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lynn_402
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May 22, 2014, 06:58:12 PM |
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Are you selling the 290x to group buy members? If so, how much for 1?
Yes, we have 7 290x's available. We will sell them @ .75BTC each to members (plus shipping). You can apply your shares toward this as well if you are interested. Is the income of the hardware sell divided amongst the "shareholder" ? Could you please answer this? |
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MWNinja (OP)
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May 22, 2014, 07:17:12 PM |
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Are you selling the 290x to group buy members? If so, how much for 1?
Yes, we have 7 290x's available. We will sell them @ .75BTC each to members (plus shipping). You can apply your shares toward this as well if you are interested. Is the income of the hardware sell divided amongst the "shareholder" ? Could you please answer this? Everyone here has had their shares bought back. We have no further obligation to the group, the sale of the hardware is for us to recoup some of the losses we incurred running this group. |
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howardb
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May 23, 2014, 08:53:31 PM |
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Are you selling the 290x to group buy members? If so, how much for 1?
Yes, we have 7 290x's available. We will sell them @ .75BTC each to members (plus shipping). You can apply your shares toward this as well if you are interested. Is the income of the hardware sell divided amongst the "shareholder" ? I've not seen any justification for the figure. The whole GB process has been shown to have used questionable (nicest interpretation) judgement, and dodgy (again kindest description) ethics. Until I see the whole story on this AND the math, MWNinja goes on negative trust. |
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lynn_402
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May 23, 2014, 08:59:10 PM |
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Everyone here has had their shares bought back. We have no further obligation to the group, the sale of the hardware is for us to recoup some of the losses we incurred running this group.
Didn't the hardware belong to the shareholders? Everyone involved here has had losses, it seems unfair that you are the one that gets the most recoup. Unless there's some fine prints in the OP that I missed. |
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spazzcat
Newbie
 Offline
Activity: 57
Merit: 0
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May 24, 2014, 12:49:14 AM |
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Everyone here has had their shares bought back. We have no further obligation to the group, the sale of the hardware is for us to recoup some of the losses we incurred running this group.
Didn't the hardware belong to the shareholders? Everyone involved here has had losses, it seems unfair that you are the one that gets the most recoup. Unless there's some fine prints in the OP that I missed. Yeah, I am pretty much done with group buys, I lost on every one of them i did, serval by questionable actions by the group organizer. The only thing I have made money off of is PETA.... |
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howardb
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May 24, 2014, 03:24:57 PM |
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Everyone here has had their shares bought back. We have no further obligation to the group, the sale of the hardware is for us to recoup some of the losses we incurred running this group.
Didn't the hardware belong to the shareholders? Everyone involved here has had losses, it seems unfair that you are the one that gets the most recoup. Unless there's some fine prints in the OP that I missed. Yeah, I am pretty much done with group buys, I lost on every one of them i did, serval by questionable actions by the group organizer. The only thing I have made money off of is PETA.... Ditto, PETA seems to be the only one being done on a truly professional basis. PETA 40% gain so far for me, MWNinja 50% loss/theft! KNCMiner failed to deliver 1 month late, DZ Miners coop (Black Arrow group buy) failed to deliver 3 months late. |
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MWNinja (OP)
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May 28, 2014, 03:09:36 AM |
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Fine print was y'all was supposed to all pay hosting fees if the BTC earnings didn't cover it. Very very few did, so it put us in a bad predicament. Plus the DC fucked us over, turned everything off, fired my partner. Then held all the gear hostage, we spent $3k with a lawyer to get it out. At that point we had a BTC offer for all the ASIC gear from a private investor, and nowhere to power it so we liquidated it out and bought back the shares. Per the contract, the failure to pay hosting should have resulted in a forfeiture, but we did better than that and bought out at market value of the ANTs for QTY on hand. Investor didn't want the VGA cards so they are just sitting here. Had I not paid for the lawyer there would have been 0 returned. We aren't done with the legal predicament here, so I think its plenty fair that the sale of that hardware help cover our operating losses first. But theres really no market for VGA right now so I just have a big credit card bill. Yeah it sucks when things don't work out and the market goes the wrong way; I totally put my heart into this effort and more work than you could ever imagine and now have 1/4 the number of bitcoin I started with. We are letting those that redeemed for hardware (meeting their obligations) from this group buy participate in the bonus group buy. We'll also consider letting those that took the buyback participate (on a limited case-by-case basis) if they return the buyback btc. https://bitcointalk.org/index.php?topic=624701.0 |
