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lijji
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October 10, 2013, 07:53:19 PM
 #4821

Well, this thread died.  Guess TH made off with all our money.  Does anyone have any updates regarding law suits again them.  I know bar was organizing something.
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LostDutchman
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October 10, 2013, 07:55:09 PM
 #4822

For some reason the old trite adage which says that you can't get blood from a turnip comes to mind.............

Wink

My $.02.

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October 10, 2013, 08:00:44 PM
 #4823

Spent a couple of hours reading this thread and wow, just wow...

Good luck to all you TH customers, sounds like you will need it.  Sad
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October 10, 2013, 08:10:06 PM
 #4824

Spent a couple of hours reading this thread and wow, just wow...

Good luck to all you TH customers, sounds like you will need it.  Sad

You missed about half it due to some users deleting their posts in this thread.

♫ This situation, which side are you on? Are you getting out? Are you dropping bombs? Have you heard of diplomatic resolve? ♫ How To Run A Cheap Full Bitcoin Node For $19 A Year ♫ If I knew where it was, I would take you there. There’s much more than this. ♫ Track Your Bitcoins Value
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October 10, 2013, 11:14:20 PM
 #4825

Spent a couple of hours reading this thread and wow, just wow...

Good luck to all you TH customers, sounds like you will need it.  Sad

You missed about half it due to some users deleting their posts in this thread.
Also see the prequel https://bitcointalk.org/index.php?topic=198448.msg2064470#msg2064470

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October 11, 2013, 03:07:33 AM
 #4826

Spent a couple of hours reading this thread and wow, just wow...

Good luck to all you TH customers, sounds like you will need it.  Sad

You missed about half it due to some users deleting their posts in this thread.
Also see the prequel https://bitcointalk.org/index.php?topic=198448.msg2064470#msg2064470

oh my... shouldve known...

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Phinnaeus Gage
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October 11, 2013, 03:34:32 AM
 #4827

Some points to consider before accusing us of scam:
1. We stopped taking orders as soon as we had enough orders to account for the chips we ordered. If we were a scam, we would have continued taking orders and could have easily raised double the money we did.
2. We spent hundreds of thousands of dollars on components, heat sinks, cases, boards, cables. For people saying that its "only a few resistors", look at the BOM provided by BkkCoins. It says components cost around $23 for a K16. And this does not include the heat sinks (~$14), boards etc. For each K16, the components including the heat sink, board, power cables, etc. cost us around $45. And we were prepared to assemble around 5,000 K16s (for 80,000 chips). There goes $250,000. Why 80,000 chips? We had ordered 40,000 of our own and had at least 4 other parties who were going to get their boards assembled from us. But guess what? Tired of the delays from Yifu, they all ended up getting a refund from Avalon.
3. We spent so much time and effort trying to source the really hard to get components. You can go read the Klondike thread where everyone is discussing the shortage of the PICs, the IR3895s, and others. But we have all the components, we even overpaid to get some of them. Show me a scammer who would do that.
4. For the components that even we could not get, we invested a lot of time to search for alternates. For example, the Power Inductor 38L361C was not available anywhere, so we instead bought SPM10040T-R36M170. But the latter was not pin compatible with the former. So we ended up changing the circuit board. I will publish the updated KiCad files. Would a scammer go through all this trouble? Anyone with half a brain can answer this.

If we were a scam, we would have disappeared on June 20th.

Why going out of business?
I am really sick and tired of all the scam accusations. I appreciate all the negative criticism that the community does, resulting in catching scams in early stages in order to protect the newer members of the community. But baseless scam accusations from day one have taken their toll on our company. The FUD spread by a few members (along with the delay from Yifu) lead to a lot of refund requests. The result of which was that, if we continued with the project, we would have been left with inventory worth hundreds of thousands of dollars in our hands. And it would have been almost impossible to sell it at a price where we could even break even. Even if nobody asked for a refund, we would still have been left with about $125,000 worth of useless components (read point 4 above). But with about half of our customers asking for a refund, we would be stuck with another $350,000 worth of inventory that we couldn't have sold for more than $150,000, putting us under red for over $300,000. I am sorry, but I am not running a charity. It made much more sense to ask for a refund from Yifu and pay back as much as possible, without going into debt.

Why only a 50% refund?
With people who paid with PayPal taking a 100% refund, it leaves a lesser share for everyone else. I am sorry, but that's how it is. We do not want to be owing hundreds of thousands to PayPal. Also, with some customers contacting our bank with fraud accusations, Chase has shut down our bank accounts. In my opinion they were just looking for an excuse. They have already contacted us in the past, asking for more information about our business, just because we were a "Bitcoin related business."

