Off-Topic

[btceic]

We will be assembling a test K64 tomorrow.

We really don't know what's happening at Avalon's end. We have not received any communication from Yifu whatsoever.

We are already working on Plan B. Can't reveal anything right now. But will update as soon as we can.

Countdown clock for the "assembled" k64

Timer removed. End time: 2013-08-30+24:00:00PST

Assembled in this context means 4 fully populated connected hashing k16 boards.

Expected hashrate should be no less then: 4*16*333~=21GH/s with HW errors less then 5%.

Clock is set to PST, so that no one says they were cheated because of time zones.

[BitCsByBit]

Wonder if new project is with Btcgarden chips?

There are others. Maybe Labcoin chip as it will be superior and cheaper per GH than the Btcgarden chip or maybe even Avalon Gen2 chip

HashFast? Cointerra? Let's see!!

I doubt it would be HashFast or Cointerra if TerraHash is going to try and re-use the parts prepared for the K16 project.

[zurg]

I am staying also.

[krayzie32]

We will be assembling a test K64 tomorrow.

We really don't know what's happening at Avalon's end. We have not received any communication from Yifu whatsoever.

We are already working on Plan B. Can't reveal anything right now. But will update as soon as we can.

Countdown clock for the "assembled" k64

Assembled in this context means 4 fully populated connected hashing k16 boards.

Expected hashrate should be no less then: 4*16*333~=21GH/s with HW errors less then 5%.

Clock is set to PST, so that no one says they were cheated because of time zones.

Why don't you leave I thought you cancelled your order or had no order.  I think I might have the first person to grace my ignore list.  You have never posted anything helpful in this entire thread.

[krayzie32]

Yifu wrote back to zefir
https://bitcointalk.org/index.php?topic=177827.msg3035535#msg3035535

Yifu is open to chip refund.  

Terrahash should get a refund.

Wait for bitsyncom to offer their chips at a discount and buy it back.

Terrahash can then Distribute the discount to their customer.  

so wait 6 more weeks so the chips are really not worth their price at all and have no way to ROI just to get a slight discount?

If bitsyncom is stuck with hundreds of thousands of chips (in stock ) due to refunds, He might sell it at a deep discount so that the buyer can get a positive roi.

They made millions off of those chips and from Avalon machines the cost per chip is very small to what they were selling it for.  Plus I don't think they ever produced all of the chips.  I'm not sure what's going on with all the coins but TSCM does not take months to produce chips they can do it in days, so bitsyncom is holding onto the money or the person who got all of the coins is not giving them the cash to buy the chips.

[cad_cdn]

Not happy about waiting 3 months for a refund, but appreciate the option.
Is this 3 months from initial purchase date, or 3 months from a refund request?

New Option
c) Credit\Transfer 100% of existing purchase towards new product announcement

If you guys wish, I can bring up the refund issue with Yifu (in case he answers), and get the chips refunded. But we are heavily invested into this. The cases, custom heat sinks, PCBs, parts acquired at higher prices or acquired from secondary market are all non-refundable and impossible to sell. And since we ordered everything for 80,000 chips (40,000 our own and 40,000 anticipated assembly orders). So even with a refund from Avalon (which we highly doubt they will ever give), we might be able to give only a very small partial refund.

But as I said we are working on something new, I request all of you to be a little more patient. We are going to announce something very unique, very exciting and very affordable next week. We really can't give out much details as of now, but in our opinion this would essentially be the final evolution in Bitcoin mining.

All of you know that we have demonstrated the ability to produce and run the boards. We were the first one to successfully assemble a K16, and we were the first to start mining with a fully assembled K16 as well. And we will again demonstrate the ability to mass produce boards once we get the chips.

In my opinion, instead of taking a decision of behalf of everyone and pressing Avalon for refunds, we give everyone the following options individually:

a) If you want 100% refund, you need to give us 3 months time. We fully acknowledge that we are legally required to issue a refund when asked. Legal issues aside, we ourselves want to do the right thing to maintain our credibility. But the fact is we do not have enough liquidity right now to process all the refund requests. If you are willing to settle for a partial refund right now, please contact us and we can work something out.
b) Keep your order with us. We deliver it within the promised time (2 weeks of receiving the chips). We will also give you a 20% (of your current order) credit for our next project which we will be announcing next week. This credit will be transferable (you can sell it if you want).

