Official Thread: AMT

[majalen33]

Selling ORDER # 870  3 miners because AMT wont give me a refund    Leaving for active duty April 7th and need to get rid of them as training is at least a year long in multiple states

[Stan-O]

No actually you need to mine for 6 months before being upgraded, please read the MPP carefully. And maybe we can try and help you out here.

AMT knows that the SHA-256 coin mining space is somewhat volatile and coin miners can be somewhat concerned with hardware purchases these days. That’s why we guarantee enough hashing power to meet ROI and then some, when mining SHA-256 coin. If the networks increases to a point where your investment in our technology is no longer profitable, AMT will upgrade your Miner to the next level Miner absolutely free. We want our clientele to succeed and prosper together with.

Miner protection is automatically applied to all purchases from AMT and is valid from the date 09/26/2013. Although in the future, we may add this as an additional paid option during the purchase process. Purchases prior to this update are covered under the Miner protection plan automatically.
How it works:

AMT will receive your order, if the networks hash rate increases to the point where your miner can no longer meet ROI we will upgrade your miner to the next level of AMT miners.
Example:

If you purchase an AMT Steadfast 80ghs and the network hash rate increases to the point where your mining cannot meet ROI from the suggested shipment date for a six month time period, while mining SHA-256 coin, we will ship you a AMT 220ghs absolutely free.
It’s that simple.

Although, there maybe some clientele who would like to mine other SHA-256 coin because other SHA-256 coins are actually more profitable than Bitcoin in the moment. Those clients can opt to receive their miner as planned. If the networks increases to the point where the buyer cannot meet ROI, we will allow the buyer to decide if he/she would like to participate in the AMT miner protection program prior to their miner being shipped. When the buyer’s miner is ready to be shipped, we will give that buyer the option of shipping the original miner which they purchased, or to upgrade to the next AMT miner which will allow them to meet ROI and more. Although, the buyer will have to wait until that unit/model/miner is available for shipment of course. We will contact each buyer either by telephone or email with this option at the time of shipment.

If the network increases so much that the next level miner also can’t meet ROI, the product upgrade will continue to the next AMT product which is profitable. Therefore, no matter what happens, our clientele will be left a ROI either way. Plain and simple. We want our clientele to know that AMT cares about it’s clientele and AMT is a brand that consumers can rely on and trust.

ROI is defined as “a return on investment”.

Your MPP clearly states that we will be sent an E-mail prior to the miner shipping to be given the option to upgrade if it wont be able to produce a profit within 6 mo. of the advertized ship date. my orders clearly meet the criteria laid out in your MPP. An upgrade to 2.4th/s machines is not unreasonable, again based on double to triple the advertized energy consumption and double to triple the network difficulty since the time I was supposed to receive my equipment. As I stated in my E-mail that has not been responded to the only 2 acceptable solutions at this point is to upgrade my 3 miners to 2.4th/s or refund my money. orders #676 and 716

[/quote]

Here's how the MPP really works.

I asked about the process for getting an upgrade per the MPP.  Next day i was told they were in the testing process and it should go out the following week.  

1 week later, I sent an email to AMT explaining that i ran the numbers, and the rig would not ROI, and i would like to invoke the MPP to upgrade it.  2 days later i get a reply, telling me the rig shipped the previous day.  No MPP for you!

MPP completely sidestepped, and my questions about it totally ignored.

Don't expect anything different.

[Mblackout]

up and running fully hashing.

[MrTeal]

up and running fully hashing.

What's the power draw?

[athgaurd]

Selling ORDER # 870  3 miners because AMT wont give me a refund    Leaving for active duty April 7th and need to get rid of them as training is at least a year long in multiple states

Sorry to say but I don't know anyone that would want the 3 make believe miners you paid for at this point.

[opieum2]

Looks good least it runs as advertised. I expect we will get our hardware or money back one way or the other. Personally I am hoping on hardware ROI or no.

[captin crunch]

Sir: it is not speculative. Using a bitcoin calculator and putting in the 1.2Th/s hash rate, 1500W it gives you a definitive number of at least $1800 of mining income lost. It would be speculative if I was trying to figure out lost income for April. The clock keeps ticking.  There is nothing up to the imagination, I ordered a 1.2T miner, I was promised it would ship by Feb. I lost income. Those are all facts.

