[OPEN] Free choice Group Buy 5/15 - ANY price over 0.01 is OK

[jduartedj]

Update:
The deadline has been reached. If nothing is said to prevent this during the next week the GB is OFF.

Update:
Due to unforeseen circunstances our escrow cannot comply:  escrow.ms
A new escrow will be nominated when the group clears.

Update:
For group viability this group has a deadline limit of 31-Dec-2013. If until then the group hasn't enough members it'll be OFF and every member will be refunded 100% (escrow fees still apply). Reserves are counted for this matter.

Update:
As of now we have an official escrow service for this group buy:  escrow.ms
Fee is 1%.

Update:
As of now I've opened an address for the group:
15eosdFfD6NcHuxcSh5KoS2wa3FGfSohyk
ALWAYS PM me if you wanna join/transfer, POSTing is also advised!


This is a free choice "democratic" group buy!
Meaning?
The machine purchased will be chosen by the group!
(and so will other decisions!)

Format:

Each member donates *ANY* amount of BTC (min 0.01 BTC) to the group (a specific address will be created), up to 15 members.
After the total sum of donations has been reached that value is used to buy the best possible Mining Machine.
For pre-statistics purpose I'll accept reserves with the intended donation in front like so: member_a (reserve) - 1BTC
Members are paid in direct proportion of the donation (donated/total funded), weekly.
ALL transactions are made TO/FROM the same address.
When the group is fully formed (15/15 with max 3 reserves) we will decide the gear to buy.

Update:
If a lot of small donations occur this change takes place:

• I'll allow for more members to join in increases of 10 or until a minimum total fund is reached
• I'll allow smaller donations to fulfill the gaps

Also be aware that a minimum total fund is implicit to buy a profitable machine.

Maintenance, Hosting and Tech:

Ordering is done by me. an escrow
Gear is hosted by me.
Maintenance and assembly is assured by me.
Power is paid by me.
EDIT: note: I have a degree in electronics. I'll provide fitable hosting for the equipment.

Warranty, refunds, fees:

The warranty is the one that the gear might have.
Refunds are allowed if: (Updated)
-- 1st week at 100% refund
-- the group disbands totally (over 75% at least) in the factor of 99% refund
-- the group disbands partially (more than 3 members) in the factor of 80% refund
-- single member drop out before End of year in the factor of 50% refund
-- member drop out before ordering the gear (in 2014) in factor of 25%
-- any drop outs after the order aren't refunded

My share of the group is fixed at 10% or 1BTC whichever is SMALLER.
If power consumption is high (depends on the machine) the power bill is paid by the earnings before payout.

I'm not liable for any problems with the order, but I'm fully responsable for all the gear AFTER it has arrived.
At every step I'll provide proof of transactions, ordering, hosting, etc...
Note: you can check every transaction of the the group's address on the blockchain.

Escrow fees are 1% (maximum), paid by the member so if you use escrow 1BTC only 0.99BTC will count towards purchase of equipment and donation value.

Dates:

Starting is on January 2014, February at most (might depend on the machine).
Mining will endure for 12 to 20 months depending on the profitability.
After 20 months it will still work for the group IF and ONLY IF it's profitability is avg. to high.

Payment:

Any one can pay in BTC (recommended for transparency)
Also accept:(PM me)

• SEPA transfers
• OKPAY
• EgoPay
• Payza
  

In this case I'll trade the currency to BTC and transfer to the group's address, this value will be your donation value (after fees of trading/transfer) as stated in block chain. (will provide proof always)
Refunds are subject to whatever middle-fees might apply.

ESCROW AVAILABLE: (to be appointed)
(see Escrows)

Trust and verification:

Using an escrow mediation of your choice I'll gladly send any documents for verification since I'm new (here).
My personal phone number, I'll answer texts +351 914315091, live in Portugal!
Full name: José Duarte de Sotto-Mayor Roumier Ribeirinho
Id Card Nr.: 12477849
Fiscal Nr. (NIF): 254414915
ESCROW AVAILABLE:
(see Escrows)

RESERVES START AS REPLY TO THIS POST AS OF NOW, PM ME IF YOU WANNA JOIN NOW

TOTAL SUM in reserve: 3.01BTC

[railzand]

Good idea.

railzand (reserve) 1BTC

[jduartedj]

*Anonymous* (reserve) 0.95BTC

[jduartedj]

C'mon people, no one else interested? 

[railzand]

We've nearly got enough for a ten pack of Prospero X-1's or whatever.

Who's the escrow to send my money to?

[jduartedj]

Who's the escrow to send my money to?

We're still negotiating the escrow responsible.

[jduartedj]

We now have officially confirmed escrow.ms as our group's escrow!

[SolarWindMiningCompany]

I support this post, similar to my original idea. Good luck!

[jduartedj]

I support this post, similar to my original idea. Good luck!

Thank you!

We need supporters, this isn't an easy format to run!

[SolarWindMiningCompany]

NP

[gavgav]

gavgav (reserve) 0.04BTC

[jduartedj]

gavgav (reserve) 0.04BTC

great

[jduartedj]

anyone else interested?

[JGAN]

90% level of interest... depends on how this goes.

[jduartedj]

90% level of interest... depends on how this goes.

what do You mean?

[JGAN]

90% level of interest... depends on how this goes.

what do You mean?

Sorry, let me rephrase. I can reserve 0.02BTC with the possibility of increasing if the group clears. Is that ok?

[jduartedj]

GREAT

[amer]

Can you give more of a description on the hosting facility you have and your experience with hosting hardware/uptime/SLA?

Escrow is great for trusting that you can do an exchange with someone, but providing a 24x7x365 high-availability computer service is a whole new ballgame. A degree in electronics is not the right skill set.

[jduartedj]

Can you give more of a description on the hosting facility you have and your experience with hosting hardware/uptime/SLA?

Escrow is great for trusting that you can do an exchange with someone, but providing a 24x7x365 high-availability computer service is a whole new ballgame. A degree in electronics is not the right skill set.

I've worked with a hosting company here in Portugal, I was in charge of hardware maintenance of a specific section. In spite of my degree in electronics (which helps a lot imho) I've worked closely with computers in IT and hardware and also some software.

[pkbudz]

Having a degree in electronics sure doesn't hurt, but i agree with amer; more info and elaboration on the facility/facilities you plan on running the mining rigs at (ie: security measures, power outage backup generators, contingency plans etc.) would be helpful in building more interest in this project.

Will anyone else be aiding in running this facility on-site besides yourself when it comes to troubleshooting, managing, etc etc this endeavour?