[VMC] Official Virtual Mining Corporation Discussion

[magzy]

Day 4 of refund week and still no sigh of refunds?

@ken can we have an update please?

Wait for more board sales or until they mine enough coins

Why should I have to? 

I bought in fiat 4 months ago and requested the refund 4 months ago.

Just some communication would be nice from VMC. Ken? care to comment on the refund situation?

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[magzy]

Ken how many refunds have you completed this week?
When do you expect to finish the refunds.  I have been asking for it for 4 months and would like my money back this week please? Any comment welcome

[klondike_bar]

Ken how many refunds have you completed this week?
When do you expect to finish the refunds.  I have been asking for it for 4 months and would like my money back this week please? Any comment welcome

sounds like no refunds yet - considering that you have been quite vocal and ken's only response has been some thing bout you asking for a refund too quickly after ordering as some way of justifying that the money was held for months.

is actm/vmc still sitting on 152 packaged boards (70TH+) without adding them to the current 50TH mine?

[jimmothy]

is actm/vmc still sitting on 152 packaged boards (70TH+) without adding them to the current 50TH mine?

I doubt its as simple as plugging in the extra boards.

You need to consider electricity, cooling, parts, space, time to configure, and probably many more variables.

And at VMCs rate it will likely be as slow as possible.

[Ashitank]

So when is Ken going to start trading of shares & paying withheld dividends & future dividends

[magzy]

So when is Ken going to start trading of shares & paying withheld dividends & future dividends

https://bitcointalk.org/index.php?topic=462370.0;topicseen

Ask in here but beware of the Nazi mods though.
But in my opinion, years because ken wants to use colored coins

[NotLambchop]

Slaughter claims he's shipped 4 of this guy's 5 boards separately, but all 5 have been shipped.  Guy asks for tracking number.  Expected results.

...
So guys , its been 20 days , i converted my November paid pre-order to 5 x Prospector Boards .
So far , i have only received 1 prospector board . I was told that somehow they did not ship rest of my 4 boards along with 1 i received . I'm tired messaging on website as well to Ken .
I have no idea when my rest 4 board will actually ship .

I even ordered a few Harness Kits around a week back , even that has not been shipped yet .

Ken , please speed up your logistics , I don't seem to understand why would it take 20 days to ship out a few boards which where placed on order together .

If its going to take more time to ship out , let me know , i might be able to arrange a friend of mine to pick those up from you and my friend can DHL it to me .

Ken , please sort this out .
...

[RoadStress]

So he is not issuing refunds, he isn't shipping boards, but he is mining for himself. Why do people still believe that ken will do the right thing?

[Minor Miner]

Ken how many refunds have you completed this week?
When do you expect to finish the refunds.  I have been asking for it for 4 months and would like my money back this week please? Any comment welcome

[magzy]

So he is not issuing refunds, he isn't shipping boards, but he is mining for himself. Why do people still believe that ken will do the right thing?

So he is not issuing refunds - correct.  None and no word from him.

he isn't shipping boards, - he is but they have a 75% DOA / Failure rate with only a 10 day warranty.

but he is mining for himself - Yes if you take the shareholders as having been scammed. if the 75% DOA rate of the cards is also applying to his farm then the 200TH target will only ever get to about 50TH.

Why do people still believe that ken will do the right thing?  - he should give all money back and stop being involved in bitcoin.

[kslaughter]

So he is not issuing refunds, he isn't shipping boards, but he is mining for himself. Why do people still believe that ken will do the right thing?

So he is not issuing refunds - correct.  None and no word from him.

he isn't shipping boards, - he is but they have a 75% DOA / Failure rate with only a 10 day warranty.

but he is mining for himself - Yes if you take the shareholders as having been scammed. if the 75% DOA rate of the cards is also applying to his farm then the 200TH target will only ever get to about 50TH.

Why do people still believe that ken will do the right thing?  - he should give all money back and stop being involved in bitcoin.

@Magzy We are starting today to issue refunds including your check today.

Edit:  @Magzy  In getting your check ready, we found in our records that we have already issued our check number 123 on 2/17/14 to you.  That check has not cleared our bank, so we are put a stop payment on that check and re-issuing another check to you.

[ChefBorjan]

@Magzy We are starting today to issue refunds including your check today.

Edit:  @Magzy  In getting your check ready, we found in our records that we have already issued our check number 123 on 2/17/14 to you.  That check has not cleared our bank, so we are put a stop payment on that check and re-issuing another check to you.

I'm picturing magzy going back to double check, and finding the cheque stuck underneath his shoe rack or something..

[magzy]

So he is not issuing refunds, he isn't shipping boards, but he is mining for himself. Why do people still believe that ken will do the right thing?

So he is not issuing refunds - correct.  None and no word from him.

he isn't shipping boards, - he is but they have a 75% DOA / Failure rate with only a 10 day warranty.

but he is mining for himself - Yes if you take the shareholders as having been scammed. if the 75% DOA rate of the cards is also applying to his farm then the 200TH target will only ever get to about 50TH.

Why do people still believe that ken will do the right thing?  - he should give all money back and stop being involved in bitcoin.

@Magzy We are starting today to issue refunds including your check today.

Edit:  @Magzy  In getting your check ready, we found in our records that we have already issued our check number 123 on 2/17/14 to you.  That check has not cleared our bank, so we are put a stop payment on that check and re-issuing another check to you.

