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

[soniq]

There have been about 100 names proposed in the emails and I don't know that more than 1 person has voted for the same thing. Can we get a list posted here and a final vote?

I think consolidating some of the info thats been going around through emails/skype/bitmsg(i never set one up)/etc into this thread or even starting a new one would be beneficial!

Well currently we dont have over 50% majority vote so a name will not be an issue

[KSV]

maybe it should be, if u dont vote it will be considered a yes. . . might make it easier - those who dont want to be listed will vote.

[soniq]

maybe it should be, if u dont vote it will be considered a yes. . . might make it easier - those who dont want to be listed will vote.

I will submit a proposal to the group via email tomorrow/today (depending which timezone you are in) regarding the issue

[MilkyLep]

Larry, I wholeheartedly appreciate the work, commitment and time you have put into this venture. Coinsortium/KNC Jupiter GB/Soniq's GB has already shown itself to be successful-no small feat-but I can't shake the feeling that the exchange listed reluctance has little to do with a trivial ~$20 listing fee.

Nor the 2% management fee (for the group buy), or even the ~$350 (monthly?) fee for KNC hosting.

What this community funded mining collective needs most, at this moment, is an open, amicable discourse right here, about the entity's future path. I was extremely pleased to see the overwhelming response to emails sent out, surprised honestly, but I presume we can all agree that with our hectic day to day lives, it contributes too much clutter towards the inbox.

Why not try to keep the updates in emails  while the discussion/motions/opinions/inputs can remain here, allowing us all to build and discuss where we want this KNC pool to shift? Or, if decided, stay stagnate. But please remember, its sink or swim and we can only tread water for so long.

I know I'm not the only member out there with questions or concerns. So fellow investors, please step up and let your voice heard.

Just my 2BTC.

[soniq]

Larry, I wholeheartedly appreciate the work, commitment and time you have put into this venture. Coinsortium/KNC Jupiter GB/Soniq's GB has already shown itself to be successful-no small feat-but I can't shake the feeling that the exchange listed reluctance has little to do with a trivial ~$20 listing fee.

Nor the 2% management fee (for the group buy), or even the ~$350 (monthly?) fee for KNC hosting.

What this community funded mining collective needs most, at this moment, is an open, amicable discourse right here, about the entity's future path. I was extremely pleased to see the overwhelming response to emails sent out, surprised honestly, but I presume we can all agree that with our hectic day to day lives, it contributes too much clutter towards the inbox.

Why not try to keep the updates in emails  while the discussion/motions/opinions/inputs can remain here, allowing us all to build and discuss where we want this KNC pool to shift? Or, if decided, stay stagnate. But please remember, its sink or swim and we can only tread water for so long.

I know I'm not the only member out there with questions or concerns. So fellow investors, please step up and let your voice heard.

Just my 2BTC.

Coinsortium as it is called now how grown to much larger and complex than I could have ever imagined, when I started this GB just over a month ago.  With the growth has come growing pains.

Communicating effectively has been one. I have opened up several channels for communication, but like you mentioned we all lead busy lives  and its hard to commit the time and energy to respond to any and or all.

I am going to create a new forum thread for dealing with events and updates at Consortium. This GB thread has served it purpose, I  will still monitor it to check for questions and concerns.

Coinsortium will be needing a mission statement going forward.

"Providing investors with opportunities to invest in BTC related start-ups that promote and nurture a decentralized banking system and currency." (this is not a final draft)

Coinsortium also believes that the income generated  by its investments can be used for much more than creating better security and standard of living for its investors. It opens doors to more opportunities.

These new p2p/decentralized opportunities will be investigated and presented to shareholders to present more income, diversity  and growth for the group.

I have more plans for Coinsortium going forward, but concentrating on getting our current order of Jupiters mining and paying dividends at the earliest possible time is my main focus right now.

Listing the Coinsortium group shares on Bitfunder will proceed going forward, but without a majority vote it is not a priority.

Coinsortium.org will be presented soon and a new Bitcointalk user Coinsortium will have all soniq's GB merged under Coinsortium username.

Am I the best person to be leading Coinsortium forward? I will be the first to admit that I am not fully qualified in some areas, but with desire,  an ability to learn and support from my mastermind group at Coinsortium we will maximize shareholder value now and into the future.

Cheers

P.S.  I am open to all constructive and positive discussion in this thread, or any other thread related to Coinsortium going forward

[miner_btc]

Having other avenues of communication is all well and good but I really think we should keep it here in the thread for simplicity's sake. Honestly I am surprised how seldom this thread is used. This is where the GB began so it makes sense that all public info about this project be kept here. Announcements can still go out via email but discussion and such should be kept here.

