[OPEN] A2 86mh/s Terminator Hosted Groupbuy *Price Protection*

[cooldgamer]

THREAD MOVED HERE

I'm very happy to announce recently becoming the hosted groupbuy provider of pcfli.  This means you can get in on the cutting edge of Scrypt ASICs while spending less money than a gridseed!

Payment address for shares: 1QBxTsfzSvPoHh7vstG5QKTjAEaMRbwkau

Price: $51.50 Bitstamp for a 344kh/s+ share, each representing .4% of the whole device

Shipping time: Up and running within 48 hours of final payment

Miners purchased: 0

Slots Left on current miner: 249/250

Hosting: 90 days hosted in China, then shipped over here to a buyer at the end.  At any the device may be sold early if the majority of the shareholders vote to.  For every full month left in hosting, $175 will be refunded to the shareholders.

Price Protection: Yes, price drops between now and purchase time will be refunded

Fees: .001 to transfer shares, everything else included in share price

Pool: Leaserig and ghash.io multipool

Payouts: Automated daily with ghash.io payouts

Share Transfers: Allowed at any time with a payout address/PGP signed PM.

Google Doc: Here

IMPORTANT: after purchasing shares, please PM me with the TxID, payout address, and the subject '90MH TERMINATOR ROUND 1 SHARES' (yes, in all caps).  This makes it easier for me to look back in PMs for relevant messages and makes sure I see the purchase

Hardware and hosting will be provided by pcfli, he'll be posting in here shortly with his terms.  There is no limit for how many of these he can host, so as soon as one round finishes another will open.  Scrypt.cc is trading at about twice this price, so if you want cloudhashing this is the best place to get it.

Disclaimer: Mining is a risky investment, please don't invest your rent, food money, etc.  I am not responsible for things out of my control, such as pool owners running with coins, mining profitability dropping, etc.

Edited for adjusting share price after removing escrow

[ranlo]

I'm very happy to announce recently becoming the hosted groupbuy provider of pcfli.  This means you can get in on the cutting edge of Scrypt ASICs while spending less money than a gridseed!


Price: $52.50 Bitstamp for a 344kh/s+ share, each representing .4% of the whole device

Shipping time: Up and running within 48 hours of final payment

Miners purchased: 0

Slots Left on current miner: 250/250

Hosting: 90 days hosted in China, then shipped over here to a buyer at the end

Escrow: Yes, provided by OGnasty.  He'll be posting in here soon.  Fee is included in share price.

Price Protection: Yes, price drops between now and purchase time will be refunded

Fees: .001 to transfer shares, everything else included in share price

Pool: Leaserig and ghash.io multipool

Payouts: Automated daily with ghash.io payouts

Share Transfers: Allowed at any time with a payout address/PGP signed PM.

Hardware and hosting will be provided by pcfli, he'll be posting in here shortly with his terms.  There is no limit for how many of these he can host, so as soon as one round finishes another will open.  Scrypt.cc is trading at about twice this price, so if you want cloudhashing this is the best place to get it.

Disclaimer: Mining is a risky investment, please don't invest your rent, food money, etc.  I am not responsible for things out of my control, such as pool owners running with coins, mining profitability dropping, etc.

Payment address for non-escrow: 1QBxTsfzSvPoHh7vstG5QKTjAEaMRbwkau

Is the ASIC already ready to rock, or did you just put in a preorder? If the latter, what's the ETA?

[pcfli]

Thanks for trust, i will try my best to let the miner run as stable as a stone

[cooldgamer]

I'm very happy to announce recently becoming the hosted groupbuy provider of pcfli.  This means you can get in on the cutting edge of Scrypt ASICs while spending less money than a gridseed!


Price: $52.50 Bitstamp for a 344kh/s+ share, each representing .4% of the whole device

Shipping time: Up and running within 48 hours of final payment

Miners purchased: 0

Slots Left on current miner: 250/250

Hosting: 90 days hosted in China, then shipped over here to a buyer at the end

Escrow: Yes, provided by OGnasty.  He'll be posting in here soon.  Fee is included in share price.

