[GROUP BUY WORLDWIDE] #1 Bitmain Antminer U1 USB Erupter [CLOSED AND REFUNDING]

[reactor]

They are focusing on S1. If no answers from Bitmain then i will close the group buy.

After you've done so much work, it would be a shame...

The shame is there is a line of folks waiting to start and continue buying in bulk but no vendor wants to fill this gap.  Bitmain could have been "The One", and apparently BenTuras has the scoop (check main BM thread), but we're all apparently not yet worthy to get any updates.  

My group alone is sitting on a pile of cash for hardware (both for mining and sales), but we're not interested in the more-or-less prototype S1 units.  You've got folks like KNC who are bumping up requirements with high power/hashrate (instead of scaling out, a lesson the rest of the computer industry learned a long time ago), meanwhile there is a lack of any other decent shipping options means we're more apt to buy BTC and sit on it.  Chances are other people are going to grow tired of the constant bullshit in custom hardware and do the same.  No point in paying people for stuff that'll never ROI with less-than-professional being the basic standard for vendors. 

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[philipma1957]

yeah It has been really difficult watching and waiting for the gear...  I stayed on with bit coin due to an ability to make a few bucks with ebay sales. The a sic builders have started coking the golden goose to death.

[reactor]

I wonder if BITMAIN would rather take the risk of auctioning off 100-1000 unit U1's. Only big resellers can upfront the coin and set the retail market. I'm sure there will be a bidding war.

I also wonder if BITMAIN is waiting for cxminerboy to close this thread so they can get on with business. The shunning of him is suspicious.

To me to use ROI, BTC, and miner in the same sentence no longer applies in the BTC world. Maybe never did. USB Erupters are still selling on eBay and USB Furies are still being preordered. Mining is mining. If the U1 comes out now it will sell as it is the best USB game in town.

What they need to do is set a fair price so people know they aren't getting f'd too hard on their markup and so there is room for the resale market.  This is the business side of hardware.  Price too high => resellers won't touch 'em, casual users won't touch 'em.  We're past the point of spree buying for the most part, AM was sure to drive the nails into that coffin when they owned the market for shipping hardware.  Now people understand that ROI is mainly a myth, but an achievable one in rare cases.  If BTC mining survives in any sense of the community you need low-priced, plug-n-play devices.  Try explaining to someone on eBay you have to start jacking a regular PSU to do this or that and you'll lose every sale.  BTC mining needs the aftermarket, but there has to be a first market to start things off.

Again - there is a giant, obscenely sized hole in the hardware market right now.  The casual user is sitting on cash but doesn't want to wait until Q2/2014 or even February for that matter.  Or they are looking at KNC with their "WTF" goggles since running a Neptune is out of reach without custom electrical being run.  Trust me, I wish my little group had more hardware manufacturing experience so we could just build our own devices and avoid places like this forum altogether.  But the AM gold rush was very, very good to us and we're looking to continue working with hardware in both mining and sales capacity.  Unfortunately, most vendors are either short-sighted or insanely greedy and this is why we're now sitting on over $10k that may just be converted into BTC today with the current pricing fluctuations.  No reason to hold off to purchase from Bitmain if they can't even respond to their sanctioned reseller for the U1's.

Hope this story ends a little rosier, but lacking faith.

[Stinky_Pete]

I wonder if BITMAIN would rather take the risk of auctioning off 100-1000 unit U1's. Only big resellers can upfront the coin and set the retail market. I'm sure there will be a bidding war.

I also wonder if BITMAIN is waiting for cxminerboy to close this thread so they can get on with business. The shunning of him is suspicious.

I think the simplest explanation is that BITMAIN have been unable to produce the USB miner in volume (my guess, no insider knowledge).

[philipma1957]

I wonder if BITMAIN would rather take the risk of auctioning off 100-1000 unit U1's. Only big resellers can upfront the coin and set the retail market. I'm sure there will be a bidding war.

I also wonder if BITMAIN is waiting for cxminerboy to close this thread so they can get on with business. The shunning of him is suspicious.

To me to use ROI, BTC, and miner in the same sentence no longer applies in the BTC world. Maybe never did. USB Erupters are still selling on eBay and USB Furies are still being preordered. Mining is mining. If the U1 comes out now it will sell as it is the best USB game in town.

What they need to do is set a fair price so people know they aren't getting f'd too hard on their markup and so there is room for the resale market.  This is the business side of hardware.  Price too high => resellers won't touch 'em, casual users won't touch 'em.  We're past the point of spree buying for the most part, AM was sure to drive the nails into that coffin when they owned the market for shipping hardware.  Now people understand that ROI is mainly a myth, but an achievable one in rare cases.  If BTC mining survives in any sense of the community you need low-priced, plug-n-play devices.  Try explaining to someone on eBay you have to start jacking a regular PSU to do this or that and you'll lose every sale.  BTC mining needs the aftermarket, but there has to be a first market to start things off.

