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

[retro72]

I'm not sure if this was asked before. By the time they deliver the units, wouldn't the difficulty rate be at a point which would render the 5mhs or 25mhs you're getting useless?

The asics will not provide and exponential hash rate increase like we've seen with sha-256. In fact GPU's will be able to compete as far as hashing power goes, but the Asic will win on less energy consumption so the electric bill wont be so astronomical.

^-- This is the best reason for these machines. If I can cut down from using 100amps of power and get the same--even more--hashrate.. I'd be super thrilled.

Yeah great at what expense though? That is a hefty price to pay for a cut in the energy bill, upfront, and who knows where the price will be next year.

If I examine it purely from an electric bill standpoint, the unit would pay for itself instantly as soon as it began mining. How could you not see the benefit? Even if the machine only mined at half the estimated speed and took up 1,000watts, it's still ahead of the game. At least for me. I use scryptmining to pay for its electric bill, and to still provide profit. Something like this is a benefit, despite the cost.

You are all assuming that the company will deliver and will stand behind their promises. If they do deliver then yea, you will double your profit because you won't pay astronomical electric bills.

On the other hand but you are paying upfront 2-6 months in advance and that money isn't mining while you wait, meanwhile you could purchase GPUs and start mining, and by the 4 month mark your rig will have paid for itself even with the electric bills.

Keep funding them with your money for a promise that doesn't even have such a good return/risk ratio

Such is the gamble. Speak with your wallet.
We get it, it is a no for you. It is a yes for many of us. We are taking the chance.
Being in Cryptos is a HUGE chance anyways for most people, getting into ASIC SHA256 mining is a chance on top of that and now into Scrypt mining (the FIRST one), is an even huger chance.
I like the chance. I like being a part of history, regardless of the results.
Such is life.

You say its a gamble. What do you think your odds are? 2-1, 5-1, 10-1,50-1? Based on what I've seen from this company I would say you're 10-1 against ever receiving anything from them. Is the reward 10x the stake? No at best you will break even or make a small profit. Scrypt Asics will just not give the kind of rewards SHA asics did. Any smart gambler knows you weight up the risk (money in/odds ) vs reward (total payout). So if the risk is £1000 at 10-1 I would expect £11000 back (£10000 +stake) You will never see that from this company.  Let me explain to you why I think the odds are so high.

1. No one knows who runs this company. They are just a figment of the internet. Who is their CEO, CFO, MD? They could fold at any time and disappear.
2. You have no idea where they are actually based apart from a photo of an abandoned kebab shop. All the update and forum time stamps point to them being in India although they claim to be in the UK.
3. You have not seen a legit prototype. Just an FPGA hashing that members of this forum could put together.
4.  Dexcell are their design partner, not business partner. They are paid for their services and have no link to Alpha other than that. If Alpha stop paying Dexcell go away.
5. KNC or other established companies could easily enter this market. KNC are already working on a scrypt ASIC http://www.coindesk.com/scrypt-miners-cryptocurrency-arms-race/
6. They are still at the design stage. All they have said is purely theoretical at this point, there is a long way to go from here to finished product. A lot could go wrong.
7. They are liars/incompetent. They have lied or misrepresented several things. Read through the posts. Most notably regarding their Registered address and their trading address, the VAT issues and DDos attacks.

Now I know a lot of people don't want to hear this but we as a community need to make sure people understand the risk. People are coming here and posting that they have bought these things, if those of us who thought it was unwise said nothing people new to the forum or the thread would think there was no risk at all.  There is a huge risk and it is our duty to point it out or expect another BFL, Payonix or TerraHash. Some of you people act as if they never happened. Maybe if they hadn't and no one had ever been scammed in cryptos I would understand your optimism. But they did and weighting up the odds against this company I would urge extreme caution. 

[Its About Sharing]

I'm not sure if this was asked before. By the time they deliver the units, wouldn't the difficulty rate be at a point which would render the 5mhs or 25mhs you're getting useless?

The asics will not provide and exponential hash rate increase like we've seen with sha-256. In fact GPU's will be able to compete as far as hashing power goes, but the Asic will win on less energy consumption so the electric bill wont be so astronomical.

^-- This is the best reason for these machines. If I can cut down from using 100amps of power and get the same--even more--hashrate.. I'd be super thrilled.

