Topic: [**OPEN**]R2B:HashFast + Host, Dbl. HashRate Upgrade, $43, 10-13GH/s MPP - page 25. (Read 35751 times)

Roger that. Thanks for the update Philip.

No, this isn't ordered yet. They have about 300 units remaining as of this morning.

ROI is always a concern on pre-orders. I think 250M *might* be a tad high for the start of November. You're talking about the entire network growing 500% in just 2 months, when it took 4 years to get to this point. We're seeing exponential growth but we're not seeing *that* level of exponential growth quite yet. You're right though, this could be an entirely different story in late Oct. when a lot of machines have come online.

With all the hardware on order this incredible growth rate you predict is possible. Not likely, but possible. It *will* go up, we know it's going to be a lot, but no one knows how much. Not sure if you're aware, but HashFast is promising 2-4X your HashRate (in chips) if you fail to meet ROI within 3 months:

https://bitcointalksearch.org/topic/hashfast-miner-protection-program-discussion-272906

AFAIK, no other ASIC mfg. has offered this type of miner hash rate protection, which is why I'm targeting HashFast - besides their credentials and expertise - for this Group Buy.

Received another PM! Thank you! 27 shares remaining.

coinbase will send me coins on friday morning   I should send out my 1.55 btc by 11 am east coast time.. philipma1957

hmmm... I want to wait for Cointerra but this seems like a good deal right here!

Might have to get a couple of shares.

*puts on thinking cap*

Yup, I hear ya. Had to deal with the same delays transferring PP funds to checking. I used BTCQuick with 7.5% fees until my Coinbase account passed the 30 day mark. BTCQuick *is* quick but a bit pricey as far as fees.

Now, I can buy BTC instantly w/ a 1% fee at Coinbase. Just some suggestions if you're looking for ways to buy BTC without getting scammed.

Another PM received! Thank you! Your share is reserved for 48 hours.

28 shares available.

Thanks for the answer, and I get your point.
Bitcoins are a ""bit" expensive and hard to come by in my part of the jungle but I'll see what I can work out in the next few days..

Hi phillipma1957,

Thank you! And welcome aboard!

John K. has listed the Escrowed Group Buy Account wallet address above (he's probably going to be too busy to contact everyone individually):

1KWAtXU2tNEUGpB7ksi4fEumJeXqZDCfdA

Please send a signed message, if possible, (Send Money / Custom) from your Blockchain wallet so that John can keep track of your payment:

A good template for your custom signed message to John K. would be something like:

For DZ HF/CT Group Buy, x shares, x BTC
Your BTC Talk user name


There was some interest from a few other people. Did anyone else want to reserve?

29 shares now available.

I will take 1 share for 1.55btc  have John send me a pm

Thank you John!

Sending my 15% of the Group Buy funds & admin rights to my Havelock Investments for ASICMiner shares as collateral to you in a few minutes.
EDIT: AM shares were transferred directly to John K. as miner payout collateral for 2-3 months

I'll address concerns below:

- I'm leaning towards BitFunder for miner payouts but will go with BTCT if the majority of buyers prefer this
- Nothing is to stop someone from reserving a bunch of shares & being a jerk. They could only slow us down. If I see someone that is requesting 5 or more shares, I'm going to have to request payment to John within 24 hours, as a hedge against this type of behavior. If you're buying 4 shares or less, the usual 48 hours to pay for your shares apply.
- Dave: I thought about offering PP to provide value & ease of payment. I may do that with future GBs I may undertake if I'm handling funds directly, but since John K. is handling funds for this, I'm sorry I can't offer PP for this GB. It would require something like 4-5 business days for me to convert it from PP to BTC at this time.

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

Please note that I have yet to receive the collateral in shares as stated here. I will confirm the receipt in a separate post when done.

The escrow address for DyslexicZombei's group buy is:

1KWAtXU2tNEUGpB7ksi4fEumJeXqZDCfdA

Please state and agree to the conditions (if item is received damaged, item lost with tracking, customs fee etc) beforehand.

If possible, GPG sign your agreement to prevent any discrepancies later on and please ship with tracking to prevent problems during delivery.
GPG signing is not a requirement, and any verbal exchange in the form of private messages or posts on bitcointalk.org, or email is effective as a statement of condition.

