[SOLD OUT] Ninja Group Buy .35BTC=30GH - 30 ANTs + Day 1 Netpune [0/300]

[MWNinja]

Well Bad News and Worse News.

They delivered only the Group #1 FrankenJup.  Nearly every board is broken as they didn't secure the heatsinks properly for shipping.  We have opened a ticket with their support folks...

[dunchy]

un..fucking..believable ...

[sf2]

 

[Kapz786]

Well Bad News and Worse News.

They delivered only the Group #1 FrankenJup.  Nearly every board is broken as they didn't secure the heatsinks properly for shipping.  We have opened a ticket with their support folks...

Disaster WTF are they doing

[handburger]

Wow, that sucks.  Hopefully they can send out a replacement fast, but I'm thinking that's not going to to happen

Thanks for keeping us updated.

[MWNinja]

I've managed to cobble together 2TH worth out by doing repairs on some of the boards. Some of the others are too damaged, lifted pads, broken components.

[handburger]

I've managed to cobble together 2TH worth out by doing repairs on some of the boards. Some of the others are too damaged, lifted pads, broken components.

Thanks for doing what you can to keep this going.  Having to repair this hardware is definitely beyond the scope of the group buy, but I'm glad you did it.  Hopefully they'll ship out a full replacement soon.

[MWNinja]

I've managed to cobble together 2TH worth out by doing repairs on some of the boards. Some of the others are too damaged, lifted pads, broken components.

I spoke too soon, we are down to 1TH.  We have a bad board (not sure which one of 6) that is frying controller cards (cooking the FPGA on it). I hope KNC will make things right quickly.

[dunchy]

It's really disgusting, the extent to which asic manufacturers just don't give a shit about customers. You have a right to some retribution. if you can, please make it hard on them.

[tripppn]

How is it possible KnC hasn't fixed their shipping process.  This same thing happened the last time.

[MWNinja]

Unfortunately, this group can't continue to run unprofitably. The frankenjup came in broken - too little too late.

We are winding-up this group buy, as well as group buy #2, #3, and #4.

Process for taking delivery (if you have multiples of 10 shares):
PM me for an invoice for the $99 fee, and will reply with an email address for you to send the shipping labels to. You need to provide your own shipping labels.  I'll post the exact dimensions and weight in an update tomorrow.

If you pre-paid hosting, we will return your unused hosting payment at the bitstamp rate. Give us a couple of days to let the dust settle and we'll get it out.

If you have less than 10 shares or if you don't contact me for shipping arrangements; we are buying back the shares at .035 each. We will complete the buyback on May 1st for Group Buy #1 -Group Buy #4 so please get in touch before then.

[Kapz786]

Unfortunately, this group can't continue to run unprofitably. The frankenjup came in broken - too little too late.

We are winding-up this group buy, as well as group buy #2, #3, and #4.

Process for taking delivery (if you have multiples of 10 shares):
PM me for an invoice for the $99 fee, and will reply with an email address for you to send the shipping labels to. You need to provide your own shipping labels.  I'll post the exact dimensions and weight in an update tomorrow.

If you pre-paid hosting, we will return your unused hosting payment at the bitstamp rate. Give us a couple of days to let the dust settle and we'll get it out.

If you have less than 10 shares or if you don't contact me for shipping arrangements; we are buying back the shares at .035 each. We will complete the buyback on May 1st for Group Buy #1 -Group Buy #4 so please get in touch before then.

KNC are sending out new Frankenjupiters and we keep the old ones, it should make it sustainable for longer.

Majority of owners do not own multiples of 10 shares. When it's time for the GB to end the hardware that is not delivered to owners needs to be sold and shares divided between remaining owners

[MWNinja]

The buyback is effectively the liquidation of the hardware.  The amount per share is based on the current market value of what we have. 

Unfortunately, this group can't continue to run unprofitably. The frankenjup came in broken - too little too late.

We are winding-up this group buy, as well as group buy #2, #3, and #4.

Process for taking delivery (if you have multiples of 10 shares):
PM me for an invoice for the $99 fee, and will reply with an email address for you to send the shipping labels to. You need to provide your own shipping labels.  I'll post the exact dimensions and weight in an update tomorrow.

If you pre-paid hosting, we will return your unused hosting payment at the bitstamp rate. Give us a couple of days to let the dust settle and we'll get it out.

If you have less than 10 shares or if you don't contact me for shipping arrangements; we are buying back the shares at .035 each. We will complete the buyback on May 1st for Group Buy #1 -Group Buy #4 so please get in touch before then.

KNC are sending out new Frankenjupiters and we keep the old ones, it should make it sustainable for longer.

Majority of owners do not own multiples of 10 shares. When it's time for the GB to end the hardware that is not delivered to owners needs to be sold and shares divided between remaining owners

[Kapz786]

The buyback is effectively the liquidation of the hardware.  The amount per share is based on the current market value of what we have. 

Ok but that liquidation figure must not include the KNC hardware?

You are offering 0.035 per share so 10 shares = 1 Antminer S1.

You would be paying us 0.35 for an Antminer S1 which is around $150 USD. Realistically it could probably be sold for $250 - $300 USD per unit on places like Ebay.

Lets ignore that and call it even. Shares in the KNC should either be additional to the buy out or you should host the units and allow members who choose to liquidate to still get there payout share as that component has not been used in your liquidation figures

[MWNinja]

By the time we add the Paypal fees, chargebacks, packaging and labor we would get even less plus the market will continue to drop before they all sell...  The buyback is a more than fair offer, particularly as most shares would have been just relinquished for non payment of hosting.  We are dealing with a legal nightmare and shielding the group from any more liability. We have retrieved the hardware from the datacenter to prevent any further harm to the group from the datacenter's breach of contract. I haven't deducted a penny for legal expenses, which are now into the $3k range and going up.

If you want to keep your Neptune/FrankenJup position on Group #2 - Group #3, then redeem for hardware as that doesn't cause us to incur additional costs/labor.

The buyback is effectively the liquidation of the hardware.  The amount per share is based on the current market value of what we have. 

Ok but that liquidation figure must not include the KNC hardware?

You are offering 0.035 per share so 10 shares = 1 Antminer S1.

You would be paying us 0.35 for an Antminer S1 which is around $150 USD. Realistically it could probably be sold for $250 - $300 USD per unit on places like Ebay.

Lets ignore that and call it even. Shares in the KNC should either be additional to the buy out or you should host the units and allow members who choose to liquidate to still get there payout share as that component has not been used in your liquidation figures

[gigacoiner]

What will happen to the KnC shares for GB1.  On 2 and 3, they are still available ?

[MWNinja]

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.  The members that redeem Group #2 and Group #3 for hardware (fulfilling their obligation) will get their share of the KNC hardware (once it arrives).  If you don't have enough shares to redeem you can always "buy up" at the buyback price, effectively helping us out with the buyback.

Antminers dropped in price again today, so I apologize for the rush....but the matter is urgent to preserve value.

[Kapz786]

MWNinja - I have 11 shares GB's 1 - 3 send the buyout to my address 18JGHZdn8D7NthJxjHcWQkENwcJ5NJEfdF should be BTC0.385

[tripppn]

Makes me sad to see this group go down like this   

[Flep182]

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.