[BitFunder] - ADDICTION - KNCMiner - Now hashing at 14+TH!

[maqifrnswa]

Still accepting new people

Yes, you can still buy in to this group buy. You can buy from the following forum members, please see:
https://bitcointalk.org/index.php?topic=328135.0

ADDICTION Order Book 41.8 MH/s/share

BID:
10000@0.00011 - maqifrnswa
10000@0.00015- Bitcoinmiami

ASK:
1445@0.00035-Mudge
639@0.00085 - kirk46
100@0.0017 - msm595
2062@0.00235 - Kushedout
3409@0.0029 - btceic - https://bitcointalk.org/index.php?topic=244042.msg3632557#msg3632557
138@0.0025 - Ditto - Auction
2500@0.002904 -justanickname - Auction
4500@0.00299- utens - https://bitcointalk.org/index.php?topic=335598.0

[tyrion70]

Hey All,

Was just preparing dividends but as it looks now we need the next Eligius payout to meet minimum of 0.0000546 btc to transfer (to the smallest users). The next payout from eligius should be in a few hours (4 blocks) but will still take approximately 14-18 hours for enough confirmations(100 needed) to use in a transaction.

In short, dividends will be delayed a little (monday morning) to allow for enough confirmations. As it stands, it seems we need to start thinking of selling the miners in a few weeks because with the btc price as it is we're getting close to the point where mining is not profitable anymore.

Cheers,

[btceic]

Hey All,

Was just preparing dividends but as it looks now we need the next Eligius payout to meet minimum of 0.0000546 btc to transfer (to the smallest users). The next payout from eligius should be in a few hours (4 blocks) but will still take approximately 14-18 hours for enough confirmations(100 needed) to use in a transaction.

In short, dividends will be delayed a little (monday morning) to allow for enough confirmations. As it stands, it seems we need to start thinking of selling the miners in a few weeks because with the btc price as it is we're getting close to the point where mining is not profitable anymore.

Cheers,

Agreed and thanks for the update, for a rough calculation what do you think we can get for all of them?

[equipoise]

What would be a good price for a KNC miner? For example in Bulgaria the electricity price is currently the cheapest in EU (about 1.7-3 times compared to other countries) and those would mine some more btc before they are switched off.

[leepsteer00]

Hey All,

Was just preparing dividends but as it looks now we need the next Eligius payout to meet minimum of 0.0000546 btc to transfer (to the smallest users). The next payout from eligius should be in a few hours (4 blocks) but will still take approximately 14-18 hours for enough confirmations(100 needed) to use in a transaction.

In short, dividends will be delayed a little (monday morning) to allow for enough confirmations. As it stands, it seems we need to start thinking of selling the miners in a few weeks because with the btc price as it is we're getting close to the point where mining is not profitable anymore.

Cheers,

Agree with that.

[TookDk]

Thanks for the update - agreed.

[Kokomoka]

What would be a good price for a KNC miner? For example in Bulgaria the electricity price is currently the cheapest in EU (about 1.7-3 times compared to other countries) and those would mine some more btc before they are switched off.

I live in a country with free electricity provided as a government benefit. Can someone let me know what sort of power consumption one of these units has, is it possible to run such a unit in your home?

[equipoise]

The KNC Jupiter power consumption should be around 1W per GH, so it should be around 540W per 540GH/s Jupiter miner. You could run up to 5-10 such machines at home, but you should check this for your country and your home power standards.

[tyrion70]

Power usage usually hovers around 600W each. I'm guessing the only people still buying Jupiters are people with free or very cheap access to electricity. Normal breakers in a house here are 25amps (50 on the main line) so at 230V you could technically run 9 machines, but I wouldn't advise anyone to do that because of the warmth and noise they give One or two is definately doable

I'm seeing new Antminers selling for little under 0.9 btc currently, and hashwise 3 antminers equal one Jupiter. If you look at our orderbook, buy orders say people are willing to buy a miner for ~2btc and sell for ~4.3 btc.

Ebay doesn't offer much help either, there is exactly one jupiter with a bid on it (currently 500$) the rest starts at around 3k and hasn't got any offers. This auction in FL, USA: http://tinyurl.com/m9bd9ws, for two miners starting at $2400 doesn't even have a starting bid yet.

Anyone holding (more than) 12400 shares is free to have a miners shipped to him (excluding shipping).

[btceic]

Power usage usually hovers around 600W each. I'm guessing the only people still buying Jupiters are people with free or very cheap access to electricity. Normal breakers in a house here are 25amps (50 on the main line) so at 230V you could technically run 9 machines, but I wouldn't advise anyone to do that because of the warmth and noise they give One or two is definately doable

I'm seeing new Antminers selling for little under 0.9 btc currently, and hashwise 3 antminers equal one Jupiter. If you look at our orderbook, buy orders say people are willing to buy a miner for ~2btc and sell for ~4.3 btc.

