Bitcoin Forum

Hi everyone!

I am here representing Cycloid, a member in my Batch 3 Avalon group buy. He would like to auction off his share of our investment, which totals to 63.1265 BTC.

Group buy information:
Original Thread: https://bitcointalk.org/index.php?topic=157930.0
Our Forums: http://yourcoins.org/forums/index.php?forums/avalon-group-buy.2/
Each investor owns a percentage of each of the seven 4 Module ASICs that were ordered.
Monthly dividends will be pad out to each investor according to their ownership percentage.
Dividends will be paid after electricity costs, any pool fee (yet to be determined), and my 3% hosting fee are taken out.
Total BTC invested in the group buy: 722.7025 BTC
595 Gh total from all Seven Avalons

Cycloid's Ownership Information:
Cycloid's ownership: 63.1265 BTC
Cycloid's ownership percentage: ~ 8.73478368%
Cycloid's portion of hash speed: ~ 51.971 Gh

The auction will last 3 days from the time of this OP (7:43 CST, 4/29/2013).

The starting bid is 100 BTC.

Cycloid should be posting with a reply shortly to confirm that he does indeed wish to sell his shares.

Thanks,

Ch

Yep lets do dis :)

I personally guarantee that it will go to highest bidder at the end of the auction. NO PM's everything will be done official and in the open.

Cheers

Just to make it interesting I can sell it in portions of
10GHash X 20BTC starting bids , this means you can bid

20GH @ 21BTC and so on as long as starting point is with in lowest bid of 100GH for full share.

Cycloid, why are you selling out now?

Have you lost confidence Avalon will deliver?

Not at all, I just bought BFL 1.5TH September 15th preorder and with that kind of hashing power I dont mind waiting another 6months a year :)

Just trying to take some profits in BTC and hold while I wait.

Just to make it interesting I can sell it in portions of
10GHash X 20BTC starting bids , this means you can bid

20GH @ 21BTC and so on as long as starting point is with in lowest bid of 100GH for full share


-Cycloid, please recheck these numbers.  This doesnt make sense to me at all.

How can we bid for portions of the ~51 GH/s?

This was a group buy, so I can sell of my entire position or shares.

So can I assume that the minimum bid is 100 BTC for the whole stake.

And also, the minimum bid is 1.924BTC per GH/s?

100BTC/51.971 Gh=1.924 BTC

^correct

Ok I am interested.  Lets get this thing started.

5 GH at 9.62 BTC

When were you projecting / guestimating receipt of the Batch 3 units, and start up of the mining process?

BTW - 10 GH @ 19.24

I will get them online as soon as I receive them from Avalon... I have the place and the power/cooling infrastructure ready to go as soon as they arrive.

Batch 3 was set to deliver on May 5th, but seeing as though Avalon has delayed Batch 2, I am guessing they will start shipping Batch 3 later in May. How late? That's anyone's guess, there's only so much you can do with incomplete information.

Current winning bids
josh4580     -    5 GH @ 9.62 BTC
drlatino999   -  10 GH @ 19.24 BTC

20 GH @ 38.48 BTC

I am not the auction police.  I am confused by these bids.  Are we talking about 5GH for 9.62BTC, or 5GH for 48.1BTC? 

Most auctions I have watched on this site is (Item Qty @ Price Each).  Meaning: Total = Item Qty * Price Each 

If I were to bid, I'd like to know the translation to total BTC, so that I am not misunderstood.

Is the OP willing to sell integer GH values, or multiples of 10GH values?

I apologize for confusion, but I am only recently graduated from newbie jail.

Lowest is 5Ghash .

Bidding increment of 0.5BTC please or this is going to be frustrating to watch lol

I agree, it can be confusing compared to most other auctions on this site.. I only copy and pasted the bids earlier in the format the bidders submitter. To avoid confusion, I will convert the auction to this format (Item Qty @ Price Each.)

Everyone please only bid in the following format: Gh wanted @ price per Gh
As Cycloid stated, each bid must be for a minimum of 5 Gh.

Current winning bids:
josh4580     -    5 GH @ 1.924 BTC
drlatino999   -  10 GH @ 1.924 BTC
skidelo         -   20 GH @ 1.924 BTC

CoinHoarder,

Please change my bid to 10 GH @ 1.924 BTC

To make things simple and rounded. In the event where no buyer steps forward and buys the entire position offered, the left over 1.971GHash will be donated to bitcointalk.org and they can choose to sell it or have a residual supplementary income for the forum.  ;)

Ok no PM's bid in here please. PMs will be ignored as per rules of the public auction  ;)

5 GH @ 1.925 BTC

Current winning bids:
josh4580     -   10 GH @ 1.924 BTC
drlatino999   -  10 GH @ 1.924 BTC
skidelo         -   20 GH @ 1.924 BTC
yolo             -    5 GH @ 1.925 BTC

where is this hosted?

