iBelink DM11G - Group Buy - Cancelled

[usao]

Wondering where we stand on the total units? Are we over the required minimum?
Also, any news on escrow? Wondering if we are doing BTC or USD. Just want to get my ducks in a row to be ready at the right time.

[1714889165]

1714889165

[Akarabzie]

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

Difficulty is going to skyrocket if 500+ of these units go online. Which will in turn hurt the profitability as time goes on, thats crypto though.

Kilo: I may be down for one of these be right now I'm on the no side. Seems like the only proof we have is one video and tracking hashrate that seems to be dropping or not maintaining the 10GH rating. Having escrow through phil is great and I 100% trust you and the other guys in the group buy, I'm just a little afraid of vaporwaring $5700 down the drain. Is there anything else out there to give a little more confidence in iBelink?

[BITCOINDENMARK]

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

Difficulty is going to skyrocket if 500+ of these units go online. Which will in turn hurt the profitability as time goes on, thats crypto though.

Kilo: I may be down for one of these be right now I'm on the no side. Seems like the only proof we have is one video and tracking hashrate that seems to be dropping or not maintaining the 10GH rating. Having escrow through phil is great and I 100% trust you and the other guys in the group buy, I'm just a little afraid of vaporwaring $5700 down the drain. Is there anything else out there to give a little more confidence in iBelink?

As I understand it, there should not be a risk of vaporwaring 5700,- down the drain, "only" 2500,- if this turn out to be vapor it would be found out before shipping, right ? ;

from op;
"2 - Escrow would need to have the entire amount for 50+ units in his hand by Friday. 
3 - Escrow would be sending the money directly to the manufacturer.  50% on Friday and the balance when the miners are going to ship.

[Sequoia93]

Put me down for one.

[newtybar]

As I understand it, there should not be a risk of vaporwaring 5700,- down the drain, "only" 2500,- if this turn out to be vapor it would be found out before shipping, right ? ;

from op;
"2 - Escrow would need to have the entire amount for 50+ units in his hand by Friday. 
3 - Escrow would be sending the money directly to the manufacturer.  50% on Friday and the balance when the miners are going to ship.

This is how I understand it as well, which makes it much more appealing than other group buy options.  If it doesn't pan out, at least escrow will send us our remaining 50% back.

[DaChronic]

Put me down for 38 units.

[Longsnowsm]

Put me down for 38 units.

@DaChronic to the rescue? LOL 

[jpoker272727]

Put me down for 38 units.

LOL, too good to be true.

Kilo, I just made some calculation and seems that this is very profitable based on calculation here: https://www.cryptocompare.com/mining/calculator/dash?HashingPower=10.8&HashingUnit=GH%2Fs&PowerConsumption=850&CostPerkWh=

This is ROI within a month (by not calculation the electricity), or there is a mistake here?

If in any case there is only one left then I will re-think and maybe order one.

[DaChronic]

I'm being conservative. Wouldn't want to bump anyone off the list.

[Longsnowsm]

Put me down for 38 units.

LOL, too good to be true.

Kilo, I just made some calculation and seems that this is very profitable based on calculation here: https://www.cryptocompare.com/mining/calculator/dash?HashingPower=10.8&HashingUnit=GH%2Fs&PowerConsumption=850&CostPerkWh=

This is ROI within a month (by not calculation the electricity), or there is a mistake here?

If in any case there is only one left then I will re-think and maybe order one.

If iBelink really is building and shipping 3000 units you can throw out all all the calculations for ROI.  Diff is going to the moon, profitability is going to crash.  The only thing you can do is guesstimate what might happen.  

If we were to get some of the first units and started mining like crazy we might see an ROI in 6-8mths IF we are lucky.  I suspect it will quickly go out beyond a year and will be like trying to mine BTC.  Only shot is to get one of these early.  If you pick up one later the chances of ROI look pretty grim.  

Of course that all assumes that these units hash at the advertised rate, which so far the limited look at the one that was online was quite a ways off from the advertised rate.  I am not so sure this thing is ready for prime time.  I would like to see some more data from the miner.  

[Tai_Pan]

If DaChronic will plug in all his miners we're gonna be sent into oblivion with the diff increase.....

[jpoker272727]

Put me down for 38 units.

LOL, too good to be true.

Kilo, I just made some calculation and seems that this is very profitable based on calculation here: https://www.cryptocompare.com/mining/calculator/dash?HashingPower=10.8&HashingUnit=GH%2Fs&PowerConsumption=850&CostPerkWh=

This is ROI within a month (by not calculation the electricity), or there is a mistake here?

If in any case there is only one left then I will re-think and maybe order one.

