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Author Topic: Putting TerraHash Debacle To Rest, Finally.  (Read 15680 times)
terrahash
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January 28, 2014, 10:49:05 PM
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Most of you know and believe that TerraHash started as an honest attempt to serve the Bitcoin community. Those who followed us closely know that we were not only the first ones to successfully assemble a K16, but also to make it hash (albeit at about 80% efficiency). The company got derailed due to circumstances totally out of its hands. In an attempt to further convince you about our efforts, we will be releasing a package in the coming few days. It will contain a detailed report on expenses incurred on development & components. It will also have all the invoices/receipts for all these expenses.

We wish to close this chapter for good and leave it behind us. Next week, we will be contacting everyone who placed an order with us and never got a refund. We will refund everyone as much as possible.

Those who have initiated legal proceedings against us in Civil courts will be contacted through our attorney.

With all the evidence of the amount of effort we put into this project, we are very confident that we can prove in front of any judge/jury that our operation was never meant to be a scam. We reserve the right to prosecute any persons slandering our company or its Founders/Directors/Employees.
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GZCH
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January 28, 2014, 11:34:16 PM
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I don't give a s**t about your statements as got my refund through 2 months of fihghting withpaypal/CC issuer
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January 28, 2014, 11:44:45 PM
 #3

Sounds like you had a tough go of it.. It's good to put everything on the table but scam or not I assume all of the buyers are legally entitled to a refund for goods not delivered, unless of course they explicitly waived that right and even then it's tough..

Proving in court you aren't a scam doesn't change your customer's rights, perhaps it will alleviate the possibility of additional punitive damages above and beyond the investment by your customers but it doesn't change your core responsibility, scam or not.

I say that because your tone implies you are going to put all of your expenses on the table and refund people as much as you can, not fully, and that is acceptable.

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January 29, 2014, 12:35:07 AM
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Many look forward to putting you to (ar)rest in a nice cell.

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January 29, 2014, 12:39:15 AM
 #5

Orignal thread here:

https://bitcointalk.org/index.php?topic=198489.0

Oh, and Gill, who is Matt at Terrahash? Interested to know the employees names that you had working there, even if just the first name.

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LostDutchman
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January 29, 2014, 01:41:39 AM
 #6

Most of you know and believe that TerraHash started as an honest attempt to serve the Bitcoin community. Those who followed us closely know that we were not only the first ones to successfully assemble a K16, but also to make it hash (albeit at about 80% efficiency). The company got derailed due to circumstances totally out of its hands. In an attempt to further convince you about our efforts, we will be releasing a package in the coming few days. It will contain a detailed report on expenses incurred on development & components. It will also have all the invoices/receipts for all these expenses.

We wish to close this chapter for good and leave it behind us. Next week, we will be contacting everyone who placed an order with us and never got a refund. We will refund everyone as much as possible.

Those who have initiated legal proceedings against us in Civil courts will be contacted through our attorney.

With all the evidence of the amount of effort we put into this project, we are very confident that we can prove in front of any judge/jury that our operation was never meant to be a scam. We reserve the right to prosecute any persons slandering our company or its Founders/Directors/Employees.

Terrahash, this is called a "STALL"!

Now lemmee 'splain the way things are now.

You had  friend.

You no longer have a friend.

You can close and move YOUR thread but you cannot close and move mine!

https://bitcointalk.org/index.php?topic=437471.0;topicseen

ADMIN of Mods can but I don't think they will.

Closing the "Official Terrahash" thread is one of the most chikenshit actions I have observed on a forum in many years.

Now here is the way that it is.

My son says that at 62 I am old am broken down.

To borrow yet another line from a movie; "There is one thing that you can say about a broken down old man.  He is a survivor!"

Another movie quote says that someone like that may be the last guy in the World that you want to fuck with.

I been down roads like this before and even though I have no legal standing in any actions against you, I encourage all who may have such standing to file whatever they can against you.

You got money to pay lawyers but no money to refund?

You will send a "package"?

How about you send MONEY?

Now I'm going to ask you a couple of questions and I may or may not already know the answers but let's see what you have to say, mkay?

