Bitcoin Forum

This is an auction for ONE (1) BFL SC 60 GH/s ASIC pre-order.  BFL Order #1765 placed on 6/23/12.

	Minimum Bid:	50 BTC (+1 BTC Increments)
	Auction End:	2:00 PM EDT on June 7, 2013
	Escrow:	Payment will be held in escrow with Graet.  Escrow will protect the buyer against me receiving the item from BFL and subsequently not shipping it to you.  Escrow WILL NOT protect against BFL non-delivery.  Buyer assumes all risk of manufacturer default.
	Shipping:	I will ship within 1 business day of receiving the item from BFL.  In all likelyhood it will ship same day.  Shipping is free to the lower 48 US States.  Other locations will need to pay the difference. Unless requested, I will not open the box.  I will simply put a new shipping label on it and send it out.

Happy bidding,
Jezzz

50 BTC for a $733 order?  Hah.

How many BTC do you think he paid to get this early in the queue ? I guess ~80

Honestly, I expect it to end up a good bit higher than 50 BTC.  FYI.  BTC was about $5 when I paid for this item.  You can do the math.  :)

Well, hell... I guess I'll kick this off.

50BTC.

51

52

53

pure discussion...

lets ignore the (potentially high) risk of bfl delivering any units at all in a sensible timeframe and assume they will actually ship the units relatively soon once the problems are solved... and lets just focus on the value of an early delivery versus a new order... 

if this is a june2012 order (1st batch?) lets assume (pure guess) it might arrive in aug/sept (2013)..

the problems theyve been having that prevented any shipments of this model will presumably eventually be cured, allowing them to start shipping and begin ramping up in volume.. perhaps theyre even stockpiling boxes ready to ship once problems are solved which could mean they  hit their stride and ship a lot out in a short space of time.  rumours of them trying to source a beefy enough psu etc.  once sourced, the problem is cured.  right?

53 btc, at today's price is er $7k ish.   a new one, bought today and entering the queue at the end would retail would for $2.5k (a feb 2013 one was $1.5k), thus the premium for an early order is attracting approx $5k over list price.  So the big question is, HOW MUCH EARLIER will it be?  and whats that worth?  is arriving, say 60-90 days earlier than a recent order, worth paying at least $5k premium for?   has anyone figured this out...?  whats the breakeven point?

-- Jez

If the machine can be shipped within the next 2-3 weeks, it can make a life-time earning of over 260 BTC.

Having said that, people aren't willing to bid too high for a pre-order.   Bid price will be much higher if it's a machine in-hand ready to be reshipped :)

At current BTC price and difficulty, this unit will earn roughly 2.5 btc per day ($320/day).  At that rate, it will take the unit less than 22 days to make $7000. 

There are nearly 12 months worth of orders placed after this unit.  The potential number of units orders could be significant.  I would guess it will take BFL many many months to catch up to current once they start shipping.  I don't think 8-10 months is an unrealistic estimate of their catch-up time.  Obviously, that's pure conjecture since no one knows how many units were ordered in the last 12 months, their projected units shipped per day, etc.

Unlikely but what if you receive the unit before the auction ends? Is there a "buy it now" price?

I didn't factor that in prior to the auction going up.  So no, but I will post that I received it.  It seems unlikely that I will receive it in the next 7 days.

54

55

60

Hey, how do these forum auctions work? I don't want to get sniped at the last moment, but I also don't want to put in a bid that is much higher than anyone is bidding. Is there any way to make this ebay style so that the winning bid is incrementally higher than the second to last bid?

61

1 @ 61.5BTC

How will you be shipping the unit?

75 BTC

did u even bother to read the OP?
min. +1 BTC Increments
and shipping details are all listed in the Original Post.

QG.

The free shipping is 2-3 day service from either USPS/Fedex/UPS.  However, I am willing to ship overnight if the winner would like to pay the difference. 

If the winning bid is > 200 BTC, I will ship overnight to the contiguous 48 states for free.

https://forums.butterflylabs.com/pre-sales-questions/3054-estimated-shipping-time.html#post37901 (https://forums.butterflylabs.com/pre-sales-questions/3054-estimated-shipping-time.html#post37901)

FYI

76

Honestly, I don't know how this could work.  I think this is just a limitation of the forum style bidding system.  I can't think of an elegant solution off the top of my head.

90 BTC.

I'd like to reserve the right to determine shipping method at the time that you actually are about to ship to the unit to me, should I win the auction.
I'll determine if paying for express shipping is worth the 1 day mining based on the diff at that time.

I hope that's ok with you.

95

lol 75 x 128 = 9600
                   So what lol your making 9 grand lolol

Perfectly fine. 

Yes.  There is value in having an extremely early order date.  Also, I broke down the current earn rate of this device in an earlier post in this thread.  What would you pay for a device that makes ~$300 / day?

96

you guys for real?! damn . . . maybe i should sell mine too . . . hmmm

Less than 1 day left.  High bid is 96.

Escrow question: so if BFL fails to ship the item for any reason you keep the winning amount?
If so what's to prevent you from requesting a refund from BFL and keeping the 96BTC.
I don't think that's your intention. Just needs a clarification...

dwdoc,

Yes. The winning bidder assumes the place in line for this order.  This place in line comes with the risk that BFL defaults and doesn't ship.  However, requesting a refund and pretending that BFL defaulted would be extremely difficult for me to pull off.  BFL is highly unlikely to default on just my order.  If BFL fails, it will be for a huge number of orders and will be pretty transparent.  I hope this answers your question.

Elgreco / All,

I've thought about this more and I think a good solution is to do what a good many other auctioneers have done on this forum and put a time extension on the auction for any 'last minute' bids.  This will protect the bidders against sniping and will supplement the lack of a private max bid function.  An hour is not a terribly long time, but I think it will suffice.

So...

If there are new bids in the last hour of the auction, the auction end will be extended by 1 hour.  This will basically require that the winning bidder maintain the highest bid for at least 1 full hour. 

If any previous bidders (that post a bid before this message) do not agree with this change, please post on the thread that you retract your bid.

-J

97BTC

98

0_o People are paying Avalon level prices for a product that:
1) Doesnt even have a prototype yet
2) Has a queue, even if you are at the front
3) Unknown timeframe
4) Lower hash rate.
OP

Heh.  There are in-hand avalons with _starting_ bids that are double the current high bid here.  Final bids are ending above 250 btc.  Some close to 300 btc.  I wouldn't exactly call these 'Avalon' prices.