Topic: ### GRIDSEED Group-Buy Shares - Forum Added for Buyers ### (Read 6256 times)

http://gridasics.proboards.com/thread/37/fas-grid-shares-fas1000-grid1000

UPDATE:

All group buy miners have been delivered.

We shipped a total of 75 miners.
With 125 left for the pool.

Miners are running!!  I expect dividends to come in every other day...
Mining Activity:  http://goo.gl/cnTqfn


Also please check out my latest project:
http://goo.gl/zwj58k

Please jump in if you want to see 100% free crypto exchange trading...

/fasbit

fasbit i saw that you in your forum the 23 mars said that you coulden't find usb cables cheep anywhere ??
"..the USB cords are the main issue...NO ONE has these for chaep..."
bitcoinstore has usb cables for 1,19-1,37 usd / 0,0021-0,0024 BTC, but maby that is to expensive ??
http://www.bitcoinstore.com/1ft-usb-a-to-usb-b-high-speed.html                                                 type A to  B       1,19$/0,0021BTC
http://www.bitcoinstore.com/qvs-usb-2-0-type-a-male-to-mini-b-male-sync-and-charger-cable.html  type A to MINI B 1,37$/0,0024BTC

and the full list of usb cables they have:
http://www.bitcoinstore.com/advancedsearch/result/index/?dir=asc&order=price&q=usb+cable

To reply to what was mentioned in gridseeds forum, picture 31 is the gridseed product and it appears to have the correct CE marking see this http://ec.europa.eu/enterprise/images/ce_mark_big.gif for example and there is cases where the identification number must not follow the CE marking on the product.

fasbit has sold 65 BTC at an avg price of 601.46 USD/BTC on Coinbase a couple of days ago(26 feb i think), fasbit posted the info on there forum then. He expect to have the cash on or before the 3 Mars and wire the money to Gridseed the same day he gets the cash.

i hope they went ahead and sold the btc right when the round closed, it is going down now, eek, i hope my shares are still enough for one full physical unit

got a great deal on ipo only got 400 shares tho had to sell p2pxpm  no buyers get another 1000

Not sure what degree of statistic they will provide but here's an estimate(coinwarz) for GRID based on todays btcprices and profitabillity based on the following: usd per btc 543,59(very low now would have been better to exchange yesterday at ~620 or next time up over 600 in my opinion), 160 usd/miner 164.467 inkl controller, 65 370 000 shares 7 watt scrypt only or 7+53=60w(Scrypt+SHA256), 0.09 usd/kwh, dual mining mode(scrypt+sha256) 300 kh scrypt+8gh/s btc or 350 kh/s scrypt only.

scrypt+sha256                                      ->inkl btc
                 per miner/day  or in usd         btc/day     btc/day    div per      div per share  exchange @    exchange @
                                     without with    with          all miners  share and  and week      600 usd/coin    650 usd/coin
                                     electr   electr  electr                      and day                       per week         per week
BEST scrypt 1/228,22 btc   2,38   2,37      0,005427   1,166 btc 1,784 sat  ~12sat/12%   ~14sat/14%    ~15sat/15%
DOGE          1/348,74 btc   1,56   1,55      0,003918   0,842 btc 1,288 sat ~9sat/9%       ~10sat/10%    ~11sat/11%
LTC            1/423,48 btc   1,28   1,27      0,003403   0,731 btc 1,118 sat ~8sat/8%       ~9sat/9%       ~9sat/9%
BTC            1/777,86 btc   0,70   0,58



scrypt only
                 per miner/day  or in usd         btc/day     btc/day    div per      div per share  exchange @    exchange @
                                     without with    with          all miners  share and  and week      600 usd/coin    650 usd/coin
                                     electr   electr  electr                      and day                       per week         per week
BEST scrypt 1/207,94 btc   2,61   2,60      0,004783   1,027 btc 1,572 sat  ~11sat/11%   ~12sat/12%    ~13sat/13%
DOGE          1/298,92 btc   1,82   1,80      0,003311   0,711 btc 1,088 sat ~8sat/8%       ~8sat/8%       ~9sat/9%
LTC            1/360,24 btc    1,51  1,49      0,002741   0,589 btc 0,901 sat ~6sat/6%       ~7sat/7%       ~8sat/8%

So in the ballpark of 8-15 satouchi per 100 sat share per week or 8-15% weekly return on investment if mining dual at the specified rates, if better firmware will be avaliable some seems to think they may produce around 500kh/s scrypt but it may be better to skip the extra 53 watts sha256 mining would add then if they will go up and run at such rates, the added heat in comparison to the return from it will hardly be worth the increase in temperature and risk for failures. Next difficultyincrease for btc looks to be around 25% so when miners arrive the btcmining(SHA256) part will be at around 0.44 usd/day at current usd/btc price.

