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Author Topic: Alpha Technology Litecoin (Scrypt) ASIC Miner Order Batch 1 Now!  (Read 527723 times)
scutzi128
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September 19, 2014, 05:24:43 PM
 #3581

This might have been their plan all along. Get everyone to preorder then when no one wants these turds any longer offer 30% refund. They keep 70% all along never planning to build an asic.
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phzi
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September 19, 2014, 05:25:18 PM
 #3582

This might have been their plan all along. Get everyone to preorder then when no one wants these turds any longer offer 30% refund. They keep 70% all along never planning to build an asic.
Yup... it sure smells like that at this point.

That refund e-mail definitely didn't go out to everyone.  Must be trying to stave off lawsuits, because they know they have already lost and will continue to do so in court.  I definitely threatened them with legal action, so it wouldn't be surprised if that's who the refund e-mails were specifically targeted at.

Know what really cracks me up tho?

Here is an e-mail from 2014-06-05, over 3 months ago:
Hello there,

Your unit has been downgraded and your previous balance taken into
account so your order is now fully paid. We now owe you £250.01.
Please provide your bank details so we can transfer the remainder back
to you.

Regards

Alpha-T

I definitely never received that wire transfer for £250.01, and they ignored all my follow-ups.

So, I wouldn't count on getting even a 30% refund at this point if you respond to that e-mail.

My bet - by accepting the 30% they figure it gives them standing under the law to refund nothing, because you were going to take 30% as a 'gesture of goodwill'.  So, by accepting the refund, you're tactfully agreeing that they have no liability for the deposits.
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September 19, 2014, 06:00:18 PM
 #3583

I see no official news or email blasts about it. If they did actually do that, it would mean they're going the way of BFL. Always arrears in their cashflow, leaving the final batch stuck holding the anchors.

May also mean they have a product sometime. Soon. This is fact.

lol

retro72
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September 19, 2014, 06:26:31 PM
 #3584

This might have been their plan all along. Get everyone to preorder then when no one wants these turds any longer offer 30% refund. They keep 70% all along never planning to build an asic.

Funnily enough this is what I wrote back in January. Before I did more digging into the DSR

Quote from:  retro72 on: January 07, 2014, 10:54:06 PM
Quote from:  Its About Sharing on January 07, 2014, 07:48:08 PM
It is nice that we only had to put down 30% or so. That shows some trust, at least to us that paid with CC's with some protection.
Actually the 30% down may work against you, as they don't have to refund any of the deposit if you change your mind. If you had paid in full you would be entitled to a full refund up until the day of shipment.

They have agreed to partial refunds which on paper looks good.
 
But.........If I was an evil genius, that's exactly what I would do. Then wait six months spread a load of FUD so everyone cancels. I'd only have to pay 50% back minus £70 fee. So even if I only sold 1000 5MH/s units, I'd pocket a cool quarter million, totally legally, then fold the company due to lack of resources.

Just a thought


Sound familiar?
vesperwillow
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September 19, 2014, 06:35:09 PM
 #3585

Funnily enough this is what I wrote back in January. Before I did more digging into the DSR

Quote from:  retro72 on: January 07, 2014, 10:54:06 PM
Quote from:  Its About Sharing on January 07, 2014, 07:48:08 PM
It is nice that we only had to put down 30% or so. That shows some trust, at least to us that paid with CC's with some protection.
Actually the 30% down may work against you, as they don't have to refund any of the deposit if you change your mind. If you had paid in full you would be entitled to a full refund up until the day of shipment.

They have agreed to partial refunds which on paper looks good.
 
But.........If I was an evil genius, that's exactly what I would do. Then wait six months spread a load of FUD so everyone cancels. I'd only have to pay 50% back minus £70 fee. So even if I only sold 1000 5MH/s units, I'd pocket a cool quarter million, totally legally, then fold the company due to lack of resources.

Just a thought


Sound familiar?

And Bob's your Uncle.

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September 19, 2014, 06:36:33 PM
 #3586

Quote from:  retro72 on: January 07, 2014, 10:54:06 PM
Quote from:  Its About Sharing on January 07, 2014, 07:48:08 PM
It is nice that we only had to put down 30% or so. That shows some trust, at least to us that paid with CC's with some protection.
Actually the 30% down may work against you, as they don't have to refund any of the deposit if you change your mind. If you had paid in full you would be entitled to a full refund up until the day of shipment.

They have agreed to partial refunds which on paper looks good.
 
But.........If I was an evil genius, that's exactly what I would do. Then wait six months spread a load of FUD so everyone cancels. I'd only have to pay 50% back minus £70 fee. So even if I only sold 1000 5MH/s units, I'd pocket a cool quarter million, totally legally, then fold the company due to lack of resources.

Just a thought


Sound familiar?
Heh... nail on the head indeed.

