Incoming Avalon News 8/9/2013

[Bitcoinorama]

Isn't anyone else concerned that while BitSyncom stated that Avalon team members were extorted but they are planning an immediate delivery of their Gen2 chip? How is this possible? Are the problems over? What are the chances they get extorted again and again? What are the security measures they took?

Yeah, because he wants to give them to all those who were able to profit off his Avalons at the expense of the smaller guys and do so in order to prevent the smaller guys from getting their ROI. He is catering to a certain crowd - the guys who already have lots of BTC and can make the purchases. He wants to suck the money from the poor guys and transfer it.

The irony; considering his financing now comes from a former Lehman's banker and senior government advisor.

He no longer needs his pre-order flock, you have served your purpose and are now surplus to requirements so have been ignored, and now unceremoniously dumped.

Really wanted to like Yifu, but the fact is; he's just sold out Bitcoin to the guys that it was created to protect us from.

[-Redacted-]

Debunked hoax.  Publically denied on CNBC and the article was retracted from the WSJ. 

[papamoi]

SO DID HE UPDATED SINCE YESTERDAY???

[Bitcoinorama]

Debunked hoax.  Publically denied on CNBC.

No, Joe Lewis's interest was publicly denied.

[-Redacted-]

As was any knowledge of the supposed "Phoenix Fund".

[-Redacted-]

SO DID HE UPDATED SINCE YESTERDAY???

Yes, and it wouldn't hurt you to read back a few pages.  I've posted this multiple times in the last few hours:

"The news": 

They're working on generation 2 of the chips and won't be selling the gen-1 chips once they're out of stock.  Also, they won't be doing pre-orders from this point on, only shipping from stock.  Also, the mafia is after them, which is why no response for 5 weeks.  And the chips should be shipping again by "the end of next week".

[ibminer]

And now some random persons come in, i never heard of them, and demand i, and others, pay them back out of their own pocket. Man... thank you so much... i wish i could put the weight on my shoulders on yours for a while.

People need someone to blame... yelling and screaming about Yifu isn't working, so they need a new target. Small customers like myself feel pretty powerless now in what we can do (outside of flaming these boards). You have probably been the most vocal that I have seen from the other group buy leaders. Steamboat hasn't been as aggressive when it comes to Avalon, but he has been updating customers by basically saying 'we are still waiting for chips', I just think a more aggressive approach is necessary now after this update. I am hoping all of the group buy leaders post something in their threads regarding the Avalon news and state their opinions of it and any possible steps they are taking to protect their investments or progress towards some type of financial retribution from Avalon.

Meanwhile, here's Yifu... fearing his life from the mobsters trying to get him and his team:


If I had mobsters knocking on my team members doors, I wouldn't be showing up at any public bitcoin conference and surely wouldn't be seeking comfort in the arms of Sonny.

[PuertoLibre]

One of the reasons I am suspect of at least some of the group buy organizers and assemblers (i.e., TH) is that they have not been vocal at all on this subject - they remain completely silent. Why have they not all banned together to find answers weeks ago? None of it makes any sense unless they are involved or in the know somehow. They may already have the chips and are mining with them. TerraHash was originally supposed to ship the first orders between mid and late July, then they said August 15, now there is NO ETA.

They didn't plan to operate like a full-on scam where nothing would be delivered, it would just be delivered late and they assumed everything would quiet down once they were delivered even though the ROI was drastically reduced. In addition the first chip buyers who have their orders may have benefited as well by having the rest of the hashing power halted.

There may be members on this topic who are involved but playing good-cop/bad-cop.

Where do you get this? I created a groupbuy and we bought 5.6 batches together. And im behind this all the time. Its disappointing how everytime random users appear and claim things without checking first.

Especially for you again: I called yifu for days 2-4 times each hour. He clicks you away or waits until it ends. He wont answer. I write emails and tickets... its useless. I collected all email addresses from everywhere i could find that belongs to people that are connected to avalon and might know more... no answer.

I created a thread here: https://bitcointalk.org/index.php?topic=264224 and together with the other thread it leaded at least to Yifu logging into the forum 2 times, maybe his new statement was pushed by this too.

I thought about sueing avalon but it would be pointless. The time the judge made his decision the chips are worth zero. So we are at some point at the mercy of Yifu. Of course if all is lost and he not even wants to pay a refund we have to sue him.