Texas, USA (about .12 $/Kwh)

Need to get you a better provider, TXU is charging me $0.083 :D

Well, all my family is here and this is home, and unfortunately the city I live in has a monopoly on power, so I can't choose our provider and shop around.

The fee I am charging is too small for colocation to be considered. I have looked into it and it is very expensive for 5600watts of collocation.

Although, my electric rates are about average IMO. A lot of people pay more. :)

This auction is nearing its end so hurry :)

Who will payment be made to?

Payment will be made to me posted here

My wallet address is here :

12EujDPYAV4Kp2x72tEeYpRfAH5RoDAy4q

https://blockchain.info/address/12EujDPYAV4Kp2x72tEeYpRfAH5RoDAy4q

As you make the payment CoinHoarder will allocate your share on his pool.

This way there is 0 funny business :)

Most of my BTCitcoin is currently in investments.
How long will we have to send funds after auction ends?

5GH/s @ 2 coins

Upon the end of the auction you have to submit your payment with in an hour unless otherwise specified or agreed upon in advance.

2 GH @ 1.924 BTC

Just checking if nottm28's bid is valid... Thought it had to be minimum 1.924 BTC / GH?

bit complicated - but the way I read it is how many BTC are you willing to bid for 5GH - yes?

Auction ending in:
Timer removed. End time: 2013-05-02+19:43:00

Current winning bids:
josh4580     -    10 Gh @ 1.924 BTC
drlatino999   -   10 Gh @ 1.924 BTC
skidelo         -    20 Gh @ 1.924 BTC
yolo             -     5 Gh @ 1.925 BTC

5 Gh @ 2 BTC

I will not count your bid if you want to detract it since you didn't understand the bidding process.

Each bid should be in the following style: Gh wanted @ Price per 1 Gh

Sorry my bad

1 GH @ 2 BTC

Please retract previous bids

5 Gh is the minimum bid as per Cycloid. This bid will not count.

Sorry mate, you're welcome to bump it up to 5 Gh if you want tho.


Again, see above 5 Gh is the minimum amount of Gh people are allowed to bid on.

ok - if 10 BTC is min bid then I'm out - but if OP will accept 1 GH bids then

I increase my bid to 1GH @ 2.2 BTC

too bad :(

I will let Cycloid decide what he wants to do about this, but for now the minimum bid is for 5 Gh, sorry mate.  :-[

The last few bids are invalid due to not meeting the 5 Gh minimum bid requirement. The list above is still current.

10 GH @ 1.924

1 GH @ 3 BTC

Please accept 1 GH bids

It's not up to me, it's up to Cycloid. It is his auction, I am just doing it for him.

I'm  sure when he sees your request he will respond to you in this thread or via PM.

Thanks

ok thanks

Auction ending in:
Timer removed. End time: 2013-05-02+19:43:00

Current winning bids:
josh4580     -    10 Gh @ 1.924 BTC
drlatino999   -   10 Gh @ 1.924 BTC
skidelo         -    20 Gh @ 1.924 BTC
yolo             -      5 Gh @ 1.925 BTC
Ajay             -    6.971 GH @ 1.924 BTC

Total Gh being auctioned: ~ 51.971Gh

Ajay, your bid amount has been changed to 6.971 Gh because you currently hold the minimum winning bid AND you were the last one to submit a valid winning bid. Because you were last and there is only 51.971 Gh available, I subtracted 3.029 Gh from your bid. To bid a full 10 Gh amount, you would need to increase your bid per Gh.

Thanks,

Ch

5@ 1.95

^ didn't mean to quote myself, that is just an easy way to update the thread and I forgot to delete the qoutes.. I guess you guys get the point..  ;)

You can't edit in this sub forum.

1GH @ 3BTC accepted :)

Since I keep getting all these PM about 1GH bids ... FINE 1 GH Bids are now accepted at MIN 3BTC per GH. 

Smallest increment is 1BTC for Single GH bids and 0.5BTC for 5GH and above.

Happy bidding.