Sorry, but that's not the case. Because the difficulty would have been different if you (and the others who did not but would have)received the miner(s). Every other argument you've made is valid in court. That one a first day law student would shoot down. Successfully.

100% correct.

I cheated. My wife is a lawyer. I asked her.

Could you  do me a favor and ask her if advertising 300-600 watts but delivering 900-1300 watts would be considered bait and switch or just deceptive advertising?

[sirminesalot]

Sir: it is not speculative. Using a bitcoin calculator and putting in the 1.2Th/s hash rate, 1500W it gives you a definitive number of at least $1800 of mining income lost. It would be speculative if I was trying to figure out lost income for April. The clock keeps ticking.  There is nothing up to the imagination, I ordered a 1.2T miner, I was promised it would ship by Feb. I lost income. Those are all facts.

Sorry, but that's not the case. Because the difficulty would have been different if you (and the others who did not but would have)received the miner(s). Every other argument you've made is valid in court. That one a first day law student would shoot down. Successfully.

100% correct.

I cheated. My wife is a lawyer. I asked her.

Could you  do me a favor and ask her if advertising 300-600 watts but delivering 900-1300 watts would be considered bait and switch or just deceptive advertising?

False advertising, plain and simple.

[Mblackout]

up and running fully hashing.

What's the power draw?

sorry i dont have the powre meter.  i will pick one up form depot this weekend.

[opieum2]

Well Phin thanks again for going to the trouble of going there to get the scoop. Looking forward to seeing what else you got to say about the trip. Least you got some info that we will actually get them.

[Biomech]

I don't know if worldwide difficulty would go up just because of AMT 1Th/s miners, but now it seems many manufactures are now releasing 1Th/s miners which would add up.  I am also not going to be referencing other miners. Even if difficulty was slightly higher, it would still be lost income. It's not that simple to discuss, so I will keep it at that. heh.

Understood. I don't think your argument is invalid in a general sense, I just can't see it flying in court due to the variable nature of bitcoin and the fact that the network is not static. In fact, it seems to be on another spike right now, with a whole bunch of vendors using Innnosilicon's version of the very same chip that AMT is using. Except you can actually get a dragon miner.

[FrictionlessCoin]

up and running fully hashing.

Crap.... the Controller is at 92%.  Not enough head room to cover an additional board.

[Biomech]

Sir: it is not speculative. Using a bitcoin calculator and putting in the 1.2Th/s hash rate, 1500W it gives you a definitive number of at least $1800 of mining income lost. It would be speculative if I was trying to figure out lost income for April. The clock keeps ticking.  There is nothing up to the imagination, I ordered a 1.2T miner, I was promised it would ship by Feb. I lost income. Those are all facts.

Sorry, but that's not the case. Because the difficulty would have been different if you (and the others who did not but would have)received the miner(s). Every other argument you've made is valid in court. That one a first day law student would shoot down. Successfully.

100% correct.

I cheated. My wife is a lawyer. I asked her.

Could you  do me a favor and ask her if advertising 300-600 watts but delivering 900-1300 watts would be considered bait and switch or just deceptive advertising?

It's a good argument, but not definitive. They could argue that it was based on the numbers given by the chip manufacturer, but then they should have updated in a timely fashion. I think the best you'd get for that is negligence, which is sufficient for a refund.

[athgaurd]

up and running fully hashing.

Crap.... the Controller is at 92%.  Not enough head room to cover an additional board.

Don't worry AMT will put a boost controller on and all will be well...

[xstr8guy]

Not to rub salt into anyone's wounds but did you know that right now over at CEX.io you can buy 1THs of cloudmining for just a smidge over $5000 or 10BTC?  And you would be hashing immediately.

Crazy how the tides have turned!  This doesn't bode well for anyone still waiting on a hardware preorder.  

1th at 5000 will never pay off, even with no power cost.

Just pointing out the fact that preorder 1THs miners are worthless now that you can get immediate cloudmining for the same price.

