[CLOSED] Ninja Group Buy #6 9TH 28nm Hosted - 250GH for 1.666btc [0/40]

[MWNinja]

For more info about our cooperative and to get the latest news on new group buys check out http://coinninja.com


Closed.  Scaled back to 9 as thats all that will fit in a cabinet.

Offer updated! We are deploying a batch of 109 of the new 1TH miners out of China.  These are more power efficient so we can pass the savings on in the form of lower hosting fees.

Group Buy consists of 109 - 1THs 1kW 28nm Miner. 40 shares ~ 250GH for 1.666BTC (or 1.646BTC for previous group buy owners)

Everything has been ordered and paid for, no waiting for the group buy to complete. These are ordered out of the March 18th batch and we expect to have them up and running by March 25th. We take no responsibility in case of non-delivery, hardware failures, including if the purchase we made was an outright scam. We did due diligence and we believe the seller (Cheshyr) is reputable. If it turns out we end up needing to get a refund, it would be distributed amongst the owners. We run a professional colocation company and will be doing more group buys in the future. We have 10MW worth of power at our disposal!  There are a total of 40 shares for this Group Buy.


Who am I?
I'm an open source developer, and a Bitcoin mining hardware addict. I've run out space at several mining locations, and finally "bit the bullet" and moved into a world class datacenter. We are talking about a 24 hour security (multiple redundant power systems, back-up generators, back-up back-up generators, pre-chilled water tanks for back-up cooling, retina-scan access) professional data center. I am the Meetup coordinator for the Arizona Bitcoin Meetup group (now 130+ members strong; Bitcoin is kicking ass in PHX!!!). I've met many people from Bitcointalk and prominent members of the community in person as well. I've run a few Bitcoin related projects, designed my own Bitfury USB miner (ouch on that story), and pretty much eat, sleep, drink, live and breathe Bitcoin 24/7/365.

A full-time employee at the datacenter is a group buy owner. Our hardware is getting the coldest spot in the house, and will be well supervised! No more intense heat, fire risk, angry wife, or surprise electric bills. Let us host your miner(s) in an ICE COLD datacenter.




This Group Buy Includes:

• 9 - 1THs 1kW 28nm Miner
• First 2 Weeks of hosting included FREE!
• Miners hosted securely behind a firewall: priceless

These 28nm miners get 1GH per Watt, so they should perform well up until the difficulty is up to 500M. Being hosted in a professional data center gives the group buy owner the advantage of the best uptime and lowest ping times to the pools to reduce stale shares. This group buy will go into our secure private cage @ PhoenixNAP.

Terms

Payouts will be paid weekly. After the first 2 weeks, monthly hosting fees of 399.99 per unit ($99.75 per share) will be assessed to the group buy. No additional management charges apply. The hosting charges will be deducted at the exchange-rate obtained by the group buy from a provider such as Coinbase. You may choose to pay your monthly fees in USD, so that you can keep the maximum amount of bitcoin that your hardware generates. You are contractually obligated to host your miner with us for a period of no less than 6 months.  If you own a multiple of 4x shares, you may choose to take physical possession of your hardware, after the initial 6 month period. NOC fee and shipping fee NTE $99 per unit apply (actual shipping costs additional, please send us a label).

You agree as a group buy owner to host your hardware with us for a total period of at least 6 Months. If at any time during or thereafter the weekly earnings of the miners are insufficient to pay the hosting fees, the group buy owners shall make up the difference in USD. Non-payment of hosting fees/deficit will result in forfeiture of ownership rights to the hosted hardware. Any and all payments are due when invoiced; 30 days late constitutes default and will result in forfeiture of your fractional ownership.

How to Buy

Send BTC1.666 x the number of shares you would like to the common group buy payment address:

1NiNJAGi1k51pfxKsQQQisf3MMwsPU5yCc

ACH Payments available on request via PM, at the preev.com rate.  

Current owner loyalty bonus: If you currently own shares in Group Buy #1-#5 you may purchase at a reduced price of  BTC1.646 Also you may trade-in Group #1 - Group #4 shares @ BTC0.12 each toward the purchase of Group #6 shares.

Each fractional share represents 1/4th of an 1TH 28nm Miner approx 250GH. This is one of the lowest prices for hosted hashing anywhere and beats the price on Cex.io. It's a much better value overall compared to buying ANYTHING else out there.  You get hashes NOW, no waiting for lengthy pre-orders.

IMPORTANT: You will receive your payout to the FIRST address that is used as an input to this transaction. Make certain that this is an address that you control, and not an exchange or off-blockchain wallet service. You will be required to sign a message using the first input address to verify ownership of your fractional hardware.

FINCEN Compliance: This group buy is hosted in the US and geared toward US persons who would like to take an ownership position of Bitcoin mining hardware. You are buying a fractional ownership of the hardware. If you own a multiple of 10x shares, you may choose to take physical possession of your hardware after a period of 120 days. The group buy coordinator is NOT offering any type of security or financial product, rather we are selling fractional ownership of physical hardware and providing hosting/management services. Out of an abundance of caution, we reserve the right to collect KYC information from our customers. You may be requested to present an ID and recent utility bill to verify your identity. The group buy coordinator is not a money transmitter, and merely facilitates hosting of miners for group buy owners.