CoinHoarder, I am sorry for this I was trying to keep the work load to a minimum with 5GH min but ppl keep asking and offer are getting hard to refuse  :o

It's all good, I don't mind. You can choose to do this auction however you'd like as far as I'm concerned.

Auction ending in:
Timer removed. End time: 2013-05-02+19:43:00

Current winning bids:
josh4580     -      10 Gh @ 1.924 BTC
drlatino999   -      10 Gh @ 1.924 BTC
skidelo         -      20 Gh @ 1.924 BTC
yolo             -        5 Gh @ 1.925 BTC
Ajay             - 1.971 GH @ 1.924 BTC
Superduh     -        5 Gh @ 1.95

Total Gh being auctioned: ~ 51.971Gh

Bid in 1 Gh or >5Gh quantities
Minimum bid for 1 Gh is 3 BTC
Minimum bid for >5 Gh is 2.424 BTC

5 GH/s @ 2.0 BTC

Sorry, I had this thread sitting open in a tab for a while and didn't read the newest replies before posting. If the minimum bid increment is 0.5 BTC/GH/s, then you can ignore my bid. 2.424 BTC/GH/s is higher than I'm willing to go.

no posts for lots of hours - are we still on? 3 and a half hours to go...

Perhaps because a 0.5 BTC bid increment is too high? IMO an increment of 0.05 BTC is more reasonable and may have generated more interest.

I made high increments so its less work tallying it all up  8)

Also give more security early bidders!

Also just to clarify something.

If ANYONE wants to buy the WHOLE thing in one go, all you need to do is bid 1BTC higher then current offers combined :)

(anything over 5GH increments are 1BTC and if you are buying 5 that sux but 50 it isnt so bad  ;) )

Can we see a list of the current winning bidders please

Please retract my bid. I don't like the look of this auction

Well... I just got home from work and can't be around to babysit this thread all day, so my apologies. But, if you want to retract your bid I will let you. You never even posted it here in the thread, only through PM, so it wasn't necessarily binding anyways.

Auction ending in:
Timer removed. End time: 2013-05-02+19:43:00

Current winning bids:
josh4580     -      10 Gh @ 1.924 BTC
drlatino999   -      10 Gh @ 1.924 BTC
skidelo         -      20 Gh @ 1.924 BTC
yolo             -        5 Gh @ 1.925 BTC
Ajay             - 1.971 GH @ 1.924 BTC
Superduh     -        5 Gh @ 1.95

Total Gh being auctioned: ~ 51.971Gh

Bid in 1 Gh or >5Gh quantities
Minimum bid for 1 Gh is 3 BTC
Minimum bid for >5 Gh is 2.424 BTC

Stressful day?  ::)

You could say :)
Just got cold feet. This auction just started looking a bit wrong compared to others I have watched. Not posts fo 14 hours plus with just over 3 hours to go. Confusion over the bidding in the early thread etc. no offence but could have been better done

Good luck with it though

luck is not needed if you got BTC

I am not a pro auctioneer nor is CoinHoarder, he was just kind enough to help me sell my share.

 Also, an auction with endless stream of bids wasnt something I wanted to burden him with and its your right not to like it but it made more sense to me.

Cheers

Cycloid,
Please check your Inbox :-)

Thanks!

Cycloid,

No PM bids right?

My bid is public :-)

Just PM'd him about payment (assuming I win of course!)

Hah ok nvm

Just place your bids ITT please, otherwise I can't keep the current winners list up to date.

Cycloid has not forwarded any bids to me, the current winners list is still current as far as I'm concerned.

Auction ending in:
Timer removed. End time: 2013-05-02+19:43:00

Current winning bids:
josh4580     -      10 Gh @ 1.924 BTC
drlatino999   -      10 Gh @ 1.924 BTC
skidelo         -      20 Gh @ 1.924 BTC
yolo             -        5 Gh @ 1.925 BTC
Ajay             - 1.971 GH @ 1.924 BTC
Superduh     -        5 Gh @ 1.95

Total Gh being auctioned: ~ 51.971Gh

Bid in 1 Gh or >5Gh quantities
Minimum bid for 1 Gh is 3 BTC
Minimum bid for >5 Gh is 2.424 BTC

Less than one hour to go for any of you snipers..  ;)

Cycloid decided that a "sniped" bid will not extend the auction, so when the countdown has ran out, there is to be no more bidding.

Thanks!

I do not accept any PM bids :)



 No problem, I am ok with your payment arrangement .

