[lee group]1980$! the sales of first batch hosted antminer s7(psu included)

[jmumich]

I guess if you meet us at half price for the reminding unit (not the one you buy at 420$) you'll pretty much sell out today from all your previous buyer.

We are not asking you to sell at non-profit.

If i knew, i would have already take 2 units.

when i got the money i canot do nothing, i canot got new miner from bitmain to increase the amount of the miner in our data center

So you rather wait and wait for someone to buy them at the current price then to sell them out, then pass along a host fee savings?

I guess you don't want to wait the time for batch 5 to be delivered with nothing in hand to sell. I will further assume, that all remaining units are up and operating on your behalf, and we are all getting used units. And I never realized we were paying for the power supplies directly, I thought that was part of the hosting fee daily charge.

I'm hoping sales stall for bitmain and they adjust their prices accordingly. I wonder if that's possible.

I always assumed that we were renting the power supplies, and cannot keep them once the hosting contract is over.

I like $380 better than $419, but either way I hope he can sell them and reduce hosting costs. At $380 that would probably happen a little faster.

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[HerbPean]

I guess if you meet us at half price for the reminding unit (not the one you buy at 420$) you'll pretty much sell out today from all your previous buyer.

We are not asking you to sell at non-profit.

If i knew, i would have already take 2 units.

when i got the money i canot do nothing, i canot got new miner from bitmain to increase the amount of the miner in our data center

So you rather wait and wait for someone to buy them at the current price then to sell them out, then pass along a host fee savings?

I guess you don't want to wait the time for batch 5 to be delivered with nothing in hand to sell. I will further assume, that all remaining units are up and operating on your behalf, and we are all getting used units. And I never realized we were paying for the power supplies directly, I thought that was part of the hosting fee daily charge.

I'm hoping sales stall for bitmain and they adjust their prices accordingly. I wonder if that's possible.

I always assumed that we were renting the power supplies, and cannot keep them once the hosting contract is over.

I like $380 better than $419, but either way I hope he can sell them and reduce hosting costs. At $380 that would probably happen a little faster.

I don't see any advantages to buy a miner 80$ higher then i did 2-3 day before, so I will pass. 380 I might but still ...

For now I can't even mine on my main pool. both primary and secondary are reporting as dead for 3 days for obscure reasons when i know other peoples here mine on the same server as I want.

Lee is out until tomorow ...

[ErikvanBreen]

I might be willing to part with my 15 Antminer S5's at $380 each, bought in January and still have hosting till 20th of March.

Looking to sell all together at once and hoping Lee is willing to help as Escrow.

Let me know if someone is interested

[Sine(X)]

Your data center is 5MW and you have only 500units (~0.3MW)
Strange Chinese business..

He has almost 1000 S5 and maybe more Sx ?

Strange conclusions

nothing strange: your hosting costs pay for his miners electricity (maybe).

1000S5 is 0.6MW.
Maintenance is 0.05$ kwh (including electricity and other fees), i.e. it's very cheap. That's why I'de written a strange so low active MW if they have 5MW in their DC

[arorts]

I'm sensing Bitmain has something else in mind and he's just making more price increases to suck up the last pennies from the market beforehand... (I feel S6 shouldn't be that far out. ;-)

[arorts]

Your data center is 5MW and you have only 500units (~0.3MW)
Strange Chinese business..

He has almost 1000 S5 and maybe more Sx ?

Strange conclusions

nothing strange: your hosting costs pay for his miners electricity (maybe).

