Topic: Incoming Avalon News 8/9/2013 - page 37. (Read 186795 times)

900BTC ≃ 100K USD.

800K GB chips @ 0.0782 BTC/u. @ 115 USD/BTC = 6.9 million USD. => THIS is where the hurt is coming from.

Well if one can provide photographic evidence. Check.

Reports from legitimate purchasers with photographic evidence at the time pf receipt of goods, as well as courier documents/customs dockets. Check.

Evidence that units were preconfigured to specific pools where 900BTC (approx equal to US$1m, of a an approx $1B currency, further directly manipulating it's overall supply) has accumulated to specific wallets within specific dates. Check.

I'd find it hard for a judge not to consider such empirical evidence.

Especially when further corroborated with the evidence that the manufacture of chips equal to all the community bulk orders in total was in fact in Bitsycom's possession from late June. Posted by one of their own design team, and a total blanket on any communication from those entrusted with the funds and orders for weeks subsequent, followed by continued ignorance of their existence and inconsistent excuses.

Not to mention continual promises to refund which never transpire, and an aggressive increase in global hashrate throughout he same period which cannot be solely attributed to another US based manufacturer with an awful track record of delivering anything.

EDIT: As I have been quite rightly corrected 900btc is not equal to US1m, yet is substantial. As such the pre-mining may be less significant in the supply of BTC, but holding or reselling the quantity of chips on order is not. That said I want Yifu to retain 'Hero' status, but this is beyond giving the benefit of doubt now.

Look on the bright side, it's not as bad as the last one. The previous adjustment was +36%.

Ack!

That's gonna leave a mark.

no lawsuits in the works? i'm surprised

doesn't matter what happened - what Avalon did caused financial loss due to them not holding their end of the contract.
100% the judge will rule against them. depending on what actually happened they could be prosecuted for criminal fraud and go to jail.
i guarantee that it is much better for yifu to partially refund and come out CLEAN about what happened than have it all be discovered in the court of law.

That's not the story that would be presented to the judge, obviously.

In the context of pursuing a lawsuit, the important question is "will a judge believe this."

Any evidence (blockchain addresses) points to YiFu using the chips to mine for his/Avalon's personal gain.

*YiFu orders 30,000 chips*
"Hmmm, I sure could mine a lot of bitcoin with those chips. Yeah, let's do this. OK everyone; I want every 5th Avalon unit made for customers. The other 4 go to the mining farm."

*Answers phone*
"What? No, sorry, I haven't heard anything about the chips you ordered. There can be delays when you deal with a multi-billion dollar company that produces millions of chips everyday. Yes, I'll be sure to update you."

Oh yeah, email sent to Brent Davidson

Dude, they pre-mined the crap out of Batch #2. That's why there was no communication as they delayed as much as possible.

They mined until the units turned up covered internally with dust and preconfigured to pools. Way beyond that of 'testing'. It was so noticeable, that they had to halt sending the dust coated pre-configured pre-mined silver units and re-start Batch #2 shipping, sending out fresh black ones that were intended for Batch #3 orders.

Hence the obscene delay in Batch #3.

C'mon man, be fair, this behaviour is inexcusable.

I want to believe this wasn't the case, but look at the evidence. At this point ignoring the subject will not help.

Whether you expected a delay or not is irrelevant, Yifu contracted to have the chips delivered by a certain time - that is all that matters. He is obligated to that date regardless of what happened.

Or this?
< ozbot> 50810339.04828 | Next Diff in 200 blocks | Estimated Change: 28.9747% in 0d 23h 33m 12s

This.

Quote of the Day award goesssssss to Bicknellski







 

well but here is huge difference between chips and working units. for working unit, you need PCBs, PSU, case, controller, lot of various cables and somebody, who will take all this parts together.

for chips, you just need place an order to 3rd party vendor, agree lead time with him and once will be done simple resend the package to other address. Tell me stupid or naive, but I really don't expect 2 months delay for this simple task.

There seems to be a disconnect between a few days to a week and 60 days late with something as simple as chips vs a complete mining rig. Given that the excuses provided do not seem to add up, coupled with a NO REFUND policy that has little or no legal basis I think there are many legitimate claims to be made against Avalon and to sit back and wait for Yifu not to respond seems the least desirable action to take.

How about we put this in simple terms.

Avalon needs to either shit the chips out fast as they can because legal action is going to happen and given how late they are with the chips it would be smart for the community to take this chip shipping failure as a sign they are not even capable of a relatively simple chip fabrication, box and ship delivery and should be AVOIDED LIKE THE PLAGUE in future.

There is clearly a lot more riding on these chips than just a few hundred orders rather 1000s of people are dependant on these chips arriving Just in Time. At this point they have lost most if not all their credibility in this community given the stakes that are involved. 9 million in chips and countless millions in parts and labour that have been lost so far. They have pretty much crippled DIY projects entirely so sorry they do deserve to be called out. Racial remarks and threats of violence of course are not warranted at any time but a good old fashioned hey assholes get your shit together and ship the fucking product or else we are going to get lawyers working on this works for me. We will raise a holy stink and we will try wherever possible to disrupt your future business until you respond to our questions, support tickets as well as forum posts because the alternative is having 0 real information without any evidence to support the fact the chips actually exist that we have ordered.

At this point there is no need to play nice and be all warm and fuzzy with Yifu or Avalon it is time to drag him by the scruff of the neck figuratively and ask him point blank what are you going to do to FIX the mess you have caused?

I have a question. Before the Batch 2 or 3 (can't recall) we saw pics with new SMT line and they said that everything will run smoothly and batches will go out very very fast. What happened with the SMT line? Was it a pure BFL style lie or what?

This.

I for one fully expected some delay.  I am kind of surprised at the amount of venom oozing from this thread.  The delays are now getting kind of ridiculous and some good will compensation would be welcome from Yifu's side, but you all seem SO distraught by a delay that was pretty easily predicted.

So far I saw no evidence for such a claim.

is there any evidence that the chips were actually sold to a higher bidder? or are people just running rampant with speculation?

good to see some positive emotions in here