Did anyone else here wire payment to Black Arrow's HSBC account? Specifically from Bank of America?

It's a long-shot, but a Bank of america investigator asked me if I was aware of any other victims with the same situation. Basically if there is anyone besides myself that paid Black Arrow via wire transfer from BOA to BA's HSBC account, the investigator said he would personally look into the matter if we provide the relevant information to him. (Reference numbers, dates, amounts, etc.) He couldn't go into much detail about what, if anything could be done, but he did say that they (BOA) take these accusations seriously and have worked with Hong Kong Banks and authorities in the past in similar situations. That's basically all he could tell me.

I doubt it would mean refunds, but it could possibly set the groundwork for lawsuits.....

The BOA rep could've been blowing smoke to cover his ass, but at this point I don't think it could hurt to provide the info.

If you paid from BOA via wire, please respond here. I'm not asking for details, but maybe we could get in touch privately and talk with BOA to at least get this stuff on the record.

I'm not expecting a miracle, but would like to let those responsible that none of us are going away, and someone is going to pay for this fiasco in some form.

Good luck to everyone.

Legal action is definitely possible.
 
This article has some interesting info on suing a Chinese Company from the U.S.- http://www.chinalawb...ted_states.html
 
According to a business lawyer friend of mine, the FTC can request that a Chinese company's funds be frozen while litigation takes place. He also said that U.S. companies and consumers sue Chinese companies often, and that they have decent success.
 
I personally haven't considered it yet, but if someone is willing to organize a class action suit, I'm sure plenty of people would be willing to join.
 
I wish BA understood that all they need to do is tell everyone what is going on, and agree to a good compensation plan. I'm positive this would make many customers happy and willing to wait a bit longer. ( The compensation would need to be at least 3x at minimum, but they have the equipment.)
 
If they don't act soon I'm sure we'll see legal action begin. I just hope BA isn't waiting for that to happen before they start delivering.
 
Just my 2 pennies.

Fair enough. Thanks anyway.

Minersource reps:

Any news of X-3 shipments?

Requesting 2.5BTC loan. Will repay 2.8 on 8-16-14 (Payday). I work for a BTC related company and I am paid in BTC and can provide proof of BTC earnings/payments.

PM me for proof of BTC employment and income.

Thanks for the info! I figured I'll play around in a small pool for awhile. More excitement here!

Hey folks. I'm considering adding my 3 S3's to Bitminter. Should I create separate workers for each or point them all to the same worker? Along with that, what difficulty should I be set at? ( If I point them all at 1 worker, should it be something like 1528?) Sorry, I'm a newb to Bitminter and using multiple miners. 

order #1313.

Are you shipping S3's or what?!

Anyone order from 112Bit?

Just got an alert from UPS that my S3's will be delivered on Tuesday.

Now I wonder when 112bit will ship the 1 I ordered from him.

No shipping for my Batch 1 order 

2014-06-30 19:51:10.0

I'm getting ancy. I'm damaged due to my ride on the Black Arrow failboat.

Any trouble with running 2 s3's off of that 750?

^ Those are X-3's, right?! 

Bobsag and Techbit:

After some math, I'm curious if this would work, although I'm still baffled by why BA cannot build a miner themselves and would rather pass the buck to resellers and manufacturers.

For an X-3 I would get 100 chips. Valued at $100 each = $10,000

If for each 100 chips sent to you, you built 13 COMPLETE boards: 4 minions, coolers, controller, and some way of hosting at Minersource with their PSUs rather than shipping, it might be worth it to a bunch of X-3 customers.

Each board: 4 minions @ 120GHs each = 480Ghs . X 13 Boards= 6.24Ths  and a total of 52 chips.

That leaves you (Minersource/Techbit) with 48 chips per X-3 transfer. $4800/5.760Ths worth of chips.

If minersource could host each "13 Board Frankenminer" for around $400 a month it MAY work.

The more I think about it, the more I like the idea, but it is dependent on customers not spending any more money than we already have, and Minersource's ability to host the units.

In summary: For each X-3, Minersource/Techbit builds 13 COMPLETE 4 chip boards that hash around 6.24Ths and consume 6250w. The units are hosted by minersource for around $400/month.

In return Minersource/Techbit get 48 chips valued @ $4800/5.75TH hashing power.

If this could be completed in a reasonable amount of time, I would consider it. But I, like many others, cannot fork out any more money on these miners.

Bobsag3 and Tech- Thank you for your hard work and considering this option. If something like this can be worked out, you may just save the day.

It's late and I'm exhausted. If my math is off feel free to flame away.

How does this make sense?

This is very worrisome. Is BA essentially admitting that they cannot make their own chips into a functional miner? In the last update they said that batch 1 and 2 would be shipped by the end of july. But now they want us to take raw chips, spend more money on parts, and wait another month plus for assembly by a third party? Is this an attempt to avoid sending compensation units?

I don't understand why anyone would do this. WTF is going on?

EDIT: See new post below.

Wow man. I was just stating my opinion and trying to have a little optimism. No need to get angry bro. If you want to live in FUD land, be my guest, I'll be in dream land if you need me.

Well I'm trying to look on the bright side and convince myself and Black arrow that there is a small possibility of things working out in the long run. Amongst all the negativity, which I too am guilty of, I'm trying to look at things with more positivity and hope the positive energy rubs off on others.

Also, with the broken english and grammar in these updates, it's sometimes hard to determine exactly what they mean sometimes. Like when David said that the backplanes were fixed and in production, but they have handmade backplanes for testing....some of the info given is convoluted, ya know?

It looks like we WILL get the PSU for our Compensation units. Black Arrow- Don't go back on this!
 
Compensation
Currently we are unable to raise the compensation more than announced previously. The final decision will be made after we complete all deliveries in order to calculate the yield and our final costs.
However, we have done all preliminary calculations possible right now and due to our design focused on quality including:
-8 layer PCBs
-heatpipe heatsinks
-aluminium case
-included power supply
-long life 4 wire 5000 RPM fans
-genuine parts (capacitors, resistors, mosfets, inductors etc)
-capacitors that cannot not explode
 
 
Everyone- save your emails that state this, they will have no choice but to include the PSU, and probably refund everyone who has paid for extras.
 
 
I'm curious to see the price drop one they start shipping. I'll buy up a bunch of X-3's @ 1.5BTC a piece. If they're able to beat Bitmain's price, they may just be able to make enough to reward Batch 1 and 2 customers AND possibly fund a new project. Hopefully they'll hire proper PR people and stop the pre-order BS.
 
If they're very careful and play their cards right, they can take this (very) rough first run, learn from it, hire the right people, (like me) and redeem themselves.
 
For some reason I see a very faint light at the end of the tunnel.

So who is going to be requesting refunds?

If you do, please update us here on the status. I'm sure if a few people can successfully get a refund, the masses will follow.

Black Arrow, you should prepare your wallet and just refund customers with BTC no matter which way they paid you.

If you refund people and the X-2 isn't complete garbage, I'm sure people would buy a few. Also, when you drop the prices of the X-3 and X-1, a bunch of us will probably use the the refunded BTC to buy back the X3 and 1 at fair market prices. I would just because you acted in good faith for once and treated the people who funded you with a bit of respect.

ill escrow, you pay fees.