Looking for 1-3 people for a KNCMiner Neptune Group Buy

[the_joey_o]

Hey everybody,
I'm looking for 1-3 people to go in a KNCMiner Neptune with me and theGECK. The unit costs $9995. Here are the specs for the unit:
Neptune is our first 20nm product and will be shipping in Q1/Q2 of 2014.
The stats and performance that we can release today are Minimum 3000GH/s of hashing speed that 3TH Over 5 times the speed of our first Jupiter release (we reserve the right to increase this as we get closer to shipment)
A 30% reduction in watts per GH
Based on the existing Jupiter design (See photo, however this may change as development progresses)
Shipment begins in Q1/Q2 of 2014
Bitcoins first ever 20nm miner bought to you form the company who shipped the first 28nm bitcoin miner
Limited batch of 1200 units,
Existing customers only can buy at this price other batches will be released later to non-existing customers at a higher price.
These items will be on sale for two weeks at this price or until it has sold out whichever comes first
Payment for this product is bitcoins and bank transfer only.
All refunds will be refunded in dollars and you can refund up to shipment

Here's our terms:
We'd like to split it evenly with whomever would like to go in with us (limited to a maximum of 5 people including theGECK and myself), minus a .5% management fee. The hardware will be insured, run on a surge-protected battery-backup. I do IT support for a living (my company is Rommy IT www.rommyit.com), so I know my way around computer equipment. We will decide the pool to use after everybody has signed up. Cost for any extra needed equipment (power supply, APC surge protector / battery backup) will be deducted from the first payout. Cost for electricity will be deducted from all payouts. Payouts will be distributed once per month. Those who are interested can either post here or PM me.

Thanks!

[1714863691]

1714863691

[the_joey_o]

Well, the price of BTC went up to the point where we could afford to buy it on our own. The item has been ordered, and we're still interested in dividing the spoils, if anyone's interested.

[the_joey_o]

Okay. So, I did the math:
We're selling up to 3 shares.
Each share is worth 19.9% of the mining profits (profits are the total mined BTC, minus the expenses listed in the first post).
Each share costs $2023.034 USD (payable in the equivalent amount of BTC as set by bitpay). (The total cost of the miner, with shipping and everything was $10,166.)

[the_joey_o]

All shares come with 1/5 voting right.

TheGECK and I have decided to buy back 1 of the 3 shares.

If we do not have a buyer within 48 hours, we will be closing the sale.

[TheJuice]

Hey everybody,
I'm looking for 1-3 people to go in a KNCMiner Neptune with me and theGECK. The unit costs $9995. Here are the specs for the unit:
Neptune is our first 20nm product and will be shipping in Q1/Q2 of 2014.
The stats and performance that we can release today are Minimum 3000GH/s of hashing speed that 3TH Over 5 times the speed of our first Jupiter release (we reserve the right to increase this as we get closer to shipment)
A 30% reduction in watts per GH
Based on the existing Jupiter design (See photo, however this may change as development progresses)
Shipment begins in Q1/Q2 of 2014
Bitcoins first ever 20nm miner bought to you form the company who shipped the first 28nm bitcoin miner
Limited batch of 1200 units,
Existing customers only can buy at this price other batches will be released later to non-existing customers at a higher price.
These items will be on sale for two weeks at this price or until it has sold out whichever comes first
Payment for this product is bitcoins and bank transfer only.
All refunds will be refunded in dollars and you can refund up to shipment

Here's our terms:
We'd like to split it evenly with whomever would like to go in with us (limited to a maximum of 5 people including theGECK and myself), minus a .5% management fee. The hardware will be insured, run on a surge-protected battery-backup. I do IT support for a living (my company is Rommy IT www.rommyit.com), so I know my way around computer equipment. We will decide the pool to use after everybody has signed up. Cost for any extra needed equipment (power supply, APC surge protector / battery backup) will be deducted from the first payout. Cost for electricity will be deducted from all payouts. Payouts will be distributed once per month. Those who are interested can either post here or PM me.

Thanks!

Okay. So, I did the math:
We're selling up to 3 shares.
Each share is worth 19.9% of the mining profits (profits are the total mined BTC, minus the expenses listed in the first post).
Each share costs $2023.034 USD (payable in the equivalent amount of BTC as set by bitpay). (The total cost of the miner, with shipping and everything was $10,166.)

