Topic: Alpha Technology Litecoin (Scrypt) ASIC Miner Order Batch 1 Now! - page 90. (Read 529056 times)

Well good to read on here that some others besides me have gotten refunds from Amex.....as I have also.

But alpha is doomed even with a product ...GAWminers just announced FREE hashing to the people who purchased their Vaultbreakers (6995) 750mh and the smaller
don't know the price 350mh ..while not available as equipment to them yet FREE hashing either temp (till equip shipped prob in a month) or perm xfer to their
virtual hashing farm FOR THE WHOLE BATCH considering that it is likely imho that the GAWminer's Vaultbreaker (before they sold out) was as large at least as
the kNC Titan batch 1 that is likely to arrive at your door in 6 weeks ...well even if alpha got something out it would be way too little way to late

as a Titan purchaser I be screwed ...so expect a big big splash in that folks who ordered the above now have option to hash as soon as they can email
gawminers

As you can see I have their sig at the bottom and am in their sig campaign....but I have NO CLUE how GAWminers is pulling off Hashnet and this virtual
'we will bury' the Titan project (KNC) ......they must have imho really really really big bucks behind them in all I can see...so I'll run their sig until proven
otherwise but if they manage to pull this all off they will own scrypt mining (not entirely sure this is a good thing)

whatever if you got a Vaultminer you are very happy today. As to KNC's reply to all this trash talk by Gawminer's ..nada zip...zilch they have our $$
no refund...and KNC used to be such a good company

anyway live and learn...again I've said this before " a new asic company is like a fresh basket of fruit...all well and good but over time the fruit rots"

we wlll see once the hype has died down on GAWminers if they deliver or not

here is the fighting words

https://hashtalk.org/t/vaultbeakers-come-early/7605

ie alpha is even more doomed then it was before...and it was doomed before..ack! 'double doomed!"

so it goes

Searing

300mhs / $2150 / 3.6KW / pre-order Sept. 20 delivery

http://hashra.com/astrowarp3/

Hey maybe Alpha-T is going to ship Hashra gear ...

How would all you fully paid up customers feel about receiving a 3.6KW miner for your money and letting Alpha-T keep the change ?

you could hire a debt collection service that gets nothing if you don't.   just a thought...

The machines are already worth virtually nothing even if delivered today.  They have a 0% chance of RoI.  A month from now, the hash they produce won't even pay for the "supposed" 300w power usage.  Odds they will deliver within 5 weeks? 0.  They just can't pull it off that fast, they are MONTHS behind schedule, not weeks.  They outsourced everything... EVERYTHING and "hoped for the best".

Unfortunately, I paid in full... because of the threats that I'd lose my deposit if I didn't.  I also paid both in bitcoin.  Odds of me seeing Any of that money back? 0.  Could I win a lawsuit? 99% chance.  Would I be able to collect on that judgement?  Not a chance.  If they find a way to actually produce a product, they would declare bankruptcy to wipe out their debts, sell their business to themselves, and create a new company with no debt and a working product.  Seen it too many times.  That's also how they would "stop the business from being in existence" to wipe out your shares.  If it were even legal for them to give you shares to begin with.

Never risk more than you can afford to lose: and I didn't.  I've taken a number of risky crypto based investments, and I lost about the same as I've gained in the last 8 months.  Might have lost a couple hundred, but not that big of a deal.  This... I've written off as a 100% loss.  But... I've gained knowledge and wisdom.  Don't buy something that doesn't exist.  Don't buy ASICs EVER.  There's simply no way to make your investment back, simply based on the quantity these multiple companies are producing.  No matter what the speed is, if a company sells 10,000+ units of some Super Asic, the difficulty will rise so high that even the super Asics no longer makes it's cost back, Ever.  It's guaranteed self-obsolescence.

I doubt they get this done.  As you say, what was the last update?  Shouldn't we be hearing about tapeout, ASIC packaging, component delivery, assembly line establishment etc.?

If they were getting set up, we'd be hearing about that progress, I think.

And still nothing new on their 'stock offer' 

I'm also watching people pull their money successfully and am starting to wonder if they're simply going to declare bankruptcy to stave off the lawsuits.

