Bitcoin Forum

This is an open thread, to discuss AMT Miners, also known as Advanced Mining Technologies inc which has been created by me, i am a concerned client of AMT, and I plan to take an initiative in helping to get the to the bottom of the current situation.

My name is: Mr. Swim
My order number is: #333

Based on the update AMT has posted, it is safe to say that they feel they should not speak directly on this thread.

https://bitcointalk.org/index.php?topic=569769.new#new

It's also safe to assume that the plaintiff's attorney's are following this forum, and are considering any attempt to resolve this situation without them, illegal and may act on this, and try to stop or halt AMT's business operations all together because of it. Otherwise I don't any other  reason as to why AMT would not follow through with the updates mentioned.

My name is Mr. Swim, and my order number is #333.

Okay, thread 3 for them now.  ::)
My only want is miner(s) that give as-sold hash rate at time of my order for money I've paid.

Don't care who makes the miner or even about the MPP promise nor that $/GH has dropped like a stone since I ordered.

Since my order was for a 520 then even 4x Ant s1's would do it. If legal has a problem about the MPP and cost differential being too high in favor AMT (which it is), then a Antminer S2 takes care of all that, I'd be ecstatic and AMT still makes a very decent profit. Win-win for all parties.

Do you happen to know why they had even chosen to reply to people in a forum and not directly to their customers via email? I have an order with 2 1.2th miners. Gee if they even send me some competitor's hardware which is cheaper now id be happy.

On Friday, I was at at the office and I spoke with jim about the solutions they planned to offer their clients. I overheard some talk about being silenced and how if the offered those solutions via their website as planned, they would be acting illegally and therefore could not do it.

Those options were as I remember:

To receive a miner immediately, shipped either from Bitmine ( if in europe ) or from a factory in China which has already started producing their miners as of last week.

To receive of a miner via a hosted solution which will be operating as of the 20th of this month.

To receive a miner created  locally, by a manufacturer here around Philadelphia, and the design is based on technobit's design, because AMT purchased the license from tecnobit a few weeks ago.

And the last as to receive a refund option, payment monthly for a period of 6 months.

So what exactly is the resolution?   Anyway,  I'll take the refund.

And that is the problem I have with class-actions. Those customers who are still willing to work with the defendant to resolve their complaints differently become shut out from the process. It becomes an all or nothing 'Our way or the highway'.

A couple of questions.

What is the address of the office?   How many people were at the office?   What time were you at the office?  

Where can we ship bad units for RMA?

Well, the class action is the process.   

Maybe you don't realize this,  but AMT has only responded to complaints when legal force was levered on them.

There are a lot of customers here that asking about their shipment.  They haven't even realized that there was a class action lawsuit that was created a month ago.   

Not everyone is willing to be as patient with the likes of AMT, as you are.

Why you'd be willing to continue to take AMT's word and do business with them, seems bizarre to me. Let's get refunds and move on.

Not sure why their legal council hasn't given AMT that advice (REFUND EVERYONE).

The class action should not be and does not have to be the *only* process.
Yes legal action is what got Bitmine, AMT and others moving but now that they have, how is it in anyone's best interests to block further solutions?

The biggest part of the suits, especially the Fed's,  is the continued sales even when there were very significant problems with getting chips made. I firmly agree that that must be legally addressed to stop the practice of pre-orders.

Now that chips are in production as of Dec/Jan (though to me those should have been called engineering samples) it is a matter of getting them put into (working) miners and *that* takes time both to characterize the chips and their requirements. AMT and others were/are doing that but unfortunately the huge number of pre-orders rightfully screaming for their equipment put a serious wrench into that process. As a result some rigs were sent out either DOA/highly marginal. Now with workable boards or other makers rigs available the class-action may well have put a stop to anyone getting satisfaction entirely.

Like I mentioned in the other thread I spoke to a friend of mine who handles corporate law...sometimes class actions. He speculated based on what I showed him alot of the same stuff. They would be forced into silence to further avoid incriminating themselves. That much is pretty standard apparently. But the settlement and resolution is another matter entirely. We still don't know anything about that. I agree with what you are saying tho. Not taking them at their word. But at this point does not seem like there is going to be any more word to take them at for a while. I think tho the refund or compensation route is the way they going. Only logical conclusion on this.

That is entirely possible that it MIGHT put the process to a halt, but if they are functioning as a business then not likely. They still have to build out the hardware. At the very least at their own cost they would have to provide us with working hardware that would satisfy our claims and address our issues. OTOH they could wind up with a settlement that ends with us getting hardware at the dollar amount we paid them for. Lotta different possible solutions here for us. BUT based on the info I got, it seems like its going to go in our favor most likely barring some weird aspect we are not aware of. But with the existing info we should be ok after all this. Just might take some time is all.

