Latest posts of: Airwhale

Hosted Antminers Group Buy: .11 BTC for 12 Ghash/sec

I feel like there is a lot of interest in mining from folks with low amounts of capital/btc. I've also noticed relatively fewer reasonably priced group buy options for this market. So I figured that I would set up a group buy in conditions that I thought had a good chance of making their money back. I aim to be transparent, open, and to work in the best interests of the community and group buy members.

For your .11 BTC, you get 1/15th of a 180 Ghash/sec antminer hosted for one year, minus expenditures. Set up costs have some room for the exchange rate shifting about... I will refund the difference between the actual costs and what you pay. The Antminer will be shipped on 2/8 directly to bobsag's hosting facility. Payouts are twice monthly, on the 1st and 15th of the month. All Antminers shipped at the same time will share a single address mining at eligus, and payouts will come from that pool minus expenditures. As I want my interests to be aligned with yours, I will buy 1 share of each antminer sold through this groupbuy

Here is a rundown of the costs associated with this group buy
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Setup costs:

Antminer: 1.45 BTC

Power supply: ~$110

(I use Corsair RM650s for my antminers, but I'm open to suggestions as to alternatives. I really don't want to skimp on the quality of the power supply, however.)

Hosting facilities charge to set up the antminer: $25

Total:1.45 BTC+$135

Again: You only pay the actual setup costs... any extra will be refunded as a dividend. I intend to use gyft or coinbase to buy the PSU, or to just buy it from tigerdirect.

Recurring fees per month:

Hosting:$75

group buy coordination fee: $40

Total: $115 per month per antminer

Miner hosting LLC, where I was going to host the machine is apparently not taking any more hosting at the moment. If there is interest, I can host some antminers in my space for the same fee.

I will not take any group buy coordination fee for the first dividend payout on 2/15/14.

Ending of contact/hosting.
The final dividend will either be given on 2/28/15, or when the miners become unprofitable (i.e., they earn less than $115 per month). At that point, the hardware reverts to me: this is part of my payment for organizing this. I don't really want to ebay a bunch of antminers, and I like playing with near obsolete hardware. The exception to this is if you own more than 15 shares, in that case, you can pay bobsag to ship any antminers you have payed for in its entirety directly to you. These 15 shares can be spread across multiple groupbuys. I believe this costs $50+shipping to have it shipped to you.
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And here are some other things you might be interested in reading:

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Coupons:
In the event that a coupon earned during a group buy is used, I reserve the right to fairly distribute where the money saved goes. Most likely, the savings will be split evenly between the group buy that earned the coupon, and the groupbuy using the coupon.

About me:
   I'm just a miner =) I am a graduate student, and have been mining on and off for about 2 years. I recognize that I'm an unknown on the forum, and I'm happy to Skype with folks or do reasonable things to prove my trustworthiness.

As a graduate student, I can't reliably answer Pms more than once or twice a day, and sometimes it might take longer if I am at a conference, etc. I will try and let the community know if I am going to be more away than normal.

Liability:
   I am not responsible if Bitmain fails to deliver the antminers, or any action/inaction of the hosting service. I do trust both Bitmain, and I believe I have done good due dilligance in researching them. If unforeseen circumstances occur, I will do my best to advocate for the interests of the group buy. (I will also be advocating my own interests, as I am invested with you!)

Transfer of shares:
   Shares may not be transferred.
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How to sign up:
   Please send me a PM with your email, forum name, payment address, and number of shares you would like to buy. I will PM you a unique address to send funds to. Please send me these funds from the payment address you specified on your PM. I'll then place your forum name, payment address, and number of shares below.

I will be visiting my girlfriend out of the country from 2/3 -2/11. I should be able to check Pms and respond twice a day or so, but just so you guys know if I am slow responding!

Owners list:

Airwhale 18LWx9ePZHaCi1aBUoAzosXD1LFCrwvS4R 1