IF you are a GRID shareholder, please log in and vote.  This is quick vote.

Vote is: 
1-Sell BTC now and place the order.
2-Hold off and wait until $620 USD
3-Hold off and wait until $640 USD.

Another option for galvin might be to sell his shares over the counter (bulletin board trading) for 1.5 satoshi (or some other fractional amount).  Obviously there is some risk to not using the exchange.  Given the number of trades at 2 satoshi, I bet he could find quite a bit of interest at 1.5 satoshi and skip the line to sell at 2 and still make a nice profit.

Will there be any info on the mining proces once its up? Can we check how much income the miners generate?

The law of investing is governed by return of investment and not by mathematics mechanic (in this case, tick size).

 

So if everybody knows it will go up, why don't they buy now?

Galvin i saw your question in grid's own forum, (i haven't registered there) and you diden't get a good answer there i think. The correct answer is of course if you need the 1 btc you invested back fast and if you bought at the IPOprice 0.000001 then you can just put up a sellorder at 0,000001, there is buyorders for 3,5 million shares(3.5 BTC worth of shares) so it shouldent be any problem for you to get them sold.

If you on the other hand bought at 0.000002(or if you hope to make 1 btc profit and bought at 0.000001) you need keep your sellorder at 0.000002 wait until as many stocks have been bought from the sellorders that equals the amount that was put up at 0.000002 btc before your sellorder, then buy's at 0.000002 start eating into your sellorders.

As soon as the miners arrive and start generating btc's it should go pretty fast i suspect to tear down orders at 0.000002 and quite a bit up.

I was able to buy into the IPO due to the share price.  It was great for me as I do not have much money or BTC.
This pricing setup allowed me to get 29000 shares.  I'm glad it was set this way.
Thanks again for thinking of those of us that do not have lots of money to invest.

Its a valid point,  but I chose .000001 for several reasons. I think the advantages outweigh the disadvantages.  Rationale:
  1. To allow even the smallest investor a chance to participate.  (there were 1000's of single shares sold)
  2. The price of .000001 also set a minimum floor to protect initial investors.  i/e the price can't go lower.  Obviously the market could dry up, but price cant go down.
  3. The IPO price was designed to give early adopters maximum profitability options and therefore encourage investment.  i/e assuming I can deliver market and share value, the price is certain to increase.  Then the IPO stakeholders have the option to sell out or stay in... and can sell at or higher than the initial per share investment.  This gives them an extra incentive to invest.

Just put in a BUY order for .000001 and buy from the people who don't want to stay in...

/fasbit

Here's the technical term for what I am referring to:
http://en.wikipedia.org/wiki/Tick_size

you must be so pissed, missing out the lowest IPO price available for cryptostocks, and the only way to buy it is at the price of 2x of the IPO

I think everyone is missing my point.  Since the smallest unit of value on the exchange is 0.000001, the granularity of share pricing is far too high.  I'd pay 0.00000125 for 100,000 shares but the exchange doesn't give me that option.

If 1/100 of the shares had been IPO'd at 0.0001, I would be able to enter a buy at 0.000125 for 1,000 shares and have the same equivalent value.

I ran in to a snag on the conversion to USD.  CampBX my preferred vendor stopped doing ACH withdraws.  They now only issue paper checks.  I am working on a solution.  I have contacted Gridseed to try a work-around.  Still waiting on reply.

You can also put in a BUY order at .000001 and buy shares from people who want to sell their shares.

The price per 5chip device from the manufacturer is 160 usd and you will need to order a minimum of 200 miners from the manufacturer and spend some time and invest 32 000 usd+ if you would like to buy those miners yourself at that low price.
Stocks you can trade to and get in/out of whenever you like, if you buy 200 miners yourself it's a slightly bigger operation to get in/out of a position than just typing a price and pressing a button.


