Off-Topic

[Bitcoinorama]

So has anyone stopped by TH for an in person visit yet?

i'm curious about this one too

As I've already said; If THash wants to fly me to sunny LA for a BitcoinOrama report, i'm happy to oblige. Weather in London is pants!

[coinsquirrel]

T-minus 3.5 hrs

[joeventura]

T-minus 3.5 hrs

And still no proof chips have been ordered.

[hyperdallas]

T-minus 3.5 hrs

And still no proof chips have been ordered.

Which is why i am happy and sad also, what i am happy about is that i will pay with papyal. And they say they get chips mid july?, paypal has like 2 month time to dispute transactions? So if they turn out to be a scam we (i) can get our money back =)

[Bitcoinorama]

T-minus 3.5 hrs

And still no proof chips have been ordered.

Which is why i am happy and sad also, what i am happy about is that i will pay with papyal. And they say they get chips mid july?, paypal has like 2 month time to dispute transactions? So if they turn out to be a scam we (i) can get our money back =)

Longer if you pay by credit card (check with issuing bank beforehand)

[Streets 2.0]

Here is my take on it guys.

Terrahash is legit, and just like KNCMiner, they want to deliver.  The insane jumps in difficulty make it hard to pull the trigger on these boards, though, considering the low GH/$ ratio.  I have a priority account, and up till about 3 weeks ago was all set to order once TH went live.  Now, I am fighting internally, do I order or don't I...? it is something that has kept me up the last two nights.  If I order now, I run a very high risk not seeing any ROI, if I wait for more refined tech I could miss the boat.  The Jupiters and Saturn devices are very intriguing considering the GH/$, and if they can deliver in a reasonable time frame my wait and see approach will end up being the right decision.  Time is counting down on these pre-orders... I have always felt that I need to trust my gut, and typically do, but this situation is much harder to discern.  The question is, drop a ridiculous amount of money for 180GH now (works out to about 9k USD), or order a Saturn for $3800 (now knowing they are legit, thanks to Bitcoinorama)?

What does your gut tell you?

[Bitcoinorama]

Here is my take on it guys.

Terrahash is legit, and just like KNCMiner, they want to deliver.  The insane jumps in difficulty make it hard to pull the trigger on these boards, though, considering the low GH/$ ratio.  I have a priority account, and up till about 3 weeks ago was all set to order once TH went live.  Now, I am fighting internally, do I order or don't I...? it is something that has kept me up the last two nights.  If I order now, I run a very high risk not seeing any ROI, if I wait for more refined tech I could miss the boat.  The Jupiters and Saturn devices are very intriguing considering the GH/$, and if they can deliver in a reasonable time frame my wait and see approach will end up being the right decision.  Time is counting down on these pre-orders... I have always felt that I need to trust my gut, and typically do, but this situation is much harder to discern.  The question is, drop a ridiculous amount of money for 180GH now (works out to about 9k USD), or order a Saturn for $3800 (now knowing they are legit, thanks to Bitcoinorama)?

What does your gut tell you?

KnC is a legit company for sure, but there is still risk to what and when they can deliver, that said they are very smart and have minimised risk wherever possible. There is still risk though. Their chip has to work from the get go on delivery in Sept.

The biggest risk is the BTC price, and mass adoption as a payment option, outside of miner's hoarding, esp. as peeps drop coins to recoup ROI in fiat to pay themselves (and hopefully not consumer debt back) for the miner outlay. BTC will drop with mass selling. Your hedge is purely the future price of BTC in my eyes. I think both choices of KnC and Terrahash delivered in the next 3-6 months will ROI at least...

From what I understand is Terrahash have an office and are happy to let you sleep in their waiting room until your baby is born...

You red to see proof of chip order first though, my fear is Terrahash may have ordered later than people expect. That's the only problem I foresee, well that and 64 chip cards, as they are still an unknown, not being seen working fully loaded...

[joeventura]

What does your gut tell you?

My gut tells me that if I was TH on the verge of a large offering of equipment, I would be ever present in this forum, providing whatever was needed to make my new potential customers comfortable with sending me their money. Yet with 2.5 hours to go until they start taking orders on devices that they do not have a working prototype on, they are absent.

