Saved for posterity.... Some events happened last week, that have forced us to make a decision to go out of business. A lot of issues compounded to press us to do this. The failure of the Klondike project was one. Chase, our bank, shut down our accounts. Also the delay in the shipment of the chips has resulted in a lot of customers asking for refund. We already owe a lot of money to PayPal, and with all the refund requests, it is impossible for us to continue our operation profitably. So we have decided to dissolve the company.
We are going to ask for a refund from Yifu. As soon as we get a refund from him, we will start refunding all the orders. We will be able to refund about 50% of every order with this amount. We are trying to get our money out of Chase, which will help us refund another ~5% of each order. We are trying to return as many components as we can, and as soon as we get more money back, we will send additional pro-rated payments to each order.
Once we get a refund from Yifu, we will be sending an email to everyone asking for a current Bitcoin address where to send the payments.
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I have 2 boards with 16 chip each hashing at 350 MHz. The hardware error rate is high and we are working to solve that issue. We believe it to be SW related. There is a group of 6 or 8 of us working on this.
By chance is Terrahash one of the ppl you are working with? Not unless they are using an alternate name. Fyi, Some of the TerraHash customers are banding together for a lawsuit, any information or PM's that you feel may help would be appreciated. |
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Hi all,
I need some help!
I live in Europe and paid my order with Paypal. 45 days for opening a dispute are gone.
What can i do for a refund? I can't have a lawyer in the US...
Any suggestions?
Thank you!
There is a thread going around on how to get a refund for BFL that some are saying works. I will see if i can dig it up for you. Edit: complete thoughts..... Need.... More..... Coffee... People are suggesting that this should also work for TerraHash. |
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Burnside, would you say the same for any of your issuers? Or are they out of harm's way?
Thanks for your posts and transparency.
I don't know, but anyone involved in unregistered securities in the US should probably seek legal advice. I personally have relatively little to compensate them with. (as mentioned in the last financial report, I have been funneling personal funds back to the company for legal fees) So it is not you who placed the 1000 shares @ 25 LTC Bid? And I guess you are in big trouble since you don't get a refund for the 100k retainer and can't sell the script. The 500 @ 20 is me. I'm using personal proceeds, mostly from the closing of LTC-ATF. I'll bump it up to the full outstanding share count soon. I did not want to announce it until I could offer it to the remaining 450 shares outstanding. (Yes, I am committing to buy out anyone who wants it now at 20 LTC.) Please keep in mind that there are still potential assets. I say potential because we have a lot of hurdles to clear to be able to sell them. What those assets will end up being worth and whether or not we will be able to sell them is currently unknown. Cheers. Edit/Add: Because it's my personal funds, I can only keep the offer up until trading stops on the 7th. BTC Trading Corp cannot execute any buyback or distribution until all outstanding expenses (primarily legal fees) have been covered. Sorry to hear you are in such a mess, hope everything works out ok. |
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So.., TH never sent the working board to the person who sent them his chips, right?
That is correct, the user was hchc fyi. |
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I thought you had gotten a full refund already?
I'm honestly lost with you, you don't read, you ask questions just to set me up for rhetoric that you were already going to state regardless of my answers and you seemingly would rather people not get a refund just because you have some sort of vendetta against me. This is very tiresome. Here's my last quote on this matter (It was even in the thread that you STARTED) As far as wire transfers go, you can get a refund if the money is still "Floating" in the bank of who you sent it to. Your bank will call theirs and find out. If it isn't "Floating" and is in the persons account, your bank will call their bank and request for the money to be returned at this point their bank contacts them for an "Approval" to return the funds.
If no such approval is made then you will have to use legal action.
I personally have slightly more recourse with my bank but I would end up getting more money back with legal action plus maybe it will wake Terrahash up.
Please be blunt with me, I don't want to waste anymore time playing your questions game, what are you trying to get at? I honestly thought I remember reading that you had received a full refund, mistakes happen. As for a vendetta against you? No, usually I attack your arguments, sometimes I do cross the line, and for that I do apologize. I don't hate you nor dislike you, I appreciate the banter, having said that I do think that you are due for a few more life lessons. Regarding refunds, What have I been espousing since June, your the one thats been calling us dipshits and trolls for even considering refunds, and of course I want everybody to get their refunds including you, it's TerraHash that does not deserve to be a part of this. |
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One of the hardest things i would ask the lawyer about bitcoins. Might want to see if they really want to combine bitcoin orders and other orders in one lawsuit. I think the bitcoin one might be harder to get a judge to understand, really want to see what they think if it gets to point of lawsuit. Money will be easier.