1000S5 is 0.6MW.
Maintenance is 0.05$ kwh (including electricity and other fees), i.e. it's very cheap. That's why I'de written a strange so low active MW if they have 5MW in their DC

Scrypt-N chips from KNC Miner would seem energy efficient enough....I could put some of that excess capacity to work :-)

[pcfli]

Your data center is 5MW and you have only 500units (~0.3MW)
Strange Chinese business..

we donot get all 5MW ready, since no so much miner,  5MW is the largest electricity this data center can offer, we get it ready step by step, if we are half full of our current room, we will get next room ready

[jmumich]

Your data center is 5MW and you have only 500units (~0.3MW)
Strange Chinese business..

we donot get all 5MW ready, since no so much miner,  5MW is the largest electricity this data center can offer, we get it ready step by step, if we are half full of our current room, we will get next room ready

And the question we are all aching to know, how close are we to a decrease in hosting costs? That is, how many more miners to sell?

My hope is that by selling the remaining units at $380, they would still quickly, and allow you to reduce the hosting costs.

Then you can sell new units at $420 (or even at a slight premium, because as you say they come with free PSU rental, no shipping costs, no maintenance, no in-home annoyance (for home miners) and even lower hosting costs.)

btw, please confirm that the PSU is a rental. If we own the PSUs (meaning we can have them shipped along with the miner), that changes things.

[jmumich]

we have added the fund monitor function to our system, when you login to check your miner status, you can also see the profit of our fund, which is based on the arbitrage strategy i said before, currently, we promise the profit will not lower than 1% per month, you total earning=1%+(total earning -1%)*20%
for example, like today, the fund net value is 1.0156, you will get 1+0.01+(1.0156-1.01)*20%=1+0.01+0.00112=1.01112.
Remember, 1% profit is promised, which means even we donot earning any money with this strategy this month, you will still get all of your money plus 1% interest.

.

I'm a little fuzzy on this - is this a separate investment fund that you set up, distinct from the mining operation?

[no141]

Then you can sell new units at $420 (or even at a slight premium, because as you say they come with free PSU rental, no shipping costs, no maintenance, no in-home annoyance (for home miners) and even lower hosting costs.)

btw, please confirm that the PSU is a rental. If we own the PSUs (meaning we can have them shipped along with the miner), that changes things.

The mining costs per day should include the costs of the PSU. Even being a cheap one it'll hopefully last three years, and be warrantied for one. I think he was just overstating the fact that PSUs were included. I fully doubted that we were buying to PSU too, as the miners WERE priced great. The miner cost per day is way over electric use, so everything else is factored in.

Buying from bitmain shipping is included in the cost, according to everything I've heard. So no accounting for that please. I can't check now as their shopping cart ends up having a 502 cloudflare error for passport.bitmain.com(If someone is DDOS'ng that, well done protest!). For maintenance, I rather have the pleasure of changing things myself, then being stressed out that a miner needs something done to it, especially if it's down. As for the sound of the fan at home and the heat during the summer, yes that's an annoyance, during late fall, winter, and early spring, the money making heating is the best heating to have.

I really don't want a $40 power supply, and 100% think it's a rental. With one of these S5 at home, if it comes down to attrition, I'll use a different premium power supply for each side--the lower ones are building up as they just don't die out. And have no need of that shipping cost, if it fact it was included.

-----

I have no clue about that fund thing. I never noticed a promise of profit of 1% per month before here. But apparently, 400 shares at 1btc each can be obtained and earn at least 1% profit. I guess it's to fund more miners?

[Min€r]

So do I buy the miner and you provide hosting or is it just a contract? ...if I am the owner will it be possible to ship the hardware to me if I don`t want hosting anymore (and what would be the cost of shipping)? Thanks for an answer.

[philipma1957]

he can't do 340   but 419 is steep.

I used to sell hdds on ebay.  when the flood happened a few years back hdd prices went crazy.  I had a lot in stock maybe 40.  1tb hdds had tripled in price.  I was in the same spot as lee.

So I sold my 40 hdds with a smaller price bump then anyone else on ebay.  Result they sold fast and people liked what I did. I made a little extra money and a lot of extra good will.

Once I sold out.  I found other ebay items to sell.


