[ANN] US/North American Bitfury sales NEW STOCK ***NOW SHIPPING***

[mo_mo]

Still waiting on a refund..

Me too - been 10 days now - After multiple email megabigpower.com keeps telling me that my refund is coming - they say Dave wants to do all refunds at once... I'm getting concerned now.  

Has any one been given a figure on the refund? 10+ days since the initial email from Dave.

8 days ago I got this email from megabigpower.com

"Dave is working on this and hopes to make the refund soon.  I think he has a couple of these to do and wants to do them all at one time.  I can't give you an exact date, but I would expect to see it within the next several days."

I have asked for updates and they keep telling me it is coming.

They have not responded to my last email though... Like I said getting worried.

or get strung along until after product is shipping...

Have anyone received their August "delay/mining money".  I asked for a store credit but it was not applied yet.

I am still waiting too,  Dave said it's coming but still no words yet...

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[Biomech]

Again ROI in fiat, not btc.  Assuming prices stay around $140/btc and that one can maintain each card at an average of 34Ghash/sec per card for months at a time 24/7/30.

I'm sorry, but ROI in FIAT has no economic sense.

If you need that your BTCs increase in value to get a return you're better off buying and holding them.

If you spent 600 USD (which then were 10 BTCs - it is just an example!) and then you get back, one year from now, 8 BTCs that have a value of 80K USD (just to give an extreme revaluation example) you've simply lost 20K USD!

spiccioli

Oh, Horseshit. Exchange rates are the HEART of currency trading, and this has been true pretty much since the dawn of time.

What are you talking about? spiccioli's example makes 100% sense.  If you bought 10BTC (for $600) instead of hardware and hold it you would have 100K in his example.  So by buying hardware you've lost 20K.

You don't buy mining hardware to make a capital gain on bitcoin to fiat exchange increase.  You buy mining hardware to mine bitcoins.  Exchange rate to fiat should not be included in your ROI calculation.

I invest in things based on as many factors as I can put in, for the express purpose of making a profit. That's like saying that a stock dividend in Euros is invalid because it's not in dollars. Money is what again?

A medium of exchange.

His math was fine. It was his axiom I was questioning.

[Syke]

I invest in things based on as many factors as I can put in, for the express purpose of making a profit. That's like saying that a stock dividend in Euros is invalid because it's not in dollars. Money is what again?

A medium of exchange.

His math was fine. It was his axiom I was questioning.

Bitcoin mining hardware creates bitcoins. Bitcoins-in vs. bitcoins-out is the most logical way to evaluate an investment in mining hardware.

[Trongersoll]

With the KNC equipment producing such high numbers, why would anyone buy any more bitfury at the current prices?

[shade88]

Better watt/GHz ? I'm on the fence for refund if Oct delivery enter third week of Oct or more.

With the KNC equipment producing such high numbers, why would anyone buy any more bitfury at the current prices?

[Trongersoll]

With the KNC equipment producing such high numbers, why would anyone buy any more bitfury at the current prices?

They will have to come down in prices.  Most November (or October) orders will go to KNC.  November deliveries would have to be below 4K for full kits.

Now, nothing will stop KNC to just open the gates and produce in numbers.

Thanks to KNC, the norm is now $10 per Gh/s. Bitfury is about $20. I'm sure KNC has room to lower their price as well.

[arorts]

you can make the sd card at a windows system, but to change the ip settings you need to either use a monitor/KB with the bitfury, or use linux to change the network interfaces file.

The chainminer in the image works, but not optimally. once the sd is in the rpi with the right ip settings, do this:

ChainMiner for M Board Version 2.X boards
DO not use this guide for Version 1x m-boards.
It will fry your chips.  This is only meant for Version 2 of the M-board.
I apologize for grammar as I took 2 sleeping pills and I can barely feel my fingers.

