Address with Avalon bulk chip payments now tops $8 million...

RoadStress

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Quote from: dyseac on August 16, 2013, 09:42:26 PM

Quote from: Ytterbium on August 16, 2013, 12:30:51 PM

But, if Bitsyncom still controls all those btc, how did they pay to produce the chips? I find it kind of doubtful that someone actually lent them millions of dollars.

Well exactly 1000 BTC are missing from the wallet which is roughly $1,000,000

Perhaps that was their total chip production costs and the rest is cream? - good business model Grin

Maybe they paid their Gen 2 chip fab.

dyseac

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Quote from: Ytterbium on August 16, 2013, 12:30:51 PM

But, if Bitsyncom still controls all those btc, how did they pay to produce the chips? I find it kind of doubtful that someone actually lent them millions of dollars.

Well exactly 1000 BTC are missing from the wallet which is roughly $1,000,000

Perhaps that was their total chip production costs and the rest is cream? - good business model Grin

Ytterbium

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Quote from: bitcoiner49er on August 16, 2013, 12:22:06 PM

Quote from: Ytterbium on August 16, 2013, 12:14:21 PM

I'm guessing whoever actually owns those addresses is getting priority access to chips though, ahead of other Avalon customers.

We got a quick-wit here fellas! Cheesy

j/k

That's exactly what I'm saying. And all indicators show "them" moving BTC back into Avalon addresses.

We see both the mining proceeds and the chip sales flow into the same address. But so far it's a 1-way flow. It could be a dividend payment to one of the members of bitsyncom, it could be money flowing into the wallet of a major client. There's no way to say whether or not the wallet is "inside" or "outside" of bitsyncom.

But, if Bitsyncom still controls all those btc, how did they pay to produce the chips? I find it kind of doubtful that someone actually lent them millions of dollars.

Bitcoinorama

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Quote from: Ytterbium on August 16, 2013, 12:14:21 PM

Quote from: bitcoiner49er on August 16, 2013, 12:00:00 PM

There are "payments" out of 158mVoizfU3xPxGGchGtnsKSixGs9XTo6v.

The first payment out of 1FGAftzSTztFSB8LMwsrdCKTyqGY6zr3sU didn't occur until yesterday. (8/5)

Since that's the address that collected payments for the chips, if there were 1 million chip orders, then how did they pay TSMC and other companies get paid?

Do you think someone extend Bitsyncom a line of credit?

Yes, Bitsyncom Split, and Yifu has been reportedly running around with dodgy Banksters according to an article in the WSJ everyone is so dismissive of.

Quote from: Loredo on July 08, 2013, 12:30:20 PM

Quote from: alfabitcoin on July 08, 2013, 12:23:34 PM

Quote from: Loredo on July 08, 2013, 12:05:33 PM

Quote from: yuchuanzhen on July 08, 2013, 11:19:07 AM

Basically,this team designed chips(110nm) for Avalon.

And for some unknown reason,they are looking for some new partner/investor.(40nm)
And,we don't know what happened inside Avalon.

To summarize what you and johnyj have said:
(1) Key members of the Avalon design team are now independent of Avalon;
(2) This new design team is proposing the development of a 40nm chip;
(3) The team is seeking investment - as in capital, as opposed to crowd source or pre-sales.

IS THIS CORRECT?

Where you assumed that they seek investment or new partner? Also, where is evident that they bitsysncom asic team has split inside?
Maybe this has something to do with btc address for chip purchases? Yifu said that who claim that they own that btc address.

This is why is asked for clarification. As to my inferences:
(1) yuchuanzhen stated "Based on the author's words,may be some thing happened to the Avalon team.And,most like a big one."
(2) and (3), yuchuanzhen stated "And for some unknown reason,they are looking for some new partner/investor.(40nm)"

Again, this development is currently, in primary source, in Chinese. I think everyone who is reporting it, in English, should be very careful to be very clear. Presumptions themselves may not translate correctly, even if they are, themselves, correct.

bitcoiner49er

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Quote from: Ytterbium on August 16, 2013, 12:14:21 PM

I'm guessing whoever actually owns those addresses is getting priority access to chips though, ahead of other Avalon customers.

