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Post by Admin on Feb 23, 2014 10:33:23 GMT -6
Good News #1 - I spoke to Gridseed Rep on phone. We are set up to be able to order this and future orders!!
Good News #2 - The BTC/USD price is back up to near IPO levels!!
Not So Good News - GRIDSEED will not accept any payment other than USD wire to their bank.
I am checking with both CryptoTrade and Bter Vircurex to see if I can do a USD wire from trading acct directly to Gridseed. This will save a huge amount of time and hassle. If either one of these can do it, I will order the units no later than Tuesday and place an update here and on the forum page. I will also post the BTC transfer tx # in case anyone wants to see that. I think the BTC price is close enough to the IPO price that its not much of an issue. Ship time is 3 days after they get the wire.
/fasbit
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Post by fasbit on Feb 23, 2014 15:59:39 GMT -6
We will be ready to "pull the trigger" on this "buy" on Tuesday. Can anyone find any reason why we should NOT make the purchase? I can't find any substantial negatives. After seeing scams like the Hashblaster scam, I'm a bit apprehensive. If anyone can find ANY reason to hold off or to do any more extensive investigation, please share.
/fasbit
If you want a good example of a group who didn't do their homework. Read the last announcement on cryptostocks, for CUMC. See also the resulting stock price.
EDIT - We have several people in the group from mainland China. One of them is verifying the business credentials. I have scoured the forums looking for anything that might be a red flag. I have found nothing.
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Post by cryptodough on Feb 23, 2014 17:41:46 GMT -6
Sounds good. I think we should get the hardware and get the ball rolling!
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Post by gmrpr7 on Feb 23, 2014 19:44:46 GMT -6
Might want to talk to Gridseed about using some sort of escrow service to make the deal if you feel that it's necessary. That's only if people don't mind the 1-2% fee for peace of mind. I'll let the forum decide.
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Post by fasbit on Feb 23, 2014 20:15:42 GMT -6
Sounds good. I think we should get the hardware and get the ball rolling! yea...Im anxious to get it moving... |
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Post by cryptodough on Feb 23, 2014 23:10:09 GMT -6
Might want to talk to Gridseed about using some sort of escrow service to make the deal if you feel that it's necessary. That's only if people don't mind the 1-2% fee for peace of mind. I'll let the forum decide. I would recommend this for peace of mind for investors, although I'm not sure how you do an escrow on a USD wire. Anyone have any insight into this? Is Gridseed willing to deal in escrow? |
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Post by gmrpr7 on Feb 24, 2014 0:53:09 GMT -6
Ebay uses escrow.com so I would assume they're legit. They have a general merchandise escrow category and list wire transfer as a payment option. I'm sure we would be an unusual case, but I'm sure they would accept our transaction (they mention PC hardware as acceptable merchandise). The fee is %0.89, very reasonable IMO.
It's really up to Gridseed (and possibly the Chinese shipper).
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Post by fasbit on Feb 24, 2014 23:18:21 GMT -6
Might want to talk to Gridseed about using some sort of escrow service to make the deal if you feel that it's necessary. That's only if people don't mind the 1-2% fee for peace of mind. I'll let the forum decide. Gridseed doesn't do escrow. Its a one way street. Pay and get inline. |
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Post by granola on Feb 26, 2014 18:36:29 GMT -6
I'm excited and waiting patiently for updates on the mining situation.
I have faith in fasbit.
I hope you may apply the miners to good use (and hopefully too many people don't want to take their miner home rather than you manage it!)
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Post by galvin on Feb 26, 2014 19:24:09 GMT -6
How do you see etheruem effecting the mining scene?
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Post by fasbit on Feb 26, 2014 19:57:48 GMT -6
How do you see etheruem effecting the mining scene? Personally I think any blockchain based crypto-currency has a limited life span. That's my next project... a non-block chain based crypto-currency... |
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Post by fasbit on Mar 7, 2014 16:34:45 GMT -6
Ok... so we all are crypto-nuts because of how much banks are a pain in the ass...and how they jack with you... So I wire the money to Hong Kong (Gridseed Bank is in HK) and I tell BOA to send it in USD because Gridseed's HK account is a USD account. BOA sends it in HKD (not USD), takes an exchange cut and then the HK bank on the other end says whoa...this is a USD acct, we have to convert this to USD.... and they take a cut... so Gridseed sends me an email and tells me I'm $1300 short. WTF!!! So I go back to BOA and spin off... it wasn't pretty.... And this is the amazing part: BOA actually refunded the $1300. I cant believe it.... BOA is evil... why are they being nice and refunding the money?  I KNOW they should do that.... but they really could have stiffed me...and didn't... So... we lost 2 days on that fiasco... I had to do an additional wire... to cover the difference then Gridseed could process the order.... So... I was hoping to have a ship date or ship confirmation today, but nothing yet... I think we should have shipping confirmation by Monday at the latest.... /fasbit |
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Post by cryptodough on Mar 7, 2014 17:02:11 GMT -6
Holy shit. Bank of America didn't complete fuck someone over. Unbelievable! Call Newsweek!!! We've got a story breaking here!!!
In all seriousness though, awesome. Maybe by the 17th or so we can be mining!
I wish I could take off work and fly to your office and help you set them up. I want to see the things!
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Post by gmrpr7 on Mar 9, 2014 2:30:26 GMT -6
Posted by fasbit on Bitcointalk (March 8):
"We are probably March 10th for a ship date. Miners are ordered."
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Post by fasbit on Mar 9, 2014 14:01:47 GMT -6
Drum Roll... Miners ship on Tuesday March 11th from Gridseed to our forwarding agent. (1-2 days???) Beijing to Shenzen. Once they get to forwarding agent, we will get a FED EX tracking number. ###Edit ### Gridseed also informed me that the minimum buy size will increase from 200 units to 1000.... We got in just in time!! This also means that the retail price will probably go up... since there will be fewer players in the market and its a much bigger risk to wire $175,000 than $35,000. I'm thinking we buy a full container... on round 2... sell them on market and distribute the profits as dividends... maybe... Response? |
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I KNOW they should do that.... but they really could have stiffed me...and didn't... So... we lost 2 days on that fiasco... I had to do an additional wire... to cover the difference then Gridseed could process the order....