Friends,
I have purchased a November delivery of a KNC Jupiter Miner. As insurance against a rapidly rising difficulty I have decided to sell off 200 Ghash worth (20 Ghash per share) of mining power for 45 days.
PLEASE READ FOR EXACT DETAILS AS THIS IS SLIGHTLY DIFFERENT THAN MOST CONTRACTS.
Each share represents 20 Ghash of mining power, regardless of how much the Jupiter actually produces as long as it is > 400 Ghash. If the miner is < 400 Ghash I reserve the right to RMA it OR make each share worth 5% of total Ghash.
This is in case KNC delivers a terrible produce of say 300 ghash model (very unlikely).
The mining contract will start upon delivery, setting it up and hashing on a pool. It will last for exactly 45 days from the start of mining. If there is significant downtime > 1 day, this time will be added on to the 45 days.
As of now I plan to mine on ghash.io and will set your address as a shareholder, thus you will receive nearly continuous payments. However, given the changing landscape I reserve the right to change pools at anytime. In the case of pool switching, divs will be paid @ 15, 30 and 45 days.
And finally TheJuice's guarantee:
If you do not make a profit on this investment I will refund you 50% of your loss. Meaning if you pay 1 BTC and after 45 days you only make back .6 BTC, I will send you .2 BTCs. In the case on non-delivery I will refund 50% of your loss (remember I will have taken a big loss as well).
There is NO electricity fee. There is NO maintenance fee. This is pure 20 Ghash per share for 45 days with a mining guarantee.
Starting BID: 0.1 BTC per share
Increase: 0.01 BTC per BID
Reserve: 0.6 BTC per share (if highest bids are lower than reserve we will have a discussion and I'm still likely to sell).
I am open to escrow: The proposed terms would be it's held by escrow until either proof of miner being delivered or proof/public knowledge that KNC didn't ship. Buyer pays all fees.
FAQ:
Why only 45 days? With increasing difficulty most miners make the bulk of their profit in the first month. Having been part of many group buys, there is never an end game. 45 days allows a majority of the profit to be made, while also allowing shares to be purchased for cheap. In addition, I don't want this responsibility for ever!
Can I transfer shares: I will allow free share transfer. However upon transfer TheJuice's guarantee is NULL and VOID (it will be a pain to try and figure out how much to owe everyone).
The AUCTION will end in 5 days. Any additional bids will extend the bidding period by 1 hour.
Looking forward to a profitable endeavor.
