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

[s1gs3gv]

This is gaining momentum to be one of the biggest crapfests yet.

Its quickly moving well beyond incompetence to culpability.

[LTCagt]

This is gaining momentum to be one of the biggest crapfests yet.

Its quickly moving well beyond incompetence to culpability.

BUT they hadnt react if all their customers where sheeps - so this is rather a good sign while cryptocommunity is working - thanks

[Nullu]

Alpha Technology know their image is in tatters.

This isn't turning a new leaf. This is damage control. With legal action from customers looming over them, they're battening down the hatches.

So much for transparency. What a load of bullshit.

[uozer]

https://forum.alpha-t.net/index.php?topic=870.0

translation: "sorry all, we just realized we cant keep up the charade any longer if we ban everyone from the forum and the portion of people thats naive enough to pay the remainder is getting lower, so we will just make it look like we are making another groundbreaking announcement to keep people on the hook"

this is not ethical - this is the sentence that got me banned - Fiaz, why dont you ban me from this forum as well?

just fucking refund the deposit already

[uozer]

https://forum.alpha-t.net/index.php?topic=870.0

translation: "sorry all, we just realized we cant keep up the charade any longer if we ban everyone from the forum and the portion of people thats naive enough to pay the remainder is getting lower, so we will just make it look like we are making another groundbreaking announcement to keep people on the hook"

this is not ethical - this is the sentence that got me banned - Fiaz, why dont you ban me from this forum as well?

just fucking refund the deposit already

on second thought i also said zoomhash gives the same hashrate for cheaper and delivers now, maybe thats what got me banned

people, the rational approach here is asking for a refund on deposit, not make the rest of the payment and buy a miner from another supplier if you are still intersted, dont put up with this "another update" bullshit

[s1gs3gv]

What a load of bullshit.

[LTCagt]

Alpha Technology know their image is in tatters.

This isn't turning a new leaf. This is damage control. With legal action from customers looming over them, they're battening down the hatches.

So much for transparency. What a load of bullshit.

absolutely damage control - the question is for going on or for worse

[retro72]

You were right  s1gs3gv. The big announcement is shares in the company.

http://www.coindesk.com/alpha-technology-blames-paypal-dispute-bitcoin-asic-delivery-delay/

“Any future mining operations and any future batches we do, our customers will gain a share of the profits via dividend distributions,” said Akram, promising further details of the deal “soon”.

Smells pretty desperate if you ask me. Who the hell is going to buy Alpha's overpriced junk in September. They will have to massively increase hashrate and cut the price. A dividend share of £0= £0

[s1gs3gv]

You were right  s1gs3gv. The big announcement is shares in the company.

Yeah … it really smelled like it.

[Nullu]

You were right  s1gs3gv. The big announcement is shares in the company.

http://www.coindesk.com/alpha-technology-blames-paypal-dispute-bitcoin-asic-delivery-delay/

“Any future mining operations and any future batches we do, our customers will gain a share of the profits via dividend distributions,” said Akram, promising further details of the deal “soon”.

Smells pretty desperate if you ask me. Who the hell is going to buy Alpha's overpriced junk in September. They will have to massively increase hashrate and cut the price. A dividend share of £0= £0

They might not be lying about Paypal holding on to funds. That's what they do in disputes. They've also recently (last six months, I believe) enacted a reserve system, so they'll hold on to a % of all your Paypal funds, judged based on certain risk factors. Legal, credit score, disputes, and so on.

I do think they're scapegoating to the highest degree here, but there may be a tiny grain of truth in that Paypal are probably holding on to a decent chunk of the payments they've recieved via Paypal.

It's a bad excuse, though. I don't think the funds they can't access are that high compared to what they've obtained elsewhere, and the tapeout issues clearly demonstrate their lack of experience and inability to operate as an ASIC developer.

The reason I have doubt is that after 60 days (soon to be 90, if not already, although I don't think it's retroactive), you can no longer make a paypal claim. So if they do have money issues, it's with Paypal's reserve system. If you paid via card via Paypal, I believe you can still initiate a charge-back.

They're accountants. No surprise they'll blame accountancy for their problems.

[rustybeamer]

You were right  s1gs3gv. The big announcement is shares in the company.

http://www.coindesk.com/alpha-technology-blames-paypal-dispute-bitcoin-asic-delivery-delay/

“Any future mining operations and any future batches we do, our customers will gain a share of the profits via dividend distributions,” said Akram, promising further details of the deal “soon”.

Smells pretty desperate if you ask me. Who the hell is going to buy Alpha's overpriced junk in September. They will have to massively increase hashrate and cut the price. A dividend share of £0= £0

Was just about to post this also.

I find the previous quote even more surprising, blaming everything on PayPal

“The delay is purely down to PayPal,” he said, adding that the company has decided to offer its first-batch customers shares in Alpha Technology, in addition to their miner

[retro72]

They might not be lying about Paypal holding on to funds. That's what they do in disputes. They've also recently (last six months, I believe) enacted a reserve system, so they'll hold on to a % of all your Paypal funds, judged based on certain risk factors. Legal, credit score, disputes, and so on.