Again - there is a giant, obscenely sized hole in the hardware market right now.  The casual user is sitting on cash but doesn't want to wait until Q2/2014 or even February for that matter.  Or they are looking at KNC with their "WTF" goggles since running a Neptune is out of reach without custom electrical being run.  Trust me, I wish my little group had more hardware manufacturing experience so we could just build our own devices and avoid places like this forum altogether.  But the AM gold rush was very, very good to us and we're looking to continue working with hardware in both mining and sales capacity.  Unfortunately, most vendors are either short-sighted or insanely greedy and this is why we're now sitting on over $10k that may just be converted into BTC today with the current pricing fluctuations.  No reason to hold off to purchase from Bitmain if they can't even respond to their sanctioned reseller for the U1's.

Hope this story ends a little rosier, but lacking faith.

 Yeah my profits just allowed me to buy 2 btc at 640 usd not that I wanted do but I have no product to buy. Oh for the days of 50-100 usb sticks from am being delivered to me 2, 3 ,4 times a week.  I have talked to so many of my ebay buyers.

 I am even force feeding myself lite coin mining  just for something to do.

[hasher87]

no price yet?

watching!

[bitterdog]

no price yet?

watching!

Nope just another promise that "THIS WEEKEND"  .. .. lol and then "Next weekend" .. and so on and so on

I think at this point our best hope is someone buying chips makes a unit, because it seems like Bitmain only wants the money from S1 units and not us U1 people.

[sushi]

I think they are going for the quality of U1 rather than early release with known bugs with lower GH and higher power consumption...

These manufactures have 1 chance to do it right

My guess is U1 will hit faster than someone else buying the chips and making something smiler.  I will update you on the U1.  May be another trip to China for a good dim sum in the morning;D

They did have the U1 a little over a month ago when I took a trip there...  It wasn't an empty promises

They have a group of dedicated engineers who always shoot higher in quality. 

no price yet?

watching!

Nope just another promise that "THIS WEEKEND"  .. .. lol and then "Next weekend" .. and so on and so on

I think at this point our best hope is someone buying chips makes a unit, because it seems like Bitmain only wants the money from S1 units and not us U1 people.

[demoniccat]

no price yet?

watching!

Nope just another promise that "THIS WEEKEND"  .. .. lol and then "Next weekend" .. and so on and so on

I think at this point our best hope is someone buying chips makes a unit, because it seems like Bitmain only wants the money from S1 units and not us U1 people.

Seems like a dog and pony show.

But yes, thinking they are interested in sales of S1 and not the lil U1 people.

[cxboyminer]

no price yet?

watching!

Nope just another promise that "THIS WEEKEND"  .. .. lol and then "Next weekend" .. and so on and so on

I think at this point our best hope is someone buying chips makes a unit, because it seems like Bitmain only wants the money from S1 units and not us U1 people.

Seems like a dog and pony show.

But yes, thinking they are interested in sales of S1 and not the lil U1 people.

Bitmain had a technical problem. They said they will start selling in a week.

Im kind of regret accepting paypal because of a need of a platform to exchange paypal to bitcoin and paypal fees.

[klintay]

no price yet?

watching!

Nope just another promise that "THIS WEEKEND"  .. .. lol and then "Next weekend" .. and so on and so on

I think at this point our best hope is someone buying chips makes a unit, because it seems like Bitmain only wants the money from S1 units and not us U1 people.

Seems like a dog and pony show.

But yes, thinking they are interested in sales of S1 and not the lil U1 people.

Bitmain had a technical problem. They said they will start selling in a week.

Im kind of regret accepting paypal because of a need of a platform to exchange paypal to bitcoin and paypal fees.

you can ask the buyer to pay the paypal fee when they purchase

[cxboyminer]

you can ask the buyer to pay the paypal fee when they purchase

But I'm still struggling to find a guy / exchange that accepts paypal, not virwox.

edit: I could use localbitcoins... not sure.

[Jeffrey]

you can ask the buyer to pay the paypal fee when they purchase

But I'm still struggling to find a guy / exchange that accepts paypal, not virwox.

I've been looking for this as well but never found one. I think many are afraid for chargeback protections

[cxboyminer]

you can ask the buyer to pay the paypal fee when they purchase

But I'm still struggling to find a guy / exchange that accepts paypal, not virwox.

I've been looking for this as well but never found one. I think many are afraid for chargeback protections

I never chargeback. I am 100% positive paypal / ebayer.

[reactor]

you can ask the buyer to pay the paypal fee when they purchase

But I'm still struggling to find a guy / exchange that accepts paypal, not virwox.

I've been looking for this as well but never found one. I think many are afraid for chargeback protections

I never chargeback. I am 100% positive paypal / ebayer.

