Community Mining - Avalon ASIC chip Miner--33.840MH/s----> All Shares are taken

[Foofighter]

Hey guys,

in this thread I want to introduce a Community Mining Project which will run with Miners made of Avalon ASIC chips.

About this project?

• This project will be an investment project for you! You can buy shares from ASIC Miners, each share is equivalent to ~920Mh/s hashing power
• The more shares are bought the more Miners will be bought
• All shares and shareholders will be listed in this Thread
• There will be weekly payments
• Will will buy the ASIC chips in a group buy and we will probably buy the 20 chips Mining Units from Burnin ( one of his devices will provide 5,5GH/s hashing power)
• This service will be available as long as it will be profitable for our investors
• We are at no time the owners of the mining devices, we will only host and administrate the devices for you
• Each Miner with the Mining power of 5,5 GH/s will be splitted into 6 Shares

Advantages:

• no need to configure any hardware or software
• cheap hashingpower
• good community support, with frequend news

Please note: The first few investments will be taken to buy only ASIC chips, because these parts are the most time critical part of the Miner, in the case that there are no other investors I will pay the assambly service and other necessary costs on my own to provide the complete mining devices!

The costs of 1 Miner is:
1,72 BTC + 1,78BTC @100EUR/BTC

Actual weighteda average BTC Price from MTGOX:https://mtgox.com/index.html?Currency=EUR (Forum warning: Possible phishing link!) (Forum warning: Possible phishing link!)

Please replace the red coloured number with the current average MTgox Price for 1 BTC
Example:
1BTC=97EUR
(((100/97)*1,78)+1,72)/6 = (0,593BTC per Share)

The fixed price of 1,72 BTC is needed because the ASIC chips can only bought with a fixed amount of BTC, the variable part of the costs is for assambly, shipping, customs, cables and power supplies,USB Hubs etc..

Please note: We have decided in change #2 (see changelog) to use different Mining devices, currently we are ordering Burnin-20 and Klondike-16.
See here the Shares in which the devices are splittet:

Burnin 20chip device     =    6 Shares
Klondike 16 chip device =    5 Shares

We are looking to buy an even amount of both devices.
As the pricing of the clondike 16 is very good we can offer the clondike for the same share price as the burnin 20 chip device!

How can I invest in this project?

1. Choose the amount of shares you would like to invest and then just pay to the provided adress and verify your payment adress.
    There is only one payment adress:
Please only send your BTC from an adress which you can control and verify messages with!

no Shares left to pay!

2. Sign a Message with your USERNAME and used sending adress:
How to for software wallet:
https://www.youtube.com/watch?v=3oxM9_OCQKM
How to for online wallet:
https://www.youtube.com/watch?v=S88ciN9DsRk
Check your own verification: http://brainwallet.org/#verify (Forum warning: Possible phishing link!) (Forum warning: Possible phishing link!)

3. Post your investment in the following format:

<forum nick>; <Number of shares>;<sending address>;<the actual BTC price you calculated with>
<verification signature>

If you have any questions, dont hesitate to ask!

Project Status:

Working Miners:
0

ordered ASIC chips:
120

ordered Miner assambly:
still not available

Original Post in the service announcement section:
https://bitcointalk.org/index.php?topic=209865.msg2198570#msg2198570

Changelog of the FAQ and the Thread:
#01 - 26.05.2013
Adding Information that the first few investments will be taken as a whole to order ASIC chips, because they are the most time critical parts of the Miner.(I will pay the Assambly costs in case that there are no further investments.)

#02 - 27.05.2013
We have decided to split our risks a bit more and buy multiple different Mining devices and use multiples ASIC chip Groupbuys, Shareprice stays the same for burnin-20 and Klondike 16: see Announcement here:
https://bitcointalk.org/index.php?topic=216782.msg2289484#msg2289484 (Forum warning: Possible phishing link!) (Forum warning: Possible phishing link!)
Also we changed the FAQ you accordingly to this change in the project.

#03 - 28.05.2013/30.05.2013
edited the verification process part of the #1 Thread and made it a lot easier to understand, see the explanation with 2 links now.
also added Video Tutorials for making the signing process easier.

#04 - 29.05.2013
added an estimated time frame from the ordering of the chips until we get the final device, see FAQ for more Information.

#05 - 30.05.2013/31.05.2013
edited Point3 of how to make an investment, from now on it is mandatory to post this in the Thread because PM makes no sense - there are no anonymous investors in this project
corrected the value for the hashing power per Share from 917 to ~920

[1713277220]

1713277220

[1713277220]

1713277220

[Foofighter]

Frequently asked questions:

When is this service available?

You can already buy shares, but the first ASIC Miner will be estimated to arrive at mid/end of august.
We will continually order devices the more shares are bought, your shares will start working as soon as we got the devices. See the order in the investment table.
As our information is now, it currently could take about 12 - 17 weeks from the ordering of the chips until we get the mining device in our hands, please note this time frame is an estimation!

