[CLOSED] Ninja Group Buy #5 - QTY 8 Gridseed LA6M 48Mhash Scrypt [0/160]

[Flep182]

Ninja, I'd like to make an ad and get these liquidated...

And a status update would be nice too.

[Flep182]

With the current difficulty with ROI and the very nice Antminer S3 I'd be for a switch to BTC mining. With a batch of those we'd at least start mining again. At the moment nothing happens and Ninja doesn't respond anymore

[lynn_402]

With the current difficulty with ROI and the very nice Antminer S3 I'd be for a switch to BTC mining. With a batch of those we'd at least start mining again. At the moment nothing happens and Ninja doesn't respond anymore

If we were to do such a radical change as switching to mining another algorithm, might as well do a share buyback and start a new group buy.

[Flep182]

With the current difficulty with ROI and the very nice Antminer S3 I'd be for a switch to BTC mining. With a batch of those we'd at least start mining again. At the moment nothing happens and Ninja doesn't respond anymore

If we were to do such a radical change as switching to mining another algorithm, might as well do a share buyback and start a new group buy.

Well, I hope in that case Ninja discusses that plan with the users instead of the flash closings of the first few GB's.

[dyland]

My friend zig hash just sold 30 oclocked pods for $50 each. I'm sure we could sell ours for $30.

https://bitcointalk.org/index.php?topic=656105.0

Ninja, I'd like to make an ad and get these liquidated...

I'm making an ad to liquidate on bitcointalk.

Having offers come by PM to you Ninja.

[MWNinja]

I'm still here and the grids are still mining away - I've never collected a penny for hosting them either.  We've been very busy getting our cloud ready, and it's now finally made it to closed beta today.  I can finally come up for a breath of air.  There hasn't been any action on Craigslist or Ebay for these in awhile, and the price of Scrypt machines is still falling fast. Waiting has been a good strategy here.

I'm happy to facilitate a sale in the $30-$50 each range; but so far the only offers we have had have been from scammers. If any of the members want out, I can ship your grids to you (just provide a label). 

Members only, please PM me for an invite to the NinjaCloud closed beta; we're looking for testers.

[MWNinja]

Looks like the multipool we have been using is closing down. I need some recommendations for where to point the seeds...

[Flep182]

Looks like the multipool we have been using is closing down. I need some recommendations for where to point the seeds...

Here is a good overview: http://cryp.today/

Nicehash = rental where you can decide a minimum price to mine for per hash. I'm using clevermining as first pool after and wafflepool as the second one.

[dyland]

No one will buy these at the moment with what is out there for more than $10.

I say run them for as long as they maintain profitability and then 86 them.

[MWNinja]

We're going to switch this one to the ghash.io multipool later today to take advantage of auto-payouts (makes my life super easy).  Also the NinjaCloud will be adding Scrypt and X11 support later this week (it's in testing on our development branch), so we'll also be able to get some additional revenue renting out the hashpower. The hosting situation on this group is good for a quite some time, so we should be able to stay running (as long as there is some meaningful return) for 6+ more months.

[Flep182]

The please remove all the crappy coins that constantly ORPHAN, it's a plague on GHash.io.

Plus, what's going to be done with the 1500 USD that we have in cash? Would it be a good one, as I suggested, to get 3 antminer S3's and at least get the money active doing something?

The S3's at least will most probably ROI.

[MWNinja]

I'd like to keep this one on Scrypt; the prices on scrypt have fallen considerably, but I believe they will continue to fall faster than the machines will earn until the retail price of the machines reaches production costs plus a thin margin.  I expect this to happen in the October time frame for scrypt as it's beginning to happen now for sha256.

Power efficiency is going to be a key factor. 

Looking at GAW their hosting prices are cheaper than the cheapest electricity rates in the world....makes me wonder how they do that? Ponzi perhaps? 

[daemonfox]

I'd like to keep this one on Scrypt; the prices on scrypt have fallen considerably, but I believe they will continue to fall faster than the machines will earn until the retail price of the machines reaches production costs plus a thin margin.  I expect this to happen in the October time frame for scrypt as it's beginning to happen now for sha256.

Power efficiency is going to be a key factor. 

Looking at GAW their hosting prices are cheaper than the cheapest electricity rates in the world....makes me wonder how they do that? Ponzi perhaps? 

Actually i checked this myself and the rates were comparable to my electric cost... I assume that means they have a healthy margin on those machines and are just giving away the hosting at break even costs.

While I do not hold it against you for trying to keep this group on scrypt... holding the cash is allowing it to do nothing for us right now. The batch 8 S3+ went up on Bitmain for .58 BTC each (that is under $300) and hashes at 453 GH/s... buying BTC with that $1500 and then buying 5 S3+ will be adding 2.265 TH/s minimum by Sept 20th. That earns at least half the BTC cost back by the end of the year on a steady 20% increase through the end of the year. these S3s will be profitable well into 2015 and possibly later and represent one hell of a way to ensure this GB continues to make BTC.

