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Author Topic: bitcoinminingmachines.co.uk -- hardware importer and retailer  (Read 15775 times)
studio1one
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January 27, 2014, 02:41:05 PM
 #1

Here we are, yet another hardware retailer. We'd like to think we are a little different though.

We have many years experience as an import and retail business, specialising in import from China. We have a good network of suppliers and agents in China who do our quality control for us. We are also keen miners. Obviously it would seem like madness, with so many ASIC now coming out of China to not combine the two for fun and profit.

This is early days and we have only just got the website up and are currently working on it. It's also a terrible time to launch as it is just into Chinese New Year holidays so we are struggling to get hands on stock at present. We have a shipment on its way in from HK at the minute, due in this week. After the holidays finish we will have a regular supply of various hardware and are working on deals with a few different suppliers

You can see them here on DHL

http://www.dhl.co.uk/content/gb/en/express/tracking.shtml?brand=DHL&AWB=6610981226%0D%0A



Here is a little more information about us

Bitcoin Mining Machines is a trading name of Indie Glow limited. We are a retailer of SHA and Scrypt mining hardware. We are aware of how hard it is to get a good reputation in these products due to the amount of poor quality transactions people have experienced with the likes of BFL and out and out scams. Here is our promise to you.

 

1. No Pre orders -- That means that if an item is showing in stock it is here in the UK in our offices. You can come and collect today if you wish. We don't hold stock  'in our China office' or  'with our partners'. We only advertise what is here now.

Our address is
2-4 Millyard
Wharfebank Business Centre
Otley
LS21 3JP

Customers are welcome to drop by anytime and inspect our machines, just let us know you are coming

Any questions happily answered and I will try not to take any flaming too seriously.

 

2. Secure payment options -- You are welcome to pay by Paypal but will need to add the 2.9% fee on for our Paypal charges, we must make an exception to orders collected from our offices, this is bank transfer BTC or cash only but you are welcome to fully inspect the machine hashing before taking it away. The reason we cannot offer Paypal for collections is that we have no proof of delivery if someone makes a not received claim. Sorry but it has to be like that. Other options are BTC via Coinbase, cash on collection or bank transfer. It is our intention to never leave you feeling vulnerable to a scam

 

3. Shipping same day for all orders before 1PM. Our shipping cost to Mainland UK is 29.99 per machine for Avalon and Antminer, will be less for Gridseed. I know it's expensive but these are heavy. This does not include shipping insurance, you can add on shipping insurance if you wish but if you choose not to take it we cannot accept responsibility for damage in transit once the item has left our office. To be honest we prefer you to come and collect if possible, that way we can show you your machine hashing and running stable

 

4. We are upfront about this, when the machine arrives here we will start it mining and advertise it for sale. It will be mining until you collect it or we post it. If the machine does not mine stably or is running slow, it will not be sold. Every machine you buy will be running exactly as it should.

 

5. Help and support. We will support and help you getting your machine running and trouble shooting any issues that may arise. Happy to do this via phone, instant messaging, team viewer or whatever else. We will get you mining.

My name is Dean Hannan and I am a director of this and other companies, you are welcome to check me out on the web, I will appear as a director of several companies, some of which are registered to the address above.

Any forum member interested in hardware can come and have a look anytime.

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studio1one
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January 27, 2014, 02:46:37 PM
 #2

Duh,

A link would help

www.bitcoinminingmachines.co.uk

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January 27, 2014, 02:58:19 PM
 #3

Good to see another UK Startup, Well done.

Are you considering selling any smaller miners, ie Antminer U1 etc

Would be nice for people breaking in to Bitcoin who cant drop £2k on a miner (ME!)

Good Luck

Rgds

Ratters

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studio1one
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January 27, 2014, 03:02:10 PM
 #4

Hi Ratters,

The problem is that I can't see any ROI on those smaller miners now. It is getting tight to get ROI on the 200 but the CEX calculator, calculating at 50% increase a month still shows ROI.

I guess some people aren't bothered about that and just want to be part of the network but we are trying to offer the best chance of ROI on the machines.

When we get our hands on the Gridseed machines they will be cheaper and will offer a great chance of making profit on your purchase.

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January 27, 2014, 03:21:10 PM
 #5

I admit Gridseed looks very interesting, what would be a guestimate of the cost per unit? 10's or 100's of £.

i see your point on ROI, you are right, you will never ROI with a U1 mining Bitcoin but mining a SHA.. Alt and trading/selling you can ROI the same day.

Dont want to clog your thread so ill leave it there, just think there is a good market for lower end tech as well & also not many UK sellers doing it.