Yeah great at what expense though? That is a hefty price to pay for a cut in the energy bill, upfront, and who knows where the price will be next year.

If I examine it purely from an electric bill standpoint, the unit would pay for itself instantly as soon as it began mining. How could you not see the benefit? Even if the machine only mined at half the estimated speed and took up 1,000watts, it's still ahead of the game. At least for me. I use scryptmining to pay for its electric bill, and to still provide profit. Something like this is a benefit, despite the cost.

You are all assuming that the company will deliver and will stand behind their promises. If they do deliver then yea, you will double your profit because you won't pay astronomical electric bills.

On the other hand but you are paying upfront 2-6 months in advance and that money isn't mining while you wait, meanwhile you could purchase GPUs and start mining, and by the 4 month mark your rig will have paid for itself even with the electric bills.

Keep funding them with your money for a promise that doesn't even have such a good return/risk ratio

Such is the gamble. Speak with your wallet.
We get it, it is a no for you. It is a yes for many of us. We are taking the chance.
Being in Cryptos is a HUGE chance anyways for most people, getting into ASIC SHA256 mining is a chance on top of that and now into Scrypt mining (the FIRST one), is an even huger chance.
I like the chance. I like being a part of history, regardless of the results.
Such is life.

You say its a gamble. What do you think your odds are? 2-1, 5-1, 10-1,50-1? Based on what I've seen from this company I would say you're 10-1 against ever receiving anything from them. Is the reward 10x the stake? No at best you will break even or make a small profit. Scrypt Asics will just not give the kind of rewards SHA asics did. Any smart gambler knows you weight up the risk (money in/odds ) vs reward (total payout). So if the risk is £1000 at 10-1 I would expect £11000 back (£10000 +stake) You will never see that from this company.  Let me explain to you why I think the odds are so high.

1. No one knows who runs this company. They are just a figment of the internet. Who is their CEO, CFO, MD? They could fold at any time and disappear.
2. You have no idea where they are actually based apart from a photo of an abandoned kebab shop. All the update and forum time stamps point to them being in India although they claim to be in the UK.
3. You have not seen a legit prototype. Just an FPGA hashing that members of this forum could put together.
4.  Dexcell are their design partner, not business partner. They are paid for their services and have no link to Alpha other than that. If Alpha stop paying Dexcell go away.
5. KNC or other established companies could easily enter this market. KNC are already working on a scrypt ASIC http://www.coindesk.com/scrypt-miners-cryptocurrency-arms-race/
6. They are still at the design stage. All they have said is purely theoretical at this point, there is a long way to go from here to finished product. A lot could go wrong.
7. They are liars/incompetent. They have lied or misrepresented several things. Read through the posts. Most notably regarding their Registered address and their trading address, the VAT issues and DDos attacks.

Now I know a lot of people don't want to hear this but we as a community need to make sure people understand the risk. People are coming here and posting that they have bought these things, if those of us who thought it was unwise said nothing people new to the forum or the thread would think there was no risk at all.  There is a huge risk and it is our duty to point it out or expect another BFL, Payonix or TerraHash. Some of you people act as if they never happened. Maybe if they hadn't and no one had ever been scammed in cryptos I would understand your optimism. But they did and weighting up the odds against this company I would urge extreme caution.  

- I remember having internet stocks and my family and friends saying "Sell now! That is a lot of money!" But it wasn't about the money, it was about taking a chance on something new and innovative. I ended up being right.
- I remember, just last year being told "That BTC thing is such a risk, no way should you get involved." I bought in and sold a small portion at 800 to pay for my initial investment." Regardless of the outcome, I ended up being right again.
- I got involved in a few Group Buy hosted mining ventures and there were lots of scams out there. Not the best investment but it paid for itself (already and still going). Just fun, not about the money. Just playing.
- I got involved in a Group Buy for a physical BTC miner (Bitfury chips). Again, I just got "lucky" and found 80 GH/s that uses 80 watts only. Already paid for itself again.
- I was told "Don't get in LTC. It is a scam." But I bought a few at $3... You know.
- I bought a BFL Jalapeno - was never being delivered so I upgraded it to 48GH/s of "mining by the GH" - It looks like I lost on that one!