And then some seems to misunderstood the concept of a groupbuy. Its collecting money so that all can get something they couldnt buy alone. That means that money is gone when the product is ordered.

Let me say you one thing... if i would have known before how much trouble this groupbuy things mean, the hours i spent 7 days a week for months now, the trouble and anger to not reach Yifu and not getting support, the legal things and stress surrounding it, all the data to be collected, up to 95 pm's each day answering... i wouldnt do it again. And i tell this everyone who is asking me if he should do a groupbuy.

And now some random persons come in, i never heard of them, and demand i, and others, pay them back out of their own pocket. Man... thank you so much... i wish i could put the weight on my shoulders on yours for a while.

You are right, you are not being paid enough to handle that kind of stress.

[User705]

All pre-orders especially in BTC should be escrowed with a sliding scale price depending on confirmed delivery time.  Problem solved.

[SebastianJu]

Thanks guys, i know its only some voices but i think its best to clear things up before rumours spread that dont have a reason.

I didn't blame you for anything. If you read anything I wrote I never said "all", I said "some", nor did I ever list any names. All I am doing is adding pieces together, something happened "behind closed doors" and it likely involves some people connected with some of the group purchases. Someone is benefiting... the mafia story is BS, the customs story is BS, etc. If those stories are BS then there is a real story, one which the interested parties don't want anyone to know. Someone took pictures of the chips and posted here for us to see weeks ago.

I cant understand Yifu since a long time. He didnt want to do support, it would have taken a minute to solve a ticket, instead he piled the tickets until it looked like real work. I cant understand this behaviour. After i pressured him like "You think i can let this lay down and risk..." too much he answered me in a ticket about a chip batch problem:

yes, it'll be dealt with before chips actually chips, and seriously, there are a bunch of other issues I must address before I even get into these minor tickets that is not yet due.

Let me quote you this passage written on our front page

"Limited Customer Support - The Avalon team is comprised of a small group of capable people; however, we are also extremely limited in manpower. Every one of us handles multitude of tasks, and for this reason we will have very limited customer support. No news is good news. We apologize for this, but we do not expect this situation to change."

In other words this means to me he will not hire a support person. And no, i dont understand this. Maybe he is workaholic and cant give work away?

And then he claimed that all batch 3 miners left, next is the batch 3 refund. But nothing happened till now. What did he do the last hours?

And regarding the chips... until he doesnt explain us why the 135 chip boxes werent distributed to us i dont know what to think about. So many chips he didnt order alone so it has to be chip batches. And since the chip sale started at one time for all buyers and zefir was one of the first buyers with his first batches im puzzled how he will explain this. But i fear we wont get an answer.

[PuertoLibre]

One of the reasons I am suspect of at least some of the group buy organizers and assemblers (i.e., TH) is that they have not been vocal at all on this subject - they remain completely silent. Why have they not all banned together to find answers weeks ago? None of it makes any sense unless they are involved or in the know somehow. They may already have the chips and are mining with them. TerraHash was originally supposed to ship the first orders between mid and late July, then they said August 15, now there is NO ETA.

They didn't plan to operate like a full-on scam where nothing would be delivered, it would just be delivered late and they assumed everything would quiet down once they were delivered even though the ROI was drastically reduced. In addition the first chip buyers who have their orders may have benefited as well by having the rest of the hashing power halted.

There may be members on this topic who are involved but playing good-cop/bad-cop.

I asked burnin what was his refund policy, since I paid in advance fo mor then 30 boards to him for the assembly job, and i paid more then 3500 euros for that, and he answered that he will not give full refunds, cause h ordered some parts that are needed for those boards. He stated that he will refund in his "financial boundries". I am really curious how much my refund will be.

He yesterday started to ship boards from zefirs first batch, I am in third.

So basicly i am screwed twice. Zefir said that we should sit and wait.

Scammy at least. Btw my order is a group order of small miners

They have it set up to benefit themselves and their buddies at the expense of everyone else - all of them are working together as a top-down pyramid scheme. They just needed the rest of us to fill-in the purchases and absorb all the excess chips needed to fulfill the fabrication limits. He will refund you a bit to the point he gets heavily discounted chip prices to add to his hashing power.

The boards are probably already done with the chips on them.

