[CLOSED] Avalon ASIC chip distribution

[mikep2012]

myself - i want the batch 3 delivered - since i've already paid for burnin assembly, and i'm loosing 50% of the money if this batch will be refunded.
also i have some small orders in other batches - those can be refunded if the delivery will take too long.

Zefir, btw can you ask Yifu what is the real situation about the chips that you've ordered - does he have them ready or not?

[Bitcoinorama]

Answer me this - how is Burnin fucked?  He received lots of funds for orders he may never fill.
How is Zefir fucked?  He already earned 9.9 % of the cost of every chip for organizing the group buys (+-500 BTC).
A couple of days ago he sold 7000 Avalon chips at a profit to Bitmine. 

The only people fucked are us idiots who participated in the group buys and trusted Avalon  We are now left with garbage
if anything at all.  I really hope that the Asian ASIC cartel will kill Bitcoin.

zefir and burnin (and sebastian) are genuine and not greedy. they took fair prices and communicated almost daily with their customers.

what exactly went wrong with bitsyncom ?

Agreed, and I don't get it either.

[rgzen]

myself - i want the batch 3 delivered - since i've already paid for burnin assembly, and i'm loosing 50% of the money if this batch will be refunded.
also i have some small orders in other batches - those can be refunded if the delivery will take too long.

Zefir, btw can you ask Yifu what is the real situation about the chips that you've ordered - does he have them ready or not?

I am in similar situation... though, full refund would be better than get chips too late for get any considerable mining revenue.

[weaknesswaran]

Full refund - a bird in the hand is worth two in the bush

[ThickAsThieves]

Wow, what a depressing thread...

[zefir]

Update: Batch Refund Processing

Status
After today's response from BitsynCom, what we have is:

• Avalon prefers to refund in full
• partial compensation should be implemented by a full refund followed by ordering in-stock chips for lowered prices
• no compensation with more chips possible (due to short supply)
• no upgrade to next-gen products, which would be the old pre-order madness again

At the other side we have:

• users willing to take the refunds and forget
• users willing to wait for their chips to build their boards
• users demanding a compensation if they wait longer

To not over-complicate the process, I propose to limit it to the two obvious choices: a) full refund now, or b) keep waiting. For those with chips in one of the next batches, I'll try to get some shipping estimate from Avalon, but as we have seen how difficult it is to predict those, such an ETA might not be reliable at all. Those demanding their chips plus some compensation for the delay should follow the proposed approach: get a refund now and order chips later when they are in stock and cheaper. You do not need to cancel the order at your manufacturer, but instead postpone the finalization of the boards.


Refund Processing
To get things started, I need everyones binding decision on this. Everyone please evaluate your personal situation and perform your mining profitability calculations. If you conclude you'd like to get your order refunded, please do this by sending this single CSV formatted line for each order you want refunded

Code:

<forum nick>;<-N>;<-C>;<address>

to the related email address. Please send from the mail you registered with at my website to ensure authenticity, otherwise please add the signature for the above CSV-line with the given address.

Edit: the variables above are: N=number of chips; C=amount in BTC. Please omit the square brackets, they are used as notation for mandatory fields.
Edit2: If you want all your orders refunded, you are free to add them up to cumulative numbers for N and C; otherwise, you can post one request per order to be refunded in your request.
Edit3: refund requests are final and cant't be canceled

If you want to keep waiting for your chips, just don't do anything right now.

Refunds will be distributed in full as soon as I receive them from Avalon.


Thanks for your support.

[dani]

Is the refund in btc and in full? Would I get the same amount of btc I paid? Could you ask the discount? 10% is not worth the refund and rebuying, nor would 50% compensate if you already paid a manufacturer..

[fex]

- I have orders in two batches. Can I get a refund for only one order?
- How much BTC per chip will be refunded?

[atcsecure]

Any news on batch #3 chips?

[Rodyland]

What I don't get is, where is the BTC for the refunds coming from?

The BTC (or at least a good chunk of it) should have been spent to manufacture the chips.  Given how late into the game we are, all of the chips should be being manufactured/packaged as we speak.

Did they make such a killing on batch 1/2/3 and chips that they can afford to refund thousands of BTC to unhappy customers, for goods that were maid/paid to order (so they say, hence the 'no refunds' line in the store T&Cs).

