16 CFR Part 435 does not cover Internet Sales. What Does the Rule Cover?
It applies to most goods a customer orders from the seller by mail, telephone, fax, or on the Internet. It only covers the selling of goods by mail or telephone. (a) Mail or telephone order sales shall mean sales in which the buyer has ordered merchandise from the seller by mail or telephone, regardless of the method of payment or the method used to solicit the order. Read it yourself. http://www.law.cornell.edu/cfr/text/16/435.1 |
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@NotLambchop Lets set the record straight VMC and AMC are not being sued by anyone as of this writing. You mean you haven't been served yet. You're being investigated for securities fraud by your state, and a lawsuit is being prepared by Wood Law. As of this writing. @NotLambchop Wrong again the MSD is not investigating us for securities fraud and the Wood Law firm has not said they are preparing a suit. |
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16 CFR Part 435 does not cover Internet Sales. |
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@NotLambchop Lets set the record straight VMC and AMC are not being sued by anyone as of this writing. |
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I don't buy the broken AC excuse. How can they be limited at 80th when the plan was to have the farm 250th +?
Presuming the 3rd AC is completely fubar, can he not buy another one?
They are missing out on $10k per week they don't fix that AC.
Also why do they even need an AC if these are water cooled?
Thermodynamics. The water cooled systems use air fans to cool the water by blowing air across a radiator like in a car. If the air is too hot the water can't be cooled enough by the fans. Imagine a car sitting in a traffic jam in the summer and overheating. The radiator fan is blowing like mad but it can't circulate cool air until it starts driving forward. In our case the moving car is equivalent to switching on the AC. So what's your theory Jim? Are you suggesting that Ken is running 240TH but has directed the bitcoin to a hidden address? Why can't ken just put a giant radiator or two outdoors? I'm not suggesting ken has 250th but the AC excuse doesn't check out. He should know that time is crucial in bitcoin mining. outdoor radiator does not make sense unless you wanted an obscene water cooling solution that combines all the units in a DIY system rather than a proven corsair system. The way he is doing it is *mostly* right. this AC being down is a rediculous excuse, true or not. No hardware has been added in over a week, and the hashrate is only 80TH when it was supposed to be 170TH as of 6 days ago. There is no way he will get past 120TH even with the third AC Really, I made a mistake and said 170 TH, but it should have been 100 TH by the end of April. We are at 80% of that, it does look like the AC can only support about 130-150 TH with the third AC running. That AC should be fixed this week. The 800 TH was based on the power available and was my estimate. We really did not know what the AC could support, but the DC had 3 massive AC units. |
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Ken,
could you tell my about the status of my refund cheque?
It's been 5 months now since I requested a refund...
A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave. You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations. Isn't ken legally required to give refunds for every single preorder due to the fact that the product no longer exists? FTC says he can have delays up to 30 days past original shipment date or else refunds must be given. And FTC also says refunds must be given within 7 days of order cancellation. How Quickly You Must Make a Refund
When you must make a Rule-required refund, the following applies:
If the customer paid by cash, check, or money order, you must refund the correct amount by first class mail within seven working days after the order is cancelled.
If the customer paid by credit, you must credit the customer’s account or notify the customer that the account will not be charged, within one customer’s billing cycle, after the order is cancelled.
source: http://www.business.ftc.gov/documents/bus02-business-guide-mail-and-telephone-order-merchandise-ruleLook up the rule for custom orders. This is the rule for pre-manufactured items. You're full of shit, a liar, and a thief. You never sold a custom item, custom would mean individualized. You presold a product, and you are lying and stealing from your victims. Man up and send the refunds or GTFO you loser. Each machine was built to order, the individualized order for the type of machine and the number of cards. We did not build a machine before we had a order for it. |
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Ken,
could you tell my about the status of my refund cheque?
It's been 5 months now since I requested a refund...
A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave. You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations. Isn't ken legally required to give refunds for every single preorder due to the fact that the product no longer exists? FTC says he can have delays up to 30 days past original shipment date or else refunds must be given. And FTC also says refunds must be given within 7 days of order cancellation. How Quickly You Must Make a Refund
When you must make a Rule-required refund, the following applies:
If the customer paid by cash, check, or money order, you must refund the correct amount by first class mail within seven working days after the order is cancelled.
If the customer paid by credit, you must credit the customer’s account or notify the customer that the account will not be charged, within one customer’s billing cycle, after the order is cancelled.
source: http://www.business.ftc.gov/documents/bus02-business-guide-mail-and-telephone-order-merchandise-ruleLook up the rule for custom orders. This is the rule for pre-manufactured items. |
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24 Hour Sale on our Gold Rush boards $200 off with this voucher K0JLPCYB
Limited to the first 25 boards sold.
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24 Hour Sale on our Gold Rush boards $200 off with this voucher K0JLPCYB
Limited to the first 25 boards sold.
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Weekly Update 4/30/2014
AMC:
Datacenter:
We are continuing to add TH; however, at this point our 2 units of air conditioning are maxed out. We have been repairing the third unit and it should be up and running next week when parts arrive. After the third unit starts running we will be adding more THs to the datacenter.
VMC:
We are improving our logistics and our shipping is starting to run a lot smoother. We have just added our Gold Rush boards to the website and at less than $2 GH these are starting to sell.
MSD:
No new news this week.
Shares:
No new news this week.
