Topic: Pangolinminer demanding extra payments for delayed Whatsminer D1 shipments (Read 465 times)

Well, I have to give Pangolin credit. They did process my refund and although it was about $60 short I will take it!

At current levels that will make at most $400 a month. $2700 + $200 shipping + $100 PSU +$800 import tax = never get your money back lol. All they are doing is killing the guys who bought their DR1 and DR3's. Bitmain is the worst when it comes to taking care of it's customers.

Bitmain coming to kick Pango/Whatsminer out of business:

https://m.bitmain.com.cn/product/detail?pid=0002018111918225889369SR3N9s0646

It would be good riddance.

DR5 - 34TH/s, 1800W, $2700

It's just a crappy time right now.  It was this skinny a few years ago, gotta keep mining and within a year (HOPEFULLY) we are kicking back with 3-4 times our $.  If not, it was a fun ride.

To be honest I don't understand how anyone - except places like Iceland where electricity is essentially free - is making money mining. I bought the most profitable miners out there 2 months ago and I won't make my money back on any of them. My GPU rigs make dribs and drabs if anything at all. GPU mining is essentially dead, even for the algos that fork to be asic resistant. The difficulty increase without the theoretical increase in price means if you haven't made ROI yet you probably never will. It's a shame because I really like the idea of decentralized money. But as with everything profitable, those with control of the money will take all the profit.

Pre mining is one of the biggest issues with the industry. Kills trust, their consumer base, profits, and ROI for consumers. Everyday microbt mines on these the worse their reputation becomes and the more business they will lose long term. Regardless of the hype of who they have developing for them or new releases customers DO NOT forget poor experiences.

Yep my bad, I'm sure you never have made a mistake.

My "favorite things" to see in this forum , when someone just jumping into the topic, without reading actually what this topic is about, and trying to be super smart about something what is totally not related to the OP post, and have nothing to do with the problem,  issue the OP and some other members have !!!

Some helpful info for those "smart" members .. there is a big different between  MicroBT Whatsminer D1 and MicroBT Whatsminer M10 one is for  Blake256R14 , the other one is for SHA-256  

This is not the M10. It's the D1. And MicroBT is definitely being shady here. Maybe Pangolin as well. Let me proffer a scenario that fits the facts.

MicroBT has the first batch - 44TH/s -  made and are currently mining them for a month. This explains the double in difficulty and hashrate in one month's time. If they were having problems delivering on the first batch, and had already improved them before the end of the first manufatcuring run, they would not have the units at 44TH/s to fullfil the original orders. They would only have the improved units to ship.

The miners will no longer be profitable - the daily return on them has already dropped by 66% since they took the orders. Customers know this and are demanding returns.

They have a second batch being manufactured that is slightly improved upon the first. They are trying to squeeze extra profits from their original buyers because their sales for a second batch will be nowhere near what their sales for the first batch were. 

They have pushed back the original delivery date so they can mine out as much profit as they can before releasing the much diminished miners on their sucker customers.

This fits all the facts as we have them.

As the story is unfolding it is clear that MicroBT is screwing its customers.

MicroBT did not screw up by the way. Pangolinminer sold too many and cant get the proper units.  There are 2 type os the M10 one is 31 and the other 34 and they cost a little more.  Thats the issue.  They are trying to cover up their screw up.  MicroBT has nothing to do with the mess up.

Email just sent to Pangolin.

Dear Sirs,

I am demanding a full refund for the my order as MicroBT has failed to meet the delivery deadline. The lost revenue alone is far more than any refund of delivery cost. Also, if all first batch units have been improved to 48TH/s where did they suddenly get the 44TH/s units to fulfil the orders? It is obvious they have been mining with them all along and doubled the difficulty with profits that were due their customers. This miner is no longer profitable. I will not order from MicroBT or Pangolin in the future as it is clear that they are not acting ethically towards their customers. Please remit the full refund to BTC address xxxxxxxxxxxxxxxxxxxxxxxxx

Jon Wood

Pangloin update:

I received this email from Pangolin today. The contents still show some shady behavior by MicroBT. The first batch was supposed to all have 48 TH/s improvements so where did the 44TH/s machines come from? I can only conclude that MicroBT has been mining with the machines, the first batch was used by MicroBT to boost the difficulty by 100% and take profits that were rightly due miners. They are also delaying the said delivery another month so they can get another month mining profits from them before shipping them to us. I am still demanding a refund as these machines will never show a profit. I will post as I get updates.


Dear J,

After negotiate with MICROBT company. We got updates as below:

1. All the Whatsminer D1 in your order will be remained as 44th/s. And if you have already makeup the difference, we will refund to you by Bitcoin or USD.

2. We promise the Whatsminer D1 in your order will be the first batch dispatched from MICROBT.

3. For the delay of shipment, we guarantee that your order will be dispatched before 2018/12/20.

4. Pangolinminer will cover your delivery cost. We will payback you the shipment cost by Bitcoin or USD.

Here we apologize again for the bad experience we have brought to you.

 

Team Pangolinminer

2018/11/15

I sent Pangolin an email demanding a refund. They said they are currently in negotiations with MicroBT. I would guess that given the opportunity to cancel orders for a miner that is worth half what it was sold for, many are taking said opportunity lol. We shall see what happens.

That's not unprecedented at all.  2017 and some of 2018 they always did that.  the "golden era" of mining also brought out all the greedy money grubbing bastards.  This was standard practice.


It's odd they are trying to hose you now though while its a crappy time in crypto mining profits, but they do have a bunch of your money already so to them it's a perfect time.  Try and get your money back I bet you they will not send it.  In layman's terms, they have you by the balls.

I also got the same mail.

It seems Pango is blaming MicroBT for asking for more money. Unprecedented behavior even in the Crypto world.

I hope Bitmain, or someone, launches a better miner and makes them both go bust.

Here's the rub. I didn't pay MicroBT. I paid PangolinMiner. So my refund should come from Pangolin. Then there is the increase in diffuculty. I purchased my miner on Sept 7 with a difficulty of 5,413,314,135. As of Oct 8 the difficulty was 5,639,112,909. As of today it is 10,838,756,038. It has doubled in a month. MicroBT sent a picture of the miner in action with the 9% increase in hashrate. This can only mean that they, along with the Bitmain DR3 release, have doubled the difficulty running their own machines. If the difficulty increase is due only to the release of the DR3, when their miners hit the network - being 6x more powerful than the DR3 - the difficulty will make their asics much less profitable when delivered. At the this rate the difficulty will be 3x what it was when I ordered. I will gladly take my refund if I ever get my money back.

Please no! 

Since Halong is no longer selling new miners, I figured I'd move along to shill the next company. Who knows... maybe in a few months I'll be shilling BCH!

when did you start working for whatsminer? you were working for Halong I thought.

What the hell is happening? Their delivering late but charging more for added performance? Wow.  .. glad the D1 orders have been slow. Looks like we'll have a lot a of refunds to give. I'll suggest we to talk to whatminer.net again if pango is acting like this.