Liquid Synergy Designs Inc. -ASIC mining hardware

[KyrosKrane]

by the end of this week (1/7/2014)

I assume you actually meant Feb. 7? Or is this from last month?

[cardcomm]

by the end of this week (1/7/2014)

I assume you actually meant Feb. 7? Or is this from last month?

Ack! Thanks for noticing my typo. Fixed and re-signed.

[Crindon]

Steamboat, any news? I still have not received the refund email which was due last week. What's causing these delays? I am growing impatient.

[professorY]

I seriously doubt that he's still reading this forum.

[dmcdad]

I just got an email from SB with the refund information. I'm verifying the total now.

[jml25]

I just got an email asking for verification of the btc address to send the refund to. Still reading but appears to be another step in the correct direction.

I have not checked all the percentages and such yet but looks right (I had 3 units with full assembly and testing and the refund quoted is 1.13 btc.)

[bigbeninlondon]

I just got an email from SB with the refund information. I'm verifying the total now.

The total must be some portion of the assembly fee if the conversion rate published (~118 IIRC).  At that conversion, I calculate a $36.11 return for assembly + testing per unit.  Is that what everyone else is seeing?

[paulthetafy]

I'm confused.  I selected the hosted option so why am I receiving an email for an assembly refund? Do I still get my miners hosted after this if I accept the refund?

[Galli]

Numbers aren't adding up as I thought they would:

Fully Assembled:  $133.5 *25% = $33.75
Hosting: $15 *100% = $15
Total/Unit = $48.75

Conversion $48.75/126.61 = .385041 per unit

I've received an offer for .315931 per unit

Thoughts?

[Stringchains]

The total must be some portion of the assembly fee if the conversion rate published (~118 IIRC).  At that conversion, I calculate a $36.11 return for assembly + testing per unit.  Is that what everyone else is seeing?

Yes, this sounds right. Steamboat says it would be 25% of the full amount as that is all he has left.

Assembly refunds:

Very little of the funds received remain to process refund requests. We understand our announcement of a 25% refund of assembly costs, and 100% of the shipping and hosting fees played a large part in our customer’s decision to request a refund.

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

Found the best summary of the promised refund from SB:
https://bitcointalk.org/index.php?topic=192916.msg3808613#msg3808613

[dmcdad]

Okay, based on my calculation SB did peg the refund at an exchange rate of $123.50. If I multiply $123.50 by my proposed BTC refund amount I get a nice even dollar+cents amount.

I then subtract out shipping and hosting fees (100% refunded) AND I subtract out the $10/board extra I paid for fully assembled units [vs DIY kit] (100% refunded). You then divide the remaining balance by the number of boards and get $15 which is 25% of the $60 assembly cost.

It wasn't calculated exactly how I guessed it might be originally, but I was able to make the calculation make sense and match his last post outlining the refund details.

What this leaves still on the table, as mentioned by SB in the email, are the components ($35 PCB and $28.50 DIY kit/fan). Perhaps SB will be able to use those and we will get a bit more back at some (likely very distant) future date. I'm not counting on getting anything really, but it would be nice.

Regardless, if the proposed refund does actually occur, then I think the refund is equitable given the shitty circumstances. SB pegging the exchange rate at $123.50 is generous IMO and goes a long way to making up for the refund process dragging on for months. I don't see how this refund is occurring without SB dipping into his own wallet.

[dmcdad]

Fully Assembled:  $133.5 *25% = $33.75

It is 25% of the $60 assembly charge it looks like, so the $35 PCB + components aren't factored into the refund. Maybe we'll get some back on those parts in the future, but I'm not counting on it.

Because you got fully assembled versus DIY kit, you do get a 100% refund of that assembly cost, which is $10 per board ($133.5-123.5).

So for those of us that did the fully assembled unit option, it comes out to $25 per board (25% of $60 + $10).

Then you get 100% refund for the shipping and the $15 setup fee for hosting if you chose hosting.

[jml25]

Okay, based on my calculation SB did peg the refund at an exchange rate of $123.50. If I multiply $123.50 by my proposed BTC refund amount I get a nice even dollar+cents amount.

I then subtract out shipping and hosting fees (100% refunded) AND I subtract out the $10/board extra I paid for fully assembled units [vs DIY kit] (100% refunded). You then divide the remaining balance by the number of boards and get $15 which is 25% of the $60 assembly cost.

It wasn't calculated exactly how I guessed it might be originally, but I was able to make the calculation make sense and match his last post outlining the refund details.

What this leaves still on the table, as mentioned by SB in the email, are the components ($35 PCB and $28.50 DIY kit/fan). Perhaps SB will be able to use those and we will get a bit more back at some (likely very distant) future date. I'm not counting on getting anything really, but it would be nice.

Regardless, if the proposed refund does actually occur, then I think the refund is equitable given the shitty circumstances. SB pegging the exchange rate at $123.50 is generous IMO and goes a long way to making up for the refund process dragging on for months. I don't see how this refund is occurring without SB dipping into his own wallet.

I kind of always figured the delay was due to him mining like hell with his klondikes to get the money together to do refunds...my suspicion is after these there won't be much in his wallet but who can say?

[cp1]

Thanks Steamboat, for making the best of a crappy situation.

[alfabitcoin]

At my calculation exchange is 126.51$ and 25% from 60$ assambly. Not included pcb and parts(35$).
If that is what sb meant by assambly refund then my refund is correct.

[ibuyltc]

Nobody has posted the email but here it is.

Thank you for your patience as we near the end of the Fusion16/Klondike project. Please find below the details of your order and the BTC refund amount, which includes the assembly and shipping/hosting fees. If the information is correct, please click the accept link. If there is an error, please click the change information link to input the corrected information.

A prototype unit which reuses a large portion of the components has been developed with testing and debugging underway, but it is unclear as to whether the unit can be manufactured with a reasonable chance of ROI. In the event the decision is made to sell the remaining component stock, an email with further information will follow.


Bitcoin Address to receive refund:

Assembly:

DIY Kit:

Full Assembly:

Full Assembly + Testing:

Refund Amount: BTC

I've bolded the part above that most people seem to have missed.  Any clues.. I imagine as loyal LSD followers we would get first dibs on such an item

[PeZ]

I got the same offer but under assembly + testing it shows zero units. Hosting was suppose to include testing.

Numbers aren't adding up as I thought they would:

Fully Assembled:  $133.5 *25% = $33.75
Hosting: $15 *100% = $15
Total/Unit = $48.75

Conversion $48.75/126.61 = .385041 per unit

I've received an offer for .315931 per unit

Thoughts?

[mwm4bcf]

I also received the refund e-mail, which didn't include what I paid for full assembly/testing and hosting.

The "Not correct" link in the e-mail won't work for me in either firefox or IE.

Also, the bitcoin address for refund in the message was incorrect (not mine).

[paulthetafy]

I also received the refund e-mail, which didn't include what I paid for full assembly/testing and hosting.

The "Not correct" link in the e-mail won't work for me in either firefox or IE.

Same for me, I paid for full testing and hosting but this is not reflected in the email and refund amount, and the "Not correct" link doesn't work. 

[alfabitcoin]

I think testing was free for hosting. And dont include 35$(pcb and parts) in 25% refund calculation only 60$ are for 25%.