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

[Searing]

One helluva a good summary Searing.  Unfortunately I was one of the really stupid smuchks that paid entirely for my order with bitcoin so I'm likely screwed but wish you the best of luck getting back what you can.  

*Wasn't aware of the part that they where accountants BTW.  Adding accountants to my list of not to trust professions

If nothing else I have amex all wired up ..they are very very miffed at thru paypal and cc allowing 30% down and then the merchant being able to
cancel paypal and thus the cc protection goes poof ...very p/o'd at the idea that only way I can get my 30% back is to pay the remaining 70%
balance WITHOUT any protection via wire xfer or bank xfer..

that is a 'loophole' that may be plugged pretty fast in the merchant TOS..then they talked amex into closing my first dispute in 44 days by
sending amex a bill that I paid..neglecting to say it was the 30% down payment and the above for my refund...so when I pointed that out to
amex ..they went even further into orbit

have been talking to amex reps that are really really 'amex reps' ie corp honchos....they are not pleased in the least

you can see from amex's point of view it is them by association via paypal vouching for stuff with their amex credit card and then finding out
it is a 'vaporware' scam ..even if alpha ment to ship us something ..this loophole sure seems to fire up the amex people I've talked to

anyway I lose $$$...amex is losing big $$$ trying to figure out how to plug this hole in its future TOS for merchants I think as a result
but from amex's point of view and they have stated...with a 'normal corp/business' I should have been protected..but a business that
is supposedly 'legit' collecting 30% down then canceling paypal and cc options etc and telling the customers who paid under paypal
and cc that only way to get the 30% back is to send them 70% with no cc protection or paypal option via wire xfer or bank xfer so
essentially a 'corporation' going to 'straight cash' in midstream is as far as I can tell outside of amex's expediences up to this point...
thus amex at last I talked to them being essentially 'flumoxed' at this point on how to get $$$ back to me...

yeah...if I was amex i'd be p/o'd too....well hell if nothing else I showed amex a hole to plug in their merchant TOS etc

always there to help a corporation to save $$$ (sigh) but to be fair have gotten more help/support from amex then I have any
right to expect under the circumstances...they simply are at a loss imho on how to get $$$ back with a supposed legal
corporation that now refuses out of the blue to take paypal cc and only takes wire xfer cash...so alpha as far as I can tell
has managed to 'flumox' amex up to this point

anyway I suppose there is a 1/10 chance of amex somehow getting $$$ back ...but it does not look likely ..unless amex
eats the cash at their end ..which I doubt..if it gets to that point I'm sure they will tell me to go after them in bankruptcy
as my only option

again hope I am wrong and alpha comes/thru refunds or amex figures something out

but I think my odds are somewhat better in getting/winning a 'date' with Kate Upton.....slim to none odds on either imho

Searing

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[phzi]

@Searing: From my experience with Amex, if you actually keep pushing, they might just end up eating the cost.  The one (maybe the only) great thing about American Express, is they will really go the extra mile for their clients.

Is there a reason you aren't taking this to court?


The posts of the alpha forum today have been priceless.  The shill accounts are becoming so impressively blatant....

The few real customer accounts left must belong to completely gullible idiots that actually believe the community is responsible for Alpha-T not providing updates...

[Searing]

@Searing: From my experience with Amex, if you actually keep pushing, they might just end up eating the cost.  The one (maybe the only) great thing about American Express, is they will really go the extra mile for their clients.

Is there a reason you aren't taking this to court?


The posts of the alpha forum today have been priceless.  The shill accounts are becoming so impressively blatant....

The few real customer accounts left must belong to completely gullible idiots that actually believe the community is responsible for Alpha-T not providing updates...

