Topic: BitSyncom. Can you provide an update on batch #2? (Read 4960 times)

considering the rate litecoin mining is growing bitcoin must be losing a lot of gpu miners. same with feathercoin.
batch #1 being mostly delivered cannot be used as an excuse for much more growth.
friedcat's project might count for some but you would think the friday updates would explain new growth if from that.

soooo that leaves bfl and avalon. and based on what bfl is actually delivering? i think they have their hands full.
avalon is a good guess for the last couple of weeks growth?

Who thinks they are just mining with our machines and just don't care to make up stuff to tell us? We probably won't get our avalons untill mid june :/

pass the popcorn

Well, one of the side effects of BTC, people scrutinizing what you do with your funds

They have said many times they are hardcore BTC supporters, they said literally that they would fall and raise with BTC. Nothing strange, nothing to discuss and nothing to worry about them holding coins.

I personally am not concerned about the effect selling those 46k BTC will have on the exchange rate since that really has zero effect on their ability to perform. I would be more concerned with the chance that the market will crash BEFORE they sell these coins leaving them unable to fulfill their outstanding orders but perhaps they've used funds from batch 1-3 already.

I'm sooo curious why they haven't touched these coins yet since I assume they would be needed to pay for the fabrication/packaging of the chips. Since the first bulk chip order was placed 2 weeks ago, that leaves only 7-8 weeks in their advertised 9-10 week lead time. The lack of information surrounding delivery schedule is what gave me cold feet on a bulk chip order so I'm very curious to see if they will experience the same delays that batches 1 & 2 have seen so far. I can see two scenarios where they might still be on track:

1) Maybe TSMC can fabricate ALL 500k+ chips that have been ordered in less than 5-6 weeks so they are just waiting to place a single large order with the foundry instead of a bunch of small ones and plan to have plenty of time to package and ship.
2) Bulk chips have already been ordered from TSMC using funds from batches 1-3.

I would be very excited to see them break the pattern of ASIC delays by consistently shipping chips in 9-10 weeks from date they were ordered but right now my guts saying probably not. I think it's clear that ASICMINER has had the best performance when it comes to manufacturing ASIC miners but have only recently started selling their hardware directly. Bitsyncom is a close second and WAY ahead of the rest so I have high hopes for them...

/stilleatingpopcorn

Seriously guys, this is nothing to be worried about.

He's saying they have to sell BTC to pay TSMC (the foundry) for the chips. Its not if they would its when they would. Unless they have a huge stash of RMB to pay them, or TSMC starts taking BTC.

I don't think they would dump 50k on the market, you want to avoid slippage, the scarce depth of the market is obvious, and unless you panic or wish to induce a dip (to buy back later) there is no sense in dumping

Looking at the Batch 1 thread, it appears at least one person received their overdue unit which was shipped on April 7th.  If I read that correct, it sounds as though they are shipping some units then. 

Sorry, you are correct. On both reasons. The last panic selling didn't had any follow, tough...

A 50k BTC dump would break past the $120 wall actually, would bring us down to $105-110-ish. Probably also induce a panic sell from spectators that have no clue what's going on.

A 50k btc dump would merely bring us to 120... Nothing too scaring.
What's scaring is the lack of updates. They updated us during the "black period" of batch 1...

Just wondering, has anyone tried calling them? The phone number is in the email they sent few weeks back. Surely we have quite a few Chinese friends here reading the forums and waiting for their ASICs. Perhaps someone could try calling them and ask for a status update?

Yeah, it's a bit unnerving, but what I (and I suspect others) have done is kept reasonable amounts in both cash and coin, in the event they sell and crash the price, I have fiat available so that I can purchase the coin and cover the cost of a trade-in. In the event they continue to sit on that cache, I will also have enough coin.

I would recommend that anyone that is just sitting on coin-only while waiting for trade-in notifications from BitSyncom also consider selling some coin in order to have cash on hand in case they do decide to unload all 46k BTC on the market all at once.

I am surprised we still have not heard of a single tracking number in the wild when it's been 2 weeks since they claim shipping started. I have a feeling that they just made that shipping announcement to keep the pitchforks at bay since they are now almost 2 months behind on batch 2.

I'm also curious why none of the coins they've received for bulk chip orders have been touched yet. I guess it's possible that they used the funds from batch 2/3 pre-orders to place the chip orders with the foundry but as of now, almost 6 million USD in BTC is just sitting there untouched since they took the first chip order 2 weeks ago. Hopefully they've already paid for the chip orders so there's no risk of a market crash screwing everything up. I will be VERY surprised if they manage to keep true their their advertised 9-10 week lead time. No sign of the "ASIC fog" lifting any time soon

/grabspopcorn

WHY no quick reply from team Avalon...?   everyone is curious?

I don't think Avalon getting us a general timeframe is too much to ask..

Yes, right, corrected.



Not sure if you are agreeing with me...but yea, your right!

i think you mean batch 1

These guys are just angry that they didn't join the "Avalon Prime" membership when they had the chance.  Free 2 day shipping for only $75 a year.   Seriously, all the whiners out there.  Avalon is not Amazon.  It is not Best Buy.  You took a risk, and you'll get your ASIC when it arrives.  STFU already.