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Kapz786
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April 29, 2014, 10:18:37 AM |
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What will happen to the KnC shares for GB1. On 2 and 3, they are still available ?
For group one it was structured as a bonus for hosting customers only; we will run it to try to recoup some legal fees for the upcoming court battle with data center. Wouldn't it be possible to take the antminers out and move another GB in? Since you've got quite a lot already, so the next one will move into the datacenter instead of these ants. On the other hand, I have 4 shares in 2 and 3, I'd like to be able to profit a bit from the KNC's once they arrive. Plus I don't think selling them off this fast is a wise decision right now. This way it's a sure loss. He's pulled the antminers there's no options other than sell off or pay MORE money and get an antminer delivered. I still think those who sell off should get KnC profits no matter how minimal as we payed for it its not like it was free. We are effectively only getting money back from the antminers as the KnC is used to fund "legal" fees (so much for due diligence) |
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MWNinja (OP)
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April 29, 2014, 03:06:31 PM |
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MWNinja - I have 11 shares GB's 1 - 3 send the buyout to my address 18JGHZdn8D7NthJxjHcWQkENwcJ5NJEfdF should be BTC0.385
Processed. |
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MWNinja (OP)
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April 29, 2014, 03:17:34 PM |
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What will happen to the KnC shares for GB1. On 2 and 3, they are still available ?
For group one it was structured as a bonus for hosting customers only; we will run it to try to recoup some legal fees for the upcoming court battle with data center. Wouldn't it be possible to take the antminers out and move another GB in? Since you've got quite a lot already, so the next one will move into the datacenter instead of these ants. On the other hand, I have 4 shares in 2 and 3, I'd like to be able to profit a bit from the KNC's once they arrive. Plus I don't think selling them off this fast is a wise decision right now. This way it's a sure loss. The datacenter royally fucked us, someday I will be able to tell the whole story. They fired my partner that worked there, who has a wife and 3 kids. They held our hardware hostage and only through using a lawyer were we able to get access to it. We now have a shitload of hardware sitting here and are trying to wind things up as cleanly as possible. We need to do it fast obviously as sitting hardware makes no bitcoin. I know a few people are butthurt but we are trying to be as fair as possible and protect everyone's interests. |
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Flep182
Legendary
 Offline
Activity: 938
Merit: 1007
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April 29, 2014, 03:30:43 PM |
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What will happen to the KnC shares for GB1. On 2 and 3, they are still available ?
For group one it was structured as a bonus for hosting customers only; we will run it to try to recoup some legal fees for the upcoming court battle with data center. Wouldn't it be possible to take the antminers out and move another GB in? Since you've got quite a lot already, so the next one will move into the datacenter instead of these ants. On the other hand, I have 4 shares in 2 and 3, I'd like to be able to profit a bit from the KNC's once they arrive. Plus I don't think selling them off this fast is a wise decision right now. This way it's a sure loss. The datacenter royally fucked us, someday I will be able to tell the whole story. They fired my partner that worked there, who has a wife and 3 kids. They held our hardware hostage and only through using a lawyer were we able to get access to it. We now have a shitload of hardware sitting here and are trying to wind things up as cleanly as possible. We need to do it fast obviously as sitting hardware makes no bitcoin. I know a few people are butthurt but we are trying to be as fair as possible and protect everyone's interests. As I'm not part of this GB but am part of 2, 3 and 5, is it an idea to move this discussion to the general discussion thread? And is there an opportunity to continue running them elsewhere? As there are more datacenters than these fuckers I assume? |
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tripppn
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April 29, 2014, 10:23:59 PM |
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Go ahead and send the buyout for my 3 shares to 1C9XqRtSZG57yYXhJdn226AZvG6f7sbGFw
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“You can't be a real country unless you have a beer and an airline - it helps if you have some kind of football team, or some nuclear weapons, but in the very least you need a beer.”
― Frank Zappa
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MWNinja (OP)
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April 30, 2014, 12:53:28 AM |
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I've thought about this long and hard and we are going to do something special for the members of group buy #1 once this is all settled.
