Exactly.. he ran a KNC group buy and collected enough BTC to order 11 and 1/2 KNC Jupiters starting back in June and supposedly he never even ordered the hardware...

What you think he's gonna do with 10,000+ Avalon chips and 425 stolen BTC? You think he's going to ship out the chips like he didn't screw over the KNC group buy customers? 425 BTC would get 10,000 Avalon chips assembled pretty easy... Notice he had a prototype Avalon clone. Ahem, how was that payed for? KNC group buy funds?

I'm not buying that your random friend (possibly a sock puppet) desoldered chips from an Avalon he bought off Ebay so you could make this clone. Avalons on Ebay were going for insane money, again, how did you pay for this? KNC group buy funds?

This whole thing is so sketchy. I hate myself for having 13 BTC tied up here.

Hi everyone. Another reason of freezing deposits from new investors was to give people that participated in the first group buy a chance to get in before capacity is reached. If you are/were a shareholder in the first group buy, the deposit address is still up there on our forums, feel free to send funds in. Please reply with you transfer ID on our forums and not this thread so there is no confusion.

I will let everyone know when deposits open back up.

Thanks

Yes, they said this in their email newsletter.

In the UK it is: 8:40 AM, Friday, August 16, 2013

It's pretty early in the morning still... I'm sure they'll have it up sometime today.

Good point. I was both a BFL customer (refunded) and an Avalon customer (delayed). Both of them left a bad taste in my mouth. I want other companies to come in and show them how it's done. These new companies will not be able to get off the ground without help from pre-orders.

Most people don't have millions around to fund R&D/production of a Bitcoin ASIC.

I think our batch 3s will ROI one way or another. In two weeks we mined 20% of what we paid for them. Hopefully Avalon offers a trade in deal for next gen like they did for Icarus/Lancelot customers. The FPGAs were selling for more than what you could mine with it, simply because you could trade it in for value on a purchase of an Avalon ASIC. It is possible we will ROI this way.

Another possibility is SHA256 ALT coins. Although Bitcoin may become unprofitable at some point, perhaps SHA-256 ALT coins will become more popular as people's Bitcoin ASICs become unprofitable. Thus injecting people into the SHA256 ALT coin communities and markets... price likely goes up. Kind of like how Litecoin became way more popular after GPU mining became unprofitable on Bitcoin.

Another possibility is as Bitcoing gets more popular, people with free power start popping out of the woodwork, offering to buy hardware for more than what others are willing to. If I lived in an apartment that offered free power, I know I would buy a rig. You could mine for years and years, and not have to worry about profitability or electrical efficiency.

A lot of things can happen, the future is impossible to tell, but you shouldn't worry too much after hardware has been ordered and it's hashing. We all made the decision to order the hardware, no one made us. It is partially our own fault and everyone should of known this was risky. What Bitcoin investment isn't risky though? Bitcoin in itself is inherently risky due to the wild fluctuations in the price.

+1

Live by the pre-order, die by the pre-order. 

If you can't stand the heat of the pool, then get out. 

I got you.  

Thanks for voting. It seems that HashFast's miner protection plan might of put them with enough votes for an order. The vote was tied 4-4 before that announcement, and now is at 7 Yes, 4 No. We have enough funds for a baby jet, and I said I'd order by votes, so...

If you are against or for ordering a babyjet miner from HashFast, please go vote in the polls on our forums. If we are indeed ordering from HashFast, we need to go ahead and get our place in line, so that is why I'm setting the deadline on Sunday. I will tally up the votes on the HashFast poll this Sunday to decide. Again, about half the group has still not voted, please go vote if you care one way or the other.

I was biting my tongue on that one.

Sorry, didn't read the OP. I agree you could host three rigs in your house, but some people have wives and girlfriends that don't like noisy fans running 24x7 (three rigs would be quite loud).

10% is not too high IMO. I am going to run my first group buy at a NET LOSS with a 3% fee because of rent and Avalon delays. Especially if he has to rent commercial space.

You don't have a rebuttal, so you delete the part in the quote where you are proven wrong and post a snide remark.

Classic Inaba. Thanks for making me smile.

This is probably the dumbest post I've ever read on these forums.

If BFL was the only company shipping ASICs, then this statement would be mostly true.

