So moonasic posts here 2 days ago just over 12 posts young and hasn't answered any real questions about NRE, foundry, fpga demos, but argues about the cost of google adwords and the few hundred it costs to run a woocommernce/wordpress website.

LA wasn't a closed group.  It was open to everyone.  I joined a month ago.  Recently (about 3 weeks ago) they have temporarily stopped new memberships as they reorganize membership types.  Once that is finalized they will open it up again. 

I would love to see if alpha tech additives to offer a batch 2 and if they can afford to make a batch 2 since their shitty chips are packed like sardines in the tin can they designed.
The only way they could batch 2 would be to put out a 28nm version of the chip but who will tape it out for them? Drexel hates them with their reputation no one would partner with them. Customers would be afraid to go though another mismanaged pre order.

My guess is alpha tech will shut down as soon as the warranties are up. Either what ever it is now or what ever Fiaz edits it to in the future.

And they have failed to deliver on that agreement based on the original terms.  Adding additional hashing does not preclude the fact that they have missed their deadlines on providing cc payment options and shipping buy july 1st.

Not to mention the practice of changing the terms of agreement, deleting posts that can be linked to them and qualifying me as a business but not asking for business credentials/identification (tax id/ federal id/business id) only to skirt some laws to afford them more protection and force their customers into a position they did not expect to be in.

For all these practices I feel that there should be a suit to file against them.  Again its a lawsuit.  The purpose of to determine in a court of law (not on a forum) if Alpha Technology violated any laws.  If they did then we can talk damages.  But right now we need an investigation and filing a lawsuit is the best way.

For as much as you have spent on advertising this is the first time I've ever heard of you. I've goggles for your company and I don't even see you popping up in even second page ads on Google search. What are you keywording? I've used asic scrypt hashrate litecoin dogecoin ltc doge. I don't see you on any combination of them.

And since you are shopping in a couple of weeks. Which shop did your chip design/nre. Who was your foundry?  Since you are in assembly you should be able to provide that information as there is no competitive advantage to keeping it undisclosed.  By telling us you provide better transparency and if I can confirm with the designed you are a client I would be interested in 10 to 12 960mhs units to start.

Fiat deleted all his posts on bitcointalk and litecointalk that had the July date as a guarantee. He also edited the AT forum cleaning of the July delivery.  The best you can do is try to find a cache or archive or make a legal request for those deleted posts.

Anyone planning on starting an AT lawsuit thread?  There seems to be interest and a number of people have already started legal action individually. Better to group together as a class action.

THIS^^^^.  The major mining farms are all going the route of selling cloud mining shares.  They pass on the diminishing returns to the customers buying shares.  With the cash from the sold shares they buy more mining hardware, further diminishing returns which forces customers to have ot buy more shares, and the cycle goes on.   All the while the farm stays solvent on the backs of fools throwing away money.

And still as of now no confirmation to determine if your credit card is owned by a business and still no verification of a tax id or business number.  My, my they have gone to great lengths to detail all the steps surrounding credit card payment, fraud protection, paying on multiple invoices.  But not a single request to confirm your business identification.


What systems???  They have not shown a single photo of a single system/case/board to accommodate event a piece of lint let alone a chip.


So its TRUE.  They do NOT have chips and will not get chips until they remit final payment to Drexel.  So basically their chips are held hostage because Alpha Tech does not have enough money to pay the remainder of the costs.  That is not good, not good at all.  This means that they could have had chips over a month ago but did not have enough cash to continue development.  Expert management there.

Oh nice finally a prototype!!!  But you first have to pay them so they can get chips so they can show you a machine that actually hashes.


LOL Captain Obvious finally got a clue.  This is why they have been silent for so long.  They could not defend their position. 

Best case scenario?  Moving the goal posts.  July was a guarantee for delivery.  Just like the payment processor would be completed July 1st guaranteed.  But every time Alpha Tech fails they don't offer up any consolation to customers.  So what does it really matter if they say they guarantee anything.  Their words are worthless at this point.  SO many false promises broken.


And even now no ship date.  They can't even project if they will get enough funds from credit card processing to remain solvent let alone be able to ship anything but empty cardboard boxes.



Here is how it will probably work. 

Worst Case scenario (most likely at this point.)

• 1 week ultimatum to make a final payment
• if they do not get enough funds, they will offer up a second ultimatum for final payment, they really mean it this time.
• Big discounts on remaining batch 1 units.  All those cancelled orders, and orders that are not completed.
• 3 weeks from now, they go bankrupt because they do not have the funds to get ships and assemble units.