We will run the FrankenJup benefitting everyone that participated regardless of whether you took delivery or a buy back.
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tripppn
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April 30, 2014, 07:12:41 AM |
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I've thought about this long and hard and we are going to do something special for the members of group buy #1 once this is all settled.
We will run the FrankenJup benefitting everyone that participated regardless of whether you took delivery or a buy back.
SWEET! That's awesome news! How long will you run it you think? |
“You can't be a real country unless you have a beer and an airline - it helps if you have some kind of football team, or some nuclear weapons, but in the very least you need a beer.”
― Frank Zappa
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Delarock
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April 30, 2014, 02:26:05 PM |
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I've thought about this long and hard and we are going to do something special for the members of group buy #1 once this is all settled.
We will run the FrankenJup benefitting everyone that participated regardless of whether you took delivery or a buy back.
Thanks, anything is appreciated. It sucks that the markets are the way they are. Seems like you have a lot going and I hope it's all getting sorted out. |
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Tragter
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May 01, 2014, 10:46:31 AM |
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Are the buyouts for this GB send?
I received my buyout for GB2, GB3 and GB4 but not yet for this one.
Cheers
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xZork
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May 20, 2014, 03:44:39 AM |
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I've thought about this long and hard and we are going to do something special for the members of group buy #1 once this is all settled.
We will run the FrankenJup benefitting everyone that participated regardless of whether you took delivery or a buy back.
Any news on this? |
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MWNinja (OP)
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May 20, 2014, 07:26:10 AM
Last edit: May 20, 2014, 08:10:21 AM by MWNinja |
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Good news, we've found a new home for hosting miners and we've been installing stuff around the clock.
We're waiting on KNC to RMA a ton of broken boards and we've blown three power ($250) supplies due to various defective ASIC modules. We have to recover from this frankenJupiter nightmare and get enough hashes operational out of the broken mess of stuff we keep getting from KNC. I've literally spent every night at the data center trying to get these damn things to work, replacing ASIC boards, swapping cables and controllers. The problem is we pay for the space that is reserved for stuff out for RMA, so the already narrow margin gets eaten up. KNC is driving me crazy.
Anyhow we are going to start the bonus group buy this week, once UPS delivers the next replacement round. More artic silver...more zip ties to hold down the stupid heatsinks for which no mounting materials were included.
To avoid another group buy meltdown we are making changes on the structure going forward, hosting must be prepaid.
We will need to you confirm your participation in the bonus group buy, and prepay the hosting fees for the term for which you want to participate. There is no cost to participate in the bonus group buy (other than hosting fees), and you get one share for each share you had in group buy one, plus 10 shares for any redeemed miners shipped to you from groups #2 - #4. The hosting cost is set at $250/TH mo. By confirming your participating, you agree to lease the hashes for the number of months for which you prepay. At the end of the lease there is no further obligation or commitment on your our our behalf, and we retain the hardware. We guarantee to supply the hashes and/or replace the hardware to supply the hashes throughout the term of your lease.
Each share will represent 30GH worth of hashrate. These will be initially mining on Ghash.io, with autopayout based on ownership percentages. When our cloud service is ready, these will be converted to hashes provided there, and you all will be the first beta users.
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sf2
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May 21, 2014, 04:47:48 PM
Last edit: October 12, 2014, 09:33:57 PM by sf2 |
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gigacoiner
Member
Offline
Activity: 92
Merit: 10
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May 21, 2014, 05:05:28 PM |
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Hello, I want to confirm my participation in the bonus group buy. Can we prepay for each month instead of for the whole term? Not sure how long I would be interested in staying with many variables changing overtime. Thanks, We will need to you confirm your participation in the bonus group buy, and prepay the hosting fees for the term for which you want to participate. There is no cost to participate in the bonus group buy (other than hosting fees), and you get one share for each share you had in group buy one, plus 10 shares for any redeemed miners shipped to you from groups #2 - #4. The hosting cost is set at $250/TH mo. By confirming your participating, you agree to lease the hashes for the number of months for which you prepay. At the end of the lease there is no further obligation or commitment on your our our behalf, and we retain the hardware. We guarantee to supply the hashes and/or replace the hardware to supply the hashes throughout the term of your lease.