Every day that passes, the entire project seems more like a scam run by accountants.  Maybe they are offering refunds to select people that they know will take them, because they want to drain their remaining accounts before declaring bankrupsy, lol.

I see no official news or email blasts about it. If they did actually do that, it would mean they're going the way of BFL. Always arrears in their cashflow, leaving the final batch stuck holding the anchors.

May also mean they have a product sometime. Soon. This is fact.

lol
Lol... I doubt it.  We would have seen something other then their awful case prototype by now, if shipping was going to happen "Soon".  But then again, it probably will happen "soon" if you use Alpha-T's apparent definition of soon lol.
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September 19, 2014, 06:49:44 PM
 #3587

The guy who originally posted the email is a known Alpha sock puppet (Hassher)

Well, Hassher does rhyme with Mubasher ...
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September 19, 2014, 06:52:18 PM
 #3588

May also mean they have a product sometime. Soon. This is fact.

Rest Assured
Slipknot79
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September 19, 2014, 06:57:42 PM
 #3589

Has anyone actually received that email from alpha? Or is it a fake e-mail? Because on the forums a bunch of purchasers have not received the Refund e-mail.


Yea, i also received dat email, aint fake. I have requested full refund back in July and after this i have filed my claim.
I am not interested in partial refund, i only accept 100% refund.

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September 19, 2014, 07:46:27 PM
 #3590

At least 70% of the offered return .... but it does not 30% ... it's just fucking !!! Mumbasher thinks he's smart and all fools.
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September 19, 2014, 09:02:32 PM
Last edit: September 19, 2014, 09:29:45 PM by Bandit72
 #3591

I got this E-Mail too. I think only customers who paid 100% got one. Because if you only paid the 30% they are not giving back a penny. My lawyer sent them a Mail.
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September 19, 2014, 09:55:08 PM
 #3592

who knows the real location of this mumbashera? may be worth to pay a visit. I'm sick of everything
benjamin07
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September 19, 2014, 10:18:46 PM
 #3593

Alpha-T are now taking pre-orders for Batch 2!

where did you see this?


I found nothing regarding Batch 2 orders.
Although it wouldn't surprise me is they try it to help slow the bleeding from imaginary batch 1.

It was a joke Smiley
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September 19, 2014, 11:30:28 PM
Last edit: September 20, 2014, 12:04:53 AM by s1gs3gv
 #3594

Given what we all now know, which are the most likely statements about Alpha-T ?

1) They started out with good intentions but they were incompetent
2) They started out with good intentions but hired an incompetent VP of ASIC Development
3) They started out with good intentions but their VP of ASIC development chose an incompetent design/mfg partner
4) They started out with good intentions but were exploited by a trusted advisor or supplier
5) They started out with good intentions but became a scam after tape-out problems
6) They started out as a scam but went through the motions to build a product
7) They never intended to build a miner.
9) They are honorable men who failed to accomplish their goals
10) They are honorable men but will not deliver anything
11) They are honorable men who will deliver as promised

What are the chances that Alpha-T deliver a working 250 Mh/s Viper in the next 8 working days ?

1) 0%
2) 30%
3) 50%
4) 70%
5) 99%

What are the chances that any Alpha-T customers who paid 100% receives more than 15 cents on the dollar in settlement ?

1) 0%
2) 30%
3) 50%
4) 70%
5) 99%

What are the chances that any Alpha-T customer ever pre-orders a miner from another company in the future ?

1) 0%
2) 30%
3) 50%
4) 70%
5) 99%

ilostmyface
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September 20, 2014, 12:33:24 AM
 #3595

I didn't receive a letter for a refund. It appears this is because I only paid the deposit VIA Paypal. I was under the assumption I didn't need to pay in full until the credit card option was operational, which was only for a day or two before it was taken down. Probably because the credit card processor had red flags this was a scam. I guess I am screwed on my deposit money...

My question is should I pursue any recourse through paypal ( if possible ) this late of a stage in the game?
SimonBeCoinin
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September 20, 2014, 12:43:54 AM
 #3596

I didn't receive a letter for a refund. It appears this is because I only paid the deposit VIA Paypal. I was under the assumption I didn't need to pay in full until the credit card option was operational, which was only for a day or two before it was taken down. Probably because the credit card processor had red flags this was a scam. I guess I am screwed on my deposit money...

My question is should I pursue any recourse through paypal ( if possible ) this late of a stage in the game?


how did you pay through paypal?

Credit card, bank transfer?

If it's credit card go to the credit card company 1st.

phzi
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September 20, 2014, 12:52:17 AM
 #3597

Given what we all now know, which are the most likely statements about Alpha-T ?

I'd say these options are the most likely, IMO:

5) They started out with good intentions but became a scam after tape-out problems

What are the chances that Alpha-T deliver a working 250 Mh/s Viper in the next 8 working days ?

