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

[CoinHoarder]

Hello everyone. I just wanted to introduce myself. I'm excited to be a part of the group. I got 8 BTC in the mix!

Does that equate to roughly a 1/103 (8btc/824btc)? Just checking to see if I have roughly the right numbers. Also, with 8 4mod units we have 640,000 mh? or 640/gh.  I enjoy a little trading and collecting. Thanks for any help out there.

I think when I was really sleepy in a couple posts I might of said I ordered 8 four module Avalons. However, the group only raised enough to buy 7 four module Avalons (you can check the block chain of the group fund address if you don't believe me.)

That's an estimated 595,000 Mh @ 5600 watts.

[dchou]

Yes! Out of posting purgatory....

I'm getting a hardware breakeven of 2 weeks, which would be phenomenal!  Of course, that is at the current difficulty rate.

[CoinHoarder]

Yes! Out of posting purgatory....

I'm getting a hardware breakeven of 2 weeks, which would be phenomenal!  Of course, that is at the current difficulty rate.

Congrats    

You must add all Batch 2 Avalons to the current network speed. I believe in Batch 2 they did not have the 4 module option, so this would be a crude difficulty estimate:

37800 + 49600              X
------------------ = ------------------         X= 12210264.5766129
49600                     6,929,395

37800 = Batch 2 Avalons (600 Batch 2 units * 63Gh each = 37800 Gh)
49600 = Current Network Speed
6,929,395 = Next estimated difficulty
X = Estimated difficulty with all Batch 2 Avalons hashing

Also, there are still some Batch 1 Avalons that haven't been delivered yet.

[dchou]

Closer to 1 month breakeven then.

Those guys at Avalon priced it right.

[CoinHoarder]

Closer to 1 month breakeven then.

Those guys at Avalon priced it right.

Yes sir, I think it is a fair price.

Even if BFL starts shipping, I doubt they'll ship at a very fast rate where it will affect us too much (judging by the release of their fpga line which took months to fill all their preorders.)

[CoinHoarder]

Ok it's nearly 2:15 AM here. I am done figuring out ownership for the night. I am probably about 50-75% done.

Some of you have PMs because there was a problem with your transaction information, or I needed a payout address.

At least a few of you I have asked to verify your ownership of the bitcoin address you sent funds in with. Don't take this personal, I am just looking out for the other investors in making sure that everyone that will get paid actually invested with us.

For those of you that missed this info, I work 8-5 central time mon-fri and am usually unavailable during those times. Sometimes I have free time to pop in on the forums just to read about things, but not much time to respond to the many PMs, etc. I am dealing with. So please excuse me if I don't get back to you until the evening.

Thanks ya'll and good night.

[samborambo]

Hello everyone. I just wanted to introduce myself. I'm excited to be a part of the group. I got 8 BTC in the mix!

Does that equate to roughly a 1/103 (8btc/824btc)? Just checking to see if I have roughly the right numbers. Also, with 8 4mod units we have 640,000 mh? or 640/gh.  I enjoy a little trading and collecting. Thanks for any help out there.

Hi, I've been working on the numbers all night and am maybe about 1/2 through confirming investors deposits, payout addresses, and forum names. I took a break to check the forums and.. umm... crunch some more numbers.

A crude estimate of your monthly portion of the profits can be calculated by using the following formula:

(X-409.08) * .98 * .97 * (Y/715.694) = Your portion of profit in USD

Note: Enter X in USD and Y in BTC
X= Net profit (without power costs/pool fee/my fee)
409.08 = Power costs I expect to be about $409.08/month
.98 = pools 2% fee (may be a little more or less depending on what pool we choose)
.97 = my 3% fee
Y= your investment in BTC
715.694 = total amount invested in BTC (this number is not exact, but very close)

With the above formula, use any Bitcoin mining calculator with these numbers: 595,000 Mh @ 5600 watts.

I hope my above math is correct, someone please check me. I have been dealing with numbers with many decimal places for hours now.. at my day job aswell..    

Thanks CH. Sounds legit.

If the 30 day break even is correct, the mining sindicate should average one block mined every day. So why join a pool?

Sam.

[spinner]

Hello everyone. I just wanted to introduce myself. I'm excited to be a part of the group. I got 8 BTC in the mix!

Does that equate to roughly a 1/103 (8btc/824btc)? Just checking to see if I have roughly the right numbers. Also, with 8 4mod units we have 640,000 mh? or 640/gh.  I enjoy a little trading and collecting. Thanks for any help out there.

Hi, I've been working on the numbers all night and am maybe about 1/2 through confirming investors deposits, payout addresses, and forum names. I took a break to check the forums and.. umm... crunch some more numbers.

A crude estimate of your monthly portion of the profits can be calculated by using the following formula:

(X-409.08) * .98 * .97 * (Y/715.694) = Your portion of profit in USD

Note: Enter X in USD and Y in BTC
X= Net profit (without power costs/pool fee/my fee)
409.08 = Power costs I expect to be about $409.08/month
.98 = pools 2% fee (may be a little more or less depending on what pool we choose)
.97 = my 3% fee
Y= your investment in BTC
715.694 = total amount invested in BTC (this number is not exact, but very close)

With the above formula, use any Bitcoin mining calculator with these numbers: 595,000 Mh @ 5600 watts.

I hope my above math is correct, someone please check me. I have been dealing with numbers with many decimal places for hours now.. at my day job aswell..    

Thanks CH. Sounds legit.

If the 30 day break even is correct, the mining sindicate should average one block mined every day. So why join a pool?

Sam.

If they ship all together that may make sense.  If they ship individually then starting out with a pool will more evenly spread the risk.

[DrG]

Hello everyone. I just wanted to introduce myself. I'm excited to be a part of the group. I got 8 BTC in the mix!