Each share will represent 30GH worth of hashrate. These will be initially mining on Ghash.io, with autopayout based on ownership percentages. When our cloud service is ready, these will be converted to hashes provided there, and you all will be the first beta users.
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MWNinja (OP)
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May 21, 2014, 10:20:42 PM |
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MWNinja,
Will GB#6 see a reduction in fees with the hosting move?
Thank you.
Group #6 is already enjoying the reduced fees for the new location and has from the beginning. Hello,
I want to confirm my participation in the bonus group buy.
Can we prepay for each month instead of for the whole term? Not sure how long I would be interested in staying with many variables changing overtime.
Thanks,
One payment for the full length of time you want to run for; when your term is up its finished (no option to renew or continue). I would recommend buying 4 months based on my (possibly flawed, but educated) projections. We're busily building away on our cloud interface using ruby on rails ~ once that is ready it will be our primary focus going forward. I'm sure many of you guys will be participating there ~ we're transitioning into that business model for this bonus group buy and ya'll will get to be beta testers. Depending on the number of participants there may be left over shares available as well, those will be prices at the buyback rate of .035 to keep everything fair. Perhaps a new thread is in order? |
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handburger
Newbie
Offline
Activity: 23
Merit: 0
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May 25, 2014, 12:17:27 AM |
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I'm a little confused as to what the hosting fee is, I have 2 shares from the group buys (1 from the first). How would I determine what my hosting fees would be?
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MWNinja (OP)
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May 25, 2014, 03:16:33 AM
Last edit: May 25, 2014, 06:33:24 PM by MWNinja |
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I'm a little confused as to what the hosting fee is, I have 2 shares from the group buys (1 from the first). How would I determine what my hosting fees would be?
Works out to around $8.50 a month per share. So for four months (30GH) 1 shares the total payment would be: 1 * 8.50 * 4 = $34 Please use the new thread and coinbase checkout to complete your registration. |
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FrankToil
Newbie
Offline
Activity: 20
Merit: 0
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May 25, 2014, 03:08:28 PM |
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Hey Ninja,
Once more into the breech:
FrankToil;
11 shares in GB#1;
Prepay Duration: 3 months;
Price (USD): (11shares)*(30GH/share)*(250USD/1000GH-month)*(3 month) = USD247.5
Price(BTC): (247.5 USD) * (1 BTC/575.66USD) = 0.42994128 BTC (Bitstamp price at 11:05 EDT 25 May 2014)
txid: 34771dfc8bc3e6fd35246b75accb5155ac012b79b73a46f5f250f6fb12b8e643-000
Good Luck, and thanks for all of the hard work!
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Hektek
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June 04, 2014, 08:05:37 PM |
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@MWNinja
there are a lot of informations flowing around, can you maybe tell me in short what i can do with my shares ?
I have bought the following shares :
1 Share Group Buy 4
1 Share Group Buy(private) 3
2 Shares Group Buy 2
1 Share Group Buy 1
The last time reading about your group buys is some time back, sorry for that.
Thanks in advance.
best regards
Hektek
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MWNinja (OP)
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June 04, 2014, 08:50:00 PM |
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@MWNinja
there are a lot of informations flowing around, can you maybe tell me in short what i can do with my shares ?
I have bought the following shares :
1 Share Group Buy 4
1 Share Group Buy(private) 3
2 Shares Group Buy 2
1 Share Group Buy 1
The last time reading about your group buys is some time back, sorry for that.
Thanks in advance.
best regards
Hektek
You get one bonus group buy share free for your group buy 1 share, just pay the hosting on it. You can buy up to 4 more shares of the bonus group buy for .035 per share (return the buyback). If you were to max out for 4 months it would look like: .035x4 + $8.50 * 5 * 4 months (using today's prices) = ~.4btc (150GH for 4 months, no additional fees). |
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