However, you're not the only company shipping ASICs. You forgot about ASICMINER and Avalon you silly goose you. Or was this just an attempt at satire?

BitSyncom is sipping crown and seven at some swanky club in New York, whilst trying to seduce a hot blonde with curves in all the right places. Oh look, he just checked his smart phone to see if the millions of Bitcoins he made from screwing us are still there... yep they are! Phew!

(AKA. he doesn't give a shit about you.)

No problem. I agree on HashFast, if I was voting then my vote would be yes.

Good luck with your group buy (sincerely). I would not even try to organize something like this if I wasn't at least a Hero Member and had a lot of references/business dealings on the forums in the past. It is really hard to earn trust around here. There are still some people that don't trust me... it is what it is.

It may look easy, but this actually takes up A LOT of my free time. There are many duties that may not be easy to see from outside looking in. Also, I am very anal about everything and like to keep everybody updated about every little thing. If I have to move an Avalon over an inch, I will let everyone know that. I probably spend way more time on this stuff than necessary, but it is important to me that everyone is happy with my service.

Cheers,

Ch

Also I wanted to mention that dividend payment #2 includes 8/15 through 8/31, not 8/13 through 8/31 like the OP stated. 8/13 was the share transfer cut off date (anyone that owned shares on that date receives the first dividend payment.) The two dates could be easily confused, I do not think mrbrt meant any harm.

Thanks.

I can confirm mrbrt does indeed own enough shares for this auction. 

I will monitor the auction thread and also the block chain after the auction is over, if you win the auction and send the required amount to the BTC address in the OP, I will transfer his shares over to you.

Confirmed. Thank you. 

Ah... home sweet home.  

Firstly, we did not order Batch 1 Avalons. If we had, then we would of already made ROI and a huge profit. My first group buy was for Batch 3 Avalons. Unfortunately Avalon delayed about 3 months, as you might know. Although we will not make as much profit as we were expecting (we thought we'd break even in 1-2 months), I think we will still make a modest profit. I'm not going to speculate on how much or how little that will be, because it is mostly out of my hands. My job is to keep the machines running stable, and whatever happens happens. As long as I am doing that and taking care of my duties as the group buy operator (dividend payments, share transfers, communicating with the group, etc.), then I feel like I have done a good job at the end of the day. No one knows exactly what difficulty will do in the coming months, all we can do is sit back and enjoy the show (or throw tomatoes  ).

Secondly, I try to learn from my mistakes and other people's mistakes as well. Avalon certainly made some type of mistake along the way with their 3 month delay- we can only speculate what that was. So with that in mind, on my second group buy offering, I am trying to do just that. Instead of putting all our eggs in one basket (Avalon), I am spreading the orders around to multiple manufacturers in hopes that it will lower the variance of delayed orders. I will not and am not investing our money in obvious scams for the sake of diversification. I am trying to stick to companies that I believe have good intentions and plan to release a product. Will they arrive on time? That is anyone's guess, that is why I am trying to not invest in too much hardware from one company.

Thirdly, all new ASIC companies that were not in my OP, I am allowing all members of the group buy that have deposited funds to vote on whether or not we will buy a miner from them. I have not and will not vote in these polls, it is completely up to my investors. Hashfast is currently sitting with 4 votes for yes and 4 votes for no, so I cannot say for certain that we will or will not buy equipment from them. It 100% depends on the outcome of the polls on our private forums.

Fourthly, it is up to you to do what you'd like with your money, but I will provide some facts for you. Let's take KNC as an example. Their low end miner Mercury is 100 Gh for $1995, meanwhile Jupiter is 400 Gh for $6995. Mercury is $19.95 per Gh, meanwhile Jupiter is $17.49 (rounded up). So, if you order a Jupiter you are getting about 12.3% more hashes for the same money than if you were to order a Mercury. My fee is only profit, minus electricity (which you would have to pay yourself anyways), minus 3%. There is about a 9.3% overlay there, which in theory, you will make 9.3% more than if you were to just order a Mercury and mine with it yourself. These savings are comparable among different ASIC vendors, most offer similar discounts for ordering faster equipment.

I hope I have covered everything, please let me know if you have anymore questions.

Thanks for the kind words TheJuice. 

DyslexicZombie, I will get back to you in some minutes as soon as I get home. I've been at work all day, then had to come to the warehouse to clean out the A/C filters for the Avalons.