Bitcoin Forum

k, this is BFL we are talking and know how unreliable they are, but  wanted to raise the interest in doing a possible group buy for their 600GH/s Mining Card.

Firstly if the order is made quickly, I can use my 25% discount voucher. This means that the price with shipping comes down to around $3600, per device. This means that it works out at ~$6GH/s.

Current cost: $4680.00
Discount: -$1170.00
Price: $3510.00

This is not including shipping and running costs.

Anyway as it is BFL, and I have been through the experience of them delivering very late. I ordered a Single on June 26th and it did not arrive for over a year (Early August).

So if this was to happen, I'm suggesting shares should be either 5 or 10gh/s shares. This means 120 or 60 shares per device. So for 60 shares I'm suggesting that they should be prices at around 0.7BTC share, assuming that 1BTC = ~$100.

Note, I do not think they will deliver in Nov 2013. So make you calculations and thoughts on that. but I do think they will get them done on time or within their window this time.

BTW, I'm expecting a load of bad comments or reply's to this but.....

If I don't do this, someone can have the voucher off me.

Questions

• For how long will you be paying out shares?
  I will continue to pay out on the device, while it is working and is profitable. Once the device is unprofitable, it will be put up for sale and revenues from the sale shared evenly between shareholders.
  

I know it is very unlikely a single unit will be funded, but it seems like the discount can be applied to multiple cards. So it is open to more than 1 card.

Phil

So far people interested besides myself:

30/31 of 60 Shares.


I will take upto 20 shares (but for now a min of 10) if there are any left.

Phil

look into create a huge buy group and negotiate a price for 50 of them. They state they have a Institutional discount on 50 units

Well, that would be the cheapest cost / Gh but there is no way they deliver in December BEFORE their older deliveries are fulfilled.
Things are not looking good there.

reserve 2 shares.

Well it is still only a possible group buy, I would need around 40 shares interested before I ordered.

Phil

I would go 0.7/share assuming there are 60 shares.

So 0.7BTC would buy me 10Gh/s theoretically.

Assuming that BTC difficulty reaches 200,000,000 by the time this device comes out, I would still get a positive ROI within a month.

I'm interested in 3 or 4 shares.

Keep me posted :D

Also one question: For how long will you be paying out shares?

Hi, I´m interested in 3 shares.

Thanks

I think if the price of BTC remains above $110 price per share could come down even more.

Phil

I'm up for 2 shares.

I'm up for two.

Added you to the list.

Put me down for 5 or 6

Done

Put me down for 2 shares. Might get more later if available.

done

I think that if BTC stays at the $115-120 mark when we order, I think we can get costs down to around 0.6 per share. But we are going to have to rush, as I'm not sure when the discount runs out. And if it runs out it is the end of the group buy.

Phil

In reply to your answer:

Does "while it's profitable" mean that you will stop paying out shares once the cost of electricity becomes more expensive than mining?

And assuming you sell the device afterwards, would we, the investors, get a cut on the sale price of the card?

Yes, device will be sold and all shareholders receive their share of revenues received.

Updated initial post




Phil

Cool you can put me down for 4 shares.

If the price gets lowered to 0.6 per share, make it 5 :)

Last chance to see if there is any interest in people for last 10-20 shares.

Otherwise, will have to cancel.

Phil

With no further interest I'm closing this group buy.

Phil