If iBelink really is building and shipping 3000 units you can throw out all all the calculations for ROI.  Diff is going to the moon, profitability is going to crash.  The only thing you can do is guesstimate what might happen. 

If we were to get some of the first units and started mining like crazy we might see an ROI in 6-8mths IF we are lucky.  I suspect it will quickly go out beyond a year and will be like trying to mine BTC.  Only shot is to get one of these early.  If you pick up one later the chances of ROI look pretty grim. 

Of course that all assumes that these units hash at the advertised rate, which so far the limited look at the one that was online was quite a ways off from the advertised rate.  I am not so sure this thing is ready for prime time.  I would like to see some more data from the miner. 

I didn't think about hash difficulty that would be increased automatically because of this, and it's absurd for them to sell these asics if the ROI is 1 month.

If it becames like mining bitcoin then dash mining would be dropped a bit and especially from those that have mining for a long time with small asics.

[pikachuy]

Put me down for 38 units.

Not to judge you or anything, but with the X-MEN vs Avengers Movie that been going on in this community, and since you are a fairly new account, makes me wonder if this is a sabotage attempt. I could be wrong, but things have been weird lately going back and forth of different group buys... lol

[Tai_Pan]

Put me down for 38 units.

LOL, too good to be true.

Kilo, I just made some calculation and seems that this is very profitable based on calculation here: https://www.cryptocompare.com/mining/calculator/dash?HashingPower=10.8&HashingUnit=GH%2Fs&PowerConsumption=850&CostPerkWh=

This is ROI within a month (by not calculation the electricity), or there is a mistake here?

If in any case there is only one left then I will re-think and maybe order one.

If iBelink really is building and shipping 3000 units you can throw out all all the calculations for ROI.  Diff is going to the moon, profitability is going to crash.  The only thing you can do is guesstimate what might happen. 

If we were to get some of the first units and started mining like crazy we might see an ROI in 6-8mths IF we are lucky.  I suspect it will quickly go out beyond a year and will be like trying to mine BTC.  Only shot is to get one of these early.  If you pick up one later the chances of ROI look pretty grim. 

Of course that all assumes that these units hash at the advertised rate, which so far the limited look at the one that was online was quite a ways off from the advertised rate.  I am not so sure this thing is ready for prime time.  I would like to see some more data from the miner. 

I didn't think about hash difficulty that would be increased automatically because of this, and it's absurd for them to sell these asics if the ROI is 1 month.

If it becames like mining bitcoin then dash mining would be dropped a bit and especially from those that have mining for a long time with small asics.

Of course the diff will get higher.
More miners = higher difficulty=tougher to ROI.It applies to all the cryptocurrency out there.

[wlefever]

Put me down for 38 units.

Not to judge you or anything, but with the X-MEN vs Avengers Movie that been going on in this community, and since you are a fairly new account, makes me wonder if this is a sabotage attempt. I could be wrong, but things have been weird lately going back and forth of different group buys... lol

This is how I feel as well.  So many users wanting miners on both group buys have been low post accounts. I would love a few of these miners I just don't know how I feel about the situations. 

[bittawm]

Put me down for 38 units.

Not to judge you or anything, but with the X-MEN vs Avengers Movie that been going on in this community, and since you are a fairly new account, makes me wonder if this is a sabotage attempt. I could be wrong, but things have been weird lately going back and forth of different group buys... lol

This is how I feel as well.  So many users wanting miners on both group buys have been low post accounts. I would love a few of these miners I just don't know how I feel about the situations. 

 If I was a mod I would scan their IPs and see how many new accounts have the same IP addresses as some of these forum members

[elokk]

Put me down for 38 units.

Not to judge you or anything, but with the X-MEN vs Avengers Movie that been going on in this community, and since you are a fairly new account, makes me wonder if this is a sabotage attempt. I could be wrong, but things have been weird lately going back and forth of different group buys... lol

This is how I feel as well.  So many users wanting miners on both group buys have been low post accounts. I would love a few of these miners I just don't know how I feel about the situations. 

 If I was a mod I would scan their IPs and see how many new accounts have the same IP addresses as some of these forum members

I have reason to believe some of the established accounts that are heavily active in the marketplace threads are the same individual, manipulating other members, cornering the market on collectibles, etc

[Longsnowsm]

Very interesting.  I would like to see the IP scan list and see what we are dealing with.  Probably both group buy threads should have the IP's scanned to see is going on.   

[Starkz]

Since philipma1957 posted that he will not be providing escrow service for either group buys, is there someone else trusted for escrow? Is this group buy over?

[bittawm]

Very interesting.  I would like to see the IP scan list and see what we are dealing with.  Probably both group buy threads should have the IP's scanned to see is going on.   

i am all for this