Bitcoin Forum

Updates
2014-04-19 Group Buy on-hold until after Easter and outcome of larger group buy. [#19] (https://bitcointalk.org/index.php?topic=570864.msg6290129#msg6290129)
2014-04-15 Additional 5% discount offered to this group buy. [#2] (https://bitcointalk.org/index.php?topic=570864.msg6225777#msg6225777)
2014-04-15 Confirmed; Free direct shipping from vendor to individual shareholders. [#2] (https://bitcointalk.org/index.php?topic=570864.msg6225777#msg6225777)
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Summary
This is a group buy for the purchase of a single 3 x SP30 Farmer's choice deal from Spondoolies-Tech. Each of the 3 units will be equally purchased by all 3 shareholders. Each share is ~$6,300USD ~$6,000USD. There are no fees in this group buy.

Details
Spondoolies-Tech is offering a deal for 3 x SP30 Yukon - August Batch with the following payment options:

Presuming units cannot be shipped direct from vendor to 3 separate addresses; Units would be delivered to me in Sydney, Australia. I would then DHL the units to the other 2 shareholders ASAP. Delivery cost would be shared between all 3 Australian share holders. Countries other than Australia are not excluded from purchasing shares but delivery cost will have to be negotiated and agreed between all shareholders. See Delivery section.

Payment
Either BTC or AUD will be transferred to me in order the make the order. Spondoolies-tech offers BTC, USD or Eur payment options. These options are to be decided in the thread. My preference is to have all trades recorded on the Blockchain.
Update: I'd prefer full up front payment by all shareholders directly to Spondoolies-tech so I do not handle any of your funds.

Fees
I am not taking any fees to run this group buy nor will I take on any warranties or guarantees with product delivery times or h/w performance.

No. of Shares
3 and 1 of which is already taken by me :) so only 2 remaining. Each share = 1 SP30 Yukon device.

Share Value
I am opting for the 10% discount upfront payment option but am open to the other options and suggestions.
Running with option 3:
(($20,995USD - 10%) - 5%) / 3 = ~$6,000USD per share/device~$6,300USD per share/device

Motivation
It's a hobby of mine to mine Bitcoins (see http://imgur.com/a/mRbMZ) and,
I also sell mining h/w (see http://feedback.ebay.com.au/ws/eBayISAPI.dll?ViewFeedback2&userid=b4y50n&ftab=FeedbackAsSeller).
I try to make a profit, but all my Bitcoin mining ventures have not been profitable.
I cannot afford and will not pay $12kUSD for a SP30 (delivered in August). $6.3kUSD sounds like a better option.
Efficiency, efficiency, efficiency!! I need to maximise the THs I get from each Watt I use at home. I have a limit of 10amps per power point and if you want to stay in the game, you need more power efficient h/w. More BANG (THs) for the Buck (Watts). U get what I mean? ;)

Who Am I?
https://localbitcoins.com/accounts/profile/QuiveringGibbage/
http://bitcoin-otc.com/viewratingdetail.php?nick=QG
https://bitcointalk.org/index.php?action=trust;u=82435
https://blockchain.info/address/11QG11uNjtc8KjAQJHcKhdds5yT1JZAd8

Escrow
I don't see how this is possible, but I'll explore options if suggested.

Contact
11qg11 at gmail or on IRC on freenode in #bitcoin-aus channel.
I have a day job and will be at work Mon-Fri 6am to 6pm. We have a warehouse at work that can take deliveries. I can ship directly from my office warehouse to you on the same day it is received (so long as it's not too late for courier pick-up). See Delivery section.

Delivery
Each unit can be delivered FREE direct from the vendor to the each shareholder. No delays with re-shipping. Cost to be confirmed.

Cheers,
Jason 'QG' Soon
11QG11uNjtc8KjAQJHcKhdds5yT1JZAd8

We'll ship separately, one SP30 to each participant.
We'll give additional 5% discount since it's the first group buy and I'm in a good mood (Holiday)

Guy

Just wondering, would it be possible for one or more of these group buy units to be hosted, and if so what are the hosting fees ?

Awesome!! Thanks!!