Compare GRID with other stocks investments and you see why people buy stocks at higher than introduction price.
The expected dividend/return will be high even when you buy at 0.000002 or higher.

Lets take a few example:
==================
People buy shares in CRYPTSY for 0.2 btc a stock, it's introduction price was 0,05 btc per stock so that's 4 times the introduction price for example that people pay there now, Cryptsy return around 0,2% per week in dividend if you buy it at 0.2 btc.

Some people even buy Vircurex stock for 0,1-0,15 btc and they have been in violation of there contract for soon 1 year now and pay 0% in monthly dividend and if you buy into Vircurex then your buying a share of a company that is at -1000 btc or something if you believe there numbers.

BSVM (bitcoiin mining) people buy shares for 0,06 btc and there dividend is around 0,2% per week.
GMP(BTC mining) people buy there shares at around 0,25 btc, dividend around 0,25% per week
MGMP(BTC mining) people buy there shares at around 0.000900 btc, dividend around 0,07% per week
==================

If you run the numbers for GRID you see that you can expect a retrurn of something like 9% or possibly even up to 17% per week on this share if you bought at 0,000001. but lets count low and say:
9,00% a week at 0,000001 btc per share
4,50% a week at 0,000002 btc per share
3,00% a week at 0,000003 btc per share
2,25% a week at 0,000004 btc per share
1,80% a week at 0,000005 btc per share
...
0,90% a week at 0,000010 btc per share
0,45% a week at 0,000020 btc per share
0,22% a week at 0,000040 btc per share

so even if you buy in at way higher than introduction price you will still make better profit on this share than most other shares on Cryptostocks, maby that answers your question.

fasbit made a ruff estimate of 241 600 shares, 0,2461 btc earlier based on 160 usd per unit and 650 usd/btc, i guess he will have a better number today Thursday if he has converted btc to usd(or already have the necessary 35k usd available in fiat)  and orders the units today if usd bank transfer is the option gridseed take as payment for international customers.
Not sure what bank and payment options Gridseed has but if they have a European bank account they could take SEPA transfers and should have the money within 24 hrs max in there account, in that case delivery should be pretty fast of the units.

well that's how IPO works! welcome

I live within a few hours drive of Tulsa.  The device itself would possibly be useful in bitcoin meetings I founded here in the community and at the college I attend.  How many shares are necessary to own a whole unit given I come pick it up?

Why was the IPO offer price chosen as 0.000001?  In order to purchase post IPO, it's a minimum double of the IPO price (0.000002).  Supposing the IPO purchased the Gridseed device for $180, post IPO one now needs to pay a minimum of $360 for the device.

If the offer price was 0.0001, a post IPO purchaser could offer 0.000101 or $181.80 using example above.

We now have a forum... address listed on page 1

Fasbit Verification:  I requested Premium verification from CryptoStocks.Com... Their customer service is very slow.
 
You can independently verify Oklahoma Registration Here: https://www.sos.ok.gov/corp/corpInformation.aspx?id=1912426386
Federal FinCEN here:  http://www.fincen.gov/financial_institutions/msb/msbstateselector.html

I get the return of investment for gridseed 5-chip devices to 107 days if you mine litecoins and 75 days mining doge if you run the numbers at coinwarz for example.

The defective rate, DOA units shouldent really matter much, what could it possibly be if i's high like you say, 1% max? can't think that any manufacturer on any electronics devices can have worse rates than that and thats really the manufacturers problems and cost not the buyers, in worst case you loose something like 7-14 days of mining time on 1/100 of your devices witch increases you ROI time from 75 days to 75.14 days so still pretty much 2,5 months at current btc price and profitabillity on scryptcoins.

The cost to list a project on cryptostocks is 1 btc now i think so your right in usd terms the cost to list a project on cryptostocks has gone up compared to when they started the summer 2012 when it was at 5 btc if i remember correctly but in btc it has gone down.

Yea your right theres always a chance for that, maby you should ask fasbit to get avdanced verification on cryptostocks or i guess it's possible for you to check up the companys registration, https://www.sos.ok.gov/corp/corpInformation.aspx?id=1912426386 i think it's there registration, you can probably get the info you whant from that oklahama secretary of state or some other gov instance, not exactly sure how or where it's you search info on people/company for free in the usa but checking up things will reduce your risk for that type of things.

