Bitcoin Forum

Original thread here: https://bitcointalk.org/index.php?topic=262052.0

The product: https://www.hashfast.com/HFshop/babyjet/ and from the product page:

This is a special sale of the first engineering run. This sale will continue until we are sold out of a total of 550 units. Shipments begin October 20-30, in order of purchase.

Introducing the Baby Jet

This mining unit contains one HashFast Golden Nonce (GN) 28nm ASIC chip that performs 400 Ghash/s at nominal clock speed and consumes significantly significantly less than 1.0 W/GH.  It can be underclocked for greater efficiency and overclocked for greater performance. The chip has on-die thermal controls to allow operation at its absolute maximum performance.  This equipment is solely intended for use in commercial environments.

Product Description

System Specifications
•Contains 1 HashFast Golden Nonce (GN) Chip
•Under 350 watt power draw*
•Efficient liquid cooling

Chip Specifications
•28nm custom ASIC
•Hashing Output: 400 Gigahash/s at nominal clock speed
•Power Consumption: significantly less than 1.0 W/GH at nominal clock speed
•Designed to be underclocked for greater efficiency – better than 0.5 W/GH*
•Designed to be overclocked for greater performance  - better than 500GH/s**

Logistics
•Batch one volume: 250 Thash/s
•Shipments begin:  October 20-30, in order of purchase
•Payment to be made in BTC with the help of BitPay
•Order sequence to be posted publicly
•Weekly production updates will be sent to the email address attached to each order

* Real silicon power consumption may vary from simulation results by plus or minus 20%
** May require improved power supplies in the chassis
---------------------------------------------------------

I'm selling shares in hashing power of 10 units.  Totaling 4000 GH/s. the price is .15 btc per share.  Each share represents 1Gh/s.  A total of 4000 shares are available.

Hosted in a climate controlled environment.  payout daily.  The farm will payout 99% of profits after electricity/rent costs (nominal).  1% is kept on an operating account of the farm to pay for incidentals (for ex: Ethernet/USB cable replacement, power cord . and time to administer payouts etc...)
Changes to operations can be done by voting.  Each share owned represents 1 vote.
This will run until it is no longer profitable.  equipment will not be kept by anyone, but will be auctioned off and the final proceeds will be split up.  if there are funds in 1% account, they will be split up.

Payment:
Please indicate the number of shares you wish to purchase and send payment to 1JdQUVY5SpkjMLKgEnQtA8bJyKyXMpE1RH
please post in the following format:

NIC; # of shares; btc sent; transaction id; first sending address of the transaction id; payout address (can be TBD which stands for to be determined later)

Please do not send funds unless you control your wallet and can sign a message with the sending address!!!  Wallets like bitcoin qt and blockchain wallets can sign messages. Please do not send from an exchange, you do not control the sending address and can't prove

Disclaimer:

As with any ASIC, you need to understand that there are risks involved.  Do not invest what you are not willing to lose. EVER and in ANYTHING!  Having said that, you understand that I
can not make any guarantees on the manufacturer's behalf and every participant agrees to the terms and conditions HashFast attaches to the order.

Why am I getting involved in this?  After having had contact with different people who are involved in bitcoin hardware and having solicited their opinions, I think HashFast will deliver.  But this is only my opinion formulated based on the research I've been able to do.  Please do your own research!  And I have an empty computer room with plenty of space for 10 of these units and plenty of power 350W * 10 units.

Reserved for a list of shareholders

3936 shares available.

Sounds exciting!

+1 :)

Interested

Interested...do you plan to make the shares available on btct and bitfunder too?

Definitely interested.

interested, especially if shares on btct too :)

No way, Havelock!

better US$ per ghash, im in!

also, bitfunder pretty plzzz

edit: paypal payment?

Out of curiosity, there's a lot of folks asking similar questions in regards to delivery timeframe, hashrate vs. price, uncertainty in the market in the various HF threads in Custom Hardware. 

Can you provide any of your motivating factors for choosing Hash Fast as opposed to any of the other vendors delivering in a similar timeframe?  That's a healthy investment and very curious why HF stood out for you as opposed to anyone else or a mix of vendors as a few other folks are doing.

The words "expected delivery" make me cringe. Yes, I am a BFL customer.

MARK!

Definitely interested.

Shut up and take my money!

Interested.

By my math, the total shares available are around 2,200 per unit. Or around 22k shares total.
That is based on cost of the units and current price of BTC.
If someone bought 2200 shares, they would get all BTC mined by 1 unit, minus 1% fee and electricity/rent costs?

this is really designed to give many people an opportunity at this, rather than 1 person buying everything up... but it's a free market  ;D

So, how many GH per share?