OK Mr Swim, #333 who has come here to help enlighten us, I'll play along. ;)

Did they say they were still going forward with the offers, did they say if E-mails were still going to be sent out explaining the choices and time lines for each option, and what future compensation we can expect.

I would really like to support AMT but you, I mean they keep making it harder and harder.

PS. did you use to post as RWMAX? that guy really pissed me off

I would like to take refund too for my 2 miners. every week I keep sent them emails no response at all. this thing is not acceptable.

So true! how do they expect us to be calm when they wont even comfort us by emailing us back and they deserve a lawsuit since they haven't been able to deliver and I think they could have avoided all of this if they communicated.

A forum is a public arena, it seems that here they get a better understand of who's order is what and who's order they can fulfill directly without offering up settlement options via their website. It seems that if they were to email all their clients (some in the class action) then again it would result in a problem, because again that would be settling outside of the class which the other lawyers don't seem to like.  :(  <-  Frowny face.

I am only a client of AMT, but my suggestion is to email AMT with what you'd propose as a form of settlement for your order, from the above options which I overheard while sitting in their office.

Again - my name is Mr. Swim, my order # is 333.

That's right. Companies can be silenced and it does effect/get in the way of helping to resolve the issue at hand while there is still is time to resolve the issue, rather waiting weeks and weeks for lawyers to figure out how to get nothing from a company which seems to be pretty much under water.

I also overheard that there were major manufacturer problems. That the company in Southampton Pa, IMET technologies was the one to blame. That the company was given the design from bitmine and agreed to produce the miner based on bitmine's design specifications. That IMET ordered all the boards/components  for this production and seemed to overcharge AMT out the ass and didn't act correctly. AMT being more of middle men/salesmen trusted IMET to get the job done. Later AMT found out IMET used components from unreliable vendors, and that IMET tried to collect a larger margin on quick turn board pricing by ordering over 900 boards when their production capacity was less than 30 boards per day, completely eliminating the need for 900 boards to be ordered quick turn in the beginning. Also there seems to be a problem with the board itself that IMET ordered the wrong board specifications and that's why there are several problems to this day.

Also there were other problems there from manufacturers side, and AMT seemed to be up in arms about all of it. Again this was all from a conversation I overheard while sitting in their waiting room. The conversation went on to issues about how the manufacturer is currently holding the remainder of their components that were purchased for the production, that the boards themselves have an issue with them, and that they felt there was nothing they could do because IMET kept on increasing the bill over and over trying charge them ridiculous amounts for production, and then again to fix broken boards as well. That the bill was over 270K or higher, of which the majority had been paid, but IMET kept increasing the bill despite the bad production. and the amount of broken/non working boards has passed the 250 range and they are currently being held by AMT until they can figure out another solution for them.

But overall it seems AMT hired a manufacturer located in Southampton, who ordered the wrong components and overcharged the crap out of them, it seems they are holding the remainder of their components hostage for final payment.

Again - this is hearsay - and I am client of AMT. My name is Mr. Swim, my order # is 333.

Mr Swim, From your "conversation with Jim" between the 1rst 2 choices which do you think has the best chance of being fulfilled in the most timely manner. I would probably prefer the technobit solution but am not sure AMT can pull it off at this point.

What is your opinion?

I've never posted on this forum until today.

They said they are dealing with clients on individual basis, that clients need to email them with their preference to what offer they'd like to participate in or for more information in general about the offers in general, and that they'll respond within 24 hours. I cannot recall if they are going ahead with any specific option, all of them or none of them. As a client, I can say that I hope AMT goes through with all of the above options though.

I am client of AMT, my name is Mr. Swim, order #333

Why doesn't AMT just email everyone requesting a change in their order?

The only reason I see that a company should be enjoined from presenting alternative complaint settlements to its aggrieved customers would be if there are already class-action settlement talks going on. If that is the case then first require AMT to make it clear that their proposal is different and may be less than what the class action would result in. After that it is up to us to decide how/if we can hold them to what is proposed.

Plaintiffs would probably argue that folks accepting or even considering the offers would be stealing the plaintiffs thunder so to speak. Well tough titties. If we are happy then we are happy. If we say no to the offers then we say no and nothing has changed. When the class action settlement/decision happens maybe we could have gotten more or maybe not either way that is for us to decide.

In my opinion, and I am not a lawyer, but that could interfere with settling as a class, and can some how be construed as illegal. It could also cause plaintiff's council to cause more problems for AMT's day to day operations. The best course of action would be to email AMT directly and try and discuss options with them. But I am only a client of AMT.

I am client of AMT, my name is Mr. Swim, order #333

I'm sorry why did you feel the need to open another thread? If it was just so you can have the power to moderate posts I think your actions are unjustified and very suspicious from a new account holder.

There is already this, I suggest you use it:
https://bitcointalk.org/index.php?topic=584891.0

Locking this thread.