Our order was complete 2 nights ago. We had already canceled our first order from last Friday and applied the money to our order on the 15th to save about 4-5 BTC (which is the first time with 7 Industrial class ASIC rig purchases I've ever had to do this). I had to do a bit of back & forth with Bitmine to make sure it was coordinated correctly. I'd feel bad about cancelling *yet again* esp. when Giorgio and I both know that the new promotion started last night.

Keep in mind: they're a small startup much like many of the new ASIC mfgs. I don't want to abuse their ordering system further then I already did as I'm trying to build longer term business relationships with various manufacturers to benefit our co-op. We already saved 12% off the at-cost BTC cost simply by using the higher exchange rate this week.

These 12% savings were already passed on to the R7 members in the form of only having to raise 91% of our targeted shares, so that 9% extra hashrate is being split amongst the 91 PAID R7 shares.

Thank you for the public confirmation! Thank you also for letting bobsag3 work with us on this Group Buy.

It's quite a coup and an exclusive for our little co-op. Aloha!

==

I'll wait to update numbers and I'll start an R10 thread later today. Please keep the orders coming in, but please shift orders/payments to R10, as Thomas mentioned.

Hi ipxtreme, Welcome aboard BTW!

Sorry, we'll have to wait for Thomas our spreadsheet master and co-leader of the running of the co-op. We're pretty much on the same page most of the time and he's a massive reason why the DZ MC has grown so quickly with minimal growing pains even with the forum outage.

I just added stock to our site 100 more shares in R10, and this equipment all ships at the same time, so R10 will arrive the same time as R9.

==

Welcome back wontons! Cheers, mate!

Welcome aboard reznor, davedx, and redphlegm! Welcome back tiennou74!

I'm going to wait to adjust number further than 10 until we hear from Thomas, which is what our co-op's site is showing.

I have a feeling that we're going to run out soon.

If we run out of R9 shares, no worries, I'm going to start up R10 since we're 90% sold out for R9 after about 30-36 hours.

10 shares available.

Thanks -R-. I need doublecheck #s (you know how it goes) but I'm adjusting this down by 1.

I'm paying philipma1957's R1B upgrade (funds also in R2B wallet) as part of my buyout for the R2-9 Big ole UPS unit (one of several) so we need 4 shares paid to proceed.

Here's the thread w/ payment info: https://bitcointalk.org/index.php?topic=296199.msg3252050#msg3252050

My final update of the night, was delayed from sleep by a Skype chat with Giorgio from Bitmine. He's likes the idea behind our co-op, and the GB market access we can offer them and other manufacturers at double and triple digits instead of four digits USD.

34 shares available.

Thank you!

I just got out of a Skype Chat with Giorgio.

2 things:

1) Bitmine is still on track for December deliveries for new orders according to Giorgio.

2) Bitmine is having a new Halloween Sale. It's 15% off until the end of the month.

It's likely that I'm the first person outside of Bitmine with this new info because I was Johnny on the spot.

For those interested in partial ownership of Bitmine Rig, we already have a Bitmine Rig ordered for our co-op and we're attempting to raise funds for another 800GH/s in a 2nd Bitmine fundraising round, with very little to no markup to the GB shares: https://bitcointalk.org/index.php?topic=310217.0

Prices have been reduced 15% for this Round 8 thanks to Bitmine's New Halloween Sale!

I just happened to be the first person in the world outside Bitmine to find that out thanks to a Skype conversation when he told me about it.  

Therefore: this is the first Public Notice of this promotion.

At-cost Share Prices have been reduced from $70 a share to $60 a share!

Hi alh,

Thank you and Welcome aboard! Excellent choice for your first GB venture, if I do say so myself.

I do admit to some bias in the matter, however.  

I'd say that we consistently offer some of the very best ASIC values available anywhere through our community fund raising efforts where we attempt to price our GB shares at-cost or even below-cost. We then attempt to give our miners the most optimal "home" so that our invisible little miner robots can bring home the bacon, or in this case: sweet, sweet BTC.

I'll decrement the counter 1 before I head to bed (another advantage of our co-op: multiple reps and remote miner admins in multiple time zones). Thomas or Bob will be taking over answering questions/queries in a few hours.

43 shares available in Round 9.

Order #252 entered for Thomas via my site account.

