[closed] USA/Canada Buy #1 193/50] ASICMiner Erupter USB 2.03496 each @ 5 units

[CanaryInTheMine]

Status updates:

Ya'll might need to know this as they begin showing up in the mail for you: https://bitcointalk.org/index.php?topic=220450.0

2013-05-05: group buy setup
2013-05-09: if you order 10+, I will ship via FedEx next day service.
2013-05-24: Group open to Canadian orders of 5+
2013-05-27: Today we got a nice surprise, the minimum order is now 50 instead of 300.  As a result, our group order will be placed in 12 hours.
2013-05-27: Payment sent to friedcat for 193 units: https://blockchain.info/tx/cfb20829772eb9a3e774fda0f405bd96dbcc53e2cc6d06505be925473f9a9093
2013-05-28: Just got a text from friedcat that the DHL label for this order is being printed...
2013-05-29: add .12 for next day shipping if your order is less than 10 units and you want next day instead of priority.
2013-06-01: 4th group buy here: https://bitcointalk.org/index.php?topic=222960.0
2013-06-01: All shipments I send out require a signature.

The Universe/God LOVES irony/coincidences... look at this, click on the transaction id (above link) and see that the map flag is planted in Ukraine for relaying this transaction... Well, what are the odds of that?  Any statisticians here to calculate the odds?  I was born in Ukraine...

I have received the payment address for our group buy from friedcat/ASICMiner.

Folks, the payment will be sent to friedcat at 1:30 PM CST (Chicago) on 5/27/2013
Timer removed. End time: 2013-05-27+13:30:59

Pricing:
The minimum order size for the group buy is 300 units at 1.99 bitcoins each.

Shipping cost: $5.80 for Priority Mail Small Flat Rate box.  I will ship up to 5 USBs per 1 USPS shipping box. At the current exchange rate ($110 USD/BTC) the cost of shipping up to 5 USBs is .053 bitcoins.  I will not use anything else like a padded envelope and risk crushing of USBs while in transit.

Insurance cost is $2.40 for $1000 of declared value.  This adds .0218 btc at current exchange rate.

Handling and processing is .15 btc for up to 5 USBs

So this is about (5*1.99)+.053+.0218+.15 = 10.1748 BTC per 5 USB devices. which is BTC2.03496 per USB device when you buy 5.

Note: If you want to pickup your order in person, you may do so by appointment, after I finish shipping first, your cost is 1.99 btc per USB device under this option.

Ordering:

If you still want to buy and are fine with the above pricing model, then you will have to participate by paying for your order upfront.

There is one common payment address: 1Gmop1ATPKytieiw6Zdn4vDAWPLKdfmYx5

To buy:

pick the number of ASICMiner Block Erupter USBs to order: N where N is between 1 and 5 only
send the total amount (C = (N * 1.99)+ 0.2248) to the given address
post your order in the following format: <forum nick>; <N>; <C>; <sending address>
ensure the sending address is under your control, so you can sign with it in case of disputes

You can order in multiples of up to 5. Meaning: if you want to order say 6, you would place two orders: one for 5 units and another order for 1 unit.  to order 7, you would place 2 orders where N=5 and second order where N=2... and so on.

If there is enough demand to order an additional 300 batch, I'll do so (given they are available to order). Those not getting into the queue will get their coins returned (to the sending address).

Shipment
The USB miners will be shipped to you within 1 day of me receiving them.

Communication
I live in Chicago (CST time zone: UTC/GMT -5 hours) and have a day-job that allows me ample time to devote to this endeavor. I do sleep at night, so if I don't answer at night, please be patient.

Cheers,

Canary[/list]

[1714234074]

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[1714234074]

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[1714234074]

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[1714234074]

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[1714234074]

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[adamthefishman]

Will you ship to Australia? I can pay a bit extra for postage.

[arklan]

no sense setting up multiple group buys for the US/canada until at least one of them gets it's 300 minimum...
https://bitcointalk.org/index.php?topic=195052.0

[CanaryInTheMine]

Will you ship to Australia? I can pay a bit extra for postage.

Sorry, my www.shipandinsure.com account is good for US shipments only.  I don't want to get involved with international shipments.

[CanaryInTheMine]

no sense setting up multiple group buys for the US/canada until at least one of them gets it's 300 minimum...
https://bitcointalk.org/index.php?topic=195052.0

People are free to setup their own group buys. 

[tidus_13]

arklan's cheaper and with Escrow  BTC 2.0808 per unit 

https://bitcointalk.org/index.php?topic=195052.0

[arklan]

no sense setting up multiple group buys for the US/canada until at least one of them gets it's 300 minimum...
https://bitcointalk.org/index.php?topic=195052.0

People are free to setup their own group buys. 

completely agreed. no offense meant.

[CanaryInTheMine]

arklan's cheaper and with Escrow  BTC 2.0808 per unit  

https://bitcointalk.org/index.php?topic=195052.0

it's BTC2.03496 per unit with this group buy if you pickup 5 units.

This group's price is better for orders in 5s.

[crazyates]

I would totally pick up a few of these, if they hadn't priced them so high. I might pick up a few offhand in a few months to give to friends, but I can't justify it right now.

