Alpha Technology Litecoin (Scrypt) ASIC Miner Order Batch 1 Now!

[Derekman]

First: There's no chance they have a real lawyer.  If they did, they'd redirect every single person to them.  

The problem with the route of court-action is that once AT don't show up to court, and the customer is favoured in the verdict, then what? The court-appointed bailiffs are pretty useless and actually getting the money that the court says you are owed can be much harder than winning in court.

You get the claim sent to the high court for £60. Then High Court Sheriffs have much more powers.

This is true, they do - but this is another process that takes time to implement but even with the best bailiffs in the world, what assets can they take? Answer: Only those belonging to the debtor (in this case the company itself).

Bailiffs are not the answer here. It will take months before they get into any premises (original court ruling + initial bailiff notice + initial rubbish bailiff + high court ruling + more bailiffs + `last resort' forcing entry) and once they are inside the company premises all they can take are assets that belong to company - I don't know what people are expecting those to be but I somehow doubt the company haven't thought about this already. I'm not sure what the rules are about bailiffs and company debts - the assumption here seems to be that the bailiffs can go round to companies as they can individuals.

Lock their bank accounts. You can do this with friends of Putin, you can do this with Alpha.

That will make sure that they go bankrupt and you pre-ordered guys loose money.
They may not have nothing for you to liquidate than the worthless rented ugly office shown in that picture.
It seems they are trying to deliver but a lot of other factors including their lack of capacity and experience
being a manufacturer of think kind of a hardware killed their intention.
So, I don't think they are trying to scam. They will finally deliver if you are not going for legal action and hit them.
The resultant will be filing bankruptcy if possible.
Never think of getting your money back since they have nothing in bank to give you or the legal system can take and give.

The possible option is to group all the pre-ordered customers and send some representative to discuss in person with the company owner. Understand the real problem and help them by helping you to sort it out by setting a new date.
Adjust the price & hash power as per the date. And black&white it with the help of some advocates.
This will only give you some return for your pre-order otherwise nothing going to get back than a small % refund of your pre-order, that too if you are extremely lucky.
You guys have no other choice than sorting it out like this.

I think they will file for insolvency soon anyways. Shuffle funds/development off to another company and/or flee the country. it would not surprise me if they are out of the country right now, and all last week was a ruse to give them time to "legitimately" transfer funds and board plane. My feeling is we have lost everything anyway. I do not expect to see a penny back but they need to be brought to account for their failure to adhere to UK regulations.

I would love to know where the MD got his Masters from. Everything now stinks.

the only way to secure anything is to get an injunction on the company and i don't have enough money for that. We would need Baristers (£500 per hour) and solicitors (£250 per hour) and with all the evidence and people involved it would be a huge task sifting through the information. this is what they are relying on. so only the authorities can deal with them properly.

[1714908226]

1714908226

[wilson1973]

I don't think they will do anything unlawfully with the funds or with closure / insolvency process - whichever comes first!

As I understand it one of the directors (not the father) is a practicing accountant, for which he has spent many years studying. If they were to do anything unlawful on exit then he would not be able to a) be a company director for a number of years, or b) lawfully practice as an accountant ever again.

I think if anything these guys will close down legitimately, however that said I don't believe there will be any funds/assets left to distribute to creditors as any cash they did have has been spent at Dexcel/Foundry.

[zurg]

So, for 50Mh/s I made a 30% deposit of 405 pounds  = 681.674 USD (as of right now) that I wont see until probably until Oct/Nov

Now I can buy a 44Mh/s for $799
http://zoomhash.com/collections/top-sellers/products/44mhs-scrypt-asic-miner-1000w-delivery-within-10-days-or-it-is-free

Hmmm.

[allcoinminer]

So, for 50Mh/s I made a 30% deposit of 405 pounds  = 681.674 USD (as of right now) that I wont see until probably until Oct/Nov

Now I can buy a 44Mh/s for $799
http://zoomhash.com/collections/top-sellers/products/44mhs-scrypt-asic-miner-1000w-delivery-within-10-days-or-it-is-free

Hmmm.

They are not comparable since the parameter are different even if the price is higher.
The miner price of $799 for 44Mhs miner consumes 1000Watts.
But the 50Mhs Alfa-T miner, if they deliver, consumes only 375Watts.
The lower power consuming miner can also be run for many more difficulty cycles that the counter part.
So the final out of both are different after deducting electricity expenses.
All depends only if they delivery at least in the next delivery date.

