Bitcoin Forum

I am moving on to other areas of Bitcoin and out of mining so I now have some rev3 BFL singles for sale.

https://i.imgur.com/vXrL7.jpg?1

https://i.imgur.com/2YuSD.jpg?1

I would like to get these sold as soon as I can to free up some capital.  Why wait for BFL?  These come from the East Coast US and can be shipped the next day.

If you buy the whole lot I will throw in my 10-port powered usb hub and a free set of my custom power cables designed to your specs!  ;D  Grow your mining operation today!!


Details: I have 11 units up for grabs. They run at 832MH/s or higher in my setup.  Price is 175BTC now 170BTC each. The price includes shipping to the USA only. All serious offers please PM.
Escrow is OK! Any questions feel free to post here.

I understand that there is a price premium but I have my reasons.  The best part for you would be the new trade up offered by BFL to get ASICs when they release them!


Edit 6/9/2012 - Sale is Final

Would you consider shipping to the UK? If so how much extra?

Interested in whole bundle at your asking price.

I have no problem paying for being impatient.

PM'd you.

You shoulda set the prices higher lol. BFL singles are a hot topic around here.

It seems like it but that was not really my intent.  Actually I do have a new in box ASUS mini-itx board/cpu that I was going to use for the host system now available too.

Will do $120 in Bitcoin for it. :D

At this point in time I would prefer to keep it within the US to avoid any customs issues that might arise from trying to get around VAT or whatever else.

Maybe if there is a lack of interest domestically and I can get rid of the whole lot by going international I will change my mind.

Due to the recent exchange rate increases I am lowering my price of these units to 170BTC each. OP has been edited.

Why not trade them in for BFL's new ASIC miners :)?

Well, we really don't know when that will materialize and I think it pretty risky to have single purpose hardware that could possibly become useless even if Bitcoin survives.

The real reason though is I need capital for some other opportunities and this was the only way I could do that.  Sucks, but we all work toward the future. :)

Yeh, I understand exactly what you mean. In this case at least these singles can be re-purposed, ASIC miners cannot.


I hope you sell them quickly! You're a cool guy to deal with and I can vouch for you.

You expect someone to pay $928 USD (@5.46 USD/BTC) for something that costs $600? That is outrageous. Premium or not, shipping times have dropped dramatically, and I suggest you rethink your price.

orly

I wouldnt say it dropped.. its going back up. They have back ordered parts once again.

shipping time is still 60 days +. these 8 units will produce ~3.3BTC day(at a crappy 95% pool), 198BTC over 60 days @ ~$1,079 at current exchange rate. There are other things to consider as well, but those vary buyer to buyer...

That number is even bigger considering there are 11 units for sale. ;)

It'll cost ~ (( 633 * 8 ) / 5.4 )) 940BTC to buy 8 singles from BFL. It'll cost ( 170 * 8 ) 1360BTC to buy 8 from him. That 198BTC doesn't cover the 420BTC difference. Other people have said this before - if there's more than ~25BTC premium per unit, you're better off buying from BFL.

I've done the math twice now and I still only get a premium of 170BTC for the 8 units example which is less than 15%.  Not sure where your numbers come from and a sub 2% premium is not even worth the effort of shipping.

Side note: the BFL delivery schedule is currently not 60 days, its more like 67 and climbing because of the enclosure back order. 

Regardless, some may wish to deal and some may not and that is ok by me. :)

I want these so bad LOL

YGPM

Didn't check all your math but your right. Its not worth paying more then a 25BTC premium per unit. Its cheaper to buy singles from BFL and wait, youll make your money back faster.

If you buy them directly from BFL (at $599 not counting shipping) you'll have all of them paid in 5.8 months. If you buy them from the seller you'll pay them off in 9.0 months. Btw, it's 6.9 BTC per day. I guess one can gamble on the exchange rate increasing to make up for  the price premium :p

Bump,
good luck ,man :D :D :D

or one could gamble on BFL taking longer than the 66 days your math shows is needed to be profitable buying one for a premium. It is possible they have more delays. Is also possible they have no more delays but cancel the singles before too long. ;p

cheers

What the hell are you smoking? 

If you buy a single direct from BFL, you first must wait AT LEAST 50 days for delivery.  Then you get to start paying it back.  Assuming difficulty of 1,600,000.....a single will yield $2.88 per day.  $599/$2.88 = 208 days.  Add in the 50 days you spent waiting for the damn thing, and your payback period is 258 days.  258/30 = 8.6.

8.6 months is your payback on buying them direct from BFL.  AND THAT IS ASSUMING BEST CASE ON THE SHIPPING TIME. 

basic math is tough around here. 

and that is assuming the exchange rate and difficulty are constant.