Price Protection: Yes, price drops between now and purchase time will be refunded

Fees: .001 to transfer shares, everything else included in share price

Pool: Leaserig and ghash.io multipool

Payouts: Automated daily with ghash.io payouts

Share Transfers: Allowed at any time with a payout address/PGP signed PM.

Hardware and hosting will be provided by pcfli, he'll be posting in here shortly with his terms.  There is no limit for how many of these he can host, so as soon as one round finishes another will open.  Scrypt.cc is trading at about twice this price, so if you want cloudhashing this is the best place to get it.

Disclaimer: Mining is a risky investment, please don't invest your rent, food money, etc.  I am not responsible for things out of my control, such as pool owners running with coins, mining profitability dropping, etc.

Payment address for non-escrow: 1QBxTsfzSvPoHh7vstG5QKTjAEaMRbwkau

Is the ASIC already ready to rock, or did you just put in a preorder? If the latter, what's the ETA?

Ready to go within 48 hours of filling up, no pre-order here

[railzand]

Congrats. Very interested. Your other group buy that I'm in works superb.
Why did Og say no? laziness? I won't be needing escrow anyway.
What happens after the 90 days?

[cooldgamer]

Congrats. Very interested. Your other group buy that I'm in works superb.
Why did Og say no? laziness? I won't be needing escrow anyway.
What happens after the 90 days?

He said that since it was hosted, he didn't think escrow would give much protection.  He may be right, but the option will still be there for customers that feel nervous about investing.

At the end of the 90 days I sell it and the profits are split up.

[DannyHamilton]

Message sent to cooldgamer:

I'm still trying to decide if if makes sense to escrow this transaction.

To assist me in the decision, what are the specific conditions of escrow release?

In particular, under what conditions would escrow be released back to the purchasers, and at what time would the escrow be released to the seller?

It seems like escrow would need to be held all the way until the end of the 90 days, right?  That way partial escrow could be refunded to the buyers if the hosting provider becomes unable to provide 100% uptime (natural disaster, government intrusion, equipment failure, theft, fraud, etc).

Will the buyers only receive the mined coins, or will they also receive an equal share of the sale of the equipment at the end of the mining period?  If they are receiving an equal share of the sale of the equipment, then it seems that escrow would not be able to be released until after the equipment sells.  What if the equipment is lost, damaged, or otherwise fails to sell?  Who is responsible for covering that loss?

[cooldgamer]

Message sent to cooldgamer:

I'm still trying to decide if if makes sense to escrow this transaction.

To assist me in the decision, what are the specific conditions of escrow release?

In particular, under what conditions would escrow be released back to the purchasers, and at what time would the escrow be released to the seller?

It seems like escrow would need to be held all the way until the end of the 90 days, right?  That way partial escrow could be refunded to the buyers if the hosting provider becomes unable to provide 100% uptime (natural disaster, government intrusion, equipment failure, theft, fraud, etc).

Will the buyers only receive the mined coins, or will they also receive an equal share of the sale of the equipment at the end of the mining period?  If they are receiving an equal share of the sale of the equipment, then it seems that escrow would not be able to be released until after the equipment sells.  What if the equipment is lost, damaged, or otherwise fails to sell?  Who is responsible for covering that loss?

PM'd you back.  The escrow would only be for until we got up and mining to prove that we bought the hardware, not the whole groupbuy term.  I don't know if this would make people feel any safer buying in, but the option should be there if possible

[DannyHamilton]

PM'd you back.  The escrow would only be for until we got up and mining to prove that we bought the hardware, not the whole groupbuy term.  I don't know if this would make people feel any safer buying in, but the option should be there if possible

How would it be determined (proven) that you "got up and mining" and that you "bought the hardware"?

Obviously a post saying "Hey everyone, I just paid for the hardware, and it is now mining" isn't reasonable proof.  Receiving a small payout or two isn't exactly reasonable proof either.  I'm trying to understand what protection escrow is actually going to provide to the buyers.

