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

[novello]

Is this the next big scam company after Black Arrow?

Who's Black Arrow?

You are a "british" company (LTD) and don't know your "british" competitors like Black Arrow LTD?

I was only kidding - but LTD companies come from many jurisdictions apart from the UK. Old colonial habits die hard.

[s1lverbox]

Looks like a scam.

Everyone is entitled to their opinion, but I'd point out to you that to get VAT registration in the UK the company, directors and their bank account have to go through some very tight security and identity checks.

sorry op but this is bulshit. anyone who are making more than few quid a year can jump on vat and registration  is not difficult at all.
As stated before in forum Ltd company these days means nothing.  just limited liability for you. personal I can chase your person to recover lost money but who will care to put more money upfront to chase you in case something will go wrong?

pre order are nonsense from definition . people are tired paying for non existence gear. basically you don't want to go to bank, put your house as security for large loan and make prototype this way.
once prototype will exist comeback here show it's working and ask for btc. This field is full of scams and trust me you will get bold quickly when people will grill you over few inconsistency.

Interesting post. I don't have a house worth anywhere near $400k let alone $4M, so asking a bank to take it as security isn't an option. If anyone did have the money to make their own asic without outside help, then I sincerely doubt they'd be posting on here looking for sales, they'd be mining away with them. Most of todays miners made their money through pre-orders, so I'd have to disagree with much of what you say. At the end of the day no one forces anyone to pre order anything, it's up to the individual to make the choice.

maybe as individual you haven't got 4m to put upfront. but as a team easy you can secure loan. look for bigger investors instead asking small people to hand over you btc for wages, and who knows what else.  one more thing: when newbie start answering by "we not here to scam anyone..." this smells even more fishy.

again I found you mention something g which is wrong. not most if the company's made a sics from pre orders
it was like that when BFL and other scams was there. This days we have bitmain...never asked for btc to build units, spoondolis...again not even penny to show working units. only wannabe asking for pre orders this days
 and one more thing. In btc world once you will have working unit will become obsolete very soon .you will not be different than others. You will mine with gear like crazy and when it will become useless you will flush this on buyers. as I said you not he first one and not he last one who will have difficulty to convince typical miner like me.

good luck though

[btcminer84]

...

First things first though – here’s what you really need to know about the project:

The Headlines

-   ...
-   This is a pre-order project, there are staged payment options

...

Pre-Order. I'm out.

[novello]

...

First things first though – here’s what you really need to know about the project:

The Headlines

-   ...
-   This is a pre-order project, there are staged payment options

...

Pre-Order. I'm out.

Ok, but thanks for your interest anyway. If we do get funded and get our systems built don't be shy in coming to us for your future mining requirements.

[jimmothy]

If you'd read the text then you would have clearly seen two names mentioned. You can also see the Indiegogo page and who's leading the project, so I suspect you may ave simply skimmed over it.
.
Now, if you really think that we're going to present detailed CV's to a poster on a forum that hides behind a username, then that's simply not going to happen, If you want an engineering or financial discussion, then we'll gladly have one.

You don't really think we are going to trust millions of dollars to a "marketing professional" and "Technical Manager" right?

You don't need to present a detailed CV to give us a name of your HW/FW/SW engineer and what experience they have.

Also your claims sound like BS. I suppose you don't have a shred of evidence to support them?

[novello]

Looks like a scam.

Everyone is entitled to their opinion, but I'd point out to you that to get VAT registration in the UK the company, directors and their bank account have to go through some very tight security and identity checks.

sorry op but this is bulshit. anyone who are making more than few quid a year can jump on vat and registration  is not difficult at all.
As stated before in forum Ltd company these days means nothing.  just limited liability for you. personal I can chase your person to recover lost money but who will care to put more money upfront to chase you in case something will go wrong?

pre order are nonsense from definition . people are tired paying for non existence gear. basically you don't want to go to bank, put your house as security for large loan and make prototype this way.
once prototype will exist comeback here show it's working and ask for btc. This field is full of scams and trust me you will get bold quickly when people will grill you over few inconsistency.

