Bitcoin Forum

Group-buy2: please express interest in this thread or via PM.

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Note: Individually distributed shipping can be done (as per group-buy1: several units need to be ordered; iPollo will be deciding this, we simply convince them with total order size).

I propose to host them. Please see hosting thread here: https://bitcointalk.org/index.php?topic=5407422.0

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Group-buy2; pending
[?] units, $x/unit
Order: n/a
Shipment: n/a


Group-buy1; completed:
25 units, $269/unit.
Order: paid
Shipment: shipped & received.

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Payment for customs will be handled after (roughly $50/unit), for units destined to be hosted by me.

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This project is hinged on supporting the Grin network: http://grin.mw/ (http://grin.mw/)

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Group-buy1: ipollo.com (http://ipollo.com), the G1/G1-mini manufacturer, has agreed to $269/unit at 25 MOQ. Direct from iPollo remains the best option.

Group-buy2: In discussion...

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== Original idea: ==

I've pondered an idea recently. Setting up home-suitable miners securing the Grin network (grin.mw (http://grin.mw)) on best-found cheap electricity (<0.15-0.20 CHF/kwH in Switzerland).

Then, small hosting locations which would have 10's of machines at minimum, and eventually a main hosting center where electricity is cheapest (under 10 cents). By this stage, larger more efficient miners could be purchased.

Now some quick numbers (note I like to use 'calm' estimations / 10 months may already be a 'long' term for this network in terms of price/miningpower/organic coin-being-used growth).

Dividends paid weekly, in grin/btc/fiat?, as per the ratio of mining-power-share:income. So 1 token representing 1 miner or 1 unit of power (for example: 1 token = 1 Gps edit: 1 miner), and if it brought in +350/4.33weeks  (350 grin rough revenue monthly for a G1 mini from iPollo pool mining as per my evidence) = +80 grin/week = at current price that's $5 or 28'000 sats roughly (350 sats/grin). So then, consider a cost of <$300 (after bulk discounts) per miner, landed and running in Switzerland.

Let's say the supplier agrees at $260/unit. At current price that's 0.0145BTC equivalent. Or 4'000 grin equivalent. That means each miner would earn the equivalent in 50 weeks (ceteris paribus, again, if total network mining power remains stable through a year, which I doubt, 8-10kGps right now coming from big removals of power since a few months/2 years). The machine is 'paid for' in approx. 1 year (there is a part of this venture which is hinged on grin's appreciation or success in general too).

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Some coin info (which is 3 years old) as of OP time:
Algorithm:   cuckAToo32
GRIN network hashrate:   8.5089 KH/s
GRIN difficulty:   199.1559M
GRIN block reward:   60.00 (every minute)
GRIN 24h volume:   856,123.33 USD
Price for 1 GRIN:   0.0629 USD

Updates:
- iPollo has agreed to $269/unit at 25 M.O.Q.; -20+% can be reached at the higher ranges 50-100-150+ units.
Another supplier can ship from China, also with discounts, TBC Currently dealing with iPollo directly.

I think the main complaints I've seen from cloud/hosted mining are:
1. Contracts being too long (this was particularly with 4 year contracts in bitcoin's case but a year contract might seem like a large investment to some here unless it gets split into multiple chunks/has resale value or buybacks (but buybacks would be risky - unless you find someone to secure buying them back at a lower rate like 80%-withdrawn profits).
2. Costs incurred by hardware maintenance, who pays them and when do you decide a unit is too much hassle to keep improving? (this could be covered by an involuntary insurance fund though).

Any idea how big the chips are in those g1 minis? I can find them for sale on innosilicon but not a size - essentially if they're big they have a higher chance of becoming obselete/overpowered sooner by a rival (big is 45nm, a good size is 7-14nm if the technology is similar in sophistication to bitcoin ASICs).

Cheers for replying. I doubt there would be a long-term contract, if at all in this case, just an investment of capital upfront for return over the following year(s). Costs associated would be factored in. The advantage here is the fact I could access low-cost electricity/hosting locations,
of which there exists 100s of places, especially since the machines are designed discretely enough to be installed in a residential setting (apartments, local shops, houses). As an example, I know of one home-owner who could direct excess power from solar toward a miner; roughly doubling their monthly revenue from their usually-sold-back-to-grid energy.