Owners List
1DpzuBzafKncPMsWUDrxVVJGEf9eow9cG4   2   n/a
1A6BXaKWnaCgggTq3PjxeybEKQTybqmanY   1   davecoin
1PoY1bpigWqqeTkY3XErUzJvKdNubPtRVS   1   dyland
1QG58iPBSxssxFr2Q33T1E8UqHdgaYakEP   1   terrabyte
1LoNgtrkC4QFwfVheX3rumi6xLaGuHPJ4P   2   suchmoon
13gfag4io5Zer6oF1d11eWbaeDLCzGWGPz   4   railzand
1K5F9aqa18ueBnvUZAUqy5UT8eFMtuzBi4   8   dbasql
124WvbC1CND9R9eUdnyXHZeMoFT1HK5KeF   4   dunchy
1Ninj6JVAVP4yQPzThUkexCgN7mQNHSkfz   4   sf2
1Kc1F7TDj1Dhuce4Hp1YaK5Zr31LpYBUUw   1   xanthin
1LSqR5kFGnFn56b9g49pAjqrqCyBqxZfDd   5   nucleon
18vA71AdGgTJhuDYkj2WMNnxBoaVRuKGgc   2   MWNinja
1BZo9yFt74co9fTYbhiepgCHBtU3ie69Xn   1   lostering

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[Cheshyr]

MWNinja has made payment, and we've already sent his order to the factory.  These miners come with a 6 month warranty, and we're ordering spare parts to provide local repair services.  Shipment is scheduled for March 18th, via DHL International.

[MWNinja]

Offer updated, much higher hashrate, lower hosting fee.... and fewer shares available. 

[lostering]

Since the value of a share in this GB6 is much higher than other GBs.
Would 1 share in this GB6 count as more than 1 share when applied for free hosting in GB5?   

[MWNinja]

Since the value of a share in this GB6 is much higher than other GBs.
Would 1 share in this GB6 count as more than 1 share when applied for free hosting in GB5?   

Indeed, one share would count as 6 qualifying shares for GB5 hosting.

[Macali]

what's the likeliness of ontime delivery?

[Cheshyr]

what's the likeliness of ontime delivery?

Depends on who you ask.    I'm a little biased, but I think I padded the shipping schedule enough to allow more than enough time for delivery.

[MWNinja]

what's the likeliness of ontime delivery?

We have a good record of beating promised install dates; plus our staging area has (1) 220V 30AMP and (2) 110V 20 AMP circuits to get them running ASAP while we figure out their final deployment.

[91umisoo]

Offer updated, much higher hashrate, lower hosting fee.... and fewer shares available. 

sure ?

[davecoin]

1 share, thanks:

7d5aca75f6975fe34ae629765b70b0f30da563a7fdab6f7efd804a72aeec1a36

_____________

edt:

payout address:
1A6BXaKWnaCgggTq3PjxeybEKQTybqmanY

[dyland]

I'm interested in trade in.

I have 8 shares in GB 4 and 5 each.

How would this work/is this possible if I wanted to trade in all shares?

[MWNinja]

You can trade your GB #4 shares in; 1 share of group #6 qualifies as 6 shares for sake of of Group Buy #5 hosting.  To avoid paying any additional hosting on group #5 I would recommend only trading in 6 of your group #4 shares.

Confused yet?  I know I am.

It wouldn't make any sense to trade in your group #5 shares (not yet at least).

I'm interested in trade in.

I have 8 shares in GB 4 and 5 each.

How would this work/is this possible if I wanted to trade in all shares?

[S4VV4S]

Couldn't you post this before I spent all my coins?

Guess I have to wait and hopefully there will still be a spot for me 

[dyland]

You can trade your GB #4 shares in; 1 share of group #6 qualifies as 6 shares for sake of of Group Buy #5 hosting.  To avoid paying any additional hosting on group #5 I would recommend only trading in 6 of your group #4 shares.

Confused yet?  I know I am.

It wouldn't make any sense to trade in your group #5 shares (not yet at least).

I'm interested in trade in.

I have 8 shares in GB 4 and 5 each.

How would this work/is this possible if I wanted to trade in all shares?

Yeah I don't want to trade in any gb 5...so if I understand correctly I can trade 6Xgb 4 shares for 1Xgb 6 share, keeping 2 in gb 4?

[MWNinja]

You can trade your GB #4 shares in; 1 share of group #6 qualifies as 6 shares for sake of of Group Buy #5 hosting.  To avoid paying any additional hosting on group #5 I would recommend only trading in 6 of your group #4 shares.

Confused yet?  I know I am.

It wouldn't make any sense to trade in your group #5 shares (not yet at least).

I'm interested in trade in.

I have 8 shares in GB 4 and 5 each.

How would this work/is this possible if I wanted to trade in all shares?

Yeah I don't want to trade in any gb 5...so if I understand correctly I can trade 6Xgb 4 shares for 1Xgb 6 share, keeping 2 in gb 4?

Comes out to .926btc =  1.646 - (6 * .12) if my math is right. And you'll be covered for your group 5 shares.

[dyland]

You can trade your GB #4 shares in; 1 share of group #6 qualifies as 6 shares for sake of of Group Buy #5 hosting.  To avoid paying any additional hosting on group #5 I would recommend only trading in 6 of your group #4 shares.

Confused yet?  I know I am.

It wouldn't make any sense to trade in your group #5 shares (not yet at least).

I'm interested in trade in.

I have 8 shares in GB 4 and 5 each.

How would this work/is this possible if I wanted to trade in all shares?

Yeah I don't want to trade in any gb 5...so if I understand correctly I can trade 6Xgb 4 shares for 1Xgb 6 share, keeping 2 in gb 4?

Comes out to .926btc =  1.646 - (6 * .12) if my math is right. And you'll be covered for your group 5 shares.

A ha, I see. I was about to jump on this because I thought it was only (6*.12). Didn't realize that this would need to be applied against 1.646btc. Nevertheless, for equivalent hashing, it's about half the hosting fees. So I pay a premium of .926btc for half the hosting costs given equivalency between hashes. Thinking about it...

If payouts average .15 per share for this over the next two months, it'll take me six weeks to make back the premium, but then lower hosting thereafter. This draws out my ROI by six weeks, but I'm more protected from low BTC value against hosting fees should BTC value go down.

Hmmm...I just hate the idea of drawing myself out further.

[MWNinja]

You can trade your GB #4 shares in; 1 share of group #6 qualifies as 6 shares for sake of of Group Buy #5 hosting.  To avoid paying any additional hosting on group #5 I would recommend only trading in 6 of your group #4 shares.

Confused yet?  I know I am.