I hope you understand that we are doing this despite the fact that the current situation is NOT our fault. Everyone who ordered from us were totally aware of the risks involved. Also 20-25% was our average profit per order. So even with option 'b', we are willing to make 0 profit from this whole Avalon saga, just for the sake our next project and to maintain long-term credibility for our company.

We would love to hear your comments on this.

[oaxaca]

Hopefully, after the board is proven to exist, BTCEIC will finally go away for good.  BitBet anyone?

[joeventura]

We will be assembling a test K64 tomorrow.

We really don't know what's happening at Avalon's end. We have not received any communication from Yifu whatsoever.

We are already working on Plan B. Can't reveal anything right now. But will update as soon as we can.

Countdown clock for the "assembled" k64


Assembled in this context means 4 fully populated connected hashing k16 boards.

Expected hashrate should be no less then: 4*16*333~=21GH/s with HW errors less then 5%.

Clock is set to PST, so that no one says they were cheated because of time zones.

While like you, I am no longer a customer, you are still a dipshit.
You have no skin in this game so why do you keep this crap up?

[krayzie32]

We will be assembling a test K64 tomorrow.

We really don't know what's happening at Avalon's end. We have not received any communication from Yifu whatsoever.

We are already working on Plan B. Can't reveal anything right now. But will update as soon as we can.

Countdown clock for the "assembled" k64

Assembled in this context means 4 fully populated connected hashing k16 boards.

Expected hashrate should be no less then: 4*16*333~=21GH/s with HW errors less then 5%.

Clock is set to PST, so that no one says they were cheated because of time zones.

[jc328]

Hi Terrahash,

Love the flow of information recently.  Sent you a PM, but wanted to know if there was perhaps an ETA on more information regarding a partial refund.  Thanks Fellas.

-JC

[oaxaca]

Well, I tried.

[joeventura]

Well, I tried.

A for Effort!

[atomicchaos]

See how easy it is to make this thread go more positive than negative? I like the last post by TH as well, I'd expect that type of spirit from a highly technical person!

[krayzie32]

Now isn't that fancy Terrahash got 360 Chips from Zefir Batch 2.

https://bitcointalk.org/index.php?topic=177827.msg3045068#msg3045068

[krayzie32]

Now isn't that fancy Terrahash got 360 Chips from Zefir Batch 2.

https://bitcointalk.org/index.php?topic=177827.msg3045068#msg3045068

Sweet thats like 5/20 of my K64s

No that is both of my K64s 

[joeventura]

Now isn't that fancy Terrahash got 360 Chips from Zefir Batch 2.

https://bitcointalk.org/index.php?topic=177827.msg3045068#msg3045068

Well someone has 100Gh mining   

[jdape]

Requested a refund last week, and again today.  Haven't heard a peep from TerraCrash.

PayPal is investigating them again.

[MinermanNC]

Now isn't that fancy Terrahash got 360 Chips from Zefir Batch 2.

https://bitcointalk.org/index.php?topic=177827.msg3045068#msg3045068

Sweet thats like 5/20 of my K64s

No that is both of my K64s  

LOL thats hilarious, you guys can draw straws or better yet flip a coin....

If TH has any sense they will build THEMSELVES a few miners and start hashing to bring in a little extra cash flow for the overhead, at this point thats what I would do...

[-Redacted-]

Requested a refund last week, and again today.  Haven't heard a peep from TerraCrash.

PayPal is investigating them again.

Have you even READ this thread?

[Bitcoinorama]

Now isn't that fancy Terrahash got 360 Chips from Zefir Batch 2.

https://bitcointalk.org/index.php?topic=177827.msg3045068#msg3045068

Sweet thats like 5/20 of my K64s

No that is both of my K64s 

LOL thats hilarious, you guys can draw straws or better yet flip a coin....

You forget who has the first order 

Haha, result!