XBTec Announce. New ASIC manufacturer.

[dogie]

If no one has a shipping number or proof that these are even in production, then after the 15th, you should definitely hit up Jimmothy for your payday.   

It is more than obvious, that XBTec have not got anything to show yet. Even if they ship "something", they will have to pull that out of their arses. No chance they have a working unit now, otherwise they would at least post some video.

So, if they do not have the production of their miners in some kind of a parallel reality, there are ZERO chances, that they can keep their promises.

I want to see, what jimmothy has to say about this.

P.S. Popcorn time 

I dont think the bet had a clause about total non shipment. They didn't beat or exceed power consumption, there was a no contest. I think both parties should either agree to cancel the bet, or if they can't agree, continue to wait. I will try and get an update.

[jimmothy]

If they turn out to be a scam or similar (don't think they took preorders so I'm not sure who could get scammed) then I'll consider myself the loser even though catastrophic failure was not included in the bet.

That being said I still want to give them a bit more time because a ~1 month delay is still perfectly normal for hardware development.

I'd say giving them 1 more month would be fair.

[jimmothy]

If they turn out to be a scam or similar (don't think they took preorders so I'm not sure who could get scammed) then I'll consider myself the loser even though catastrophic failure was not included in the bet.

That being said I still want to give them a bit more time because a ~1 month delay is still perfectly normal for hardware development.

I'd say giving them 1 more month would be fair.

This mentality needs to change. No, it is not 'perfectly normal' for a month delay.

It's normal for a business to do proper planning and expect the unexpected. Not to literally copy & paste what 20 companies before you have been doing. They still have not even updated their OP.

Yes, delays/unexpected issues in hardware development are incredibly common which is why I'd imagine you don't see hardware preorders anywhere other than in the bitcoin world.

The reason it is completely acceptable is because they did not take preorders and/or make guarantees.

They could be 2 years late for all I care as long as they are not holding anyones money hostage.

[dogie]

If they turn out to be a scam or similar (don't think they took preorders so I'm not sure who could get scammed) then I'll consider myself the loser even though catastrophic failure was not included in the bet.

That being said I still want to give them a bit more time because a ~1 month delay is still perfectly normal for hardware development.

I'd say giving them 1 more month would be fair.

This mentality needs to change. No, it is not 'perfectly normal' for a month delay.

It's normal for a business to do proper planning and expect the unexpected. Not to literally copy & paste what 20 companies before you have been doing. They still have not even updated their OP.

Yes, delays/unexpected issues in hardware development are incredibly common which is why I'd imagine you don't see hardware preorders anywhere other than in the bitcoin world.

The reason it is completely acceptable is because they did not take preorders and/or make guarantees.

They could be 2 years late for all I care as long as they are not holding anyones money hostage.

It's just getting old and annoying when we see a company someone post about a new chip/miner and put up actual dates of shipping when in reality this is all coming out of their ***. That's where I have a problem. They could have just not posted this thread to begin with and nothing would have changed. They are still nowhere to be found, no progress etc. "Why even make this thread?" I guess is my point I'm trying to make. Meh, like you said, as long as no money is tied up it's all moot.

They had a miner. It wasn't perfect, it was okay. It competed with the competition, but they wanted better. That's not 'coming out of their ass', that's wanting better (and having a reasonably easy fix).

What do you have to show us?

[dogie]

What do you have to show us?

I'm not claiming to be a bitcoin asic manufacturer, am I, dogie? 

Everything I say I'm going to do, I do.

You're claiming they had nothing, they do have something.

[tzortz]

Where is the something?
You mean , the picture with the magazine?

None of them XBTec guys reply to our messages anymore.
Also, there are no updates about their progress or any estimated delivery time.

If they don't deliver then you lose Jimmothy. It is quite obvious.

Okay lets wait another month, until 15 of August,

[BitsBitsBits]

XBTec seem like they are really busy lately. Not coming online for a couple days/only making a few posts.

I really hope they get on their feet and start showing what they have accomplished. I wish them good luck.

[DjPxH]

I really was watching this company as it seemed as if they had cracked asicminer's efficiency problems, but it doesn't look good. I don't know if jimmothy's bet would default to 'lost' if they didn't produce a miner. but he takes it like an honorable person!

[tzortz]

Of course he is lost as soon as he claims that they will PRODUCE an efficient miner.

How can you claim, and insist, and bet, that is a successful manufacturer with low energy consumption gear when he is finally a scam?

It is more than obvious.

[FUR11]

Of course he is lost as soon as he claims that they will PRODUCE an efficient miner.

How can you claim, and insist, and bet, that is a successful manufacturer with low energy consumption gear when he is finally a scam?