It wouldn't make any sense to trade in your group #5 shares (not yet at least).

I'm interested in trade in.

I have 8 shares in GB 4 and 5 each.

How would this work/is this possible if I wanted to trade in all shares?

Yeah I don't want to trade in any gb 5...so if I understand correctly I can trade 6Xgb 4 shares for 1Xgb 6 share, keeping 2 in gb 4?

Comes out to .926btc =  1.646 - (6 * .12) if my math is right. And you'll be covered for your group 5 shares.

A ha, I see. I was about to jump on this because I thought it was only (6*.12). Didn't realize that this would need to be applied against 1.646btc. Nevertheless, for equivalent hashing, it's about half the hosting fees. So I pay a premium of .926btc for half the hosting costs given equivalency between hashes. Thinking about it...

If payouts average .15 per share for this over the next two months, it'll take me six weeks to make back the premium, but then lower hosting thereafter. This draws out my ROI by six weeks, but I'm more protected from low BTC value against hosting fees should BTC value go down.

Hmmm...I just hate the idea of drawing myself out further.

I think you are missing the fact that these shares are 250GH, you would be trading in shares that roughly total 120GH; so not only do you save on the hosting but you are doubling your hashrate.

[dyland]

You can trade your GB #4 shares in; 1 share of group #6 qualifies as 6 shares for sake of of Group Buy #5 hosting.  To avoid paying any additional hosting on group #5 I would recommend only trading in 6 of your group #4 shares.

Confused yet?  I know I am.

It wouldn't make any sense to trade in your group #5 shares (not yet at least).

I'm interested in trade in.

I have 8 shares in GB 4 and 5 each.

How would this work/is this possible if I wanted to trade in all shares?

Yeah I don't want to trade in any gb 5...so if I understand correctly I can trade 6Xgb 4 shares for 1Xgb 6 share, keeping 2 in gb 4?

Comes out to .926btc =  1.646 - (6 * .12) if my math is right. And you'll be covered for your group 5 shares.

A ha, I see. I was about to jump on this because I thought it was only (6*.12). Didn't realize that this would need to be applied against 1.646btc. Nevertheless, for equivalent hashing, it's about half the hosting fees. So I pay a premium of .926btc for half the hosting costs given equivalency between hashes. Thinking about it...

If payouts average .15 per share for this over the next two months, it'll take me six weeks to make back the premium, but then lower hosting thereafter. This draws out my ROI by six weeks, but I'm more protected from low BTC value against hosting fees should BTC value go down.

Hmmm...I just hate the idea of drawing myself out further.

I think you are missing the fact that these shares are 250GH, you would be trading in shares that roughly total 120GH; so not only do you save on the hosting but you are doubling your hashrate.

I did attempt an apples to apples comparison (by adding theoretical 5 shares to 8 to get to ~260Ghsh), but overstated the equivalency. My starting point is 6 rather than 8 you are right.

I'm saying if I got to 12 shares in GB4, this would get me to an equivalent hashing rate in this GB. That's $179.88 as compared to 99.00 for this GB6.

But yes, I am doubling hashrate too...but for .926 BTC.

If there's an average return of .18BTC for each share in GB6, it'll still take 5 weeks to get to the same spot I'm in now with respect to ROI, but thereafter, yes, I would have a more accelerated return. The question is always one of difficulty, and in five weeks it could go up a lot, thereby negating gains of accelerated return. I do see the price of BTC rising, though, to negate hosting.

Sorry for thinking out loud, but just on the fence I guess with drawing out my ROI any further despite gains in acceleration of return.

[dyland]

OK Ninja. Let's hope we get to 750 in the next month!

.926BTC sent to upgrade 6 shares from GB4.

https://blockchain.info/tx/461ae42881b94e9146d43e60424e78a1d71b7f1ad309c187fcd9603a47270307

[dunchy]

MWNinja please confirm the following calculations:

4 x 1.646 - 10 (GB#3) x 0.12 = 5.384  BTC is the amount I need to transfer to have in possession one piece of 1THs machine.

Since I haven't used my right from GB#3 shares to claim shares in GB#5, this qualifies me for 4 x 6 = 24 more GB#5 shares (if there will be any more offered).

Also, do you have any experience / knowledge about this equipment ? I'm much more afraid of reliability issues than about possible delay or non-delivery. Will they run 24/7 without any problems?

[MWNinja]

MWNinja please confirm the following calculations:

4 x 1.646 - 10 (GB#3) x 0.12 = 5.384  BTC is the amount I need to transfer to have in possession one piece of 1THs machine.

Since I haven't used my right from GB#3 shares to claim shares in GB#5, this qualifies me for 4 x 6 = 24 more GB#5 shares (if there will be any more offered).

Also, do you have any experience / knowledge about this equipment ? I'm much more afraid of reliability issues than about possible delay or non-delivery. Will they run 24/7 without any problems?

Your math looks good. 

As far as reliability is concerned, there isn't much history on these machines yet.  The ones that have been running (mainly in china) have been very stable and reliable (as far as google translate can tell). Running them in a dust-free datacenter with conditioned power eliminates many of the common causes of hardware failure and should help in keeping the maximum uptime.

We'll have another "bonus" group buy once the rack-mounted gridseed devices become available.  It was too much labor to deal with the round 5-chip USB miners, and their reliability and uptime is suspect at best.

[dyland]

I assume you won't upgrade the shares until you are up and running with this GB, correct?

[MWNinja]

I assume you won't upgrade the shares until you are up and running with this GB, correct?

The upgrade will be processed when we go live. When Group #6 has it's first payout, you will stop getting payouts on the traded-in shares. The trade-in is above market value for the Antminers (as the shares have more value than just the hardware, naturally).

Given the complexity of upgrades and discounts, I'm not looking forward to doing the accounting work that week; fortunately there aren't that many shares this time around.

We're going to be out on Spring Break next week, so please bear with us on timely responses to PM's.  If there are any Ninja owners out in San Diego, I'd love to meetup and grab a beer.