A lot of people are asking this question in PMs, Basically from my understand it doesn't matter if you pay someone in gold/euro/chickens, they advertised a price (Let's use the fully populated DX-Large as an example) $10,500. We would essentially sue them for $10,500 and not for "Bitcoins". Obviously I would bring this issue up to the lawyer and get their opinion about it but if it comes down to trying to get BTC back from Terrahash I might not be able to have them join in the lawsuit. This will obviously be one of the first questions once a fully established counsel is chosen so I'll let everyone know when I do. gold/euro/chickens all have value. I know chickens were meant as a joke but still laws on books about them. Bitcoin is not a official currency in US, and since virtual will be interesting to see how it goes. Are you hiring a lawyer who specializes in anything, or law firm with multiple? What type of lawyer accepted the case? I am in the preliminary stages with the lawyer, we talked for about 35 minutes last night regarding this case and he's asked for additional information which I have sent. I have not retained anyone currently but we both seem to agree that this case is fairly simple for those involved with USD payments. I've been advised that trying to sue for BTC payments will add a very complicated layer to the case but I have also sent them are the information regarding that court case where they mentioned BTC as a currency. I really don't want to talk much about anything else until I have a lawyer on retainer and after I send all of the individuals that PM'd me a message. At that time I will likely open up another thread (What Forum Topic should I use to post it in? Scam Accusations?) It turns out that International Payments are not very hard to include in the lawsuit, I've also been advised that this will likely NOT fit under a class action so those that do not contact me and are not involved will not see any benefit from the outcome of this case if it goes that far. For what it's worth, I've also been advised that I would likely have a higher success rate if I did this alone than with Co-Plaintiffs due to them only needing to pay my money back versus multiple people but I made it clear that this is not an option for me at this point and anyone that I can include in this will be able to join. |
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One of the hardest things i would ask the lawyer about bitcoins. Might want to see if they really want to combine bitcoin orders and other orders in one lawsuit. I think the bitcoin one might be harder to get a judge to understand, really want to see what they think if it gets to point of lawsuit. Money will be easier.
A lot of people are asking this question in PMs, Basically from my understand it doesn't matter if you pay someone in gold/euro/chickens, they advertised a price (Let's use the fully populated DX-Large as an example) $10,500. We would essentially sue them for $10,500 and not for "Bitcoins". Obviously I would bring this issue up to the lawyer and get their opinion about it but if it comes down to trying to get BTC back from Terrahash I might not be able to have them join in the lawsuit. This will obviously be one of the first questions once a fully established counsel is chosen so I'll let everyone know when I do. gold/euro/chickens all have value. I know chickens were meant as a joke but still laws on books about them. Bitcoin is not a official currency in US, and since virtual will be interesting to see how it goes. Are you hiring a lawyer who specializes in anything, or law firm with multiple? What type of lawyer accepted the case? I am in the preliminary stages with the lawyer, we talked for about 35 minutes last night regarding this case and he's asked for additional information which I have sent. I have not retained anyone currently but we both seem to agree that this case is fairly simple for those involved with USD payments. I've been advised that trying to sue for BTC payments will add a very complicated layer to the case but I have also sent them are the information regarding that court case where they mentioned BTC as a currency. I really don't want to talk much about anything else until I have a lawyer on retainer and after I send all of the individuals that PM'd me a message. At that time I will likely open up another thread (What Forum Topic should I use to post it in? Scam Accusations?) It turns out that International Payments are not very hard to include in the lawsuit, I've also been advised that this will likely NOT fit under a class action so those that do not contact me and are not involved will not see any benefit from the outcome of this case if it goes that far. For what it's worth, I've also been advised that I would likely have a higher success rate if I did this alone than with Co-Plaintiffs due to them only needing to pay my money back versus multiple people but I made it clear that this is not an option for me at this point and anyone that I can include in this will be able to join. |
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One of the hardest things i would ask the lawyer about bitcoins. Might want to see if they really want to combine bitcoin orders and other orders in one lawsuit. I think the bitcoin one might be harder to get a judge to understand, really want to see what they think if it gets to point of lawsuit. Money will be easier.
A lot of people are asking this question in PMs, Basically from my understand it doesn't matter if you pay someone in gold/euro/chickens, they advertised a price (Let's use the fully populated DX-Large as an example) $10,500. We would essentially sue them for $10,500 and not for "Bitcoins". Obviously I would bring this issue up to the lawyer and get their opinion about it but if it comes down to trying to get BTC back from Terrahash I might not be able to have them join in the lawsuit. This will obviously be one of the first questions once a fully established counsel is chosen so I'll let everyone know when I do. gold/euro/chickens all have value. I know chickens were meant as a joke but still laws on books about them. Bitcoin is not a official currency in US, and since virtual will be interesting to see how it goes. Are you hiring a lawyer who specializes in anything, or law firm with multiple? What type of lawyer accepted the case? I am in the preliminary stages with the lawyer, we talked for about 35 minutes last night regarding this case and he's asked for additional information which I have sent. I have not retained anyone currently but we both seem to agree that this case is fairly simple for those involved with USD payments. I've been advised that trying to sue for BTC payments will add a very complicated layer to the case but I have also sent them are the information regarding that court case where they mentioned BTC as a currency. I really don't want to talk much about anything else until I have a lawyer on retainer and after I send all of the individuals that PM'd me a message. At that time I will likely open up another thread (What Forum Topic should I use to post it in? Scam Accusations?) It turns out that International Payments are not very hard to include in the lawsuit, I've also been advised that this will likely NOT fit under a class action so those that do not contact me and are not involved will not see any benefit from the outcome of this case if it goes that far. For what it's worth, I've also been advised that I would likely have a higher success rate if I did this alone than with Co-Plaintiffs due to them only needing to pay my money back versus multiple people but I made it clear that this is not an option for me at this point and anyone that I can include in this will be able to join. I thought you had gotten a full refund already? |
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I've got 0.002BTC on there, anyway to get it out?
