Topic: [Joint Venture] Let´s run a 180GH DX-Large together (Read 2254 times)
If you guys are still looking for another option for purchasing the hardware, I posted my DX Large on Bitmit. There is a link in my signature. I would be willing to work out terms with the group buy operator to make this work for everyone, including meeting in person to conduct the transaction.
After some messaging with bargraphics, TheSwede and the mining bird...
... I am out.
In the end it´s too many risks and uncertainty for me. I also don´t see how we can find terms that suit the group and bargraphics.
Gentlemen, thank you for your time and thoughts. Could have been nice, won´t happen with me.
If anyone wants to continues this, let me know!
... I am out.
In the end it´s too many risks and uncertainty for me. I also don´t see how we can find terms that suit the group and bargraphics.
Gentlemen, thank you for your time and thoughts. Could have been nice, won´t happen with me.
If anyone wants to continues this, let me know!
What happens if it doesnt find à block for à week
Sounds ok to me 😄
The terrahash does it belongs to a pool and are there Any fees? Of does it solo mine
The terrahash does it belongs to a pool and are there Any fees? Of does it solo mine
As I understand it they will solo mine and the only fees are the 50 USD per month.
Sounds ok to me 😄
The terrahash does it belongs to a pool and are there Any fees? Of does it solo mine
The terrahash does it belongs to a pool and are there Any fees? Of does it solo mine
I have updated our rules. What do you guys think?
If TheSwede75 accepts them, we will start collecting the shares to his escrow address.
If TheSwede75 accepts them, we will start collecting the shares to his escrow address.
need escrow? 
Indeed we do
What are your conditions?
As for escrow I can vouch for Canaryinthemine. I have dealt with him many times and he is exceptionally honest and friendly. I can only assume he would vouch for me as well.
It´s not an auction anymore. It´s 150 BTC buy now.
When our budget gets somewhere close, we can make bargraphics an offer he can´t refuse
When our budget gets somewhere close, we can make bargraphics an offer he can´t refuse
So we have two offers for escrow.
The existing group agrees that 150 BTC is a good budget.
Right now we lack 80 BTC in shareholders / budget.
The existing group agrees that 150 BTC is a good budget.
Right now we lack 80 BTC in shareholders / budget.
need escrow?
Indeed we do
What are your conditions?
need escrow?
Indeed we do
What are your conditions?
We would found a joint venture. The goal is to bid for this Terrahash rig:
https://bitcointalksearch.org/topic/m.2523493
Rough scetch of our Agenda:
list of members / budget
I´d say our target should be a budget of 150 BTC, and we should then internally agree on a maximum bid that is lower than 150.
Who would do the escrow/dividend payment? At what fee?
need escrow? https://bitcointalksearch.org/topic/m.2523493
Rough scetch of our Agenda:
Quote
1) we find a reputated escrow
2) the members pay their share to the escrow
3.1) Minimum Share = 20BTC
3) we agree on a maximum bid
4) escrow is the representative of the group
5) If we should win
5.1) He will be our representative owner, the rig will be hosted at Terrahash
5.2) He will pay back the difference between paid shares/budget and actual bid to the share holders
5.3) He will regularly pay out the dividends to the share holders
5.4) He will get some kind of fee
6) If we should fail, he will pay back the shares/budget immediately
7) these rules need to be finetuned
7.1) We need to agree on an safe internal means of communications - suggestions? bitmessage?!
7.2) We need to agree on voting system for decisions
7.3) Any rules for how the shares should be traded?!
2) the members pay their share to the escrow
3.1) Minimum Share = 20BTC
3) we agree on a maximum bid
4) escrow is the representative of the group
5) If we should win
5.1) He will be our representative owner, the rig will be hosted at Terrahash
5.2) He will pay back the difference between paid shares/budget and actual bid to the share holders
5.3) He will regularly pay out the dividends to the share holders
5.4) He will get some kind of fee
6) If we should fail, he will pay back the shares/budget immediately
7) these rules need to be finetuned
7.1) We need to agree on an safe internal means of communications - suggestions? bitmessage?!
7.2) We need to agree on voting system for decisions
7.3) Any rules for how the shares should be traded?!
list of members / budget
Quote
bitcoinmaxe 20
threedrules 20
thehun 10
TheFuneral 20
threedrules 20
thehun 10
TheFuneral 20
I´d say our target should be a budget of 150 BTC, and we should then internally agree on a maximum bid that is lower than 150.
Who would do the escrow/dividend payment? At what fee?
If you can decide on the escrow terms I am willing to Escrow for 1.5% in offline cold wallet. I have solid rep (see. Thread in sig) and am the facilitator and future miner of two group buys (KNC/Bitfury - see successfully closed group buys in the group buy thread). I live in the US, and have several longtime members and other group buy members and Escrow parties that can validate my rep/honesty.
Thank you for the offer, we will consider it.
If you would rather go with a more well known escrow I recommend JohnK. I think he charges 2-2.5%
If you can decide on the escrow terms I am willing to Escrow for 1.5% in offline cold wallet. I have solid rep (see. Thread in sig) and am the facilitator and future miner of two group buys (KNC/Bitfury - see successfully closed group buys in the group buy thread). I live in the US, and have several longtime members and other group buy members and Escrow parties that can validate my rep/honesty.
Thank you for the offer, we will consider it.
If you can decide on the escrow terms I am willing to Escrow for 1.5% in offline cold wallet. I have solid rep (see. Thread in sig) and am the facilitator and future miner of two group buys (KNC/Bitfury - see successfully closed group buys in the group buy thread). I live in the US, and have several longtime members and other group buy members and Escrow parties that can validate my rep/honesty.
