Bitcoin Forum

It looks great, But I don't trust pre orders anymore. The only way I would buy one of these is through a group buy, Rather share the risk incase it arrives late.

I just read their announcement in www.zeusminer.com. They announced that they had pre-order promotions before and so far they have delivered its Scrypt miners to about 70 countries worldwide. It seems that this company will keep their words.

Oh they deliver.  They consistently deliver under-spec'd and over the power consumption figures by almost 3x, but they deliver.

I expect the same spec slashing here, with no refunds.

Oh they deliver.  They consistently deliver under-spec'd and over the power consumption figures by almost 3x, but they deliver.

I expect the same spec slashing here, with no refunds.

$1600 is not something you want to spend now and wait for several months. i'm wondering if they have smaller hash power with lower price coming sooner. say 100Mh?

what's the likely hood that this will ROI? Litecoin may be out of the question come Jan but what about mining and dumping shitcoins? :P

Is there any way to calculate the difficulties?  Would be grateful if anyone recommend a website link for me.

A VOLCANIC ERUPTION
 
As you all know, we always listen to our community and every morning our customer service delivers daily updates directly to Terry’s desk (who barely is in his chair, but mostly busy running around in our now vast facility)

Customer service has not only received a few but many messages about our upcoming Volcano. As ZeusHash has been such an overwhelming success many of you asked us if it is possible change their Volcano Pre-orders for December into ZeusHash mining power now.

We have already completed the first phase of the new powerful chip design and are ready for the next step when your words have reached us.
We understand your wish but want to explain you that it is not easy and brings us in a difficult position. If we fulfill your wishes then substantial funds set aside for the Volcano development will be transferred over to ZeusHash. True, this would allow us to put more power behind the future development of ZeusHash and open up the possibility to implement a lot of new functions but this decision would also mean that we cannot continue the production of the Volcano at the same time.

Please understand that it is not an easy decision and Terry is constantly debating with our whole team the pro and cons of such a big decision for Zeus. We never had expected the success of ZeusHash and the wish of many Volcano customers to become part of it.

We will do our best to listen to our customers, but please give us more time to make such an important decision. Sara, our customer service head has been assigned to handle all of your input so that we can reach a decision of the future of the Volcano very soon.

This is Terry and I am the CEO of ZeusMiner. I am writing to you because you have placed a pre-order for a Volcano or GEN III blade products with our company.
 
I would personally like to thank you for your trust in us but also have an important matter that I want to discuss with you today.
 
When we have announced the pre-orders in September a lot of customers like you, have used this chance and placed an order for our Volcano/GEN III Batch 1 for December delivery. A month later ZeusHash, our cloud-hashing platform went online and we were amazed by its instant success with over 12,000 customers signing up in less than a month.
 
Since that time our customer service has received a lot of messages from Volcano pre-order customers - you might have been one of them - who asked us if it is not possible to change their pre-orders for December into a ZeusHash Cloud-hashing with instant BTC/LTC mining.
 
We took time to think about this possibility carefully, and as more and more similar requests were coming in we even hired an outside analyst team to support us in this difficult decision for our company.
 
The main reasons Volcano customers,who wanted to change to ZeusHash and start mining coins immediately,stated, were their growing concerns about the constantly low LTC and BTC price and the coin difficulty climbing sharply. As every investment is about ROI, we completely understand and agree to their concerns.
 
The analysts estimated that the moment we would allow the switch from Volcano to ZeusHash over 80% of the Volcano pre-order customers would take advantage of this possibility. But this would mean for us that it would be impossible to continue the production of the Volcano because of the low production volume.
 
From the moment we have received the first pre-order payment for a Volcano we have set aside this money in secured accounts in the same way we have received it (USD, BTC, LTC) and have used our own funds to finance the R&D of the Volcano.
 
For ZeusMiner the most important factor was always to listen to the community and work together with it to build up a strong and powerful Scrypt mining industry. Flexibility is a vital factor and we have realized that at this point we have to make a decision, either to listen to what the majority of our Volcano customers wants even it means that we have to accept that the money we put already into R&D will be lost or to continue to produce the Volcano.
 
We have stuck to our main principle to always put customers first and I as CEO of ZeusMiner have decided to halt the production of the Volcano and GEN III chip blades.
 
We have worked out two solutions that we think both will benefit you
 
Transfer your Volcano pre-order to ZeusHash for instant hashing. You will receive an extra 10% discount on top of the already extremely low Halloween Special promotion
Refund of the FULL amount including shipping costs in exactly the same way we have received funds from you (USD, BTC or LTC)
PLUS
If you have ordered at least 1 Volcano we will put FREE 10 GHS into your ZeusHash account
If you have ordered GEN III blades, you will receive FREE 5 GHS into your ZeusHash account
 
You may click HERE to let us know your decision. Log in with your account in ZeusMiner. (If it is your first time at ZeusHash, please try to log in with your Email and Password at ZeusMiner).
 
