[WTS] Shares/Hardware 5 x Avalon Batch 2

[cedivad]

I have a preorder from Avalon and i want to stop thinking about it, so i'm offering to mine with these units in your behalf. If you want to get into ASIC mining with the second batch of avalon, this is a good chance. The units should be shipping during these very days.

The price is 200BTC/unit, not negotiable. If you pay more than 67 BTC you will own a module and will have it shipped, if you pay more than 200 BTC you will own an avalon and have it shipped too. Well, only if you wish to.
I will mine from a secure location (not a datacenter, not my home).
I will be free to refund everyone at any given time and close the deal this way. For example, if i receive only a few requests for a few shares, i will refund everyone and save me from the mess of handling this.
I will take a 3% fee for handling the operations and deduce the electric costs from the payouts.

If you want to own a part of these Avalons, send multiples of 0.5 BTC to 1A8fvPz1MhqSJ2oYbQcYhoLko5UDAmpnNe Shares sold out, please don't send any money. 3BTC ~= 1GH.
You have to send them from an address you will be able to receive in the future, every single payout will be given only to the address that sent the money in first instance. If you plan to communicate with me at a later time, you will also need the private key of that address, to sign the messages. If you want to purchase a whole avalon and have it shipped to your home, you will need to do that with a signed message. If you don't know how to sign a message from the sending address, maybe this service isn't for you.

Example: you want to have 1/10th of an Avalon (~6.5GH), you send 20 BTC to the given address. You will receive the payouts to the address you sent the money from.

To make this more real, here are some photos of the place that will house the Avalons.
I have a very good power grid (no outages in years) and a very stable connection, via 3G, fiber or xdsl dosen't arrive at the place i will be mining.



Full album: http://imgur.com/a/eMqqk

Thank you for your interest.

[Cablez]

That is some premium your are offering.  You wouldn't need to mine at all if you just sold them outright. Let me do some math. Where in Europe are you?

[cedivad]

That is some premium your are offering.  You wouldn't need to mine at all if you just sold them outright. Let me do some math. Where in Europe are you?

Italy, I expect to pay around 600€ monthly for the power usage. After the first months, i will probably send them to a datacenter where i pay less, this once that the units will become less valuable and the power usage will still be important.

From previous experiences, i think i will have problems finding buyers for these amounts, for a product that i don't own yet. This is why i'm offering the units with a shared model, where everyone can bite a bit and risks for buyers are mitigated this way.

[FloridaBear]

That is some premium your are offering.  You wouldn't need to mine at all if you just sold them outright. Let me do some math. Where in Europe are you?

Italy, I expect to pay around 600€ monthly for the power usage. After the first months, i will probably send them to a datacenter where i pay less, this once that the units will become less valuable and the power usage will still be important.

From previous experiences, i think i will have problems finding buyers for these amounts, for a product that i don't own yet. This is why i'm offering the units with a shared model, where everyone can bite a bit and risks for buyers are mitigated this way.

So, €0.28/KWh, and ~$22,000 per unit (this is not out of line based on eBay auctions). Assuming 12 million difficulty, I'm calculating a breakeven of ~68 days. This is still very good compared to most currently available mining stocks.

What happens if an "investor" wants out?

Why don't you consider starting a company at btct.co? Basically you're issuing 2000 shares at 0.5 each. Each share should generate ~0.2 BTC per month after delivery of the units (neglecting electricity costs, which are ~1%). This would be a very attractive offering compared to other mining stocks.

EDIT: Fixed math that was using 3 units instead of 5. D'oh!

[cedivad]

So, €0.46/KWh (wow, that's expensive, but still only about 2% of expected revenue), and ~$22,000 per unit (this is not out of line based on eBay auctions).

650W/unit * 24 hours * 30 days, that's 2340 kWh per month. 600 / 2340 = 0.25€/kWh, this is the calculation i did. Edit, you fixed it

Assuming 12 million difficulty, I'm calculating a breakeven of ~68 days. This is still very good compared to most currently available mining stocks.

Are you suggesting i should rise the price? There is no problem at all from my side
The pricing of 200BTC/each is based on my projections that i've followed for months, i'm pessimistic. It's really up to what one things the difficulty will be 2, 4 and 6 months from now.