[sf2]

 

[MWNinja]

Looks interesting. So even if you trade in all of ones shares now there will be no loss of weekly income?

Any reason why the hosting obligation is 6 months vice 3 months with the Antminers?

We are trying to make it as painless as possible for members to upgrade to this new, more power efficient hardware so that we can start liquidating the antminers before they become unprofitable to run (the power rates in a top tier data center aren't exactly cheap).  So thats right no loss of weekly income...

We expect this generation of hardware to be profitable to run for at least 12 months; so the 6 month obligation gives us some stability on the space.  Of course INTEL could come up with a 14nm 3D bitcoin ASIC and destroy the market, but I think thats fairly unlikely.

[sf2]

 

[MWNinja]

Been thinking about this upgrade. What's been difficult for me would be the Neptune kicker in the Group Buys 1, 2, and 3. The Neptune adds another 50% to the hashing if and when it does come out. Kind of puts me on the fence.

Seems like the trend now for miners are to have an efficiency of 1w/gh. I'm guessing the Neptune will acheive that or better? If not it wouldn't be competitive and the choice is made.

Let's say that I take the option of after 90 days of hosting to take posession of the S1 or have it sold. Would i still be getting the 100gh of the Neptune or do i forfeit that? I'm thinking that the hosting cost would not go negative yet, just exercising the option.

I'm not sure about GB#1 as the Neptune hosting cost is inclusive but for GB 2 and 3 the Neptune comes as a separate cost.

Thank you.

I would expect the Neptune to perform at at least 1w/gh or better, and wouldn't be surprised if it ended up being 4+TH total; but it could very well be May or June before Group 2 and 3 get their machines. As long as you have met your obligations (either by remaining a hosting customer, or taking physical possession) you will receive your hashes from the Neptune (on group 2-3 only, group 1 is different as the neptune is a bonus for hosting customers only).

[gigacoiner]

So what would happen to the Neptune kickers for Group 1,2,3 if I decided to trade in Group 1, 2, and 3 shares to Group 6?

Been thinking about this upgrade. What's been difficult for me would be the Neptune kicker in the Group Buys 1, 2, and 3. The Neptune adds another 50% to the hashing if and when it does come out. Kind of puts me on the fence.

Seems like the trend now for miners are to have an efficiency of 1w/gh. I'm guessing the Neptune will acheive that or better? If not it wouldn't be competitive and the choice is made.

Let's say that I take the option of after 90 days of hosting to take posession of the S1 or have it sold. Would i still be getting the 100gh of the Neptune or do i forfeit that? I'm thinking that the hosting cost would not go negative yet, just exercising the option.

I'm not sure about GB#1 as the Neptune hosting cost is inclusive but for GB 2 and 3 the Neptune comes as a separate cost.

Thank you.

I would expect the Neptune to perform at at least 1w/gh or better, and wouldn't be surprised if it ended up being 4+TH total; but it could very well be May or June before Group 2 and 3 get their machines. As long as you have met your obligations (either by remaining a hosting customer, or taking physical possession) you will receive your hashes from the Neptune (on group 2-3 only, group 1 is different as the neptune is a bonus for hosting customers only).

[MWNinja]

So what would happen to the Neptune kickers for Group 1,2,3 if I decided to trade in Group 1, 2, and 3 shares to Group 6?

Been thinking about this upgrade. What's been difficult for me would be the Neptune kicker in the Group Buys 1, 2, and 3. The Neptune adds another 50% to the hashing if and when it does come out. Kind of puts me on the fence.

Seems like the trend now for miners are to have an efficiency of 1w/gh. I'm guessing the Neptune will acheive that or better? If not it wouldn't be competitive and the choice is made.

Let's say that I take the option of after 90 days of hosting to take posession of the S1 or have it sold. Would i still be getting the 100gh of the Neptune or do i forfeit that? I'm thinking that the hosting cost would not go negative yet, just exercising the option.

I'm not sure about GB#1 as the Neptune hosting cost is inclusive but for GB 2 and 3 the Neptune comes as a separate cost.

Thank you.

I would expect the Neptune to perform at at least 1w/gh or better, and wouldn't be surprised if it ended up being 4+TH total; but it could very well be May or June before Group 2 and 3 get their machines. As long as you have met your obligations (either by remaining a hosting customer, or taking physical possession) you will receive your hashes from the Neptune (on group 2-3 only, group 1 is different as the neptune is a bonus for hosting customers only).

If you trade them in then I get them...Neptune and all.

[dunchy]

Is there any room to be a bit more generous towards existing clients, let's say for example, a discount on a first digit after decimal not second ?


Are we talking about Bitmain Antminer S2 ?

[MWNinja]

Is there any room to be a bit more generous towards existing clients, let's say for example, a discount on a first digit after decimal not second ?


Are we talking about Bitmain Antminer S2 ?

Our cost per share, not including the free hosting...just hardware alone is 1.616 (you can find this on the blockchain, we are fully transparent in all our dealings). I'd love to be more generous.... if there were room.

These are 28nm, so they will be well under 1000 watts.  The Antminer S2 is likely going to consume more power and fry the cheap power supplies they are including.

[dunchy]

Is there any room to be a bit more generous towards existing clients, let's say for example, a discount on a first digit after decimal not second ?


Are we talking about Bitmain Antminer S2 ?

Our cost per share, not including the free hosting...just hardware alone is 1.616 (you can find this on the blockchain, we are fully transparent in all our dealings). I'd love to be more generous.... if there were room.

These are 28nm, so they will be well under 1000 watts.  The Antminer S2 is likely going to consume more power and fry the cheap power supplies they are including.

Ok, I understand. Thank you for the explanation.

I'd like to jump in for at least 1THs. What I still don't understand is why all the secrecy about manufacturer? Is it a Chinese No-Name 1THS 28nm asic ??