At this point, as far as I can tell, the only protection provided is the guarantee of a partial refund if the exchange rate changes significantly between the time of escrow funding and the time of the actual purchase?  How do you plan to handle the situation where a change in the exchange rate requires additional funding beyond what has already been paid?

[cooldgamer]

PM'd you back.  The escrow would only be for until we got up and mining to prove that we bought the hardware, not the whole groupbuy term.  I don't know if this would make people feel any safer buying in, but the option should be there if possible

How would it be determined (proven) that you "got up and mining" and that you "bought the hardware"?

Obviously a post saying "Hey everyone, I just paid for the hardware, and it is now mining" isn't reasonable proof.  Receiving a small payout or two isn't exactly reasonable proof either.  I'm trying to understand what protection escrow is actually going to provide to the buyers.

At this point, as far as I can tell, the only protection provided is the guarantee of a partial refund if the exchange rate changes significantly between the time of escrow funding and the time of the actual purchase?  How do you plan to handle the situation where a change in the exchange rate requires additional funding beyond what has already been paid?

It would be proven by a link to the Leaserig site where you could see a graph of the hashrate on it.  While it won't provide long-term protection for the groupbuy, it would at least protect buyers from if we were to run off after we raised the 12k.  Then again, we could just as easily run off after we mined for a few hours, so I see your point.  As for your point about funding, having the money in escrow would keep us from converting to fiat, which would end up creating another problem.

It's looking like the best way to go forward with this is to just do it without a escrow.  Thanks for your time

[DannyHamilton]

It would be proven by a link to the Leaserig site where you could see a graph of the hashrate on it.  While it won't provide long-term protection for the groupbuy, it would at least protect buyers from if we were to run off after we raised the 12k.  Then again, we could just as easily run off after we mined for a few hours, so I see your point.  As for your point about funding, having the money in escrow would keep us from converting to fiat, which would end up creating another problem.

It's looking like the best way to go forward with this is to just do it without a escrow.  Thanks for your time

Yes, we can see now why OGnasty chose not to get involved.

If there are any real protections that escrow can provide to buyers, and if there are solutions to issues with exchange rate fluctuations, I'm willing to hold escrow, but I don't want to provide a false sense of security.

[cooldgamer]

Price has been bumped down to $51.50 per share

[cooldgamer]

Daily bump for cheap mining

[Flep182]

I would be a bit afraid that after hosting you can't sell the machine for what it cost, as is atm with for example the gridseeds. Once there are more than a few machines on the market they will start dropping prices hard I assume.

[cooldgamer]

I would be a bit afraid that after hosting you can't sell the machine for what it cost, as is atm with for example the gridseeds. Once there are more than a few machines on the market they will start dropping prices hard I assume.

What happens with profitability is anybody's guess, but that's the nature of mining.  One thing to take into consideration is the fact that this machine has the lowest power consumption on the market right now.  This means mining will be viable for longer, so we'll be able to fetch more for it at the end.

As I've said in my groupbuys before, I make no claims on if I think we will ROI or not.  What I do know is that unless you're dropping the cash for one of the really powerful miners, this is the best price you'll get.  Going off the cheapest secondhand Gridseeds I could find, the same amount of mining power would cost $57.33, and that doesn't even include the power cables+control unit+USB hub+shipping, plus you have to host them yourself!  To top it off, their high power use would probably make them close to obsolete in 90 days.  Even if we step it up, a 13mh/s hosted miner at Gaw would cost $52.92 for the same amount with a 2.5% hosting fee.  That's a pre-order by the way, not up until the second of next month.

[ranlo]

I would be a bit afraid that after hosting you can't sell the machine for what it cost, as is atm with for example the gridseeds. Once there are more than a few machines on the market they will start dropping prices hard I assume.