[Xell]

As I understand it one of the directors (not the father) is a practicing accountant, for which he has spent many years studying. If they were to do anything unlawful on exit then he would not be able to a) be a company director for a number of years, or b) lawfully practice as an accountant ever again.

There is currently only one appointed director: AKRAM, MOHAMMED MUBASHER (MR) - is that who you mean?

Freezing bank accounts is hardly an option, not least because the company has had ample time to move any money out of company accounts. Legal action, bailiffs and otherwise can only take what the company has.

[vesperwillow]

So, for 50Mh/s I made a 30% deposit of 405 pounds  = 681.674 USD (as of right now) that I wont see until probably until Oct/Nov

Now I can buy a 44Mh/s for $799
http://zoomhash.com/collections/top-sellers/products/44mhs-scrypt-asic-miner-1000w-delivery-within-10-days-or-it-is-free

Hmmm.

They are not comparable since the parameter are different even if the price is higher.
The miner price of $799 for 44Mhs miner consumes 1000Watts.
But the 50Mhs Alfa-T miner, if they deliver, consumes only 375Watts.
The lower power consuming miner can also be run for many more difficulty cycles that the counter part.
So the final out of both are different after deducting electricity expenses.
All depends only if they delivery at least in the next delivery date.

Hash now has always been proven to be better than hash later, regardless of power consumption. 44mh from here till oct would be better than 44mh oct-infinity.

Or, at this point for most Alpha customers, just spend $799 on the coin you wanted to mine, and hold it.

[VJLoops]

Just sent my registered letter.

Here you go Alpha:  RR767320495ES   

[wilson1973]

As I understand it one of the directors (not the father) is a practicing accountant, for which he has spent many years studying. If they were to do anything unlawful on exit then he would not be able to a) be a company director for a number of years, or b) lawfully practice as an accountant ever again.

There is currently only one appointed director: AKRAM, MOHAMMED MUBASHER (MR) - is that who you mean?

Freezing bank accounts is hardly an option, not least because the company has had ample time to move any money out of company accounts. Legal action, bailiffs and otherwise can only take what the company has.

I stand corrected. I thought the resignation as director was his father, not his brother. Indeed there is only one appointment.

Anything goes !!!!

[s1gs3gv]

So, for 50Mh/s I made a 30% deposit of 405 pounds  = 681.674 USD (as of right now) that I wont see until probably until Oct/Nov

Now I can buy a 44Mh/s for $799
http://zoomhash.com/collections/top-sellers/products/44mhs-scrypt-asic-miner-1000w-delivery-within-10-days-or-it-is-free

Hmmm.

They are not comparable since the parameter are different even if the price is higher.

They are not comparable because one exists today and one does not.

[allcoinminer]

Just sent my registered letter.

Here you go Alpha:  RR767320495ES   

The Bin is also ready.
Here you go, Bin No: xxxxxxx

[allcoinminer]

So, for 50Mh/s I made a 30% deposit of 405 pounds  = 681.674 USD (as of right now) that I wont see until probably until Oct/Nov

Now I can buy a 44Mh/s for $799
http://zoomhash.com/collections/top-sellers/products/44mhs-scrypt-asic-miner-1000w-delivery-within-10-days-or-it-is-free

Hmmm.

They are not comparable since the parameter are different even if the price is higher.

They are not comparable because one exists today and one does not.

Well said! Taking pre-orders are an unhealthy method for these small devices.
They could simply sell from stock. By pre-order they are transferring each and every risk to customers.
Can't compare pre-orders of mining hardware manufacturers to reputed fiat companies pre-order.

[anderl]

So, for 50Mh/s I made a 30% deposit of 405 pounds  = 681.674 USD (as of right now) that I wont see until probably until Oct/Nov

Now I can buy a 44Mh/s for $799
http://zoomhash.com/collections/top-sellers/products/44mhs-scrypt-asic-miner-1000w-delivery-within-10-days-or-it-is-free

Hmmm.

They are not comparable since the parameter are different even if the price is higher.

They are not comparable because one exists today and one does not.

It always boils down to this

[zurg]

I just talked to PayPal. They said that I should call my CC immediately to start a dispute.
Only after CC contacts them they will pick up the dispute.
Sounded like they didn't care if it was over 45 days.

[dekodoge]

Surely if dexcel designed the ASIC and the foundry made it and it didn't work wouldn't they sue them?

[DannyAves]

So, for 50Mh/s I made a 30% deposit of 405 pounds  = 681.674 USD (as of right now) that I wont see until probably until Oct/Nov

Now I can buy a 44Mh/s for $799
http://zoomhash.com/collections/top-sellers/products/44mhs-scrypt-asic-miner-1000w-delivery-within-10-days-or-it-is-free

Hmmm.

