This has nothing to do with the end of bitcoin, but about things that are going to cause problems for the regular investor. I have been thinking about this for a while. Before starting, I assume the price of bitcoins has been lifted due to speculation.
First, the people selling asic machines in return for bitcoins are going to destroy bitcoins for a period of time. Think as a seller. You sell a bunch of miners for bitcoins and let the people attempt to reap the rewards of mining. Once price rises enough, you sell out and reap the benefits before miners can. What perpetuates the price rising is early adopters who spread word of their earnings bringing in more people who want to get rich. In order to sustain the price and continue rising, you need more people to invest in the currency and believe in it. once influx of people come, this is where as a seller of machine i'd sell out or the next big wave.
It is the greed in which people want to earn money that will make this system fall faster because everyone will invest in miners and coins and watch them rise. Which it will, no doubt, but at who's expense? You and me the regular investor. It's the same in stocks or our own market. Remember this - when everyone believes they can make lots of money, that is when you get worried. All it takes is one bomb (mass sell off) to start and then rest of the disaster starts. As many investors tell you - MANAGE YOUR RISK.
Spoken like a true investor. The thing is "Bitcoin" is just using you (the greedy investors) as a stepping stone. Remember Bitcoin wants to be more then just an investment opportunity like stocks. It want to become an actual currency that people use. To do that it needs a certain amount of backing to be a viable form of currency. This is where the greed of the foolish comes in. Yes you can make your investment and cash in your reward but by using you Bitcoin can become and established currency not prone to your average investment predictions. Edit: Also.. yeah... I do not think the companies making the miners have that elaborate scheme planned. That is just far fetched. Good point. I guess its not a plan scam us, but more a plan to protect themselves. I think Avalon has tons of bitcoins somewhere in the 50,000+ range. Some other smaller companies as well. I think one thing they've managed to do is play smart with cashing out. But in order to protect themselves, they will likely sell out on the next peak especially since AValon pulled a huge amount of Bitcoins sellign chips. |
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You might want to consider escrow via John K or other senior board members.
Shouldn't you be telling everyone that Terrahash is a scam and these boards will never be delivered?? Hmmmmmmmmm? I doubt a company opening their doors to soldering chips on boards and sending them to you for a price is going to rip you off. If they are willing to do that I have confidence they'll deliver devices when they receive avalon chips. You have no basis for your scam claim. |
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This has nothing to do with the end of bitcoin, but about things that are going to cause problems for the regular investor. I have been thinking about this for a while. Before starting, I assume the price of bitcoins has been lifted due to speculation.
First, the people selling asic machines in return for bitcoins are going to destroy bitcoins for a period of time. Think as a seller. You sell a bunch of miners for bitcoins and let the people attempt to reap the rewards of mining. Once price rises enough, you sell out and reap the benefits before miners can. What perpetuates the price rising is early adopters who spread word of their earnings bringing in more people who want to get rich. In order to sustain the price and continue rising, you need more people to invest in the currency and believe in it. once influx of people come, this is where as a seller of machine i'd sell out or the next big wave.
It is the greed in which people want to earn money that will make this system fall faster because everyone will invest in miners and coins and watch them rise. Which it will, no doubt, but at who's expense? You and me the regular investor. It's the same in stocks or our own market. Remember this - when everyone believes they can make lots of money, that is when you get worried. All it takes is one bomb (mass sell off) to start and then rest of the disaster starts. As many investors tell you - MANAGE YOUR RISK.
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I didn't realize the price of BTC has increased greatly. What is your set rate in USD? the price is +$2000 and more than terrahash pricing.
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I see you guys lowered the price! Its much more competitive, and hopefully you'll net more sales.
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If you sold them 90-100 BTC you'd sell out and its a bit higher than some other places.
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Issue with PayPal has been resolved. We have access to the funds now.
About the refund policy, it was changed way before the orders were taken. We believe most of the refund claims being made now are because of the falling USD/BTC prices. The "item not received" claims being made on PayPal are deceiving and misleading, as everyone who placed an order knew that products would be delivered within two weeks of the delivery of the Avalon chips. This was also written on individual product pages. Some people are abusing the PayPal refund process by making false claims. Any how, we will be refunding all those orders now as a few people have showed interest in buying those cancelled orders. However, we are doing this as an exception and our refund policy is still the same.
We again stress that everything is going on-track, and we will deliver all the orders within the promised time-frame.
Did u guys get the video up yet? |
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Just got back from the dentist and look what the friendly folks at TerraHash left for me.  How could they invest the money if PayPal froze their account? Has that been proven? They said their account was frozen but they have mis-represented other stuff too. now that he's alive send a reply and say video is late. |
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is it me or is no one on the servers? I see zero everywhere on each of the different pays.
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Obviously some here have exhausted that avenue with Terrahash. I think they are overwhelmed and getting on with other more important bits. In any case someone needs to visit them in person unannounced this week.
Who here can do that??
Well said! This has been offered up a few times already. I'm a 24 hr drive away, or I'd have my ass down there pronto. I will offer up money to help offset reasonable travel expenses. I think it would be fair to ask for video of front of TH's office and some video of inside office. That would go to tremendous lengths to put people's concerns to rest. bearsworth, you said you're a couple of hours drive away. Would you entertain this if we help offset expenses? I know other posters had concerns about who would be our "person on the ground" so to speak. How do we agree on that issue? I guess I could give it a go... lol. But i really don't care to do it. I'll go if I'm paid however but it depends. |
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Look they aren't based somewhere remote in the middle of nowhere, they are in California and have a supposedly open door ffs, the only thing stopping this nonsense from escalating further is someone getting of their lazy ass and doing some detective work.