Have you or have you not refunded Cloudhashing the USD $80K they claim to have sent you?

If you have not made such a refund, do you intend to do so?

Oh.

By the way, learn the difference between the terms "slander" and "libel", mkay?

The very fact that you tell eveyone that you are going to "prosecute" for slander tells me that you haven't have a single cup of coffee with an attorney.

However, since you seem to want to "prosecute" someone for "slander", let's start with you "prosecuting" ME!

You are robbers and thieves, you are crooks, you could not find your feet if you looked down, you could not run a candy store that only had vending machines and I am surprised that you have enough brain power to remember to breathe.

"Prosecute" THAT!

My $.02.




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chanberg
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January 29, 2014, 02:00:29 AM
 #7

I guess shit hit the fan ( the law caught up with them ) and now they are forced to do some sort of refund to the scammed parties... Guarantee they would have kept the funds if not pressured by the community
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January 29, 2014, 02:57:33 AM
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I guess shit hit the fan ( the law caught up with them ) and now they are forced to do some sort of refund to the scammed parties... Guarantee they would have kept the funds if not pressured by the community

My guess is they hired an attorney on the customer's dime to handle this PayPal 800lb gorilla.. and the attorney is like...

"ur fuct but I can help you be less fuct for $285 per hour"

If Terrahash just refunded people when they said they would have, this could have all been avoided.

My guess is that 15-30k in legal fees later.. the attorney put together this packet and will be making a best effort to give back what isn't rightfully his.

Either that, or it's another stall... but why come back, close the thread, and post a new one???

southerngentuk
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January 29, 2014, 03:09:36 AM
 #9

Have you sold that SMT Machine yet ?

Lies from start to finish..

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January 29, 2014, 03:16:21 AM
 #10

Partial reason for the failure of this project was a JUMPING early on production of pcb's when you and everyone else was clearly WARNED by BKKcoins not to produce anything until he had a working design. Some of your losses were definitely self-inflicted. Hopefully you can add clarity to the accounting in that respect as your investors are well aware of that fact.

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January 29, 2014, 04:45:16 AM
 #11

I guess shit hit the fan ( the law caught up with them ) and now they are forced to do some sort of refund to the scammed parties... Guarantee they would have kept the funds if not pressured by the community

My guess is they hired an attorney on the customer's dime to handle this PayPal 800lb gorilla.. and the attorney is like...

"ur fuct but I can help you be less fuct for $285 per hour"

If Terrahash just refunded people when they said they would have, this could have all been avoided.

My guess is that 15-30k in legal fees later.. the attorney put together this packet and will be making a best effort to give back what isn't rightfully his.

Either that, or it's another stall... but why come back, close the thread, and post a new one???



It's a stall; pure and simple.

Look for the bankruptcy filing to soon follow.

My $.02.

Sad

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LostDutchman
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January 29, 2014, 05:54:26 AM
 #12

Most of you know and believe that TerraHash started as an honest attempt to serve the Bitcoin community. Those who followed us closely know that we were not only the first ones to successfully assemble a K16, but also to make it hash (albeit at about 80% efficiency). The company got derailed due to circumstances totally out of its hands. In an attempt to further convince you about our efforts, we will be releasing a package in the coming few days. It will contain a detailed report on expenses incurred on development & components. It will also have all the invoices/receipts for all these expenses.

We wish to close this chapter for good and leave it behind us. Next week, we will be contacting everyone who placed an order with us and never got a refund. We will refund everyone as much as possible.

Those who have initiated legal proceedings against us in Civil courts will be contacted through our attorney.

With all the evidence of the amount of effort we put into this project, we are very confident that we can prove in front of any judge/jury that our operation was never meant to be a scam. We reserve the right to prosecute any persons slandering our company or its Founders/Directors/Employees.

" We reserve the right to prosecute any persons slandering our company or its Founders/Directors/Employees."

Get started!

Send me in PM your service address and I will have my attorney contact yours.

This of course after you figure out the difference between libel and slander.

