Ok enough now.
CPP and refunds deadlineConfusion would be the best term to describe an otherwise very straightforward policy. A dedicated page explaining in simple words how the CPP works
has been available here http://bitmine.ch/?page_id=850 since day 0, but it looks like it wasn't clear enough, or just not read by most people. Let me resume some key points:
1) First 10 days don't count in late delivery calculation.
2)
Refunds can be asked on the 71th day of delay based on the committed shipment date, which is the one published when you place the order. For avalon-clones and December batch customer, that means you'll be able to ask the refund starting from February 27th (December 16th stated delivery date + 10 days + 60 days). An appropriate page on our web site under support will be opened tomorrow for anybody willing to ask for a refund and yes, we will be honoring them within 30 days.
3) The late delivery compensation for your unit(s) will be determined at the exact moment of its assembly, that's why it makes no sense to keep on asking the support team, they won't be able to give you an answer till the unit is in production!
4) The compensation is calculated on 10% steps of increase of the nominal hashing power that you've ordered, rounded to the next highest hashing module. So, if you ordered a 200 GH/s unit and your unit leaves our warehouse after 32 days of late delivery, that is 22 effective days which is 30% additional power. Theoretically that would be 260 GH/s which, in case of the Desk unit where the hashing modules are 200 GH/s each, that would make your order shipped with two 200 GH/s modules for a total of 400 GH/s. Before creating again a conspiracy based on my words, please note that we're currently evaluating the possibility to supply late orders with half-mounted hashing units (i.e. 4 CoinCraft A1 chips instead of 8 ) so whereas you'll still get more than what you were actually entitled for, it may be less than the above mentioned example.
5) Refunds are made in the same payment method on which the payment was originally made. That means: wire transfers get refunded with wire transfers, bitcoin payments get refunded with bitcoin payments.
6) Refunds are pinned to the daily exchange rate at the moment when the refund will be issued, based on the original USD price of your purchase order which is the base currency for the prices stated in the website. That means:
6.1 If you paid by wire transfer in USD, you get refunded by wire transfer in USD
6.2 If you paid by wire transfer in EUR, you get refunded by wire transfer in EUR at the daily USD/EUR exchange rate based on your originally invoiced amount.
6.3 If you paid by wire transfer in CHF, you get refunded by wire transfer in CHF at the daily USD/CHF exchange rate based on your originally invoiced amount.
6.4 If you paid by bitcoin transfer in BTC, you get refunded in BTC at the daily USD/BTC exchange rate based on your originally invoiced amount.
7) Refunds are not mandatory: if you don't request them with our refund request form, we won't be doing this automagically for you.
You can opt to wait for your 50% (the maximum) compensated order to be delivered for any amount of time.
8 ) Refunds are based on the originally paid amount, excluding any coupons or discounts. For example, if as an avalon-clone customer you opted for a 50% free coupon on your originally paid amount of $1000, your refund will be based on $1000 and not on $1500.
Ok enough now. i have marked the important parts in giorgios post above.
Giorgio wrote that refunds can be asked on the 71th day of delay.
Excerpt from the TOS:
http://bitmine.ch/?page_id=10014.5.1 Shipment can be late up to a maximum of 10 days from the agreed shipment date.
4.5.2 For each subsequent 10 days of late shipment, we will add for free 10% more hashing power to your order.
4.5.3 After the 61st day of late shipment, you have the right to request a full refund and we will pay you an additional penalty of 10% of the initial order amount, including shipping fees.
is anybody able to see the error? No?
either the maximum cpp of 50% is wrong or the 71th day for refund.
This will clear things up:
Day 10 = 0% compensation
Day 20 = 10% compensation
Day 30 = 20% compensation
Day 40 = 30% compensation
Day 50 = 40% compensation
Day 60 = 50% compensation
Day 70 = 60% compensation
so the logic behind that is inconsistent. after the 61th day you are eligible to ask for refund not the 71th day or the maximum cpp of 50% is wrong and it should be 60%.
It seems to me that giorgio is bending the truth to match his own reality. I really hope that i am wrong with my assumption.
