Topic: New Official AMT Thread - page 113. (Read 149472 times)

the last paragraph is awesome.  why any of you would EVER consider sending them MORE money, on top of what you've already lost is beyond me.  you like getting screwed so much, that you're going back for 2nds or 3rds?  

you've got to be out of your cotton pickin mind to continue a business relationship with these guys.  

AMT, sorry about the health and other issues, but you are obligated to give the people what they've paid for, or give them their money back.  Kudos to a creative solution to try to suck more money out of them.  shit happens, take your lumps and pay up.

My question exactly.  with the changing MPP story, I'm getting close to the newly stated "mine with your machine for 6 months, and if it hasn't ROI'd we'll upgrade" point.  which is complete and utter BS, but still, which one is it?  the falsely advertised one, or the new one that was made up to buy another 6 months?

The MAIN reason i made my purchase, was because of the MPP.  putting such an offer as a selling point, and then not following through on it is a perfect example of false advertising.

i started this post with the intention of being nice, since  the "nice" people  people get preferential treatment over those that make noise about wanting to get what they've paid for.  which also is complete BS.  

I really feel for you guys that are on the hook for many thousands of dollars.

the MPP was the only thing that made the extra cost of these miners "seem" like they would be worth it, and they are showing no signs of making good on that promise.  what does that say?

The new plan they've laid out is less than palatable.  I'd shit myself if that's what i was being told were the options for my $6000 spent.
If thy still have your money, they are using it to further their business, instead of making good to the orders already placed.  Why not ship what's been paid for, zero out the obligations and start over with what's left, if any.  if nothing left, then walk away and lick your wounds.

do the right thing AMT.  for once.  so far, not so good.

There's no way to predict what the end game is going to be here.

Yeah,  I guess it sucks to have $12,000 worth of equipment that does absolutely nothing.

Well,  I feel half or your pain.  I have $6,000 worth of equipment sitting doing nothing in my basement.

Anyone want to buy this junk from me?

And that's what my questions are for....a call to get them to answer exactly that. How long? Commitment to a timeline. And also what are they doing. Some transparency in the process will give us an idea realistically what they will be able to do and how long it will take. If they are going the technobit route why would you want chips? I saw your comments in there. They would be doing the same thing you would wind up having to pay for. OTOH if they are offering pre-assembled hardware like an S2 that would be a viable option that allows them to win moneywise and us with THs and getting what we paid for. Win-win. Far better than chips. I cant hash with chips nor am I interested in spending more money on mounting them on something. We should not have to have spent more money on any of this. But getting something back for the money we were forced to spend to make their hardware work (even out of spec) is something worthwhile. The 2x S2 to replace the 1.2Ths miner option gets us something (this presumes they actually consider this option).

The people wanting miners now with the current hardware design are in for a game of Russian roulette as the miner could just as easily go bad or be bad leaving the assembly plant. I already had that experience. So has pretty much everyone else here. At this point getting hardware that works in my hands is all I care about. 1.2Ths of working hardware at this point would be nice. Since I ordered 2 miners I would obviously expect 2.4Ths of working hardware. But like I said if they go the route of getting us equivalent hardware and are able to save a few bucks going that route AND gets it to us fast...that would settle things really quick for them on alot of levels and we all get to move on. Lawsuit goes out the door (and sends a big fuck you to clenell with all your spamming insults in my inbox over my comments).

The MPP can be fulfilled if not fully but at a lower cost. 2Ths over 500 bucks less than what we paid.....4Ths for those who bought 2 miners. Unless they have a considerably better arrangement its going to be hard to beat that. Bitmaintech also likley will provide bulk discounts so drives the price even lower. If they have the money to get teh chips reassembled they have the money to get new miners and settle this with everyone here right quick.

Hopefully we see a response from them soon on this.

Milk them for more?  I asked for 40+10 chips,  however, I did not accept that I ship back their miner first.   The logical thing to do since they have a habit of not accepting returns.

Ideally, we all want more THs for the money.  That would be inline with what was promised by the MPP.

However,  I have no idea of how many more months we all have to wait to receive hardware.         

AMT_miners, enough with the games and the hypotheticals and telling us to KEEP CALM! If your are going to do some thing TELL US WHAT IT IS AND JUST DO IT ALREADY!

Snippet from SirMines everyones elses business, "THEY ARENT EVEN REGISTERED AS A U.S BUSINESS! They've been using Advanced Mining Technology's name, which is an actual mining company (other business) founded in the 80's. "

They are registered in Delaware: File Number:    5341525    Incorporation Date / Formation Date:    05/29/2013

There are several companies using the name Advanced Mining Technologies shown on a quick search, one in Australia, one in India and one in Canada as well as the one in PA. So what? As long as the 1st entity to claim the name doesn't bitch is all perfectly legal.

