[OPEN] Confirmed*PAID* USA NO VAT KnC Neptune#3 - .25 BTC = 17 Shares = ~60 Gh/s

[mightycount]

Did you receive my $500 PP for 10 Saturn 11 shares?
Thanks!

[wiredmine]

Hi please PM me the Paypal details.

I'd like to pay for 5 shares preferably to finish off Saturn #11 if there are still spots available. Otherwise Jupiter #1 is fine

[ragingazn628]

11th KnC Saturn:

Xeen - 1 BTC - 2 Shares
pickymeek - .5 BTC - 1 Share
juula - 10 BTC - 20 Shares
samos123 - 2 BTC - 4 Shares
annoEleni - $400 PP - 8 Shares - FB
jamesc760 - .5 BTC - 1 Share - reserved
annoJBerglund - $100 PP - 2 Shares
wolfskill - 1 BTC - 2 Shares
EsDva - 4 BTC - 8 Shares
mightycount $500 PP - 10 Shares
Bamdad - .55 BTC - 1 Share
Fantazygirl  - $200 PP - 4 Shares

Total:
 63 / 78 Shares[/code]

Jupiter 400GH/s Shares:

[code]
1st KnC Jupiter:
reactor - 2.2 BTC - 4 Shares
COINPRADER - .5 BTC - 1 Share
helloge 1.5 BTC - 3 Shares
ezisdog - 1.5 BTC - 3 Shares
danieldaniel - .55 BTC - 1 Share
George900 - .55 BTC - 1 Share
riclas - 10.45 - 19 Shares
Colgate - $600 - 12 Shares
Paranoia - 1.1 BTC - 2 Shares
gtdevo - 6.6 BTC - 11 Shares
sealight - 3 BTC - 5 Shares
Faerbit - .6 BTC - 1 Share
lajz99 - $100 PP - 2 Shares
physalis -2.5 BTC - 5 Shares
czspeedycz - 3 BTC - 5 Shares

Total:
 
70 / 143 Shares

------------

About mining company. Honestly I don't think .100 mh/s will matter much unless you have like 20+ shares BUT

We can probably use this formula:

Saturn Share = 2.56 Gh/s / Total Speed

Jupiter Share = 2.80 Gh/s / Total Speed

Profit for Saturn Shareholders:

(BTC Mined bi-weekly)*(Saturn Share)

Profit for Jupiter Shareholders:

(BTC Mined bi-weekly)*(Jupiter Share)

So let's say the total speed is 3000 Gh/s.

I have 10 shares of Saturn and my friend has 10 shares of Jupiter.

The total BTC mined bi-weekly is 400 BTC.

So:

My cut:
400 * ( 25.6 / 3000) = 3.413 BTC payout.

Friend's cut:

400 * (28.0 / 3000) = 3.733 BTC payout.

Does this make sense?

Also let's say machine 1 and 2 are down for due to fail power supplies or something, those people who are shareholders for those machines will NOT be calculated with the rest of the share holders so it's fair. So IF the machines are down for 2 weeks and it's time to cash out the total speed would become 2600 Gh/s and only the current running machines will be paid.

What do you guys think?

BTW Happy July 4th tomorrow!

[ragingazn628]

Also can we please finish up Saturn? I would like to either finish it ASAP or I will have to move them all to Jupiter. I already knew this was going to happen if we split it I told you guys from a few posts back lol

[Faerbit]

I sent you a PM about my share on the jupiter. Could you please confirm that you got my payment (and that everything else is okay)?

[nobunaga]

i tried to send to your paypal address that you gave to me in pm. but it gives me an error saying " This recipient is currently unable to receive money".  

