Novello Technologies new Mining System Project, prices as low as $0.3/GH

[novello]

I dig around your post about VAT and Limited company.

Ok, so in UK to become VAT registered company you can call number and tada! DONE
To become Limited company is even less hassle than CIS card for simple simon from construction site.

Please let me know if you asics will look and work like your website? Because even steve wonder would create better site with wordpress and free templates singin https://www.youtube.com/watch?v=b2WzocbSd2w#t=8 once all finished.

Come on guys give us real proof this is not a joke.

We don't have any asic's at present, thats what the funding is for. The website isn't pretty, but we never actually intended to get it up until nest week. Considering the number of people who have come on these forums trying to take your money with whizz bang websites, our's should come as a refreshing change. Why don't you read through the plan? There's a lot of information in there which I'm sure you'll enjoy reading.

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[Syke]

We have nothing to hide

Then come clean. Who the hell are you?

This is what a real company with real people looks like:

http://www.spondoolies-tech.com/pages/team

[Unacceptable]

Well,mining at home will be dead VERY soon.With power costing me .13 cents per kwh,I've already sold my 1 TH in Antminers.

I saw the end coming & sold my miners while I could get a decent amount for them,had I waited another month or so their cash value will have decreased by a significant amount.

Sooo,unless BTC hits $700-$1000+ & STAYS there,I personally don't see it staying at those prices for very long,NO miner is worth it at ANY price.

Even if it does,we already are knocking on the 100PH door & its early June,150 looks easy to hit by Sept & 200 by years end or shortly thereafter,so the diff is going kill any at home mining projects.

I wish you the best of luck & will be watching,but you may as well just make miners for datacenters,they will control network very soon............ 

[novello]

Nice generic names. So who are you, really? Facebook, LinkedIn, anything? Are you an cutives/038283.htm]EVP of Oracle? Are you a dead heavy metal drummer? Are you a basketball player?

+1 !!

Hi Novello - please let us know:
1) You state that your miners will be covered by 2y warranty YES/NO?
2) You state that your team have extensive exp. but fail to introduce key people in your team - I do not need CVs, but as all here said, what is your exp. in related fields - at least business & tech fields (any previous successful businesses /or relevant employers) ? Even significantly smaller projects on IGG care to introduce their teams shortly...
3) You go for 4 mil USD IGG campaign & said there, that you expect to need at least 1mil for chip R&D - yet you go for flexible funding option on IGG - which means you will take whatever money raised - what will you do, when you have not raised targeted 4 mil ? Will you close business ? Or do you have some risk management plan for this ? And what about your customers - will you refund them ? Whats the plan here ? Did not see it on your campaign page...
4) Last one - will you offer full refund, if you are not able to start delivery by late December ? Will you commit to this or offer any other compensation ? Again not a word about it in your post or on IGG campaign page. 

Thank you very much in advance for honest reply and good luck with your IGG campaign!

Thanks for your very pertinent post, I'm please to answer what i can at present:

1. Yes, warranty is 2 years. If you look at the section about the chip, you'll see that our design spec is for maximum die temperature of
    75C. That should ensure the chips have a long lifetime.

2. Please see our earlier post about this. Our engineers have extensive experience in mil/aero systems design and in industrial control, to    
    name but a few. Problem is, you can never really trust what people say about themselves online, can you? We expect people to look at
    our whole proposal, not just one bit. It's not all about the chips, this is a carefully thought out and structured plan.

3. We have set a target on IGG to show what need to do the job properly. We are trying to source funds from other avenues to supplement
    this, including funds of our own. It won't come as any surprise to anyone that's read our plan that we have worked out several options if
    we don't reach our target. Before we did anything including drawing down the IGG funds - we don't get funds until after the campaign
     ends -  we'd go to our customers with these different plans and ask their approval to proceed. If they say no, then we don't take the
    money, simple as that.

4, We have targeted delivery for the end of December as you say. Naturally as engineers we have built in some padding in our timescales
    to allow for the inevitable problems that will appear. We will keep our contributors and other customer fully informed about what we
    are doing, good and bad, just as we did in our plan, but if there was going to be a substantial delay then we would give customers an
    option to cancel and get their full payments back.

