Bitcoin Forum

Hashfast sold out of their Babyjet today , 9-2-2013.

I am sorry for the disappointment.






The original post was as follows:



Cart Subtotal                                 $5,600.00
Next Day Air Early AM (UPS):                $115.61
CA Sales Tax                                       $500.12
Order Total                                  $6,215.73


* There are 20 out of 40 shares left available at BTC1.09 per 2.5% of the total, 100%. If Hashfast sells out of their first batch before then, then the money will be quickly refunded to the investors.
* At nominal speeds of 400 gh/s, each share would be worth around 10 gh/s. Our unit will be in a 24/7 air conditioned room running at the max safe overclock speed, which might be around 500 gh/s or more. Their website says, "Designed to be overclocked for greater performance – better than 500GH/s**"
* We will mine with the unit until it is no longer profitable -- at which time it will be sold on Ebay to the highest bidder and the profits will be divided among the investors, equally at 2.5% per share.
* You will get your investment return sent to your bitcoin address weekly with a receipt.
* There will be weekly pictures of the miner with a screenshot of its hashrate posted in the forum, weekly.
* There is no hosting fee for this group buy. I have my own shares that I get enough money.
* Message me if you want my personal information to assure trust.
* We have a guarantee from Hashfast that they will give us 1.6 th/s more hash or 50 gh/s per share if we do not make ROI in 90 days off of our unit.
* This is the only one groupbuy I am conducting, so I can manage it better than people with 5 or more group buys, which is common on here. Honestly, people trust them when they have 80-200+ people to keep satisfied.


* serraz is handling escrow to purchase our unit. He is renowned member of the litecoin community. He is an op on btc-e exchange chat. He owns and maintains give-me-coins bitcoin, litecoin, and feathercoin pool with kha0s. He setup an offline wallet at 17EqnQZtfDQYKGdPesPKRzg9pQp76tzLvs because blockchain.info wallets are not safe. Make your payment to that address; then, send a encrypted private message or email message with your bitcoin address signature saying that you paid.  BTC.02 is the price included in the BTC1.09 price to cover the escrow fees. He will refund the whole BTC1.09 if the group buy fails. To be fair I am also giving him .4btc extra that is separate from any of the shares for his troubles.

* If we do not make ROI in 90 days from shipment, then Hashfast will send us 1.6th/s more in chips. From my understanding, they ship the chips unassembled. Now, we have to work out what to do with the chips. For sure we will split the profits. We could invest it in using it for other hashfast machines or we could sell the chips by themselves. For putting the chips in use for other hashfast machines, we would have to make another commitment. However, for sure, we will split the profits if we sell the chips just by themselves to cover ROI. THEY ARE GUARANTEEING ROI!!!



******* There will be a webcam setup to watch the unit 24/7 that you can checkup anytime you want. It would be like the miner were in your own home, but it would be in your monitor webcam program viewer.

Please join this group buy. It is  good deal because Hashfast initiated a miner protection program guarantee that they give you a total of 1.6 th/s more hash if you do not make ROI in 90 days.

WE CAN MAKE LOTS OF MONEY ON THIS GROUP BUY. JOIN IT.

Why aren't you offering the shares of total hashing power, and offering fixed 10gh/s shares instead? It's much more fair to collect hosting expenses but offer real shares of profits that the machine produce.

You are right. I'll fix that. The price is now BTC 1.2 instead of BTC 1.3. I would refund money to that if anyone bought shares at BTC 1.3, but no one bought shares yet.

What do you think about an escrow? Have you arranged one?

Hi. I just now contacted John K. There will be escrow service if he contacts me back and agrees to do so. I will pay for the escrow fees. The escrow will be for the buying of the product. For managing the payouts of the product once we have it, I will be personally sending out the payouts.

I think John K is pretty busy these days, so I would like to go forward with the groupbuy without escrow until he does. Please at least reserve a share spot if you want one. You could pay now or when and if there is an escrow.

You should note that the miner guarantee says you will get up to 1.6Thash. If your unit is only just not profitable after 90 days they will not be sending you 4 extra units. If you get to the stage where they are sending 4 free units I am not sure if any of them would be profitable. I also note that these units appear to be in addition to the 550 already sold. That means at least 220Thash will be online before this order will be reviewed and mining. That is in baby jets alone.

Anyone know how many extra units were released for sale.

