I wonder if dave can even communicate anymore w/ tom ... or has tom run off? Cuz its seemin more n more like tom is runnin off.....
Dave's recent update. Hi everybody - I just wanted you to know that I'm getting your mails - but I can't personally respond to all of them in good time, so I'm posting here. I've had a major personal upset that has tied me up for two days, so I haven't done the refunds as quickly as you'd like.
Tom called me first thing in the morning to find out what the status on that was and gave me a "friendly push" to get going on them again.
Tom's sole focus is concentrating on a deal to be agreed upon Friday. He has set my sole focus to be processing the refund requests in a more timely manner.
I do need a couple days however. I *have* to be away from the comp from now until tomorrow evening, before I can get back into it. Again, my apologies to you for the delay.
For the people who've requested refunds, please hang in there - I will be processing them. Its quickest for me to fly through all the refunds and then post here for folks to check their order status. I will read all emails and respond to specific ones as necessary.
As soon as I have more news from Friday's meeting, I'll update the forum - thanks again for your patience!
EDIT: I just wanted to add that Tom sounded very upbeat and motivated to see bASIC placed in the hands of a team that can carry it forward to complete his original vision.
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Update it with the option to say you have ordered from those 3 you listed.
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I wonder how many people who don't regularly follow this forum or the btcfpga forum, have no idea about what's happening, and therefore have not asked for a refund. You know, the people who trusted the bASIC team and believed their money was in good hands? The people who would never imagine that tom might have "left town".
Law of the jungle and they are just sol? @Sitarow or any of the other bASIC team members: Will all the customers be contacted w/ the advice from the forums that they should ask for a chargeback or is it up to everyone to discover this for themselves and hope there's money left for their own refund?
You pose a reasonable question. Unfortunately my involvement in the project is from a customer perspective. I have volunteered my time to mod for the http://forum.btcfpga.com/ support forums. Friday at around 18:00 on the irc #btcfpga channel Dave mentioned that he will be processing requested refunds until the backlog has been cleared. Then like BFL did today for customers with existing pre-orders, I would expect to see an email go out updating all bASIC customers on the project status. At this time Dave is keeping us updated. On the forum located here The discussion I had with Dave lead me to conclude that an email message was what he had intended to do once he gets a handle on the refund requests. |
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This whole argument is kind of moot since people aren't getting refunds at all.
Should have received a refund last week. Requested a refund on Jan 6.
Several members of this forum have reportedly received refunds already. Been waiting for mine since Jan 6. People after me have claimed to have received them. Dave posted recently that If it says "Refund Requested" it means he submitted your BTC refund request to Tom. If you sent Dave mail prior to 1/11, and the status doesn't reflect what you expect, resend the mail. |
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In this example you will need an Amazon 19.99% CC advertisement when processing payment for items in the cart.
Here is a great example issued by the Government of Canada.
!?... As I have expected, you can NOT find an example of an INVOICE that has 2 currencies! Dude welcome to my ignore list. lol P.S when you get your cc statement foreign currency will show two currencys on it. Purchases and refunds. P.S.S In this case if you use BTC to pay down the USD amount on your invoice then bitpay acts as your credit card company. Last edit... The exchange rate fluctuates from day to day, and the exchange rate may be different on the date the refund was processed than on the original transaction date. |
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Well I like that they agreed to 'the' queue request finally  I am also looking forward to this feature. |
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Yes. Note the USD figure. Did I say that the price is only in BTC? No. What I said is that the price is in BTC as well! The BTC is in brackets because it's converted at a spot price, and not the official price of the invoice (and certainly wouldn't be legally recognised as the real price).
Those are of course your free interpretations... It is laughable that if some data in official document is unofficial if it is in brackets!? Would you show me a screenshot of a similar invoice issued by a US based vendor if you purchased a product priced ONLY in USD with your GBP credit card? I would like to see the GBP price "in brackets"?  Their are ways to save when paying with foreign currency for items priced in USD. The exchange rate fluctuations effect both for the purchase and the refunds. In this example you will need an Amazon 19.99% CC advertisement when processing payment for items in the cart. Here is a great example issued by the Government of Canada. http://www.fcac-acfc.gc.ca/eng/resources/publications/paymentoptions/ccfees/ccfees-4-eng.asp Note at the bottom of the page ****** Returning goods purchased outside Canada If you decide to return merchandise purchased in a foreign currency and get a refund from the merchant, the dollar amount of your refund may be different from the amount of the original transaction on your credit card statement. The exchange rate fluctuates from day to day, and the exchange rate may be different on the date the refund was processed than on the original transaction date. |
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I'm seeing only USD prices. I'm seeing BTC price as well. If I didn't see such a price how would I know how much BTC I had to pay YOUR COMPANY? Any BTC price is clearly generated based on current market rates. Market rates? As defined by BitPay? Okay, then I'll contact BitPay for such a refund! I don't care which company will refund my bitcoin payment. Like BFL, and Avalon, BTCFPGA and bitcoinasic.com have included options to pay in USD and BTC. If you used a CC from a Canadian or Euro institution, then expect to have that CAD converted to USD in order to pay the invoice in full. The same goes for BTC. During your order the BTC going rate is converted to USD in order to pay the invoice in full. As a customer your responsibility is to pay the USD value on the invoice. As a merchant your responsibility is to supply the product or refund the customer for the full value on the invoice for said currency, USD in this case. That works for even Walmart, Cosco, and Amazon. |
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What email address are people using to contact Dave?