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sorry now i did my research - they are real but IMO not a very good method of cicuit overload protection when the key safety component can be adjusted to higher/lower sensitivity. What happening is that under load the voltage was going down to 115 which caused the overload. Our electrician came over on Sunday morning and adjusted the voltage up to 130 which under load went down to 122 and solved the problem. |
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Think I read something about the stats being in fail-safe mode and not reporting correctly, but the warning on the page is gone now, so I'm not sure. Looks offline on my miners Eligius page all the stats are still updating and that red banner is gone. Maybe they are adding more power... We kicked the main 200 amp breaker. Edit: We kicked one of our main 200 amp breakers also took down some of our switches. When these switches went down then some of our other racks could not communicate with the internet. We will be correcting this problem. |
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So guys its been 25 days , and i have only received 1 board .
Firstly i was told , that they somehow forgot to ship my remaining 4 prospectors , then i was told they are getting ready , and now when i asked Ken to give me the '' Gold Rush '' boards instead of the prospectors , as they are delayed , he said my prospector boards are already packaged , and this was 2 days ago .
I have really lost hope now on receiving my remaining 4 boards .
Now i can officially say , that i was fooled .
I can't believe this is actually happening , that it would require them 12 days to ship out 1 prospector board and 12 more days for nothing more .
I am tired contacting ken and messaging on website , and i am going to withdraw myself from this whole thing .
I am considering my remaining 8000USD to be a bad debt .
I i ever receive my remaining boards , I will post it here .
Thanks Ken .
Your boards were shipped on Wed. |
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Weekly Update 4/23/2014.
Datacenter:
We are up to 64.34 Th/s and expect by the end of the month to be around ~170 TH/s. Everything is in place to expand our hash rate to this level.
VMC:
We have announced our Gold Rush boards and have had a very positive response. We are now training and switching our help to do more shipping than build of the mine.
We have 100 Gold Rush boards in stock for immediate shipping. We have worked out the logistics for this.
MSD:
Nothing new at this time.
Shares:
Nothing new at this time.
Ken could you clear up the meaning of the text above that I've bolded. It suggests that we will be at 170 TH by the end of the month which is only one week away. Did you actually mean we will be at 170 TH one month from now? No, we have everything in place and my Project Manager has told me to expect ~170 TH by the end of the month. It may take a week or so longer as there are only a few more days left in this month, but we do have everything is place to put THs on line quick. |
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Hey Ken, just a few more questions.
1) Any possibility you can send out dividends?
Not until we get shares up and trading and the MSD Investigation is settled. 2) Are we constructing our own ASIC still?
Yes, we are still working on it. 3) Any chance we can buy ASIC IP from Hashfast?
Good question. 4) Did peoples ASIC actually help us at all? How much have they been paid via bitcoin, USD or shares.
Yes, we own a working ASIC IP. Also, a lot of intangibles we received. No bitcoins, or USD was paid. 5) We need to add 1,000TH/s per month beginning 2015 to be able to maintain 1% of the network. Can we do this? Does your projections account for this?
We are in an excellent position to do this. 6) Are we buying the entire hardware all together at much less than $1/GHs?
We are working all the time to remain competitive. As you might have noticed our new Gold Rush board is < $2/GH retail. 7) The Gold Rush boards, we know they are Hashfast design, but who builds them? ActiveMining contractor OR as some know suspect, Hashfast themselves?
We are building our own boards using Hashfast design and their ASIC chip. We have our own CM's. |
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Weekly Update 4/23/2014.
Datacenter:
We are up to 64.34 Th/s and expect by the end of the month to be around ~170 TH/s. Everything is in place to expand our hash rate to this level.
VMC:
We have announced our Gold Rush boards and have had a very positive response. We are now training and switching our help to do more shipping than build of the mine.
We have 100 Gold Rush boards in stock for immediate shipping. We have worked out the logistics for this.
MSD:
Nothing new at this time.
Shares:
Nothing new at this time.
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Ken should never have sold any units to customers until everything was properly in place. Pre-orders have been a disaster both PR wise and complaints that put the company under the microscope.
Even now, things are not in place properly - stop selling products. Just get the mining ramped up, then get the whole order, dispatch, customer services up and running properly before selling any more products to consumers.
Easy for you to say. Hard to do with the bitcoin difficulty going up 15% every 10-14 days. |
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Announcing our Gold Rush mining card:
Great news. How will this affect sales of the Prospector? Can VMC handle the logistics if this becomes a popular item seeing as there have been many issues with the small amount of Prospector boards sold so far? Will any of these boards be added to the mining farm? The problem with the logistics is that our people have been working on our mining farm. After the mining farm is built, then there should not be a problem. Can you share specific information in regards to how much more hash power is going to be added? A detailed time line would be great. Are we going to be using the new Gold Rush mining card for our farms from here on out? Please let us know. Thanks. Yes, we will be using the Gold Rush cards in our farm after we install all of our Prospector cards. Time line has been set, 100 TH this week, then up to ~170 TH within the next month. We have just install enough power to do this. That is if we don't sell to many of our Gold Rush cards. |
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Announcing our Gold Rush mining card:
Great news. How will this affect sales of the Prospector? Can VMC handle the logistics if this becomes a popular item seeing as there have been many issues with the small amount of Prospector boards sold so far? Will any of these boards be added to the mining farm? The problem with the logistics is that our people have been working on our mining farm. After the mining farm is built, then there should not be a problem. |
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Announcing our Gold Rush mining card:
In Stock ready to ship:
$1,499.00 .89 Watts per GH, 750 GH/s +/- 10%
PM me for orders for 10 units and over. On our website soon for single orders.
Limited availability.
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