Quote from the HashFast checkout:


Currently on Mt.Gox:

https://www.google.com/search?q=6%2C215.73+%2F+136.18461 (https://www.google.com/search?q=6%2C215.73+%2F+136.18461)
= 45.64BTC

Soon group can buy the order with 1.1BTC each, you should place in some mechanism which will consider rise/fall of BTC before group is organized. Think of something, you are OP  :)

I think you are wrong about this, but I'm not sure. My understanding is that 1st batch is not already sold, site says:
https://hashfast.com/shop/babyjet/

So, 511 sold, 39 left if I understand correctly. I would not be interested in group buy headed to end October/November if there is no buyer protection, so getting in 1st batch is a priority. Things should be moving fast if there are enough people serious about this.

HashFast also states:
Another reason to do this over the weekend or it may be late. I'm still not sure if I'm in or not, but it seems to me there are not enough people interested.

Would you consider merging your GB with mine?

Hashfast didn't receive wire transfers from some orders so they released the 40 or so jets that never confirmed purchase.  I would agree that merging GB is a great option.

Great info. It's hard to follow HashFast main topic, too much replies.

The price is now BTC1.1 instead of BTC1.2
The total price    BTC44.12415498 . i'll pay the difference.

It looks like ltod would commit. Does anyone else want to commit to buying shares?

Great offer. To tell you the truth I'm currently on the edge between your offer and Burnin's:
https://bitcointalk.org/index.php?topic=283992.0
470EUR is 4.46BTC at the moment for 42Ghs with enormous chances that Burnin will raise that board to 80Ghs. Bitfury just delivered on time yesterday for hundreds of small buyers, see: https://bitcointalk.org/index.php?topic=250249.msg3043629#msg3043629

These two offers are by far best ones for small miners. I just may go for both, one share in your group buy and later one Burnin's board, it's wise not to put all eggs in one basket.

So - yes, you can count me in as committed under two conditions:
- Organize John K. or some other respected member as escort, I'll send 1.1BTC
- If we can not collect enough committed people before HashFast sells rest of batch #1 (35 left, see: https://hashfast.com/shop/babyjet/ (https://hashfast.com/shop/babyjet/)) money should be sent back immediately, no group buy for later HashFast offers without miner protection.

Good luck to everyone who want to grab this opportunity!

I agree itod, I think these group buys are a great idea.  Thanks for the link to burnin's new project.  ;D

Combine the fact that these companies have put a face and reputation on the line with refund policies and you already have a better deal than Avalon.

Also these beasts will be hosted open source by people like myself and bobsag3 and ur0pl and the list goes on... to help keep the network hash out of one big location like professional hosting.

No problem man, that's what the community is for  :)

Let's try to bring this group buy to success if we can, it would be a shame not to be able to organize in time.

I think I can get serraz to do escrow. He is an op of btc-e and co-owner of give-me-coins pool. I have to ask him, but he offered the other day. Maybe once I get him as escrow, many more people will join.

I have also been talking to SebastianJu from the Avalon group buys.  That whole mess has left a lot of people weary and tired I think but he always does good work and could hold funds for people and make orders.  Of course he does not know the OP so he can not guarantee any safety on what happens after the purchase is made.

Ultibit seems to putting together a coherent group buy collective for the lowest possible rates for fastest hash.

https://bitcointalk.org/index.php?topic=282645.0

i will think about doing escrow if theres enough interest in this. Altho the way OP was just talkign on my channel ill have to have a big think about it.

It is good to see people reasonably talking and considering.  I am open for any help that I can offer to any group buy on hosting any miner at no profit.  I want technology and freedom meow.

Question everything... I really do not want to help people get scammed.. or give all of these hopes of secure almost free hosting and then whoops.. ASIC dev screwed you again.

Agreed i like to try and do what i can for the community. Main reason  started my pools. My issues are al these asic companys offering deal that are to good to be true. The personality of the Person preforming the goup buy also has a impact on the group buys. usally if there offering a deal that would mean everyons loss is the same then i guess as long as your willing to accept the loss on your part its ok but thats up to each person.

I am trying to find the most open source and secure solution to these rigs.  I love your work on the pools.. really cool to go to your site and see 0% plastered everywhere.

I have been working with bobsag3 who will be living close to me.  He has teamed up with UltiBit Cointerra Group buys... this may be a direction the OP and others should consider... I plan to host anything I can for the community.

I am also considering starting a group buy for my facilities location where truly open source prices will be the hosting % fee.  (My Father's large facility so all of the fees are up to him.. i could just say they are gaming towers hogging his dual ISPs data and kWh but he has a PHD in CS and is privy to the network and willing to see his son work).

