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Author Topic: History on Bitcointalk - Mining equipment scams, shams and failed deliveries.  (Read 141 times)
xtraelv
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July 18, 2018, 10:16:34 AM
Merited by suchmoon (7), Flying Hellfish (1), vit05 (1), iasenko (1), DdmrDdmr (1)
 #1

There have been many asic mining scams over the year and many of them played out on bitcointalk. This forum has been both instrumental in scammers marketing these rip offs and exposing them.

There was a race to make the fastest miner. Production often was delayed and in many cases caused losses to those that had pre-ordered them.
In many cases the miners never arrived....

I personally nearly fell for the Yesminer scam but fortunately a google search for "Yesminer scam" - just before I would have placed my order - found a forum post that confirmed it was indeed too good to be true. So I bought Antminers instead. (Which also nearly didn't arrive - but that is another story)

Just some of the many ASICs that were scams or had questionable origins:
Code:
Achilles Labs
Alydian
ASICrigs
ASX Project
Axon Labs
Bitcoin Brothers
BitHashMiner
Boscombe Pierlytic
BTC Olympus
CedarTec
Cloud Think Mining Ltd
CoreMiner
Crypto Technology Systems
Cryoniks, Inc
DragonCo, Inc
EMIC (European Mining Innovation Center)
Extolabs Ltd
Frank Leejun
GalaxyASIC
German Bitcoin Mining
Global Mining Hardware Solutions
HashBlaster
HashCoins
HASHRA
labcoin (iTec Pro Limited)
labs novo
MinersLab Ltd
Payonix Technologies Pty Ltd
Phoenix Technologies
PeerNova
primeASIC
Skyward Sword (倚天剑)
Spartacus Miner
Smart Miner
VMC / AMC / ActM
Xilock Technology
Xtreme Miners
yesminers
ZTE-Asic



-BFL Butterly labs.


https://i.imgur.com/cPMTQKS.png


https://i.imgur.com/nE1OnFE.png
https://www.ftc.gov/system/files/documents/cases/140923utterflylabscmpt.pdf
The court documents describe it as:
Defendants operate Butterfly Labs, which sells Bitcoin mining machines and services that consumers purportedly can use to generate Bitcoins, a form of virtual currency worth hundreds of dollars per unit. Defendants have charged consumers between $149 and $29,899 upfront for the machines and services. In many instances, consumers who have purchased the machines or services cannot use them to generate Bitcoins because Defendants never provide them with the machines or services.


https://i.imgur.com/Wr4nNvZ.png


https://i.imgur.com/rb0mn8z.png

https://bitcointalk.org/index.php?topic=83985.0

Butterfly labs was accused of mining with their customers equipment before shipping it out....


https://i.imgur.com/EmJf45C.png

I'm thinking about the BFL customers who paid $4000 over a year ago to make $2 per day, when they receive their cards in maybe a month or two.

Haha man that's cruel.

-bASIC

Tom (Cablepair) took a lot of orders and when the  BTC priced spiked he started paying back  USD valued refunds

https://i.imgur.com/9kDmTEa.png
https://bitcointalk.org/index.php?topic=79637.msg1157524#msg1157524


-KNC
https://bitcointalk.org/index.php?topic=170332.msg5911153#msg5911153
https://bitcointalk.org/index.php?topic=640024.0;all KNC return our money !
https://bitcointalk.org/index.php?action=trust;u=94550
KNC wins class action https://bitcointalk.org/index.php?topic=1483331.0;all


https://i.imgur.com/rAzHTyQ.png


https://i.imgur.com/5cThHzF.png


https://i.imgur.com/6Lp6PZC.png


https://i.imgur.com/8OHePBy.png

-Terraminer

https://bitcointalk.org/index.php?topic=2217442.0
https://bitcointalk.org/index.php?topic=2690520.0

https://i.imgur.com/4KgNJY5.png


https://i.imgur.com/oWHrBV5.png

- Prime Asic
https://bitcointalk.org/index.php?topic=148832.0

https://i.imgur.com/1PqChmN.png


https://i.imgur.com/YYagcfm.png

Very short-lived donator profile (paid for with your BTC ?)

- Bitmine
https://bitcointalk.org/index.php?topic=1117069.0 Bitmine blamed innosilicon and this was their response.