They are not comparable since the parameter are different even if the price is higher.
The miner price of $799 for 44Mhs miner consumes 1000Watts.
But the 50Mhs Alfa-T miner, if they deliver, consumes only 375Watts.
The lower power consuming miner can also be run for many more difficulty cycles that the counter part.
So the final out of both are different after deducting electricity expenses.
All depends only if they delivery at least in the next delivery date.

How do you know it consumes 375 watts? Have you seen one?

[allcoinminer]

So, for 50Mh/s I made a 30% deposit of 405 pounds  = 681.674 USD (as of right now) that I wont see until probably until Oct/Nov

Now I can buy a 44Mh/s for $799
http://zoomhash.com/collections/top-sellers/products/44mhs-scrypt-asic-miner-1000w-delivery-within-10-days-or-it-is-free

Hmmm.

They are not comparable since the parameter are different even if the price is higher.
The miner price of $799 for 44Mhs miner consumes 1000Watts.
But the 50Mhs Alfa-T miner, if they deliver, consumes only 375Watts.
The lower power consuming miner can also be run for many more difficulty cycles that the counter part.
So the final out of both are different after deducting electricity expenses.
All depends only if they delivery at least in the next delivery date.

How do you know it consumes 375 watts? Have you seen one?

That figure is as per the company.
But it should be proven when its delivered. "If they deliver."
Look at here https://alpha-t.net/product/scrypt-asic-miner/

[vesperwillow]

Surely if dexcel designed the ASIC and the foundry made it and it didn't work wouldn't they sue them?

I brought this up awhile back, I found it odd that a proven chip design company designed a chip which didn't work. My first thought was that perhaps something went wrong in the foundry, afterall AT claims to have paid for silicone which didn't go through QA testing, in order to get it faster.

My other thought was, if in fact they were scamming, then it was a ruse all along: Paying for bum chips, and having something go wrong--all so they could build themselves machines to mine with on your dime (aka, for free), at which point they would ship them out in "September", having already ordered another batch with the new money. Remember, they did say they would build an in-house cloud mining center for the customers--and then stopped talking about it.

The other scam thought was that none of this ever actually happened--there was no design and no foundry. We do know that Drexcel, when contacted, claimed to not know who AT was and denied any relationship with them at one point.

Who knows..

[bumface]

nothing surprises me at this point

[zinner27]

So did anybody got their goodwill refund yet?  I also paid in full and they haven't refunded me anything at all yet even after they stated that they will refund some deposit as goodwill.

[anderl]

Surely if dexcel designed the ASIC and the foundry made it and it didn't work wouldn't they sue them?

I brought this up awhile back, I found it odd that a proven chip design company designed a chip which didn't work. My first thought was that perhaps something went wrong in the foundry, afterall AT claims to have paid for silicone which didn't go through QA testing, in order to get it faster.

My other thought was, if in fact they were scamming, then it was a ruse all along: Paying for bum chips, and having something go wrong--all so they could build themselves machines to mine with on your dime (aka, for free), at which point they would ship them out in "September", having already ordered another batch with the new money. Remember, they did say they would build an in-house cloud mining center for the customers--and then stopped talking about it.

The other scam thought was that none of this ever actually happened--there was no design and no foundry. We do know that Drexcel, when contacted, claimed to not know who AT was and denied any relationship with them at one point.

Who knows..

It may not be that the chips "did not work".  When ever a wafer is made there are always a number of chips on the wafer that will have low quality.  The quality may be so low that they have inherent defects, like they do not perform as fast or overheat more often.  Alpha's contract with Drexel was probably to produce a chip that has a minimum specification.  Drexel provided that.  But Alpha probably wanted to get the chips faster, so rather than complete a full tape out with several spins before masking, Alpha bought a lot of risk chips.

This is where Alpha's incompetence shines.  I speculate that Alpha thought, that getting chips early would be a win.  They can start assembling the risk lot chips first, and when the money starts rolling using the higher quality chips in later batches which they can call "optimized".  What they didn't realize was the significantly poor quality.  Which is typical of the first tape out.

So Alpha spent the remaining money (the 30%) to get the risk lot and on what ever else.  So they probably couldn't pay off Drexel.  So Drexel holds on to the chips.  This is when Alpha comes up with the idea in May to announce tape-out and final payment.  They figure they can pay Drexel or the Foundry with the remaining funds. 

But people want CC and they want the prototype and they hold off paying.  This is where everything goes down hill fast.