[NINJA] Ninja Mining Cooperative - Information and Share Trading Thread

[Flep182]

Would it be possible to change to USD payments for hosting already since we're currently "throwing away" a lot of BTC with these low exchange rates?

[lynn_402]

Would it be possible to change to USD payments for hosting already since we're currently "throwing away" a lot of BTC with these low exchange rates?

Wouldn't simply buying Bitcoins serve the same purpose?

[MWNinja]

We're happy to accept USD for the hosting, just PM me with how many weeks and shares you want to pay for and I will get you an invoice.

Would it be possible to change to USD payments for hosting already since we're currently "throwing away" a lot of BTC with these low exchange rates?

[Flep182]

We're happy to accept USD for the hosting, just PM me with how many weeks and shares you want to pay for and I will get you an invoice.

Would it be possible to change to USD payments for hosting already since we're currently "throwing away" a lot of BTC with these low exchange rates?

Cool, what payment options are there? Paypal? Wire transfer?

[dyland]

We're happy to accept USD for the hosting, just PM me with how many weeks and shares you want to pay for and I will get you an invoice.

Would it be possible to change to USD payments for hosting already since we're currently "throwing away" a lot of BTC with these low exchange rates?

Cool, what payment options are there? Paypal? Wire transfer?

+1
I think I might do the same.

[MWNinja]

ACH/e-check for US based people. We have limited paypal availability for those that can't use ACH.

We're happy to accept USD for the hosting, just PM me with how many weeks and shares you want to pay for and I will get you an invoice.

Would it be possible to change to USD payments for hosting already since we're currently "throwing away" a lot of BTC with these low exchange rates?

Cool, what payment options are there? Paypal? Wire transfer?

+1
I think I might do the same.

[MWNinja]

News about the Neptunes: https://www.kncminer.com/news/news-82

We've requested that all of our Group Buy's Neptunes be converted to Jupiters and shipped ASAP.  We need these hashes yesterday to hope to ROI.

[EnJoyThis]

News about the Neptunes: https://www.kncminer.com/news/news-82

We've requested that all of our Group Buy's Neptunes be converted to Jupiters and shipped ASAP.  We need these hashes yesterday to hope to ROI.

You are right, we need the hashes rather sooner than later but with this change there are some questions...

What will be the effect in $$/btc regarding this change?

They won't ship these puppies with power suplies and even worse, they will use more kWh than the Neptunes is supposed to.

I"m in GB1 and in GB3.

For GB1 the hosting fee of the Neptune was included in the total hosting fee, will this stay the same?
For GB3 the hosting fee of the Neptune was to be paid once the unit arrived, will the hosting fee be the same?

Will you charge any additional fees because you need to buy the power supplies yourself?

[MWNinja]

Group Buy #1 the bonus hashes will be delivered as soon as we get the gear, no additional hosting fees as promised.

Groups #2-#3 will have to pay a TBD (depends on power/space requirements) hosting fee for the neptune (surrogate), not to exceed what was originally estimated.

We will take care of the power supplies; we have some namecoin proceeds that we can use to obtain those and any related networking/PDU equipment needed to deploy.

We've also started the development of a new cloud mining solution (where you are in charge and pick the pool).  We will have a transition period where everyone will have the opportunity to convert their shares to the new system, if they so desire.

News about the Neptunes: https://www.kncminer.com/news/news-82

We've requested that all of our Group Buy's Neptunes be converted to Jupiters and shipped ASAP.  We need these hashes yesterday to hope to ROI.

You are right, we need the hashes rather sooner than later but with this change there are some questions...

What will be the effect in $$/btc regarding this change?

They won't ship these puppies with power supplies and even worse, they will use more kWh than the Neptunes is supposed to.

I"m in GB1 and in GB3.

For GB1 the hosting fee of the Neptune was included in the total hosting fee, will this stay the same?
For GB3 the hosting fee of the Neptune was to be paid once the unit arrived, will the hosting fee be the same?

Will you charge any additional fees because you need to buy the power supplies yourself?

[xZork]

I am interested in buying shares in group #1

I am not going to pay much for them, if you want to sell, please post or PM me.

[MWNinja]

Payouts are a bit delayed this week.  Between bad pool luck, the low price of BTC, and network difficulty increases we fell short of meeting expenses on all group buys.  We are converting the namecoin earnings for group #1-#3 to give them an income boost and arranging a private buyer for this weeks earnings to get a favorable rate.  If we can just hold on for a couple more weeks the Franken-Jupiters will arrive to "save the day". Payout will be processed by Midnight Pacific today.

[xZork]

Payouts are a bit delayed this week.  Between bad pool luck, the low price of BTC, and network difficulty increases we fell short of meeting expenses on all group buys.  We are converting the namecoin earnings for group #1-#3 to give them an income boost and arranging a private buyer for this weeks earnings to get a favorable rate.  If we can just hold on for a couple more weeks the Franken-Jupiters will arrive to "save the day". Payout will be processed by Midnight Pacific today.

Thanks for the update.

[Flep182]

Would it be an option to put the rigs on some lease rigs alike website? Afaik the revenue from those sites is higher than what bitcoin mining on our own would yield.