I will believe it when I see it.
Send it recorded and signature on delivery with a tracking number. This might just give me an ounce of confidence that you will actually send the check.

Or you could just refund my money using this revolutionary payment system called Bitcoin using universally accepted coinbase's exchange rate. And be done with this whole damming and depressing episode.

You have my btc address. But this is wholly in your court as to how long you want to prolong it.

[chairforce1]

Posting this here for information. Don't reply to me.

Announcing our Gold Rush mining card:

In Stock ready to ship:

$1,499.00 .89 Watts per GH, 750 GH/s +/- 10%

PM me for orders for 10 units and over.  On our website soon for single orders.

Limited availability.

[Technologov]

+1. Refunding in Bitcoins is much smarter than sending checks around. It can be dollar denominated.

[arousedrhino]

+1. Refunding in Bitcoins is much smarter than sending checks around. It can be dollar denominated.

No its not, if the customer paid in BTC it would make sense but if they payed in USD then you would want to refund USD to mitigate the risk of someone claiming that they were not refunded via the same method as their payment even if they requested the BTC. A court could decide in a lying customers favor. Say they paid in USD requested a refund in BTC, got the refund and then they claim that they never received the refund since BTC is not a real currency in the United States. 

You paid in USD you get USD back with a check to prove the paper trail. Its the safer approach.

[magzy]

+1. Refunding in Bitcoins is much smarter than sending checks around. It can be dollar denominated.

No its not, if the customer paid in BTC it would make sense but if they payed in USD then you would want to refund USD to mitigate the risk of someone claiming that they were not refunded via the same method as their payment even if they requested the BTC. A court could decide in a lying customers favor. Say they paid in USD requested a refund in BTC, got the refund and then they claim that they never received the refund since BTC is not a real currency in the United States.  

You paid in USD you get USD back with a check to prove the paper trail. Its the safer approach.

Well this makes sense, but it would help if the check didn't take 5 months to appear - as in my case. It's a terrible way to do business and makes me want to avoid every US based manufacturer and go direct to China. At least they don't screw their customers over.

If USD purchase and refund is paramount then why does he have to mess around with checks?

Why not refund via bank wire transfer, paypal or even western union. I'd be happy to accept any of these AND pay the transaction fee. At least it would happen NOW and not in 1 month's time which is how long it takes to post and then clear an international check. Jokes-R-US

[arousedrhino]

+1. Refunding in Bitcoins is much smarter than sending checks around. It can be dollar denominated.

No its not, if the customer paid in BTC it would make sense but if they payed in USD then you would want to refund USD to mitigate the risk of someone claiming that they were not refunded via the same method as their payment even if they requested the BTC. A court could decide in a lying customers favor. Say they paid in USD requested a refund in BTC, got the refund and then they claim that they never received the refund since BTC is not a real currency in the United States.  

You paid in USD you get USD back with a check to prove the paper trail. Its the safer approach.

Well this makes sense, but it would help if the check didn't take 5 months to appear - as in my case. It's a terrible way to do business and makes me want to avoid every US based manufacturer and go direct to China. At least they don't screw their customers over.

If USD purchase and refund is paramount then why does he have to mess around with checks?

Why not refund via bank wire transfer, paypal or even western union. I'd be happy to accept any of these AND pay the transaction fee. At least it would happen NOW and not in 1 month's time which is how long it takes to post and then clear an international check. Jokes-R-US

All great points, there are numerous ways he could send you the fiat USD and he has not used one path yet unfortunately. I really hope you get your refund soon. Best of luck!

China seems to have the most reliable bitcoin ASIC companies which is not something I would have expected. There has not been a single US based Bitcoin mining company I am aware of that ships out of stock next day and actually keeps their delivery dates consistently. The Chinese are even better than KNC with KNC's latest stunt, the franken Juptier and really slow refunds.

[magzy]

+1. Refunding in Bitcoins is much smarter than sending checks around. It can be dollar denominated.

No its not, if the customer paid in BTC it would make sense but if they payed in USD then you would want to refund USD to mitigate the risk of someone claiming that they were not refunded via the same method as their payment even if they requested the BTC. A court could decide in a lying customers favor. Say they paid in USD requested a refund in BTC, got the refund and then they claim that they never received the refund since BTC is not a real currency in the United States.  

You paid in USD you get USD back with a check to prove the paper trail. Its the safer approach.

Well this makes sense, but it would help if the check didn't take 5 months to appear - as in my case. It's a terrible way to do business and makes me want to avoid every US based manufacturer and go direct to China. At least they don't screw their customers over.

If USD purchase and refund is paramount then why does he have to mess around with checks?

Why not refund via bank wire transfer, paypal or even western union. I'd be happy to accept any of these AND pay the transaction fee. At least it would happen NOW and not in 1 month's time which is how long it takes to post and then clear an international check. Jokes-R-US

All great points, there are numerous ways he could send you the fiat USD and he has not used one path yet unfortunately. I really hope you get your refund soon. Best of luck!

China seems to have the most reliable bitcoin ASIC companies which is not something I would have expected. There has not been a single US based Bitcoin mining company I am aware of that ships out of stock next day and actually keeps their delivery dates consistently. The Chinese are even better than KNC with KNC's latest stunt, the franken Juptier and really slow refunds.

after going through the hashfast and BFL threads, VMC is a saint in comparison.

[qukkM]

I received a HashFast refund in a timely manner, VMC sent and unsigned Check first of all then asked me to send it back and since then I have heard nothing.