Official CedarTec Topic - New ASIC [Scam?] - page 34.

detail3

member

Activity: 70

Merit: 10

Quote from: Bitcoinorama on May 06, 2013, 07:46:08 PM

Well his neck is well and truly on the cutting board for this...

I personally think Phin is young, irrational and prone to outbursts and definitely needs to rethink what he wrote and the potential damage his words could have on the naive and his BTC wallet. As far as I can see he's just assumed all Cedertec's risk for 1 x miner.

I thought he was joking? Are we sure he was serious?

Bitcoinorama

hero member

Activity: 532

Merit: 500

Well his neck is well and truly on the cutting board for this...

I personally think Phin is young, irrational and prone to outbursts and definitely needs to rethink what he wrote and the potential damage his words could have on the naive and his BTC wallet. As far as I can see he's just assumed all Cedertec's risk for the promise of 1 x miner from a very shady unproven source.

Anonymousg64

sr. member

Activity: 392

Merit: 250

awaiting the details of when they plan to send him a demo unit.

although is this for real or is he playing a joke on us?

Bitcoinorama

hero member

Activity: 532

Merit: 500

Phinneaus, you trouble me in your irrational outbursts between here and KNCminer. Neither have proved anything, yet KNC are not asking for funds and have yet to determine their value proposition. They have however partnered with a reputable company that has released a press release on their main site aside from KNCminer's own. They have also supplied their names and their backgrounds are easily obtainable as are their private email addresses, other business sites, family pictures and most importantly they genuinely have years of experience in relevant backgrounds in finance and pcb/chip manufacture and the ability to produce prototypes without external funding. Yet you have been particularly vicious in your attack of them before they've even asked for anything other than to acknowledge their intention.

Here you have also been as equally as scathing with far more justifiable reason, yet now your're encouraging others to buying on the premise you will personally back all Cedertec pre-sales which could easily fill the 1,000 spots if you're going to offer a cast iron money's back guarentee. That's dumb, real dumb, ~US $1,123,000 dumb as of Tuesday 7th April at 1.35am GMT!!?!

From where I'm standing you're positioned to possibly gain a free miner or potentially loose in excess of US $1M if you value your moral obligation and integrity. It's the most moronic thing I've read yet, and I don't think you're a shill!

crisuch

newbie

Activity: 42

Merit: 0

Subject: Chinese manufacturers
Message:
Hello,
You had published that the shipping date will be at 14 - 18 may. In any case, including if there is a small retard, can you promise to publish the name of chinese manufacturer at 14 may, insomuch the costumers could have a chance to corroborate with a third part that you really are involving in a ASIC design?
Best regards
(me)

Dear customer,
when we start the production we will publish
every name of every involved comapany.
With best regards,
Your CedarTec Team.

06/may/2013

Anonymousg64

sr. member

Activity: 392

Merit: 250

aw damn i was trying to get the chance to get an early unit for review

ITS A STUNT TO TRY AND PROVE IM A SHILL, DO NOT RUSH OVER AND BUY A UNIT, FINISH READING TO THE END

dhenson

legendary

Activity: 994

Merit: 1000

Quote from: Phinnaeus Gage on May 06, 2013, 07:17:52 PM

Quote

Dear customer,
we will try to answer the questions as accurate
as currently possible:

> We are curious as to who are the people behind CedarTec, not in name
> but in personality, story's and philosophy.

-the most of our employees are younger, also we have some students,
which are
(mostly) studying electrical engineering and computer sciences.
The age from our employees reaches from 24 to 40 years.

> What kind of enterprise is this, profit driven, fun driven or purpose
> driven?

-First we have started as a group of friends, build some
fpgas and started mining ourselfs. We also gived some fpgas to
friends to bring them closer to bitcoins and the potential.
After some months we saw that the bitcoins gained more influence
and were represented with increased regularity by the media
in tv and computer magazines.
We have started to hire some students for a practicum at our
little group, at this time it was not seen as a company by us.
We have looked more into the future of bitcoins and started to
develope fpgas, which we canceled, we were to late, the market
was further on then we were. This was the step were we started
to develope an asic, it took a long time until we got
something worked, because there was a lack of money.
So we did everything in little steps.
Now we are more people who are working hard to finish the last
steps of our project.
You can say it is fun driven, purpose driven and profit driven
at the same time.

> How did it come to be and what are the circumstances that led to
> making it about bitcoin mining?

-see above and also we want to be a part of the bitcoin history.
We would like to bring bitcoins to more people to increase the
community.

> Talk about the development struggles along the past 2 years.

- we can make a summary in next days.

> Is CedarTec here for the long run?

-We will look further if we have shipped
all pre-orders. Minimum is the 2 years
warranty on our first official product.

> You do understand the stress and debate going around whether or not
> to trust your company, how are you thinking about this in terms of
> managing your company's public image?

