[Group Buy]12 KNCminer Jupiter's 15 Sold [Closed] Jupiter Pool - page 9.

soniq

sr. member

Activity: 462

Merit: 250

Quote from: Tiennou74 on January 20, 2014, 10:39:23 PM

Thanks.
2questions:
How come the GB never got more than 85btc of compensation (we lost over 300btc!)

Good question, KNC decided they didnt have to and a legal opinion agreed.

Quote

Do we need a NMC address or will you convert to BTC?
Thanks

You can verify your NMC address here by signing with your GB payment address http://bitcoinfun.ca/nmcsign/

Tiennou74

sr. member

Activity: 546

Merit: 250

Thanks.
2questions:
How come the GB never got more than 85btc of compensation (we lost over 300btc!)
Do we need a NMC address or will you convert to BTC?
Thanks

soniq

sr. member

Activity: 462

Merit: 250

Dividend payment made 32279ab5df9fd2b327500949fd0b5bcadda47d6f36cbf3283dbb11519f506436

Progress report:

-We have separated the wallets and balanced the amounts owing. Will post the separated wallet balance sheet as soon as we review it again. Once you see it you will understand.

- Have balanced the ledger and will post publicly tomorrow, we want to review it again tomorrow with fresh eyes.

- regarding dutu comments that we started mining the same time as Addiction is not true. Addiction took physical delivery and was mining 4 to 5 days before our hosted Jupiters started mining. The Jupiters were mining almost 3 BTC a day at that point. In fact I created a spreadsheet showing lost income from late delivery of Jupiters. https://docs.google.com/spreadsheet/ccc?key=0AtH6ASvoAExHdF9IcFh3QmQ2dEt4Zk5qT3lRUDFDTVE&usp=drive_web&pli=1#gid=24

- Will be making the next hosting payment on Feb 01

-We will start on issuing NMC immediately after we finish balancing all wallets and have been confirmed by group members

BenTuras

hero member

Activity: 826

Merit: 1001

Quote from: dutu on January 20, 2014, 11:00:06 AM

Hi Ben,

Sorry I am addressing the communication to you as you seem to be Soniq's spokesperson (we had no communication from Soniq himself).
Are we still on-track with the activities, or any challenges?
Would appreciate feedback.

Thanks!

I am not Soniqs spokesperson at all.
I am only helping the group buy and Soniq to get things back on track.

I contacted Soniq and he confirmed that payment will be done today, if agibby(who is helping him and the group too) is available.

Bitbuy

sr. member

Activity: 308

Merit: 250

Would like to know this as well; wouldn't look good to miss the first milestone....and no communication?

dutu

member

Activity: 73

Merit: 10

Quote from: BenTuras on January 13, 2014, 04:12:14 PM

I had a chat with Soniq on Skype. This is the outcome:
- He is getting help from agibby5 to solve all past issues. This will be ready before Sunday 10pm Ontario time and he will report the outcome to us here.
- When the check is ready, he will email me all information needed for me to do a double check. I will report back a week later, don't want to do a rush job.

Hi Ben,

Sorry I am addressing the communication to you as you seem to be Soniq's spokesperson (we had no communication from Soniq himself).
Are we still on-track with the activities, or any challenges?
Would appreciate feedback.

Thanks!

BenTuras

hero member

Activity: 826

Merit: 1001

Quote from: dutu on January 14, 2014, 05:34:26 PM

Please let us have a proper calculation, something is seems to be wrong here!

Hi Dutu,
Please be patient, we are working on this. Soniq has agreed to the timeline in one of my previous messages and until now he is ahead of that schedule. I already received information and made a list of comments for him to work on.

dutu

member

Activity: 73

Merit: 10

Hi Soniq, Ben and other GB members,

I have received the message below from soniq

Quote from: soniq on January 14, 2014, 04:46:20 AM

Hi

I havent released the books yet, but it appears that the whole GB has been overpaid 100 BTC out my personal income. To 70 BTC still being owed. So less than $6000 yet to being paid out being worst case scenario.

So I would you appreciate you removing my personal information in a public forum.

Well, I have removed the personal information from the forum, as requested.

The dividend payouts and book keeping seams to be a big mess. I really hope soniq will take the time and seriousity to get this fixed now and that the calculation above is just part of the mess that will be fixed.

To bring to your attention missing dividend payments…

I mentioned before, I also own shares in the other group buy for KnC Jupiter (ADDICTION GB), which started mining DAY ONE just as our GB1.

As per dividend payouts I have received so far from soniq, return per 1 BTC invested is 0.51 BTC; in comparison ADDICTION GB has returned 0.69 BTC per BTC invested.
This means I am still missing 35% in dividend payouts from soniq.

I am posting here my logbook if anybody is interested in the details http://sdrv.ms/L1imNB

Now to give you an idea what this means for us as a GB:
I own 400 shares in GB1; GB1 consists of 45000 shares. Simple calculation shows that GB1 (only) is still missing dividend payments of 184 BTC, which at today’s BTC rate is 150 kUSD. And this is for GB1 only.
150 000 USD missing payments cannot be considered a small amount I believe.

