Why are you guys even talking about this?

These would be incredibly over priced even if they included all the Avalon chips (which they don't).

I dunno why anyone would buy one, perhaps I'm converting my currencies wrong??

EDIT: On the second look, it looks like only their hardware that comes with ASIC chips is expensive:

The spot avalon 4 # 110G ¥ 68888
August 30 presale avalon 4 # 110G ¥ 42888
September 30 presale avalon 4 # 110G ¥ 28888

Their price without chips is reasonable I guess.

Can't wait for that.

Good luck from a fellow Texan.  

The list of investors has been updated.

We have enough to buy another mining rig. I'm on the fence as of now whether to order another KNC Jupiter as planned, or perhaps order from one of the newer companies. I am expecting an announcement from xCrowd/Cointerra any day now, which could shake things up a bit as far as options and ROI on different mining equipment.

Also, with KNC's new referral program (buy 10 get 1 free), we might be able to work out a deal with another group buy to add a portion of the free 400 Gh to our dividends if we order more product from them, so it is something to think about. Along with that, rumors of a price drop for December KNC Jupiters is just another reason to hold off a little bit.

I will put a hold on ordering hardware to let everyone discuss the options for a bit. Please vote in the polls and discuss on the forums.

With our current orders and BTC, we have enough funds to order at least 2 Th worth of mining equipment.

Thanks for your opinions & investments. I am kind of busy this afternoon, but everything will be updated this evening. 

It would be nice to have a written statement about your funding. If you're promising 1 to 1 BTC refunds, you must be funding the R&D/production yourself? If you explain this I think it will ease a lot of worries.

UPDATE:

- Please register for the group buy forums. They are private forums, to register you must send a PM to Relm9 on these forums (bitcointalk.org). Include the Email address that you would like to register with and he will get you verified.

Again, they are private so you cannot see the forums or register by simply visiting the link, please contact Relm9 for that. We had problems with bots registering and posting advertisements when setting up the first group buy. Also, there are security concerns with hosting this much equipment, so I only let participants know about the inner workings of the hosting logistics.

I am not an admin of the forums for transparency reasons (I would be able to edit/delete any posts, etc.)

After you have PMed Relm9 and he gets you verified, you may visit the forums here: http://www.yourcoins.org/forums/forums/diversified-group-buy.4/

- I have polls going on whether not to order from HashFast/CoinTerra/xCrowd. If the majority votes yes on any manufacturer's poll, then I will make sure to order at least 1 miner from each. Please vote if you care which companies we invest in! Normally I put up a poll when a decision has to be made so that everyone has a voice.

- After the group buy has completed, all correspondence will be done through our forums. Like my first group buy, I will have many threads having to deal with the logistics of everything. Please go ahead and register even if you don't plan on voting. Thank you.

Ch

I got ya.

Thanks and welcome to the group.

Noted & Updated. 

Yes

Do you guys not realize this is how EVERY ASIC development has been so far? Someone has to foot the bill. BFL did it, Avalon did it, ASICMINER did it, Bitfury did it, ... every other company is trying to do it, (except for maybe labcoin and one or two others- which are not accepting pre-orders minus labcoin.)

What would BFL/Avalon/ASICMINER/Bitfury have done if they failed? They would be screwed in the same way, only having pennies to the dollar left over. The key is assembling or partnering with an experienced team that can get it done.

I don't see what the big deal is. They have an experienced team with expertise to make a product, and we have money to fund their project- without it the project may never get off the ground. In making a pre-order, you are investing in the company you made that pre-order with. Whether they rise to the occasion or fail is unknown as it's in the future. It's up to you whether you want to take that risk. If not, then move on, why do you have to congest the thread for people that might actually be interested.

Everyone seems to have written off VMC as a scam. However, I'm not so sure... I see them as the dark horse in this arms race. Sure, they may be a little weird.. (which is to be expected IMO from IT-geeky type guys.) Sure, their approach might be a little unorthodox. However, you have a lot of unproven companies on this list and I don't think it's fair you exclude them.

