KnCMiner's Jupiter Upgrade + 6 months of hosting - ORDER DAY 1

[ffernandex]

I'm auctioning 1 KnCMiner's Jupiter Upgrade + 6 months of hosting for an order scheduled for day 1

I have purchased one KnCMiner Saturn that is scheduled for day 1. It is oder number #1824. You can confirm that this order has been scheduled for day 1 with this code 324-9TTJ-001824 in the front page of KnCMiner where it says Tracking.

I'd really like to be able to purchase the Jupiter upgrade myself, but right now I'm out of funds to invest. So at least I'm planning on getting the cheapest hosting rates for the Jupiter and perhaps obtaining some gain from the fact that I have a day 1 oder. Thus, I'm auctioning the option to purchase the upgrade to a Jupiter + half of the 6 months Jupiter hosting plan scheduled for day 1.

The winner of the auction will own 50% of the Jupiter unit, and will receive 50% of the BTC the Jupiter mines during the hosting period (discounting any pool fees, if applicable) which I will send to him or her whenever the pool distributes the profits; we can work out any reasonable schedule for distribution of profit.

This 50% of the Jupiter unit amounts to 200 GH/s nominal hashing power.

The reason I'm choosing 6 months hosting plan is that I expect the unit will make the most profit in that period, and given the uncertainty regarding future massive rise of difficulty, we can evaluate at the end of the 6 months period whether it is profitable to keep hosting the machine or sell it, or buy each other's share, or any suitable arrangement.

I will set the minimum bid at 50 BTC to start with a round number. 50 BTC for 200 GH/s (4 GH/s per BTC) is a great ratio, specially considering it covers hosting + electricity

This covers:

*50% of the Saturn order + Jupiter Upgrade (3795 + 3500) / 2 =     $3,648 USD
*50% of the Jupiter hosting plan for 6 months  (2200 / 2) =             $1,100 USD
                        
                        TOTAL COST       $4,748 USD

The difference to the 50 BTC will cover exchange rate risk, transaction fees, and a minimum gain for myself.

I'm expecting some funds that will allow me to purchase the upgrade and hosting before the end of the auction. I will be inclined to do so as soon as I receive one valid bid that ensures the auction will succeed. In the event that I have not been able to buy the upgrade and hosting by the end of the auction, I will do it as soon as I receive the BTC from the winner.

In the event that for any reason KnCMiner stops selling upgrades or hosting during the time of the auction, or any event of force majeur makes impossible the fulfilment of this auction, the auction will be void. If the payment of the winner has been made I will return all the BTC received. Nonetheless, once I have purchased the upgrade and hosting and the auction has finished successfully and it's been paid for, no refunds are allowed.

You should understand that by participating in this auction you assume the risks involved with dealing with KnCMiner and investing in a Bitcoin mining venture. If for any reason KnCMiner does not deliver what it promised or delays production, if the difficulty rises more than expected, or if you don't recoup your investment, I will not be held responsible of any loss. You'll be partnering with me in sharing the risks and the profit of this venture.

Terms
* Minimum bid is 50 BTC
* Minimum increment is 0.5 BTC
* The auction will extend for six days and will end on Saturday at midnight board time (UTC)
* Winner is expected to send funds within 36 hours of auction end.
* Bid format: 1 @ XX BTC

I'm open to use escrow, but given the nature of the auction I really don't see how it could work. If you have an idea I'll be glad to discuss it as long as you pay the escrow fees. I have worked with John K. in the past and he provides an excellent escrow service.

Timer removed. End time: 2013-08-10+19:00:00

[1714754900]

1714754900

[dwdoc]

Sounds like a good opportunity for someone late to the party to get in on some early KNCminer hashing. Good luck with your auction.

[arbitrage001]

What does day 1 mean? Is it in September or October?

[madsusies]

I do not know the 1# do not need pay a VAt or even UPS (min 300usd to chille)   

[ffernandex]

Sounds like a good opportunity for someone late to the party to get in on some early KNCminer hashing. Good luck with your auction.

Thank you!

[ffernandex]

I do not know the 1# do not need pay a VAt or even UPS (min 300usd to chille)   

I don't pay VAT because I'm not in the EU

I don't pay shipping because I expect to host the machine in their datacenter, so I chose "Stockholm Pickup" method as they specified for people expecting to host with them.

Best,

[ffernandex]

What does day 1 mean? Is it in September or October?

KnCMiner has not specified a date, but they have said in many opportunities that the early orders (those marked as day 1 or 2) shall be ready during September.

This is from the news section in their website,

Chip progress

We get a lot of questions about where we are in the process of our production. We would like to assure you all that we are on track for the first shipment in September

https://www.kncminer.com/news/news-23

[ffernandex]

Come on guys, this is a great opportunity to take advantage of some early KnCMiner hashing.

I'm available to reply your questions.

Best,

Felipe

[Phoenix1969]

where is the auction?

[AussieHash]

1@49 btc

[ffernandex]

where is the auction?

What do you mean where?

[soniq]

You might want to check with KNC to see if you can transfer a paid invoice.

I tried to transfer a paid invoice  to my account and KNC would not allow it

[Anenome5]

You might want to check with KNC to see if you can transfer a paid invoice.

I tried to transfer a paid invoice  to my account and KNC would not allow it

Did you read the OP; he's not transferring an invoice.

[ffernandex]

You might want to check with KNC to see if you can transfer a paid invoice.

I tried to transfer a paid invoice  to my account and KNC would not allow it

I won't be transferring the ownership. The winner of the auction will receive their share of profit of half he Jupiter unit directly from me. This will work as a kind of group buy, with only two investors, me and the winner of the auction.

Best,

[ffernandex]

1@49 btc

Are you willing to honor that bid? I may accept it if you will.

Best,

[dwdoc]

Was this a 1-500 Jupiter (one of the first 500 ordered)?

[dwdoc]

Nevermind-I see it was a 1-500 Saturn.

[ffernandex]

Nevermind-I see it was a 1-500 Saturn.

Yes, and KnCMiner offers the option to upgrade to a Jupiter while keeping the same place in line,

https://www.kncminer.com/products/saturnjupiter-upgrade

The upgrade module will turn your current Saturn device into a Jupiter. You will also retain your shipping queue placement.

[ffernandex]

where is the auction?

The auction is in this thread.

[dwdoc]

So if you get twice the hashing and pay out half the income what advantage do you get? Why bother?