EDIT 2013-06-30: We've asked John K to verify our identities. You can find his posts here: https://bitcointalk.org/index.php?topic=238336.msg2618021#msg2618021Following the successfull groupbuy in the pre-buy period, we decided to start another groupbuy for the second batch of KNC Jupiter miners that will be released. Unlike the first groupbuy there is no delivery date set yet for these miners so it has a higer risk.
Learning from our earlier groupbuy we made a few changes. First of the share price. On the first groupbuy shareprice was 0.50 BTC. We still saw a lot of people only buying one share and some having trouble getting the 0.50 BTC. So, we decided instead of putting 120 shares in a miner we'll split it into 240.
Last time we had bad luck with the BTC price. What we do this time is set the share price slightly higher. Any difference in the final price of the miner will be added to first payout (after first expenses are deducted but before issue to ADDICTION). Price is therefore set at 0.30 BTC per share.
Another difference is the ADDICTION asset on Bitfunder. We will be releasing this asset shortly for everyone who joined the first groupbuy. Because delivery of these miners is later than the first batch, we can't and won't issue new ADDICTION shares untill these miners are delivered and running. Once that happens though, these shares can be exchanged for assets on ADDICTION. This will be done - as described in the IPO details - by using the hashrate of the device. It is expected that the second batch will also run at 350GH which would mean for every .30BTC share you'd receive 50 ADDICTION shares, regardless of the actual price at that time. This ensures that ADDICTION share value does not dillute but still represents the same hashrate (currently predicted at
28.23MH 32.26MH per share). You can choose not to have your shares converted to Bitfunder. In that case payouts are still measured as if they were part of the ADDICTION network.
The last difference is that each miner is counted treated individually because we don't know for sure they will be delivered at the same time. The first miner sold will therefore be the first miner to payout, but only to the shareholders of that miner (or of ADDICTION once it's issued). Which rougly means you have an advantage if you buy early! The transaction time in the blockchain is binding on this. Buyers of the old groupbuy are allowed to reserve shares in which case they will be added as reserved to the list. In this case a reservation goes before blockchain. A reservation must be made on topic and within 24 hours of start post.
If you need to contact us we can be reached by email at p2poolnl @ googles email . com
Also check out the updates at
http://p2pool.nl/blog/Because we don't believe in selling something without having stake we bought the first two miners already. Blastbob will post screenshots as usual. The first one is bought by us for us, the second will be sold to the public. This way we can ensure everyone always gets his shares guaranteed. If we stop the groupbuy we will simply buy the remaining shares for that miner.
We expect that you have read up on KNCMiner and what its about.
https://bitcointalk.org/index.php?topic=214285.0https://bitcointalk.org/index.php?topic=170332.0You can also read up on the old groupbuy
https://bitcointalk.org/index.php?topic=227400.0For more details on the IPO look on Bitfunder:
https://bitfunder.com/asset/ADDICTIONShares
Each share is only 0.3BTC. Each miner is divided into 240 Shares.
Spec per miner (KNC Jupiter)
350GHs (possible 30% more with optimization )
1 Share gives you the right to 1/248th of the BTC proceeds from a KNC Jupiter Miner mining 24/7 for 24 months after deduction of costs. The remaining 8 shares will be owned by OP as payment for maintaining the miners.
Payment will be based on the proceeds from every individual miner until shares are issued to Bitfunder. Once the miner is added to the ADDICTION network each share is calculated over the total ADDICTION network
The miners will be hosted at KNC Sweden, a datacenter in the Netherlands or in Norway depending on pricing and service offered at KNC.
When mining is not profitable anymore, we will attempt to sell the miners or find another use for them. Any proceeds thereof will be distributed as dividend.
How to buy shares
You need to send 0.3 BTC per share and post the TX id in this thread or PM. Make sure you own the send address used. We will use the sending address for payouts. Change of this address is only possible with a signed message from that address.
IMPORTANT, if you want to convert to bitfunder, please inform us of your Bitfunder ID (if we don't have it already). If you don't want to convert to bitfunder, ensure you send BTC from an address which is owned by you. Using online wallets is not recommended. We ask this because we will use the from address for payouts. You can request an address change only with a signed message. If you are unable to send from a private address please contact us through PM BEFORE transfering your money. We'll give you a random numer of satoshi's to transfer along to prove it's you.
Miners will be divided into 240 shares. For each lot completely filled an actual payment to KNC will be done. There is no ending period for this groupbuy but we reserve the right to stop when there is not enough demand anymore.
In case of non-delivery
We believe KNC will keep its promises. In case KNC does not deliver we will do everything in our power to refund your (and our own) investments. We cannot guarantee this however. Buying these shares means you agree to not hold us responsible in case KNC does not deliver.
In case of hardware failure
We believe the gear should be able to run 24 months, but since there are no working devices yet we simply don’t know. In case of hardware failure we will have KNC repair or replace the machine. Any costs involved will be deducted from payment as costs.
Appropriate Payment Address
1WaNTKnCJzGACWZumFTvtKbD3PU25Ey4a
Dividends
Payouts will take place bi-weekly. Statements will be made available on
http://p2pool.nl/blog/Payment on shares will commence the miner attached to the shares is delivered.
Until shares are actually issued to bitfunder, it is possible to transfer ownership of your shares. We will however charge a 0.1BTC transfer fee (per transaction) for this. If you decide not to transfer the shares to bitfunder, this transaction feel will be kept in place.
Who are we
We are Tyrion70 and Blastbob. We’re from Norway and The Netherlands and decided to team up on a number of ventures (p2pool.nl being the most prominent). Since we both very much liked the KNC offering we wanted to offer this to a bigger public.
We've completed another KNC groupbuy were we bought a total of 12 KNC Jupiters.