Thank You

Blackarrow, I'm a customer.  I have a simple question.

With the compensation units. Should we purchase the compensation PSU now or wait for you to announce when you are going to ship?   The reason I ask this, is because you stated that we'd have to pay for the PSU AND Shipping of the compensation units.  So I want to know what I'm paying in total.  Just the PSU that is for sale on Black Arrow's website?  Or are you going to send an email later that asks me to buy a PSU and pay for shipping of the unit?

This needs some clear answer as to the process so we know what to expect.

Thanks

I'm glad that BA is contacting people who have this faulty mosfet.  That means future quality of the miners should improve and run steady for people.  (In theory)  Which at least allows me to think that if I ever get my X3 it won't just burn out when I plug it in.  (Hopefully)

If anyone actually gets an X3 that isn't Bobsag, do post up the news and pictures of it.  At this point it'll be like spotting a unicorn.

Thanks for the update Bob.  I appreciate it and am glad at least someone is telling us what is going on.

Oh brother, the SEC didn't even care to investigate VMC/AMC.  The State of Missouri had to do it.  This is so small potatoes the SEC isn't going to do anything.  Not that I'm calling them out, but their attention on ACTUAL SCAMS would be more warranted on various other huge issues.  This is nothing to them.  Wouldn't be worth the stamp to mail the letters.

Also, the fine is a hundred grand for selling unregistred securities.  However it's a bit of a grey area with Havelock because they are the ones doing the selling.  Though I doubt the SEC would find that compelling.  It might not be in their interest to go to court and find that a judge rules it IS compelling because it would open a big can of worms for them. 

Anyway, I wouldn't worry about it Branny.  This one dude and his arsenal of misc accounts isn't going to get the SEC motivated anymore than the thousands of other jackballs reporting things on their website.  He's just a blow hard with nothing else to do but start trouble.  He wants to feel significant.  You should just ignore him.

And NLC, when you reply to this, keep in mind I'm ignoring you and your various fake accounts.  So you should use a new one if you want me to read your sure-to-be-stupid response.  I'll then not read it and click ignore on it as well.  I don't come here to read the ravings of trolls.

Seriously though, what is the hold up?  At this point, I can't understand why more units aren't shipping. 

Bobsag said he saw all the backplanes and boards for the X3 while he was there.  So why aren't they shipping?

So it says my payment address hasn't been provided.  Do I need to give this to you?  Or does Counterparty or whatever handle that?

I think Bobsag is supposed to fill in some blanks as to the status of the X3.  So far he has said that he's seen some parts.  Take that for what it's worth.

I have this dude on ignore but I can see his messages in your quotes, and I like how you're holding a conversation with him through multiple accounts. 

Try the ignore button, it works.  He's never going to stop pounding a drum because he has some sort of vendetta against Havelock.  He's not interested in your rational explanations.  He just wants Havelock to fail and all the funds on it to go with it.

Thanks for the update Bob.

I just see visions of piles of cases, backplanes and hashboards, and a bunch of guys standing around staring at them and nobody putting them together.

You're a glass half-full kind of guy huh?  I'm pretty sure we'll be into October or even November before they are done shipping everything.  Certainly the compensation units won't be showing up until end of the year, maybe into 2015.

Black Arrow did the same thing, took an FPGA design and shrunk it into an ASIC and said the same stuff about power efficiency, shipping on time, etc.  They also had a track record of shipping products previously.

They ended up with a chip that is about half the speed at the same efficiency that they promised.  Or basically .5 watts per gh.  But each chip did half as much as they had hoped.

If the same technical issue that screwed up their simulations also impacted ST, then one can say that the efficiency could be the same but the SP30 will deliver half as much hash.   So 3th. 

Now, they could raise the power and increase the hash, lowering the efficiency, which doing some quick math would get them to maybe 4.5th at their original power specs.  5.4th is their bottom number for preorders.  So they'd be on the hook for about 1.1th.

Effectively they could give every SP30 order an SP10 as well.  That would give them an equal hash rate to what was ordered, but increase power cost.

Alternatively they could keep the efficiency, and give everyone 2 SP30's.  This would be more ideal for the customer.  Not perfect, but the power usage would be the same.  (Would require more rack space however) 

However, both of those options may be too costly for ST to deliver.  So we wait and see what happens...

These accusations are getting funny.  Since nothing is working, he's just trying for any dumb thing now.  Maybe one of his three accounts can find some evidence of Branny jaywalking.  That might hurt the share price.  Investors beware!