-I, personally, can not tell you anything about this.
We have got instructions from our employer and have to follow
these. If it is good for the company images or not is not
in my hands. I can only publish informations and allow
actions which I personally am allowed to.

> Btw, what is your position?

-As I said before, it is not in my hand.
I understand the position of everyone
and it is not easy to trust a company which is
about 1 month online. But we try our best to strengthen
the trust in our company.

With best regards,

Your CedarTec Team.

Upon reading the above, coupled with the following email I received from CedarTec, I'm now reversing my position and categorically stating that CedarTec is not a scam. I repeat, CedarTec IS NOT A SCAM.

Quote

Dear Bruno,

Since you seem to have the most post
and a piller of the bitcoin community,
we at CedarTec are senting you a bitcoin miner for free
to help futher proof to the community we are reel.

Please provide to us you're address and
we will sent you one of our demo machiines.

With best regards,

J.H. CedarTec CEO

At least I have initials now, with maybe a full name once the package arrives. I don't mine, but The Joint, who doesn't live that far from me does, and I will give him the rig and split the coins, donating my share to Bitcoin 100.

Since I have proven that this is not a scam, please feel comfortable order from them. If, by some slim chance, CedarTec turns out to be a scam, I will fully reimburst all those that get scammed.

Somebody quote me before I change my mind.

Quoted for posterity.

I second that this proves nothing. It just buys them ~2 weeks to receive more btc from overzealous miner's.

Bitcoinorama

hero member

Activity: 532

Merit: 500

Wtf!? You can be swayed that quickly?! Let's see if they actually deliver anything first, or put your money where your mouth is and pay for three now if you're so sure other's should!!

You've proven nothing. This just buys them time, not confidence in their ability to deliver.

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote

Dear customer,
we will try to answer the questions as accurate
as currently possible:

> We are curious as to who are the people behind CedarTec, not in name
> but in personality, story's and philosophy.

-the most of our employees are younger, also we have some students,
which are
(mostly) studying electrical engineering and computer sciences.
The age from our employees reaches from 24 to 40 years.

> What kind of enterprise is this, profit driven, fun driven or purpose
> driven?

-First we have started as a group of friends, build some
fpgas and started mining ourselfs. We also gived some fpgas to
friends to bring them closer to bitcoins and the potential.
After some months we saw that the bitcoins gained more influence
and were represented with increased regularity by the media
in tv and computer magazines.
We have started to hire some students for a practicum at our
little group, at this time it was not seen as a company by us.
We have looked more into the future of bitcoins and started to
develope fpgas, which we canceled, we were to late, the market
was further on then we were. This was the step were we started
to develope an asic, it took a long time until we got
something worked, because there was a lack of money.
So we did everything in little steps.
Now we are more people who are working hard to finish the last
steps of our project.
You can say it is fun driven, purpose driven and profit driven
at the same time.

> How did it come to be and what are the circumstances that led to
> making it about bitcoin mining?

-see above and also we want to be a part of the bitcoin history.
We would like to bring bitcoins to more people to increase the
community.

> Talk about the development struggles along the past 2 years.

- we can make a summary in next days.

> Is CedarTec here for the long run?

-We will look further if we have shipped
all pre-orders. Minimum is the 2 years
warranty on our first official product.

> You do understand the stress and debate going around whether or not
> to trust your company, how are you thinking about this in terms of
> managing your company's public image?

-I, personally, can not tell you anything about this.
We have got instructions from our employer and have to follow
these. If it is good for the company images or not is not
in my hands. I can only publish informations and allow
actions which I personally am allowed to.

> Btw, what is your position?

-As I said before, it is not in my hand.
I understand the position of everyone
and it is not easy to trust a company which is
about 1 month online. But we try our best to strengthen
the trust in our company.

With best regards,

Your CedarTec Team.

Upon reading the above, coupled with the following email I received from CedarTec, I'm now reversing my position and categorically stating that CedarTec is not a scam. I repeat, CedarTec IS NOT A SCAM.

Quote

Dear Bruno,

Since you seem to have the most post
and a piller of the bitcoin community,
we at CedarTec are senting you a bitcoin miner for free
to help futher proof to the community we are reel.

Please provide to us you're address and
we will sent you one of our demo machiines.

With best regards,

J.H. CedarTec CEO

At least I have initials now, with maybe a full name once the package arrives. I don't mine, but The Joint, who doesn't live that far from me does, and I will give him the rig and split the coins, donating my share to Bitcoin 100.

Since I have proven that this is not a scam, please feel comfortable order from them. If, by some slim chance, CedarTec turns out to be a scam, I will fully reimburst all those that get scammed.

Somebody quote me before I change my mind.

