iBelink DM11G - Group Buy - Cancelled

[IOTUSA]

What kind of contingency do we have here if we get to 50 and then one guy at the last minute has an issue with the wire transfer and we end up at 47?

Would the deal then be dead?

No, I am sure we would step up and buy the extra couple.  No way would we let it go for 3 units or whatever

I have some room personally to pickup extra units. I simply don't want to over commit to something that is 2+ months out in time but rather only book what I am 100% certain that I can pay for. That said, from the forum response to the miner so far it would seem exceptionally unlikely that it would be hard to resell a unit or two if needed to cover any 'late dropouts'.

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[newtybar]

Would be interested in 1, how come it is 100% and not 50% deposit?

It would be 100% to escrow and then escrow would send the other 50% at shipping time.  That avoids trying to collect money from 50+ people 2-3 months from now.  It would suck if the miners are ready and a bunch of people have not paid the second portion.

Sounds reasonable, thanks for the concise answer.  Put me down for 1.

[kilo17]

Would be interested in 1, how come it is 100% and not 50% deposit?

It would be 100% to escrow and then escrow would send the other 50% at shipping time.  That avoids trying to collect money from 50+ people 2-3 months from now.  It would suck if the miners are ready and a bunch of people have not paid the second portion.

Sounds reasonable, thanks for the concise answer.  Put me down for 1.

Updated list--

[Truthchanter]

I am interested in 1!

[kilo17]

I am interested in 1!

Updating list again. 

[drsub]

Just so everyone is aware, i've been monitoring the miner at the pool and the hashrate has dropped today to 7.2-7.5 ghs, its been like this for the last 3-4 hours.
Right now its currently hashrate is @ 7.31 GH/s, something to watch for!

[philipma1957]

   Just got home from a real world event. (Funeral)
 Jeese 500,000   my gut says do this but  let me think this over and get more details  as that  is 10x  what I have ever held or done.

At kilo17  please pm some extra info.

As to how the seller/builder wants payment sent to their company.

No promises as to me doing this  as it is quite  a bit of  $$$

[Truthchanter]

Just so everyone is aware, i've been monitoring the miner at the pool and the hashrate has dropped today to 7.2-7.5 ghs, its been like this for the last 3-4 hours.
Right now its currently hashrate is @ 7.31 GH/s, something to watch for!

1 of the 4 boards died/turned off maybe? Does look odd. At least we know iBeLink made a similar, yet slower miner last year so that makes it a bit less likely that this one is iffy

[kilo17]

  Just got home from a real world event. (Funeral)
 Jeese 500,000   my gut says do this but  let me think this over and get more details  as that  is 10x  what I have ever held or done.

At kilo17  please pm some extra info.

As to how the seller/builder wants payment sent to their company.

No promises as to me doing this  as it is quite  a bit of  $$$

Taking my wife and son out.  I will PM the actual contract to you as well as additional info.  You would only need to do the community side for a total of 50 units or $250,000.   We will handle the other 50 from our side.  

Sorry about your loss.

You are the most trustworthy person on the forum and I have complete faith and trust.

[pikachuy]

Can you elaborate on why the Friday deadline?

Why are these purchasing contracts for these so short on time?

From what I know the manufacturer is ready to start the production of units and have given any Batch 1 customers a deadline to show up in Beijing in person and sign contracts.

There are several groups that are buying miners from the first production batch. The terms are the same for all groups, and one of the requirements is 100 units minimum order quantity. That's it.

If there are several groups and the minimum is 100 units, imagine the nuclear difficulty that it's going have on DASH.

Network hashrate for DASH is about 3TH, so if each iBelink DM11G does 10GH x 100 units = 1TH x 2 Group Buys = 2TH.

So that is more than half of the network hash added that is going be online. Anyone know how to calculate profits with the difficulty when that much is added? Lol

It seems pretty unrealistic to me that with current calculations, it says ROI is 30 days or less even at 0.30c kilowatt.

On that note, I'm down for this unicorn ride. Count me in as 1 if only philipma1957 is escrow, I trust him with my money. Did group buys with him before. I can only send bank wire. Hope you got a good tax accountant philipma1957, lol. Let me think for now. LOL

[Starkz]

When will these ship from the manufacturer?
 

[CjMapope]

Damn, i need to see here how liquid i am before i can commit, but i just wanna say i think the way your handling this is much more honest and that users will be in better hands with you (and Phil IF he holds the money)
its a bit concerning personally i have not seen the pool info live over around 8GH, but damn, if they announced "8GH 760 watts" i would STILL be as interested.
why no contact on the forum from them? maybe their account got hacked in one of the old database robberies and they ashamed to/cant recover it haha

greeds a bitch, TY for not needing TWENTY-FOUR FREE MACHINES to organize this! ;p

[pikachuy]

Forgot to mention, is anyone from the group going to see the actual product in person to verify? None of the videos show that it is getting a constant 10+ GH or am I not seeing it somewhere and just not spikes?