I tried to catch up with all the news about 28nm gear, but it's a nigthmare to follow all the threads. It's like missing 2000 episodes of soap opera and then somebody asks you who was screwing who. No name stolen designs, phishing manufacturers, stolen Skype accounts... The only conclusion I was able to come up with is: WTF IS GOING ON!?!?

[Cheshyr]

@dunchy:  Bitmine has stated that they only have 3 authorized resellers of the A1 chip.  However, these chips perform exactly as you'd expect from an A1, and at least one manufacturer has access to them en mass.  I think there was another party involved in the design of the A1 chip, and they're going to great lengths to preserve their anonymity.  Whatever the reasons, the chips are real, the miners are real, and product is shipping.  This is good news for us, considering the delays involved in the official Bitmine equipment.

[dunchy]

@dunchy:  Bitmine has stated that they only have 3 authorized resellers of the A1 chip.  However, these chips perform exactly as you'd expect from an A1, and at least one manufacturer has access to them en mass.  I think there was another party involved in the design of the A1 chip, and they're going to great lengths to preserve their anonymity.  Whatever the reasons, the chips are real, the miners are real, and product is shipping.  This is good news for us, considering the delays involved in the official Bitmine equipment.

I see. So we're talking about Bitmine.ch A1 chip packed in 1THS machine by someone anonymous? Is this machine also capable of three modes (0.35 / 0.6 / 1 W/GHs) ??

[Cheshyr]

@dunchy:  Bitmine has stated that they only have 3 authorized resellers of the A1 chip.  However, these chips perform exactly as you'd expect from an A1, and at least one manufacturer has access to them en mass.  I think there was another party involved in the design of the A1 chip, and they're going to great lengths to preserve their anonymity.  Whatever the reasons, the chips are real, the miners are real, and product is shipping.  This is good news for us, considering the delays involved in the official Bitmine equipment.

I see. So we're talking about Bitmine.ch A1 chip packed in 1THS machine by someone anonymous? Is this machine also capable of three modes (0.35 / 0.6 / 1 W/GHs) ??

We have not tried overclocking these units, and the modes advertised by bitmine for their A1 chips have proven to be mostly inaccurate anyway.  I have yet to see any evidence of anything below 0.85W/GH.

I think the important part to focus on is, these are real functional miners, producing 1TH using less than 1kW of power.

[dunchy]

We have not tried overclocking these units, and the modes advertised by bitmine for their A1 chips have proven to be mostly inaccurate anyway. 

Why am I not surprised ... Asic manufacturers .... 

Ok. Everything seems clear now .

[dyland]

Hi Ninja:

Don't know if you have seen this already:

http://www.coindesk.com/kncminer-accepting-pre-orders-first-scrypt-miner-titan/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+CoinDesk+%28CoinDesk+-+The+Voice+of+Digital+Currency%29

100Mhs scrypt for $10,000.00 in Q2/Q3. They are also offering to convert Neptunes to Titans. (Tellingly also, KnC has hinted they will begin accepting litecoin at some point in the future.)

Let me know if you are thinking about a GB for these. I'm assuming they'll end up shipping by June/July. 

[dunchy]

Let me know if you are thinking about a GB for these. I'm assuming they'll end up shipping by June/July.

  You are one hell of an optimist

[dyland]

Let me know if you are thinking about a GB for these. I'm assuming they'll end up shipping by June/July.

  You are one hell of an optimist

....my biggest problem.

[nucleon]

Let me add a 'me too'.

I'd been keen to go in a group buy for the KnC scrypt miner. Even if I gather enough funds on my own, I can't personally host one. The stats are insane.

I'd be leaning towards a Aug-Sept release. I'm not that optimistic.

-- Craig

[lostering]

Any update on shipment of the equipments? 

[Cheshyr]

I just sent him tracking.

[suchmoon]

Purchased 2 shares in GB6:

https://blockchain.info/tx/69ff72c71b88ec95eb4279d9ea6854de2619b5a8e24f7148bf03ee7aa37953ed

MWNinja, please let me know if my math here is correct:

2 * 1.646 = 3.292
I'm trading in my 4 shares in GB4: 4 * 0.12 = 0.48
3.292 - 0.48 = 2.812 and I keep free hosting for my GB5 too

If it's not too much trouble, please use 1LoNgtrkC4QFwfVheX3rumi6xLaGuHPJ4P for GB6 dividends (that's where I sent this payment from), and keep using 1BhvKqYiew1ofQPg8L2QdN1W713oPScNG7 for GB4/GB5 dividends.

Thanks.

[dbasql]

Ninja
Sending payment for 8 shares now. 
DBA

[dunchy]

Reserving 4 .. Payment will follow in few hours..

[dunchy]

MWNinja please confirm the following calculations:

4 x 1.646 - 10 (GB#3) x 0.12 = 5.384  BTC is the amount I need to transfer to have in possession one piece of 1THs machine.

Since I haven't used my right from GB#3 shares to claim shares in GB#5, this qualifies me for 4 x 6 = 24 more GB#5 shares (if there will be any more offered).

Also, do you have any experience / knowledge about this equipment ? I'm much more afraid of reliability issues than about possible delay or non-delivery. Will they run 24/7 without any problems?

Your math looks good. 

As far as reliability is concerned, there isn't much history on these machines yet.  The ones that have been running (mainly in china) have been very stable and reliable (as far as google translate can tell). Running them in a dust-free datacenter with conditioned power eliminates many of the common causes of hardware failure and should help in keeping the maximum uptime.

We'll have another "bonus" group buy once the rack-mounted gridseed devices become available.  It was too much labor to deal with the round 5-chip USB miners, and their reliability and uptime is suspect at best.

As agreed. Converted all 10 of my GB#3 shares into 4 GB#6 shares for one BitMain machine. Transferred: 5.384 BTC

TxID:

https://blockchain.info/tx/5e63e57a9a17b6b1ecbc2465485b62cb719878146ae605c58ae9219da413d8c5

[sf2]

 

[sf2]

 

[MWNinja]

We have less than 6 shares remaining.  Last call.

