New Official AMT Thread

[eightcylinders]

Power...if you dont have the space, or power in your home or facility then it makes sense to host it somewhere that can. Thats actually a bargain to host it at that price.

It is if you only have one unit.  I just got a full rack at a nearby colocation facility, very secure large data center in Naperville, Illinois for $600/month which includes my first 40 amps of power (after that its metered but at a lower rate than I would pay at home).  I could theoretically fit 27 Spondoolies SP10 in there (assuming I could afford 27 of them, which I can't alas).  Power draw for 27 SP10's would be about 300 amps .. but my first 40 amps are included so i would only pay metered power for the remaining 260amps.. but considering that hosting 27 SP10s would cost well over $5,000 a month, you can see that a DIY rack in a good data center is still a much better alternative (granted my colocation deal is very good .. next best quote was over $900 so YMMV, but still if you have a lot of units paying a per unit hosting fee is probably never going to be a good deal vs a DIY rack).

[FrictionlessCoin]

Power...if you dont have the space, or power in your home or facility then it makes sense to host it somewhere that can. Thats actually a bargain to host it at that price.

It is if you only have one unit.  I just got a full rack at a nearby colocation facility, very secure large data center in Naperville, Illinois for $600/month which includes my first 40 amps of power (after that its metered but at a lower rate than I would pay at home).  I could theoretically fit 27 Spondoolies SP10 in there (assuming I could afford 27 of them, which I can't alas).  Power draw for 27 SP10's would be about 300 amps .. but my first 40 amps are included so i would only pay metered power for the remaining 260amps.. but considering that hosting 27 SP10s would cost well over $5,000 a month, you can see that a DIY rack in a good data center is still a much better alternative (granted my colocation deal is very good .. next best quote was over $900 so YMMV, but still if you have a lot of units paying a per unit hosting fee is probably never going to be a good deal vs a DIY rack).

The future will be apps that support  'collaborative consumption'.. uber, bnb, bitcoin (transaction verification), safecoin (storage)...

[eightcylinders]

[snip]
The issue is they decided to crowd-fund their business without first using kickstarter or indiegogo. Which will hold the funds in escrow and set up guarntees. This is where the failure lies. And now its been exploited via negligence or just outright theft depending on the company.
[snip]
Once legislators are made aware of this and enough constituents complain about it, it will get attention. It might be a good idea also to pass this along to California, Texas and Kansas legislators as well. get bi-partisan support on this and highlight the mining companies based in the respective states. Cointerra (TX), BFL (Kansas), Hashfast (CA). each of these states have growing technology hubs, and this will throw a black eye on each of them. Legislators will see the need to put a stop to this nonsense quickly. They will push for regulatory procedures to address this pre-order system and put a stop to it. Might affect innovation BUT people will have to go at it the old school way whichis getting funding via willing investors or the less conventional way of crowdfunding with an escrow system (like kickstarter or indiegogo)

A couple of quick thoughts, though I like where this is headed.

(1) Before sure in your documentary? to focus in the **pre-order** issue and its abuse by fraudsters.  You can include my experience with Xtreme Miners too and there are probably others.

(2) I would avoid focusing on the irreversible and untraceable nature of bitcoin transactions.  That might lead legislatures to start trying to regulate bitcoin in a very undesirable manner (requiring transactions go through clearinghouses for example, which would destroy the distributed ledger).  Legislative efforts along those lines would be disastrous (and wouldn't work ultimately, but would probably kill bitcoin).

[opieum2]

[snip]
The issue is they decided to crowd-fund their business without first using kickstarter or indiegogo. Which will hold the funds in escrow and set up guarntees. This is where the failure lies. And now its been exploited via negligence or just outright theft depending on the company.
[snip]
Once legislators are made aware of this and enough constituents complain about it, it will get attention. It might be a good idea also to pass this along to California, Texas and Kansas legislators as well. get bi-partisan support on this and highlight the mining companies based in the respective states. Cointerra (TX), BFL (Kansas), Hashfast (CA). each of these states have growing technology hubs, and this will throw a black eye on each of them. Legislators will see the need to put a stop to this nonsense quickly. They will push for regulatory procedures to address this pre-order system and put a stop to it. Might affect innovation BUT people will have to go at it the old school way whichis getting funding via willing investors or the less conventional way of crowdfunding with an escrow system (like kickstarter or indiegogo)

A couple of quick thoughts, though I like where this is headed.

(1) Before sure in your documentary? to focus in the **pre-order** issue and its abuse by fraudsters.  You can include my experience with Xtreme Miners too and there are probably others.

(2) I would avoid focusing on the irreversible and untraceable nature of bitcoin transactions.  That might lead legislatures to start trying to regulate bitcoin in a very undesirable manner (requiring transactions go through clearinghouses for example, which would destroy the distributed ledger).  Legislative efforts along those lines would be disastrous (and wouldn't work ultimately, but would probably kill bitcoin).

