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

[Dr Charles]

I remember a while ago someone on here saying how they were persuing 2 separate claims. One against alpha the company, and another claim against the individual, Akram. Whoever it was, did they successfully win the judgement against Akram individually? I've heard of the cases of Alpha losing but not paying up, but not of any cases of Akram losing. It would seem to me to be more likely to get your money back if you have a judgement against the individual rather than the business as the business can just wind down and dissapear. The person cannot as easily dissapear, and if he comes back to Britain, may be more easily traceable by debt collectors.

The problem is that alpha is a limited company. That means that liability for any debt that the company has is limited to the company only. The directors, in person, are immune against any claim for money.

It is very, very difficult to make a claim against a director in person. You basically have to prove that they were stealing money from the company before the company disappeared.

difficult but not impossible.... called "piercing the corporate veil"

[coinits]

I remember a while ago someone on here saying how they were persuing 2 separate claims. One against alpha the company, and another claim against the individual, Akram. Whoever it was, did they successfully win the judgement against Akram individually? I've heard of the cases of Alpha losing but not paying up, but not of any cases of Akram losing. It would seem to me to be more likely to get your money back if you have a judgement against the individual rather than the business as the business can just wind down and dissapear. The person cannot as easily dissapear, and if he comes back to Britain, may be more easily traceable by debt collectors.

The problem is that alpha is a limited company. That means that liability for any debt that the company has is limited to the company only. The directors, in person, are immune against any claim for money.

It is very, very difficult to make a claim against a director in person. You basically have to prove that they were stealing money from the company before the company disappeared.

Not if they perpetrated fraud.

[alphacustomer2014]

I remember a while ago someone on here saying how they were persuing 2 separate claims. One against alpha the company, and another claim against the individual, Akram. Whoever it was, did they successfully win the judgement against Akram individually? I've heard of the cases of Alpha losing but not paying up, but not of any cases of Akram losing. It would seem to me to be more likely to get your money back if you have a judgement against the individual rather than the business as the business can just wind down and dissapear. The person cannot as easily dissapear, and if he comes back to Britain, may be more easily traceable by debt collectors.

I was thinking a month ago about taking Alpha to court but it seems pointless if they are not going to pay and are untraceable, a claim against the individual would seem to have higher chance of success, if they are individually liable? Also can you claim the court costs that you have to pay to start the case, back from the court when you win judgement?... or do you only get that back if/when Akram/Alpha pay up too? If it is the former, then there is much less to loose. But if not, I don't fancy wasting another £70 to go to court if i'm almost certainly going to lose that too along with the rest of the money! What do others think on this? And who was the person who said they were suing Akram directly? Anyone remember? Did they win? What was their username? Please let us know what happened if it was you and you're reading this! Thanks.

I am now processing to enter a judgment by specifying my claim is against both company and individual (director Akram). This is required by the court as Alpha is a limited company. In other words, one's claim against a limited company cannot be registered to request judgment in court. I don't know what the court will say in its judgment and when it will issue. Once I get the judgment, I will make it public in this forum. As I am not familiar with legal affairs, I will welcome suggestions and comments so that I will take further steps to get money back.

[fightalpha]

I remember a while ago someone on here saying how they were persuing 2 separate claims. One against alpha the company, and another claim against the individual, Akram. Whoever it was, did they successfully win the judgement against Akram individually? I've heard of the cases of Alpha losing but not paying up, but not of any cases of Akram losing. It would seem to me to be more likely to get your money back if you have a judgement against the individual rather than the business as the business can just wind down and dissapear. The person cannot as easily dissapear, and if he comes back to Britain, may be more easily traceable by debt collectors.

I was thinking a month ago about taking Alpha to court but it seems pointless if they are not going to pay and are untraceable, a claim against the individual would seem to have higher chance of success, if they are individually liable? Also can you claim the court costs that you have to pay to start the case, back from the court when you win judgement?... or do you only get that back if/when Akram/Alpha pay up too? If it is the former, then there is much less to loose. But if not, I don't fancy wasting another £70 to go to court if i'm almost certainly going to lose that too along with the rest of the money! What do others think on this? And who was the person who said they were suing Akram directly? Anyone remember? Did they win? What was their username? Please let us know what happened if it was you and you're reading this! Thanks.