The only other thing I would suggest, is that profitability on scrypt is just going to decrease as the ASICs get to narrower margins... if you do not feel it is worth buying something with these funds... buy BTC and split it evenly across all shares.

[Flep182]

What daemonfox says!

I personally don't see a great influx of money into LTC and other altcoins. So we would be mainly hitting LTC through pools and LTC looks to be crumbling. In October all large Scrypt ASIC builders will have delivered. The Gridseeds we have will be completely useless by then and I would like to get at least ONE of the ninja GB's I'm in to ROI or at least get close to it. GAW absolutely sucks powerwise. Even their new Green line does. So for me Scrypt isn't a real option to invest in right now. I've done calculations on all available hardware and even with mild increases they don't ROI.

I don't think it's such a problem to switch to SHA256 since we're already paying out in BTC anyway and while we try to sell off more gridseeds at least we're getting a hell of a lot of revenue coming in from the Ant's. With a budget of 1500 USD I think that's the best way to earn back most of the investment and make a profit on top.

Plus I'd like to get more discussion in the group and decisions by the members. There's been a whole load of messages before we got a response from MWNinja with a statusupdate, I'd like to get a bit more engagement from the GB manager. We've been sitting on that 1500 USD since 23rd of June and no action there. It's the groups money and the group needs to decide what to do with it.

Same thing with the switch to GHash multipool. That's a decision the group should make or at least get involved in. Yup, it makes life easier with payouts but like I said, they orphan like hell there, I had to unselect most of the smaller coins there in my fallover pool.
I'd rather have them pointed at Nicehash when the price there is higher than elsewhere (or the ninjacloud if that works well) and with CM as first pool and maybe GHash as failover.

But mainly, get the S3's to at least get this GB profitable soon.

[urbanBTC]

I'd like to keep this one on Scrypt; the prices on scrypt have fallen considerably, but I believe they will continue to fall faster than the machines will earn until the retail price of the machines reaches production costs plus a thin margin.  I expect this to happen in the October time frame for scrypt as it's beginning to happen now for sha256.

Power efficiency is going to be a key factor. 

Looking at GAW their hosting prices are cheaper than the cheapest electricity rates in the world....makes me wonder how they do that? Ponzi perhaps? 

You accuse others of ponzi!!!

You still nots answer questions about your scammy worded S3 buy that was a lease!!  I got ignored by yous for asking valid questions you showed no proofs.

[MWNinja]

I'm working on something with some S1's that would start hashing next week (undervolted), to be upgraded to S3's when the upgrade kits ship.  Fingers crossed on this deal.

[Flep182]

I'm working on something with some S1's that would start hashing next week (undervolted), to be upgraded to S3's when the upgrade kits ship.  Fingers crossed on this deal.

That would even be a better deal if it's cheaper than just buying the S3's!

I'm all ears!

[urbanBTC]

I'm working on something with some S1's that would start hashing next week (undervolted), to be upgraded to S3's when the upgrade kits ship.  Fingers crossed on this deal.

Wills it make same claims that regular S3 did without proving?  The one that was changed names to sound less scammys on a lease?

https://bitcointalk.org/index.php?topic=715299

[MWNinja]

Ok here's what I have put together for this group's expansion:

3 Antminer S1's - $125/each
1 1200 Corsair Power supply - $200
3 Antminer S3 Upgrades = $241/each

Total: $1298

The remaining $200 is being witheld to help offset our power costs to date, so far we haven't withheld anything, despite our cost basis changing when we lost the original location.  Also I donated my remaining personally owned gridseeds to the group as well, and took zero compensation for them.

We will set-aside 20% of the group's hashrate to pay the $200/mo power bill for our operation.  Next power bill will be due October 1st; if it starts to look like we are going to come up short on power we will adjust the set-aside percentage.  Everything will be set on auto-pay from Ghash.io, so payment will occur as soon as the .1 threshold is met.  We're picking up the S1's this weekend, and will get them installed ASAP.  We have a very low power cost for the next 9 months (though its limited to about 2500 total usable watts), so I expect this group to thrive for quite some time.

[Flep182]

Those upgrades are as specified on the Bitmain website right now? The one shipping before 20th of september?

Are those S1 going to run undervolted for the time being until the upgrades are there? Because buying completely new S3+'s will cost at current bitcoinrate 295 USD each which is cheaper then buying 3 x S1's off of you and waiting for the upgrades. Unless we'll be running hashes with them untill the 20th of september. Then it makes more sense.

And I've raised a question before about the GHash multipool, have you taken out the coins that constantly orphan?

And last one, have you considered getting nicehash as the first pool and when price is lower dan actual payout at other pools switch over to backup pools? Nicehash has usually a higher payout than straight mining multipools so it's an easy way to get 20-30% higher payouts. Even if you do a payoutround every three weeks to get to a minimum payoutlevel it's way more profitable.