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Author Topic: !!!WARNING - BITMAIN LEAVING PAYING CUSTOMERS OUT TO DRY!!!  (Read 2638 times)
milagm
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September 21, 2017, 07:40:11 AM
 #21

I've been wondering for a very long time why an earth Bitmain sell anything to anyone ?

For example this latest D3 batch. Lets say they will receive X dollar profits (after manufacturing costs) from this batch BUT if they would do the mining by themselves they would get manufacturing costs back in very short time (1-2 weeks depending what the costs are) and after that they will start to receive much more than that "X dollar batch" profits in every 2-4 weeks again and again WITHOUT any overhead from manufacturing OR specially from customers.

They could control the markets with their outstanding product and business.

Of course they still will need their R&D and manufacturing capabilities but it would be a very much different situation than now -> you can do things much more efficient way when you develop only for yourself.

btw. the answer is NOT they move the risk of running the business to customers because it's allways risk you run any business.

---

In this situation the good thing for us is the competitors have waken up and we will see better and NEW alternatives. Maybe this time we will see a good western type customer services who care for their customers.
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Kayaman85
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September 21, 2017, 01:19:32 PM
 #22

All of my orders have gone through fine via wire transfer...
Maybe you and others just mispelt something when making the wire transfer and it went to the wrong place? Seems like that could def happen.

fanatic26
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September 21, 2017, 08:09:43 PM
 #23

I've been wondering for a very long time why an earth Bitmain sell anything to anyone ?

As a company tries to expand it has to open its balance sheets up to potential investors/banks/whatever and being able to give hard sales numbers with guaranteed revenue versus saying "we mine xxx each month" which can vary in its value greatly depending on the market is what most investors are looking for plus you cant forecast with crypto earning due to their volatile nature. This is especially true since crypto seems to be so confusing to people outside the industry. So striking a balance between cash revenue and mining revenue is very important. You need to show your company is profitable without the mining revenue.

Stop buying industrial miners, running them at home, and then complaining about the noise.
milagm
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September 22, 2017, 09:16:37 AM
 #24

As a company tries to expand it has to open its balance sheets up to potential investors/banks/whatever and being able to give hard sales numbers with guaranteed revenue...

I understand what you're saying and partly agree but if they manufacture 10 000 pcs which will cost $500/pcs (just quessing) it will take 'only' $5mil to do it. In optimal world Smiley the ROI is done within 1-2 weeks and then you start to receive $10mil/mo which is $120mil/y JUST by one product...

You and your buddies can do this by a prototype and it is 100% proof for some chinese wealthy private investor which will be happy to throw you the money just like that because some lousy $5mil is nothing for him/her.

After that you do not need any other investors into your business. You can invest by yourself and your fellow investor is more than happy to throw more happy money into your machine Smiley

---

Then when your mining machine starts to get old and the profits starts to go down THEN it is time to start to sell it for others and this is what I think is happening on here.

Peace  Cool
mindrust
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September 23, 2017, 09:06:50 AM
 #25

WARNING!!

A very real problem is developing with the company Bitmain.

I am a customer of theirs and have been for a while and never before had a problem, until now. I purchased some Antminer L3+'s a couple of releases back and opted to pay for them using their USD bank wire option.

I was told that I had seven days in order to complete the payment and then upload a proof of purchase. I did all of this but after doing so I never got any confirmation from Bitmain that they'd received it. When I then logged on to Bitmain next to check the status of my order, it had 'expired' and stated that it was unpaid.


This is what happens when more than %90 of the mining equipment is manufactured by one company, based on one country, without worldwide customer support, customer service and so on.

This is what bitmain wants to do with bitcoin. A centralized copy of paypal/VISA in a far worse taste.

We either need more ASIC producing companies who does a better job than shitty bitmain or, we'll need to get rid of ASICS all together.
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September 26, 2017, 05:24:19 AM
 #26

It seems that BITMAIN support does not exist any more. I wonder whether they dump all the miners and run away since Chinese Government is shutting down BTC trading. I don't believe Chinese Government will only shut down BTC trading and leave BITMAIN alone. Anyway just be cautious with your money. No wonder people are willing to pay more to buy from eBay, or, even from Amazon.
cioloxl
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September 26, 2017, 07:28:40 PM
 #27

I've been in the crypto/mining game for a couple months now, and to be honest bitmain is probably the only chinese entity I would send money to (except for alibaba maybe). I bought a D3. Was fairly concerned about the process in the beginning, but it turned out better than I expected.

It took a few weeks of back-n-forth concerning the proof of payment (main issue I had with them was the fact that even though I opted to pay for all the banking fees, they still asked me for 30$ more, but I figured it's the bank's fault), but all in all it was by no means a hassle. I got a few scripted replies from customer support, but more than half were interactions with knowledgeable people. On top of that, I got a machine that was actually better than advertised (can't remember another instance of this happening).

After hearing horror stories about companies like Innosilicon or iBelink, I will probably order solely from bitmain. I'm not a shill, if anyone's wondering. I was just satisfied with their service.
jseph1234
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September 27, 2017, 02:06:08 AM
 #28

BULLSHIT...fcking 1 post newbie panic...FUD


If you were a serious patient honest buyer you would have got one of these...

    
What do you mean BULLSHIT?? If the Fcking guys says they are cheating, then YEAH Bitmain is cheating him..He has ZERO reason to bitch about a company if they had done has promised...Sheez what the fuck dude...sheez why would the guy lie if he was getting cheated by a company and you were sitting there defending them when he is trying to get his $4000+ dollars back from them.  What and asshle you are dude!!!!!
Thetaj
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September 27, 2017, 05:23:22 AM
 #29

Calm down guys, shit like this happens all the fucking time. You guys are too cozy in the West. This shit literally happens ALL THE TIME over here in Asia. Fly to Beijing, talk to them, they'll sort you out in a couple of days.
gmf1000
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September 28, 2017, 04:08:14 AM
 #30

It seems that BITMAIN support does not exist any more. I wonder whether they dump all the miners and run away since Chinese Government is shutting down BTC trading. I don't believe Chinese Government will only shut down BTC trading and leave BITMAIN alone. Anyway just be cautious with your money. No wonder people are willing to pay more to buy from eBay, or, even from Amazon.

Is this really happening? The chinese government?


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toptek
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September 28, 2017, 09:58:20 AM
 #31

It seems that BITMAIN support does not exist any more. I wonder whether they dump all the miners and run away since Chinese Government is shutting down BTC trading. I don't believe Chinese Government will only shut down BTC trading and leave BITMAIN alone. Anyway just be cautious with your money. No wonder people are willing to pay more to buy from eBay, or, even from Amazon.

Is this really happening? The chinese government?

Is this really happening? The chinese government?
http://fortune.com/2017/09/15/china-shutting-down-beijing-bitcoin-cryptocurrency-exchanges/

but next year Japan will Links ...
http://1stminingrig.com/mining-news-7nm-asics-thing/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+1stMiningRig+%281st+Mining+Rig%29
https://bitcoinmagazine.com/articles/japanese-company-will-launch-new-bitcoin-mining-operation-7-nm-chips/

remember Japan is a free nation so f*** bitmain ..
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