[Group Buy 1 &2 SOLDOUT) AVAIL 1 KNC SATURN [200GHs Miner] Day 1 Deliver

[joeventura]

yes received 0.0001

Was wondering where the hell that came from!! LOL

[Charles999]

Okay, I updated the spreadsheet to show who's confirmed their tiny deposit and is ready for payment.  If your name is not checked off.  Please confirm that you received the tiny deposit I sent yesterday.  I will not send payment to the Bitcoin address on the list until I have received confirmation from you via message.  This is to protect you and me from any mistakes.  Looks like only 7 confirmations are missing at the moment.

https://docs.google.com/a/emcsd.org/spreadsheet/ccc?key=0AkhCYA7Cr4o3dFhqOGF2U3VXeEVjVEo5T1lUQXBOX0E&usp=sharing#gid=0

[33Warlord]

I received mine & sent a PM also.

Thanks again for running this!

[Charles999]

Everyone who's confirmed their address should have their first payment already.  Let me know if there are any issues.

Charles

Okay, I updated the spreadsheet to show who's confirmed their tiny deposit and is ready for payment.  If your name is not checked off.  Please confirm that you received the tiny deposit I sent yesterday.  I will not send payment to the Bitcoin address on the list until I have received confirmation from you via message.  This is to protect you and me from any mistakes.  Looks like only 7 confirmations are missing at the moment.

https://docs.google.com/a/emcsd.org/spreadsheet/ccc?key=0AkhCYA7Cr4o3dFhqOGF2U3VXeEVjVEo5T1lUQXBOX0E&usp=sharing#gid=0

[adamthefishman]

Thanks Charles.

Good to see the start of roi.

Just for the records, what exact period does this payment cover?

I believe the next payments will be approx 2 weeks apart, is this correct?

Regards,

Adam

[Charles999]

I was thinking, it might be best to payout everytime we get close to 9-10 BTC.  If we send a lot of small payments, we'll run into a lot of transaction fees.  So next payment will probably be about a week and a day or so.

[conceptxp]

received 0.0001

[superresistant]

I was thinking, it might be best to payout everytime we get close to 9-10 BTC.  If we send a lot of small payments, we'll run into a lot of transaction fees.  So next payment will probably be about a week and a day or so.

If you own 1 share, the transaction fee represent 0.088% of the amount so it is not an issue. I guess it is some work to send all transactions one by one, just do it when you have time.

[ivanlabrie]

I was thinking, it might be best to payout everytime we get close to 9-10 BTC.  If we send a lot of small payments, we'll run into a lot of transaction fees.  So next payment will probably be about a week and a day or so.

Transaction fees are not much, but they add up...
Chuck, you got pm bro.

[ivanlabrie]

I was wondering, maybe we should sell the units asap?

http://www.ebay.co.uk/sch/i.html?_odkw=KNC+bitcoin&_fspt=1&_osacat=0&_from=R40&LH_PrefLoc=2&_trksid=p2045573.m570.l1313.TR0.TRC0.XKNC+saturn&_nkw=KNC+saturn&_sacat=0

We can buy more btc than we can mine probably...thoughts guys?

[superresistant]

I was wondering, maybe we should sell the units asap?

http://www.ebay.co.uk/sch/i.html?_odkw=KNC+bitcoin&_fspt=1&_osacat=0&_from=R40&LH_PrefLoc=2&_trksid=p2045573.m570.l1313.TR0.TRC0.XKNC+saturn&_nkw=KNC+saturn&_sacat=0

We can buy more btc than we can mine probably...thoughts guys?

Yes if we can make more than the expected ROI.
I'll put some math later.

[superresistant]

So here is the maths :

The maximum expected profit is 2140usd, the total price for the two machines was 5990usd

See estimation

Total price + max profit = 8130usd

So 4065usd for one machine which is 2542gbp.

Considering the lowest price from ivanlabrie link was 2668.09gbp, selling the machines on ebay is a good option.

We would instantly get our money back plus the expected profit.

What do you guys think ?

EDIT : About the expected profit, it is hard to estimate it. On my estimation I used a difficulty increase of 117% per month because it is the actual trend. It could be less but it could be more. An other thing is the electricity cost, because of it, we should start to loose money in about 7 months unless we have free electricity.

[ivanlabrie]

Problem would be if the guy mines and then does a paypal chargeback, and we get screwed after 45 days.

[superresistant]

Problem would be if the guy mines and then does a paypal chargeback, and we get screwed after 45 days.

Fuck Paypal, only do in hand transaction with cash.

