Bitcoin Forum

The Drillbit Board is a modular mining board that can be stacked together for expandability. Each board contains 8 Bitfury chips each with a proven hash rate of up to 2.7 GH/s with overclocking and sufficient cooling. This brings the total potential hashrate of a fully stacked Drillbit Board to 21.6 GH/s per board. Orders of 4 or more boards come with a free miniplane which can take up to for boards.

The Drilbit board is part of an almost completed Group Buy of a reel of Bitfury Chips due for delivery in October. Upon receipt of the chips, we anticipate approximately 3 weeks for fabrication and manufacture which would mean these will be delivered late october / early november if we do indeed receive the chips when promised. As with all things Bitcoin, we don't have control over this bit, so the chips may arrive late. If they do, there's nothing we can do, but currently its feeling like everything is on track for October delivery.

You can find all the details you need, including photos and specs for the Drillbit System here:

https://bitcointalk.org/index.php?topic=266235.0

• This auction is for completed Drillbit Boards. Each one is a standalone miner, but can also be stacked for increased hashrates.
• Bidding will be done in $US, but payments may be paid in $US or BTC with an approipriate exchange rate to be determined at the completion of the auction. (currently ~$125 = 1 BTC)
• Bidding starts at $350 per board and can be raised in increments of $10.
• All bids are binding and final.
• The auction will last for 2 days

Happy bidding everyone.

Barntech

OK, so apparently you can't edit or delete auction posts, so here is the ticker:


 ;D

2 boards @ $350 each

1 board @ $350

4 @ us$350= us$1400
1400/125 = 11.2BTC

1 board @ $350

1 @ $350

Not sure why i can't edit posts here, but just wanted to add one more stipulation.

Bids of the same value are taken in order that they were placed. Eg an earlier bid of $350 trumps a later bid of $350. First in first served unless the price is raised.

As of now, 7 left.  :)

2 @ 360 each

Would like to up my # of boards from 2 to 4.

New bid is for 4 @ $350=$1400

Thx

1 @ $375 please.

1@ $360

4 boards @ $360.

2 boards @ $360 ea

2 at $365 each  :)

Sorry blonde moment

1 @ 380$ please.

Oops - make that 2 at $370

Thanks monkeynutts

Current standings: ... Winning bids are those above the line.  ::)

monkeynutts	1 @ $380
Stinky_Pete	2 @ $370
realestone	2 @ $360
Polyatomic	1 @ $360
Warhawk187	4 @ $360
Hephaist0s	2 @ $360
Choadmeyer	2 @ $350
voxelot	1 @ $350
BenTuras	1 @ $350

---

BenTuras	3 @ $350
picbb1	1 @ $350
m5	1 @ $350
Choadmeyer	2 @ $350

Thanks a bunch for the update Barntech, I was getting ready to ask who had the current winning bids etc etc


My updated bid:

4 x $360  = $1440

Thx!

4 @ $370

Current standings: ... Winning bids are those above the line.  ::) ... Will be away from the computer for a while . I'll update once i'm back.

monkeynutts	1 @ $380
Stinky_Pete	2 @ $370
fhh	4 @ $370
realestone	2 @ $360
Polyatomic	1 @ $360
Warhawk187	4 @ $360
Hephaist0s	2 @ $360

---

Choadmeyer	4 @ $360
voxelot	1 @ $350
BenTuras	4 @ $350
picbb1	1 @ $350
m5	1 @ $350

1 @ $370

2 @ $370

4@400

1 board @ $360

Are people not aware these are 2GH boards? What is going on...

Drillbit Board to 21.6 GH/s per board

1 @ $380

2 @ $380

I think these were a good option during the group buy phase @300 but not really worth more than 350 unless my calculations are wrong?  Wish I'd had ready funds avail last week :/

Best of luck for your project tho

Question, does each winner pay their actual bid, or do all winners pay the lowest winning bid?

1 @ $370

1 board for $380.

P.S. By the way, is it still possible to order fully assembled board without the chips?

