Incoming Avalon News 8/9/2013 - page 74.

MinermanNC

legendary

Activity: 2198

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If you haven't watched this video, then you should. Actually I found this very impressive. Yifu obviously knows his shit" this is one of the best question and answer sessions I have seen in recent memory. I wouldn't under estimate this guy in terms of his abilty. This was just a little over 9 weeks ago. So pull up a chair, grab a beer or coffee or both

and listen to how he addresses things. Pretty darn smart for a young guy. He has accomplished more than I first gave him credit for. Until now in my mind he was just the guy with the asic chips etc. Found this 25 minute video very interesting in many ways, in contrast to what has been being said in here. Guess if we dont like how he operates then we can always start our own asic machine building company

enjoy..meet mr. yifu lol

http://www.youtube.com/watch?v=LY1xgGiejIc

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: BenTuras on August 09, 2013, 01:35:02 AM

I am DISGUSTED by most replies here. Almost all comments here are about missing ROI and the like. Hardly anyone mentions the terrifying times that team Avalon and their family went through and probably still are.

It's just GREED all the way.

Imagine you are a bright young man, with some bright friends, able to make a unique product that brings in millions and then you, your team and family found yourself in the crosshair of . All of you would take CARE OF YOUR FAMILY and would have to put your CRM on halt.

Yes, I am a customer of Bitsyncom, machines and chips.
Yes, I am waiting for some chips, but I will never let greed take over.
Yes, I will buy again.

Call me stupid, call me an idiot, but at least I am still decent.

Just catching up and wanted to add a little input here.

Zhou Tong once expressed fear for his family even though to this day there's not one shred of information available on the internet linking to a single one of his family members.

Yifu should consider himself lucky that my nemesis du jour dons a red nose.

AdamKD

member

Activity: 98

Merit: 10

Quote from: kjj on August 09, 2013, 10:19:49 PM

You seem to be confused. Fraud is a criminal matter, not the product of regulation. For that matter, contracts are a civil matter, also not part of regulation.

Those that support deregulation are in favor of allowing honest ponzi schemes. Like if someone says "I'm going to pay you from the money I get from people that join after you, and the people that join too late are screwed." Most libertarians would be fine with that. However, if the same guy said "I'm going to invest your money in postage futures." but really paid early investors with money paid in by later investors, that is both fraud (dishonesty) and breach of contract (didn't do what he promised). Very few people in favor of deregulation are also in favor of legalizing fraud, and only the really extreme guys are in favor of gutting the civil court system.

Seriously? Shocked

Comments like that are the most naive and idiotic nonsense I've ever read.

bigbeninlondon

hero member

Activity: 742

Merit: 500

Quote from: kjj on August 09, 2013, 10:19:49 PM

Fraud is a criminal matter, not the product of regulation.

How does something become a crime? A regulation (read law) bans it.

Quote from: kjj on August 09, 2013, 10:19:49 PM

Most libertarians would be fine with that.

Thanks for speaking for everyone.

Quote from: kjj on August 09, 2013, 10:19:49 PM

fraud (dishonesty) and breach of contract (didn't do what he promised).

I don't recall "dishonesty" being banned. Seems like everywhere I look something is lying to me (Products with big-breasted ladies implying they'll want you if you buy the product is a pretty universal "fraud" perpetuated by legitimate companies).

Quote from: kjj on August 09, 2013, 10:19:49 PM

Very few people in favor of deregulation are also in favor of legalizing fraud, and only the really extreme guys are in favor of gutting the civil court system.

How can you "legalize" something in a market with no regulations or laws? Seems to me that I'm not the confused one.

kjj

legendary

Activity: 1302

Merit: 1026

Quote from: bigbeninlondon on August 09, 2013, 07:01:05 PM

This is what unregulated looks like. Sure there are fraudsters. Nothing stops that. Sure there are scams. Nothing stops that either. But at least here you have a CHOICE. You weren't required to trust Yifu. You decided to. I decided to. We all did. We made a mistake. We bet on someone who didn't already iron out all the kinks. Turns out some of those kinks were pretty solid.

Yes, Yifu made promises he couldn't keep. So did BFL. This isn't the first time and won't be the last. But Jesus you all wine so much about being "scammed" when part of the reason many of you are even HERE was because you believed in unregulated markets.