Please let us have a proper calculation, something is seems to be wrong here!

BenTuras

hero member

Activity: 826

Merit: 1001

Quote from: MilkyLep on January 13, 2014, 11:54:07 PM

Quote from: BenTuras on January 13, 2014, 04:12:14 PM

...snip...
- Until now, these are the only expenses paid from the mining income: Hosting fee twice, management fee and penalty for paying hosting fee late. The programmer has not been paid for his work(wasn't finished).
- On Monday 20th of January, the day after Soniq has reported the outcome of all corrections, we can expect a 50% dividend payment of all dividend due by January 19th.
- Monday 27th of January, the day after I have reported the outcome of the second book check, we can expect the remainder of the 50% dividend payment due by January 19th.
- From Sunday 2nd of February weekly dividend payments will be done.

Soniq was very cooperative and wants to get this behind us. If he does what he promised, it will happen.

And If I understand correctly February 2nd will include the dividends of January 20th to Feb 2nd?

The answer to that question is in the italic part above. But I will try to make it even more clear:

Code:

When What
20-Jan-2014 50% of dividend due on 19-Jan-2014 (taking into account all corrections from the start of the GB till 19-Jan-2014)
27-Jan-2014 remaining 50% of dividend due on 19-Jan-2014(including corrections if I find errors)
02-Feb-2014 100% of dividend due on 01-Feb-2014 (so dividend accumulated until 01-Feb-2014 minus dividend already paid)
09-Feb-2014 100% of dividend due on 08-Feb-2014 (dividend accumulated until 08-Feb-2014 minus dividend already paid)
16-Feb-2014 100% of dividend due on 15-Feb-2014 (dividend accumulated until 15-Feb-2014 minus dividend already paid)
And from here on every week on the same day, the same event as above. Weekly payment of dividend.

Every time Soniq has one day to calculate the dividend and do the payment.

I know the scheme above is lenghty in time, but I think we all prefer correct and fair dividends compares to a rush job that could cause even more errors and anger.

Soniq agreed to the scheme above.

If he can't do a payment on one of the preset dates(because of holidays, sickness,....) he needs to post a message in this thread and mention the date the dividend will be calculated and paid.

MilkyLep

hero member

Activity: 583

Merit: 500

Bitcoin for all & all for Bitcoin

Quote from: BenTuras on January 13, 2014, 04:12:14 PM

...snip...
- Until now, these are the only expenses paid from the mining income: Hosting fee twice, management fee and penalty for paying hosting fee late. The programmer has not been paid for his work(wasn't finished).
- On Monday 20th of January, the day after Soniq has reported the outcome of all corrections, we can expect a 50% dividend payment of all dividend due by January 19th.
- Monday 27th of January, the day after I have reported the outcome of the second book check, we can expect the remainder of the 50% dividend payment due by January 19th.
- From Sunday 2nd of February weekly dividend payments will be done.

Soniq was very cooperative and wants to get this behind us. If he does what he promised, it will happen.

I'm looking forward to the numbers and accounts in the next update. It is sorely needed and vastly overdue.

Soniq, can you explain the bolded comment by BenTuras? Aren't all responsibilities such as payments, communication and accounting yours? Why was there a late payment for hosting and furthermore if you are taking a management fee shouldn't any penalties for the operation be subtracted from this management fee of yours?

And If I understand correctly February 2nd will include the dividends of January 20th to Feb 2nd?

dutu

member

Activity: 73

Merit: 10

Quote from: BenTuras on January 13, 2014, 04:12:14 PM

I had a chat with Soniq on Skype. This is the outcome:
- He is getting help from agibby5 to solve all past issues. This will be ready before Sunday 10pm Ontario time and he will report the outcome to us here.
- When the check is ready, he will email me all information needed for me to do a double check. I will report back a week later, don't want to do a rush job.
- Until now, these are the only expenses paid from the mining income: Hosting fee twice, management fee and penalty for paying hosting fee late. The programmer has not been paid for his work(wasn't finished).
- On Monday 20th of January, the day after Soniq has reported the outcome of all corrections, we can expect a 50% dividend payment of all dividend due by January 19th.
- Monday 27th of January, the day after I have reported the outcome of the second book check, we can expect the remainder of the 50% dividend payment due by January 19th.
- From Sunday 2nd of February weekly dividend payments will be done.

Soniq was very cooperative and wants to get this behind us. If he does what he promised, it will happen.

Thanks a lot for the update, Ben! Your contribution is excellent!