I won't lose a penny on my purchase, all a part of a bigger chance from my profits (if you want to look at it that way.) To me, again, it is not the money. It is fun.
I don't care what you think. I've done fine on my own. I'm just having fun. I think you are taking it all too seriously. It is just money. I live simply and actually don't make much money, not at all. Money to me is energy, exchange, etc. What comes around goes around. If I am wrong and you are right, then I get to say "I was wrong." and congrats to you. Ok? Let's wait and find out.

If you want to go on protecting people, by all means do so. Probably a good thing. But some of us live a bit more outside the mind, outside of reason, outside of the rational. (To a point).
I like the mystery and the chances in life. I listen. I adjust, I adapt...

[retro72]

^^
Well that's nice for you to not have to worry about money and be able to gamble with it so recklessly. Most here aren't in that position.

I have made  a very tidy sum mining and trading BTC, LTC and PPC. I haven't lost a penny on any get rich quick scams though So I'm guessing my overall return % is far greater that yours.

I hope people read what you just posted and see the mindset and thinking it takes to "invest" in this. By all means recklessly gamble your way through life. But anyone here who plays blackjack will know a reckless player no matter how lucky will eventually lose his shirt to the house. You may be able to afford to do that. Most people here can't.

[jasinlee]

I hope they are legitimate, a lot of people have put money into it already.

[Its About Sharing]

^^
Well that's nice for you to not have to worry about money and be able to gamble with it so recklessly. Most here aren't in that position.

I have made  a very tidy sum mining and trading BTC, LTC and PPC. I haven't lost a penny on any get rich quick scams though So I'm guessing my overall return % is far greater that yours.

I hope people read what you just posted and see the mindset and thinking it takes to "invest" in this. By all means recklessly gamble your way through life. But anyone here who plays blackjack will know a reckless player no matter how lucky will eventually lose his shirt to the house. You may be able to afford to do that. Most people here can't.

You are missing a bit of my point.
First - I'm not reckless. If I was reckless, would I be so in the green? Think about that. You think I'm just "lucky"? I spend time researching and use intuition to a great length, that last part is hard for people to grasp. Hence my rational and such comments above.

I guess I can't argue the gambling part, but any of us are in the same boat here.
My point is in people coming on here and telling those that have bought of the risk we are taking. No Shit, we get that and have been hearing that for a long time.

It almost seems like you think we don't know what chances we are taking. Are you here to rescue us, or is it the other way around, since you like to use the words like "recklessly" to label something you can't grasp?
As I said, I live a very simple life, I don't make much money at all. 1600 or so Euro for the 5MH/s unit is a lot of money to me, but it is coming from profits. That isn't exactly "reckless".
You can't put us all into a box.

[ymer]

I'm not sure if this was asked before. By the time they deliver the units, wouldn't the difficulty rate be at a point which would render the 5mhs or 25mhs you're getting useless?

The asics will not provide and exponential hash rate increase like we've seen with sha-256. In fact GPU's will be able to compete as far as hashing power goes, but the Asic will win on less energy consumption so the electric bill wont be so astronomical.

^-- This is the best reason for these machines. If I can cut down from using 100amps of power and get the same--even more--hashrate.. I'd be super thrilled.

Yeah great at what expense though? That is a hefty price to pay for a cut in the energy bill, upfront, and who knows where the price will be next year.

If I examine it purely from an electric bill standpoint, the unit would pay for itself instantly as soon as it began mining. How could you not see the benefit? Even if the machine only mined at half the estimated speed and took up 1,000watts, it's still ahead of the game. At least for me. I use scryptmining to pay for its electric bill, and to still provide profit. Something like this is a benefit, despite the cost.

You are all assuming that the company will deliver and will stand behind their promises. If they do deliver then yea, you will double your profit because you won't pay astronomical electric bills.

On the other hand but you are paying upfront 2-6 months in advance and that money isn't mining while you wait, meanwhile you could purchase GPUs and start mining, and by the 4 month mark your rig will have paid for itself even with the electric bills.

Keep funding them with your money for a promise that doesn't even have such a good return/risk ratio

Such is the gamble. Speak with your wallet.
We get it, it is a no for you. It is a yes for many of us. We are taking the chance.
Being in Cryptos is a HUGE chance anyways for most people, getting into ASIC SHA256 mining is a chance on top of that and now into Scrypt mining (the FIRST one), is an even huger chance.
I like the chance. I like being a part of history, regardless of the results.
Such is life.