19 shares removed from R1B wallet, converted to 7 shares in R9 with some BTC left over. He had 1 share in reserve so we decrement the stock counter by 6, although he paid for 7.

https://blockchain.info/address/1Mod5Kn4TAZCV2ArsgVwRCsHQBVNz6XNNh

Some masked man or woman bought another 4 shares (or that's multiple incognito orders) so:

44 shares remaining.

Hi glongsword,

Thank you for your questions! I appreciate it as I can get too close to the trees to see the forest at times. My thoughts on this:

1) Part of the value of your at-cost or below-cost share is your access to true world class IT expertise. I've been an IT pro for about 13 years and I've designed many DoD certified systems and networks that will never see the light of day, or are only used in labs and field tests, for many cutting edge research projects for about 10 years. -R- is a well paid IT consultant who also may have a security clearance (if I have to tell you...j/k).jungle_dave is a retired EE / Network Engineer (who also knows the exact research lab I work at) who plants trees in the Amazon. bobsag3, our primary miner host, is an IT veteran who has a better hosting setup and pricing then you'll find *anywhere* IMHO.

I've also done well with arbitrage over the years selling CRTs, pre-order Wiis, a BFL Jalapeno at $1850, two July 4 BFL pre-orders at a $100 premium instead of a battle for a refund w/ BFL (lemonade is a specialty of mine).

Our co-op is also different in that we vote on things. I designed this co-op as an amateur historian (80-85% of a US History degree only w/ an IT degree) with the strong belief that the best form of governance is a direct representative democracy, which works as long as people are involved and committed. This is very much a democratic experiment in project. It's working so far.

However, there's been 7 people involved (including mootinator and unknown.usr) that have volunteered time I estimate at well over $10,000 worth of expert pro bono work to turn this co-op into a smooth running (or relatively smooth running) co-op that really is WYSIWYG as we're transparent about *everything* regarding the running of the co-op and Group Buy Round.

===============================================================================================================

One of our votes will be: When should we sell this miner?

===============================================================================================================

This question holds true for every DZ MC miner that is or will be in existence. I'm truly hardware neutral although I admit I'm most impressed with HashFast, and with some reservations, KnC, who did over deliver as far as hashrate even if there's been some unhappy campers.

If you go by TGB projections, you'll note an interesting thing for any of the high end miners: most of the annual ROI is already reached by the 5th to 6th month, meaning: if you could still get some sort of premium for in-hand, used hardware we can aim to sell it here, BitMit, eBay, Coingig, places co-op members suggest, etc., etc.

--

2) Per our last Skype call, bobsag3 won't be able to afford to run our miners past February at current hosting rates. This 2.75% Industry low Hosting/Management fee was only meant to be an introductory offer instead of a permanent rate to help establish bobsag3. With my input, and with backing from a local investor, in this network engineer's opinion, he's now a serious contender for most ASIC friendly and most impressive facility built I've heard of from a "regular forum guy" (albeit backed by an investor) and with me as his marketing/management agent who also double vetted him and assisted him in designing his building and the special TLC being set up just for the DZ MC.

This co-op's facility, with Industrial UPS units and Battery Banks, a Gas Generator for longer outages, dual network connections (including plans for a 4G router/account very soon for redundancy through longer outages) and special A/C cooled cabinet, combined with our low hosting fees and mesh network of vetted network engineers and IT pros mean that the DZ MC has the very best hosting conditions for any ASIC miner you'll likely to come across or hear about.

The going rate for GBs of this type appears to be 3%. I expect other GBCs may have to raise their rates next year. Just because BTC is deflationary in nature doesn't mean that we don't face inflationary pressures when it comes to hosting and operating ASIC rigs.

Sorry, for the length of my response. I'm not known for my brevity of thought.  

==

TL;DR: This co-op is run by Kool Aid drinkers that are sick of seeing fellow miners getting ripped off and want to help out the Willie Lomans and other "little guys/gals" around the world that want to venture into ASIC mining (or just want to spread their bets) by giving them the same access to the very best ASIC values that only someone with deep pockets has.

I have some news regarding the HF R1B fundraising.

The wallet was full, but most of it was Thomas's. He's removing 19 shares from the wallet to buy R9 shares. These transactions will take place this evening.

However, this 19 share loss is offset by:

+10 shares PAID by baros008 (funds currently in R2B wallet; oversales)
+2 shares PAID by abuelau
+2 shares PAID by trout (funds currently in R2B wallet; oversales)

So: we need to raise funds for *five* more shares in R1B fundraising for the HF double hashrate upgrade promo at 25% extra. Preferably, these 5 shares will come from R1 members paying for their allotted upgrade shares. There's no padding in this at-cost R1B GB; we need those 5 shares paid to purchase this.

