Quote from: bcabes on November 20, 2013, 01:06:27 AM

Quote from: thomas_s on November 20, 2013, 01:00:05 AM

Quote from: bcabes on November 20, 2013, 12:02:22 AM

Quote from: DyslexicZombei on November 19, 2013, 11:37:45 PM

Yes, it's the risk we take. If BTC price takes a dive, we intend to hold the funds for refunds or until the price recovers so that we don't lose buying power (which is the goal) when we complete a purchase.

Please clarify this a bit more DZ. When I read your last comment it seemed to indicate that if BTC takes a dive you would not be able to buy the miner. In this case it is the share owner taking the loss.

Right now I have 0.81 invested into 3 mining shares. Right now this is worth over 4 shares. At first I considered asking for a refund just because of the price increase, but in the interest of fairness I admit that I would not want to be refunded if the bitcoin price were to go down less than the valuation when I made my order and decided against it.

To me it is only fair if as a Coop it is either one or the other. Either we are locked in at our bitcoin USD price at the time of our order or the number of shares is determined when the miner is bought. I have been very happy with every thing I have seen from DZ and all of the others involved in this Coop. Most of the DZ other group buys opened and closed so fast that I did not see enough fluctuations in price for it to make much of a difference. (My first group buy with DZ was the Bitfury Bullet Run).

I would be interested in hearing other thoughts on this.

If we don't have enough funds to purchase the unit we will refund or hold to see if the value goes up there is no way we can make a purchase if we don't have the BTC to pay for it, we have closed other rounds early because of a sky rocket in BTC price (round 7 closed with less than 100 shares because of this and each share got extra hashpower because of it).

Skyrocket in price means the site determined BTC to be at 200 then in 24 hours the site believed the price to be 400., when these rounds begun it believed the price to be between 650-700 and it was fairly steady on that.

Thanks Thomas for the round 7 example. Closing early and increasing the hashrate is another fair way to to it. Everyone involved with the Coop has been both reasonable and fair and I am happy to be a part of it. I was just looking for clarification and you have provided a satisfactory one.

Your welcome.