Bitcoin Forum

UPDATE : The miner is left with still half the shares and we are so close to selling out! so we are know only looking for several more investors meaning : we now only have 5 shares left each share will be 0.55 btc ( That will give you around 10% of the miner )

TO INVEST : please send 0.55 btc per share to this address : 19NwDWsi6StD9Saewzw9RBPMKyaD4N1Trp
then pm me the transaction ID and your address!


For Investors : I am making a new post right now describing our situation and how great this project is going!
( REST OF THE THREAD BELOW! )



Hey guys so after a lot of thought I am going to be opening a group buy!
hope you decide to invest!

Terra Miner IV stats :
Expected Hashrate: >2000 GH/S
Expected income: All on the amount of shares you buy!

    -1950 shares at 2.9usd gives you 1/1950 of those 2th/s for just 3 dollars!
    -Payout once per week of (total btc - electricity costs @ 0.11$/KWH)/300 per share
    -there is no minimum or maximum amount of shares you can buy
    -Mine somewhere with a publicly visible hashrate such as eligius or provide equivalent to shareholders such as the pool API key to view stats.
    -Im not charging any fee like maintaining it except for electricity
    -If 50% of shareholders request a refund I will refund the unit

Reasons to join this group buy :

    -Really Cheep shares (Not much to risk at 2.9usd)
    -Cointerra are trusted and my friends have met some of the people running it. The terraminer is great for a group buy and has unbelievable specs and with a total of 1gh/s per 2.9usd share it is really worth the time


Payment:
-I am only accepting bitcoin atm but I am willing to accept others like paypal moving forward. I do have some money to put into this so if there are a lack of shares Ill just put more of my own money into it.

Send Bitcoins to this address : 19NwDWsi6StD9Saewzw9RBPMKyaD4N1Trp
Then send me a pm of the transaction then we will test to make sure its your btc address (thats how you buy your shares the fast way)


Contact :
- Easy and simple send me a pm of how many shares you want or comment below and Ill send you a pm

What I get out of it :
- I am already buying myself 50shares of the bat as of why there is only 1950 instead of 2000 shares and I will also be buying more shares if some do not sell

Thanks!

Reserved!

I'm interested in picking up some shares, but wanted to understand the expected delivery date a little better.  I've seen Jan 2014 as the date for preordered units, which are sold out.  Any idea how much longer past that new orders would be delivered?

Ive have access to the earliest pre-order
Which will be shipped around the month of march

I have pre-ordered tons of these shares in a butterfly labs operation which is 10 dollars a gh/s so Ill be using those that release in january to cover all share holders till the actual miner comes out.


In short : Share holders will get there 1gh/s per share in january using my own resources then we will be rotating to the miner and of my resources!

What are you planning on mining and what are you estimating as a ROI?

Mining Bitcoin!

I will also be willing to change to any other currency if its proven profitable and if 80% of the shareholders agree to move to that cryptocurrency

I am interested. You said 2.9usd per share, that is 0.002BTC according to http://www.preev.com (30/11/13 20:34 UK Time)??

Definitely reserve me for interest.  I have some important questions for you.

1. How can we trust you?  How do we know are money is entering a black hole?
2. How are you going to reasonably manager potentially over 1000 group buyers
2. What exactly are you going to charge for electricity?  How do we know we aren't being overcharged?
3. How long are you going to keep this miner running?
4. What about refunds?
5. Please explain in more detail about this buttefly labs deal.  I thought we were investing in a physical unit.

Sincerely,

Bill

sounds interesting. watching it.

For Bill I don't want to be rude but all that info is in the thread

and for cxboyminer
I believe you are right with the bitcoin price

Just updated a friend so you can have an instant sending method
Hope you all enjoy!

I might be interested.
I don't want to be rude but you didn't answer all bill's questions actually

90 shares were just put on hold
the buyer asked me the put them on his reserve

If he does not pay within the next week the shares will be back up for sale

shares left : 1860

Hi JTrain_51, 

If any of my post sounded snarky, please accept my apologies.  All of my comments (including this one) are meant in a friendly tone.  We are all posting in this thread because your proposal sounds interesting.  However, it's very important to keep in perspective that everyone that inputs into your group buy is giving you their own money.  The people who send you money have little realistic or timely recourse if the account is mismanaged (accidently or on purpose).  As such, it's very important from a customer service perspective to try to alleviate their concerns and directly respond to them. 

