Some very 'bad' news on s19 shipments.

[danieleither]

*UPDATE*

I can now confirm they have shipped the 12 x units T17+ but under a different tracking number (so I didn't know about it until I spoke with customs today).

I can therefore confirm that Bitmain have shipped 2 x shipments to me this week, everything I currently have outstanding.

= VERY GOOD NEWS, a huge relief for me. I hope others will receive their shipments too.

[1715483598]

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[1715483598]

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[1715483598]

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[1715483598]

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[philipma1957]

Thanks for follow up

I wonder if all of the gear the are back ordered with will now move out.

[philipma1957]

update bitmain is reeling.

from Miner Expert

https://bitcointalk.org/index.php?action=profile;u=2706610

Note the image below is on miner expert's  telegram feed

https://t.me/minerexpertsales/669  this link should show image below



An illegal sale of 17000 units at a bargain price

he fucked the whole industry doing this.

Back in October bitmain did a one month sale of gear using PayPal to get the needed cash.

The pig could have done it with the s19 sale of 17,000 pieces
Instead he sold them under the table to a big corporation at a low price. of 100,000,000 yaun

100,000,000/17,000 = 5882 yaun a unit   which is  only $840.00  per s19 pro

he vanished the money.

Fucked us all .

He could have went the PayPal route but no he pulled this move.

If this is true it is huge .

100,000,000 yuan missing  = 14,000,000 usd

200,000,000 yuan owed     = 28,000,000 usd

[HagssFIN]

Wow, thats getting messy and illegal.

Phil, one fix though: I see it mentioning 17000 T17 units, not S19. I guess it is not so crazy cheap price for a T17.

[philipma1957]

Interesting I have a post saying it was other then t17  let me look for it.

https://www.forbes.com/sites/robertanzalone/2020/05/08/riot-blockchain-buys-an-additional-1040-new-mining-machines-from-bitman/#441137b72348

https://www.forbes.com/sites/robertanzalone/2020/05/08/riot-blockchain-buys-an-additional-1040-new-mining-machines-from-bitman

Phil ... expect another thousand of S19s going online soon.

seems I may have confused issue here I had recalled this above and blended it in with my old mind to think it was modern gear in the miner expert article

also seems that the miner expert info is wrong in some way

either it was not t17 and price was too cheap

or it was t17 and price was okay.

But either way 100 million yuan or 14 million usd is missing.

hopefully the sale was for t17 at 840 each then we miners did not get screwed badly.

Looks like more delays for gear.

[danieleither]

That's REALLY not good. I have 18 units x S19 Pro on order... I'll be in a bit of trouble if they don't turn up :\

[philipma1957]

That's REALLY not good. I have 18 units x S19 Pro on order... I'll be in a bit of trouble if they don't turn up :\

Hard to tell what is real and not real.

Miner Expert has been a very good reseller in China

The spokes person seems legit.  Whether she got good info here IDK

[NotATether]

So let me get this straight:

A shareholder of Zhan did a backroom sale of T17 miners, Jihan Wu sends the shipment fees to Zhan's bank account and then somebody, somewhere stopped the miners from being shipped, then Zhan refuses to pay their suppliers a large debt, and THEN, according to Wu, he's has no choice but to sell company futures to get funds. For a little fiefdom Zhan is really messing up Bitmain.

I also think Zhan has the ability to know where the missing 109 million yuan was transferred to considering it was in his controlled bank account.

Is there any information on whether the Bitmain affiliate Hainan kept the sales of the miners to itself or whether it handed some of it to Bitmain?

[mikeywith]

A shareholder of Zhan did a backroom sale of T17 miners,

Just for the record Zhan is one of the richest people on planet earth, he sits on over 5 billion U.S dollars, he doesn't have any kids and no wife, and he is in his 40s, it makes me wonder, what the hell does he want?  I also think he is a terrible CEO and despite all the bad things about Jihan's Wu he makes a better CEO, since we don't have data on their internal issues/ personalities - we can only judge based on the quality of the miners they made.

From November 2018 until end of October 2019 Jihan Wu wasn't the CEO of bitmain, and we all know what gears were made during that period, YES! you guessed right, the terrible 17 series with 30%+ failure rate.

