Agree.
I've been a long lurker.
I might take this off and get it self.
Topic: [Group Buy] 2 KNCminer Jupiter 0/124 Shares 1 BTC Each [Closed] (Read 1604 times)
The disturbing thing about these group buys for Jupiter, is that they make it very easy for the OP to run away with equipment that is not theirs.
I have more than enough money to buy up several Jupiters but after looking at these group buys...I get the paranoid feeling alot of scamming is going to go down in the near future.
The escrow is nice and all. But it doesn't stop anyone from walking away with the hardware at the end of it all.
Lets say the OP decides he doesn't want to share his profits. What is to stop him from reneging on the entire deal, keeping his/your machines and then continuing mining as if nothing ever happened?
================
What is the worst that can happen? A nick gets a scammer tag?
Even if it is hosted at KNC there is no obligation @ KNC to reprimand the owner for falling through with his obligations. KNC is just going to tell irate group buyers that it is an issue between them and the buyer.
There is very little leverage in this situation keeping the OP's of these threads honest. Those that have reputation actually face some minimal risk. The others with brand new accounts quite literally have no incentive to be honest.
Edit: Look at Adi's account, less than 10 posts.
I have more than enough money to buy up several Jupiters but after looking at these group buys...I get the paranoid feeling alot of scamming is going to go down in the near future.
The escrow is nice and all. But it doesn't stop anyone from walking away with the hardware at the end of it all.
Lets say the OP decides he doesn't want to share his profits. What is to stop him from reneging on the entire deal, keeping his/your machines and then continuing mining as if nothing ever happened?
================
What is the worst that can happen? A nick gets a scammer tag?
Even if it is hosted at KNC there is no obligation @ KNC to reprimand the owner for falling through with his obligations. KNC is just going to tell irate group buyers that it is an issue between them and the buyer.
There is very little leverage in this situation keeping the OP's of these threads honest. Those that have reputation actually face some minimal risk. The others with brand new accounts quite literally have no incentive to be honest.
Edit: Look at Adi's account, less than 10 posts.
up ^
That's better 
Okay, I agree. I will update accordingly.
Updated to 124 Shares Limit.
If this all works out, we are going to mine lots of BTC anyways..
Updated to 124 Shares Limit.
If this all works out, we are going to mine lots of BTC anyways..
hmm, your call. I believe it is worth it in the long run.
It's surely worth to you. 15-20 BTC for few clicks.
2% management fee is OK, it requires some job to do so it's ok, have nothing against that but the profit you group buy organizers are taking initially is lame.
hmm, your call. I believe it is worth it in the long run.
You could PM me, have a phone call?
You could PM me, have a phone call?
So, your twitter account would add some safety?
And these group buys are getting lame... they're not group buys anymore as when someone can't buy something on it's own but want people to join him, they are 10-20% money makers... 70BTC per piece is 8400$
And these group buys are getting lame... they're not group buys anymore as when someone can't buy something on it's own but want people to join him, they are 10-20% money makers... 70BTC per piece is 8400$
Status of Miners
Miner01 - 350GHs - Private Buy
Miner02 - 350GHs - 0/62 shares bought - 62 shares left
Miner03 - 350GHs - 0/62 shares bought - 62 shares left
https://i.imgur.com/qth9cNy.png
http://imgur.com/a/ViXue
http://gifcountdown.com/america-new_york/1370782800/141414/0f0f0f/aaaaaa/fdfdfd/faedad/true/counter.gif
As you see, there are 3 Jupiters in 1-500.
My plan is to have KnC Host it;
I believe it would be easier to fix if there is any issue;
It would start mining from Day 1;
It can be shipped later to US [Boston, MA]
I want to keep this simple:
I am planning to buy the first Jupiter for self.
The other 2 are offered for Shares.
Also, I have copied the format for this posting from the other Jupiter group buy.
Offering:
- 124 shares at 1 BTC each are available | 1 BTC ~ 5.6451 GH/s
- Each share entitles the owner to 1/124th* of the BTC proceeds from the group of 2 KNC Jupiter's mining 24/7 till no longer profitable or sold or 2 years max after which they would belong to OP
- Fee would be KnC Hosting + 2% of BTC mined + Pool fees [BTCGuild?]
- Payment will be made to the address of the share-holder Bi-Weekly, Updates will be posted on a blog
- Miners will be hosted by KnC at KNC facility in Stockholm, Sweden
To purchase shares:
- Send 1 BTC per share to address: 1EHoKXsYVZiTUkUPkgd8HpuFMhJHKkEHUh [This address will be for this GB alone]
- PM me/and post the transaction ID (txid) in this thread.