Edit: Originally the Baikal only did x11 also, and then later, it was able to do X11, X13, X14, X15, Qubit, Quark through an update. Would this iBelink DM11G be able to achieve the same thing? Would hate that it's only limited to just 1 algorithm.

[tarnum]

I am up for 1 unit too, but I think we should buy services of verification like "SGS"

[kilo17]

I am up for 1 unit too, but I think we should buy services of verification like "SGS"

In an ideal world that would be a good idea.   

[Longsnowsm]

Forgot to mention, is anyone from the group going to see the actual product in person to verify? None of the videos show that it is getting a constant 10+ GH or am I not seeing it somewhere and just not spikes?

Edit: Originally the Baikal only did x11 also, and then later, it was able to do X11, X13, X14, X15, Qubit, Quark through an update. Would this iBelink DM11G be able to achieve the same thing? Would hate that it's only limited to just 1 algorithm.

So far watching this miner online it is not hashing anywhere near the advertised 10.8gh.  http://106.120.52.201:7903/static/

Also this isn't iBelink's first miner.  They had a previous model that only supported X11 and that has not changed.  Baikal is just several steps ahead of the iBelink folks in their miner development.  So I don't know that I would count on the iBelink supporting additional protocols.

[kilo17]

Damn, i need to see here how liquid i am before i can commit, but i just wanna say i think the way your handling this is much more honest and that users will be in better hands with you (and Phil IF he holds the money)
its a bit concerning personally i have not seen the pool info live over around 8GH, but damn, if they announced "8GH 760 watts" i would STILL be as interested.
why no contact on the forum from them? maybe their account got hacked in one of the old database robberies and they ashamed to/cant recover it haha

greeds a bitch, TY for not needing TWENTY-FOUR FREE MACHINES to organize this! ;p

You are welcome- btw- The $300/unit that is shown for me will remain in escrow until all units are received by the buyers.  It will also be used to cover any expenses like taxes, duties etc.  and maybe a few dollars left over.

[kilo17]

Forgot to mention, is anyone from the group going to see the actual product in person to verify? None of the videos show that it is getting a constant 10+ GH or am I not seeing it somewhere and just not spikes?

Edit: Originally the Baikal only did x11 also, and then later, it was able to do X11, X13, X14, X15, Qubit, Quark through an update. Would this iBelink DM11G be able to achieve the same thing? Would hate that it's only limited to just 1 algorithm.

So far watching this miner online it is not hashing anywhere near the advertised 10.8gh.  http://106.120.52.201:7903/static/

Also this isn't iBelink's first miner.  They had a previous model that only supported X11 and that has not changed.  Baikal is just several steps ahead of the iBelink folks in their miner development.  So I don't know that I would count on the iBelink supporting additional protocols.

I know they were having software issues.  Any concerns will be addressed PRIOR to money being transferred.  I will address those with the manufacturer after we hit the 50 unit mark

[philipma1957]

note posted in both threads:

I read both threads just now. I commented that I may do the escrow on kilo17's thread before I realized this thread was first.
I was away from home Sunday Monday Tuesday attending an Aunt's funeral.

Okay passing no judgement on bittawm or kilo17

Passing no judgement on the builder.

 Just doing  math  I need an answer to one Question


pretend I pay this friday 5th of may 6700 here.

pretend I pay this friday 5th of may 2500 to kilo17 escrow and then 2500 when item ships.

I need to know lead time  from payment this 5th of may to ship time  are we at a lead-time of 60 days July 5th  or 75 days July 20th  what is that promised time. for ship.

note I am posting this in kilo's thread.

Right now I see 2 people I like and have done deals with good deals.
I see 2 people fighting.

all due to a builder that is asking for a lot of  $$$ upfront.

I don't like to see this.

I don't like seeing us played against on another.

So could some one give me promised date for shipping.

[kilo17]

note posted in both threads:

I read both threads just now. I commented that I may do the escrow on kilo17's thread before I realized this thread was first.
I was away from home Sunday Monday Tuesday attending an Aunt's funeral.

Okay passing no judgement on bittawm or kilo17

Passing no judgement on the builder.

 Just doing  math  I need an answer to one Question


pretend I pay this friday 5th of may 6700 here.

pretend I pay this friday 5th of may 2500 to kilo17 escrow and then 2500 when item ships.

I need to know lead time  from payment this 5th of may to ship time  are we at a lead-time of 60 days July 5th  or 75 days July 20th  what is that promised time. for ship.

note I am posting this in kilo's thread.

Right now I see 2 people I like and have done deals with good deals.
I see 2 people fighting.

all due to a builder that is asking for a lot of  $$$ upfront.

I don't like to see this.

I don't like seeing us played against on another.

So could some one give me promised date for shipping.

I believe ship dates are prior to July 31.  All of the details are in the contract that I would like to send you to look at (PM sent  ) - I will post all the details if you accept being the Escrow.  Without you there really is not much reason to proceed because I am not comfortable with anyone else.