Which mining devices are we using?

We will buy ASIC chips from Avalon in the following group buys:
https://bitcointalk.org/index.php?topic=187660
https://bitcointalk.org/index.php?topic=189582.0

See here the Assamblers of the Burnin-20 and the Klondike-16:
https://bitcointalk.org/index.php?topic=179769.380
https://bitcointalk.org/index.php?topic=190731.0

Burnin-20:


Klondike-16:

How much Mining power has one of this devices?

Burnins 20chip device produces 5,5GH/s, the Klondike 16 produces 4,5GH/s.

How much Mining devices are involved in this project?

There is no fixed amount at the moment, as people are investing more monex we will buy the more devices.

Will it be possible to sell my Shares?

Yes you are allowed to trade your shares.

How are the mining earnings splitted?

At the end of a payout period, the power costs and a handling fee of 1,5% will be subtracted from the mining earnings. The earning will then be splitted proportionally to all investors.
After the initial Investment of an Investor is mined the handling fee for further mining earnings will be 5%.
If a Share which has already reached the initial investment is traded, the 5% handling fee will still apply.
Please note: As we are using different Mining devices with different Amounts of Shares and Speed, the whole Hashingpower of all devices is splitted into all Shares so everybody gets the same Speed/ Share.

What is the payout frequency?

We will make payouts once every week, at each payout we will post a notification in the thread and will summarize alle mining earnings, the power costs and the handlings fees.

What happens if a Miner gets damaged during the project time?

As this is a Community Mining Project, everyone will have to take the same risks, so if a mining device is damaged the whole mining power of the farm will be splitted propotionally to all investors until the Mining device is fixed or we got a replacement.

What happens if the project isnt providable any more, an increasing amount of Miners gets damaged or we are in any other way forced to stop the project?

In this case we will sell all Miners and split the profit propotionally between all investors, or the investors can have there Mining device send home to them depending if the amount of shares they are holding is equal to a full Mining device. (this option would require to pay additional shipping and packaging costs which have to be paid by the investor)
The option that a Shareholder can send his Miner to him will only apply 6 Months after the initial investment is payed out.

Why should we trust you?

As mentioned before a trusted member of the forum will be provided with my identity data and in cases of scam or fraud everyone of you will be provided with my data.
Also it would make no sense for me to scam you because this would mean only a limited profit, in the long run if we trust each other both parties can take much more advantage and make more profit.

How are you going to provide the promised transparency?

Our Mining devices will be bought in two steps, first of all we need the chips then the chips will be send to the assambly service and afterwards we receive the mining devices and start mining.
As the chip buy is a public forum thread everyone can see how much chips we are buying, we will see how the assambly service will work but maybe this could also be done in a way that everyone sees where the money is going.
See here our ordered ASIC Mining chips:
https://bitcointalk.org/index.php?topic=187663.0
Batch 1: 21pieces - ID89
Batch 3: 19pieces - ID17
https://bitcointalk.org/index.php?topic=200067.0
Batch 1: 48pieces - ID105
Batch 1: 32pieces - ID116

[Foofighter]

[Foofighter]

reserved

[Akka]

Hello ASIC Community Miners.

I have receiced an identity document and a recent bill from Foofighter to the same Person as on the ID including a receiving address. I also will receive the order confirmations.
So if the assembly is ordered and burnin provides order confirmations at his assembly service I can definitely check if he ordered the service or not. The Asic chip buy is already very transparent because Foofighter could provide verified payment addresses for the stated chip orders.

In the case Foofighter scams investor funds, I will provide every investor with Foofighters identity.

As scam I would evaluate a behaviour of Foofighter where damage to his investors is caused on purpose. Examples given:

Foofighter got the miners delivered but doesn't announce it or doesn't make payouts / stops his payouts respectively, is inactive in the forum for over 1 month.
If he announces his absence (vacation or hospital stay) the amount of time will be elongated respectively.

He is inactive in the forum for over 6 months and is also unavailable to reach in general.

I will exclude every circumstance where the chips deliverer or the assembly service of the ASIC devices is to hold accountable and Foofighter has no influence.
Example given:

Avalon doesn't deliver the ASIC chips.

Any circumstances beyond Foofighters control , (eg.: Foofighter house burned down, he gets shut down, the miners get robbed, etc.) in that case Foofighter has to prove that this was really the case.

One or more mining devices get damaged without inappropriate influence through Foofighter and cannot be repaired without additional costs.

The mining is not profitable any more, which means the power costs + the handling fees are higher or equal to the mining outcome, in this case Foofighter can only sell the miners and split the selling revenues proportionally to all investors, or the investors can have their mining device sent home to them depending if the amount of shares they are holding is equal to a full mining device. (this option would require to pay additional shipping and packaging costs which have to be paid by the investor)

Every other matter will be evaluated by common sense.

