LTC group buy!

[superresistant]

jduartedj
Because of the realtive low cost of the rig.  You might want to come up with a way for people to invest.
For example break the $2000 cost into equal shares, offer them to the community, might consider a purchase limit because a single person can easily pay for it.
I am always looking to diversify my investment, even if its extremely small investments.  Have you ever ran a group buy before?

I'm thinking about doing a group myself. I can afford a place with unlimited free electricity but fixed 450€ per month as rent.

[jduartedj]

jduartedj

Because of the realtive low cost of the rig.  You might want to come up with a way for people to invest.

For example break the $2000 cost into equal shares, offer them to the community, might consider a purchase limit because a single person can easily pay for it.

I am always looking to diversify my investment, even if its extremely small investments.  Have you ever ran a group buy before?

I have realized that that is not the issue. I' using this post to gather as much information about the best group buy format to run.
Everything from the RIG to the target investors should be considered.

It's true I haven't ran any group buys before but I have participated in group investments in the past for other projects.

I have an ongoing Group Buy Post with a different format but as far as I have gathered only a small group is interested in this open format and that might cause it to drop before deadline.

unlimited free electricity but fixed 450€ per month as rent.

SR,

imho that is much more expensieve than my ~93€/month and might cost as much as renting some data center space. what about Internet connection? I have it free since it's shared with my home connection and it doesn't need much bandwidth.

[jduartedj]

Any one else interested in a group buy GPU rig for LTC or an investment in such rig?

[Stinky_Pete]

I might go for some shares in a GPU set-up. Depends on price of course.

I fold and can give you some free advice. Don't bother with trying to get 6 or 7 GPUs running, those rigs never last and need continuing baby-sitting. Create two 5 card machines if you need to. Your main outlay should be on the GPUs and their power supplies; board, processor, memory and HDD are not critical. Consider systems with dual power supplies feeding the cards - that may work out cheaper than a big PSU. There is a lot of information around from when people ran Bitcoin mining on GPUs. Make sure the GPUs have lots of space and fans nearby to supply cool air.

The room the rig is in will get hot. Take this into account.

[Stinky_Pete]

Actually, I voted to invest in developing an ASIC. Imagine the royalties... 

[Jsnow]

I'd be interested in a GPU group buy..depending on costs and setups.

[Lauda]

How much does the electricity cost in your area?
Do not buy 270 cards, get r9 280.

[jduartedj]

Update:

How much does the electricity cost in your area?
Do not buy 270 cards, get r9 280.

My power value is 0.13 per kw.h so in 24h 0.13*24 = 3.12€/day ~93.6€ per month ~ 3-4 LTC

Stinky_Pete,

I had realized that already, I'm probably going for 5 cards with 2 psu.
This post is exactly for probing the possibilities and finding the best investment!

I also voted investment but people are too skeptical.

Everyone,
 
As for costs/dates/setups etc:

atm I'm thinking core rig is
Motherboard
Asrock X79 Extreme4 (7x PCIe slots)

GPUs
5x VGA ASUS RADEON HD7770 1Gb DDR5 DVI DisplayPort - HD7770
(option to add 2 more)

Other components to be revised

Costs I'd say roughly 2000$ (max 2250$) per machine, initial investment is 1 machine

Dates: All I need is people interested imho ASAP should be the date!
I'm going on holidays so I have a lot of dedicated time to put to the rigging!
(aka NOW)

NOTE the setup is NOT final, It's still a work in progress and subject to changes like HD 7770 for R9 280 (for example)

[spud3861]

So investors need 10 BTC?

I would be interested if a smaller investment.

[jduartedj]

So investors need 10 BTC?

I would be interested if a smaller investment.

What!? NO!

2000$ ~ 2BTC (max)

FULL investment!

If 2 people were to invest it would be 1BTC each and so on....

[Stinky_Pete]

Just some ideas that need clarifying before you take peoples' money.  

Do you have backup power supply, internet etc? Physical security?

Is a share for a time limited or until the machine dies or is voted to sell?

I'd suggest much lower shares, to give people without much coin a way to join in. Perhaps one share 0.01BTC for 1/200th part of each machine. You would probably get some people putting in 0.1BTC or more.

Or price shares in $ so it's clear what is being spent (all in fiat), and patrons can look-up an exchange rate they like.

As you appear to be a relative newcomer, can I suggest you use an escrow account until you have enough to purchase a machine, and have your identity registered.

[sprinkles]

Would be interested in a small share. $200 or so.