Not sure I understand, there is a bid let's say of 20 Gh @ 1.924 BTC, but the note says minimum bid for >5 is 2.424 ?

Yes, you must raise the previous bid by at least .5 BTC to bid

Auction has ended, thanks for all who were interested.

I will compile a list of how much each of you need to send Cycloid here shortly.

Please report your payment here as you make it.

My wallet to send coins for public verification : 12EujDPYAV4Kp2x72tEeYpRfAH5RoDAy4q

https://blockchain.info/address/12EujDPYAV4Kp2x72tEeYpRfAH5RoDAy4q   

The auction has finished. Please send your payments to Cycloid's address: 12EujDPYAV4Kp2x72tEeYpRfAH5RoDAy4q

In case of disputes, please only send with an address that is under your control and you can sign with.

Winners
josh4580           10 Gh @ 1.924 BTC    = 19.24 BTC
drlatino999        10 Gh @ 1.924 BTC    =  19.24 BTC
skidelo              20 Gh @ 1.924 BTC     =  38.48 BTC
yolo                    5 Gh @ 1.925 BTC    =  9.625 BTC
Ajay             1.971 GH @ 1.924 BTC    =  3.792204 BTC
Superduh            5 Gh @ 1.95             =  9.75 BTC


Guess Cycloid beat me to it, but I have calculated what everyone needs to send in for your convenience.

Thanks  :)

Cycloid,

I dont have access to my desktop now

I can send you payment later tonight.

Sounds good please post here right after you do!

Sent - TX ID - d6ceab11eddc18f6ebdd925644153234619a8554df664ac20644b09f09ba9b95

Recieved payment for: drlatino999 10 Gh 19.24 BTC

I won't be home until later tonight either. But i'll send the agreed 2 BTC in earnest money as soon as I get home.

Sounds good. Post here once the payment is made for CoinHoarder to assign your share.

Cycloid,

BTC has been sent

The transaction is under way, for your information, the transaction ID is:
3c9ab92a9b538afd53b694a3e746359a4bdc30434920cd34b08a0e678a581e03

What information do I need to give CoinHoarder now?

I will get in touch with all the winners soon after Cycloid receives your payment.

That's gonna have to wait until tomorrow though.. it is getting late here.

Thanks!

eh.. still awake.

SEE ABOVE FOR PAYMENT INFO. THIS INFORMATION IS ASSUMING YOU'VE ALREADY PAID.

This is just a bunch of accounting mumbo jumbo, sorry for the wall of text, but I thought I should explain it to you guys.

As per the OP, we auctioned off:
Cycloid's ownership: 63.1265 BTC
Cycloid's ownership percentage: ~ 8.73478368%
Cycloid's portion of hash speed: ~ 51.971 Gh

The 51.971 Gh is split like this between the winners:
josh4580           10 Gh
drlatino999        10 Gh
skidelo              20 Gh
yolo                    5 Gh
Ajay             1.971 Gh
Superduh            5 Gh

I do my books in BTC, that is how we've done it all along, but we made the auction in Gh so people can see what they are buying easily. From now on, each share you own will be now be converted to an amount of BTC. This is only so that I can put you in my ownership spreadsheet, which is calculated by the original amount of BTC each investor invested.

The formula I used to determine your share amounts is simple cross multiplication: (Gh Won in Auction) x (Cycloid's original investment) / (Cycloid's total hash speed) = (Your amount of shares in the group buy in BTC)

So... assuming you payed, you now own the following shares in the group buy:
josh4580             12.1464855400127             +partialsatoshi=    12.14648555 BTC
drlatino999          12.1464855400127              +partialsatoshi=   12.14648555 BTC
skidelo                 24.2929710800254             +partialsatoshi=   24.29297109 BTC           
yolo                      6.07324277000635            +partialsatoshi=    6.07324278 BTC         
Ajay                      2.394072299936503          +partialsatoshi=    2.39407230 BTC
Superduh              6.07324277000635            +partialsatoshi=    6.07324278 BTC
----------------------------------------------------------------------------------
                 Total: 63.1265 BTC              Total +partialsatoshis=    63.12650006

I am going to give you each a partial satoshi from my shares to make the numbers add up to a real Bitcoin amount. (because they are only divisible by to 0.00000001)  :)

I haven't messed up calculating any share transfers yet, but I must say that this was the hardest one so far because usually we do these in BTC not Gh, so please look over my work before we make these numbers final. If you have any questions let me know. ;D

Thanks,

Ch

2 BTC earnest money sent.
Transaction id: https://blockchain.info/tx/09c209228cb069eac73306779d5776c19102016209e3486cc0de82c57814b60c

Should have the rest of the bitcoins by mid next week.  Stupid ACH transactions take forever...

