Off-Topic

[hammurabi]

However, if they do have the bitcoins, I can't see a US court demanding them return the bitcoins, but rather the dollar value

Why not? With bitcoin, people can prove beyond a shadow of a doubt that they own their btc address and paid terrahash via a tx id.

Does anybody have terrahash,s payment address?

You can find the stash here. And updated calculations based on current XBT price.

Any news to share with us?
Have Yifu refunded chip batches?
Are we waiting for something?
Have you reused/planning to reuse our parts in your mining enterprise?
Can you describe what is the purpose of the stash tracked (below) by fire5?
Do you have timeline of how and when refunds will be handled?

Thx.

BTC from customer payments - https://blockchain.info/address/1LMr1hz5Usk8eFNf4XQbbeaYGWNpFBYbVy
Stash - https://blockchain.info/address/18rKLM23mwJWFB9PPyDWQrPLXWRcp2srZh

Currently the mentioned amount of BTC3,471.86046069 in TH stash divided by 40.000 chips ordered equals to BTC0.086775 per chip.
Which should be available at hand for immediate refunds.

Which is BTC1.3884 per K16. Or $208.26 now.
Which is BTC5.5536 per K64. Or $833.04 now.

(Assuming current btc price ~$150).
And still there is a lot of parts for reuse or sell.

Why is TH not taking action and taking advantage of current exchange price?

Quick Update (2013-10-22):
Current Bitcoin Best Bid aquired from https://bitpay.com/bitcoin-exchange-rates is $181
Which is BTC1.3884 per K16. Or $250+ now.
Which is BTC5.5536 per K64. Or $1000+ now.

That means that from this point on TH have enough money to issue full refunds and still exit with a profit from the failure.
It also means that from this point forward withholding refunds equals to taking an additional unnecessary risk on consumers' money by TerraHash.

Quick Update (2013-11-07):
TerraHash is unavailable since 2013-09-30 and does not respond to any communication channels.
Current Bitcoin Best Bid aquired from https://bitpay.com/bitcoin-exchange-rates is $293
Which is BTC1.3884 per K16. Or $405+ now.
Which is BTC5.5536 per K64. Or $1625+ now.

So TerraHash could repay us 1.5 times over from chips refund alone.

Update (2013-12-06)
Current Bitcoin Best Bid aquired from https://bitpay.com/bitcoin-exchange-rates is $744
Which is BTC1.3884 per K16. Or $1032+ now.
Which is BTC5.5536 per K64. Or $4131+ now.

So TerraHash could repay us 4.59 times over from chips refund alone.

Terrahash is silent again. Probably filed documents for bankruptcy prior to 2013-12-06.
http://www.sccaseinfo.org/pa6.asp?full_case_number=1-13-CV-254284&crumbs=Civil%20Index&crumbs=Party/Case%20Type%20Search&crumbs=Party/Case%20Type%20Results&crumbs=Cases%20Involving%20Amir%20Khan

[Biomech]

However, if they do have the bitcoins, I can't see a US court demanding them return the bitcoins, but rather the dollar value

Why not? With bitcoin, people can prove beyond a shadow of a doubt that they own their btc address and paid terrahash via a tx id.

Does anybody have terrahash,s payment address?

Because bankruptcy courts deal in dollar value. They would view bitcoin as a salable asset for forfeiture to the estate's liabilities.

[LostDutchman]

anyone in the US familiar with court rulings in these kinds of cases inasmuch as if amir is ordered to refund the plaintiff for this case, is he automatically branded a fraud and all cases should be refunded en masse? or does everyone now have to file individual case?

The unfortunate truth is that it depends on the day. It does, however, pave the way for any number of civil suits. Unfortunately, a judgment for civil relief can be discharged in bankruptcy.

I think Lost Dutchman is correct. Most of you are screwed. Which really sucks, even to the observer, because it will make bitcoin related transactions even more "suspect" by the general public.

However, if they do have the bitcoins, I can't see a US court demanding them return the bitcoins, but rather the dollar value of the equipment purchased. So, if as has been speculated, they are sitting on a large chunk of coin, the courts (bankruptcy and otherwise) could order the bitcoin sold for dollars and disburse it to the creditors in the bankruptcy case. Direct investors would likely be reimbursed ahead of customers, but you still might get something. Considering the difference in bitcoin price from august to now, maybe quite a bit. But this would only be likely IF they are sitting on the coins and didn't blow through all the monies they collected.

Thank you for your reply.

Most corporations slect December 31 as the end of the tax year for the corporation, so it would make sense that a Chapter proceeding would be filed before that date in order to save legal fees, in that it would save the filer from having to deal with another tax year.

As far as personal bankruptcies, that remains to be seen and might not even have to happen.

Concerning mining for Terrahash itself by Terrahash, they could mine like Hell with equipment and then "lose" the password or the wallet.

"Oops!  Acciidently flushed the dirve down the pooper!"

