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mxmz.in
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June 08, 2013, 11:58:25 AM |
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I'm taking the last share, topping mine shares up to 4
Tx:e1b7357f06c2a18ed9ad249c5c440413794b470e40559145a38c13c6160de4d9
My addr for payments: 1AQU9nV9Nh5ZwdSnDdCvyhcBDM4dz3nDvi
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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tyrion70 (OP)
Legendary
 Offline
Activity: 934
Merit: 1000
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June 08, 2013, 12:09:37 PM |
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Mabsark, Afro25 and mxmz.in confirmed! I'll update the start post now. We're now selling for the 8th miner already!
EDIT: @22naru; we will do our best to get it up on btct.co as soon as possible but we strongly believe in "first time right". I do believe it should be possible to do this this month (if btct.co is that quick on an IPO, not sure about that)..
Cheers,
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btceic
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June 08, 2013, 12:23:37 PM |
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1 Share gives you the right to 1/124th of the BTC proceeds from a KNC Jupiter Miner mining 24/7 for 24 months after deduction of costs for hosting. The remaining 4 shares will be owned by OP as payment for maintaining the miners.
Payment will be bases on the total proceeds from all miners in this group buy plus the miners bought privately by OP. We believe this is the most honest way to deal with payments and makes it easier to go public with the shares.
The two statements above contradict each other. 1) You state that each share gives us the right to 1/124th of the proceeds from A KNC Jupiter Miner. 2) It sounds like each share will receive 1/124th the proceeds from ALL miners So which one is it? 8 Miners @ 350 GH/s == 2.8 TH/s / 124 == 22.58 GH/s for 0.5 BTC? Or is it 350GH/s / 124 == 2.82 GH/s for 0.5 BTC? If it is the former I will buy 4 shares payable on Thursday when my coinbase purchase comes through |
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tyrion70 (OP)
Legendary
Offline
Activity: 934
Merit: 1000
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June 08, 2013, 12:39:37 PM |
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1 Share gives you the right to 1/124th of the BTC proceeds from a KNC Jupiter Miner mining 24/7 for 24 months after deduction of costs for hosting. The remaining 4 shares will be owned by OP as payment for maintaining the miners.
Payment will be bases on the total proceeds from all miners in this group buy plus the miners bought privately by OP. We believe this is the most honest way to deal with payments and makes it easier to go public with the shares.
The two statements above contradict each other. 1) You state that each share gives us the right to 1/124th of the proceeds from A KNC Jupiter Miner. 2) It sounds like each share will receive 1/124th the proceeds from ALL miners So which one is it? 8 Miners @ 350 GH/s == 2.8 TH/s / 124 == 22.58 GH/s for 0.5 BTC? Or is it 350GH/s / 124 == 2.82 GH/s for 0.5 BTC? If it is the former I will buy 4 shares payable on Thursday when my coinbase purchase comes through I understand the confusion.. I couldn't write it down more clearly cause I don't know how many miners we'll buy eventually.. I'll try to rephrase: Each share gives the right to 1/124th of proceedings of one (1) miner. The proceedings are calculated over all miners. So if we sell 8 miners you receive 1 / (124*8 ) of proceeds of all 8 miners... Because of our IPO intentions we have to treat all shares as equal. Also this deals with "bad luck" in case one of the miners breaks down and needs repair etc.. Hope this clarifies.. With regards to your payment. Thursday is to late. The pre-order closes monday and this groupbuy tomorrow night (GMT) as stated in starting post. We can reserve shares in case you want to pay before closing time but not after I'm sorry. Cheers, EDIT removed the  in the calculation |
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btceic
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June 08, 2013, 12:51:55 PM |
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Thanks tyrion70, yes that cleared it up for me.
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thegoldbug
Member
Offline
Activity: 90
Merit: 10
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June 08, 2013, 12:54:26 PM |
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Now I'm even more confused.
I hope you have your math wrong
"Each share gives the right to 1/124th of proceedings of one (1) miner. The proceedings are calculated over all miners. So if we sell 8 miners you receive 1 / (124*8 ) of proceeds of all 8 miners..."
The math works out to 1 / (992) = 0.001 shares. Note the parenthesis means to multiply 124 * 8, then do the division.
That's a terrible deal and the more miners that are added the lower the fraction of shares we get.