Winners above the line. Each winner to pay their actual bid.  :)

alwayzgame	4 @ $400
monkeynutts	1 @ $380
simon66	1 @ $380
stringer	2 @ $380
Stinky_Pete	2 @ $370
fhh	4 @ $370
ampu	1 @ $370
r7970	1 @ $370

---

r7970	1 @ $370
picbb1	2 @ $370
realestone	2 @ $360
Polyatomic	1 @ $360
Warhawk187	4 @ $360
Hephaist0s	2 @ $360
Choadmeyer	4 @ $360
yunk3r	4 @ $360
voxelot	1 @ $350
BenTuras	4 @ $350
picbb1	1 @ $350
m5	1 @ $350

Winners above the line. Each winner to pay their actual bid.  :)

And yes, boards without the chips are available. I'll be pushing those a lot more soon. We will be getting those printed pretty soon.

alwayzgame	4 @ $400
monkeynutts	1 @ $380
simon66	1 @ $380
stringer	2 @ $380
Greeny	2 @ $380
Stinky_Pete	2 @ $370
fhh	4 @ $370
ampu	1 @ $370

---

r7970	1 @ $370
r7970	1 @ $370
picbb1	2 @ $370
realestone	2 @ $360
Polyatomic	1 @ $360
Warhawk187	4 @ $360
Hephaist0s	2 @ $360
Choadmeyer	4 @ $360
yunk3r	4 @ $360
voxelot	1 @ $350
BenTuras	4 @ $350
picbb1	1 @ $350
m5	1 @ $350

I asked for 1 (one) board, may be you mistyped?

Sorry Greeny. My mistake.

alwayzgame	4 @ $400
monkeynutts	1 @ $380
simon66	1 @ $380
stringer	2 @ $380
Greeny	1 @ $380
Stinky_Pete	2 @ $370
fhh	4 @ $370
ampu	1 @ $370

---

r7970	1 @ $370
r7970	1 @ $370
picbb1	2 @ $370
realestone	2 @ $360
Polyatomic	1 @ $360
Warhawk187	4 @ $360
Hephaist0s	2 @ $360
Choadmeyer	4 @ $360
yunk3r	4 @ $360
voxelot	1 @ $350
BenTuras	4 @ $350
picbb1	1 @ $350
m5	1 @ $350

update 1 @ $360

1 @ $400

update 1 @ $400

4 @ $410

Was fine @ $360, but any higher and assuming October delivery, well be lucky if these things even break even at that level considering the 30% diff jump every ~11 days.

+1  ASIC developers really need to re-think their pricing plans IMHO... I believe bitfury will ship on-time.. maybe they think they will be the only ASIC team.. and many of us agree.. that can ship on time and were like.. whoaa.. we can make a load money here =(

Current standings are here. We are potentially going to open this up to make some more boards available so stay tuned. Regarding prices and ASIC developers, Voxelot, i tend to agree with your sentiments. I will write a more detailed response in the main thread. In the meantime, happy bidding everyone. We're almost there.  ;D

Choadmeyer	4 @ $410
alwayzgame	4 @ $400
bcollan	1 @ $400
ampu	1 @ $400
monkeynutts	1 @ $380
simon66	1 @ $380
stringer	2 @ $380
Stinky_Pete	2 @ $370

---

fhh	4 @ $370
r7970	2 @ $370
picbb1	2 @ $370
realestone	2 @ $360
Polyatomic	1 @ $360
Warhawk187	4 @ $360
Hephaist0s	2 @ $360
yunk3r	4 @ $360
voxelot	1 @ $350
BenTuras	4 @ $350
picbb1	1 @ $350
m5	1 @ $350

Yeah the issue here is they're selling October products at August prices. We're paying a fantasy/pipe dream surcharge. As long as we continue to "bid" it up (Not a shot at this thread) they'll continue to make promises and pre-orders to play on speculation. The fact is thousands of usb eruptors sold for 10x their real value thanks to herds of newbie miners coming in and the fact that they actually delivered. Now the real value is coming to light sub $40 a piece (should sell for like $2 really). But this won't change ultimately by the time we get these chips (Oct or Nov) There will be a 5gh chip that sells for the same amount these sold for $25. The few that get in early make money and the others............ Pay for the few that got in early.... Ponzi scheme at it's best... But I, like the OP, do this for hobby and luv the thrill of the chase. So it is what it is. Love it or leave it I for one will wait for the "new and improve chip" and hope to get in early. I got a few of these at the initial price. But like i said before, the first few make the money and the last few make up for the first few. There's a price point that i can see these still making money (Reselling them) but I doubt it will be stay below that the way you guys are bidding these up.

