I am quite surprised no one has started a thread in this forum letting fellow scrypt miners know that Zeus canceled the production of the Gen III boards and are offering those who pre-ordered 2 options.
1) convert your pre-order payment into Hashing power at the price they're charging which in most cases is 3 times what we paid for the hardware to own it.
2) a refund which for many of the bigger pre-order people will amount to a big loss of money due to the drop in BTC/LTC value compared to when they actually pre-ordered ( if your pre-order was say 4 btc at $500 per BTC , your refund will be 4 btc based on current market value when they decide to actually send the refund. ) The refund will take up to 2 weeks for them to send it even though it took minutes for them to receive it from us.
I for one didn't lose much. i only pre-order a couple of thier low end blizzard x3 miner upgrade boards to convert a few 1.3 mhs miners into 10 mhs miners. But i did go out and actually buy 1.3 mhs miners for the express purpose of upgrading them. so now i'm stuck with miners i would have never even considered buying in the first place.
But there are many people out there who spent 10's of thousands who are now out a lot of money.
they even went as far as to try to tell us that 80% of the people who bought into the pre-ordered , e-mailed them back , requesting to convert thier volcanoes and GEN III boards into hashing power on thier new cloudmining service.
they expect us to believe that 80% of these people were willing to spend up to $15.00 US for 1 mhs of cloudmining service that charges fees instead of around $5 US per MHs to own the hardware and run it on our own networks.
spread the news. don't let this get buried. People need to know how this company does business.
this is the actual e-mail that was sent out to everyone who pre-ordered the new Volcano and or GEN III Upgrade boards.
This is Terry and I am the CEO of ZeusMiner.
I am writing to you because you have placed a pre-order for a Volcano or GEN III blade products with our company.
I would personally like to thank you for your trust in us but also have an important matter that I want to discuss with you today.
When we have announced the pre-orders in September a lot of customers like you, have used this chance and placed an order for our Volcano/GEN III Batch 1 for December delivery. A month later ZeusHash, our cloud-hashing platform went online and we were amazed by its instant success with over 12,000 customers signing up in less than a month.
Since that time our customer service has received a lot of messages from Volcano pre-order customers - you might have been one of them - who asked us if it is not possible to change their pre-orders for December into a ZeusHash Cloud-hashing with instant BTC/LTC mining.
We took time to think about this possibility carefully, and as more and more similar requests were coming in we even hired an outside analyst team to support us in this difficult decision for our company.
The main reasons Volcano customers,who wanted to change to ZeusHash and start mining coins immediately,stated, were their growing concerns about the constantly low LTC and BTC price and the coin difficulty climbing sharply. As every investment is about ROI, we completely understand and agree to their concerns.
The analysts estimated that the moment we would allow the switch from Volcano to ZeusHash over 80% of the Volcano pre-order customers would take advantage of this possibility. But this would mean for us that it would be impossible to continue the production of the Volcano because of the low production volume.
From the moment we have received the first pre-order payment for a Volcano we have set aside this money in secured accounts in the same way we have received it (USD, BTC, LTC) and have used our own funds to finance the R&D of the Volcano.
For ZeusMiner the most important factor was always to listen to the community and work together with it to build up a strong and powerful Scrypt mining industry. Flexibility is a vital factor and we have realized that at this point we have to make a decision, either to listen to what the majority of our Volcano customers wants even it means that we have to accept that the money we put already into R&D will be lost or to continue to produce the Volcano.
We have stuck to our main principle to always put customers first and I as CEO of ZeusMiner have decided to halt the production of the Volcano and GEN III chip blades.
We have worked out two solutions that we think both will benefit you
1)Transfer your Volcano pre-order to ZeusHash for instant hashing. You will receive an extra 10% discount on top of the already extremely low Halloween Special promotion
2)Refund of the FULL amount including shipping costs in exactly the same way we have received funds from you (USD, BTC or LTC)
PLUS
If you have ordered at least 1 Volcano we will put FREE 10 GHS into your ZeusHash account
If you have ordered GEN III blades, you will receive FREE 5 GHS into your ZeusHash account
You may click HERE to let us know your decision. Log in with your account in ZeusMiner. (If it is your first time at ZeusHash, please try to log in with your Email and Password at ZeusMiner).
If you have purchased through one of our distributors, please be so kind and contact them for conversion/refund.
It has been a very difficult decision for us to make and we didn't take it lightly, but we feel that this decision reflects what the community wanted from us.
I apologize to you for having to make this decision and thank you for your support. If you have any questions, comments or anything to tell me directly, please send me a message to my personal email
terry@zeusminer.com With Best Regards
ZeusMiner CEO
Terry Li
cloudminerDW
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