[Group Buy]12 KNCminer Jupiter's 15 Sold [Closed] Jupiter Pool

[sprint347]

https://www.kncminer.com/categories/miners

This device is being designed in parallel by the ORSoC engineers and will offer industry leading performance and power consumption per GH.

The final specifications for this device are being ironed out now but we can confirm the following.

    Minimum 350GH/s per device.
    28nm Standard ASIC
    Maximum 1000w
    Shipment begins in September

So it looks like you may need a 1000w ATX PSU for each Jupiter

[soniq]

Appears that way, will clarify with KNC.

If we  need to  buy, the group will need to buy 12 PSU

[dutu]

Payment sent for 3 shares

https://blockchain.info/ro/tx/fb96ba775cac39e380f1ad220a3aec5058143d5a7a30abe9986b3fd5459e47b6

Thanks

[dutu]

Payment sent for 1 additional share

https://blockchain.info/ro/tx/459fd30dfcf5a75fbf40b85fbd6723549d9f363548dab95ea962482c07b074e4

[KSV]

Soniq,
Could I just clarify that proceeds will be shared out prorata form ALL delivered Jupiters to ALL shareholders.

By that I mean if the first 2 jupiters get up and running first then will all shareholders be getting shares from that moment.

I presume that the jupiter number that a shareholder has contributed towards (e.g. 2nd on your documents) is purely for your own administration and letting us know where you're at.


Is this correct?

Many Thanks

I have have clarified this in OP. That priority will be given to shareholders in order they invested  in case of partial delivery.

My reasoning is that this GB is not an recognized equity/offering, but a combined effort to buy 12  Jupiter miners. Therefore your share purchase is buying a portion of earnings from one or more Jupiter miner.  .

Surely everyone should get a share of each and every miner that starts hashing, that is what a group buy for shares in 12 (or part thereof) jupiters is.
Otherwise we have just invested in a group buy of 1x Jupiter, of which you are doing 12 times!
 

+1

the early bird gets the worm, always. Sonics initial plan seems fair, IMHO, to reward the 1s who got in earlier than the rest. The risk is much higher when no1 is in the game yet - once the ball is rolling the mob mentality kicks in and makes it easier for the rest to join in.

[markj113]

As no.1 on the list I totally agree 

[wedgy2k]

+1
Early supporters should be rewarded earlier
I deliberated for a number of hours and sent my (hard earned GPU mined) BTC in blind faith, as this was a few days before John K had verified soniq's identity - at which point I felt a lot easier about my investment.
If the returns are near the 11.44gh's per share, I'll be extremely pleased with this investment

I believe the risks now are :-
As more ASIC's come on line the BTC prise will fall as the new BTC's are generated too quickly / easily and sold cheaper so investors can get an understandable early return on their investments.
Satoshi throws his fortune in the ring (Another price crash)
The US Govt - Doing what the US Govt does (Rich from a Brit I know..... Where everything is illegal!) But we need USD flowing into GOX / Other exchanges.

KNC doing a BFL!!!!!! (This is the big one for me)

[weaknesswaran]

3 Shares

TX ID ad20b8cc487f506b8c936651097ad514128356bac091ff59bf3eb2b61fa72610

[sprint347]

It's pretty clear in the original post:

Each share entitles the owner to 1/360th* of the BTC proceeds from the group of 12 KNC Jupiter's mining 24/7 till no longer profitable or sold (less expenses and management fees)

As 'early adopters' you managed to capitalize on the BTC2.00 share price instead of paying BTC2.25

That and you got in early enough to avoid 'missing out' at the tail end of the buy-in. Remember, 30 full shares need to be purchased for a Jupiter to be ordered.

[RayG]

As more ASIC's come on line the BTC prise will fall as the new BTC's are generated too quickly / easily and sold cheaper so investors can get an understandable early return on their investments.

More hash power doesn't mean more BTC generated!

[wedgy2k]

As more ASIC's come on line the BTC prise will fall as the new BTC's are generated too quickly / easily and sold cheaper so investors can get an understandable early return on their investments.

More hash power doesn't mean more BTC generated!

Apologies,
But this is why I wanted to get an in to ASIC so I could HASH with the big players.
Will the difficulty just keep increasing then?
All this heavy artillery coming on-line will have an effect on the BTC eco system
And my pathetic GPU efforts will no longer be worth the effort (I'm deliberating on this now, but I love being a Miner)

IMHO.

[pgbit]

> "the early bird gets the worm, always. Sonics initial plan seems fair, IMHO, to reward the 1s who got in earlier than the rest. The risk is much higher when no1 is in the game yet - once the ball is rolling the mob mentality kicks in and makes it easier for the rest to join in."