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: ionstorm on May 06, 2013, 01:01:04 PM

I wonder if the mods can find the IP addresses of the cedartec account, ID be interested if they are from Lebanon or are using tor

Somebody else may have already replied to this with the same sentiment I'm about to espouse, but...

Yes, theymos could, but that wouldn't be a wise option on many levels, saved for only life threatening situations, like monthly suicides, etc. We don't know for sure if theymos exercises such practice for personal gain, but I WILL NOT make that assertion (nor doing it now), for there'll be no real way to prove it, hence a mute option.

If anybody asks for such, theymos should kindly reply in the negative, but I would love to see proof otherwise if any such action was ever taken in the past.

As much as I would love to nail these bastards, this is the wrong route to take. On the other hand, if requested by some police org., then that's a different story, but no way should we be privy to that information.

wrenchmonkey

full member

Activity: 224

Merit: 100

Quote from: ionstorm on May 06, 2013, 06:14:37 PM

I accepted the fact that they are a scam until proven otherwise when I preordered. So scam until this company proves it, don't let them have any more bitcoin until its proven beyond doubt, this is coming from someone who preordered BTW. Keep your btc safe for now, they have enough orders to make asics so let them choose to scam us or prove themselves

That choice was made well before the scam was initiated. They chose scam. Sorry you lost your money. Undecided

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: davidspitzer on May 06, 2013, 12:52:03 PM

There is a lot of discussion here. I think at this point the only verifiable method for this company to sell their product is to

1. Finish it
2. Lend or give seed units to reputable people to review
3. Take orders via escrow for intial orders, with a ship no later than date
4. Ship
5. Once established I am sure people would then be willing to send them money without escrow

Which makes them fuckin' idiots, for if they did the above, they could easily ask 25% more per unit--AND GET IT!

ionstorm

sr. member

Activity: 266

Merit: 250

I accepted the fact that they are a scam until proven otherwise when I preordered. So scam until this company proves it, don't let them have any more bitcoin until its proven beyond doubt, this is coming from someone who preordered BTW. Keep your btc safe for now, they have enough orders to make asics so let them choose to scam us or prove themselves

tigerfree

legendary

Activity: 1015

Merit: 1000

SCAM

Rampion

legendary

Activity: 1148

Merit: 1018

I want to believe that there's no one fool enough to actually have sent coins to this obvious scam.

The only thing worth posting in this thread is the SCAM word in huge bold letters.

Stop feeding the scammer.

Bitcoinorama

hero member

Activity: 532

Merit: 500

Quote from: Anonymousg64 on May 06, 2013, 05:20:23 PM

Quote from: ionstorm on May 06, 2013, 01:30:21 PM

Scam or not they made out with at least $200,000.00 with 150+ orders (with the btc price fluctuations) that's enough to manufacturer these 150+ asics or a successful scam.

most people are blind to the actual cost of things.
8$/chip (their figure)
10$/pcb with component placement (my estimate)
50$/components (my estimate)
so 140$ per asic unit,
prices may even be lower, components would be bought on reels and cost a few cents individually, even lower if the placement company can provide them.

Anonymousg64 you're obviously in denial, or a shill.

You can understand why peeps here now trust you as much as Cedertec you've become their voice box. They are aware of the posts here and on reddit and other bitcoin forums as they started the conversations. You trying to find answers to their holes and justify them is unnecessary. It's their problem and their loss in investment if they won't (can't) prove their product works by supplying a mod or a trusted member or accepting Paypal or Escrow or using a mining pool that will verify or anything else other than undeniable evidence.

If you're in denial than you are trying harder to justify this to yourself than they originally did when you handed them your money, which seeing as you paid by an anonymous currency is now too late. Bitcoin is amazing, but like cash you need to know what you're purchasing is 100% genuine as their is no recourse after unless the seller has a moral obligation to act with integrity. These people exist, but they are not Cedertec. So for that reason; credit cards, PayPal and Escrow warrant a purpose when cash is too risky a payment option. New start-ups, with no prior acknowledged experience outside of the known network should price accordingly for the respective interchange fees as investment without recourse in the case of bitcoin ASIC mining devices is simply not an option.

Scam.

Anonymousg64

sr. member

Activity: 392

Merit: 250

Quote from: ionstorm on May 06, 2013, 01:30:21 PM

Scam or not they made out with at least $200,000.00 with 150+ orders (with the btc price fluctuations) that's enough to manufacturer these 150+ asics or a successful scam.

most people are blind to the actual cost of things.
8$/chip (their figure)
10$/pcb with component placement (my estimate)
50$/components (my estimate)
so 140$ per asic unit,
prices may even be lower, components would be bought on reels and cost a few cents individually, even lower if the placement company can provide them.

Bitcoinorama

hero member

Activity: 532

Merit: 500

Again evasive crap or dressed-up waffle, won't answer who they are. Just expect more blurb in a few days, maybe with a little more thought and effort.

