[Group Buy] Avalon ASIC Batch 3 [CLOSED- Seven 4 module Avalons ordered] - page 11.

SebastianJu

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Quote from: relm9 on March 30, 2013, 06:56:36 PM

I would rather not use an exchange, it's probably the easiest option but we could run into potential issues if they got hacked, suffer from downtime, etc.

Buying and selling shares seems like a maintenance nightmare, though, I guess it wouldn't be too bad if purchases are limited to those within the group already. Someone else said it (and I agree with them) that any share selling should be locked once the Avalons arrive to minimize the workload for CH.

Newer exchanges address the problems that happened with glbse.com. I wouldnt store money on an exchange for longer anyway and users and issuers can get a csv-list with all the shares connected to the members so that the death of such exchange wouldnt mean a big problem.

relm9

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I would rather not use an exchange, it's probably the easiest option but we could run into potential issues if they got hacked, suffer from downtime, etc.

Buying and selling shares seems like a maintenance nightmare, though, I guess it wouldn't be too bad if purchases are limited to those within the group already. Someone else said it (and I agree with them) that any share selling should be locked once the Avalons arrive to minimize the workload for CH.

mrbrt

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Quote from: koquillion on March 30, 2013, 06:12:30 PM

Quote from: mrbrt on March 30, 2013, 06:00:09 PM

Quote from: koquillion on March 30, 2013, 01:58:38 PM

Quote from: CryptoZen on March 30, 2013, 12:28:26 PM

How do we deal with that if we are to group all of the unwanted shares from multiple sellers into 1 pool?

We could decide on a collective offer per share? We probably wouldn't be able to match every offer to buy/sell (since apparently 3 times the investment amount has already been offered) but if we can include most of them, trading would at least be less effort in administration and still make most people happy. Having a smaller number of investors in total probably makes things easier overall.

I would not be against offering a somewhat larger amount (though not double) than the actual amount invested as a compensation.

I think this is worth a shot, especially if several investors are interested in dumping their shares, per CH's earlier post.

As far as admin goes I would be willing to help in whatever role is needed. Perhaps someone with the expertise can set up a site to automate the btc mined minus fees, electric, etc, and then divy up btc payout per share %?

Toresh

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My 1 BTC deposit and the address are both correct.

Great work CH

A Meteorite

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I would be hesitant to have this venture use an exchange. While it would make buying and selling shares easier, along with dividends, we've all seen what happened to GLBSE... if an exchange goes belly up it tends to make life really hard dealing with the administrative work and for share owners.

Also, I checked out your spreadsheet earlier CoinHoarder. Looks good for me! Grin

CoinHoarder

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In Cryptocoins I Trust

Quote from: cryptojournal on March 30, 2013, 05:15:17 PM

Hi CH,

I'm not a big fan of this option [edit: mainly because it introduces a layer of counterparty risk (exchange trust/hack), which I consider is very low when dealing directly with you], but I must confess I haven't had the time to think it out. But if you really want to list this on an exchange, please list it on btct, not LTC Global. This is a BTC group buy for a product generating BTCs, and not LTC, so I think it has no place on ltc global, which would force a conversion everytime a dividend is paid, and I'm not even talking about the fees...

Quote from: mat542 on March 30, 2013, 06:23:23 PM

As Cryptojournal said, if you want to use an exchange, use BTCT. But I also would prefer receiving BTC directly from you.

I see that there are 100 investors that put on the table less than 10 BTC and 32 that put 10 BTC or more.
For those who want to sell there shares, they should be allowed only for a short period of time and only with those who already have shares. That way, you will have less investors and less transactions to do each month.

I agree, I dunno why I suggested LTCglobal first... I guess it was the first exchange that popped into my head.

BTCT would definitely be the best route to go IF we are to get listed on an exchange.

silvercoins

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I think all trading should remain internal (between existing shareholders) unless there is no demand for shares amongst us (doubtful). I agree this lessens the work load for CH/admin.

sc

mat542

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Quote from: CoinHoarder on March 30, 2013, 05:11:22 PM

Hi all, hope you're having a nice holiday weekend!

I am seriously entertaining the idea of adding our group as an asset on Litecoinglobal.com. This would solve several problems for me and the group immediately.