.. and interesting, now that you mention it: I can look to propose a 1-3+ miners/month 'buyback', at a rate to be determined, with my own funds. This means by the end of 12 months I would have purchased back 12-36 units.

I don't think hardware maintenance will be too significant - but yes, a x% fee deducted from earnings could cover this. Likewise, I'll have to consider new mining generations being released in the next year/two. A reinvestment fund equally could be set up, to avoid being diluted out.

I still need to find more info re: specs on the chips, I'll send their support a message. I've done some searches but the chip details are elusive.

The fate of cloud mining companies ends tragically. I have seen it many times. 10 cents per kilowatt is very expensive. My electricity price is less than 5 cents and I will buy an asic myself if I want to mine another coin.

Fair point re: buying your own. What you miss out on is the discount with a group-buy (10-20%) and the potential to have it mine at a home/shop-host with utilities included in rent. They would accept a %/x fee, adding to mining profitability.

hmm let me think of a way for USA players to get in of this.

I am making dinner I will post back later.

edit
If they would sell me 3 at a time for 266 each I would be at 798. legally beats the higher import tax.

I can run a hundred of them. I have lots of power.


I would be willing to order a set of 3 to test and commit to more if I like them.

If they dont want to send me three at the discounted price . I could order 2 for 598.

not sure how well they run but the price is decent as is the efficiency.

I am tired of 3300 watt monster gear.

Thanks for chiming in philipma. To be confirmed, but I would believe that we could have a portion of miners from this group-buy shipped directly to the US.

I've written you down tentatively for 3 units. I'll follow-up once I've had the chance to discuss with a sales representative I was put in touch with.

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The fact that these machines are relatively quiet+low-heat had me see how appealing it could be for the retail sector (especially plug&play home-miners).

I've had 1 miner operational since a couple weeks now, no issues thus far.

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@jackg as you shared with me, according to https://www.asicminervalue.com/miners/ipollo/g1, the chip size is 12nm. Note though that this is not the page for the G1 mini - I'll confirm with support.

Currently we are at 11 units 'ready to buy', I continue speaking with a sales representative to see if we can reach better.

3 units will be shipped to the USA, are there any other parties interested over there?

I will ask around for more usa people.

if you ship to USA the key is stay under 800 usd. so three packs work.

Thank you. Noted re: <800 as per invoice.

I have one more local order (self-owned) confirmed, bringing us to 12 of the 25 MOQ.

I may have found at least 1 USA guy>

I am talking to 3 others. I will know more by Monday

Ok, thank you.

Re: hosting some buyers' miners, I've had the idea: mining revenue would arrive straight to miner-owners' addresses. They would then send each week/month, an amount according to a pre-determined rate. I am looking to calculate some reasonable figures.

Also, I am still ready to confirm monthly unit buy-backs. Would this interest anyone?

 we were moved to service. I suppose it is that you are offering hosting which would be a service.

Hello,

I'm located in the USA. I'm also interested in 3 units if they can be shipped to me and the total can be kept below $800 to avoid tariffs. Otherwise I can take 2 at the $269 price.

Please let me know what's possible. I'll confirm my interest in a follow-up post once I know better the details.

Thanks,

momanz

Sure, as with philipma1957, iPollo may be willing. I've sent you a PM, and I'll confirm with the manufacturer. I've noted you down tentatively for 3 units. If this doesn't work - then 2 units totalling 538$ it would be.


We're still in the Mining (Altcoins) board!

Though I did create a thread in services since there's an aspect here where I host machines on behalf of others.

Customs payment note: when I received my first unit - it cost me 50.

New pledge-to-order via telegram, it will be hosted.

8 units remaining to reach the 25..

Funds to cover my end of the group buy (personal units + local orders) will start arriving into my staked address: 12hYBWiPqfwdveGzpbRdGxeqnoMcNvGNSq .. I will look to create a separate address, signed by my staked address for the total collected in BTC before the convert for iPollo payment.

A forum user has pledged to order +3 units, hosted.

5 units to MOQ.

As discussed, I'm interested in getting one hosted by you too (and perhaps some more if we see further group buys).

I was beaten by 13 seconds!

Order page updated with your username - thank you!


Close! I, thankfully, got to avoid that red message warning 'new post made' when I clicked post :P

A bit more than a month has passed since the group-buy began 'gathering orders'. Today the minimum order quantity threshold of 25 (giving us -10%) was reached.