If an "investor" wants out, he can simply sell his share privately and sign a message with his private key with the address of the new owner, as simple as that. I don't think this is to be so complex to require a stock exchange.

[rammy2k2]

- so if i pay you 67 BTC i will get a 65Gh Avalon ?
- i live in europe too, do u accept personal pick-up
- u accept escrow on payment in person when i come to pick it up ?

[cedivad]

- so if i pay you 67 BTC i will get a 65Gh Avalon ?
- i live in europe too, do u accept personal pick-up
- u accept escrow on payment in person when i come to pick it up ?

You get 1/3 of an Avalon.
Personal pickup is ok only if you pay in advance to an escrow, that seems fair. However my mind is right now bubbling with a lot of problems that this event could bring, i don't have the time or the will to analyze all of those.
My first goal here is to sell shares, i would rather not handle everything else if possible.

[cedivad]

I'm not getting a lot of interest in these shares, while i receive a lot of requests to sell the hardware. If this is your wish, we can proceed this way:

If you want to use an escrow:
-You send the money to the escrow (like John K) now
-When i receive the hardware, i send it to the escrow
-The escrow receives it and reship it to your destination
This process would take at least one week of lost earnings, plus delivering this parcel around the world timely will be extremely expensive (something like 1000€ for 2 shippings)

If you don't want to use an escrow:
-You pay me to the address in the first post
-As soon as i receive the package i will arrange a first class shipping to your destination, i will take a video of me closing the box with the avalon and giving it to the courier, i will also give you the tracking immediately.

[emanymton]

deposit of 250btc has been paid for all 5 units.
transaction id: 18bcb8cf-b0b9-462f-9048-982b3df56370.
the remaining balance will be paid when the shipping is confirmed 

[cedivad]

deposit of 250btc has been paid for all 5 units.
transaction id: 18bcb8cf-b0b9-462f-9048-982b3df56370.
the remaining balance will be paid when the shipping is confirmed  

I confirm to have received the payment, the sale is closed!
A warm thank you to the guy that is trusting me with this load of money - I'm proud of it and i won't be disappointing!

[cedivad]

deposit of 250btc has been paid for all 5 units.
transaction id: 18bcb8cf-b0b9-462f-9048-982b3df56370.
the remaining balance will be paid when the shipping is confirmed  

I confirm to have received the payment, the sale is closed!
A warm thank you to the guy that is trusting me with this load of money - I'm proud of it and i won't be disappointing!

emanymton decided to withdrawn his offer and got his 250btc refunded.

I reopen the sale; shares or shipped hardware, with or without escrow, send me your offers.

[ArcologyPrime]

These avalons are to arrive in Italy, correct? If so, how difficult will it be to ship to the US?

Would you accept payment in USD via escrow?

[cedivad]

These avalons are to arrive in Italy, correct? If so, how difficult will it be to ship to the US?

Would you accept payment in USD via escrow?

I prefer to use BTC, regardless of the bitcoin price going up or down during the escrow process. Shipping them back to the US should be fast and painless (you don't have to pay customs etc), however we have to find an US escrow that will reship the units to you.

[ArcologyPrime]

Escrows for this kind of hardware have you ship directly to the consumer. The cash is released to you on proof of delivery. They send it to me, signature required, I open, verify the item, then sign for it, you get your money. I'm pretty sure escrow.com doesn't care where you're from, that is the service I was intending to use.

[cedivad]

Escrows for this kind of hardware have you ship directly to the consumer. The cash is released to you on proof of delivery. They send it to me, signature required, I open, verify the item, then sign for it, you get your money. I'm pretty sure escrow.com doesn't care where you're from, that is the service I was intending to use.

I'm sorry, but that's not gonna happen. (want BTC, not USD; want a trusted escrow in this community to verify that they are in fact working Avalon miners, not a third party website i have no trust in it, regardless of their shiny banners).

Thanks anyway for your interest.