If you would like any further information, please feel free to ask or email us directly.

[novello]

We have nothing to hide

Then come clean. Who the hell are you?

This is what a real company with real people looks like:

http://www.spondoolies-tech.com/pages/team

[/quote}

We've answered this already. If you don't like what you read, then don't buy from us, simple as that.

By the way, how long have you been working for Spondoolies?

[Syke]

We've answered this already. If you don't like what you read, then don't buy from us, simple as that.

By the way, how long have you been working for Spondoolies?

You want people to give you millions of dollars, yet you want to remain anonymous. You'll never reach your funding level on Indigogo. But good for you, you selected the "Flexible Funding" option, so that you get all the money no matter what. The perfect scam.

Public Service Announcement

This "company" will fail. They do not have the funding, nor the expertise, to make it to a final product. Invest only what money you want to lose. They will never deliver a miner.

[novello]

Well,mining at home will be dead VERY soon.With power costing me .13 cents per kwh,I've already sold my 1 TH in Antminers.

I saw the end coming & sold my miners while I could get a decent amount for them,had I waited another month or so their cash value will have decreased by a significant amount.

Sooo,unless BTC hits $700-$1000+ & STAYS there,I personally don't see it staying at those prices for very long,NO miner is worth it at ANY price.

Even if it does,we already are knocking on the 100PH door & its early June,150 looks easy to hit by Sept & 200 by years end or shortly thereafter,so the diff is going kill any at home mining projects.

I wish you the best of luck & will be watching,but you may as well just make miners for datacenters,they will control network very soon............ 

Dear me, that's a very pessimistic attitude, If you look at our plan, we predict a network hash rate of 280PH by December...our systems will still be very viable at that time, please look at the section about 'Jane', our typical citizen from Colorado who pays about the same you do for electricity. Look at the prediction we made for her earnings using our Guaranteed Supply Program, it was based on BTC at $500, not $600 or $700. Jane would make over $2200 off her miner plus the upgrades in 2015, even when the network hash rate hits 500+PH by the end of 2015.

So please look at the plan again. Thanks for your good wishes, please keep watching our project, if you would like to be added to our
e-mailing list, drop us a line.

[novello]

We've answered this already. If you don't like what you read, then don't buy from us, simple as that.

By the way, how long have you been working for Spondoolies?

You want people to give you millions of dollars, yet you want to remain anonymous. You'll never reach your funding level on Indigogo. But good for you, you selected the "Flexible Funding" option, so that you get all the money no matter what. The perfect scam.

Public Service Announcement

This "company" will fail. They do not have the funding, nor the expertise, to make it to a final product. Invest only what money you want to lose. They will never deliver a miner.

There is nothing anonymous about the company or it's director.

But thanks for answering our question, good to know you've got something to keep you occupied.

[Unacceptable]

Well,mining at home will be dead VERY soon.With power costing me .13 cents per kwh,I've already sold my 1 TH in Antminers.

I saw the end coming & sold my miners while I could get a decent amount for them,had I waited another month or so their cash value will have decreased by a significant amount.

Sooo,unless BTC hits $700-$1000+ & STAYS there,I personally don't see it staying at those prices for very long,NO miner is worth it at ANY price.

Even if it does,we already are knocking on the 100PH door & its early June,150 looks easy to hit by Sept & 200 by years end or shortly thereafter,so the diff is going kill any at home mining projects.

I wish you the best of luck & will be watching,but you may as well just make miners for datacenters,they will control network very soon............ 

Dear me, that's a very pessimistic attitude, If you look at our plan, we predict a network hash rate of 280PH by December...our systems will still be very viable at that time, please look at the section about 'Jane', our typical citizen from Colorado who pays about the same you do for electricity. Look at the prediction we made for her earnings using our Guaranteed Supply Program, it was based on BTC at $500, not $600 or $700. Jane would make over $2200 off her miner plus the upgrades in 2015, even when the network hash rate hits 500+PH by the end of 2015.

