Liquid Synergy Designs Inc. -ASIC mining hardware

[Stringchains]

We don't need another update. We need a path to closure of this BS. I'm sick of checking this thread.

Haha yeah. It has become routine habit for me to check and refresh this page 1-3 times a day now.

[1714847034]

1714847034

[cardcomm]

Good point about legal advise.  If a lawyer saw a legit list (with BTC signatures) and the amounts owed, maybe they would be willing to take it on, seeing the total amount owed.  At least it may help Steamboat pick up the pace.

Lawyers are parasites, a class action lawsuit would leave us with 60% of whatever steamboat is able to come up with and would likely be repaid in USD vs. our $125/BTC exchange rate locked in during September.  Lawsuits are also slow, likely wouldn't see any results for another 6-months to a year.  IMO legal route should be the last and final resort.  I.e, when Steamboat and his minions disappear, after John K releases his identity.

For those users who actually know Steamboat (we're glaring at you unaccepted) you may want to consider tapping your pal on the shoulder and advise a status update.  The duration inbetween status updates is growing, along with this crowds anger and frustration. Both are easily mitigated by a short and sweet update.

I agree with what was said here about lawyers and class action lawsuits. However, I WOULD like to point out that lawyers are not required when pressing CRIMINAL CHARGES. I'm ready for a refund now, THIS WEEK. Barring that, I'll be filing a criminal complaint.

Actually, the list proposed here would likely prove an incentive for law enforcement as well if they see the total amount owed is substantial. Is someone willing to start a list? I'd volunteer, but my organizational skills are mostly nonexistent.

[trilogy456]

Good point about legal advise.  If a lawyer saw a legit list (with BTC signatures) and the amounts owed, maybe they would be willing to take it on, seeing the total amount owed.  At least it may help Steamboat pick up the pace.

Lawyers are parasites, a class action lawsuit would leave us with 60% of whatever steamboat is able to come up with and would likely be repaid in USD vs. our $125/BTC exchange rate locked in during September.  Lawsuits are also slow, likely wouldn't see any results for another 6-months to a year.  IMO legal route should be the last and final resort.  I.e, when Steamboat and his minions disappear, after John K releases his identity.

For those users who actually know Steamboat (we're glaring at you unaccepted) you may want to consider tapping your pal on the shoulder and advise a status update.  The duration inbetween status updates is growing, along with this crowds anger and frustration. Both are easily mitigated by a short and sweet update.

I agree with what was said here about lawyers and class action lawsuits. However, I WOULD like to point out that lawyers are not required when pressing CRIMINAL CHARGES. I'm ready for a refund now, THIS WEEK. Barring that, I'll be filing a criminal complaint.

Actually, the list proposed here would likely prove an incentive for law enforcement as well if they see the total amount owed is substantial. Is someone willing to start a list? I'd volunteer, but my organizational skills are mostly nonexistent.

I will start a list in a new topic here: https://bitcointalk.org/index.php?topic=424576.0

I purchased assembly for 16 units.

[silicont]

Thanks trilogy456 for getting The List started.  I'll be posting tonight.  And now, the fuse is lit.

[cardcomm]

Thanks trilogy456 for getting The List started.  I'll be posting tonight.  And now, the fuse is lit.

Agreed, thanks for setting up the list. PM'ed my purchase details.

BTW, while looking at the details of my assembly payment on the blockchain I couldn't help but notice that it shows the current value of the BTC I paid. It's enough to make you sick. If only *I'D* held those funds all this time instead of Steamboat. ACK!

[nightengale]

Considering the lack of outcry over this, I think the SB's going to get away with it.

What did he always say? Those who serve most, profit most, or some BS like that?

[silicont]

I'm scanning for the formula in this 200+ page thread for exactly how to count this claim...  What formula are you using to compute the amounts?  Including hardware kits unseen, shipping cost unused, assembly fees unspent, and maybe margin between paid chip value and that refunded?  My figures are for fully assembled.  

My notes from looong ago show:
$35 parts per board
$98.5 full assembly labor
======
$133.5 full assembly per board, at the quoted refund rate of btc@$126.61 = 1.05441908 BTC full assembly per board?
Plus shipping, in my case $45.95 overnight for 80 chips, or .36292551 BTC?


Does this math jive with others?

I think we should try to all have the same math applied to our claims.  Thanks
---
Y'all need to make it official on this forum with trust ratings (SB's last login 1/23): https://bitcointalk.org/index.php?action=trust;u=15737
---
Link to SB's promised refunds:  https://bitcointalk.org/index.php?topic=192916.msg3803998#msg3803998
---
Found the best summary of the promised refund from SB:
https://bitcointalk.org/index.php?topic=192916.msg3808613#msg3808613

[cardcomm]

I'm scanning for the formula in this 200+ page thread for exactly how to count this claim...  What formula are you using to compute the amounts?  Including hardware kits unseen, shipping cost unused, assembly fees unspent, and maybe margin between paid chip value and that refunded?  My figures are for fully assembled.  

My notes from looong ago show:
$35 parts per board
$98.5 full assembly labor
======
$133.5 full assembly per board, at the quoted refund rate of btc@$126.61 = 1.05441908 BTC full assembly per board?
Plus shipping, in my case $45.95 overnight for 80 chips, or .36292551 BTC?


Does this math jive with others?