[ArcologyPrime]

I'm sorry, but that's not gonna happen. (want BTC, not USD; want a trusted escrow in this community to verify that they are in fact working Avalon miners, not a third party website i have no trust in it, regardless of their shiny banners).

Thanks anyway for your interest.

Escrow.com not trusted? They were doing escrows for domain names years before bitcoin existed, and have been in the escrow business in the real world since 1998. No offense to JohnK and the other bitcoin escrows, but I'm new to this forum and I'm not about to convert $25-50k us into bitcoins (at significant overhead) just to use their services.  If i had funds in Mt. Gox or btc-e already, sure, but to purchase capital? No way.

I thought the idea behind bitcoin mining was to get as much hashrate under the control of as many different people as possible to preserve the system. If the people who wish to sell aren't interested in selling to those who aren't already in the system, that's not going to ever happen.

[alwind]

I'm sorry, but that's not gonna happen. (want BTC, not USD; want a trusted escrow in this community to verify that they are in fact working Avalon miners, not a third party website i have no trust in it, regardless of their shiny banners).

Thanks anyway for your interest.

Escrow.com not trusted? They were doing escrows for domain names years before bitcoin existed, and have been in the escrow business in the real world since 1998. No offense to JohnK and the other bitcoin escrows, but I'm new to this forum and I'm not about to convert $25-50k us into bitcoins (at significant overhead) just to use their services.  If i had funds in Mt. Gox or btc-e already, sure, but to purchase capital? No way.

I thought the idea behind bitcoin mining was to get as much hashrate under the control of as many different people as possible to preserve the system. If the people who wish to sell aren't interested in selling to those who aren't already in the system, that's not going to ever happen.

Its his choice how he wants to sell it.

Did you already sell some shares?

[cedivad]

I thought the idea behind bitcoin mining was to get as much hashrate under the control of as many different people as possible to preserve the system. If the people who wish to sell aren't interested in selling to those who aren't already in the system, that's not going to ever happen.

Well, the point is to have them in the hands of trustful people - and i trust myself not do try to do a 51% attack.

Escrow.com not trusted? They were doing escrows for domain names years before bitcoin existed, and have been in the escrow business in the real world since 1998. No offense to JohnK and the other bitcoin escrows, but I'm new to this forum and I'm not about to convert $25-50k us into bitcoins (at significant overhead) just to use their services.  If i had funds in Mt. Gox or btc-e already, sure, but to purchase capital? No way.

I'm not saying that escrow.com is not trusted, i'm saying that i don't trust them to handle this kind of business. This is not a domain name transfer. Do we agree with this point?
I understand that putting money into the BTC ecosystem is indeed a problem. You could try to do it off-excanges, like with TangibleCryptography, that is a very trusted member of this community.

I'm sorry for these problems, and fell free to call me crazy, but i prefer 100BTC mined from the Avalons over 20kUSD anytime, escrow or not, etc.

Sorry for wasting your time.

Did you already sell some shares?

I was contacted before for 22BTC of shares, however he has yet do make the payment, so maybe he changed idea. (he wanted me to lend him money so that he could bid a bigger amount...)

[ArcologyPrime]

I'm not saying that escrow.com is not trusted, i'm saying that i don't trust them to handle this kind of business. This is not a domain name transfer. Do we agree with this point?

Yes, it's not a domain name transfer, and that is their primary business online and if you've never done physical property with them, I can understand your reluctance somewhate, but since the BTC escrow process I've seen most commonly use doesnt deliver by proxy, I fail to see the difference, other than that I don't have to pay service fees to get it in BTC.


I understand that putting money into the BTC ecosystem is indeed a problem. You could try to do it off-excanges, like with TangibleCryptography, that is a very trusted member of this community.


Interesting; I didn't see any way to buy BTC this way, though, just sell them for cash.

I'm sorry for these problems, and fell free to call me crazy, but i prefer 100BTC mined from the Avalons over 20kUSD anytime, escrow or not, etc.
That's your perogative; If I lived in europe I might feel the same way.

I'll see if I can get some money into bitcoins in a way that doesn't increase my blood pressure.

[cedivad]

UP.
(and discounts avalible if you don't want to use an escrow, so that i can trade with such btc meanwhile)