Thanks.

HF Baby Jet R2 Upgrade Shares, $43 ea. with Express AM Delivery

PAID

4 - baros008 (10 paid oversales shifted to R1B)
10 - mrm0
7 - aneutronic
5 - Commandermk
2 - firsttimeuser
2 - -Redacted-
2 - DZ
2 - thomas_s
2 - jungledave, Tx ID: 04...b6 or 11...9c, 0.69 or 0.68 BTC
4 - bobsag3

40 total R2B shares.

Ha!

Correct me if I'm wrong but 1 HF Sierra and our Bitmine Rig were suggested by some guy I know that works in finance.

I also forgot to mention the online friend that derailed our R2 Bitmine Rig with an at-cost Day 1, 64th paid, HF Baby Jet with MPP. That was pretty cool too, and threw the whole co-op involved for a loop so that we all re-voted for our choice of Rig (which was an open decision in R2, because I was open to good deals).

It's almost like I should set up a thread soon for...people that want to sell their rigs to us at-cost or below-cost...  

It does tend to make things easier when there's 4 of us sharing the work and we're also getting help from jungle_dave, mootinator, and unknown.usr.

If I was solo I'd probably be on R3 or R4, which I'd be fine with but co-op members and online friends keep coming to me and go: hey, let's buy an MPP Sierra, I have half the funds... or hey, you want to buy a Day 1 below cost Jupiter or two... how about 40% off Black Arrow Bullet Run boards...

and so it goes. 

Thanks Philip. Welcome back again.  

54 shares available.

Great news!

After the dust settled, we only sold 91 shares *but* thanks to BTC rising in value this last week, we had enough funds for purchasing the Bitmine Rig & still having leftover funds for the usual 20 minute UPS protection that are included with DZ MC miners.

Therefore: 9% extra hashrate will be evenly split among the 91 PAID shares in R7!

No need to do anything different: instead our payout calculations will have a divisor of 91 instead of 100, to automatically adjust your R7 shares for the 9% extra HashRate!

==

Also: Bitmine specs are 25GH/s per Bitmine ASIC chip in normal mode, up to *40* GH/s per ASIC in Turbo mode!

Therefore: this 800GH/s rig we bought can do 1280 GH/s in Turbo mode! You'll also get 9% extra hashrate automatically added on top of that!


Keep in mind: since we'll have more focused A/C cooling then your usual server room, if the Rig can handle it without letting out the magic smoke, then we're going to incrementally overclock even further while carefully monitoring temps/performance/error rates.

Holy cow! Serious? Sounds like a bored mod.

Does anyone speak jive on this plane?

"Kudasay can't hang!"

Hi Frank,

As far as I'm concerned: You're all paid up. It's just going to take a while to add your Paypal funds to the BTC wallet as it takes 1-2 weeks for us to get funds from eBay shares, which means those funds have to be floated if we include them in the Round's purchases.

I actually got your letter w/ eBay GB details out today. Couldn't get to it yesterday & Post Office was closed on Monday.

No worries though, there's no concerns about you not paying; it's just going to take a while for your funds to show up, which is why we're sometimes hesitant to use PP for Group Buys (that and eBay/PayPal doesn't like it when we get around their proctology exams (AKA as their exorbitant fees)) because it can slow down things for the co-op when we're buying hardware.

Since your shares will be part of the included small UPS fund, and the hardware is already purchased, this isn't a concern at the moment.

Done, thanks. I actually added it to Post #2, the Payment Details post.

==

Also, please note: if you buy 4 shares in this Round 9 at ~$492, you're spending less than half, but buying 80% of the exact same Black Arrow + Bitfury board, at the same hashrate that's selling for $1000 (or more) elsewhere. This is the same exact board & ASIC chips (with the added bonus of 1 month free hosting* ).

Round 9: 4 shares = $492 = 33.36 - 40GH/s (should overclock a little further) Versus $1000 = 41.7 - 50 GH/s, for the same Black Arrow Bitfury board.

It also appears to be a better deal than a $400 ASICminer board running at 10.7 GH/s, which is the next competitive option in this price range.


*Note: 0.5% management fees still apply for the first month of Hosting.