[Group Buy] Avalon ASIC Batch 3 [CLOSED- Seven 4 module Avalons ordered]

[CoinHoarder]

I can't believe everyone is just blindly piling on and sending some random guy on the internet their hard earned BTC.  Yes, the way bitcoins are going, it's hard not to get excited.  However, if you only take brief look in the securities and/or scam forums, you only have to see how many shared mining operations went bust. Even the ones that didn't and were run by established members of Bitcointalk (ie. Gigavps, Amazinggrando etc) have resulted in major losses for their investors.

Worse yet, those operations actually had contracts and still folded despite being verified by the GLBSE stock exchange.  However, with Coinhoarder's operation, you are paying first and hoping for the best.  You're buying him four Avalons with nothing in writing.

In the words of Avalon... you just gotta trust me. No one is forcing anybody to do anything. I have provided verification of my exact identity and address to several investors. I have no intentions of scamming anyone, I only wish to provide an Avalon for people who can't afford one. If that is too risky for you, then don't invest with me please.

I am sorry things are not very well organized, this was a last minute thing that I did not expect to get so much interest in. But, that being said, it is still well within my means to provide such a service to you guys.

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[JerimiahJohnson]

Im down for 60 BTC

Lets get this done.


Confirmation of transaction:
"CoinHoarder: cycloid, yep got it.. 63.1265 BTC"

has an account for almost a year.

Has only 4 posts.

yet hes contributing all but 10 coins to the purchase?

why would he not just get 10 more coins somewhere and buy his own? He could probably even find someone to loan it to him if he really needed to....

I dont know you and im not making any accusations but that looks mad fishy man.

[Frankie Delaney]

I can't believe everyone is just blindly piling on and sending some random guy on the internet their hard earned BTC.  Yes, the way bitcoins are going, it's hard not to get excited.  However, if you only take brief look in the securities and/or scam forums, you only have to see how many shared mining operations went bust. Even the ones that didn't and were run by established members of Bitcointalk (ie. Gigavps, Amazinggrando etc) have resulted in major losses for their investors.

Worse yet, those operations actually had contracts and still folded despite being verified by the GLBSE stock exchange.  However, with Coinhoarder's operation, you are paying first and hoping for the best.  You're buying him four Avalons with nothing in writing.  Examples of problem scenarios - BTC value skyrockets, at this time he could just return your BTC and continue mining on Avalons bought with interest-free loan.  If BTC plummets, he could just buy coins on the cheap and repay you as well and call it even.

Don't worry, if he takes off with the money/hardware, we can always give him a scammer tag.

[jubalix]

It certainly is amazing. Since this has gained so much traction:

1) Are you planning on writing up a contract? My father has informed me I need a contract, however I don't see how I can make anyone sign anything, much less EVERYONE. I am not sure what I'm going to do about this. The money is starting to get too large where maybe a contract is definately needed. I just don't want everyone to turn around and call me a scammer because I all the sudden require a contract.
2) Will you be looking into storage locations, etc? It seems that at ~.12 Kwh you were planning on running this at home (many industrial settings seem to have lower electricty costs). I will definitely look into beefing up security around here, but I still plan to run these from home. I might get a nice security system or something. But, again, I'm only charging 3%, so all this stuff will really eat into my profit, maybe making it not even worth doing.
3) Insurance? Does Avalon offer warranties, etc? Avalon doesn't give warranties, but I could get renters insurance which will cover everything inside my duplex.

All of these things are up for negotiation. If you guys want to take part of the proceeds and beef up security, get good insurance, etc. I'm all for that. I am just interested in collecting funds right now. We can sort through all the details later.

Ok B.Laws here


By your advert, and taking money you have already have entered into and written up a contract, your terms were clear imho, so dont waste time/ money writing up a contract you have alredy executed and written up. I mean you can if you wnt to jut to have it all in one place

You would probally be wise to take out at least insurance

The other issue is, the insurance while it may cover the value of the rigs it will not cover the cost to return BTC if BTCs go up


one other question was you do not seem to have a delivery date on these avalons? When are they supposed to arrive and who covers the shipping insurance?