PS: i am trying to buy 16 shares of jupiter with paypal

[ImThat1Guy]

About mining company. Honestly I don't think .100 mh/s will matter much unless you have like 20+ shares BUT

We can probably use this formula:

Saturn Share = 2.56 Gh/s / Total Speed

Jupiter Share = 2.80 Gh/s / Total Speed

Profit for Saturn Shareholders:

(BTC Mined bi-weekly)*(Saturn Share)

Profit for Jupiter Shareholders:

(BTC Mined bi-weekly)*(Jupiter Share)

So let's say the total speed is 3000 Gh/s.

I have 10 shares of Saturn and my friend has 10 shares of Jupiter.

The total BTC mined bi-weekly is 400 BTC.

So:

My cut:
400 * ( 25.6 / 3000) = 3.413 BTC payout.

Friend's cut:

400 * (28.0 / 3000) = 3.733 BTC payout.

Does this make sense?

Also let's say machine 1 and 2 are down for due to fail power supplies or something, those people who are shareholders for those machines will NOT be calculated with the rest of the share holders so it's fair. So IF the machines are down for 2 weeks and it's time to cash out the total speed would become 2600 Gh/s and only the current running machines will be paid.

What do you guys think?

BTW Happy July 4th tomorrow!

That's... not a mining company at all.

Basically, my problem is I don't see why people who bought in later should be able to get more hashes for less money. Even in your example, the people on the Jupiters earn an extra ~$20 per week, without paying any more. And having people totally left in the cold if their machines stop working at absolutely no fault of their own... that's just bad.

Incorporate it as a proper mining company, with each share being equal. It's easier to account for, and fairer for everybody.

[Bamdad]

I also agree, a share should have same value and same income

[COINPRADER]

About mining company. Honestly I don't think .100 mh/s will matter much unless you have like 20+ shares BUT

We can probably use this formula:

Saturn Share = 2.56 Gh/s / Total Speed

Jupiter Share = 2.80 Gh/s / Total Speed

Profit for Saturn Shareholders:

(BTC Mined bi-weekly)*(Saturn Share)

Profit for Jupiter Shareholders:

(BTC Mined bi-weekly)*(Jupiter Share)

So let's say the total speed is 3000 Gh/s.

I have 10 shares of Saturn and my friend has 10 shares of Jupiter.

The total BTC mined bi-weekly is 400 BTC.

So:

My cut:
400 * ( 25.6 / 3000) = 3.413 BTC payout.

Friend's cut:

400 * (28.0 / 3000) = 3.733 BTC payout.

Does this make sense?

Also let's say machine 1 and 2 are down for due to fail power supplies or something, those people who are shareholders for those machines will NOT be calculated with the rest of the share holders so it's fair. So IF the machines are down for 2 weeks and it's time to cash out the total speed would become 2600 Gh/s and only the current running machines will be paid.

What do you guys think?

BTW Happy July 4th tomorrow!

That's... not a mining company at all.

Basically, my problem is I don't see why people who bought in later should be able to get more hashes for less money. Even in your example, the people on the Jupiters earn an extra ~$20 per week, without paying any more. And having people totally left in the cold if their machines stop working at absolutely no fault of their own... that's just bad.

Incorporate it as a proper mining company, with each share being equal. It's easier to account for, and fairer for everybody.

So... the whole idea of making a mining company is so that we do no need to track each machine separately.  Once we figure out all the shares - then the total div is just the coin generated by the number of shares (less expenses).  No need to track which machine is off line etc.

[ImThat1Guy]

About mining company. Honestly I don't think .100 mh/s will matter much unless you have like 20+ shares BUT

We can probably use this formula:

Saturn Share = 2.56 Gh/s / Total Speed

Jupiter Share = 2.80 Gh/s / Total Speed

Profit for Saturn Shareholders:

(BTC Mined bi-weekly)*(Saturn Share)

Profit for Jupiter Shareholders:

(BTC Mined bi-weekly)*(Jupiter Share)

So let's say the total speed is 3000 Gh/s.

I have 10 shares of Saturn and my friend has 10 shares of Jupiter.

The total BTC mined bi-weekly is 400 BTC.

