Liquid Synergy Designs Inc. -ASIC mining hardware - page 59.

KS

sr. member

Activity: 448

Merit: 250

Quote from: rocks on October 11, 2013, 12:21:18 PM

Quote from: KS on October 09, 2013, 03:38:01 AM

I'm "officially" the cutoff customer, as per SB's email. The "official" refund request is "16/09" (between " " because I *think* I submitted it before, but hey, I might be wrong).

I got an email yesterday saying I would get a refund for 450 chips (I ordered 904) and saying assembly is starting - but I also have 54 miners, fully assembled + hosting, paid for and still no news regarding the amount of the refund for those.

If anyone is interested, PM me with a reasonable offer. I'm looking at min 1BTC per miner, chips for free.

That's rough, I also had a large order (485 chips 30 miners) and feel for you. On the bright side at least you got the 450 back so that's some recovery.

Given the amount of hash power coming online soon from KnC, CoinTerra, Bitfury, etc., etc., etc. I'm beginning to think that mining will become unprofitable in the next 6 months for ASIC chips of any efficiency. Not just ROI on the capital cost for a miner, but breakeven cost with electricity. If the hash rate goes up another 100x from here even 28nm ASICs start to operate at a loss.

At that point I'm not sure what will happen, even the large professional mining pools are in trouble. I think two things will happen: 1) ASIC vendors will will not be able to sell and stop producing chips, and 2) Many people will sell miners on the cheap.

I'm beginning to think that this is the time to get back in, buy unprofitable miners on the cheap and then either run at a slight loss or just wait for a BTC price spike and turn on then.

Unfortunately, I don't have anything back. I don't know what's the hold out either, as "refunds have been processed".

What happened to your order, did you get a refund?

hoss

newbie

Activity: 52

Merit: 0

Troll and ignored - that's just ridicules at this point

Rakessh

full member

Activity: 205

Merit: 100

Quote from: ionstorm on October 11, 2013, 08:19:37 PM

Quote from: TheXev on October 11, 2013, 07:39:02 PM

I am still waiting for my batch 7 refund.

Sorry to say but, refunds are done and you won't get one.

Batch 7 was the batch that got cancelled before it was ever completed. That batch should be refunded in full long before there was talk about cancelling any of the other batches.

However, I believe the guy is merely trolling. So unless he coughs up some 'evidence' of even posting an order, his post is a pile of stinkin poo Wink

ionstorm

sr. member

Activity: 266

Merit: 250

Quote from: TheXev on October 11, 2013, 07:39:02 PM

I am still waiting for my batch 7 refund.

Sorry to say but, refunds are done and you won't get one.

TheXev

member

Activity: 79

Merit: 10

I am still waiting for my batch 7 refund.

hoss

newbie

Activity: 52

Merit: 0

Quote from: Duetschpire on October 11, 2013, 05:13:18 PM

Quote from: bigbeninlondon on October 11, 2013, 03:18:17 PM

Quote from: User705 on October 11, 2013, 03:13:56 PM

"Mine at a loss". Now that's a winning business plan.

It's a "lose-less" business plan, as opposed to the "lose-more" business plan of just selling them. This assumes of course you could offload these bad boys on the next spike of bitcoin interest.

True, If I'm to sell 5 miners now I'd be lucky to get 5 BTC for them. I wouldn't wanna pay more than 3 BTC for the lot if I was buying.

"Mining at a loss" doesn't mean you're running your rigs, using power and getting no returns. Even if so, and this is the worst case scenario.. a $1/day on electricity isn't gonna risk your ars going bankrupt. But if you lose $356/year, and still make yourself 0.01 BTC/day that's 3.56 BTC, which in a year (I Hope) would be worth $500... Better than selling them now for a total of $400 isn't it??

Well you had me at .01BTC/day - but that's where your wrong.
per - https://docs.google.com/spreadsheet/ccc?key=0Ah7ZJVoobFY7dDRGQk1kdmJmaUJwZENKZUdNejJlWEE&usp=sharing#gid=0
(the red section below the green) clearly shows that if you have miners by next difficulty you will be @ .0096 per day.
How fast until say .005? well this sheet, which has so far under predicted difficulty (eg real difficulty is worse than sheet originally predicted), shows that should happen in ~5 difficulty jumps (~55days) so like December some time. Also the sheet shows a running total at the bottom of the red section - you would be hard pressed to ever get 1BTC out of one rig before end of life.

3 ... 2 ... 1 rebut

Duetschpire

sr. member

Activity: 368

Merit: 250

bitify.com - Bitcoin Marketplace & Auction site

Quote from: bigbeninlondon on October 11, 2013, 03:18:17 PM

Quote from: User705 on October 11, 2013, 03:13:56 PM

"Mine at a loss". Now that's a winning business plan.

It's a "lose-less" business plan, as opposed to the "lose-more" business plan of just selling them. This assumes of course you could offload these bad boys on the next spike of bitcoin interest.

True, If I'm to sell 5 miners now I'd be lucky to get 5 BTC for them. I wouldn't wanna pay more than 3 BTC for the lot if I was buying.

