Bitcoin Forum

It looks like there's not too many people in SoCal who want to jump in on this (or they have big bucks and already bought their own units).  Since CoinHoarder put his Group Buy on hold I'll open this up to anybody worldwide.  I already placed my order for Batch #3 and thought it would sell out by now but looks like the price seems like a barrier to entry for most people.

The building I have been mining in the last 2 years is my wife's office and she's been very accommodating of my GPU farm, so having 3 or 4 Avalon units shouldn't be an a problem.  I may even buy a portable AC unit just for them if Bitsyncom thinks its a good idea.  The building is very secure with cameras and is located in front of a hospital so it even has security guards patrolling at night.

- A "small" administrative fee of 4% would be paid to maintaining an emergency fund for repairs or maintenance of the unit.  Electricity is included in my wife's office lease so for now consider it free for now.  Mining will be done on a pool (most likely OzCoin or BTCGuid).
- Dividends would be paid weekly until the group has majority agreement of when to decrease frequency.
- Shipping costs will be taken from the first dividend payment
- The mining pool will be decided by the group.  If a consensus cannot be reached I'll mine the pool I deem most stable and profitable.
- Dividends will be paid on a proportional basis.  If you contribute 1 BTC, for example, and the unit costs 75BTC, your dividends would be 1/75th of the gross interval revenue (BTC earned minus pool fees and 4% admin fee).
- The unit will be kept mining until it breaks, we all agree to sell it, or the sun explodes - whichever comes first.
- Anybody is welcome to come over and check out the unit.
- If enough funds are not collected to purchase a unit in its entirety the funds will be returned to the sender.
- Minimum investment is 2 BTC.
- I will provide my personal info as well as my wife's info for people in the group.  My wife and I are both incorporated professionals and have state licenses in medicine and orthodontics.  If we go on the run, we're probably leaving the country  :P

Only invest what you're willing to risk.  While it's a pretty good bet that Avalon will deliver in a few months, there is no guarantee that the unit will see a full ROI before it breaks or something happens to Bitcoin.  That being said, think about this - if the difficulty stays low enough for ROI under 6 months, some company will most definitely put out more units - be it Avalon, BFL, ASICMiner, Helve....  If you don't mine with ASIC now you may as well give up and just focus on the commerce portion or trading aspect.

If you're interested PM me with your BTC address and the amount you are sending.  Send payments to 173eWSr3vMzhZkh75Pg5SZ2MxXxJnkPyig

For reference see my Heatware http://www.heatware.com/eval.php?id=955
I have been trading online since medschool (2000).  You'll notice all the AMD voucher games I recently sold after getting my last hurrah batch of 7950s  :P

If you want to invest but want to remain anonymous then just let me know and I'll record you as anonymous - you can reference yourself by the investor #

I updated the details and opened it to worldwide, not just Southern California.


Investor #   User Name     Amount Invested    BTC Address
       1            qwk               25.0                    
       2            jongaper         3.0
       3            elduce           25.0
       4            peewee          6.0
       5            mbor2k           5.0
       6            anonymous     10.0

Total 73.0 BTC received at 173eWSr3vMzhZkh75Pg5SZ2MxXxJnkPyig


Pledged to invest should units become available (20-30 BTC)
sloper       10 or 20 BTC
zif33rs       5 BTC
btc2cards  3 BTC
monstrs     2 BTC

25 BTC sent:
http://blockexplorer.com/tx/9b77d9e8deb2500090e6d825d5de1f070129cf3804bf1e736f4aca525fff4361#o1 (http://blockexplorer.com/tx/9b77d9e8deb2500090e6d825d5de1f070129cf3804bf1e736f4aca525fff4361#o1)

CoinHoarder closed his group buy again... you're killing me Larry.

If there is enough interest to buy at least 1 unit I will start a group buy.  Post how much you're willing to commit.  So far I have 25 BTC from qwk

Opened back up again.  25 BTC collected thus far towards first unit.

2.0 BTC received from jongaper, total 27BTC now

This is tough but I just checked. Looks like Avalon batch 3 are out of stock now.

sent you a pm Doc...might still be able to get one.

Received 25BTC from elduce.

The units were going in/out of stock as people place orders and then fail to pay.  Total now is 52 BTC.  Need about 25 more to make this happen.

Out of stock. are you sure

sent you my 6 btc i had on hand

An extra layer of trust?

So what kind of proof are you going to be giving about real performance and fair division of profit?