 So if you meet in the middle?   380?

you will sell them quicker then anyone else.  and when the 50 sell out you can collect hosting and not expand for a while.

that is the strategy we use, although we set the price as 419$ as the same as bitmain
but we actually much cheaper, first we have included the price for a 40$ psu, second we have 20-25 days ahead of bitmain
edit
if you check the chinese site of bitmain, you will find the price they set is 3000 CNY, which is 484$. as a matter of fact, i canot place the order on english site since it will add 17% tax

Not going to complain as bitmaintech is your supplier and they mave have asked you to sell at 419 not 380.
I will say when bitmaintech sold at 379 you sold at 340 and I did get 4 of them from you all lower cost then bitmaintech.

To all that are annoyed at bitmaintech remember buying coins is another option.

 To lee you sold a lot at 340 which was lower then bitmaintech once again I thank you for this.

 If you have 40 or 50 to sell you may as well hash them into your own wallet.
To us miners please remember this was caused by bitmaintech not lee.
On a business end none of us know if bitmaintech said to lee don't sell at 380 match our price.

We may as well let him mine with the 40 or 50 he has left and make some money for himself.

I have been with lee since April of 2014  he weathered the crash of LTC and alt coins did not screw customers.
He also dealt with the drop of btc from 600 usd to 200usd and did not screw customers.

None of us know what his supplier has asked him to do.  So I am cutting him slack on this.

I still don't like bitmaintech's new pricing as a miner, but as a business guy I see why they did it.

[Biffa]

I doubt Lee actually has 50 S5's that he bought at the lower price to sell. I think he had an agreement from BITMAIN to buy at a certain price if he comitted to buy X amount of them, but that all changed when they released the new batch of hardware from their farm for resale. Now he can probably only get them at the new price point.

I'm not pretending to know exactly what the business agreement was between them but this seems to be what he is saying when he talks about why his prices have risen.

Of course he might have them sitting there mining for him, waiting for buyers to take them at whatever cost he wants to charge. Nothing is beyond the pale in this industry

[jmumich]

Then you can sell new units at $420 (or even at a slight premium, because as you say they come with free PSU rental, no shipping costs, no maintenance, no in-home annoyance (for home miners) and even lower hosting costs.)

btw, please confirm that the PSU is a rental. If we own the PSUs (meaning we can have them shipped along with the miner), that changes things.

The mining costs per day should include the costs of the PSU. Even being a cheap one it'll hopefully last three years, and be warrantied for one. I think he was just overstating the fact that PSUs were included. I fully doubted that we were buying to PSU too, as the miners WERE priced great. The miner cost per day is way over electric use, so everything else is factored in.

Buying from bitmain shipping is included in the cost, according to everything I've heard. So no accounting for that please. I can't check now as their shopping cart ends up having a 502 cloudflare error for passport.bitmain.com(If someone is DDOS'ng that, well done protest!). For maintenance, I rather have the pleasure of changing things myself, then being stressed out that a miner needs something done to it, especially if it's down. As for the sound of the fan at home and the heat during the summer, yes that's an annoyance, during late fall, winter, and early spring, the money making heating is the best heating to have.

I really don't want a $40 power supply, and 100% think it's a rental. With one of these S5 at home, if it comes down to attrition, I'll use a different premium power supply for each side--the lower ones are building up as they just don't die out. And have no need of that shipping cost, if it fact it was included.

-----

I have no clue about that fund thing. I never noticed a promise of profit of 1% per month before here. But apparently, 400 shares at 1btc each can be obtained and earn at least 1% profit. I guess it's to fund more miners?

To be clear, my point was that purchasers are saving on the shipping costs, which can be quite substantial (to the US, anyway), and these are benefits he provides to the buyer (in exchange for hosting costs, of course). Also, I assume his shipping costs are considerably lower, as he's local.

[clgrissom3]

I see that the AntPool has some problems overnight and half my Lee Group S5s are dead on pools 1 and 2.  The other half of my miners are running just fine on the same exact pools.  The Lee Group team rebooted the miners that are having pool issues for me as soon as I notified them and it doesn’t fix anything.  Does anyone have any tricks that may help with this?