BenTuras

hero member

Activity: 826

Merit: 1001

I had a chat with Soniq on Skype. This is the outcome:
- He is getting help from agibby5 to solve all past issues. This will be ready before Sunday 10pm Ontario time and he will report the outcome to us here.
- When the check is ready, he will email me all information needed for me to do a double check. I will report back a week later, don't want to do a rush job.
- Until now, these are the only expenses paid from the mining income: Hosting fee twice, management fee and penalty for paying hosting fee late. The programmer has not been paid for his work(wasn't finished).
- On Monday 20th of January, the day after Soniq has reported the outcome of all corrections, we can expect a 50% dividend payment of all dividend due by January 19th.
- Monday 27th of January, the day after I have reported the outcome of the second book check, we can expect the remainder of the 50% dividend payment due by January 19th.
- From Sunday 2nd of February weekly dividend payments will be done.

Soniq was very cooperative and wants to get this behind us. If he does what he promised, it will happen.

Vanderi

sr. member

Activity: 283

Merit: 250

Quote from: soniq on January 13, 2014, 02:50:16 PM

Update on balancing books

Appreciate Bens offer of the spreadsheet, but have software already that is more robust.

The biggest issue was I was using one wallet for three different GB's, mining income and personal use. And even though I labeled every transaction, I wasn't aware that each transaction creates a change address.

So am in the process of manually verifying all the transactions and change addresses to see where the change needs to be allocated too.

I have a member of the group going over all these change addresses currently, and income generated and should be complete this week.

Have since created separate wallets for all GB's to avoid this issue in the future.

The Jupiters are still mining and current income to be paid has been verified.

Namecoin mined was posted in a previous post, but currently the NMC balance is currently about 2200 NMC, again I don't know precise total as I am receiving personally mined NMC into the same wallet. But the public addresses for the GB NMC is N6eYH9gXketBSdCzCjzg9B9aoAZtoGgBvD and N1p98kiGrodAUhxqKZUCaumQKNxHAWtb1D

But should be relatively easy to separate NMC balance as there is no transactions at all out of this wallet

I apologize for the delay

If Ben is ok with it, I would like to see him closer to the ongoings of the GB for the future.

dutu

member

Activity: 73

Merit: 10

Soniq, please post expenses incurred so far and amount of bitcoin mined.
When can we have this information as it was NEVER communicated?

soniq

sr. member

Activity: 462

Merit: 250

Update on balancing books

Appreciate Bens offer of the spreadsheet, but have software already that is more robust.

The biggest issue was I was using one wallet for three different GB's, mining income and personal use. And even though I labeled every transaction, I wasn't aware that each transaction creates a change address.

So am in the process of manually verifying all the transactions and change addresses to see where the change needs to be allocated too.

I have a member of the group going over all these change addresses currently, and income generated and should be complete this week.

Have since created separate wallets for all GB's to avoid this issue in the future.

The Jupiters are still mining and current income to be paid has been verified.

Namecoin mined was posted in a previous post, but currently the NMC balance is currently about 2200 NMC, again I don't know precise total as I am receiving personally mined NMC into the same wallet. But the public addresses for the GB NMC is N6eYH9gXketBSdCzCjzg9B9aoAZtoGgBvD and N1p98kiGrodAUhxqKZUCaumQKNxHAWtb1D

But should be relatively easy to separate NMC balance as there is no transactions at all out of this wallet

I apologize for the delay

MilkyLep

hero member

Activity: 583

Merit: 500

Bitcoin for all & all for Bitcoin

Quote from: dutu on January 13, 2014, 09:02:53 AM

yes, soniq is in Canada, Edmonton
Larry A. Strawson

Am I the only one missing dividends payment this week?
Anyone received any reply or feedback? I see he is still on-line but no reply to any of the messages here on the forum... still waiting...

Nothing on any fronts...

dutu

member

Activity: 73

Merit: 10

[Edit... removed soniq contact details]

Am I the only one missing dividends payment this week?
Anyone received any reply or feedback? I see he is still on-line but no reply to any of the messages here on the forum... still waiting...

Deoptics8

newbie

Activity: 16

Merit: 0

He sent us an email during the offer period, on July 3rd, stating that he was in Canada during Canada Day. I believe it is in western Canada due to the times he sent the emails. This should help any sponsorship of meeting him, if needed, for any North American volunteers. The only reason I confirmed it was that I work for small fiber optic carrier that has colo facilities in New Jersey, Halifax, Dublin, Ireland and Manchester, U.K. if hosting this GB would be a viable option versus @ KNC in Stockholm. With these results, I haven't pursue it further. I unfortunately cannot assist until mid-February as I am on business trips until then, but I am willing to help with the sponsorship. There is also no response on his own site, I am watching and waiting. Huh

Bitbuy

sr. member

Activity: 308

Merit: 250

Please respond, can't be so hard:
Last Active: January 11, 2014, 05:47:51 PM

Vanderi

sr. member

Activity: 283

Merit: 250

On second thought, give full rights and percentages to Ben, he's the one who stopped this from getting into clusterf*ck mode and it's all downhill from now anyway

Topic: [Group Buy]12 KNCminer Jupiter's 15 Sold [Closed] Jupiter Pool - page 9. (Read 75560 times)