So:

My cut:
400 * ( 25.6 / 3000) = 3.413 BTC payout.

Friend's cut:

400 * (28.0 / 3000) = 3.733 BTC payout.

Does this make sense?

Also let's say machine 1 and 2 are down for due to fail power supplies or something, those people who are shareholders for those machines will NOT be calculated with the rest of the share holders so it's fair. So IF the machines are down for 2 weeks and it's time to cash out the total speed would become 2600 Gh/s and only the current running machines will be paid.

What do you guys think?

BTW Happy July 4th tomorrow!

That's... not a mining company at all.

Basically, my problem is I don't see why people who bought in later should be able to get more hashes for less money. Even in your example, the people on the Jupiters earn an extra ~$20 per week, without paying any more. And having people totally left in the cold if their machines stop working at absolutely no fault of their own... that's just bad.

Incorporate it as a proper mining company, with each share being equal. It's easier to account for, and fairer for everybody.

So... the whole idea of making a mining company is so that we do no need to track each machine separately.  Once we figure out all the shares - then the total div is just the coin generated by the number of shares (less expenses).  No need to track which machine is off line etc.

Exactly! I made a post about pretty much exactly how to calculate share value a page back.

[Faerbit]

About mining company. Honestly I don't think .100 mh/s will matter much unless you have like 20+ shares BUT

We can probably use this formula:

Saturn Share = 2.56 Gh/s / Total Speed

Jupiter Share = 2.80 Gh/s / Total Speed

Profit for Saturn Shareholders:

(BTC Mined bi-weekly)*(Saturn Share)

Profit for Jupiter Shareholders:

(BTC Mined bi-weekly)*(Jupiter Share)

So let's say the total speed is 3000 Gh/s.

I have 10 shares of Saturn and my friend has 10 shares of Jupiter.

The total BTC mined bi-weekly is 400 BTC.

So:

My cut:
400 * ( 25.6 / 3000) = 3.413 BTC payout.

Friend's cut:

400 * (28.0 / 3000) = 3.733 BTC payout.

Does this make sense?

Also let's say machine 1 and 2 are down for due to fail power supplies or something, those people who are shareholders for those machines will NOT be calculated with the rest of the share holders so it's fair. So IF the machines are down for 2 weeks and it's time to cash out the total speed would become 2600 Gh/s and only the current running machines will be paid.

What do you guys think?

BTW Happy July 4th tomorrow!

That's... not a mining company at all.

Basically, my problem is I don't see why people who bought in later should be able to get more hashes for less money. Even in your example, the people on the Jupiters earn an extra ~$20 per week, without paying any more. And having people totally left in the cold if their machines stop working at absolutely no fault of their own... that's just bad.

Incorporate it as a proper mining company, with each share being equal. It's easier to account for, and fairer for everybody.

The point is not who bought in when. The point is who bought a share for what machine (Jupiter or Saturn). If we gonna make all shares equal would that also mean that people who bought shares later would get BTC right away (as the first Saturn starts mining) and the promised/calculated hash rate is not achieved until all machines are mining? Also equal shares are not mentioned in the survey, so we/ragingazn628 have/has no wide spread opinion about this.

Note that I'm neither pro nor contra for equal shares since the current conditions are somewhat unclear to me.

[siliclone]

11th KnC Saturn:

Xeen - 1 BTC - 2 Shares
pickymeek - .5 BTC - 1 Share
juula - 10 BTC - 20 Shares
samos123 - 2 BTC - 4 Shares
annoEleni - $400 PP - 8 Shares - FB
jamesc760 - .5 BTC - 1 Share - reserved
annoJBerglund - $100 PP - 2 Shares
wolfskill - 1 BTC - 2 Shares
EsDva - 4 BTC - 8 Shares
mightycount $500 PP - 10 Shares
Bamdad - .55 BTC - 1 Share
Fantazygirl  - $200 PP - 4 Shares

Total:
 63 / 78 Shares[/code]