Innosilicon official reponse to Bitmine lies - Let the evidence do the talking


On behalf of Innosilicon Inc, the proud real owner of A1 BTC ASIC and A2 LTC ASIC, I would like to make it clear that we are very shocked to learn that Bitmine shamelessly pointed their finger to us for their business failure due to a series of their own engineering mishaps and reckless business risk taking. Innosilicon has done nothing wrong here and we continue to deliver our quality product even till this date. We have full evidence (email exchanges, legal contract, shipping record, business plans, apology letters etc) that Bitmine management tried to use Innosilicon as scapegoat to mislead their customers for their failure to fulfill their customer orders. We would like to provide full evidence to assist those who filed lawsuit against Bitmine. Our contact info is listed below and let us suit Bitmine liars. The world deserves to know the truth.


1. A1 chip came out on time and working. Chips were fully delivered at normal 28nm foundry yield to Bitmine with Bitmine CEO email acknowledgement and appreciation. Full amount of ASIC were delivered and tested with clear grade marking and there is no excuse for Bitmine not to deliver their mining machines. It is Bitmine who failed to turn working A1 into good miners to customers. In fact, they received our 1st batch of over 50K A1 chips at cost in early January of 2014 yet failed to produce working miners till April, at that time, BTC market was very hot and miners were in huge demand yet they failed to capitalize. Even then, Bitmine A1 Miner system was reported still not stable which is the biggest reason why they missed market windows. In these two critical months they received another over big batch of low price chips ahead of anyone which were enough to fulfill their customer miner orders. The only reason of their failure to produce miners were their system PCB design and DCDC design flaws. This is due to their poor engineering issues, thus wasted a lot of money by making tons of failed circuit boards, not due to our A1 chip issue. They are the one who is responsible for the failure of customer delivery. In the meantime, another Chinese miner manufacturer Dragon Miner came in after them and started to deliver working miners in late Feb and quickly ramped up very high volume with A1 directly purchasing from us with much higher cost month after month. On the other hand, Bitmine sat with the piles of working A1 chips and could not produce working miners. Yet they shamelessly blamed on all their failure on Innosilicon!

2. Innosilicon never violated any agreement therefore Bitmine knew they could not even think of legal battle. The A1 project became joint investment in Oct 2013 when they could not fund the project by following the previous contract funding terms. So they asked Innosilicon to step in to fund half of the mask fee with a contract amendment where it stated that Innosilicon have the full rights to sell the chips in the open market and Bitmine does not have the exclusive rights of the ASIC. If you read the amendment, you will see that why they absolutely don't deserve the exclusive rights for A1 chip. They were not forced to enter the agreement amendment, they should thank us for the investment to save the whole project.


3. The reason why Bitmine had to apologize to Innosilicon with offical letter is that they themselves later violated the contract amendment by falsely declaring to the whole community that Bitmine own the exclusive rights of A1 and threaten lawsuit against anyone who buy A1 Chip from Innosilicon directly. Obviously this was totally false and the breach of our amendment and they had to apologize or facing lawsuit.


4. We have every evidence to show that Innosilicon developed and own 100% of the A1 ASIC intellectual property and our company is a world renown IP company with excellent ASIC design skills. Innosilicon not only independently developed 28nm A1 BTC ASIC, it also quickly developed A2 LTC ASIC. Both quickly became No. 1 in the market. Our business is all over the world and enjoy stellar reputation with zero complaint from anyone. Protecting IP rights is of paramount importance to our company and we never had any design IP from Bitmine. Bitmine was previously only 2 person company who had zero chip design experience. Can you believe that Bitmine could develop most advanced ASIC with their background? We stated in the contract that any design contribution from each company belongs to each company. Bitmine has zero actual ASIC design contribution in the chip. All they did was to provide us their system input and output files for us to simulate our design.