Do note that I am only responsible for the funds up to the point it is sent to HashFast/CoinTerra.
Any losses incurred by HashFast/CoinTerra's or DyslexicZombei's failure to ship/pay out dividends will not be borne by me, but I will liquidate the shares held by me (currently worth about 5BTC) to pay the shareholders back partially if DyslexicZombei fails to pay out the dividends. Please note that I do not hold any form of ID of DyslexicZombei here, nor any personal contact information.


The fine print:
This Contract is solely generated for the purpose of facilitating the transaction between the seller and the buyer, which refers to the pseudonyms used on bitcointalk.org.
The escrow holder, John, assumes and gives no liability or guarantees on the satisfaction of all parties involved, although he agrees to mediate and facilitate the deal to the fullest extent he is capable of.  On the event that any problems arises, he will release the escrow to whichever party that presents him with the most convincing proof and/or after an open discussion with others or theymos. 
The verbal acceptance by both parties (or the failure to reject) and the sending of Bitcoins to the escrow address above constitutes the acceptance of the terms and conditions stated, and the activation of this Contract.

Please understand that I am assuming the risk of holding the escrowed Bitcoins, and I am using my own time to facilitate this transaction.   
I am imposing a fixed and nonrefundable fee of 2.2% for this transaction, to be deducted when the funds are moved or otherwise. If the group buy fails due to the lack of interest, 1.1% of the fee will be released back to DyslexicZombei.

Thank you.

John (the escrow holder)
16 August 2013

-----BEGIN PGP SIGNATURE-----
Version: GnuPG v1.4.11 (MingW32)

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Sounds good!!
Any problems accepting PP or WU as you have to buy this equipment in cash?
I would be happy to pay the extra fees just let me know.

So how long before JohnK starts collecting?

What's stopping somebody from reserving all shares just to fuck around?

looking good, any thought of bringing all those shares to bitfunder/btct once everything is done?

Hi Hektek,

Thank you! Welcome aboard! 30 shares left!

Yes, we're aiming for a Baby Jet. If there's a serious delay, we'll ask for a refund and aim for Cointerra who should be shipping in Nov/Dec. Ideally, we need to start mining in November, no matter who supplies the High End miner. KnC/Bitfury - at much lower prices - are options.

So order of preference is:

1. HashFast
2. CoinTerra
3. KnC/Bitfury

If HashFast delays too long, we'll seek a refund through John, and open up the purchase options for weighted voting, with me voting last and holding any swing vote. I do reserve the right to ask John K. to do a quick order if something unusual occurred like a 24 hr. 33% off sale on in-stock items somewhere, somehow (one can only dream) when it's time to order.

i want to reserve one share, you are going to get an HashFast Baby Jet Miner ?


best regards

Thank you and welcome! 31 shares out of 40 left!

Great point about the exchange rate! Thanks for pointing that out. I truly believe that us miners are all in this together which is why I'm offering this. I'm basing this on 1 BTC being valued at $100 USD (Blockchain price at time of confirmation from John K. that all funds are confirmed received and we're ready to order). If there's a +20% variance where BTC is worth 20% more and accomplishes the same buying power of about $6,060 [60.6BTC @ $100 ea.], I will refund you 20% (or more) if the Blockchain BTC value at the time of ordering is $120 USD (or more) per BTC. I truly meant what I said about not trying to profit directly from other people's share in a High End ASIC miner.

If the value of BTC is somehow 20% less, or $80 USD Coinbase price, then we'll need to revisit the Group Buy details. Either additional fees will need to be ponied up by everyone, or the GB will be abandoned and all share purchases refunded by John K.

Anything in between that: I'll pay out of pocket if we're a little short to get this started or I'll hold a small war chest to be used to get better hosting deals by signing a 6 or 7 month contract vs. the 1 month hosting fee.

- Another thing I should have mentioned earlier: I was also planning on mining on Elgius for 0% mining fees so our shares are larger.
- I'm open to suggestions about how to openly share the XLS sheet keeping track of everyone's shares. Is Dropbox ok?

looks good.

I'd like to reserve 2 shares.

But please comment on one thing firsT: what happens if the BTC/USD rate change significantly
by the time you have to order the device? As far as I understand, they are priced in USD.

