Off-Topic - page 219. | Bitcointalksearch.org

laughingbear

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Quote from: ?? on ??

How can they do payment first when they offer bank transfer and they have to wait for BTC Confirmations?

It's order date with a cutoff time to pay.

This is how it is with most businesses.

BTC payments should get preference of course, this is a bitcoin business. waiting on bank transfers, sorry but that should not penalize the btc orders. No one buying this sort of equipment should not be aware of the problems with the banking system.

jdape

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Quote from: joeventura on June 19, 2013, 10:15:30 AM

The good news is that the offering to the public gets another 10k chips

Well, yes and no. They said they had 20k chips to sell via pre-order. That's what they did. This 6400 chip order was already cancelled when they announced they were accepting pre-orders.

Hopefully there are no other 'behind the scenes' orders ahead of us all in the queue, that we don't know about.

laughingbear

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Quote from: newguy05 on June 19, 2013, 10:16:23 AM

Are you guys saying terrahash is not processing order based on who paid first? that doesnt make any sense.

terrahash can you please confirm.

I called and talked to them personally. The man on the phone confirmed this with me.

Feel free to call him, and let him know how you feel, its a toll free number.

newguy05

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Someone is sitting in the shade today...

I was always under the impression the queue is based on who paid first? isnt that the standard practice and common sense. Why should someone who places 10 orders but doesnt pay until the last min when they know terrahash is shipping be in front in the queue than the person who paid right after placing the order?

I understand bitcoin payment may take a bit time to confirm that is fair, those who paid with bitcoin should be allowed 12 hours if no confirmation by then, the order should be moved down the queue.

Are you guys saying terrahash is not processing order based on who paid first? that doesnt make any sense.

terrahash can you please confirm.

joeventura

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Quote from: jdape on June 19, 2013, 10:10:18 AM

Oh, now it makes even more sense to me...

Quote

sending $79,109.13 up front on 14th of May

Cloudhashing sent TH just enough money to purchase another 10,000 Avalon chips on May 14th, right when TH says they would have made a second avalon order.

Now comes June and Cloudhashing wants a refund, but TH has no money. The only way to raise money for a refund is to accept pre-orders.

Seems right, and I guess I can't say I blame them.

The good news is that the offering to the public gets another 10k chips

pixl8tr

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Quote from: jdape on June 19, 2013, 10:10:18 AM

Oh, now it makes even more sense to me...

Quote

sending $79,109.13 up front on 14th of May

Cloudhashing sent TH just enough money to purchase another 10,000 Avalon chips on May 14th, right when TH says they would have made a second avalon order.

Now comes June and Cloudhashing wants a refund, but TH has no money. The only way to raise money for a refund is to accept pre-orders.

LOL I'll bet you are right. Makes perfect sense. Grin

laughingbear

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Quote from: jdape on June 19, 2013, 10:10:18 AM

Oh, now it makes even more sense to me...

Quote

sending $79,109.13 up front on 14th of May

Cloudhashing sent TH just enough money to purchase another 10,000 Avalon chips on May 14th, right when TH says they would have made a second avalon order.

Now comes June and Cloudhashing wants a refund, but TH has no money. The only way to raise money for a refund is to accept pre-orders.

makes sense. I think this is a sound theory

jdape

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Activity: 269

Merit: 250

Oh, now it makes even more sense to me...

Quote

sending $79,109.13 up front on 14th of May

Cloudhashing sent TH just enough money to purchase another 10,000 Avalon chips on May 14th, right when TH says they would have made a second avalon order.

Now comes June and Cloudhashing wants a refund, but TH has no money. The only way to raise money for a refund is to accept pre-orders.

jdape

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Quote

Abiodun originally ordered $105,000 of equipment from TerraHash

Interesting how that amount is exactly ten fully populated DX Larges.

cad_cdn

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+1

Quote from: TheSwede75 on June 19, 2013, 10:03:27 AM

Quote from: kendog77 on June 19, 2013, 09:54:39 AM

Quote from: merv77 on June 19, 2013, 09:20:27 AM

fresh news: http://www.coindesk.com/terrahash-opens-asic-mining-preorders-loses-business/
cloudhash cancelling order... Cry

Interesting, so Terrahash did in fact take pre-order money from at least one big fish before they officially opened up pre-orders to the public. Perhaps the reason why they haven't been forthcoming about the 20k Avalon chip order described in the first post is because a lot of those chips are already accounted for.

The window to get any kind of ROI is so small that I suspect folks that don't get units by August will lose money. It would be nice to know which chip order (and the chip order date) is associated with each order in the queue.

ONLY acceptable behavior is:

1. Terrahash ships order by pay-date and not their phony 'order nr'
2. Terrahash discloses to PAID order holders if their order is within first 10k chip order, 2nd 10k chip order or on 3rd/later chip order.