It is a big hassle.  I've sold via Paypal for BTC-related things in the past before, but only because we had the same bank account linked to Paypal, Coinbase, and Payza (so Gox, BTCe, and regular BTC covered).  The biggest problem is the time it takes to xfer cash between banks or from banks to services.  Even then you worry that one link of the chain will break for some reason and cash is stuck in limbo.  Learned our lesson, though, Capital One closed our account without notice and now we have to physically move cash from one bank to another to maintain using those services.  PITA.

Next diff increase is going to hit like a hammer (sorry, S1 customers), so small, cheap devices are needed... like now.  Nobody wants to plunk $2-$4k down on something that'll be producing > 30% less than the day they order it...

Hope good news around the U1 comes through you / you get something for all your efforts here, cxboyminer.  Still hoping to buy, but I'll be honest our buying power went down decently as we picked up some cheap BTC yesterday rather than wait for U1 news. 

[merv77]

you can ask the buyer to pay the paypal fee when they purchase

But I'm still struggling to find a guy / exchange that accepts paypal, not virwox.

edit: I could use localbitcoins... not sure.

I can't believe you this for free, and at same time making bitmain a millionaire virtually over night.   
got me baffled how you even want to do all this work for nothing.

[cxboyminer]

you can ask the buyer to pay the paypal fee when they purchase

But I'm still struggling to find a guy / exchange that accepts paypal, not virwox.

edit: I could use localbitcoins... not sure.

I can't believe you this for free, and at same time making bitmain a millionaire virtually over night.   
got me baffled how you even want to do all this work for nothing.

What do u mean by this?

[merv77]

you can ask the buyer to pay the paypal fee when they purchase

But I'm still struggling to find a guy / exchange that accepts paypal, not virwox.

edit: I could use localbitcoins... not sure.

I can't believe you this for free, and at same time making bitmain a millionaire virtually over night.   
got me baffled how you even want to do all this work for nothing.

What do u mean by this?

seriously, why would you do all this work for nothing in return.

there are buyers here willing to buy in bulk, if you're like the rest of us why not just let bitmain worry about selling them to whoever wants to buy including yourself and then you wouldn't have to ask people for their eBay rating, and worry about converting to bitcoins for bitmain etc, etc.

just let bitmain do the work.  relax dude you shouldn't have all this pressure... for what?

there are buyers interested, there is bitmain who wants to sell, it's simple.

and another thing if you did accept paypal which IMO is a risk, why not just use bitmains paypal email address and cash goes directly to him. no need to convert to BTC and at the same time the risk is on him? 
and really what is he going to do with BTC especially with recent news in China.

[cxboyminer]

you can ask the buyer to pay the paypal fee when they purchase

But I'm still struggling to find a guy / exchange that accepts paypal, not virwox.

edit: I could use localbitcoins... not sure.

I can't believe you this for free, and at same time making bitmain a millionaire virtually over night.   
got me baffled how you even want to do all this work for nothing.

What do u mean by this?

seriously, why would you do all this work for nothing in return.

there are buyers here willing to buy in bulk, if you're like the rest of us why not just let bitmain worry about selling them to whoever wants to buy including yourself and then you wouldn't have to ask people for their eBay rating, and worry about converting to bitcoins for bitmain etc, etc.

just let bitmain do the work.  relax dude you shouldn't have all this pressure... for what?

there are buyers interested, there is bitmain who wants to sell, it's simple.

and another thing if you did accept paypal which IMO is a risk, why not just use bitmains paypal email address and cash goes directly to him. no need to convert to BTC and at the same time the risk is on him? 
and really what is he going to do with BTC especially with recent news in China.

Bitmain only accepts bitcoin.

<will edit here when i use my computer to answer your questions>

[merv77]

you can ask the buyer to pay the paypal fee when they purchase

But I'm still struggling to find a guy / exchange that accepts paypal, not virwox.

edit: I could use localbitcoins... not sure.

I can't believe you this for free, and at same time making bitmain a millionaire virtually over night.   
got me baffled how you even want to do all this work for nothing.

What do u mean by this?

seriously, why would you do all this work for nothing in return.

there are buyers here willing to buy in bulk, if you're like the rest of us why not just let bitmain worry about selling them to whoever wants to buy including yourself and then you wouldn't have to ask people for their eBay rating, and worry about converting to bitcoins for bitmain etc, etc.

just let bitmain do the work.  relax dude you shouldn't have all this pressure... for what?

there are buyers interested, there is bitmain who wants to sell, it's simple.

and another thing if you did accept paypal which IMO is a risk, why not just use bitmains paypal email address and cash goes directly to him. no need to convert to BTC and at the same time the risk is on him? 
and really what is he going to do with BTC especially with recent news in China.

Bitmain only accepts bitcoin.

<will edit here when i use my computer to answer your questions>

hey cxboyminer,

don't stress you don't have to answer these questions to me.  they are for you to think about and answer to yourself.
I hope you get this sorted and it works out good for you. 

If bitmain wants to be more transparent and give everyone more updates on progress, problems or no problems would be a step in the right direction.

Cheers
merv77