"Mining at a loss" doesn't mean you're running your rigs, using power and getting no returns. Even if so, and this is the worst case scenario.. a $1/day on electricity isn't gonna risk your ars going bankrupt. But if you lose $356/year, and still make yourself 0.01 BTC/day that's 3.56 BTC, which in a year (I Hope) would be worth $500... Better than selling them now for a total of $400 isn't it??

eroxors

legendary

Activity: 924

Merit: 1000

Think. Positive. Thoughts.

FYI, got this today. I'm in batch 1, paid for express shipping. Maybe I'll have them early next week?

Quote

L---,

Assembly is underway on your three tested rigs. (web invoice 127 order 139)

At your service,

Z---

On Mon, Oct 7, 2013 at 5:09 PM, <[email protected]> wrote:
S-----,
I see no refund coins or shipping info. Updates?

Thanks,
E---

bigbeninlondon

hero member

Activity: 742

Merit: 500

Quote from: User705 on October 11, 2013, 03:13:56 PM

"Mine at a loss". Now that's a winning business plan.

It's a "lose-less" business plan, as opposed to the "lose-more" business plan of just selling them. This assumes of course you could offload these bad boys on the next spike of bitcoin interest.

User705

legendary

Activity: 896

Merit: 1006

First 100% Liquid Stablecoin Backed by Gold

"Mine at a loss". Now that's a winning business plan.

Duetschpire

sr. member

Activity: 368

Merit: 250

bitify.com - Bitcoin Marketplace & Auction site

Quote from: rocks on October 11, 2013, 12:21:18 PM

Quote from: KS on October 09, 2013, 03:38:01 AM

I'm "officially" the cutoff customer, as per SB's email. The "official" refund request is "16/09" (between " " because I *think* I submitted it before, but hey, I might be wrong).

I got an email yesterday saying I would get a refund for 450 chips (I ordered 904) and saying assembly is starting - but I also have 54 miners, fully assembled + hosting, paid for and still no news regarding the amount of the refund for those.

If anyone is interested, PM me with a reasonable offer. I'm looking at min 1BTC per miner, chips for free.

That's rough, I also had a large order (485 chips 30 miners) and feel for you. On the bright side at least you got the 450 back so that's some recovery.

Given the amount of hash power coming online soon from KnC, CoinTerra, Bitfury, etc., etc., etc. I'm beginning to think that mining will become unprofitable in the next 6 months for ASIC chips of any efficiency. Not just ROI on the capital cost for a miner, but breakeven cost with electricity. If the hash rate goes up another 100x from here even 28nm ASICs start to operate at a loss.

At that point I'm not sure what will happen, even the large professional mining pools are in trouble. I think two things will happen: 1) ASIC vendors will will not be able to sell and stop producing chips, and 2) Many people will sell miners on the cheap.

I'm beginning to think that this is the time to get back in, buy unprofitable miners on the cheap and then either run at a slight loss or just wait for a BTC price spike and turn on then.

Mine at a loss, wait for BTC to spike (double), dump the hell out of them and buy some miners from a trusted source

rocks

legendary

Activity: 1153

Merit: 1000

Quote from: KS on October 09, 2013, 03:38:01 AM

I'm "officially" the cutoff customer, as per SB's email. The "official" refund request is "16/09" (between " " because I *think* I submitted it before, but hey, I might be wrong).

I got an email yesterday saying I would get a refund for 450 chips (I ordered 904) and saying assembly is starting - but I also have 54 miners, fully assembled + hosting, paid for and still no news regarding the amount of the refund for those.

If anyone is interested, PM me with a reasonable offer. I'm looking at min 1BTC per miner, chips for free.

That's rough, I also had a large order (485 chips 30 miners) and feel for you. On the bright side at least you got the 450 back so that's some recovery.

Given the amount of hash power coming online soon from KnC, CoinTerra, Bitfury, etc., etc., etc. I'm beginning to think that mining will become unprofitable in the next 6 months for ASIC chips of any efficiency. Not just ROI on the capital cost for a miner, but breakeven cost with electricity. If the hash rate goes up another 100x from here even 28nm ASICs start to operate at a loss.

At that point I'm not sure what will happen, even the large professional mining pools are in trouble. I think two things will happen: 1) ASIC vendors will will not be able to sell and stop producing chips, and 2) Many people will sell miners on the cheap.

I'm beginning to think that this is the time to get back in, buy unprofitable miners on the cheap and then either run at a slight loss or just wait for a BTC price spike and turn on then.

eroxors

legendary

Activity: 924

Merit: 1000

Think. Positive. Thoughts.

Quote from: logicbomb666 on October 11, 2013, 10:09:53 AM

Quote from: rammy2k2 on October 11, 2013, 07:12:08 AM

SB ... i gave u all my respect and all that in the past ... until now ... really .. we all trusted u and sent you OWN money ... is that hard for u to write a small update for us ? I dont buy that i'm busy" crap ... u can write us an update while u're on toilet .. driving .. or eating ... takes u 2 damn minutes ...
i requested refund .. no refund ... we ask u here updated ... u dont care ... Angry

By now you should realize these "2 minute" updates are never going to happen. They are not going to happen because a 2 minute update will potentially cause all kinds of hell for steamboat in the future. If he misspeaks even the smallest of details inappropriately, he will be giving everyone fuel for all types of negative action and batshit craziness.