- ONLY use sending addresses you fully control. I will use the sending address for BTC payouts for your share ownership and if you request change of payout address I will require that you can sign your share purchase address to make this happen OR I WILL NOT CHANGE THE RECEIVING ADDRESS. This is for your own protection.
- Once this Group Buy is complete, I will open up orders for the 5 Jupiters ordered at 500+
- Anyone not included in another 62 share lot before June 9, 2013 will be refunded
IN CASE OF NON DELIVERY OF JUPITER:
- I (adi) take no responsibility for the possibility that KNC Miner does not deliver the Jupiter miner. I (adi) have done what I consider a thorough due diligence, exchanged many emails with Sam since day 1 of KnC announcement, but as we all know, you can never 100% guarantee anything when it comes to pre-orders.
- This Group Buy will be refunded after Nov 1, 2013 if KNC Jupiter is not delivered as per KnC statement
Miscellaneous:
- Once Jupiters are delivered and mining shareholders can sell their shares to shareholders outside of original KNCminer Jupiter Group Buy
- Shareholders can sell their shares before KNC Jupiters are delivered to buyers outside of original Group Buy but will be charged a onetime .1 BTC charge for name transfer
- At my discretion I can suggest to sell KNC Jupiter at any time and majority vote by share holders can decide to sell or not
- I (adi) will not be responsible if KNC Jupiters do not hash at advertised rate of 350 GH/s
Who am I?
- BTC Mining enthusiast, in Boston, USA, Software Developer by the Day
- PM me for information you need to verify identity
- Do not risk more than you can afford to lose, BTC and BTC mining preorders are high risk
Miner01 - 350GHs - Private Buy
Miner02 - 350GHs - 0/62 shares bought - 62 shares left
Miner03 - 350GHs - 0/62 shares bought - 62 shares left
https://i.imgur.com/qth9cNy.png
http://imgur.com/a/ViXue
http://gifcountdown.com/america-new_york/1370782800/141414/0f0f0f/aaaaaa/fdfdfd/faedad/true/counter.gif
As you see, there are 3 Jupiters in 1-500.
My plan is to have KnC Host it;
I believe it would be easier to fix if there is any issue;
It would start mining from Day 1;
It can be shipped later to US [Boston, MA]
I want to keep this simple:
I am planning to buy the first Jupiter for self.
The other 2 are offered for Shares.
Also, I have copied the format for this posting from the other Jupiter group buy.
Offering:
- 124 shares at 1 BTC each are available | 1 BTC ~ 5.6451 GH/s
- Each share entitles the owner to 1/124th* of the BTC proceeds from the group of 2 KNC Jupiter's mining 24/7 till no longer profitable or sold or 2 years max after which they would belong to OP
- Fee would be KnC Hosting + 2% of BTC mined + Pool fees [BTCGuild?]
- Payment will be made to the address of the share-holder Bi-Weekly, Updates will be posted on a blog
- Miners will be hosted by KnC at KNC facility in Stockholm, Sweden
To purchase shares:
- Send 1 BTC per share to address: 1EHoKXsYVZiTUkUPkgd8HpuFMhJHKkEHUh [This address will be for this GB alone]
- PM me/and post the transaction ID (txid) in this thread.
- ONLY use sending addresses you fully control. I will use the sending address for BTC payouts for your share ownership and if you request change of payout address I will require that you can sign your share purchase address to make this happen OR I WILL NOT CHANGE THE RECEIVING ADDRESS. This is for your own protection.
- Once this Group Buy is complete, I will open up orders for the 5 Jupiters ordered at 500+
- Anyone not included in another 62 share lot before June 9, 2013 will be refunded
IN CASE OF NON DELIVERY OF JUPITER:
- I (adi) take no responsibility for the possibility that KNC Miner does not deliver the Jupiter miner. I (adi) have done what I consider a thorough due diligence, exchanged many emails with Sam since day 1 of KnC announcement, but as we all know, you can never 100% guarantee anything when it comes to pre-orders.
- This Group Buy will be refunded after Nov 1, 2013 if KNC Jupiter is not delivered as per KnC statement
Miscellaneous:
- Once Jupiters are delivered and mining shareholders can sell their shares to shareholders outside of original KNCminer Jupiter Group Buy
- Shareholders can sell their shares before KNC Jupiters are delivered to buyers outside of original Group Buy but will be charged a onetime .1 BTC charge for name transfer
- At my discretion I can suggest to sell KNC Jupiter at any time and majority vote by share holders can decide to sell or not
- I (adi) will not be responsible if KNC Jupiters do not hash at advertised rate of 350 GH/s
Who am I?
- BTC Mining enthusiast, in Boston, USA, Software Developer by the Day
- PM me for information you need to verify identity
- Do not risk more than you can afford to lose, BTC and BTC mining preorders are high risk
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