They're accountants, if I recall, so they'll understand how to work the numbers up on that, I would imagine.

There should be progress updates, there should be news on their customer stock offer or whatever, and there's nothing, as far as I know.    I've also seen enough of these pre-order/development projects to know that no news is usually bad news. 



Odds they just go belly up and ship zilch are looking pretty good to me right now.  Odds they ship all orders by end of Sept look to me to be zero.

4 weeks and 1 day until the magic fairy deadline. (didn't they say mid-september though?)

Reversing the numbers:

Figure 2 weeks for assembly, workup Q&A and completion of batch shipping; 1 week for testing final chips and power systems, based on how other places have been operating.

Their last noticeable update was that they had almost finished case design, almost finished the supplimentary and accessory PCB's, and none of the software was ready. Lots of almosts there. I almost won the lottery last week.

They have, what, 1,200 or 2,500 systems for first batch? Initially they opened it up to 1,200 iirc, but then opened it up for more funding sales and left it open for a month.

So:

At 15 minutes per machine to assemble and test basic operation to warm temps, 4 machines an hour, 40 machines in a 10 hour work day for 1 person with no breaks. 20 business days * 40 = 800 machines. So a workforce of 2-3 would suffice to cover the assembly, testing and shipping.

This all hinges on the following items being ready and in their hands within the next 7 days:

* Shipping material, label printer
* Completed chips
* Final cases
* Final PCB's for everything
* All wires / tidbits
* PSU's

Perhaps they already have most of that, and most of it is assembled! Tick-tock goes that clock..

Are they pre-paying customs fees? I can't recall. That'll add a nice chunk of money to people's bills.

i need that machine next month.

no more delays

no more excuses

The air is coming out of that balloon in a hurry.  lol.

good for you on getting your $ back from these guys.  I hate these pre-order scams and these companies that try to jam it to people.  anything that contributes to the end of that business model is good for cryptos, far as I'm concerned.

Well, I got my $ back from Amex and already bought 50KH hosted Hashlet from GAW for $799 - $10 coupon.
Cant say I miss Alpha, but still waiting on Terrahash refund. lol

Please don't speculate.  we will issue a statement soon.

until then no questions, and all posts not loving us will be deleted.

 

 "2 weeks" 

SOON!   

any new updates regarding the actual miner ? or any news regarding their company(+shares) ?? -.-

Yep, do it right now.  Stop listening to the noise coming out of Alpha and take action immediately.

Even if these do show up in September, which I doubt, they are likely losers.  If you want to see your money, you'll have to do something and the sooner the better.  You don't want to end up at the end of the line on this one.

Also here: http://www.abunchacrap.com/Alpha01052014/atindex.html

I suggest you don't delay.

see this site:  fightalpha.net

that's the stupidest thing I've ever seen.  No court in the world gives two shits if a company is producing a product.  If they've violated the rights of the consumer, which Alpha has, they are going to stick a red hot poker up their ass.  if you're not already a shill you should apply for a job.  you can go suck Mubasher's dick for money, if you are not Mubasher already.  If you are Mubasher, which seems likely to me, you can go suck your own cock, asshole.  Go bang your mother while you're at it.  Tell her she is not a mother and cite a tax brief categorizing her as a whore while you're drilling out her ass and emptying her purse.



Anyhow, I've been watching this stuff with Alpha for a while, had a pre-order in for 2 large units.  My credit card company gave me my money back Friday.

Fuck you, Alpha Technologies.  And fuck you Mubasher, you low-life prick.  Trying to fuck people out of their money by making up the law as you go along is about to get very expensive for you.  Your attorneys will pick the meat from your bones and laugh at how they walked you down the path right into the courtroom so they could billable-hour your ass to death.

Seeing as you tried to assfuck me out of about 6,000US (18,000 if I'd been dumb enough to pay the balance) I'm going to help whoever I can get their money out of your shitty fucking company, run by children with no hair on their balls or brains in their heads.



Here's how I went about this, for those trying to get their money back.  Obviously, I paid via cc, so I was lucky, but for those prepping court docs, I think this applies also.