You have implied that I didn't read the OP properly.  However, perhaps I listed my questions because the original post still left some things unanswered.  For example, you stated "Cointerra are trusted and my friends have met some of the people running it."  I assume this means that we are to trust you, but I don't know Cointerra and I don't know your friends and I don't understand how that relates to your trustworthiness to handle our investments.

I note too that, you seemed to ignore thejaxx's question about expected ROI, which seems to me for an investment very appropriate.

Just my 0.000002 BTC.

Yes that is all very true
I would rather you pm me these questions I can easily respond to it via pm

I will try to work on my customer service!

Don't handle it by PM.. These are common questions that anyone seriously considering sending you money will ask.

Good point! but pm is way more direct and easy
===============


Update : 500 shares were claimed today
shares left : 1360

1st confirmed purchase of shares was today
A total of 200 shares were successfully purchased!

we still have 590 other shares claimed but not payed for ill update you on that status

still tones of shares left

Very True....
I thought pm would give me better contact with the person for more customer service!

Put me down for 50 shares, depending on when I have to pay... And it would be nice if you answered bill biscoe's questions point by point here on the forum so we can all see.

Thanks.

BTW I think mining PPC would be more profitable (though no one knows what the situation will be like when this thing finally gets hooked up), or just switching to the most profitable sha-256 coin automatically, CGwatcher can do that.

Agree with ^^^

Put me down for 10 shares @ 0.002BTC

typo?

Put me in for 10 shares @ 0.002BTC

But I still have questions :
When is the expected delivery date ? When the unit will be up and running ?
What is the expected ROI ?
How long will the unit be running ? What will happen when it's not profitable anymore ? Will you sell it and pay the shareholders ?
You say that you will payout once per week. What happen if the amount is not big enough for a weekly payout ?
What about railzand typo question ?

canna chris ( you may have already still need to go throw my pms )  I need you to send me a pm about those shares

here are bills questions :


Don't really know how to complete the first question
2. How are you going to reasonably manager potentially over 1000 group buyers? = There are around 1000 shares on hold 200 purchased it will most likely be 15 or so members which will be very easy to manage
2. What exactly are you going to charge for electricity?  How do we know we aren't being overcharged? = I will not charge electricity for the first month and post my pm all share holders my electrical bill without the miner and with the miner to divide the electricity cost among shares and myself
3. How long are you going to keep this miner running? =  I will keep it running as long as possible!
4. What about refunds? = If 50% of shareholders want refunds I will give them refunds or you can sell of your shares to someone else
5. Please explain in more detail about this buttefly labs deal.  I thought we were investing in a physical unit. = We are but the pre-order is not till march so I decided to use my own personal resources to get the operation going fast so shareholders can be getting there bitcoins early

Put me in for 10 shares @0.002BTC.

Put me in for 50 shares @ 0.002BTC

I'm out.

Please send me a pm
also I hope you mean 0.002 btc per share because 50 shares is alot more

How many shares are left?
How long is this for? Months? Years? Forever?
What pool would it be in?

Put me down for 100 shares at 0.002BTC per for a total of 0.2 BTC. I'll be in contact with you tonight after my daily payout.

Read the top of my thread Ill be looking at your pm now

Am i missing something where is the proof of purchase of the miner ? Is there an escrow ? OP really doesn't say more then there are 1950 shares for $2.9 each. Don't pm you.  ???

Im using the money from the shares to purchase the miner because I found someone with it for march
no escrow I haven't had to use one so far
Pm me about the shares Ill try to help as much as I can

Who is the person you are buying it from? I guess when I pay, what's the guarantee that we will get a payout and you not keeping it for yourself? Your fairly new just like me and this is all based on trust.

No offense to you or this board but you've gotta be more transparent with this. You have no feedback etc.... Just saying you "know" someone is not proof. Add to that that the miner is sold out and your backup is BFL which is probably the WORST backup you can have as they never deliver even newsletters on time  ::).

$2.90/ SHARE is a little to good to be true. I caution everyone to be careful.  I sent .15btc for a group buy $8.50/gh and that guy ran off with over $30K  >:( https://bitcointalk.org/index.php?topic=329674.0 (https://bitcointalk.org/index.php?topic=329674.0)

This smells fishy until you can freshen it up !!!!

Based on trust yes but I would not risk my account over this!
I have already gotten alot of buyers
so I hope people will trust me on this forum

Im sorry someone ran off with your money but 2.9usd per share is not odd at all.
there are 1950 shares at 2.9 per shares it pays for the miner ( I have .6btc into this already )

Didn't really want your apology just want more info. Never mind......