Does that equate to roughly a 1/103 (8btc/824btc)? Just checking to see if I have roughly the right numbers. Also, with 8 4mod units we have 640,000 mh? or 640/gh.  I enjoy a little trading and collecting. Thanks for any help out there.

Hi, I've been working on the numbers all night and am maybe about 1/2 through confirming investors deposits, payout addresses, and forum names. I took a break to check the forums and.. umm... crunch some more numbers.

A crude estimate of your monthly portion of the profits can be calculated by using the following formula:

(X-409.08) * .98 * .97 * (Y/715.694) = Your portion of profit in USD

Note: Enter X in USD and Y in BTC
X= Net profit (without power costs/pool fee/my fee)
409.08 = Power costs I expect to be about $409.08/month
.98 = pools 2% fee (may be a little more or less depending on what pool we choose)
.97 = my 3% fee
Y= your investment in BTC
715.694 = total amount invested in BTC (this number is not exact, but very close)

With the above formula, use any Bitcoin mining calculator with these numbers: 595,000 Mh @ 5600 watts.

I hope my above math is correct, someone please check me. I have been dealing with numbers with many decimal places for hours now.. at my day job aswell..    

Thanks CH. Sounds legit.

If the 30 day break even is correct, the mining sindicate should average one block mined every day. So why join a pool?

Sam.

Because even if you had all 7 units at once, on the off chance you have really bad luck and don't get a block for 7 days the difficulty would probably reset to an even higher level.  Think it can't happen.  See how many times BTCGuild has not mined a block for over and 2 or 3 hours (happened frequently for me over there, but then again I am cursed with bad luck).

[wev]

Hello everyone. I just wanted to introduce myself. I'm excited to be a part of the group. I got 8 BTC in the mix!

Does that equate to roughly a 1/103 (8btc/824btc)? Just checking to see if I have roughly the right numbers. Also, with 8 4mod units we have 640,000 mh? or 640/gh.  I enjoy a little trading and collecting. Thanks for any help out there.

Hi, I've been working on the numbers all night and am maybe about 1/2 through confirming investors deposits, payout addresses, and forum names. I took a break to check the forums and.. umm... crunch some more numbers.

A crude estimate of your monthly portion of the profits can be calculated by using the following formula:

(X-409.08) * .98 * .97 * (Y/715.694) = Your portion of profit in USD

Note: Enter X in USD and Y in BTC
X= Net profit (without power costs/pool fee/my fee)
409.08 = Power costs I expect to be about $409.08/month
.98 = pools 2% fee (may be a little more or less depending on what pool we choose)
.97 = my 3% fee
Y= your investment in BTC
715.694 = total amount invested in BTC (this number is not exact, but very close)

With the above formula, use any Bitcoin mining calculator with these numbers: 595,000 Mh @ 5600 watts.

I hope my above math is correct, someone please check me. I have been dealing with numbers with many decimal places for hours now.. at my day job aswell..    

Thanks CH. Sounds legit.

If the 30 day break even is correct, the mining sindicate should average one block mined every day. So why join a pool?

Sam.

Because even if you had all 7 units at once, on the off chance you have really bad luck and don't get a block for 7 days the difficulty would probably reset to an even higher level.  Think it can't happen.  See how many times BTCGuild has not mined a block for over and 2 or 3 hours (happened frequently for me over there, but then again I am cursed with bad luck).

We can have a luck as well... I think when ASICs'll arrive we should just vote. We can also mine in pool for some time and then start solo mining.
It is just a thought.

[norman]

If the 30 day break even is correct, the mining sindicate should average one block mined every day. So why join a pool?

What is the downside of a pool?  Is it just the overhead of the pool fee, or am I missing something else?

[theGECK]

Just out of curiosity, how many people do we have in this group buy?

As far as the downside of a pool goes, the fee is the biggest one. Would mining with p2pool be an option?

[chrcoe01]

it would definitely be nice to see some sort of automated page setup where each user can at least check their earnings when it all goes online.

[chriswen]

I only own 1.03 btc share.

I was thinking it'll probably take 1 month to break even.  ASICMiner might also be releasing a lot of shares.  And if BTC/USD doesn't crash it'll be even more gain.

[louhija]

I'm out of the Silent Hill!

So, hi everyone, I managed to slip 10 btc in. Waiting for the money machine to get started. Happy to give aid in the process if needed.

[Roujo]

Same here. I wish I could have hosted a Group Buy, as electricity is just 0.0775 $/kWh where I live, but having no reputation whatsoever... It probably wouldn't have worked out. =P

[ibminer]

Can't wait for CH to get these things hashing!  Thanks for the effort CH!

[foo]

Just out of curiosity, how many people do we have in this group buy?

As far as the downside of a pool goes, the fee is the biggest one. Would mining with p2pool be an option?

+1 for p2pool. We would approximately triple the size of p2pool's hash rate, so compared to mining solo it would be about a 50% reduction of variance, for free.

Stats: http://p2pool.info/

[CoinHoarder]

Just out of curiosity, how many people do we have in this group buy?

I will know in a couple days or so. Some people sent in funds two/three/four times, so I'm still working on this.

As for the pool discussion, we have a while to decide what we will do in regards to that. I'd like to hear more investor's opinions when it comes to what pool we should use, solo mining, or p2pool.

I had a 4:30 meeting that lasted until 7 tonight  , but the rest of my night is going to be dedicated to figuring out ownership interest. I have about 14 PMs that I need to respond to, that is first on my to do list.

Cheers,

Ch

[Syke]

p2pool is not an option at this time, there's too many issues with Avalon mining on p2pool. Hopefully the issues will be fixed before batch-2 ships.