1) 0% - lol, ya right...

What are the chances that any Alpha-T customers who paid 100% receives more than 15 cents on the dollar in settlement ?

1) 30% - settlement?  If it gets that far, I doubt there will be any money left at all... But, you never know, so I'll say 30%.

What are the chances that any Alpha-T customer ever pre-orders a miner from another company in the future ?

5) 99% - people be crazy, man...  and frankly, anyone investing in alpha should have known it was a large risk with potentially huge rewards.  Absolutely some people will pre-order again.
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September 20, 2014, 02:03:40 AM
 #3598

^^ wot he said.

It seems Alpha are now trying to offer customers who paid in full a 30% refund. They have been trying to do this for months, and have been told to piss off,  what makes them think it will work now?

I think we can expect some bad news from Alpha in the next few days. Another failed tapeout perhaps? They clearly haven't got the parts to ship in September, otherwise they would have posted photos of hundreds of cases, PCBs, PSUs etc, ready to have the chips dropped in. You would expect them to have all this in place if they truly thought September shipping was remotely possible.

Its obvious they are now in full scam mode, whether that was their intention from the beginning is probably irrelevant at this point. They clearly have no intention of producing an asic and are just scheming to try and exit this fiasco with as much money as possible and avoid prison. Although if forum member "Mick" is true to his word they may have some burly Albanians on their tail.
Quote
Mick
Customer
Re: Developmental Update 9/2/2014
« Reply #71 on: September 18, 2014, 01:29:13 PM »

 I had a a few Friends  in Manchester go to the Alpha office  The place has been abandoned for months (phone disconnected, mail piled up in the doorway). The general consensus from the the local people and businesses is that Alpha are a bunch of crooks and their customers have been scammed.

Mubasher Akram ... if I do not have my order to 2 October
or my money is completely with me again.
  then some of my Albanian friends are in England begin to seek you.

consider yourself lucky if you
  the police found earlier.

Nuff said
SimonBeCoinin
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September 20, 2014, 02:33:22 AM
 #3599

^^ wot he said.

It seems Alpha are now trying to offer customers who paid in full a 30% refund. They have been trying to do this for months, and have been told to piss off,  what makes them think it will work now?

I think we can expect some bad news from Alpha in the next few days. Another failed tapeout perhaps? They clearly haven't got the parts to ship in September, otherwise they would have posted photos of hundreds of cases, PCBs, PSUs etc, ready to have the chips dropped in. You would expect them to have all this in place if they truly thought September shipping was remotely possible.

Its obvious they are now in full scam mode, whether that was their intention from the beginning is probably irrelevant at this point. They clearly have no intention of producing an asic and are just scheming to try and exit this fiasco with as much money as possible and avoid prison. Although if forum member "Mick" is true to his word they may have some burly Albanians on their tail.
Quote
Mick
Customer
Re: Developmental Update 9/2/2014
« Reply #71 on: September 18, 2014, 01:29:13 PM »

 I had a a few Friends  in Manchester go to the Alpha office  The place has been abandoned for months (phone disconnected, mail piled up in the doorway). The general consensus from the the local people and businesses is that Alpha are a bunch of crooks and their customers have been scammed.

Mubasher Akram ... if I do not have my order to 2 October
or my money is completely with me again.
  then some of my Albanian friends are in England begin to seek you.

consider yourself lucky if you
  the police found earlier.

Nuff said



yep.  the whole thing is feckin' bizzare.  some wacky e-mail saying just respond and we'll send you something.  no clarification on what, no clarification on when, no clarification on what acceptance of that 'refund' means.

have they even ordered anything?  even if there was a fookup with the tapeout, again, there should be piles of other shit laying around by now.  even the most unmotivated photographer on earth should be able to find something to point a camera at by this point in the supposed development timeline.

is there anyone working there but one deranged wack-job?  Is he even working there anymore?  strange days indeed.



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September 20, 2014, 04:25:43 AM
 #3600

Alpha-T are trying to hedge their bets. It's more profitable for them to run the mining hardware until it's worthless. I think a lot of people are overlooking this possibility. After all if they actually had the hardware and were trying to ROI with it before selling it to you would they want any evidence that their product exists? They may have a mining farm running somewhere? They keep sending us drawings and we go along with the wait. Now they are keeping 70% of the money from paid in full customers who don't want a worthless product. It's a win win for them. They claim incompetence and make profit from every angle. Don't think they are done, Alpha-T is done in name, but they will reemerge as some other name. They might be behind some of the other competitors? Probably promised to sell them chips if they bought in bulk? Who knows, but it's clear they are not honest or trustworthy.


Who wants to start a pool on whether Alpha-T ships as promised? Put me in for $10 that they won't ship on time.

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