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tyrion70 (OP)
Legendary
Offline
Activity: 934
Merit: 1000
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June 08, 2013, 01:03:51 PM |
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Lol..
Guess u can never do it right..
@Thegoldbug:
1/124 of 1 miner..
or
1/992 of 8 miner...
1 miner gives 124 (for easy calculation)
8 miners give 992
so..
1/124 of 1 miner == 124 / 124 == 1
1/992 of 8 miners == 992 / 992 == 1
so.. 1/124 of 1 miner is the same as 1/992 of 8 miners...
Get it?
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Mabsark
Legendary
Offline
Activity: 826
Merit: 1004
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June 08, 2013, 01:07:42 PM |
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Now I'm even more confused.
I hope you have your math wrong
"Each share gives the right to 1/124th of proceedings of one (1) miner. The proceedings are calculated over all miners. So if we sell 8 miners you receive 1 / (124*8 ) of proceeds of all 8 miners..."
The math works out to 1 / (992) = 0.001 shares. Note the parenthesis means to multiply 124 * 8, then do the division.
That's a terrible deal and the more miners that are added the lower the fraction of shares we get.
That would be 350 Gh/s * 8 / (124 shares * 8 ) = 2.8 Th/s / 992 shares = 2.8226 Gh/s per share. |
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thegoldbug
Member
Offline
Activity: 90
Merit: 10
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June 08, 2013, 01:15:26 PM |
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Okay,
I'm in for 3 shares (@ 0.5btc = 1.5TC)
Transaction ID: a2dc215a78a32a52a5d60008b0bcbef49de32c4356facbbe504d27510dffa257
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marlo_brando
Newbie
Offline
Activity: 14
Merit: 0
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June 08, 2013, 01:39:43 PM |
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One more share!
ID:
eb85cc76e68847ea1633e0137f190b67b9d7ace3ea44a6f1adb4c3ff27a9a851
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conanmi
Newbie
Offline
Activity: 45
Merit: 0
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June 08, 2013, 04:01:01 PM |
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buy one share BTC 0.5
my btc payment address:1KQVudr8bgmphKLuxJqYSGZ4MDWbYjegEi
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tyrion70 (OP)
Legendary
Offline
Activity: 934
Merit: 1000
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June 08, 2013, 04:13:31 PM |
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I'll be updating the post in a few hours, in the meanwhile we've sold almost 40 shares already!
Cheers
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pcosias
Newbie
Offline
Activity: 12
Merit: 0
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June 08, 2013, 04:39:05 PM |
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8 shares!
ID: 6e1a7b043278169b7c35326271d610ed455250e2d025c9fb45593e1b59862973
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SteveB
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June 08, 2013, 05:00:32 PM |
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Sent 2.00 btc for 4 shares.
TX ID: d083716e734bb80bc4d44c1d96e4ce5043205d875daf302bd8b81e3ff23e8f80
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Bitoy
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June 08, 2013, 05:06:04 PM |
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4 shares. Thanks  b9c13fc036230330b0a4b2605214504d0e176884cc4e06503a4be2428a96045d2013 |
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dnaleor
Legendary
Offline
Activity: 1470
Merit: 1000
Want privacy? Use Monero!
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June 08, 2013, 06:29:36 PM |
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lucazane
Legendary
Offline
Activity: 1198
Merit: 1000
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June 08, 2013, 06:37:00 PM |
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4 Shares
TXID : 93996074682fd47be41337fb76c1a613ddea68c191c2829a8c54deedc7037a1f
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tyrion70 (OP)
Legendary
Offline
Activity: 934
Merit: 1000
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June 08, 2013, 06:53:23 PM |
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Allright, 79 shares sold already for miner 8!
All above transactions have been confirmed and added to first post.
Cheers!
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Stark-Fujikawa
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June 08, 2013, 06:54:38 PM |
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3 shares
Transaction ID: 73b148db32306e314891fd07ae72e3d33f07cf1108c73489a95f3645279e1857
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NL/EN Translator. Will work for crypto.
NXT:13307336450726014831
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lucazane
Legendary
Offline
Activity: 1198
Merit: 1000
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June 08, 2013, 06:58:38 PM |
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I already bought 4 shares.
but i take 9 more shares
tx id : 0bfb523e615bba76b214c455278dd7440068cdb641eb78f36671a2f7ad42c81d
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