Jupiter 400GH/s Shares:

[code]
1st KnC Jupiter:
reactor - 2.2 BTC - 4 Shares
COINPRADER - .5 BTC - 1 Share
helloge 1.5 BTC - 3 Shares
ezisdog - 1.5 BTC - 3 Shares
danieldaniel - .55 BTC - 1 Share
George900 - .55 BTC - 1 Share
riclas - 10.45 - 19 Shares
Colgate - $600 - 12 Shares
Paranoia - 1.1 BTC - 2 Shares
gtdevo - 6.6 BTC - 11 Shares
sealight - 3 BTC - 5 Shares
Faerbit - .6 BTC - 1 Share
lajz99 - $100 PP - 2 Shares
physalis -2.5 BTC - 5 Shares
czspeedycz - 3 BTC - 5 Shares

Total:
 
70 / 143 Shares

------------

About mining company. Honestly I don't think .100 mh/s will matter much unless you have like 20+ shares BUT

We can probably use this formula:

Saturn Share = 2.56 Gh/s / Total Speed

Jupiter Share = 2.80 Gh/s / Total Speed

Profit for Saturn Shareholders:

(BTC Mined bi-weekly)*(Saturn Share)

Profit for Jupiter Shareholders:

(BTC Mined bi-weekly)*(Jupiter Share)

So let's say the total speed is 3000 Gh/s.

I have 10 shares of Saturn and my friend has 10 shares of Jupiter.

The total BTC mined bi-weekly is 400 BTC.

So:

My cut:
400 * ( 25.6 / 3000) = 3.413 BTC payout.

Friend's cut:

400 * (28.0 / 3000) = 3.733 BTC payout.

Does this make sense?

Also let's say machine 1 and 2 are down for due to fail power supplies or something, those people who are shareholders for those machines will NOT be calculated with the rest of the share holders so it's fair. So IF the machines are down for 2 weeks and it's time to cash out the total speed would become 2600 Gh/s and only the current running machines will be paid.

What do you guys think?

BTW Happy July 4th tomorrow!

The fairest method I can think of to rectify the mining company issue is to assign each share an equal hash rate with shares becoming "active" when the machine it is assigned to has been delivered and joins the pool. Thereafter there would be no notion of a share belonging to a specific machine, and the profits and risk would be distributed evenly to all active shareholders.
Granted, the existence of the Jupiter in the mix slightly complicates things in terms of getting persons on board with the agreement, but since it hasn't been ordered yet I suspect the best way is the most straightforward: Put the plan to those that have reserved shares in the Jupiter about equal hashing/profit distribution and give them the chance to opt in or out with a refund if they so choose.
Once all the mess is dealt with, it become easy to do things such as reinvesting a portion of profits to purchase new equipment and increase the pool's overall hashing power, etc.

I honestly can't think of a more straightforward way. Shares become fungible, people that bought in early are rewarded accordingly, no single person or group is at risk of losing profits due to machine down time or scheduled maintenance, and you now have an index that can be used to price future shares were the pool to be augmented with more hashing power.

Those are my final thoughts on the matter. I'm in either way.

[floatyfish]

As someone who has shares in both the Saturn and the Jupiter, I would rather have the shares reflect the hashing power of the machines that are present. However, if people did want refunds, that might make it a bit complicated, especially if their funds were already used to order the machines.

[ImThat1Guy]

About mining company. Honestly I don't think .100 mh/s will matter much unless you have like 20+ shares BUT

We can probably use this formula:

Saturn Share = 2.56 Gh/s / Total Speed

Jupiter Share = 2.80 Gh/s / Total Speed

Profit for Saturn Shareholders:

(BTC Mined bi-weekly)*(Saturn Share)

Profit for Jupiter Shareholders:

(BTC Mined bi-weekly)*(Jupiter Share)

So let's say the total speed is 3000 Gh/s.