It is more than obvious.

Well, don't be so hasty... Hanlon's Razor: Never attribute something to malice that can equally well explained by stupidity or incompetence. They never took anyone's money, so I fail to see how this is a scam!

[psahx]

Well, don't be so hasty... Hanlon's Razor: Never attribute something to malice that can equally well explained by stupidity or incompetence. They never took anyone's money, so I fail to see how this is a scam!

You are wrong. They took pre-orders on their Russian page. I doubt any of their Russian customers have received anything.

You state, you DO NOT ACCEPT PRE-ORDERS, right?

How come, that on your Russian webpage, you are offering pre-orders for ASICMINER Gen3 (2 Thash/second), with option to deliver on/before July 20 for $2800 and on/before June 30 for $3400?

Forgot to mention, you have already sold-out a pre-order for 150 pcs, June 17 delivery.

http://www.xbtec.ru/goods-view/asicminer-gen3-2-thash-second

Russian market is Russian. We have good relations with Russian-speaking community.
Moreover we have few anchor investors, who has invested our team, therefore 150psc has been sold out.
So, for now we do not take pre-orders.
Approximately Friday we have to say final price. We are forecasting to give price for July batch about 2800$, but for now it is just estimate value.

Please, have a read carefully the first post of this topic and wait for a Friday.

Sincerely, XBTec Team

[tzortz]

Right , I forgot about that.

They said that had sold out the 150pcs.

[DjPxH]

Well, don't be so hasty... Hanlon's Razor: Never attribute something to malice that can equally well explained by stupidity or incompetence. They never took anyone's money, so I fail to see how this is a scam!

You are wrong. They took pre-orders on their Russian page. I doubt any of their Russian customers have received anything.

You state, you DO NOT ACCEPT PRE-ORDERS, right?

How come, that on your Russian webpage, you are offering pre-orders for ASICMINER Gen3 (2 Thash/second), with option to deliver on/before July 20 for $2800 and on/before June 30 for $3400?

Forgot to mention, you have already sold-out a pre-order for 150 pcs, June 17 delivery.

http://www.xbtec.ru/goods-view/asicminer-gen3-2-thash-second

Russian market is Russian. We have good relations with Russian-speaking community.
Moreover we have few anchor investors, who has invested our team, therefore 150psc has been sold out.
So, for now we do not take pre-orders.
Approximately Friday we have to say final price. We are forecasting to give price for July batch about 2800$, but for now it is just estimate value.

Please, have a read carefully the first post of this topic and wait for a Friday.

Sincerely, XBTec Team

Ah really? Yeah I guess you're right. But haven't those been some bold investors that were okay with taking a bigger risk? Aw, snap, anyways this is bad for them. I guess this time some Russians got scammed. Cue the Soviet Russia jokes...

[tzortz]

Although, our bet was not if they were scams or not, but if they will PRODUCE an efficient miner.

Looks like that they will never produce anything, hence no efficiency.
It is a far worse scenario than producing an inefficient hardware.

I could not find a reason that Jim is not lost.

[minerpumpkin]

Although, our bet was not if they were scams or not, but if they will PRODUCE an efficient miner.

Looks like that they will never produce anything, hence no efficiency.
It is a far worse scenario than producing an inefficient hardware.

I could not find a reason that Jim is not lost.

Yup, I'd say chances are 75% that this thing is dead in the water and 25% that they may produce some miner that may or may not meet the advertised specs but it's doubtful if it is worth the money by then.

[jimmothy]

http://www.xbtec.ru/news/zapushhen-nash-data-tsentr-v-shenchzhene-kitaj

[hdbuck]

Although, our bet was not if they were scams or not, but if they will PRODUCE an efficient miner.

Looks like that they will never produce anything, hence no efficiency.
It is a far worse scenario than producing an inefficient hardware.

I could not find a reason that Jim is not lost.

Yup, I'd say chances are 75% that this thing is dead in the water and 25% that they may produce some miner that may or may not meet the advertised specs but it's doubtful if it is worth the money by then.

http://www.xbtec.ru/news/zapushhen-nash-data-tsentr-v-shenchzhene-kitaj

[tzortz]

 

[psahx]

LOL

So what, they got set up some mining farm for themselves, with some dragon miners... Did they ship the pre-orders to the Russian customers? Did they ship the test unit to Dogie? Anyone with enough money can open a mining farm in Shenzhen...

Effin' ridiculous...

[jimmothy]

So what, they got set up some mining farm for themselves, with some dragon miners.

They are not dragon miners.

They also said in the first post of this thread that they will be building a massive datacenter. Not sure what you are surprised about.