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

[monkeynutts]

No worries man, you've done a fine job with this GB.
Thanks for the divs and update.

what he said this has been very well run from day 1. just wish id had the chance to invest more with you in the beginning


keep up the good work

[jlsminingcorp]

No worries man, you've done a fine job with this GB.
Thanks for the divs and update.

what he said this has been very well run from day 1. just wish id had the chance to invest more with you in the beginning


keep up the good work

Thanks guys, that's very much appreciated .

Things are quite a bit more stable after some card position swapping, so nothing to report for the last couple of weeks. The payout details are below as usual.

TxID: c96942a9cd1facb879b828ac3d08e2aa5e93370ec5c586cbd4e8dec53a4106f0

[jlsminingcorp]

Hi All, payment details are below as usual.

TxID: c5c870ad1940c600e2e2d08ad6c38b3404f750c96e5184ca7e376d22fb078def

[jlsminingcorp]

Hi All, well for the first time in about a year the miner is no longer covering its electricity bill . We'll turn it off now and keep an eye on the BTC price/difficulty over the next week or two to see BTC rebounds making it worth turning back on, but it may be that the group needs to decide on the next steps (i.e. sell the miner, hold the miner hoping for a surge in bitcoin price etc.) We'll post again when it's a little clearer where things stand with the current BTC price issues.

[jlsminingcorp]

Hi All, well it's been a while now since we turned the miner off and nothing particularly positive has happened to the BTC price or network difficulty. As such, the miner would still not be covering it's power costs and so it's not worth turning back on. It's been an interesting year, but I think we're at the point where the group should decide what to do with the hardware and finally dispand. When we started this venture we anticipated selling the hardware at the end of the year's mining and splitting the winnings from the sale between group members. However, the landscape has changed so dramatically since we started and given that bitmain are selling S3s for 0.52 BTC, which have much lower power consumption and about half the hashrate, we're not likely to get much for it.

I'd be interested to hear everybody's thoughts on what, where and how to sell. Ebay will fetch the best price, but we risk chargebacks (and so would have to keep the proceeds of the sale on hand until the chargeback period has ended) and will then face costs for converting to BTC to distribute to the group. I'm happy to sell on this forum, and have made successful trades here, but most people understand the value of the hardware and so the price will probably not be too high. Finally, I'd be willing to offer the group £50 (0.23 BTC at current exchange rate) for the hardware, which is broadly in line with the GH/s/BTC prices for the S3, because it's less hassle to keep it than break it up sell it and post it on. Also, I've grown somewhat attached to it after having looked after it for a year and it feels like a bit of history. Let me know what you think.

[jlsminingcorp]

By the way, I thought that you might like a final look at the frankenminer after the year's mining.

[Kushedout]

By the way, I thought that you might like a final look at the frankenminer after the year's mining.

Thanks for the update and the pic.

This has been one of the best managed group buys.

I am OK with whatever other members decide to do. You can also keep my share of the outcome (if any)

my address 12hv7UcFgrBWLjWs5McPYP63Yza6ufT6Sw

Thanks again for the venture.

[Stinky_Pete]

Hi

Thanks for the photo, its nice to see where the money went!

I'm fine with the idea of selling the hardware directly to you.

Thanks for the best organised and run group buy that I've been part of ~ its a shame the difficulty climbed so high, so quickly.

[jlsminingcorp]

Hi All,

I just stumbled across the old GB miner in the loft and it reminded me that I completely forgot to make the final GB payment (from me to the group for the hardware) last year. I'm very sorry about this, I think I was waiting for a couple more replies to my post to ensure that everybody was happy with the plan and then time slipped by and I forgot. In any case, I've made the final payment now (enjoy the dust!) and so the GB is officially (as well as practically) over. Good luck with all of your bitcoin ventures in the future. I'm going to lock this thread now, as we're all done. Cheers!