I'll go the consumer protection route (links on this thread) court etc etc but basically I expect alpha to file for bankruptcy protection in the next month or so
it is unlikely there is anything to get (you saw their office pics..I suppose I could ask dibs on the couch )

but because I'm mining legal in usa (i know dumb..but have reasons due to bank wire xfers error had to show legit biz even thou banks fault on messed up 8 or
so wire xfer cancellations they pointed out as mine...fixed it but still had to file for that reason)

anyway...I can at least depreciate over time (say 4-5yts) any loss and/or depreciation of equip so I will get likely 25% back of my approx 686 usd to alpha
for my 1/3 of down payment on a vyper 50mh...so...hey with the wire xfer fee and etc probably I will end up stuck at worse with $450 loss in real $$$
not being able to apply that amount to taxes as a loss etc

so anyway could be worse almost got the what is it now 90mh unit? ....so anyway....amex will do what amex can I have that much faith in them
.they seem to be going the extra mile but as soon as alpha says 'bankrupt' then it is probably between me and alpha ...maybe I can get a 'couch button" from
 a cushion as my pay out?

it is what it is....but yeah should probably do the consumer protection link stuff .....

catch is if they would have been up front fessed up they were in trouble made a valid attempt been honorable abou this whole thing ..I'd probably have
let it slide to apply to their "next product" ie they coulda imho had an option to get the funds they need to get the boxes out by allowing folks to apply
the 30% to next product...thus ensuring funds for this product...sure a gamble ..but again intent means a lot to me...if they would have been honest
and gave us an option to help I probably would have just ate the 685 for the fact they gave it a good shot and put it to experience

but sudden banning we are the problem cause we don't want vaporware and the other parts of this clusterf**K etc ..well no oppurtunity to work with
them to get around what was likely a cash flow problem..ie they could not pay for the chips in full .thus stuck

who knows but yeah should probably look at them links in the thread for EU consumer protection and UK consumer protection stuff

Searing

[Phorna]

Fiaz Malik « Reply #34 on: Today at 11:18:49 AM »

"Apologies first of all when I said it should be released I genuinely expected it to however these updates sometimes incur a few days delay as information has to be relayed through multiple parties but it will certainly be any day now I assure you."


Jeez... 21 century and they are sending messenger from India on the horse. And he has to visit so many castles along the road. Pick up a phone and make a call you dumbass... Ahh, no sorry... my bad.  I have forgotten, they don't have a phone.  

I guess they have ordered the vipers on the Melanesia islands, you know, where "Cargo Cult" was developed. Alpha-T got the best offer from them. They went fot it. Who could blame them? When the ship came in May they got a letter that the tape out has begun. Everything was on track for delivery in July. Beginning of July they got the transport with vipers. Stuffed snakes bounded together by 50 and 250 pieces with a tape.  And we are bitching about a f.... update - highly inappropriate.

[Searing]

Fiaz Malik « Reply #34 on: Today at 11:18:49 AM »

"Apologies first of all when I said it should be released I genuinely expected it to however these updates sometimes incur a few days delay as information has to be relayed through multiple parties but it will certainly be any day now I assure you."


Jeez... 21 century and they sending messenger from India on the horse. And he has to visit so many castles along the road. Pick up a phone and make a call you dumbass... Ahh, no sorry... my bad.  I have forgotten, they don't have a phone.  

I guess they have ordered the vipers on the Melanesia islands, you know, where "Cargo Cult" was developed. Alpha-T got the best offer from them. Who could blame them? When the ship came in May they got a letter that the tape out has begun. Everything was on track for delivery on July. Beginning of July they got the transport with vipers. Stuffed snakes bounded by 50 and 250 pieces with tape.  

even at the best case scenario ....say they just got tape out and they have some stuff ready case/etc wise....at best and I mean the very very best...luck of the level
of having Kate Upton as a girlfriend lucky...they still imho (in this fantasy) could not get a scrypt miner to the public till the middle of September 2014 at BEST and that is
if everything from this point on works right ...chips are up to spec...and the dominoes all fall their way....and man am I being stupidly generous with this fantasy to the
point I'm having trouble not seeing flying unicorns just typing this.....

that is 2 months late or more....KNC Titan units will be out before then imho....so anyway it is better then getting NO equipment...but if that is the most optimistic I can
force myself to see....(and I mean forced......Mary Poppins is alive in the other room forced.....) well......dim hopes indeed....does not apply to me ...I plan on never
sending them that last 70%....can't get the unicorn faith that far up to speed don't ya know...to those of you that have paid in full...I hope the above is correct for
your sake thou...good luck!

Searing

[benjamin07]

Searing et al using amex can you please just answer one question: why isn't refund being offered to you on the basis of Insurance? (or is it that Insurance is not automatically provided to customers in the US by default?)