An assumption considering they collected quite a bit from all the orders. Sure some got spent on operating costs, but they should have money on hand. But the chips will involve more expense for us to get those assembled into a miner. We already paid out for the hardware. We have defective hardware for those that received it, at this point the burden is on them to give us working miners from someone not chips. That is a retarded compromise that absolves them of any responsibility and its costly for us on top of that. They win we lose huge. We would be paying 50 percent of the original miner cost just to get those turned into boards.....That is a huge loss. Did you take math at the midvale school for the gifted?

Notice how quick they were to grant your request to get you those chips. They know that is an advantage for them and a loss for you. You aren't just taking a "haircut" you are getting cut off at the knees. You essentially are paying close to 9k for 1.2ths if you count what you paid PLUS what you tack on for assembling the chips into a miner.

Personally getting the existing hardware replaced for working reliable and tested hardware (a community vetted vendor like technobit) OR if they bought up and provided us with replacements like S2s would be an acceptable settlement for everything. Depending on what option they are taking at this point. Honestly if they want to get us hardware quick and get this over with the S2 option would be the fastest. If they are assembling based on parts, then the technobit option (since they seem to be the only ones I know of doing this for the community) will take some more time that really is hurting us and them at the same time.

Point is all we want is the THs we paid for or better. We cant settle for broken hardware or compromises any more. It is not acceptable to anyone really. Would you pay for a hot dog and then haggle with the guy when he gives you half a hot dog or just the bun or just the hot dog with no bun? this is no different just on a different scale. We paid X for Y and should receive Y not Z or W. Plain and simple. I am not interested in the logistical hassle of getting chips assembled most people on here I dont think are either (chime in if you feel different). Those chips wont hash in my hands. I am not interested in investing another dime into getting this working. No one should. We paid for a WORKING 1.2Ths per miner period. That is what we should be getting. If AMT is facilitating that now somehow or are soliciting suggestions on how to get that, then I think that is a more than fair situation. But they need to tell us more about the situation before we honestly can sign off. They did solicit our opinions on it.

But getting chips might be good for you....you can blow the extra money on it. Not for me. I already spent more time and money on this than I wanted to. I think ALL of us feel the same way. We just want working hardware. I am willing to offer up solutions to AMT to make that happen (one of which is the S2 option) but its on them to do the proper execution on it.

What's in it for them???   They avoid be indicted for 'wire fraud'.  They avoid having to be obligated to the MPP.  

What's in it for them to copy a board from an existing manufacturer?  Given that this kind of hardware depreciates by 30% every month?  Anyone with half a brain would call it quits and refund everyone.

Well Frictionless coin, ask yourself what's in it for them if they give us back our cash? Nothing... If they use the cash to invest in a new board, they have a potential gain for themselves.

Well I don't know where the cash went.

But they seem to have enough cash to commission a new Technobit board to be created.

Though they seem to have no cash to pay anyone to provide support.

I am making the assumption that the've already burned through 1/2 of the funds that were used to purchase the parts for the machines.  I could be wrong, after all, not everyone has yet to receive a machine (even if it was broken).  

My reasoning why the may not have the cash.   They did not convert the BTC they received into cash!

So let's say they raised $1 million in BTC,  let's say they spent 1/4 of that on parts,  that means they have have 750K left.... now that gets halved because of how BTC is trading... that's down to $375K.   Now they got $1 million of orders left that need to fulfill,  but they can buy like 1THs at 1/2 the price.  So to do that, they'll need $500K... but they only have $375K. So they can't do it!

It's ironic they are only 15-20 minutes away from that FedEx, but remember they said I only live 30 minutes from the office when I really live 2 hours away! Why is their measurement of time so long for themselves, but when it comes to my route they shorten the time four times over?

Riddle me this.  Why would he not have the returns shipped to the assembly plant? Why would he have returns shipped to the other side of town?

How do they not have cash? They collected over a million and a half dollars from customers.

Dude,  you don't have a clue if you think Cointerra and AMT are in a similar situation.   I used to be a Cointerra customer,   when I asked for a refund, it took one week for them to send me back a check.     

Buying Antminer rigs to compensate customers implies that they have the cash to buy them.

I don't think they have the cash,  all they have are a bunch of coincraft A1 chips and technobit boards.

I suggest you all take them up on the offer to get the coincraft A1 chips because it looks like they won't even have the money to assemble the technobit boards!

The problem with driving an hour across Philly is that it is impossible unless you are going in circles. The city of Philadelphia is only 15 miles wide.  At 60 miles an hour, it should take you no more than 15 minutes to get from one side of Philly to the other.

I could make a webpage that says I shipped a million miners....doesn't make it true. AMT posted on their site and blog that they have shipped a bunch of hardware too. That said they are dealing with a shit ton of similar problems and gross underperformance on their hardware that they now have to compensate users (which is part of the lawsuit against them)....so yea the comparison is pretty easy. How its being handled on the other hand.....thats something else.

Again not sure why you would argue the obvious logic of ordering 2x S2s over cointerra boxes? The numbers don't lie. You getting 1.6Ths....where you could get 2Ths for close to what you paid for and take a much smaller loss and get a better product in the process. Seems to me like it just makes sense.