40 Shares of Coinhoarders Diversified Group Buy (BitFury/KNC/VMC/Hashfast)

[flowdab]

Description

Hi! So I've recently had a little liquidity crunch and need to tailor down my bitcoin investments. As such, I auctioning off 40 shares of CoinHoarder's Diversified Group Buy (https://bitcointalk.org/index.php?topic=268280.0). He has ordered 2112+ Gh with potential to order even more.

You can read the terms and conditions of the groupbuy in the above link. The purpose of the group buy as stated by CoinHoarder is:

Let’s face it, at this point we don’t know who out of the vaporware vendors will deliver on time, or if they will ever deliver at all. Investing in only one manufacturer’s hardware could leave you sitting on the sidelines and missing out on huge profits (see early BFL customers vs. early Avalon customers). I am spearheading a different type of group buy for the purpose of diversifying invested funds for the purpose of mining Bitcoins. By buying mining hardware from multiple manufacturers, I aim to reduce the variance and risks associated with buying vaporware.

Not only am I making the best effort to diversify they group’s investment funds, but I have chosen the cheapest products ($ per Gh) from three manufacturers that I think are not scams. All three companies have similar shipping projections (September/October/November.) Also, all products to be ordered are built on small process nodes, ensuring that we will have an energy efficient mining operation, leaving us profitable even after Avalon 1st gen chips become unprofitable (and others built on larger process nodes.)

Starting Bid: 1 BTC per share.

Buy It Now: 3 BTC per share.

b]End Date and Time[/b]: 4 days from the posting of the auction according to forum time.

Methods of Payment: BTC

Additional Information: The auction will be for the 40 top bidders. If a bid occurs right before or at the expiry of the auction, then the auction will be extended by 2 minutes.

CoinHoarder has verified that I am a shareholder (https://bitcointalk.org/index.php?topic=268280.msg2869200#msg2869200) and and if needed we can use an escrow. I agree to be bound by the results of this auction.

[flowdab]

Timer removed. End time: 2013-09-09+17:08:36UTC

[driksson]

how much did each share end up with? i remember min investment was 5btc?

[driksson]

376.20079636 BTC for 2112+ Gh, was the entire investment of the group right? but how many shares did that make?
just looking at how many GH each share will get.

[flowdab]

376.20079636 BTC for 2112+ Gh, was the entire investment of the group right? but how many shares did that make?
just looking at how many GH each share will get.

I believe it is about ~6/Ghash per share right now. There are investment monies waiting to be used to purchase mining equipment so this is difficult to quantify. I need to talk to CoinHoarder to determine if I can divulge that info regarding the amount waiting to be invested. I can say it is material.

I will allow for a refund within 24 hours if any information regarding the group buy is not acceptable to you.

[CoinHoarder]

376.20079636 BTC for 2112+ Gh, was the entire investment of the group right? but how many shares did that make?
just looking at how many GH each share will get.

This is true we spent about 376 BTC on hardware to be delivered October through November.

We also have about 224 BTC held in reserve group funds. This is because we are not too impressed with the current hardware offering's ROI. We are holding out for better deals, perhaps Avalon gen2 machines or lower prices from manufacturers for later shipping dates. We are kind of playing it by ear.

So a 40 BTC share will get you 1/15 of the hashing power of all hardware that is eventually bought minus electricity and a 3% hosting fee.

It is hard to say exactly what the cost per Gh will be because we have not spent the leftover group funds yet.

[TheJuice]

I can vouch for the integrity of CH and his group buys. He has gone above and beyond for his initial group buy!

[driksson]

376.20079636 BTC for 2112+ Gh, was the entire investment of the group right? but how many shares did that make?
just looking at how many GH each share will get.

So a 40 BTC share will get you 1/15 of the hashing power of all hardware that is eventually bought minus electricity and a 3% hosting fee.

It is hard to say exactly what the cost per Gh will be because we have not spent the leftover group funds yet.

Ok, so "As is now" its BIN 3BTCx40 for 141GH? (which will increase in GH as the 224BTC are spent?)

[flowdab]

376.20079636 BTC for 2112+ Gh, was the entire investment of the group right? but how many shares did that make?
just looking at how many GH each share will get.

So a 40 BTC share will get you 1/15 of the hashing power of all hardware that is eventually bought minus electricity and a 3% hosting fee.

It is hard to say exactly what the cost per Gh will be because we have not spent the leftover group funds yet.

Ok, so "As is now" its BIN 3BTCx40 for 141GH? (which will increase in GH as the 224BTC are spent?)

Yes. That is correct. That is the Buy It Now price.

[flowdab]

376.20079636 BTC for 2112+ Gh, was the entire investment of the group right? but how many shares did that make?
just looking at how many GH each share will get.

So a 40 BTC share will get you 1/15 of the hashing power of all hardware that is eventually bought minus electricity and a 3% hosting fee.

It is hard to say exactly what the cost per Gh will be because we have not spent the leftover group funds yet.

Ok, so "As is now" its BIN 3BTCx40 for 141GH? (which will increase in GH as the 224BTC are spent?)

Yes. That is correct. That is the Buy It Now price.

I apologize for the added replies but I am still unable to edit posts.

Any Buy It Now Offer can be made via PM. You do not need to buy all 40 shares as I am willing to sell each share individually. I'll update with a new reply the amount of remaining shares left.

Thanks.

[twentyseventy]

How exactly will you transfer ownership of the shares? Will CoinHoarder confirm the share transfer?

[flowdab]

How exactly will you transfer ownership of the shares? Will CoinHoarder confirm the share transfer?

We can do escrow or you can forward me the bitcoin and then I will let coin hoarder know via pm and this thread the number of shares purchased.

Coin hoarder has already been in the thread and I've made it known to him that I am auctioning my shares.

[CoinHoarder]

I will act as an escrow of sorts.

If you win the auction and send him BTC, I will make the share transfer. Just keep all payment info in this thread (as no one can edit posts here) and it will allow me to easily tell what happened with a quick check of the block chain.

[flowdab]

I will act as an escrow of sorts.

If you win the auction and send him BTC, I will make the share transfer. Just keep all payment info in this thread (as no one can edit posts here) and it will allow me to easily tell what happened with a quick check of the block chain.

Thank you. I'll throw you a tip once this has settled.

[flowdab]

bump

[twentyseventy]

Any chance you'll lower your per-share asking price?