I have already provided this kind of service for other Projects:

yxts Avalon Gemeinschaftskauf: https://bitcointalk.org/index.php?topic=157128.0;topicseen

The beginning Candoos Avalon Community Mining, now listed as Cado.AvalonB3 on Bitfunder: https://bitcointalk.org/index.php?topic=158935.0

and

Candoos BFL Community Mining: https://bitcointalk.org/index.php?topic=160797.0

*I am personally not involved in this project and neither have I taken any payments from Foofighter or any other involved body, but I reserve the option to invest in this service myself.

** The purpose of this service is only to provide investors with some limited amount of security (Identity of the provider is known) while at the same time enable him to stay anonymous, which is understandable if you plan to host expensive mining equipment.
I don’t guarantee that this service is risk free and/or profitable.

***If somebody quotes this text it will be unchangeable bound to the forum.

[Akka]

Orders that can be confirmed by me:

13-05-26:

Avalon ASIC Chips (SebastianJu) - 40 pcs.

13-05-27

Avalon ASIC Chips (t13hydra) - 32 pcs.

13-05-30

Avalon ASIC Chips (t13hydra) - 16 pcs.

13-06-02

Avalon ASIC Chips (t13hydra) - 32 pcs.



Sum: 120 pcs.

[neurobox]

If it's all the same, would you consider fractional shares for those with mere pocket change to throw in?

[Foofighter]

If it's all the same, would you consider fractional shares for those with mere pocket change to throw in?

Hi,

from our point of view, fractional shares are not profitable enough to bring satisfaction to our Shareholders.

Also it would take a lot more investors to buy devices and would cause more workload.

I also think that around 0,55 BTC, is a pretty fair price for 1 share and should be affordable by everyone.

regards
Foofighter

[ironcross360]

Hey guys,

in this thread I want to introduce a Community Mining Project which will run with Miners made of Avalon ASIC chips.

About this project?

• This project will be an investment project for you! You can buy shares from ASIC Miners, each share is equivalent to 917Mh/s hashing power
• The more shares are bought the more Miners will be bought
• All shares and shareholders will be listed in this Thread
• There will be weekly payments
• Will will buy the ASIC chips in a group buy and we will probably buy the 20 chips Mining Units from Burnin ( one of his devices will provide 5,5GH/s hashing power)
• This service will be available as long as it will be profitable for our investors
• We are at no time the owners of the mining devices, we will only host and administrate the devices for you
• Each Miner with the Mining power of 5,5 GH/s will be splitted into 6 Shares

Advantages:

• no need to configure any hardware or software
• cheap hashingpower
• good community support, with frequend news

The costs of 1 Miner is:
1,72 BTC + 1,78BTC @100EUR/BTC

Actual weighteda average BTC Price from MTGOX:https://mtgox.com/index.html?Currency=EUR

Example:
1BTC=97EUR

(((100/97)*1,78)+1,72)/6 = 0,593BTC per Share

The fixed price of 1,72 BTC is needed because the ASIC chips can only bought with a fixed amount of BTC, the variable part of the costs is for assambly, shipping, customs, cables and power supplies,USB Hubs etc..

How can I invest in this project?

1. Choose the amount of shares you would like to invest and then just pay to the provided adress and verify your payment adress.
    There is only one payment adress:

18f7yGxM1KqgfyZTHRP5mXmzFEaszX7BU9

2. Post or PM (if you want to stay anonymous) me your investment in the following format:
    

<forum nick>; <Number of shares>;<sending address>;<the actual BTC price you calculated with>

2.1 ensure the sending address is under your control, so you can sign with it in case of disputes.
2.2 How to sign/verify messages?.
    if your wallet application does not let you select the sending address and sends from multiple, please post only one of them (and keep the address for a while)
    Sign your username as message.
 SIGNING/VERIFYING

• Copy the sending address from which you sent with to the group buy. If you mean that the sending address doesnt look like yours its probably a change address. This address is yours of course when you sent
• bitcoins with it. If you dont know the address then go to the transaction, where you sent bitcoins, and check the details. There is a transaction-id. Copy this t-id and put it into the form field at blockchain.info. Then you can see the sending address(es) you sent the bitcoins with.
• Choose "sign messages" in your wallet.
• Copy the sending address in the field at the top where the address has to be.
• Put your forums username in the message field. (If possible use only your username and not more signs or words to prevent errors while sending the info via pm or while verifying.)
• Click at sign.
• The signatur IS NOT stored in bitcoin network (blockchain) and isn't automatically transmitted to me. The signation only creates data, the signature, that is the long string at the bottom that ends to =. In order i can verify the sending address you need to send me the signature.
• See next point.
• Create a pm and set up two code tags. Like this here:

Example-Code-Tag (Created with BBCode, that is the number sign on top of PMs or Posts while creating them):

This rectangle is a code-tag created with the hash-button above
the textfield when creating a pm or a post.
Put the message and the signature in such tag.