[thegoldbug]

I have to admit that this purchase of shares looks like my only bitcoin mining hardware investment that will break even.

These shares look like they will even make a profit so the question is how greedy should I (we) be?

A 20 percent profit (over a 6 month period) sounds great.

Unfortunately, there are a probably a number of us with loses in other bitcoin hardware investments and I'm sure we would all like to make as much as practical on this investment to help offset some of those other losses.

I would vote for selling if we could get a guaranteed return of 20% on our investment.  Let the new buyer take on the risk of worrying about rising difficulty rates.

Sure, we might miss out on more profits but keep in mind there is a LOT of hashing coming online quickly and by selling we miss out on the potential loses.

Just my two cents.

thegoldbug

[Charles999]

We need 41+ shares to win the vote to sell or attempt to sell.   I will list on ebay if we get enough votes. 

[thegoldbug]

I'm just been checking out the auctions on Ebay for Butterfly Labs hardware and most of the gear is selling for a lot more money that it will ever earn.  I estimate that a 60Gh/s unit would earn about $900 and yet they are selling for more than $1300 (yes, people are bidding on them).  A lot of the 60Gh/s units are listed for much more but no suckers on those yet.

http://btcinvest.net/bitcoin-mining-profit-calculator-v1.php?diff=267731249.48242&dcosts=600&diff_mincrease=95&blpbtc=25&dhsmhs=60000&btcusd_mincrease=0&btcusd=135&dpowcon=60&dleadtime=0&pcost=.08&calcweeks=40&action=calc

There is one Saturn listing in the USA for a Buy it now price of $4250 and the seller has 3 of them ALMOST in hand (supposedly by end of the auction).  The invoice price was $3897.  

He is only asking for 9% more than his invoice.

It will almost breakeven at that price using these assumptions but a week lost in assembly and shipping will really cost the buyer.

http://btcinvest.net/bitcoin-mining-profit-calculator-v1.php?diff=267731249.48242&dcosts=4250&diff_mincrease=95&blpbtc=25&dhsmhs=285000&btcusd_mincrease=0&btcusd=135&dpowcon=200&dleadtime=0&pcost=.08&calcweeks=40&action=calc

If we were to list ours at Cost + shipping, then our profit would be whatever BTC we got this week plus another 5 or 7 days during the auction and that should work out to a nice percentage return.  If we don't get a buyer we haven't lost anything, our Saturn will still be mining away.

[ivanlabrie]

I'm just been checking out the auctions on Ebay for Butterfly Labs hardware and most of the gear is selling for a lot more money that it will ever earn.  I estimate that a 60Gh/s unit would earn about $900 and yet they are selling for more than $1300 (yes, people are bidding on them).  A lot of the 60Gh/s units are listed for much more but no suckers on those yet.

http://btcinvest.net/bitcoin-mining-profit-calculator-v1.php?diff=267731249.48242&dcosts=600&diff_mincrease=95&blpbtc=25&dhsmhs=60000&btcusd_mincrease=0&btcusd=135&dpowcon=60&dleadtime=0&pcost=.08&calcweeks=40&action=calc

There is one Saturn listing in the USA for a Buy it now price of $4250 and the seller has 3 of them ALMOST in hand (supposedly by end of the auction).  The invoice price was $3897.  

He is only asking for 9% more than his invoice.

It will almost breakeven at that price using these assumptions but a week lost in assembly and shipping will really cost the buyer.

http://btcinvest.net/bitcoin-mining-profit-calculator-v1.php?diff=267731249.48242&dcosts=4250&diff_mincrease=95&blpbtc=25&dhsmhs=285000&btcusd_mincrease=0&btcusd=135&dpowcon=200&dleadtime=0&pcost=.08&calcweeks=40&action=calc

If we were to list ours at Cost + shipping, then our profit would be whatever BTC we got this week plus another 5 or 7 days during the auction and that should work out to a nice percentage return.  If we don't get a buyer we haven't lost anything, our Saturn will still be mining away.

Agreed, I say we list it for sale soon. An auction sounds good to me, and meanwhile we keep mining with it.

[thegoldbug]

Ebay listing for a Saturn for sale in Ireland is up to US$5,532 and has 8 bids.

Those 3 Saturns I mentioned for $4250 on ebay yesterday are gone today.

It appears we could sell our Saturn for a very good price and make far more than 25% return on our money (in what 6 months or less).  That's a huge return.

But we need others to vote in favor of this! 

[everybodyclapyohands]

I am in favor of selling with a reserve price so we don't lose any money. That's better than what mining BTC can guarantee at this stage.