*Failed*[Group Buy] 1070ti BULK BUY straight to OEM

[ark02]

Any updates Amir?

Hey everyone, sorry for the delays. Had a very fruitful trip to NYC on Sunday, met with our reps, met with Saj, and got some questions answered:

1) Kingston: I brought up our concerns during the meeting, and it turns out there was a huge misunderstanding. You guys are right, Kingston has nothing to do with NVIDIA memory, and I mixed up two completely separate deals. The memory shortage is still true, but NVIDIA gets their chips from Samsung and one other major manufacturer which you all know but due to the NDA I signed, I cannot disclose. 
I take 100% responsibility for this confusion, I completely misunderstood the details of what was being presented to me and then failed to check my doubts with some quick google searches. My background is electrical engineering, so trust me I understand the difference. Just did not look into it deeply enough.

2) Warranty, support, samples, etc: these and all other terms can and will be discussed once we show proof of funds. We operate at or above 100% delivery commitment with the factory and we will not approach them unless we're 100% certain we can follow through. We can't flash big numbers without follow-through, and we can't get to the front of the line unless we have a big enough order. If we put together a deal that's massive enough, we will negotiate favorable terms. Warranty, samples, the whole nine yards. Anybody that's in this industry can tell you, with graphics cards pricing changes every day. We need to move fast if we want to lock down this price and lead time.


What this means for you: All we need is proof of funds. Nobody is asking you to send money to anyone. If 1070ti at $350 is something that excites you, all we need to make it happen is how many you're interested in and proof that you hand the funds to follow through on that order. We have an initial milestone of $20M this week. If we can put together $20M PROOF OF FUNDS by Wednesday/Thursday then we will move on to the next milestone. If we can't get $20M in proof of funds by this week, there is absolutely no way we're going to put together a 100M+ deal in any reasonable amount of time.

The point here is to figure out very quickly whether or not this is going to happen, and if it isn't we should minimize the amount of time we waste.


Progress: We have about $4M in proof of funds to be collected by Wednesday so far. We're meeting and taking phone calls all this week with Miners, VCs, Investment Bankers, and anyone else with deep pockets that's interested in buying lots of cards. 16M to go.

All we need to do is show that we're serious and that we deep enough pockets to back up our interest. From there, we will fight to get the best terms. Once we've locked down terms we pay the factory with credit (not the money you've put in escrow). Once the cards are made, they ship them to us, we inspect, and if all is well we release our funds.

Hope this clears up some confusion. Back to the grind for us. If you need me urgently, try pinging me on telegram @amirofcrypto.

All the best,
Amir

[Fireballbu]

Ok, so the MOQ has gone up considerably from 10k units, since that would only be $3.5M. Keep us posted. Thanks Amir.

[madsashimi]

Any updates Amir?

Hey everyone, sorry for the delays. Had a very fruitful trip to NYC on Sunday, met with our reps, met with Saj, and got some questions answered:

1) Kingston: I brought up our concerns during the meeting, and it turns out there was a huge misunderstanding. You guys are right, Kingston has nothing to do with NVIDIA memory, and I mixed up two completely separate deals. The memory shortage is still true, but NVIDIA gets their chips from Samsung and one other major manufacturer which you all know but due to the NDA I signed, I cannot disclose. 
I take 100% responsibility for this confusion, I completely misunderstood the details of what was being presented to me and then failed to check my doubts with some quick google searches. My background is electrical engineering, so trust me I understand the difference. Just did not look into it deeply enough.

2) Warranty, support, samples, etc: these and all other terms can and will be discussed once we show proof of funds. We operate at or above 100% delivery commitment with the factory and we will not approach them unless we're 100% certain we can follow through. We can't flash big numbers without follow-through, and we can't get to the front of the line unless we have a big enough order. If we put together a deal that's massive enough, we will negotiate favorable terms. Warranty, samples, the whole nine yards. Anybody that's in this industry can tell you, with graphics cards pricing changes every day. We need to move fast if we want to lock down this price and lead time.


What this means for you: All we need is proof of funds. Nobody is asking you to send money to anyone. If 1070ti at $350 is something that excites you, all we need to make it happen is how many you're interested in and proof that you hand the funds to follow through on that order. We have an initial milestone of $20M this week. If we can put together $20M PROOF OF FUNDS by Wednesday/Thursday then we will move on to the next milestone. If we can't get $20M in proof of funds by this week, there is absolutely no way we're going to put together a 100M+ deal in any reasonable amount of time.

The point here is to figure out very quickly whether or not this is going to happen, and if it isn't we should minimize the amount of time we waste.


Progress: We have about $4M in proof of funds to be collected by Wednesday so far. We're meeting and taking phone calls all this week with Miners, VCs, Investment Bankers, and anyone else with deep pockets that's interested in buying lots of cards. 16M to go.