Posting their contact info?  Like anyone there would care.  They'll change their numbers and email addresses, only exposing some public info that goes through an automated system and screeners who are paid kids to run through it.  The people you are trying to impact, won't be impacted.  The idea that anyone will do anything is also dumb.  Like anyone is going to go drive over there and put the hurt on them.  They could go there now, it's public knowledge where it is at.  They go to all the shows.  So this plan results in nothing happening but a bunch of stupid messages blasted all over the net.  Forum mods are use to deleting garbage and we're all used to ignoring robo posts.

Huge waste of time.  They won't care.

BFL can just change their company name, and all that posting will be worthless.

You want to hurt BFL?  Stop giving them your money.

Lessons learned from Black Arrow...

1.  Do not promise anyone compensation specifics because whatever you offer now won't be good enough a week later.  Wait until you're shipping to announce compensation specifics.

2.  Expect refund requests, a lot of them.  Especially if you're late.

3.  Expect a lot of trolling.

and lastly...

4.  Continue to communicate with your customers.  This is most important.  What you promised them was a failure.  So now you need to shore up their confidence that you will do right by them.

Presentation over, there are snacks and coffee in the lobby.  Thanks for coming.

Whatever you do, don't cut the blue wire!  Ok, now cut the blue wire.

I'm sure #1 on Bob's list is "Where is my money?"

I believe the price of the PSU by itself was to cover the PSU and the shipping charges for the extra X3.  So that's why it's where it's at.  Where as Minersource is charging for the PSU for less, but then adding the shipping cost later

I could be wrong though, since everything about this ordeal is subject to change.

I'm not going to break down how economics of supply and demand work. 

If you're going to say that 1+1 = 2 and 2+0 also equals 2, great.  You win.  Your prize is 2.

Try and understand that there is a reason that all coins don't just exist with the entire supply at once.  Why not just give everyone 10 billion coins and say, "Use them!"   That reason is because they would be worthless.  They are given out as reward to miners to help strengthen the bockchain, but mainly they are given out sparingly to make them scarce so they maintain a value.

We're not saying that you should reduce them to nothing.  We're saying you're distributing them too fast to maintain the value.

Hiro is completely not stable.  It's heading very quickly to 1 Satoshi.  You do realize that folks like me were creating buy-walls to maintain the coin's value at the upper end, right?  But because Hiro has decided to vanish, we're not buying any more coins because we don't believe the coin has a future.

At this point, there are far more worthless coins in supply than there is any need to produce more.  There is no benefit to producing more coins.  Why?  It's cheaper to buy them than to mine them.  That's the death of any coin.  If I can buy it for less than what it takes to mine it, the coin is worthless.

Part of the reason is you are adding half a million A DAY to the already saturated market.  Any normal financial organization would stop printing money at that point.  They'd wait for the take-up to happen and the value to rise aka inflation.  Instead, we have a daily deflation which is unchecked and ruining the coin.

If the coin supply is slowed, (Not stopped, but slowed) the value rises because it isn't as quickly diluted.  As the value rises, more miners and people get involved with the coin because the coin is profitable.  At the same time, the coin reward is increased because more people are mining with it.  Before long you're right back to where you were before except now the coin is worth something and more people are using it.

None of it is a magic bullet.  But you guys who are saying, "Hey, don't change anything!  We are enjoying watching the coin die!  Let's wait for two years while Hiro creates a shopping cart plug-in so people will use it."   By then the coin is worth 1 Satoshi. 

At the end of the day, it's Hiro's coin.  If he wants to just leave it as is and watch it die, that's fine.  I'm not sinking any more money in it though.  It takes someone like Nakamoto to look at something like eCash and think, "How can I improve this?" and come up with Bitcoin, vs all the other people who sat around and folded their arms and just said, "This is how it is!  We do it because eCash works this way, and we aren't going to change it."   

Innovation is what is needed.  Someone is going to eventually improve the Cryptocurrency so that it's pushed forward.  Change is good.  It needs to continually get better.  Staying stagnant and copying what other people are doing may feel safe, but you'll never get ahead doing it that way.  Take risks, challenge what is being done, and move forward.  Hiro Coin doesn't need to be like every other coin, it needs to be better.  And IT CAN BE BETTER if Hiro wants it to be.  Any of these coins can be better than Bitcoin, it just takes the right vision and the effort to get it done.