Bitcoin Forum

SHARES REMAINING 0/10 @ 3.45 pm Central time 6/5/2013

This group buy is intended to let less Bitcoin fortunate forum members take part in the opportunity to purchase cheap hash-rate through the recently launched KNC Miner (https://www.kncminer.com) company located in Stockholm, Sweden. The unit that she shares relate to is the KNC Saturn advertised for 175 GH/s (https://www.kncminer.com/products/saturn-1500).  

I have structured the purchase so that members wanting to get access to the exceptionally cheap hash rate/GH that the Saturn offers can secure has rate from one of the machines without spending the full BTC30+ for a purchase.

Offering:

- 10 shares of BTC3.5 are available.
- Each share entitles the owner to 1/12th of the BTC proceeds from a KNC Miner Saturn mining 24/7 for 24 months*, payment will be made to the address of the share-holder weekly, bi-weekly or monthly (I am flexible here) (* or until such a time that difficulty makes mining with the unit no longer profitable, whichever event occurs first)
- The 2 outstanding shares will be owned by OP as payment for power/maintenance of the miner, peripheral hardware needed (UPS, possible router etc) and use of OPs '500 first unit' pre-order number that will be used to purchase the device.
- After 24 months the miner will be considered 'spent' and become the property of OP (TheSwede75) (this is for reason of simplicity mostly, since I believe BTC difficulty in 2 years will essentially render the miner a warm paper weight). IF hash rate increases VERY quickly and I feel that the share holders can make more money selling the ASIC before the 24 months are up I reserve the right to take a vote among share holders (majority rules) on doing so.

IN CASE OF NON DELIVERY: I take no responsibility for the possibility that KNC Miner does not deliver the miner. I have done what I consider a thorough due diligence but as we all know, you can never 100% guarantee anything when it comes to pre-orders.

To purchase shares:

- Send BTC3.5 per share to address: 14RC4pPxK7TAbmCkuVmofFqeLJecoiadkQ
- PM me/and post the transaction ID (txid) in this thread. ONLY use sending addresses you fully control. I will use the sending address for BTC payouts for your share ownership and if you request change of payout address I will require that you can sign your share purchase address to make this happen OR I WILL NOT CHANGE THE RECEIVING ADDRESS. This is for your own protection.

If I have forgotten anything or you require more info etc. Please feel free to ask/post in this thread.


Should the Group Buy not sell all 10 shares within 48 hours I reserve the right to refund all share holders their purchase price -5% for transaction fees and management of the group buy.

Here is a screenshot verifying OP's logged in account with access to the 1-500 #1 batch pre-orders.
https://i.imgur.com/EOVqY1J.jpg

Edit: I have temporarily closed the group buy for purchases as I need to tally up the shares, verify buyers etc. I just woke up and apparently we were quite popular in the 5 hours I 'napped' on the couch in front of the new season of Arrested Development :)

Edit; All currently ordered share-holders should now have received PM's with verifiaction of purchase. There are currently 3 shares left and I will hold these 3 for 'seleme' for a while (PM sent) while I follow the updates on the KNCminer open day.

I have no doubt we will sell out and have also contacted KNC miner to ensure that the funds raised will cover not only purchase but shipping. Update coming as soon as I have more to report.

Edit; I have resolved the shares that were on 'hold' and there are currently 2 shares remaining.

ALL SHARED HAVE BEEN SOLD. AWAITING CONFIRMATION ON FINAL PURCHASE PRICE AND DETAILS FROM KNC.

MINER IS ORDERED:

 Payment details can be found below:

Order ID: 12xx

KnCminer order number: 2Z3-xxxx-001222

Shipping address and contact details:

Name: xxxxx
Last Name: xxxxx
Phone: xxxxx
Country: United States
State: xxxxx
City: xxxxx
Zip: xxxxx
Address: xxxxx
Email: xxxxx

Chosen shipping method:
 UPS Zone 7

Chosen payment method:
 BitPay

Order details:
    SKU   Name   Price   Quantity   Total
   33   Saturn 1-500   $ 3,795.00   1   $ 3,795.00
Subtotal:   $ 3,795.00
Shipping cost:   $ 102.60
Total:   $ 3,897.60


Comments:
For Bank Transfers please use the following details

In the reference please add your order number so we can track your payment

Bank Name: SEB (Skandinaviska Enskilda Banken)

Account Name: KnCMiner AB

IBAN:  SE1850000000054238202171
BIC:  ESSESESS
Bank Address:  SEB, St: Eriksgatan 32, 112 34 STOCKHOLM/SWEDEN


Edit: AND NOW IT HAS BEEN PAID FOR!!