Caveat Emptor, right? Maybe this will teach us to properly vet the investments we choose to pursue.

You seem to be confused. Fraud is a criminal matter, not the product of regulation. For that matter, contracts are a civil matter, also not part of regulation.

Those that support deregulation are in favor of allowing honest ponzi schemes. Like if someone says "I'm going to pay you from the money I get from people that join after you, and the people that join too late are screwed." Most libertarians would be fine with that. However, if the same guy said "I'm going to invest your money in postage futures." but really paid early investors with money paid in by later investors, that is both fraud (dishonesty) and breach of contract (didn't do what he promised). Very few people in favor of deregulation are also in favor of legalizing fraud, and only the really extreme guys are in favor of gutting the civil court system.

cardcomm

sr. member

Activity: 294

Merit: 250

Quote from: -Redacted- on August 09, 2013, 10:11:12 AM

Obviously you don't read Steamboat's or Zefir's threads....

Steamboat posted on his thread since all this happened? That's news to me and I've been watching pretty carefully. Would you post a link please?

thanks

Tsukene

member

Activity: 117

Merit: 10

Quote from: jermwerty on August 09, 2013, 08:44:04 PM

Quote from: bigbeninlondon on August 09, 2013, 07:01:05 PM

This is what unregulated looks like. Sure there are fraudsters. Nothing stops that. Sure there are scams. Nothing stops that either. But at least here you have a CHOICE. You weren't required to trust Yifu. You decided to. I decided to. We all did. We made a mistake. We bet on someone who didn't already iron out all the kinks. Turns out some of those kinks were pretty solid.

Yes, Yifu made promises he couldn't keep. So did BFL. This isn't the first time and won't be the last. But Jesus you all wine so much about being "scammed" when part of the reason many of you are even HERE was because you believed in unregulated markets.

Caveat Emptor, right? Maybe this will teach us to properly vet the investments we choose to pursue.

+1

cardcomm

sr. member

Activity: 294

Merit: 250

To paraphrase the movie "The Girl Next Door":

Mother of Avalon Buyer: "What's wrong, my son?"
Avalon buyer: "That Yifu."
Avalon buyer: "He fucked me, Mom. He fucked me so bad!"
Mother of Avalon Buyer: "Son of a bitch!"

MinermanNC

legendary

Activity: 2198

Merit: 1000

Ill bet after all the hoopla is over in here and the dust settles, 99.9% of all of us chip investors" will still be here a week maybe 2-3 from now waiting for our chips...ya know why? cause we really ain't got much else to choose from to do, and short term thinking would be to take a "wait and see approuch" even tho it pains us deeply to wait another day, yet another month? (Deep down inside I really want the Klondikes) I like the concept. Just hope it all doesn't get squirrelled around on us any worse than it is. And quit worrying about the difficulty lvl so much. BTC value should counter that loss starting soon! and if it doesn't, than all of this wont matter much a year from now.

jermwerty

sr. member

Activity: 472

Merit: 250

Quote from: bigbeninlondon on August 09, 2013, 07:01:05 PM

This is what unregulated looks like. Sure there are fraudsters. Nothing stops that. Sure there are scams. Nothing stops that either. But at least here you have a CHOICE. You weren't required to trust Yifu. You decided to. I decided to. We all did. We made a mistake. We bet on someone who didn't already iron out all the kinks. Turns out some of those kinks were pretty solid.

Yes, Yifu made promises he couldn't keep. So did BFL. This isn't the first time and won't be the last. But Jesus you all wine so much about being "scammed" when part of the reason many of you are even HERE was because you believed in unregulated markets.

Caveat Emptor, right? Maybe this will teach us to properly vet the investments we choose to pursue.

+1

erk

hero member

Activity: 826

Merit: 500

Quote from: Vigil on August 09, 2013, 08:18:31 PM

There are pre-orders in video games.

That's kids, they are still learning common sense, not making investment decisions.

Bitcoinorama

hero member

Activity: 532

Merit: 500

Quote from: Vigil on August 09, 2013, 08:18:31 PM

Quote from: erk on August 09, 2013, 08:10:14 PM

Quote from: MinermanNC on August 09, 2013, 07:48:34 PM

Quote from: bigbeninlondon on August 09, 2013, 07:01:05 PM

This is what unregulated looks like. Sure there are fraudsters. Nothing stops that. Sure there are scams. Nothing stops that either. But at least here you have a CHOICE. You weren't required to trust Yifu. You decided to. I decided to. We all did. We made a mistake. We bet on someone who didn't already iron out all the kinks. Turns out some of those kinks were pretty solid.