We got a quick-wit here fellas! Cheesy

j/k

That's exactly what I'm saying. And all indicators show "them" moving BTC back into Avalon addresses.

Ytterbium

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Quote from: ionstorm on August 16, 2013, 12:17:49 PM

there is no way they could get 1 million or 2 million chips hashing with a small team in a few weeks, I bet what happened is they decided to use our chips to hash with and earn enough to re-order chips to be made, and then shipped to us I bet that is happening now since all of the transactions are happening now. Probably some of those receiving addresses are TSMC or bitpay that you see, they are either making more gen 1 chips since they are using ours or making gen2 chips or its a TSMC address. Either way were fucked and Avalon is profiting more off this situation since they have their own miners regardless of the situation.

Yeah, this is the problem. You hand your money to these companies. They pay for chips. But once they have the chips they actually have no incentive to distribute them in a timely manner - in fact, they have a lot of incentive to delay.

ionstorm

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there is no way they could get 1 million or 2 million chips hashing with a small team in a few weeks, I bet what happened is they decided to use our chips to hash with and earn enough to re-order chips to be made, and then shipped to us I bet that is happening now since all of the transactions are happening now. Probably some of those receiving addresses are TSMC or bitpay that you see, they are either making more gen 1 chips since they are using ours or making gen2 chips or its a TSMC address. Either way were fucked and Avalon is profiting more off this situation since they have their own miners regardless of the situation. I'd have to say if they do not prove that their customs delay is not true we could legitimately sue them for lying and misleading their customers and with good probability win damages calculating the hash rate lost and distribute all the funds to group buys then individual buyers. If we can prove without a doubt that Avalon has mislead us we will win in court.

Ytterbium

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Quote from: k9quaint on August 16, 2013, 12:07:41 PM

Quote from: Ytterbium on August 16, 2013, 11:57:51 AM

Quote from: Bitcoinorama on August 16, 2013, 11:56:50 AM

It would be 592,800 Gh, 593 Th, or 0.6Ph at 282mh/s a chip.

Why would they be running at 282mh/s?

I did mix up PH/s and TH/s, though. The current network hashrate is 370TH/s, so it would still be twice the current hashrate. Obviously, they could not currently be hashing.

Not all of them no. However ,those chips have been available to orders in China for weeks now (no customs to go through). It is safe to assume that a lot of them have shown up in the hash rate.

People are selling chips on Alibaba, but those chips are not immediately available. Those sellers are waiting on chips themselves. Someone emailed and asked, they said they wouldn't be available until Aug 18th.

Also, remember he said only 200k chips were "stuck in customs." 800k chips were apparently shipped. Although that seems like b.s.

Ytterbium

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Quote from: bitcoiner49er on August 16, 2013, 12:00:00 PM

There are "payments" out of 158mVoizfU3xPxGGchGtnsKSixGs9XTo6v.

The first payment out of 1FGAftzSTztFSB8LMwsrdCKTyqGY6zr3sU didn't occur until yesterday. (8/5)

Since that's the address that collected payments for the chips, if there were 1 million chip orders, then how did they pay TSMC and other companies get paid?

Do you think someone extend Bitsyncom a line of credit?

Another explanation:
Someone, or some group bought 100 B1 avalons.
That same entity bought the bitcoin used for the chip orders, and gave bitsyncom the money to pay for the chips.

Now, maybe this entity did get the chips first and a second batch is being run to give out to other orders. However, as I said if there were really 2.1 million chips then there would have to be at least 700 terahash on the network, and there's only about 380Th/s on the network. So either those chips don't exist, or they're not online.

I'm guessing whoever actually owns those addresses is getting priority access to chips though, ahead of other Avalon customers.