Let this be the public record that I have agreed to purchase 1 share of this group buy, which is equal to 19.9% of all mining revenue (minus electricity and other costs directly related to this miner).

the_joey_o has indicated he would like payment at 16bH8VuvsXNoQcBsGXtCAo66wSk3ipQDmF. Once the_joey_o confirms publically that he agree to the terms. I will send 2023.034 USD (in BTCs) at bitpay rates to that address.

I will be receiving payments at 14NhxJv51ffTwo42fXjLSq1mhN5YK2D9e6 which will serve as proof that I am being paid. My payment will NOT be coming from that address but multiple addresses.

Thanks,

TJ

Signed with my receiving address: HOU1E3WIMI6L2je5xmoor4qIkwJCQA34FdAbv8b0NwFIhMtHN7TGswM1RLYUXPxKxUeN2ginkW4QWTb 9kuF2d9s=

[the_joey_o]

I confirm the transaction with TheJuice where he receives19.9% of all mining revenue (minus electricity and other costs directly related to this miner).

I will take payment at 16bH8VuvsXNoQcBsGXtCAo66wSk3ipQDmF. Please send 2023.034 USD (in BTCs) at bitpay rates to that address.

TheJuice will receive payments at 14NhxJv51ffTwo42fXjLSq1mhN5YK2D9e6 which will serve as proof that he is being paid. His payment will NOT be coming from that address but multiple addresses.

Signed: G7XTgLfuU8jgUURctazDyoeoM5G4PNYw6m9TSQ4576Wfbk1+jDtgIUf8PI9WMJPj8gddWDw44M9mwspKKnIEX7M=

[TheJuice]

I confirm the transaction with TheJuice where he receives19.9% of all mining revenue (minus electricity and other costs directly related to this miner).

I will take payment at 16bH8VuvsXNoQcBsGXtCAo66wSk3ipQDmF. Please send 2023.034 USD (in BTCs) at bitpay rates to that address.

TheJuice will receive payments at 14NhxJv51ffTwo42fXjLSq1mhN5YK2D9e6 which will serve as proof that he is being paid. His payment will NOT be coming from that address but multiple addresses.

Signed: G7XTgLfuU8jgUURctazDyoeoM5G4PNYw6m9TSQ4576Wfbk1+jDtgIUf8PI9WMJPj8gddWDw44M9mwspKKnIEX7M=

Thanks! Payment sent: https://blockchain.info/tx/dc59b0adc026c0f05fb3fbd5198441182283430acde08c2b54843d0d27851caa

Hopefully this can be a profitable endeavor! The bitpay price was fluctuating in from 996-999 everytime I reloaded. I went toward the lower end and rounded up to get to 2.03.

Now all KNC needs to do is deliver!

[markyboy]

I am interested in purchasing the last share.  I want to confirm that there is still 1 share available.  If so, can you please provide me with the payment instructions?  Thank you.

[the_joey_o]

We are no longer accepting offers for the final share. There are three people in line for it. We will give the first person who requested the share a chance to sign on the forum and submit payment. If he fails to do so in a reasonable amount of time, he will forfeit the chance, and we'll move onto the next person. The second person will be given a similar chance, and so on. Right now, those three people are:
-The Gentleman who contacted me directly (he may want to remain anonymous)
-markyboy
-tal0n4

[markyboy]

Let this be the public record that I have agreed to purchase 1 share of this group buy, which is equal to 19.9% of all mining revenue (minus electricity and other costs directly related to this miner).

the_joey_o has indicated he would like payment at 16bH8VuvsXNoQcBsGXtCAo66wSk3ipQDmF. Once the_joey_o confirms publicly that he agree to the terms. I will send 2023.034 USD (in BTCs) at bitpay rates to that address.

I will be receiving payments at 19Qh3eogaYnc57DeMKD4EzFXQe7QXMKwBJ which will serve as proof that I am being paid.  My payment will NOT be coming from that address.

