Quote from: Flep182 on April 14, 2014, 07:21:49 AM

Would it be an option to put the rigs on some lease rigs alike website? Afaik the revenue from those sites is higher than what bitcoin mining on our own would yield.

Other option would be to switch to USD payments for hosting, assuming everyone is sure they'll want to hold on to BTC with an expectation that it will rise back up.

We're working on starting our own leased/cloud hashing service, using the next batch of hardware which is largely unsold. One option is that the cooperative could sell its hardware to this new venture in exchange for equity. This would allow the original group buy members to profit off the growth of the company, rather than be limited to only mining. Long run this could be a big win for all.

Quote from: btcXem on April 14, 2014, 04:46:27 PM

Thanks for the update and hard work. I have a couple questions:

I have shares in GB 1, 2, 3 and 4 can I combine ten of them now for physical delivery?

If I do, what happens with the payouts from the Franken-Jupiter for GB 1, 2, 3 and the GPU rig from 4?

We will allow you to combine to accept physical delivery. For Group #1 the Neptune is bundled into the monthly fee, so no Franken-Jupiter payout would occur there if you were to redeem. Group 2-3 you would still receive the Franken-Jupiter. Note: you need to pay $99/per unit, provide a shipping label, and pay off any remaining hosting obligation to receive physical delivery. We have a limited amount of ANTs that are currently in our possession and (thanks to a legal problem) can't get remove the rest from the data-center. Hopefully that issue will be resolved this week...but if we don't have the hardware on hand we will buyback the shares at the equivalent residual value.

For Example:
Say you own 10 shares in group 3. You want to take delivery this week.
Your costs: $99 Noc fee, $29 shipping label, $34.60 remaining commitment; total due $162.60.
You can pay: $162.60 and get an ANT or we can send you .893BTC current price of ANT less the $162.60 = .593BTC (subject to exchange rate fluctuation). As Group #3 still owns the Neptune/FrankenJups you will get your share(s) of it less hosting fees.

Lawyers have erased any profit I would have made on this whole venture so far; I'm trying to make lemonade out of the lemons and take care of you guys as best I can. Bitcoin getting pumped back to $1000 would help. I'm open to suggestions as well; the reality is the overall situation for Groups 1-4 right now is pretty bleak.