First of all, this would allow everyone in the group to buy and sell shares at any time without me having to do all the work. I can tell you guys right now, my fees are very small and soon difficulty will be very high. I do not want to spend all my free time transferring shares all the time for everyone for pennies. I need to have a life too.

Secondly, this would be a way for me to streamline dividend payments. This is one of the only remaining things to figure out before our Avalons come. I could write a shell script for bitcoind to do this, but then I will not be allowing the buying/selling of ahares because it would again, require too much upkeep for little incentive.

Honestly, I'm not too familiar with litecoinglobal or what kind of fees, etc. would be involved, but I know it is a possible solution to the problems we face ahead of us. I am interested in everyone's opinions on this and how we should proceed. Please speak up!

Thanks,

Ch

As Cryptojournal said, if you want to use an exchange, use BTCT. But I also would prefer receiving BTC directly from you.

I see that there are 100 investors that put on the table less than 10 BTC and 32 that put 10 BTC or more.
For those who want to sell there shares, they should be allowed only for a short period of time and only with those who already have shares. That way, you will have less investors and less transactions to do each month.

koquillion

newbie

Activity: 42

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Quote from: mrbrt on March 30, 2013, 06:00:09 PM

Quote from: koquillion on March 30, 2013, 01:58:38 PM

Quote from: CryptoZen on March 30, 2013, 12:28:26 PM

How do we deal with that if we are to group all of the unwanted shares from multiple sellers into 1 pool?

We could decide on a collective offer per share? We probably wouldn't be able to match every offer to buy/sell (since apparently 3 times the investment amount has already been offered) but if we can include most of them, trading would at least be less effort in administration and still make most people happy. Having a smaller number of investors in total probably makes things easier overall.

I would not be against offering a somewhat larger amount (though not double) than the actual amount invested as a compensation.

W-M

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In Crypto we Trust.

Quote from: mrbrt on March 30, 2013, 06:00:09 PM

Quote from: koquillion on March 30, 2013, 01:58:38 PM

Quote from: CryptoZen on March 30, 2013, 12:28:26 PM

What I'm hoping, is that there is enough buying interest within our own group to purchase anybody who wants out, for exactly the price they came in (I'll probably be a buyer). If we give ourselves two weeks to set up the guidelines and such, and have CH's approval ahead of that time, then the first "bulk transfer" of those who want to sell could happen on April 14th.

I am wondering why some want out so quickly - after just a few days, other than making a quick profit by selling their share at two or three times their investment. I think somewhere in the topic a listing on Litecoinglobal was mentioned. That's probably a good option, but until then, since almost everybody wants to either buy more or sell everything, the fairest way (at least for this first redistribution of shares) is probably dividing up all shares to be sold amongst all those looking to buy more, by % already invested, by % willing to additional invest or just divided up by number of buyers.

I agree with this approach, because it would be the most fair for the buyers of the unwanted shares. However, the problem lies with the sellers possibly wanting to be compensated differently for their shares. How do we deal with that if we are to group all of the unwanted shares from multiple sellers into 1 pool?

I also agree with what mrbrt and koquillion said. But this is a difficult matter. I have no idea why some people want to get out already, but I guess that certain circumstances can always change things. I would be willing to buy some shares as well, if some of the other people who invested one or two bitcoins are dropping out. I don't have that much money myself, but I do think that this is a great opportunity.

But indeed, people wanting different amounts of money for their shares might be troublesome. We could maybe decide on some fixed price, but then again I don't know if everyone would agree to that.

Quote from: koquillion on March 30, 2013, 05:58:21 PM

Quote from: ThingNL on March 30, 2013, 04:52:33 PM

That will not do.... when all is up and running, and the dust has settled... I want at least one picture of "My Precious" working his butt off... So I move we have CH put a large sticker on every machine
with a number... don't care on what order of color.... as long as there is a "My Precious" with a large #1 on it....

Also, we need a jazzy name for our group Grin

What about something like... the Bebop Batch Miners. Jazzy enough? Tongue

mrbrt

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Activity: 707

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Quote from: koquillion on March 30, 2013, 01:58:38 PM

Quote from: CryptoZen on March 30, 2013, 12:28:26 PM

What I'm hoping, is that there is enough buying interest within our own group to purchase anybody who wants out, for exactly the price they came in (I'll probably be a buyer). If we give ourselves two weeks to set up the guidelines and such, and have CH's approval ahead of that time, then the first "bulk transfer" of those who want to sell could happen on April 14th.