This is something I was wondering how CoinHoarder was going to handle. I was thinking of making a dedicated account on a pool or pools and lock in the payment address.  Then we could distribute the login to everybody in the buy-in.  That way you could always check on the status and yell at me "hey dumbass, the miner locked up - restart it"  :P

As far as fair division - I used to invest a little with DeadTerra and he used to keep an Excel file.  If you have a fixed percentage column and a running dividend (every week or month) it would be easy to have Excel just calculate that.  Only payments would have to be done by hand, and if the group wants to they can assign somebody else to do that if I get too busy.

As far as insurance my wife's office is insured for over $250k, should be able to stick a miner in there.  CoinHoarder will probably have to reassess his policy with those 7 units as that's almost 50k of hardware.

In the even of my untimely demise everybody can harass my wife (since she knows about my bitcoin madness).  It's pretty easy to find my Trust if you look through all my old posts.

Sadly all these considerations may be of no use as it is in fact out of stock - I'll keep checking every 10 minutes though.

Peewee you have a blockchain link for that transaction?  Not showing up in on my end yet.... nevermind, took a while to finds its way.

As I discussed with some of the members I will go ahead an buy the unit if it comes in stock using some of my own funds.  I already have too much exposure with BFL orders also so I didn't want to spend any more.  Plus I think it would be better if I kept out of the group buy to limit conflict of interest.

OK been hitting F5 way too much.  It's 4AM here...Gotta get some sleep or I'll kill my patients  :o

I keep checking to see if the unit comes in stock. If not I'll send the refund later this evening.

Quick question: I see in your sig that you will be going on a medical mission in June 2013. For how long and who will deal with any issues with the rig/handle payouts?

You'd have to support proof about the moment you got it too.

If everything is properly documented I might put a few coins, but I need proof of your id, etc.

Cheerio.

This year I think I'll just do the Harbor LA 5 day event at the Forum so I won't be traveling.  It's harder to leave home than I planned with 3 kids.

For those asking for prood and ID, I am PMing theymos (he's the admin for bitcointalk in case you're new).  Once I purchase the unit I'll provide all my info to the investors.  I do not feel comfortable providing my photo ID to a new user with 1 post.  If you do not feel comfortable sending me the BTC then please do not do so.

No units seem to have come back into stock.  We have a total of 63 BTC accrued.  I'll wait for an announcement from Avalon or if you guys wants I can just send the refunds tonight.  DO NOT SEND ANY FURTHER COINS.  Just PM me if you want to want to be considered for the queue.  If the unit does come into stock, I will buy it and then ask for payment.  We have enough commitment to get 1 units, we're now looking at about 10 BTC into unit 2

DrG sent me some contact info, but I have not verified it at all.

Avalons are sold out! Definitely

Most of you are telling me to wait a couple of days to see what happens.  I'll refund everybody on 3/29 then since I'll assume they won't get anymore in stock.  Anybody who wants their investment returned now just message me.  Otherwise I'll just keep checking the site every 10 min like I've been doing. 

I was looking at horserider's resell option and this may be a viable option for the group-buy https://bitcointalk.org/index.php?topic=158295.0

Obviously it may not be ideal as having the unit in our hands immediately but if it is received in China well before other destinations the 10% fee and electricity cut may be negated by the increased earnings early on.  It would only make sense to buy a 4 module unit so you could get the whole rig, and then have it shipped when difficulty is high enough that 2 weeks of shipping downtime outweights income lost due to fees and higher electricity rates.

We have 73 BTC in the pool and 20-30 in the "pledged" category.  If sloper pays 20 and we can get 7 more BTC then we will have the 110 BTC to buy a 4 module unit from horserider.  Post in here if you think that's a viable option should Avalon not come back in stock.

Obviously then my role would then be made obsolete.  Horserider could then ship to one of the investors who has cheap/free power.

Just something to consider...

I have 1.43 BTC. Let me chip in if you guys buy from horse even tho i dont have 2 btc?  ;D
Wanna get in on some action :P

I have 1 order that I am willing to sell. Its a 4 module version with PSU.
Please let me know. I am willing to provide proof of purchase and any thing else thats needed.

I'm willing to put up half the investment (and host) an Avalon Batch 2 or 3.

PM me if there is any interest.

If sprilow's doesn't pan out I'd be interested in kicking over mine investment to a horserider purchase.   I think I'd still be comfortable with the good Doc holding on to it physically when the time comes...I like the surety of he who has the most to lose and is the most transparent holding on to it.   

Well I've been checking and nothing showing up as In Stock.

Bitpay was a much, much, much, much better payment processor than Walletbit.  I doubt that there will be any orders that go unpaid.

So at this point the investors of this group buy should consider horserider's option.

I don't see any other ASIC options for the next couple of months.