Status: 0/unconfirmed, broadcast through 31 nodes
Date: 6/5/2013 17:22
To: Payment for KNC miner @ 32.3567 BTC ($3.897.60) 1MCjnvDW1kQmkeP97fffVq8FzJRXBtDx3A
Debit: -32.3567 BTC
Transaction fee: -0.02 BTC
Net amount: -32.3767 BTC
Transaction ID: f45671487153807babe77214a6481978e174872d07cd6a9c373214d947bcdbbd

https://i.imgur.com/tJ21ck7.png

Share ownership log:

https://bitcointalk.org/index.php?action=profile;u=103907    Shares: 1      1TyrionZS3HPKpPJCWfmiusQL6zX6x8y9

https://bitcointalk.org/index.php?action=profile;u=90204      Shares: 1      1ChJv93aryJBtVrNevCDYdTNd9sEcg7p1R          
(http://blockchain.info/tx/e536220b94ea36d2ead9741ac2669d3640168fb5fa817ac5e25d927a392635b6)

https://bitcointalk.org/index.php?action=profile;u=121417    Shares: 2      1BxPLhWDcaEu7JGa9vHykYs15VEEqjWhyh
(http://blockchain.info/tx/9a83b1df04e5d19b0045159ced81a75304c0b4a2d58b4da4be6382bffc4b1beb)

https://bitcointalk.org/index.php?action=profile;u=18321      Shares: 1     1NASTYfxUpKPwin7b1KTBFjeeofrLSgXDJ
(http://blockchain.info/tx/e9164e9b960193258a6609ef5b9f192e9bd29d44bbfdc55168e62cb05d964f3a)

https://bitcointalk.org/index.php?action=profile;u=80081      Shares: 1     1DM8pdm1KbTfAcChuoawkEEbwEqGVzmqQ4
(http://blockchain.info/tx/3155c769008bb38fe1531df0afefc3b5442a4993f6699f50be08e3a6b2f2d6c6)

https://bitcointalk.org/index.php?action=profile;u=58365      Shares: 1     1A6BXaKWnaCgggTq3PjxeybEKQTybqmanY
(http://blockchain.info/tx/4218556c7bc62b0aca16a2af05926f60e4e0502d19451b470a5c701deed29c45)

https://bitcointalk.org/index.php?action=profile;u=60149      Shares: 1     1Ntxowic7h6ZdVgMyQNUb7nmnQTckw3ieD
(http://blockchain.info/tx/231ede7cdf4d60b52edd088860ee4260d85b6f4b94ce58b0e27ce4816ef12a75)

https://bitcointalk.org/index.php?action=profile;u=92159      Shares: 1     1MineyU7Hni51rn1CaXLAscfNDgk2YrfTd
(https://blockchain.info/tx/6ab3e3154ec57e068613a43cf674aeee4971603b9e5411a499c6c8cc8f20df0d)

https://bitcointalk.org/index.php?action=profile;u=101167    Shares 1      1KnC1o5RXy7pxTC3sJaJCDdnuApmEU61yc
(http://blockchain.info/tx/54e9cf2eb31404eef1c855171b3cfa4f4a518f6c51fa3f26189dfc02cb194963)

https://bitcointalk.org/index.php?action=profile;u=121417   Shares 1      1BxPLhWDcaEu7JGa9vHykYs15VEEqjWhyh
(http://blockchain.info/tx/dc01ae790c985ed44a8512024e63761ebed950644a0f05fb7c4a155cc538cce2)

Share 12 is owned by OP (TheSwede75)

I'm interested of 2 shares of jupiter or 4 shares of saturn. Can I reserve those shares? Thanks.

Interested.

i'm interested but only when your are ready, no pre-order of anything for me

Reserve 1 share for me now please :)

I would like to reserve one share please.

Curious, what is your reasoning behind trusting this company?

I'd take 4 shares but payment can take up to 60 hours (blocked funds in escrow purchase and JohnK takes max. 3 days for other side to respond, though I hope it will be earlier)

Whew what a risky venture. I trust the Swede75 and even think KNC is legit, but that all said, still quite the risk. Perhaps at least waiting until the open -day is over tomorrow may be wise.