[Cheshyr]

Out of all the shipments from my group buy for these miners, MWNinja's shipment is the only one that does not have US Customs clearance yet.  I'm still chasing down the details.  All other shipments are cleared, so I don't believe there are any specific issues with the shipment other than the size.  However, it appears the units will not arrive by March 25th, so any delays getting the units hashing on his advertised date are not due to any negligence on the part of MWNinja.  It's just Customs.  I only expect it to take another day or two.

[MWNinja]

This Group Buy is now officially closed. I will post the owners list later today.

[newtonfeynman]

Looks like I missed the boat.  Will there be other options in the future to trade in GB 2-3 shares?

[MWNinja]

Sorry about the delay in processing the final list.  The miners are showing up and that takes priority over the paperwork.  I'm going to make the Saturday payout before processing the trade ins and will have the final list for this group buy up by close of day Saturday.

We'll try to make other upgrade options happen in the future. It's difficult with the price of BTC being down so far currently.

Looks like I missed the boat.  Will there be other options in the future to trade in GB 2-3 shares?

[sf2]

 

[MWNinja]

Looks like we're going live. Good Job 

Yup, we've been live from the staging area since last night, lots of noise and heat and not very stable.  Hopefully everything will be much better soon as they are all getting moved into the Datacenter tonight.

[sf2]

 

[MWNinja]

Will this be 9 miners or still waiting for the 10th one?

Can these be overclocked?

Thank you.

It's been scaled back to 9 as we had physical space limitations; this group is fully operational and we are processing all the trade-in orders today (after div payout).

[sf2]

 

[sf2]

 

[lostering]

I am trading in 4 out of my 6 shares in Group Buy 4 (for 4x0.12=.48) and send you BTC1.166 for a total of BTC1.646.

TxID: 98ad70d08edb1e1819cf48e549a8cb408951356fc91c088d79d37c09cdc691fe

Please use: 1BZo9yFt74co9fTYbhiepgCHBtU3ie69Xn (3rd one in blockchain) as the payout address

[davecoin]

MWNinja, will you please change my payout address to the one provided via pm?

address: 1A6BXaKWnaCgggTq3PjxeybEKQTybqmanY

purchase tx: 7d5aca75f6975fe34ae629765b70b0f30da563a7fdab6f7efd804a72aeec1a36

Hopefully no payments have been sent out yet :/

[dyland]

Will this be 9 miners or still waiting for the 10th one?

Can these be overclocked?

Thank you.

It's been scaled back to 9 as we had physical space limitations; this group is fully operational and we are processing all the trade-in orders today (after div payout).

I don't want to sound nit-picky (because I realize it's still a good deal and also because I know you have a lot on your plate), but did we not buy into ~250Ghz per share? With nine (9) miners, would this not be more like ~225Ghz a share?

[sf2]

 

[dyland]

If you count the number of shares next to the payout addresses in the OP it comes out to 36 shares. 4 shares/miner x 9 miners = 36 shares vice the original 40 shares.

Will this be 9 miners or still waiting for the 10th one?

Can these be overclocked?

Thank you.

It's been scaled back to 9 as we had physical space limitations; this group is fully operational and we are processing all the trade-in orders today (after div payout).

I don't want to sound nit-picky (because I realize it's still a good deal and also because I know you have a lot on your plate), but did we not buy into ~250Ghz per share? With nine (9) miners, would this not be more like ~225Ghz a share?

Aha perfect. Thanks for clarfx sf2.

[davecoin]

When are payouts scheduled for this GB?

[MWNinja]

When are payouts scheduled for this GB?

Payouts happen every Saturday.  We do our best to time the payout to when the price of bitcoin is highest for the day, to minimize the pain of the hosting fees. 

[davecoin]

MWNinja, will you please change my payout address to the one provided via pm?

address: 1A6BXaKWnaCgggTq3PjxeybEKQTybqmanY

purchase tx: 7d5aca75f6975fe34ae629765b70b0f30da563a7fdab6f7efd804a72aeec1a36

I can sign a message later if necessary.

Thanks.

[MWNinja]

MWNinja, will you please change my payout address to the one provided via pm?

address: 1A6BXaKWnaCgggTq3PjxeybEKQTybqmanY

purchase tx: 7d5aca75f6975fe34ae629765b70b0f30da563a7fdab6f7efd804a72aeec1a36

I can sign a message later if necessary.

Thanks.

Please sign a message with that statement and send it via PM.  The owners list will get processed for any updates before the first payout goes out tomorrow.

[davecoin]

MWNinja, will you please change my payout address to the one provided via pm?

address: 1A6BXaKWnaCgggTq3PjxeybEKQTybqmanY

purchase tx: 7d5aca75f6975fe34ae629765b70b0f30da563a7fdab6f7efd804a72aeec1a36

I can sign a message later if necessary.

Thanks.

Please sign a message with that statement and send it via PM.  The owners list will get processed for any updates before the first payout goes out tomorrow.

Sent.  Thank you.

[lostering]

Can you update my name on the GB6 owner list when you have a chance before this weekend's payout.

[sf2]

 

[MWNinja]

Yup #3 is a little slow and was really hard to get started.  I'm a little scared to restart him, and I'm not sure that it would make much difference.

Is it me or are one of the workers (#3?) running slow?

[Cheshyr]

Yup #3 is a little slow and was really hard to get started.  I'm a little scared to restart him, and I'm not sure that it would make much difference.

Is it me or are one of the workers (#3?) running slow?

PMed

[sf2]

 

[sf2]

 

[sf2]

 

[sf2]

 

[MWNinja]

What's happening with worker 7?

The miners were being relocated, everything is back up now except worker 3 is being a little bitchy and running less than full speed. 

[terrabyte]

Your miner5.php and miner6.php mining stat pages point to the same Miner5 page.
Also, it hasn't been updated since week 9, and we are on week 12.

Perhaps I'm the only one still doing ROI spreadsheet calculations
But I can't do it when the payments from both come rolled up.

