The share price has been reduced to BTC0.55 to reflect the increase in bitcoins value over the last few days.

Yeah everyone was a newbie here once, but not every newbie is asking you for your bitcoin

I don't have anything to hide. I'll be giving my complete contact details to all shareholders including email, skype, phone and business address so I won't be hard to find if they have any problems.

I'm running a BFL 50GH/s Single and it's using 242W. You'll also need a PC to run it so add that to your usage, or use a Rasberry Pi like I am as it uses bugger all. If you want to work/live in the same room you run it from you might also want to factor in cooling as it puts out a bit of heat, and the fans make a bit of noise, but not as much as a Multi GPU mining rig IMO.

I've been mining LTC for a while using a PC with a couple of AMD 7970 graphics cards in it. Start here for a good comparison of what you can get for your money.

https://litecoin.info/Mining_hardware_comparison

Keep in mind that you'll be working the cards hard, so they will put out a lot of heat and noise so you will need somewhere cool and out of the way to run your mining rig. Also consider the cost of your power, you don't want to spend $6K on a mining rig only to find you can't afford to run it and the air conditioner you need to keep it cool

The other option if you are willing to wait a bit and take a chance would be to pre-order a next generation ASIC Scrypt miner. These promise to run faster and cheaper than anything currently available, but nothing has come to market yet so your taking a chance by paying now and hoping they can deliver. Alpha Technology announced pre-orders for the first such ASIC script miner a few days ago...

http://www.coindesk.com/alpha-technology-pre-orders-litecoin-asic-miners/

Thanks for the vote of confidence LDR  

1. The $4000 difference is for the 12 months of hosting at terraminehosting.com which is included in the share price.

2. Sorry, a typo on the Web site. I've corrected that link to terraminehosting.com as it states in the post above.

3. It's quite possible that it won't be profitable, but unless CoinTerra drop their prices between now and then there isn't much we can do about it. $10K US is what it will cost anyone who wants order a TerraMiner IV now, and have a good degree of confidence that it will be mining for at least a year. The only way of reducing the total cost would be to source cheaper hosting. Personally I'll sleep a lot more comfortably knowing CoinTerra have sourced and will stand by the hosting provider, rather than having it in the back room of somebodies house, no matter how much I might trust them.

4. Yep that March order does work out a bit cheaper up front (BTC0.50 for 100GH/s), however that price doesn't include hosting and electricity costs which will be taken out of whatever it mines. There is also a 3% fee, so take that off your actual hash rate too. My group buy price includes a guaranteed year of hosting and no additional fees, everything mined is returned to shareholders.

5. I am happy to use any recognized escrow service that the purchaser likes, they just need to add the cost of any fees the escrow service may charge onto their price because I am running this group buy as a free service. I understand that I'm new around here so there is no reason to trust me, I don't know how I can change that in the short term.

Regards,
Paul.

This is a group buy for a CoinTerra TerraMiner IV 2 TH/s Bitcoin miner. For this group buy there are 20 shares with each share costing BTC 0.55 giving the owner 100GH/s per share. The share price includes all running and hosting costs for 12 months through terraminer.com, the CoinTerra backed hosting referal service. All hosting partners chosen by CoinTerra are selected for their experience in running Bitcoin mining operations and their short distance to TerraMiner assembly plants, allowing for quick delivery, setup and configuration.

There are no additional fees or running costs, every bitcoin the TerraMiner earns will be returned to the shareholders in full, down to the last Satoshi. Shareholders can nominate and vote on the mining pool and settings that the TerraMiner IV will mine with. Wherever possible all shareholders will be given access to the miner and mining pool interfaces to allow them to monitor the miners performance.  All mined bitcoins will be distributed to shareholders monthly.

At the end of the initial 12 months of hosting the shareholders can choose to pay for an additional 12 months hosting and continue mining, or sell their shares to somebody who is willing to cover the hosting costs. Shareholders will have the opportunity to nominate and vote on changing hosting providers after the initial 12 month hosting contract expires. When no shareholders can be found that are willing to cover the hosting costs the TerraMiner IV will be sold by auction and the proceeds distributed to the shareholders.

How To Order and Pay for Shares
Shares can be ordered through my web site, http://www.megahashing.com/. Choose the number of shares you would like and when you complete the checkout process a unique bitcoin payment address For your order will be given to you. Transfer the required amount to that address and your done. When all 20 shares are sold an order will be placed with CoinTerra and TerraMiner. If you change your mind you can cancel your order at any time upto when the TerrMiner is ordered, your bitcoins will be refunded in full.

Since the TerraMiner and hosting will be paid in US dollars if bitcoins value exceeds $1100 US at the time the order is placed with CoinTerra the share price will be reduced and the excess bitcoins will be refunded. If the bitcoin value falls below $900 US before the miner is ordered the shareprice will have to be increased, shareholders who do not want to cover the cost will have their orders cancelled and payments refunded.

I am running this group buy as an affordable way to get in on the next wave of ASIC bitcoin mining. I "profit" by purchasing shares in the group buy at the same price as all other shareholders, and I benefit from the bitcoins we mine at the same rate as all other shareholders. I do not charge any fees for running the group buy, monitoring the miner, or processing shareholder payments, its my way of saying thank you for helping me make my bitcoin mining more affordable.

If I've left anything out, or if you have any questions let me know.

G'day All,

I've built a new Web site for group buying Bitcoin mining equipment.

megahashing.com

The objective of the site is to promote the use of bitcoins by making it easier for the general public to get into bitcoin mining. I believe the wave of ASIC based miners becoming available now make mining simple and cost effective enough for everybody. The site is based in Australia, but ships internationally.

It is launching with the Block Erupter USB, with additional products to be added as they become available.

Price
The price is BTC1.15 per Block Erupter. This price covers the import duty and GST payable when the bulk order is shipped to Sydney, Australia.

Postage is calculated by the site and charged in bitcoins. The amount depends on how many you order, where in the world you are, and if you want express postage.

Duration
The group buy will remain open until 50 units are ordered. You can cancel any paid order via the Web site for a full refund, up until the group buy is filled.

We have built a bitcoin payment gateway for the Kentico CMS. We will soon be launching an e-commerce site that uses it.