Topic: Community Mining - Avalon ASIC chip Miner--33.840MH/s----> All Shares are taken - page 4. (Read 13095 times)

give me 1 miner

Hi,
just ordered the next Asic chips for 2 more devices.

We have also decided that we will use another Asic CHip group buy which is located in Europe, its the groupbuy of t13hydra:
https://bitcointalksearch.org/topic/m.2289091

Also we decided to use more then one Mining device, we are planning to use the 20 chip device from burnin, the Clondike 16 chip design and maybe if the design got released soon the clondike 32 or 64 too.

We did this in order to split up our risks of the Project, there will be no disadvantage for any investor and there will still be 1 price for 1 share but different amounts of shares per device:

Burnin 20chip device = 6 Shares
Clondike 16 chip device = 5 Share

The mining power of the whole system will be splitted into the amount of share available so everybody has the same mining power/ share.

As the pricing of the clondike 16 is very good we can offer the clondike for the same share price as burnin 20 chip device!

We are looking to buy an even amount of both devices.

Please see this change also in the Changelog and edited into the #1 post.

@yxt
thanks so far for your feedback, i will reply asap

@to the first investors
Thank you very much for your trust in this project!

Best regards
Foofighter

@ironcross360 + woverine.ks

Nobody knows how the difficulty will increase in the future, but your can play around on your own, here is a good mining calc:
http://www.alloscomp.com/bitcoin/calculator

regards
Foofighter

sent PM with further feedback...

Please note, i added a Changelog on the end of the first post, in this Changelog I will write every changes of the project or additions to the FAQ.

See #1 changelog entry for more Information.

Best regards
Foofighter

depends on the future development.  Everyone should make his own assumptions.

what is the expected ROI? 4 months?

Hi,

from our point of view, fractional shares are not profitable enough to bring satisfaction to our Shareholders.

Also it would take a lot more investors to buy devices and would cause more workload.

I also think that around 0,55 BTC, is a pretty fair price for 1 share and should be affordable by everyone.

regards
Foofighter

If it's all the same, would you consider fractional shares for those with mere pocket change to throw in?

Orders that can be confirmed by me:

13-05-26:

Avalon ASIC Chips (SebastianJu) - 40 pcs.

13-05-27

Avalon ASIC Chips (t13hydra) - 32 pcs.

13-05-30

Avalon ASIC Chips (t13hydra) - 16 pcs.

13-06-02

Avalon ASIC Chips (t13hydra) - 32 pcs.



Sum: 120 pcs.

Hello ASIC Community Miners.

I have receiced an identity document and a recent bill from Foofighter to the same Person as on the ID including a receiving address. I also will receive the order confirmations.
So if the assembly is ordered and burnin provides order confirmations at his assembly service I can definitely check if he ordered the service or not. The Asic chip buy is already very transparent because Foofighter could provide verified payment addresses for the stated chip orders.

In the case Foofighter scams investor funds, I will provide every investor with Foofighters identity.

As scam I would evaluate a behaviour of Foofighter where damage to his investors is caused on purpose. Examples given:

Foofighter got the miners delivered but doesn't announce it or doesn't make payouts / stops his payouts respectively, is inactive in the forum for over 1 month.
If he announces his absence (vacation or hospital stay) the amount of time will be elongated respectively.

He is inactive in the forum for over 6 months and is also unavailable to reach in general.

I will exclude every circumstance where the chips deliverer or the assembly service of the ASIC devices is to hold accountable and Foofighter has no influence.
Example given:

Avalon doesn't deliver the ASIC chips.

Any circumstances beyond Foofighters control , (eg.: Foofighter house burned down, he gets shut down, the miners get robbed, etc.) in that case Foofighter has to prove that this was really the case.

One or more mining devices get damaged without inappropriate influence through Foofighter and cannot be repaired without additional costs.

The mining is not profitable any more, which means the power costs + the handling fees are higher or equal to the mining outcome, in this case Foofighter can only sell the miners and split the selling revenues proportionally to all investors, or the investors can have their mining device sent home to them depending if the amount of shares they are holding is equal to a full mining device. (this option would require to pay additional shipping and packaging costs which have to be paid by the investor)

Every other matter will be evaluated by common sense.

I have already provided this kind of service for other Projects:

yxts Avalon Gemeinschaftskauf: https://bitcointalk.org/index.php?topic=157128.0;topicseen

The beginning Candoos Avalon Community Mining, now listed as Cado.AvalonB3 on Bitfunder: https://bitcointalksearch.org/topic/avalon-update-lesen-gemeinschaftsprojekt-255-ghash-158935

and

Candoos BFL Community Mining: https://bitcointalksearch.org/topic/bfl-sammelbestellung-mit-hosting-160797

*I am personally not involved in this project and neither have I taken any payments from Foofighter or any other involved body, but I reserve the option to invest in this service myself.

** The purpose of this service is only to provide investors with some limited amount of security (Identity of the provider is known) while at the same time enable him to stay anonymous, which is understandable if you plan to host expensive mining equipment.
I don’t guarantee that this service is risk free and/or profitable.

***If somebody quotes this text it will be unchangeable bound to the forum.

reserved

Frequently asked questions:

When is this service available?

Which mining devices are we using?

How much Mining power has one of this devices?

How much Mining devices are involved in this project?

Will it be possible to sell my Shares?

How are the mining earnings splitted?

What is the payout frequency?

What happens if a Miner gets damaged during the project time?

What happens if the project isnt providable any more, an increasing amount of Miners gets damaged or we are in any other way forced to stop the project?


Why should we trust you?


How are you going to provide the promised transparency?

Hey guys,

in this thread I want to introduce a Community Mining Project which will run with Miners made of Avalon ASIC chips.

About this project?

• This project will be an investment project for you! You can buy shares from ASIC Miners, each share is equivalent to ~920Mh/s hashing power
• The more shares are bought the more Miners will be bought
• All shares and shareholders will be listed in this Thread
• There will be weekly payments
• Will will buy the ASIC chips in a group buy and we will probably buy the 20 chips Mining Units from Burnin ( one of his devices will provide 5,5GH/s hashing power)
• This service will be available as long as it will be profitable for our investors
• We are at no time the owners of the mining devices, we will only host and administrate the devices for you
• Each Miner with the Mining power of 5,5 GH/s will be splitted into 6 Shares

Advantages:

• no need to configure any hardware or software
• cheap hashingpower
• good community support, with frequend news

Please note: The first few investments will be taken to buy only ASIC chips, because these parts are the most time critical part of the Miner, in the case that there are no other investors I will pay the assambly service and other necessary costs on my own to provide the complete mining devices!

The costs of 1 Miner is:
1,72 BTC + 1,78BTC @100EUR/BTC

Actual weighteda average BTC Price from MTGOX:https://mtgox.com/index.html?Currency=EUR (Forum warning: Possible phishing link!) (Forum warning: Possible phishing link!)