5. If you ask us, we have a lot to say why Bitmine failed  to keep their promise to us and to their customers. 1st, Bitmine used the pre-order money from customers to build/purchase their own mining farms (tried one in Swissland and one in Iceland) and conducted risky bitcoin trading, in both cases, they lost big money. A1 would have been a lot more successful if they did their job right. I'd to say that the real problem for Bitmine is their weak management on risk and poor technical execution in a market  that is full of competitors and time to market is of great importance. They had 2 months to prepare their miner design before our ASIC came out yet they did a terrible job in that after 4 months, their miner still don't work right and customers were all angry and  they used us as excuses.  I have many facts documented that how they failed so many times before producing a working miners. They made several big mistakes in rushing their production and wasted a lot of materials and chips and made us very very upset. We delivered chips marked with grades according to contract and they knew it. To this date, they still did not pay for some agreed chip shipment fees and we had to cover their unpaid shipment fees.


We are saddened by Bitmine's bankruptcy and failure to fulfill their customer promise. We are shocked that Bitmine management used baseless accusation as excuses to default their refund on their customers and cover up their business risk takig and engineering mistakes. We have every evidence to show that Innosilicon has faithfully followed our contract and contract amendment and it is Bitmine that grossly mishandled their miner design and business in a very unprofessional manner. It is very obvious that A1 chip has been a huge success, on time and with quality , yet A1 miners from Bitmine did not ship on time and with quality to their customers 12 months after. Isn't it clear that who did their job right, who did it wrong?


We reserve every rights to file lawsuit against Bitmine management on spreading baseless rumors to damage Innosilicon reputation. Should anyone need more information and legal help, our legal department is happy to assist.

Best regards,
Joey Jiang
Innosilicon Marketing Director
sales@innosilicon.com


-ASICminer

https://bitcointalk.org/index.php?topic=99497.0
https://bitcointalk.org/index.php?topic=974058.0


https://i.imgur.com/hsE4x5R.png


https://i.imgur.com/Y42ZMeW.png

-Yesminer

My number is 170 and 311.








Legal wise we have a signed contract with Yes miner and Volker Stuider made by Yesminers and our layers. This is only a test order from us and if they perform as promised they will be our generation 4 miners in our farm.
Still if this is a hoax, its pretty damn good one :-)

Turned out to be a No-miner.

- Hashra


https://i.imgur.com/MMIBdCx.png

Hello Cryptonauts!

Wow, there has been a lot of news recently in the ASIC Scrypt mining world!

Good news is we have our own miners now!  Grin

We have created the "Lunar" series of ASIC Scrypt miners.

These will be simple scalable and modular in design, super easy to use and of course we are working on a very special edition of our CONTROLA firmware that will have some extra features… More on this to come.


UPDATE 17th JUNE 2014:

LUNAR LAUNCHER = 14MH+
LUNAR LAUNCHER WARP 2 = 28MH+
LUNAR LAUNCHER WARP 3 = 42MH+
LUNAR LAUNCHER WARP 5 = 70MH+

Remember we supply you with the goodies to get going including some very special firmware.


Here you can see us testing the case design and early hash rate:
http://youtu.be/znc55b5k_x0

hashra.com
github.com/hashra



I am looking to generate a list of potential buyers who have purchased one of HASHRA's new Moonraker or ASTRO miners. I will be building a case to hopefully begin sometime of litigation process against Simon Bright and his HASHRA organization for defrauding buyers.

I have already filed reports with the following authorities:

United States:

https://complaint.ic3.gov/default.aspx

IC3 Complaint: I1410121225127641

United Kingdom

www.actionfraud.police.uk:

National Crime Reference Number: NFRC141000793999

Submitted by user suresync:         NFRC141000796740

Submitted by user onefix:             NFRC141000801205

Submitted by user dafky2000:       NFRC141000802650

Submitted by user Develop:          NFRC141000801250

Submitted by user kalps:              NFRC141000803431

Hong Kong

http://www.police.gov.hk/ppp_en/02_er_room/

Direct Link
https://secure1.info.gov.hk/police/eforms/report_cyber_crime_en.php

Hong Kong Consumer Council Complaint:

https://www.consumer.org.hk/cc-complaint/index.php?lang=en


I would suggest referencing the above reference numbers as well as including yours in the posting. If we can create a large enough network of these filings it may help trigger some type of action.

Please see this forum thread for reference information regarding Simon Bright's most current contact information:

https://bitcointalk.org/index.php?topic=601217.580

Please reference it when you submit your report.

