1.55 BTC = 7.1GH/s KnCMiner Jupiter. InfiniteHash.com BETA - Miners HERE!

[John (John K.)]

I got the ID's, and contract should be coming in 12 hours. I'm typing this at bed as I'm down with a high fever.

[Adeel06]

Escrow will be set up as soon as John K is feeling better. Let's get the ball rolling fellahs

[Adeel06]

System 1: Private local buyer
System 2: 54/54 shares mupartee Payment Confirmed.
System 3: 54/54 shares mupartee
System 4: 24/54 shares
3 shares - xemu Payment confirmed.
2 shares - hylian
5 shares - budaslap
4 shares - gh12as
10 shares - I.bitcoin

First machine order placed

[Adeel06]

The price is subject to change and is based on the exchange rate when each machine is purchased. 6995usd/54btc = price in btc. Just wanted to make this clear. We still pay for shipping.

[John (John K.)]

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

The escrow address for Adeel06's KnCMiner Jupiter group buy is:

17CYWbhoYbGq93x1bJPhk8m4NyMnqJaLAk

Please state and agree to the conditions (if item is received damaged, item lost with tracking, customs fee etc) beforehand.

If possible, GPG sign your agreement to prevent any discrepancies later on and please ship with tracking to prevent problems during delivery.
GPG signing is not a requirement, and any verbal exchange in the form of private messages or posts on bitcointalk.org, or email is effective as a statement of condition.

Do note that I am only responsible for the funds up to the point it is sent to KnCMiner.
Any losses incurred by KnCMiner's or Adeel06's failure to ship/reship will not be borne by me, but I will release the following data to aid in litigation actions.

In addition to that, I confirm the receipt of:

1) Photo of Adeel06's School ID
2) Photo of Adeel06's Driving Licence

The fine print:
This Contract is solely generated for the purpose of facilitating the transaction between the seller and the buyer, which refers to the pseudonyms used on bitcointalk.org.
The escrow holder, John, assumes and gives no liability or guarantees on the satisfaction of all parties involved, although he agrees to mediate and facilitate the deal to the fullest extent he is capable of.  On the event that any problems arises, he will release the escrow to whichever party that presents him with the most convincing proof and/or after an open discussion with others or theymos. 
The verbal acceptance by both parties (or the failure to reject) and the sending of Bitcoins to the escrow address above constitutes the acceptance of the terms and conditions stated, and the activation of this Contract.

Please understand that I am assuming the risk of holding the escrowed Bitcoins, and I am using my own time to facilitate this transaction.   
I am imposing a fixed and nonrefundable fee of 2% for this transaction, to be deducted when the funds are moved, regardless of the completion status of the group buy.

Thank you.

John (the escrow holder)
24 June 2013
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v1.4.11 (MingW32)
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=jP2p
-----END PGP SIGNATURE-----

[jamesc760]

I am pledging 1 share at this time. Thank you!

[TheFuneral]

...
Shareholder Benefits:
...

All electricity costs will be paid for by Infinite Hash.
All ISP (internet) fees will be paid for by Infinite Hash.
All cooling costs will be paid for by Infinite Hash.
All labor costs will be paid for by Infinite Hash.  
All security costs will be paid for by Infinite Hash.
All shipping fees will be paid for by Infinite Hash.
All shipping insurance will be paid for by Infinite Hash.
All customs duties will be paid for by Infinite Hash.


In case of hardware failure:

Both myself, my younger brother and my father are extremely computer literate and engineering-inclined. If we are unable to solve the problem that the hardware is facing, the machine will be sent back to KnC for repair. Repair costs do not however come along with labor costs. If this is required, payment of 54/70th of that machine will come out of that machine’s following payable cycle. Labor costs include everything that we are able to do on our end and everything that we will to do optimally run these machines.

I found a contradiction.

You stated 'All labor costs will be paid for by Infinite Hash.', but then go on to say that I(the shareholder) will pay if you can't solve the problem?

What is your final position on this incase the issue were to arise a few months down the road.

What happens if you end up buying ONLY 3 machines? Does that make the whole operation a failure and you start paying less and less attention to it? Is there a break-even point on machines we should be aware about to keep your interest. It's human nature to be passionate and intrigued initially, but 3 months down the road is a long time from now ( in the computer world ).

Where can I find more information about KNC claiming they will hit there September deadline?

[ninjaboon]

I got the ID's, and contract should be coming in 12 hours. I'm typing this at bed as I'm down with a high fever.