Actually you want to address point 2 head on as its a misconception that its untracable. The open nature of the blockchain makes it so its easily tracable even more than cash. FINCEN and the DEA have even admitted to such. That should be highlighted to address the issue as it has official recognition in the matter. Will be very hard to dispute. Considering the mastercard lobby now against bitcoin this video could be one useful tool for or against bitcoin.

[subseaguru]

I'd be very interested in buying this company. Money is no problem, but the brand AMT has run its course. The only reason I am interested in buying it is to smash everything thats left with a sledge hammer. That's the only value AMT would be to me.

why give them any more money?? they have already taken enough. maybe they would be willing to sell it for little of nothing just to get rid of the name.

[opieum2]

BFL is a business that shows up to work and answers the door and emails. We are talking apples and oranges.

Fair point. I am using the FTC to get results with them as they are violating a host of regulations with their current "policies"

[FrictionlessCoin]

Great news! As promised I called the police on these guys within 24 hours of my demand email. The Lower Merion Police said because the amount stolen from me was enough to press charges against AMT miners. Everyone who wants to file charges go to your local police stations, and Lower Merion township will follow up on the charges you press at your local police stations.

Lower Merion?

Anyway,  what exactly did you tell the police? 

That you bought something over $X,XXX and the company is not delivering the item?

[opieum2]

Great news! As promised I called the police on these guys within 24 hours of my demand email. The Lower Merion Police said because the amount stolen from me was enough to press charges against AMT miners. Everyone who wants to file charges go to your local police stations, and Lower Merion township will follow up on the charges you press at your local police stations.

Lower Merion?

Anyway,  what exactly did you tell the police? 

That you bought something over $X,XXX and the company is not delivering the item?

That discussion is probably best had via PMs honestly. Why play your hand publicly.

[sabre]

Great news! As promised I called the police on these guys within 24 hours of my demand email. The Lower Merion Police said because the amount stolen from me was enough to press charges against AMT miners. Everyone who wants to file charges go to your local police stations, and Lower Merion township will follow up on the charges you press at your local police stations.

AMT has a bad habit of avoiding customers by not replying, avoiding opening the door, not receiving shipments of returned hardware, etc. Now they are going to learn that the police can get a warrant and break down the doors to their office and homes and lug them to jail. Oh and at that time they WILL have the RIGHT to REMAIN SILENT

AMT wont be able to hide anymore and sadly if they are employing any real employees, they will probably be charged as well.

[loshia]

Great news! As promised I called the police on these guys within 24 hours of my demand email. The Lower Merion Police said because the amount stolen from me was enough to press charges against AMT miners. Everyone who wants to file charges go to your local police stations, and Lower Merion township will follow up on the charges you press at your local police stations.

Lower Merion?

Anyway,  what exactly did you tell the police? 

That you bought something over $X,XXX and the company is not delivering the item?

That discussion is probably best had via PMs honestly. Why play your hand publicly.

To damage your pr efforts 

[NotFuzzyWarm]

Power...if you dont have the space, or power in your home or facility then it makes sense to host it somewhere that can. Thats actually a bargain to host it at that price.

It is if you only have one unit.  I just got a full rack at a nearby colocation facility, very secure large data center in Naperville, Illinois for $600/month which includes my first 40 amps of power (after that its metered but at a lower rate than I would pay at home).  I could theoretically fit 27 Spondoolies SP10 in there (assuming I could afford 27 of them, which I can't alas).  Power draw for 27 SP10's would be about 300 amps .. but my first 40 amps are included so i would only pay metered power for the remaining 260amps.. but considering that hosting 27 SP10s would cost well over $5,000 a month, you can see that a DIY rack in a good data center is still a much better alternative (granted my colocation deal is very good .. next best quote was over $900 so YMMV, but still if you have a lot of units paying a per unit hosting fee is probably never going to be a good deal vs a DIY rack).

Hmmm.... Our facility has a good bit of open room upstairs and use only ~200kw of the 500kw feeding the place. Also have a 50kw backup genset. Anyone ever look at what the actual bandwidth of miners are? Might investigate doing a little hosting maybe (not a data center) and frankly the lasers we use here are worth more than a boatload of miners. Of course then again there is the cost of cooling...

I'm already going to move my Ant pharm there soon as the bill there is only 7-cents/kwh Und oww! nasty diff jump...

[sirminesalot]

My returned damaged AMT 1.2T Bitcoin miner is just sitting there at:

FEDEX GROUND
14300 TOWNSEND RD
PHILADELPHIA,  PA  19154-1015 (800) 463-3339

AMT, Please go pick this up. Everyone is concerned why you are not picking up your packages anymore or answering the door.

Why the fuck would Zipkin tell people to RMA their miners to a location where they are never at?

He should of given the address in which his car is located, considering he keeps all of the other manufacturing supplies in his trunk.

That's right people, AMT is run out of a CAR.

