[WTS] Avalon Batch #2 (auction)

[ProfMac]

I am selling 1 used Batch #2 Avalon at auction.

• The auction will run through about Dec 30, so it will be a purchase made in 2013.
  
• This is a blockchain auction.  To bid, you submit payments to 1JE7PkQSHEy66n3dHAqxJC62aBKzUmWMhz
  
• To be considered, your bid must be included in or before block 277700.
  
• Only send from an address that you control and can sign messages from.
  
• To increase your bid, pay more money with the same from & to addresses.
  
• If your payment comes from several addresses, your total bid will be pro-rated to each address. 
  
• I will refund all non-winning bids in full.
  
• The refunds will go to the address that they were received from.  Do not use mixers, or pay from exchanges.
  
• There is no minimum bid.
  
• I reserve the right to cancel the auction for any or no reason at all.
  
• You can't tell whether I bid or not.  Assume your own the worst case scenario and bid accordingly.
  
• The blockchain.info wallet is very helpful in setting up payments for this auction.  Bitcoin-qt requires a bit of advanced knowledge to work correctly, as it likes to use a lot of addresses.
  
• Proof & performance of the miner can be monitored online
  
• I have held a similar auction in the past.
  
• I have never shipped outside the US.  Please think carefully before bidding from afar.  The item is in Minnesota.
  
• In case of tie bids, the bid with the latest (largest block number, or largest transaction number) of the last payment loses.
  

[User705]

Original power supply?  OC or not?  Can you give a more exact end date please.  When you say you reserve the right to cancel the auction does that apply after bids as well?

[ProfMac]

Original power supply?  OC or not?  Can you give a more exact end date please.  When you say you reserve the right to cancel the auction does that apply after bids as well?

1. Original power supply.

2. The eligius link shows the mining with three different scenarios. 
  a.  Original firmware. (300 MHz) 
  b.  Kolivas August software. (--avalon-auto, about 350 MHz) 
  c.  Kolivas November software.  (--avalon-auto, about 350 MHz)

3. I give an exact ending block, and I will not give an exact end time.  I notice that a large number of auctions have people who bid at the last minute, and disagreements arise as to the time the bids were actually made.  It is very difficult to resolve those auctions without hard feelings.  However, it is clear to everyone whether a bid transaction makes it by the last block. 

At the present time, blocks are running about every 8:25 (8.437 minutes) so you can refine your own estimate as the block approaches.

4. Yes, until I ship the unit, I have the right to return any or all bids for any or no reason.  On the other hand, I do not have a minimum bid.  Barring blizzards & loss of internet, I expect to have all non-winning bids returned by Jan 1, 2014.

......

I may decide to mine some alt coins with the miner while I have it, so please don't be concerned if the eligius changes hash rate, or even goes completely dark.

[User705]

Sorry I spaced out with the block end.  BTW very good way of doing end time for auctions.  To be clear you still may not ship and simply refund even if there is a top bidder by end of auction.

[ProfMac]

To be clear you still may not ship and simply refund even if there is a top bidder by end of auction.

Yes. 

I had the very same type of language in my other auction.  This language is very important.

For example, that auction was for 10 winners, the 10 top bids.  A bidder wanted to corner many of the top bids, but he placed a single large bid for the amount.

I was out of town, so there was some drama in the auction thread for a day or so that was not helpful to him, me, or other bidders.

I refunded his blunder-bid in it's entirety using the "any time, any reason" rule, to keep the interpretation of the auction chain clear to everyone, and I allowed him to make another, more reasonable bid. 

[ProfMac]

About 12 hours left.

[Walking Glitch]

I have bid .02BTC from this: 1LHvBPTshZ6cD79wWM2KvtTFWTBJExHj3a address. It's a blockchain.info wallet. I feel bad for the bid amount being so small, so upon receiving the miner, and verifying that it works for a few hours, I will send another 0.15BTC to ProfMac if he will take it. (It's what I have atm.)

[Walking Glitch]

I have sent my shipping details to ProfMac. Awaiting reply.

[ProfMac]

The high bid was 0.01 BTC, currently worth about $14.75.  I have decided to cancel the auction, I have refunded the bids, please see TXid da2f7ddb380072d93fecd6dbf476cefd17ba27af1630e531dffabeb2e2e87500.

I believe the current price for an Avalon should be about 2.0 --- 2.5 BTC.

[Walking Glitch]

So much for "no minimum bid." Meh. I understand you said you reserve the right to cancel the auction at any time for any reason, but the auction already ended. This shit doesn't work in the real world. As far as this goes, you've wasted everyone's time, thanks.

Also, you're unlikely to get more than about .7 BTC for it, as it will never earn more than .7 in its lifetime.

My offer still stands for .21 using escrow if you want to get rid of it.

Also, true to his word, ProfMac did refund the bids, so it's not a scam.

[Blazed]

lol @ 2.5 for an Avalon

[ProfMac]

The situation is more complicated than I initially revealed.  I sold shares in the Batch #2 miner that I bought last February 18, and I have been making weekly payouts.  As the end of the year is approaching, and the value of the miner diminished, I wanted to offer my shareholders a reasonable buy-back offer this tax year.

To learn the value, I bought an identical miner last week for 2.359 BTC in a straight up purchase.  That miner is in my possession and hashing.  The eligius log shows that miner, mining before I bought it, the 2 day shipping interval, and the increase in mining as I flashed it with updated firmware.  I intended to sell this miner at auction to learn the current value of my Feb. 18 miner, while at the same time keeping everything "squeaky clean" as far as what I was selling.  I hoped to have a reasonable arm's length value that was derived in a transparent manner to take back to my shareholders.  This auction-derived information might also benefit the entire community of buyers & sellers in the Avalon ecosystem.

While I was willing to take some loss in order to learn this reasonable auction value, I do not believe that the shareholders on the Feb. 18 miner, nor the IRS, nor anyone else following this auction, will accept a 0.02 BTC bid as reasonable, and so I have cancelled the block 277700 auction and refunded the funds.

Code:

4. Yes, until I ship the unit

I closely follow one of the mining projections. I am sure that profit motive people would not bid more than about 75% of those projections, while people who want to mine unused coins, or perhaps alt coins, may be willing to bid above those projections.  The Avalon might be retrofitted with mining modules using the 55 nm (gen 2) Avalon technology, and that also affects the valuation.  The auction will let the most optimistic of these people get the Avalon of their dreams.

[Walking Glitch]

I understand your position better now. I still stand by what I said, but I understand it now. Anyways, I ignored the "2013 purchase" thing because I'm not worried about the taxman. I should have read into that.