Quote from: Bitcoinorama on August 16, 2013, 12:03:12 PM

They won't necessarily, but that' Avalons standard clock speed. Some will OC, some won't. Some will OCoverdose, some will be DOA.

Some err...go missing.

Pretty much everyone's been able to get them to run at 350, and 300 is actually the default speed.

Bitcoinorama

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Quote from: k9quaint on August 16, 2013, 12:07:41 PM

Quote from: Ytterbium on August 16, 2013, 11:57:51 AM

Quote from: Bitcoinorama on August 16, 2013, 11:56:50 AM

It would be 592,800 Gh, 593 Th, or 0.6Ph at 282mh/s a chip.

Why would they be running at 282mh/s?

I did mix up PH/s and TH/s, though. The current network hashrate is 370TH/s, so it would still be twice the current hashrate. Obviously, they could not currently be hashing.

Not all of them no. However ,those chips have been available to orders in China for weeks now (no customs to go through). It is safe to assume that a lot of them have shown up in the hash rate.

What? Not BFL??!

k9quaint

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Quote from: Ytterbium on August 16, 2013, 11:57:51 AM

Quote from: Bitcoinorama on August 16, 2013, 11:56:50 AM

It would be 592,800 Gh, 593 Th, or 0.6Ph at 282mh/s a chip.

Why would they be running at 282mh/s?

I did mix up PH/s and TH/s, though. The current network hashrate is 370TH/s, so it would still be twice the current hashrate. Obviously, they could not currently be hashing.

Not all of them no. However ,those chips have been available to orders in China for weeks now (no customs to go through). It is safe to assume that a lot of them have shown up in the hash rate.

Bitcoinorama

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Quote from: Ytterbium on August 16, 2013, 11:57:51 AM

Quote from: Bitcoinorama on August 16, 2013, 11:56:50 AM

It would be 592,800 Gh, 593 Th, or 0.6Ph at 282mh/s a chip.

Why would they be running at 282mh/s?

I did mix up PH/s and TH/s, though. The current network hashrate is 370TH/s, so it would still be twice the current hashrate. Obviously, they could not currently be hashing.

They won't necessarily, but that' Avalons standard clock speed. Some will OC, some won't. Some will OCoverdose, some will be DOA. Some will err go missing.

bitcoiner49er

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Quote from: Ytterbium on August 16, 2013, 11:52:56 AM

The problem with that theory is that it would mean Avalon paid $0 to actually buy the chips.

Yifu said there were 1m chips, with 200k "stuck in customs"
If you assume there are 135 boxes, with three inner boxes each it comes to 1.05m chips (you can only see 3 inner boxes in the photos)
The payments to that address are about the cost of 1m chips.

So all of the evidence is consistent with the existence of 1m chips.

Additionally, if there really were 2.1 million chips made those chips could not be hashing, since that would be over 700PH/s .

There are "payments" out of 158mVoizfU3xPxGGchGtnsKSixGs9XTo6v.

Ytterbium

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Quote from: Bitcoinorama on August 16, 2013, 11:56:50 AM

It would be 592,800 Gh, 593 Th, or 0.6Ph at 282mh/s a chip.

Why would they be running at 282mh/s?

I did mix up PH/s and TH/s, though. The current network hashrate is 370TH/s, so it would still be twice the current hashrate. Obviously, they could not currently be hashing.

Bitcoinorama

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Quote from: Ytterbium on August 16, 2013, 11:52:56 AM

The problem with that theory is that it would mean Avalon paid $0 to actually buy the chips.

Yifu said there were 1m chips, with 200k "stuck in customs"
If you assume there are 135 boxes, with three inner boxes each it comes to 1.05m chips (you can only see 3 inner boxes in the photos)
The payments to that address are about the cost of 1m chips.

So all of the evidence is consistent with the existence of 1m chips.

Additionally, if there really were 2.1 million chips made those chips could not be hashing, since that would be over 700PH/s .