Good luck to all involved (I say with no sarcasm, do mean it, could work out quite well...)

Honestly, really not a thing. I expect that 'we' will make the purchase after their 'Open Day' tomorrow when some forum members are going to visit their office. Other then their opinion I guess it seems 'unlikely' for them to be a 100% scam since the owners are public and own other companies in Sweden, ORSOC being a fairly reputable company and them having shown a working 6 GH/s FPGA on video.

I would say chances are:

5-10% scam
20% late delivery
70-75% delivery 'on time' and with reasonable watt/GH promise kept.

I expect that we will NOT order until 'Open Day' reviews start coming in. That said, once that happens I expect orders to fill up quickly and it would be in our interest to have funds ready for the purchase. Hence the share-sale start today.

Will there be a date after which, if the KNC Saturn isn't delivered, all shares will be refunded? And if such a refund occurs, will the refund be in full or less a stated management fee?

Depending on how the auction fills up and how open day turns out I will try to hold 4 shares for you.

Of course, if the miner is not delivered and we receive a refund of the purchase price any refunds will be decided among share holders YES.

I cannot speculate in what date this would be, but I will say that if the delay in delivery is significant enough that the share holders feel that a refund is the best way to recoup the investment, I will of course take a vote and go with the majority rule on how to proceed.

96d319692364ac87a2ad09e459c6c741a754dee014042a9db62f5fdfc42c7ebf

W00t w00t in the ..

B0tt :)

You are also confirmed for 1 share @ [btc/3.5 txid: 96d319692364ac87a2ad09e459c6c741a754dee014042a9db62f5fdfc42c7ebf

Thanks  ;)

interested in 2 shares pending open day results

I will wait for open day results before ordering the device (though I will prob do it early open day if results are positive). You can purchase shares now and if open day is negative (If members report likely scam or enough share holders feel purchase is a bad idea) I will refund the BTC to all share owners.

Is there 1 share still available for this GB? If YES please PM me with details. I want to buy.
Kind regards.

Fluff.

I'm not ready to roll on this, or I'd do it.

Let us know how it goes, eh?

Yes, there are still shares available. Check pm

Payment sent. Tx: e536220b94ea36d2ead9741ac2669d3640168fb5fa817ac5e25d927a392635b6

I would swap percentages in lines 2 and 3...

How many shares are still available?

Are you going to host it yourself? If so, can you narrow down your location a bit (just to be sure about your access to uninterrupted internet and electricity).

Have you considered this "hosting by knc" option?

The most weird and risky part. Why do you take 0.175 BTC for a couple of clicks? And why do potential investors have to risk their 5% in the very beginning?

Payment sent.

Transaction ID:

9a83b1df04e5d19b0045159ced81a75304c0b4a2d58b4da4be6382bffc4b1beb

I will send you PM in regards to this too.

Thanks.

how many shares are available at the moment? please PM me.

And how much net hashing will I get for 1 share?

175GHs / 12

Update: Just woke up on the couch, apparently I need some sleep. Will crash for a few hours and then update thread again.

Question, who pays for the power and colocation?

Or will you be hosting it in your home?

I'm in:

4218556c7bc62b0aca16a2af05926f60e4e0502d19451b470a5c701deed29c45

Thanks,
Dave

I'm in for 1 as well:
3155c769008bb38fe1531df0afefc3b5442a4993f6699f50be08e3a6b2f2d6c6

I see that the OP has been updated to reflect 0 shares available at 5:20 AM central time.  Before I sent my payment (at 8:42 central) it said 5 available.  

TheSwede, can you verify a list of who made it in the first 10 shares?

I'd also just like to verify that my reservation was accepted. My transaction should appear relatively soon, just got to break some bitcoin out of cold storage.

I have gotten a few PMs reg. payments ans share allocation. I am going through the payments now. Everyone who sent btc in the last few hours are GUARANTEED their shares. The reson I closed the auction for further shares at this time is purely to make absolutely sure I do not over-sell shares.

Expect a pm within the hour if you have sent money but I have yet to verify your purchase. There are currently a few shares left that I will be releasing when I ham 100% certain all current buyers are correctly accounted for.

Thank you for youtpr patience, I would just rather get it right then stress.

The plan for now is for me to host the miner in my home. I am however waiting for the final details on knc miner co-location. If it would be financially beneficial to all share holders to co-locate at kncminer I will bring this to a vote.

If I as planned right now run the miner from my home I will carry running expenses from the proceeds of the two shares I own. I pay $0.10 kw/h and will have fail over Internet (Comcast/AT&T) and have a ups/surge protector in place. I am also having an alarm system installed.

All currently ordered share-holders should now have received PM's with verifiaction of purchase. There are currently 3 shares left and I will hold these 3 for 'seleme' for a while (PM sent) while I follow the updates on the KNCminer open day.

I have no doubt we will sell out and have also contacted KNC miner to ensure that the funds raised will cover not only purchase but shipping. Update coming as soon as I have more to report.

I have received your PM thanks for the confirmation. Please let me know if the 3 shares don't get sold. I am thinking of taking another one. Thanks.

Will do.

3 shares remaining. Please PM me BEFORE you send funds so that I can make sure not to over-sell shares.

I have sent payment for one share.
Transaction ID: 231ede7cdf4d60b52edd088860ee4260d85b6f4b94ce58b0e27ce4816ef12a75

1 share remaining for purchase + 1 on hold for payment before the group buy closes.

1 share remaining. PM me before purchase. I will also at this point start the ordering process to verify final price including shipping etc. I deem it worth it to order now based on the 'proof' that is starting to show up from the 'Open Day' in Stockholm: https://bitcointalk.org/index.php?topic=214285.620

If this seems ok to share holders I will way a few minutes and then attempt purchase covering the last share, if possible with my own funds.

I'll take the last share. Go ahead and pay, I'm good for it :)

Update posted in thread top.

Paid. 1KnC1o5RXy7pxTC3sJaJCDdnuApmEU61yc

Update in post thread top. Miner ordered and paid for! Congratulations everyone :)

I was already asleep when you opened 3 shares. :-\

Thanks for organizing this! I'm all kinds of delighted.

Thanks a lot for putting in the work to launch this group buy. It should be an interesting ride from here on out. Let's hope we can make it rain bitcoins.

Thank you very much for the feedback and kind words. Just trying to be quick, honest and easy to work with. Lets hope for speedy delivery!

Thanks for organizing this. Will participate in your future group buy too.

And if this goes on well, of course I will put in positive feedback (not like a junior member matters much, but I don't think I will still be a newbie when this miner arrives).

Congrats to all buyers!

Any update on shipping?

Right, this should be mining now/very soon. Talk to us please TheSwede!

Any update?

SORRY! Been out-of-internet for close to a week. Good news is that the KNC Saturn has shipped and should be arriving/mining within the next few days. I will post here when this happens. I will likely also send a very small dividend to everyone 1st day or so just to make sure I have up-to-date addresses and to show everyone that it is indeed hashing.

LOL that's reassuring

It's also a lie.

Out of reliable internet, aka. not at home. The KNC Miner arrived at post office yesterday and should be delivered today around lunch Central Time, hashing before end of work.

nice

The miner is now hashing, and I will send out the first payment today. It seems there may be somewhat of an issue with one board that I will investigate (far higher temp on one and not hashing at full capacity) but to make up for the longer transit time then expected I will still pay out 275 GH/s by simply making up for the lower hash rate with my personal BFL 60gh.

I have a payment script I will be testing out today so expect your share of approx 0.55 BTC in the next 24 hours.

First dividend now sent (0.65 BTC / 10. a few min ago).
To minimize network fees etc. I will just go ahead and send dividends with a mining report weekly on Fridays around the same time (2. pm central).

Of course, I could also just set the payout address as default in Eligius and have the pool take care of sending. What do we think?

FYI here's the transaction.

https://blockchain.info/tx/cab576646441a1de40dcc77ba9e1e1ae1eb76da79999ee17ec13f0d27f22bab1

All the dividend payments should come from the 1CwrK8GTwq4eQYZwTxMpL271Bpj7Zu3PUQ address. I'd vote for just using using the 1GHY9Vb8GyyohfoFqyHmjc5mC1KeyV7ND4 address (the payout distributor address for this group) as the eligius address so we can all see exactly what's happening, and we can get payouts as soon as eligius finds blocks.

I will start using this address as direct payout hopefully in the morning, I just to visit the data center where I am hosting the miner.  

Edit; Traveling like crazy and had no time to visit data-center. Making at least weekly payouts of entire mining income as promised though.

Thanks for the payouts so far!

Yeah, the automated dividend system is working pretty well, if I do say so myself :D

TheSwede75——labcoin scammer

what?


Is he still paying?