Off-Topic

[pixl8tr]

Oh, now it makes even more sense to me...

sending $79,109.13 up front on 14th of May

Cloudhashing sent TH just enough money to purchase another 10,000 Avalon chips on May 14th, right when TH says they would have made a second avalon order.

Now comes June and Cloudhashing wants a refund, but TH has no money.  The only way to raise money for a refund is to accept pre-orders.

LOL I'll bet you are right.  Makes perfect sense.

[joeventura]

Oh, now it makes even more sense to me...

sending $79,109.13 up front on 14th of May

Cloudhashing sent TH just enough money to purchase another 10,000 Avalon chips on May 14th, right when TH says they would have made a second avalon order.

Now comes June and Cloudhashing wants a refund, but TH has no money.  The only way to raise money for a refund is to accept pre-orders.

Seems right, and I guess I can't say I blame them.

The good news is that the offering to the public gets another 10k chips

[newguy05]

I was always under the impression the queue is based on who paid first? isnt that the standard practice and common sense. Why should someone who places 10 orders but doesnt pay until the last min when they know terrahash is shipping be in front in the queue than the person who paid right after placing the order?

I understand bitcoin payment may take a bit time to confirm that is fair, those who paid with bitcoin should be allowed 12 hours if no confirmation by then, the order should be moved down the queue.

Are you guys saying terrahash is not processing order based on who paid first?  that doesnt make any sense.

terrahash can you please confirm.

[laughingbear]

Are you guys saying terrahash is not processing order based on who paid first?  that doesnt make any sense.

terrahash can you please confirm.

I called and talked to them personally.  The man on the phone confirmed this with me.

Feel free to call him, and let him know how you feel, its a toll free number.

[jdape]

The good news is that the offering to the public gets another 10k chips

Well, yes and no.  They said they had 20k chips to sell via pre-order.  That's what they did.  This 6400 chip order was already cancelled when they announced they were accepting pre-orders.

Hopefully there are no other 'behind the scenes' orders ahead of us all in the queue, that we don't know about.

[laughingbear]

How can they do payment first when they offer bank transfer and they have to wait for BTC Confirmations?

It's order date with a cutoff time to pay.

This is how it is with most businesses.

BTC payments should get preference of course, this is a bitcoin business. waiting on bank transfers, sorry but that should not penalize the btc orders.  No one buying this sort of equipment should not be aware of the problems with the banking system.

[aznewsh]

Does anybody have any thoughts about the hosting option, I do not see many people choosing that, what are your reasons?

[jdape]

How can they do payment first when they offer bank transfer and they have to wait for BTC Confirmations?

You can see when the Bitcoin payment was made nearly instantly, you just wouldn't ship a product before the payment was fully confirmed.   Paying via Bitcoin would not move an order down the queue if it was based on pay-date.

Paying via Wire Transfer is a different story though.  I suppose wire transfer payments would need to be given a time frame to come in since there's no way to tell when the wire was initiated.

[TheSwede75]

fresh news: http://www.coindesk.com/terrahash-opens-asic-mining-preorders-loses-business/
cloudhash cancelling order...  

Interesting, so Terrahash did in fact take pre-order money from at least one big fish before they officially opened up pre-orders to the public. Perhaps the reason why they haven't been forthcoming about the 20k Avalon chip order described in the first post is because a lot of those chips are already accounted for.

The window to get any kind of ROI is so small that I suspect folks that don't get units by August will lose money. It would be nice to know which chip order (and the chip order date) is associated with each order in the queue.

I don't understand comments about ROI and losing money.

If you bought an 18GH unit for $900 and when it gets delivered the cost of BTC is $120 and the Difficulty is 50 million I am still producing $600 a month and break even is 45 days.

How do you lose money?  I think the better term to use would be "Extended ROI window?"  

Beginner mistake. To calculate ROI you NEVER take BTC value into account. BTC/USD are traded @ spot, so you can ALWAYS purchase BTC at daily price and hold instead of purchasing a miner. The future gain/loss of BTC does not affect ROI of the miner.

[naRky]

I think its not good: http://www.coindesk.com/terrahash-opens-asic-mining-preorders-loses-business/

[newmars]

Agree with this

ONLY acceptable behavior is:

1. Terrahash ships order by pay-date and not their phony 'order nr'
2. Terrahash discloses to PAID order holders if their order is within first 10k chip order, 2nd 10k chip order or on 3rd/later chip order.

Otherwise I am cancelling for refund ASAP!

[TheSwede75]

How can they do payment first when they offer bank transfer and they have to wait for BTC Confirmations?

