NastyFans: The Bitcoin Enthusiast Fan Club (est. 2012)

[🏰 TradeFortress 🏰]

You have free electricity or.. ?

[OgNasty]

You have free electricity or.. ?

Odd that you would post here TradeFortress...

Anyway, it seems we have received a payment from TradeFortress for BTCINVEST shares that were purchased on BitFunder.  A whopping 0.009951 BTC.

https://blockchain.info/tx/eb37287bdebf6b52553f1538e7c46e0ec4f1cd4701d5c17ad9f6047a0fa52814

[ManeBjorn]

I am confused what is the story on all of this?

You have free electricity or.. ?

Odd that you would post here TradeFortress...

Anyway, it seems we have received a payment from TradeFortress for BTCINVEST shares that were purchased on BitFunder.  A whopping 0.009951 BTC.

https://blockchain.info/tx/eb37287bdebf6b52553f1538e7c46e0ec4f1cd4701d5c17ad9f6047a0fa52814

[OgNasty]

Greetings Miners!

We're happy to inform you that development is finalizing and we are on track for shipment in July. We will soon receive our chips at which time we will have finished up on development and can begin assembling the devices.

Therefore, it is now time to collect the remainder of the funds for your order(s).

The invoice for your order(s) have been sent via email to your registered email address. You will be able to pay the invoice by logging in to "My Account" on our website where you will find a "pending" order for the amount due.  A new order number has been created for the final payment. However, this number does not relate to your place in the queue; shipping is still based on your earliest order number.

This is great news and concerning news at the same time.  At the current exchange rate, we owe 13.17 BTC for the remainder of our order.  This is concerning because we currently only have ~9 BTC in holdings.  If anyone is able to lend the 4 BTC needed to pay for this, please let me know.

[smooth]

Greetings Miners!

We're happy to inform you that development is finalizing and we are on track for shipment in July. We will soon receive our chips at which time we will have finished up on development and can begin assembling the devices.

Therefore, it is now time to collect the remainder of the funds for your order(s).

The invoice for your order(s) have been sent via email to your registered email address. You will be able to pay the invoice by logging in to "My Account" on our website where you will find a "pending" order for the amount due.  A new order number has been created for the final payment. However, this number does not relate to your place in the queue; shipping is still based on your earliest order number.

This is great news and concerning news at the same time.  At the current exchange rate, we owe 13.17 BTC for the remainder of our order.  This is concerning because we currently only have ~9 BTC in holdings.  If anyone is able to lend the 4 BTC needed to pay for this, please let me know.

Maybe but what are the terms of the loan. I don't want to do it if I'd be waiting behind 200 BTC of earlier loans.

[Squirrel Dearing]

Maybe but what are the terms of the loan. I don't want to do it if I'd be waiting behind 200 BTC of earlier loans.

Well, I don't have the 4 BTC but I'm willing to let smooth cut in front of me in terms of payback

[Bronstad]

Greetings Miners!

We're happy to inform you that development is finalizing and we are on track for shipment in July. We will soon receive our chips at which time we will have finished up on development and can begin assembling the devices.

Therefore, it is now time to collect the remainder of the funds for your order(s).

The invoice for your order(s) have been sent via email to your registered email address. You will be able to pay the invoice by logging in to "My Account" on our website where you will find a "pending" order for the amount due.  A new order number has been created for the final payment. However, this number does not relate to your place in the queue; shipping is still based on your earliest order number.

This is great news and concerning news at the same time.  At the current exchange rate, we owe 13.17 BTC for the remainder of our order.  This is concerning because we currently only have ~9 BTC in holdings.  If anyone is able to lend the 4 BTC needed to pay for this, please let me know.

If this final payback doesn't effect the shipping queue, and they are not shipping until July anyway, maybe its best to wait a few weeks and see how the BTC exchange rate fairs. Might at least be able to shave 1 to 2 BTC off the final payment. If the exchange rate rises to $750 the current holding would be enough to pay it off, not to mention any other mined BTC generated in the meantime.

[Carnth]

If anyone is able to lend the 4 BTC needed to pay for this, please let me know.

I'd be willing to lend the 4 BTC based on a definite payback date and a "tip."

[OgNasty]

If anyone is able to lend the 4 BTC needed to pay for this, please let me know.

ThunderSheep has generously supplied the needed 4 BTC.

Repayment will be sent to: 1HNp9NhWoE8FcXtjv59k851h3rJgwSLivP

[OgNasty]

If this final payback doesn't effect the shipping queue, and they are not shipping until July anyway, maybe its best to wait a few weeks and see how the BTC exchange rate fairs. Might at least be able to shave 1 to 2 BTC off the final payment. If the exchange rate rises to $750 the current holding would be enough to pay it off, not to mention any other mined BTC generated in the meantime.

