LSM Labs

[asmodelle]

This is a thread about a new mining manufacturer called LSM Labs.

The site is at this address: https://lsm-labs.com

They have listed:

Pandora
3 TH/s ASIC Miner
$7,199 USD
Delivery by 21st May 2014

As well as other machines.

They seem cheap and the delivery time looks very early - this prompted me to put up a few red flags in another post, which has been moved to this thread.

1) Their domain name is cloaked.
2) They said they will process BTC payments through a 3rd party Escrow (VC-Escrow.com), they too have their domain cloaked.
3) The address seems generic - but this not unusual.
4) LSM Labs Limited, a company incorporated under the laws of the British Virgin Islands (“LSMLabs”), how is this different from other companies, what recourse do mining facilities have for refunds with such a company?
5) There were stock images of two members of the team but these have since been removed. And it seems it was done by the website designer.

I did write to the website and received an email response but I am not sure it was a friendly one. I invite staff of LSM Labs to respond to this message and explain why we haven't heard of this company before? Where is the Reddit and Bitcointalk promotion?

Are LSM Labs going to tell us what assurances mining companies have that their products will be delivered?

Does anyone have any experience with this company and if so was it a positive one???

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[notlist3d]

I always find it amazing when new people find a new site selling questionable product.

[jimmothy]

Does anyone have any experience with this company and if so was it a positive one???

Other than sending money in to a black hole, no. Nobody has had any experience with them.

Too bad these scammers are going to have to buy a new domain name and try again.

[maardein]

I always find it amazing when new people find a new site selling questionable product.

Exactly

But, you know what, if you send me a miner for free, I will take pictures and review it for you, to give you some credibility

[dogie]

"As seen on Forbes, Bloomberg etc".... nty.

[Searing]

lol

looked at their site

you can't get a hold of them sometimes email 'extremely busy"

you can't visit their offices


I mean come on guys...as a scam operation you are not really trying your best imho

if they we're legit they'd send someone a miner to test....but from looking at their web site I'd be flabbergasted if
they did so..and that includes another companies miner with the logo changed...

as a scam site I give it only 1 star out of 5 stars...you are pulling down the other scammer sites with this weak attempt imho

they are just going thru the motions

quality where is the quality in your work ....(kids these days)

Searing

[RoadStress]

This is a thread about a new mining manufacturer called LSM Labs.

They have listed:

Pandora
3 TH/s ASIC Miner
$7,199 USD
Delivery by 21st May 2014

As well as other machines.

Obviously a scam! Their logo is familiar though, but i can't recall from where.
Shipping on 21 is a big lie. If they were shipping on 21 why there are only 3d renders on the site? They must have at least the chips in hand by now. BIG SCAM!

[southerngentuk]

I always find it amazing when new people find a new site selling questionable product.

Que LSM Lab rep to enter thread to assure there legit in ....

10...9.....8....7.......

[Zelek Uther]

Another fairly slick looking scam website.

Reasonable effort on the renders, but they are all obviously renders... no photos of anything.  But what's up with the HUGE rack ears, and the MASSIVE holes in them?  Looks so bizarre (https://lsm-labs.com/pandora).  It's almost as if the person who drew the renders has never seen a real rack-mount server.

Absolutely no details about the ASICs... they don't claim to have designed their own ASICs, and they don't say they use an existing ASIC.  Smells fishy.  If they said they used an existing ASIC, it would be easy to check with that manufacturer to see if "LSM Labs" had purchased any chips.  If they had details of their own ASIC, experts here on the forum would take them apart pretty quick because it's hard to fake that level of technical detail.  Maybe that's why they are side-stepping the issue?

I listened to the Media section, which is a 5 min audio segment claiming to be an interview with Forbes Asia.  Two guys with radio voices reading from a script, sounding a bit like a short infomercial.  Why not take an amateur phone-cam video of the miner hashing?  Show us the hashrate at a pool?