First reservation! Thank you!

33 shares now available.

Heading to dinner, I'll BBL & remember: I'm not handling any pre-order BTC funds directly; they will be held in escrow by John K. when he gets caught up and he will be contacting you directly via PM for the GB funds wallet address set up for this transaction. (Thanks John, you rock!)

That's all the relevant details. I'm still deciding on the colocation facility but I've found pricing and locations I'm comfortable with.

One more detail: We all vote on what gets ordered but I also reserve the right to switch miner purchase to a different mfg. if a dark horse (KnC/BF?) offers an even better deal with in-stock guarantees. If we need to move quickly (due to very limited quantities for example as a result of some sort of unknown mfg. promotion) and don't have time for democracy, I'll make the decision that I think is best for the group and ask John to order the miner for us.

John K. will be handling any refund requests directly, auditing miner payouts, as well as holding my AM shares as collateral for 2-3 months worth of miner payouts. Please PM if you have any questions.

If not, better hurry, because at these prices, who knows how long these shares will last?  

Exact email from John K. from Round 1 GB (CLOSED):

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Hey,

I've read a lot of proposals for group buys at this point, and I must say that yours came across as one of the best written and thought out.  

Everything seems right on track, and I guess I could hold the shares in escrow for the mining payouts, for say 2-3 months until most buyers are comfortable enough for them to be returned to you here.     Just get a thread up, and I'll post the contracts etc as always.

Cheers,
John

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

I'm the new guy here but I've been buying and selling electronics on the 'net for a long time, including reselling giant CRTs and pre-order Wiis. I recently resold 3 Jalapenos on Ebay via my wife's acct:

http://myworld.ebay.com/rainbowlady03

- With me acting as my wife's co-seller for IT related items we have a 160 perfect feedback rating as a Buyer/Seller on ebay built up over 10 years.

- I'm a former Sr. Electronics Technician & a current IT Network Engineer. I've allowed John to vet my ID in preparation for this GB. Organizing something like this is a piece of cake compared to designing prototype IT Hardware for the DoD at low TRL numbers. I've sent my LinkedIn profile link to John as part of my verification process. Here's some stories & pics of me working as a Sr. Tech at a National Lab for a premier rocket test facility (yes, I used to launch rockets for a living):

http://forum.surfermag.com/forum/showflat.php?Cat=0&Number=1373159
http://forum.surfermag.com/forum/showthreaded.php?Number=1373957&page=0

- I can msg. you the same msg. from my Reddit account (same name), BTC Talk account, ebay account and/or even this Surfermag account (username: KauaiDKer) to prove that I can access all 4 accounts. Send me a PM here if you do, as I'm not constantly checking Reddit, ebay, or Surfermag for PMs.

8/15/13 update: I've already paid John K. up front for his escrow services and have already deposited 15% of the Group Buy funds into his escrow wallet set up for this transaction. He will be handling all funds, shipping details, and overseeing miner payouts. Since I'm giving John K. control of the purchase funds and my AM shares as collateral for miner payouts, this combined with HashFast's Miner Protection Program make this the most secure pre-order anywhere. 8/15/13 UPDATE: MY 15% GB PAYMENT & ASICminer SHARES SENT TO JOHN K. Confirmed.

I can offer the lowest rates because I intend to make little or no profit on other people's shares and I'm bankrolling part of the purchase which means I'm sharing the same risk as you.

Please use this thread to reserve your share(s). 34 shares are available at 1.55BTC for 10GH/s, the very lowest Group Buy or pre-order price you will find ANYWHERE. Just list the amount below you would like reserved - or PM me if you want to stay anonymous. Payment details below.

===============================================================
HOW TO PURCHASE GROUP SHARES - 8/15/13 update  UPDATE 9/15: Details below for Round 1 GB via John K. Escrow. Please see post above for payment details.

1. Send me a PM or post here how many shares you would like reserved at the rate of 1.55BTC for 10GH/s. They will be reserved for 24 hours for 5 shares or more, or 48 hours for 4 or less.