Thanks.

[dunchy]

Your miner5.php and miner6.php mining stat pages point to the same Miner5 page.
Also, it hasn't been updated since week 9, and we are on week 12.

Perhaps I'm the only one still doing ROI spreadsheet calculations
But I can't do it when the payments from both come rolled up.

Thanks.

No you're not I was also meaning to report this. Thanks.

[terrabyte]

No you're not I was also meaning to report this. Thanks.

Ha! So I'm in good company, I see...

[MWNinja]

I totally broke the website by accidentally overwriting the stats6 page. Fixing it is on the todo list.

[sf2]

 

[terrabyte]

I totally broke the website by accidentally overwriting the stats6 page. Fixing it is on the todo list.

I'd settle for just a a quick & dirty list in a post here of what GB#5 and GB#6 each paid out each week per share.
We're 5 weeks behind. I have no idea if #5 is producing or sold off yet, or why this last week's payout went from .0245 btc to .007 btc.

[MWNinja]

Until the site gets fixed, you can see it all on the blockchain

 Group #6 Address https://blockchain.info/address/18NfD3jKwrvoYikCGgn1pjVx8Pq7zoe6KT
 Group #5 Address https://blockchain.info/address/1B5HnZQBAUx4TRWE9rN3jrF7up9Rs49iyi

I totally broke the website by accidentally overwriting the stats6 page. Fixing it is on the todo list.

I'd settle for just a a quick & dirty list in a post here of what GB#5 and GB#6 each paid out each week per share.
We're 5 weeks behind. I have no idea if #5 is producing or sold off yet, or why this last week's payout went from .0245 btc to .007 btc.

[terrabyte]

Until the site gets fixed, you can see it all on the blockchain

 Group #6 Address https://blockchain.info/address/18NfD3jKwrvoYikCGgn1pjVx8Pq7zoe6KT
 Group #5 Address https://blockchain.info/address/1B5HnZQBAUx4TRWE9rN3jrF7up9Rs49iyi

If you look on both of those links, you will see that the main payout sections to people , are the same on both pages.

Please look at 7/22's payout from account,
a6c04d203a17dfd197aaaa5de20006b778b72068cc12b8011564f993600e6242

I see my account in there (1QG58i...) receiving an amount (0.01806...)
It matches what I see in my wallet. I assume this is the merged amount, because it's all I get.
This transaction/amount for 7/22 I just pointed out is the same in both links you gave us.

So I'm not sure where the split from #5 or #6 is showing up on the blockchain.
Maybe there is some laundering before-hand I'm not following?

[MWNinja]

https://blockchain.info/tx/a6c04d203a17dfd197aaaa5de20006b778b72068cc12b8011564f993600e6242

If you look at the TX you'll see your address in there 2x, once for group 5 and once for group 6.  We use a single transaction to manage payouts so we have less back and forth to the cold storage wallet.

Until the site gets fixed, you can see it all on the blockchain

 Group #6 Address https://blockchain.info/address/18NfD3jKwrvoYikCGgn1pjVx8Pq7zoe6KT
 Group #5 Address https://blockchain.info/address/1B5HnZQBAUx4TRWE9rN3jrF7up9Rs49iyi

If you look on both of those links, you will see that the main payout sections to people , are the same on both pages.

Please look at 7/22's payout from account,
a6c04d203a17dfd197aaaa5de20006b778b72068cc12b8011564f993600e6242

I see my account in there (1QG58i...) receiving an amount (0.01806...)
It matches what I see in my wallet. I assume this is the merged amount, because it's all I get.
This transaction/amount for 7/22 I just pointed out is the same in both links you gave us.

So I'm not sure where the split from #5 or #6 is showing up on the blockchain.
Maybe there is some laundering before-hand I'm not following?

[railzand]

Should we think about selling these rigs now?

[sf2]

 

[MWNinja]

We still have 2 more months of hosting obligation, after that we can consider liquidating.  I'd recommend those that didn't pre-pay the hosting to pay for the remaining 2 months @ $75/mo per share.  Please PM me and I can get you an invoice Paypal/ACH/Bitcoin accepted.

We'll make several options available when this group completes; it's in your best interest not to default.

A. Buy your shares for xxx btc (market value of hardware - NOC pull fees)
B. Continue hosting your shares at a very competitive price/mo (pre-paid, month-to-month)
C. Get physical delivery of the Machine ($99 fee plus shipping label)
D. Trade-in credit toward a hashing contract on more efficient hardware.
 

[dbasql]

We still have 2 more months of hosting obligation, after that we can consider liquidating.  I'd recommend those that didn't pre-pay the hosting to pay for the remaining 2 months @ $75/mo per share.  Please PM me and I can get you an invoice Paypal/ACH/Bitcoin accepted.

We'll make several options available when this group completes; it's in your best interest not to default.

A. Buy your shares for xxx btc (market value of hardware - NOC pull fees)
B. Continue hosting your shares at a very competitive price/mo (pre-paid, month-to-month)
C. Get physical delivery of the Machine ($99 fee plus shipping label)
D. Trade-in credit toward a hashing contract on more efficient hardware.
 

Can you expand a bit on this? I don't know if I already paid or not and don't want to default. I sent you an email regarding this as well.
It looks like we are still covering the cost of electricity but what happens after that? Are you saying we need to send USD for electric? If so for how long?

[urbanBTC]

We still have 2 more months of hosting obligation, after that we can consider liquidating.  I'd recommend those that didn't pre-pay the hosting to pay for the remaining 2 months @ $75/mo per share.  Please PM me and I can get you an invoice Paypal/ACH/Bitcoin accepted.

We'll make several options available when this group completes; it's in your best interest not to default.

A. Buy your shares for xxx btc (market value of hardware - NOC pull fees)
B. Continue hosting your shares at a very competitive price/mo (pre-paid, month-to-month)
C. Get physical delivery of the Machine ($99 fee plus shipping label)
D. Trade-in credit toward a hashing contract on more efficient hardware.
 