I think it's more relevant to compare investing in scryptmining with other mining projects, btc or scrypt than gambling sites and compared to bitcoin mining project there's no doubt that scryptmining project will return better, comparing it to other scryptmining projects there you have to look closer to each case to say whats better or worse and do it yourself, that depends on the individuals situation/skills, some probably don't have the abiliity to run mining farms efficiently, either because of lack of skills, space, heat issues, already maxed out fuses in your houses if you can't upgrade to higer ones, to high electricity costs in your country/state and so on.

We have lots of volume... Higher than Cryptsy Shares - 7 day Average!
There's Still time to get in.

And my goal is to put together a buyer's group that is safe and predictable.
One thing I can offer that most do not, is the option to leave the miner in a pool. > if it breaks, then its my problem to replace.
No risk to the buyer.

There are also other factors such as heat and noise that cant be calculated into a Return on Investment spreadsheet.

I won't be so sure.

The return of investment for gridseed is 4-8 months depending on what price you pay. And that is assuming network difficulty and coin price stay on par with each other. There are also report of high defective rate on gridseed miner.

This offering of this IPO is not free. And there is always risk of getting scammed, or outright incompetent.


Not saying this is a bad deal. But the risk is certainly lower than gambling where one will lose eventually and higher than do it oneself.

I'm glad I got what I could lastnight then.
Very cool.

If you want to get in... you will have to buy shares from someone else... but the numbers still are profitable...even at .000004 per share.

Sold out... now IPO flag will be lifted... for the feeding frenzy

You know after evaluating all of the group buys out there... i really didnt have a good "investor" feeling about what I read and saw... i wanted to put together a kick-ass type deal...

I'll see you again on round 2 buy...

PS... I better get some trust point out of this deal when its over!

I have a Chinese shipping company lined up to accept and ship the order...
They accept international wire

I will have photos of my FAS operation on my web site this week...im in process of converting from open air to server chasis...so its a mess right now...

Why not buy a plane ticket and come to Tulsa.  I'll show you around....

$300 plane ticket is cheap insurance...

they accept foreign bank wire...
I have the forms

He could start proving he's for real by showing the promised pictures of his other GPU mining farms for example

The (dual)miners(only the scrypt mining will be profitable so the dual part is of less interest) he buys is from a company in china Gridseed or maby there chineese reseller i think. But later i think he will host them in his office(Tulsa, oklahama USA) if i understood it correct and not at the mining farm 20 miles away where he said the GPUminers was located.

As 60 million shares is sold out already and i think thats more than enouth for ordering 200 units and the controlboards for them(witch i think gridseed was including for free one per 10 5chip units) i guess he should have the miners within 7-10 days at max in USA.

That i can't answer, i don't know how he plan on paying gridseed, guess he could just make the trip back and forth with plane to china and pick all the miners up in person and bring them back on the returning airplane trip if he for example intend to buy a few hundred miners himself to, that would probably be the easiest and smartest option, maby a few hundred usd extra for overweight on the plane but gain an extra week of mining time( 2100 usd in a week @ 200 miners and 1.5 usd per miner and day), well depends on what rules the airplane have for max weights and so if that option is even possible(well a weekend trip to china with the family may be enough to bring back a few hundred kg overweight on the plane...lol)...

Last I check, they only ship to China address and don't accept foreign bank wire/tt.

Need some honest answers here.

How can you prove you're not going to scam all the shareholders? I mean, you *could* run away with 64btc and call it a day..
Where are these ASIC scrypt miners located?
ETA on when we will receive the miners? In 5 months? when?
How do you plan to pay? It's $35K USD, please don't lose it!

These units, 5 chip models from Gridseed will be profitable for a very very long time.

The chip itself seems to be rated at drawing 0.44 w at standard speed so 2,2w for the 5 chip model

These 5 chip models is rated at 300kh/s(possible even 350 kh/s without any oc as the 1 chip model make 70 kh/s) and the 5 chip model only draws 7 watts(1 chip model 1.5 watts or less) or possible even down to 5 watts per 300-350 kh/s. So something like 14-23 w per Mh/s compared to GPU's that may in most powerefficient setups may be drawing 250-285 w per Mh/s so 11-20 times more powerefficient than GPU mining scryptcoins.