I am now processing to enter a judgment by specifying my claim is against both company and individual (director Akram). This is required by the court as Alpha is a limited company. In other words, one's claim against a limited company cannot be registered to request judgment in court. I don't know what the court will say in its judgment and when it will issue. Once I get the judgment, I will make it public in this forum. As I am not familiar with legal affairs, I will welcome suggestions and comments so that I will take further steps to get money back.

Thank you. Please post this on http://fightalpha.net/ Others are here to help.

[Mick666]

can one of you, the entire Alpha Akram story
Please summarize and send it to the newspaper
my english is, unfortunately, not good enough
    http://www.manchestereveningnews.co.uk/send-your-story/

[Crypto2011]

I look forward to hearing what happens. But do you get the court fee back from the court if you win, or do you have to wait until alpha pay up (if ever) to get that too? I imagine anyone who got a judgement against alpha on here will know?

[jrose120]

Man oh man are they ever going to drop the next pile of bull shit on their 13 remaining customers? Crickets, that's all I hear. If they built rigs they are mining, excuse me, "testing" or "breaking in" the rigs for as long as possible. Their main problem was that they got the hardware late and now that they need to mine with it to fill their greedy pockets with as much money as possible. After all with their actual cost they may be able to get a 60-90 day ROI, they just need to hold off until they are able to pay for the rigs through their "testing" or in reality, mining, and then ship it them to the customer who bought them on a large mark up to begin with. Alpha gets paid several ways, the only way I see these weasels operating to be honest with you. So expect more delays before you get your dusty used worthless miners. I really wish these guys go to jail over this. They will probably dissolve the company, find a way to run off with the chips, and say FU to everyone who bought in to their BS to begin with.

[alexfgT]

Axaxaxaxaxa https://alpha-t.net/news/update-22122014/

They just Mein our asikmi. and pull the rubber ...
though that her pull 250Mhs Over $ 9000 .... funny .... for the same amount can now be bought 2500Mhs

[jrose120]

According to their own words a Viper board with 11 chips are currently running at a whopping 10.3Mh/s? They state that 15 boards containing 11 chips each will run at 250MH/s, but from what they're showing us if assembled right now it would only run at 165Mh/s.

I bet this development update is 2 months old. They just want you to think they don't have your miners.

[Test User]

I bet this development update is 2 months old. They just want you to think they don't have your miners.

I doubt it. I reckon this is brand new news.

Developing hardware and testing ASICs and tweaking firmware takes time, a lot of time. Most of the companies building miners have had their engineers pulling all-nighters and working through weekends to debug - mainly because the engineers are investors in the company. They're roughly on-track with what I expected given the date of delivery of the chips - maybe a bit slower, but when you outsource stuff, it tends to be slow.

There is no sign that they are mining. If they were, it would be obvious from network hashrate and difficulty.

From their update it sounds like they have literally just got this board working. One of the chips appears to be dead, and the others have malfunctioning cores. They talk about MBIST (memory built in self test) possibly, they have installed more than 128 kB of RAM on each core, so that they have some spare RAM on each core which can be swapped in, in case some of the RAM is faulty.  Once they have fully tested all the chips, they may be able to "rescue" most of the cores, by swapping the memory around. However, if they're demoing a board which hasn't been fully memory mapped, then it suggests that it is literally the first time it has ever successfully booted up.

The whole thing all seems to fit with a very carefully, very conservatively engineered system: ASICs designed with powerful built-in self repair functions, likely with no clever tricks, just good-old reliable techniques. The PCB design is reasonable and uses high-end components. The problem is all this careful design takes time and costs money.  