The money they spent setting up a web site and recording the scripted "interview" will be recouped by the first sucker to send pre-order money in.  Everything after that is gravy.  This sort of thing makes me sick.

[gdrake]

Thanks for your post.  My name is Garry Drake and I am the CEO of LSM Labs. In reply to the questions you have posed below:

1. Our domain registrant information is cloaked as this is the default option on the Namecheap checkout when purchasing domain names and its a free option for the first 12 months.  I myself was unaware that it was cloaked until you brought it to my attention and I have requested our web administrator to rectify the situation as fast as possible.

2. Whilst I can't speak for the escrow site we are using (www.vc-escrow.com), as I mentioned above, domain cloaking is a default option in many domains registrants.  We are the only mining company that is providing an escrow service to our customers and VC Escrow is the only escrow company that allows us to hedge the movement of Bitcoin prices throughout the time to delivery.  You have to remember that by putting funds into escrow before products are delivered potentially puts us at risk if the Bitcoin price drops within the delivery period.  By providing this 3rd party escrow service, we provide our customers with the assurance that their products will be delivered as we are not in control of the funds.   

3. Our head office is in Wilmington Delaware. I am not sure why this is generic.

4. We are incorporated in BVI for tax reasons, but our head office is in the US. We are completely transparent about our operations, we understand that delivery times are one of the greatest concerns for our customers and have provided customers with a delivery guarantee that they are able to receive a refund on their purchases or receive a further 20% discount if we are late on a delivery.

5. Our web designer has inadvertently used stock images as a placeholder for two of our staff as they were in the process of getting professional photos taken. We only just launched our new products and new website this week and I was not aware that this page had not been updated. We will update this page in due course.

We have only just started rolling out our products so we haven't had a chance to start promoting our products on Bitcoin Talk and other forums (you beat us to it). Anyhow, we have had many happy customers purchase our products and over the next few weeks the word will surely spread that we have the best miners in the industry and we deliver on time.

[xstr8guy]

Really?! Why waste time and energy with professional photos? You won't impress anyone in this community with glossy photos unless it's photos of your miners being assembled and hashing.

Another questionable "company" with no flippin' clue.   

[bclcjunkie]

it's all bs until you prove to us all by using escrow with bitcointalk mods... vc-escrow.com looks as shady as your website...

Thanks for your post.  My name is Garry Drake and I am the CEO of LSM Labs. In reply to the questions you have posed below:

1. Our domain registrant information is cloaked as this is the default option on the Namecheap checkout when purchasing domain names and its a free option for the first 12 months.  I myself was unaware that it was cloaked until you brought it to my attention and I have requested our web administrator to rectify the situation as fast as possible.

2. Whilst I can't speak for the escrow site we are using (www.vc-escrow.com), as I mentioned above, domain cloaking is a default option in many domains registrants.  We are the only mining company that is providing an escrow service to our customers and VC Escrow is the only escrow company that allows us to hedge the movement of Bitcoin prices throughout the time to delivery.  You have to remember that by putting funds into escrow before products are delivered potentially puts us at risk if the Bitcoin price drops within the delivery period.  By providing this 3rd party escrow service, we provide our customers with the assurance that their products will be delivered as we are not in control of the funds.   

3. Our head office is in Wilmington Delaware. I am not sure why this is generic.

4. We are incorporated in BVI for tax reasons, but our head office is in the US. We are completely transparent about our operations, we understand that delivery times are one of the greatest concerns for our customers and have provided customers with a delivery guarantee that they are able to receive a refund on their purchases or receive a further 20% discount if we are late on a delivery.

5. Our web designer has inadvertently used stock images as a placeholder for two of our staff as they were in the process of getting professional photos taken. We only just launched our new products and new website this week and I was not aware that this page had not been updated. We will update this page in due course.

We have only just started rolling out our products so we haven't had a chance to start promoting our products on Bitcoin Talk and other forums (you beat us to it). Anyhow, we have had many happy customers purchase our products and over the next few weeks the word will surely spread that we have the best miners in the industry and we deliver on time.