The fees will have to go back to 1% soon (gotta pay for servers :() i still think its fair tho. Appriciate your feedback on the website we spent alot of time on the pool. If you do decide to use us for hostign pleaase let me know and we can work out somethign to help your group or hosting area we are always looking for new ways to support what people want.

The BTC pool needs some love :D were still workign on new features to draw users :D

I think merging the group buys to accelerate the group buy completion is a good idea, if you can get it organized.

I will commit to 2 shares at 1.1BTC each (2.2BTC Total) under the same conditions mentioned by itod.

I will also require the organizers personal info (name, address, phone, scan of driver's license or passport), in case of fraud.
Thanks

+1

Have you guys seen Ultibits group buy? What would everyone here think about merging there?

https://bitcointalk.org/index.php?topic=282645.0

Seems very professional to me and I will be living two hours away from the host and have pledged my assistance to him.  I can also host myself if there is high enough demand.

I fear it's too late for any group buy targeting HashFast batch #1. Only 15 machines left:
https://hashfast.com/shop/babyjet/
They will almost certainly be sold this evening. People are moving too slow, and to be honest opening poster haven't exactly put this group buy into high gear, posting only once or twice a day.

I'm not a big fan of Cointerra's estimated shipping date, mid-December if I understood correctly. They are very low-risc, but you can probably get bigger reward with a bit more risk.

Too bad we can not organize one decent HashFast group buy/hosting.

I am with you on a babyjet.  That is the original gruop buy I wanted to start and SebastianJu was kind enough to answer my questions about starting one.  I agree though with only 15 left now it would probably be too late.  

We could organize a post perhaps have Sebastian hold funds till enough are gathered.. again this would probably take too long.. we seem to be the only two interested at this time, and I do not want to waist anyone else's time.

I trust Sebastian, he was extremely fair and professional with his six Avalon group buys. If you can get him to start this ASAP maybe there would be enough time, specially if he someone can grab one tonight and slowly sell shares after that. I'm committed to 1.1BTC for 1/40 right now as long as we are into HashFast batch #1. Maybe I'll take more shares later if this succeeds.

Edit:
Sorry ur0pl for hijacking this thread, but you're simply not here.

serraz will be home in 10 hours from now. We'll setup the escrow then. He is going to use an offline wallet because blockchain.info is not safe at the moment. Merging group buys is fine if we do not have enough to spread out between two or more.

I just want to say the way you communicate about your fees is enough for people's support.  I intend to do the same.  All fees are reserved for ISP and kWh costs.. actually trying to donate the dual ISPs for as long as possible. More importantly I want fees to be debated by the community for hosting.  The community and share holders get to decide fees.

good to see ur0pl posting again.. I am sorry as well for hijacking your posts and wish you the best of luck and I offer you my services if ever needed.

I have pledged to the ultibit cointerra and hope everything can be merged openly.

Regards!

This groupbuy is for 40 shares of a hashfast Babyjet. It is not for a cointerra unit. This groupbuy has conditions of having a weekly picture and weekly receipt as well as zero hosting fees, minus power costs. These are conditions that those other group buys do not meet. This groupbuy is for a hashfast unit, not a cointerra unit. If you want to merge group buys, then there will have to be weekly pictures and zero hosting fees and zero escrow fees. Again, this groupbuy is for a hashfast babyjet, not a cointerra unit. I personally do not believe in cointerra as a company.

I apologize for having it seem as though I am stealing buyers from this group.  

I pledge to contribute to your Baby Jet GB as well.  Much in the same fashion a pledge would be held by other GBs

I have pledged my assistance to others since I will be located close to them and it is only logical and aids trust.  I would do the same for you if logistics supplied such outputs.

Okay. I secured another buyer. We now have only 19 out of 40 shares left.

ur0pl, those weekly pictures are not something we are thrilled about. As far as I'm concerned you can do without them as long as the mining fees come in. Every other hosting has a 24/7 web camera pointing to the devices and streaming to http://www.ustream.tv/ or something. Since the hosting is free I'm not complaining, just to be honest with you. BTW, what are electricity rates at your place?

I will install a webcam for the mining unit. Los Angeles electricity rate comes at the bargain price of around .18-.20 cent per Kilowatt an hour. It happens in "Tiers" whereas the lowest tier is charged like .16 cents, and the highest Tier after you use all the lower and middle tier allowance is around .22 cents. I will be working to try to get a low income electricity plan in about a month or two, but even at that price of 15%-20% off, it would be around .16-.17cents on average per Kilowatt per hour. However, yes, I will install a webcam to compete with those other hosting places.