Rgds

Marc

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studio1one
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January 27, 2014, 03:37:04 PM
 #6

I admit Gridseed looks very interesting, what would be a guestimate of the cost per unit? 10's or 100's of £.

i see your point on ROI, you are right, you will never ROI with a U1 mining Bitcoin but mining a SHA.. Alt and trading/selling you can ROI the same day.

Dont want to clog your thread so ill leave it there, just think there is a good market for lower end tech as well & also not many UK sellers doing it.

Rgds

Marc

Hard to say, Gridseed put prices up just before the holiday and they are absolutely swimming in sales requests so I imagine they will go up again. It will be 100s not 10s though.

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January 27, 2014, 05:40:59 PM
 #7

I see at least 2 problems with your store:

1. The prices are very expensive (antminer S1 for £1900 EXCLUDING TAX is approx. 4.5BTC) - the antminer S1 will NEVER make ROI with this kind of price.

2. This quote from the OP:

when the machine arrives here we will start it mining and advertise it for sale. It will be mining until you collect it or we post it.

So basically you "testing" the machine = you making profit from a machine I bought until I come and pick it up.

Add on top of that you're a new store.

I'm out.
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January 27, 2014, 06:10:18 PM
 #8

sounds awesome! Just down the road from me, I'll keep an eye on your stock and if anything takes my fancy I'll come on over to get me some new hardware
studio1one
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January 27, 2014, 07:33:53 PM
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I see at least 2 problems with your store:

1. The prices are very expensive (antminer S1 for £1900 EXCLUDING TAX is approx. 4.5BTC) - the antminer S1 will NEVER make ROI with this kind of price.

2. This quote from the OP:

when the machine arrives here we will start it mining and advertise it for sale. It will be mining until you collect it or we post it.

So basically you "testing" the machine = you making profit from a machine I bought until I come and pick it up.

Add on top of that you're a new store.

I'm out.

I appreciate that prices can appear high but for a minute let me just address a couple of things.

First, you pay, you receive your machine that day if you pick up or next day if you want delivery, so there is no time between paying and receiving. If you bought an Ant S1 from China today you would not receive for 2-3 weeks, all that mining time lost.

you would have to pay import VAT as the machine arrived in the country

You get a full VAT invoice with your purchase, from us so actually we only receive £1583 for your machine, and if you are a VAT registered company you can claim that back so you have actually only paid the same. We are not some under the counter fly by night operation we are a legally operating Ltd Company. We are obviously here to make profit but if you do the maths of the full supply chain to in your hand you will see we are being far from greedy

Work it out, reclaim the VAT if you can, no import VAT or duties to pay and 2 weeks extra mining. You will see we are not really any more than the 1.9 BTC you could purchase from abroad, headline price is one thing, actual total costs are another


On the second point, as stated if you pay and want delivery it will be sent the very same day, as soon as you purchase it, the machine is yours. Likewise you come and pick up and pay it is yours as soon as you pay, we are not profiting from a machine you bought because as soon as you pay it is yours, either dispatched or picked up and not mining anymore. We are profiting from a machine you may or may not buy.

The fact is that KNC, Avalon, BFL, everyone mines the machines before they send them out. We are just being up front and honest about the fact we are doing it.

At the end of the day of course it is all about choice. You choose not to buy from us, that's no problem. We are confident that the machines we offer are good value and when taking the full costs and timescales into account represent fair value.

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January 27, 2014, 10:34:15 PM
 #10

Assuming:

* you have Antminer S1 currently in stock
* bitmain's price stays 1.9BTC on February 8th
* difficulty stays at current level

here's my calculation:


Bitmain

Antminer S1: 1.9BTC
VAT: 0.38BTC
Days of missed mining: 21 -> 21*0.045BTC per day
Shipment: free

Total price = 3.225BTC



Bitcoin Mining Machines

Antminer S1: 3.9BTC
VAT: 0.7BTC
Days of missed mining: 0
Shipment: 0.06BTC

Total price = 4.66BTC



So at almost 1.5BTC more this is not worth it at all IMO.
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January 27, 2014, 10:53:46 PM
 #11

We can't compete with offshore retailers, its the same in any industry. Stuff is always cheaper if you buy direct from the Far East, simple economics makes it so. Go on Ebay and buy from a Chinese seller, it's always cheaper. the costs associated with running a business in the UK make it impossible to compete directly with Far East sellers.

On the flip side you get more security and easier resolution to any problems that may occur and if things go really tits up someone to take to trading standards / small claims.

