Topic: [CLOSED] Avalon ASIC chip distribution - page 14. (Read 220189 times)

OK. I see your point.  Nevertheless, I am a little surprised that you went with  option A for as long as you  did,
considering how much of your money was on the line.  My loss is far smaller, but that does not matter.  What
matters is the principle, and there is really no earthly reason whatsoever that anybody should not insist on
option B, otgherwise option D.   Appeasement does not work with  savages, see Chamberlain vs. Hitler.

Option D may mean more money upfront, but  it also means that Bitsyncom's assets (speak mining interests, distributorships
that they have set up in Asia, next gen chips, etc) can be attached after a successful lawsuit, and yes, this may take years.
But to allow YIFU to get away with ripping everybody off and walk away scot-free just does not sit well with me.
This would  make me a total sucker that does not even fight  back - wrong person.

And yes, I do feel for Burnin and everybody else that got caught up in this ASIC mess.  Another  reason to fight the dirty
rat from Brooklyn.

Before this starts to get personal, I'll tell you how I am f*cked.

From those 8 batches ordered, almost half the chips are mine, i.e. ordered by and paid by me for my mining operation. I am not only the organizer of this group-buy, but also its largest participant. You do not really expect that the profit I made by selling 7k chips to Bitmine covers the loss of the remaining 30k, do you? Needless to say that with that your estimate on how much I earned organizing this is way off.

As for the manufacturers and designers, how can't you see how they are f*cked? Burnin found a company to work on this for months, invested tons of own money for development and paid for PCBs and components upfront to minimize lead times. Everyone bailing out will leave him (and other manufacturers) sitting at a ton of waste and a huge loss.

+1111 

Update: Endgame

With ASICMINER today announcing blades for as low as 3.5BTC, it appeared that Avalon chips that do not mine today are not going to break even any more. While those blades went already out of stock after some hours, the new price for mining rig is officially set. Essentially this means that if Avalon does not ship the remaining chips fully within the next two weeks, they become worth less than their shipping costs.

Driven by this event, today I was flooded with refund requests that built up a queue of ~2000 chips. I do not expect any takers for this and it is realistic to assume that there will be no further refunds.


I am sad to admit that I do not believe in a fast and complete delivery of the remaining batches. This stopped to be a game the moment this group-buy alone funneled $500k to Avalon. Although we have only a small set of 'no BS rules', we still have a written commitment to deliver in time as part of the ToS. With so many community members taking a loss directly or indirectly through Avalon failing to meet their schedule, we (together with other customers) need to consider taking serious actions to end this tragedy.

At this stage our options are as follows:

• A. sit and wait
  That was my tactics so far, assuming that civilized and respectful behavior will ensure to get our chips as fast as possible. This in fact might have been the reason why so far our group-buy got more chips than others, at the same time with a delivery of one batch per month our last will arrive mid 2014 - ready for re-direction to the Bitcoin museum
• B. demand full refund
  The majority would be fine with getting their invested coins back and let this chapter pass into oblivion. According to Avolon's ToS, there will be no refunds. But if they really care about Bitcoin and its community and realize how much harm they caused to so many of us, they might consider playing fair and send us the coins back. This implies that you do not want your chips any more.
• C. negotiate for compensation
  While refunding all orders might exceed Avalon's capabilities, they might prefer offering a compensation in form of free chips or free upgrades to next-gen ones. This implies you would like continue dealing with Avalon.
• D. legal action
  Leave the polite arena and sue them into ground; make an example of them and put an end to the pre-order madness in Bitcoinland. This implies you are willing to throw more good money after the bad - for a very limited expectation. Your money would feed some poor lawyers and Avalon if needed will declare bankruptcy (they said they do not control the collected funds any more).

I personally will approach Avalon with options B and C for now and consider combining forces with other group-buy organizers for D if we do not hear back within a reasonable time-frame. If you have a different opinion you'd like to share, please do so either here or via PM.

Before this starts to get personal, I'll tell you how I am f*cked.

From those 8 batches ordered, almost half the chips are mine, i.e. ordered by and paid by me for my mining operation. I am not only the organizer of this group-buy, but also its largest participant. You do not really expect that the profit I made by selling 7k chips to Bitmine covers the loss of the remaining 30k, do you? Needless to say that with that your estimate on how much I earned organizing this is way off.

As for the manufacturers and designers, how can't you see how they are f*cked? Burnin found a company to work on this for months, invested tons of own money for development and paid for PCBs and components upfront to minimize lead times. Everyone bailing out will leave him (and other manufacturers) sitting at a ton of waste and a huge loss.

Answer me this - how is Burnin fucked?  He received lots of funds for orders he may never fill.
How is Zefir fucked?  He already earned 9.9 % of the cost of every chip for organizing the group buys (+-500 BTC).
A couple of days ago he sold 7000 Avalon chips at a profit to Bitmine. 

The only people fucked are us idiots who participated in the group buys and trusted Avalon  We are now left with garbage
if anything at all.  I really hope that the Asian ASIC cartel will kill Bitcoin.

So, if your interested, i have a poll in my footer.. But, mining is dead from now on..  Refund must be the only option.

10k out just now !!!

https://blockchain.info/tx/54fe785198be7e3bb5515dc5c004271b372512d050fcfd8f8dffed887fac065b

The wallet address used to receive payment for these orders is still active as it seems 10,000BTC was moved recently.
https://blockchain.info/address/1FGAftzSTztFSB8LMwsrdCKTyqGY6zr3sU

I vote for option  b, c. If this fails, goto E  
 
 

batch 3? the amount was never 1+ million chips. if one 1+ million chips did show up in june, none of this would be happening and difficulty would NOT be this low, do some math.

also people seem to not make the connect to sudden raise of difficulty to us shipping batch 3 and bitfury's http://ghash.io pool coming online...

brb making refund form, I'm done with this.