Interesting post. I don't have a house worth anywhere near $400k let alone $4M, so asking a bank to take it as security isn't an option. If anyone did have the money to make their own asic without outside help, then I sincerely doubt they'd be posting on here looking for sales, they'd be mining away with them. Most of todays miners made their money through pre-orders, so I'd have to disagree with much of what you say. At the end of the day no one forces anyone to pre order anything, it's up to the individual to make the choice.

maybe as individual you haven't got 4m to put upfront. but as a team easy you can secure loan. look for bigger investors instead asking small people to hand over you btc for wages, and who knows what else.  one more thing: when newbie start answering by "we not here to scam anyone..." this smells even more fishy.

again I found you mention something g which is wrong. not most if the company's made a sics from pre orders
it was like that when BFL and other scams was there. This days we have bitmain...never asked for btc to build units, spoondolis...again not even penny to show working units. only wannabe asking for pre orders this days
 and one more thing. In btc world once you will have working unit will become obsolete very soon .you will not be different than others. You will mine with gear like crazy and when it will become useless you will flush this on buyers. as I said you not he first one and not he last one who will have difficulty to convince typical miner like me.

good luck though

Thanks for your good wishes. Hopefully we'll be given the opportunity to prove that we can deliver what we say. The only other thing I'd say is that we have designed our systems with obsolecense in mind, that's why they're modular.

[Majixagi]

Is this the next big scam company after Black Arrow?

Can't be. Jimmothy isn't on board:

Looks like a scam.

Will be watching for now.

[novello]

If you'd read the text then you would have clearly seen two names mentioned. You can also see the Indiegogo page and who's leading the project, so I suspect you may ave simply skimmed over it.
.
Now, if you really think that we're going to present detailed CV's to a poster on a forum that hides behind a username, then that's simply not going to happen, If you want an engineering or financial discussion, then we'll gladly have one.

You don't really think we are going to trust millions of dollars to a "marketing professional" and "Technical Manager" right?

You don't need to present a detailed CV to give us a name of your HW/FW/SW engineer and what experience they have.

Also your claims sound like BS. I suppose you don't have a shred of evidence to support them?

Yes we have, but even if we were inclined to hand details of our chip design over to someone that hides behind a username, I sincerely doubt you would understand them, Try reading the books we recommended, then come back and tell us why it's bullshit. if you have technical information to share that says were wrong, then show it. Don't include everybody in 'we' - you might not like what you read but others are free to make up their own minds.

[Syke]

If you'd read the text then you would have clearly seen two names mentioned. You can also see the Indiegogo page and who's leading the project, so I suspect you may ave simply skimmed over it.
.
Now, if you really think that we're going to present detailed CV's to a poster on a forum that hides behind a username, then that's simply not going to happen, If you want an engineering or financial discussion, then we'll gladly have one.

Beat this or go home:

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

[jimmothy]

Yes we have, but even if we were inclined to hand details of our chip design over to someone that hides behind a username, I sincerely doubt you would understand them, Try reading the books we recommended, then come back and tell us why it's bullshit. if you have technical information to share that says were wrong, then show it. Don't include everybody in 'we' - you might not like what you read but others are free to make up their own minds.

Would you really hand over proprietary details even if I had provided a name? Giving out the asic design is not the only way to give us evidence. Words and graphs are meaningless especially from a company with no reputation.

http://cointerra.com/team/

http://www.butterflylabs.com/management/

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

Those are examples of real companies with real employees.  Your website is honestly a joke.

There is no way I can prove your specs are imaginary. But I don't have to. You are the one who has to prove it if you want anyone other than clueless noobs to fund this project.

Btw if your specs are half as good as you claim, you should have no problem selling the design alone for more than $10,000,000 to one of the already existent asic manufacturers.

[2112]

our engineers have completed over 20 custom chip designs during their careers including ones for very high volume consumer electronics projects.

Battery-operated low-power consumer electronics aren't really relevant to mining hardware which is high-power application that pushes itself to the edge of death: either thermal from overclocking or starvation from undervolting.

We’re also making extensive use of analogue design techniques to minimise noise and reduce supply voltage – again saving power. Every transistor we save, shrink or optimise saves power, and overall this results in greater power efficiency.

Good. Analog and mixed-signal design flow is the way to go. Now please get back with your engineers and post some results of your preliminary simulations. E.g. which version of BSIM did you use? You could post some fragmentary results without disclosing the entire design.

This board has enough people that will understand such posts. And disclosing some technical data (even incomplete) will be the quickest way to distinguish you from all the previous scammers who only had marketroids at the ready and literally nobody to back them up on the technical front.

[novello]

our engineers have completed over 20 custom chip designs during their careers including ones for very high volume consumer electronics projects.