It would be 592,800 Gh, 593 Th, or 0.6Ph at 282mh/s a chip.

Ytterbium

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The problem with that theory is that it would mean Avalon paid $0 to actually buy the chips.

Yifu said there were 1m chips, with 200k "stuck in customs"
If you assume there are 135 boxes, with three inner boxes each it comes to 1.05m chips (you can only see 3 inner boxes in the photos)
The payments to that address are about the cost of 1m chips.

So all of the evidence is consistent with the existence of 1m chips.

Additionally, if there really were 2.1 million chips made those chips could not be hashing, since that would be over 700TH/s .

(edit: wrote 700PH/s initially, obviously meant 700Th/s, which is twice the current total network hashrate)

davewr2013

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Bitcoin For All

Best way to order any BitCoin chips seems to be CIH-ONS.

(Chips in Hand -- Or No Sale)

Just sayin'

bitcoiner49er

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Quote from: eroxors on August 16, 2013, 10:18:42 AM

Quote from: bitcoiner49er on August 16, 2013, 09:52:03 AM

Seems like there are some who cannot connect the dots here:

This address 1BxD2VLE95n7ZeVJSy3uoiJ5WdR72jWj5fhas been mining blocks since April 2013 to the tune of 40/month on average until the end of July. Rough estimate is about 100 Avalon units (68,000 GH/s) would be needed to accomplish this. Which is about 24,000 chips. How many of these addresses are there? Unknown.

However this address moved 3000BTC to this address 16ygEoTjg7P5GJwLKTQd1UgqAGuF8bKVRc which saw 43,500BTC move through it.

and yesterday 2000BTC was moved to 158mVoizfU3xPxGGchGtnsKSixGs9XTo6v. Bookmark this address, you'll see why in just a second.

This address 1FGAftzSTztFSB8LMwsrdCKTyqGY6zr3sU has been widely believed to be the Avalon chip order payment address.

Zefir's 1st payment to YiFu is here: https://blockchain.info/tx/4865b6b925af6885f1f9b71428bb82c052d6f243d72373b8afd3dcc3b0331641

This chip payment address 14odFwJHi6S1Rpuu9CnqZHy49qjc6F2Zd9 has the bitcoins withdrawn to 1FGAftzSTztFSB8LMwsrdCKTyqGY6zr3sU, confirming that this IS indeed Avalon's address. YiFu never said it wasn't his/Avalon's address only, "who says we control that address in the first place?" (https://bitcointalksearch.org/topic/m.2399090)

Jump to yesterday August 15th, 2013. 10,000BTC are moved to 16ygEoTjg7P5GJwLKTQd1UgqAGuF8bKVRc, gee that 43,500 looks familiar.

Of which 2000BTC are sent to the address I told you to bookmark earlier 158mVoizfU3xPxGGchGtnsKSixGs9XTo6v.

So how many 100 Avalon unit farms are there? At 24,000 chips per farm, it is easy to see where many chips have gone. Why send chips when it is easier to make BTC with them? Then, EVENTUALLY/Two weeksTM when the difficultly makes the chips rather meh, and you can stall no longer, you send them out. That is where we are. Played like a harp.

Yes, because it makes complete sense to assemble chips into units, mine for them for a month then remove and ship them.

Hello McFly!

Other chips are being made to send to us (allegedly).

tarmi

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Quote from: eroxors on August 16, 2013, 10:18:42 AM

Yes, because it makes complete sense to assemble chips into units, mine for them for a month then remove and ship them.

no need to remove them or anything.

just order another batch of worthless asics for all the suckers from bitcointalk.

or refund, and keep the interests.

Bitcoinorama

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Quote from: eroxors on August 16, 2013, 10:18:42 AM

Yes, because it makes complete sense to assemble chips into units, mine for them for a month then remove and ship them.

Obviously not...unless you plan to refund.

Topic: Address with Avalon bulk chip payments now tops $8 million... (Read 18116 times)