Bitcoin Forum

I have been mining BTC and other altcoins for over a year now. I'd like to open a part of my mining farm to beginners and newbies, since Bitmain stopped selling Antminer S1. Currently, I have 1.1+ THs open for the group buy; This represents about 6 Antminer S1's, some are overclocked at 375 or 382, and some are stock.

Terms:

1. 0.275 BTC for 1 Share of 100 GH/s,
2. Available Shares are 11 Total,
3. Management fee of 2.5% includes ALL expenses, including but not limited to hosting and electricity,
4. Duration is for 12 Months from date of payment,
5. Payout will be weekly on a Saturday,
6. Mining pool and other decision is at the discretion of the Organizer, namely me.

Send payment to:

186JJyvRQJKmyouxR8d4e5wKaHXBFHL7ws

PM with your payment tx id # and payout receive address; only use address you control.

Why should you trust me? I am a long time member of the forum and would like to keep my senior (soon to be hero!) member status. I'd like the group buy to eventually become a major mining group, so I will be re-investing and purchasing more miners as well as replacing old miners with more efficient ones. I have been a vitim of a scam (I'm looking at you, AvalonShenzhen!) and I know how much it hurts to be a victim. I also believe in karma.

I already have the miners and am mining. At this time, a share (100 GHs) will receive about 0.006 BTC DAILY, keep in mind that rising difficulty will eat into the profit every 11-12 days.

My management fee of 2.5% includes electricity and internet hosting and other maintenance costs. This fee will NOT increase, unlike some other group buys. I will NOT change the terms set above. I have a low-cost/almost-free electricity. However, as reliable as Southern California electricity is, in case of black outs and other natural disasters, I won't be able to reimburse for the lost hashing--but, in the last 10 years, there was only 2 service outages lasting more than 1 hour, and I don't foresee any long cuts in service.

Please ask any questions here or pm me.

User                       Paid                          Shares
--------------         -----------------     ------------------
bigwig456                0.275                     1  
pitrol                      0.275                     1
*                          $800                       5
**                        $640                       4
-----------------------------------------------------------
ALL                                                     11 Shares Paid / Reserved

I am reserving this post...

(Q) When does payout start?
(A) First payout will go out on June 21, 2014 around noon Pacific Time, and after that, every Saturday at around noon Pacific Time.

(Q) So, if I pay you tomorrow morning (Saturday June 14, 2014), do you send me a payout?
(A) Sorry but I must state that you'd have to wait a full WEEK before I send you a payout. If you send a payment today (Friday, June 13, 2014), then the earliest I can send you a payout is on Saturday, June 21 and your payment will include prorated portion, i.e., your payout will be for 8 days (June 21 - June 13 = 8 days).

I have changed my original post after re-calculation:

1. lowered price from 0.315 to 0.275 BTC,
2. changed the duration from 10 months to 12 months

These changes should help buyers.

I'd like 1 share please. How to send payment? Thanks.

Please read the original post; you can send me 0.275 BTC for 1 share to the folloing address:

186JJyvRQJKmyouxR8d4e5wKaHXBFHL7ws

After sending payment, post here or pm me with tx id # as proof that payment was made; also, post here or pm me your receiving address.

Okay, please reserve 1 share for me as I am gathering my btc. Thank you very much.

That's fine, I will reserve 1 share for Bigwig456. I will edit the original post to reflect the reservation.

I forgot that I am reserving 1 share for myself  ;D

9 Shares available!

Why reserve 1 share for you when the miner is yours ?

I want to have a stake in the group buy. I guess I don't have to. I don't know. Yes, the miners are mine but I have them on group buy. No pre-orders here. When you put the miners for group buy, do they still belong to you? I don't know. I guess it's a philosophical question. Anyway, I'm sticking to 11 shares, with 1 reservation for me and 1 reservation for bigwig, 9 shares available.

Ok, you are right. I am relinquishing my reserved share. 10 Shares available. Any other takers? Any feedback?

Iam interested for one share. Reserve one for me.

Ok, I will reserve 1 share for pitrol. Any other takers?

Payment done.

Payment received, your 1st payout will be Saturday, 06/21/2014 around noon, Pacific Time, payout will include 4 days of mining.

Good job james! I wanted to do that 2 month ago and get destroy by some mad miner  :P

Cheers! Hope everything will work fine.

Thank you, valkir!

Sorry to hear it didn't go well for you. There are some odd people here, like anywhere in the world. I am going to make this a successful venture and give back to the small, independent miners who share my hopes and dreams. A thousand mile journey starts with a single step, right?

bigwig,

Thank you! I have revised my original post. Your payout will start on June 21, 2014 at around noon and will include 4-days of mining.

Thanks, James!

Your group buy is the most cost effective one at this time. I wish I can buy more shares, maybe soon. Thanks again.

Sorry to hear about.

What was the reason of destroyed miners?

You have written some are overclocked.

Extrem low hw errors this settings.

option ‘freq_value’ ’5f05′
option ‘chip_freq’ ’393.75′
option ‘timeout’ ’36′

Thanks for the info. I will try it and see.

James

Hi James,

I have checkout 375 and 400, but there was much hws.
For me the best 393.

Hws lower as 0,1%

I control them with M's Ant (S1/S2) Monitor v2.0

https://bitcointalk.org/index.php?topic=596178.0

Works good and its free.

Pit

It's Friday and that means payout is tomorrow! According to online calculators, 100 GHs should be getting around 0.004 btc per day, so 0.004 btc x 4 days = 0.016 btc. Let's see if James can work some magic and get us a better profit since he has "almost-free" electricity.

What is the reason for his almost-free electricity?

I have a side-business and rented a space in a warehouse. Mining is a side-side-business for me, my landlord has noticed the electricity usage and since his rate is so low (being subsidized by state gov), he won't raise my rent, or you can say it's already included in the rent I pay him.

I will post pix later. And oh yeah, payout TODAY!

Payout #1
0.028012 BTC Sent!

[edit]Each to bigwig and pitrol[/edit]

Payout sent a little earlier than normal today (Saturday 10:45AM currently in California) because I have to go to my son's baseball camp. Happy weekend!

Hi Bigwig!

For your payout #1, I sent you (and to pitrol) 0.028012 BTC each. You were expecting 0.016 BTC and you got a bit more than that. Have a great weekend!

Only 4 shares are left. Selling like hot cakes. Don't be left behind.

Got it. Thanks.
Where are you mining?

I have pointed my antminers to a few different pools. I like to spread risks and hashrates around. And no, I will not change for any reason.

I was asking for the pools, because payout was very good. ;-)

I have also some miners and when I put them also on your pools, my payouts goes higher.

Where are you mining jamesc ??  ;D

All 11 shares have been either paid for or reserved at this time. Sorry!

I am pointing my miners to a few different pools like p2p, btcguild, eligius, ghash, slush, etc... I do load-balance on each antminer as well. I believe the fact that I have almost free electricity is a big factor in the profit margin. No, I will not disclose which antminer is pointed to which pool at which rate. You will have to pay me for that kind of proprietary info.

Wow, I was only expecting around 0.016 btc but James beat that, by alot! Thank you! I don't know he's done it. I can only hope that he works his magic going forward.

Hi James, if any slots open up (someone cancels, etc.) I am interested in purchasing 2 slots from you. Please PM me or if you don't mind chatting over Skype I would like to learn more about mining from you as well.

Cheers! :-)

James, if more slots open up, please reserve me 1 more share too!

Another excellent payout today! At this rate, I'm gonna ROI soon, how do you do it James? Are you going to open up more your mining farm for shares?

Next payout received.  :)