Here is the bank information that you can reference in the report:

Beneficiary Bank: HSBC Hong Kong
Beneficiary Bank Address: 1 Queens Road Central, Hong Kong
Country: Hong Kong
Name of Account Holder: HASHRA Limited
Account Number (IBAN): 652303793838
Bank Code: 004
Swift Code (BIC): HSBCHKHHHKH

Here is HASHRA's registered Addresses, business ID numbers, and contact information:

HASHRA Limited

London:
1st Floor, 6-8 Bonhill Street
London, EC2A 4BX.
United Kingdom
UK Company Registration Number: 08828755

Hong Kong:
Level 9, Central Building
1-3 Pedder Street, Central
Hong Kong
Hong Kong Company Registration Number: 2041737

Here is Simon A. Bright's Most Recent Contact information:

Simon Bright
39A Prairie Street
London, London SW8 3PL
United Kingdom
+44 7941159485

Email:
info@hashra.com

If you are located in another country other than the ones listed above please file a report with your local authorities and paste a link to the website you used and the ID number of the report so others may reference it.

I understand that he has two more days to 'technically' refund our money but considering the lack of communication for almost a month and no other indications that development of the described products is even occurring it would be safe to presume that willingly sending out refunds is just wishful thinking.

I would like to see Bitcoin succeed and it will have a hard time gaining ground if individuals/companies do not stand by their word. Thank you for your support

EDIT 10/17/2014 I have added a spreadsheet to help track all of the information please update it if you have new information to add.

https://docs.google.com/spreadsheets/d/1_A1m8AhKuQcitLWbAy0SxP7G0j6OUFKSchHyW1tiuUE/edit?usp=sharing



- BlackArrow


https://i.imgur.com/kuN7KTx.png

Anybody already read about the BlackArrow Compensation for X1/X3 customers ? : Prospero X36

http://www.blackarrowsoftware.com/store/index.php?dispatch=news.list
23-12-2015: http://www.blackarrowsoftware.com/store/compensation-available.html

--------------------------------

Black Arrow is happy to announce that has finished the design and testing for our latest miner: Prospero X36

Features:

    many times cheaper to manufacture than X3
    based on the 28nm Minion ASIC
    30-40% less power (around 0.6-0.7W/Ghash at the wall)
    3x smaller than X3
    3x lighter than X3
    10-20% faster than X3
    boots in less than 1 second
    more stable
    external PSU

Drawbacks:

    Louder than X3
    No LCD
    No GUI
    Designed with cost in mind therefore it is not very beautiful

Compensation for X1/X3 customers:

With the availability of this new miner we can start providing the promised compensation to most of our X3/X1 customers.

Unfortunately our current financial situation prevents us from building new miners free of charge therefore we cannot offer these miners for free. For this reason we are offering to almost all our X1/X3 customers more hashing power than we have promised initially but they must pay the manufacturing costs for the miners and we will offer the ASICs for free.

Our offer is to build X36 (2.2Thash) for each 1 Thash we have promised in compensation if the customer is paying the manufacturing cost of the miner.

Manufacturing cost to build a miner with 36 chips is 2500 RMB (US$390). They also require 2 x PSUs which cost 200RMB each (2 x US$31). As specified above this cost does not include ASICs cost which is paid by us for almost all customers to which we have promised compensation. Prospero X36 reaches 2.2 to 2.4 Thash at 0.6-0.7W/Ghash at the wall.

We will not be shipping this miner out of China. For foreign customers, in order to use this miner we will be hosting it in our data centre. The customer will have no configuration rights and we will mine towards the pool that we choose. At the moment it costs 19.21 RMB/day of hosting for 2.2 Thash. We will send to the customer periodically (around once or twice per month) the revenue in Bitcoins that remains after we pay the hosting fee. This fee includes maintenance of any failed miners so the customers does not need to worry about repairs. After the first 3 months (which are the warranty period we offer for these miners), we will charge a maintenance fee which is calculated by dividing the repair cost of failed miners between miner owners and their share.

Customers who wish to proceed with this compensation are invited to place the order on our website. In order to benefit of the free ASICs offer, please use the same email address that you have used to place your order for X3/X1 and write in the notes their order number for X3/X1 and the compensation expected.

This is not a preorder, the miners are in stock and will beging hashing within 2 working days.

Please note that at the moment these miners cannot be shipped out of China for these reasons:

    High domestic power fees makes it unprofitable to host the miner at home.
    The 5000 RPM fan generates loud noise which makes it unbearable to host it at home.
    We cannot provide warranty due to high shipping costs and customs fees.
    They require a CE/FC certification.