All we need to do is show that we're serious and that we deep enough pockets to back up our interest. From there, we will fight to get the best terms. Once we've locked down terms we pay the factory with credit (not the money you've put in escrow). Once the cards are made, they ship them to us, we inspect, and if all is well we release our funds.

Hope this clears up some confusion. Back to the grind for us. If you need me urgently, try pinging me on telegram @amirofcrypto.

All the best,
Amir

While it's nice to have this additional information again I find myself not able to fully understand what is going on here. This group buy started at 10k units at a total value of $3.5m, the first post (last updated 3 days ago) shows commitments of about 5k units suggesting a status of about halfway.

In this post you indicated that you have commitments for over 11k units already and you are seeking commitments for an additional 45k+ units to even move forward. How are any of us expected to plan our financial commitments when the group buy is drastically changing constantly? Over the last few days the minimum appears to have ballooned by nearly a factor of 6!

[ark02]

Any updates Amir?

Hey everyone, sorry for the delays. Had a very fruitful trip to NYC on Sunday, met with our reps, met with Saj, and got some questions answered:

1) Kingston: I brought up our concerns during the meeting, and it turns out there was a huge misunderstanding. You guys are right, Kingston has nothing to do with NVIDIA memory, and I mixed up two completely separate deals. The memory shortage is still true, but NVIDIA gets their chips from Samsung and one other major manufacturer which you all know but due to the NDA I signed, I cannot disclose. 
I take 100% responsibility for this confusion, I completely misunderstood the details of what was being presented to me and then failed to check my doubts with some quick google searches. My background is electrical engineering, so trust me I understand the difference. Just did not look into it deeply enough.

2) Warranty, support, samples, etc: these and all other terms can and will be discussed once we show proof of funds. We operate at or above 100% delivery commitment with the factory and we will not approach them unless we're 100% certain we can follow through. We can't flash big numbers without follow-through, and we can't get to the front of the line unless we have a big enough order. If we put together a deal that's massive enough, we will negotiate favorable terms. Warranty, samples, the whole nine yards. Anybody that's in this industry can tell you, with graphics cards pricing changes every day. We need to move fast if we want to lock down this price and lead time.


What this means for you: All we need is proof of funds. Nobody is asking you to send money to anyone. If 1070ti at $350 is something that excites you, all we need to make it happen is how many you're interested in and proof that you hand the funds to follow through on that order. We have an initial milestone of $20M this week. If we can put together $20M PROOF OF FUNDS by Wednesday/Thursday then we will move on to the next milestone. If we can't get $20M in proof of funds by this week, there is absolutely no way we're going to put together a 100M+ deal in any reasonable amount of time.

The point here is to figure out very quickly whether or not this is going to happen, and if it isn't we should minimize the amount of time we waste.


Progress: We have about $4M in proof of funds to be collected by Wednesday so far. We're meeting and taking phone calls all this week with Miners, VCs, Investment Bankers, and anyone else with deep pockets that's interested in buying lots of cards. 16M to go.

All we need to do is show that we're serious and that we deep enough pockets to back up our interest. From there, we will fight to get the best terms. Once we've locked down terms we pay the factory with credit (not the money you've put in escrow). Once the cards are made, they ship them to us, we inspect, and if all is well we release our funds.

Hope this clears up some confusion. Back to the grind for us. If you need me urgently, try pinging me on telegram @amirofcrypto.

All the best,
Amir

While it's nice to have this additional information again I find myself not able to fully understand what is going on here. This group buy started at 10k units at a total value of $3.5m, the first post (last updated 3 days ago) shows commitments of about 5k units suggesting a status of about halfway.

In this post you indicated that you have commitments for over 11k units already and you are seeking commitments for an additional 45k+ units to even move forward. How are any of us expected to plan our financial commitments when the group buy is drastically changing constantly? Over the last few days the minimum appears to have ballooned by nearly a factor of 6!

NVIDIA's annual revenue is in the billions, they don't do deals in in the hundreds of thousands of dollars, and getting a ~5M deal done would have to be a favor, even when NVIDIA isn't as hot as it is right now.

People don't always take you seriously (especially online) when you start to throw around massive numbers. We could never crowdfund an order like this online in a reasonable amount of time, and even if we did it would fail miserably because the operational capacity to ship hundreds of thousands of cards to small buyers all around the globe doesn't just pop up out of nowhere.

The only way to get this done is to go through our networks and assemble all the biggest buyers. If we're able to pull that off, we can carve out a juicy order for ourselves here.
So far today we've had some really promising conversations, still sitting at 3.5M in proof of funds. We are meeting with this guy tonight, who is apparently really interested in mining: https://www.linkedin.com/in/michaelhchang/
Wish us luck.