Patience is a virtue
Now, you can either be content with the turnout of the whole fiasco and stop attacking me personally, and wait for your refunds. Or, you continue accusing me of being a scammer, and continue publishing my addresses publicly and tarnishing my image. Its up to you. Some of you have already done a lot of irreparable damage, not just to me but to all the TerraHash customers. And please remember, that there is only so much that I can take. If pushed into a corner, I will defend myself.

Meanwhile, at the ranch...
LostDutchman
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October 11, 2013, 03:42:25 AM
 #4828

I beleive this a deal that did not work out; the money is gone and everyone loses.

I do not believe there was any real intent on the part of Terrahash to defraud but most probably a lot of blinders on and when the defecation hit the air handler, they ran away.

After all, Terrahash was funded in significant part by Cloudhashing as you will find proof of here:

http://bflfraud.com/chat-logs/

Makes the most sense for them to run away but the investors are left hanging.

My $.02.


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duke1839
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October 11, 2013, 07:46:03 PM
 #4829

I beleive this a deal that did not work out; the money is gone and everyone loses.

I do not believe there was any real intent on the part of Terrahash to defraud but most probably a lot of blinders on and when the defecation hit the air handler, they ran away.

After all, Terrahash was funded in significant part by Cloudhashing as you will find proof of here:

http://bflfraud.com/chat-logs/

Makes the most sense for them to run away but the investors are left hanging.

My $.02.



I don't understand what you mean.  I may be an investor but my relationship with TerraHash is that I am a customer.  I paid for a product that was never delivered.  How does it make sense for them to run away and leave their customers without a product or a refund?  Everyone loses?  If I took payments for a product from hundreds of customers and never delivered a product and I made off with the money how did I lose?  TerraHash owes me money and I intend to collect.

1839REgeNTM2b84byywinp3BjtWdEqw27x
aznewsh
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October 12, 2013, 02:41:54 AM
 #4830

Well, this thread died.  Guess TH made off with all our money.  Does anyone have any updates regarding law suits again them.  I know bar was organizing something.

Bar is terrahash - just another pretend account to make you guys stall
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October 12, 2013, 02:43:31 AM
 #4831

Well, this thread died.  Guess TH made off with all our money.  Does anyone have any updates regarding law suits again them.  I know bar was organizing something.

Bar is terrahash - just another pretend account to make you guys stall

Nope, incorrect.
aznewsh
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October 12, 2013, 02:50:41 AM
 #4832

Well, this thread died.  Guess TH made off with all our money.  Does anyone have any updates regarding law suits again them.  I know bar was organizing something.

Bar is terrahash - just another pretend account to make you guys stall

Nope, incorrect.

You all be be the judge - look back at all the posts where he is constantly sings their praises and aggressively defends them whenever anybody says a bad word against them - oh that's right now the shit has hit the fan he deleted them all - all is forgiven!

You sir are full of shit!
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October 12, 2013, 02:59:19 AM
 #4833

Well, this thread died.  Guess TH made off with all our money.  Does anyone have any updates regarding law suits again them.  I know bar was organizing something.

Bar is terrahash - just another pretend account to make you guys stall

Nope, incorrect.

You all be be the judge - look back at all the posts where he is constantly sings their praises and aggressively defends them whenever anybody says a bad word against them - oh that's right now the shit has hit the fan he deleted them all - all is forgiven!

You sir are full of shit!

Internet Sleuth, your skills of deduction are astonishing... well except for the fact that you are completely wrong. But don't let that get in your way, carry on being incorrect.

Actually, I shook Mr. Phinnaeus Gage's hand at the recent Atlanta Conference, I don't believe he got the impression that I was "Terrahash" but hey what do I know I'm no Internet sleuth like yourself.
LostDutchman
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October 12, 2013, 03:32:43 AM
 #4834

I beleive this a deal that did not work out; the money is gone and everyone loses.

I do not believe there was any real intent on the part of Terrahash to defraud but most probably a lot of blinders on and when the defecation hit the air handler, they ran away.

After all, Terrahash was funded in significant part by Cloudhashing as you will find proof of here:

http://bflfraud.com/chat-logs/

Makes the most sense for them to run away but the investors are left hanging.

My $.02.



I don't understand what you mean.  I may be an investor but my relationship with TerraHash is that I am a customer.  I paid for a product that was never delivered.  How does it make sense for them to run away and leave their customers without a product or a refund?  Everyone loses?  If I took payments for a product from hundreds of customers and never delivered a product and I made off with the money how did I lose?  TerraHash owes me money and I intend to collect.

Well, it's like this......

.if one takes a bunch of money for anything which is not completed or performed and things go to Hell, and it looks as though that is what is happening, it is both good and bad for the company involved.

It is good that for the company in that the company may have some cash lying about after the crash so the principals will be able to eat; bad for the customers or "investors" as there will be no money for refunds.