Well you are here for the gamble and the thrill, not for making sensitive decisions. My post was about sensitive decisions.

[Its About Sharing]

I'm not sure if this was asked before. By the time they deliver the units, wouldn't the difficulty rate be at a point which would render the 5mhs or 25mhs you're getting useless?

The asics will not provide and exponential hash rate increase like we've seen with sha-256. In fact GPU's will be able to compete as far as hashing power goes, but the Asic will win on less energy consumption so the electric bill wont be so astronomical.

^-- This is the best reason for these machines. If I can cut down from using 100amps of power and get the same--even more--hashrate.. I'd be super thrilled.

Yeah great at what expense though? That is a hefty price to pay for a cut in the energy bill, upfront, and who knows where the price will be next year.

If I examine it purely from an electric bill standpoint, the unit would pay for itself instantly as soon as it began mining. How could you not see the benefit? Even if the machine only mined at half the estimated speed and took up 1,000watts, it's still ahead of the game. At least for me. I use scryptmining to pay for its electric bill, and to still provide profit. Something like this is a benefit, despite the cost.

You are all assuming that the company will deliver and will stand behind their promises. If they do deliver then yea, you will double your profit because you won't pay astronomical electric bills.

On the other hand but you are paying upfront 2-6 months in advance and that money isn't mining while you wait, meanwhile you could purchase GPUs and start mining, and by the 4 month mark your rig will have paid for itself even with the electric bills.

Keep funding them with your money for a promise that doesn't even have such a good return/risk ratio

Such is the gamble. Speak with your wallet.
We get it, it is a no for you. It is a yes for many of us. We are taking the chance.
Being in Cryptos is a HUGE chance anyways for most people, getting into ASIC SHA256 mining is a chance on top of that and now into Scrypt mining (the FIRST one), is an even huger chance.
I like the chance. I like being a part of history, regardless of the results.
Such is life.

Well you are here for the gamble and the thrill, not for making sensitive decisions. My post was about sensitive decisions.

Try not to manipulate my words. I see English is not your first language, but no excuse for manipulation of what I said.
Taking a word out of what I say, does not mean my perspective is based on it.

Good luck to you and I hope you make a sensible decision. But don't forget the heart and intuition...

[gamer4156]

There will be many more scrypt coins and a 5MH 100 watt miner that is easily transportable could hold value for years.

[FreePls]

Do they work for scrypt jane too?

If not i am sure all future altcoins will base on scrypt jane to avoid ASIC miners on scrypt

[retro72]

^^
Well that's nice for you to not have to worry about money and be able to gamble with it so recklessly. Most here aren't in that position.

I have made  a very tidy sum mining and trading BTC, LTC and PPC. I haven't lost a penny on any get rich quick scams though So I'm guessing my overall return % is far greater that yours.

I hope people read what you just posted and see the mindset and thinking it takes to "invest" in this. By all means recklessly gamble your way through life. But anyone here who plays blackjack will know a reckless player no matter how lucky will eventually lose his shirt to the house. You may be able to afford to do that. Most people here can't.

You are missing a bit of my point.
First - I'm not reckless. If I was reckless, would I be so in the green? Think about that. You think I'm just "lucky"? I spend time researching and use intuition to a great length, that last part is hard for people to grasp. Hence my rational and such comments above.

I guess I can't argue the gambling part, but any of us are in the same boat here.
My point is in people coming on here and telling those that have bought of the risk we are taking. No Shit, we get that and have been hearing that for a long time.

It almost seems like you think we don't know what chances we are taking. Are you here to rescue us, or is it the other way around, since you like to use the words like "recklessly" to label something you can't grasp?
As I said, I live a very simple life, I don't make much money at all. 1600 or so Euro for the 5MH/s unit is a lot of money to me, but it is coming from profits. That isn't exactly "reckless".
You can't put us all into a box.

Brother, I think you're missing my point. Not everyone is like you. You've been around a while, grown profits, banked some and invested others. That's good, absolutely the way to play this and I commend you for that. BUT there are going to be a lot of people putting this on their credit cards and crossing their fingers. Remember how many people came crying to this forum when Payonix scammed them?