Other option would be to switch to USD payments for hosting, assuming everyone is sure they'll want to hold on to BTC with an expectation that it will rise back up.

[howardb]

For sale  4 x GB4 shares. PM me your offers.

[btcXem]

Thanks for the update and hard work. I have a couple questions:

I have shares in GB 1, 2, 3 and 4 can I combine ten of them now for physical delivery?

If I do, what happens with the payouts from the Franken-Jupiter for GB 1, 2, 3 and the GPU rig from 4?

[MWNinja]

Would it be an option to put the rigs on some lease rigs alike website? Afaik the revenue from those sites is higher than what bitcoin mining on our own would yield.

Other option would be to switch to USD payments for hosting, assuming everyone is sure they'll want to hold on to BTC with an expectation that it will rise back up.

We're working on starting our own leased/cloud hashing service, using the next batch of hardware which is largely unsold.  One option is that the cooperative could sell its hardware to this new venture in exchange for equity. This would allow the original group buy members to profit off the growth of the company, rather than be limited to only mining. Long run this could be a big win for all.

Thanks for the update and hard work. I have a couple questions:

I have shares in GB 1, 2, 3 and 4 can I combine ten of them now for physical delivery?

If I do, what happens with the payouts from the Franken-Jupiter for GB 1, 2, 3 and the GPU rig from 4?

We will allow you to combine to accept physical delivery.  For Group #1 the Neptune is bundled into the monthly fee, so no Franken-Jupiter payout would occur there if you were to redeem. Group 2-3 you would still receive the Franken-Jupiter.  Note: you need to pay $99/per unit, provide a shipping label, and pay off any remaining hosting obligation to receive physical delivery.  We have a limited amount of ANTs that are currently in our possession and (thanks to a legal problem) can't get remove the rest from the data-center.  Hopefully that issue will be resolved this week...but if we don't have the hardware on hand we will buyback the shares at the equivalent residual value.

For Example:
Say you own 10 shares in group 3.  You want to take delivery this week.
Your costs: $99 Noc fee, $29 shipping label, $34.60 remaining commitment; total due $162.60.
You can pay: $162.60 and get an ANT or we can send you .893BTC current price of ANT less the $162.60 =  .593BTC (subject to exchange rate fluctuation). As Group #3 still owns the Neptune/FrankenJups you will get your share(s) of it less hosting fees.

Lawyers have erased any profit I would have made on this whole venture so far; I'm trying to make lemonade out of the lemons and take care of you guys as best I can. Bitcoin getting pumped back to $1000 would help.  I'm open to suggestions as well;  the reality is the overall situation for Groups 1-4 right now is pretty bleak.

[dunchy]

We're working on starting our own leased/cloud hashing service, using the next batch of hardware which is largely unsold.  One option is that the cooperative could sell its hardware to this new venture in exchange for equity. This would allow the original group buy members to profit off the growth of the company, rather than be limited to only mining. Long run this could be a big win for all.

interested.

[EnJoyThis]

Lawyers have erased any profit I would have made on this whole venture so far; I'm trying to make lemonade out of the lemons and take care of you guys as best I can. Bitcoin getting pumped back to $1000 would help.  I'm open to suggestions as well;  the reality is the overall situation for Groups 1-4 right now is pretty bleak.

Please elaborate on the issue regarding the lawyers?

Weren't all units placed in a datacenter where one of the ninja guys work?

What is the potential exposure to us as 'shareholders' and ofcourse our mining equipment?

[MWNinja]

Lawyers have erased any profit I would have made on this whole venture so far; I'm trying to make lemonade out of the lemons and take care of you guys as best I can. Bitcoin getting pumped back to $1000 would help.  I'm open to suggestions as well;  the reality is the overall situation for Groups 1-4 right now is pretty bleak.

Please elaborate on the issue regarding the lawyers?

Weren't all units placed in a datacenter where one of the ninja guys work?

What is the potential exposure to us as 'shareholders' and ofcourse our mining equipment?

I can't really give too many details, as the lawyers are working on it and I don't want to compromise their efforts. They terminated my partner's employment at the data center; he's got a wife and 3 kids and is struggling to make end meet while we are getting ready to launch our cloud company. This project pretty well destroyed his normal life, but he remains committed to building our world class miner colocation business.
We hope to have some more answers this week, but legal doesn't move at the same pace as BTC. 

Michael (my partner) could use your donations and generosity: 1EHRAYFFtRajfAoTXuJzFTAbjBwfxrf5vP


None of this matters to you as hardware owners, our commitment to you remains the same.  We're offering the btc equivalent of any hardware that we can't deliver due to the issue. The equipment continues to operate and all the bills have been paid, so this has no effect as long as the group buys remain solvent (another pending problem, lol). Bitcoin is heading up and the Franken-Jups are on their way....

[btcXem]

We're working on starting our own leased/cloud hashing service, using the next batch of hardware which is largely unsold.  One option is that the cooperative could sell its hardware to this new venture in exchange for equity. This would allow the original group buy members to profit off the growth of the company, rather than be limited to only mining. Long run this could be a big win for all.

I'm interested in this idea. Physical delivery is a nice option, but I'd prefer a good alternative.

I can't really give too many details...

Wow, that sucks. I'd like to hear the full story when/if you can tell it.