Ebay doesn't offer much help either, there is exactly one jupiter with a bid on it (currently 500$) the rest starts at around 3k and hasn't got any offers. This auction in FL, USA: http://tinyurl.com/m9bd9ws, for two miners starting at $2400 doesn't even have a starting bid yet.

Anyone holding (more than) 12400 shares is free to have a miners shipped to him (excluding shipping).

Tyrion, would you consider 1 or 2 "cores" for my shares?

Edit: I wonder if I can buy just a shell from KnC?

[tyrion70]

Tyrion, would you consider 1 or 2 "cores" for my shares?

How do u figure that? We could "chop" a machine in 4 boards, but there is only one main controller.. So I guess for ppl that already own a saturn/mercury we could offer the "upgrade" boards for 3100 shares?

If anyone is interested in this, please also send a PM so we can keep track of what ppl want.

Cheers,

[nucleon]

The profit ratio is getting close to expenses are >= 50% of revenue. And the BTC price seems to be dropping like a stone. This ratio is getting eaten alive from both ends.

It's getting real marginal, real quick.

Plus the network has a boat load of Neptunes coming which is going to push revenue down.

As I have no idea where you guys are I'm probably overseas, and I'm more than likely get hit with some import taxes bringing it into the country. I'm not that keen on spending more money than I have to. I don't think I'd even recoup the import taxes

I'm aok, to sell if you can and redistribute the sale proceeds. Even though we may still have a few weeks of profit - the time to find a buyer and ship is non-zero.



-- Craig

[tyrion70]

Allright guys, as promised a little later Had to wait for this tx to read 101 confirmations:
https://blockchain.info/tx/00078ef8003e86b1ec57a69842e4a64e54d7dea9dddfb4124f257cb3bf077172

The numbers:
Balance in wallet: 11.75743603
Still in wallet for non-confirmed shares: 1.47315877
Hosting costs: 4.12239018
Dividends: 6.16188708
Dividends per share: 0.00001840
Namecoin balance: 0.81818394 (287 sold just now for 1.53258 btc)

Only 677 shares left to confirm.

Latest sharelist can be found here:
http://pastebin.com/H4LJSHrv

Dividends have been sent in tx:
https://blockchain.info/tx/6dfbaddd40acd487d42e4e33d8de31c894307a25f0b109f3f121aa64854b4f9e

Cheers!

[eightcylinders]

Well I have a Mercury, that would be a nice but can anyone tell me how easy the upgrade would be?  I did some searches but did not come up with much except that the Mercury upgrade packs from KNC were sold out in 3 minutes lol.

Tyrion, would you consider 1 or 2 "cores" for my shares?

How do u figure that? We could "chop" a machine in 4 boards, but there is only one main controller.. So I guess for ppl that already own a saturn/mercury we could offer the "upgrade" boards for 3100 shares?

If anyone is interested in this, please also send a PM so we can keep track of what ppl want.

Cheers,

[vayvanne]

tyrion70
How much is stuck on bitfunder of your coins? Are you planning to start a legal actions against ukyo?

[joele]

Tyrion,
Any plans on offering new group buy for gridseed and hosted it?
Scrypt coins have more stable difficulty and much profitable to mine, we can hook to a multipool and pay in bitcoin. 

[tyrion70]

tyrion70
How much is stuck on bitfunder of your coins? Are you planning to start a legal actions against ukyo?

Not enough to start legal action on my own, not sure if I want to do that anyway really.. I'm seriously considering the coins lost.. If I ever get anything back thats good but I'm not counting on it anymore..

Tyrion,
Any plans on offering new group buy for gridseed and hosted it?
Scrypt coins have more stable difficulty and much profitable to mine, we can hook to a multipool and pay in bitcoin. 

Not sure really.. Honestly I'm thinking the only ones to profit mining machines are the people making them. For the rest of the world its just a gamble as we've seen with the Jupiters.. Especially with pre-orders. We don't really want to run a GB without investing in it ourselves, so thats the first thing we really need to decide. If we do, we'll let everyone know here

[tyrion70]

Well I have a Mercury, that would be a nice but can anyone tell me how easy the upgrade would be?  I did some searches but did not come up with much except that the Mercury upgrade packs from KNC were sold out in 3 minutes lol.

As far as I can see every card has a molex (power connector) and a logic connector that goes to the mainboard.. Not sure but I expect the case of a mercury to be identical to a jupiter, so I think all the screwholes should be there. 

Other than that it should be as simple as connecting the board and firing it up

[S4VV4S]

Tyrion how much would you and the group would be considering selling a miner for?

[TookDk]

Tyrion,
Any plans on offering new group buy for gridseed and hosted it?
Scrypt coins have more stable difficulty and much profitable to mine, we can hook to a multipool and pay in bitcoin. 

I cannot see how anybody can make a profit by mining with Gridseed unit (at the currently price for the hardware).
If KnC can deliver the Titan as scheduled it will outperform the gridseed insanely (in terms of MHash/$).
Gridseed is 350 KHash/s for aproximate 100$, Knc is 250 MHash/s for 10k$.

Titan can potentially make a profit, but there are many variables and uncertainties to consider.