Can you expand a bit on this? I don't know if I already paid or not and don't want to default. I sent you an email regarding this as well.
It looks like we are still covering the cost of electricity but what happens after that? Are you saying we need to send USD for electric? If so for how long?

He want yous to do A or D most likelys.  These are no costs to yous.

Be carefuls on D he tried to do a S3 contract.  He mades claims and ignored me instead of backing ups.  Avoid his contract like Ebola tills he proves claims made in thread now hidden in another parts of forum. https://bitcointalk.org/index.php?topic=715299.msg8130358#msg8130358

[MWNinja]

Sorry I missed your email, and please ignore the troll as I have. 

We're getting perilously close, particularly with the next difficulty adjustment to not being able to fully cover the electricity costs.  A few owners have pre-paid to the end of term (7 weeks to go); to avoid any possibility of forfeit due to non payment of hosting fees, I'm recommending everyone pay until the end of the contracted term.  Once the term is up we will neatly and cleanly wind-up the group buy, sending hardware out to those that want it, buying back from those that don't, and providing hosting to those that want to keep running.

The current remaining hosting cost is $121.24 per share to cover hosting to the end of the term. We can accept payment in a number of ways, send me a PM to get started.

[sf2]

 

[MWNinja]

Taking a USD loss but obtaining btc as a side benefit, we do it for love?

If you think the price of BTC is going to go up in the next few weeks its greatly to your benefit to pay your hosting. In 7 weeks this hardware should still be worth $800 a machine I would think. Plus the way the payouts work those that prepay get a pretty sweet deal (btc credit at market rate).

[urbanBTC]

MWNinja, what is the reasoning to knowingly mine in the red?

They Ninjas read other threads.  Theys sneaky.

I thinks they do it hoping people default, and free machine for them.  They can add it to theirs new cloud project at no cost.  They avoid manys questions on their failed S3 group buy cloud. 

Tricky words and do not back up claims, they ignore valid questions.  Stills waiting on proof Bitmain backed your S3 claim of no downtime as I read it.  Which i think was worded trickys.  Also in their group buy they sneaks like ninja after 6 months you own nothing in a buys.   

With current path are wes really surprised they are making it so peoples can lose share so they come out on top?

[dbasql]

PM sent.

[MWNinja]

Dividend payment sent; 6 weeks remaining.

Datacenter mining is great when you have the newest, most efficient miner.  Once the equipment ages the margins get too tight and we end up upside down on the hosting.

We're working on a new low cost solution, which won't be nearly as reliable as being in a datacenter - but will have significantly lower costs overall. The first prototype NinjaPOD should be coming online right about when this group finishes up. We found a home for the first batch of NinjaPODs in a part of Phoenix that has lower priced electric utility; downside is that it's an hour away.  Pricing is TBD until we finish up the engineering and figure out how low of a PUE we can obtain. 


Stay tuned...

[sf2]

 

[dbasql]

PM sent time to wrap this bad boy up.

[MWNinja]

PM sent time to wrap this bad boy up.

Agreed.  I'll post shipping label instructions later today.  These unit will ship out on Wednesday (we're headed to inside bitcoins for the first part of next week).

Options are going to be as follows:

1. Owners with Multiples of 4 shares -  Send a shipping label and take the hardware. Details on dimensions/weights to be posted later today. The $99 NOC fee is waived for those that prepaid hosting.
2. Buyback at market rate of the hardware less $99 NOC fees (will be waived for those that pre-paid hosting).  Currently around .2/BTC per share, but will be calculated Wednesday when the buyback completes.

A final payout will go out Wednesday and the machines will be pulled offline at that time. 

[railzand]

1. Owners with Multiples of 4 shares -  Send a shipping label and take the hardware. Details on dimensions/weights to be posted later today. The $99 NOC fee is waived for those that prepaid hosting.
2. Buyback at market rate of the hardware less $99 NOC fees (will be waived for those that pre-paid hosting).  Currently around .2/BTC per share, but will be calculated Wednesday when the buyback completes.

Option 2 please.

[railzand]

1. Owners with Multiples of 4 shares -  Send a shipping label and take the hardware. Details on dimensions/weights to be posted later today. The $99 NOC fee is waived for those that prepaid hosting.
2. Buyback at market rate of the hardware less $99 NOC fees (will be waived for those that pre-paid hosting).  Currently around .2/BTC per share, but will be calculated Wednesday when the buyback completes.

Option 2 please.

received with many thanks

[dbasql]

Are we going to see option one? I have not seen a shipping label option. As I see it the hardware is worth about $1k per box street value. At .8 per unit that is less than half. I would rather get the units, sell them and buy 2 coins per unit. I may be overlooking something or maybe I am not understanding you correctly.

If you have shipped any already just let me know what the shipping costs and I can send you the BTC obviously trust is not an issue.

[MWNinja]

Buyback completed here: https://blockchain.info/tx/fd0cd829af14ccb7c0f778c3fff42894f8db481a6cb6cd2b7a6677337a548e8f

Happy to ship you (or your ebay buyer) hardware, just refund the buyback and pay the shipping. We haven't seen hardly any demand trying to sell them off, best offer I have gotten so far is $500 per unit. Maybe you'll have better luck.

[dbasql]

Buyback completed here: https://blockchain.info/tx/fd0cd829af14ccb7c0f778c3fff42894f8db481a6cb6cd2b7a6677337a548e8f

Happy to ship you (or your ebay buyer) hardware, just refund the buyback and pay the shipping. We haven't seen hardly any demand trying to sell them off, best offer I have gotten so far is $500 per unit. Maybe you'll have better luck.

Okay thanks for the clarification can you please answer the other question in my PM? We didn't have much feedback posted here so just checking in.

[Flep182]

Ninja, any updates here?

[Flep182]

Ninja, any updates here?

https://bitcointalk.org/index.php?action=trust;u=83710

As promised