Ended CardReaderFactory Lancelot Group Purchase due to Seller Business Practice

[Beaflag VonRathburg]

Outlining Goals:

I am currently organizing a group purchase for Lancelot, dual FPGA boards that are available through CardReaderFactory. For those uniformed with the Lancelot boards they generate around 380 MH/s mining Bitcoin and other SHA256 alt coins using roughly 30 watts of electricity. Here is the original thread created by ngzhang with release information: https://bitcointalk.org/index.php?topic=79835.0 . These products have been rereleased and are currently available. The company selling them has tiered pricing as follows:

Quantity / Price

1+     / $350 each
10+   / $300 each
100+ / $275 each
500+ / $260 each

The goal for the group purchase is to hit at least 100 units to hit the $275 price point.

New for sale threads made by the manufacturer with information:
https://bitcointalk.org/index.php?topic=187549.0
https://bitcointalk.org/index.php?topic=187634.0

Manufacturer's Website:
http://www.cardreaderfactory.com/shop/lancelot.html

Copy:

Hello everybody!

My company, Black Arrow Software http://www.blackarrowsoftware.com, has just started manufacturing Lancelot FPGAs ( 380Mh/sec - 400Mh/sec ).

The Lancelot device was developed by ngzhang. Details in this thread: https://bitcointalk.org/index.php?topic=79835.0

You can purchase it from our reseller's website: http://www.cardreaderfactory.com/shop/lancelot.html

Price: $350 / pcs. Discounts available for more than 10 pcs.

A 10 Amperes power supply can power 4 devices. As you do not need 1 power supply for each device, we no longer include 1 power supply for each device so we can save on the shipping costs.  Please order the power supply separately.

30/04/2013: Stock update:
First batch ready. Will ship 2-4 May.
Second batch should be ready on 10 May.

30/04/2013: Performance update:
Due to limited availability of -3N  and -3 xilinx FPGA we will be using -2 chips too. We have tested them and have no impact in the performance of the boards (see picture below). If you really want -3 chips do let us know and we'll hold your order until we manage to get some -3 chips.

If you haven't place your order yet, please place your order online and do _not_ pay for it. We will send you a payment reminder as soon as they are in stock.

Payment: We accept Bitcoin (price in Bitcoins will be calculated when you've paid the order at mtgox's rate), Western Union and Bank Transfer.
Shipping: We are based in Shenzhen, local pickup available. We can also ship worldwide with DHL, UPS and EMS. Shipping price depends on the destination and package weight. Our website is configured to charge $70 flat fee but we'll update this as soon as we hear back from DHL/UPS.



Our lancelot without the cooler:



Fan is included. At the moment is quite big and we're looking into how improve this.

The default firmware is running at 200mhz. We've tried the v42b firmware but it's just reporting faster speeds and doing less work.

The power consumption is 30Watt / device.





Regards!

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How the Group Purchase Works:

Upon confirming interest in 100+ units each member of the group buy will be asked to send the amount of satoshis (.0000000x) equal to the amount of units they would like from an address that would contain the funding necessary to pay for the units. I would then need each person to post or PM the payment address they used so I can associate a name with the address. At the point 100 units are confirmed I will create a sales order with CardReaderFactory. Upon receiving payment instructions from blackarrow / CardReaderFactory I will request payment from members to the unique wallet address for the group buy. I would then need each member to PM me their shipping information. When the units arrive I will open the box, separate the units, box them, weigh them, and estimate shipping. I will then PM each member of the group purchase and coordinate shipping services and payment for the shipping with them. If any members are semi local (within a few hours) to me I will offer delivery of the units for the cost of gas, a sub sammich, and $10. I can also offer proxy mining services with $0.08 / kwh and 2% for anyone that may be unable to get their units running right away.

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Example of How This Will Work for Members of the Group Purchase:

1abcdefgpaymentaddress

1. A user is interested in 10 units. That user would sent .00000010 BTC to the payment address. Then they would either post that, "I sent the coins to the address from 1exampleaddress" or PM Beaflag VonRathburg that information directly so the payment can be coordinated with the user.

2. Beaflag VonRathburg will create a sales order with CardReaderFactory upon reaching 100+ units.

3. The user will send payment and shipping information through PM to Beaflag VonRathburg

4. Units will be paid for.

5. Units ship to Beaflag VonRathburg

6. Beaflag VonRathburg separates units into individual orders and contacts group purchase members to coordinate shipping / delivery.

