New Company Claims to be Selling Bitcoin Mining ASIC Systems: www.asxproject.com

[ProMine]

Hi all,

A new website; www.asxproject.com (from Shenzhen, China) claims to be selling ASIC mining systems with hashrates ranging from 25-125 GH/s when they open in 3 days.

According to their RSS feed they have no customer service office and are an online based company. They expect to be shipping their first 100 orders within 3 weeks after purchase. Does anybody have a legitimacy confirmation or information about them?

[chanberg]

probably a scam, which chinese people/companies are known to do...

[ProMine]

probably, but still it seems possible that the chinese can remake or improve the ASIC modules produced by Avalon. There is no doubt that there are other companies able to join the market for bitcoin mining hardware besides Avalon and BFL (at least in the future). I hope this will be soon, because I missed out on the Avalon batches

[Sitarow]

probably, but still it seems possible that the chinese can remake or improve the ASIC modules produced by Avalon. There is no doubt that there are other companies able to join the market for bitcoin mining hardware besides Avalon and BFL (at least in the future). I hope this will be soon, because I missed out on the Avalon batches

Quote from webpage.

About
We are an online based company that specializes in ASIC-based bitcoin mining hardware. Since September 2012 we have been considering building an ASIC based system with the sole purpose of mining bitcoins.

In December 2012, we visited different chip manufacturing companies in and around Shenzhen, China. We have reached agreement with them to produce an ASIC module which we would then test on-site. Only one of the produced modules was tested. At the end of the testing phase, we accomplished the module to mine at ~28 GHash/s. The module contains 10×10 ASIC chips and a heat sink of 0.5″. We experienced excellent cooling performance in our prototype system.

During and after the testing phase we designed the ASX ASIC-based mining system, which was developed to hold up to six modules, and enables hash rates ranging from 25 GH/s to 150 GH/s.

Since the successful testing phase, we have been further scheduling the production and financing of our project. Currently, all planning has been completed. Therefore, we need to finance the production of ASIC modules to build our ASIC-based bitcoin mining products by receiving pre-orders from our clients. We have made an agreement with our supplier that requires the sale of 100 systems, minimum. The moment that we reach this target, production will start. As soon as production starts we expect to be able to deliver our first client within two to three weeks. Hence, shipping dates depend on when our target is reached.

Read more about the development of our system at http://asxproject.com/?feed=rss2.

They seem to be developing along in a "normal" timeline however without more evidence and community involvement it would be difficult to raise the first 100 orders in order to get this project first batch development in motion.

Will they be using Avalon chips?

Perhaps what this project needs is you to make your improvement observation located at this link post http://asxproject.com/?page_id=241

Sent a few emails with hopes to get more details on this project.

[iwannagofast]

Would be very hard to trust them..

[TheSwede75]

Large parts of their website is pure cut and paste from other services. Check terms and conditions, makes NO sense for a webship, talks about 'rating system' etc. Looks like its just been pasted from eBay. Total 100% scam.

[richiela]

For what it's worth, a couple of us pre-ordered a 150g/hash system.  Total cost 2249... 17ish BTC... We did get a order receipt email and then an order processed email from them after 6 confirmations or so.

The emails came directly from asxproject@gmail.com.  If anyone else was foolish enough to place an order, i'd like to compare order numbers and the such.

[Nadia]

Why they "censor" the chip image ?!
Looks like a scam for me.

[01BTC10]

Censored ASIC chips found on their website:




Those are 1994 Apple Quickdraw 3D Card ASIC:



SCAM

OP is probably part of this scam.

[01BTC10]

For what it's worth, a couple of us pre-ordered a 150g/hash system.  Total cost 2249... 17ish BTC... We did get a order receipt email and then an order processed email from them after 6 confirmations or so.

The emails came directly from asxproject@gmail.com.  If anyone else was foolish enough to place an order, i'd like to compare order numbers and the such.

[moxdiamond]

oh what fun it is to post!

[richiela]

Starting to look more and more like it

FWIW, I am not advocating or trying to encourage anyone to go to the site etc... Just admitting that i'm the foolish one Here's my payment to bitpay... https://blockchain.info/address/1GvjcgMSDKDf9dK7vPu4yPXQhUsdMEzcAb

BTW, does bitpay offer any type of buyer protection etc?

[Lastro]

The website is well done with a professional english writer. I could not find any sentence comparisons to other sites with exception to TheSwede75 (nice catch) pointed out in the T&A section. This makes no sense:; "The Site allows you to post offers, sell, advertise, bid and shop online." That's straight from Ebay.

Edit - Did a little more research; whois registered info out of:

Nobby Beach
Queensland,QLD 4218
AU

[Nadia]

Censored ASIC chips found on their website:

OP is probably part of this scam.

Good find, definitely a scam.

[TheSwede75]

And only poster to 'promote' them on the forum to begin with is newbie.

Edit: Domain reg is also less than two weeks old, and somewhow they have 'posts' that date to Dec 2012. Not only do they sell Asics dirt cheap, they also have a damn time machine!
Edit: Also. Not that it 100% means they are a scam, but their checkout and registration of username and password does not even serve trough SSL. What serious company does that?

[discobean]

Their initial intentions might not be scam, but after they receive $ and realise can't deliver it will turn into one.

[TheSwede75]

In my opinion the things that speak the loudest to the fact that they are a scam are:

1. First batch is 'cheaper' (Yeah, companies usually launch their first product with a 'sale' sign). Aka. Take the money and run.
2. Nothing but stock images and 3D cad images of 'product'.
3. Suspiciously cheap
4. No physical office address
5. No Phone nr
6. 'Contact' does not answer emails
7. Copy/paste text from other sites
8. Non SSL ordering and registration (seems serious).
9. Accept only BTC (sure, I can see Avalon/Asicminer getting away with this but it's because they already HAVE trust).
10. No one seemingly have heard of them before they went 'live'.
11. Their 'stock' only updates in even 10 units and placing an order (as far as possible without making payment) has no impact on 'stock'.

Enough for me not to order.

[BitshireHashaway]

Interesting finds. To me personally, it seems to be a scam, so as a result, I won't consider purchasing anything from them until I hear more about them and if they show whether they are legit or not. Great find for the chip one, I didn't recognize that.

[richiela]

11. Their 'stock' only updates in even 10 units and placing an order (as far as possible without making payment) has no impact on 'stock'.

that isn't entirely true... it went down one unit when my order went "confirmed"... it sat at 249 for a while.  Not trying suggest they are legit, but someone should continue to monitor the stock decrements on other orders.

[Matthew N. Wright]

rofl. First thing I saw was this:



I knew it was a scam from that moment.

(Texas Instruments doesn't make ASIC chips for bitcoin mining last time I checked.)