• The code tags are important so that while sending the pm no wrong signs come to it that could make the message or the signature faulty.
• In the first codetag put in the signed message, for example your username. IMPORTANT: Upper- and Lowercase does matter. You have to verify the exact same text you used for signing.
• In the second codetag put in the created signature. Please be careful to copy all signs of the signature. For example use ctrl+A to mark all signs, then ctrl+C to copy them.
• Go to Verify signed messages via website and put in your username (your message) and your signature into the fields. To be sure all is copied correctly first go in the field with the mouse, click ctrl+A to mark all the old text, then click ctrl+V to overwrite all marked text. Klick "Verify Message" and see that the sending address comes out that you signed the message with.
• If that happened successfully send the pm.
• As soon as i verified the signature and message and got the correct sending address out of it you will be verified.
• Who is using armory knows that the result of signing is different. Its a block of text. Simply send me that block. I can verify it.

(Source of the verification steps: https://bitcointalk.org/index.php?topic=187660)

If you have any questions, dont hesitate to ask!

Project Status:

Working Miners:
0

ordered ASIC chips:
40

ordered Miner assambly:
still not available

Original Post in the service announcement section:
https://bitcointalk.org/index.php?topic=209865.msg2198570#msg2198570

estimated profit for 1 miner?

[wolverine.ks]

what is the expected ROI? 4 months?

[yxt]

depends on the future development.  Everyone should make his own assumptions.

[Foofighter]

Please note, i added a Changelog on the end of the first post, in this Changelog I will write every changes of the project or additions to the FAQ.

See #1 changelog entry for more Information.

Best regards
Foofighter

[yxt]

sent PM with further feedback...

[Foofighter]

@ironcross360 + woverine.ks

Nobody knows how the difficulty will increase in the future, but your can play around on your own, here is a good mining calc:
http://www.alloscomp.com/bitcoin/calculator

regards
Foofighter

[Foofighter]

Hi,
just ordered the next Asic chips for 2 more devices.

We have also decided that we will use another Asic CHip group buy which is located in Europe, its the groupbuy of t13hydra:
https://bitcointalk.org/index.php?topic=189582.msg2289091#msg2289091

Also we decided to use more then one Mining device, we are planning to use the 20 chip device from burnin, the Clondike 16 chip design and maybe if the design got released soon the clondike 32 or 64 too.

We did this in order to split up our risks of the Project, there will be no disadvantage for any investor and there will still be 1 price for 1 share but different amounts of shares per device:

Burnin 20chip device = 6 Shares
Clondike 16 chip device = 5 Share

The mining power of the whole system will be splitted into the amount of share available so everybody has the same mining power/ share.

As the pricing of the clondike 16 is very good we can offer the clondike for the same share price as burnin 20 chip device!

We are looking to buy an even amount of both devices.

Please see this change also in the Changelog and edited into the #1 post.

@yxt
thanks so far for your feedback, i will reply asap

@to the first investors
Thank you very much for your trust in this project!

Best regards
Foofighter

[ironcross360]

give me 1 miner

[Foofighter]

give me 1 miner

No problem, just pay for 5 or 6 Shares and you have got your Miner.

Best regards

[GGGGG]

Looks like a nice project, but I'm wary of investing in anything which relies on Avalon shipping in a timely matter. Although they came out strong with batch 1, they seem to have dropped the ball (several in Batch 1 have still not received any units, and Batch 2, although officially "shipping" keeps getting pushed further and further back. I'm too worried that it will be 6 months or more before any Avalon chips ever get shipped.

[Foofighter]

Hi,

I understand your concerns, but I think about it that way:
We make the order in Group buys, the only thing Avalon got to do is forward the order to TSMC -> get finished chips from TSMC and forward them to group buyer.

I can not image that in this simple chain of things to do something can go wrong, although there is everytime the possibility given.

regards

[Foofighter]

I think I could be interested, do you need a minimum number of investors to get this project off the ground?

Hi jimmijames73,

nope, as you can see we already ordered chips as soon as a new investment comes in we make orders.

So there are no minimum investors and now also no maximum investors or maximum allocated Hashing Power, but this will maybe come in the future.

If you need mor Information, dont hesitate to ask!

best regards
Foofighter

[Foofighter]

Hi guys,

there was another change, as the investors got some troubles with the original verification step by step guidance, I posted an easier guidance.

I hope now is everything clear.

Please see this change also in the changelog in post #1. This is change No. #3

I also added an estimated amount of time from the ordering of the chips until we get the miners in our hands, see change #4

For more Informations, dont hesitate to ask!

regards
Foofighter

[Foofighter]

Hi,

added change #5, as this is an open project everone can see who has invested so from now on every investor shall post his investment mentioned in point 3 of #OP as a post and not anymore as a PN.