As i said before not a shot at this thread or the OP. He's done a GREAT job and can only work with in the restraints of his suppliers. Just my take on the subject.

Agreed. A few good points there. Thanks for your input Neiq

Basically we are working with what we've got. Trust me, if we could get these out to you tomorrow we would. We are unfortunately entirely dependent on Bitfury getting chips to us. If the early October delivery comes true, there is a good chance that we may just be able to be some of the lucky few who get in early and actually make some money. As Neiq has said, that's how it works, a few people get units early enough to profit, everyone else chases the magical window and doesn't quite get there, or buys in (read block erupter USBs) without ever having a chance at ROI, just because its fun and exciting. Hell i have some of those; terrible investment, but their pretty cool. I also have a giant power munching 3 GH/s GPU rig costing me more than it makes, just because i like it and find it fun.

So i guess yeah, if your main motivation is a sound investment, you'd probably do better to buy shares in a bank or a mining company (as in iron ore mining, not bitcoin).... or, just buy some Bitcoin and hope the price jumps. But if you are excited about being a part of this crazy Bitcoin thing as it's springing into being, and are willing to take a gamble that may pay off, then get a miner, get ten. I too am in it for the thrill of the chase. I do it because i love it. Setting up this group buy and short run manufacture has basically become my unpaid full time job right now, and i'm not complaining, i chose to do it and i'm having fun doing it. If i was billing my hours spent however, i'd be down a whole lot of money.

On that topic, basically we have costed out manufacture that leaves us making very little money. This is not some giant money making venture for us. We would all make a lot more money just doing regular jobs. But that's not the point. There has been some talk about succumbing to the capitalist greed just like BFL and Avalon, who has basically rinsed people for millions of dollars. I find that comparison pretty rogue. In the end we are putting the final miners to auction to generate a bit of extra cash to help us see this project through smoothly. At most we'll end up with a couple grand extra, which could easily disappear into some unforeseen manufacture expense, or import duty or whatever. Hardly capitalist greed at its worst.

The miners are going to auction and people are paying what they are willing to pay. No one is being forced into anything. If you believe that $300 is a more reasonable price for the boards we are making, they were available at that price for weeks, the opportunity was there.

Ok, sorry for the long rant. I hope everyone feels happy and comfortable with things. Please send me a PM if you would like to have anything further explained or discussed.

Yours in Mine Love  ;D

Barntech

rise to 1@390 :)

1 @ $400

I just asked for 1 board not 4. I think you missed typed it.

Hey guys.

I have been crunching the numbers and we have decided to release another 16 8-chip Drillbit Boards to auction. We had initially set aside a certain amount for ourselves, but things are looking tight and the extra money may be necessary for the coming stages of the process. Soon we will need to be buying all the parts for the boards, getting the boards themselves made, and getting the boards assembled. Better to have a buffer zone of a bit of extra money than a few extra miners; we can't pay our manufacturing expenses with miners. (wouldn't it be nice if we could)

I wasn't sure what the fairer approach was between adding these to this auction that already exists, or making a separate auction, and in the end decided that adding them to the current one is the better way to go. This means that more of the people who have already bid on this auction will end up getting miners. So there are 32 miners up for grabs here. There are 15 hours left to go. If anyone else is keen, please place a bid if you like.

Once all the boards are done, we will be reopening orders of Drillbit Thumbs. It will be in a general format of x amount at the set rate of $99 and the final x amount at auction. I will update all the details before i open up the orders again.

So the current standings look like this with winning bids above the line (please correct me if i have mistyped your bid)

Choadmeyer	4 @ $410
alwayzgame	4 @ $400
bcollan	1 @ $400
ampu	1 @ $400
Datto	1 @ $400
Greeny	1 @ $390
monkeynutts	1 @ $380
simon66	1 @ $380
stringer	2 @ $380
Stinky_Pete	2 @ $370
fhh	4 @ $370
r7970	1 @ $370
r7970	1 @ $370
picbb1	2 @ $370
realestone	2 @ $360
Polyatomic	1 @ $360
Warhawk187	3 @ $360

