Topic: [CLOSED] Diversified Group Buy [KNC/BitFury/VMC/HashFast] - page 6. (Read 17828 times)

I might jump in on this, though 5 BTC being the minimum makes me somewhat sad.

Anyways, are you going to make unpacking videos like what people do when they are one of the first to get a PS3 or Wii or whatever? I would love to see the packaging and whatnot which gets sent with these miners.

Are there any plans for buying hardware from AsicMiner? They are apparently releasing info out soon about their new blades, hence my curiosity.

Good to see some seemingly honest attempt at a group buy with diversified mining hardware risk, along with very through responses.

Are you considering putting this on BTCT or BitFunder to allow a larger investor pool resulting in even more diversification?

I got you.  

Thanks for voting. It seems that HashFast's miner protection plan might of put them with enough votes for an order. The vote was tied 4-4 before that announcement, and now is at 7 Yes, 4 No. We have enough funds for a baby jet, and I said I'd order by votes, so...

If you are against or for ordering a babyjet miner from HashFast, please go vote in the polls on our forums. If we are indeed ordering from HashFast, we need to go ahead and get our place in line, so that is why I'm setting the deadline on Sunday. I will tally up the votes on the HashFast poll this Sunday to decide. Again, about half the group has still not voted, please go vote if you care one way or the other.

CH, see my post in our forums for my transaction, I believe I got it in before the hold was announced

I vote grabbing a baby jet. ~200 left

NOTICE: Fund collection for this group buy is on hold until the current investors and I figure out a game plan in regards to which of the new companies to order from. The deposit address had been redacted from the OP while we figure out what we're going to do.

No problem. I agree on HashFast, if I was voting then my vote would be yes.

Good luck with your group buy (sincerely). I would not even try to organize something like this if I wasn't at least a Hero Member and had a lot of references/business dealings on the forums in the past. It is really hard to earn trust around here. There are still some people that don't trust me... it is what it is.

It may look easy, but this actually takes up A LOT of my free time. There are many duties that may not be easy to see from outside looking in. Also, I am very anal about everything and like to keep everybody updated about every little thing. If I have to move an Avalon over an inch, I will let everyone know that. I probably spend way more time on this stuff than necessary, but it is important to me that everyone is happy with my service.

Cheers,

Ch

Thanks for the detailed response!

Yes, it seems that the only way to improve your odds of reaching ROI is to aim for the largest miners for the best value. I *think* HashFast's Miner Protection Plan is a pre-order miner's BFF as long as they can somehow show this isn't empty words. Not liking the new weasel wording they added to their site today.

I'm thinking really hard about joining a GB. I've also already received John K.'s pre-lim. approval to go ahead with a pre-escrowed HashFast/Cointerra GB. Weighing the costs/benefits of either joining one or trying to run my own but I've already done a lot of the prelim groundwork for one.

Organizing something like this is a piece of cake compared to my day job.  

Confirmed. Thank you. 

Ah... home sweet home.  

Firstly, we did not order Batch 1 Avalons. If we had, then we would of already made ROI and a huge profit. My first group buy was for Batch 3 Avalons. Unfortunately Avalon delayed about 3 months, as you might know. Although we will not make as much profit as we were expecting (we thought we'd break even in 1-2 months), I think we will still make a modest profit. I'm not going to speculate on how much or how little that will be, because it is mostly out of my hands. My job is to keep the machines running stable, and whatever happens happens. As long as I am doing that and taking care of my duties as the group buy operator (dividend payments, share transfers, communicating with the group, etc.), then I feel like I have done a good job at the end of the day. No one knows exactly what difficulty will do in the coming months, all we can do is sit back and enjoy the show (or throw tomatoes  ).

Secondly, I try to learn from my mistakes and other people's mistakes as well. Avalon certainly made some type of mistake along the way with their 3 month delay- we can only speculate what that was. So with that in mind, on my second group buy offering, I am trying to do just that. Instead of putting all our eggs in one basket (Avalon), I am spreading the orders around to multiple manufacturers in hopes that it will lower the variance of delayed orders. I will not and am not investing our money in obvious scams for the sake of diversification. I am trying to stick to companies that I believe have good intentions and plan to release a product. Will they arrive on time? That is anyone's guess, that is why I am trying to not invest in too much hardware from one company.