What happens with profitability is anybody's guess, but that's the nature of mining.  One thing to take into consideration is the fact that this machine has the lowest power consumption on the market right now.  This means mining will be viable for longer, so we'll be able to fetch more for it at the end.

As I've said in my groupbuys before, I make no claims on if I think we will ROI or not.  What I do know is that unless you're dropping the cash for one of the really powerful miners, this is the best price you'll get.  Going off the cheapest secondhand Gridseeds I could find, the same amount of mining power would cost $57.33, and that doesn't even include the power cables+control unit+USB hub+shipping, plus you have to host them yourself!  To top it off, their high power use would probably make them close to obsolete in 90 days.  Even if we step it up, a 13mh/s hosted miner at Gaw would cost $52.92 for the same amount with a 2.5% hosting fee.  That's a pre-order by the way, not up until the second of next month.

I think that the best way to handle this is to have a vote later on (when profitability starts to decline) to determine when to sell it. Each share would equal one vote, and it could mine while it is on the market. When it sells, the proceeds would be split according to shares.

[cooldgamer]

I would be a bit afraid that after hosting you can't sell the machine for what it cost, as is atm with for example the gridseeds. Once there are more than a few machines on the market they will start dropping prices hard I assume.

What happens with profitability is anybody's guess, but that's the nature of mining.  One thing to take into consideration is the fact that this machine has the lowest power consumption on the market right now.  This means mining will be viable for longer, so we'll be able to fetch more for it at the end.

As I've said in my groupbuys before, I make no claims on if I think we will ROI or not.  What I do know is that unless you're dropping the cash for one of the really powerful miners, this is the best price you'll get.  Going off the cheapest secondhand Gridseeds I could find, the same amount of mining power would cost $57.33, and that doesn't even include the power cables+control unit+USB hub+shipping, plus you have to host them yourself!  To top it off, their high power use would probably make them close to obsolete in 90 days.  Even if we step it up, a 13mh/s hosted miner at Gaw would cost $52.92 for the same amount with a 2.5% hosting fee.  That's a pre-order by the way, not up until the second of next month.

I think that the best way to handle this is to have a vote later on (when profitability starts to decline) to determine when to sell it. Each share would equal one vote, and it could mine while it is on the market. When it sells, the proceeds would be split according to shares.

I like this idea... I like it a lot.  Updating OP now since no shares have been purchased yet

[ranlo]

I would be a bit afraid that after hosting you can't sell the machine for what it cost, as is atm with for example the gridseeds. Once there are more than a few machines on the market they will start dropping prices hard I assume.

What happens with profitability is anybody's guess, but that's the nature of mining.  One thing to take into consideration is the fact that this machine has the lowest power consumption on the market right now.  This means mining will be viable for longer, so we'll be able to fetch more for it at the end.

As I've said in my groupbuys before, I make no claims on if I think we will ROI or not.  What I do know is that unless you're dropping the cash for one of the really powerful miners, this is the best price you'll get.  Going off the cheapest secondhand Gridseeds I could find, the same amount of mining power would cost $57.33, and that doesn't even include the power cables+control unit+USB hub+shipping, plus you have to host them yourself!  To top it off, their high power use would probably make them close to obsolete in 90 days.  Even if we step it up, a 13mh/s hosted miner at Gaw would cost $52.92 for the same amount with a 2.5% hosting fee.  That's a pre-order by the way, not up until the second of next month.

I think that the best way to handle this is to have a vote later on (when profitability starts to decline) to determine when to sell it. Each share would equal one vote, and it could mine while it is on the market. When it sells, the proceeds would be split according to shares.

I like this idea... I like it a lot.  Updating OP now since no shares have been purchased yet

I was going to help try to come up with more specifics (as to when the voting would be initialized) but that's a tough one. The best plan is to come up with something that's kind of like the spark. "if x happens, the voting becomes active." This helps give a more strict set of rules and ensures everyone is on the same page. The things I came up with are:

1) Network hash rate hits x
2) ASICs from x are released (or at x hash rate are shipped)
3) Profitability hits x threshold

[cooldgamer]

I would be a bit afraid that after hosting you can't sell the machine for what it cost, as is atm with for example the gridseeds. Once there are more than a few machines on the market they will start dropping prices hard I assume.