Burnin is a nice guy. Zefir was very professional too.you are exxaggerating.

The problem is that bitcoin failed twice here:

First, you have more chances to recover your money when paying with your credit card, or paypal.

And second, shit will fall on small miners, just like in reality they do, because system is corrupted.

I hate to be the bearer of bad news, but to add to the shit pile, the price of BTC is falling.

[Bitcoinorama]

As was any knowledge of the supposed "Phoenix Fund".

Did Bitsyncom's split as stated by Gridchip last month?
Yes.

Were Batch 2's arriving late with evidence of excessive use and pre configured for mining?
Yes.

Were Bitsyncom in possession of 2+ million chips as of the end of June, with photographic proof including that of the Airway Bill and Tracking number  to substantiate such a claim?
Yes.

Were as claimed by Gridchip, Bitcoin actively sourcing investment from Private Equity to create a 40nm chip?
Yes.

Did the WSJ claim that an ex-Lehman bankster had hooked up a meeting with TSMC for Tuesday?
Yes.

Did Yifu attend a meeting with TSMC in Amsterdam last Tuesday?
Yes.

Has hashrate been going ballistic of late?
Yes.

Did Yifu only after weeks of ignoring any and every form of contact create a thread within hours of suggestions to contact Interpol after disappearing with millions in advance customer funds without any delivery at an agreed date despite having proof he was in possession of those chips two weeks earlier?
Yes.

Has Yifu ignored addressing any of the above, clearing up the speculation which is proving to be accurate?
Yes.

Have your returns been squandered without reasonable evidence to support Bitsyncom's claims?
Yes.

Is Bitcoin now for all intents and purposes in the US now potentially legally considered a currency?
Yes.

Has any manipulation with respect to the currency's supply, and it's network coverage been wilfully manipulated and syphoned for personal gain?


These are serious questions and allegations that have been claimed from former members of Bitsyncom, leaked to the mainstream press and have for the most part been prove to be on the mark. Yifu cannot avoid explaining what's been happening behind the scenes at Bitsyncom whilst your investment and trust in him has been tarnished.

Certainly SebJu, Burnin, Terrahash, BKKCoins etc. have done nothing wrong. In fact their administration, ingenuity and communication has been exceptional. If anything I originally anticipated those guys to be the weak link in the chain!

[plasmoske]

Mafia after us. Yelp. Better not answer any email, calls, tickets and all. Oh I better hide somewhere also. A bitcoin conference is pretty big one so they won't be find to me. I'm so scared that I've created gen2 chips while in hiding. But alas, the mafia are now gone for some strange reason and I can now resume communication.

[pajak666]

I thought about sueing avalon but it would be pointless. The time the judge made his decision the chips are worth zero. So we are at some point at the mercy of Yifu. Of course if all is lost and he not even wants to pay a refund we have to sue him.

Admit it that you are afraid, community would provide you all needed funds to hire best lawyers and stuff.
Who cares about the chips, there is many more mirrions to be won at court
https://blockchain.info/address/1FGAftzSTztFSB8LMwsrdCKTyqGY6zr3sU
Remember it? the "I don't control that" address.
There are some serious money to be taken, and if this thing would go public we would possibly achieve a deal breaker for Ex-banker (Phoenix) and chinese liar (Yifu).
The investor wouldn't trust such a scumbag if it goes public and he would be aware who he is going to take care of his investment.
Yifu deserves it, so the whole bitcoin community to stop this preorder madness.

[lemonte]

I thought about sueing avalon but it would be pointless. The time the judge made his decision the chips are worth zero. So we are at some point at the mercy of Yifu. Of course if all is lost and he not even wants to pay a refund we have to sue him.

Admit it that you are afraid, community would provide you all needed funds to hire best lawyers and stuff.
Who cares about the chips, there is many more mirrions to be won at court
https://blockchain.info/address/1FGAftzSTztFSB8LMwsrdCKTyqGY6zr3sU
Remember it? the "I don't control that" address.
There are some serious money to be taken, and if this thing would go public we would possibly achieve a deal breaker for Ex-banker (Phoenix) and chinese liar (Yifu).
The investor wouldn't trust such a scumbag if it goes public and he would be aware who he is going to take care of his investment.
Yifu deserves it, so the whole bitcoin community to stop this preorder madness.

