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DobZombie (OP)
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June 17, 2013, 03:42:45 PM |
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Here is the bitcoin address that Avalon has been using to put all their BTC into when people have paid for a 10K Avalon chip order https://blockchain.info/address/1FGAftzSTztFSB8LMwsrdCKTyqGY6zr3sUNow considering that up to this point it has had... Total Received 72,654.2 BTC Final Balance 72,654.2 BTC Which means that they have spend ZERO customer funds on production. They've been taking orders for just over 2 months now. What does this mean? are we all about to get ripped off pirateat40 style or do these guys just not care about money? If it was me I would at least NEED some of the US$7,500,000 to pay for business expenses what are your thoughts? |
Tip Me if believe BTC1 will hit $1 Million by 2030
1DobZomBiE2gngvy6zDFKY5b76yvDbqRra
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cedivad
Legendary
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Activity: 1176
Merit: 1001
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June 17, 2013, 03:43:23 PM |
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Chips are cheap, batch 3 was expensive.
I think that this is pretty much all.
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My anger against what is wrong in the Bitcoin community is productive: Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)Hashfast.org - Wiki for screwed customers |
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cp1
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June 17, 2013, 03:44:17 PM |
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If it was me I would at least NEED some of the US$7,500,000 to pay for business expenses
what are your thoughts?
It's not you, it's a business that apparently has money from previous sales or a business loan. |
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trigeek
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June 17, 2013, 03:46:45 PM |
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Here is the bitcoin address that Avalon has been using to put all their BTC into when people have paid for a 10K Avalon chip order https://blockchain.info/address/1FGAftzSTztFSB8LMwsrdCKTyqGY6zr3sUNow considering that up to this point it has had... Total Received 72,654.2 BTC Final Balance 72,654.2 BTC Which means that they have spend ZERO customer funds on production. They've been taking orders for just over 2 months now. What does this mean? are we all about to get ripped off pirateat40 style or do these guys just not care about money? If it was me I would at least NEED some of the US$7,500,000 to pay for business expenses what are your thoughts? My view- If I had both USD and BTC and needed to spend money right now, I'd certainly use the USD if I thought that BTC would go up in value. They clearly believe that BTC will go up, and will only spend it if they have to. |
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TheSwede75
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June 17, 2013, 03:52:54 PM |
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Massive chip profit margin and plenty of $$ from batch 3 available. Obviously Avalon owners prefer to hang onto BTC over $$
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Loredo
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June 17, 2013, 03:57:36 PM
Last edit: June 17, 2013, 06:24:58 PM by Loredo |
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Here is the bitcoin address that Avalon has been using to put all their BTC into when people have paid for a 10K Avalon chip order https://blockchain.info/address/1FGAftzSTztFSB8LMwsrdCKTyqGY6zr3sUNow considering that up to this point it has had... Total Received 72,654.2 BTC Final Balance 72,654.2 BTC Which means that they have spend ZERO customer funds on production. They've been taking orders for just over 2 months now. What does this mean? are we all about to get ripped off pirateat40 style or do these guys just not care about money? If it was me I would at least NEED some of the US$7,500,000 to pay for business expenses what are your thoughts? At San Jose, YiFu made the off-the-cuff remark that not all BTC transactions happened on exchanges. I took that to mean that they might engage in "forward" transactions for large numbers of BTC. If they could find a hedge fund (off-US-shore, i.e., Chinese or Japanese) that was willing to speculate on BTC appreciation in fiat terms, they could get their funds, and hold the BTC where they were visible as collateral. |
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bennybong
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June 17, 2013, 04:16:55 PM |
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That defeats the point of the OP... Being that they still seem to have most of our BTC. He is wondering how they afforded to make the chips/machines without cashi g put their BTC |
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seleme
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Duelbits.com
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June 17, 2013, 04:20:29 PM |
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That defeats the point of the OP... Being that they still seem to have most of our BTC. He is wondering how they afforded to make the chips/machines without cashi g put their BTC It doesn't really.. if they really did excessive mining with pre-ordered Avalons they could finance chip production with coins from that part of their business easily. |
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DobZombie (OP)
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June 17, 2013, 04:45:18 PM |
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Today I finally received my units from Feb. 2 order. One unit was almost clean, while other one is moderate dusty. After checking all connections and desoldering F1 fuse, I started to configure units. First unit has been tuned to ozco.in and that is not surprise, cos same config was on my unit from batch one. Second unit has more interesting config: http://puu.sh/3hrak.pngAs you can see, first pool is eligius.st and most important is address: https://blockchain.info/address/1AYdAw8CcrQ2wx55LTbFHRn5bxgNZhaRLW?offset=0&filter=0716.40851602 BTC was mined from April 22 by various units. And only gods know, how much was mined on ozco.in. So, regardles what said Yifu, the answer is: YES, Team Avalon is mining with customer units.PS: I'm don't have any problems with fact, that Avalon is mining with my units, if this is burn test and not introducing shipment delays. Holy shit! That is just disgusting. That explains how they're able to afford to pay for 1,000,000 ordered customer chips. EDIT: mind you, the blockchain address in the quote above hasn't had any money taken out of it either. so my original question still stands o.0 |
Tip Me if believe BTC1 will hit $1 Million by 2030
1DobZomBiE2gngvy6zDFKY5b76yvDbqRra
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AdamKD
Member
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Activity: 98
Merit: 10
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June 17, 2013, 04:47:37 PM |
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This forum has like the most conspiracy theories of all the forums I'm a member of. Entertaining to an extent.