OP updated :)

Cheers,
QG

Yes. Usual hosting fee's per our site. Note the terms of the "Farmer's choice":
2 Months free hosting or free shipping. Afterwards, 500$/month (it's 2.5KW system)

I'll reserve one. Could you also host that one for me? I would not like it shipped at the moment.

Farmer's choice come with 2 months of free hosting.

I can't see how this would be profitable.  By August the difficulty is going to be around five times what it is now maybe greater with all the hardware coming out.  This thing won't come close to making a return. Plus it's 2500 watts.  Ouch...

Actually, i'll reserve both of them that you haven't sold.

NICE :) How should we proceed? Do you have a preference with payment method? Min. time required to raise funds?

Some questions I've asked via email. I'm sure Guy doesn't mind me posting:

[QG] Will you be using a Bitcoin payment facilitator like BitPay? What is the
payment process if paying by BTC and how will the rate be calculated?
[Guy] We're using BitPay. BitPay fixed the rate for 15 minutes. They have
their own rate, close to BitStamp

[QG] Is escrow an option?
[Guy] No. If you feel uncomfortable with the payment term, you can select
the 40% route.

Cheers,
QG

Anyone else also interested, please do post or PM me :)

Somekindabitcoin,
My suggestion would be to both pay via BitPay at the same time. We have a 15min window to make payment to a single address, so we would have to be online at the same time. What city/timezone are in you? I'm in Sydney, Australia +10:00GMT

At some point, I would need to communicate your address to Spondoolies-Tech. If you prefer, I can get them to email you to get your address should you prefer not to share that info with me (presuming they will accommodate this method).

Cheers,
QG

At the moment, I have no bitcoin, but I have the cash. I'd go with the 40% option unless the 10% discount applies (if it isn't already applied because of the group buy).

I believe you can only pick one of the 3 options. So if you were to go with either 40% upfront option, we would have to pay $7978 (~$2,660USD each share) now and payment before delivery: $11,967 (~$3990USD each share). That's a total of $6,650.

If we do option 3, full upfront payment of ~$6,000USD each share up front, we save $650 per share.

There is the option to pay in USD or Eur. which I am open too. I'd assume we just get a SWIFT code and bank details to TT funds too. Tho this method could take over week to clear and presumably our positions in the que are not secured till funds have cleared.

It should be noted that it's Easter holidays and the banks here are not open/processing transactions this Friday or Monday (possible further delays).

Look forward to your feedback and anyone else who may be interested too.

Cheers,
QG

I should be ready within the next week or so. Doing the 40-60 option sounds great to me. So 2 miners for me which would be around 12 grand? Split into a 4800-7200 split (approx). I live in the U.S

EDIT: Will be dropping out of the group buy. Ended up buying an entire farmer's pack of 3 instead. Thank you.

Nice!! well, unfortunate for me, but nice you got a whole farmers pack :)

QG

Thanks. I was like ahh what the heck. Why not?

C'mon ladies and gents!! Step right up, we have 2 shares left and Spondoolies-Tech's August Farmers' packs arn't going to last!!


Cheers,
QG

Hey did you see the new and bigger group buy? It's an order for 1100 SP 30's. Right now, 197 of them have been ordered. If they reach over 250 by the 25th of April, they get to buy each one for 4,995 or 4,500 (if you have a receipt from any other company that sells bitcoin asics). You need 0.1 bitcoins per miner to reserve for one. This is just in the case if you haven't seen it.

heehe :)

I was the first to send them 0.1btc :) just hadn't updated this thread.

Do you get to go on the group buy? for cheaper rates? or you staying on your own order?

QG

I just had a feeling something better was about to happen, so I just waited. Now i'm going to end up probably getting 6 for a bit more than the price of 3! I'm so glad!

Group buy closed. See this for other group buy:

[Special Group Buy - Spondoolies-Tech SP30 pre-order] ***EASTER WEEK SALE***
https://bitcointalk.org/index.php?topic=575499.0

$4500/SP30 There's already over 250 commitments.

We need 700 commitments to get SP10 down to $3000.

Cheers,
QG