[wanna4fun]

pics, vids, review by dogie (to quote only him) and i will look further

[Phinnaeus Gage]

This is a thread about a new mining manufacturer called LSM Labs.

They have listed:

Pandora
3 TH/s ASIC Miner
$7,199 USD
Delivery by 21st May 2014

As well as other machines.

Obviously a scam! Their logo is familiar though, but i can't recall from where.
Shipping on 21 is a big lie. If they were shipping on 21 why there are only 3d renders on the site? They must have at least the chips in hand by now. BIG SCAM!

I recognized the logo right away, and even the FedEx trucks: http://www.americansecurityadvisersllc.com/

Also:

Prakash Goya
Senior Engineer at LSM Labs
Greater Philadelphia Area | Computer Hardware
Current: Senior Engineer at LSM Labs Past: Engineer at Rockwell Collins, Associate Engineer at Texas Instruments Education: Georgia Institute of Technology Summary:I have had over 8 years of engineering experience working for Rockwell Collins and Texas Instruments where I gained vast experience in the design...

Add it all up and it spells AMT/Joshua Zipkin.

https://www.linkedin.com/profile/view?id=321507393&authType=name&authToken=MW7Q&trk=prof-sb-browse_map-name

Senior Engineer
LSM Labs
May 2013 – Present (1 year)
I am currently a Senior Engineer at LSM Labs, a manufacturer of Bitcoin mining hardware equipment (Pandora, Medusa and Cyclops). Our ASIC miners are currently the most cost effective mining processors in the industry. LSM is aiming to become the world's leading producer of ASIC and CPU based mining equipment and is currently the only company that sells its mining equipment for under $3/GH.

Domain Name: LSM-LABS.COM
Registry Domain ID: 1840497926_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.enom.com
Registrar URL: www.enom.com
Updated Date: 2013-12-26 20:12:35Z
Creation Date: 2013-12-27 04:12:00Z
Registrar Registration Expiration Date: 2014-12-27 04:12:00Z
Registrar: ENOM, INC.
Registrar IANA ID: 48
Registrar Abuse Contact Email: abuse@enom.com
Registrar Abuse Contact Phone: +1.4252744500
Reseller: NAMECHEAP.COM
Domain Status: clientTransferProhibited
Registry Registrant ID:
Registrant Name: WHOISGUARD PROTECTED
Registrant Organization: WHOISGUARD, INC.
Registrant Street: P.O. BOX 0823-03411
Registrant City: PANAMA
Registrant State/Province: PANAMA
Registrant Postal Code: NA
Registrant Country: PA
Registrant Phone: +507.8365503
Registrant Phone Ext:
Registrant Fax: +51.17057182

[Phinnaeus Gage]

The exact same site can be found here: https://www.silkroadalternatives.com/faq-cn

Note the address:

Foshan City, Guangdong Province
, China C2-415 West Road, Chancheng quarter

   
support@lsm-labs.com

   
+1 (515) 412-4438

Now, I wonder how many millions of dollars I just save everybody.

[padrino]

Garry,

Mind if I come by your office later this week for a tour? I'll be in the area on business and should be able to slice out a few hours..

[Phinnaeus Gage]

Domain Name: LSM-LABS.COM
Registry Domain ID: 1840497926_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.enom.com
Registrar URL: www.enom.com
Updated Date: 2013-12-26 20:12:35Z
Creation Date: 2013-12-27 04:12:00Z
Registrar Registration Expiration Date: 2014-12-27 04:12:00Z
Registrar: ENOM, INC.
Registrar IANA ID: 48
Registrar Abuse Contact Email: abuse@enom.com
Registrar Abuse Contact Phone: +1.4252744500
Reseller: NAMECHEAP.COM
Domain Status: clientTransferProhibited
Registry Registrant ID:
Registrant Name: WHOISGUARD PROTECTED
Registrant Organization: WHOISGUARD, INC.
Registrant Street: P.O. BOX 0823-03411
Registrant City: PANAMA
Registrant State/Province: PANAMA
Registrant Postal Code: NA
Registrant Country: PA
Registrant Phone: +507.8365503
Registrant Phone Ext:
Registrant Fax: +51.17057182