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sf2
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May 28, 2014, 06:37:37 AM
Last edit: October 12, 2014, 09:34:11 PM by sf2 |
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lynn_402
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May 28, 2014, 02:58:25 PM |
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Fine print was y'all was supposed to all pay hosting fees if the BTC earnings didn't cover it. Very very few did, so it put us in a bad predicament. Plus the DC fucked us over, turned everything off, fired my partner. Then held all the gear hostage, we spent $3k with a lawyer to get it out. At that point we had a BTC offer for all the ASIC gear from a private investor, and nowhere to power it so we liquidated it out and bought back the shares. Per the contract, the failure to pay hosting should have resulted in a forfeiture, but we did better than that and bought out at market value of the ANTs for QTY on hand. Investor didn't want the VGA cards so they are just sitting here. Had I not paid for the lawyer there would have been 0 returned. We aren't done with the legal predicament here, so I think its plenty fair that the sale of that hardware help cover our operating losses first. But theres really no market for VGA right now so I just have a big credit card bill. Yeah it sucks when things don't work out and the market goes the wrong way; I totally put my heart into this effort and more work than you could ever imagine and now have 1/4 the number of bitcoin I started with. We are letting those that redeemed for hardware (meeting their obligations) from this group buy participate in the bonus group buy. We'll also consider letting those that took the buyback participate (on a limited case-by-case basis) if they return the buyback btc. https://bitcointalk.org/index.php?topic=624701.0Thanks for your answer. I lacked this information, it does seem more fair now. Good luck on your next projects. |
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spazzcat
Newbie
Offline
Activity: 57
Merit: 0
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May 28, 2014, 08:27:01 PM |
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Fine print was y'all was supposed to all pay hosting fees if the BTC earnings didn't cover it. Very very few did, so it put us in a bad predicament. Plus the DC fucked us over, turned everything off, fired my partner. Then held all the gear hostage, we spent $3k with a lawyer to get it out. At that point we had a BTC offer for all the ASIC gear from a private investor, and nowhere to power it so we liquidated it out and bought back the shares. Per the contract, the failure to pay hosting should have resulted in a forfeiture, but we did better than that and bought out at market value of the ANTs for QTY on hand. Investor didn't want the VGA cards so they are just sitting here. Had I not paid for the lawyer there would have been 0 returned. We aren't done with the legal predicament here, so I think its plenty fair that the sale of that hardware help cover our operating losses first. But theres really no market for VGA right now so I just have a big credit card bill. Yeah it sucks when things don't work out and the market goes the wrong way; I totally put my heart into this effort and more work than you could ever imagine and now have 1/4 the number of bitcoin I started with. We are letting those that redeemed for hardware (meeting their obligations) from this group buy participate in the bonus group buy. We'll also consider letting those that took the buyback participate (on a limited case-by-case basis) if they return the buyback btc. https://bitcointalk.org/index.php?topic=624701.0Thanks for your answer. I lacked this information, it does seem more fair now. Good luck on your next projects. Did we missed this info, or is this the first we are hearing this??? |
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lynn_402
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May 28, 2014, 08:39:28 PM |
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Did we missed this info, or is this the first we are hearing this???
These problems were indeed mentioned on post #76 and #79 of the share information thread: https://bitcointalk.org/index.php?topic=491659.60However, it was not quite clear what caused that in the first place. |
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spazzcat
Newbie
Offline
Activity: 57
Merit: 0
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May 28, 2014, 08:57:32 PM |
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Did we missed this info, or is this the first we are hearing this???
These problems were indeed mentioned on post #76 and #79 of the share information thread: https://bitcointalk.org/index.php?topic=491659.60However, it was not quite clear what caused that in the first place. I see, I've been only watching threads of the group buys... |
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