He lives in Tulsa, Oklahama, USA as far as i know or somewhere close to that city.

A few question.

1) Do you live in China?
2) How do you pay the supplier?

Bought 10 million shares. Make me happy please 

1. The main reason is I am building GPU scrypt farm.  Many people dont have $180 to buy one complete unit, but they have .03 BTC to kick in....they can still join in, without buying a full increment.  From there, I am the defacto Manager for these people.

2. Image if someone wanted to buy .000001 BTC worth in a GB...haa... no way...but they can do it on CryptoStocks.

3. Once mining starts, I have an easy method to pay out.  I drop in the money, and it sorts it out for me...based on dividend.

4. It allows the gamblers in on some action... when I turn lose the IPO flag its like a feeding frenzy.... the speculators love it...pump. pump.. no GB can offer that excitement...personally I dont  care for all that craziness, but they love it...and those guys help raise money....so I welcome them...

5. This IPO has at least 200 people  involved... try that with a regular GB...

6. Built in vote system

/fasbit

more transparent, i guess?

oh damnnnn i miss bitfunder/btct lol

So why use cryptostocks?  Why not just do a normal gb here?  

That's the best way to do it as it usually keeps your business going as well.  Upgrading and keeping going makes sense usually as you and your investors continue to get income.
I just got my first 9900 shares.   

We put it up for a vote.
Options would include: Sell them and upgrade.... is usually best choice....

So what happens when the units are no longer profitable?

Lots of exp wtih GPU... working on the scaling out issue...
I estimate half of the units will be sold as hardware... so only 100 units to deal with...
We are in Philtower... Just a big office bldg
I have extra AC load alrady due to GPU servers....
these thing are ice boxes compared to GPU
I just need help...in general....
My exp is business side...

Going to have to keep an eye on this, seeing as you guys are only a few hours from me makes it easy to hunt you down if you rip everyone off

Seriously, good effort thought, look forward to this will see how it evolves and where you guys go with it.

What are you facilities you guys are using, your own or some of the big guys up there TierDirect and Tulsa Connect have some nice facilities up there full replicated last I remember.

If you do no mind me asking what experience do you guys have with handling this, see you are looking for some net-eng help is your experience more on the business dev side or the technical side.

200 miners is a good healthy start, have you factored power/cooling requirements, scalability etc etc maybe I can lend some helping advice to you on that end just because your psuedo-close...although ok compared to texas might as well be alaska according to us

Very cool.
Thanks for the info.
I finally can use my small DVC collection to buy something with.

We have FAS already up and running.  It is scrypt mining operation. 
This ASIC chip is all new and I have to place an order to get a delivery date.
Once the chips get back here to Tulsa, then we start shipping and mining.
My guess is 4 weeks after we place the order.
Once we sell out then everyone will be free to sell and trade shares.

FAS Link:  https://cryptostocks.com/securities/87

/fasbit

When do yo go live with your operation?

1 Mill = 1 BTC = ~$650 = ~4 Units

I like the speed of this GB!  I'll take 1 million shares please, how many gridseed units will this entitle me to at the end?

Not really... just the 2 million shares... who know how many different people...
but that number just jumped to 4 million

You sold .000001 shares to 2 million individual people?

We sold over 2 Million shares already.  
2 million frantic crypto-coiners can't be wrong!  

Brought to you by Fasbit.

ASIC Scrypt Mining Is Here.  Don't get left behind.
We are buying 200 Gridseed Miners.  Want to join us?

You have three options if you want in on the purchase:
1. Buy enough shares to get your own physical miner(s).  When miners arrive, cash in your shares at IPO price and take your miner(s).
2. Buy shares in the GRID pool and leave the miners in the pool.  Take dividends from the pool profit.
3. Buy shares on speculation and trade the shares on the market just like alt coins.

Shares are sold here: http://goo.gl/BUJIN5
Price is .000001 BTC - This is the lowest price per share on Cryptostocks.com.  The share price can never go lower than this.
If you don't have enough money to buy a full rig/set up.  You can just buy as many shares as you can and earn dividends.

Manufacturer Specs: http://goo.gl/dM7sqG
Our IPO Offer:  http://goo.gl/I8YhBq


/fasbit
[email protected]

Forum:  http://gridasics.proboards.com/