1.login as pi or root

2.  type "nano /run/shm/.stat.log"   if you wish to see the performance of all the chips on your board before upgrading chain miner.
(optional step)
3.(backup your chainminer version)  (this creates a copy of the folder)
a. sudo cp -a /opt/bitfury /usr/bitfury.backup
b. cd /opt/bitfury/
c. pwd  (make sure you are in /opt/bitfury)
d. ls -al (or type dir)
e. rm -rf chainminer  (this removes everything in the chainminer folder)
4.  make sure you are in the /opt/bitfury directory and not in /opt/bitfury/chainminer (it should be deleted anyway
5.  type "git clone https://github.com/bfsb/chainminer.git"
6.  it should now start getting the chainminer git.
7.  now type "cd chainminer"  you should now be in the chainminer directory
8.  type "make"
9.  Its going to take 5-10 minutes to create the chainminer...maybe longer.
 I got some warning but everything was fine after it all finished.
 it will go back to a  bash prompt when done.
9a.  Just wait...this is the longest part of doing this change..
10.  sudo reboot

It is much better version, and will cut your error rates massively. I went from 10% errors to 3%, and still have some tuning to do that should bring it under 2%

What about Chainminer updates to M-board v1.0? Any words out on that?

[buzzdave]

Hi guys - all pending BTC refunds should be done now - Kat usually does CC refunds immediately.  Except for a few wire transfers that I will arrange tomorrow, thats it.  If you requested a CC refund and haven't gotten word back, please check with Kat at accounts@megabigpower.com.

Some trolls made a forum-factoid about us favoring 200TH over shipping to customers: not true - I am waiting for product.

I don't make shipping promises until I know product is on the way and I have a sense of when we will have it tested before shipping.  At this time, I can guess mid-October.  I'll have something more specific as soon as I can.

Of course we are watching the KnC situation.  If there's anything to announce there, I'll surely do so.

[tacotime]

Of course we are watching the KnC situation.  If there's anything to announce there, I'll surely do so.

Sweet!  If KnC starts shipping like crazy, I'll gladly buy another Bitfury device if you guys drop the prices to match their product.

[Threader]

Hi guys - all pending BTC refunds should be done now - Kat usually does CC refunds immediately.  Except for a few wire transfers that I will arrange tomorrow, thats it.  If you requested a CC refund and haven't gotten word back, please check with Kat at accounts@megabigpower.com.

Some trolls made a forum-factoid about us favoring 200TH over shipping to customers: not true - I am waiting for product.

I don't make shipping promises until I know product is on the way and I have a sense of when we will have it tested before shipping.  At this time, I can guess mid-October.  I'll have something more specific as soon as I can.

Of course we are watching the KnC situation.  If there's anything to announce there, I'll surely do so.

I not understanding the CC refund part? I'm still waiting to pay you guys with CC for October order 8##.

My e-mails and forums posts go answered.

[Trongersoll]

Hi guys - all pending BTC refunds should be done now - Kat usually does CC refunds immediately.  Except for a few wire transfers that I will arrange tomorrow, thats it.  If you requested a CC refund and haven't gotten word back, please check with Kat at accounts@megabigpower.com.

Some trolls made a forum-factoid about us favoring 200TH over shipping to customers: not true - I am waiting for product.

I don't make shipping promises until I know product is on the way and I have a sense of when we will have it tested before shipping.  At this time, I can guess mid-October.  I'll have something more specific as soon as I can.

Of course we are watching the KnC situation.  If there's anything to announce there, I'll surely do so.

I not understanding the CC refund part? I'm still waiting to pay you guys with CC for October order 8##.

My e-mails and forums posts go answered.

I'm waiting to pay too. The refunds they are talking about were from before their CC processor dropped them. They are still trying to find a new option.

[goxed]

you can make the sd card at a windows system, but to change the ip settings you need to either use a monitor/KB with the bitfury, or use linux to change the network interfaces file.

The chainminer in the image works, but not optimally. once the sd is in the rpi with the right ip settings, do this:

ChainMiner for M Board Version 2.X boards
DO not use this guide for Version 1x m-boards.
It will fry your chips.  This is only meant for Version 2 of the M-board.
I apologize for grammar as I took 2 sleeping pills and I can barely feel my fingers.