Every single update from anyone who takes this bitcoin business serious will be nitpicked like crazy, will take well over 30 minutes to create even the smallest update, and will be looked over with a fine tooth comb. Same thing happens with all types of business. Knowledge is power, and stating incorrect facts in error cause huge problems.

By now everyone should have figured this out on their own.

Yup. I think the next update will be tracking numbers.

logicbomb666

sr. member

Activity: 260

Merit: 250

Quote from: rammy2k2 on October 11, 2013, 07:12:08 AM

SB ... i gave u all my respect and all that in the past ... until now ... really .. we all trusted u and sent you OWN money ... is that hard for u to write a small update for us ? I dont buy that i'm busy" crap ... u can write us an update while u're on toilet .. driving .. or eating ... takes u 2 damn minutes ...
i requested refund .. no refund ... we ask u here updated ... u dont care ... Angry

By now you should realize these "2 minute" updates are never going to happen. They are not going to happen because a 2 minute update will potentially cause all kinds of hell for steamboat in the future. If he misspeaks even the smallest of details inappropriately, he will be giving everyone fuel for all types of negative action and batshit craziness.

Every single update from anyone who takes this bitcoin business serious will be nitpicked like crazy, will take well over 30 minutes to create even the smallest update, and will be looked over with a fine tooth comb. Same thing happens with all types of business. Knowledge is power, and stating incorrect facts in error cause huge problems.

By now everyone should have figured this out on their own.

ionstorm

sr. member

Activity: 266

Merit: 250

I do however wish he would refund a few of us, or ship us something extra for the delays.

ionstorm

sr. member

Activity: 266

Merit: 250

He is responding to emails and is building our miners and troubleshooting the bootloader and firmware with kano. Should ship imminently, I assure you he is busy working on our stuff and will respond soon.

rammy2k2

legendary

Activity: 1974

Merit: 1003

SB ... i gave u all my respect and all that in the past ... until now ... really .. we all trusted u and sent you OWN money ... is that hard for u to write a small update for us ? I dont buy that i'm busy" crap ... u can write us an update while u're on toilet .. driving .. or eating ... takes u 2 damn minutes ...
i requested refund .. no refund ... we ask u here updated ... u dont care ... Angry

KS

sr. member

Activity: 448

Merit: 250

Quote from: eroxors on October 09, 2013, 08:28:04 AM

Quote from: rocks on October 08, 2013, 11:59:27 PM

Quote from: Duetschpire on October 08, 2013, 11:50:52 PM

Quote from: slightboyme on October 08, 2013, 11:26:26 PM

Still no refund. Submitted 9/16. Anyone has the same situation?

I've submitted a refund on the 18th, but couldn't sign as my PC which had my walled was down. Got an email from SB asking me to sign it. Found a wallet.dat backup after few days of searching (wallet had 0 coins that's why I didn't care about it). Sent a refund request again on the 23rd and replied to SB's email confirming that I've submitted a signed refund. Never heard back...

No Coins, no reply email, no chips and no shipping email.

I have a mate who submitted a correct refund on the 17th of September and he's on the same boat as me. I think this refund is more like a lotto ticket, those who were lucky enough got a refund, but people like us will be receiving a pretty expensive paper weight.

Looking at SB's post below, we were all under the impression that THERE IS NO DEADLINE FOR REQUESTING A REFUND, so not sure how in hell SB decided that post 16th of Sep orders are not eligible.

Quote from: steamboat on September 03, 2013, 07:34:41 PM

Update:

We have confirmed with Yifu directly the eligibility of all batches ordered for a refund, to be processed when requested. Additionally, there is no deadline for requesting a refund. As such, we have begun processing all requests for refunds of orders placed with us, which will be submitted to Yifu upon each batch being requested in full.

The deadline was before YiFu finally shipped chips. Once Yifu received a batch and shipped that batch, that batch was no longer eligible for refunds. Given how late thing were Yifu should have just canceled and refunded all batch orders. But he is the type of guy that would rather ship very late and unprofitable product than make things right with people.

The thing is... we had no idea when or if the chips would ship and how many chip buyers had requested refunds. Unless we hear otherwise from SB, KS is the cutoff and he refunded on the 16th. SB said all refunds would be processed last week, so if you don't have coins in your wallet, you'll probably be getting miners.

SB, whenever you update, it would be nice to know when the chips actually arrived and if Yifu was honest about when he shipped them.

No coin, no miner here.

nightengale

hero member

Activity: 574

Merit: 500

Would love an update from SB with details on assembly, testing, hosting refunds. Hundreds of dollars tied up there that we're being stonewalled on.

ionstorm

sr. member

Activity: 266

Merit: 250

Would love to see some asics shipping porn soon :-)

Topic: Liquid Synergy Designs Inc. -ASIC mining hardware - page 59. (Read 423279 times)