Being naive and ambitious isnt a crime.

http://imgur.com/xEQaXnt

And guess what... it was deleted. Fiaz just can't post an update because he is to busy with deleting posts on their own forum. Someone still believes this jerk?

So, now it is guilt through association? Neighborhood no less?
How about the families nice standing in the community, business wise?
If you are going to judge an issue, look at all sides. Don't collect select data.

I'm not against the facts presented as I just stated in my last post here (and in other places in this thread), but when the energy of the thread is just falling apart and becoming personal, conjecture, fallacy based, purely negative, etc. then it is time for everyone to take a breath and step back. No good can come from a factual argument becoming emotional. It is the proverbial snowball headed down the mountain. Things may not look great, but judging by this thread one would think we are 3 months behind schedule.
Emotion, especially when it gets to the before mentioned level, seems to be more concerned with being right than finding truth and that is a dangerous place to be.
No harm can come from just sticking to what we know and trying to be a bit more factual and less personal. (like in the recent past actually).
I

Hey,   

I just wanted to reiterate some points as I feel there are undue misconceptions about our company. Our architecture was built in such a way that it would be feasible to upgrade our units in case we ever needed to. This does not mean it will not come at a cost to us as it will, however we are taking this hit and matching our competitors to ensure our customers get the best deal, not only in matching hash rates but the fact we were the first to start means we can guarantee shipping in July. We are very passionate about this industry and it is our intention of being in this for the long run, we are not after a quick cash grab and in doing this we hope to show that to our customers.

We are definitely able to increase it in time simply by altering the number of chips in our enclosure (as stated in our update one of the reasons we went for a larger enclosure is so it is upgradable in this way) this will of course cost us more but aside from pricing concerns which we will take the hit on we are still at such a stage of development where we can do this and not have it affect our schedule.

The reason we did not initially opt for hash rates this high is simply because this is our first such mining venture and the initial setting up, prototyping, designing and testing will inevitably cost ourselves as well as our partners more than usual, and will take longer than usual (we started in May 2013) and so pricing it any less did not make business sense, this is doubly appropriate considering at the time there were no companies producing such Scrypt miners hence we were offering customers the ability to fund a project to achieve this and with that they are willing to accept compromises. However once we did have our foundations and designs in place subsequent batches would have been significantly more cost effective thus more powerful in addition to being produced and shipped quicker, that was of course the original plan. I say this only to continue our tradition of transparency, this can be proved if you look at how detailed our developmental updates and responsiveness is. Just to add to the point of there being no competitors at the time, if that did remain true, our devices at their original hash rates would have been significantly more profitable at such lower hash rates nullifying the need for us to increase it so dramatically. Just to note, we only take a 30% deposit for pre-orders as opposed to taking 100% when it isn’t necessary, I do feel this is another significant benefit from ordering our miners, also our first batch customers will get priority in the next batch.

The fact of the matter is we advertised a product at a certain hash rate, which is all we can guarantee from our end, external market factors are out of our control, and customers accepted them at that price. So we are of course within our legal right to keep to this agreement. And yet as a company we will not operate like this, we will match our competitors as we absolutely appreciate external factors will affect them and the profitability of our miner. You can expect the announcement of our new hash rates which will match our competition any day now along with more news on our development.

Thank you.

edit: just so customers are aware this increase will apply to the 5 Mh/s model as well, both models will scale equally so expect significantly more powerful machines come July.

Hey folks!

We would like to assure you we are very aware of our competitors hash rates and pricing and intend to match them, we started development in May 2013 and are on schedule to ship in July giving us the clear lead. During development we decided to make our units larger and upgradable so we could accommodate increased hash rates with ease, we gave ourselves this leeway for a variety of reasons. And the announcement of Scrypt miners from competitors was of course one such reason that we anticipated and planned for. A full announcement with details on our new batch 1 hash rates will be released very soon!

Our first batch which has now closed will ship in July.

Hi there, firstly just to reiterate our office is for project management purposes, all units are manufactured in Bangalore. Now on to those pictures, our office wasn’t finished at the time they were taken, so they are quite old and as such irrelevant. In the interest of transparency and as a gesture of goodwill for the community I have decided to take a few quick photos of us:











Kind regards,

Fiaz.

Taking advantage of our partners workforce and facilities we expect to start shipping 4-5 months after pre-orders are taken.