I think we should try to all have the same math applied to our claims.  Thanks
---
Y'all need to make it official on this forum with trust ratings (SB's last login 1/23): https://bitcointalk.org/index.php?action=trust;u=15737
---
Link to SB's promised refunds:  https://bitcointalk.org/index.php?topic=192916.msg3803998#msg3803998
---
Found the best summary of the promised refund from SB:
https://bitcointalk.org/index.php?topic=192916.msg3808613#msg3808613

Good question. Your math looks right to me as far as the refunds Steamboat offered.

If he was ready to refund that amount tomorrow, I'd take it and be done. But if this becomes a criminal matter, what he "promised to pay but didn't" is irrelevant. At that point IMO he would owe the full amount at the CURRENT exchange rate. I think that is the measure of our damages were this to become a criminal proceeding.

I actually got off pretty easy in this whole deal. I only order two miners, plus full assembly and priority shipping. I paid ~3.19 BTC which is currently valued at ~ $2550.00 USD.

So yeah, it's a very good question how much we are owed. I'm getting the strong feeling we'll never see it, however much it is. 

[silicont]

I feel the same.  If he refunds asap as promised, it's a done deal for me.  Time passes, steam builds, full consequences shall be applied.  The sting is there though:  a 34% promised refund received today = content disdain.

[xjack]

I don't think there's a lack of frustrated parties.  I just think people are tired of beating the dead horse.  Complaining has gotten us nowhere.

Ill pm my order details for the list.

Maybe we should negative trust SB's known associates.  If his friends can't lean on him then legal action is our only option.

[msm595]

Where is Unacceptable?

[Crindon]

Steamboat, when will you be able to give us back our refunds? I've sent another email and still received no reply.

[Stringchains]

I will start a list in a new topic here: https://bitcointalk.org/index.php?topic=424576.0

I purchased assembly for 16 units.

I agree, this is getting a little out of hand. This is a bit unprofessional for the delay in not even a status update on these refunds.
I payed for Full Assembly Service + Parts Heatsinks,etc & Standard Shipping for 16 units.
I have PM'd my transaction information & details to you trilogy456

Thank you dearly for starting the list, trilogy456!  

[dmcdad]

Just got an email from SB (check your inboxes):

The refund process is nearing completion. Upon verification of the
database, an email with further information and instructions to process
requests will be sent. Those customers which are eligible should look for
this email next week.

Thank you again for your continued patience.

As I said last week, hang in there folks. I really do think this is all going to be resolved soon. Yes, it has taken a long time and there hasn't been enough communication. But in the end what is important is that SB makes good on the refund deal he offered in December. Call me naive, but I think he is going to.

[ibuyltc]

I was just about to post this... Thanks DMCDAD.  It would be pretty cool to see an SB Post tho...

[dmcdad]

I was just about to post this... Thanks DMCDAD.  It would be pretty cool to see an SB Post tho...

Agreed. It wouldn't surprise me if he doesn't come back here ever, or at least until the refunds are processed. It is just too toxic, and he knows what is really important here are the refunds.

[Lollaskates]

Yeah, got the email as well.

It's sad that we'll only see a partial refund, though it's better than nothing. It's a double wince of pain that we paid in BTC and it was "held" from us instead of refunded to us as bitcoin ramped up to the $1k range. Now it will be given back to us at the ~$130 rate. Welp. Pretty sure when people were refunded for chips you should have refunded their 35% assembly right then and there. Poor form.

[dmcdad]

I'm not following you.

While we are not responsible for fluctuations in the exchange rate, we have chosen to lock the rate to that of Sept. 11th, the day we announced we would be accepting assembly refund requests, in order to attempt to help ease the BTC losses of our customers. The exchange rate will be $126.61 per BTC, based on the price history of Coinbase.

How in the world is it a bad thing that he is refunding at the $126.61 / BTC rate?

[Lollaskates]

I'm not following you.

While we are not responsible for fluctuations in the exchange rate, we have chosen to lock the rate to that of Sept. 11th, the day we announced we would be accepting assembly refund requests, in order to attempt to help ease the BTC losses of our customers. The exchange rate will be $126.61 per BTC, based on the price history of Coinbase.

How in the world is it a bad thing that he is refunding at the $126.61 / BTC rate?

I think I mis-interpreted what was written. I interpreted

As such, the refunds will be processed based on the USD price of the units, and remitted in BTC

as the USD value represented in BTC (basically peanuts.)  

I did find it odd the following sentences after about exchange rate. It seems you're right, I hope you're right. Though I find it odd that he held on to the money originally because money was short, and now he's got excess money to give us such a good (and fair) exchange rate? With that exchange rate, we'll very nearly make back the full USD balance we originally spent (so that 35% refund feels more like 100% given the bitcoin multiplier present-day.). Why not just say 100% USD refund in that case? Why complicate it?

[trigeek]

I'm not following you.

While we are not responsible for fluctuations in the exchange rate, we have chosen to lock the rate to that of Sept. 11th, the day we announced we would be accepting assembly refund requests, in order to attempt to help ease the BTC losses of our customers. The exchange rate will be $126.61 per BTC, based on the price history of Coinbase.

How in the world is it a bad thing that he is refunding at the $126.61 / BTC rate?

I think I mis-interpreted what was written. I interpreted

As such, the refunds will be processed based on the USD price of the units, and remitted in BTC

as the USD value represented in BTC (basically peanuts.) 

I did find it odd the following sentences after about exchange rate. It seems you're right, I hope you're right.

Let's say you are due a refund of $126.61.  At a rate of $126.61, your refund is 1 BTC.  At a rate of 785.53 (the current price on bitstamp) that's 0.16 BTC.  It's kind of obvious which one is better here...