Avalon orders - batch #3 refund requests thread

[Rampion]

As you may have seen Avalon has offered a full refund to all their batch #3 customers:

we opened refunding option for batch #3 order since it is quite delayed, batch 2 is shipping and should be finished shipping in the end of the month, then batch #3 is to start right after, we are not refunding chip orders since the coins gets sold and is used to pay for chip order at foundry, canceling is not really possible.

but essentially we put in order for chips every week, by early July the chips that were ordered when we opened orders should be out the door by then.

I guess many of you are taking this refund, as there are options on the market that are much more cost effective at the moment (Terrahash, Bitfury, KnC, etc.)

This thread is to follow up:

a) who decided to take this refund (please disclose as much info as you can about your order: order number, number and type of units, payment date, refund request date, etc.)
b) how much time its taking for these refunds to be processed

If possible, please share what you will be doing with the refund (just keeping the BTC, investing in another mining company, etc.).

Once a day a will update the OP with the results

June, 28th update:

cmdbill: refund requested and not honored yet, 9 days waiting so far
elendir: refund requested and not honored yet, 9 days waiting so far
aissto: refund requested and not honored yet, address requested by support
ilike to mine: refund requested on June 25th and not honored yet, 3 days waiting so far

July, 5th update:

cmdbill: refund requested and not honored yet, 15 days waiting so far
elendir: refund requested and not honored yet, 15 days waiting so far
aissto: refund requested and not honored yet, address requested by support
ilike to mine: refund requested on June 25th and then cancelled by the user.

July, 10th update:

cmdbill: refund requested and not honored yet, 20 days waiting so far
elendir: refund requested and not honored yet, 20 days waiting so far
aissto: refund requested and not honored yet, address requested by support
jspielber: refund requested today, not honored yet
jtomo22: refund requested, not honored yet, 15 days waiting so far

No news from Bitsyncom

[1715228516]

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[1715228516]

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[koob]

as there are options on the market that are much more cost effective at the moment (Terrahash, Bitfury, KnC, etc.)

A bit offtopic:
did you took time variable in your caclulations ?

[Rampion]

as there are options on the market that are much more cost effective at the moment (Terrahash, Bitfury, KnC, etc.)

A bit offtopic:
did you took time variable in your caclulations ?

No, obviously I didn't. ATM it's impossible to know exactly when batch #3 will be delivered, even less when the Bitfury o Terrahash will be able to ship en mass.

What I'm quite sure about is that above 30/35 million difficulty, Avalon batch #3 won't even break-even.

[Rampion]

Here goes an update regarding two refund requests:

I submitted a refund request for a batch 3 asic and have not heard anything yet nor received a refund.

Edit: This was about 6 days ago.

Same with me.

[MagicMike523]

Here goes an update regarding two refund requests:

I submitted a refund request for a batch 3 asic and have not heard anything yet nor received a refund.

Edit: This was about 6 days ago.

Same with me.

Unacceptable.  The incompetence is astounding.  If you need more employees then hire more employees, its not like they don't have the money, they are only refunding a fraction of the value of the bitcoins you paid them.  They still make over $4000 without shipping a thing.

[koob]

No, obviously I didn't. ATM it's impossible to know exactly when batch #3 will be delivered, even less when the Bitfury o Terrahash will be able to ship en mass.

As Bitsyncom stated, Batch #2 should finish with June, and Batch #3 goes just after.

[Rampion]

No, obviously I didn't. ATM it's impossible to know exactly when batch #3 will be delivered, even less when the Bitfury o Terrahash will be able to ship en mass.

As Bitsyncom stated, Batch #2 should finish with June, and Batch #3 goes just after.

They also stated that shipping was going to start on May, 5th. And we also have aprox. shipping deadlines for the other manufacturers (Bitfury, KnC, Terrahash...)

Given past history, I stand correct: impossible to predict when customers will receive their units.

[koob]

Given past history, I stand correct: impossible to predict when customers will receive their units.

Unfortunetly that is true.

[Wayne_Chang]

No, obviously I didn't. ATM it's impossible to know exactly when batch #3 will be delivered, even less when the Bitfury o Terrahash will be able to ship en mass.

As Bitsyncom stated, Batch #2 should finish with June, and Batch #3 goes just after.

They also stated that shipping was going to start on May, 5th. And we also have aprox. shipping deadlines for the other manufacturers (Bitfury, KnC, Terrahash...)

Given past history, I stand correct: impossible to predict when customers will receive their units.

Entirely agreed. In China time, there is only 5 days left. Let's wait and see.

[dyseac]

The bottom line is Batch#1 and Batch#2 people aren't suffering anywhere near as hard as batch#3 due to the cost of the units at the time.

If you convert USD to BTC at the time of #1 and #2 is nothing compared to what is required to repay the unit @ 100BTC (or 75btc for 3 modules).

[dan99]

if Yifu suggest refund  getting your money back is a far better option ... ya go for refund

[jspielberg]

I created a spreadsheet with exponential difficulty projections here:
https://docs.google.com/spreadsheet/ccc?key=0Auya3iRE6az1dG9fRkpXdFJtT1dNX0VCU1F0VFFUX3c#gid=8

The full thread is in speculation:
https://bitcointalk.org/index.php?topic=236050.0

The spreadsheet is I think a decent balance between pessimissm and optimism.  According to the curve, if we keep on at the exponential growth curve which started at the beginning of the year, Batch3 can turn a small profit if overclocked.  Stock won't earn back the cost.  I ignore electricity costs.

This spreadsheet doesn't factor in any known delivery of asics... just the smooth continuation of the curve established during the beginning of the year when Avalon asics were just starting to be delivered (Feb 1st to June-ish).

[dyseac]

I think i'm going to request the refund. - What's the process?

[jspielberg]

I think i'm going to request the refund. - What's the process?

https://bitcointalk.org/index.php?topic=236348.msg2515773#msg2515773

open a ticket and pick the trouble type as REFUND.

support.avalon-asic.com

[dyseac]

I think i'm going to request the refund. - What's the process?

https://bitcointalk.org/index.php?topic=236348.msg2515773#msg2515773

open a ticket and pick the trouble type as REFUND.

support.avalon-asic.com

Thank you

[ujka]

I created a spreadsheet with exponential difficulty projections here:
https://docs.google.com/spreadsheet/ccc?key=0Auya3iRE6az1dG9fRkpXdFJtT1dNX0VCU1F0VFFUX3c#gid=8
...

Because your model recalculates difficulty every day, there is a problem calculating earnings. Earnings per day have to be calculated using a difficulty of that whole retarget period. Since you are changing difficulty daily, earnings are accordingly lower. And your model is 'speeding ahead' even for past data.

[jspielberg]

Correct... I didn't want to have to predict when difficulty transitions would occur, so I made it continuous.  I figured the "correct" difficulty would be in the time range nearby.

It may be pessimistic, but I have found it useful for my own thinking.  Obviously the exponential can't continue forever, but I think the trend for the next 6 months shows no signs of slowing.

[Wayne_Chang]

if Yifu suggest refund  getting your money back is a far better option ... ya go for refund

Problem is somebody issued a ticket asked for refund. 6 days passed, no reply, no action.

[pikeadz]

I am on the fence.  I have a really low order number, because I purchased within minutes.  I will probably give it till the first few days in July, and if I don't hear anything... yeah....

[dyseac]

if Yifu suggest refund  getting your money back is a far better option ... ya go for refund

Problem is somebody issued a ticket asked for refund. 6 days passed, no reply, no action.

This has me worried also. - I think either way batch#3 customers are gonna get fucked over...