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I tried withdrawing my funds, msg says trading halted.
Did you add the "public bitcoin address" yet? Thanks, thought that was for transfers only. |
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I tried withdrawing my funds, msg says trading halted.
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I for one hope it doesn't come down to that but again if by the end of the week we don't hear from Terrahash it will put into motion. Timer removed. End time: 2013-09-27+24:00:00EDT For all concerned please post the info of your lawyer, so that we may independently vet them ourselves. I am still in talks with them to see if they want to take the case. All information will be posted if an agreement is made. I have no intention of hiding any of this information. Just to clarify, regardless of if this particular Lawyer takes the case or not, one will be found as fast I can possibly find one that I feel comfortable with however as I said I'm giving them to the end of this week knowing full well that organization is being made to bring a lawsuit against them. What experience do you have in vetting lawyers? Have you ever been in court? If so in what capacity? Why should customers trust you to find them the best legal counsel, especially considering the gigantic flip flop that you have performed in the last week or so? How do we know that you are not a TerraHash or Amir or Justin shill account? I guess I can answer some of these, I have been in two lawsuits that I have started but have never had to appear in court as they were finalized prior to having to do that. Vetting is very opinionated so I'm not sure what kind of answer you are looking for. I'm obviously going to look for a lawyer that I feel (opinion) is going to the best job for me. As for your "Why should customers trust you to find them the best legal counsel", that's completely up to them. I'm paying for the legal counsel myself and they have every right to go and find a lawyer themselves. I don't believe there has ever been a flip flop, I've always stated unless Terrahash proves otherwise they are a decent company, well it turns out they have been proved otherwise by their own actions (Not the words of Internet Trolls) and I acted accordingly. How do we know that you are not a TerraHash or Amir or Justin shill account? I'm not even sure how to answer this one, I guess anyone that thinks this takes off their tinfoil hat they will see it for themselves. Other than that I have talked with various people on this forum on the phone and met a few in California. But in all seriousness, I'm not interested in helping out anyone that has this kind of mindset so I guess it really doesn't matter. It is my opinion that you should NOT follow bar's advice regarding this or any lawsuit, I cant quite put my finger on it but this smacks of something very fishy. I am not saying dont sue and I am not saying to sue, I am saying do your own due dilligence and come to your own conclusions. |
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I for one hope it doesn't come down to that but again if by the end of the week we don't hear from Terrahash it will put into motion. Timer removed. End time: 2013-09-27+24:00:00EDT For all concerned please post the info of your lawyer, so that we may independently vet them ourselves. I am still in talks with them to see if they want to take the case. All information will be posted if an agreement is made. I have no intention of hiding any of this information. Just to clarify, regardless of if this particular Lawyer takes the case or not, one will be found as fast I can possibly find one that I feel comfortable with however as I said I'm giving them to the end of this week knowing full well that organization is being made to bring a lawsuit against them. What experience do you have in vetting lawyers? Have you ever been in court? If so in what capacity? Why should customers trust you to find them the best legal counsel, especially considering the gigantic flip flop that you have performed in the last week or so? How do we know that you are not a TerraHash or Amir or Justin shill account? |
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I for one hope it doesn't come down to that but again if by the end of the week we don't hear from Terrahash it will put into motion. Timer removed. End time: 2013-09-27+24:00:00EDT For all concerned please post the info of your lawyer, so that we may independently vet them ourselves. |
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So did the working prototype ever surface?
K16 yes but scaling to K64 had issues I think. They never showed a properly hashing k16. |
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Most of you know that we have successfully assembled a K16 (Klondike design by BkkCoins) and are one of the first to get it mining (video below). Our design is based on BkkCoin's Klondike board. He has finalized the design and it is ready for production.
This has been shown to be false, you do not have a working board, BKKCoins has vanished before finalizing his design along with you vanishing with 100's of thousands in btc and bank wires. |
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I have been trying to get a refund for weeks now. They don't answer their tickets or my calls. Ever? What the f**k? What can I do?
how did you pay? Wire transfer. I may be wrong but as far as i know you cannot reverse those. If I was in your position, I would call your states AG, and CA's AG and call your bank to at least document the issue with them. It looks like your only recourse at this point is to sue them, either individually or by class action with Bar's lawsuit against TerraHash. |
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This looks inevitable, now that 100's of people have potentially agreed to a lawsuit!
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Terrahash, Amir, Justin,
Will you be refunding people in full before you take new pre-orders?
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