I am wondering why some want out so quickly - after just a few days, other than making a quick profit by selling their share at two or three times their investment. I think somewhere in the topic a listing on Litecoinglobal was mentioned. That's probably a good option, but until then, since almost everybody wants to either buy more or sell everything, the fairest way (at least for this first redistribution of shares) is probably dividing up all shares to be sold amongst all those looking to buy more, by % already invested, by % willing to additional invest or just divided up by number of buyers.

I agree with this approach, because it would be the most fair for the buyers of the unwanted shares. However, the problem lies with the sellers possibly wanting to be compensated differently for their shares. How do we deal with that if we are to group all of the unwanted shares from multiple sellers into 1 pool?

koquillion

newbie

Activity: 42

Merit: 0

Quote from: ThingNL on March 30, 2013, 04:52:33 PM

That will not do.... when all is up and running, and the dust has settled... I want at least one picture of "My Precious" working his butt off... So I move we have CH put a large sticker on every machine
with a number... don't care on what order of color.... as long as there is a "My Precious" with a large #1 on it....

Also, we need a jazzy name for our group Grin

koquillion

newbie

Activity: 42

Merit: 0

Quote from: CoinHoarder on March 30, 2013, 05:11:22 PM

I am seriously entertaining the idea of adding our group as an asset on Litecoinglobal.com. This would solve several problems for me and the group immediately.

I would be a possible option if the amount of trades remains high, but maybe it's best (since they haven't arrived yet and won't for a while) to see if the volume keeps up after an initial rearranging of shares?

cryptojournal

member

Activity: 108

Merit: 10

Quote from: CoinHoarder on March 30, 2013, 05:11:22 PM

Hi all, hope you're having a nice holiday weekend!

I am seriously entertaining the idea of adding our group as an asset on Litecoinglobal.com. This would solve several problems for me and the group immediately.

First of all, this would allow everyone in the group to buy and sell shares at any time without me having to do all the work. I can tell you guys right now, my fees are very small and soon difficulty will be very high. I do not want to spend all my free time transferring shares all the time for everyone for pennies. I need to have a life too.

Secondly, this would be a way for me to streamline dividend payments. This is one of the only remaining things to figure out before our Avalons come. I could write a shell script for bitcoind to do this, but then I will not be allowing the buying/selling of ahares because it would again, require too much upkeep for little incentive.

Honestly, I'm not too familiar with litecoinglobal or what kind of fees, etc. would be involved, but I know it is a possible solution to the problems we face ahead of us. I am interested in everyone's opinions on this and how we should proceed. Please speak up!

Thanks,

Ch

Hi CH,

I'm not a big fan of this option [edit: mainly because it introduces a layer of counterparty risk (exchange trust/hack), which I consider is very low when dealing directly with you], but I must confess I haven't had the time to think it out. But if you really want to list this on an exchange, please list it on btct, not LTC Global. This is a BTC group buy for a product generating BTCs, and not LTC, so I think it has no place on ltc global, which would force a conversion everytime a dividend is paid, and I'm not even talking about the fees...

cryptojournal

member

Activity: 108

Merit: 10

Quote from: louhija on March 30, 2013, 03:47:50 PM

Quote from: SebastianJu on March 30, 2013, 03:32:04 PM

Ok, so spread risks... i mean it has advantages this way too.

At least that's what I'd like to see. Can't speak for anyone else. We should propably do a google group or something so we could spread documents and do polls very easily.

I'm for sharing the risk. I think it's more fair and much more simple this way.

CoinHoarder

legendary

Activity: 1484

Merit: 1026

In Cryptocoins I Trust

Hi all, hope you're having a nice holiday weekend!

I am seriously entertaining the idea of adding our group as an asset on Litecoinglobal.com. This would solve several problems for me and the group immediately.

First of all, this would allow everyone in the group to buy and sell shares at any time without me having to do all the work. I can tell you guys right now, my fees are very small and soon difficulty will be very high. I do not want to spend all my free time transferring shares all the time for everyone for pennies. I need to have a life too.

Secondly, this would be a way for me to streamline dividend payments. This is one of the only remaining things to figure out before our Avalons come. I could write a shell script for bitcoind to do this, but then I will not be allowing the buying/selling of ahares because it would again, require too much upkeep for little incentive.

