[Closed] Bitfury miner group buy + hosting (with ESCROW)

[Stinky_Pete]

A nice fit in that case 

and a good bump in the hashing power.

[jlsminingcorp]

OK, so I've made a test payment (just a small amount of BTC to ensure that the system we have in place is working) for GB members with shares in the bitburner fury. Details are below. Please could you let me know if there are any problems receiving coins, as I'd like to make the full payments for this week tomorrow?



Transaction ID: 810d7688bd2513eda0a28508a449c891413092b7b70e42fdabc5f3722279bc7b

Note: the second payment (0.0005 BTC) to 11EmQ.... is the hosting charge.

[jlsminingcorp]

The micropayment yesterday seemed to work OK, so we've now sent this week's full payment to GB members with shares in component 7. This corresponds to all BTC mined (0.314947 BTC) before we added the BFSB starter kit (component 1). Please see below for the details. We'll make the payment for BTC mined since the starter kit was added later today. Apologies, the accounting for this will be a bit complicated until all components are here and mining! If anything is unclear let us know.

Transaction ID: 63874e8e43affb2220aa8d42738fea126121ab47335498ebda968d67c87dacc9

[jlsminingcorp]

Payouts for GB members with shares in components that are currently hashing (#7 and #1) has just been made. See below for details. Please note that some shares on eligius have not yet been paid and this payout only constitutes what we have actually received to date.

Transaction ID: 9dfef1fef4ee4a5dcc4c941db68ea431924a674955657b5731c023e190317f36

[jlsminingcorp]

A quick hardware update for you:

Bitburner fury: The hardware has been running fairly stable at around 48 GH/s for some days now. Over the first 2-3 days it crashed a couple of times with a particular "usb_write error on avalon_write" error that seems to be common with these boards (based on reports on the forum) and this could only be recovered by re-flashing the firmware. I noticed at this point that the firmware that was controlling the fan speed was keeping this rather low and switched to powering the fan directly from a 12V supply. This is a little louder, but has significantly reduced the board temp and things have been running stable since. Keep your fingers crossed that it stays this way! It really feels as though these boards are pushing the chips to their limits, so we're not going to tinker with this hardware now, just let it get on with things. On the cryptx thread there are reports of a couple of people getting their "hashrate protection" cashback. We've not had this yet, but when we do we will let you know before sending an appropriately sized refund back to those who contributed to this component.

BFSB starter kit and H-boards: So far the BFSB kit has been very reliable and we've had no problems with it. The "autotune" function of chainminer seems to be rather conservative in terms of the level of hardware errors that it will allow and was tuning our H-board to around 30-32 GH/s. We decided to do some manual tuning of each chip a couple of days ago and this pushed things to around 33-35 GH/s with very few hardware errors, which is great. I think pushing these cards any further would require some fairly effective heatsinks on the chips and the voltage regulator. Our second H-board is due to arrive tomorrow and we'll let you all know when it's here - although you'll see the hashrate spike on eligius ! As with the previous BFSB kit, we'll let autotune take care of the board for 12-24 hours and then do some manual tweaking of the chips on top of autotune's best efforts to get the most out of each card. We've had no shipping notification for the other kit yet, but I would imagine that it will probably ship out soon.

That's all for now.

[wrenchmonkey]

Forgive my confusion here, but I thought the deal was supposed to be that earlier investors would be getting paid before later investors. Meaning that your shares get activated when later orders go online, but not when earlier orders go online, until your hardware is online too.

Seems a little messed up that group 7s hardware shows up earlier, and all the earlier groups are still waiting. Wasn't that the system that was put in place, in order to encourage earlier investing?  

Not complaining, or trying to be a pain in the ass, just trying to figure out what the deal is.

[jlsminingcorp]

Forgive my confusion here, but I thought the deal was supposed to be that earlier investors would be getting paid before later investors. Meaning that your shares get activated when later orders go online, but not when earlier orders go online, until your hardware is online too.

Seems a little messed up that group 7s hardware shows up earlier, and all the earlier groups are still waiting. Wasn't that the system that was put in place, in order to encourage earlier investing?  

Not complaining, or trying to be a pain in the ass, just trying to figure out what the deal is.

Apologies for causing any confusion wrenchmonkey. There was some discussion on the thread about this before we opened up the bitfury burner component. In the end, we decided when we opened up the collection for component 7 (https://bitcointalk.org/index.php?topic=252534.msg3176617#msg3176617) that we should not change the terms and conditions in the OP.