Hey, Just saw this post a bit too late.  Would have loved to throw in a bid for half of the shares.  Do you intend to take on more more at any point or do you recommend another group if you are not currently adding anymore?

thanks!
-JC 

payment sent Transaction ID: 0360ef54097f80c7db40e7c1ad52a9804faedd2ff0cdc5e8a3772cd73934c49e

Maybe in the future. Honeslty I'm dealing with more investors than I originally intended/wanted to at the moment.

Perhaps after I get the Avalons in and streamline dividend payments and share transfers (we're probably going to go on an exchange), then I might look to expand a little bit. But for now I am content with the amount of hardware that we already have on the way.

Thanks for your interest.

All winners that have paid, I will be getting in contact with you most likely Sunday via PM to explain things a little more. I have plans tonight and a wedding out of town tomorrow. There is really no rush on this, the Avalons won't be here for at least another couple-few weeks.

Thanks!

Waiting for PM.

Where do I have to sign up? Only the forum?

Thanks

Yes, please sign up to our forums. That's pretty much all you guys need to do. PM Relm9 for posting privileges.

I am working on the share transfers for everyone that's paid right now and I will post an updated share transfer list and ownership percentages of the entire group here and on our forums also.

Thanks, sorry it took me a while to do this.. busy busy.

It seems that 4/6 winners have paid Cycloid in full: drlatino999, yolo2222, Ajay, josh4580

Skidel has partially paid (2 BTC), and Superduh has yet to send any funds in.

Please correct me if I'm wrong, thanks.  :)

For those that have paid, I upgraded the group share transfer list and ownership percentages spreadsheet.

Please let me know what address you would like to receive dividends at, as you can see I left this blank for now.

Also, please make sure you agree with the amount of shares I awarded you, see my post above explaining the math.

Thanks,

Ch


Share Transfer Ledger
https://www.dropbox.com/s/m25ohqwmzjzhiuz/Share%20Transfer%20Ledger.xlsx

Ownership Percentages
https://www.dropbox.com/s/7b7omfd7hrbk9gs/Ownership%20Percentages%20%26%20Profit%20Projections.xls

I paid but am missing. I didnt announce the payment publicly though

My apologies. I do see a 9.75 BTC payment into Cycloid. Let me confirm with him this is you, and I will update the docs as soon as I hear back from him.

Hey yep thats the exact sum for his payment and i did receive it :)

Ok cool, I figured this was his payment, but I wanted to make sure first. I was maybe being overly cautious, but as this is not my auction I wanted to make sure.

I will make sure to do the share transfer and update the group docs tonight.

Thanks!  :)

Ok. All paid up!
2 BTC + 36.48 BTC = 38.48 BTC

TX id for 36.48 BTC: https://blockchain.info/tx/43f0c19fe14dec8d856a04e55fd50da968d1b9bff3a31dda0b682b66efc91353

Please confirm :-)

I can confirm it looks like you paid. I will update the group docs after work today.

Also, SuperDuh, my apologies, I did not get to update the docs for your information yet either. I will do them both at the same time this afternoon.

Thanks,

Ch

All paid for the exception of

Superduh            5 Gh @ 1.95             =  9.75 BTC

When will you be making a payment?

what? i've paid you and you acknowledged receiving 9.75 btc. i'm confused

Honest mistake I was just looking at last two people in CoinHoarders list of ppl who were still not fully paid and did not scroll through fully. My bad  ::)

Everyone is now paid :) Unless I am missing something agian  :D Coinhoarder hoes does it look like to you lol?

Yes, it seems everyone has paid. I will be conducting all share transfers this evening.

Sorry I've been kind of late transferring superduh's shares... I keep putting it off then never get to it. I have several other share transfers to do along with this one, so I'll make sure they're all done tonight.

Thanks guys!  :)

All share transfers have been completed.

Please check your information to make sure it is correct.

Share transfer ledger: https://www.dropbox.com/s/m25ohqwmzjzhiuz/Share%20Transfer%20Ledger.xlsx
Ownership percentages: https://www.dropbox.com/s/7b7omfd7hrbk9gs/Ownership%20Percentages%20%26%20Profit%20Projections.xls

Cheers,

Ch