Geez Canary...

4000 shares x .25 BTC = 1000 BTC

You're charging 1000 BTC for hardware that costs 560 BTC.

Don't you think that's a little ridiculous?

Did you mess up in your post/math?

Don't forget the 1% to cover expenses. ;)

This is essentially what I was getting at.
I will probably just buy a rig.
I like $14/gh better than $25/gh.
I gotta admit, Canary has been awesome with customer service and delivery. Any excuse to throw more BTC at him is tempting.

yes! it's late... sorry about that! fixed

.15 BTC/GH! ;D ;D ;D
I am pulling BTC off the exchanges now.
Canary, please put up a counter showing how many shares remaining available.
I assume these shares will be transferable, and there will be a system to handle transfer of ownership? If so, details on that too please.
Canary, it is because of people like you that Bitcoin has been, and will continue to be, such a massive success!
Cheers!

Tempting. Will read up on the details on this company and Want to get 2-3 BTC worth to spread my investments.

So, have you purchased those units already?

Interested!


Same question.

Order is placed.

interesting..

As I see how's Canary doing business I think he definetively deserves trust.

I'm going to buy 60 shares.

 :D

Funds sent for 14 shares :)

added to the list

duquevalentino; 60; 9; 7484644ac2b0cafc51406ff0a880a8e201a2de291f7a156659af4a92c2132cf1-000; 1NJChbdFGZrudH7syvoMAKLwnWYrQpJXSh; 1NJChbdFGZrudH7syvoMAKLwnWYrQpJXSh

Do you acccept Paypal for payment?

sorry, I do not.

going to get some rest... will update shareholder list later on.

I hope can get a few shares at least..im out till the next 12 hrs!

Any proof of that? Sorry but that will make me feel safer to invest in.

Can somebody please provide the calculations on this investment
showing ROI after Increased difficulty and October/Early November delivery?

What will happen if they are not able to deliver this machine?

I've been pondering the same thing. The question you have to ask yourself is what do you think the average rate of difficulty increase you expect to see? To me it seems that we are entering explosive difficulty growth. The next difficulty increase to hit looks to be about 30%. If that is sustained you are looking at 50-60% growth per month. While not perfect I found a good calculator I like to use. It would be nice if it did more than monthly difficulty increases but it's close enough for rough numbers.

You can find it here: btcinvest calculator (http://btcinvest.net/bitcoin-mining-profit-calculator.php#)

I plugged some numbers in and assuming 50% difficulty growth per month you would get about a 66% return on your .15 btc invested over one year. ROI would be achieved after nine weeks of hashing assuming it starts on November 1. So you are looking at ROI, with these assumptions, by January 1.

You can find the calculator with the parameters I used here: btcinvest assumptions (http://btcinvest.net/bitcoin-mining-profit-calculator.php?diff=48821997.91810336&dcosts=15&diff_mincrease=50&blpbtc=25&dhsmhs=1000&btcusd_mincrease=0&btcusd=100.00&dpowcon=0&dleadtime=12&pcost=0&calcweeks=52&action=calc#).

The two major factors here are of course delivery time and difficulty.

I'm very tempted to jump in on this. I'll probably make a decision early next week but wouldn't be able to get funds for many days.

Why would you trust calculations made by someone else instaed of doing your own? Also, Nostradamus haven't written what the difficulty will be in November unfortunately.

ROI is questionable on these units because of uncertain factors.  Canary put in an order totaling roughly $56000 and is collecting BTC (if all shares sell, with current BTC price) to the tune of $60000 (assuming this covers their shipping as well).  This also means that Canary achieves instant ROI if all shares sell, meanwhile folks buying shares will get dividends and may reach ROI.  It's a tremendous bet to make right now, especially with Avalon (if we can trust them anymore :D) saying they'll have new hardware in the same timeframe this is being delivered.

http://mining.thegenesisblock.com/

Please post your calculations.

OK, so figure 3,500 shares with a fee of .05 that is 15,000.00
Don't get me wrong.
I'd love to jump in this GB and I don't mind someone making a buck.
Just want to see some compelling evidence on ROI.

Wow. I didn't realize that the current 30 day average was 75%. It looked to me it was more in the 60% range. Anything north of 65% quickly becomes a money pit. Thanks for showing me that.

What changes this is BTC price.
IMO fair value is over 125USD per share and quickly becoming justified to hit the 200+ range.

Another way to look at it is get in get out with long term holding. I want to get back my capital as quickly as possible and then get as many bitcoins as possible from that investment. Lather, rinse, repeat. That of course doesn't work if you can't get it back out.

