Selling 100 Spondoolies SP30 Yukon miners with hosting

[BitcoinBrains]

Given that all the costs involved in these are relatively fixed, its pretty easy to work out the potential profits. 
These units at this price will break even if the average difficulty change is around 1%. Anything more and they lose money.
Since that seems fairly unlikely, I think you need to significantly lower these prices.

It's pretty unrealistic to think that you could jump in and out of a poorly thought out $600,000 capital investment in a high risk field without any loses.

[Flep182]

If the hoster could verify prepayment of the hosting and confirm transfer of ownership (and that stuff has been paid already) I think it's a fair safe deal through escrow. I don't know the hoster, but if they're well know that might be a way to directly get paid.

[blockchaingirl]

Considering these are selling on ebay for just over $3000 and also considering if you bought 100 from Spondoolies you would have purchased them at a hefty discount on the RRP I think you are overpriced. In fact I think you are probably profiteering.

Try pricing around $2500 and you will have no problem selling them. Especially considering the expensive hosting you are selling them with.

Remember it doesn't matter what you think they are worth, they are only worth what it is expected they will return in BTC over their lifetime.

Hello, if you look at our figures, you will see the miner price is 87% of retail. Thank you for the pricing recommendation.  We also did not include the $13,000 in shipping from Israel. 

Peace and joy,
Vonnie

[blockchaingirl]

Given that all the costs involved in these are relatively fixed, its pretty easy to work out the potential profits. 
These units at this price will break even if the average difficulty change is around 1%. Anything more and they lose money.
Since that seems fairly unlikely, I think you need to significantly lower these prices.

It's pretty unrealistic to think that you could jump in and out of a poorly thought out $600,000 capital investment in a high risk field without any loses.

I am grateful for the analyses of thoughtful seasoned investors.  It highlights what's cool about innovative, creative, intelligent digital communities.  Nothing about this was poorly thought out, we are just navigating a change in strategy based on new information and a desire to innovate in an emerging space. 

I realize this is not in-person negotiations, but as a newbie, the level of character assassination and negative conclusion jumping that goes on in this space with virtually no personal knowledge about each other is pretty disappointing.  Perhaps our level of transparency is unusual.  Perhaps its the nature of the medium of communication but maintaining that level of pessimism must be a huge burden.

If anyone has a counter offer, I would be happy to take it to my CEO.  We have asked Hashplex what they can provide to verify the existence and performance of the miners, as well as the pre-paid hosting, and we will also provide a process for transfer of ownership and hosting credit, and select a mutually agreeable escrow agent.

Thanks for your interest and suggestions!

peace and joy,
vonnie

[Dallski]

Escrow?

Sure.  We can set that up. Just need to know how you would be paying.  Do you need any additional information?  How many would you be interested in?

peace and joy,
Vonnie

How about full escrow with DannyHamilton and I pay upfront and its held in an escrow until 11 months are up?  This eliminates risk on both sides.
Alternatively, how about you ship them to me, I'll set them up to ensure they're working and then escrow will be released.

If no, please explain why these options are not feasible.

The whole purpose of the liquidation is so that we can invest in some projects that will stimulate the bitcoin economy, and an 11 month escrow defeats that purpose, not to mention the volatility in the BTC price if you use BTC.  The owner is an attorney and he invested his own capital in these units, but after Inside Bitcoin London, we both got the big picture, and we want to do more that will help the whole system thrive.  We are hiring developers to do awesome things!

Hashplex can provide information on the unit's function, if you tell me what indicators you are looking for.  Shipping them to you is not practical because they are already plugged in and running with prepaid hosting for a year.  The selling point here is that they are available, there is no shipping, no waiting, no set up. 

Please let me know if you have any other questions. In fairness to my transparency, may I request how many you are interested in? And would you pay with cash or BTC?  We can take that portion of the discussion off-forum if you like. 

Peace and joy,
Vonnie



 

I'm interested in the big picture that you and your lawyer boss CEO are funding by selling these Spondoolies rather than the Spondoolies themselves. Can you elaborate on this point?

I would assume that someone who could drop $600k+ on mining equipment can probably fund his or her own ventures as well, so you coming on here to sell based on a "retail price" is a bit absurd. We are not attacking you or your lawyer boss CEO personally; we are all about money, and money has no feelings except for the desire to procreate. Obviously the lawyer boss CEO is not looking for the slow stream of income from the current mining landscape, so you are going to need to bring it down to the market value, which is roughly the present day value of mining calculated at $0.10/kwh assuming (1) minimal BTC price growth, (2) 10% cumulative monthly decreases in mining revenue due to difficulty increases, and (3) salvage value. Your host is charging you $0.133/kwh, which is already higher than a lot of us have access to.

Somebody make an offer!

