Topic: Re: Black Arrow 28nm 100Ghash Bitcoin ASIC from $0.49/GH/s - page 30. (Read 96803 times)

The X3 is now worthless trash if you pay more than 21¢ a kWh.

My suspicion exactly. Hopefully someone in the HK Revenue service, and the other countries equivalent, will have the knowhow to follow this up. They still had it as income so appropriate taxes should still be paid. Any losses for following years would be a separate issue.

So the coins people paid have finally been moved from the original wallet it seems. I find it very hard to believe they were stolen and that this is instead just a cover story to claim they don't have the coins anymore, but in reality, secretly control them.

re: Angry

I find that post a bit misleading; the situation looks like a scam from the beginning when they used our money to buy Bitfury chips for their data centre until currently where they're claiming to have been the victim of theft. It would be ironic that they would have their ill-gotten gains taken from them but the idea that Black Arrow still has control or just sold the coins is gaining traction IMO.

To believe that BA is just an honest company that ran into trouble you first have to believe that the convicted criminal (for fraud over the internet) who runs the show has turned over a new leaf so-to-speak with this company that appears to be based on the BFL business model.

My payment also go "moved" on the 26th September

FROM http://ecointalk.net  Angry
Posted Yesterday, 04:55 PM

They are not Chinese.  If it isn't apparent, Black Arrow appears to be one or more Romanians who live in the UK.  They pay Chinese companies to build their equipment for them.

 

I believe they ceased production at their previous factory because the company they contracted out was very slow, and probably because they ran out of money.

 

They found a new production company that can produce all the miners in three days, but I don't think they are producing anything, because they are out of money.  (It would be obvious if they were, because in three days, they'd be done.  Since that hasn't happened, you can figure out the rest.)

 

I believe that they are looking for some kind of third party investor who will provide the necessary cash to complete production.

 

In the meantime, they may be producing units themselves, slowly for lack of anything better to do.

 

I believe the company is broke.  They may be mining with some X3's to get enough cash to keep the lights on and pay people, and maybe finish a miner here or there by hand.  But at this stage, it sounds as though they are just broke and looking for new investors.

 

I would like to think differently, but when I ask about their financial situation and why they are unable to do certain things, their lack of answers indicates they are broke.  No denials.  No proof of any kid.

 

I think if anyone looks at this with a clear head, you have a company that hasn't made a sale in over half a year, trying to pay people to build these miners.  It's game over.

 

Sure, they MIGHT find an investor.  But this generation of miners are worthless unless Bitcoin goes to a thousand dollars a coin, but every difficulty increase that clicks by, no matter how small, shows us that the machines will be that much pointless to produce and ship out.

 

It's a terrible situation to be sure.  They took a lot of people's money, including mine, and gave them nothing in return.  Being broke, they have no way to fix it.  It'll come down to lawsuits and legal action before too long, because they won't be able to prove to any investigating body that they can make good on the contracts they agreed to.  They are screwed.  The only hope is some kind of angel investor, but I really don't see how one would step into this mess and waste money trying to fix it.  Not unless they got complete control of the "company" and all of its IP.

 

I wish Black Arrow luck in trying to sort this mess out.  But the whole thing is a wash as far as I see it.  Pretty soon I'll be able to get 2th for less than what it'll cost BA to ship me my units.

My payment to black arrow appears to have been laundered to here: https://blockchain.info/address/1AjkpTx4skYo7e65dKcpu2RUuwXq46Ln9p and here: https://blockchain.info/address/1FsVcdeHbpvUVT3gjeuVR2ZSDnpcsJMsLL  (these might be trading site wallets etc, I don't know, so don't jump to any conclusions yet, would be interested to know if anyone elses trails pass through these points)

I'm personally still not convinced that any traditional theft occurred from Black Arrow, I believe this type of deception has a very different name.

I am wondering if these, and those of other customers that paid in BTC, are the BTC they are claiming were "stolen"


gosh, gee, golly, there's no way they can refund what's been stolen, probably don't have to pay taxes on it either, and how in the world do they fund the rent-a-minion or continue operations now that all the moniez haz been took by those low-down dirty thieves.

Mine (7 BTC for 2TH cloudmining) were finally removed from payment address on 26 Sep.

My only payment from cloudmining was 1 Oct.

As I mentioned in Alex's thread, anyone who has sent bitcoins to BlackArrow, check to see if those coins are still in the original wallet you sent them to, or if they've been moved (stolen) as BA would like you to believe.

The thread this comes from is one of the most insane things I've ever read.

Wire fraud confidence criminal Alexdru Ion Sovu is now giving his genius innovative advice to the core devs by starting a bitcointalk thread about something people have been talking about for years!

This guy really might be legitimately mentally ill.

I don't think MS cares. Only 11 people have even bothered to file a BBB report, which only takes a few seconds to do online. I doubt anyone has even filed a lawsuit against them. Maybe MS have delivered or refunded most of the BA orders they took?

I almost feel bad for Minersource. They hitched their buggy to these horses, only to find out they were dead. From what I've seen, they've been doing their best to make things right, but there's only so much you can do before the stench of BA's rotting carcass starts getting to you.

But on the other hand, the reseller customers were served ahead of BA's direct customers who ordered months beforehand, which is all kinds of shitty.

In the end, you have to cover your own ass and do what you think is right.

Minersource and Blackarrow promising refunds and then telling their customers, sorry whoops you're not getting a refund is not acceptable or allowed.

From usa.gov - Consumer Complaints and Protection

This only applies to Minersource since they are located in the US.


copied from BA's moderated thread.

Still no news on BlackArrow being shut down? How much longer will it take? This has gone on for too long.

The BlackArrow user deleted the following post from their thread: