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Author Topic: [OPEN] Diversified Group Buy: ฿1 Share = ~6GH/s Oct [Cointerra/KNC/BitFury/VMC]  (Read 1233 times)
voxelot
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September 03, 2013, 10:29:12 PM
 #1

Status Updates
I will be sending the first share to SebastianJu... Escrow is live.

Open for discussion on interest in purchasing rigs.... or will any hardware break even.. do you have to know somebody at TSMC to really know who will ship first?  Shocked  

I will probably build a non-advertised site for this GB and the hosting I am to do for investors.  Should make it easier to view things like hardware break even goals.  


Order Status
Code:
+----------+-----------------------------+---------+------------+-------+----------+
| Progress | Investment                  | Payment | Status     | Order | Date     |
+----------+-----------------------------+---------+------------+-------+----------+
|     1.5% | Bitfury 400G Miner          | BTC     | funding    | -     | -        |
|     0.0% | KnC Jupiter                 | BTC     | preparing  | -     | -        |
|     0.0% | Cointerra TerraMiner IV     | BTC     | preparing  | -     | -        |
|     0.0% | VMC Fasthash Platinum       | BTC     | preparing  | -     | -        |
+----------+-----------------------------+---------+------------+-------+----------+
All prices before tax and shipping.
1. ($8,000) Bitfury 400 GHash/s Miner - October Shipping:
2. ($4,995) KnC Jupiter - November Shipping:                                      
3. ($13,999) Cointerra TerraMiner IV - Shipping December:                      
4. ($5,699.05) VMC Fasthash Platinum - Shipping Oct/November:                          
5. Options to be discussed by group.
 


What makes this group buy different?

0% Management and hosting fees for as long as I can sustain the crowd. Any other fees will be presented in democratic fashion if need be.

This is a group buy designed by an open source software/hardware developer located centrally USA.  This group is similar to the one started by Senior Member CoinHoarder, however he and other Group Buy Coordinators charge a 3% management fee and/or an additional 2% hosting fee.  They claim these fees assure professionalism when nothing can be ensured from a pre-order or start up company.  This group buy is here to start discussions on what rig investment is thought to be the best.  Spreading out investments over multiple companies will give diversified group buys a better chance of returning profit.

We vote on what rig we want to buy.  By placing a share with a message for what rig you would like to purchase can be considered your vote.  You can always change your vote at a later time and I will move your share % to your changed rig.  This is a shared profit GB and your share will consume the percentage from all rigs.  You can always refund before a rig is purchased thanks to Sebastian.

Here is a list compiled of what is thought to be the most profitable rigs.

http://decentralizedhashing.com/bitcoin-mining-equipment-table/

Idea's on who will ship and what is profitable change daily so the format for purchasing shares is listed after the terms.


Terms & Escrow

Please be mindful of the companies we are organizing to buy from.  Know the risks involved before sending anyone your BTC. The risks involved here are greatly dependent on the ASIC company we want to use to mine.  Shipping dates and return policies need to be scrutinized before a commitment of money is made to SebastianJu Escrow.  I would not like to waste his time.

ALL funds are to be sent to SebastianJu Escrow.  He offers NO protection of your investment after the funds have been processed and the miner is shipped to my hosting location.

I then can only offer my best efforts at protecting the rig from physical harm.  I will work closely with the pool of our choice to reduce the possibility of account theft.  I will keep a tedious record of all shares bought and sold.  I will periodically deposit funds in a paper backup until time of dispersal for extra protection if needed.  Sending payments out more frequently reduces the risk of hacked damages and I am open to this suggestion.  You are free to do whatever you like in this group buy and that includes selling your shares to anyone else.  Please notify me if you are to do such a transaction.  If you are to buy shares here from a third party please be careful to sign your transactions and have the original share holder send me a personal message with the signed TX ID.  If you would like a refund before the miner your share was put towards is purchased, please message Sebastian and myself so that I may record the refund and update my logs of investors.

ALL products will be bought based upon community voting.  This is a group buy on what the group thinks is the best value for the money raised.  If enough money is raised to buy the lowest cost item: A vote will be put into place to determine if the group would like to buy said item.  If not SebastianJu will continue to hold funds until we reach the next higher priced miner. These votes will continue until the community decides on a miner or decides to have SebastianJu refund their BTC.

I reserve no right to change or place orders based solely on my own opinion and will only allow democratic voting be the decider of how your investment is to be spent. The goal of this is to hope that reason becomes more of the deciding catalyst on how miners will be purchased rather than greed.  A good deal on a pre-order can become obsolete if a start up company develops a better ASIC so the watching eyes of the community are an asset here.


Hosting 0% Fees

I will be hosting these rigs out of my home in an attempt to do a service to the community.  I live in a centrally located low kWh area (about $0.132706681766704 to be exact) and can donate my space, power, and time to the network.  Tips are appreciated.  I reserve the right to ask for a transparent fee placed on energy costs if we end up hosting more than I thought was possible from this group buy.  I expect that my hosting location will become a community discussion and I will always consider ways to improve.  Currently the location has stable power and ISP.  

You could say my hosting location is about tier II with some redundancies in place not exactly ran at 2N, rather closer to N+1 dependency on redundancy.  My home was used in the early 1900's as a hospital and space is not an issue.  We have dual ISPs for total coverage and back-up housing in case of mass power outage for a prolonged period of time. With donations I can purchase GV IP network cams and provide log-ins to investors for 24/7 viewing of the rig. If no donations are received and there is still a demand to view the rigs 24/7 I could open an open source solution (MisterHouse) to a secure IP connection. I will add the mining rigs to the home owners insurance in case of fire or flood. Safety is a prime concern so I can not disclose too much information about the location but I am more than available to take phone calls, Skype conversations, or meet in person for investors.