@John. Get well soon. If you need a backup to handle all the escrows, drop me a PM or email me. cheers
 

[Adeel06]

...
Shareholder Benefits:
...

All electricity costs will be paid for by Infinite Hash.
All ISP (internet) fees will be paid for by Infinite Hash.
All cooling costs will be paid for by Infinite Hash.
All labor costs will be paid for by Infinite Hash.  
All security costs will be paid for by Infinite Hash.
All shipping fees will be paid for by Infinite Hash.
All shipping insurance will be paid for by Infinite Hash.
All customs duties will be paid for by Infinite Hash.


In case of hardware failure:

Both myself, my younger brother and my father are extremely computer literate and engineering-inclined. If we are unable to solve the problem that the hardware is facing, the machine will be sent back to KnC for repair. Repair costs do not however come along with labor costs. If this is required, payment of 54/70th of that machine will come out of that machine’s following payable cycle. Labor costs include everything that we are able to do on our end and everything that we will to do optimally run these machines.

I found a contradiction.

You stated 'All labor costs will be paid for by Infinite Hash.', but then go on to say that I(the shareholder) will pay if you can't solve the problem?

What is your final position on this incase the issue were to arise a few months down the road.

What happens if you end up buying ONLY 3 machines? Does that make the whole operation a failure and you start paying less and less attention to it? Is there a break-even point on machines we should be aware about to keep your interest. It's human nature to be passionate and intrigued initially, but 3 months down the road is a long time from now ( in the computer world ).

Where can I find more information about KNC claiming they will hit there September deadline?

I can see how this may be viewed as a contradiction but what I meant is that all labor that can be performed by us is covered. If we only reach 3 machines, this project will not be overlooked as that is what my promise is in selling these shares. Thank you,
Adeel

[TheFuneral]

What's in it for you? Where do you get money or motivation out of doing all of this?

[Adeel06]

I am pledging 1 share at this time. Thank you!

We are accepting both escrow and regular payment now.

[Adeel06]

What's in it for you? Where do you get money or motivation out of doing all of this?

We get a portion of each computer. After paying for shipping and customs the amount is smaller than I intended but if these machines do perform as they should, it should work out for all parties involved.

[Adeel06]

Also TheFuneral, as far as a break even point goes, in the first month each machine according to today's difficulty would earn around $28,000 USD, which is a large amount and means that we would reach our break even point very fast. Since the difficulty will obviously rise by September/October, I am thinking that an estimate that takes into account all that could happen to negatively affect income from this project should place us at about a month after running the systems. If this actually is attained then the following 23 months are profit, something that would be great for all parties involved.

[TheFuneral]

Also TheFuneral, as far as a break even point goes, in the first month each machine according to today's difficulty would earn around $28,000 USD, which is a large amount and means that we would reach our break even point very fast. Since the difficulty will obviously rise by September/October, I am thinking that an estimate that takes into account all that could happen to negatively affect income from this project should place us at about a month after running the systems. If this actually is attained then the following 23 months are profit, something that would be great for all parties involved.

This brings up another question. When will the project end? You just said 23 months. Is that a fixed number or just a number you used for approximation? I assume we'd run this till all parties are losing money in which case we'd end it? What happens to the old machines? Would they be sent to us?

[Adeel06]

If it is no longer profitable we will discuss what to do. I can't send a machine to one person if 20 people paid for it, so we might sell them and divide the money equally per shareholder per machine.

[Adeel06]

I meant 23 months + that month, equaling 24 months or 2 years. If the machines are still profitable after 2 years, i will continue running them until they are not.
Adeel

[TheFuneral]

Thanks for your prompt responses, I appreciate it.

What about the current demand? If I send the money today does that mean you then goto the site and buy it. Won't that put us on some queue and put us behind everyone else who already bought them? Did KnC already get enough supplies to support their current demand or would there be another batch? This seems common with ASIC devices.

[Adeel06]

I go to the site and buy a machine once we reach the $6999 price point for a jupiter from KnC. They told me that once they start they will be able to meet their demands. No problem on the fast response time.

[nobunaga]

i want to buy 3 shares and ready to send btc. what sentences should i put for the sign message? can i just say i own that address and then just mention my bitcointalk username? i am really new to this. by the way, all the funds are coming from one address in blockchain wallet. please help

[mupartee]

nobunga, use this link https://bitcointalk.org/index.php?topic=179769.msg1922342#msg1922342 for understanding how to sign a message. It doesn't need to say anything special, just have your sending address, receiving address, and name so that he can identify who is sending the payment