all finished

[Josepht]

Only sell it for BTC.

[theGus]

I think sell it too.

We're never gonna break even. I reckon we should just minimize our loss by selling everything we can. I have 2 shares and I've received ~<10 ever since payouts started. We're making pittance because of KNC's shitty operations

[pist0la]

I would avoid PayPal, personally. Maybe offer $1,700 paid in BTC? Circle is very easy to use if the buyer has no coin.

[mammon]

I think selling is a good idea, but getting payed through paypal can be a risk.
Paypal allows a transaction to be CC backed when the receiver claims its broken or
not what he ordered.

[silversurfer1958]

I'll go with the flow on whether to sell or not, maybe mothball them see what happens to future price or....I'm easy either way.

What to do with the money? well, one idea might be to reinvest it in alternative energy sources, wind, solar or veg oil diesel, find some land somewhere to install it and host other people's mining equipment using our alternative energy supplies.
As difficulties increase, mining equipment is going to end up unusable because of electricity costs, we can either buy it up cheap, or, host other people's units and run them literally till they fall to pieces.
Anyone in the group with some land to set this up ?

Solar
http://www.ebay.com/itm/100W-200W-400W-500W-1000W-12V-poly-solar-panel-polyscrystalline-solar-module-/320899957739

Wind
http://www.ebay.com/sch/i.html?_from=R40&_trksid=p2047675.m570.l1313.TR11.TRC1.A0.H0.Xwind+generator&_nkw=wind+generator&_sacat=0

Veg Oil
https://www.google.com/search?q=veg+oil+diesel+generator&ie=

If we reinvested, we could start small and grow it into something big.

[deeneendo]

can I have some of what you're smoking?

 

[silversurfer1958]

Certainly, You can have some Veg oil Biodiesel fumes for 1.35BTC per Cubic Meter,
you'll have to pay for delivery though   

[pist0la]

If we are going to sell them off we should put at least one on ebay and see what comes of it.

Use the proceeds to buy hard drives and start mining BURST 

[BassToad]

How high does LTC have to climb for it to be profitable to mine again? I'd prefer to wait and resume mining rather than selling at a huge loss.

[A_Free_Man]

How high does LTC have to climb for it to be profitable to mine again? I'd prefer to wait and resume mining rather than selling at a huge loss.

Mining or Selling it's a huge loss, money is better than no money.

[theGus]

Waldo, the last payout I received was on 8th Jan. Have you since then turned off the miners?

[pist0la]

Has the Srypt-N option been explored at all? Are the Titans actually capable of mining Scrypt-N?

[A_Free_Man]

Waldo, the last payout I received was on 8th Jan. Have you since then turned off the miners?

Read the thread before asking questions, Miners were turned off because mining revenue - electrical costs = loss.

[dman99]

You're doing exactly what I would recommend.  Continue mining with the Titans while also keeping an open ear for any buyers.  Selling and getting back a small percentage of our money now is better than having the Titans sitting around doing nothing in the future.

$1500 of Bitcoin right now is about 5.6 BTC.  I believe each Titan was originally ~20 BTC.  So, with this sale, we're looking at getting back about 25% of our investment for this Titan.

In a perfect world with no energy costs and perfect 300Mh/s per Titan, a Titan would generate about 0.056BTC a day. So it would take a Titan about 100 days to generate the same amount of BTC (again, that's in a perfect world with no electricity costs or speed/difficulty variances).  So yeah, I think selling was the right call there.

[deeneendo]

I agree with the above poster 100%.

Good job waldohoover, thanks for pulling that through!

[deeneendo]

go ahead, nearly 6 BTC is more than that machine will ever be able to mine!

[mammon]

Hi Waldo,

I think it's a good deal. I hope you can sell the unit.
We are better of selling them then wasting electricity.

[deeneendo]

good news, thanks for the update!

[deeneendo]

hey waldohoover,

I think you have been handling this as well as possible, so I am all for letting you decide on the best way to proceed.

It would be unfair to sell the defective units without informing the buyer and giving him a discount.

On the other hand, not taking up KnC's offer (which I guess is what they expect people will do), will mean that they can evade making things right for their customers. Their track record for doing that sucks anyway.

If the buyer agrees to take it upon himself to either accept the lack of performance or battle it out with KnC customer sodomy, errrm support, it is their choice. I wouldn't bother with it. By the time they send the unit back, it will probably only serve as a hamster cage.

But I will leave it up to you to take the decision.

Thanks, and may luck be upon us to limit the loss as far as possible.

[tke248]

my mistake thanks for the quick response