[SebastianJu]

@zefir... i handle it the way in my groupbuy that i ask if the buyers want refund and if they want how many chips they would like to get anyway. Since we bought 5.6 batches it might be possible that one batch still remains ordered while the others get a refund.
In case the chip count of those chips that dont want to be refunded and its not reaching 10k... maybe we could work something out in case your buyers want enough chips to be delivered anyway that a full batch comes out of it?
Only a thought...

[Painful Truth]

What I don't get is, where is the BTC for the refunds coming from?

The BTC (or at least a good chunk of it) should have been spent to manufacture the chips.  Given how late into the game we are, all of the chips should be being manufactured/packaged as we speak.

Did they make such a killing on batch 1/2/3 and chips that they can afford to refund thousands of BTC to unhappy customers, for goods that were maid/paid to order (so they say, hence the 'no refunds' line in the store T&Cs).

+1

[zefir]

Is the refund in btc and in full? Would I get the same amount of btc I paid? Could you ask the discount? 10% is not worth the refund and rebuying, nor would 50% compensate if you already paid a manufacturer..

Since chip prices are given denominated in BTC, I understand we are talking about BTC refunds in full, everything else would be not acceptable. Yes, I'll ask for estimates on discount, alas I do not expect reliable answers, since prices are dynamically adjusted to market conditions.

- I have orders in two batches. Can I get a refund for only one order?
- How much BTC per chip will be refunded?

Yes, you can place a line per order you want refunded, or sum up all your orders into a single line. Though, you can not get an order partially refunded (this is impossible to handle). See above: we are talking about full refunds, you get back what you paid.

Any news on batch #3 chips?

As always, news are posted immediately here.

@zefir... i handle it the way in my groupbuy that i ask if the buyers want refund and if they want how many chips they would like to get anyway. Since we bought 5.6 batches it might be possible that one batch still remains ordered while the others get a refund.
In case the chip count of those chips that dont want to be refunded and its not reaching 10k... maybe we could work something out in case your buyers want enough chips to be delivered anyway that a full batch comes out of it?
Only a thought...

I have enough own chips in order to easily do the inverse fore-running I did when ordering: I'll ask for a refund of a batch immediately and for the next as soon as I have refund requests for 10k chips. We can start coordinating this when we approach the end of the refund queue to ensure every buyer gets what he wants.

To state the obvious: noone will be forced to take a refund if he does not want, as well as noone will be forced to keep the chips if he does not want. There will be a later demand to set a deadline to clear things up in a timely manner, but right now everyone has enough time to form his fully independent decision.

[SebastianJu]

To state the obvious: noone will be forced to take a refund if he does not want, as well as noone will be forced to keep the chips if he does not want. There will be a later demand to set a deadline to clear things up in a timely manner, but right now everyone has enough time to form his fully independent decision.

Sounds generous but i hope it doesnt lead to the point that you have to keep chips you dont want at all so that you have to pay for this mess at the end.

[BitCsByBit]

What I don't get is, where is the BTC for the refunds coming from?

The BTC (or at least a good chunk of it) should have been spent to manufacture the chips.  Given how late into the game we are, all of the chips should be being manufactured/packaged as we speak.

Did they make such a killing on batch 1/2/3 and chips that they can afford to refund thousands of BTC to unhappy customers, for goods that were maid/paid to order (so they say, hence the 'no refunds' line in the store T&Cs).

There is evidence that they were mining with batch 1, 2 and 3 before they were shipped out with 1000's of BTC in the mining wallet.

Edit: also the proceeds from the chip sales have not been touched.

[Unacceptable]

So that would mean Yifu never ordered all of the chips from TSMC so what happened to all those coins?  Yifu would never refund if he paid and have ordered all the chips knowing that people will not be buying them even at a discount.

Y I FU will/had make/made a killing selling our chips in his homeland,not to worry,he'll STILL be a multimillionaire   

China will eat these chips up at a markup even 

[fasmax]

Would it be possible to get a new estimate from Avalon as to when the batches might be delivered?
Are we looking at 9 to 10 more weeks or are we looking at days?
Thanks!
 

[marto74]

Would it be possible to get a new estimate from Avalon as to when the batches might be delivered?
Are we looking at 9 to 10 more weeks or are we looking at days?
Thanks!
 

+1

[Rodyland]

Would it be possible to get a new estimate from Avalon as to when the batches might be delivered?
Are we looking at 9 to 10 more weeks or are we looking at days?
Thanks!
 

+1

Yeah, this.  I've got some chips in batch #3, which if they were close I would stick with just because I want to.

[Bogart]

what exactly went wrong with bitsyncom ?

I'd like to know this also.  I fear though that we may never.