Domain Name: VC-ESCROW.COM
Registry Domain ID: 1840497925_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.enom.com
Registrar URL: www.enom.com
Updated Date: 2013-12-26 20:12:35Z
Creation Date: 2013-12-27 04:12:00Z
Registrar Registration Expiration Date: 2014-12-27 04:12:00Z
Registrar: ENOM, INC.
Registrar IANA ID: 48
Registrar Abuse Contact Email: abuse@enom.com
Registrar Abuse Contact Phone: +1.4252744500
Reseller: NAMECHEAP.COM
Domain Status: ok
Registry Registrant ID:
Registrant Name: WHOISGUARD PROTECTED
Registrant Organization: WHOISGUARD, INC.
Registrant Street: P.O. BOX 0823-03411
Registrant City: PANAMA
Registrant State/Province: PANAMA
Registrant Postal Code: NA
Registrant Country: PA
Registrant Phone: +507.8365503
Registrant Phone Ext:
Registrant Fax: +51.17057182
Registrant Fax Ext:
Registrant Email: 6EE60773B0434F68BBDA8C9DF0897A0A.PROTECT@WHOISGUARD.COM
Registry Admin ID:
Admin Name: WHOISGUARD PROTECTED
Admin Organization: WHOISGUARD, INC.
Admin Street: P.O. BOX 0823-03411
Admin City: PANAMA
Admin State/Province: PANAMA
Admin Postal Code: NA
Admin Country: PA
Admin Phone: +507.8365503
Admin Phone Ext:
Admin Fax: +51.17057182

Any person who sends these fucks a single satoshi is so fucked in the head that they deserve to have their money stolen.

[Phinnaeus Gage]

http://domain-kb.com/www/lsm-labs.com

lsm-labs.com has been registered on 12/27/2013.

The main IP address of lsm-labs.com is 192.31.186.29. Find all domains with IP address 192.31.186.29.

Get a full list of lsm-labs.com DNS records on dnstoolkit.net.

Data about lsm-labs.com was last updated on 2013-12-28 12:55:57

http://domain-kb.com/www/vc-escrow.com

vc-escrow.com has been registered on 12/27/2013.

The main IP address of vc-escrow.com is 192.31.186.29. Find all domains with IP address 192.31.186.29.

Get a full list of vc-escrow.com DNS records on dnstoolkit.net.

Data about vc-escrow.com was last updated on 2013-12-28 12:56:13

This really pisses me off! These scamming fucks don't even try anymore.

[Phinnaeus Gage]

04/18/2014: http://www.sbwire.com/press-releases/lsm-labs-offers-affordable-bitcoin-mining-and-litecoin-mining-asics-with-delivery-guarantee-495213.htm

Despite the recent introduction of its new batch of ASICs, the company has already sold out one of its product lines, the Cyclops 600 GH/s. Priced at $3,333 the Cyclops 600 GH/s was one of the most affordable ASICs available in the industry and its superior performance has been compared to many systems that are far more costlier. Now available is the ASIC miner Medusa 1.2 TH/s priced at a competitive rate of $3,199. The Pandora 3 TH/s is also available and is LSM Lab’s best Bitcoin mining product as far as performance is concerned providing 3 T/H at an affordable price of $7,199. This Bitcoin miner is assured to meet mining expectations.

"Fucked again! Guess I have to order the 1.2 TH/s rig now."

[pmorici]

The fact that they list a bunch of media outlets as having written about them on their front page yet they provide no links to any of the supposed mentions and they have a supposed interview with Forbes Asia hosted on their own site pretty much confirms that this is a 100% scam.  Googling for LSM labs also turns up no results from these media outlets that have supposedly written about them.