[CanaryInTheMine]

I would totally pick up a few of these, if they hadn't priced them so high. I might pick up a few offhand in a few months to give to friends, but I can't justify it right now.

To pickup a few and use them to introduce others to mining is a good thing for bitcoin in the long run.  USB mining sticks will get it introduced to the mainstream user.  it is going to be a tipping point.

[redcomet]

RedComet; 5; 9.95 btc (local pickup)

From: 13vEmRoo8beAfdLc9ELw8GGAH3WTYgoEg4
Transaction: 0ad2d977831a1f4e1c20cf07e5276aa65547e62af643003b4b8e74e0cf7bb892

[CanaryInTheMine]

there is another thread in mining speculation that says these will never pay for themselves and they are nothing more than a novelty item.  it is said these should not be considered by serious miners.
what is your payback estimation assuming Avalon ships 500,000+ chips in the next two months?

Here's one of the better analysis I've come across on the topic: http://organofcorti.blogspot.com/2013/04/914-asic-earnings-23-april-2013.html
I highly recommend reading all of the posts on this blog, very informative.  making an assumption of 500,000 chips *282 MHs and going with it is kinda tough, cause nothing has ever happened AS ASSUMED with bitcoin and mining from what ive seen so far.  but current 72THs will get increased. the difficulty is projected to go up 90 times?  Im thinking GPUs are done in the next few months.  the faster one can switch to ASICs the better off one will be.  The longer the wait, the larger the missed opportunity is.  there's also a sub-forum for speculation here: https://bitcointalk.org/index.php?board=57.0  where a lot of this info is discussed.

[MineForeman.com]

I have set up another group-buy at https://bitcointalk.org/index.php?topic=201577.0.

This is an International one so it is more expensive but it is available to all of us that don't live in the US/Canada and Europe.

Neil

EDIT: Anyone in the US/Canada and Europe is welcome though.

[DBG]

I only have enough coin to buy a single unit, not a 5 batch (heh believe me, I'd love to grab 5 - 10 of these guys and spread them across a few powered hubs) so I won't waste your time unless this changes drastically.  Thanks for taking on the duties of being in charge of a group buy and this really is why I love (most,  ) of the BCT community.  I'm in Washington D.C. and while I do frequent Chicago 2x a year, my first trip was a couple months back and my 2nd isn't until October (otherwise I have a good friend that is a 3rd-year resident at Northwestern, works in the Cardiac Unit, and I'm sure he'd have no trouble popping out one of my kidneys, then we could work out the exchange rate in Bitcoin  ).

[CanaryInTheMine]

I only have enough coin to buy a single unit, not a 5 batch (heh believe me, I'd love to grab 5 - 10 of these guys and spread them across a few powered hubs) so I won't waste your time unless this changes drastically.  Thanks for taking on the duties of being in charge of a group buy and this really is why I love (most,  ) of the BCT community.  I'm in Washington D.C. and while I do frequent Chicago 2x a year, my first trip was a couple months back and my 2nd isn't until October (otherwise I have a good friend that is a 3rd-year resident at Northwestern, works in the Cardiac Unit, and I'm sure he'd have no trouble popping out one of my kidneys, then we could work out the exchange rate in Bitcoin  ).

You're welcome to order 1 USB device using this formula: C = (N * 1.99)+ 0.2248) : 1*1.99+0.2248= BTC2.2148

[bitzip]

I'm in the US and I'm interested in buying 20-25 units, but you are so far from the required 300 units.  It looks like none of the other buying groups have received new orders in a few days.

[MineForeman.com]

I'm in the US and I'm interested in buying 20-25 units, but you are so far from the required 300 units.  It looks like none of the other buying groups have received new orders in a few days.

I imagine that Canary is having the same problem I am, people actually need to put in orders instead of wait to see if others will do it first.

If I were you, I would put in your orders and others may do the same.

[CanaryInTheMine]

I'm in the US and I'm interested in buying 20-25 units, but you are so far from the required 300 units.  It looks like none of the other buying groups have received new orders in a few days.

we will be up to 50-55 units with your order, with 245-250 to go.  we have time and momentum as orders like yours start to come in.  Besides, all else fails, you get your bitcoins back. no loss for you. shall I take your order then?

[firefop]

I'm thinking about going in on this... I just can't wrap my head around spending this much for so little hashing.

I mean from my perspective - I'd make more money buying a bunch of 7970s and reselling them for 75% of purchase price in a couple months.

ROI is what... ~6 months? So make that 9 after the 30% increase in difficulty that's coming.

I'll think about it some more.

 

[tvbcof]

...
I mean from my perspective - I'd make more money buying a bunch of 7970s and reselling them for 75% of purchase price in a couple months.
...

Can you really get 75% from a mined out vid card?  That's an honest question, actually, since I simply don't know.  After seeing how miners run these things I would not touch one with a 10' pole as a buyer for actually running a monitor.  As for mining, it seems GPU mining is going the way of the waterbuffalo even at today's BTC prices.  I suppose there are always alt coins, but still I just cannot wrap my head around someone paying 75%.