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Topic: Community Mining - Avalon ASIC chip Miner--33.840MH/s----> All Shares are taken - page 3. (Read 13095 times)

hero member
Activity: 882
Merit: 547
BTC Mining Hardware, Trading and more
Quote
each share is equivalent to ~920Mh/s hashing power

When only the first batch has arrived, in order for that to be true, you wouldn't split the 5.5 GH device between all shareholders, only the one who bought the 6 shares. Otherwise as more people buy shares, you are watering down (reducing) the hashing power per share (giving the new shareholders hashing power before their shipment has been delivered).

If I buy 6 shares now, do I get hashing power when the first shipment is delivered? or do I wait until the shipment I get into is delivered? Honestly I would prefer to wait and guarantee ~920Mh/s per share. Because once you start actually giving out dividends, a bunch of people will want shares and the shipments will take longer and never catch up to the demand.

In essence, you would be hosting them for us (you should charge a % fee).

Hi Eric,

it seems you missed some points on the FAQ.

The Hashrate per Share is a guaranteed value, as you can read in the FAQ
Quote
We will continually order devices the more shares are bought, your shares will start working as soon as we got the devices. See the order in the investment table.

This means if the first 2 devices arrive, we can cover 2 x 6 or 5 Shares depending on which device it is.

As mentioned somewhere in the Thread there wont be an unlimited amount of Shares, I think we can offer 100-120 Shares at the moment but this is just some value, if there is much more demand we can surly find a way to increase the amount of shares.

There is already a hosting fee see here:

Quote
How are the mining earnings splitted?
Quote
At the end of a payout period, the power costs and a handling fee of 1,5% will be subtracted from the mining earnings. The earning will then be splitted proportionally to all investors.
After the initial Investment of an Investor is mined the handling fee for further mining earnings will be 5%.
If a Share which has already reached the initial investment is traded, the 5% handling fee will still apply.
Please note: As we are using different Mining devices with different Amounts of Shares and Speed, the whole Hashingpower of all devices is splitted into all Shares so everybody gets the same Speed/ Share.
full member
Activity: 224
Merit: 100
You can't kill math.
Quote
each share is equivalent to ~920Mh/s hashing power

When only the first batch has arrived, in order for that to be true, you wouldn't split the 5.5 GH device between all shareholders, only the one who bought the 6 shares. Otherwise as more people buy shares, you are watering down (reducing) the hashing power per share (giving the new shareholders hashing power before their shipment has been delivered).

If I buy 6 shares now, do I get hashing power when the first shipment you ordered is delivered (avalon batch 1)? or do I wait until the shipment I get into is delivered (batch 2 or 3)? Honestly I would prefer to wait and guarantee ~920Mh/s per share. Because once you start actually giving out dividends, a bunch of people will want shares and the shipments will take longer and never catch up to the demand.

In essence, you would be hosting them for us (you should charge a % fee).

That means the first avalon you pre-ordered is all yours, Foofighter, not shared. We wait Smiley Is that how it will work?
newbie
Activity: 8
Merit: 500
Sounds like a very good investment and I would very much appreciate it if you got in contact with a respected forum member to verify your identity.

Akka has received documentation from Foofighter, see Post #5 in this thread.
hero member
Activity: 882
Merit: 547
BTC Mining Hardware, Trading and more
Hi ChronoX5,

just updatet the list, thank you!

So you currently have no hardware, yet plan on offering 917 mh/s at 0.593BTC per share?

In theory, you are offering a hashrate of 1 BTC = 1546 mh/s.

Avalon batch 2 = 75 BTC, 66gh/s, 1BTC = 880 mh/s

ASICMINER blade = 50 BTC, 13gh/s, 1BTC = 260 mh/s

Just want to make sure I have this right.



yes thats right!

regards
member
Activity: 72
Merit: 10
Sounds like a very good investment and I would very much appreciate it if you got in contact with a respected forum member to verify your identity.

Akka has received documentation from Foofighter, see Post #5 in this thread.

Thank you and thanks to Foofighter and Akka!

Here's my order: (that 20,000 BTC selloff just cost me 6€ Cry)

ChronoX5;6;1VK7eJ9MaG7W17Ekk1Jbvhm5MudQ77pJ2;96.39;G8H8BNmI/XCpZXqhx4OqpOnl+5qHGc06i71i3U7gvMegIM5LRQYlEtm4m75nC/4rg7+tx1Cmc9CPYg2nbGsdeMQ=
member
Activity: 72
Merit: 10
Hi, I just read the original thread. As I understand it your original plan was to offer a fixed ROI of 110% but now you have reworked the offer so that you get a cut of about 5% (minus expenses) and the ROI is not capped. Is this correct?

Sounds like a very good investment and I would very much appreciate it if you got in contact with a respected forum member to verify your identity.
member
Activity: 70
Merit: 10
So you currently have no hardware, yet plan on offering 917 mh/s at 0.593BTC per share?

In theory, you are offering a hashrate of 1 BTC = 1546 mh/s.

Avalon batch 2 = 75 BTC, 66gh/s, 1BTC = 880 mh/s

ASICMINER blade = 50 BTC, 13gh/s, 1BTC = 260 mh/s

Just want to make sure I have this right.