Yes, do you recall they accused me of waiting a week to ship it back. (The truth is it took a full week because AMT failed to pick it up at my address after they said they would). I had to get my trunk dirty and put that taped together cardboard box in my nice car.  They instructed me to send it back to them, which I did. AMT_Miners posted here that they would receive the 1.2T miner, fix it and ship it right back to me. (that's not acceptable to me, but they didn't even do that much). As I've said, it looks like they are no longer in action. It's actually been five times already, nobody is even answering the door anymore.

I'm sure AMT will show up again in a week to delete posts and tell everyone that the rest of the orders are "shipping shortly" and blah blah blah.

This is the problem, AMT is run by a compulsive liar named Joshua Zipkin. There is no way this can end well with him in charge.

[sabre]

Check out some more AMT advertising garbage...

https://www.coinpursuit.com/crypto-currency/advanced-mining-technology-amt.119/

Although AMT's website doesn't have user forums, there are videos that offer an overview of cryptocurrency and the mining method to the general public. For their customers, they go a step further: when you order a mining product from AMT, you are given a password that allows access to a host of manuals, tutorials and mining suggestions in their “Client Support” section. Further outreach is facilitated by their use of several types of social media, such as Facebook and Twitter


I've sent an email to the site to update their ad to say scam. But it may be helpful for other customers to send them info as well so that they know its not just my opinion.

[knet]

AMT,

I ordered two miners from you, one on January 16, 2014 and the other on February 4, 2014.  I have yet to receive either of them.  After requesting a refund, you have gone completely silent, leaving me out $12,000.  I've attempted the multiple email addresses I have for you, phone calls, etc without any recent responses.  I have also heard from staff that you are essentially about to go out of business. 

What are my options?  It is not acceptable to treat business partners and generally people in this manner.

-Mark

[opieum2]

AMT,

I ordered two miners from you, one on January 16, 2014 and the other on February 4, 2014.  I have yet to receive either of them.  After requesting a refund, you have gone completely silent, leaving me out $12,000.  I've attempted the multiple email addresses I have for you, phone calls, etc without any recent responses.  I have also heard from staff that you are essentially about to go out of business. 

What are my options?  It is not acceptable to treat business partners and generally people in this manner.

-Mark

Out of curiosity, what staff said that?

[NotFuzzyWarm]

Ya know folks, Bitmine.ch still lists AMT as the Authorized Distributor for North America. http://bitmine.ch/?page_id=5426  btw, I also have a screenshot of that page for when that changes.

As such, they are also legally involved in this mess. While they may have no direct control over how AMT is ran they DO have responsibilities for actions taken by AMT in their name.
Just sayin'...

One thing interesting that will come out in court is if AMT even ordered/paid for enough chips to cover miner sales...

[Biffa]

Ya know folks, Bitmine.ch still lists AMT as the Authorized Distributor for North America.  http://bitmine.ch/?page_id=5426 btw, I also have a screenshot of that page for when that changes.

As such, they are also legally involved in this mess. While they may have no direct control over how AMT is ran they DO have responsibilities for actions taken by AMT in their name.
Just sayin'...

One thing interesting that will come out in court is if AMT even ordered/paid for enough chips to cover miner sales...

As said Bitmine will be no help they are in the middle of a shitstorm themselves with their customers essentially doing the same in Europe as you guys are doing in the US. i.e. pursuing legal avenues

[opieum2]

Right and good luck starting legal proceedings in Europe. The EU or Switzerland it can take years just to look into it. The US in that sense is a much more consumer friendly situation. Basically anyone using the A1 chips appear to be having issues in some area or another.

[NotFuzzyWarm]

btw: I've used the Wayback to save Bitmine.ch's current Authorized Distrib page for any future reference.

direct link to archived page http://web.archive.org/web/20140430234019/http://bitmine.ch/?page_id=5426

Also, from AMT's page for the 520 miner I ordered (still says ships in 4-weeks or less) http://web.archive.org/web/20140501002030/http://advancedminers.com/bitcoin-mining-hardware/520-ghs-bitcoin-miner/

and AMT's home page advertising the 2+GH model http://web.archive.org/web/20140501001729/https://advancedminers.com/

The 1.2TH rigs are Sold Out.

[NotFuzzyWarm]

Right and good luck starting legal proceedings in Europe. The EU or Switzerland it can take years just to look into it. The US in that sense is a much more consumer friendly situation. Basically anyone using the A1 chips appear to be having issues in some area or another.

ja. Personally, worse come to worse I'll see if it can be written off come tax time (if anything, as 'computer equipment') to maybe offset of of the cap gains tax on BTC income. While rather cheesed at this kerfuffle and most likely being out just over $4k, frankly, this past month or so I've lost more from some of my SEP holdings. At least they will eventually rebound though... Already told my FA to stay away from silver  

Only taking this view because of the speculative nature of the biz to begin with and so only used a minor part of my xmas bonus on it. Shoulda taken a nice vaca with it instead...