I'm not talking about amex standard refund policy, I am talking about stuff like:

If you pay with amex for your travel ticket, then you get travel insurance for free automatically.
If you pay with amex for an item and it is stolen within 3 month then you get reimbursed
etc.

this is usually associated with the gold/platinum cards...

[s1gs3gv]

If KNC Titan batch1 pre-orders are going for ~ USD5200 now on Ebay (originally USD10000), how much is a Viper going to be worth when Alpha-T finally (if ever) deliver ?

http://www.ebay.com/itm/KNC-Titan-300MH-scrypt-asic-miner-rig-pre-order-not-Alpha-Zeus-no-reserve-/301251631029

[Searing]

Searing et al using amex can you please just answer one question: why isn't refund being offered to you on the basis of Insurance? (or is it that Insurance is not automatically provided to customers in the US by default?)

I'm not talking about amex standard refund policy, I am talking about stuff like:

If you pay with amex for your travel ticket, then you get travel insurance for free automatically.
If you pay with amex for an item and it is stolen within 3 month then you get reimbursed
etc.

this is usually associated with the gold/platinum cards...

Well ... from what I can gather ..the 30% down is the rub...... they keep asking alpha to reply to what the heck is going on ..the first reply was 44 days and sent amex
a bill that I paid ..neglecting to say it was 30% down....amex closed the ticket...so i re-opened the ticket on them breaking the merchant TOS with amex
by only offering the 30% via paypal and cc protection and not giving me back the 30% unless I paid in full as my only option in the last 70%.....ie amex says that
is pretty much extortion...so they sent another dispute error to alpha which they will reply with some wishy washyness that probably has no legal bearing and so
the wheel of 45 day dispute will continue...they are stalling

I suppose it is POSSIBLE I could get something thru amex from some kinda fraud/insurance payback...but I paid 30% down...fraud only covers if you DID NOT
CHARGE THE ITEM from what I gather (again just asking regular reps they may be wrong) but the consensus is....because I paid the 30% down if they no
longer have a cc option account to get the $$$ back under paypal and amex cc stuff...ie alpha is only taking the equiv of cash via unsecured wire xfer or bitcoin
or litecoin...then amex has no way to get back funds...thus..because I purchased it ..was not fraud..at that point I take them to court ..or so the consensus is
according to amex regular reps...this has gone a bit higher then that at this point..I guess there is a paypal executive committee you can petition..but again
what normal corp has no access to bank accounts amex can find nor cc nor paypal etc in such a manner to take the first 30% secured and extort you for the
last 70% unsecured....thus why amex is befuddled....

but  yeah....they could (amex) say it just reeks of a scam and refund me...but again consensus of reg amex reps you regularly get on the voice line is that
because I paid (not some criminal) I probably will just have to sue alpha or some such (FTC/BBS the usual BFL run around)

catch here again is I PAID and amex said they agree in good faith...they just plain have not seen anyone from what I can tell sell vaporware and extort the
rest in such a manner before....likely it will be up to me (esp if alpha sends amex a letter saying they are going bankrupt) and/or amex simply says I should
file with UK authorities...it is that OR AMEX eats the $$$ I lost..w/o a method to get it back from alpha

and again if amex does have insurance the adjuster would probably point out it was me that paid for the initial 30% down anyway so it is up to me to get
it back in that amex did what it could in good faith but regular amex avenues are closed (esp if alpha claims bankruptcy and now again is only a cash/carry
business)

Anyway...we will see but only give myself a 1 out of 10 chance now of getting any $$$ back....this is just what is going on with amex ..I've heard others on
here discover/visa have gotten $$$ back right away by just walking the cc rep thru the above alpha antics..but amex has a dispute method with their
merchants and quite frankly imho alpha is gaming the system by waiting till the last day or so to reply..thus stalling imho till they go belly up

believe me the amex folks know all about the above and they are being played....but again it is all in amex camp.....I doubt any redress will come from alpha-t

so it goes hope you are right however and the regular amex reps and me are wrong..but again I give my self best odd only 1/10 chance to get any $$$ back.

by the by I even told AMEX that I would eat the 70 british pound fine/fee on the refund as they had in their TOS for the time alpha spends on this stuff
I thought that was only fair to take some of the lumps on this..but again ignored in the reply just a paid receipt sent and until I told amex it was only for
30% down...amex was clueless on that point...so again amex is p/o'd but if alpha is dead in the water going bankrupt may be a lost cause already

Searing


 

[Cablez]

Fiaz Malik « Reply #34 on: Today at 11:18:49 AM »

"Apologies first of all when I said it should be released I genuinely expected it to however these updates sometimes incur a few days delay as information has to be relayed through multiple parties but it will certainly be any day now I assure you."