But I think we are now well off topic. This is the last I have to say on the matter. :)

Estimated mining power by October:

Minimum: 100TH AM + 100TH Avalon + 300TH Avalon chips + 200TH Bitfury + 300TH BFL = 1PH
Realistic: 300TH AM + 100TH Avalon + 500TH Avalon chips + 500TH Bitfury + 1PH BFL + 500TH KNC = 3PH (actually up to 5 or 6 with all upcoming hardware)

Revenue per GH per day: from 1 to 4 mBTC

Lifetime revenue:
The very best case (totally unrealistic) scenario: 1PH by October and 10x growth per year after that: 0.6 BTC/GH
Much more realistic case: 3PH by October and 100x growth per year after that: 0.1 BTC/GH
The worst case: 6PH by October and 1000x growth per year after that: 0.03 BTC/GH

P.S. Conclusion: why would I ever fuck with mining? CoinLenders pay 25% APR, JustDice currently about 10% per month.

fantastic and thanks!

How does someone new to BTC with an Investment say on a scale of 20-999 GH/s make sense of it so they can make wise Investment choices in the GH/s market.

Don't want to derail Canary's thread too much, conversation in regards to this is happening over in speculation:

https://bitcointalk.org/index.php?topic=270200.0

My opinion is that currently mining powers are overpriced and mining market is over-saturated in sense that already ordered and paid powers costed more than all coins they will ever mine. I think that the right choice here is waiting until the next increase in price (say, to $500 per BTC), so you can order the hardware much cheaper (in BTC). Another option is betting against mining (look towards CB.IDIFF-O and DMS.SELLING securities at btct.co). Also, there are some promising mining-unrelated investment options like CoinLenders and Just-Dice.

OK good.
Though I'm seriously considering this GB...

nubbins; 15; 2.25; f1f298602aad33add80cf1ec8a32e3505d35ee88d84573c4809a5c3fceeb0d9e; 1MLupEjeR9zw5gaJKrhh8PovG8hH1Wgsn1; 18SfgVArcEW7YeTyF9e6fuprRBdgTj1vmR

beware!

https://bitcointalk.org/index.php?topic=270384.msg2898990#msg2898990

it can be scam.

I'll nibble... 2 shares purchased for a starter position.

2 shares; 0.30 BTC; ae38420c0b103bd17a759c396a37cd95926ef5c21efa27079c7ec12125db0fe2; 1HN9jKX5b7ptyyUXMuTkrheRwYPCPnHmGK;

1HN9jKX5b7ptyyUXMuTkrheRwYPCPnHmGK

 ;D

I'll be in for at least a few shares.

addzz; 2; .3; 65928b979f8afd4b9f295bcfc92e5c72ff8c1bcbf17853abe9bff473b6cd842f; 1BSfrqY825m7V77Tn58mfpQvXksBYtndLj; 19PBLD6yspVMCjZi4FUh7LkeatReB6mWL

Hi Canary,

Here's my 2cents:

Worldly; 2 shares; .3BTC; d38aa0c09ab5318610516d3e83eb5becb8c0559581eafc09049b01f2c63eb9d5; 18XgMHvg5yHaea6Ft3hPoiLkwEQ7k4TNxv; 18XgMHvg5yHaea6Ft3hPoiLkwEQ7k4TNxv


Thanks!

It's not a scam! Btw nice avatar :)

gorkab ; 5 ; 0.75 ; 5c212111f9ea59fc213631cc726f1a6b29e70f66bf707370cc0350f482292b53 ; 1EGfgJRnD8qfbhx5uhWLdUiz9EzCeTLwL1 ; 1EGfgJRnD8qfbhx5uhWLdUiz9EzCeTLwL1

Thanks

thanks

but they promised to deliver at 20 october... but if they ship any of miners before 31 dec you cannot refund :)

czspeedycz; 35; 5.25; 2d2e229df9398eb3cbb0b31368852430488564a1eb24df3218dabc9d81f8ee6e; 161pjNJ7jfUkJcAEB8sg26Na868FxzTxmA; 161pjNJ7jfUkJcAEB8sg26Na868FxzTxmA
Thanks

geosac; 3; 0.45; 0ea09f8fc9c7e0f898e9729c0057eeb7fcfcc7b78848ef41c7dca3d9d04caafa; 1E9vjjCMByCUmKHx4g8MSq421giReFi3t7; 1E9vjjCMByCUmKHx4g8MSq421giReFi3t7

due to the lack of serious interest, I'm refunding payments and closing this thread...
it was worth a try, but this isn't going to work. sorry folks!!