True. You need to know, he won´t make profit out of the miners. If you check the costs of one miner, you will come to the same value / GH.  The Chips are priced at 0,083 - 0,086 BTC / chip.  You need 20 chips for a burnin device or 16 chips for a Klondike device.

1 Asic chip can do 282 mh/s  -> That equals ~ 5,64 gh/s for a burnin device or ~4,51 gh/s for a Klondike 16 miner.

Assembly costs vary between 65-100€ (or maybe more ?!)

So it´s possible to offer this hashrate / BTC !

hero member
Activity: 816
Merit: 1000
So you currently have no hardware, yet plan on offering 917 mh/s at 0.593BTC per share?

In theory, you are offering a hashrate of 1 BTC = 1546 mh/s.

Avalon batch 2 = 75 BTC, 66gh/s, 1BTC = 880 mh/s

ASICMINER blade = 50 BTC, 13gh/s, 1BTC = 260 mh/s

Just want to make sure I have this right.

hero member
Activity: 882
Merit: 547
BTC Mining Hardware, Trading and more
Hi,

the pricing is only based on the costs of equipment and its not planed to rise the prices.

Due to the fact that the prices are very competitive now we will have to see if the additional hardware costs like power supplys, cable, and so on are properly covered.

The purpose of the project is not to make any profits of it, so I see no general reason to increase prices, but later on there will be a cap on maximum Miners / Shares.

regards
member
Activity: 70
Merit: 10
I'm nobody.
how does the price per share work? does it go up based on market demand, or is it solely based on cost of equipment?
full member
Activity: 237
Merit: 100
I rave ... whats your excuse?!?
oh so that's how it works. Will be following suit as soon as my current rig mines enough for getting a share. One is better than none right? Wink
newbie
Activity: 8
Merit: 500
I have just purchased 3 shares for a total of 1.74224 BTC based on current Mt. Gox rate of 100.88 EUR:-

Transfer confirmation:  https://blockchain.info/tx/7080c10701e7c20f6932864fef25180196f673393cf1c58aaed8dd180d0858a8

Verification signature:  G6elUrZupPLjad8GIDUVNCftQzZslsL2xhOdDaAYrouDtR8VCG+z++dNr3f5q86ApdSry2YiDNdCRaRFSA9EKZE=

Wallet address for dividends:  1KeUcDvMxLPLE3APoBDKW5ThkZvdDFZ7t6

Standard investment format:-

jimmijames73; 3;1KeUcDvMxLPLE3APoBDKW5ThkZvdDFZ7t6;100.88; G6elUrZupPLjad8GIDUVNCftQzZslsL2xhOdDaAYrouDtR8VCG+z++dNr3f5q86ApdSry2YiDNdCRaRFSA9EKZE=

Thanks Foofighter.
hero member
Activity: 882
Merit: 547
BTC Mining Hardware, Trading and more
Hi jimmijames,

just updatet the list, thank you!

regards
hero member
Activity: 882
Merit: 547
BTC Mining Hardware, Trading and more
Hi,

added change #5, as this is an open project everone can see who has invested so from now on every investor shall post his investment mentioned in point 3 of #OP as a post and not anymore as a PN.

I also added two youtube tutorials for the verification process.

And updated the investors List and our total hashing power!

regards
Foofighter
hero member
Activity: 882
Merit: 547
BTC Mining Hardware, Trading and more
Hi guys,

there was another change, as the investors got some troubles with the original verification step by step guidance, I posted an easier guidance.

I hope now is everything clear.

Please see this change also in the changelog in post #1. This is change No. #3

I also added an estimated amount of time from the ordering of the chips until we get the miners in our hands, see change #4

For more Informations, dont hesitate to ask!

regards
Foofighter
newbie
Activity: 8
Merit: 500
I think I could be interested, do you need a minimum number of investors to get this project off the ground?
hero member
Activity: 882
Merit: 547
BTC Mining Hardware, Trading and more
I think I could be interested, do you need a minimum number of investors to get this project off the ground?

Hi jimmijames73,

nope, as you can see we already ordered chips as soon as a new investment comes in we make orders.

So there are no minimum investors and now also no maximum investors or maximum allocated Hashing Power, but this will maybe come in the future.

If you need mor Information, dont hesitate to ask!

best regards
Foofighter
hero member
Activity: 882
Merit: 547
BTC Mining Hardware, Trading and more
Hi,

I understand your concerns, but I think about it that way:
We make the order in Group buys, the only thing Avalon got to do is forward the order to TSMC -> get finished chips from TSMC and forward them to group buyer.

I can not image that in this simple chain of things to do something can go wrong, although there is everytime the possibility given.

regards
full member
Activity: 183
Merit: 100
Looks like a nice project, but I'm wary of investing in anything which relies on Avalon shipping in a timely matter. Although they came out strong with batch 1, they seem to have dropped the ball (several in Batch 1 have still not received any units, and Batch 2, although officially "shipping" keeps getting pushed further and further back. I'm too worried that it will be 6 months or more before any Avalon chips ever get shipped.
hero member
Activity: 882
Merit: 547
BTC Mining Hardware, Trading and more
give me 1 miner

No problem, just pay for 5 or 6 Shares and you have got your Miner.

Best regards
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