I have 10 shares of Saturn and my friend has 10 shares of Jupiter.

The total BTC mined bi-weekly is 400 BTC.

So:

My cut:
400 * ( 25.6 / 3000) = 3.413 BTC payout.

Friend's cut:

400 * (28.0 / 3000) = 3.733 BTC payout.

Does this make sense?

Also let's say machine 1 and 2 are down for due to fail power supplies or something, those people who are shareholders for those machines will NOT be calculated with the rest of the share holders so it's fair. So IF the machines are down for 2 weeks and it's time to cash out the total speed would become 2600 Gh/s and only the current running machines will be paid.

What do you guys think?

BTW Happy July 4th tomorrow!

That's... not a mining company at all.

Basically, my problem is I don't see why people who bought in later should be able to get more hashes for less money. Even in your example, the people on the Jupiters earn an extra ~$20 per week, without paying any more. And having people totally left in the cold if their machines stop working at absolutely no fault of their own... that's just bad.

Incorporate it as a proper mining company, with each share being equal. It's easier to account for, and fairer for everybody.

The point is not who bought in when. The point is who bought a share for what machine (Jupiter or Saturn). If we gonna make all shares equal would that also mean that people who bought shares later would get BTC right away (as the first Saturn starts mining) and the promised/calculated hash rate is not achieved until all machines are mining? Also equal shares are not mentioned in the survey, so we/ragingazn628 have/has no wide spread opinion about this.

Note that I'm neither pro nor contra for equal shares since the current conditions are somewhat unclear to me.

Read what siliclone wrote a few posts above. Only people who's machine is active get the hashes. Below is an explanation of what should happen. I explained it as if we finish up buying the 11th Saturn and the one Jupiter, and then close down the buy, just for the sake of simplicity.

Saturn 1 arrives: OP and his buddies get ~2.55GH/s for each share
Saturn 2: OP, his buddies, and the guys on Saturn 2 get ~2.55GH/s for each share.
[etc., etc.]
Saturn 10: Everyone on Saturns 1-10 get ~2.55GH/s for each share (this assuming that we get the first 10 Saturns, then the Jupiter, then the 11th Saturn)
Juptier: Everyone on Saturns 1-10, plus Jupiter 1, get ~2.61GH/s per share
All machines: Everybody gets ~2.6GH/s per share.

Then, if we keep buying more Jupiters, people get their shares as their machines come in, and everybody's hashrate goes up.

[COINPRADER]

About mining company. Honestly I don't think .100 mh/s will matter much unless you have like 20+ shares BUT

We can probably use this formula:

Saturn Share = 2.56 Gh/s / Total Speed

Jupiter Share = 2.80 Gh/s / Total Speed

Profit for Saturn Shareholders:

(BTC Mined bi-weekly)*(Saturn Share)

Profit for Jupiter Shareholders:

(BTC Mined bi-weekly)*(Jupiter Share)

So let's say the total speed is 3000 Gh/s.

I have 10 shares of Saturn and my friend has 10 shares of Jupiter.

The total BTC mined bi-weekly is 400 BTC.

So:

My cut:
400 * ( 25.6 / 3000) = 3.413 BTC payout.

Friend's cut:

400 * (28.0 / 3000) = 3.733 BTC payout.

Does this make sense?

Also let's say machine 1 and 2 are down for due to fail power supplies or something, those people who are shareholders for those machines will NOT be calculated with the rest of the share holders so it's fair. So IF the machines are down for 2 weeks and it's time to cash out the total speed would become 2600 Gh/s and only the current running machines will be paid.

What do you guys think?

BTW Happy July 4th tomorrow!

That's... not a mining company at all.

Basically, my problem is I don't see why people who bought in later should be able to get more hashes for less money. Even in your example, the people on the Jupiters earn an extra ~$20 per week, without paying any more. And having people totally left in the cold if their machines stop working at absolutely no fault of their own... that's just bad.