Pay-outs

The mining pool these rigs will be hosted on will be chosen democratically to offer the highest level of transparency as to where your hash is being dedicated.  Choosing appropriate mining pools to minimize rejects, minimize pool fees (if appropriate) and maximize pool efficiency; providing a suitable environment for the miner. It is an option that I or someone from the community could create a bitcoin-qt private wallet server for mining solo.  I will keep extensive records with excel spread sheets on the investors and the amount of pay-out.  Pay-outs are planned to take place weekly at your specified address.  The community can also decide if mining a SHA256 derivative would be more profitable and has the ability to switch the pools if one presents itself.

Security and Discretion

You have every right to remain anonymous.  I am transparent to anonymous members of this GB and will connect to secure networks for communication if need be.  Keeping certain discretion with the server locations for wallets will also add some security.  


About Me

I do mathematics.  I have been working with the Klondike designs put forward by Bkkcoins on the Gen 1 Avalon ASIC designs.  The generosity of the open source community has given me the chance to study ASIC designs on the older gen chips and I hope by doing service here I will remain close to newer silicon ASIC designs.  I may or may not be developing my own VHDL sims for a high power ASIC as a hobby while hosting miners as my job.  I will also be tutoring mathematics.


Trust

This to me is an interesting topic.  I see some offering vetting services and know that you can not talk your way into or buy trust.  I am willing to be completely transparent with all investors and friends of non-greedy business. Pictures of mining location and current set-ups coming soon.  I can promise you will not see a usb hub with 50 block erupters trying to mine your BTC.


How to buy shares

1 share = 1 BTC = 1/x percentage returned in profit, where x represents the total amount of BTC invested in ALL miners to be hosted at my location.  
Send funds to SebastianJu with a signed message here:

14NKT5onwBPiLuYCumDysVLq4cJmyM3Lm8

Then be sure to post in this thread or PM me with the same info sent to Sebastian so I can keep a record of investors address and investments.
 
How to sign a message.

MORE SIGNING/VERIFYING INSTRUCTIONS (Courtesy of sebastianJu)

1.Copy the sending address from which you sent with to the group buy. If you mean that the sending address doesn't look like yours its probably a change address. This address is yours of course when you sent bitcoins with it. If you don't know the address then go to the transaction, where you sent bitcoins to the group buy, and check the details. There is a transaction-id. Copy this t-id and put it into the form field at blockchain.info. Then you can see the sending address(es) you sent the bitcoins with.
2.Choose "sign messages" in your wallet.
3.Copy the sending address in the field at the top where the address has to be.
4.Put your forums username in the message field. (If possible use only your username and not more signs or words to prevent errors while sending the info via pm or while verifying.)
5.Click at sign.

The signature IS NOT stored in bitcoin network (blockchain) and isn't automatically transmitted to me. The signation only creates data, the signature, that is the long string at the bottom that ends to =. In order i can verify the sending address you need to send me the signature. See next point.

Create a pm and set up two code tags. Like this here:
Example-Code-Tag (Created with BBCode, that is the number sign on top of PMs or Posts while creating them):

Code:
This rectangle is a code-tag created with the hash-button above
the textfield when creating a pm or a post.
Put the message and the signature each in such tag.

  • The code tags are important so that while sending the pm no wrong signs come to it that could make the message or the signature faulty.
  • In the first codetag put in the signed message, for example your username. IMPORTANT: Upper- and Lowercase does matter. You have to verify the exact same text you used for signing.
  • In the second codetag put in the created signature. Please be careful to copy all signs of the signature. For example use ctrl+A to mark all signs, then ctrl+C to copy them.
  • Go to Verify signed messages via website and put in your username (your message) and your signature into the fields. To be sure all is copied correctly first go in the field with the mouse, click ctrl+A to mark all the old text, then click ctrl+V to overwrite all marked text. Klick "Verify Message" and see that the sending address comes out that you signed the message with.
  • If that happened successfully send the pm.
  • As soon as i verified the signature and message and got the correct sending address out of it you will be verified.
  • Who is using armory knows that the result of signing is different. Its a block of text. Simply send me that block. I can verify it.
  • Here a video tutorial to sign with the normal Wallet: Bitcoin-QT signing (Thanks to Foofighter)
  • Here a video tutorial to sign with a Onlinewallet: blockchain.info wallet signing (Thanks to Foofighter)

When enough BTC has been collected to consider purchasing a system we vote on wether we want to or not.  The funds SebastianJu are holding could then be used to purchase the mining rig.  Due to the volatile nature of BTC.. if there are any remaining funds after the purchase and shipping charges to get the rig to my hosting loaction due to value increase... Sebastian will refund the value back to the GB.  
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voxelot
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September 04, 2013, 04:20:40 AM
 #2

Shareholders


Code:
Investor Name:                      Number of Shares:                            Share Percentage:

voxelot                             1/66 Bitfury 400G supporter.                 1.51%


SebastianJu
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September 05, 2013, 09:19:20 PM
 #3

I was asked to provide escrow to this groupbuy. I can hold payments in bitcoin and will order in the name and to the shipping address of the groupbuy organizator. This means that is the time i can hold the bitcoins save.

The escrow address would be:
Code:
14NKT5onwBPiLuYCumDysVLq4cJmyM3Lm8

Thanks!

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voxelot
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September 06, 2013, 08:30:57 PM
 #4

I will be out for the weekend moving from my location in LA to my central location.  SebastianJu is open for collecting shares on miners you would like this group to buy.  Please feel free to send your vote/share in with a PM to me  and Sebastian or a public post and I will get back with you by Monday.

Regards
anykeywhy
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September 06, 2013, 10:04:51 PM
 #5

Smiley
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