Okay, I have the escrow bitcoin address wallet from serraz. It is 17EqnQZtfDQYKGdPesPKRzg9pQp76tzLvs . That is his separate offline wallet address because blockchain.info wallets are not safe right now. After you buy a share by making payment, send me an encrypted message or email telling me that you paid for certain amount of shares. I made an agreement with him that there will be .02btc going to him per share. He will refund the whole entire BTC1.09 if the groupbuy fails. However, I told him he could keep an additional .4btc that I am paying out of my pocket and separate from that for his escrow handling troubles. There are only 19 out of 40 shares left to be sold before we can buy the Babyjet. We are sure to get enough ROI with bitcoin prices up so high recently.

Can we get serraz to confirm that he owns this bitcoin wallet address?

I'm looking forward to being a part of the this group buy.
Cheers

Sure. That is a good idea. I will ask him when he wakes up. I talk to him frequently on freenode and know him from there, so that is why he was okay to do this escrow. He lives in Australia, so it will be another 4-6 hours from now until he wakes up.

ur0pl please do this properly. It is not in your or our interest to do things like this. I thought you are going to get a hero member (not necessarily John K.) as an escrow, but if serraz is your choice it is OK with me.

1) It is not right that you post (unsigned) payment address instead of the escrow.

2) Neither you or him have stated that you have sent him your passport scan with full personal details, and that he may post that here in case of any dispute. Edit: sending him your photo holding the passport will also be a good idea.

3) Neither you or him have stated refund policy, i.e.: "Refunds will be given immediately at any time before payment to HashFast is completed without the need for group buyer to explain the reasons for it."

This is an example of usual escrow statement in a group buy topic:
https://bitcointalk.org/index.php?topic=238321.msg2532445#msg2532445
It has not have to be done to the point as John K. does, but would not hurt either. Please correct these formalities so we can proceed further. Thanks.

I'll quote your opening post in the next message for the reference.

As a side note:
ROI has nothing to do with BTC price, we invest BTC - we get back BTC, if it goes to 1.000US$ or goes back to 10US$ has nothing to do with it if we will profit or not.

I'm sorry. I just was unfamiliar with how to do things as this was my first group buy attempt. Unfortunately Hashfast has just today sold out of their Babyjet. I am sorry about the disappointment. I guess I started the group buy too late and should have started when they first opened shares

Sad news on the Baby Jets.  They are currently ranked the highest in ROI and you had a good idea with this group buy.

http://cointerra.com/product/terraminer-iv-2ths/?added-to-cart=18

We can still do group buys for these beasts.  Shipping later so they are ranked just below the baby jets.

I'm genuinely sorry to hear that they sold out before you could finish your GB. All is not lost however. You still have some choices if you want to press forward. Here's 3 I can think of:

1) You could *still* put an order in for a HF Baby Jet. Just because they're sold out doesn't mean they're really out as we've seen before. Even then, you could get lucky & score a chip at the edge of a wafer that they weren't expecting to be a viable chip

2) You could press forward and switch it over to KnC's new offering in the same price range, which is slightly cheaper then a HF unit albeit a few weeks later. You'd be able to finish a little faster IMO.

3) You could list your shares reserved here & attempt to merge it to someone else's GB that's doing 1 or 2.
https://bitcointalk.org/index.php?topic=286021.0

There could be better solutions but these are my glass half full recommendations.  :'(

It's OK ur0pl, we learn as we go. One train left the station, there will be others.

I was looking to start group buy myself since electricity costs in my country are extremely low (around 0.085US$/Kwh), but the customs import fee is the problem and can go high, not like in the USA. I have to check with some accountant exactly how high. It didn't make sense for USA appliance (HashFast), but some Bitfury offers seem to be worth going through all these if there is enough interest. They are the only company that delivered some ASIC in time as promised, and this particular option is the one I'm looking into:
http://www.bitfurystrikesback.com/product/400gh-miner-october-2013/ (http://www.bitfurystrikesback.com/product/400gh-miner-october-2013/)
The price in US$ is around 8.500 US$ which is much higher than HashFast, but early October delivery makes all the difference regarding the fact their 400Mhs miners are happily hashing all over Europe and where delivered to the day when promised (promised before September, delivered August 31th in quantity of hundreds, se that thread). Not to mention expected difficulty rise between their delivery date and Hashfast expected delivery which may compensate for the price difference. Let me know what you people think about all these.