When I was running S5s in my garage, I could usually fix these kinds of problems by switching pools around and several reboots.  Once the pools came back to life I could switch the pools back to normal and everything would be golden.  Without this capability on my Lee Group miners it is difficult to do anything.

[pcfli]

Your data center is 5MW and you have only 500units (~0.3MW)
Strange Chinese business..

we donot get all 5MW ready, since no so much miner,  5MW is the largest electricity this data center can offer, we get it ready step by step, if we are half full of our current room, we will get next room ready

And the question we are all aching to know, how close are we to a decrease in hosting costs? That is, how many more miners to sell?

My hope is that by selling the remaining units at $380, they would still quickly, and allow you to reduce the hosting costs.

Then you can sell new units at $420 (or even at a slight premium, because as you say they come with free PSU rental, no shipping costs, no maintenance, no in-home annoyance (for home miners) and even lower hosting costs.)

btw, please confirm that the PSU is a rental. If we own the PSUs (meaning we can have them shipped along with the miner), that changes things.

yes, the psu is belong to customer, you can ask me to ship it to you at the end of the host

[pcfli]

we have added the fund monitor function to our system, when you login to check your miner status, you can also see the profit of our fund, which is based on the arbitrage strategy i said before, currently, we promise the profit will not lower than 1% per month, you total earning=1%+(total earning -1%)*20%
for example, like today, the fund net value is 1.0156, you will get 1+0.01+(1.0156-1.01)*20%=1+0.01+0.00112=1.01112.
Remember, 1% profit is promised, which means even we donot earning any money with this strategy this month, you will still get all of your money plus 1% interest.

.

I'm a little fuzzy on this - is this a separate investment fund that you set up, distinct from the mining operation?

yes, it is another invest subject, runned by our team, the money is on my account on okcoin market

[pcfli]

I see that the AntPool has some problems overnight and half my Lee Group S5s are dead on pools 1 and 2.  The other half of my miners are running just fine on the same exact pools.  The Lee Group team rebooted the miners that are having pool issues for me as soon as I notified them and it doesn’t fix anything.  Does anyone have any tricks that may help with this?

When I was running S5s in my garage, I could usually fix these kinds of problems by switching pools around and several reboots.  Once the pools came back to life I could switch the pools back to normal and everything would be golden.  Without this capability on my Lee Group miners it is difficult to do anything.

one simple way to avoid such issue is set one f2pool account as your third pool, we never have connection issue with f2pool

[HerbPean]

I see that the AntPool has some problems overnight and half my Lee Group S5s are dead on pools 1 and 2.  The other half of my miners are running just fine on the same exact pools.  The Lee Group team rebooted the miners that are having pool issues for me as soon as I notified them and it doesn’t fix anything.  Does anyone have any tricks that may help with this?

When I was running S5s in my garage, I could usually fix these kinds of problems by switching pools around and several reboots.  Once the pools came back to life I could switch the pools back to normal and everything would be golden.  Without this capability on my Lee Group miners it is difficult to do anything.

I had the same problem for 2 days. (The first day was my fault) Both primary and secondary pool was dead for obscure reason. Lee didn't respond me back on my last PM yet but i'm pretty sure he did a reboot to fix it.

Not sure why you're having trouble with Antpool tho, my servers are in the US.

The S5 firmware might have an issue with the pool status. I don't know. I feel it shouldn't behave like that.

I feel the same pain, if I had access to the miner, it would have been fix really quickly.

[d57heinz]

I think the connection issues you guys are speaking of is the firewall china has..  If the farm is located there that is why he can connect to f2 pool easy as they have a port 80 mining stratum..i think if the other pools had such a port it would be no prob for lee.. just a thought

edit  f2pool ports..  looks like they also have a low port 25 aswell..   https://www.f2pool.com/help

Best regards
d57heinz