You could very well be making 1/2 of what you do NOW 7 months in the future.  Mining NOW will yield more BTC rather than starting later.  (unless difficulty drops than this is void)

I just want to state that this is not some sort of get rich quick scheme for me but a definitive move to liquidate my hardware holdings, patiently.  The amounts in this deal don't really classify as rich anyway if you've talked to the real players around here. :)

I would like to point out that there are two ways to look at my 'premium'. One is to look at the price differential at the time of purchase to BFL which would yield 45%. The other is after the questionable delivery date from BFL which yields a premium up to 22% at say 50 days to be generous.

I have only ever looked at this deal from the latter viewpoint as the former is a very shortsighted view. This 'premium' in essence can be classified as a sales tax and similar to Europe's VAT.

Another point in my consideration is the ability of the purchaser to trade in the singles for ASICs down the line when necessary. This ability has a value in and of itself and I believe a highly regarded one considering Bitcoins future.

Finally comes the 800lb gorilla and that is what did your Bitcoin hoard actually cost you to generate? I am fairly certain that it wasn't current market rates which they are always religiously compared to. I never consider my mined Bitcoins to be worth more than I paid to make them and I am happier for it (stress is a killer people). ;D

I think I have made my thought processes clear on this matter and I will say no more. Thanks for understanding.

At this point as before please PM your offer if interested and feel free to keep discussing the matter here.

I'll buy two if you can give them to me at a reasonable price.

I am still trying to figure out a way to get these!!!

I don't want to wait a year for BFL!!!

I was bidding on these, but he claimed to have a higher bid.  I'm waiting to see who won or if I was secretly being gamed.

Cablez is straight up legit.....you won't find a more straight forward guy. 

I highly doubt he is trying to game anyone.  Just FWIW......

Fair enough.  I'll strike my second comment.

In all honesty imsaguy, you are still in the running for these.

This is being a most difficult sale to make considering the breadth of offers I have to sift through.  They generally fall into three camps: you have the lowballers, those without direct funds, and those without BTC.

The range of offer types is staggering, things I would not have thought of to trade are being offered in lieu of BTC. (thank goodness no kidneys) ;)  Offers do drop out as well so the high person today may not be high person tomorrow. Currently I am waiting on one serious finalized offer from someone and then hopefully I can put this to rest.

So to all people interested I apologize for any perceived delays but I am working as diligently as I can on this when I have free time. Thanks.

Well, as I stated originally, my offer was based on me receiving these on June 8, 2012.  That is going to be pretty hard to accomplish at this point.

I have btc and I wont lowball you. Just give me a fair price on 2 of them and I'll send the coins today.

@imsaguy - Ah, I see now.  Would you like me to take your offer completely off the table then?

@lolwut - At this point I would like to finish up getting the final offers for the whole lot.  If this sale doesn't pan out then I will consider doing this piecemeal and get back to you.  Thanks

I won't ask Cablez so its not conflict of interest and he isn't violating anyone's trust...

who else is bidding on these?

I'm bidding as well, but not raw BTC

I'm willing to pay 140btc/per, but I don't want to wait until next week for a decision.  The whole point of paying the premium is that there is no wait.  Otherwise, I'd just send my btc to bfl and get in line.  As it is, I've lost 3 days to this.

I've talked with lolwut and he's combining his bid with mine.

I approve.

Hello imsaguy and lolwut.  I have read your offer and thank you for your interest.  There are two gentlemen who have said they would get back to me with final offers so I would like to wait until they have spoken.

It is past 2PM here anyway and USPS is closed so I cannot possibly ship out today anymore. The earliest now would be Monday morning.


This sale was never intended to be some kind of auction.  My thoughts were to come close to 1$/Mh as that is still cheaper than most FPGA offerings being sold currently aside from waiting for BFL itself.
This weeks exchange rate drama was completely unexpected and has worked against me the entire time.  I will try to wrap this up as efficiently as I can.

Are the units sold or still 'pending'?

any update for us?

Sorry for the quietness guys. :)  I have shipped out the units to their new home and await final the payment when they get there.  I assume that is still considered pending as the deal is incomplete?

I think you've wasted enough of our time, feel free to close this thread.

Yeah, sorry lolwut, he sent me a pm yesterday saying there was a higher offer and i immediately discarded this thread from my mind as a giant waste of time.  I should have said something to you.

And there was a higher offer which is where they are going right now.  You guys must realize that 140-150BTC per single is just not going to cut it for such a difficult to acquire piece of kit. Look at the raspberry pi as another example. Scarcity costs more. BFL is not making it easy on you that's for sure.  Just for the record after all of this I didn't get the price I was shooting for either.

Tracking number was sent to counter party. Should have it by Thursday. :) Thanks again.