The company also is not able to achieve its goals, thereby making it a loser on that part.

Beginning to look like what could have been a good deal gone very, very bad.

Losers all 'round.

In any case, should this scenario transpire, the "customers" or "investors", if you will lose.

Again, let me clearly state that I do not believe that Terrahash was set up for any kind of fraudulent intent but "stuff" does happen.

I am sorry that this may happen as I did believe that Terrahash would make it and I stil continue to hope for the best.

My $.02.

Smiley



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Phinnaeus Gage
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October 12, 2013, 03:34:20 AM
 #4835

Well, this thread died.  Guess TH made off with all our money.  Does anyone have any updates regarding law suits again them.  I know bar was organizing something.

Bar is terrahash - just another pretend account to make you guys stall

Nope, incorrect.

You all be be the judge - look back at all the posts where he is constantly sings their praises and aggressively defends them whenever anybody says a bad word against them - oh that's right now the shit has hit the fan he deleted them all - all is forgiven!

You sir are full of shit!

Internet Sleuth, your skills of deduction are astonishing... well except for the fact that you are completely wrong. But don't let that get in your way, carry on being incorrect.

Actually, I shook Mr. Phinnaeus Gage's hand at the recent Atlanta Conference, I don't believe he got the impression that I was "Terrahash" but hey what do I know I'm no Internet sleuth like yourself.

Damn, I wish I could put a face with you or recall what our conversation pertained to. Either way, I don't have a horse in this race, but am taken aback by this unfortunate event.
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October 12, 2013, 03:37:14 AM
 #4836

Well, this thread died.  Guess TH made off with all our money.  Does anyone have any updates regarding law suits again them.  I know bar was organizing something.

Bar is terrahash - just another pretend account to make you guys stall

Nope, incorrect.

You all be be the judge - look back at all the posts where he is constantly sings their praises and aggressively defends them whenever anybody says a bad word against them - oh that's right now the shit has hit the fan he deleted them all - all is forgiven!

You sir are full of shit!

Internet Sleuth, your skills of deduction are astonishing... well except for the fact that you are completely wrong. But don't let that get in your way, carry on being incorrect.

Actually, I shook Mr. Phinnaeus Gage's hand at the recent Atlanta Conference, I don't believe he got the impression that I was "Terrahash" but hey what do I know I'm no Internet sleuth like yourself.

Damn, I wish I could put a face with you or recall what our conversation pertained to. Either way, I don't have a horse in this race, but am taken aback by this unfortunate event.

I came over and shook your hand for that hilarious comment during the conference about some new bitcoin hardware that hasn't come out yet. Come to think of it, I'm sure a lot of people did the same, it was during the reception next to the KnC Jupiter miner.
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October 12, 2013, 03:41:28 AM
 #4837

Well, this thread died.  Guess TH made off with all our money.  Does anyone have any updates regarding law suits again them.  I know bar was organizing something.

Bar is terrahash - just another pretend account to make you guys stall

Nope, incorrect.

You all be be the judge - look back at all the posts where he is constantly sings their praises and aggressively defends them whenever anybody says a bad word against them - oh that's right now the shit has hit the fan he deleted them all - all is forgiven!

You sir are full of shit!

Internet Sleuth, your skills of deduction are astonishing... well except for the fact that you are completely wrong. But don't let that get in your way, carry on being incorrect.

Actually, I shook Mr. Phinnaeus Gage's hand at the recent Atlanta Conference, I don't believe he got the impression that I was "Terrahash" but hey what do I know I'm no Internet sleuth like yourself.

Damn, I wish I could put a face with you or recall what our conversation pertained to. Either way, I don't have a horse in this race, but am taken aback by this unfortunate event.

I came over and shook your hand for that hilarious comment during the conference about some new bitcoin hardware that hasn't come out yet. Come to think of it, I'm sure a lot of people did the same, it was during the reception next to the KnC Jupiter miner.

Was it next to the Bitcoin Magazine table just before Austin and Beccy's talk? I remember Charles and maybe it was Adam shaking my hand after the last panel.
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October 12, 2013, 03:44:47 AM
 #4838

Well, this thread died.  Guess TH made off with all our money.  Does anyone have any updates regarding law suits again them.  I know bar was organizing something.

Bar is terrahash - just another pretend account to make you guys stall

Nope, incorrect.

You all be be the judge - look back at all the posts where he is constantly sings their praises and aggressively defends them whenever anybody says a bad word against them - oh that's right now the shit has hit the fan he deleted them all - all is forgiven!

You sir are full of shit!

Internet Sleuth, your skills of deduction are astonishing... well except for the fact that you are completely wrong. But don't let that get in your way, carry on being incorrect.