"With all the evidence of the amount of effort we put into this project, we are very confident that we can prove in front of any judge/jury that our operation was never meant to be a scam."

I hope you have to do just that..................more than once.  You will of course be paying Legalman with monies that you should be using to refund those who you out-and-out scammed...................

".... our operation was never meant to be a scam........"

Sure turned into one though, didn't it?

Don't like what I'm writing?

So sue me!

I dare you!

Terrahash, you give me gas!

Oh!

By the way, did you refund Cloudhashing and if not are you going to refund Cloudhashing?

If you have the cojones to answer that one, it'd better be good!

My $.02.

Sad




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January 29, 2014, 06:26:12 AM
 #13

Most of you know and believe that TerraHash started as an honest attempt to serve the Bitcoin community. Those who followed us closely know that we were not only the first ones to successfully assemble a K16, but also to make it hash (albeit at about 80% efficiency). The company got derailed due to circumstances totally out of its hands. In an attempt to further convince you about our efforts, we will be releasing a package in the coming few days. It will contain a detailed report on expenses incurred on development & components. It will also have all the invoices/receipts for all these expenses.

We wish to close this chapter for good and leave it behind us. Next week, we will be contacting everyone who placed an order with us and never got a refund. We will refund everyone as much as possible.

Those who have initiated legal proceedings against us in Civil courts will be contacted through our attorney.

With all the evidence of the amount of effort we put into this project, we are very confident that we can prove in front of any judge/jury that our operation was never meant to be a scam. We reserve the right to prosecute any persons slandering our company or its Founders/Directors/Employees.

How much money have you made in salary since you claimed you were closing shop?  Also where is all the purchased gear that you claim, was it sold or are you keeping it?

This thread sounds like a threat if you say it was a "scam" they want to sue you.  Was there ever a video of 80 percent efficiency?  Also will your expenses include the orders of chips you were able to get out of because of magic clause?  Will you include salary, building costs, etc in expenses or just raw components?  Also on these components will you be showing pictures, I could be wrong but I dont think we ever saw a picture of near all the components.   
   

***I am in no way a lawyer or want to be one.  Anything above is purely thoughts.  Take all thoughts i say as being wrong, there is no malice or slander meant in any statement.  Please take all statements as a grain of salt worth nothing.
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January 29, 2014, 06:34:34 AM
 #14

Most of you know and believe that TerraHash started as an honest attempt to serve the Bitcoin community. Those who followed us closely know that we were not only the first ones to successfully assemble a K16, but also to make it hash (albeit at about 80% efficiency). The company got derailed due to circumstances totally out of its hands. In an attempt to further convince you about our efforts, we will be releasing a package in the coming few days. It will contain a detailed report on expenses incurred on development & components. It will also have all the invoices/receipts for all these expenses.

We wish to close this chapter for good and leave it behind us. Next week, we will be contacting everyone who placed an order with us and never got a refund. We will refund everyone as much as possible.

Those who have initiated legal proceedings against us in Civil courts will be contacted through our attorney.

With all the evidence of the amount of effort we put into this project, we are very confident that we can prove in front of any judge/jury that our operation was never meant to be a scam. We reserve the right to prosecute any persons slandering our company or its Founders/Directors/Employees.

How much money have you made in salary since you claimed you were closing shop?  Also where is all the purchased gear that you claim, was it sold or are you keeping it?

This thread sounds like a threat if you say it was a "scam" they want to sue you.  Was there ever a video of 80 percent efficiency?  Also will your expenses include the orders of chips you were able to get out of because of magic clause?  Will you include salary, building costs, etc in expenses or just raw components?  Also on these components will you be showing pictures, I could be wrong but I dont think we ever saw a picture of near all the components.   
   

***I am in no way a lawyer or want to be one.  Anything above is purely thoughts.  Take all thoughts i say as being wrong, there is no malice or slander meant in any statement.  Please take all statements as a grain of salt worth nothing.

Ohmigawd!

Yet another "slander" person!

Now wonder the World is in the shape it is!

My $.02.