2. PM John K. so he will know to expect your payment.
https://bitcointalksearch.org/user/john-john-k-31288
Subject: DZ HF/CT GB, x shares

2. John K. will NOT be sending you a PM (sorry for the confusion, he's a busy man). John K. has listed the Escrowed Group Buy Account wallet address below):

1KWAtXU2tNEUGpB7ksi4fEumJeXqZDCfdA

Please send payments to John K.'s escrow wallet address shown above. Please send a signed message, if possible, (Send Money / Custom) from your Blockchain wallet so that John can keep track of your payment: [/s]

A good template for your custom signed message to me would be something like:

For DZ HF/CT Group Buy, x shares, x BTC
Your BTC Talk user name

===============================================================

Excerpt from my proposal letter to John K. (before Round 1 GB):

"Competition is good! I also don't intend to make much $ from other people's shares, I'm more concerned about trying to make ROI from my shares of the miner. Since I'm covering 15-30% of the costs up front, it allows me to offer a lower rate then if I had no stake invested. I've come to the conclusion that this is probably the future of mining. I think this is the bare min. I can offer ATM w/out having to pay for other people's shares. I also offer a realistic resale plan to recoup investment costs as an escape route, after most of the projected annual ROI has been returned after 6-7 months while it should still have high resale value, but well before it becomes a paperweight after 13 months or so.

Proposition: You hold in escrow the funds and ordering details for a Group Buy Purchase for one (1) HashFast or CoinTerra ASIC miner (majority decision, I vote last, cast any deciding vote) to be advertised on this site. You chime in on the proposed thread that you're holding 9.3 of my BTC to begin & AM shares worth approx. another ~5 BTC as collateral throughout. When sufficient Group Buy shares are made you purchase the ASIC miner for us to be sent to a reliable hosting facility such as DreamHost, whom I've already contacted for details on hosting fees.

Collateral/Escrow: You immediately hold 9.3BTC meant for the Group Buy - and admin rights for my 1 AM1 share & 14 AM100 shares with associated dividends worth approx. $500 at Havelock Investments as collateral until the miner is ordered to be delivered to a trusted 3rd party hosting location OR until all miner payouts are paid out - before the GB even begins. I'm also willing to share or give admin rights to the HF or CT miner account to you or a trusted designate, and have my AM shares in escrow while miner deposits are made over 6-7 months.

Details: My current share of 9.3 BTC represents 60GH/s or 15% of Purchase Price/Hash Rate of the projected device. If CoinTerra offers a better deal in the same timeframe, the 15/85% split will still remain in effect but at a (hopefully) higher GH/s rate for everyone (Owners vote). I'm selling 34 shares worth 10GH/s each @ 1.55 BTC each with 2.75% Hosting fees.

This represents 85% of the device's Hash Rate. This is the best pre-order deal anywhere online, bar none. I call it the Noob bonus. I reserve the right to pull the Group Buy if there's not enough interest, fully refunding everyone who bought shares through your escrow service. I also reserve the right to purchase an additional 6 shares @ 1.55BTC ea. to quickly finish off the Group Buy, if necessary.

Deposit payout: Miner ships domestically to Hosting facility October 20-30. Payout every 2 weeks - 2.75% Hosting fees for 6-7 months (Group Decides how long, majority weighted vote rules)

Equipment sale: TGB projections show that this will be a paperweight in a year. If conditions warrant: I intend to sell this at the 6-7 month mark when more than 90% of annual ROI is already achieved and disburse the proceeds to GB owners before it becomes useless as far as Hash Rate. Owners vote to decide on exact month. I have a good track record for getting good returns on used electronics before they lose too much value. We can replace it with a more powerful Group Purchased ASIC unit if there's interest.

Fees: Since it's complicated, I will pay all expected escrow fees of 2.2% up front to get this started. The total sale should be about 60.6BTC raised. If the Group Buy fails due to lack of interest (2-3 wks?), you keep half of the paid fee and return to me half of the agreed upon fee.

Risk: I could be a dick about mining payouts. Not sure how to handle that. Would you escrow payouts for that somehow for a fee? Perhaps hold my AM shares as collateral for that, like I mentioned?  I'd be willing to let you hold the AM shares as collateral for 6-7 months to make sure people get paid or at least partially reimbursed. Otherwise they'll have to trust me from previous behavior. That & I strongly believe in Karma so I would NEVER hurt GB owners. We can negotiate a fee for miner payouts later, if you're interested."