1.login as pi or root

2.  type "nano /run/shm/.stat.log"   if you wish to see the performance of all the chips on your board before upgrading chain miner.
(optional step)
3.(backup your chainminer version)  (this creates a copy of the folder)
a. sudo cp -a /opt/bitfury /usr/bitfury.backup
b. cd /opt/bitfury/
c. pwd  (make sure you are in /opt/bitfury)
d. ls -al (or type dir)
e. rm -rf chainminer  (this removes everything in the chainminer folder)
4.  make sure you are in the /opt/bitfury directory and not in /opt/bitfury/chainminer (it should be deleted anyway
5.  type "git clone https://github.com/bfsb/chainminer.git"
6.  it should now start getting the chainminer git.
7.  now type "cd chainminer"  you should now be in the chainminer directory
8.  type "make"
9.  Its going to take 5-10 minutes to create the chainminer...maybe longer.
 I got some warning but everything was fine after it all finished.
 it will go back to a  bash prompt when done.
9a.  Just wait...this is the longest part of doing this change..
10.  sudo reboot

It is much better version, and will cut your error rates massively. I went from 10% errors to 3%, and still have some tuning to do that should bring it under 2%

What about Chainminer updates to M-board v1.0? Any words out on that?

Guys FWIW, I tried the new chainminer with v1.0 board. It did not improve my hashing peed and it did not fry my boards. For the record I have only 3 H boards. But somehow my  hashrate was spread across all over the 16 boards in the webpage instead of the first 3 boards..

[greaterninja]

Chainminer only affected my bad hashing h-board with 2 bad chips.   also 1 chip reported dead.  moving the h-board to another slot on the m-board revived all chips.

[Valle]

Hello all. I still haven't received payment for delayed kit. Why?

We ran short of M-boards due to the factory shortage of parts I mentioned.  I had hoped they would pick up the slack in production, but the break in production was felt last week when the shipment finally arrived from AK customs with no M-boards.  According to tracking, we only expect 12 tomorrow.  Every starter kit we send out takes 16 slots from the mine.  We have 54 starters left to ship.

A cost analysis shows that we would lose over 20TH if we ship out of the mine - taking over 800 cards out of the picture, which does not work well from a financial perspective.

The solution is to dedicate four rigs to a separate mining account and then send each customer their share of the coin once we ship.  Of course the customer will not pay a hosting fee or their share of power.  I have already repointed the hashpower to this dedicated account: https://www.btcguild.com/api.php?api_key=23fcc6a0f8292fe394b1706da8c0d304.  

As soon as we ship these units, we will distribute the coin accordingly.  Thanks for your patience on this - please look for an email requesting your payment address before you send it to us.

Best,
Dave

So your using the M-Boards that were allocated to our orders to maintain your mine (I am an share holder) and you have allocated 4 rigs at BTC Guild at the PPS rate (as per the API) with a 7.5% fee((1 / Network Difficulty * 25) - Pool Fee (7.5%) https://www.btcguild.com//index.php?page=support&section=howamipaid  one of the highest pool fees out there).

Seems to me that your failing to walk your talk to ship out August orders before populating your mine. Let us not forget the rigs going to LabRatMining (which I am a shareholder also) which were purchased after most August orders were placed.

A cost analysis shows that we would lose over 20TH if we ship out of the mine - taking over 800 cards out of the picture, which does not work well from a financial perspective.

This could be considered a grave financial impropriety.

Please enlighten me as to how that is adventurous to us, seems like we are funding the operation of your mine with our equipment and getting paid way less than our own individual strategies. What advantage is that to us, are you sending extra h boards to compensate? Because the BTC payment based on your decisions seems way unfair and you are profiting way more by holding our equipment while the production errors are catching up. Even now, we will not be able to achieve any ROI http://mining.thegenesisblock.com/a/9373700baf

You apparently have the equipment as per your analysis. I know I paid the full overnight shipping fee for an August starter kit. If your taking 800 cards out of the picture by shipping out our paid for equipment, we are getting Avaloned and your decision to do this without asking those of us waiting for orders is a poor choice.

You were doing so good, what happened to you.

wow, you're right. The pool is PPS with 7.5% fees, which is absolutely insane. furthermore, the current hashrate looks to be around 18Ghash per starter kit (if there are 54 as claimed). I don't mind my order being hosted until more m-borads show up, but i feel like the choice of pool and bare minimum of hardware allocated to it (i saw it get as high as 27Ghash and less than 18Ghash, which indicates it is at a loss compared with the starter kits' extra EOL card that ensures 25-35Ghash for those already up and running at home)

People who are mining with starter kits at home are producing almost 150% the bitcoins that this hosting does because of the >=25Ghash speeds and low fee pools available (seriously, 7.5%?)