[Lauda]

Everyone,
 
As for costs/dates/setups etc:

atm I'm thinking core rig is
Motherboard
Asrock X79 Extreme4 (7x PCIe slots)

GPUs
5x VGA ASUS RADEON HD7770 1Gb DDR5 DVI DisplayPort - HD7770
(option to add 2 more)

Other components to be revised

Costs I'd say roughly 2000$ (max 2250$) per machine, initial investment is 1 machine

Dates: All I need is people interested imho ASAP should be the date!
I'm going on holidays so I have a lot of dedicated time to put to the rigging!
(aka NOW)

NOTE the setup is NOT final, It's still a work in progress and subject to changes like HD 7770 for R9 280 (for example)

No this is wrong. Spending too much for the motherboard. Like I said go for the R9 280. The point is to get more hash for less money.

[jduartedj]

Everyone,
 
As for costs/dates/setups etc:

atm I'm thinking core rig is
Motherboard
Asrock X79 Extreme4 (7x PCIe slots)

GPUs
5x VGA ASUS RADEON HD7770 1Gb DDR5 DVI DisplayPort - HD7770
(option to add 2 more)

Other components to be revised

Costs I'd say roughly 2000$ (max 2250$) per machine, initial investment is 1 machine

Dates: All I need is people interested imho ASAP should be the date!
I'm going on holidays so I have a lot of dedicated time to put to the rigging!
(aka NOW)

NOTE the setup is NOT final, It's still a work in progress and subject to changes. . .
 

No this is wrong. Spending too much for the motherboard. Like I said go for the R9 280. The point is to get more hash for less money.

like I said, not final but the MB is only 180€ and some models of the r9 GO up to 600€

[jduartedj]

Just some ideas that need clarifying before you take peoples' money. 

Do you have backup power supply, internet etc? Physical security?

Is a share for a time limited or until the machine dies or is voted to sell?

I'd suggest much lower shares, to give people without much coin a way to join in. Perhaps one share 0.01BTC for 1/200th part of each machine. You would probably get some people putting in 0.1BTC or more.

Or price shares in $ so it's clear what is being spent (all in fiat), and patrons can look-up an exchange rate they like.

As you appear to be a relative newcomer, can I suggest you use an escrow account until you have enough to purchase a machine, and have your identity registered

 wow chill!
I do have power backup AND redundancy. This is a server room I'm using. Its located next door to me it has a doorlock and alarm system and its own ac.
I'm gathering peoples opinions so I can build a good rig, when I start the group buy I'll surely add all the details about the rig setup, server room and whatever else you need.

Will sell shares when I start the group buy, probably in € or BTC and Will have escrow.

[superresistant]

Like I told you in PM. It is not the right time to invest.

The price of BTC is going up after the little crash.

Best thing to do (that's what I am doing but you do what you want) :
Buy BTC (with €) -> Buy LTC (with BTC) at 0.03 -> Sell LTC (for BTC)at 0.04 -> Sell BTC at 1000€/BTC (and above)

That way you can almost double your investment in 2-4 weeks.

When my trade is done I can invest 10-20 BTC so you can do whatever you want.

Do you know about watercooling ? It is very effective if you consider multiple big double GPU like 5 x HD7990 in the same circuit.

[jduartedj]

Like I told you in PM. It is not the right time to invest.

The price of BTC is going up after the little crash.

Best thing to do (that's what I am doing but you do what you want) :
Buy BTC (with €) -> Buy LTC (with BTC) at 0.03 -> Sell LTC (for BTC)at 0.04 -> Sell BTC at 1000€/BTC (and above)

That way you can almost double your investment in 2-4 weeks.

When my trade is done I can invest 10-20 BTC so you can do whatever you want.

Do you know about watercooling ? It is very effective if you consider multiple big double GPU like 5 x HD7990 in the same circuit.

If the goal is LTC selling, then the sooner you invest in a rig the more Litecoins you'll have to sell!
Imho investment should be now, don't worry your spot is safe and even if You wanna invest a lot I might do solo rigs just for you!

Water cooling: Yes I do, Haven't used in a professional environment but I have used it in heavy duty gaming equipment. My room is cooled by it self so I'm gonna weigh whether to use regular or water cooling, might be able to reduce costs if plausible.

I'm writting down all options so that I might present them in full and get a decent general opinion on the best option.

[Tragter]

I'm interested in a small share like 0.5 BTC

[jduartedj]

I'm interested in a small share like 0.5 BTC

Great that is great, I see we now have some serious people wanting to invest.

In the next couple of days I'll probably post a Group buy resulting from this poll.

Format should be in 25 shares of 0.1BTC each (serious investors only) = 2.5BTC for the first rig, if the rig is cheaper the rest is returned or invested or goes for shares in the next machine.

[jduartedj]

Anyone else is interested in this investment?