Avalon ASIC #3, 1 Module [HorseRider's Group Buy + Hosting Plan]

[sloper]

I am putting up for auction one module from HorseRider's Avalon resell and hosting plan. Thread with my confirmation of payment here:
https://bitcointalk.org/index.php?topic=158986.0

Some key info taken from above thread:
Order#4929. Advantageous Location in China to minimize shipping/custom time loss.
All units will be mined immediately with earnings distributed according to share as shipments are rolling in. Once all units arrive, units can be reshipped anytime (FYI, he will ship the one module if you wish but obviously not 1/4 PSU). It's a well thought out and egalitarian plan from HorseRider.
The electricity is 0.25USD/kwh and his hosting fee is 10% of the mining revenue.
An automated payment/monitoring system is being made for those on the hosting plan.

Module Cost: 28BTC
Starting bid: 25BTC
Minimum Increment: 0.1BTC
I'm looking to end this auction reasonably soon (within 24 hrs), so let's say 5PM 4/22.
Once sold, we'll get in touch with HorseRider (Please have an email and wallet address ready for him).

About me:
This is my first auction so I apologize for any rough edges.
I will keep posting updates and key information here to serve as a record.
PM me or post here for any questions you may have. Thanks! 

[1715036857]

1715036857

[1715036857]

1715036857

[1715036857]

1715036857

[1715036857]

1715036857

[qwk]

25

[sloper]

Appreciate the first bid!

Current Bid: 25BTC

[ebloo]

25.1

[qwk]

26

[sloper]

Current Bid: 26BTC

Auction will end in 5 hrs. Thanks~

[ebloo]

Unless I miss something, you should have pointed out that time was not UTC...

[sloper]

Unless I miss something, you should have pointed out that time was not UTC...

Sorry, I guess I was bound to mess something up. I'm on PST time and should have mentioned it in the OP.

I'm not sure how to keep this fair for all parties now without a time machine.

If you guys want, we can go back to the original bid of 25BTC. We have a 4hrs and 20 min left.

[maxmint]

I'm sorry, but I'm not really an Avalon expert, so I have some questions:
- Is this auction about one of these? > http://store.avalon-asics.com/?product=avalon-asic-unit
- What exactly is "one module"?
- How much GH/s is one module?

[sloper]

I'm sorry, but I'm not really an Avalon expert, so I have some questions:
- Is this auction about one of these? > http://store.avalon-asics.com/?product=avalon-asic-unit
- What exactly is "one module"?
- How much GH/s is one module?

Hey there,

Avalon sells those units and they come either as a 3-module (63Gh/s) or 4-module (85Gh/s) unit. HorseRider purchased 50 of these units and put up a portion for sell.
He allowed sells for as small as 1 module (~21-22Gh/s), which is what I opted for and what is up for auction now.

Please see his thread in my OP. It should make things more clear.

Thanks!

[alwind]

25.1

[qwk]

26

[alwind]

26

27

[sloper]

Current Bid: 27BTC

Final 2 hrs, thanks.

[qwk]

27.1

[sloper]

Auction finished @ 27.1 by qwk. Sending PM.

[shibaji]

Now that the auction has ended, may be I can say something.

Did it occur to anybody buying into HorseRider's plan, that it has a big loophole ? He lays the rule that till all avalons ordered reach his hand, he will keep on mining with them, and only when all arrive, he will distribute according to resale or rental plan.

Given the flakiness of avalon shipment, this is an absolute losing proposal. Out of his 50 avalon orders, what happens if last 5 avalons arrive 2 months late (or even worse) ? Either:

1. Everyone bought into his plan loses, and he keeps mining happily with technically others miners
2. People start to complain and he is forced to allocate, but who are the buyers for those last 5 avalon - who will suffer the loss ? Is it the last ones to pay - but wait - that was not in the resale/rental clause. Will he man up and absorb that loss ? I am waiting to see.

Rest assured, the probability of arriving all 50 avalons together is very less. It does not matter if they were ordered together (look at Jeremiah Johnson's posts).

Have fun.

[qwk]

Did it occur to anybody buying into HorseRider's plan, that it has a big loophole ? He lays the rule that till all avalons ordered reach his hand, he will keep on mining with them, and only when all arrive, he will distribute according to resale or rental plan.

He will mine on them and distribute proportionally. So, yes, as long as not all the machines are delivered, I can't expect 100% mining output. OTOH, it also provides some risk mitigation.

[sloper]

Now that the auction has ended, may be I can say something.

Did it occur to anybody buying into HorseRider's plan, that it has a big loophole ? He lays the rule that till all avalons ordered reach his hand, he will keep on mining with them, and only when all arrive, he will distribute according to resale or rental plan.

Given the flakiness of avalon shipment, this is an absolute losing proposal. Out of his 50 avalon orders, what happens if last 5 avalons arrive 2 months late (or even worse) ? Either:

1. Everyone bought into his plan loses, and he keeps mining happily with technically others miners
2. People start to complain and he is forced to allocate, but who are the buyers for those last 5 avalon - who will suffer the loss ? Is it the last ones to pay - but wait - that was not in the resale/rental clause. Will he man up and absorb that loss ? I am waiting to see.

Rest assured, the probability of arriving all 50 avalons together is very less. It does not matter if they were ordered together (look at Jeremiah Johnson's posts).

Have fun.

Perhaps you want to post in his thread directly but I understand it as this:
Everyone who's in the plan is getting their cut proportionally based on the mining profits from the units that have arrived until all units have been fully received. There's no queue system.

If there is a long wait until all shipments arrive, your potential loss is whatever saving advantage you have in electricity and his hosting fee. However, at the same time reshipment is costly as well since there's the loss to shipping downtime. So by having him mine immediately, the group's earnings are maximized.

[shibaji]

Did it occur to anybody buying into HorseRider's plan, that it has a big loophole ? He lays the rule that till all avalons ordered reach his hand, he will keep on mining with them, and only when all arrive, he will distribute according to resale or rental plan.

He will mine on them and distribute proportionally. So, yes, as long as not all the machines are delivered, I can't expect 100% mining output. OTOH, it also provides some risk mitigation.

Cool.