Bitcoin Forum

I have a BFL order (#2080) coming. Currently it is a Jalapeno, but I have been told I can upgraded to a Single. So with that I'm going to sell 8 shares worth 5% of the device and revenues from it's mining. A total of 20 shares will be effectively created, with me holding 12 of them.

I will host, and pay all electricity. The uptime will be as close as possible to 24/7 as I can physically manage. I will then pay out the revenue shares once a week to the owners of the shares.

I reserve the right to cancel this auction at any time.

If I sell the device, all the shareholders will be notified before the event and will be given a chance to purchase the device themself (with 48 hours). Anyway in the event of a sale all the shareholders will receive 5% of the sale price for each share they hold.

The bidding for each share starts at BTC2. Please bid in increments of BTC0.1.

You can buy out a share without bidding for BTC7.5.

The auction will run until May 1st or until all shares are sold for BTC7.5.

Phil

If you are able to sell 40% of a Single you don't even own yet for $6.300 (7.5BTC*8*$105) I would be amazed. That would be aprox. x12 of your purchase price ($1,299*40%=$519,6).

Anyhow the auction will be interesting, let's see if the community thinks that this units will be shipped anytime soon (but I recommend you upgrading your order immediately and prove it)

I am interested in bidding but a bit concerned about how you will hold up your end of the deal.  Do you have a WoT account?  Will we be able to monitor the hashrate?

I will put the single mining on eligius and provide a unique address for it, so people will be able to see what it is mining.

As for trust, I can provide some ID for people if they require it.

Phil

Here is an image of the order.

http://postimg.org/image/h9dzu43r3/

Phil

http://s11.postimg.org/s8z75pu6b/order.png

sorry here this works.

Phil

Please post proof that you indeed ordered a Single.

I'm trying to arranging for hosting to be done by inada so there will be not delay due to shipping either.

Yes 7.5 is high but as I've seen some sold for more it could be a good deal. And I personally think that you will get at least 50% return within the first month. It is a cheap and quick way to get in.

Phil

Finally got this reply so upgrading now


Phil

to clarify is this a binding auction on your part come may 1st? or is your plan to only sell shares if it reaches 7. 5 btc?

It will be binding. I will accept any bids below the BTC7.5 on the date. That is just what I think is max silly price but if people want in at that price fine. Honestly I think a price around 4-4.5 is about right. Just giving everyone the options.




Phil

Thanks Phil. I need to sort out a few outstanding investments first, but will likely bid.

cheers

TJ

Here is the paypal page of the invoice

http://s17.postimg.org/pqs2k2xv3/bfl.png

and of my paypal account saying it is paid

http://s22.postimg.org/z3f1t407l/paypal.png

I hope that helps a few people.

Phil

I had a bid for all 8 shares at 2BTC, but it was via email.

Current Bids are:


Phil

What a joke, so you can pump up the price as you wish, right?

I can add the email, if you think bids should only be made on here, that is fine, I will take it down, and tell him to bid on here, but he said he was new.

Phil

Of course they should only be done here.  You could also require the bidders to have created their account only after a certain date too if you wanted to be even stricter, but it's too late since it's already started.

From now on, As suggested I will only take bids made here.

Phil

I say this tongue in cheek somewhat, but when did they say it would be delivered?

October 2012!

Can you clarify please - what can stop you from refusing paying dividends or even vanish now with bidders money?

Well bids are not final until may 1st. And after that I have arranged for the hosting to be done by josh at bfl. And will set it up hopefully so that people can see what is being mined.

Other than that you just have to trust me. I will give the winning bidders some personal information if it is not too demanding. And could probably friend them on FB so that they know who I am.

In the end if you don't trust me or anything don't bid.

Phil

I'd honestly love to bid, but it seems too pricey for something that has an insanely high chance of never being shipped and the company bankrupting. :(

Just to let people know, as I have not recieved the Single from BFL like everyone else, I'm going to cancel this auction.

Mods, can you please close this thread.

Thanks

Phil

Since there were no bids, that's probably for the best. As for closing the thread, doesn't it let you lock it yourself?