Battery-operated low-power consumer electronics aren't really relevant to mining hardware which is high-power application that pushes itself to the edge of death: either thermal from overclocking or starvation from undervolting.

We’re also making extensive use of analogue design techniques to minimise noise and reduce supply voltage – again saving power. Every transistor we save, shrink or optimise saves power, and overall this results in greater power efficiency.

Good. Analog and mixed-signal design flow is the way to go. Now please get back with your engineers and post some results of your preliminary simulations. E.g. which version of BSIM did you use? You could post some fragmentary results without disclosing the entire design.

This board has enough people that will understand such posts. And disclosing some technical data (even incomplete) will be the quickest way to distinguish you from all the previous scammers who only had marketroids at the ready and literally nobody to back them up on the technical front.

Not sure I understand what 'fragmentary results' you would like to see?

[2112]

Not sure I understand what 'fragmentary results' you would like to see?

It would be best for you if you've reviewed the posts from bitfury. It was his first ASIC and he went directly into full custom. See how he dealt with disbelievers. You can just read his English posts although his detractors were mostly posting in Russian and his responses were in Russian too.

Basically, we want to see that there is a real technical depth in your organization. What we don't want to see is another Cointerra, where the "dream team" was really part-timers that quickly disassociated themselves from the CEO and the only technical person left was some German guy on a temporary visa in the USA.

Your post, while quite good overall, essentially looks like a case study done by an MBA student.

Edit: You can also review Spondoolies-Tech posts. The forum account is mostly manned by a their CEO, who isn't afraid to admit that he doesn't understand some technical issues, but is always capable of delegating the Q/A to an appropriate person within his organization.

Edit2: some grammar fixes

[kingmarv]

Your conecpt looks interesting. It sounds like a competition to Spondoolies-Tech who are clearly leading
But i have a question, how do u mean 120 years experience ? Do u sum up the experience from the team ?

Another note to the Limited discussion:
You can buy a Limited within 24 Hours for 200-300€, and you dont need to leave your home.
At the Dark Market you can buy Limited Service where do you get your limited + fake id + fake documents for 1000-2000$.

I dont want to say that your are scamming, but a Limited is not much incredible


In conclusion i would suggest to look for a local investor who is able to check the processing.

Regards

[opieum2]

While it all sounds interesting, and there is some technical info in there, alot of others have come before with info. The real onus is to provide technical depth to show us that this is the real deal. There are some very knowledgeable people on here who can validate any claims of performance.

Many of us have been burned by pre-orders....telling us you are another pre-order, even if its on indiegogo, needs significant validation to make traction. Inflated performance specs have also caused damage. We need to be sure we truly know what we are getting into and that requires honesty on your part if for some reason your product will not meet those performance targets....also what kind of experience do your engineers have? Spondoolies comes right out and says it....Intel, Motorola and a couple of others.

A champion thoroughbred always has his lineage as a validation of his champion status as that pedigree is what can ultimately (to some degree) determine fitness (in this case success), a parallel to race horses and dogs that applies to business in many cases. What people want to see is your previous track record of success. That will determine whether this venture could also be successful. Having a nice marketing friendly resume is not going to cut it. Solid tracks records of success is what matters. We want to

We need to see alot more than marketing speak and a different way of approaching the community. You want to deal in facts? Great so do we. Technical and non-technical facts. The corporate hunters on here are relentless and will pick apart your every word. Its what they do. Some will never be pleased until you have proven yourself. And that will require alot of effort on your part to make happen. It's frustrating to deal with the forum aspect as it is (for you) but going on cryptocoinsnews does not mean you have legitimacy. BFL has HUGE market mindshare and are still pulling the crap they are pulling. Quite a few other companies have been featured on news sites and well now they are on there for different reasons...

From what I read you have a sound business plan. And you obviously get people's frustrations with pre-orders. But you have ALOT to prove before people open their wallets to you. You will surely also have the paid shills who will attack you as they work for a competitor (which is happening)....but prove yourself past all that, and you will win. Low priced miners are a great thing...but until we see something, its all snake oil. Hopefully you appreciate this perspective.

[elengro]

If you'd read the text then you would have clearly seen two names mentioned. You can also see the Indiegogo page and who's leading the project, so I suspect you may ave simply skimmed over it.
.
Now, if you really think that we're going to present detailed CV's to a poster on a forum that hides behind a username, then that's simply not going to happen, If you want an engineering or financial discussion, then we'll gladly have one.