What happens with profitability is anybody's guess, but that's the nature of mining.  One thing to take into consideration is the fact that this machine has the lowest power consumption on the market right now.  This means mining will be viable for longer, so we'll be able to fetch more for it at the end.

As I've said in my groupbuys before, I make no claims on if I think we will ROI or not.  What I do know is that unless you're dropping the cash for one of the really powerful miners, this is the best price you'll get.  Going off the cheapest secondhand Gridseeds I could find, the same amount of mining power would cost $57.33, and that doesn't even include the power cables+control unit+USB hub+shipping, plus you have to host them yourself!  To top it off, their high power use would probably make them close to obsolete in 90 days.  Even if we step it up, a 13mh/s hosted miner at Gaw would cost $52.92 for the same amount with a 2.5% hosting fee.  That's a pre-order by the way, not up until the second of next month.

I think that the best way to handle this is to have a vote later on (when profitability starts to decline) to determine when to sell it. Each share would equal one vote, and it could mine while it is on the market. When it sells, the proceeds would be split according to shares.

I like this idea... I like it a lot.  Updating OP now since no shares have been purchased yet

I was going to help try to come up with more specifics (as to when the voting would be initialized) but that's a tough one. The best plan is to come up with something that's kind of like the spark. "if x happens, the voting becomes active." This helps give a more strict set of rules and ensures everyone is on the same page. The things I came up with are:

1) Network hash rate hits x
2) ASICs from x are released (or at x hash rate are shipped)
3) Profitability hits x threshold

I don't see why we need to overcomplicate it, if the majority of the shareholders want to sell then we should sell.  Also added that $175 will be added to the final sale payout for every full month left on hosting.

[ranlo]

I would be a bit afraid that after hosting you can't sell the machine for what it cost, as is atm with for example the gridseeds. Once there are more than a few machines on the market they will start dropping prices hard I assume.

What happens with profitability is anybody's guess, but that's the nature of mining.  One thing to take into consideration is the fact that this machine has the lowest power consumption on the market right now.  This means mining will be viable for longer, so we'll be able to fetch more for it at the end.

As I've said in my groupbuys before, I make no claims on if I think we will ROI or not.  What I do know is that unless you're dropping the cash for one of the really powerful miners, this is the best price you'll get.  Going off the cheapest secondhand Gridseeds I could find, the same amount of mining power would cost $57.33, and that doesn't even include the power cables+control unit+USB hub+shipping, plus you have to host them yourself!  To top it off, their high power use would probably make them close to obsolete in 90 days.  Even if we step it up, a 13mh/s hosted miner at Gaw would cost $52.92 for the same amount with a 2.5% hosting fee.  That's a pre-order by the way, not up until the second of next month.

I think that the best way to handle this is to have a vote later on (when profitability starts to decline) to determine when to sell it. Each share would equal one vote, and it could mine while it is on the market. When it sells, the proceeds would be split according to shares.

I like this idea... I like it a lot.  Updating OP now since no shares have been purchased yet

I was going to help try to come up with more specifics (as to when the voting would be initialized) but that's a tough one. The best plan is to come up with something that's kind of like the spark. "if x happens, the voting becomes active." This helps give a more strict set of rules and ensures everyone is on the same page. The things I came up with are:

1) Network hash rate hits x
2) ASICs from x are released (or at x hash rate are shipped)
3) Profitability hits x threshold

I don't see why we need to overcomplicate it, if the majority of the shareholders want to sell then we should sell.  Also added that $175 will be added to the final sale payout for every full month left on hosting.

Because how else do you determine when it's time to sell? Just watching what is said in the thread doesn't really validate the majority's opinion. You can end up having many polls as a result, all of them failing because a few people want to sell and the majority don't.