Splirow sent me a PM asking the group to make an offer for his extra 4 module unit.  I told him I can't speak for the investors, so you guys will have to chime in if you want to buy it from him (which would require reshipping I assume unless Yifu is amenable to changing the shipping address).

Horseriders offer looks like it will sell out soon so I need the investors to please post here what you would like to do.  Please see post 2 and note 73 BTC are sitting with me.  104 BTC roughly needed to buy the 4 module unit (I'm assuming Splirow's has a PSU). So the pledge people would have come through to hit 104 BTC.


I could throw in a few BTC to make it happen but would like to stay out of it to avoid conflict of interest.

Actually, i'm already invested partially with HorseRider, so i'd rather not go this way. If you need my BTC to make the deal happen now, it's okay for me if you just refund me later. I don't want to spoil the party  :D

I'm in for the difference if in fact the price is 104

Yeah I have more than enough coins to pay for any offer short of 1000 BTC, but effectively if the group wants to go with horserider's offer we would be down your 25BTC making that difficult.

So we're looking at going with Splirow's offer then.  What does the group feel comfortable paying.  The lowest offer above 104 BTC + shipping would be what we offer him.

Hi,

I just posted this:

https://bitcointalk.org/index.php?topic=159968.0

I am not looking to be greedy, but I do understand my position and willing to review any offers. I can sell the complete order or 50% ownership with me hosting it for 4% Free electricity.

Let me know.

We really need a facepalm emoticon.  Apparently the word commitment is lost on some of our newer members.  Normally I don't call people out but on a board where I have spent more time in the last 3 years than any other board I'm not going to hold back making judgements.

- Splirow's rig is the only viable option since qwk had already invested with horserider (that is fair since horserider wasn't in the original group buy option)
- Elduce has requested his 25 BTC be refunded as he had chosen to go another route.  While Splirow's rig is not a direct Avalon order, I feel he is betraying the group trust.
- sloper has decided to invest with another option so he violated the spirit of his pledge of 10-20BTC.

With this the funds to buy even 1/2 a rig are sparse.  I will be issuing full refunds to all 6 investors.

Please consider Splirow's offer above as it is essentially the same as mine with partial ownership at 4% (I don't know what the premium over Avalon's price is).

qwk 25 BTC
Date: 3/28/2013 00:18
To: 1AKiCLJ8td2MSR4rPEkhgGvhfQL1YKYVGp
Debit: -25.00 BTC
Transaction fee: -0.005 BTC
Net amount: -25.005 BTC
Transaction ID: 9572b89bc3cba2d7adb4e03eb8bd798d932afac0f148f5d1f2c44ddbdb9d2874

jongaper 3BTC
Date: 3/28/2013 11:19
To: 1LjCFG8y4VQC7CiJGAL9Fcy4UhhZrceYPy
Debit: -3.00 BTC
Transaction fee: -0.001 BTC
Net amount: -3.001 BTC
Transaction ID: eb2a38bf6e061a45043d655bda2e8961428d700ba68def9bf25f74a1fc04e824

elduce 25 BTC
Date: 3/28/2013 00:27
To: 1GhYHNGjctqJgVerBgGomyJNH4yNPN2L45
Debit: -25.00 BTC
Transaction fee: -0.001 BTC
Net amount: -25.001 BTC
Transaction ID: aec7d991709f3bee6e4261c506cb19b5d108441c89ed3199ab586fe3e9481b65

peewee 6 BTC
Date: 3/28/2013 01:54
To: 13FdjGU6P6q6ypqWVQ2fJpF93ikTKTH2yS
Debit: -6.00 BTC
Transaction fee: -0.001 BTC
Net amount: -6.001 BTC
Transaction ID: 8f0f084cce02e760a7385869f4297bc168f5db69a5dbfe9c2614e66b777068a4

mbor2k 5 BTC
Date: 3/28/2013 01:07
To: 183AG6DayBE4f5NtFV4qQRrEXdu5E8zsby
Debit: -5.00 BTC
Transaction fee: -0.002 BTC
Net amount: -5.002 BTC
Transaction ID: 06ee7f4bfc0026be361ff8ab21b819dc5a5c6004f6f44f34c1b655831af97a31

anonymous 10 BTC
Date: 3/28/2013 11:21
To: 1Gu4mRukrZ2Qj4T79zxb6G7KLgG7fHgApE
Debit: -10.00 BTC
Transaction fee: -0.001 BTC
Net amount: -10.001 BTC
Transaction ID: 50b9935a10167c77a0fb45253634975fe0ccc42d6e74bd56d27833683cce71ab

[my old rubbish deleted, did not really read your last posting]

Thank you, and sorry that it didn't work out  :'(