Topic: [ANN] xCrowd*US/UK*TH/s+ Units - page 5. (Read 49040 times)

Funny how they went silent right after I emailed TSMC.

No, I'm saying in the top part it's one way, in the bottom the other.

Escrow terms -


Bulk shipping start date - 20-12-2013
...............

Escrow release terms -

Bulk refund if we fail to start bulk ship before 25-12-2013
...............


To xCrowd

I look you change several time  DIFFICULTY RISE INSURANCE
 
Please can you stop change at the end , so we know what  condition
exactly we accept and expect from you.

50% , 25%, free.,.,., 40,000.,.,50,000 ,.,2,7,.,.,3,,,,.Peta hashes,., etc.

you know , what i mean

Bloody americans.

12/20/2013 = united states

20/12/2013 = EVERYONE IN THE WORLD

o.0

Where´s Wally? 

EU date = DD-MM-YYYY

US date = MM-DD-YYYY

Isn't that the European style of dates?

Why is the date inverted there? What if they argued in court that meant March 12, 2014, lol.

Couldn't get Escrow to work because they request for Passport, Driving License and what not? or still searching or creating  their identity

Still silence from him?

No, I never said that. I said if legitimate, and if they have private equity funding, as they have claimed, that escrow only facilitates placing those funds in cold storage so to speak. They in effect are preventing you from then spending monies on their direct competitors should a more preferable alternative appear, like purchasing a product in stock should a company clear it's backlog, or a new entrant appear, or alternatively if they suffer a setback, or delay, depending on what the terms of the escrow are.

Certainly from an engineering design stance, those products look wayy too over engineered. I doubt the renders would be final products, and perhaps that questions their legimacy further.

It's a strong visual industrial design concept, but the flaw lies within the amount of parts. Xcrowd are not claiming to use the latest gen chips, they have an even smaller finite period of use.

When you design a product concept for retail, you make it aestheically pleasing.

When you finalise the chosen design you ensure it retains as much function as possible whilst reducing the number of parts.

Why?

Because more parts = greater expense which is needless, and more points of failure which is untenable in the long run. If parts fail, or break they will lead to loss of function of the miner = loss of profit for the miner = headache and more expense for both the miner and the company manufacturing/selling to the consumer.

When I studied engineering I hated taking my beautiful concepts and having to remove aesthetically pleasing design for boring practicality, but it's a necessity, especially if building in volume for a product where failure is critical. Also these need to be assembled, and fast, more parts = loss of time, more inspection, more hands to employ, and more expense w.r.t. assembly, bearing in mind these guys intend to undercut and compete on margins.

Which is why unflattering metal boxes with a few fans and a chip populated pcb board is the way to go...

"Bulk shipping start date - 20-12-2013
200 or 20% of total orders to be shipped per week
Individual deliveries sent out according to order list of confirmed order.
Inspection period after delivery - 5 days

Escrow release terms -
Individual customer confirms delivery of a working unit
Bulk refund if we fail to start bulk ship before 15-12-2013
Individual refunds if orders are not fulfilled within 6 weeks of bulk shipping start date."

So basicly the plan seems to be start ship 20th Dec and refund all escrows if shipping is not started by 15th Dec... 

That is also a possibility, but it's quite remote when you factor in what you know about the company(ies) and the principal. ATM, they sorely lack legitimacy. Let's hope they can dispel these doubts with concrete information.

Escrow is either part of the scam or a way to get funding from VC's or a loan from a bank, to hire the necessary personnel to actually start making a product.

I speculate that they are 2 issues that they are working on or ignoring, that is their Escrow and their Identity. Glad to have senior members highlighting the issues and by the way the Extra Charge of 10% for deposits plus paying your own escrow fees.  Noobs and Newbie sometimes just blindly accept them. Avalons and Butterfly has already lead the way in Delays and Scams what make us so sure others will not follow them.

The last email i received from them was 22 hours ago..  They did mention earlier on they were working on moving orders to another system and would be updating their FAQ in their forum based on responses.. 

@above
Well they have effectively stopped communicating with us and they have taken down the forum on their website. Valid questions have come up and we have seen no response even though they have been online and probably seen them.

Geez you guys are paranoid - I have absolutely no affiliation with xcrowd.. although I have ordered 1 of their miners.

sorry to disappoint.  Not sure what the time stamps are supposed to prove or where they came from?

Escrow is just a beard, without that magic word they'd have been denounced from day one. Still not sure what the angle is but I'm sure it's there somewhere. Either an escrow scam, or 'Orama thinks it might be a delay scam, an indirect scam, to tie up money in a fictitious product so as to reduce the overall difficulty of the network, thus making existing miners overall more profitable.

To do that you'd need to:

A. Maintain anonymity so they have no one to get mad at when it all falls apart.

- check

B. Make your offer as incredible as possible ($/GH), offering a beautiful case design to visually snooker people, offer as many guarantees against loss as possible (difficulty guarantee, shipping delay guarantee), capture as many price points as possible (from beginning miner to whale with a range of products). We see all of that here.

- check

C. String people along for as long as possible with fake / manufactured yet plausible information, updates, etc., while not spending very much of your own funds.

- check, and continuing to this day.

I don't know why anyone would go to this length. It seems far to go just to reduce investment into ASICs generally. I suppose they must figure that if they could tie up a few hundred thousand dollars as long as possible that the difficulty growth curve would be extended and they'd personally see profit if they had a very large mining farm. That's the only thing that makes sense from a financial point of view. Someone with a large interest in mining and a plan to make others tie up money for no reason.

Perhaps it's just someone doing it for jollies.

I even considered the possibility that it was someone doing it as a fake-out, only to come out later and say 'Wow you guys are idiots, I could've scammed you in ways X, Y, or Z and this whole thing was an experiment to show how gullible this community STILL is.'

As always however, time will tell.

The surprising outcome to me, at this point, will be if Xcrowd is actually legitimately attempting to build a miner. We shall see.

With Escrow they hide their identity, without Escrow this could be an out right scam.