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Xialla
Legendary
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Activity: 1036
Merit: 1000
/dev/null
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June 17, 2013, 04:51:43 PM |
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This forum has like the most conspiracy theories of all the forums I'm a member of. Entertaining to an extent.
yes, because communication from manufacturers is mostly one of the worst, that I ever seen on web. Guys here invest lots of hard earned dollars to them, this of course leading for conspiracy about everything.. |
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infested999
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June 17, 2013, 04:51:49 PM |
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Chips are cheap, batch 3 was expensive.
I think that this is pretty much all.
If this was a case it would mean they are making massive profit margin on each chip. Personally I believe large profit margins are unethical, but in this case another competitor could have made a better price, and nobody did. So it's all fair game. |
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minternj
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June 17, 2013, 06:20:23 PM |
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Today I finally received my units from Feb. 2 order. One unit was almost clean, while other one is moderate dusty. After checking all connections and desoldering F1 fuse, I started to configure units. First unit has been tuned to ozco.in and that is not surprise, cos same config was on my unit from batch one. Second unit has more interesting config: http://puu.sh/3hrak.pngAs you can see, first pool is eligius.st and most important is address: https://blockchain.info/address/1AYdAw8CcrQ2wx55LTbFHRn5bxgNZhaRLW?offset=0&filter=0716.40851602 BTC was mined from April 22 by various units. And only gods know, how much was mined on ozco.in. So, regardles what said Yifu, the answer is: YES, Team Avalon is mining with customer units.PS: I'm don't have any problems with fact, that Avalon is mining with my units, if this is burn test and not introducing shipment delays. Holy shit! That is just disgusting. That explains how they're able to afford to pay for 1,000,000 ordered customer chips. EDIT: mind you, the blockchain address in the quote above hasn't had any money taken out of it either. so my original question still stands o.0 Thats just one address... For the other pool that was configured we don't see the transactions. |
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Loredo
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June 17, 2013, 06:29:13 PM |
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Uh, except that over there they're talking about 700 BTC. They've sold around a million chips, which, if they're selling for around 8 bucks, are likey costing them no more than $2. That's a completely separate shenanigans accusation going on over there. Seems like it's Bash Avalon week. Just as well, since BFL is in the Good Guy camp right now and Asic miner just sits there and cranks it out, occasionally offering hardware to anyone who wants stuff to sell on eBay to collectors in a few years. |
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minternj
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June 17, 2013, 06:37:32 PM |
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lol. BFL will never be in the good guy camp on this board. Not sure what you are talking about 700 chips.. You dont know how much they pay for them or how many other pools were "tested on". So yes its all specualtion, except for the proof they are mining. So far theres proof there was 2 pools configured in the guys avalon he was shipped. Thats all, and to me thats a smoking gun plain and simple they made money off customers avalons.
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Loredo
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June 17, 2013, 06:39:47 PM |
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lol. BFL will never be in the good guy camp on this board. Not sure what you are talking about 700 chips.. You dont know how much they pay for them or how many other pools were "tested on". So yes its all specualtion, except for the proof they are mining. So far theres proof there was 2 configured in the guys avalon he was shipped. Thats all, and to me thats a smoking gun plain and simple.
I'm sorry. See my edit. I'm hungry, it's past my lunchtime. But gotta say, this is an interesting forum. Guys here, overall, are really smart. That said, I reiterate: lunch time. |
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Loredo
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June 17, 2013, 06:50:11 PM |
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So far theres proof there was 2 pools configured in the guys avalon he was shipped. Thats all, and to me thats a smoking gun plain and simple they made money off customers avalons. Yeah, somebody mined that guy's hardware. And some pretty dirty hardware was shipped. Shit was going down in China, no question. But remember a couple things here: First YiFu is really smart. At San Jose, he was able to do a lot of damage to BFL with a smile on his face, and even got a couple shots in at the mysterious and God-like Asic miner principals. So he keeps up with stuff, and the benefit/cost ratio of getting busted in something this small just seems low to me. I think what has been seen so far is equally explainable by the boxes being hi-jacked temporarily by someone in the fulfillment chain. Remember, there were instances of pretty serious damage to some of the units reported; I doubt Avalon has a real tight leash on their fulfillment chains in China, and there's liekly a lot of room for shenanigans. That said, this is bitcoins, after all, and the downside of being outside jurisdictional regulations is, well, being outside jurisdictional regulation. |
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BenTuras
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June 17, 2013, 07:04:35 PM |
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Yifu said joking 'who says we're still in control of that address' ... My guess, like stated in another thread is they sold the address to a big investor (Zuckerberg?) and made a deal for payments to that address... |
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johnyj
Legendary
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Beyond Imagination
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June 17, 2013, 07:14:46 PM |
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This is exactly a bitcoin entrepreneur should do, only sale in bitcoin and promote pure bitcoin based business model, never cash to USD. They can use bitcoin as collateral to get large amount of fiat loans, even in today's exchange price, their loan is more than secure since the price has rised much since they received the batch 3 payment
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