[blockchaingirl]

Yet another one playing with big numbers and lots of powerfull miners!!!
dont bother...
miner that has 100 sp-30 has someone else to speak for him
with lots of time in this forum

With all due respect, you are not correct, but I guess I can intuit where the lack of trust might come from.  I can only assure you that some people are going to get a really good deal because my boss jumped on mining as an entry point investment, has made some connections with pioneers in the field, and is now inspired to invest in a more sophisticated way.  This is such an exciting, emerging industry.  Do you think that such skepticism might be off-putting to those trying to break in and grow the community?  Isn't inviting more people in, and helping them get acquainted with the community what is needed to help BTC become the ubiquitous disruptive economic technology that we envision it to be?  Just my two cents.

peace and joy,
vonnie

Hi Vonnie there is always room to proove your legitimacy but before writing this be sure I have seen people selling miners that dont even exist.
Hope am making mistake with you and in this case wish for a good sale.

Much thanks for the good energy!

[Biodom]

As soon as someone puts miners for sale here, people always jumps at this: "you have to ask for less, you have to ask for less."
I see it differently-she gave you the price and it is clearly negotiable.
In addition, try to get 0.45 PH IMMEDIATELY with long term hosting commitment-I don't think that it is going to be easy.
The deal does not look great for one miner, but perhaps not bad for a large farm.

[BitcoinBrains]

Given that all the costs involved in these are relatively fixed, its pretty easy to work out the potential profits. 
These units at this price will break even if the average difficulty change is around 1%. Anything more and they lose money.
Since that seems fairly unlikely, I think you need to significantly lower these prices.

It's pretty unrealistic to think that you could jump in and out of a poorly thought out $600,000 capital investment in a high risk field without any loses.

I am grateful for the analyses of thoughtful seasoned investors.  It highlights what's cool about innovative, creative, intelligent digital communities.  Nothing about this was poorly thought out, we are just navigating a change in strategy based on new information and a desire to innovate in an emerging space. 

I realize this is not in-person negotiations, but as a newbie, the level of character assassination and negative conclusion jumping that goes on in this space with virtually no personal knowledge about each other is pretty disappointing.  Perhaps our level of transparency is unusual.  Perhaps its the nature of the medium of communication but maintaining that level of pessimism must be a huge burden.

If anyone has a counter offer, I would be happy to take it to my CEO.  We have asked Hashplex what they can provide to verify the existence and performance of the miners, as well as the pre-paid hosting, and we will also provide a process for transfer of ownership and hosting credit, and select a mutually agreeable escrow agent.

Thanks for your interest and suggestions!

peace and joy,
vonnie

I didn't intend any of my comments as a personal attack against you or your boss. However the fact is that this investment has very little chance to break even or make a profit at the prices you've paid or the prices you are trying to sell at. Unless I misinterpret your goals, I'd say this was poorly thought out. This seems like an attempt to pass your poor investment on to someone else.

[sudexx]

As soon as someone puts miners for sale here, people always jumps at this: "you have to ask for less, you have to ask for less."
I see it differently-she gave you the price and it is clearly negotiable.
In addition, try to get 0.45 PH IMMEDIATELY with long term hosting commitment-I don't think that it is going to be easy.
The deal does not look great for one miner, but perhaps not bad for a large farm.

Someone already vented $2500 but OP didn't bite.

The negotiation is on.

[blockchaingirl]

Considering these are selling on ebay for just over $3000 and also considering if you bought 100 from Spondoolies you would have purchased them at a hefty discount on the RRP I think you are overpriced. In fact I think you are probably profiteering.

Try pricing around $2500 and you will have no problem selling them. Especially considering the expensive hosting you are selling them with.

Remember it doesn't matter what you think they are worth, they are only worth what it is expected they will return in BTC over their lifetime.

Here's the actual sales prices from Ebay which they provide if we were selling one similar.  It does appear that our price is fair.

Spondoolies SP30 Yukon September 2nd Batch 4.5TH/s ASIC Bitcoin Miner (Relisted)
Starting price: $925.00
Sold for: $3,300.00
Shipping: Calculated — varies (based on buyer location)

Spondoolies SP30 Yukon September 2nd Batch 4.5TH/s ASIC Bitcoin Miner
Starting price: $995.00
Sold for: $3,550.00
Shipping: Free

Spondoolies SP30 Yukon September 2nd Batch 4.5TH/s ASIC Bitcoin Miner
Starting price: $1,300.00Go with this suggested price
Sold for: $4,050.00
Shipping: Calculated — varies (based on buyer location)

Spondoolies Yukon SP30 4.5TH/s Bitcoin Crypto Currency Asic Miner
Starting price: $2,000.00
Sold for: $3,451.60
Shipping: Flat — $25.00

Bitcoin Miner - Spondoolies SP30 4.5TH "NOT PREORDER"
Starting price: $4,500.00
Sold for: $4,500.00
Shipping: Free

[Biffa]

Thanks for the reply, good to see you are taking seriously the comments. They are not meant as an attack.

Actually the last one sold for $3300, take off the 10% that Ebay charges and thats $2970 that was over a week ago.

