Bitcoin Forum

SHARES REMAINING 10/10 @ 9.27 PM CENTRAL TIME, TUESDAY 06/25/2013

This group buy is intended to let less Bitcoin fortunate forum members take part in the opportunity to purchase cheap hash-rate through the BitFury series ASIC miner. The Bitafury ASIC was initially available for purchase throu Metabank with US delivery through this thread - https://bitcointalk.org/index.php?topic=223656.0 but has since long sold out.

I have reached a tentative agreement to purchase a Batch #1 Bitfury from the Ukranian supplier, and am taking interest form shares in this purchase. I am expecting to finalize a purchase agreement within 24-hours and have already negotiated a price.

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

Offering:

- 10 shares of BTC4 are available.
- Each share entitles the owner to 1/12th of the BTC proceeds from a Bitfury 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)
- The 2 outstanding shares will be owned by OP as payment for power/maintenance of the miner and peripheral hardware needed (UPS, possible router etc).
- After 24 months the miner will be considered 'spent' and become the property of OP (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 The miner does not arrive or arrives late. i myself have a vested interest in the miner arriving on time, and starts producing as fast as possible. I am doing as thorough of a due diligence as can possibly be asked, but there are always risks with hardware investments.

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


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

1. Send payment to the following address:   ADDRESS WILL BE POSTED ON COMPLETION OF PURCHASE CONTRSCT
2. Send me a PM stating your sending address and BTC amount sent. One share = BTC4
3. Post your share purchase here to make it easier for visitors to see when a share is claimed. I will also update this post with remaining shares every 20 minutes or so.

After payment has been received for all 10 shares I will do the following:

1. Contact seller and make payment for the miner.
2. Contact all share buyers with confirmation of purchase, a copy of sellers ownership/purchase proof and any other information related to the purchase.

Misc info; I will likely also be opening a second group buy for a verified batch #1 KNC Saturn or Jupiter shortly. More info on this coming.

Edit; IF YOU ARE INTERESTED IN SHARES IN THIS GROUP BUY,MJUST POST A MESSAGE HERE. NO NEEDMTO PM. AS SOON AS INHAVE FINALIZED PURCHASE AGREEMENT WITH SELLER I WILL OPEN THE GROUP BUY.

Friendly poke: Today is Tuesday 06/25/2013 !  (not 06/23)   ::)

Friendly poke received loud and clear  ::) apparently dates (or iPad keys) are not my strong suit.

So in the case of non delivery, the Bitcoins will be returned to the share buyers?

It depends on the final Contract that I am able to reach with the seller. Most likely yes, but I cannot promise anything until the group buy opens and I can provide purchase details etc.

Most likely this will depend on what assurances and refund options that the original manufacturer leaves and it will be up to share purchasers to assess the legitimacy of those promises. the only thing I can guarantee would be delivery/refund based on manufacturer terms. I will be investing personally in the group buy and will have a vested interest in its success.