Either they won't provide the proof that they ordered chips, or they will do it at the very last minute which is extremely suspicious.  

20,000 chips costs a lot of money.

All we have seen to date is a single 95% populated PCB, 30 avalon chips and some pictures of an office space.

It's borderline, barely enough data to get you comfortable, so my question is why not provide enough to get everyone warm and fuzzy?

[Bitcoinorama]

What does your gut tell you?

My gut tells me that if I was TH on the verge of a large offering of equipment, I would be ever present in this forum, providing whatever was needed to make my new potential customers comfortable with sending me their money. Yet with 2.5 hours to go until they start taking orders on devices that they do not have a working prototype on, they are absent.

Either they won't provide the proof that they ordered chips, or they will do it at the very last minute which is extremely suspicious.  

20,000 chips costs a lot of money.

All we have seen to date is a single 95% populated PCB, 30 avalon chips and some pictures of an office space.

It's borderline, barely enough data to get you comfortable, so my question is why not provide enough to get everyone warm and fuzzy?

+1. You need an acknowledged member to go and document meeting them in person with a pre-determined Q&A in mind (not plugging me again, anyone can do it). You need more evidence, you definitely need to ascertain when exactly those chips were ordered, wallet/blockchain transaction info at least. As of yet you have had a few pics of an empty serviced office.

[pixl8tr]

+1. You need an acknowledged member to go and document meeting them in person with a pre-determined Q&A in mind (not plugging me again, anyone can do it). You need more evidence. As of yet you have had a few pics of an empty serviced office.

I agree, I am hesitant also because of those facts, the adjusted prices, no proof of chip purchase and no working prototypes.  Margins would be slim if difficulty continues at 1.3% a day.  If it takes them more than 4 months to deliver. You may never see a return.  If BTC drops below 90 its a certainty.


I will sit this one out thank you.  

[kendog77]

Here is my take on it guys.

Terrahash is legit, and just like KNCMiner, they want to deliver.  The insane jumps in difficulty make it hard to pull the trigger on these boards, though, considering the low GH/$ ratio.  I have a priority account, and up till about 3 weeks ago was all set to order once TH went live.  Now, I am fighting internally, do I order or don't I...? it is something that has kept me up the last two nights.  If I order now, I run a very high risk not seeing any ROI, if I wait for more refined tech I could miss the boat.  The Jupiters and Saturn devices are very intriguing considering the GH/$, and if they can deliver in a reasonable time frame my wait and see approach will end up being the right decision.  Time is counting down on these pre-orders... I have always felt that I need to trust my gut, and typically do, but this situation is much harder to discern.  The question is, drop a ridiculous amount of money for 180GH now (works out to about 9k USD), or order a Saturn for $3800 (now knowing they are legit, thanks to Bitcoinorama)?

What does your gut tell you?

You could hedge your bets and not drop a rediculous amount of money now (instead of 180GH for 9k, order 90GH for 4.5k) and keep an eye on KncMiner.

If they look like they are making good progress on the Saturn, you can still order one before they start shipping.

IMHO, putting all your money into a pre-order with one company is very risky at the moment, so spreading it around should help mitigate risk.

[Bitcoinorama]

From my point of view, actually going an meeting the people you are wanting to invest in and determining for yourself if they are capable is the best thing you can do for yourself and your piece of mind.

If you want to sleep easy, pick the one closest to you and take a trip, meet them, suss them out and if anything disagrees with your expectations, or your gut, even if it looks seemingly convincing, do not do it!

A few hundred on an adventure, is cheaper than a few thousand loss that could have been avoided with a bit of motivation!!

[kendog77]

I really hope we get another update from terrahash with the chip order confirmation before 9:00am PST today.

[Tigggger]

What does your gut tell you?

My gut tells me that failing to do something as simple as posting proof of chip purchase despite numerous requests to do so, is a huge red flag, so I'm out.

[BitCointransfers]

Terrahash are you funding the chip buy with the pre-orders?

[xyzpdq]

What does your gut tell you?