However, if you still want to have the miner at home or your own datacentre, please let us know. If there are enough customers to make CE/FC certification worthwhile, we will get it and ship the miners.

Legal notes:

    The compensation is being provided by Black Arrow voluntarily as a dedication to our loyal customers.  We are not obliged by our current or previous contract to provide it and we can withdraw this offer at any time, as we see fit, without a reason or any explanation.
    All orders are final, no refunds will be issued after we have sent the first mined coins to the customer.
    The hosting is provided by a 3rd party and they (not us) will be responsible of safekeeping of your miner.
    Power outages can happen from time to time and no compensation can be provided for it.
    This offer is not available to few customers that will be announced in private should they place the order with us.
    Our standard terms and conditions apply.


--------------------------------

Total costs for me (X3): US$ 894
Hosting: US$ 3,- /day

https://alloscomp.com/bitcoin/calculator :
difficulty: 93448670796
-> BTC 0.01237776 BTC /day = US$ 5,14
after next difficultychange: BTC 0.00973987 = US$ 4,05

US$ 8,10 (2 units) – US$ 6 (hosting) = US$ 2,10 profit /day
US$ 894 (2 units) / US$ 2,10 (profit/day) = break-even: 426 days = 61 weeks = 14,2 months
(if the next difficultychange and BTC-value remains)

calculation edited:
a unit costs more: 2 psu's needed for each unit
1 unit + 2 psu's = US$ 452
however: http://www.blackarrowsoftware.com/store/x36.html : US$ 447



just quoting from that thread:
Dear All,

Black Arrow is launching a new product:

eWallet - hardware Bitcoin wallet

  • 100% Trezor compatible.
  • Does not require a cable to connect to your laptop
  • Smaller than Trezor
  • Open source code available for auditing in order to ensure that there are no backdoors
  • Can be used on a virused computer even with keylogger installed
  • This wallet never exposes the private keys to the outside world to keep your coins always safe. All transactions are signed by the wallet.
  • Embedded screen ensures that you sign the transaction that you really intend to.



Now in stock.

Order here: https://www.blackarrowsoftware.com/store/ewallet.html




Dear All of You Low-Life Pieces of Shit at Black Arrow,

The notion that you are "launching" anything is fucking hilarious.

As a result of your total fail on your last "product launch" your last customers lost their asses and have no need for a bitcoin storage device.  The last product you 'launched' started on fire in people's homes.  Nice work on that, morons.

Maybe BlackArrow, aka Alex Sovu, you could go back to credit card theft, as this business is dead.  You know plenty about that now don't you, crookie-crook?

Of course it wouldn't surprise me at all if this new device is set up to skim bitcoins or keys to you in just a new age version of credit card skimming, with which I hear you are also familiar.  Isn't that true also, crookie-crook?

As to these devices, I suggest you shove them up your ass.  I'd pay 40 bucks to watch that, you piece of shit, and I'm sure others would also.  Hold a raffle to see who gets to ram them up your ass with a broomstick and you'll rake in thousands, I have no doubt.

Beyond that, aren't you the same stupid fuckers that say you had a shitload of bitcoin stolen from you?  Any fucking newb understands cold storage, which you apparently didn't, and now you're somehow security experts that are so crackerjack on this game that people can trust you to keep their money safe when you could not do so for your own.   That's some good shit, right there.

So this fucking group of morons that calls themselves a company was founded by a guy that ran a credit card fraud operation, then a company that built credit card skimming devices.  Now this latest company sold stuff to people based on a set of promises that it did not keep and built miners that started on fire and delivered only after they were net losers to even plug in; and it had bitcoins stolen from it, such was it's ethics, technical ability and security prowess.   Feel free to correct me if I'm wrong on any of that, Alex, but I won't hold my breath waiting for you to pipe in.

Now this same bunch of unethical, incompetent assholes wants to sell people a device that they will plug into their computer, which holds their personal information and other sensitive stuff and store their MONEY for them?

That's fucking priceless, man.  I gotta tell you, even for a total piece of human trash like you, Alex, that is funny stuff.

You can't write stuff this funny.  You jerkoffs really should try standup comedy.