[mgoz]

Received this email earlier today:

Dear Antminer Users,

We are sorry to inform you that the company’s daily operations have been affected by some unexpected external factors, the delivery for June batch and after may not be delivered on schedule. Nevertheless, the situation is under control and we are actively seeking solutions and strive to complete product delivery as soon as possible.

Antminer will provide specific compensation for orders which delayed for more than ten days of scheduled shipping date.

We apologize for the inconvenience and sincerely appreciate for your understanding and support.


Your Sincerely,

Antminer Sales Team

July 21, 2020

[danieleither]

Were you expecting a delivery from items on June batch, and they've only just emailed you now (3 weeks after June)!?

[mikeywith]

... some unexpected external factors...

Aren't they more like "Internal" factors of the 2 founders fighting to again control at the expense of their clients?

Nevertheless, the situation is under control...

How is it under control when the person who sent you this email works for "Jihan Wu" who has no access to the manfuruter/warehouse?

Antminer will provide specific compensation...

Thier compensation are usually in the form of coupons, if that happens they will flood the market with coupons that will eventually end up going for 10-20% of face value, I hope this time they give you guys a better compensation in a proper form of BTC.

Antminer Sales Team
Dear Antminer Users...

Since when do they refer to themselves as Antminer? I checked a few emails I received from them and they all state "Bitmain", what happened?

[philipma1957]

Looks to be getting worse not better.

I actually ordered two units from ebay.

5% coupon and

I got a decent price on two used s15s

I have two years to pay. No interest.

I can run them and should pay off quickly.
It is also a way to btc with paypal.
Kind of a small hedge.

since 24 months to pay is nice.

[mgoz]

Were you expecting a delivery from items on June batch, and they've only just emailed you now (3 weeks after June)!?

No. Expecting August 1-10 batch so they at least let me know 1-2 weeks in advance. I asked them what specific compensation would be and requested BTC. I did receive a partial BTC refund in the past for a price drop but it took awhile.

[philipma1957]

I opened that thread for refunds again: https://bitcointalk.org/index.php?topic=5201488.0.

[minefarmbuy]

Their asics have been unavailable for a while and now all parts. We've closed all our Bitmain listings and refunded all buyers who opted for it. I think we go lucky most were early batches, and I'm glad we opted to not offer a group buy for the 19 series.

[philipma1957]

I am glad we waited on ordering any s19's

In a way a long delay on this gear will keep the difficulty in check somewhat. Only decent gear around are whatsminers and they are costly.

[minefarmbuy]

Yea, can be reasonable in volume but you're still looking at $18-21/th on their M31s series. Still compared to zero and now bitmains reported theft of 10k units really is the only player in market for quality new gen manufacturer direct.

Which is sad as the 19 series as been reported to have better build quality than 17's and looks to better made than anything they've produced since the s9. Besides their fw

[philipma1957]

A new thread shows that bitmain is not shipping any parts.

https://bitcointalk.org/index.php?topic=5265736.0

Recently I ordered some spare parts from Bitmain, and they still haven't shipped. Odd since they are usually consistent and quick to ship (for spare parts at least).

I checked on their website and it seems like every single product is out of stock, including EVERYTHING on https://shop.bitmain.com/product/parts !!

Do you guys think bitmain is going bankrupt? I submitted a ticket but I'm afraid they might just keep my money even if they've stopped shipping orders.

This is all I could find online: https://news.bitcoin.com/leadership-feud-at-bitmain-10000-antminers-go-missing-in-inner-mongolia/

[mikeywith]

Will bitmain go bankrupt? I wish so, they have already abused their clients, the mining community and Bitcoin in general, I feel bad for those who have thier money stuck with bitmain and have yet to receive thier mining gears/parts because the two founders of this company can't get thier shit together, but I won't be sad to see them leave the game or slow down for months to come so that their rivals such as Canaan and MicroBt will have a better chance in improving also for other new players to potentially join the market.

It's also worth saying that even if they restock some gears on thier website, people should still be careful as we can't tell who really owns the website now, it does seem like it's under Jihan's control while Zhan still control the warehouses, but we won't know where would the money go to and wether or not you will ever receive a mining gear or your money back with all the mess going on, so please be careful.