Before that its nearly a month since one sold, these things depreciate less than most miners but still they just stop being able to break even if too highly priced.

Remember you are not dealing with Ebay here, these are mainly seasoned miner buyers who reject Ebay/Paypal and their "evil empire"

You are of course free to sell at whatever you like and good luck to you.

If these were going for $2500-2700 without the hosting anchor chain I'd snap your arm off to buy one

[Biffa]

As soon as someone puts miners for sale here, people always jumps at this: "you have to ask for less, you have to ask for less."
I see it differently-she gave you the price and it is clearly negotiable.
In addition, try to get 0.45 PH IMMEDIATELY with long term hosting commitment-I don't think that it is going to be easy.
The deal does not look great for one miner, but perhaps not bad for a large farm.

Its a marketplace! Haggling is part of the business.

Its in our interests to drive the price down just like (as you have one to sell) its in your interests to try and keep the prices up

[hedgy73]

I agree please don't compare ebay prices to what you will get on here. If you want ebay prices......

[blockchaingirl]

I agree please don't compare ebay prices to what you will get on here. If you want ebay prices......

I only meant to clarify the contribution of another poster who mentioned they were selling on eBay for "just over $3000".  We have no interest in selling on eBay at this time.

[Seri]

I will buy them all. How much ? Keep in mind that I got lot of sp20's for a really good price per GH.
Let me know

[Biffa]

I agree please don't compare ebay prices to what you will get on here. If you want ebay prices......

I only meant to clarify the contribution of another poster who mentioned they were selling on eBay for "just over $3000".  We have no interest in selling on eBay at this time.

$3300 is just over $3K less ebay fees and its actually below $3K

Anything else was over a month ago which is irrelevant

[blockchaingirl]

I think it will be a difficult sell since the SP35 is coming out and is $3600 and runs 5.5th.  I would be interested in buying multiples but i am not interested in paying $0.14/kwh since i get it for way less.  The hosting contract kills it for me since it essentially eliminates the already difficult task of paying for the equipment.  Secondly, If you have 100 units you would have got a significant discount from HashPlex for the amount of kwh you were buying.  Lastly, how long have the units been running, cause if it has only been a month in the contract and you are already wanting to sell, i suspect you have realized that the ROI on $6500 for 4.5th was terrible.
good luck...keith

So let me clear up some confusion regarding the pricing on these units.  First, the price we quoted $6,537 ($3,401 miner + $3,106 hosting) was based on what a buyer would expect to pay for one SP30 hosted at a professional facility.  The units take between 2,880W to 3,000W each, so you can't just plug these in at your house.  For total transparency, we paid $373,000.00, including shipping, for 100 SP30s that were delivered and finally installed on October 12, 2014 at Hashplex.  Electrical readings at the wall showed an average pull of 2,880W each, for a total consumption of 288,000W.  We paid approximately $298,000.00 for a one year hosting contract that would run through October 12, 2015.  This equates to a pre-negotiated price of $0.118 KWh, which is extremely reasonable for 24 hour remote monitoring, expert care and maintenance, and insurance.  Again, we quoted sale price at $99.00 KWmonth because this is the price for one SP30 miner.  

So, if you do the math, we offered an individual price of $6,537 for miner+hosting for ~11 months, which when multiplied by 100 units and compared to the actual price we paid per unit ($6,710 each), is approximately $20,000 less than what we actually paid.  It's a very fair deal for all involved.  

Peace and joy!

[warrensgun]

FWIW here's how I see see it - 2 s4 and 1 s3 is about the same.  total that costs about 2200 delivered.  I pay less than you do for hosting, so how much you have committed to there is irrelevant.  But even if we take the price you committed to - likely close $86.23 per KW/month * 10.5 months * 2.88 per machine -- you would be at a value of the hosting of 2607 (most of us pay less than 10 cents per kw for electric).  Even with that factored in, I could buy a similar hardware for $2200 and pay the $2607 in hosting for the next 10.5 months and have what you are offering at $4807.  The true value of what you are offering is actually closer to what you paid in total - the btc value mined - hosting cost used.  and that's to someone who wants the machines hosted off site and understands that in a few months they will be buying new hardware, selling the outdated 100 sp30 on ebay or similar and buying replacement hardware to consume that power.

Almost no one I know is still running hardware they bought 1 year ago - save for some knc jupiters.

[BitcoinINV]

Something tells me these are cowboy miners rigs after his shit burnt down. These are his miners he can not host.

Think he would host them for sell and host for 1800, not sure what the fee was after purchase never got that far. I want my miners in my possession.

[blockchaingirl]

Something tells me these are cowboy miners rigs after his shit burnt down. These are his miners he can not host.

Think he would host them for sell and host for 1800, not sure what the fee was after purchase never got that far. I want my miners in my possession.

That is absolutely not true.  These were purchased directly from Spondoolies and shipped to Hashplex.  We are happy to provide proof of purchase offline for serious inquiries.
Peace and joy,
Vonnie