See here for information on these people.

https://bitcointalk.org/index.php?topic=716310.msg8090697

to my knowledge They have never denied that this is the same Alex Sovu.

translated text is below

http://85.120.75.151/comunicat-de-presa__l1a15869.html

PRESS RELEASE
On 01/14/2003, workers in DGCCOA-Brigade Bucharest, based on the information held, and a search warrant issued by the Public Prosecutor at the Court of Appeal, proceeded to carry out house searches in homes following: Sovu Alexandru Ion, 24 years old from Bucharest, sector 2; Sovu Mircea Dan, the brother mentioned above, 23 years, Bucuresti, Sector 2, both associated to a company in Bucharest; and STOENESCU LILIANA bridegroom, 32 years old from Bucharest, sector 6.

Those concerned together with Mircea RADUT of 32 years, Bucharest, sector 4 and Ixari Iulia Cristina 26 years old from Bucharest, sector 2, were part of a network that deals with committing computer fraud via the Internet community.

In fact, in the period 2000 - 2002, the brothers launched Sovu more orders on the Internet at online stores abroad (in particular the United States, Australia and Canada) for the purchase of goods using fraudulent card numbers credit is not theirs, without the knowledge or authorization of the true owners. After orders have arrived in Romania about 100 parcels names and addresses accomplices, STOENESCU LILIANA bridegroom and Mircea RADUT which to raise their courier and postal offices in exchange from the brothers amounts between 300,000 and 1,000 .000 USD, depending on the contents of the package.

When conducting a search at the home of Dan Mircea Sovu were discovered approximately 300 printer cartridges, computer components, transceiver stations, digital cameras, clothing, hammocks, board snowboard, paragliding, coveralls and complete motorcycle suit including full helmets, boots, gloves and jackets, all professional contest. He also had at his home, located in the basement storage room, arranged as warehouse, motorcycle parts, namely, drums exhaust, lights, tires, disc brake pads, etc.. All items found from abroad being the products of prestigious companies.

wow.  is this true?

anyone?



- Hashfast - Cypherdoc


https://i.imgur.com/I3ZHltY.png

Sooooo, 'someone' got a matter that deserves wide interest and general discussion promptly moved to "Scam Accusations" side topic.
https://bitcointalk.org/index.php?topic=1105722.0 even though 5 legendary high-trust members felt fit to comment upon it. It is time to begin a meta discussion about how we deal with known bad actors from inside bitcointalk. Especially now we have clear knowledge of paid disinformation agents covertly running pay-per-topic-pumping schemes on these forum boards.

We cannot tolerate knowingly harboring nascent scammers and paid shills in our midst. Would the moderator who moved the above topic like to explain who contacted him/her and if he was paid to move the topic by cypherdoc to do so?

Here was the original legal document if anyone can't be bothered linking to the revelation. Judge for yourself if this scandal is worthy of general discussion?

Quote
gov.uscourts.canb.532683.1.0.pdf

Inside that document the title will be:

California Northern Bankruptcy Court Case No. 15-03011 Hashfast Technologies LLC- Adversary Proceeding Document 1

Examine p1, pg 6. And I quote:

"At the times of the Transfers, the BTC transferred to the Defendant were worth $363,861.43. Based on the value of the BTC at the time of the transfers, the Defendant received approximately $11,370 per day or $2,274 per post on the “HashFast Endorsement” thread on Bitcointalk.org. By contrast, the highest salary paid to any principal or employee of HFT and/or HF was $144,000 for the entire calendar year of 2013."

Examine p3, pg 6. And I quote:

"At the time of the Transfers, the Debtors owed substantial sums of money and/or equipment to numerous customers and/or vendors. Many of these obligations remain unpaid and constitute general unsecured claims against the Estate. As of September 30, 2013, the Debtors’ balance sheet had a negative equity balance of about $5 million."

http://www.plainsite.org/dockets/2k5w2nwul/california-northern-bankruptcy-court/hashfast-technologies-llc-adversary-proceeding/

Looks like cypherdoc siphoned 3000BTC off Hashfast while customers were pre-paying for undelivered mining equipment. The payments were made in return for his 'shilling' on bitcointalk.org in the HashFastEndorsement thread. So probably some kind of pass-thru, tunnel or quid pro quo arrangement to ultimately bilk HashFast customers, I mean $2,274 per post, wtf?!