My gut tells me that if I was TH on the verge of a large offering of equipment, I would be ever present in this forum, providing whatever was needed to make my new potential customers comfortable with sending me their money. Yet with 2.5 hours to go until they start taking orders on devices that they do not have a working prototype on, they are absent.

Either they won't provide the proof that they ordered chips, or they will do it at the very last minute which is extremely suspicious.  

20,000 chips costs a lot of money.

All we have seen to date is a single 95% populated PCB, 30 avalon chips and some pictures of an office space.

It's borderline, barely enough data to get you comfortable, so my question is why not provide enough to get everyone warm and fuzzy?

+1. You need an acknowledged member to go and document meeting them in person with a pre-determined Q&A in mind (not plugging me again, anyone can do it). You need more evidence, you definitely need to ascertain when exactly those chips were ordered, wallet/blockchain transaction info at least. As of yet you have had a few pics of an empty serviced office.

I share your concern.  If TerraHash honors their promise to refund, then there should be little to no risk?  It is unclear how long the 'refund' window will be.

So, will preorders on Tuesday be part of the already ordered chips or not? If I login on Tuesday at 9AM and order say a DX Large (with you providing the chips). Is going to ship at the end of July/early August or 8 weeks later after you order more chips? This is really important if anyone here is going to take your Tuesday preorder seriously.

Will you let people know if they made the cut or not before they order? Or, are you taking a sort it out later approach?

As I mentioned before, we would be investing the pre-order money to buy more chips to meet our estimated requirement. So we would not be limiting the orders to the number of chips we have. Also, since some people will be paying with Wire (which takes up to 3 days), we will have no way to know which all orders have been paid for until then. However, within a week, we will email you the estimated delivery date. You can then choose to keep the order or ask for a refund.

[kendog77]

What does your gut tell you?

My gut tells me that failing to do something as simple as posting proof of chip purchase despite numerous requests to do so, is a huge red flag, so I'm out.

My gut tells me that if these guys were scammers, they wouldn't be accepting Paypal unless they plan on fleeing the country immediately. It would be very easy for law enforcement to catch up with them.

Having said that, just because folks are committed to doing something doesn't mean they can actually pull it off. What could go wrong? Avalon could deliver the chips late or not at all. BKKCoins board design might not work.  

Make no mistake about it, this is a risky purchase.

[hyperdallas]

Here is my take on it guys.

Terrahash is legit, and just like KNCMiner, they want to deliver.  The insane jumps in difficulty make it hard to pull the trigger on these boards, though, considering the low GH/$ ratio.  I have a priority account, and up till about 3 weeks ago was all set to order once TH went live.  Now, I am fighting internally, do I order or don't I...? it is something that has kept me up the last two nights.  If I order now, I run a very high risk not seeing any ROI, if I wait for more refined tech I could miss the boat.  The Jupiters and Saturn devices are very intriguing considering the GH/$, and if they can deliver in a reasonable time frame my wait and see approach will end up being the right decision.  Time is counting down on these pre-orders... I have always felt that I need to trust my gut, and typically do, but this situation is much harder to discern.  The question is, drop a ridiculous amount of money for 180GH now (works out to about 9k USD), or order a Saturn for $3800 (now knowing they are legit, thanks to Bitcoinorama)?

What does your gut tell you?

Avoid all current ASIC deals and keep bitcoins. Eventualy invest some of them in few promising altcoins.

say you bought the 4.5ghz, cost of 250 dollars. Say at the moment 5 ghz makes 18 dollars a day correct?, in 1-2 months it will only make 5-10$ a day? And with the increasing difficulty, i dont see it really becoming paid for for at least 1-2 years or more anyone agree? You only buy it to mine coins the the hell of it, now if it was 5 ghz that worked for bitcoin and litecoin sure =)

What does everyone think about this?

[kendog77]

Terrahash are you funding the chip buy with the pre-orders?

They already said that they are going to use pre-order funds to order another batch of Avalon chips so they can keep production rolling.

[itod]

Avoid all current ASIC deals and keep bitcoins. Eventualy invest some of them in few promising altcoins.

What do you consider to be "promising altcoin"? And, yes, I'm suggesting that there is no such thing. If I'm wrong, please correct me.