All other terms and conditions set out in the OP will remain the same. In particular, please note that we will still distribute any mined BTC in the way stated in the OP: "BTC mined will be distributed to group members in proportion to the number of shares that they own and the number of coins mined by the miner (the miner is defined as all hardware components in this group buy that are actively mining) since the last payment.""Payments will only be made to group members who have shares in components that have been delivered. Payments will not be made to group members who have shares in components that have been ordered, but not delivered." This means that if the bitfury burner arrives before the starter kit then group members who have contributed to this component will begin hashing first, but other group members will benefit from better GH/s/share when the components that they have contributed towards come online. I think that everybody should benefit from this.

Basically we think that this benefits everybody. Early adopters do not loose anything. The components that they have shares in still arrive when they would have anyway and they begin mining at this point, as planned. However, because the GH/s/BTC worked out better for the bitfury burner, adding this to the group's miner improves the overall GH/s/share for those early adopters, so they get more hash power than expected. The whole group also benefits from having two independent bits of hardware in the miner, as if one goes down for any reason then the other should keep running. The group members contributing towards component 7 did so anticipating that they might start mining earlier, although because Cryptx had no track record they also took a risk with this (we could have still been waiting for the bitfury burner), but they also joined the group on the understanding that all components become part of a pool that all group members benefit from when their components are hashing (as described in the OP).

I particularly didn't want to change the terms and conditions set out in the OP, as this is something that everybody signed up to. Also, if we had changed things to institute a "queue" of shares, rather than doing this by component, it would have made things complicated and confusing; and would have made the bitfury burner look rather unappealing to new group members. In this case we may not have secured it for the group and everybody would have been worse off in terms of GH/s/share.

I hope that this makes things clearer. Let me know if not.

[jlsminingcorp]

Hi All, just a quick update. We started to get a slightly unreliable connection to eligius late this afternoon (DDoS?) and so have switched the miner to bitminter for the time being. The BFSB kit seems happy with this, but the bitfry burner is getting more rejects than it should, so this may not be the pool for us. We will monitor things and switch again if needed. Unfortunately monitoring things on bitminter is not as easy as eligius without logging into the account, so keep your eyes on the BTC address (1568Cr5PQFy3JVhQnvajQkbYyinM4AcCFH) for payments.

The second H-board (component 2) literally just arrived (I didn't realise that UPS delivered at 8 pm!), so we'll be installing that in a minute.

[jlsminingcorp]

H-card number 2 installed and hashing. We're getting ~ 30 GH/s at the moment, as the autotuning will be doing it's thing over the next few hours to pre-tune the card prior to a final bit of hand tuning. It looks like we might have a half-dead chip on this board, but I understand from other posts on the forum that this doesn't normally cause a big problem. The other chips just hash faster to make up for it - we'll see how it goes. I'll post some pictures/screen shots tomorrow.

~115 GH/s online and hashing
177 W at the wall (including RPis, router + miner)

[monkeynutts]

cool getting closer ! hboard 3 should be arriving in the next couple of days then ?


im right in saying my shares are in hboard 3 ?


cheers

[jlsminingcorp]

cool getting closer ! hboard 3 should be arriving in the next couple of days then ?


im right in saying my shares are in hboard 3 ?


cheers

We've just had confirmation from BFSB that our Sept 10th order (that's H-board #2 and #3) is completed. No tracking details yet though. Based on UPS' performance so far I'd anticipate that these boards will actually reach us early next week (as long as they are shipped today).

Yes, you'll start mining as soon as H-board #3 arrives !

[monkeynutts]

great news,


thanks for the updates.

[wrenchmonkey]

Forgive my confusion here, but I thought the deal was supposed to be that earlier investors would be getting paid before later investors. Meaning that your shares get activated when later orders go online, but not when earlier orders go online, until your hardware is online too.

Seems a little messed up that group 7s hardware shows up earlier, and all the earlier groups are still waiting. Wasn't that the system that was put in place, in order to encourage earlier investing?  

Not complaining, or trying to be a pain in the ass, just trying to figure out what the deal is.

Apologies for causing any confusion wrenchmonkey. There was some discussion on the thread about this before we opened up the bitfury burner component. In the end, we decided when we opened up the collection for component 7 (https://bitcointalk.org/index.php?topic=252534.msg3176617#msg3176617) that we should not change the terms and conditions in the OP.