Also, I really think we need to discuss these fees that keep popping up. Here's a particularly apt quote from a recent email for those not following there.

"spent extra money to alter existing code to allow for payments to Bitfunder. "

...even before we had voted to go to bitfunder!

It seems ever since we all put money into this project, more and more little cuts are being attempted to be taken.

Obviously there are management fees (which we all agreed to) but what seems to be confusing is that it's more a management "cut" than "fees". Fees implied to me that they would be paying for all things management ......
 
...now slowly and surely little things get added on to lists

...there was talk of setting a pool up ....(% cost was implied)

...a visit to KNC was asked to be paid for ... (I still don't even know what this was for, why, or how it even came about!)

...setup work to install the miners

...listing on bitfunder is no longer free!

...now the hosting has been mentioned at $350 per unit (not confirmed) but that figure is just robbery! ... (I have air conditioned server room, with generator backup, onsite support, email, sms, im monitoring, and I host web and db servers for £60-£90 a month!)

Whilst I do know that Soniq is working hard on this (and it's appreciated) the management fees alone will stretch to many thousands per month ... so comments like "i'm doing this for free" seem a bit inappropriate.

I also appreciate what Soniq has done, but agree that we are being nickel and dimed to death. I feel like 2% of this GB is plenty to manage it in any form whether that be on bitfunder or not. As for the $350 a month to maintain each miner that really does seem excessive. I prefer to list on BitFunder but the proposed fees really do seem unnecessary, as low as they might be. Listing on BF was supposed to be free or I suspect that many would have voted against it.

[coinsortium]

Have created a new user profile to have all soniqs GB to be merged under one name. 

Coinsortium was created as part of a process for a deadmans switch in case of  soniqs unexpected demise.

Will be adding further updates.

Cheers

[coinsortium]

Having other avenues of communication is all well and good but I really think we should keep it here in the thread for simplicity's sake. Honestly I am surprised how seldom this thread is used. This is where the GB began so it makes sense that all public info about this project be kept here. Announcements can still go out via email but discussion and such should be kept here.

Also, I really think we need to discuss these fees that keep popping up. Here's a particularly apt quote from a recent email for those not following there.

"spent extra money to alter existing code to allow for payments to Bitfunder. "

...even before we had voted to go to bitfunder!

It seems ever since we all put money into this project, more and more little cuts are being attempted to be taken.

Obviously there are management fees (which we all agreed to) but what seems to be confusing is that it's more a management "cut" than "fees". Fees implied to me that they would be paying for all things management ......
 
...now slowly and surely little things get added on to lists

...there was talk of setting a pool up ....(% cost was implied)

...a visit to KNC was asked to be paid for ... (I still don't even know what this was for, why, or how it even came about!)

...setup work to install the miners

...listing on bitfunder is no longer free!

...now the hosting has been mentioned at $350 per unit (not confirmed) but that figure is just robbery! ... (I have air conditioned server room, with generator backup, onsite support, email, sms, im monitoring, and I host web and db servers for £60-£90 a month!)

Whilst I do know that Soniq is working hard on this (and it's appreciated) the management fees alone will stretch to many thousands per month ... so comments like "i'm doing this for free" seem a bit inappropriate.

I also appreciate what Soniq has done, but agree that we are being nickel and dimed to death. I feel like 2% of this GB is plenty to manage it in any form whether that be on bitfunder or not. As for the $350 a month to maintain each miner that really does seem excessive. I prefer to list on BitFunder but the proposed fees really do seem unnecessary, as low as they might be. Listing on BF was supposed to be free or I suspect that many would have voted against it.

Have addressed this with an updated email. Listing of Bitfunder will be free going forward.

[soniq]

Bitfunder update

Will be releasing the shares at 10am MST time tomorrow.

Make sure 2factor is enabled on your accounts.

I am not responsible for any stolen, lost or fraudulent shares, if you do not have 2factor enabled on your account.

You can still have your shares listed on Bitfunder after 10am MST tomorrow.

There are no fees to list your shares on Bitfunder.

Ticker : SNQ.CoinI  for original GB
and       SNQ.CoinII for 2nd GB

[AndrewHenson]

Hello,

I have four Jupiter miners that I have paid for including six months hosting on the KnCMiner pool.

I am not sure if the KnCMiner pool is the best option or not.  I am very new to bitcoin mining.  I just know I need to hit this as fast as I can afford...

If anyone has any reasons why I should mine in a different pool please let me know.


thanks


Andrew

[soniq]

Hello,

I have four Jupiter miners that I have paid for including six months hosting on the KnCMiner pool.

I am not sure if the KnCMiner pool is the best option or not.  I am very new to bitcoin mining.  I just know I need to hit this as fast as I can afford...

