[796.com] RedStarMining.com - the oldest public mining security [15.0(TH/s)]

[runam0k]

Seems sensible. VAT in the UK - 20% - sucks.

[Evolvex]

Bloody VAT

I'm not sure that, given say 6 months, we would have to pay VAT, as the person shipping to you wouldn't be "selling it" to you - does VAT apply on things being sent elsewhere even if its not being "sold" (prob not wording myself very well, but I'm not sure VAT would apply in that case as it no longer a sale being made?).

How much did you say KNC were offering to host for? didnt you say $350 a month?

Not sure about the hosting at KNC at the price, but yes, seems like a good idea to ask canth to order them .

[canth]

I'm not the best to address VAT since I'm from the USA, but as I understand, it has to be paid for or accounted for when going through customs. If it isn't, the goods sit and wait until someone shows up with a money order.

KnC is offering a 6 month hosting plan for $2200 or $366/mo. I feel that this is a good value for the first 6 months since you can avoid shipping costs, time in transit and if there are any hardware instability issues then KnC can address it quickly. After 6 months, it's probably wiser to host locally in the UK or the US, unless BTC/fiat value has shot through the roof by then.

Regarding ordering - I'm happy to take care of this. I've provided Matthew with my personal details and KnC will be aware of RSM's stake in these orders.

[matthewh3]

I'm not the best to address VAT since I'm from the USA, but as I understand, it has to be paid for or accounted for when going through customs. If it isn't, the goods sit and wait until someone shows up with a money order.

KnC is offering a 6 month hosting plan for $2200 or $366/mo. I feel that this is a good value for the first 6 months since you can avoid shipping costs, time in transit and if there are any hardware instability issues then KnC can address it quickly. After 6 months, it's probably wiser to host locally in the UK or the US, unless BTC/fiat value has shot through the roof by then.

Regarding ordering - I'm happy to take care of this. I've provided Matthew with my personal details and KnC will be aware of RSM's stake in these orders.

So yeah if we could pay you to upgrade the Saturn to the Jupiter and then have it transferred to its own new account where we could pre-order our second Jupiter from.

[matthewh3]

Email from BFL

Matt,
Shipping fees paid for orders changed to hosting are used toward the first month(s) of hosting.

Here is the latest information on the hosting service.

We have been working very hard over the past few months to not only alleviate our power consumption problems, but because of those power consumption issues and re-designed form factors of our machines, we have also had to revise our hosting options.
Many of you have been aware of the increase in hosting costs as a result of the change in size of many and number of our machines.

To recap the new pricing:
5-7 GH/s Bitcoin Miners $50/machine per month
25-30 GH/s Bitcoin Miners $65/machine per month
50-60 GH/s Bitcoin Miners $100/machine per month
500 GH/s Bitcoin Miners $625/machine per month
1,500 GH/s Bitcoin Miners $625/machine per month for a total of $1875

We apologize for the delays in communication about this program. It has taken awhile to contract with a vendor that could handle not only the additional power and space requirements.
The name of the company we are working with is J Morgan & Associates, LLC. They are located here in Kansas City. This will help to facilitate timely installation of machines upon completion of manufacturing.
What do you need to do next?
Please visit their website at: kcmocolo.com. They have all of our products displayed. Click on the Pricing tab. You will then be able to click on the machine type you are going to have hosted. You will be able to input your BFL order number(s) and officially reserve your place with the hosting company.
You will be able to pay for hosting in numerous ways including credit card and Bitcoin.
We appreciate your patience and understanding during this exciting time.
If you would like to contact the hosting company, below is their contact information.
Hosting Company’s Contact Information:
J Morgan & Associates, LLC
1(816) 335-4115
sales@kcmocolo.com

With appreciation,
Butterfly Labs, Inc.


For Jody's Customer Service Blog, and more, please visit our new BFL Forums at <https://forums.butterflylabs.com/blogs/bfl_jody/>

I'll pay the first months bill from our wallet of BTC100 we've just raised.  I'm also paying the hosting company $40 for a priority pick up from BFL.  Hopefully this hosting company will be providing there own PSU's so we may not be caught in the BFL no PSU's problem.  If so with our first order being the 7th of July 2012 which was only about two weeks after pre-orders started we may be hashing very soon hopefully 

Still working on the KNC deal and hosting ect.