---

Warhawk187	1 @ $360
Hephaist0s	2 @ $360
yunk3r	1 @ $360
voxelot	1 @ $350
BenTuras	4 @ $350
picbb1	1 @ $350
m5	1 @ $350

5 @ 370

Id like to increase my order to 2 @ $380 if at all possible. Just had some birthday money come through :)

Here's the latest. Going to bed now. Catch you all in a few hours  :)

Choadmeyer	4 @ $410
alwayzgame	4 @ $400
bcollan	1 @ $400
ampu	1 @ $400
Datto	1 @ $400
Greeny	1 @ $390
monkeynutts	1 @ $380
simon66	1 @ $380
stringer	2 @ $380
monkeynutts	1 @ $380
Stinky_Pete	2 @ $370
fhh	4 @ $370
r7970	1 @ $370
r7970	1 @ $370
picbb1	2 @ $370
pkarc	5 @ $370

---

realestone	2 @ $360
Polyatomic	1 @ $360
Warhawk187	4 @ $360
Hephaist0s	2 @ $360
yunk3r	1 @ $360
voxelot	1 @ $350
BenTuras	4 @ $350
picbb1	1 @ $350
m5	1 @ $350

1 @ $380

Update 2@390, if it is possible.

Put me down for 4 @ $400

Will get 5 @ 380

Information for potential bidders.

https://bitcointalk.org/index.php?topic=266235.msg3031569#msg3031569

IMO - he is running the show.. and can do what he feels best.. everyone had their opportunity to get in for weeks on the GB.

Would you rather him come back to the entire group and report issues and needed funds to cover the costs to continue or have the funds up front and available to get shit done and delivered sooner to everyone?

(quit shitting on his threads, there isn't a gun to anyone's head forcing them to bid....)

Hold on a minute.. Boards are not even in production yet?? Pfff... Excuse me. I am forced to withdraw my bid. Thread title clearly said - fully ASSEMBLED BITFURY Drillbit Boards.  Previously was pretty fed up with BFL preorders made way back in 2012 shipping just this month when Im not going to be able to make the money spent back. Cheers

OK here's where we're at.

Choadmeyer	4 @ $410
alwayzgame	4 @ $400
bcollan	1 @ $400
ampu	1 @ $400
Datto	1 @ $400
thegoldbug	4 @ $400
Greeny	2 @ $390
monkeynutts	1 @ $380
simon66	1 @ $380
stringer	2 @ $380
monkeynutts	1 @ $380
yunk3r	1 @ $380
Stinky_Pete	2 @ $370
fhh	4 @ $370
r7970	2 @ $370
picbb1	1 @ $370

---

picbb1	1 @ $370
pkarc	5 @ $370
realestone	2 @ $360
Polyatomic	1 @ $360
Warhawk187	4 @ $360
Hephaist0s	2 @ $360
voxelot	1 @ $350
BenTuras	4 @ $350
picbb1	1 @ $350
m5	1 @ $350

4 @ $380

"Fully Assembled" refers to the chips being installed for you on the Drillbit boards, rather than the chips coming on their own, for the buyer to solder onto the boards themselves. This is stated in the opening post of this thread, although perhaps using the word "pre-order" in the opening post would have made it crystal clear for everyone. :)

Yeah sorry that wasn't clear. It refers to an assembled miner rather than raw chips as flemeister has said. I figured most people bidding would have been following the thread where the stages of our progress have been laid out. I should have made it clearer though. These units are not in hand. We are waiting on chips from Bitfury set to arrive in October.

Cheers

Barntech

Hey Barn! Cool auction and thanks for the opportunity.
Real quick though, excuse my ignorance, but can we have a few more details on how we will handle payment/escrow? Are the proceedings the same as from the main thread?
-Can we use escrow (JohnK)?
-How big is the time window after the auction closes to make payment?
-Does this auction have shipping priority over the main thread?
-Are payments to be made in BTC only or can we use PayPal?
Thanks!

Yes the proceedings are the same as the main thread.
We are not doing escrow, but i have been verified by John K, and up until the money has actually been spent, you are always entitled to a refund.
The shipping policy is first come first served so these will be at the end of the queue. That said, there shouldn't be much of a delay between first and last package, as the boards will all be done as one batch.
Payments can be BTC or PAYPAL
Payment window is as soon as possible, but not super urgent, lets say two days.

 :D

Winners above the line.