Yes, Yifu made promises he couldn't keep. So did BFL. This isn't the first time and won't be the last. But Jesus you all wine so much about being "scammed" when part of the reason many of you are even HERE was because you believed in unregulated markets.

Caveat Emptor, right? Maybe this will teach us to properly vet the investments we choose to pursue.

ALL asic purchases are a gamble, especially on the said delivery window,,,,,they all suck,,,

It's because people's greed overrides common sense, in other industries you wouldn't do pre-payments for months or year in advance! The sellers have preying on the fear of increasing difficulty to drown out logical thinking.

There are pre-orders in video games.

Almost certainly the travel industry.

MinermanNC

legendary

Activity: 2198

Merit: 1000

Quote from: Vigil on August 09, 2013, 08:18:31 PM

Quote from: erk on August 09, 2013, 08:10:14 PM

Quote from: MinermanNC on August 09, 2013, 07:48:34 PM

Quote from: bigbeninlondon on August 09, 2013, 07:01:05 PM

This is what unregulated looks like. Sure there are fraudsters. Nothing stops that. Sure there are scams. Nothing stops that either. But at least here you have a CHOICE. You weren't required to trust Yifu. You decided to. I decided to. We all did. We made a mistake. We bet on someone who didn't already iron out all the kinks. Turns out some of those kinks were pretty solid.

Yes, Yifu made promises he couldn't keep. So did BFL. This isn't the first time and won't be the last. But Jesus you all wine so much about being "scammed" when part of the reason many of you are even HERE was because you believed in unregulated markets.

Caveat Emptor, right? Maybe this will teach us to properly vet the investments we choose to pursue.

ALL asic purchases are a gamble, especially on the said delivery window,,,,,they all suck,,,

It's because people's greed overrides common sense, in other industries you wouldn't do pre-payments for months or year in advance! The sellers have preying on the fear of increasing difficulty to drown out logical thinking.

There are pre-orders in video games.

Ya from reputable players like EA games, Microsoft, Blizzard, kinda comparing apples to oranges here

Vigil

sr. member

Activity: 378

Merit: 250

Quote from: erk on August 09, 2013, 08:10:14 PM

Quote from: MinermanNC on August 09, 2013, 07:48:34 PM

Quote from: bigbeninlondon on August 09, 2013, 07:01:05 PM

This is what unregulated looks like. Sure there are fraudsters. Nothing stops that. Sure there are scams. Nothing stops that either. But at least here you have a CHOICE. You weren't required to trust Yifu. You decided to. I decided to. We all did. We made a mistake. We bet on someone who didn't already iron out all the kinks. Turns out some of those kinks were pretty solid.

Yes, Yifu made promises he couldn't keep. So did BFL. This isn't the first time and won't be the last. But Jesus you all wine so much about being "scammed" when part of the reason many of you are even HERE was because you believed in unregulated markets.

Caveat Emptor, right? Maybe this will teach us to properly vet the investments we choose to pursue.

ALL asic purchases are a gamble, especially on the said delivery window,,,,,they all suck,,,

It's because people's greed overrides common sense, in other industries you wouldn't do pre-payments for months or year in advance! The sellers have preying on the fear of increasing difficulty to drown out logical thinking.

There are pre-orders in video games.

erk

hero member

Activity: 826

Merit: 500

Quote from: MinermanNC on August 09, 2013, 07:48:34 PM

Quote from: bigbeninlondon on August 09, 2013, 07:01:05 PM

This is what unregulated looks like. Sure there are fraudsters. Nothing stops that. Sure there are scams. Nothing stops that either. But at least here you have a CHOICE. You weren't required to trust Yifu. You decided to. I decided to. We all did. We made a mistake. We bet on someone who didn't already iron out all the kinks. Turns out some of those kinks were pretty solid.

Yes, Yifu made promises he couldn't keep. So did BFL. This isn't the first time and won't be the last. But Jesus you all wine so much about being "scammed" when part of the reason many of you are even HERE was because you believed in unregulated markets.

