Bitcoin Forum

Are you a newcomer to Cryptocurreny? Don't have enough BTC to pre-order an Asics Machine? Don't like taking such a huge risk?

Well... I have been in the bitcoin game but recently cashed out when it was $94/BTC. I only have 17 coins left. Assuming there will be another Batch for Avalon, I am looking for people to chip in. I will personally use my remaining 17 coins for this batch. I am looking for people similar to my situation (not enough BTC or don't want to take such a big risk).

Read the following terms carefully before investing with me. You are basically buying a piece of an Avalon ASIC that I will host myself for a small fee.

Why you should trust me? I have been around these forums and have a good standing with the community. I have traded over $15,000 worth of bitcoins (I can provide proof). With newer technology (ASICs) my graphics card miners don't seem to put a dent in the harder difficulty and I can no longer afford to rebuy my sold bitcoins to have enough for an ASICs machine so I'm sure most people are on the same boat.

Terms:

• Dividends will be payed monthly to the Bitcoin address you send your original investment with. (Make sure you can both send and receive Bitcoins from this address!!)
• Before dividends are divided up and payed, electricity costs (~.12 Kwh), a 3% hosting fee, and the pool's fee (yet to be determined) will be taken out of the net profits.
• Shipping costs will be taken out of the first dividend payment.
• Dividends will be paid proportionally according to each investors initial investment [investing 1 BTC in a 75 BTC ASIC gets you 1/75 of the profits (after subtracting electricity costs and a 3% hosting fee).]
• If there's not enough Bitcoins collected to buy an Avalon ASIC, then all funds will be immediately refunded to the address with which they were sent.
• If I collect enough funds for more than one Avalon, then I will purchase however many the group fund can afford.
• Any left over funds collected will be refunded to the last investors in line. Unfortunately, those investors left out will not receive any portion of dividends (for the amount they were refunded), but nonetheless will be refunded 100%.
• I will use this thread to keep investors updated for now, until a better solution is determined in the near future.

How to invest:

Please note: You do NOT have to send any BTC right now. I would prefer it if you send it a week before pre-order date (if any lol)

• Minimum investment is 1 Bitcoin
• Send your investment to (removed for now since we're just planning this)
• Reply with the Bitcoin address you are sending from and the total amount you are investing.
• I will confirm in the OP that you have payed and reserved your shares in the group buy.

People who are interested:

• 17 BTC - Me
• 10 BTC - rttnpig
• 1  BTC -Luckybit
• 5 BTC - dmo580
• 2 BTC - dazzle
• 2 BTC - rammy2k2
• 40 BTC - Rallye
• 2 BTC - haaning

Currently have enough for at least 1 Avalon! Going for 2 now!

Total:
79/75 BTC



copy and pasted some things from: https://bitcointalk.org/index.php?topic=157930.0 :P

Will Avalon making batch 4 ?

Most likely. I'm just preparing for the best case :)

Don't you think you may want to wait on this until Batch 4 is announced as a production?

Though I do fully believe they'll continue to make these, as the market calls for it.



Saw you address this while I was typing.

Best of luck buddy.

They where not even sure they would do batch 3.

ASICs is the new tech. When BTC first started, people were mining with CPU then switched to GPU, now ASICs. So yeah I think Avalon will continue to develop better ASICs mining machines. Why not right?

I think they wanna do other stuff, thats why they wanna sell the chips. decentralization, start it up and leave the battle for others.

True true but only time could tell :) let's hope for the best! I just know that everyone who don't have an ASICs machine, wants one! Like me!

Didn't even know there is an Avalon Batch #4 release for ASICs. I know they're the only company who successfully delivered ASICs to the public. Still one of Avalon's ASIC at 75BTC is very expensive at today's current prices. That won't stop people from buying them though and Avalon ASICs are hot and popular items to have despite the high power consumption.

10 BTC if they actually anounce batch 4

Avalon has stated that at this point, there is not Batch #4.  They are doing some private mining.   Being that you have your payment address on here, really raises RED FLAGS.   People around here are very cautious (or should be) about pre-ordering products that do not have even an official ship date.


BTC.02
Dalkore

Good idea. I will take off my address for now since we don't know anything yet :) just speculations right now I guess.

Okay 1BTC. Sounds like a good deal to me. What about the logistics?

I'm in for 5 BTC, but yes, need to know how this will work logistically

What do you mean by that? What you put in for the initial investment is what you get monthly. If you put in 5/75 you will get 5/75 of X BTC mined monthly.

People who are interested:

• 17 BTC - Me
• 10 BTC - rttnpig
• 1  BTC -Luckybit
• 5 BTC - dmo580

Total:
33/75 BTC

It's too early to raise this thread as Avalon still not officially announce it.
How do you know the price of batch #4 is still 75BTC?

Just lookin' for participants. Worst case scenario it will be more than 75BTC, let's say 100 then we already have people... or it won't be announced at all. Nothing to lose.

Count me in 2 btc

People who are interested:

• 17 BTC - Me
• 10 BTC - rttnpig
• 1  BTC -Luckybit
• 5 BTC - dmo580
• 2 BTC - dazzle

Total:
35/75 BTC

i'm in with 2 BTC too

People who are interested:

• 17 BTC - Me
• 10 BTC - rttnpig
• 1  BTC -Luckybit
• 5 BTC - dmo580
• 2 BTC - dazzle
• 2 BTC - rammy2k2
• 40 BTC - Rallye
• 2 BTC - haaning

Currently have enough for at least 1 Avalon! Going for 2 now!