I do think they're scapegoating to the highest degree here, but there may be a tiny grain of truth in that Paypal are probably hold on to a decent chunk of the payments they've recieved via Paypal.

That statement may be TRUE. Its the rest of the LIES I'm worried about. We're all supposed to believe their word is now gospel when they have lied from the start. The Coindesk article sums up this whole mess pretty well.

[s1gs3gv]

Well, let me guess the next move …

Carrot: Pay up or no dividends for you
Stick: We are going to keep your deposit

I think 'A bird in hand is worth two in the bush' especially if you can buy an equivalent product today that ships in 2 days for less than it costs to pay your Alpha-T order, which you 'might' receive in September.


This seems to be the season of FAIL for mining companies. Spondoolies SP30 surprise, Bitmain S3 shortcoming, KNC Neptune 1 PciE connector, Alpha-T (tape out problems). What ever happened to Fibonacci and Flower btw ?

[Nullu]

They might not be lying about Paypal holding on to funds. That's what they do in disputes. They've also recently (last six months, I believe) enacted a reserve system, so they'll hold on to a % of all your Paypal funds, judged based on certain risk factors. Legal, credit score, disputes, and so on.

I do think they're scapegoating to the highest degree here, but there may be a tiny grain of truth in that Paypal are probably hold on to a decent chunk of the payments they've recieved via Paypal.

That statement may be TRUE. Its the rest of the LIES I'm worried about. We're all supposed to believe their word is now gospel when they have lied from the start. The Coindesk article sums up this whole mess pretty well.

Oh, I wouldn't believe a word they say, now. Their shipping date promise is as hollow as every other promise. If they were committed to it, they'd put it in their T&Cs

It's kind of funny how shit hot they are on the legalities of refunds, yet shipping dates are as transient as mist. "Hope" is not a valid commitment. I'm not sure what holds them to September other than their word, and I think a lot of people don't think very highly of their word. Less talk, more action.

Lets just just assume, worst comes to worst, that they don't ship in September. Blah blah, setbacks., blah blah. What then? What's to stop history repeating? Words aren't enough.

[Phorna]

You were right  s1gs3gv. The big announcement is shares in the company.

http://www.coindesk.com/alpha-technology-blames-paypal-dispute-bitcoin-asic-delivery-delay/

“Any future mining operations and any future batches we do, our customers will gain a share of the profits via dividend distributions,” said Akram, promising further details of the deal “soon”.

Smells pretty desperate if you ask me. Who the hell is going to buy Alpha's overpriced junk in September. They will have to massively increase hashrate and cut the price. A dividend share of £0= £0

Yeah. Fiaz et Consortes Inc(ompetence) meet Dallas Byuers Club.  

Again some MLM salesman tricks. Enough of this fugazi mumbo jumbo style. Just show the current plan with dates & milestones and update on them every single week. Show the documents from foundry that you have started 2nd tapeout - that's what you should begin with to proof that you are not creating new construct on another lie. Without this no one should give you a broken penny. Did you start 2nd tapeout already Fiaz? Show us agreement with foundry when they have promised you the chips delivery.

[9600]

You were right  s1gs3gv. The big announcement is shares in the company.

http://www.coindesk.com/alpha-technology-blames-paypal-dispute-bitcoin-asic-delivery-delay/

“Any future mining operations and any future batches we do, our customers will gain a share of the profits via dividend distributions,” said Akram, promising further details of the deal “soon”.

Smells pretty desperate if you ask me. Who the hell is going to buy Alpha's overpriced junk in September. They will have to massively increase hashrate and cut the price. A dividend share of £0= £0

Yeah. Fiaz et Consortes Inc(ompetence) meet Dallas Byuers Club.  

Again some MLM salesman tricks. Enough of this fugazi mumbo jumbo style. Just show the current plan with dates & milestones and update on them every single week. Show the documents from foundry that you have started 2nd tapeout - that's what you should begin with to proof that you are not creating new construct on another lie. Without this no one should give you a broken penny. Did you start 2nd tapeout already Fiaz? Show us agreement with foundry when they have promised you the chips delivery.

To that end we never even saw any proof that the initial tape-out was ever done/ordered/commissioned.

[anderl]

You were right  s1gs3gv. The big announcement is shares in the company.

http://www.coindesk.com/alpha-technology-blames-paypal-dispute-bitcoin-asic-delivery-delay/

“Any future mining operations and any future batches we do, our customers will gain a share of the profits via dividend distributions,” said Akram, promising further details of the deal “soon”.

Smells pretty desperate if you ask me. Who the hell is going to buy Alpha's overpriced junk in September. They will have to massively increase hashrate and cut the price. A dividend share of £0= £0

Yeah. Fiaz et Consortes Inc(ompetence) meet Dallas Byuers Club.  