If you look back at the winning BTC mining designs - it is the radical designs, that one or 2 students knocked up as their first ever ASIC (this is the case with the Bitfury chip - it's a 1-man effort, their first ever ASIC - it's a crazy design, extreme risk, but they got lucky and it worked first time). Most of the other scrypt ASICs have been designed on the cheap - no clever redundancy and self-repair - just the basics, small die sizes and low cost manufacture - if the yield is low, you can just drop the chips in the trash. The alpha/KNC method of going for big ASICs at the bleeding edge, needs a lot more finesse, and a lot more design. KNC appear to have shipped some real turkeys. It will be interesting to see just how much longer alpha need, although the end does now appear in sight.

Edit - HAHA. Wow. I've just noticed the hand-soldered, sticky-tape'd down bodge chips on the PCB. Someone screwed up the PCB design. That's probably why it's taken 4 weeks to get the board to boot up, and explains why they've had to get a new PCB designed.

[cryptopaddles]

That thing is a raging fire just waiting to happen.  What a joke.

[hallo_frosch]

Running with CGMiner 3.1.1 ?
And: Blablabla  Next delay, it´s not our fault  blablabla
The only interesting thing is there new virtual office, hosted by Regus at the Manchester Business Park.
What a joke

[vesperwillow]

They've had chips since the end of September. It doesn't take this long to map memory and get things working unless there's been a lot, and I mean, a lot, of failure or it's been a low priority with the firm creating the system. This update just goes back to what has been said before, more changes and departures from what was originally orders as a design, and more issues with the process.

They can't claim to be the most efficient delivered system, which was a money-back guarantee of theirs--so was delivering before any of their Scrypt competition. 15 boards won't physically fit in the case they designed, unless premature component failure isn't a concern for them--the case was originally designed for fewer boards. Delays out of their control are still delays, and their shipment has been pushed into some vague 2015 timeframe. Again.

Their company name has apparently changed (again), at least they're providing a registered address this time. Also check out one of their other lies. In the update they say that from the start they were a virtual company with no physical presence for their staff. Outright lie, as in the beginning they stated their office and invited anyone to come visit them with questions or to see the progress of their work. They also state the only official means of contact is via their filtered email. In the beginning, the promised customer support through phone, email and forum.

While some of the components are definitely "over-engineered" (which I like), they can't keep saying they're not failing to meet deadlines or breaking promises. There's literally no part of their original word which hasn't been broken, and by the time these deliver (March?), few people are going to want to pay the customs fees, much less taxes, or even plug them in--and I'm sure they'll be happy to use them until such point as they can be resold, since most of them are already paid-for.

Guess we'll be waiting until next month to see the next part of this drama.

[atp1916]

"It has taken longer than expected for our design team/aggregators to complete its test solution."

Never seen or heard that in this type of business before.  Oh wait, that's nearly every single ASIC designer out there.

This statement is exactly the reason why pre-ordering from an unknown entity is so stupid in the face of ROI time constraints.  It's nothing but gambling and funding development, which is why i don't feel half-sorry for all the individuals who did put money toward these products and lost out.  I try not to blame the victim(s), but seriously, what can people expect these days given the general history / track record of ASIC manufacturers up to this point? 

[Slipknot79]

Nice, they are providing username and password of their mining pool account.

[alexfgT]

I think all this fekom how to think how many people will pay 70% after the new year. I think 0

[bumface]

still a clusterfuck i see

[jrose120]

Even if they shipped their POS miners what use are they? They can't get a return on investment. Heck, at best they may earn 5-10% back if you mined with them. Most people are looking at paying a VAT tax much higher than that. So, what use are they? What a shame, they could have kept us filled in at every failure along the road and we would have been more forgiving, patient, and loyal to them. We've all been there and understand shit happens. But, no, they chose to keep everyone in the dark and leave us all guessing and imaginations running rampant. At least if they'd clued us on in along the way we'd know what was happening and not accusing them of living it up on their new mega yacht, or running a massive Scrypt ASIC farm with everyone's paid hardware. Many ways to hide the hash rate. Just use a multi pool, which is what they were using by the way. 

[Cablez]

I wonder if they are paying Dexcel off that way to get them off their back.  Then they can deploy in impunity.  Hmmm

[smoothie]

Have these scammers delivered anything yet besides excuses on more delays?