Beat this or go home:

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

Is it just me or the link is not online?
Tks.

[Syke]

In our case, the Director is Olivia Walker who is a marketing professional. My name is John Fowler, I am the company’s Technical Manager and primary contact point for this forum.

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

[c2m]

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!

[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.

[novello]

While it all sounds interesting, and there is some technical info in there, alot of others have come before with info. The real onus is to provide technical depth to show us that this is the real deal. There are some very knowledgeable people on here who can validate any claims of performance.

Many of us have been burned by pre-orders....telling us you are another pre-order, even if its on indiegogo, needs significant validation to make traction. Inflated performance specs have also caused damage. We need to be sure we truly know what we are getting into and that requires honesty on your part if for some reason your product will not meet those performance targets....also what kind of experience do your engineers have? Spondoolies comes right out and says it....Intel, Motorola and a couple of others.

A champion thoroughbred always has his lineage as a validation of his champion status as that pedigree is what can ultimately (to some degree) determine fitness (in this case success), a parallel to race horses and dogs that applies to business in many cases. What people want to see is your previous track record of success. That will determine whether this venture could also be successful. Having a nice marketing friendly resume is not going to cut it. Solid tracks records of success is what matters. We want to

We need to see alot more than marketing speak and a different way of approaching the community. You want to deal in facts? Great so do we. Technical and non-technical facts. The corporate hunters on here are relentless and will pick apart your every word. Its what they do. Some will never be pleased until you have proven yourself. And that will require alot of effort on your part to make happen. It's frustrating to deal with the forum aspect as it is (for you) but going on cryptocoinsnews does not mean you have legitimacy. BFL has HUGE market mindshare and are still pulling the crap they are pulling. Quite a few other companies have been featured on news sites and well now they are on there for different reasons...

From what I read you have a sound business plan. And you obviously get people's frustrations with pre-orders. But you have ALOT to prove before people open their wallets to you. You will surely also have the paid shills who will attack you as they work for a competitor (which is happening)....but prove yourself past all that, and you will win. Low priced miners are a great thing...but until we see something, its all snake oil. Hopefully you appreciate this perspective.

Thanks for your post and input, it's much appreciated. Contrary to what you say, the forum crowd are actually very easy to deal with, I 've been dealing with blue chip customers for nearly 40 years, and believe me when I say that the forums are child's play by comparison. Yes, we are fully aware who's the 'shills' and fanboys on here, but we are professionals and don't rise to their bait. There's plenty we could say about them, but that's descending to  a level we don't want to visit. We have nothing to hide, but to come on and declare the provenance of our staff - which you can never validate or check, no reputable company will tell you a thing about their employees - seems a totally fruitless exercise. If we had wanted to scam anyone, we could have got 5 random people, photographed them in suits and bunged on some made up cv's  on Linkedin. We didn't because we're from a generation where actions did indeed speak louder than words - especially words spoken when hiding behind an alias. Exactly how successful have the companies been that have trumpeted on about their teams and people?

As for our design, any idiot will realise that we are not going to open our design files for all to see. Any half decent chip designer or competent electronic engineer knows full well that SHA256 is essentially made of three simple digital blocks: flip flops, full adders and 32 bit fast adders. A snippet of information about one or all of them is all you need to know how someone is doing something different, and we're guarding our snippets very carefully. It's funny that no one has yet come to us and said "you can't do this or say you have x performance because........." and there's a good reason for that. It is feasible, it's a question of implementation. Give that away and you lose your business edge. We have told you what our margins are, and broken down how the money will be used. Now that is verifiable, and any competent engineer will confirm it's accuracy. We've actually structured a design rather than saying we have a pretty box, and thought through how to implement it. Do you really believe scammers would go to so much trouble? Most of them have trouble spelling.

The funny thing about our pitch is that it seems that no one has actually read it right through. Our post was originally part of a larger business plan, an so we expect that most of the forum users aren't used to seeing something in this format or so comprehensive. It's about 20x larger than any other initial pitch and tries to address virtually everything about what we want to do, and how we intend to get there. No other 'new' company has ever addressed most of what we have addressed in our plan or stuck their neck out and made predictions. No other company has warned you to check and recheck what you read, or addressed the elephant in the room, namely the companies/people who  are quickly taking over Bitcoin mining.

Ultimately, time will tell if we get our funding or not. if we don't, it will have been a good learning experience. If we do, then we hope to be able to restart the mining scene so it once again becomes open to anybody.