Total:
79/75 BTC

Read this before even thinking about sending this guy anything.

http://hardforum.com/showthread.php?t=1684647

that OP looks quite familiar.

I wish people wouldn't copy me word for word like that...

I know, it was a good idea.  ;)

But still... I hope no one got scammed...

My thread: https://bitcointalk.org/index.php?topic=157930.0

https://bitcointalk.org/index.php?topic=157975.0
https://bitcointalk.org/index.php?topic=158995.0
https://bitcointalk.org/index.php?topic=158799.new
https://bitcointalk.org/index.php?topic=158033.0

EDIT: No offense ragingazn628, I was not calling you a scammer, more annoyed you kind of copied my post. Everyone should do their own due diligence when investing with forum members.

I thought the name looked familiar but wasn't sure.  I do frequent Anandtech and HardForums.  Yeah I would just shut the thread down at this point.

No harm was done. I didn't scam anyone. It was a miscomunication. Everything was fixed. I've got nothing to hide :)

How can you be expected to host a group buy when you're not sure how to check a wallet?

https://bitcointalk.org/index.php?topic=173502.0 (https://bitcointalk.org/index.php?topic=173502.0)

Don't bite off more than you can chew.  You never know what some of the forum members will do if you piss them off  :o

I've been using blockchain all this time.

I'll be sure not to piss anyone off ;)

Nice plan, but would be better to wait and see what Avalon does - as Darklore said - there will not be Avalon Batch #4 and that info is directly from Avalon.

Seems by now, Avalon miners are having a large percentage of whole computation power. If still no other competitior jump in, it will be highly possibility that they will not produce batch #4.

I'm in 40 btc if this is going to be released

Why would they stop making them? They have the production lines etc. paid for - they might as well keep making them as long as there are people willing to pay. They might have to reduce the price per unit a bit or something in the future, due to the lower return as the difficulty continues to ramp up or if we get new competition (hopefully!).

IMO the only thing would be is if they decided to stop production for a while to build a second generation - like a different technology node for the ASICs or tweaks for speed or power improvements. But if anything they can work on that concurrently while continuing to ship.

You do know there's not too many people working there right?  I'm sure everybody there is doing 2 or 3 jobs unlike BFL where they're doing 0.2 or 0.3 jobs per person   ;)

People who are interested:

• 17 BTC - Me
• 10 BTC - rttnpig
• 1  BTC -Luckybit
• 5 BTC - dmo580
• 2 BTC - dazzle
• 2 BTC - rammy2k2
• 40 BTC - Rallye
• 2 BTC - haaning

Currently have enough for at least 1 Avalon! Going for 2 now!

Total:
79/75 BTC

Let me give you a couple pointers of things I learned in the aftermath of my group buy.

1. Lay out your terms as specifically as possible
 - How long will you host the devices?
 - What happens when they become unprofitable?
 - Can people transfer interest and what rules are there for this? (I advise against this.. it makes a huge accounting mess as I am learning.)
 - Make sure everyone knows you are not and will not guarantee any profits and each person is investing at their own risk, and that by sending you money to order the Avalons they already understand this.
 - Will you merge mine any coins? which ones?
 - Will you go solo? overclocking?
 - Which pool will you use? (if you do)

2. Go ahead and make some forums somewhere so you can keep everybody up to date and everything organized. Have users PM you on bitcointalk their email they register on the forums with, so that you can verify their identity. Only allow the verified group posting privileges, otherwise spam bots show up.

3. If any extra expenses are required, let it be known (rent/power conditioners/240v PDUs/C13 to C14 cables/electricity to run the A/C, etc).

4. You can use https://github.com/csjones/sharebitcoins to make dividend payments easily.

Just really make sure to think through your terms before collecting money. Also, from experience I think 3% is too low a percentage. I wish I had charged more because it takes a lot of time and effort to manage 87+ investors. Also, you will receive your units much later than I will and difficulty will be higher. Do not get locked into doing this for a penny per month, because you will hate it.

Good luck!

^^^ Words of wisdom.

I'm interested in this but my BTC count is pretty low now, so I'm in with 2 BTC, if that's ok

It seems like Avalon might not make a Batch 4.

I think them selling chips in bulk is their way of saying that they;re not going to do a Batch 4.

Agreed. I think that was the plan all along, to bulk sell chips. Avalon doesn't seem too interested in dealing with end-users.

If they do make batch 4. I am in for 10btc

I'm down for 4 btc.

In for 10btc.

Avalon said they were thinking of making a 2 board miner for a smaller footprint and easier to ship..  not sure if they got enough interest in that to move forward

But that would be a little bit cheaper and worth just buying outright, maybe 50btc or less

Most probably in for 5 BTC,

but of course I need more infomations on the batch#4 devices when released before making a final statement.

10 BTC if they accounce a batch #4

4 BTC if they announce a batch 4

5 BTC

I think the chances are pretty low there will be a batch 4.  I don't want to dig through threads for the next hour, but pretty sure Yifu said that it was going to be the last batch. They are going to supply the chips going forward, and folks will be making Klondikes and other similar units.

And this is why you should buy my batch 3 group buy shares !   ;D

https://bitcointalk.org/index.php?topic=232223.0

I'm in for 2 BTC.

I'm in for 2 BTC if batch 4 pops.