Wink

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southerngentuk
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January 29, 2014, 07:27:15 AM
 #15

Most of you know and believe that TerraHash started as an honest attempt to serve the Bitcoin community. Those who followed us closely know that we were not only the first ones to successfully assemble a K16, but also to make it hash (albeit at about 80% efficiency). The company got derailed due to circumstances totally out of its hands. In an attempt to further convince you about our efforts, we will be releasing a package in the coming few days. It will contain a detailed report on expenses incurred on development & components. It will also have all the invoices/receipts for all these expenses.

We wish to close this chapter for good and leave it behind us. Next week, we will be contacting everyone who placed an order with us and never got a refund. We will refund everyone as much as possible.

Those who have initiated legal proceedings against us in Civil courts will be contacted through our attorney.

With all the evidence of the amount of effort we put into this project, we are very confident that we can prove in front of any judge/jury that our operation was never meant to be a scam. We reserve the right to prosecute any persons slandering our company or its Founders/Directors/Employees.

Who's money you gonna use for that then ??

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January 29, 2014, 07:45:17 AM
 #16

Partial reason for the failure of this project was a JUMPING early on production of pcb's when you and everyone else was clearly WARNED by BKKcoins not to produce anything until he had a working design. Some of your losses were definitely self-inflicted. Hopefully you can add clarity to the accounting in that respect as your investors are well aware of that fact.

man how dense do you have to be, they never bought or invested in anything nor had any intent to actually produce, it's a scam from day 1.  Go look at the photos they posted, a box of transistors, handful of metal cases, and a few single pcb boards. There is no loss, it's all bullshit.

it wouldn't mattered if avalon(another lowlife scam) delivered on time or not, they were not prepared to build anything, people actually sent them avalon chips and got nothing back.

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southerngentuk
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January 29, 2014, 09:36:08 AM
 #17



No-one had to get a refund from avalon. Avalon did deliver, in the end. And the k16 does work.

There is no reason that they could not have received chips and delivered, if enough chips where ordered in the first place.

They may have intended to build these to start with but when that nice big refund from Avalon came in they took it and ran.




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January 29, 2014, 09:57:00 AM
 #18

Partial reason for the failure of this project was a JUMPING early on production of pcb's when you and everyone else was clearly WARNED by BKKcoins not to produce anything until he had a working design. Some of your losses were definitely self-inflicted. Hopefully you can add clarity to the accounting in that respect as your investors are well aware of that fact.

man how dense do you have to be, they never bought or invested in anything nor had any intent to actually produce, it's a scam from day 1.  Go look at the photos they posted, a box of transistors, handful of metal cases, and a few single pcb boards. There is no loss, it's all bullshit.

it wouldn't mattered if avalon(another lowlife scam) delivered on time or not, they were not prepared to build anything, people actually sent them avalon chips and got nothing back.

My comments are directed at Terrahash comments about the 'costs" he incurred and not to add any validity to whether or not he had the intention of production. You might want to talk to those who went to their site and reviewed the work he was doing for that.

They showed the boards they had fabricated very early on and that initial run with all the errors in it. Nothing DENSE in what I am saying. I'm pointing out that if he is trying to make it a case of we tried really hard but failed those suing him can point directly to the fact he was "paying" for boards that should NEVER HAVE BEEN MADE and WAS CLEARLY WARNED NOT TO DO IT. Why would he do that?

Why he did that could be evidence for proving it was a scam and he was trying to mislead people into thinking he was going ahead with the project. I am on your side in fact as soon as he jumped on the project I was worried he was going screw BKKCoins out of royalties and not share work product. For the most part that is what happened.

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January 29, 2014, 10:25:51 AM
 #19

Just give me back my money, OMG   Angry

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January 29, 2014, 02:34:14 PM
 #20

Without being too deeply involved with this, nor having collateral on either side - this happens. Companies go bust, products go bad, shit happens. Just because we're in the gold mining industry doesn't make us immune to failure.

If it turns out that they did anything illegal then that is a different matter, but AFAIK they've done what any one of us in that situation would have. They tried to deliver, they failed, now they're going to reciprocate as best they can.

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