If you have purchased through one of our distributors, please be so kind and contact them for conversion/refund.
 
It has been a very difficult decision for us to make and we didn't take it lightly, but we feel that this decision reflects what the community wanted from us.
 
I apologize to you for having to make this decision and thank you for your support. If you have any questions, comments or anything to tell me directly, please send me a message to my personal email terry@zeusminer.com
 
With Best Regards
 
ZeusMiner CEO
Terry Li
 

They did it...  The cancelled the Volcano run.   Just received this.   And they'll generously pay back in BTC, which has dropped over a $140 a coin since they started the pre-order, which will add up to a $500 hit for me.

Yeah this is rubbish. I am lucky I only ordered a $50 upgrade board. There is no way to prove that most people would prefer cloud hashing over the actual hardware they paid out for. If they wanted that then they would have bought it from somewhere else instead of sitting around while difficulty raises. Lesson learned I suppose, won't be buying anything from this company again.

How about we take over production as a community. If they were almost ready to ship then I imagine it wouldn't take much more to complete the project.

Zeus should "give" the community the ability to produce these miners on their own. Release the schematics for the chip/board design. I could take that and maybe call upon some of my old contact in the IC manufacturing world.

Better yet put us in touch with your manufacturing contacts so we can fund and continue the project.

(used to be part owner of a memory manufacturing company back when it was incredibly lucrative...luckily sold it before the floor dropped out of the market)

I got an email from MinerEU where I made my preorder and had a look at what ZeusHash cloud mining they were offering and the maintenance fees are such a ripoff. To the credit of MinerEU though, they seem quite happy to refund me the full amount instead.

Do you have your refund from minereu or not yet? (i'm in the same case)

Still no refund from MinerEU. They originally said "by next week" so I emailed to ask if it would be by midnight Sunday but now they say it will be "asap this week"  ::)

Hum,

They said to me, that's they need to be refund by zeus before refund us

I send a message to zeusminer, and they answer to me that they refund minereu today.

Anyone getting refund? I just think they are playing with us. I just hope Iam wrong.

Anyone getting refund? I just think they are playing with us. I just hope Iam wrong.

Hi,

Sorry about all these.

We would like to refund to you by tomorrow morning.

Thank you.

Latest message I just received from minereu:


We shall see...

Finally got my refund this morning, they sent me the $ equivalent in todays BTC price so I didn't lose out. I hope they do the same for those of you that made large orders.

Guys what are you looking at for alternatives. I really wanted the higher hash, lower elctric consumption. I emailed bitmain about their L1 scrypt miner, and they said, sold out, and will NOT make any more. So, what are our choices for 100+ mhs scrypt asic with around 500w power draw?

Vegas

Do you really believe, any manufacturer will sell a miner with higher hashrate and lower power consumption to the retail market? The decision from Zeus clearly shows that they all will go this way. Selling their miners to cloud mining companies or even starting their own one. Much more profit with less hassel than selling single pieces to single customers. That's the ways it will go.

Yeah Zeus have made their intentions clear with this latest move. It's much easier to try and rope people into their cloud service and keep control of the hardware chain themselves. Customers absorb all the costs of maintenance and they don't have to deal with individuals RMAing units etc.

I will say that I found their customer service o be very good. I had a bad board in a 28 MH unit I purchased from them and they shipped me two replacement boards - that was nice. so now I have a spare (with heat sink) !

Yeah Zeus have made their intentions clear with this latest move. It's much easier to try and rope people into their cloud service and keep control of the hardware chain themselves. Customers absorb all the costs of maintenance and they don't have to deal with individuals RMAing units etc.

+1

And even when BTC price raises to it makes really profit for customers, they all (not only Zeus) can raise the maintenance fee, telling for increased costs, no that they still make >50-60% profit.

I was a great fan of zeus, so much so, I have 10 of their thunder X6 units. So excited to get their gen III board until they got cancelled. They can kiss my ass. Im not cloud mining with them or anyone else.

Guys what are you looking at for alternatives. I really wanted the higher hash, lower elctric consumption. I emailed bitmain about their L1 scrypt miner, and they said, sold out, and will NOT make any more. So, what are our choices for 100+ mhs scrypt asic with around 500w power draw?

Vegas

Try take a look at Viper: https://alpha-t.net/shop/ (https://alpha-t.net/shop/)