Topic: Official BITMINE CoinCraft series 28nm ASIC miners thread - page 28. (Read 565301 times)

Datacenter is supposed to be ready in 2 days. Let's see how it turns out. Laugh at me all you want but I'm still kinda optimistic. That's probably the summer. 

LOL !

I bet you can't afford to do this !

Another glowing review!

I originally placed an order last November for a February delivery.

After cancelling the order, and finally being given the offer of an October refund, compensated hashing, or hosted hashing, I decided to negotiate on the amount of hashing I'd receive in compensation.

I'm happy to say that within 10 days of concluding those negotiations, my Coincraft Desk units have arrived from Bitmine.ch, and are now up and working (after a little bit of maintenance caused by one of the Pi controller boards coming loose).

Its doubtful that I'll ever manage to quite breakeven now (unless the exchange rate goes silly), but the risk of waiting to see whether I'd see any sign of the refund was too great.

I've learnt my lesson though... next time I'll hire an engineer to do the ASIC design and build the units myself!

I'm just glad to be able to draw my particular case to a close.

Hope the rest of you in limbo manage to sort things out one way or another.

Hashpower is not a refund.  It's worth a fraction of what it would have been in January/February when it was promised, even if they double it.  Many of us were promised refunds in May.  They have used stall tactics... do you disagree?

They are allowing all sorts of compensation aka additional hashpower and transfer of the amount they owe you to cloudhashing (it includes the 10% penalty).

They have stated before that they will process remaining refunds after their Icelan datacenter is online.

Dogie's hardware manufacturer's guide lists Bitmine as having "some" refund issues.  He is tracking a lot so it's hard for him to cover all bases.  If you think this should be brought down to

"1/10 Refunds significantly delayed or not being processed at all. Includes stall tactics."

Let them know how you feel on his thread: https://bitcointalksearch.org/topic/guide-dogies-comprehensive-manufacturer-trustworthiness-guide-1st-feb-2016-456691

Hi, what does that say in English please? I dont read italian

Googl translation of above italian article. In very bad English but you can get the gist.

LUGANO - Franco *, a young man from Ticino, is immediately fascinated by the bitcoin. The virtual currency is all over the papers and the value goes up to the eye. With a friend decided it was time to invest: he needs a 'miner', a special computer that produces the currency. "We relied on Bitmine AG Camorino. Whether it is a Ticino - Franco tells us - and because there seemed formed by serious people." The miner costs about 7,000 francs, the two boys pay them in advance. "When is the last date on which we would have to get the car, we discovered that the company was late with the production. Few weeks we were not scared, we would never have thought to get to the point to where we are today: it's been a year by the order and we have not received neither the processor nor the money back. " The anger of Franco grew up in the months: "The thing that angers me is the poor customer service, rather than say they do not expect."

Four hundred thousand dollars - What Franco is far from an isolated case. There is now a website for those who have asked for a refund and have not received bitminerefund.com, which shows a total creepy, over 400 thousand dollars of refunds due. The CEO of Bitmine AG, Giorgio Massarotto, explains that the data is not updated: "Customers when they receive the money does not go to delete the message." There is confident, however, how much is the overdraft; more than half of the repayments, however, would have been made. In addition, the miner is a market particore: "Many companies do not even offer the option of refund, if the delivery is delayed the customer waits. We wanted to do differently in order to offer a better service, in the end what has backfired we will. "

The hope is cloud - "The company is not likely to fail - Massarotto comfort - the new project in Iceland cloudmining allow the recovery of all arrears and the continuation of the sale of hosting solutions." In fact, Bitmine changed strategy: Do not sell more cars because "for private customers is a market virtually disappeared." Customers purchase only the computing capacity required for the production of bitcoin. The miner, which are managed directly by the company, you will find in Reykjavik. "By coordinating large batches is much easier to deal with than trying to customize configurations for each customer."

meanwhile....

http://www.tio.ch/News/Ticino/803819/Volevo-creare-bitcoin-da-mesi-aspetto-i-miei-7-000-franchi/

Could you elaborate a bit? You know that IceMine exists, or that there's actual Bitmine hardware there? Where did you come across this info? TIA.

I can confirm that it exists. I have nothing to do with Bitmine, but by coincidence, I stumbled upon the information.

Lol there is no refund "schedule" it's all just made up. Sept will of course come and go with no one getting refunds (I've been waiting since APRIL). Then they will spout off some new nonsensical future date that will come and pass as well. Liars period. No one's getting refunds, they stole all the money and did god knows what with it. Probably strippers & hookers.

Is there any info available about the data center? Or at least some proof that it even exists? I'm thinking of trading my refund for hashing contracts, but Bitmine's past actions don't exactly inspire confidence..

is there a way to tweak the individual modules to run at a similar spread.  I have in some of the boxes modules which run 10% less than the fasted module?

Is there something on the modules to adjust?

I was promised refund by mid September the 30th of June and this is the latest info received 30th of July

cheers, thank you for the information

I think they have stated thet they will pe processing remaining refunds after they have their Iceland datacenter equipped with units.

These units are available for cloudhashing and the unsold rest will likely remain in the posession of bitmine, where they will be able to generate some income.

I think they have offered to also let you use your owed funds including the 10% penalty towards a cloudhashing contract.

Mid August seems to be the target for availability of cloudhashing.

Has anyone received a refund recently ? via bitcoin or wire transfer ?

I would like to hear if Bitmine is actively trying to refund customers money.
I received a letter acknowledging my refund request on June 6th , 2014 for order #4036

They owe me approximately 6 BTC

Another, potentially easier way around this is to create a legal entity specifically for creditors.  Each person would hold *shares* in the entity equal to their order value.  Then that one entity could sue bitmine.

good luck everyone.

A summary of my latest discussion with a lawyer:

1. To prepare and launch action via the Swiss courts will cost 1000-1200 Euro.
Their courts do not provide for class action, hence even if a workaround is
found (see below) it will not scale well. My Bitmine order is simply too small to
make legal action profitable.

2. One way around this is to buy up refunds from Bitmine's (ex-) customers.
Before you get too excited about this, from my reading of the threads,
at best the expected payback is of the order of fifty percent of the refund.
Deducting for risks, costs and investment, if I were to go down that route,
well, ten cents on the dollar for your order seems about the market value.

Just my opinion, and my interpretation of some advice. I'd be happy to hear
differently, and this is not an offer to buy your order, just by the way.