I also added two youtube tutorials for the verification process.

And updated the investors List and our total hashing power!

regards
Foofighter

[Foofighter]

Hi jimmijames,

just updatet the list, thank you!

regards

[gektek]

oh so that's how it works. Will be following suit as soon as my current rig mines enough for getting a share. One is better than none right?

[puffpuffpass]

how does the price per share work? does it go up based on market demand, or is it solely based on cost of equipment?

[Foofighter]

Hi,

the pricing is only based on the costs of equipment and its not planed to rise the prices.

Due to the fact that the prices are very competitive now we will have to see if the additional hardware costs like power supplys, cable, and so on are properly covered.

The purpose of the project is not to make any profits of it, so I see no general reason to increase prices, but later on there will be a cap on maximum Miners / Shares.

regards

[davecoin]

So you currently have no hardware, yet plan on offering 917 mh/s at 0.593BTC per share?

In theory, you are offering a hashrate of 1 BTC = 1546 mh/s.

Avalon batch 2 = 75 BTC, 66gh/s, 1BTC = 880 mh/s

ASICMINER blade = 50 BTC, 13gh/s, 1BTC = 260 mh/s

Just want to make sure I have this right.

[itxtutor]

So you currently have no hardware, yet plan on offering 917 mh/s at 0.593BTC per share?

In theory, you are offering a hashrate of 1 BTC = 1546 mh/s.

Avalon batch 2 = 75 BTC, 66gh/s, 1BTC = 880 mh/s

ASICMINER blade = 50 BTC, 13gh/s, 1BTC = 260 mh/s

Just want to make sure I have this right.

True. You need to know, he won´t make profit out of the miners. If you check the costs of one miner, you will come to the same value / GH.  The Chips are priced at 0,083 - 0,086 BTC / chip.  You need 20 chips for a burnin device or 16 chips for a Klondike device.

1 Asic chip can do 282 mh/s  -> That equals ~ 5,64 gh/s for a burnin device or ~4,51 gh/s for a Klondike 16 miner.

Assembly costs vary between 65-100€ (or maybe more ?!)

So it´s possible to offer this hashrate / BTC !

[ChronoX5]

Hi, I just read the original thread. As I understand it your original plan was to offer a fixed ROI of 110% but now you have reworked the offer so that you get a cut of about 5% (minus expenses) and the ROI is not capped. Is this correct?

Sounds like a very good investment and I would very much appreciate it if you got in contact with a respected forum member to verify your identity.

[ChronoX5]

Sounds like a very good investment and I would very much appreciate it if you got in contact with a respected forum member to verify your identity.

Akka has received documentation from Foofighter, see Post #5 in this thread.

Thank you and thanks to Foofighter and Akka!

Here's my order: (that 20,000 BTC selloff just cost me 6€ )

ChronoX5;6;1VK7eJ9MaG7W17Ekk1Jbvhm5MudQ77pJ2;96.39;G8H8BNmI/XCpZXqhx4OqpOnl+5qHGc06i71i3U7gvMegIM5LRQYlEtm4m75nC/4rg7+tx1Cmc9CPYg2nbGsdeMQ=

[Foofighter]

Hi ChronoX5,

just updatet the list, thank you!

So you currently have no hardware, yet plan on offering 917 mh/s at 0.593BTC per share?

In theory, you are offering a hashrate of 1 BTC = 1546 mh/s.

Avalon batch 2 = 75 BTC, 66gh/s, 1BTC = 880 mh/s

ASICMINER blade = 50 BTC, 13gh/s, 1BTC = 260 mh/s

Just want to make sure I have this right.

yes thats right!

regards

[Eric Muyser]

each share is equivalent to ~920Mh/s hashing power

When only the first batch has arrived, in order for that to be true, you wouldn't split the 5.5 GH device between all shareholders, only the one who bought the 6 shares. Otherwise as more people buy shares, you are watering down (reducing) the hashing power per share (giving the new shareholders hashing power before their shipment has been delivered).

If I buy 6 shares now, do I get hashing power when the first shipment you ordered is delivered (avalon batch 1)? or do I wait until the shipment I get into is delivered (batch 2 or 3)? Honestly I would prefer to wait and guarantee ~920Mh/s per share. Because once you start actually giving out dividends, a bunch of people will want shares and the shipments will take longer and never catch up to the demand.

In essence, you would be hosting them for us (you should charge a % fee).

That means the first avalon you pre-ordered is all yours, Foofighter, not shared. We wait Is that how it will work?