You can see when the Bitcoin payment was made nearly instantly, you just wouldn't ship a product before the payment was fully confirmed.   Paying via Bitcoin would not move an order down the queue if it was based on pay-date.

Paying via Wire Transfer is a different story though.  I suppose wire transfer payments would need to be given a time frame to come in since there's no way to tell when the wire was initiated.

True, but the orders should still be based on pay-time, which would be the time the wire was INITIATED.

[Cryptoin]

So I put together a spreadsheet which predicts whether an order number will fall in the first 10,000, 20,000 or beyond.  I've linked to it below.

Currently the cutoff for the first 10,000 is between order 465 and 475.  The cutoff for the first 20,000 is between order 515 and 540.

Terrahash Order Tracking

[kendog77]

fresh news: http://www.coindesk.com/terrahash-opens-asic-mining-preorders-loses-business/
cloudhash cancelling order...  

Interesting, so Terrahash did in fact take pre-order money from at least one big fish before they officially opened up pre-orders to the public. Perhaps the reason why they haven't been forthcoming about the 20k Avalon chip order described in the first post is because a lot of those chips are already accounted for.

The window to get any kind of ROI is so small that I suspect folks that don't get units by August will lose money. It would be nice to know which chip order (and the chip order date) is associated with each order in the queue.

I don't understand comments about ROI and losing money.

If you bought an 18GH unit for $900 and when it gets delivered the cost of BTC is $120 and the Difficulty is 50 million I am still producing $600 a month and break even is 45 days.

How do you lose money?  I think the better term to use would be "Extended ROI window?"  

You only think difficulty will be 50M at the end of August when BFL is shipping in mass, ASICMiner deploys and sells their second generation blades, and hundreds of thousands of Avalon chips flood the market?

[alfabitcoin]

Notice the name of the PNG file with the screenshot:

Screen-shot-2013-06-18-at-10.37.14-AM.png

If the screenshot is taken today, shouldn't order status be "sample chips shipped" as with other orders? Not claiming anything, just asking.

I wonder that myself. Its still "procesing" when it should been "chips ordered"
Proceed with caution.

[newmars]

So the paid buyer with order#>540 like 600 may better consider an order cancellation if delivery time is the main concern?
Terrahash definitely needs to address this concern for all the buyers.

So I put together a spreadsheet which predicts whether an order number will fall in the first 10,000, 20,000 or beyond.  I've linked to it below.

Currently the cutoff for the first 10,000 is between order 465 and 475.  The cutoff for the first 20,000 is between order 515 and 540.

Terrahash Order Tracking

[btceic]

PayPal has marked our account for review, due to a sudden flow of a large amount of funds into our account yesterday. We have stopped accepting PayPal payments until everything is sorted out with PayPal.

This sucks

[TheSwede75]

All the Bitcoin/PayPal orders that have not been paid fully will be cancelled today. We have been misquoted, that we will wait 6-7 days. We will wait for 2-3 days for the orders marked as "Bank Transfers", for the transfers to come in.

We still need to know where 'in line' we are. I ordered within the first 20 min and made payment at the same time. If someone that just threw in 20 DX-Large and made a request for bank transfer so that he can sell his 'early orders' eats up all the first 10k avalon chips ahead of me I am certainly not interested in keeping my order. Sorry, but I think a lot of people feel the same way.

[TheSwede75]

So I put together a spreadsheet which predicts whether an order number will fall in the first 10,000, 20,000 or beyond.  I've linked to it below.

Currently the cutoff for the first 10,000 is between order 465 and 475.  The cutoff for the first 20,000 is between order 515 and 540.

Terrahash Order Tracking

100% pure speculation of course. Since NO ONE has any damn clue as to what or how they are handling orders. It's freaking circus for now.

[newmars]

Great! Thanks for taking care of this concern.
Knowing whether an order will be in the first batch would be critical for a lot of buyers to make decision, I think.

So the paid buyer with order#>540 like 600 may better consider an order cancellation?
Terrahash definitely needs to address this concern for all the buyers.

So I put together a spreadsheet which predicts whether an order number will fall in the first 10,000, 20,000 or beyond.  I've linked to it below.

Currently the cutoff for the first 10,000 is between order 465 and 475.  The cutoff for the first 20,000 is between order 515 and 540.

Terrahash Order Tracking

The list provided in the link is incorrect. For instance, the first order number we have is 434. We don't have any orders numbers 430 and 431.

We will be sending an email tomorrow or day after to let everyone know when they can expect their orders to be shipped. You can then decide to keep the order or ask for a refund.