This is one of the things that surprises me about the deal that is supposedly taking place, surely the investor would have done some digging, seen a lot of these sorts of threads and realised that all is not as rosey as the bank balance is suggesting.

It's hardly like there are loads of BTC forums, simply Googling his Yifu's name brings up a few "alarming" ones.

[MinermanNC]

Gosh with all these theories and speculations about what is happening with yifu and the chips and avalon,,its almost easier for me just except what he told us yesterday at face value. How ever bizarre things may seem, they may really be held up in customs and he really may have another chip route and supply in the works? And they really may be in development of Gen 2 chips and 3 and 4..lol. The way I see it is, yifu didnt have to come into the thread and say anything if he was on the take or getting ready to blow us all off, he could have simply just never came back. I certainly don't think all the chatter in here of law suits and all that mumbo jumbo caused him to appear for us,,then tell us some lies and then vanish again. I think there may be some merit to what he has stated to us. I feel, he really didn't know what to tell us for a month,,cause he probably didn't know himself? So now he has something to tell us and he did come back in with a report. Not what we wanted to hear of course, but he did come back. So slam and threatened all we want but its not going to change things at the present time. Perhaps he will come back in today or tomorrow with a better update or maybe news and ETA's of the chips?...ok, my 2 cents for now. Next week at this time it may be another story!!  

[andrei.u]

Avalon Guys are Straight,

They won't cheat on you like BFL....
We were within the first guys who ordered 1 Batch of ASICS and it was shipped almost 2 weeks ago ( it was 5 days in customs- since monday) ....So it all depends on when you made your order...
You should better worry about other things and have the PCBs and parts ready for the arrival of the chips.

[zurg]

Gosh with all these theories and specualtion about what is happening with yifu and the chips and avalon,,its almost easier for me just except what he told us yesterday at face value. How ever bizarre things may seem, they may really be held up in customs and he really may have another chip route and supply in the works? And they really may be in development of Gen 2 chips and 3 and 4..lol. The way I see it is, yifu didnt have to come into the thread and say anything if he was on the take or getting ready to blow us all off, he could have simply just never came back. I certainly don't think all the chatter in here of law suits and all that mumbo jumbo caused him to appear for us,,then tell us some lies and then vanish again. I think there may be some merit to what he has stated to us. I feel, he really didn't know what to tell us for a month,,cause he probably didn't know himself? So now he has something to tell us and he did come back in with a report. Not what we wanted to hear of course, but he did come back. So slam and threatened all we want but its not going to change things at the present time. Perhaps he will come back in today or tomorrow with a better update or maybe news and ETA's of the chips?...ok, my 2 cents for now. Next week at this time it may be another story!!  

MinermanNC is going soft on us... what is the world coming to?

[lajz99]

Avalon Guys are Straight,

They won't cheat on you like BFL....
We were within the first guys who ordered 1 Batch of ASICS and it was shipped almost 2 weeks ago ( it was 5 days in customs- since monday) ....So it all depends on when you made your order...
You should better worry about other things and have the PCBs and parts ready for the arrival of the chips.

Okay, Yifu2, whatever you say...

[MinermanNC]

Gosh with all these theories and specualtion about what is happening with yifu and the chips and avalon,,its almost easier for me just except what he told us yesterday at face value. How ever bizarre things may seem, they may really be held up in customs and he really may have another chip route and supply in the works? And they really may be in development of Gen 2 chips and 3 and 4..lol. The way I see it is, yifu didnt have to come into the thread and say anything if he was on the take or getting ready to blow us all off, he could have simply just never came back. I certainly don't think all the chatter in here of law suits and all that mumbo jumbo caused him to appear for us,,then tell us some lies and then vanish again. I think there may be some merit to what he has stated to us. I feel, he really didn't know what to tell us for a month,,cause he probably didn't know himself? So now he has something to tell us and he did come back in with a report. Not what we wanted to hear of course, but he did come back. So slam and threatened all we want but its not going to change things at the present time. Perhaps he will come back in today or tomorrow with a better update or maybe news and ETA's of the chips?...ok, my 2 cents for now. Next week at this time it may be another story!!  

MinermanNC is going soft on us... what is the world coming to?

lol, just succumbing to the reality of it all,,,maybe this way i can keep my stress level down and blood pressure