[matthewh3]

I emailed the hoster about the BFL PSU problem and here's there reply

Hello Matthew,

We will make sure that we have the PSU necessary to put your machine online once its ready. If we cannot get the PSU from BFL we will provide one to make sure you get up and running as soon as your Rig is available.

If you have any further requests please feel free to submit a ticket and one of our technicians will assist you.

[TMAN]

is there any indication on timeframe now?

[matthewh3]

is there any indication on timeframe now?

There's still no definite time scales set in stone yet but with the hoster promising us a PSU I don't see why we can't be hashing next week if the hosters are ready.

[matthewh3]

I've paid for the October Jupiter to be shipped to canth to host for us at first to save on the 20% VAT.  I'm just now collecting BTC16.00 from the remaining BTC30.00 that has been pledged to finish paying for the September day one Saturn to be upgraded to a day one Jupiter.

[TMAN]

Thanks for the update.

[matthewh3]

I'm going to go ahead now and create the new shares to take us up to the round number of 140,000 shares from the current 63,865 shares.  This means we'll be paying 20,000 shares for the Saturn and for the coins pledged it looks like the new investors will be paying no more than BTC0.002066447 per share.  So that we can keep a round number of 140,000 shares in total.  I hope everyone is OK with as the original price offered was BTC0.002055.  If it is a major problem the extra shares above 140,000 can be created if really needed but I would like us to have a round number of shares.

[matthewh3]

I've called on three remaining pledgers who have promised a total BTC30.00 between them to provide us with the final BTC16.00 needed.  So one of the pledgers may be refunded tho I did start asking yesterday for the funds to be transfered.  So reached out today to the aux pledgers.  It'll be first deposited first used and last deposited refunded.

[TMAN]

once we are hashing - do you have re investment plans yet?

[matthewh3]

once we are hashing - do you have re investment plans yet?

Yes we're going to reinvest 90% of profits please read the contract in the OP and on BTCT.CO for more information.



The upgrade on Saturn to Jupiter day one pre-order has been paid and our other Jupiter has been pre-ordered too.  So we're are guaranteed to be hashing at 7(MH/s) per share and have 880(GH/s) for the reinvestment fund come October

[TMAN]

sorry I wasnt clear.

have you been researchcing the vendors of the latest chips due?

[matthewh3]

sorry I wasnt clear.

have you been researchcing the vendors of the latest chips due?

Yes that's why we did the KNC expansion recently.  As KNC are bringing out 28nm chips in September.  No other manufacture has released any information on going any where near 28nm yet.  Our due BFL's at 65nm are the densest chips currently shipping.  There is another UK/EU manufacture planning on bringing out cheaper 65nm chips than BFL.  Although we won't need them in KNC ship there 28nm chips on time.  I can't see any other companies releasing anything denser than 28nm for a while as AMD aren't even shipping CPU's at 28nm yet and are not planning on too until the end of the year.  So if a company the size of AMD is going 28nm just after us I can't see any other bitcoin ASIC manufactures going denser either yet for a while.

[matthewh3]

Email just in from BFL that they expect to have the PSU's in for our boards this week and possibly as early as tomorrow.  We paid (ordered) the hoster who is based near BFL for a priority pickup as soon as our device is ready.  So we could be hashing by the end of the week or by next week for sure if everything goes to plan..

[bziubek]

Great news!

[runam0k]

I've called on three remaining pledgers who have promised a total BTC30.00 between them to provide us with the final BTC16.00 needed.  So one of the pledgers may be refunded tho I did start asking yesterday for the funds to be transfered.  So reached out today to the aux pledgers.  It'll be first deposited first used and last deposited refunded.

Any update on fundraising and the issuance of pledge shares?

[matthewh3]

I've called on three remaining pledgers who have promised a total BTC30.00 between them to provide us with the final BTC16.00 needed.  So one of the pledgers may be refunded tho I did start asking yesterday for the funds to be transfered.  So reached out today to the aux pledgers.  It'll be first deposited first used and last deposited refunded.

Any update on fundraising and the issuance of pledge shares?

https://docs.google.com/spreadsheet/ccc?key=0Ap02rO_j4NLvdFZuMlZnRDFDUFBhaGdsSm9tWkhna2c#gid=0