Wow,  does he realize how much of a joke he sounds like when he spews that nonsense or is this really how they operate a business?  It really is better to just say nothing than that tripe.

[s1gs3gv]

They seem to be trying to give themselves as much time as possible to get as far away from ground zero as they can before they drop the bomb update.

[fraMI]

There is only one problem for EVERYONE with the 30% DOWNPAYMENT.....  The SNEAKY Alpha Bastards don't list it on the billing receipt as a DOWNPAYMENT !!  Look at your INVOICE.  It is listed as an "  ORDER DISCOUNT  !! So anyone that demands a refund on their 30% deposit, Alpha just says " What deposit ??, that was an ORDER DISCOUNT.  
         At least in the US a down payment is a down Payment  and a discount is a discount.

[anderl]

Fiaz Malik « Reply #34 on: Today at 11:18:49 AM »

"Apologies first of all when I said it should be released I genuinely expected it to however these updates sometimes incur a few days delay as information has to be relayed through multiple parties but it will certainly be any day now I assure you."

Wow,  doe

s he realize how much of a joke he sounds like when he spews that nonsense or is this really how they operate a business?  It really is better to just say nothing than that tripe.

"Apologies first of all when I said it should be released I genuinely expected that my brain would be able to tell my hands to write a post on the forum giving you an updated however these updates sometimes incur a few days delay as information has to be relayed through three or more brain cells but it will certainly be any day now I assure you.

-Fiaz"

[Nullu]

Personally, if it were me, I'd be doing whatever I could to legally get my money back, because as each day passes, it's looking more and more like Alpha-T are not going to ever deliver.

I'm amazed they've gotten away with it for this long.

[s1gs3gv]

… as each day passes, it's looking more and more like Alpha-T are not going to ever deliver.

If they can't deliver an update, how can they deliver a product ?

[phzi]

… as each day passes, it's looking more and more like Alpha-T are not going to ever deliver.

If they can't deliver an update, how can they deliver a product ?

Well, I do have to say that based on the recent company shares dispersal, they probably contracted the entire project to some 3rd party in China (because they failed to have it built themselves). 
So, the whole "relayed through multiple parties" line might have some truth to it.

Oh... I just almost made myself laugh.

[Slipknot79]

It remains 1 week, then i will file a report when the refund wont be transfered in my bank account this week.

[anderl]

… as each day passes, it's looking more and more like Alpha-T are not going to ever deliver.

If they can't deliver an update, how can they deliver a product ?

[Nullu]

Mebbe we can make a deal with these filthy goat fuckers??? Keep all the money so long as they fuck off back to Bangladesh and free up the air in the UK. I don't want to ever taint my eyeballs seeing names like FIAZ  and MOOKBAR and MOHAMMED and  AKRAM and IQUBALL and ABDUL in the cryptocurrency world ever again. How do we go about getting these pieces of shit deported from modern society??? HEY FAZIZ MALIKFUCKBAR CAN YOU AND YOUR KIN KINDLY FUCK OFF FROM THIS ISLAND OF OURS PLEASE

You know, as much as I think these guys are appalling businessmen. How they lie to their customers, suppress criticism, and flout the law, I don't agree with racism.

They're scum, but they're scum for the way they behave. Not because of where they came from.

Attack them for their behaviour, yes, but that's where it should begin and end. I know there's a lot of hate for these guys, but there's levels we shouldn't sink to.

[Wexlike]

Damn, i m so glad, that i didnt bought one of their preorders when coindesk announced the "first" scrypt asic last year. At that time i was still a newbie. Sad to see how it ends with these scammers.

