Part 2, what we do while we wait for our 1st miners.


 

I guess the upside to having to wait is now we can go into full planning mode. We also know that to make it work we will need to buy more miners as a triangle of 3 will work better than a straight line of just 2. I can’t imagine many people in a small village will be buying them so it is down to us to make our own little network. What, when where and also how ..............What else do we need, when will that arrive, where will we put these miners, how are we going to get people to put them in their homes, how are we going to translate this into a language that we know the basics of but are not fluent in.

I start to write up a question and answer sheet, tear it up, re write it and repeat until we have something that covers the basics without being too complex. We explain to people that for having one of our miners we will pay their monthly internet costs. I also draw up a basic contract (again write, tear up re-write) we will have  miners going in to a people’s houses that are expensive and that you have to wait months to receive so we want to cover ourselves and them. I also need someone to read through this to tell me if it makes sense when translated and to translate it for us. We have a meeting with our translator; he changes a few bits and then draws up for us the Q and A and the Contract in both languages.

 

Ordering more

 

OK let’s do this, so just as a refresher we watch the video again on how to buy a miner and feel we are ready to go for it. So we go to the 'normal' bank account to transfer into Binance, but the UK bank says no..........not because the funds are not there but because the traditional banks want to stop people using crypto currency. They say it’s because it’s unregulated but I guess they would prefer people’s money to be with them. So what do we do now, well we have a building society account so perhaps we can use that. We do a small test to see if it works, it did it went through so we then tried a larger amount.....No they would not transfer that 'for our safety'. So after a bit of a rant between ourselves about how it is our money and we should be able to do what we want with it we do more research on finding a new bank account that will allow us to transfer to the crypto account. We find one called Revolut set up an account and wait to be verified, this could take a few days. Wait and be patient!

 Well that went through so we have a new account, we transfer the money from 1 bank account to the new Revolut to the Binance then change that to USDT, it really was money here, money there, in out, are you keeping up because I was having trouble.

We were finally ready to place another order, we were not quite as nervous, definitely not as sweaty and feeling more confident. Hey presto the order is placed, we felt quite pleased with ourselves, then we ordered more and didn't even panic when the payment method changed slightly. We still have to 'wait and be patient'. We make a little graph showing the expected delivery dates of the different orders. We now have 4 orders placed for a total of 12 miners.

 

The new suppliers

 

Well as there are now new suppliers that are selling miners that are in stock we thought we should have a go at buying some on the day of the sale. We set up accounts with these different suppliers, check out payment options and see visa, fantastic we just have to wait for the day of the sale.

It arrives and we are set up with laptops, hones and a pen and paper (for me of course!)

I can do this, im quite good at just putting items in a basket and clicking buy.

We watch the countdown, 7,6,5,4,3,2,1 go......

I get as far as inputting our address then the site crashes, David on another laptop got as far as payment method, which is now definately not visa but bank transfer only. We find the address of the bank to input it but the site crashes again. 

As we sit there waiting we see the news that there were only 50 miners available and they only went to people in South Africa, thousands of people trying to buy and there was only 50! On the plus side they are having another sale in a week or 2 for customers in Europe so we wait again.

 

The next sale

 

So the day comes again for another sale of miners, it was much the same as the last time, site crashes, payment details in site crashes, this time though the tweet pays off and our order has been manually processed. We finally have some miners that should arrive in weeks instead of months, just wait for an order confirmation. The fact that these miners are in stock is even more important now as the Bobcats we ordered earlier have now changed from 12- 20 weeks to 20+ weeks.

Now only a few days later there are more sales of Sensecaps from different suppliers, they say they have learnt from other sales where sites have crashed from thousands of people logging in to buy a limited amount of miners, even though the maximum number you can order is 3. They have set up a system where you buy a voucher first, you can only buy the voucher with HNT, you then go to another site to order which you can only do if you have a voucher and pay the balance with PayPal

Well we are ready to try this new way of buying miners. The day before we do a small test to buy some HNT, that works and does not take too long so again we buy more to make up the amount we need to buy the voucher, this takes a lot longer and it only just goes through by the next morning, the morning of the sale.

We are ready, we are going to try from both companies, both sales start at the same time, 1 company is Seeed, and 1 is Officini. We have laptops ready, phones ready and of course I have pen and paper!

As soon as 9 o’clock comes we click and we are in the queue for Seeed. We are number 0143 in line; we do the maths, if everyone orders the maximum of 3 there won’t be enough! They also tell you the waiting time is 50 minutes; we don’t take our eyes off the screen.

At the same time I am scrawling my name, address, country and a love heart on a piece of paper, while saying get the camera ready,’ quick take a picture’. I could see the look of confusion on David’s face but do not want to waste time explaining that the Italian site wants a photograph of a handwritten note emailed to them to be in with a chance of buying just one of their miners. They only have 100 so it is 1 per person

. Well the note has been emailed but we hear nothing. Back to Seeed, after more waiting we are in, we now have to buy the 3 vouchers. We have to scan the QR code that is on the phone, with the phone! Think, think, ok take a screenshot then scan that with the phone (note to self at that moment, I must get myself a modern phone!). You try to work fast knowing that time is against you yet again, but we have done it, we have 3 vouchers we must check at least 3 times that we do actually have them. Once you get the vouchers you have 4 hours to use them or you lose that money, so on to the next site to pay the balance.  It gets messy now.

The site crashes again and again, the 4 hour time limit is going down and down, we are nervous again, sweaty palms again, we keep trying, still crashing. We look at tweets, some have managed to pay, but the tweets are coming in faster than I can read them. People are asking for help, what should they do? There has been no official comment from the company, people are worried they are going to loose their money, the hours pass and we now have 1 hour left. Finally something from the company they say they are having a meeting and that their servers are busy. We have heard nothing from the Italian site so we are resigned to the fact that we won’t get that one.

Then some good news the 4 hour deadline for the vouchers to be used has been cancelled and they will honour all vouchers (huge sigh of relief from both of us) we are not panicking now so try again to pay, this time it actually goes through and we get a confirmation that we have paid. We have been at our laptops for 7 hours! We have done it though and these miners should be with us in weeks instead of months.

So we carry on with the rest of our day and a few hours later when checking Emails I see one that asks me to type a number into a box, I read it 3 times before I realise it is from Italy and my little drawing has paid off, so we put the number in the box and pay by visa in just minutes. We were elated that we had managed to get just 1 from the 100 they had and that it was the easiest one to pay for.

 

It is July, we have now placed orders and paid for 17 miners and we are expecting our first delivery in August (hopefully before the halving, but more about that later) we have taken a huge risk but we are 100% committed and now broke. We have put everything we have into this our savings, our contingency cash fund, the lot. We are normally I would say risk adverse; I wonder if we are having a mid life crisis while I count the change pot to see how much is in it.

 

 

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crypto newbie mom
crypto newbie mom

I have had an interesting rollercoaster ride into the world of crypto and want to share my story.


A foray into crypto, A technophobes journey
A foray into crypto, A technophobes journey

A personal blog about how we got into crypto and the rollercoaster ride it was.

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