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

[SoggyLettuce]

If someone wants to click that sketchy link go ahead but I'm going to wait for someone else to go first or someone get a youtube link.

[fiktionist]

If someone wants to click that sketchy link go ahead but I'm going to wait for someone else to go first or someone get a youtube link.

no risk no fun

[handytxg]

If someone wants to click that sketchy link go ahead but I'm going to wait for someone else to go first or someone get a youtube link.

Here we go
http://www.youtube.com/watch?v=oHg5SJYRHA0

[Anenome5]

Based on how this has rolled out and wound down now, I'm assuming it was a confidence scam designed to fool a 3rd party into releasing a large sum of money into Adbi's hands. Who can say whether it was successful or not, but it's pretty clear there never was and will not be a miner from Xcrowd.

No doubt this forum played a part in making the company appear legitimate and to have mainstream interest in buying, and all it took was the magic word 'escrow' for many of you to throw caution to the wind and place orders.

[ASIC-K]

Based on how this has rolled out and wound down now, I'm assuming it was a confidence scam designed to fool a 3rd party into releasing a large sum of money into Adbi's hands. Who can say whether it was successful or not, but it's pretty clear there never was and will not be a miner from Xcrowd.

No doubt this forum played a part in making the company appear legitimate and to have mainstream interest in buying, and all it took was the magic word 'escrow' for many of you to throw caution to the wind and place orders.

yup, you win sir. oh well....

[Bitcoinorama]

Based on how this has rolled out and wound down now, I'm assuming it was a confidence scam designed to fool a 3rd party into releasing a large sum of money into Adbi's hands. Who can say whether it was successful or not, but it's pretty clear there never was and will not be a miner from Xcrowd.

No doubt this forum played a part in making the company appear legitimate and to have mainstream interest in buying, and all it took was the magic word 'escrow' for many of you to throw caution to the wind and place orders.

yup, you win sir. oh well....

As I said;

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...

[Anenome5]

If I'd have been thinking I would've gotten a Bitbet going

[Ytterbium]

Based on how this has rolled out and wound down now, I'm assuming it was a confidence scam designed to fool a 3rd party into releasing a large sum of money into Adbi's hands. Who can say whether it was successful or not, but it's pretty clear there never was and will not be a miner from Xcrowd.

No doubt this forum played a part in making the company appear legitimate and to have mainstream interest in buying, and all it took was the magic word 'escrow' for many of you to throw caution to the wind and place orders.

yup, you win sir. oh well....

Well, no one lost any money, I guess. Still kind of amazing people weren't able to pick up on the mega-scammyness.

If I'd have been thinking I would've gotten a Bitbet going

Heh, could have made some money.

[DobZombie]

This still happening?

[Anenome5]

This still happening?

Nope! The scam has run its course undoubtedly.

[AussieHash]

This still happening?

Nope! The scam has run its course undoubtedly.

You mean the next time some anonymous 23 year old online women's clothing vendor wants to take tens of millions of dollars in preorders, we'll need to think twice ?

[Anenome5]

This still happening?

Nope! The scam has run its course undoubtedly.

You mean the next time some anonymous 23 year old online women's clothing vendor wants to take tens of millions of dollars in preorders, we'll need to think twice ?

I'm honestly expecting him still to pop up and rag on all the people who put in for pre-orders and announce the whole thing a ploy to test people's gullibility when it comes to miners.

Maybe his whole con was to take the money of those unscrupulous people who will contact a miner-builder and offer cash to move to the top of the line (as KNC had recently admitted they'd been besieged with, and what is probably what happened to Avalon's chips).

The conman conning a conman is one of the best cons there is, he may reason. Take the money of someone trying to cheat the system.

[AussieHash]

Cool website anyway.

[FCTaiChi]

I wish I could have gotten a response from TSMC, would have been nice to be able to post something official so this thread stops popping up in my "Show new replies to your posts."

[btc_uzr]

[FYI] SSL certificate for domain xcrowd.co.uk has been revoked.

[klee]

Where is JohnyBigs??

[JohnyBigs]

Where is JohnyBigs??

Right hurr

[klee]

Where is JohnyBigs??

Right hurr

What do you think? Scam or not? Honest question, honest answer...

[JohnyBigs]

Where is JohnyBigs??

Right hurr

What do you think? Scam or not? Honest question, honest answer...

If we take the definition of scam technically, then no. Xcrowd took in $0 dollars, can't really call it a scam. One person mentioned a 3rd party scam, even that doesn't qualify. Showing an investor proof of market and actual demand, to raise funding doesn't classify as a scam either.

As of right now the only thing we can do is wait. There is no point in coming up with random assumptions. Either way people will almost never get a return on their investment with current hardware prices and sales. When you ran some calculations x-crowds units were negative.

When the hardware manufacturers decide to pursue normal business operations with normal margins, instead of insane 1000% profit margins, than it might make sense to buy hardware again. Until then I have bought shares in Labcoin and Icedrill to leverage the buying power.

The only way to make any money of hardware now is if you have a massively huge amount of money, hence the shares in the companies mentioned above. Or if Bitcoin's price skyrockets, but until that happens I will just sit on the sidelines before purchasing any overpriced, or hardware that is pre ordered.

[Anenome5]

What do you think? Scam or not? Honest question, honest answer...

If we take the definition of scam technically, then no. Xcrowd took in $0 dollars, can't really call it a scam.

We don't know that for sure.

One person mentioned a 3rd party scam, even that doesn't qualify. Showing an investor proof of market and actual demand, to raise funding doesn't classify as a scam either.

It does if he runs away with the funding money after it's released to him.

As of right now the only thing we can do is wait. There is no point in coming up with random assumptions.

You'll probably never hear from him again; the scam has run its course.

If it's not a scam it's probably a test of this site, or some journalist writing a story on asic scams and we'll find out about it then. Perhaps if it was a journalist the goal was to find out how many people would try to bribe an ASIC manufacturer to get to the front of the line. The whole thing could be research on a story into BFL's foibles and corruption.