[Foofighter]

each share is equivalent to ~920Mh/s hashing power

When only the first batch has arrived, in order for that to be true, you wouldn't split the 5.5 GH device between all shareholders, only the one who bought the 6 shares. Otherwise as more people buy shares, you are watering down (reducing) the hashing power per share (giving the new shareholders hashing power before their shipment has been delivered).

If I buy 6 shares now, do I get hashing power when the first shipment is delivered? or do I wait until the shipment I get into is delivered? Honestly I would prefer to wait and guarantee ~920Mh/s per share. Because once you start actually giving out dividends, a bunch of people will want shares and the shipments will take longer and never catch up to the demand.

In essence, you would be hosting them for us (you should charge a % fee).

Hi Eric,

it seems you missed some points on the FAQ.

The Hashrate per Share is a guaranteed value, as you can read in the FAQ

We will continually order devices the more shares are bought, your shares will start working as soon as we got the devices. See the order in the investment table.

This means if the first 2 devices arrive, we can cover 2 x 6 or 5 Shares depending on which device it is.

As mentioned somewhere in the Thread there wont be an unlimited amount of Shares, I think we can offer 100-120 Shares at the moment but this is just some value, if there is much more demand we can surly find a way to increase the amount of shares.

There is already a hosting fee see here:

How are the mining earnings splitted?
Quote
At the end of a payout period, the power costs and a handling fee of 1,5% will be subtracted from the mining earnings. The earning will then be splitted proportionally to all investors.
After the initial Investment of an Investor is mined the handling fee for further mining earnings will be 5%.
If a Share which has already reached the initial investment is traded, the 5% handling fee will still apply.
Please note: As we are using different Mining devices with different Amounts of Shares and Speed, the whole Hashingpower of all devices is splitted into all Shares so everybody gets the same Speed/ Share.

[Eric Muyser]

Thanks Foofighter, that's perfect!

I wish someone would do this with Bitfury's (600% more GH per dollar, less power).

[Foofighter]

Thanks Foofighter, that's perfect!

I wish someone would do this with Bitfury's (600% more GH per dollar, less power).

Just have seen the Bitfurys Asic thread , but this sounds for the moment to risky for me, there is still no proof and also no excrow allowed.

[truy]

Hello ASIC Community Miners.

I have receiced an identity document and a recent bill from Foofighter to the same Person as on the ID including a receiving address. I also will receive the order confirmations.
So if the assembly is ordered and burnin provides order confirmations at his assembly service I can definitely check if he ordered the service or not. The Asic chip buy is already very transparent because Foofighter could provide verified payment addresses for the stated chip orders.

In the case Foofighter scams investor funds, I will provide every investor with Foofighters identity.

As scam I would evaluate a behaviour of Foofighter where damage to his investors is caused on purpose. Examples given:

Foofighter got the miners delivered but doesn't announce it or doesn't make payouts / stops his payouts respectively, is inactive in the forum for over 1 month.
If he announces his absence (vacation or hospital stay) the amount of time will be elongated respectively.

He is inactive in the forum for over 6 months and is also unavailable to reach in general.

I will exclude every circumstance where the chips deliverer or the assembly service of the ASIC devices is to hold accountable and Foofighter has no influence.
Example given:

Avalon doesn't deliver the ASIC chips.

Any circumstances beyond Foofighters control , (eg.: Foofighter house burned down, he gets shut down, the miners get robbed, etc.) in that case Foofighter has to prove that this was really the case.

One or more mining devices get damaged without inappropriate influence through Foofighter and cannot be repaired without additional costs.

The mining is not profitable any more, which means the power costs + the handling fees are higher or equal to the mining outcome, in this case Foofighter can only sell the miners and split the selling revenues proportionally to all investors, or the investors can have their mining device sent home to them depending if the amount of shares they are holding is equal to a full mining device. (this option would require to pay additional shipping and packaging costs which have to be paid by the investor)

Every other matter will be evaluated by common sense.

I have already provided this kind of service for other Projects:

yxts Avalon Gemeinschaftskauf: https://bitcointalk.org/index.php?topic=157128.0;topicseen

The beginning Candoos Avalon Community Mining, now listed as Cado.AvalonB3 on Bitfunder: https://bitcointalk.org/index.php?topic=158935.0

and

Candoos BFL Community Mining: https://bitcointalk.org/index.php?topic=160797.0

*I am personally not involved in this project and neither have I taken any payments from Foofighter or any other involved body, but I reserve the option to invest in this service myself.

** The purpose of this service is only to provide investors with some limited amount of security (Identity of the provider is known) while at the same time enable him to stay anonymous, which is understandable if you plan to host expensive mining equipment.
I don’t guarantee that this service is risk free and/or profitable.

***If somebody quotes this text it will be unchangeable bound to the forum.

[Eric Muyser]

Thanks Foofighter, that's perfect!

I wish someone would do this with Bitfury's (600% more GH per dollar, less power).

