Bitcoin Forum

Update: Unfortunately we did not have enough interest in time and the units are already sold out. Also, I will not be pursuing this for the upcoming non-previous-customer Neptune orders.

I am an owner of a KNC Saturn unit and have access to pre-order a Neptune.
I do not have the capital to invest $10K+ in a unit right now, but I thought if there was enough interest I could use my pre-order access for a group buy.
I didn't see any other group buys with low price shares so I thought I would see the interest

KNC Neptune Stats:
Expected Hashrate: >3000 GH/S
Expected power usage: <2500W @ wall
Expected income: Do your own guesswork for expected income. I think with expected difficulty increases if KNC ships in Q1 we could potentially reach positive ROI within 3-12 weeks, and if they ship in Q2 then positive ROI by the end of the year. No guarantees, those are just wide estimates. With BTC price so volatile we could be millionaires or we could be broke by then, that's the fun of BTC.

How would our group buy work?

• 300 shares at $39 USD per share each entitled to 1/300th of the profit
• Payout once per week of (total btc - electricity costs @ 0.13$/KWH)/300 per share
• Buy as many shares as you want
• Mine somewhere with a publicly visible hashrate such as eligius or provide equivalent to shareholders such as the pool API key to view stats.
• Decommission unit after one year warranty expires or making less than $1 USD profit/share/week whichever comes later
• I won't charge any fee other than deduct electricity cost because I would just be buying some shares too
• If >80% of shareholders request refund before shipping we will attempt to refund the unit

Why join this group buy:

• Cheap shares, why not take a gamble?
• KNC is a trusted producer, has proved they are capable of creating cutting edge units in short time frames, and has previously over-exceeded expected unit performance. All of this means the delivery of the unit itself is of little risk and most likely will hash higher than 3 TH/s.
• I am an experienced miner and can manage the unit configuration and maintenance and investor payments efficiently. I ran a GPU farm for 2 years and now have a KNC Saturn @ 284GH/s in total mining over 1000BTC (if only I would have kept them until today <sigh>)

Payment:
I am not going to accept bitcoin until I can gauge interest. If you are interested in purchasing some shares, please post here or PM how many share you would like to reserve.
Once we have enough reserved, hopefully before the weekend, I will look at current BTC exchange rate post equivalent BTC price of $39USD on Bitstamp and give everybody a day or two to get BTC in and then make the purchase and provide all buyers access to order status number.

$39USD is approximately 0.04 BTC at current prices

And here is a picture of my pre-order screen for verification purposes:
http://imgur.com/BcpNtP2

I'll take 10 shares, though Im thinking about 20.

10 for sure.

bump  ::)

I'll take 5.

So $39 x 300 shares = 11,700
What happens to the extra ~$1500?

I'll take 5.

Morris

I'm taking 20 share

I will have to pay customs and taxes. We also don't know if we have to buy 2000W+ of power supplies yet either. It's nice to have some buffer. I am being open and up front about how much it costs so everyone can make their own decisions.

Put me down for 2 shares

sounds good. will take one if i will have some "spare change" after today

 In for 10! Keep us posted

Can I pay with a bank transfer?

FYI: If owner of groupbuy has not purchased and paid for the Neptune units already.  They have all sold out.  Only confirmed paid units are valid for batch 1 Neptunes.

Yeah, sorry everyone. Charles is correct. We didn't get enough interest in time to move on this. Good luck everyone on your future bitcoin endeavors.

I think I might open a group buy soon!

Electricity is cheap were I am and I got like 2.5k already to put into the group buy!

Send me a pm if anyone wants to partner up in a new group buy on a different miner!

Well since this group buy will not be moving forward, please consider my groupbuy on units that have been paid for:

https://bitcointalk.org/index.php?topic=347845.0

Thanks