Topic: [SOLD OUT] Ninja Group Buy #4 - 30 Hosted ANTs + 7 - 290X [0/300] .3btc (Read 17812 times)

I see, I've been only watching threads of the group buys...

These problems were indeed mentioned on post #76 and #79 of the share information thread: https://bitcointalk.org/index.php?topic=491659.60
However, it was not quite clear what caused that in the first place.

Did we missed this info, or is this the first we are hearing this???

Thanks for your answer. I lacked this information, it does seem more fair now.
Good luck on your next projects.

 

Fine print was y'all was supposed to all pay hosting fees if the BTC earnings didn't cover it.  Very very few did, so it put us in a bad predicament. Plus the DC fucked us over, turned everything off, fired my partner.  Then held all the gear hostage, we spent $3k with a lawyer to get it out.  At that point we had a BTC offer for all the ASIC gear from a private investor, and nowhere to power it so we liquidated it out and bought back the shares.  Per the contract, the failure to pay hosting should have resulted in a forfeiture, but we did better than that and bought out at market value of the ANTs for QTY on hand. 

Investor didn't want the VGA cards so they are just sitting here.  Had I not paid for the lawyer there would have been 0 returned.  We aren't done with the legal predicament here, so I think its plenty fair that the sale of that hardware help cover our operating losses first. But theres really no market for VGA right now so I just have a big credit card bill.

Yeah it sucks when things don't work out and the market goes the wrong way; I totally put my heart into this effort and more work than you could ever imagine and now have 1/4 the number of bitcoin I started with. 

We are letting those that redeemed for hardware (meeting their obligations) from this group buy participate in the bonus group buy. We'll also consider letting those that took the buyback participate (on a limited case-by-case basis) if they return the buyback btc.

https://bitcointalksearch.org/topic/bonus-ninja-group-buy-ninjacolocom-mining-cloud-beta-test-30gh-contract-624701

Ditto, PETA seems to be the only one being done on a truly professional basis. PETA 40% gain so far for me, MWNinja 50% loss/theft! KNCMiner failed to deliver 1 month late, DZ Miners coop (Black Arrow group buy) failed to deliver 3 months late.

Yeah, I am pretty much done with group buys, I lost on every one of them i did, serval by questionable actions by the group organizer. The only thing I have made money off of is PETA....

Didn't the hardware belong to the shareholders? Everyone involved here has had losses, it seems unfair that you are the one that gets the most recoup. Unless there's some fine prints in the OP that I missed.

I've not seen any justification for the figure. The whole GB process has been shown to have used questionable (nicest interpretation) judgement, and dodgy (again kindest description) ethics. Until I see the whole story on this AND the math, MWNinja goes on negative trust.

Everyone here has had their shares bought back.  We have no further obligation to the group, the sale of the hardware is for us to recoup some of the losses we incurred running this group.

Could you please answer this?

The buyout price seems pretty low seeing that we paid .3btc for each share.  Just a touch over 10% from our initial investment(not to mention the value of a bitcoin was somewhere around $700 at the time of purchase if iirc).  Just curious how you came up with this amount/why you think it is fair?

Is the income of the hardware sell divided amongst the "shareholder" ?

The majority of buyouts went out in this transaction d32a5df08a44751d57231999b352ecfcabf6d1a40ccb2e178866a153223b837f

please send the buy back for my 2 shares to 1BZo9yFt74co9fTYbhiepgCHBtU3ie69Xn   

I am sorry that this group buy has to shutdown

Do I need to acknowledge to receive my .035?

Yes, we have 7 290x's available.  We will sell them @ .75BTC each to members (plus shipping). You can apply your shares toward this as well if you are interested.

Group 5 will continue, a small power fee (NOT the $14.99/mo) will be added to cover the electricity for those that no longer have shares.  We expect #5 to remain profitable for several months still.

There's this info on GB5's page, I guess that this will apply: