Bitcoin Forum

GROUP BUY IS CLOSED DUE TO TIME AND MANAGEMENT CONSTRAINTS. I RECOMMEND CANARYINTHEMINE'S GROUP BUY HERE: https://bitcointalk.org/index.php?topic=236103.0

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 opened BFL Chip bulk sale program. The chips are available in quantities of 100 chips (https://products.butterflylabs.com/65nm-asic-bitcoin-mining-chip.html) and I will be facilitating US ONLY shipping (included in share price). The chips will be ordered as soon as the auction closes, and delivery is expected within 100 days from Global Foundries (https://www.facebook.com/GLOBALFOUNDRIES?directed_target_id=0)

I have structured the purchase so that members wanting to get access to the cheap hash rate/GH that the BFL chips offers can take secure has the option of ordering chips under the 100 chip minimum quantity provided through BFL.

Offering:

- chips in batches of 5 are available for purchase @ 3.25 BTC per 5 chip order
- Shares can be purchased in any quantity (of 5 chips x BTC3.25 and include shipping, tax, duties etc. aka. all expenses included in getting the chips to your door.
- Chips will ship with USPS 1st class or Priority with tracking as soon as chips reach my door.

IN CASE OF NON DELIVERY: I take no responsibility for the possibility that BFL/Globalfoundries does not deliver the chips. 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. If something would happen that jeopardizes our delivery I will of course work towards a solution where we receive a refund of funds.

If I have forgotten anything or you require more info etc. Please feel free to ask/post in this thread. I will only be doing this ONE group buy as I do not wish to run multiple miners as chances are I would not have time to look after them properly.

If you are interested in buying one or more shares here is what you need to do:

1. Send payment BTC3.25 per 5-chip quantity to the following address:   1NUBZMXSAFpCADS9JH6mX3UcAUKgmFR8W9
2. Send me a PM stating your sending address, transaction-id, and BTC amount sent and I will respond with a email address where to transfer the chip credit equivalent of your purchase.

After payment has been received for all at least 100 shares I will do the following:

0. Verify share ownership with all buyers and close the group buy.
1. Immediately order and make payment for the 50% down payment that is required from BFL per 100 chip quanity
2. Post transaction proof here.
3. Convert BTC into USD for the 50% remainder of purchase required to be paid at shipping date.

When chips ship I will do the following:

1. Contact all chip buyers for delivery address.
2. Post tracking info for chip parcel
3. Package and send chips within 48 hours of arrival at my US address.

IF BTC price should fall sharply before this auction closes I reserve the right to refund all shares, as this may cause the BTC / USD price to fall below a level where BTC covers purchase of chips, shipping, tax/duties etc.

Edit: BFL has now released all necessary schematics for build ping the chips into functioning mining equipment. Info: https://bitcointalk.org/index.php?topic=235892.new#new
I expect several DYI projects and companies accepting chips and building mining equipment within a few days/weeks.

Edit: I have open ended up for the use of chip credits and will make price changes to reflect this. To order/show interest to order this group buy now REQUIRES that you own transfereable chip credits equal to the number of chips you wish to buy. Minimum of 5 chips still.

I may be interested, but what hardware do you need after receiving the chips to start mining?

Currently there are a few DYI project builders (Klondyke and Burnin I believe) waiting for specs to be released form the PCM/Boards.

As soon as a project here or by anker reputable company is available I expect to be able to help share/chip owners in facilitating building of complete miners.

For now, this group-buy is just an early chip order to secure fast chip delivery. I have no doubt that several mining builder options will be available before delivery date (100 days from order at the latest).

i am interested in 2 shares maybe more

but i feel more comfortable when i know we have a working pcb or something

I totally understand that, problem being that when PCB is available I assume the chips to be sold out already. Look at Avalon. No proven PCB yet and 500.000 chips sold.

