Topic: Alpha Technology Litecoin (Scrypt) ASIC Miner Order Batch 1 Now! - page 129. (Read 529056 times)

I don't know if my case went to small whatever or not, but whatever the lawyer is doing seems to be working.

article on Coindesk.com Alpha Blames Paypal


http://www.coindesk.com/alpha-technology-blames-paypal-dispute-bitcoin-asic-delivery-delay/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+CoinDesk+%28CoinDesk+-+The+Voice+of+Digital+Currency%29

if you click it it will zoom in or download it.

Something wrong with the image Anderl

Never gonna happen.  They already lot a lotta money on their "Risk chips"  (LOL)  That money is gone.  Do you think they are even going to be able to afford wholesale prices on competitor miners?  Any competitor would prefer Alpha Tech to fail so they can get the customer base.  If Alpha tech survives (on the snowballs chance they do) then it may become competition to them. 

I would LOVE that !!!

That is one incredibly slimy character. So much so I wonder if it is the real Fiaz Malik. Or if it is he was planted in their from day one to manipulate the victims. The guy has an answer for everything and appears more astute in business matters than necessary for a so-called "community manager" or whatever his little designation is. Sneaking suspicion that that is the dubious financier at work under his login.

So it is true then.  Fiaz is defending the shares for profits model on this thread.  He isn't denying it and is going so far to as to defend it.  Good job letting the cat out of the bag.   Oh Fiaz.  Whaaaaa whaaaa whaaaaaaaa.

In order to spare people the monstrous size of the files here is the link to the screen
http://imageupper.com/s02/1/4/N140667240152594_1.png

Anyone who paid with CC don't give up on getting a refund of your deposit via dispute, I just had mine confirmed by Discover today, dispute closed in my favor, so 100% refund to me, and I'm out. I wish everyone else the best of luck.

You mean this business plan?  Yeah I remember.

BWAAHAHAHHAAAAA!!!!! OMG!!!!

So THAT is the big announcement?!?!?!?  They purged their forum of all threads and locked a thread so customers can vote if they want a share of the company if they hold out till Sept and don't sue their asses off?  So its a swindle.  Alpha Technology asks the customers to agree to new terms and conditions and to provide business names on their accounts and in turn the customers give up any consumer protections.


So what are you getting for a share of the profits?
An ASIC company that failed to make tape-out
An ASIC company that is in break of its original terms and conditions.
An ASIC company that is having lawsuits started against it.
An ASIC company in violation of Distance Selling Regulations.
An ASIC company with  he majority of their assets frozen.
An ASIC company that cannot get a card processor to work with them.

This is getting worse than Hashfast.  At least Hashfast pretended that everything is okay all the way to the day they filed bankruptcy.  Alpha Tech is floundering and admits its floundering and won't survive and they need angels to come in and save them from extinction.  My guess is that Alpha is begging them to take the offer.  Probably passive aggressively alluding that they will tank the company and go int bankruptcy and no one will get anything and this is their only chance to get something.

I give Alpha 30 days before it shuts its doors.  O wait those steel curtains have been shut the whole time huh?

To that end we never even saw any proof that the initial tape-out was ever done/ordered/commissioned.

Yeah. Fiaz et Consortes Inc(ompetence) meet Dallas Byuers Club.  

Again some MLM salesman tricks. Enough of this fugazi mumbo jumbo style. Just show the current plan with dates & milestones and update on them every single week. Show the documents from foundry that you have started 2nd tapeout - that's what you should begin with to proof that you are not creating new construct on another lie. Without this no one should give you a broken penny. Did you start 2nd tapeout already Fiaz? Show us agreement with foundry when they have promised you the chips delivery.

Oh, I wouldn't believe a word they say, now. Their shipping date promise is as hollow as every other promise. If they were committed to it, they'd put it in their T&Cs

It's kind of funny how shit hot they are on the legalities of refunds, yet shipping dates are as transient as mist. "Hope" is not a valid commitment. I'm not sure what holds them to September other than their word, and I think a lot of people don't think very highly of their word. Less talk, more action.

Lets just just assume, worst comes to worst, that they don't ship in September. Blah blah, setbacks., blah blah. What then? What's to stop history repeating? Words aren't enough.

Well, let me guess the next move …

Carrot: Pay up or no dividends for you
Stick: We are going to keep your deposit

I think 'A bird in hand is worth two in the bush' especially if you can buy an equivalent product today that ships in 2 days for less than it costs to pay your Alpha-T order, which you 'might' receive in September.


This seems to be the season of FAIL for mining companies. Spondoolies SP30 surprise, Bitmain S3 shortcoming, KNC Neptune 1 PciE connector, Alpha-T (tape out problems). What ever happened to Fibonacci and Flower btw ?

That statement may be TRUE. Its the rest of the LIES I'm worried about. We're all supposed to believe their word is now gospel when they have lied from the start. The Coindesk article sums up this whole mess pretty well.

Was just about to post this also.

I find the previous quote even more surprising, blaming everything on PayPal

“The delay is purely down to PayPal,” he said, adding that the company has decided to offer its first-batch customers shares in Alpha Technology, in addition to their miner

They might not be lying about Paypal holding on to funds. That's what they do in disputes. They've also recently (last six months, I believe) enacted a reserve system, so they'll hold on to a % of all your Paypal funds, judged based on certain risk factors. Legal, credit score, disputes, and so on.

I do think they're scapegoating to the highest degree here, but there may be a tiny grain of truth in that Paypal are probably holding on to a decent chunk of the payments they've recieved via Paypal.

It's a bad excuse, though. I don't think the funds they can't access are that high compared to what they've obtained elsewhere, and the tapeout issues clearly demonstrate their lack of experience and inability to operate as an ASIC developer.

The reason I have doubt is that after 60 days (soon to be 90, if not already, although I don't think it's retroactive), you can no longer make a paypal claim. So if they do have money issues, it's with Paypal's reserve system. If you paid via card via Paypal, I believe you can still initiate a charge-back.

They're accountants. No surprise they'll blame accountancy for their problems.

Yeah … it really smelled like it.