I respect everything you've done dave, but this is a pretty blatant mistake. Punin shipped every single august order within about 3 days using extra h-boards and V2 M-boards. Hopefully we can get an update soon

Hi guys.  I am working with Dave in some capacities.  We do not want customers to feel slighted by the decision not to ship M-boards we had on hand.  In this case, we were forced to consider the small impact of shipping M-boards to customers who we can compensate versus the very large impact on the other customer of MegaBigPower(100TH/s mine) who we could not compensate for the loss.  I discussed these issues with him, and he has cleared the following:

We will pay out based on the theoretical maximum hash rate that the boards would have produced at 25 GH/s, starting from the time we had the M-boards ready to ship, but decided not to ship them.  We will calculate this based on the following formula:

( Number of 1-difficulty shares produced over the duration * per-block output ) divided by difficulty at the time they were produced.

By my calculation, 25 GH/s should produce a theoretical 502,800 1-diff shares per day or 5.8194 1-diff shares per second.  We will count the per-block output as 25.3125 BTC, where 0.3125 BTC is a good high estimate of the fees included on blocks today.  We will not charge a fee or power cost on this.

This is a short-term solution while we have a shortage of M-boards.  As soon as the M-board shortage is rectified, which should be in a few weeks at the latest, we will ship the remaining orders to customers.

We hope that this resolves the issue in your minds.  We are focused on providing the best customer service we can, and that includes making smart decisions for the 100TH mine customer, who are also severely affected by these delays.

In addition, Dave informed me that only 36 orders have not shipped, not the 54 he mentioned before.  As Dave said, the team is working 14 hour days nearly 7 days a week to get these issues resolved.  Even last weekend when the team went home for a weekend break, someone was working both Saturday and Sunday.  We also have more people coming on board soon to continue making rapid progress on all of the difficulties that arise from this type of work.

[ethought]

I just got my refund however it was not quite the amount I was hoping for... 

I paid BTC 13.8932

I just got refunded BTC 10.198

Feeling scammed...

[shade88]

What if BTC to USD rate dropped, will you feel guilty taking more BTC than you paid?

I just got my refund however it was not quite the amount I was hoping for... 

I paid BTC 13.8932

I just got refunded BTC 10.198

Feeling scammed...

[ethought]

What if BTC to USD rate dropped, will you feel guilty taking more BTC than you paid?

I just got my refund however it was not quite the amount I was hoping for... 

I paid BTC 13.8932

I just got refunded BTC 10.198

Feeling scammed...

I would expect to receive what I paid and I paid in BTC. I don't really care about the USD to BTC rate. I paid x amount of BTC I want x amount returned - is that unreasonable?

[frankenmint]

What if BTC to USD rate dropped, will you feel guilty taking more BTC than you paid?

I just got my refund however it was not quite the amount I was hoping for... 

I paid BTC 13.8932

I just got refunded BTC 10.198

Feeling scammed...

I would expect to receive what I paid and I paid in BTC. I don't really care about the USD to BTC rate. I paid x amount of BTC I want x amount returned - is that unreasonable?

No.....they are in the right.  Unless you paid a fixed cost in btc that had been declared in bitcoin you're stuck to the base currency used ie your fiat.  Its an exchange loss and is standard practice.  You would think it was overpriced if you paid a fixed amt in bitcoin and the price of bitcoin goes up a lot.

[xstr8guy]

What if BTC to USD rate dropped, will you feel guilty taking more BTC than you paid?

I just got my refund however it was not quite the amount I was hoping for... 

I paid BTC 13.8932

I just got refunded BTC 10.198

Feeling scammed...

I would expect to receive what I paid and I paid in BTC. I don't really care about the USD to BTC rate. I paid x amount of BTC I want x amount returned - is that unreasonable?

MegaBigPower made it absolutely clear at the time you ordered that you were paying in dollars.  BTC was converted to dollars at the moment you ordered.  And if you were to refund, dollars would then be converted back to BTC at that time.

If you feel ripped off it's no one's fault but your own.

[af_newbie]

I just got my refund however it was not quite the amount I was hoping for...  

I paid BTC 13.8932

I just got refunded BTC 10.198

Feeling scammed...

If you want to protect yourself against this fiat/btc rate fluctuations, you should buy the corresponding amount of bitcoins when you purchase with bitcoins (in fiat) and sell them when you get a refund.  You might still lose a bit but not as much.