It's not a contract if there is no explicit agreement between two parties. The way it's looking now it seems like a bunch of people just sent him bitcoins... No offense but I just don't see this ending well as is the case with plans that are rushed into and not formally organized. For pete's sake, he doesn't even have an OTC. I don't see any insurance for any of you guys, even if he doesn't have the intentions to scam right now. Who know's what the future holds?

You may argue the exact meaning of terms, but his terms are failry explicit. Sure there are some terms left out eg inurance, etc etc etc. he does however have sufficent terms and consideration for a contract (though acourt may have problems with bitcoinas good consideration). Yes its risky, but then perhapsthere isreward where there is risk, by explicit agreement you may be refering to a meeting of the minds. The courts are full of people who thought they had specificly thought thye knew what the had agreed to but find out infact they had not. I highly recomend some contracts 101 for you

He clearly has invitation to treat, specific terms, and recieved conisderation ( good conisderation maybe not?). There would be a bundle of imported terms from his local jursidiction. further there may also be equitable relief for actions based on his promises/ representations and any detrimental reliance on them.

Not that it would ever be worth pursueing in any court or forum

Me I trust the guy, and will take a punt

He answers my question quickly, know whats amps his circuts are on, knows what 3 phase power is and displays he is running rigs already, and has returned depositers money, for what a lot of organisation effort on his side. He appears to have a passion for it.

Sorry about my tryping on ipad and always was a crap speller.

B.Eng.Hons/B.Laws (LLB)

Also he may not be in the usa as 240 v? 110 v there isnt it....Australia has 240v

[CoinHoarder]

  Ok... thank you trolls for your expert advice. Surely no one has ever thought of these things you're all saying before, so I thank you for pointing them out...


This group buy is hereby terminated. DO NOT SEND ME ANY MORE COINS!

All unused coins will be refunded to the investors that are not included in the group buy within the next 24-48 hours.

It will take me maybe a few days up to a week to determine ownership of the investors in the FOUR four module 85Gh Avalons. Please bear with me as I get this information together. I will need to go through hundreds of transactions and millions of PMs/replies here on BTCTalk and Btc-e.

Thank you for those that put your trust in me, I will not let you down. Don't let the haters cloud your judgement of the worth your investment. I think we are all going to make a lot of BTC together.  

[chriswen]

Awwwwwwwwwwww

[CoinHoarder]

Awwwwwwwwwwww

Sorry bro, as trolling has picked up, the flow of coins has stopped. I don't think there's any way we're raising enough for another Avalon tonight.

I haven't slept in almost two days getting these group buys together for everyone and I hope everyone appreciates that.

I am going to go get some much needed rest. And remember people, I work 8-5 so I am usually unavailable during that time. Thanks everyone

[jubalix]

Ok... thank you trolls for your expert advice. Surely no one has ever thought of these things you're all saying before, so I thank you for pointing them out...


This group buy is hereby terminated. DO NOT SEND ME ANY MORE COINS!

All unused coins will be refunded to the investors that are not included in the group buy within the next 24-48 hours.

It will take me maybe a few days up to a week to determine ownership of the investors in the FOUR four module 85Gh Avalons. Please bear with me as I get this information together. I will need to go through hundreds of transactions and millions of PMs/replies here on BTCTalk and Btc-e.

Thank you for those that put your trust in me, I will not let you down. Don't let the haters cloud your judgement of the worth your investment. I think we are all going to make a lot of BTC together.  

Did my 1 btc get through in time ?.....

[CoinHoarder]

Did my 1 btc get through in time ?.....

Anyone that deposited right before or after my last post that we bought the fourth Avalon, then you are probably not included in the group buy.

[Bogart]

Suggest you update thread subject to indicate GB is closed.

[jaeyjay]

I'm wondering if you included the PSU with the order.
http://store.avalon-asics.com/?product=avalon-asic-unit
From the site: “without power supply” option highly encouraged as it is known to have less problems in customs!