Most people taking this risk are doing it in the hopes of massive profits. They WILL NEVER SEE THEM. In fact they will be lucky to ever see a working product. This needs to be pointed out. Once all the facts are on the table then by all means make an INFORMED choice. But don't roll the dice and hope for a six.

C'mon man you really think I can't grasp this? Of course I can and on my risk scale I think reckless is being generous. Deluded may be more appropriate. You say you research. Tell me five CONCRETE and VERIFIABLE FACTS about this company? If you can't I would say that it is truly reckless to invest. I don't think that's an unreasonable conclusion.

There is really no point going around and around on this. I wish you the best as I would hate to see anyone get taken for a ride. If it pans out I'll be the first to applaud your success. But in the long run people who play with fire in this way will get burned.

[barruka]

I have paid with PAYPAL, this is a phisical product so if they dont deliver, PAYPAL will refund my money back, isnt it?

[retro72]

I have paid with PAYPAL, this is a phisical product so if they dont deliver, PAYPAL will refund my money back, isnt it?

Nope. 1. Paypal do not allow the sale of bitcoin or bitcoin miners so Alpha's account is not legit. 2 Paypal only offer a 45 day return policy. You'll be waiting six months probably.

[Nullu]

I have paid with PAYPAL, this is a phisical product so if they dont deliver, PAYPAL will refund my money back, isnt it?

Not after 60 days they won't. No.

The preorder time basically negates any chance of you getting your money back through a card chargeback or paypal dispute if they never deliver.

[markm]

I have paid with PAYPAL, this is a phisical product so if they dont deliver, PAYPAL will refund my money back, isnt it?

Probably not.

From other posts over the years I have the impression that Paypal does not refund money that Paypal cannot seize.

If the scammer has no money in their Paypal account, having already taken it all out, I think Paypal just goes like oh well too bad there is no money to refund you...

-MarkM-

[barruka]

so lets see how are things working in next 30 days...

[Its About Sharing]

^^
Well that's nice for you to not have to worry about money and be able to gamble with it so recklessly. Most here aren't in that position.

I have made  a very tidy sum mining and trading BTC, LTC and PPC. I haven't lost a penny on any get rich quick scams though So I'm guessing my overall return % is far greater that yours.

I hope people read what you just posted and see the mindset and thinking it takes to "invest" in this. By all means recklessly gamble your way through life. But anyone here who plays blackjack will know a reckless player no matter how lucky will eventually lose his shirt to the house. You may be able to afford to do that. Most people here can't.

You are missing a bit of my point.
First - I'm not reckless. If I was reckless, would I be so in the green? Think about that. You think I'm just "lucky"? I spend time researching and use intuition to a great length, that last part is hard for people to grasp. Hence my rational and such comments above.

I guess I can't argue the gambling part, but any of us are in the same boat here.
My point is in people coming on here and telling those that have bought of the risk we are taking. No Shit, we get that and have been hearing that for a long time.

It almost seems like you think we don't know what chances we are taking. Are you here to rescue us, or is it the other way around, since you like to use the words like "recklessly" to label something you can't grasp?
As I said, I live a very simple life, I don't make much money at all. 1600 or so Euro for the 5MH/s unit is a lot of money to me, but it is coming from profits. That isn't exactly "reckless".
You can't put us all into a box.

Brother, I think you're missing my point. Not everyone is like you. You've been around a while, grown profits, banked some and invested others. That's good, absolutely the way to play this and I commend you for that. BUT there are going to be a lot of people putting this on their credit cards and crossing their fingers. Remember how many people came crying to this forum when Payonix scammed them?

Most people taking this risk are doing it in the hopes of massive profits. They WILL NEVER SEE THEM. In fact they will be lucky to ever see a working product. This needs to be pointed out. Once all the facts are on the table then by all means make an INFORMED choice. But don't roll the dice and hope for a six.

C'mon man you really think I can't grasp this? Of course I can and on my risk scale I think reckless is being generous. Deluded may be more appropriate. You say you research. Tell me five CONCRETE and VERIFIABLE FACTS about this company? If you can't I would say that it is truly reckless to invest. I don't think that's an unreasonable conclusion.

There is really no point going around and around on this. I wish you the best as I would hate to see anyone get taken for a ride. If it pans out I'll be the first to applaud your success. But in the long run people who play with fire in this way will get burned.