Just have seen the Bitfurys Asic thread , but this sounds for the moment to risky for me, there is still no proof and also no excrow allowed.

No proof, but you can hold the coins in your own new wallet if you purchase through their site (6-10% fees).

[Foofighter]

Thanks Foofighter, that's perfect!

I wish someone would do this with Bitfury's (600% more GH per dollar, less power).

Just have seen the Bitfurys Asic thread , but this sounds for the moment to risky for me, there is still no proof and also no excrow allowed.

No proof, but you can hold the coins in your own new wallet if you purchase through their site (6-10% fees).

Hi Eric,

yesterday we started an interest Thread for a Groupbuy and hosting, maybe you are interested:
https://bitcointalk.org/index.php?topic=223857.0

Please all further discussions about this Topic, in the new thread.

regards

[runam0k]

runam0k; 6; 1H4FVh66xggigFeCtSqtXdU4rAyd4YUbXP; 92.59; IASaHTJwh16vmFgK07Nh2mA7Q0hbksNR1U6YKJdk4DkaEZxuJtO0wipfcTSlRrIYt783YdCY1xqmCi+mtnms0QE=

Thanks

[Foofighter]

Hi guys,

table is updated, thanks!

regards
Foo

[Foofighter]

Hey guys,

after starting another project with metabank Asic devices, I decided to Limit this project to 37 Shares.

Because the other project with the Bitfury devices got so popular I have already a lot a Gh/s to host.

This means there are only 2 Shares left to buy in this project!

The machines we decided to buy for the Mining are definatly:

• 2x Burnin 20 Chip Miner
• 5x Klondike 16 Chip Miner

There will be no changes for the investors so far, every conditions stay the same only the size of this project will be small but this is no disadvantage at all.

Thanks for your understanding

Best regards
Foo

[Akka]

I give some People new to Bitcoin the chance to get involved. So I wait with buying myself.
But if nobody has bought the remaining two shares in 24 hours form this post, I will buy them myself so that this project can get finalized.

[Freedom24]

I want Buy the 2 Shares. I will make the Payment now.

Edit: Paid

[Foofighter]

I want Buy the 2 Shares. I will make the Payment now.

Edit: Paid

Thanks a lot, just updated the Investors list!

All Shares are sold, now we just have to wait a bit

regards

[Foofighter]

Hey guys, just to keep you updated.

It seems Avalon started to delive their test chips, this looks very promising to me

see Thread here:
https://bitcointalk.org/index.php?topic=210136.msg2416604#msg2416604

[Foofighter]

Hey guys,
burnin posted some new renders of his Miners, looks very nice -see here!

Delivery of sample chips seems to have started.

Awesome news!

And I promised mechanical drawings and new renders.
Here they are:


Right:

Back

Bottom:


Bigger stack of 8 boards (160 Chips):







Protoype PCB:







Mechanical Drawing for custom cooling design's:
https://www.dropbox.com/s/gkuayv84tr63x70/BitBurnerXX_rev3.pdf

[Foofighter]

Hey guys,
 just noticed that burnin will get his first Sample chips this Friday the 14th of June!

Burnings chips



regards
Foo

[Cryptoin]

If anyone is interested in selling shares let me know.

[Freedom24]

If anyone is interested in selling shares let me know.

5 BTC for my 2 Shares?

[Cryptoin]

If anyone is interested in selling shares let me know.

5 BTC for my 2 Shares?

Did't realize I was on eBay... No thanks.

[Foofighter]

Hey guys,

have some good news for you.
Burnins Prototype is already hashing!

Quit? Let the riot begin:







The Firmware is not yet production ready cgminer throws a shitton of errors on starting.
AND the chip currently runs at 128Mhz because its not properly cooled, i have tested it at 256mhz too and it works but its too hot for long tests.

Now the bad news:
I will very likely not get the boards tomorow so we have to wait until Monday.

[Foofighter]

Hi guys, burnin got his first real PCBs for the Prototype Miners!

Hopefully burnin receives the Printed Circuit Boards soon.

You want PCB, you GET PCB!





Gold plated swag!

[Foofighter]

Burnins Prototype Miner, fully assambled and ready for testing!

Onto what we'd like to see in the thread..

We've seen naked board pron, but what about a little beauty all blinged up with components and cheeky little ASICs   

Be careful what you wish for, it might become true.





Solder paste Jet Printer - no stencils needed


Pick and Place my Jobs was run on


Pick and Place assembly of my board


Soldering in vapor phase.


Big black mean machine, does 20.000 components per hour.


I am literally DEAD now, I need sleep.
But the first tests show all power supplies working as expected, no magic smoke escaping, and thats what electronics is all about.

[Foofighter]

Hey guys,

Avalon delivered the first Batch from zefir, so hopefully our mining chips will also arive soon and we can start thsi venture here!

regards
Foofighter

[phzi]

Too bad you limited shares.  I would have been interested.