Also not quite sure where you are getting your exchange rates from. If you take the VAT off of the 1900 then the price is 1583. If you take lowest exchange price for BTC then 1 BTC = GBP 476, yesterday 512. Gox currentlyl at 602.

So to be fair take a mean of todays lowest and highest you get 1 BTC = 539.25

That makes our ex VAT price 2.9 BTC not the 3.9 you have written. You are massively misrepresenting our prices here

Anyway at the end of the day to purchase or not is a choice. These are our prices and the lowest we can currently charge. We are not pressuring anyone into buying just putting them out there as an option.


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January 27, 2014, 10:59:50 PM
 #12

To be clear our final cost ends up 0.435 BTC more than Bitmain.

OF course we can't sell as cheap as the manufacturer selling directly into retail, it's simply not possible.

I hope where we can add value is by offering local service, support and accountability as a UK company.

To some people that is valuable, to you it may not be.

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January 28, 2014, 12:38:58 AM
 #13

If £1900 includes the VAT You may want to remove this from your website then as it is misleading:



and i'll go do my calculations again. Smiley
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January 28, 2014, 12:56:38 AM
 #14

Another calc. attempt (it's late and i'm tired) Grin

You: £1583 (antminer) + £317 (VAT) + £30 (Shipment) + £40 (electricity for 21 days) = £1970 or 3.65BTC

Bitmain: £1026 (antminer) + £205 (VAT) + £510 (21 missed days) = £1741 or 3.22BTC


So yes, you are 0.435BTC more expensive than Bitmain - assuming:

1. you have the antminers for sale NOW
2. Bitmain delivers only in 3 weeks and not quicker
3. The difficulty stays the same for the next 3 weeks

Throw in a free PSU and I may be sold. Wink
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January 28, 2014, 07:48:46 AM
 #15

Stupid part of the cart theme. I'll remove it, thanks for pointing it out.

And.... after all that. I don't have any here today. No stock till Weds / Thurs at present. Sad


studio1one
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January 28, 2014, 09:30:48 AM
 #16

If £1900 includes the VAT You may want to remove this from your website then as it is misleading:



and i'll go do my calculations again. Smiley

Fixed, that part of the cart is for US sales tax, which doesn't exist here so we disabled it. Thanks again for the spot.

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January 28, 2014, 01:17:54 PM
 #17

You removed it from the antminer product specs page but it's still on the list when you click on "antminer" in the top menu. Smiley

btw, can you explain to me the £500 difference between your 200GH/s avalon miner and Mining Hardware's 200GH/s avalon miner ?

http://bitcoinminingmachines.co.uk//index.php?route=product/product&path=67_61&product_id=50

http://www.mininghardware.co.uk/en/200ghs-/30-200ghs-bitcoin-miner.html

But not all is bad - at least you are here responding to all our (or my) "annoying" questions. I hope your customer service will be just as good when someone (or myself) will make a purchase. Grin

oh, and keep us updated on those gridseed miners - I'm really waiting to hear some more news about them... Cool
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January 28, 2014, 01:42:34 PM
 #18

You removed it from the antminer product specs page but it's still on the list when you click on "antminer" in the top menu. Smiley

btw, can you explain to me the £500 difference between your 200GH/s avalon miner and Mining Hardware's 200GH/s avalon miner ?

http://bitcoinminingmachines.co.uk//index.php?route=product/product&path=67_61&product_id=50

http://www.mininghardware.co.uk/en/200ghs-/30-200ghs-bitcoin-miner.html

But not all is bad - at least you are here responding to all our (or my) "annoying" questions. I hope your customer service will be just as good when someone (or myself) will make a purchase. Grin

oh, and keep us updated on those gridseed miners - I'm really waiting to hear some more news about them... Cool

Hard for me to speak for them, and really don't want to speak out of turn. As far as I am aware that price is an ex VAT price shipped from China,

Again I could be wrong but that is the impression I get from reading their thread and website. Our goods are all shipped or picked up from UK.

Quote
Delivery

Updated:  21/12/2013

All goods are shipped from our head office in China.

It is extremely important to miners that their hardware is received asap.  As a miner myself and the past frustrations I have had to face, I know this is vital.  I have started this additional extension to our main business knowing we can dispatch quickly thus allowing the community to get the best out of the Bitcoin world.

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January 28, 2014, 02:06:52 PM
 #19

That ex tax is really annoying, its hidden in the SQL so needs to bemodded by hand, can't be done via admin.

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January 28, 2014, 02:18:06 PM
 #20

Yeah you can do it in the OpenCart admin, it's just a bitch to find - I can't even remember where I turned it off
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