So please look at the plan again. Thanks for your good wishes, please keep watching our project, if you would like to be added to our
e-mailing list, drop us a line.

Well.lets see....I've been mining since June 2011 & started with $1000 in vid cards & PC parts & made out very well.Well enough to upgrade with my earnings until now....the cost of miners & power consumption is what has turned me to altcoins,those will be hit with diff rises soon too, but with many coins to choose it'll be easier to keep going.Not to mention considerable reduction in power consumption & lower cost of miners.

I read your plan & IF you keep your prices low & IF you deliver,it MAY work.I personally can't chance it.December is a long time to wait for a return,if it works...........

I've been unemployed due to our wonderful bank & wallstreet greed & our gov's failure to get the economy rolling & inflation under control.So my personal earnings are not going to feed the miner makers.

Yes I am a pessimist,you would be too if you were in my shoes.....

30 years of construction & service industry work(HVAC install,service/Electrician/Plumber/Carpentry/Roofer/Painter) that is worthless here in Fla..............

[s1lverbox]

I dig around your post about VAT and Limited company.

Ok, so in UK to become VAT registered company you can call number and tada! DONE
To become Limited company is even less hassle than CIS card for simple simon from construction site.

Please let me know if you asics will look and work like your website? Because even steve wonder would create better site with wordpress and free templates singin https://www.youtube.com/watch?v=b2WzocbSd2w#t=8 once all finished.

Come on guys give us real proof this is not a joke.

We don't have any asic's at present, thats what the funding is for. The website isn't pretty, but we never actually intended to get it up until nest week. Considering the number of people who have come on these forums trying to take your money with whizz bang websites, our's should come as a refreshing change. Why don't you read through the plan? There's a lot of information in there which I'm sure you'll enjoy reading.

Ohh, that's nice fresh breeze of air. Shitty website and shit loads to read. But only on paper, nothing more nothing less.
Approach is funny.
In this business especially here you will fail. You asking people like me for money, users who have knowledge asking for stuff and you cannot deliver simple answer.
I made myself clear and showed you that what you did wrote about VAT and limited company is bullshit. Yet still no response. You rather keep ignoring answer than face them and show us who is who.

I never see approach like yours: create shitty site with logo made by 5 year old, tell people this is new era of asics, ask for money with nothing more than just idea.

[psahx]

I dig around your post about VAT and Limited company.

Ok, so in UK to become VAT registered company you can call number and tada! DONE
To become Limited company is even less hassle than CIS card for simple simon from construction site.

Please let me know if you asics will look and work like your website? Because even steve wonder would create better site with wordpress and free templates singin https://www.youtube.com/watch?v=b2WzocbSd2w#t=8 once all finished.

Come on guys give us real proof this is not a joke.

Thanks Silver,

You made my day with wordpress and steve wonder example. Right in the bull-eye!

[sidehack]

Why present the project here when you could do it to some VC firms?

Just happened to drop in, not shilling for anyone but I'd rather see directly funded or crowdsourced stuff than venture capital. It's a lot less conceptually soul-sucking to have the actual customer give you money to build them stuff, than some jerkoff with money to burn on pet companies. Just throwing that out there.

[jimmothy]

Why present the project here when you could do it to some VC firms?

Just happened to drop in, not shilling for anyone but I'd rather see directly funded or crowdsourced stuff than venture capital. It's a lot less conceptually soul-sucking to have the actual customer give you money to build them stuff, than some jerkoff with money to burn on pet companies. Just throwing that out there.

You're joking right?

You'd rather have naive bitcoin noobs fund this project, taking on massive risk, for very little reward if any at all?

Funding via VC firms is the only way to go because those "rich jerkoffs" have money to burn/risk along with the basic knowledge/common sense to not get scammed.

Let's stop supporting preorders/crowdfunding because it always ends in the "customer" getting screwed.

[Syke]

There is nothing anonymous about the company or it's director.

Then prove it. Prove you have the skills necessary to design and implement an actual miner. Most other teams, with far more experience than you, have tried and failed. What ASICs have you designed that are larger and more power hungry than a bitcoin ASIC? Exactly what part of the design did you do? What PCBs that deliver hundreds of amps have you designed?

