[ANN] xCrowd*US/UK*TH/s+ Units

[KS]

They had a big dream... hoping to get tons of pre-orders, use that money to hire people and create a company. Then they decided that wouldn't work, so they decided to go the escrow route. Maybe they thought with enough orders placed when they launched their website, someone would fund them. (...)

Escrow is either part of the scam or a way to get funding from VC's or a loan from a bank, to hire the necessary personnel to actually start making a product.

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[KS]

Escrow is just a beard, without that magic word they'd have been denounced from day one. Still not sure what the angle is but I'm sure it's there somewhere.

Bait and switch, Kansas City Shuffle, whatnot. They could simply scalp the ones not going for escrow, or use their own validated escrow, there are ways.

or 'Orama thinks it might be a delay scam, an indirect scam, to tie up money in a fictitious product so as to reduce the overall difficulty of the network, thus making existing miners overall more profitable.

The surprising outcome to me, at this point, will be if Xcrowd is actually legitimately attempting to build a miner. We shall see.

That is also a possibility, but it's quite remote when you factor in what you know about the company(ies) and the principal. ATM, they sorely lack legitimacy. Let's hope they can dispel these doubts with concrete information.

[GodfatherBond]

"Bulk shipping start date - 20-12-2013
200 or 20% of total orders to be shipped per week
Individual deliveries sent out according to order list of confirmed order.
Inspection period after delivery - 5 days

Escrow release terms -
Individual customer confirms delivery of a working unit
Bulk refund if we fail to start bulk ship before 15-12-2013
Individual refunds if orders are not fulfilled within 6 weeks of bulk shipping start date."

So basicly the plan seems to be start ship 20th Dec and refund all escrows if shipping is not started by 15th Dec... 

[Bitcoinorama]

Escrow is just a beard, without that magic word they'd have been denounced from day one. Still not sure what the angle is but I'm sure it's there somewhere. Either an escrow scam, or 'Orama thinks it might be a delay scam, an indirect scam, to tie up money in a fictitious product so as to reduce the overall difficulty of the network, thus making existing miners overall more profitable.

No, I never said that. I said if legitimate, and if they have private equity funding, as they have claimed, that escrow only facilitates placing those funds in cold storage so to speak. They in effect are preventing you from then spending monies on their direct competitors should a more preferable alternative appear, like purchasing a product in stock should a company clear it's backlog, or a new entrant appear, or alternatively if they suffer a setback, or delay, depending on what the terms of the escrow are.

Certainly from an engineering design stance, those products look wayy too over engineered. I doubt the renders would be final products, and perhaps that questions their legimacy further.

It's a strong visual industrial design concept, but the flaw lies within the amount of parts. Xcrowd are not claiming to use the latest gen chips, they have an even smaller finite period of use.

When you design a product concept for retail, you make it aestheically pleasing.

When you finalise the chosen design you ensure it retains as much function as possible whilst reducing the number of parts.

Why?

Because more parts = greater expense which is needless, and more points of failure which is untenable in the long run. If parts fail, or break they will lead to loss of function of the miner = loss of profit for the miner = headache and more expense for both the miner and the company manufacturing/selling to the consumer.

When I studied engineering I hated taking my beautiful concepts and having to remove aesthetically pleasing design for boring practicality, but it's a necessity, especially if building in volume for a product where failure is critical. Also these need to be assembled, and fast, more parts = loss of time, more inspection, more hands to employ, and more expense w.r.t. assembly, bearing in mind these guys intend to undercut and compete on margins.

Which is why unflattering metal boxes with a few fans and a chip populated pcb board is the way to go...

[Tsukene]

Still silence from him?

[eve]

Still silence from him?

Couldn't get Escrow to work because they request for Passport, Driving License and what not? or still searching or creating  their identity

[Anenome5]

"Bulk shipping start date - 20-12-2013
200 or 20% of total orders to be shipped per week
Individual deliveries sent out according to order list of confirmed order.
Inspection period after delivery - 5 days

Escrow release terms -
Individual customer confirms delivery of a working unit
Bulk refund if we fail to start bulk ship before 15-12-2013
Individual refunds if orders are not fulfilled within 6 weeks of bulk shipping start date."

So basicly the plan seems to be start ship 20th Dec and refund all escrows if shipping is not started by 15th Dec... 

Why is the date inverted there? What if they argued in court that meant March 12, 2014, lol.

[roy7]

Why is the date inverted there? What if they argued in court that meant March 12, 2014, lol.

Isn't that the European style of dates?

[stfnnn]

EU date = DD-MM-YYYY

US date = MM-DD-YYYY

[vgo]

Where´s Wally? 

[DobZombie]

Why is the date inverted there? What if they argued in court that meant March 12, 2014, lol.

Isn't that the European style of dates?

Bloody americans.

12/20/2013 = united states

20/12/2013 = EVERYONE IN THE WORLD

o.0

[battsali]

Escrow terms -


Bulk shipping start date - 20-12-2013
...............

Escrow release terms -

Bulk refund if we fail to start bulk ship before 25-12-2013
...............


To xCrowd

I look you change several time  DIFFICULTY RISE INSURANCE
 
Please can you stop change at the end , so we know what  condition
exactly we accept and expect from you.

50% , 25%, free.,.,., 40,000.,.,50,000 ,.,2,7,.,.,3,,,,.Peta hashes,., etc.

you know , what i mean

[Anenome5]

EU date = DD-MM-YYYY

US date = MM-DD-YYYY

No, I'm saying in the top part it's one way, in the bottom the other.

[FCTaiChi]

Funny how they went silent right after I emailed TSMC.

[eve]

Where´s Wally? 

[bit_wizard]

Funny how they went silent right after I emailed TSMC.

Completely silent. This is not very professional.

[DebitMe]

Well from what I understand, someone was saying that there would be news within 48 hours, which came from an email from them.  From the timestamp on that post till now has been about 42 hours.  I would say to wait withholding judgment for another 6 to 7 hours or so, and then we can see where we are then, with or without reply.

[bit_wizard]

Well from what I understand, someone was saying that there would be news within 48 hours, which came from an email from them.  From the timestamp on that post till now has been about 42 hours.  I would say to wait withholding judgment for another 6 to 7 hours or so, and then we can see where we are then, with or without reply.

I will give them until Monday.

[fiktionist]

faked but legit passport/identity in uk costs about 15BTC so i dont really think xcrowd is trustworthy.

i have no facts, but its just i feeling i get from reading this thread.

[Xyver]

So I preordered a miner, and I have yet to pay for it... So I'm happy.  I can just wait and see and when they actually try to take my money, then I can see if it's a scam.