[Foofighter]

Hey,

had to because of other project, maybe take a look at my other projects. Maybe someone is selling his shares at a good price.

[k4spr]

Any updates about the project?

[Foofighter]

Hi,

unfortunatly none of our chips are delivered from avalon.

Will let you know when this happens.

[ChronoX5]

I'm currently trying to catch up on all the threads but it looks like Avalon fucked up pretty badly with the chip production. Please let me know if you plan to do anything 

[ChronoX5]

Hi, I just sent you a PM but I want to post it here as well. I would like you to request a refund from Avalon as soon as possible before they run out of money or deliver the chips. I fully understand that their might have been other expenses for hardware, etc..

[Foofighter]

Hey guys,

I was on vacation and just came back, I will look into this matter and come back to you with our options.

BR

[ChronoX5]

Hey guys,

I was on vacation and just came back, I will look into this matter and come back to you with our options.

BR

Thank you. In case you bought the chips from SebastianJu's Group Buy there seems to be a deadline for tomorrow although I have to admit I didn't understand the last pages of the thread completely. It seems to work by a first come first serve basis. So in case we decide on a refund we would have to act really fast. I hope we're not too late yet.

[Foofighter]

Hello everyone,

the last day were very troublesome here on the forums, avalon announced their refunds, bitfury delievered first devices, other sellers reduced Hardware prices a lot!

All of this reasons and the fear of not reaching ROI soon, made people to refund all their avalon chips.

Lately also I think it's probably the best thing to do.

Unfortunatly the decitition was taken out of our hands, I was on vacation the last days with no internet access and during that time more then the half of all chip buyers from group buys were we participate decided to refund the chips (bizwoo and sebastianju).

So this means that this project will be canceled and I will refund all remaining Funds back to you. We decided not to charge anything from the already purchased hardware like Fans, cables and a server from you.

But we have to pay groupbuy fees and escrow fees from groubbuys, which means that we can  only Refund about 95% of your investment in BTC to your payout adresses as soon as we have got the refunds.

I'am very sorry that we can not do a 100% refund and this venture was a loss for you guys

I hope for your understanding.

EDIT: I will send this also everyone as PM now

BR
Foofighter

[ChronoX5]

Hello everyone,

the last day were very troublesome here on the forums, avalon announced their refunds, bitfury delievered first devices, other sellers reduced Hardware prices a lot!

All of this reasons and the fear of not reaching ROI soon, made people to refund all their avalon chips.

Lately also I think it's probably the best thing to do.

Unfortunatly the decitition was taken out of our hands, I was on vacation the last days with no internet access and during that time more then the half of all chip buyers from group buys were we participate decided to refund the chips (bizwoo and sebastianju).

So this means that this project will be canceled and I will refund all remaining Funds back to you. We decided not to charge anything from the already purchased hardware like Fans, cables and a server from you.

But we have to pay groupbuy fees and escrow fees from groubbuys, which means that we can  only Refund about 95% of your investment in BTC to your payout adresses as soon as we have got the refunds.

I'am very sorry that we can not do a 100% refund and this venture was a loss for you guys

I hope for your understanding.

EDIT: I will send this also everyone as PM now

BR
Foofighter

Thanks you're the best! I'm totally fine with the lower refunds. Considering the current bitcoin/dollar price it might even be profitable (at least if you're still using dollars.)

[Foofighter]

Current status:

We are still waiting for chip refund from avalon

[Foofighter]

news:
bizwoo got the refund today.

He just needs to distribute it now and then I can also refund all of you asap

Foofighter

[Foofighter]

Hey guys,

I received the refund now.

But I will start the refund distribution in 24hours - This timeframe is for you to check if the payout adresses in the table is right - If its right you dont have to do anything, if not just shout me a PN:


I will send this message also via PN to all participants.

Thanks for your patients.

cheers
Foofighter

[Freedom24]

My Payoutadress look rigth. But I think it will be better if you sent to everybody 0.000000XX BTC to check that the payoutadress is rigth.
 

[Foofighter]

Hey guys,

Refund is done:
https://blockchain.info/de/tx/98252a7983542f02d16bb71a96c3c4488cbad12eab25e4dca49fee385007bc5e

Thanks for your great support, Iam very sorry of this unfortunate circumstances

As guessed before ~97% of you Initial investment in BTC have been refunded now, Iam very sorry for you loss guys.

I hope you all find a better investment then Avalon for the future.

If you want to support me, please be so kind to fill a positive Trustrating for me here:
https://bitcointalk.org/index.php?action=trust;u=94005


Thanks guys
Foofighter

[Akka]

As this Project and all other Projects from Foofighter are closed without him scamming anyone I will permanently delete all Data I have from him within 1 Month of this Post.

If there are still any open claim against him and his Identity may still be needed, please let me know within this Time.