Thirdly, all new ASIC companies that were not in my OP, I am allowing all members of the group buy that have deposited funds to vote on whether or not we will buy a miner from them. I have not and will not vote in these polls, it is completely up to my investors. Hashfast is currently sitting with 4 votes for yes and 4 votes for no, so I cannot say for certain that we will or will not buy equipment from them. It 100% depends on the outcome of the polls on our private forums.

Fourthly, it is up to you to do what you'd like with your money, but I will provide some facts for you. Let's take KNC as an example. Their low end miner Mercury is 100 Gh for $1995, meanwhile Jupiter is 400 Gh for $6995. Mercury is $19.95 per Gh, meanwhile Jupiter is $17.49 (rounded up). So, if you order a Jupiter you are getting about 12.3% more hashes for the same money than if you were to order a Mercury. My fee is only profit, minus electricity (which you would have to pay yourself anyways), minus 3%. There is about a 9.3% overlay there, which in theory, you will make 9.3% more than if you were to just order a Mercury and mine with it yourself. These savings are comparable among different ASIC vendors, most offer similar discounts for ordering faster equipment.

I hope I have covered everything, please let me know if you have anymore questions.

Thanks for the kind words TheJuice. 

DyslexicZombie, I will get back to you in some minutes as soon as I get home. I've been at work all day, then had to come to the warehouse to clean out the A/C filters for the Avalons.

I'm part of that group buy; it's going to depend on difficulty adjusting. By my latest estimates we looking at around earning 30% on our investment. We are about to get ~0.2 BTC per share (1 BTC initially) tomorrow !

I can vouch CH is dedicated to his group buys!

Sent 5 BTC.

1db30325dc47a68199bd2e224cf3b38400ba13954aed11ab71313620f87b076f

Hi CoinHoarder,

I'm interested in your approach but I think you might want to consider HashFast and their Oct 20-30 slated delivery of 550 units over something aimed at a November/December delivery at a lesser hashrate. Their HF Jet offers the best $/GH offer available anywhere ATM. If there's some meat to dem bones, their miner protection plan may have the best pre-order protection (but I still wish they used CCs).

Question: Can you share avg. returns seen from your first GB? I'm not doubting you, and I know past results don't guarantee future results, but I'm just curious how well the Avalon GB worked out for (lucky) shareholders. We all know this story could've ended badly if they were wayward B2/B3 units instead of the B1 units that were delivered. Publishing this ROI stat, with caveats, could do wonders for your sales.

Going forward, even w/ TH+ equipment it's going to be difficult, if not impossible, to match the returns seen from Avalon B1 units. Still, it'd be nice to hear some real world examples for those hesitant about the whole Group Buy approach.

Instead of buying my own lower end KnC or BF miner, I'm thinking really hard about joining one like this or even trying to org. one myself for 1 high end miner via John K. since I still have funds for 1 or more pre-orders this year. The net. difficulty and cost of hardware just about makes it impossible for smaller miners to keep up. If you want to mine, I think this is sadly, the future of mining.

Thank you sir, welcome aboard! 


I am very open about my accounting procedures and every transaction that goes to and from the group account. Therefore, I wanted to mention to the group that Egon had something come up and he needs a refund of this transaction:
Egon; 10 BTC; c0b21ddee90177cf7f319e724beb29a37ba60d421d15b40f09a994d4ff772898

I am processing this for him now... just FYI incase someone was looking at the block chain and wondering what happened. 

A great idea! I'm in for 5 BTC please, tx:323937b0eb361075c77efd1462fd17162a2348f665f7e1ac12fc3359ad94b4bb

I agree. I am sitting on the group funds for the time being until the dust settles.



Updated. Thanks! 

right now it seems the wisest thing to do is to wait for a few days or a week
and see the new options that are coming. It's quite possible that the new
offers will make existing providers lower their prices as well.

I'm leaning towards this option...

Sent 5.99 BTC. Tx ID:7e04dcb20ebff58ebab78ffb8d548a096320b3b8b11a8b3dc2fdc785264ff3bd

Sent 5 BTC. Tx ID 44c514a1b06251387de4ff78b43b4981f4141a11b9f3e56c69fc68c68b24fb97