^ I agree with this principle, but... sprint347 is right, the 1/360th comment did imply there was an element of pooling

Also, what if a Jupiter has excessive down-time at any stage? Do the owners of that Jupiter pay up, or is the risk spread? If the first Jupiter is set up and shares go directly to the shareholders in precise sequence, then it would be unfair later to pool the returns if that Jupiter was faulty or had down-time for a few weeks or longer. Spreading the risk across machines might therefore have its advantages especially for those with a larger share in any 1 particular machine. Something that might affect the decision is the precise pre-order slot of each Jupiter. If they are bunched up together very close 65-85, it is going to be less of an issue perhaps. But then again, if there is a top 10 order slot in there somewhere...

[wedgy2k]

Ok, I'm having a change of mind here

The pool win or fail mentality is probably fairer in the event of Downtime / failures / repairs etc

And I did originally buy in to an X/360 share scheme
So as more come on line my share is worth more and if we have a failure / downtime / maintenance window, I do not singularly foot the bill.

And it probably easier for sonic to manage it as a pool as opposed to working out / cataloging who owns what bit etc....

[markj113]

Ok, I'm having a change of mind here

The pool win or fail mentality is probably fairer in the event of Downtime / failures / repairs etc

And I did originally buy in to an X/360 share scheme
So as more come on line my share is worth more and if we have a failure / downtime / maintenance window, I do not singularly foot the bill.

And it probably easier for sonic to manage it as a pool as opposed to working out / cataloging who owns what bit etc....

Even though in 1st on the list I do agree with this,  Having a larger pool will spread the risk of downtime + early the birds got the cheaper price as a bonus.

[RayG]

As more ASIC's come on line the BTC prise will fall as the new BTC's are generated too quickly / easily and sold cheaper so investors can get an understandable early return on their investments.

More hash power doesn't mean more BTC generated!

Apologies,
But this is why I wanted to get an in to ASIC so I could HASH with the big players.
Will the difficulty just keep increasing then?
All this heavy artillery coming on-line will have an effect on the BTC eco system
And my pathetic GPU efforts will no longer be worth the effort (I'm deliberating on this now, but I love being a Miner)

IMHO.

Blocks (=25 new bitcoins) are mined every 10 minutes (on average). Difficulty is automatically adjusted every 2016 blocks and - yes - it can decrease... (every miner's dream)

[bbxx]

what is share cost now ?

[LiteBit]

I'm not part of this buy but have been watching from the outside.
A couple things the investors need to get clarity on.

1. Is Soniq just a pass-through in essence to get at one or multiple Jupiter orders?  From what I can see he has put no money into it (only the pre-order spot) and at the least gains a maintanence fee because 8 miners have been bought by the group so far.
2. The above is confirmed by the fact that as BTC dropped in value the OP changed (thus his original terms) from 2BTC per 1/360 share to 2.25BTC per 1/360 share.  Destined to go up again with the BTC drop overnight.  This, to me as an outsider, confirms he has no BTC in this group buy.  The group is picking up the extra costs.  Again he just collects a maintainence fee.
3. Power supply has been brought up.  The orders the group made don't include power supplies.  That's $200 or more per unit someone has to buy.  Remember, Soniq hasn't put any money into this group buy, so he's going to push the PSU costs onto the buyers.  Once again, changing his Terms.  And he can just collect the maintenance fee on that too.
4. There's the issue of 1/360 ownership in a "mining collective", versus 1/360 ownership in a group buy, versus 1/360 ownership in 8 units, versus 1/30 ownership in 1 unit.  All confusing and not resolved as I read through as a neutral party.  This needs clarity, yet I feel it may once again change the Terms on the OP.  This will go on the buyers again with skin in the game.  Soniq hasn't skin in the game.  He's just providing a pass-through to a low order number and collecting a handsome maintainence fee for life.

Again, I'm just an outsider following this thread.  It really interests me and I know both groups can resolve all these things.  You guys have been admirable getting this far in a short time.  Just make sure all Terms are clear and there is accountability among all players.

[retrostar]

1 share

TX ID: 151f6f774c480ab2e1b93eba3b180fb0848989235175fe51b15707bc394fcb01

wallet address: 1MXJhz5m5R4zhvdqrZe45xkFigyEiT7UjZ

Cheers

[BenTuras]

If you havnt already download Bit Message, will be using this for contacting shareholders about updates, payments and trading shares

I can't get Bit Message to run on OSX. So I'll appreciate it if messages are posted here too.

[wedgy2k]

If you havnt already download Bit Message, will be using this for contacting shareholders about updates, payments and trading shares

I can't get Bit Message to run on OSX. So I'll appreciate it if messages are posted here too.

Me too, when i have time, i'm going to work through these
https://bitmessage.org/forum/index.php/topic,1451.0.html -
https://bitmessage.org/forum/index.php/topic,1690.0.html -

But if you could keep the updates in here for us "Apple Fanboys..." for now please?