If anyone has any reasons why I should mine in a different pool please let me know.


thanks


Andrew

Testing will be the only way to know.

I would set each Jupiter on 4 different pools, then decide which one returns the most.

[slightboyme]

soniq

can you add my email to the mailing list? also what do i need to do to get shares on bitfunder?

[miner_btc]

Hello,

I have four Jupiter miners that I have paid for including six months hosting on the KnCMiner pool.

I am not sure if the KnCMiner pool is the best option or not.  I am very new to bitcoin mining.  I just know I need to hit this as fast as I can afford...

If anyone has any reasons why I should mine in a different pool please let me know.


thanks


Andrew

You will have significant hashing power so the 1.5% fee will end up being a decent amount of BTC. I would recommend bitparking for a decent sized pool with no fee and the ability to earn other altcoins as well through merged mining. Supposedly the other altcoins are worth an additional 16% above and beyond the BTC mined. You may want to test another, larger merged mining pool but bitparking has the most altcoins that are mined. The few others that support merged mining only support BTC and namecoin. When I get my k16s and/or my BFL singles I will mine them with bitparking.

[Plazma]

In case any1 missed it shares are getting traded at https://bitfunder.com/asset/SNQ.CoinI.

If they ship at 6mil thats 11btc/100shares/year with 40% increase/month. shares cost like 4btc/100shares atm.

[MilkyLep]

So you're saying even if prices were at 8BTC/100 shares or .08BTC/share(on BF), buyers would still make a profit of 37.5% ?

...interesting. 

What are peoples opinions regarding the addition of 10 FDD Jupiters Larry mentioned today in e-mail? I too believe more details about escrow and legitmacy should be revealed before investing.

If we were to purchase 4+ KNC Jupiters could the $7750 premium be reduced? I mean the extra $750 is for doing absolutely nothing imho, yea congrats for having the liquid assets and quick ability to order 10 "first day" KNC miners but with the buyer gaining 10% on each sale I'd be tempted to walk away.

/haggling

[slightboyme]

anyone received an email from soniq regarding "negative balance"? I must have missed this but can someone point me to an explanation? Thanks

[soniq]

anyone received an email from soniq regarding "negative balance"? I must have missed this but can someone point me to an explanation? Thanks

All shares have a negative or positive balance depending on the exchange rate at time of Jupiter purchase. Tried to leave the share price alone and not fluctuate too much.

The varying exchange rate means you might have a negative or positive balance on your share purchase.  I posted all the share balances in the spreadsheet. Look in bottom left  for tab "Prorated BTC". There is a complete breakdown of the +/- balances

I also sent out a dedicated email  regarding this matter several times last  and this week



Cheers

[abuelau]

Soniq, for me this was the first email regarding negative balances I got from you.

I wonder if some of the emails you are sending are not getting throught. I recommend you start using mailchimp.com to send theses emails (it's free) because emails sent with more than 20 people in the TO: line can be blocked by many ISPs.

[soniq]

Soniq, for me this was the first email regarding negative balances I got from you.

I wonder if some of the emails you are sending are not getting throught. I recommend you start using mailchimp.com to send theses emails (it's free) because emails sent with more than 20 people in the TO: line can be blocked by many ISPs.

good point, will look into it

[soniq]

We are approaching the final days of waiting for KNC to deliver our Jupiters.

KNC has been chosen  to host the Jupiters, and hosting  with KNC has to be paid in advance.

At todays current exchange rate the cost per hosting a Jupiter  is  approximately .125 a share per month.  $350/30shares/current BTC exchange rate

Jon at Bitfunder has generously offered to pay for the first two months of hosting if you agree to list your SNQ.CoinI and SNQ.CoinII shares at Bitfunder.

To qualify for the hosting prepayment made by Bitfunder,  your  shares must be listed by  August 12th,  2013

Anyone not wanting to participate in this offer  will be asked to make hosting prepayment to  me 1 week prior to KNC announcing shipment of first day delivery Jupiters.

Any Coinsortium  members not making their hosting prepayment on time will be subject to interest on any hosting payments I make on your behalf.

I would like to be able to pay all your hosting fees myself and deduct from mining dividends, but initial hosting fees are going to be in excess of  110 to 180 BTC for the whole group.

-Any members who are currently listed on Bitfunder qualify  for the hosting  prepayment offer and will have their first two months of hosting paid.

-All prepaid hosting payments will be deducted in full from mining income before any dividends are paid.

If you would like to list your shares on Bitfunder, please send me your Bitcointalk username and Bitfunder username

This is a short term interest free loan that Jon is offering.  Jon will be paid back once Jupiters are mining