I obviously pointed out the DSR and quoted the following:

“Under the DSRs, a customer’s right to cancel is unconditional.
If customers cancel before they have received the goods, you must refund the total price of the goods, including any delivery charges.
If they cancel, they can refuse to accept delivery of the goods. This cannot be treated as a breach of contract.”
I obviously cited the DSR and quoted the following:  

DSR is here:  http://dshub.tradingstandards.gov.uk/dsrexplained

I stated that Alpha was not denying that this law would apply to consumers, but rather was trying to recategorize their customers as businesses rather than consumers.

I stated that I was not a business and also that no representation was made by Alpha prior to sale that these sales would be treated as sales to a business.  Further to that I pointed out that the tax brief they repeatedly cite was issued AFTER my purchase and that it clearly states that it is for tax purposes only:


“The tax treatments outlined in this brief are for tax purposes only. They in no way reflect on the treatment of cryptocurrencies for regulatory or other purposes.

Given the evolutionary nature of these cryptocurrencies, HMRC will issue further guidance as appropriate.

Issued 3 March 2014”


What I also cited, which may be new to some people, is the Consumer Protection from Unfair Trading Regulations 2008, which prohibits material omissions of fact, among other things.  This omission of intent to categorize this as a B2B sale prior to sale is a material fact that was not disclosed prior to sale.  Alpha T is in violation of several things in this law.  I would recommend anyone trying to get a refund read that entire thing, there is plenty in there that can be used.

It is located here:

http://www.legislation.gov.uk/ukdsi/2008/9780110811574/regulation/6



I'll also tip my cap to whoever has the fightalpha.net site up.  There is a ton of good info there in terms of statements on delivery dates, etc, that can be used.  I came across it after I filed my stuff but for those going in now it is a good resource.  I will contact him on the Consumer Protection from Unfair Trading Regulations law so it can be added to his site, as I think that's important.  That law nullifies their entire claim to be able to simply recategorize consumers as businesses, among other things.



Put together your materials in an organized fashion and file.  For the items cited, cite their own e-mails to back them up.  If you have an e-mail discussion going cite that also.  You have a very good shot at getting your money back.  If it's through a Credit Card company or PayPal it's a slam dunk, IMO.  In those cases simply point out that, yes, it's been after 45 days or whatever, however the breach of consumer law happened after that 45 day period and still before delivery.  I would also recommend going to your CC company first.  I've run across material on PayPal that they will try to argue for the vendor, with whom their interest lies, so go to the CC company first if possible.  If you have to deal with PayPal, go for it.  I've seen some people argue successfully there also.

In terms of court filings, go through the materials above and cite the laws, and how their statements and actions have conflicted with them.  I think you have a very good shot there also.  I would do it ASAP, as I think these guys *will eventually fold under the legal strain and expense, so get your claims in before they fold their tents and run for the hills.  

*Standard Disclaimer*  **I'm not a lawyer and this is not to be construed as legal advice.  It's my opinion of their position and what worked for me.  Hope it works for you if you decide to pursue a refund**

Good Luck.

Terrahash was the company that almost got me, I could not find the thread with good information.

But basically try paypal (chances are slim if paypal has released the money to the company and it's been 45 days).   Then hope credit card company if used a CC. They are all different but some there is a chance.

Here is a example of a company being sued for fraud with bitcoin terrahash - http://www.sccaseinfo.org/pa6.asp?full_case_number=1-13-CV-254284&crumbs=Civil%20Index&crumbs=Party/Case%20Type%20Search&crumbs=Party/Case%20Type%20Results&crumbs=Cases%20Involving%20Amir%20Kahn

You will see it's a slow and long process. I don't know how this compares to with company being in UK.   But sadly in terrahash a lot lost their money.

*I am not a lawyer, all people innocent until proven guilty, if I am wrong no harm was meant, i got my training off law and order (standard don't sue me)

i will have my alpha tech asic IN my home within 5 weeks and 3 days!!!

woooohoooooo!!!

Isn't it a British registered company? If that is the case, I don't see why legal action is not possible.

You can also bring civil lawsuit and sue the CEO for negligent.