Hey all!
Im a share holder of Coinhoarder's 7 Avalon group buy and am trying to model this after his professional/transparent approach. (I Hope he doesnt mind
) After hearing about Bitfury's working prototype and seeing the August delivery machines sell out in 24 hours I decided to start this group buy and get on board!
Im putting this group buy together for the Bitfury 400GH/s mining hardware. The units for August delivery are already sold out so this buy will be for October delivery. As soon as enough is collected I will place an order. If there is enough interest/capital a second unit can be purchased and then a third and so forth until either there is not enough funds for a final unit or I decide the power/space requirements are too much for me to handle. Any left over funds will be refunded.
All units ordered will be hosted in my home/and or in a secondary location if need be, however this has its drawbacks as it is 30+min away. The advantage I have over some others is my electricity is cheaper (around $0.06-0.07/kw). I also live in an area that does not experience extreme summer heat. Today reached a high of 81F with last nights low being 53F. This means A/C will not be needed as much to keep temps under control which also means less electrical cost. I estimate electrical cost to be about $20/month per 400GH/s unit. (note: this also is calculated based on Bitfury's estimate of 400watts per unit)
Each Bitfury is currently listed at $8000 for October delivery (
https://megabigpower.com/shop/index.php?route=product/product&path=59&product_id=53) so at the current rate of about $100/BTC we need about 80BTC for our first unit.
TermsWhat you're buying:
You are buying shares of one or more 400GH/s Bitfury miners.
1 BTC invested = 1/X portion of the profits from all mining units combined
(X being the total amount invested on all units)
Minimum investment of 3BTC at this time. (I may lower this later.)
Electrical cost will be subtracted from the months end dividend payments using the latest Mt Gox rate. Electrical cost includes the cost to run any mining units bought by the group as well as the use of A/C and/or fans to regulate heat.
I will charge a 3% hosting fee that will be deducted at month end as well as a 2% pool fee, unless an alternative is decided on by the group (P2pool is an option)
I can not and will not be held responsible for things out of my control. This includes such things as difficulty increase, BTC prices, Bitfury delays or failing to produce anything at all, etc. I will do anything in my power to make this successful for all involved but realize that things can happen. I plan on being a share holder as well and want this to ROI as much as the rest of you. This is risky, there are lots of new and powerful ASIC devices coming on the market, its very hard to get a reading on them all and guess what the difficulty might be. Bitcoin price is also an unknown and can not be accurately predicted. Do your own calculations and invest appropriately.
Dividends will be paid monthly but can possibly be done on a bi-weekly bases depending on the total number of investors. Realize that I have a full-time job outside of the Bitcoin world so my time must be split.
You have the option to sell your shares to anyone at anytime, however I reserve the right to remove this option and or modify it as needed.
Who am I?Ive been a member of this community since July 2012. I might not post as much as some but I like to think my posts have some value rather than "I agree!", "BTC PWNS!!!!", etc. I do spend a lot of time reading and tweaking my mining rigs. I started out with a single HD4850 mining and quickly bought some 5850's to convert my existing HTPC and main desktop both to dedicated mining rigs. Those both paid for themselves in a few months time and allowed me to buy some FPGAs. From there my ASIC adventure started... I traded my FPGAs in for bASIC's which ended badly. I have since switched my two rigs over to Litecoin, built two additional Litecoin rigs, and ordered ASICMiner USB Block Erupters from groupbuys here in the forum as well as shares of some Avalons. I wanted to buy BitFury did not see many options and thought I might be able to do better. So here I am... Im willing to answer questions as I know this is my first group buy.
If you are interested in investing, please send Bitcoins to: 1HCk6841vmsY567wiThNzvcij5VPj9nZc8A minimum of 3BTC is required for investing, anything less will be sent back to the sender.
Only send from an address you control, you will need to be able to sign a message from that address in the event of a dispute.
Please reply to this thread with the amount of Bitcoin you wish to invest as well as the sending address. Dividends will be paid to this address unless otherwise specified.Here are the prototype pics:
https://megabigpower.com/images/01-M-CARD.gifhttps://megabigpower.com/images/02-M-CARD.gifhttps://megabigpower.com/images/03-M-CARD.gifLets get hashing!
Thanks,
AmDD