Best Case scenario (rainbow farting unicorns)

• They get the funds to complete Drexel payment in 1 week
• 2 weeks from now they get delivery of the chips.  It is August 1st at this point
• At the same time get get cases and boards
• They hand assemble everything because they cannot afford a factory to build the units.  Yes a bunch of accountants will be working day and night putting chips on boards and putting them in cases and shipping them out.
• 5 unskilled laborers adding chips to PCBs.  They will be lucky to get 10 vipers done a day.
• August 15th - 70 vipers shipped
• August 25th - 70 vipers shipped, first 70 vipers stuck in customs
• Sept 5th - second batch of vipers stuck in customs, first 70 vipers released from customs.
• Sept 15th - first 70 vipers delivered. second 70 vipers released from customs.
• Sept 25th - first customers complain about overheating, hardware nounce errors, poor hashrates, immediately get banned from AT forums.
• Oct 5th - Fiaz stops assembling duties and focuses 24 hours a day on banning disgruntled customers and deleting posts.  Fiaz says that they only guaranteed 5MHs minimum and that the recent upgrades were best case scenario hashrates.
• Oct 15th - Fiaz changes terms and conditions hardware warranty to 10 days limited.

The moonasic dude is puffing his chest about a few thousand in website building costs.  But the utter fail is that the nre to get chips with that performance at that price would cost an easy $1.2  million in NRE to get to masking.

This is a major scam

It won't. First when it ships difficulty will be over 50k. When it ships day 1 it is estimated to Roi in days.

But they aren't shipping 1 miner just to you. They are shipping 2000 miners all hashing 300mhs.  That is 600 ghs added in a couple weeks. Difficulty will jump to over 100k in those 2 weeks and Roi will go from 70 days to 210 days. That doesn't include all the other companies launching the same time.

Today is July 15th. 23 hours left in the day for AT. 

Still no prototype
Still no chips
Still no cases
Still no psus
Still no cc processor

But don't worry, they guarantee you will get your miners in the next 2 weeks.  So what is the guarantee? What do customers get if AT can't fulfill the guarantee?

So an exchange closes and I lose 10BTC trading there.  I file a claim and get back the equivalent value of UBTC but no BTC.

So I guess I would sell the UBTC for BTC to get back my BTC and move on.

Oh but wait.  Not only I but 300 other people lose a total of 5000BTC on that exchange.  We all get UBTC

We go to an exchange and trade our UBTC for BTC and UBTC price collapses and makes UBTC near worthless.

So who would really buy UBTC then.  If everyone would be selling it after claims why would I ever invest in it as a long term holding it would be a huge risk.

Dunno this whole secondary asset coin thing is already proving to be a failure before it even launches. 

Yes the initiative was there and aspiration was there but the competence was not.  They did not go into this attempting to scam people, but now that they have failed on so many levels (transparency, prototypes, billing, partnerships) they are circling the wagons to protect themselves.  So they will do their best to try to throw together some kind of defence absolving themselves of all guilty and justify keeping the money they have taken from their customers.  So it didn't start as a scam but it became one.

Why bother with Alpha Tech anymore.....

Never preorder!!!!  ALpha is no where's near delivery and there are already SHIPPING units for less than you are paying for a Viper. 

Instead of paying your 70% just buy a unit from zoomhash and get it in 5 days!!!

By the time Google updates the street view you won't see an AT sign there either the way this is going.

LTC difficulty is climbing 7% every 3.5 days and KNCminers haven't even hit the network yet.  If KNC delivery by end of August then I"m speculating that Difficulty will be around 50000 to 75000 by Sept 1st.

That means that the best case scenario is that if GAW delivers on Sept 1st it will ROI in 60 (worst case 100) days.  However if a lot of vault breakers ship at the same time then by end of Sept difficulty will be well over 100k to 150k.

So within 1 month of shipping if they ship on Sept 1st best case scenario is that Vaultbreakers will ROI in 133 days (worse case 200 days).

Remember that if GAW sells 1000 Vaultbreakers that will at 750GHs to the network.  The network is already at around 600 GHs.

I was sifting through the coindesk archived articles to catch up on what I missed and I saw this little gem....

[Alpha Technology] ...also stated that a more substantial update is pending, and issued a second apology to those who have been seeking contact with its payments team. Alpha added that it will begin contacting customers once it is able to begin processing payments, saying “we guarantee it will be before July”.