Unofficial BITMINE CoinCraft series 28nm ASIC miners thread

[elvizzzzzzz]

"Not really, as you are not being (intentionally) scammed."

The Terms are still on their website and Bitmine knows they cannot deliver as advertised. 

Here, all I see is huffing and puffing, but nobody is willing to blow their house down.

[Collider]

What I was meaning to say is, there was no intent to rid you of your money from the start, it therefore is no criminal offence.

The only thing you can do is open a civil lawsuit with the mentioned high costs and problems.

It is not efficient to do so unless you have a huge order with them, and everyone else would probably be better off by either waiting for your refund or finding a solution with double the hashpower / using credit towards cloudmining.

[xnu]

I am to, just received standard answer:

Given your position in the refunds processing queue and our cash-flow projections, your refund is expected to be processed about on the second half of October, 2014.

That answer does not create much trust in their words because one of my friends has asked for a refund much later than me and he has queue position in September. He even hadn't filled any refund forms. So, basically, this so called "queue" does not exist in reality. Truth is that they either don't have the money or are refunding their partners first. That would make more logical sense than this "queue".

[elvizzzzzzz]

@collider

IMHO at some point Bitmine became a criminal organisation. I'd be happy to let a judge decide exactly
when that happened.

As to a refund in hashing power, *today*, eight times my ordered hardware would be fair, I might accept
five times if I thought Bitmine would (a) honour the deal and (b) survive more than a year. 


 

[elvizzzzzzz]

A lawyer has visited Bitmine, and it seems there are some proposals emailed.

Here, no-one seems interested in a refund. Go figure.

[elvizzzzzzz]

A summary of my latest discussion with a lawyer:

1. To prepare and launch action via the Swiss courts will cost 1000-1200 Euro.
Their courts do not provide for class action, hence even if a workaround is
found (see below) it will not scale well. My Bitmine order is simply too small to
make legal action profitable.

2. One way around this is to buy up refunds from Bitmine's (ex-) customers.
Before you get too excited about this, from my reading of the threads,
at best the expected payback is of the order of fifty percent of the refund.
Deducting for risks, costs and investment, if I were to go down that route,
well, ten cents on the dollar for your order seems about the market value.

Just my opinion, and my interpretation of some advice. I'd be happy to hear
differently, and this is not an offer to buy your order, just by the way.

[nikauforest]

Has anyone received a refund recently ? via bitcoin or wire transfer ?

I would like to hear if Bitmine is actively trying to refund customers money.
I received a letter acknowledging my refund request on June 6th , 2014 for order #4036

They owe me approximately 6 BTC

[AdamT]

Has anyone received a refund recently ? via bitcoin or wire transfer ?

I would like to hear if Bitmine is actively trying to refund customers money.
I received a letter acknowledging my refund request on June 6th , 2014 for order #4036

They owe me approximately 6 BTC

Your 6 BTC are forever theirs and you will never get it back. Sorry to break the news. I've been waiting since April, with basically zero response from them. No emailed returned at all, no updates on my refund, nothing. Called many times, finally got annoyed being blatantly lied to over and over again. "2 weeks" and "2 weeks" it's just all bullsh*t. Worst company ever.

[xnu]

What you can say definitely they breach their own written forms.

http://algotrade.co/rrf.jpg

[webiky]

Because Bitmine doesn´t communicate and didn´t return my money, I decided to warn all potentional buyers:
http://bestp2pool.wordpress.com/2014/09/22/do-not-trust-bitmine-ch/

[elvizzzzzzz]

Another thread reported that the Australian government is asking questions about who owns bitcoins.
That got me thinking about the coins I sent to Bitmine. Was this a donation, a bad business decision or
was it theft? It matters because I may be able to offset losses against taxation.

However, if I say my coins were stolen, the first question is going to be : "did you tell the police?
have you an incident number?"

I *think* the email address of the local police was posted earlier on this thread. I'd be interested to
read what others think. 

[macfarlane801]

Just so that you people know I was owed $40,000 by bitmine and yesterday I got my mining contract (36 TH/s) and have my account setup.

[kapanec]

Just so that you people know I was owed $40,000 by bitmine and yesterday I got my mining contract (36 TH/s) and have my account setup.

I am very sorry for you because you'll never get back your money. Feel happy with 36 TH, and please confirm that you're not Bitmine employee

[AdamT]

Just so that you people know I was owed $40,000 by bitmine and yesterday I got my mining contract (36 TH/s) and have my account setup.

LOL. Sounds like a paid Bitmine shill. These scammers don't return emails AT ALL. Paid for a miner ($5k) received nothing whatsoever. No refund as requested. Zero communication. Fucking scammers.

[SolarSilver]

I am parting out my 3 CCD miners -- earned 12 BTC over their lifetime, so -- made ROI

Total 14 modules

Modules are $175 each; $150 for 2 or more; $100 for 4 or more; + shipping

PM if interested

~nh

Can you explain to those who did not ROI (like most of us) how you did the math? When did you order? How much did you pay? When did you take delivery?

[SolarSilver]

In a nutshell; Ordered in December, paid 12 BTC, received in April, mined 13 BTC to date
(lost money if we look at $, make roi if I only look at BTC)

Oh I am only looking at BTC, don't care for the exchange rate (perhaps only to cover the costs of hosting and running the machines).

I guess you got lucky ordering in December when the BTC exchange rate was far more favourable than for most of us who ordered in September.

At current difficulty and exchange rate, are these still covering all their costs or is that one of the reasons you consider getting rid of them?

[michal1]

What do you think about go to Swiss with few people from all Europe in the same day?
Who can ride with me to Swiss and check what this company do and speak with them face to face and demand our money!
We don't leave their company until they give us money back. Otherwise we can wait another year.

[Collider]

What do you think about go to Swiss with few people from all Europe in the same day?
Who can ride with me to Swiss and check what this company do and speak with them face to face and demand our money!
We don't leave their company until they give us money back. Otherwise we can wait another year.

That is a stupid idea. The only thing that you will achieve is getting arrested.

[SolarSilver]

That is a stupid idea. The only thing that you will achieve is getting arrested.

Sure, but at least that would attract some press attention.

Remember the lone guy with a sign outside the MtGox offices that caught so much attention weeks before they folded?

[Collider]

Sure, but at least that would attract some press attention.

Remember the lone guy with a sign outside the MtGox offices that caught so much attention weeks before they folded?

Not really. Feel free to camp outside an office building (which isn´t in the middle of a financial HUB like MTGox headquarters) and try to attract any attention whatsoever.
(I for one have better / more lucrative things to do with my time though).

As I previously said, the easiest way is to work it out with bitmine and get compensated with hashpower / cloudhashing at a reduced price.

If you happen to be a Swiss citizen and are fluent in Italian, feel free to send them a "Betreibung", which is the first step to getting a court-approved claim.

If that isn´t true for you, the best option would probably be to wait for your refund.


As I see it, the cloudhashing service is operational now, with some software back-end issues to work on.