[CoinHoarder]

I'm wondering if you included the PSU with the order.
http://store.avalon-asics.com/?product=avalon-asic-unit
From the site: “without power supply” option highly encouraged as it is known to have less problems in customs!

Yes. All Avalons were bought with the extra module and a PSU

[CoinHoarder]

Ok, I'm really serious. I'm not answering any questions or anything until tomorrow after I get off work.

Don't worry, your funds are safe. I will figure out who owns what in the next few days. Just bear with me, there's a ton of work to do on my end. I wish I would have charged a higher percentage actually because I am working my ASS off for this group buy...

So please, let me take a break the rest of the night and I will be with you all tomorrow.

Thanks and goodnight,

CoinHoarder

[SebastianJu]

I'm wondering if you included the PSU with the order.
http://store.avalon-asics.com/?product=avalon-asic-unit
From the site: “without power supply” option highly encouraged as it is known to have less problems in customs!

Yes. All Avalons were bought with the extra module and a PSU

Didnt you say you bought without PSU because you have some lying around?
I really think 2.1BTC for shipping and 2BTC for a psu is really high price. I mean who buys a psu for $150 and shipping for that price seems much too.

[chriswen]

Hmmm, if the costs are more than 100 bitcoin it might be a better idea to pay for it now instead of using the first dividends to pay off all those extra costs.

[jubalix]

Ok, I'm really serious. I'm not answering any questions or anything until tomorrow after I get off work.

Don't worry, your funds are safe. I will figure out who owns what in the next few days. Just bear with me, there's a ton of work to do on my end. I wish I would have charged a higher percentage actually because I am working my ASS off for this group buy...

So please, let me take a break the rest of the night and I will be with you all tomorrow.

Thanks and goodnight,

CoinHoarder

See i told you he was working his ass of, it takes quite. Bit of time to make all the spreadsheat and anwers he did, not likely a faker....

[SebastianJu]

See i told you he was working his ass of, it takes quite. Bit of time to make all the spreadsheat and anwers he did, not likely a faker....

I wouldnt see this as proof. If you would be a scammer and would see thousands of dollars are coming in you probably would stay alerted too. That doesnt mean that i dont trust him.

[relm9]

I went into this taking the risk into account and personally I trust him. Not to mention pulling a fast one would ruin his name in the community and any rep he has built up, cutting him out from organizing similar buys in the future. Assuming this group buy ends up being a success he could potentially make even more money down the road as new ASICs inevitably come out people would trust him to host them.

So really...  I think it is in his best interest not to scam anyone.

Keep up the good work

[Frankie Delaney]

I went into this taking the risk into account and personally I trust him. Not to mention pulling a fast one would ruin his name in the community and any rep he has built up, cutting him out from organizing similar buys in the future. Assuming this group buy ends up being a success he could potentially make even more money down the road as new ASICs inevitably come out people would trust him to host them.

So really...  I think it is in his best interest not to scam anyone.

Keep up the good work

Listen to this man folks. If this guy takes off with $30 grand, there's no way he'll be trusted with $30 grand next time. His reputation related to this specific screen name is on the line here.

Ok, I'm really serious. I'm not answering any questions or anything until tomorrow after I get off work.

All unused coins will be refunded to the investors that are not included in the group buy within the next 24-48 hours.

This is how it starts. "i'm too busy to answer questions" and vague promises of refunds in the future.

[miter_myles]

I went into this taking the risk into account and personally I trust him. Not to mention pulling a fast one would ruin his name in the community and any rep he has built up, cutting him out from organizing similar buys in the future. Assuming this group buy ends up being a success he could potentially make even more money down the road as new ASICs inevitably come out people would trust him to host them.

So really...  I think it is in his best interest not to scam anyone.

Keep up the good work

Listen to this man folks. If this guy takes off with $30 grand, there's no way he'll be trusted with $30 grand next time. His reputation related to this specific screen name is on the line here.

Ok, I'm really serious. I'm not answering any questions or anything until tomorrow after I get off work.

All unused coins will be refunded to the investors that are not included in the group buy within the next 24-48 hours.

This is how it starts. "i'm too busy to answer questions" and vague promises of refunds in the future.