Bitcoin Forum

Offer
Described in 2nd post (https://bitcointalk.org/index.php?topic=883986.msg9751547#msg9751547).

Updates
2014-12-05: offer opened (https://bitcointalk.org/index.php?topic=883986.msg9751547#msg9751547)
2014-12-10: IPO opened, offer closed

About
After small-scale and hobbyist Bitcoin mining essentially died in 2014, AMHash today is offering one of the most competitive cloud mining service. With the IPO of the 3rd tranche (AMHash3) the issuer offers a 5% hashrate bonus on bulk sales of 100TH+.

This group buy is meant to pool smaller IPO orders together to reach those volumes required for the bonus. The paid-out bonus is split to 3% for the buyer and 2% for the organizer. Transaction fees and potential fees required to distribute shares to buyers' Havelock accounts are paid from organizer's income.

Note: AMHash offers direct bulk orders with an additional 1% bonus. At time of writing, it looks like shares would become direct ones, which won't be feasible for a group buy. If it turns out to be a viable option, bonus split will remain proportionally same, i.e. 3.6% to 2.4%.


Who
This offer is interesting for those of you who

• plan to participate in AMHash3 IPO
• want to buy at least 1TH
• can't afford to buy 50TH (you will get yourself 3% bonus at Havelock or even 4% if you order at AMHash directly)

How
Funds Collection
Funds are collected into one public address. Order quantities are multiples of 1TH.

To participate in this group buy

• ensure you send coins only from addresses you control - you must be able to address sign with your sending address
• pay 1.2BTC for each TH you want to order to 1amh3PN1oeU6PNaGFwp3ehw5HkLj3UVfY (blockchain (https://blockchain.info/address/1amh3PN1oeU6PNaGFwp3ehw5HkLj3UVfY))
• PM me with
  
  • the tx-id of your payment
  • one of the sending addresses you want your order to be assigned to (must be able to sign with, refunds or pending dividends would go there)
  • the email address you registered at Havelock (for share transfer)

Share Distribution
When the IPO window opens, I will spend collected funds to order AMHash3 shares. As soon as they are booked into my account, I'll transfer them to the accounts associated with the email address you provided above. For each 1.2BTC you participated with, you will receive 1030 shares.

Since Havelock puts this fat red warning to the asset transfer form
I refuse to take responsibility for shares sent to invalid accounts. Please very carefully ensure you give the correct email address.

If between share acquisition and share distribution dividends are paid, they are accumulated and paid in full once after the transfer of shares is complete.


Guarantee of Execution
I guarantee that every payment received entitles you for the bonus announced. That is, as long as the IPO is successfull, there is no option for me to cancel the group buy and refund you the paid coins. To ensure my capability to do so, I am forerunning with 50TH (first payment to above address) and reserved coins for an additional 50TH. At the end of the fund collection phase, at my sole discretion I will either add more funds to fill up the last 100TH order, or reduce my shares exceeding the last 100TH order.

Cancellation
All payments are final, i.e. not refundable. The only exceptions to this rule is a failure of the AMHash3 IPO in general, failure of the Havelock service, or force majeure.

If cancellation happens while coins are under my control (i.e. still on the address given), all payments will be refunded in full. If cancellation happens outside my control, the responsibility is shifted to the party in charge (Havelock, AMHash, God ;)).


Disclaimer
While I am an Asicminer board member, I am organizing this group buy as independent investor without endorsement or backing from AM. You should be aware of the mining economy and the difficult to predict ROI in the mining business in general. By participating in this group buy, you agree that your decision to invest in AMHash3 was done solely based on your own profitability estimations and independent of this offer. You furthermore accept that this group buy has no control or influence on the IPO

Aside from the formal blabla: use common sense and a healthy portion of fairness.

I think you'll have more luck if you post in one of the "services" sub-forums like the other cloud mining services or the "mining > group buy" sub-forum (though the mods might move it from there).

U might like to move it to here => https://bitcointalk.org/index.php?board=137.0

In fact, I thought about it, but this is not a mining-HW group buy. The best place would be a group-buy sub-forum in the securities section - which so far does not exist. Mods might move it to a better place they see fit.

I am not sure if there is an interest at all, since adding an additional risk layer to make 3% does not look favorable. Saw someone suggesting it in the AMHash thread and thought: why not? No harm done if I delete it after 5 days of disinterest.


Thanks for feedback.

So, you want to put into effect my idea:
https://bitcointalk.org/index.php?topic=833704.msg9735841#msg9735841

GREAT, but 2% of a fee is too much. I suggest 1TH fee, more interest you get more for your customers and thus more chance to success. And maybe some reinvestment option? Those 3% extra (I suggest more) reinvest to buy more AMHASH1 shares. This way you will be able to pay more and more (compared to AMHASH1) to "investors" thru time.
Short story, if you do that I'm all in. That's something around 0.05 BTC ;)

Look, I gave you already credit for your idea here:


What you describe (with the reinvestment option) is more a pass-through operation than a group buy. This is meant to be a pooled IPO order, i.e. the deal is over once the shares moved into the buyers' Havelock accounts.

As for the fee: I did similar group-buys last year and know how hard-earned the money is. I believe at 2% there is a slim chance to cover external fees and trouble, below that is charity. If you believe it is doable for less, I would gladly hand the thread over to you. What do you think?

I would not begrudge a 2% fee for the work, costs and risk.
Is this a real thing now or are you waiting for the launch?

How about performing a group buy on cloudmining.website ?

Well, I know, anonymous, probable Ponzi etc. etc. But, u cant deny the fact that they are the cheapest by far and the output per Ghs after all deduction is still better than AM hash.

I can see u have a good reputation. So, u might be the escrow. Just asking...

Launched and alive. If any funds (above my own 60 coins) are collected before the IPO window opens, it will be executed and the given guarantee becomes active.



No, I am not interested in deals I do not fully understand. As a former large-scale miner I understand that the AMHash offer is as good as possible (if you do not have free electricity) - any better conditions or higher profitability numbers smell fishy imho.

This makes absolutely no sense.  Of course ponzi sites will have good payouts....


zefir - I'm interested in a small buy.  1 - 5 Th/s.  Payouts from mining on AMHash3 will start once you buy or once IPO closes?

Payouts will be accumulated and paid out proportionally to buyers in full when share transfer is done, i.e. payments become effective immediately after shares acquisition.

Noticed the bonus for 100 TH has gone up to 6% if bought direct from AMHash.
Which means if this GB gets to 100 we get 4%!

https://i.imgur.com/wgbn9Gj.jpg

Thats what I meant in the offer OP with:

But seems that it will take until the IPO closes before direct shares can be transferred to Havelock, which I consider not desirable for a group-buy.

Why do you think it take until the IPO closes?

That's how I interpret the wording, but have no definite confirmation. AMHash3 shares are converted to AMHash1 at end of IPO, which for direct shares seems reasonable to be done in one single step to prevent extra fees (direct->AMH3@HL->AMH1@HL). I might be wrong here, but would not like to risk buyers to have to wait weeks for their shares.

It appears the IPO starts at 11 am Eastern time.  Is that correct?

Yes, that's what is displayed for IPO opening as Havelock server time (which should be UTC-0500).

Just received the IPO opening mail from HL, with that this group-buy offer is closed.