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Current Confirmed Interest:

Beaflag VonRathburg                    = 01 Units (roughly)
detail3                                         = 06 Units
Zalfin                                           = 05 Units
Anonymous User 1                        = 40 Units
Anonymous User 2                         = 20 Units
LazyOtto                                       = 01 Unit
Bogart                                           = 10 Units
chanberg                                       = 04 Units
Anonymous User 3                          = 02 Units
Anonymous User 4                          = 01 Unit
Anonymous User 5                          = 20 Units
Anonymous User 6                          = 20 Units
chemicalbro                                    = 02 Units
DebitMe                                          = 08 Units
Cheshyr                                          = 01 Unit
tigerfree                                          = 01 Unit
ebildude123                                     = 01 Unit
Anonymous User 7                           = 10 Units
Anonymous User 8                           = 06 Units
fgkrew                                             = 04 Units

163/100 Confirmed Units (No longer accepting new orders)

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No longer accepting new orders. Please standby for payment details.

[imsaguy]

Recheck the dates.  The update on April 30 says they will ship on April 10.  So did they ship or not? When would this group buy ship?

[Beaflag VonRathburg]

Recheck the dates.  The update on April 30 says they will ship on April 10.  So did they ship or not? When would this group buy ship?

I noticed that as well and I think it is a typo and he meant to type May. Blackarrow created the thread April 25th to announce the availability of the product. CardReaderFactory's website states, "This product is currently out of stock; We will ship around 8/05/2013 but might ship sooner. Please place your order but do not pay! We will send you an email when they are in stock."

Which, means they should ship in a week.

[imsaguy]

Recheck the dates.  The update on April 30 says they will ship on April 10.  So did they ship or not? When would this group buy ship?

I noticed that as well and I think it is a typo and he meant to type May. Blackarrow created the thread April 25th to announce the availability of the product. CardReaderFactory's website states, "This product is currently out of stock; We will ship around 8/05/2013 but might ship sooner. Please place your order but do not pay! We will send you an email when they are in stock."

Which, means they should ship in a week.

What about escrow?

[Beaflag VonRathburg]

Recheck the dates.  The update on April 30 says they will ship on April 10.  So did they ship or not? When would this group buy ship?

I noticed that as well and I think it is a typo and he meant to type May. Blackarrow created the thread April 25th to announce the availability of the product. CardReaderFactory's website states, "This product is currently out of stock; We will ship around 8/05/2013 but might ship sooner. Please place your order but do not pay! We will send you an email when they are in stock."

Which, means they should ship in a week.

What about escrow?

I will accept all funds for the group purchase initially to prevent people from backing out and potentially causing a drop below 100 units. Blackarrow states that they will accept escrow for the boards. We as a group can decide on who we want to use for our escrow. I will send the BTC to a group confirmed escrow agent upon ordering the boards. When the boards arrive I will confirm the correct number of boards have arrived ONLY. I previously stated I will only be separating the boards for shipping, but if a member would want me to test their boards that could potentially be arranged.

[LazyOtto]

I will commit to one unit at the group buy price (100 unit discount) of $275.

Plus shipping, amount to be determined later by Beaflag. (I expect to pay a proportional share of the group/bulk shipment cost and then additionally the amount required to ship my unit.)

Looking forward to us hitting the group commitment of 100 units and Beaflag sending me a PM with address to send BTC. Quantity of BTC determined by MtGox valuation on that date.

--

Please correct me, Beaflag, if I've mis/poorly stated anything.

-- edit 1

I'm contracting/committing for the board, the 12 brass standoffs and the fan. As pictured.

-- edit 2 - Revised the 'edit 1' line for clarity.

[Bogart]

You can put me down for 10 units.

To be clear, I plan to resell zero or more of these at a profit once I have them in-hand.  I do hope that no one has a problem with this.  Anyone is free to join this GB themselves now to secure a lower price.

I may commit to additional units if funds allow.

[chanberg]

You can put me down for 4 boards

Danny

[Chemicalbro]

2 units if there's a trusted escrow as well as this company being legit. No previous feedback on these yet I believe.

[imsaguy]

I will accept all funds for the group purchase initially to prevent people from backing out and potentially causing a drop below 100 units. Blackarrow states that they will accept escrow for the boards. We as a group can decide on who we want to use for our escrow. I will send the BTC to a group confirmed escrow agent upon ordering the boards. When the boards arrive I will confirm the correct number of boards have arrived ONLY. I previously stated I will only be separating the boards for shipping, but if a member would want me to test their boards that could potentially be arranged.