Happens all the time; check threads regarding such things on this very forum.

I think the money and the product is gone, enver to be seen again by investors.

My $.02.

[zurg]

Will SantaHash be coming this year with wonderful refunds?!

Hanukkahash is nearly over already.
Lol

Hanukkahash?  lol, that's pretty good hey zurg...sup, looks like the same ol same ol in here lol...me I have been mining my ass off scrypt mining,,,, have made like 5,000 in a matter of 3 weeks...lol and am investing weekly with cex.io let them do the asic work lol,,, ok we better watch btc price?  I just bought 2 new Radeon 7870's I'm counting on 30.00 a day income from them!!!! later
MMNC

Hey buddy!
Yeah, same here.. scrypt and whatever my BF 45Gh/s brings me, lol.. which is not much these days, lol
Picking me up 2 X3's from BlackArrow.. at least hoping their wont pull a TH on me , lmao.

[atomicchaos]

Adding to my Scrypt farm, instead of pursuing any other ASICs than this one turned out to be the best move ever.

Nearing 100,000 kh/s, and it has made me more than BTC would have with ASICs.

[zurg]

Adding to my Scrypt farm, instead of pursuing any other ASICs than this one turned out to be the best move ever.

Nearing 100,000 kh/s, and it has made me more than BTC would have with ASICs.

GPU farm?

[atomicchaos]

Adding to my Scrypt farm, instead of pursuing any other ASICs than this one turned out to be the best move ever.

Nearing 100,000 kh/s, and it has made me more than BTC would have with ASICs.

GPU farm?

Yep.

[zurg]

Adding to my Scrypt farm, instead of pursuing any other ASICs than this one turned out to be the best move ever.

Nearing 100,000 kh/s, and it has made me more than BTC would have with ASICs.

GPU farm?

Yep.

Wow, pics or it doesn't exist. 
Lol

[atomicchaos]

I've posted pics many times. Here's one while it was half the size it is now:

[LostDutchman]

I've posted pics many times. Here's one while it was half the size it is now:

Very nice!

I like it!

Everybody always wants  a pic though and I think that is pretty funny.

Quite along the lines of what we are going to do!

My $.02.

[atomicchaos]

I've posted pics many times. Here's one while it was half the size it is now:

Very nice!

I like it!

Everybody always wants  a pic though and I think that is pretty funny.

Quite along the lines of what we are going to do!

My $.02.

My advantage is that I've been running since April, have very cheap power (.048 kw/h) and I bought my cards cheaply..

[zurg]

I've posted pics many times. Here's one while it was half the size it is now:

Very nice!

I like it!

Everybody always wants  a pic though and I think that is pretty funny.

Quite along the lines of what we are going to do!

My $.02.

My advantage is that I've been running since April, have very cheap power (.048 kw/h) and I bought my cards cheaply..

I hope your advantage included not selling any Litecoins until now.

[atomicchaos]

I hope your advantage included not selling any Litecoins until now.

Indeed it did. I sold many, but I also held about 3 months worth prior to the increase. I sold a bunch in the low 40's too, and now have my cold storage and what I mine left. Tip: Always set aside a certain percentage for cold storage and keep it cold, no matter what.

[bearsworth]

This is a disservice to the hard work of people and God. I hope the people working under Terrahash can repay the debts they owe and amend for their wrongful actions.

[zurg]

Well, it's been over a month since last TH visit.

I think it's time for Amir to show up and say that everything is still going according to "his" plan. Refunds for everyone in 2x the amount.
/sarcasm off

Just checking..

[chanberg]

Well, it's been over a month since last TH visit.

I think it's time for Amir to show up and say that everything is still going according to "his" plan. Refunds for everyone in 2x the amount.
/sarcasm off

Just checking..

think its time for you to make another visit and take photos of Amir living in the office again

Danny

[fire5]

Sites down because of non payment, https://terrahash.com

2 Small Claims case's is happening today against TH.

[zurg]

Sites down because of non payment, https://terrahash.com

2 Small Claims case's is happening today against TH.

It was actually up about 2 days ago I think.
Go figure...

[MinermanNC]

I've posted pics many times. Here's one while it was half the size it is now:

Hey Atomic,,, sweet! I never doubted you back in July when you said you had 60k m/h lol,,,, likewise I have not purchased any asic gear, and have built up my gpu farm as well,,,, power eats me up tho... 11.3 kwh I'm no where near the size of your farm! I'm over 5k lol,,,, but also mine src and have 58 cpus and growing fast! lol (use a lot less power) I got a line on cheap (2  x 4)8 core dell servers.... and lastly I have 25 ghash btc on cex.io all in all about $500 a week at the moment.... looking at 2x7990's now hope to snag after Christmas...ok
Merry Christmas everyone! keep on mining!
MMNC

[yan_jp]

Does anyone get new message from TH? Anyone still waits for the bitcoin refund???