Choadmeyer	4 @ $410
alwayzgame	4 @ $400
bcollan	1 @ $400
ampu	1 @ $400
Datto	1 @ $400
thegoldbug	4 @ $400
Greeny	2 @ $390
monkeynutts	1 @ $380
simon66	1 @ $380
stringer	2 @ $380
monkeynutts	1 @ $380
yunk3r	1 @ $380
beavertank	4 @ $380
fhh	4 @ $370
r7970	1 @ $370

---

r7970	1 @ $370
picbb1	2 @ $370
pkarc	5 @ $370
realestone	2 @ $360
Polyatomic	1 @ $360
Warhawk187	4 @ $360
Hephaist0s	2 @ $360
voxelot	1 @ $350
BenTuras	4 @ $350
picbb1	1 @ $350
m5	1 @ $350

You mean the auction is over?
As far as I can see the ticker is still running.
Can we still make bids?

This "auction" is outrageous.

16 boards are listed under the guise of limited availability and the bids skyrocket, then another 16 boards are suddenly available? How can you hold people to bids they made when the number of units suddenly doubles mid-auction and demand drops?

I'm sorry but I will not be sending payment for my boards as I feel the pricing & demand was manipulated. The additional boards should have been in a separate auction (you discussed this possibility but decided against it for whatever reason).

Fortunately, it looks like you have no shortage of other buyers.

He has been periodically updating the thread to show interested bidders who is still in winning position, who has been knocked out of winning position, and what the current price is. It's open for bids until the timer runs out.

Hey.

I know its odd adding more boards into an auction half way through. It seemed that because people had already bid, validating their bids was fairer than making them lose and then bid again on another auction. I do see your point entirely though which is why i posted about not being exactly sure what the right thing to do was. I honestly wasn't trying to manipulate prices. Just made a call on the extra 16 boards and decided to validate other peoples already made bids. Given you made your bid before the extras were added though, you are welcome to retract your bid and make a new one if you like, or just pull out. Either way, it is still the same boards, and bidding still secures you the same thing. Let me know what you would like to do. Only 45 mins or so left.

Barntech

Yep.

Still going till the ticker runs out.

Hey choadmeyer.

15 minutes left. I am currently taking your previous post as a cancelation of your bid, unless you speak up in the next 15 minutes.

Cheers

1 @ $380

7@380

Due to

1@390

7@390

Is that on top of your other two?

Ok Auctions over. Thanks everyone for bidding. No more bids thanks. Will put up the final winners in a sec.

7@380 if choadmeyer bid is canceled
Otherwise 7@390

Probably a wise decision.  Might be kind of hard to run an assembly company if you can't run an Auction.

 :P

Dude,

How did you become so disgruntled and spikey? I've been nothing but straight, honest and decent with you. I've answered all your questions and addressed every issue you have raised. Why do you insist on constantly giving me shit? If you don't like what i'm doing, then you don't have to be a part of it, but at least have the respect to not make snarky comments on forum threads that are otherwise decent and on the level.

OK here are the final winners. Thank you everyone for participating. Can you all please PM me with your preferred payment method (BTC or PAYPAL) and we can sort out payment. If i don't hear from you soon, i'll be in touch.

Cheers  ;D

alwayzgame	4 @ $400
bcollan	1 @ $400
ampu	1 @ $400
Datto	1 @ $400
thegoldbug	4 @ $400
Greeny	2 @ $390
Creatine One	1 @ $390
pkarc	7 @ $390
monkeynutts	2 @ $380
simon66	1 @ $380
stringer	2 @ $380
yunk3r	1 @ $380
beavertank	4 @ $380
picbb1	1 @ $380

Congrats to the winners who just donated around $7k in profit in the past 24 hours to Barntech for his assembly services that have technically not happened yet.  Of course it will be spent to ensure that your product is delivered on time.

Hi!

Just for the information - another company in Russia (which, by rumors is main investor in BF chip) gathered preorders for Sept-Oct in the beginning of the year. So, to wait just a few months is not a problem ;-)

Have a nice day.

I have money only for 1 board now

Cool perfect  :)

Barntech, please, check PM  ;)

PM sent

Guess I missed it  >:(

these all sold?

Man! Seems like I'm always a day late (and at least a few dollars short) :(