Otherwise I am cancelling for refund ASAP!

joeventura

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Quote from: kendog77 on June 19, 2013, 09:54:39 AM

Quote from: merv77 on June 19, 2013, 09:20:27 AM

fresh news: http://www.coindesk.com/terrahash-opens-asic-mining-preorders-loses-business/
cloudhash cancelling order... Cry

Interesting, so Terrahash did in fact take pre-order money from at least one big fish before they officially opened up pre-orders to the public. Perhaps the reason why they haven't been forthcoming about the 20k Avalon chip order described in the first post is because a lot of those chips are already accounted for.

The window to get any kind of ROI is so small that I suspect folks that don't get units by August will lose money. It would be nice to know which chip order (and the chip order date) is associated with each order in the queue.

I don't understand comments about ROI and losing money.

If you bought an 18GH unit for $900 and when it gets delivered the cost of BTC is $120 and the Difficulty is 50 million I am still producing $600 a month and break even is 45 days.

How do you lose money? I think the better term to use would be "Extended ROI window?"

TheSwede75

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Quote from: kendog77 on June 19, 2013, 09:54:39 AM

Quote from: merv77 on June 19, 2013, 09:20:27 AM

fresh news: http://www.coindesk.com/terrahash-opens-asic-mining-preorders-loses-business/
cloudhash cancelling order... Cry

Interesting, so Terrahash did in fact take pre-order money from at least one big fish before they officially opened up pre-orders to the public. Perhaps the reason why they haven't been forthcoming about the 20k Avalon chip order described in the first post is because a lot of those chips are already accounted for.

The window to get any kind of ROI is so small that I suspect folks that don't get units by August will lose money. It would be nice to know which chip order (and the chip order date) is associated with each order in the queue.

ONLY acceptable behavior is:

1. Terrahash ships order by pay-date and not their phony 'order nr'
2. Terrahash discloses to PAID order holders if their order is within first 10k chip order, 2nd 10k chip order or on 3rd/later chip order.

Otherwise I am cancelling for refund ASAP!

jdape

sr. member

Activity: 269

Merit: 250

Moved the TerraHash Order Queue and information to it's own topic:

https://bitcointalksearch.org/topic/terrahash-order-queue-and-info-238148

kendog77

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Quote from: merv77 on June 19, 2013, 09:20:27 AM

fresh news: http://www.coindesk.com/terrahash-opens-asic-mining-preorders-loses-business/
cloudhash cancelling order... Cry

Interesting, so Terrahash did in fact take pre-order money from at least one big fish before they officially opened up pre-orders to the public. Perhaps the reason why they haven't been forthcoming about the 20k Avalon chip order described in the first post is because a lot of those chips are already accounted for.

The window to get any kind of ROI is so small that I suspect folks that don't get units by August will lose money. It would be nice to know which chip order (and the chip order date) is associated with each order in the queue.

Vigil

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Activity: 378

Merit: 250

I went through TH cause I don't have enough BTC to go through the group buys, but I can just use my money to buy BTC and then go through the group buys if it isn't by first paid.

laughingbear

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Seconded. If indeed they are allowing people to sell unpaid preorders, I think I am going to ask for a refund. Ill invest my money somewhere else.

Vigil

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Activity: 378

Merit: 250

By paid, definitely. First come first serve, unless you can't pay for it. 6 or 7 days is enough to place a bunch of early orders without paying, put them on Ebay, and then transfer the Ebay payments to Terrahash.

TheSwede75

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Quote from: angelus359 on June 19, 2013, 04:37:45 AM

I have order 1112 for a 64 chip board

Should I just cancel?

I for one would not pay a cent until we get clarification on shipping order. Terrahash seemed legit, but if they indeed go by when some kid threw 10 DX-large into his 'cart' just to resell the order with no intent of paying himself we should all just abandon ship. No serious company would ever allow this (Hell, even Avalon/BFL wouldn't pull that shit).

laughingbear

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TerraHash should prioritize these preorders by when people PAID. I never received my receipt either. It is not in my spam folder.

TheSwede75

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Quote from: BitTex on June 18, 2013, 08:03:26 PM

Quote from: newmars on June 18, 2013, 07:03:18 PM

how would I know whether my order will be processed with the Avalon chip batches already purchased by your company?
Any email notification of this info once all the order and payments sorted out?

Terrahash isn't going to answer this. It would cause too many people to start asking for refunds once they found out the bad news.

Same reason why he lied and did not post the Avalon order info on Monday as promised (which would have let potential customers know how few chips he had). He wants start-up money for his business.

But please, keep on asking. Hopefully Terrahash will be more transparent in the future. I want him to succeed. I just couldn't give my hard earned money to him.

If Terrahash really DO accept the "order numbers" and not "when paid" as the shipping order I know personally at least $200k worth of orders that will be cancelled. I for one will be canceling mine ASAP. It's one thing to 'land rush' your first batch, but quite another to allow for line-sniping by a bunch of penniless kids and punish people who actually places legit orders.

Topic: Off-Topic - page 219. (Read 384417 times)