Cloudhashing claimed to have an office in London and put up a big red arrow stating 'our office' in the heart of Farringdon. Hilarious, I called him on his BS as I worked practically opposite that very building. He changed his contact page very quickly afterward and still has the front to push his scam.
This Terrahash uncertainty however could be wrapped up tomorrow if one of you went and checked them out in one of the most populated cities in the US!
I mean, wow, how many people were claiming it was just down the road, so easy to keep tabs on originally prior to ordering? I remember seeing more than a couple of posters here...
I agree, if only I lived close to their but I've since moved and its a couple hour drive lol. |
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Scammers are scammers, they are suppose to pose as legit before the upset. I'm not saying they are scammers I'm saying look around BFL and others. "Ohh they didn't keep all my money" doesn't make them not scammers. Scams are made to pull the most money out the quickest way possible and if they can keep face while doing it they will. See yeah when your holding the bag and crying on bitcoinscammers.comHow about waiting another month please. It's too early to tell. Most people are just going crazy from no response. It's way more then no response, please do some research on what has transpired. I've been following the thread for a while. I would say you are really over reacting and others have probably pointed that out to you. |
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Scammers are scammers, they are suppose to pose as legit before the upset. I'm not saying they are scammers I'm saying look around BFL and others. "Ohh they didn't keep all my money" doesn't make them not scammers. Scams are made to pull the most money out the quickest way possible and if they can keep face while doing it they will. See yeah when your holding the bag and crying on bitcoinscammers.comHow about waiting another month please. It's too early to tell. Most people are just going crazy from no response. |
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I ordered some mini -dx so i'm not sure the k64's fit into that case. Maybe they can be seperated heck, but i didn't want to risk it.
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Just ordered additional 20,000 chips from Avalon. Orders that would not be covered by the first batch, would certainly be covered by these chips.
BitSyncom is going to get the chips produced in bulk from the foundry. We believe that all the orders will be shipped by Avalon in close proximity to each other. So, hopefully, the chips ordered today will be shipped at most a week or two after the ships we ordered on May 10 and 16. In that case, our batch 2 orders will start shipping at most 2 weeks after the batch 1.
This is clearly not what we discussed. Terrahash contact us ASAP. GO HOME, SCAMMERS. Terrahash opened for pre-orders despite promising not to take a cent up until they have units in stock. Their hand was forced because 10,000, of their 20,000 chip order (paid for) was for an order agreed by Cloud Hashing! Cloud Hashing jump ship after KnC are proved more legitimate than assumed, and demand their $80,000 back from Terrahash. The order was $105,000 in value, but $80k was needed up front to secure the chips from Avalon that Terrahash went and did. This left Terrahash $80k out of pocket despite securing premises to assemble and further parts etc. for Cloud Hashing's order. This forced Terrahash to demand pre-orders, something they promised not to, but had to or face bankruptcy before starting forced upon them by Cloud Hashing. The community saved Terrahash because Cloud Hashing has no integrity! http://www.coindesk.com/terrahash-opens-asic-mining-preorders-loses-business/Led to believe you would get the equipment before June? BS! Cloud Hashing was well aware the deal with Avalon could be delayed as BitSyncom sorted their shit out, as we all have known, but they were happy to jump on board until KnC started looking more legit, then Cooud Hashing dumped Terrahash high and dry whilst making a similar order for something with delivery in September...not June?! Now, get this it appears Cloud Hashing want back in since Terrahash have had to order another 20k chips to satisfy demand; https://bitcointalk.org/index.php?topic=198489.msg2527527#msg2527527 presumably ahead of the pre-orderers that just saved Terrahash from going under!! After this, no one should be doing any business with Cloud Hashing period, that's just common sense. Integrity is everything! This is without the fact Cloud Hashing's business method to their own customers is at best unstusstainable, and at worst knowingly faudulent. With the latter overtly being the case!! Terrahash customers, Cloud Hashing put you right in this pre-order mess and now they want back in to jump queue, be warned... Terrahash don't you dare return that call, Cloud hashing almost unceremoniously, and purposely sank your business! This might also explain why preorder numbers started at 430#, I think the opening preorders are not even close to been in a batch 1 order since someone else (large company) already has dibs on first units. While that theory is might true, wouldnt that make the order #<100. Regardless I'm hoping they guarantee the firts 20k chips to pre orders. |
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I have fully paid for mine. I also have order #613 with 4 k16's.
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I called them on the phone today. Seemed very optimistic. The chip thing is really no big deal. They have ordered enough chips to finish all orders. by the time they have the first batch shipped the new chips will already be there. Shouldn't be that much of a delay. Said my order would probably be in the first batch and I have a higher number than most.  what is your order number ? From the order list: 760 (justmyname - 640 chips) (ordered around 09:30AM PST) This good news That's great news! I think that means I got all first batch  . |
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I called them on the phone today. Seemed very optimistic. The chip thing is really no big deal. They have ordered enough chips to finish all orders. by the time they have the first batch shipped the new chips will already be there. Shouldn't be that much of a delay. Said my order would probably be in the first batch and I have a higher number than most. what is your order number ? |
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