All we need is proof that there are people interested who have the money. Nobody writes a single check.

[kebabman]

In the US possibly interested in 50 or so cards.  How will all the logistics work?  I would need to be able to use escrow if im going in on someone elses deal if thats possible.  Im in the US, and when would you be looking to make the order since there is a 8-10 week lead time.  Thanks.

We can talk about adding onto my order. Where are you in the us? Would be nice to meet in person if we could. I’m hoping to have most people that add on use PayPal or Etsy / eBay for protection, but I should be able to cover some people that won’t do those methods.

I'm in New England, possibly interested in 50 also.

Great, can we meet up in person one day this coming week? I would like to meet with 3 or 4 veteran members to gain some validation for sponsoring others on here.  You can contact me through skype, email, ( saj1420@gmail.com)  telegram ( @saj1420 ) or I can PM you my cell if you prefer.

Tried to get in touchb Skype and Telegram, no luck. Sent you a PM hit me back so we can talk more.

[wheelz1200]

So what is the moq now?  Way more than 10k it seems.  Unless you have a very large investor i dont think a group of miners will be buying 50k-100k 1070ti cards in one fell swoop from this community and be able to line up all the details, funding etc.  Although the price point is interesting....i could be wrong and hope i am.

[ark02]

So what is the moq now?  Way more than 10k it seems.  Unless you have a very large investor i dont think a group of miners will be buying 50k-100k 1070ti cards in one fell swoop from this community and be able to line up all the details, funding etc.  Although the price point is interesting....i could be wrong and hope i am.

MOQ is 200,000 units, and we do have extremely large buyers interested. Working on setting up meetings this week. I'm very optimistic after today's calls.

[wheelz1200]

So what is the moq now?  Way more than 10k it seems.  Unless you have a very large investor i dont think a group of miners will be buying 50k-100k 1070ti cards in one fell swoop from this community and be able to line up all the details, funding etc.  Although the price point is interesting....i could be wrong and hope i am.

MOQ is 200,000 units, and we do have extremely large buyers interested. Working on setting up meetings this week. I'm very optimistic after today's calls.

Dam thats a crazy amount of cards.  Ok will follow im just a possible small amount but will grab on if the cards fall right

[lossol]

I was interested. But how does the MOQ go from 10k units ($350 ea) at $3.5M to 50K+ units at $20M a few days later to now 200K units at $70M 9 hrs. Later. This is either insane or a scam as the numbers keep changing!

[P00P135]

I was interested. But how does the MOQ go from 10k units ($350 ea) at $3.5M to 50K+ units at $20M a few days later to now 200K units at $70M 9 hrs. Later. This is either insane or a scam as the numbers keep changing!

Greed and stupidity.  By the time this "deal" comes together Volta will be shipping and no one will want their order.

[jenia1]

in which form should we provide proof of funds?


In addition. In case this really takes off, I can offer my transport services, since I work directly with a warehouse in China that can ship it for substantially cheaper than any other conventional method such as DHL, UPS and so on... plus I have a warehouse in CA,US from which I can manage the  further distribution.

[ark02]

in which form should we provide proof of funds?


In addition. In case this really takes off, I can offer my transport services, since I work directly with a warehouse in China that can ship it for substantially cheaper than any other conventional method such as DHL, UPS and so on... plus I have a warehouse in CA,US from which I can manage the  further distribution.

Letter from your bank stating you have the funds available to make a purchase of X size
For this week's milestone if you can get a copy of your statement or screenshot of your balance while your bank puts the paperwork together it would help.

What are the details? Can we discuss over the phone? We can use this now... haha

UPS hasn't been bad, as long as we keep the volume up we can get things from point A to point B pretty much anywhere in the world (with a few exceptions) for very cheap.
Freight / Air Freight is also not so bad, as long as we schedule everything well over a month in advance. It's the last minute freight deliveries that end up costing a ton.

I was interested. But how does the MOQ go from 10k units ($350 ea) at $3.5M to 50K+ units at $20M a few days later to now 200K units at $70M 9 hrs. Later. This is either insane or a scam as the numbers keep changing!

Greed and stupidity.  By the time this "deal" comes together Volta will be shipping and no one will want their order.

If we get this deal together we'll be one of the first to get Voltas.

Q) Will we fall short of 100M and fail to get this order in?
A) It's very probable.

Q) Is there 100M out there of capital that is interested in buying these cards, and do they have a trustless way of helping us get to the next step?
A) 100%.

It's definitely doable. We just have to put this in front of the right people with the right checkbooks, and then work our a**es off to make sure they are 100% satisfied and all their terms are met.

I'm confident my team will pull through on that.

All we need right now is Proof of Funds.

Best,
Amir

[jenia1]

in which form should we provide proof of funds?