[bbxx]

next ken slaughter? or labcoin team?
amt?

wall of well crafted text and 0 technical answers.

summer 2013 bullshit preorder times are ended

sorry you are late for the party, now only whales can play this game

crumbs from community are out of your range too

so please delete your fresh account, forget about this forum and start creating roulette guides with refferar links.

you and your dreams/ideas/wasted time means nothing here.

sorry.

[brian_23452]

tl;dr version:

We need money to fund out company.  We want YOU to take all of the risk, and pay all of the costs.  Meanwhile, WE will retain complete control of the company and earn the lion's share of the profits.

I'm only going to touch on a few things real quick:

"That’s all fine and well but the large amounts of money needed to develop new asic products make it all but impossible for individuals to fund."

This is NOT true.  Virtually every company, in virtually every industry, somehow manages to come up with a working product BEFORE asking the consumer to pay for it.  Imagine if you went to buy a new car and the guy wanted 30k up front and 2 years to design the thing and then build it!  Or if you called a doctor and told him you wanted to become a patient and he asked for the money up front and said he'll get back to you once he gets a few hundred other patients and goes to med school.  Etc Etc.  

Here's the thing.  If you have a viable business model you CAN get the money.  There are many MANY ways you can get funding, in point of fact that is what I do professionally.  Yet you balk at this because these methods will eat into your profits, or force you to cede at least some control of the company.  Well of course they do!  If you want someone else to take on all the risk and pay for your project it is only natural they THEY not YOU will be in charge, and THEY not YOU will get the lion's share of the profits.   Naturally you don't want to do that, you want to have your cake and eat it too.  You want someone else to pay for the business, but keep all the profits for yourself.   Your company doesn't have to be a scam for this to be a shitty deal to the consumer.  I can believe every word you say, and believe you to be 100 percent legit.  And it is STILL a shitty deal for the consumer.

[Easy2Mine]

The driving force behind Novello is a group of professional engineers based in the UK with over 120 years combined experience in the design and manufacture of complex, highly reliable electronic systems and devices.

Best team untill now, if the 120 years combined is true.
Any team with that much experience will get a loan from the bank.

[RoadStress]

There is nothing anonymous about the company or it's director.

But thanks for answering our question, good to know you've got something to keep you occupied.

Ok we know the director. Please share with us the rest of the team. I'm assuming that the director isn't handling all the stuff. Who is your HW director? Who is your SW director? Who is your marketing/sales guy? Who is your chain-supply guy? And so on. You seem to fail to answer straight simple questions. Even if they are in the documents (which they aren't) it only takes you 1 minute to write a couple of names. You were pointed to 3 other companies who have their team available on their website. You got nothing. So either show us the whole team or this will be just another fail/scamming company.

[novello]

The driving force behind Novello is a group of professional engineers based in the UK with over 120 years combined experience in the design and manufacture of complex, highly reliable electronic systems and devices.

Best team untill now, if the 120 years combined is true.
Any team with that much experience will get a loan from the bank.

If you approach a bank for a loan, they measure your creditworthiness on what security you can offer. Your experience is only one of the 'risk' factors they consider, but ultimately they want a means of getting at least some of their money back if you fail. That's the bottom line in the UK, it might be different elsewhere.

A VC company is totally different. They do consider your background and experience and consider it essential if the project is to fly. However, they can place constraints on what you do, and of the 3 that we approached, 2 offered funding but their constraint was that the asic would only be used in-house; no sales to Joe Public, no design bureau to help start ups. No from us.

[novello]

next ken slaughter? or labcoin team?
amt?

wall of well crafted text and 0 technical answers.

summer 2013 bullshit preorder times are ended

sorry you are late for the party, now only whales can play this game

crumbs from community are out of your range too

so please delete your fresh account, forget about this forum and start creating roulette guides with refferar links.

you and your dreams/ideas/wasted time means nothing here.

sorry.

Well, thanks for the compliment on our proposal. Nice to know that you at least read it, but it would be helpful to get some detailed feedback as to what you think is missing technically?