[r-man]

Thanks2All for advices, here is email I just send them:

Hello Alpha,

1. Well I must say just again, that I'm not a business customer, I'm an individual. Ask MJAkram, your Accounts manager, he understands it , see attached Tax01. You don't even know for what I would use purchased hardware, so the statement "the hardware we are selling can only be used for mining cryptocurrencies which is a business practice according to HMRC" is completely nonsense. What if I use it for science/experimentation purposes?

2. I have no business license, I am a standart consumer and I'm not acting as a business. That's only your fradulent claim. There is NO WHERE in the HMRC does it say that mining cryptocurrencies is only a business activity. HMRC do not classify mining as a business activity, it can be done as an individual and profits treated as a Capital Gain not income. See this:
HMRC identified that all generation of profits from cryptocurrency transactions are taxable as corporate OR personal income tax.  There was not specification that the income generated was specifically corporate tax.  I hope this puts this B#$@#HIT that Fiaz is spouting to rest.

http://www.hmrc.gov.uk/briefs/vat/brief0914.htm

Corporation Tax, Income Tax and Capital Gains Tax treatment of Bitcoin and similar cryptocurrencies
As with any other activity, whether the treatment of income received from, and charges made in connection with, activities involving Bitcoin and other similar cryptocurrencies will be subject to Corporation Tax, Income Tax OR Capital Gains Tax depends on the activities and the parties involved.

Whether any profit or gain is chargeable or any loss is allowable will be looked at on a case-by-case basis taking into account the specific facts. Each case will be considered on the basis of its own individual facts and circumstances. The relevant legislation and case law will be applied to determine the correct tax treatment. Therefore, depending on the facts, a transaction may be so highly speculative that it is not taxable or any losses relievable.. For example gambling or betting wins are not taxable and gambling losses cannot be offset against other taxable profits.
For businesses which accept payment for goods or services in Bitcoin there is no change to when revenue is recognised or how taxable profits are calculated.
Corporation Tax: The profits or losses on exchange movements between currencies are taxable. For the tax treatment of virtual currencies, the general rules on foreign exchange and loan relationships apply. We have not at this stage identified any need to consider bespoke rules.

For companies, exchange movements are determined between the company’s functional currency (usually the currency in which the accounts are prepared) and the other currency in question. If there is an exchange rate between Bitcoin and the functional currency then this analysis applies. Therefore no special tax rules for Bitcoin transactions are required. The profits and losses of a company entering into transactions involving Bitcoin would be reflected in accounts and taxable under normal Corporation Tax rules.

Income Tax: The profits and losses of a non-incorporated business on Bitcoin transactions must be reflected in their accounts and will be taxable on normal income tax rules.

Chargeable gains - Corporation Tax and Capital Gains Tax: If a profit or loss on a currency contract is not within trading profits or otherwise within the loan relationship rules, it would normally be taxable as a chargeable gain or allowable as a loss for Corporation Tax or Capital Gains Tax purposes. Gains and losses incurred on Bitcoin or other cryptocurrencies are chargeable or allowable for Capital Gains Tax if they accrue to an individual OR, for Corporation Tax on chargeable gains if they accrue to a company.


3. About the terms - what terms did you fulfiled? The one about updates every week? With video and/or pictures? Or the one about project completion on 15.7.2014 (See the roadmap attachment.)? If you are going to consider your news items as contractual terms, then what about the other terms you are violating??? See the roadmap attachment.

4. There has been UK Citizens Advice Bureau contacted and they clearly explain this about distance orders:
Your rights and obligations
When you enter into a contract with a trader by means of a distance communication (telephone, internet, mail order etc.) you will often have cancellation rights under what is known as the Distance Selling Regulations. These state you are entitled to a written notice confirming the details of your order and the fact you have cancellation rights. If you have been given the notice at the time you place the order, your cancellation rights run from the time of order until  7 working days starting from the day after  you receive the goods. If you have not been provided with this written information, your cancellation rights are extended for up to 3 months and 7 working days. The trader must provide this refund within thirty days.

So as is written in my first email, I did everything according to law and now you have 30 days starting from 21.07.2014 to do a full refund to me.

Kind regards
...............

Their answer was:
Hello there,

We are very sorry but as per our cancellation policy it has been longer
than 5 months since you placed your order therefore you are no longer
eligible for a refund.

Best Regards,

Alpha Technology Team