In addition. In case this really takes off, I can offer my transport services, since I work directly with a warehouse in China that can ship it for substantially cheaper than any other conventional method such as DHL, UPS and so on... plus I have a warehouse in CA,US from which I can manage the  further distribution.

Letter from your bank stating you have the funds available to make a purchase of X size
For this week's milestone if you can get a copy of your statement or screenshot of your balance while your bank puts the paperwork together it would help.

What are the details? Can we discuss over the phone? We can use this now... haha

UPS hasn't been bad, as long as we keep the volume up we can get things from point A to point B pretty much anywhere in the world (with a few exceptions) for very cheap.
Freight / Air Freight is also not so bad, as long as we schedule everything well over a month in advance. It's the last minute freight deliveries that end up costing a ton.


Amir

Hey Amir.

Feel free to contact me via any of the methods I have on my profile here. preferably skype so we can organize a call
Best.

[Skipbay69]

Amir check your email my friend is still interested and would like to meet up thanks.

[sAj1420]

I am working on getting my list and proof of funds over to Amir and Evan tonight, can anyone that wanted to order less than 300 and who wanted to go through me please contact me as soon as possible? You can text me or call me at 1-413-251-9291 - text is usually the best  way to get a hold of me.

[ark02]

We're tallying up the PoF received so far. Looking really good, very excited to update you all tonight.



If you're past the 300 minimum order threshold, please try to send in your proof of funds tonight. The farther we blow through our targets the faster we can lock down pricing.

EDIT:
Week 1 Goal: $20M PoF
Week 1 Results: $29M PoF

2/5/18 Goal: $40M PoF
2/8/18 Goal: $80M PoF

We blew past the first milestone in just over three days! Mostly though, THANK YOU guys for spreading the word around and getting a number of big players to come out of the woodworks.
We have our meeting in 9hrs, if you've got Proof of Funds that we're waiting on please try to get whatever you can in before 9am PT so we can walk in with over 30M PoF.

Otherwise, keep posting on telegram/twitter/facebook and reach out to anyone you know who has already heavily invested in mining, and send them to this thread. We've made a shortlink: http://link.revolux.io/bitcointalk
Related: We recently did this podcast ( http://link.revolux.io/cryptocousins ) and had TONS of fun. You guys think someone would be willing to take us on as guests? We're itching to do more.

Fingers crossed, we might just be able to pull this off. After all of this week's phone calls, I'm very optimistic. I can't wait for tomorrow.

Onwards,
Amir

[jenia1]

can we also provide a proof of funds  with a BTC address signing?

[jenia1]

Hey Amir,

so where are we standing currently?

P.S
You still didn't contact me.

[ark02]

can we also provide a proof of funds  with a BTC address signing?

Yes just sign a message stating the quantity you're requesting and e-mail it over.

Hey Amir,

so where are we standing currently?

P.S
You still didn't contact me.

Sorry I haven't posted any updates in a few days!
We've been really really swamped traveling all over the place in back-to-back meetings for the last week and a half now. In general, If I don't get back to someone:
1) please forgive me, and then
2) please check http://vyte.in/amir where you can overlay your calendar onto mine and find a time that works for you to hop on a call.


[Pics to come once I'm off this sh**ty plane WiFi]
I'm currently being flown out of Chicago and into NYC, and will be there all day tomorrow if anyone wants to meet up. More big meetings lined up, and then lawyers lawyers lawyers.


We're sitting at ~$35M Proof of Funds collected! We're pushing to lock down pricing and other specifics this week, and waiting for some bigger buyers to send in actual Proof of Funds letters from their banks (some provided screenshots, statements, deposit slips, etc.) We're OK to approach the factory for now though, and we want to keep moving fast with this.


QUESTIONS:

• A number of you have mentioned you're interested in 1080ti's instead of 1070ti's. As mentioned in the op, this is entirely up to us but we need to have a discussion about it. Based on our calculations, price/MH and MH/W 1070ti was the better choice. Please discuss
• Are you guys open to other non-gpu options (like ODM ASIC's) that require a smaller order size, if the graphics cards don't happen?

TO DO FOR US:

• I've messaged everyone on the list who is over the 300 unit minimum, some of you I cannot PM. Please set up a call here; http://vyte.in/amir
• There is a hefty list of people who need sponsors. We need an organized effort for these people to group up and then go find someone they trust to handle their transaction/escrow
• If you have the operational capacity to sponsor cards, please announce your terms here!

jenia1, third times the charm. Let's link up!

Best,
Amir

[BenCodie]

I'm watching this thread from couple of weeks and but seems you guys didn't managed to get anything yet except assumptions.
Can you guys tell me how and when this GB going to happen, what is lead time kindly PM me with more detail, I might be interested in 100+ GPUs if this is legit.

Thanks