All other terms and conditions set out in the OP will remain the same. In particular, please note that we will still distribute any mined BTC in the way stated in the OP: "BTC mined will be distributed to group members in proportion to the number of shares that they own and the number of coins mined by the miner (the miner is defined as all hardware components in this group buy that are actively mining) since the last payment.""Payments will only be made to group members who have shares in components that have been delivered. Payments will not be made to group members who have shares in components that have been ordered, but not delivered." This means that if the bitfury burner arrives before the starter kit then group members who have contributed to this component will begin hashing first, but other group members will benefit from better GH/s/share when the components that they have contributed towards come online. I think that everybody should benefit from this.

Basically we think that this benefits everybody. Early adopters do not loose anything. The components that they have shares in still arrive when they would have anyway and they begin mining at this point, as planned. However, because the GH/s/BTC worked out better for the bitfury burner, adding this to the group's miner improves the overall GH/s/share for those early adopters, so they get more hash power than expected. The whole group also benefits from having two independent bits of hardware in the miner, as if one goes down for any reason then the other should keep running. The group members contributing towards component 7 did so anticipating that they might start mining earlier, although because Cryptx had no track record they also took a risk with this (we could have still been waiting for the bitfury burner), but they also joined the group on the understanding that all components become part of a pool that all group members benefit from when their components are hashing (as described in the OP).

I particularly didn't want to change the terms and conditions set out in the OP, as this is something that everybody signed up to. Also, if we had changed things to institute a "queue" of shares, rather than doing this by component, it would have made things complicated and confusing; and would have made the bitfury burner look rather unappealing to new group members. In this case we may not have secured it for the group and everybody would have been worse off in terms of GH/s/share.

I hope that this makes things clearer. Let me know if not.

Yup, that clarifies. Thanks.

[jlsminingcorp]

Hi All, we now have a tracking number from UPS now for all of the final H-boards that we have on order. These are scheduled to arrive next Monday. Judging from the previous orders UPS seem to be giving reliable delivery estimates (so far none have been early and none late ) so all components should be hashing soon.

I've been doing some hand tuning of the second H-card and we're now averaging around 32GH/s from this card. It's definitely not as good as the first, which is typically running at 33-35 GH/s, but I think we can get it fairly close with a little more software tweaking.

Here's a pic of both boards (sorry about the poor quality on this one).

[jlsminingcorp]

Now collecting towards 3 drillbit boards from drillbit's batch 1 (~60 GH/s, late October early November delivery estimate). These have already been ordered and paid for. (Note: Orders from drillbit's batch 1 are currently sold out to new buyers.)

Now 11 / 25 shares remaining for this component

Just a reminder that we do have an open collection for some drillbit-based hardware for the group miner. This collection is only open until 20:00 BST on 29th October 2013.

[flyswatta]

so far none have been early

Lol - UPS is really good at that. What sucks is when an order goes across the country in 1 day, but sits in one spot for 3 days. Of course if you pay the extra, it can get there in one day.  They have it down to an science.

[jlsminingcorp]

so far none have been early

Lol - UPS is really good at that. What sucks is when an order goes across the country in 1 day, but sits in one spot for 3 days. Of course if you pay the extra, it can get there in one day.  They have it down to an science.

I almost wish they didn't give out tracking numbers. It's painful to watch these things sitting in Helsinki (or wherever) waiting until you've paid an appropriate time penalty for not upgrading to their express service. Oh well, such is life.

[jlsminingcorp]

Hi All. Cryptx have been true to their word and have refunded 100 Euro for the bitburner fury component, as this did not reach their anticipated 64 GH/s. We've now distributed this proportionally to group members who contributed towards the bitburner fury component and have reduced the number of shares issued for this component to take account of the lower price paid (using the current Euro:BTC rate at bitpay of 131.958 for calculations - 27/10/2013, 14:37 GMT).

[jlsminingcorp]

We've just made the payment for GB members with shares in components #7 and #1 for the BTC mined before the arrival of component #2. See below for details. Just about to make this week's payment for those with shares in #7, #1 and #2.

TxID: 5c2af325633a1c7f38651242c268b1e44cd7d25704fe0672af8dfc84c610e2f1

[jlsminingcorp]

This week's payment for those with shares in components #7, #1 and #2.

TxID: 55e7a29f2cf34c8eb697c7b578aeebd45a4f41db9b7142986e93920c9afc5e5a