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

[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.

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[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