Honestly, I'm not too familiar with litecoinglobal or what kind of fees, etc. would be involved, but I know it is a possible solution to the problems we face ahead of us. I am interested in everyone's opinions on this and how we should proceed. Please speak up!

Thanks,

Ch

koquillion

newbie

Activity: 42

Merit: 0

Quote from: Rampion on March 30, 2013, 04:49:53 PM

Reminder: I could use some immediate liquidity, therefore I'm willing to sell my shares if offer good enough. If interested please PM

I'm willing to buy your shares, but I'm not going to offer double or more for them (some profit, however, just for getting in the coins for the project is fine). If you'll accept such offers I'll buy your shares.

ThingNL

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Activity: 17

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Quote from: Rampion on March 30, 2013, 04:41:44 PM

Quote from: norman on March 30, 2013, 04:39:19 PM

Quote from: louhija on March 30, 2013, 03:47:50 PM

Quote from: SebastianJu on March 30, 2013, 03:32:04 PM

Ok, so spread risks... i mean it has advantages this way too.

At least that's what I'd like to see. Can't speak for anyone else. We should propably do a google group or something so we could spread documents and do polls very easily.

As a later buyer, I would not be overly-offended if somehow those earlier in ended up with some tiny advantage, but it was fairly clear at least past the first or second unit that it would be a group buy. In any case, it's clearly in everyone's interest to spread the risk across all the machines. Would the couple people first in truly be happy if machine one didn't come up and they sat on the sidelines for a week or two while the issue was resolved. Having so many units is really nice with this regard.

You won't be able to tell which is "machine 1" or "machine 7"

That will not do.... when all is up and running, and the dust has settled... I want at least one picture of "My Precious" working his butt off... So I move we have CH put a large sticker on every machine
with a number... don't care on what order of color.... as long as there is a "My Precious" with a large #1 on it....

Rampion

legendary

Activity: 1148

Merit: 1018

Quote from: koquillion on March 30, 2013, 04:46:18 PM

Quote from: Rampion on March 30, 2013, 04:41:44 PM

Quote from: norman on March 30, 2013, 04:39:19 PM

Quote from: louhija on March 30, 2013, 03:47:50 PM

Quote from: SebastianJu on March 30, 2013, 03:32:04 PM

Ok, so spread risks... i mean it has advantages this way too.

At least that's what I'd like to see. Can't speak for anyone else. We should propably do a google group or something so we could spread documents and do polls very easily.

As a later buyer, I would not be overly-offended if somehow those earlier in ended up with some tiny advantage, but it was fairly clear at least past the first or second unit that it would be a group buy. In any case, it's clearly in everyone's interest to spread the risk across all the machines. Would the couple people first in truly be happy if machine one didn't come up and they sat on the sidelines for a week or two while the issue was resolved. Having so many units is really nice with this regard.

You won't be able to tell which is "machine 1" or "machine 7"

They have different order numbers (except the first two), so it would be possible if a majority would really want to. Let's hope they don't.

Im an early investor (order 1), but still I don't see why we shouldn't spread the risk on all machines.

Reminder: I could use some immediate liquidity, therefore I'm willing to sell my shares if offer good enough. If interested please PM

koquillion

newbie

Activity: 42

Merit: 0

Quote from: Rampion on March 30, 2013, 04:41:44 PM

Quote from: norman on March 30, 2013, 04:39:19 PM

Quote from: louhija on March 30, 2013, 03:47:50 PM

Quote from: SebastianJu on March 30, 2013, 03:32:04 PM

Ok, so spread risks... i mean it has advantages this way too.

At least that's what I'd like to see. Can't speak for anyone else. We should propably do a google group or something so we could spread documents and do polls very easily.

As a later buyer, I would not be overly-offended if somehow those earlier in ended up with some tiny advantage, but it was fairly clear at least past the first or second unit that it would be a group buy. In any case, it's clearly in everyone's interest to spread the risk across all the machines. Would the couple people first in truly be happy if machine one didn't come up and they sat on the sidelines for a week or two while the issue was resolved. Having so many units is really nice with this regard.

You won't be able to tell which is "machine 1" or "machine 7"

They have different order numbers (except the first two), so it would be possible if a majority would really want to. Let's hope they don't.

Topic: [Group Buy] Avalon ASIC Batch 3 [CLOSED- Seven 4 module Avalons ordered] - page 11. (Read 49861 times)