Do you guys think a total budget of 150 is ok?
If I remember right, they are to be expected in the beginning of August.
You have one member interested.
What's the ETA on the units, I realize this might not be a realistic date, but it's at least a date.
What's the ETA on the units, I realize this might not be a realistic date, but it's at least a date.
As much as I hope you are successful this is a pretty bad idea out of a cost/ROI view. Your 'max bid' will obviously have to be public for the group buy to raise funds, thus making it 100% certain that the max bid is the final price, as OP from sale thread has a vested interest in selling for as high of a price as possible.
I have considered this type of group buy before, but always failed in that point.
IMHO there are 3 possible ways to set up a group buy aimed at procuring an auction miner:
- Make a fixed price deal with owner outside of auction.
- Group buy operator carries risk.
- set up the group buy as a Share/GH buy, where the margin is high enough for the group buy organizer to alleviate most risk and as close to possible guarantee a successful purchase
Out of these 3 options only option 1 is 100% viable, 2 asks a lot from the organizer as he/she may end up in a situation where he carries a loss or has to refund share holders and 3 runs the risk of making the group buy unattractive to buyers.
I wish you good luck and hope you can find a viable solution. If you would like any help in structuring the group buy I am happy to help. And please don't take this as criticism or FUD, just feedback.
I have considered this type of group buy before, but always failed in that point.
IMHO there are 3 possible ways to set up a group buy aimed at procuring an auction miner:
- Make a fixed price deal with owner outside of auction.
- Group buy operator carries risk.
- set up the group buy as a Share/GH buy, where the margin is high enough for the group buy organizer to alleviate most risk and as close to possible guarantee a successful purchase
Out of these 3 options only option 1 is 100% viable, 2 asks a lot from the organizer as he/she may end up in a situation where he carries a loss or has to refund share holders and 3 runs the risk of making the group buy unattractive to buyers.
I wish you good luck and hope you can find a viable solution. If you would like any help in structuring the group buy I am happy to help. And please don't take this as criticism or FUD, just feedback.
Let me try to clarify my approach:
Let´s say we have 7 Members with 20 BTC share each.
You become a member of this group by transferring your share to the escrow.
We internally agree on a maximum bid, lets say 110 BTC.
If we succeed, the very first payment will be the 30BTC remaining capital.
If we don´t we will get our shares back(-escrow fee)
I don´t see the need to agree on our max-bid publicly. I understand that you would like to know the max-bid in advance.
In this point I trust that the other member´s will have some common sense / math-skill.
Maybe a rule on how to find agreements in the group would help increase the trust.
How to vote on decisions?
A 51% majority of shares needed?
Other decisions will be necessary in the future. Like should we sell the rig and so on...
I totally understand, and I hope it works out. I think you will find that these types of trust-based group buys or group buys with non 100% pre-set parameters usually have a low chance of success. That said, I wish you the best.
Thank you for your wishes and thoughts. I appreciate your feedback. If you have any more ideas, please let me know.
As much as I hope you are successful this is a pretty bad idea out of a cost/ROI view. Your 'max bid' will obviously have to be public for the group buy to raise funds, thus making it 100% certain that the max bid is the final price, as OP from sale thread has a vested interest in selling for as high of a price as possible.
I have considered this type of group buy before, but always failed in that point.
IMHO there are 3 possible ways to set up a group buy aimed at procuring an auction miner:
- Make a fixed price deal with owner outside of auction.
- Group buy operator carries risk.
- set up the group buy as a Share/GH buy, where the margin is high enough for the group buy organizer to alleviate most risk and as close to possible guarantee a successful purchase
Out of these 3 options only option 1 is 100% viable, 2 asks a lot from the organizer as he/she may end up in a situation where he carries a loss or has to refund share holders and 3 runs the risk of making the group buy unattractive to buyers.
I wish you good luck and hope you can find a viable solution. If you would like any help in structuring the group buy I am happy to help. And please don't take this as criticism or FUD, just feedback.
I have considered this type of group buy before, but always failed in that point.
IMHO there are 3 possible ways to set up a group buy aimed at procuring an auction miner:
- Make a fixed price deal with owner outside of auction.
- Group buy operator carries risk.
- set up the group buy as a Share/GH buy, where the margin is high enough for the group buy organizer to alleviate most risk and as close to possible guarantee a successful purchase
Out of these 3 options only option 1 is 100% viable, 2 asks a lot from the organizer as he/she may end up in a situation where he carries a loss or has to refund share holders and 3 runs the risk of making the group buy unattractive to buyers.
I wish you good luck and hope you can find a viable solution. If you would like any help in structuring the group buy I am happy to help. And please don't take this as criticism or FUD, just feedback.
Let me try to clarify my approach:
Let´s say we have 7 Members with 20 BTC share each.
You become a member of this group by transferring your share to the escrow.
We internally agree on a maximum bid, lets say 110 BTC.
If we succeed, the very first payment will be the 30BTC remaining capital.
If we don´t we will get our shares back(-escrow fee)
I don´t see the need to agree on our max-bid publicly. I understand that you would like to know the max-bid in advance.
In this point I trust that the other member´s will have some common sense / math-skill.
Maybe a rule on how to find agreements in the group would help increase the trust.
How to vote on decisions?
A 51% majority of shares needed?
Other decisions will be necessary in the future. Like should we sell the rig and so on...
I totally understand, and I hope it works out. I think you will find that these types of trust-based group buys or group buys with non 100% pre-set parameters usually have a low chance of success. That said, I wish you the best.
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