Incorporate it as a proper mining company, with each share being equal. It's easier to account for, and fairer for everybody.

The point is not who bought in when. The point is who bought a share for what machine (Jupiter or Saturn). If we gonna make all shares equal would that also mean that people who bought shares later would get BTC right away (as the first Saturn starts mining) and the promised/calculated hash rate is not achieved until all machines are mining? Also equal shares are not mentioned in the survey, so we/ragingazn628 have/has no wide spread opinion about this.

Note that I'm neither pro nor contra for equal shares since the current conditions are somewhat unclear to me.

Read what siliclone wrote a few posts above. Only people who's machine is active get the hashes. Below is an explanation of what should happen. I explained it as if we finish up buying the 11th Saturn and the one Jupiter, and then close down the buy, just for the sake of simplicity.

Saturn 1 arrives: OP and his buddies get ~2.55GH/s for each share
Saturn 2: OP, his buddies, and the guys on Saturn 2 get ~2.55GH/s for each share.
[etc., etc.]
Saturn 10: Everyone on Saturns 1-10 get ~2.55GH/s for each share (this assuming that we get the first 10 Saturns, then the Jupiter, then the 11th Saturn)
Juptier: Everyone on Saturns 1-10, plus Jupiter 1, get ~2.61GH/s per share
All machines: Everybody gets ~2.6GH/s per share.

Then, if we keep buying more Jupiters, people get their shares as their machines come in, and everybody's hashrate goes up.

+1 this!

[czspeedycz]

Jupiter 400GH/s Shares:

Code:

1st KnC Jupiter:
reactor - 2.2 BTC - 4 Shares
COINPRADER - .5 BTC - 1 Share
helloge 1.5 BTC - 3 Shares
ezisdog - 1.5 BTC - 3 Shares
danieldaniel - .55 BTC - 1 Share
George900 - .55 BTC - 1 Share
riclas - 10.45 - 19 Shares
Colgate - $600 - 12 Shares
Paranoia - 1.1 BTC - 2 Shares
gtdevo - 6.6 BTC - 11 Shares
sealight - 3 BTC - 5 Shares
Faerbit - .6 BTC - 1 Share
lajz99 - $100 PP - 2 Shares
physalis -2.5 BTC - 5 Shares
czspeedycz - 3 BTC - 5 Shares

Total:
 
70 / 143 Shares
[/quote]

There is some miscalculation here. The sum is 75 shares with me. Also I am on this list, but the one on the first page is without me

[m_yaw]

@ragingazn628:
Looks like my last transaction is not yet included in Saturn 11.

Message:

0.6 for 1 share of Saturn 11.
m_yaw

https://blockchain.info/de/tx/965f9eaf29ed20833936f8d77b25cec90ab833e3b1d425c091b118243ab265b6

Sig:

GzIxD+LvnaflLLxCb/ciRSnBFf5NXIcl+/x4GsEMa0hB/+1mlLl9pGA3XOKXKsDmlKEnOvVgiH4pOqO6v48AEZ4=

[peterlex]

Whats the order info for the already paid Saturn's?

Does anyone have information if KNC assembly is delayed?

[floatyfish]

I too am missing from the Jupiter list:

1 share of Jupiter bought for .55 BTC

TXID: https://blockchain.info/tx/c05b9be5dec1230bfb670dc41493596fbd449067f4116307d99d5fe3f08726a8

Perhaps what we should do, if we're all serious about turning this into a mining company, is to maybe freeze the purchasing of machines until we have the dividend distribution worked out?

[ImThat1Guy]

I too am missing from the Jupiter list:

1 share of Jupiter bought for .55 BTC

TXID: https://blockchain.info/tx/c05b9be5dec1230bfb670dc41493596fbd449067f4116307d99d5fe3f08726a8

Perhaps what we should do, if we're all serious about turning this into a mining company, is to maybe freeze the purchasing of machines until we have the dividend distribution worked out?

I second this.