Now that we have the funds on hand...  Do we want to try and time the market to get the best deal or should we take advantage of the recent price run to complete our order while we can?

[MilkyLep]

Time it.

[plasticAiredale]

If this final payback doesn't effect the shipping queue, and they are not shipping until July anyway, maybe its best to wait a few weeks and see how the BTC exchange rate fairs. Might at least be able to shave 1 to 2 BTC off the final payment. If the exchange rate rises to $750 the current holding would be enough to pay it off, not to mention any other mined BTC generated in the meantime.

Now that we have the funds on hand...  Do we want to try and time the market to get the best deal or should we take advantage of the recent price run to complete our order while we can?

If its true you can wait a while to send in the payment I say let it ride as well. If the price goes down, then just pull the trigger so as to not run out of funds to actually pay it off.

The market seems like it wants to go up at the moment, let's see how high.

[ManeBjorn]

In hand miners are always better than pre-orders.
By the time Alpha ships their miners will be competing with a flood of ZeusMiners that started shipping 2 days ago.
Zeus is very focused on it's OEM's as well.  Alpha will have to put out 1 gh/s units to make a dent when they ship.
It is crazy how fast scrypt mining is hitting and the manufacturers are getting it out the door.  They all learned from the SHA-256 ASIC miner influx.
The longer any of them take to ship the less use they will be as the smaller companies are focused on getting the units out now not some distant ship date they may or may not make.

[OgNasty]

In hand miners are always better than pre-orders.
By the time Alpha ships their miners will be competing with a flood of ZeusMiners that started shipping 2 days ago.
Zeus is very focused on it's OEM's as well.  Alpha will have to put out 1 gh/s units to make a dent when they ship.
It is crazy how fast scrypt mining is hitting and the manufacturers are getting it out the door.  They all learned from the SHA-256 ASIC miner influx.
The longer any of them take to ship the less use they will be as the smaller companies are focused on getting the units out now not some distant ship date they may or may not make.

Yes, but I think the ZeusMiners are ~20% less efficient and ~20% more expensive.  Alpha Technologies is also giving us 200MH/s in hosted mining power.  That shouldn't be taken lightly.

I am nervous about not paying for the remainder of our order while we can, but I'll roll the dice and see how it goes if we want to see how far this rally will run.

[ManeBjorn]

I understand that.
I hope it does not burn us all though.
I think you are right though the pre-order paid up will leave one less thing to worry about and focus can move to the next endeavor. 

In hand miners are always better than pre-orders.
By the time Alpha ships their miners will be competing with a flood of ZeusMiners that started shipping 2 days ago.
Zeus is very focused on it's OEM's as well.  Alpha will have to put out 1 gh/s units to make a dent when they ship.
It is crazy how fast scrypt mining is hitting and the manufacturers are getting it out the door.  They all learned from the SHA-256 ASIC miner influx.
The longer any of them take to ship the less use they will be as the smaller companies are focused on getting the units out now not some distant ship date they may or may not make.

Yes, but I think the ZeusMiners are ~20% less efficient and ~20% more expensive.  Alpha Technologies is also giving us 200MH/s in hosted mining power.  That shouldn't be taken lightly.

I am nervous about not paying for the remainder of our order while we can, but I'll roll the dice and see how it goes if we want to see how far this rally will run.

[silverfuture]

We had to borrow to pay for it. It would be embarrassing to have to borrow more. Let's not gamble as there is no guarantee price will go up.

[nonnakip]

Distribution 302276 is complete. We appreciate the donations. Thank you.

[OgNasty]

We had to borrow to pay for it. It would be embarrassing to have to borrow more. Let's not gamble as there is no guarantee price will go up.

I went ahead and paid for the remainder of our order.  Now back to the waiting game.

[Squirrel Dearing]

We had to borrow to pay for it. It would be embarrassing to have to borrow more. Let's not gamble as there is no guarantee price will go up.

I went ahead and paid for the remainder of our order.  Now back to the waiting game.

I think that was a good call

[ManeBjorn]

I agree with the decision.  Now we can keep our fingers crossed and hope they ship in a decent time frame.
By the way my inside source has shown me that the Zeus miners are drawing less power than anticipated.  I am not allowed to give specs yet but that was a nice surprise as they had been retargeted at a higher draw pre-release.  The numbers are back in line with initial estimates.  That is good news going forward that the pre-order miner you have should hit power draw targets as well.

We had to borrow to pay for it. It would be embarrassing to have to borrow more. Let's not gamble as there is no guarantee price will go up.

I went ahead and paid for the remainder of our order.  Now back to the waiting game.