Caveat Emptor, right? Maybe this will teach us to properly vet the investments we choose to pursue.

ALL asic purchases are a gamble, especially on the said delivery window,,,,,they all suck,,,

It's because people's greed overrides common sense, in other industries you wouldn't do pre-payments for months or year in advance! The sellers have preying on the fear of increasing difficulty to drown out logical thinking.

Vigil

sr. member

Activity: 378

Merit: 250

Quote from: Ytterbium on August 09, 2013, 07:09:08 PM

Quote from: bigbeninlondon on August 09, 2013, 07:01:05 PM

This is what unregulated looks like. Sure there are fraudsters. Nothing stops that. Sure there are scams. Nothing stops that either. But at least here you have a CHOICE. You weren't required to trust Yifu. You decided to. I decided to. We all did. We made a mistake. We bet on someone who didn't already iron out all the kinks. Turns out some of those kinks were pretty solid.

Yes, Yifu made promises he couldn't keep. So did BFL. This isn't the first time and won't be the last. But Jesus you all wine so much about being "scammed" when part of the reason many of you are even HERE was because you believed in unregulated markets.

What sucks, though is that the people who did take the completely blind, initial risk did get their payoff, and Avalon built up trust before the chip orders.

I think that's what people don't understand about totally unregulated markets. Libertarians always talk about how if a company does bad, they'll ruin their brand. We're seeing that in action.

But the flip side is that when people build up brand equity, it means they can cash that equity out. Make promises using the brand in exchange for tons of money - and then fail. You no longer have the brand, but now you've got all the money.

That's one thing "Vulture Capitalists" do. It's also what AIG did - used it's 100 year insurance pedigree to sell credit default swaps it couldn't actually cover.

They can "cash out" justly so long as they don't violate a contract, whether written or verbal.

MinermanNC

legendary

Activity: 2198

Merit: 1000

Quote from: bigbeninlondon on August 09, 2013, 07:01:05 PM

This is what unregulated looks like. Sure there are fraudsters. Nothing stops that. Sure there are scams. Nothing stops that either. But at least here you have a CHOICE. You weren't required to trust Yifu. You decided to. I decided to. We all did. We made a mistake. We bet on someone who didn't already iron out all the kinks. Turns out some of those kinks were pretty solid.

Yes, Yifu made promises he couldn't keep. So did BFL. This isn't the first time and won't be the last. But Jesus you all wine so much about being "scammed" when part of the reason many of you are even HERE was because you believed in unregulated markets.

Caveat Emptor, right? Maybe this will teach us to properly vet the investments we choose to pursue.

ALL asic purchases are a gamble, especially on the said delivery window,,,,,they all suck,,,

Unacceptable

legendary

Activity: 2212

Merit: 1001

Quote from: Ytterbium on August 09, 2013, 07:18:40 PM

Quote from: Unacceptable on August 09, 2013, 07:16:24 PM

So Yifu was in Amsterdam??

I don't see a TSMC fab there................

http://www.tsmc.com/english/dedicatedFoundry/manufacturing/locations.htm

Hmmmmm Huh

He didn't say there was a fab there, that's just their european HQ (presumably for meeting with european clients)

Quote

   TSMC Europe B.V.
   TEL: 31-20-3059900
   World Trade Center(H7), Zuidplein 60, 1077 XV Amsterdam, The Netherlands

Ahhhh,Thanks!! Wink

Ytterbium

full member

Activity: 238

Merit: 100

Quote from: Unacceptable on August 09, 2013, 07:16:24 PM

So Yifu was in Amsterdam??

I don't see a TSMC fab there................

http://www.tsmc.com/english/dedicatedFoundry/manufacturing/locations.htm

Hmmmmm Huh

He didn't say there was a fab there, that's just their european HQ (presumably for meeting with european clients)

Quote

   TSMC Europe B.V.
   TEL: 31-20-3059900
   World Trade Center(H7), Zuidplein 60, 1077 XV Amsterdam, The Netherlands

Unacceptable

legendary

Activity: 2212

Merit: 1001

So Yifu was in Amsterdam??

I don't see a TSMC fab there................

http://www.tsmc.com/english/dedicatedFoundry/manufacturing/locations.htm

Hmmmmm Huh

Topic: Incoming Avalon News 8/9/2013 - page 74. (Read 186720 times)