As i said before guys buy with caution  ;)

Can you tell us who has bought and how many shares that way we can verify. Thanks.

nhminer - 100 shares ( 100 more are reserved )
Tragter - 50 shares
dgirard - 100 shares
7bp - 200 shares

There are 550 shares on reserve for some members


Hope this helped

Will there be an email list or group that we will be apart of that way we can get notifications on payout for the week, any changes, or to relay messages between everyone?

I'll be creating a Skype chat and a email list so all shareholders can be updated

Let's see if I understand you correctly:

you said you bought enough shares on BFL to cover all share holders - that would mean you spent at least $19,500 (1950 shares x $10 per GH) on 1.95TH of cloud mining @ BFL.

Now, assuming a TerraMiner IV costs around $6000 - wouldn't it have been wiser to buy 3 TerraMiners (6TH) for that money ?

Am I missing something here ? ???

^^^^
What he asked.

I do appreciate your efforts though  8)

The bfl shares are just to give the shareholders some feed back and I spent 4k on them so  I won't have 2 terrahashes

ok, quick calculation again:

you spent 4k on shares @ BFL - that means you have 400 x 1GH shares covered.

now, let's add all the shares already purchased by the forum members:

nhminer - 100 shares ( 100 more are reserved )
Tragter - 50 shares
dgirard - 100 shares
7bp - 200 shares

so 100+50+100+200 = 450 shares. that means you're still missing 50 backup shares and that's not including the 550 shares on reserve and further share purchases by forum members!

quoting you: "Share holders will get there 1gh/s per share in january using my own resources" - highly unlikely IMO...

I'm starting to get a bad feeling about this group buy... :-\

JTrain ... can you give us an update on the Share count?

TIA

Am I missing something here?

before I pay my 500 shares, can you reply to the remarks above.
How many gh/s do you have for januari?

His silence says it all... :-X

If you can answer the above problems... i would be interested in buying some shares...

Just release my reserved shares. I'm going to pass and save up for a baby jet.

Hi, I have some cash stuck in Paypal, was wondering if you accepted paypal? if so i would like to get 172 shares ~ 500 USD

[UPDATE] :As you can see on the top of the thread I have updated the investment options for all new investors! ( This does not affect and previous investor

For Investors : I was not active on the forum for the past while and that is my fault
I have gotten have the funds needed to get the miner so we have half or 1000 shares left. I just updated the thread so we will have 5 or less people joining the group.

More Info : If we can not get the needed funds to receive the miner I am happy to pay for the remaining shares!

Can you verify that you got my transaction and PM?  Thanks...

Yes Ill send you a pm right away

Not to be an A$$ hole, but where are you getting $.11 Kwh electricity?

Oddly, I too have a March TerraMiner IV on order from CoinTerra.  (My order number is YF0810, Placed on November 25th)

I have also been thinking of selling shares and I even have a very good friend that owns 3 data centers about 5 hours from my house (Tier2, Tier3+, and a Tier4)
He said I could put the miner there for FREE, I just had to pay for power and cooling he estimated that to be about $.20Kwh.

That would basically get me redundant power and internet.

My problem is credibility (lack of "trust"), the March delivery date, and general "Hassle" of dealing with 1000 people.  I might be interested in selling shares of my machine, but it would be limited to maybe 100-300 total shares.

I think what some of the guys are hinting about is for you to post a copy of your sales invoice you should have received when you placed the order, or at least the "funds confirmation" message you should have got after you sent the wire (or BTC)

Good Luck
Woodser

Any news from this Groupbuy?

Any updates? Spreadsheet? :)

Any updates? Was this a scam?

In an earlier comment, I proposed selling shares in my TerraMinerIV

Purchased in the US and will be hosted and managed in the US.

Look here if interested:https://bitcointalk.org/index.php?topic=394941.msg4259742#msg4259742

Thanks
Woodser

Considering he hasn't updated the post and stopped responding for half a month, I'd say it's a scam.  It's still listed as open.  Hopefully nobody contributes further to it.

Yep i'm afraid it's a scam...

It was obvious there was trouble when he struggled or refuser to answer my basic questions

OP never responded to PMs. Can I have my 0.0675 btc back please?
http://blockexplorer.com/tx/b62ce41c3541bfe28ad2ebe839a2d2ca28f9b9996d88a79a77ed88dcd5e3b124#i68393791

He hasn't logged in since the end of December.  I'm afraid you won't be getting your money back.  Always best to check the references and see proof before making a purchase from someone on here.