Title: [OPEN AUCTION] HashFast Baby Jet Post by: ProfMac on August 16, 2013, 11:02:05 PM HashFast announced the 1st engineering run of their Baby Jet for Oct 20-30 delivery in order of payment. (https://hashfast.com/shop/babyjet/) The cost is $5,600, the power draw is 350 W, and the hashrate is 400 GH/s, next day shipping is approximately $200. This is a limited production of 550 devices, and they are steadily selling. At least
This pricepoint is similar to buying 5 Avalon 3 module systems at a cost of $1,120 each, with a credit for 2,900 W of electricity. There is a lot of skepticism about pre-pay for systems at this time, and if you are a noobie who dreams of getting rich, I want to strongly discourage you from getting involved in my purchase. I absolutely do not want to minimize the risk, and if HashFast takes the money and produces nothing I can not make it good for you. Many ventures are promising to bring high hash rates online, and this will strongly dilute the earnings of everyone. I am certain that the earnings, priced in BTC, will fall steadily. It may fall so fast that this unit never earns as many BTC as it costs. That is, it fails to achieve break-even. At least two fixed price group buys are open. https://bitcointalk.org/index.php?topic=270853.0 waldohoover https://bitcointalk.org/index.php?topic=274055.0 DyslexicZombei https://bitcointalk.org/index.php?topic=274249.0 Moogle https://bitcointalk.org/index.php?topic=274798.0 I'm willing to collect money, administer the unit, and make the payouts. I did this with a Batch #2 Avalon, and the hash rate (http://eligius.st/~wizkid057/newstats/userstats.php/18bLcVkviErQi75zB8X39jZXxHNpSZggdC) as well as the payouts (http://V) are visible to the public. I offer 512 shares in a bitchain auction for 100% of the net output of 1 Baby Jet. You may check my previous auction (https://bitcointalk.org/index.php?topic=159214.0) and see that I did return losing bids.
I will stand ready to receive the machine, plug it in, and follow the instructions that are provided. This is not a special skill, and you are not relying on any level of expertise on my part. I anticipate that many owners will attempt to overclock or modify their devices, and that firmware updates may be issued; these are not special skills within this community, and I may or may not do so. I will report publicly and factually the actions that I do take. In order to be qualified to bid, you must have these same skills to own and operate a Baby Jet yourself. I have plugged some numbers into a mining profit calculator (http://btcinvest.net/bitcoin-mining-profit-calculator.php?diff=37392766&dcosts=5600&diff_mincrease=45&blpbtc=25&dhsmhs=400000&btcusd_mincrease=0&btcusd=96&dpowcon=350&dleadtime=18&pcost=0.085&calcweeks=75&action=calc). In particular, I moved the estimated delivery date to 2013/12/20. I made similar calculations back on February 18 when I bought my Avalon, and I am making significantly less than those calculations indicated. You should make plans that these calculations are wildly optimistic. I do not guarantee these numbers. I don't have any expertise in making any prediction on the future difficulty, or the future value of bitcoin. This calculator suggests that the Baby Jet will have an end of life the week of 2014/12/26. For purposes of this group-buy & auction, I declare that the Baby Jet has no value beginning 2014/12/26 and full ownership of it will be abandoned to me at that time. I may chose to declare this venture closed on or after 2014/12/26 with no additional discussion or obligations. I may re-furbish or otherwise change the Baby Jet, or leave it unchanged, and mine with it as my own private machine after ownership has been abandoned to me. Nonetheless, this calculator suggests that a Baby Jet could earn 92 bitcoins. A naive calculation gives each of the 512 shares a value of about 0.1796 BTC. The 1st 2.0 BTC mined by each Baby Jet will be paid to me for establishing this auction. I will deduct 0.10 BTC each week for electricity, internet, & housing. If other costs arise, I will document them and deduct them. One such cost would be any registration of bitcoin miners that is required by US, Minnesota, Texas, or other regulators. My administrative time is free for routine operations. When a Baby Jet is ordered, the corresponding auction proceeds become mine to do with as I choose. The mechanics of the auction:
I do this manually. It is tedious. And slow. This is an opportunity for a block-chain savvy programmer.
|