Edit: okay, I got a reply from the mod who moved the original post and it seems like he legitimately thought it was a scam accusation, although I didn't intend it like that. I think it is because the court documents show defense claims of $2,274 per bitcointalk.org post seem so outrageous on the face of it that the original post may indeed look like a scam accusation, which it isn't per se.

All HashFast customers appear to have had their email addresses leaked today by the company itself.

Please ensure:
1. Images are turned off in your email client to prevent ip phishing attempts.
2. Reverse email lookups do not reveal your delivery address.
3. You do not open emails that appear to be phishing attempts.

Disclaimer: I am not a paid employee of HashFast but was instead selected to answer questions for them here on bitcointalk -- so please don't emit venom in my direction.


To sum it up:


https://i.imgur.com/wJ9phiX.png

All my history threads are a work in progress and I like adding to them as information becomes available.

Comments, suggestions and corrections are welcome and encouraged.

If you had personal experiences it would be great to hear them.
Further info: https://en.bitcoin.it/wiki/List_of_Bitcoin_mining_ASICs#Canceled_projects

Thank you: Flying Hellfish for suggesting this topic.

We are surrounded by legends on this forum. Phenomenal successes and catastrophic failures. Then there are the scams. This forum is a digital museum.  
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Flying Hellfish
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July 18, 2018, 11:54:00 AM
 #2

Thank you: Flying Hellfish for suggesting this topic.

No problems dude, I was never gonna do this so it's cool someone was willing to.  The history of the ASIC race was intense, at least for me.  I was dying to get into ASIC mining but for the life of me even being a newb I could not understand giving out an interest free loan to complete strangers on the internet without any kind of record.  I also couldn't figure out why they would sell me a machine for less than they could use it themselves for.

I actually coined a new phrase, investomer.  Which is someone who invests in the company but only has the benefits of being a customer of the company.  It was wildly unpopular back in the day, I took a ton of heat for being to "establishment" but whatever, I didn't get scammed but I was so close literally a click away once!

Black Arrow was another one I forgot to mention

The Original Avalon story and them being the first ones to produce a commercial ASIC miner was interesting.  I remember an article where the kid (yifuguo sp?) was sitting in a car with the first ever wafers of chips, I forget the percentage but it was a large percentage of the network hashrate literally sitting in his hands!

Hashfast was another intense one.

Jesus most of these deserve a post of their own LOL.

Thanks for doing these I love history and you're other threads were great as well bro!

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xtraelv
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July 18, 2018, 01:46:12 PM
 #3

Thank you: Flying Hellfish for suggesting this topic.

No problems dude, I was never gonna do this so it's cool someone was willing to.  The history of the ASIC race was intense, at least for me.  I was dying to get into ASIC mining but for the life of me even being a newb I could not understand giving out an interest free loan to complete strangers on the internet without any kind of record.  I also couldn't figure out why they would sell me a machine for less than they could use it themselves for.

I actually coined a new phrase, investomer.  Which is someone who invests in the company but only has the benefits of being a customer of the company.  It was wildly unpopular back in the day, I took a ton of heat for being to "establishment" but whatever, I didn't get scammed but I was so close literally a click away once!

Black Arrow was another one I forgot to mention

The Original Avalon story and them being the first ones to produce a commercial ASIC miner was interesting.  I remember an article where the kid (yifuguo sp?) was sitting in a car with the first ever wafers of chips, I forget the percentage but it was a large percentage of the network hashrate literally sitting in his hands!

Hashfast was another intense one.

Jesus most of these deserve a post of their own LOL.

Thanks for doing these I love history and you're other threads were great as well bro!

The new "investomers" are heavily throwing their crypto at ICOs

I've thrown a bit of $ at cloud mining at Genesis Mining which didn't work out too bad (did it at the right time)

Generally I like buying near end of life Asics and getting the last bit of value out of them before they become uneconomical. No real ROI required because I can buy them for the cost of the PSU and not have the risk and worry of having them shipped or losing $ due to permanently delayed shipping. The mining margins are quite small. I learned from when I sold some miners and bought BTC with the proceeds. I made more gains from the BTC purchase than I would have if I used the miners for the next 2 years.