Brotherman   - Fair enough. I can totally agree with the first two paragraphs above! I was more defending me. Point taken.

Regarding my "grasp" comment - I was purely talking about using intuition to guide myself in decisions. That is something most can't or won't grasp. I mix it with logic.

To help others out, I'd still like to answer your question - regarding concrete facts. I'd like to add, my concern with this venture is not with it being a scam, rather, as with all the other companies who have come before (minus KNC to a large degree), they haven't met the deadlines. I don't have 5 concrete facts about the companies in question, but I never do. As I stated I do research and use my intuition. The latter is my final decision maker. I'm right way more than wrong using this method. I also haven't done background checks on the people running the companies, but I've looked into the companies. A few concrete facts and points of interest:

1 - Alpha Technology - The big unknown and a worry to a degree (I'd like more info). A new company - I think they started in April of last year!
2 - Dexcel Designs - Great news - They are a reputable company that has been around for 13 years or so. And they state the partnership with Alpha Technology on their website - http://dexceldesigns.com/news_events.html They must clearly be doing something with Alpha Technology and with the promised updates and transparency, I am not on high alert here - but still cautious.
3 - This thread was started by Alpha Technology on October 19th. Deposit payments (not full payments) started being accepted yesterday, that is around 10 weeks after first mention. Not a huge confidence builder but at least we can say there has been some planning, communication (there has), followups, etc. And related - next point
4 - Alpha Technology - Moving away from the 100% pay up front model to 30% deposit model. This limits our risks in a few ways and is a nice change. Most notably the CEO, Mohammed Akram, has made it clear that we need a transparent process along the way, with videos, updates, etc. As mentioned here - http://www.coinsigner.com/Blog/alpha-technology-takes-pre-orders-for-litecoin-asic-miners/ If the final payment is 8-10 weeks before delivery and we have a deliver of Q2 or Q3, that means we can conservatively say we expect 4 plus months of updates before final payment. That is a long time in this process. I just don't see it being a complete scam. Why do all the work (or fabricate and lie about it which is tough to get away with in this field)?

That said, I will be sure to make my last payment via Pay Pal (Credit Card) to add some security to my purchase. Hopefully that option doesn't vanish!

IAS

[retro72]

Well I wish you the best.

In the interests of full disclosure I said exactly the same things about KNC and I was wrong. They later won me over with their meet and greet and their openness. I still didn't pre-order though. I bought in after they shipped and have made a very nice return on that investment. Granted not as much as batch one orders but more than enough to keep me happy.

I've invested bitcoin heavily in Cointerra and will invest in a scrypt Asic but this is pure profit, essentially "free" bitcoin so no capitol at risk. Hopefully KNC will pull their finger out an develop a scrypt asic. It would be nice to see a trusted name in the mix rather than all these six month old anonymous start ups.

I would buy an Alpha Asic after they have shipped but right now the risk/reward ratio is far too great for me. Even with "free" bitcoin. Good luck to those who have though. 

[^CJ^]

https://www.companiesintheuk.co.uk/ltd/alpha-technology-(int)

leading to

https://www.companiesintheuk.co.uk/director/9540011/mohammed-akram

and

https://www.companiesintheuk.co.uk/director/10032918/mohammed-akram

Interesting, anyone heard of these guys before?

[CumpsD]

Here's Google Maps Streetview:

https://www.google.be/maps/preview#!data=!1m8!1m3!1d3!2d-2.219968!3d53.452256!2m2!1f170.34!2f83.43!4f75!2m9!1e1!2m4!1sLMPfryFnak8qKHBjQp7P_g!2e0!9m1!6sA6010!5m2!1sLMPfryFnak8qKHBjQp7P_g!2e0&fid=5

Before the billboard got added

[retro72]

Interesting.........

Mohammed Akram terminated his directorship of Alpha on the 29th of December, then reissued it as Mohammed Jafar Akram , using Alpha's company address as his home address. Looking at the history of this company They have only been around as Alpha since 22nd July.
The company director has changed his name 3 times, Mohammed Akram, Mohammed Jafar Akram, Mohammed Mubasher Akram. Its moved addresses twice and asked to be stuck off. https://www.companiesintheuk.co.uk/Company/AllDocuments/alpha-technology-(int)

That's some shady shit.