Tell me what evidence you have that they are an obvious scam? I have seen no empirical evidence stating that is the case. A lot of hot air and theories, but no actual evidence. Shouldn't all these companies be treated the same until proven to be scams? You are possibly touting scams over legitimate businesses if you don't include them all.

Very interesting. I'm excited that there is another innovative ALT currency coming on the scene. It seems that development is moving along nicely. I wish you good luck on the development & release.

All the pump and dump/copycat coins will be worthless in comparison to something that is truly ground breaking such as eMunie.

Cheers,

Ch

Sorry to derail the auction thread more, but this made me LOL so hard. Well played sir.

I didn't mean to get all "tin foil hat" conspiracy theoryish with you in my explanation. When someone asks my opinion, I will tell them exactly how I feel without holding back (unless it's my non existent girlfriend asking if she looks fat in this dress, etc.)  

I'm a big believer that everyone should do their own research and formulate their own opinions when it comes to the validity of the manufacturers, ROI, who to invest with, etc. That way the only person you can blame is yourself (or the manufacturer if they don't live up to their promises) and not blindly follow someone else's advice.


Sounds like a plan.  

I offered to help him out too in case he doesn't want to deal with it. I was a customer in this group buy and have some vouchers coming my way as well.

Kosmo seems honest enough, where I truly believe that Friedcat hasn't got in contact with him yet. I'm sure we will all hear from him once that happens. Friedcat is a very busy man I imagine.

I just wish coupons were issued to all distributors at the same time, it is very amateurish of ASICMINER to be this disorganized when it comes to .10 vouchers. I am slightly frustrated at that situation (not with the group buy facilitators, but ASICMINER/Friedcat.)

Connect an ethernet cable from your Avalon directly into a laptop/computer.

Manually configure your computer's IP address to 192.168.0.101

Open http://192.168.0.100 in a web browser

Make sure WR703N can access Internet, Configure WiFi: Network -> WIFI -> Scan(select your WIFI network) -> Join Network -> WPA passphrase -> Submit -> Save & Apply for connect to WIFI Internet

Setup your mining worker: Status -> Cgminer Configuration.

Restart the cgminer service: System -> Startup

Check your avalon status: Status -> Cgminer Status

Setup password using ssh (or through the web interface)

More info here: https://en.bitcoin.it/wiki/Avalon

Solid questions, I hope these are answered.

Also, is everything still on schedule with production? Any prototypes on the horizon? Have you had to make any design/spec changes since announcing your product specifications and entering the R&D/production phase?

I don't know. IMO a lot of the naysayers are just spreading FUD. I might be wrong about some of them, some of them might be genuinely concerned, but I don't feel like it is fair to treat HashFast any differently from any of the other unproven vaporware vendors. At least not until they have proven themselves untrustworthy. I just don't see enough evidence that would make me say that they are a scam.

You need to take everything that everyone says on these forums with a grain of salt. There are a lot of special interests at work. Not only manufacturer's special interest, but individual miners as well trying to spread FUD to keep difficulty as low as possible. I noticed one of the biggest naysayers was someone who has been endorsing the crap out of KNC, perhaps he just doesn't want people to order these machines and the difficulty to go up higher than he had planned, or perhaps he is being paid by KNC. You just never know...

Use your own mind and make your own decisions, but I don't see anything that would make HashFast a certain scam. Maybe their timeline is a little ambitious, but they are a bit cheaper than other offerings, allowing for a little cushion of delay time.

My two Satoshis.  

I wasn't aware there were issues, I'll look into it

Geez Canary...

4000 shares x .25 BTC = 1000 BTC

You're charging 1000 BTC for hardware that costs 560 BTC.

Don't you think that's a little ridiculous?

Did you mess up in your post/math?