Thank you to all parties involved (for both the pledges & faith); updates to follow .. ASAP!

nice.

please link the btc pay address.

Everyone involved has been messaged; I will be collecting funds from local pledges tomorrow.
Momanz has sent the funds for their 3 units, thank you.
Edit: philipma1957 too!

I paid 0.03721957

for 3 units.


https://www.blockchain.com/btc/address/12hYBWiPqfwdveGzpbRdGxeqnoMcNvGNSq

https://www.blockchain.com/btc/tx/11e1df879beede56fc7a37cd9a82840f5f97d745d734e6980b4c786acb4474ec



Also I am trusting marcotheminer based on the campaign thread he ran that I used back in 2014 ,2015 , 2016.

Hopefully this goes well.

Confirmed & converted. I appreciate it.

I am looking forward to testing and using them.

If I like them I may get a lot of them.

If only there was a way to send funds much faster internationally ;) (perhaps within an hour)!

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Also thanks for the update!

Thats a good one!

.. Still no clearance on my end. I fully expect it tomorrow before midday, otherwise I need to pass by the bank. Talk about 1 business day .. yeah right. It's frustrating,  for what it's worth: I apologise.

EDIT: Cleared. Classic, it was at midnight.

Order to be paid in full in the morning.

Yeah as usual the manufacturer bank or your bank 🏦 pulls a delay.

I got pulled away from the screen just before I was about to update here via reply; I edited the OP first.
To confirm: 25 units have been paid for in full.

Nice looking forward to trying out this gear.

Shipment will be sent early next week, according to manufacturer.

Nice looking forward to this.

I have been told the units are in transit; just awaiting tracking info.

Does this include the three coming to me? I hope they honor their commitment to the group buy.

Back in the day I did run three group buys with canaan. They were fun to do. I had 22 avalon 721s come to my house and shipped them to others it was quite an adventure. I admire you for setting it up for us as it is a lot of hard work. These look to be good units If they work well I may buy more.

Assuming the commitment is honored: yes; 3 batches of shipments. Thank you, the adventure continues!

Hi Everyone,

My 3 units arrived yesterday (self hosted in my garage!) and have been up and running for about 24 hours. Initial impressions...

Each unit uses about 100W measured from the wall, this is better than the 120W I was expecting.

Each is hashing at 1.3gps maybe a little more. Pool side it's at least 1.3 gps average I think maybe closer to 1.35-1.4 gps again only 24hours.

They are a little louder than I was expecting. The fan is running at around 5000rpm. There are some fan settings that I can play with, I just haven't' had time to look into it.
In contrast the goldshell box unit I have is pretty quiet with the fan running at 2000ish Rpm (consumes 200 watts).

One of the 3 units runs about 5-7C hotter than the others with a few more reject shares, but nothing more than 0.5% after a full day.

Interestingly ipollo built the software on top of OpenWrt, there are many options from this firmware that are exposed and it looks like they can be modified if you are brave.

I'm generally happy with these units. Many thanks to @marcotheminer! Very smooth transaction and very well handled group buy. I may be back for more if a second buy planned.


Cheers,

momanz

changed a router setting and it seems improved

take a look at link



https://grin.2miners.com/account/grin19wna4zgtlqc22uwc4huthks4v5s0spff0c8qlx30zra3zfdjzvyqs680v5


these seem okay to get more

Just saw your PM. My settings are below.

https://imgur.com/AE59Yra

Only difference I see is in the NTP server, but looks like you've solved it :-).

Cheers,

momanz

my router had three separate security settings changed them all and I am good to go.

All shipments have been well received; group-buy1 complete. Thank you to those who participated, and to iPollo for the fulfillment.

Bump

Will you have a g-buy 2 thread?

I might be in for one on the 2nd group buy.  Hopefully the price can come down a bit?   :P

I probably still have my Grin wallet around somewhere.  Not sure if I would hold or not.  Probably not.  I don't have any hardware running at the moment though and I'm starting to get the shakes.  Seems like this might be a decent short term solution.  :)

I would be interested in a 2nd g-buy.

Keeping it to one thread for now, and will update the original post (or make a new thread if necessary) as things progress.


The latest offer from iPollo is still at $269/unit as of this moment.

I will be getting 3 more. on the second buy.

To update ... the buy is paused (until either a solution or it will be cancelled). iPollo is asking $269/unit 30 moq and maximum of 3 shipments (which complicates things, as it stands we need 5+).