I do quite like the idea of mining and kept my foot into it most of the time.  Even if the miner functioned better as a bathroom heater than mining crypto.

In the early days having a few decent miners meant you could take over 51% of the network hashpower of a smallish alt coin.

I've often thought of picking up some museum pieces along the way. Oldest retired ASICs I have is a U3 and some Gblades.

My current favorites are the Innosilicon miners. Bitmain just has too much control.

You are right - each of them could have a thread dedicated to them. I do try to link as much as possible to the old threads that are "as it happened".

Thank you for the compliment. If I hadn't discovered the rich history on here I'd probably still be a once or twice a month poster.



I think you'll like this thread: https://bitcointalk.org/index.php?topic=140099.0 It was the first avalon miner to be delivered to a customer.

We are surrounded by legends on this forum. Phenomenal successes and catastrophic failures. Then there are the scams. This forum is a digital museum.  
* The most iconic historic bitcointalk threads.* Satoshi * Cypherpunks*MtGox*Bitcointalk hacks*pHiShInG* Silk Road*Pirateat40*Knightmb*Miner shams*Forum scandals*BBCode*
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July 18, 2018, 02:51:20 PM
 #4

It is extremely gratifying to open the Meta Section and among many topics discussing merits, allegedly hacked accounts, and other meaningless discussions, be able to read a new topic from your or DdmrDdmr. Thank you for that.


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Lafu
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July 18, 2018, 08:32:19 PM
 #5

@xtraelv   

AWESOME thread Bro  realy nice , would be give a Merit but i dosnt because dont know if we get in trouble or something else again LOL !

Mining was funny as there wasnt any ASIC long time ago for and you have to setup your Mining Software manual with all commands in the start.bat file for yourself !

Good old Days mining with GPU bitcoins !


Maybe you can add a few newer ASICS :

Baikal has some



And Bitmain with the Antrouter R1



and Antrouter R3



             
                           
                     
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xtraelv
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July 18, 2018, 08:52:38 PM
 #6

@xtraelv  

AWESOME thread Bro  realy nice , would be give a Merit but i dosnt because dont know if we get in trouble or something else again LOL !

Mining was funny as there wasnt any ASIC long time ago for and you have to setup your Mining Software manual with all commands in the start.bat file for yourself !

Good old Days mining with GPU bitcoins !


LOL yeah. I felt bad that you got dragged into all that merit mess - you know I respect the help you give newbies on here. I can handle myself - at the time I even considered setting up a new account and start from scratch to prove I don't care about having a rank. (A copper account would have done it for me) But it was upsetting that you got dragged into it. The good part that came out of it is that I was challenged to look for what made bitcointalk so special and found many answers when I started documenting some of the historic event in chronological order.

This thread is really about the straight out rip offs that caused people to lose $.

So either didn't get their miners or got them so late that they were paperweights.

With the focus on Bitcoin ASICs

Those Cryptonight miners became a paperweight because of the algo change.

I might make a thread about mining equipment though.

It is extremely gratifying to open the Meta Section and among many topics discussing merits, allegedly hacked accounts, and other meaningless discussions, be able to read a new topic from your or DdmrDdmr. Thank you for that.

Thank you for the compliment. There are also so many untold stories. The media is only really interested in "firsts", "hacks", "exploits" and "scandals". I'm very excited about some of the information from users that have contacted me. There are some really cool stories in the pipeline !
I agree that Ddmrddmr posts are great. I particularly like this tool https://fusiontables.google.com/DataSource?docid=1wM2Op6_ol8_0iP0sDEemIGr9weKvIeLPvKsKMpFy#chartnew:id=3

Playing around with that and looking at merit stats to try the tool on led to this: https://bitcointalk.org/index.php?topic=4679939.msg42235344#msg42235344 (Cryptodevil made the biggest discovery but looking at the unusual merit activity and that the user had just changed their password and email address made me alert him in the first place)




We are surrounded by legends on this forum. Phenomenal successes and catastrophic failures. Then there are the scams. This forum is a digital museum.  
* The most iconic historic bitcointalk threads.* Satoshi * Cypherpunks*MtGox*Bitcointalk hacks*pHiShInG* Silk Road*Pirateat40*Knightmb*Miner shams*Forum scandals*BBCode*
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