No lower down the scam'O'meter and not likely to be.

Anonymousg64

sr. member

Activity: 392

Merit: 250

Quote from: Bitcoinorama on May 06, 2013, 06:31:25 AM

Quote from: Anonymousg64 on May 06, 2013, 05:48:04 AM

if they truly have been working on it since 2010 i doubt they did so without any funding. it could even be a personal project or between friends.

You're right, your first valid point, they have to have had funding for four years for multiple employees, some that are currently living in China, yet have mentioned no prior investment and such generous parties are not interested in using this revolutionary tech for themselves. These eccentric investors, and friends, just buck the trend, encourage operating on a loss, and living on air the entire time, up until which point they want so desperately to recoup funding in merely a few weeks....ohh wait didn't they say they wanted to do a limited run of 1,000 to see what the uptake was? So, they've slaved away for four years, hidden whilst Lebanon clashes with Israel, an Arab spring and the Syria conflict spills over with their groundbreaking foresight to predict the ASIC revolution on an off chance peeps may share an interest in years to come prior to any realistic uptake or confidence in this emerging cryptocurrency!!?

You are a prize ****ing idiot. Complain to a mod if you like, I want to see one defend you and this utter bollocks!

whats wrong with having remote employees
their plan is not only to sell for a few weeks
i said that was my interpretation about them saying that all pre-orders will be sold whether it was as a pre-order or purchase after manufacture.
anyone looking at the computation problem regarding bitcoin knew the potential of each existing technology.

anyway, all the hostility and cursing and name calling doesn't do shiart

here is more from them:

Quote

Dear customer,
we will try to answer the questions as accurate
as currently possible:

> We are curious as to who are the people behind CedarTec, not in name
> but in personality, story's and philosophy.

-the most of our employees are younger, also we have some students,
which are
(mostly) studying electrical engineering and computer sciences.
The age from our employees reaches from 24 to 40 years.

> What kind of enterprise is this, profit driven, fun driven or purpose
> driven?

-First we have started as a group of friends, build some
fpgas and started mining ourselfs. We also gived some fpgas to
friends to bring them closer to bitcoins and the potential.
After some months we saw that the bitcoins gained more influence
and were represented with increased regularity by the media
in tv and computer magazines.
We have started to hire some students for a practicum at our
little group, at this time it was not seen as a company by us.
We have looked more into the future of bitcoins and started to
develope fpgas, which we canceled, we were to late, the market
was further on then we were. This was the step were we started
to develope an asic, it took a long time until we got
something worked, because there was a lack of money.
So we did everything in little steps.
Now we are more people who are working hard to finish the last
steps of our project.
You can say it is fun driven, purpose driven and profit driven
at the same time.

> How did it come to be and what are the circumstances that led to
> making it about bitcoin mining?

-see above and also we want to be a part of the bitcoin history.
We would like to bring bitcoins to more people to increase the
community.

> Talk about the development struggles along the past 2 years.

- we can make a summary in next days.

> Is CedarTec here for the long run?

-We will look further if we have shipped
all pre-orders. Minimum is the 2 years
warranty on our first official product.

> You do understand the stress and debate going around whether or not
> to trust your company, how are you thinking about this in terms of
> managing your company's public image?

-I, personally, can not tell you anything about this.
We have got instructions from our employer and have to follow
these. If it is good for the company images or not is not
in my hands. I can only publish informations and allow
actions which I personally am allowed to.

> Btw, what is your position?

-As I said before, it is not in my hand.
I understand the position of everyone
and it is not easy to trust a company which is
about 1 month online. But we try our best to strengthen
the trust in our company.

With best regards,

Your CedarTec Team.

ionstorm

sr. member

Activity: 266

Merit: 250

Yea, honestly if its a scam this is as far as they are going to get, if they keep it up someone will catch on and throw them in jail and it would have all been for nothing. Honestly it wouldn't take much for the FBI or government to find them, if they piss off one of their own they'll end up dead. This could be why they are being so secretive, but everyone slips up, the best of the best fail. I have faith that karma will be coming for them if they do us wrong. If anything we'll help it along the way.

Quote from: Bitcoinorama on May 06, 2013, 01:33:04 PM

Quote from: ionstorm on May 06, 2013, 01:30:21 PM

Scam or not they made out with at least $200,000.00 with 150+ orders (with the btc price fluctuations) that's enough to manufacturer these 150+ asics or a successful scam.

I completely agree with this. They must ponder upon the fact that *if they could get their shit together and act with integrity they could become something of real significance and greater profit then the original intention to scam.

They would have to honour all pre-sales though and not piss it away.

Topic: Official CedarTec Topic - New ASIC [Scam?] - page 34. (Read 43050 times)