How do you propose distributing the chips to participants of the group buy? The chips in a lot of 100 from BFL are not all the same:

There are 2 possible scenarios:

1. The chips arrive unmarked/unsorted leaving me no choice but to send chips 100% randomly. Since only 5% are class-D a random selection should leave everyone with well over an average of 4 gh/s in any 5 chip batch.
2. If the chips arrive marked with quality/class I will simply send owners as close to the split of chips qualiy provided by BFL in the product statement.

That sounds fair

It's impossible to accurately predict what the ratio's will be in any wafer. Wafers vary from one wafer to the next.

BFL's first (working) wafers had tested as 1.76watt per GH/s then later they realized alot of other chips were anywhere from 2 to 6 watts per Gh/s.

With that kind of volatility you never know what you will get.

Oh I am fully aware of their history, though they do guarantee 3.2 w for chips ordered, and since the numbers posted are Global Foundries specs it seems a lot safer then BFL estimates.

I have to wonder, 4GHz is fast, but in 100 days, will it mean anything anymore? I'm tempted to actually just buy 100 chips myself and then sort out manufacturing that into boards later. However at the same time I can't help but wonder- 400ghz, will that be worth it once the time comes? What do you guys think?

I personally think that even with vastly increased diff, the difficulty will of course not increase exponentially. As long as you are buying next gen tech, diff will eventually plateau. If you look at diff/earnings historically I think the CPU/GPU boom is relevant. We are Just seeing the same technological paradigm shift from GPU-->ASIC. If you buy the latest generation ASIC now, it will earn you money as long as it is the latest generation tech available, just as GPUs did until ASIC started hitting the market.

I think that is a pretty good way of thinking about it.

I bought 100 chips from BFL. Consider this: of all the miners/chips projected to come on line in 100 days ( bitfury, kncminer, avalon bulk chips, BFL, etc.), BFL is the only one that both has a working chip and is motivated by the fact that they will get the rest of their 50% payment on delivery. I believe that along with the fact that chips can ship directly from GlobalFoundries without being delayed within BFL's device manufacture chain gives BFL chips an edge over the others.

any updates regarding a working pcb for the chips

Josh released the chips specs and it can be downloaded from butterflylabs forum.

save some money with coupons

https://bitcointalk.org/index.php?topic=235343.new;topicseen#new

If i buy a coupon, how will i be able to use it if i cannot buy 100 chips from BFL as far as i know they require 100 minimum chip order

maybe the group buy organizer can consider to incorporate the credit coupon and reduce the cost?

I am looking into the possibility for using chip discounts for this group buy.

if we can get the voucher discount that will be awesome

and i can buy couple shares

I have contacted BFL reg possibility of combining chips for purchase under 1 account. I have almost enough for the entire 100 chip purchase myself but would like to see if we can't combine a few accounts and maybe make the group buy larger, or at least have the option to do so.

All necessary schematics and software for producing miners using BFL chips has now been released. See original OP post for info.

would there is a price drop accordingly  :)

Yes. Actually, people that have chip credits can show their interest here and if it looks like we can fill at least 100 chips I will re-write the group buy to take into account chip credits, and also publish info on credit transfer with payment info.

That way this group buy would use chip credit orders only, and the price will reflect this ASAP.

Ok, I have now updated the group buy to reflect price using chip credits. Note that to purchase chips you will be required to HAVE CHIP CREDITS.

I have 384 chip credits for sale for those without chip credits.  PM me your offers.

Will you provide some hardware assembly service?

As soon as a PCB design/DYI design maker that is trusted enough exist, I will facilitate chip usage for building of actual miners. YES

I am in the process of acquiring chip credits to cover at least the first 100 chips. Stay tuned.

I realize that buying credits, ordering chips and running a group buy is just not in my best interest right now. If you are looking for a chip group buy from a reputable member I recommend Canaryinthemine's group buy here: https://bitcointalk.org/index.php?topic=236103.0

ADMIN can lock/remove this thread. No longer open, no trades made.