Again some MLM salesman tricks. Enough of this fugazi mumbo jumbo style. Just show the current plan with dates & milestones and update on them every single week. Show the documents from foundry that you have started 2nd tapeout - that's what you should begin with to proof that you are not creating new construct on another lie. Without this no one should give you a broken penny. Did you start 2nd tapeout already Fiaz? Show us agreement with foundry when they have promised you the chips delivery.

BWAAHAHAHHAAAAA!!!!! OMG!!!!

So THAT is the big announcement?!?!?!?  They purged their forum of all threads and locked a thread so customers can vote if they want a share of the company if they hold out till Sept and don't sue their asses off?  So its a swindle.  Alpha Technology asks the customers to agree to new terms and conditions and to provide business names on their accounts and in turn the customers give up any consumer protections.


So what are you getting for a share of the profits?
An ASIC company that failed to make tape-out
An ASIC company that is in break of its original terms and conditions.
An ASIC company that is having lawsuits started against it.
An ASIC company in violation of Distance Selling Regulations.
An ASIC company with  he majority of their assets frozen.
An ASIC company that cannot get a card processor to work with them.

This is getting worse than Hashfast.  At least Hashfast pretended that everything is okay all the way to the day they filed bankruptcy.  Alpha Tech is floundering and admits its floundering and won't survive and they need angels to come in and save them from extinction.  My guess is that Alpha is begging them to take the offer.  Probably passive aggressively alluding that they will tank the company and go int bankruptcy and no one will get anything and this is their only chance to get something.

I give Alpha 30 days before it shuts its doors.  O wait those steel curtains have been shut the whole time huh?

[anderl]

Our forum is not for order, payment, refund inquires, as such they are deleted and the OP directed to the appropriate place of payments@alpha-t.net

Customer Support Forums usually provide Customer Support.

Good luck with your legal, and "other" issues, you will be facing shortly.

Honestly, as long as you showed a detailed business plan ..

They showed one once many moons ago, it was that awesome hand-drawn graphic detailing from start to finish what they would do. And they never updated it, isn't that awesome?

You mean this business plan?  Yeah I remember.

[anderl]

And the Alpha-T forum has been wiped clean …

except for this new topic: "A new direction for alpha-t"
(reproduced in part under the provisions of the Fair Use act in the public interest)

A New Direction For Alpha Technology

« on: Today at 02:03:11 PM »
Greetings Everyone,

I will try to keep this as short as possible as the full announcement is coming later on. Like you all we are not satisfied with the delay. In light of recent events there is a lot of hostility where we are wasting time defending ourselves and vice-versa for you. This is not helpful to anybody and will ultimately cost us all as such we have the perfect solution where everybody wins. This announcement will be unprecedented in the cryptocurrency industry and will be a game changer for our customers. We have 2 roads here as a company where we can leave things as they are with unhappy customers ensuring there is no future for us outside of batch 1 or we can fully commit to our original commitment of transparency and an ethical open approach. In light of this news we have decided to un-ban everybody who was ever banned and apologize if you felt it was unjust, we can now put all of this negativity behind us and move forward together as it should be. Sorry if this post doesn't make much sense at the moment but it will do soon, I will also edit it and add more later today I just wanted to say something asap. The announcement should be today, if it isn't please don't freak out it will be soon, it will also be announce in news articles and it will be great news for you guys that everyone, alpha-t customer or not, will want to be a part of.

edit: Anyone who has been previously banned from this forum is now un banned. Can I also kindly ask everybody post here for the moment regarding this so we can discuss this together. Also just a reminder, this forum is not for payments questions, orders, refunds etc. such questions will be of course be deleted.
« Last Edit: Today at 03:00:56 PM by Fiaz Malik »

Later on in the thread Fiaz says he's asked the 'Doctor' to move all the old posts to new section called 'Old'
However, at the moment they're nowhere to be found. [ edit: Fiat says they have been moved to the archive. https://forum.alpha-t.net/index.php?board=40.0 Login required.

So … here one day … gone the next. Is that the plan for Alpha-T too ? Tune in again (soon) to the Alpha-T channel for more (not never) news.

Speculation …

a) winding down the company, starting a new one … giving customers shares in a new company and soliciting new funds ?

b) announcing new shareholder, new capital injection, increase the Viper to 500 mhs ?

Only time (soon) will tell.

It doesn't matter what they say now. After all that has happened how can you trust anything that they say? -M

I've seen this so many times in penny stocks.  They blow up existing shareholders of some shell company.  Start a new one and  buy out the old company offer the existing shareholders a fraction of what their original shares are worth all under the illusion that they "might" make more money if they give up money now.  As a shareholder that is underwater what have you got to lose at this point.

But instead of shareholders here its customers.  AT is basically trying to wipe out their existing customers and give them less now with the "hope" that they "might" make more money in the future.  The reality is always so much different in every case. 

[kebabman]

Anyone who paid with CC don't give up on getting a refund of your deposit via dispute, I just had mine confirmed by Discover today, dispute closed in my favor, so 100% refund to me, and I'm out. I wish everyone else the best of luck.