Actually, I shook Mr. Phinnaeus Gage's hand at the recent Atlanta Conference, I don't believe he got the impression that I was "Terrahash" but hey what do I know I'm no Internet sleuth like yourself.

Damn, I wish I could put a face with you or recall what our conversation pertained to. Either way, I don't have a horse in this race, but am taken aback by this unfortunate event.

I came over and shook your hand for that hilarious comment during the conference about some new bitcoin hardware that hasn't come out yet. Come to think of it, I'm sure a lot of people did the same, it was during the reception next to the KnC Jupiter miner.

Was it next to the Bitcoin Magazine table just before Austin and Beccy's talk? I remember Charles and maybe it was Adam shaking my hand after the last panel.

It was after that at the reception (after we toasted Austin and Beccy I believe) You were probably talking to Luke_Jr or Bitcoinorama (Guy in the KnC Shirt). Either way it's not important.

Not sure why I even respond to the crazy accusations being thrown around in this thread.
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October 12, 2013, 04:52:16 AM
 #4839

I beleive this a deal that did not work out; the money is gone and everyone loses.

I do not believe there was any real intent on the part of Terrahash to defraud but most probably a lot of blinders on and when the defecation hit the air handler, they ran away.

After all, Terrahash was funded in significant part by Cloudhashing as you will find proof of here:

http://bflfraud.com/chat-logs/

Makes the most sense for them to run away but the investors are left hanging.

My $.02.



I don't understand what you mean.  I may be an investor but my relationship with TerraHash is that I am a customer.  I paid for a product that was never delivered.  How does it make sense for them to run away and leave their customers without a product or a refund?  Everyone loses?  If I took payments for a product from hundreds of customers and never delivered a product and I made off with the money how did I lose?  TerraHash owes me money and I intend to collect.

Well, it's like this......

.if one takes a bunch of money for anything which is not completed or performed and things go to Hell, and it looks as though that is what is happening, it is both good and bad for the company involved.

It is good that for the company in that the company may have some cash lying about after the crash so the principals will be able to eat; bad for the customers or "investors" as there will be no money for refunds.

The company also is not able to achieve its goals, thereby making it a loser on that part.

Beginning to look like what could have been a good deal gone very, very bad.

Losers all 'round.

In any case, should this scenario transpire, the "customers" or "investors", if you will lose.

Again, let me clearly state that I do not believe that Terrahash was set up for any kind of fraudulent intent but "stuff" does happen.

I am sorry that this may happen as I did believe that Terrahash would make it and I stil continue to hope for the best.

My $.02.

Smiley




You are up to like $.08 or $.10 - for someone who doesn't even have a dog in this fight.

Why are you posting here, sir?  Are you hoping to WOW us with your pseudo-intellectual talk of deity or religious dogmas?  Or perhaps your ability to extrapolate on a fairly obvious situation and create more uncertainty and unrest amongst the group (to which you don't belong)?

With all due respect, I don't believe you have added much value in any of your posts here.  Perhaps you should leave the speculating to those who have been affected by this situation?
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October 12, 2013, 03:10:14 PM
 #4840

Well, this thread died.  Guess TH made off with all our money.  Does anyone have any updates regarding law suits again them.  I know bar was organizing something.

Bar is terrahash - just another pretend account to make you guys stall

Nope, incorrect.

You all be be the judge - look back at all the posts where he is constantly sings their praises and aggressively defends them whenever anybody says a bad word against them - oh that's right now the shit has hit the fan he deleted them all - all is forgiven!

You sir are full of shit!

Internet Sleuth, your skills of deduction are astonishing... well except for the fact that you are completely wrong. But don't let that get in your way, carry on being incorrect.

Actually, I shook Mr. Phinnaeus Gage's hand at the recent Atlanta Conference, I don't believe he got the impression that I was "Terrahash" but hey what do I know I'm no Internet sleuth like yourself.

Damn, I wish I could put a face with you or recall what our conversation pertained to. Either way, I don't have a horse in this race, but am taken aback by this unfortunate event.

I came over and shook your hand for that hilarious comment during the conference about some new bitcoin hardware that hasn't come out yet. Come to think of it, I'm sure a lot of people did the same, it was during the reception next to the KnC Jupiter miner.

Was it next to the Bitcoin Magazine table just before Austin and Beccy's talk? I remember Charles and maybe it was Adam shaking my hand after the last panel.

It was after that at the reception (after we toasted Austin and Beccy I believe) You were probably talking to Luke_Jr or Bitcoinorama (Guy in the KnC Shirt). Either way it's not important.

Not sure why I even respond to the crazy accusations being thrown around in this thread.

lol Bar this is priceless. . . . *waves* . . .you respond because it's entertaining. . . .
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