When I asked about Escrow, I was more concerned about the company.  I've spoken with others that were interested in this and that was always their concern as well.  Where abouts are you located?  That will perhaps affect shipping time, no?

[Beaflag VonRathburg]

The unit count has been updated and is extremely close to at least 100 units. I will accept orders over 100 for a short time as some people when it comes time to pay may not be able to pay for all or part of their order depending on price fluctuations.

--------------------------------------------

Recheck the dates.  The update on April 30 says they will ship on April 10.  So did they ship or not? When would this group buy ship?

I PMed blackarrow about that and he has fixed it.

30/04/2013: Stock update:
First batch ready. Will ship 2-4 May.
Second batch should be ready on 10 May.

--------------------------------------------

I will commit to one unit at the group buy price (100 unit discount) of $275.

Plus shipping, amount to be determined later by Beaflag. (I expect to pay a proportional share of the group/bulk shipment cost and then additionally the amount required to ship my unit.)

Looking forward to us hitting the group commitment of 100 units and Beaflag sending me a PM with address to send BTC. Quantity of BTC determined by MtGox valuation on that date.

--

Please correct me, Beaflag, if I've mis/poorly stated anything.

-- edit 1

I'm contracting/committing for the board, the 12 brass standoffs and the fan. As pictured.

-- edit 2 - Revised the 'edit 1' line for clarity.

You have that pretty much spot on. The only thing is that the boards do not come with the standoffs. The boards come with (from their site):

•1 x Lancelot, with standard cooling system (200Mhz Firmware)
•1 x CDROM (with necessary software, documents)
•1 x cable to connect to the power supply
•1 x USB cable

I've added you to the list.

--------------------------------------------

You can put me down for 10 units.

To be clear, I plan to resell zero or more of these at a profit once I have them in-hand.  I do hope that no one has a problem with this.  Anyone is free to join this GB themselves now to secure a lower price.

I may commit to additional units if funds allow.

I have no problem with that. I've added you to the list.

--------------------------------------------

You can put me down for 4 boards

Danny

Danny,

Your units have been added to the list.

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2 units if there's a trusted escrow as well as this company being legit. No previous feedback on these yet I believe.

I won't add you to the list yet. Please read my next reply below.

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When I asked about Escrow, I was more concerned about the company.  I've spoken with others that were interested in this and that was always their concern as well.  Where abouts are you located?  That will perhaps affect shipping time, no?

I am located in the United States. I've PMed blackarrow to clarify their escrow policy. If theirs is unacceptable I'm sure we can negotiate a third party escrow service.

--------------------------------------------

[jorgebuck]

2 units if there's a trusted escrow as well as this company being legit. No previous feedback on these yet I believe.

I'm in for 1 on this same condition, let me know

[Beaflag VonRathburg]

I'm leaving the house now and will respond to all PMs much later this evening / first few AM hours EST.

[Chemicalbro]

Sorta confused. You want people to pay you, then you pay escrow, then escrow to blackarrow? Why not buyers straight to escrow? Do you have a lot of rep? Not saying you don't, legit asking.

[sgrunger]

PM sent. Thanks!

[Beaflag VonRathburg]

All PMs responded to. We are currently over 100 units so the discount is confirmed. I am going to shut down the group purchase soon. Anyone that is on the fence please decided soon as I will stop accepting units for the group purchase and be placing an order for the units within the next day or so.

Sorta confused. You want people to pay you, then you pay escrow, then escrow to blackarrow? Why not buyers straight to escrow? Do you have a lot of rep? Not saying you don't, legit asking.

I'll not expand on it too much, but how the escrow will work is not 100% set at this moment. I am working that out with blackarrow currently.

I use this user name for all of my forum dealings and ebay account (on there, there's a _ between the two words). The best thing I can tell you is that if you have any problems with sending someone funds you shouldn't do it. You need to be personally comfortable with sending someone funds as it does involve a lot of trust. I am not in this in any way to be sneaky or anything else. I simply want to get a discount on some units and I'm doing a lot of work organizing this for zero group compensation.

PM sent. Thanks!

Units confirmed.

[Chemicalbro]

Consider my 2 confirmed then.

[scarab2378]

I am hopefully on the list as one of the anonymous users.  Watching this thread now

[sgrunger]

Bitcoins ready, set and match.

[DebitMe]

I would be down for 5 units, do I need to send satoshis somewhere?

If we are close to hitting order total please let me know, I might add on some more to get us to mark.

Also wil these come with power supplies?  If not how do we get those or where can we get them?