Thanks,
Markyboy



Signed: G05wodhUqP5NqBUMDysq+Jw/FcYH9tgXjTAABJ69uOBgubYUWmDMt8zWXIphCbE6UFe9+cL7EnS/OkVLicY9iBY=

[the_joey_o]

I confirm the transaction with markyboy where he receives19.9% of all mining revenue (minus electricity and other costs directly related to this miner).

I will take payment at 16bH8VuvsXNoQcBsGXtCAo66wSk3ipQDmF. Please send 2023.034 USD (in BTCs) at bitpay rates to that address.

markyboy will receive payments at 19Qh3eogaYnc57DeMKD4EzFXQe7QXMKwBJ which will serve as proof that he is being paid. His payment will NOT be coming from that address but multiple addresses.

HL/vgySuDfu5sjwAkIf0V/JkNbz1KSIdS+4f05XNhiINcHO80G8R8+les1pRdJY3++hcYqF8Qa95rxEq7qhKS+8=

[markyboy]

Payment sent.  Bitpay rate was at $1015.8864 per BTC. 

Transaction id:  31ac0249923cbe394b3713d4afa661264687a1d697a44dbc6486b2819b786c83

Thanks!
Markboy

[the_joey_o]

Received! Thanks! All shares are sold!

[jduartedj]

Don't mean to bum you out but unless BTC stagnates The rig will only profit 10 BTC total, (3.3 each)

[dm8]

Don't mean to bum you out but unless BTC stagnates The rig will only profit 10 BTC total, (3.3 each)

by your reckoning,  double your investment... thats not good?

[theGECK]

Update (and closure) of this project:

Asked for refund of the KnC Miner, paid out to all people involved in the project. There was some share trading between members during the project, hence the reason TheJuice and Markyboy did not receive equal amounts. the.joey.o did not receive a USD payout, electing to keep the USD. Payouts to TheJuice and markyboy were given to their addresses listed in this thread.

Relevant Transaction IDs:
https://blockchain.info/tx/710d4776b8cb886713f89808c1ec9f8be00c1a05998ed9c8a149bff2b1ebfa09
https://blockchain.info/tx/710d4776b8cb886713f89808c1ec9f8be00c1a05998ed9c8a149bff2b1ebfa09
https://blockchain.info/tx/fefef4289224d97e1b99a32c2737983805d40c94eb984ae7ffbc967388b610f0

This post is done for the ability to reference in the future. the.joey.o, TheJuice, and Markyboy were great to work with, despite problems we had during the process. I would definitely do business with them again.

For my future reference when I look back at this thread thinking "boy a group buy would be a fun thing to do", and to anybody else reading, it's a lot more work than you think it will be. Especially if you're running into the issue of verifying your identity to convert fiat into BTC.

[markyboy]

I confirm theGeck posting is true.  I have received a full refund from this group buy as we decided to ask for a refund from KNC.  Besides some hiccups on converting from fiat to BTC, TheGeck, the_joey_o, and TheJuice were all professional and a pleasure to do business with.

[TheJuice]

Update (and closure) of this project:

Asked for refund of the KnC Miner, paid out to all people involved in the project. There was some share trading between members during the project, hence the reason TheJuice and Markyboy did not receive equal amounts. the.joey.o did not receive a USD payout, electing to keep the USD. Payouts to TheJuice and markyboy were given to their addresses listed in this thread.

Relevant Transaction IDs:
https://blockchain.info/tx/710d4776b8cb886713f89808c1ec9f8be00c1a05998ed9c8a149bff2b1ebfa09
https://blockchain.info/tx/710d4776b8cb886713f89808c1ec9f8be00c1a05998ed9c8a149bff2b1ebfa09
https://blockchain.info/tx/fefef4289224d97e1b99a32c2737983805d40c94eb984ae7ffbc967388b610f0

This post is done for the ability to reference in the future. the.joey.o, TheJuice, and Markyboy were great to work with, despite problems we had during the process. I would definitely do business with them again.

For my future reference when I look back at this thread thinking "boy a group buy would be a fun thing to do", and to anybody else reading, it's a lot more work than you think it will be. Especially if you're running into the issue of verifying your identity to convert fiat into BTC.
[/quote

Confirm payment receives. Excellent and honest group to work with. In the end a 170% Roi in btc. +trust