I just spent 6 BTC about a week ago on a BitMain S2 1THs miner to arrive in April.  And before it arrives, CEX.io prices will probably be lower still.  In-stock is now absolutely the only option!  Even the quick turn-around BitMain/Spondoolies et al. are looking silly if cloudhashing can get close to matching the price.

[Mblackout]

up and running fully hashing.

Crap.... the Controller is at 92%.  Not enough head room to cover an additional board.

It looks like the web interface uses much of the cpu.   I am guessing that gauge takes up quite a bit of reasources to run.   After closing the web and loging into the PI via ssh it seems its only using 60% of the cpu.

Mem: 46148K used, 450776K free, 0K shrd, 3376K buff, 15468K cached
CPU:  58% usr  26% sys   0% nic  14% idle   0% io   0% irq   0% sirq

[captin crunch]

Sir: it is not speculative. Using a bitcoin calculator and putting in the 1.2Th/s hash rate, 1500W it gives you a definitive number of at least $1800 of mining income lost. It would be speculative if I was trying to figure out lost income for April. The clock keeps ticking.  There is nothing up to the imagination, I ordered a 1.2T miner, I was promised it would ship by Feb. I lost income. Those are all facts.

Sorry, but that's not the case. Because the difficulty would have been different if you (and the others who did not but would have)received the miner(s). Every other argument you've made is valid in court. That one a first day law student would shoot down. Successfully.

100% correct.

I cheated. My wife is a lawyer. I asked her.

Could you  do me a favor and ask her if advertising 300-600 watts but delivering 900-1300 watts would be considered bait and switch or just deceptive advertising?

It's a good argument, but not definitive. They could argue that it was based on the numbers given by the chip manufacturer, but then they should have updated in a timely fashion. I think the best you'd get for that is negligence, which is sufficient for a refund.

thanks, you are probably correct but based on their behavior I don,t believe intent to deceive would be hard to prove.

[opieum2]

up and running fully hashing.

Crap.... the Controller is at 92%.  Not enough head room to cover an additional board.

Well getting another more powerful board would be an option too here and flashing that with the software....there are a few raspberry-pi like options out there including samsungs exynos5 boards which are much more powerful and yet only sip marginally more power. dumping the image from this (if its on and SDCard so much easier) and putting it onto another controller would make the most sense here. Not trivial to be sure (I have had to go through this pain hacking a chromebook with the same hardware.  

Any chance we can get close up photos of the internals? Like the rasberrypi controller? There might be ways to make this thing scream with the exynos or other arm dual/quad core chips. Transferring the image to one of those and making it scream would be good. At least creates a setup for scalability. Right now this thing is running at what it needs to run at.

[FrictionlessCoin]

Not to rub salt into anyone's wounds but did you know that right now over at CEX.io you can buy 1THs of cloudmining for just a smidge over $5000 or 10BTC?  And you would be hashing immediately.

Crazy how the tides have turned!  This doesn't bode well for anyone still waiting on a hardware preorder.  

1th at 5000 will never pay off, even with no power cost.

Just pointing out the fact that preorder 1THs miners are worthless now that you can get immediate cloudmining for the same price.

I just spent 6 BTC about a week ago on a BitMain S2 1THs miner to arrive in April.  And before it arrives, CEX.io prices will probably be lower still.  In-stock is now absolutely the only option!  Even the quick turn-around BitMain/Spondoolies et al. are looking silly if cloudhashing can get close to matching the price.

Bitmain is $518 for 180 GHs.  That is like $3/GHs
CEX.io is $5.25/GHs.
Cointerra is $2.99/Ghs ... delivery June 2014.

Nobody is his right mind should be buying a pre-order.

We are totally screwed by AMT.   Best chance right now is to take them to court on the MPP.

[clenell]

The questions have already been posted. How can you possibly delete your negative posts based on seeing a miner in an office, instead of a production facility as expected. What a waste of time. Then to get on video staggering around repeating what Josh feeds you from behind the camera, it is a total joke. I think a lot of us really expected you to go there and get some PI action going, not sell out for a miner and let them take a video of you claiming everything is fine.

check his bitcoin wallet. all im going to say. follow the trail, it's a shady one.