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That's the default assumption for any site/sale that only shows prices in USD. No. If there is a statement that they accept payment in bitcoins and they quote a price in bitcoins! If customers select the bitcoin payment option then they are offered a price in bitcoins. So, in case of a refund they must get back the same amount in bitcon they have originally paid. -Product was paid for with BTC. -BTC were not converted to fiat and keep in one wallet. -Refunds for those who paid with BTC are now getting lesser BTC back. -Somebody is doing the calculations. -Who? and Why? If I were to start some fictitious entity that sold pre-orders for some product, and accepted and amassed Bitcoin, with the hope of bitcoins to increase in value, this is the way I would do it. After a period of time, whether the price goes up or down, I fold. If it goes down, I'm out very little and time when I return all bitcoins. If it goes up, I return the dollar amount, thus pocketing the profit. In this case, it's averaging about a 20% return, on how many bitcoins? The CC charges will be handled separately or I wouldn't have accepted any. If I operate as a crock, not only do I get to keep the 20% profit, but I would also not pay back all the vendors and play catch-me-if-you-can. Why would you accept CC payments if your intent was to "Game" the potential future value of BTC? If you were to start? Your idea's are speculation and based on supposition. Hindsight bias, also known as the knew-it-all-along effect or creeping determinism, is the inclination to see events that have already occurred as being more predictable than they were before they took place. Source |
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So I've noticed something about the flow of the BTC refunds that did show up, which makes me think that the funds were never in fact converted to USD. This is irrelevant. The price of the product (to buyers, and on the material end) is USD. If Tom or BTCFPGA decided to take the risk of keeping the income in Bitcoin, that risk - and any potential gains/losses - is his. Agreed. When you make a purchase denominated in US dollars, it is the equivalent of selling your bitcoins for USD on the spot and then paying those dollars to the vendor. Unlike what some people on these forums believe, the price of BTC is not guaranteed to go up. Imagine the shitstorm that would occur if BTC had fallen against the dollar and then Tom refunded people their exact BTC payments. made it perfectly clear that when we placed our order it would be as if we were selling our BTC for USD at the price that the order was placed. |
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Good guy eleuthria. I'm glad I'm mining for BTCGuild Same |
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If we are using the proxy what server should we use?
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mr. M who?
Mr. Manipulator If you believe Mr. M exists and is directly responsible for the price volatility, then don't forget to leave out milk and a plate of cookies. **** Spoiler **** **** You have been warned **** Of course the past months volatility may be better attributed to a form of cosmic background trading that is directly correlated to the adoption of BTC. One can attribute the fluctuation of price of Bitcoin to the rational argument that speculators struggle to balance greed and fear, supply vs demand and other unknown variables. |
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Some people have invested in more then 1, 2, or even 3 asic projects.
Then they'll just have to argue with themselves.  |
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Block diagrams...lol. They're supposed to be almost done, and they're giving out a block diagram as proof that work is coming along.
I really hope that Avalon has to announce a delay, just so we can see an absolute trolling shitstorm as every fanboy of every company starts going completely batshit insane on each other.
Some people have invested in more then 1, 2, or even 3 asic projects. |
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Did you know almost every gold bug would laugh at everyone here for putting their USD into something as stupid as bitcoin instead
of buying physical gold?
Bringing up gold to compare to bitcoin is the most retarded thing I have ever heard.
At this moment bitcoin's p2p digital currency is a fast and most secure way of transferring wealth. You will see how difficult it can be to travel with physical gold. |
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We've temporarily stopped PPS bonuses because our accounting is already going to be challenging with the Loyalty Point bonuses. We'll look at using these again once things calm down again.
In other good news, our HPC client is getting really close! Our devs are working late tonight and we think we'll have our first stable build tonight. If all goes well, after a bit of internal testing, we're optimistic we'll be able to release the first version to you next week.
Looking forward to getting Nvidia's back up and running. |
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1 person cashing out affects the bitcoin price so much. I dream of a day where bitcoin doesn't have to be concerned about this.
Fact is the market can be primed to meet the agenda of any organization/individual with a large store of USD/BTC. This opens the possibility to play on the fears of investors/speculators, lowering the price/value of btc, and then buying in at a discounted rate. Value of BTC down? Reward of BTC for work done down? Followed by Network Speed Down? This is probably the only time in recent Bitcoin project history that can be truly said. A prudent miner will be buying up half of what they would have made if their was no reward drop. This will permit them in their transition to ASIC and other projects with existing hardware. A few hours from now, we will have passed the capitulation point. This will influence views similar to what the poster has observed in the polar opposite direction. |
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