Is Novello Technologies a scam?

[jimmothy]

Announcement thread: https://bitcointalk.org/index.php?topic=638729.0

[Bicknellski]

No miners. No money.

Only way it could turn into a scam is if you add your money.

[loshia]

No miners. No money.

Only way it could turn into a scam if you add your money.

Like AMT
Bick,
You know first are sacm Intentions which are more than enough to call someone a scamer. The scam consequences follow.
So i disagree with you that Only way it could turn into a scam if you add your money

[RoadStress]

Until more proof I call it scam.

[Bicknellski]

Until more proof I call it scam.

Again the only way it becomes a scam is you add money.

Has anyone put anything in? Doubtful.

[RoadStress]

Until more proof I call it scam.

Again the only way it becomes a scam is you add money.

Has anyone put anything in? Doubtful.

They got $4,500 on indiegogo

[Bicknellski]

Whose money was that?

You can donate to yourself.

Again no one should be donating anything to anyone unless you can see the people, talk to the people you are investing in. At this point I hope no one has put in a penny until they have properly vetted these people and their team.

[Majixagi]

Just watching it myself for now. I'd rather not be out financially by any more scammers as it has started taking its toll, even when it happens in small amounts, My tolerance has reached the limits. It seems like more effort than the average scammer would put into a writeup. If it is scam they are sure working for it. Someone will put money in regardless.

[opieum2]

On the one hand, if they had some kind of prototype to show off it would go a long way to show they are the real deal...also showing up at some trade booths making that investment on their own dime would be a good start....personally I am hesitant due to the other cases of pre-orders that went on....they are doing this on indiegogo with a shot at keeping the money they get so yea fairly suspect but that is due to prior experience

That being said tho I do have to comment on the blatant conflict of interest that some people have here who make hardware themselves to attack any newcomers....its poor form.....Seeing alot of shady behavior that should make anyone question what the motivation is for some to attack new companies coming on here. Should make one wonder who else is in on the take as a "corporate hunter".

[jimmothy]

Seeing alot of shady behavior that should make anyone question what the motivation is for some to attack new companies coming on here.

You're joking right?

It is shady behavior for a company with no reputation, no history, and no names to offer preorders for a theoretical product.

It's even shadier to suggest this company is not shady.

With every new post from novello I am more convinced it is a scam.

[Bicknellski]

Seeing alot of shady behavior that should make anyone question what the motivation is for some to attack new companies coming on here.

You're joking right?

It is shady behavior for a company with no reputation, no history, and no names to offer preorders for a theoretical product.

It's even shadier to suggest this company is not shady.

With every new post from novello I am more convinced it is a scam.

I have to agree with the idea that anyone coming to this forum with hat in hand must be taken through some serious vetting before anyone should put a single penny in their pockets. There has always been people shouting louder at the "competitors" who are viewed as up and comers or threatening their favorites market share. Fanbois will be fanbois but in this case you have to seriously review everything these people are saying and do not invest a penny until you know who or what you are dealing with.

[Majixagi]

Seeing alot of shady behavior that should make anyone question what the motivation is for some to attack new companies coming on here.

You're joking right?

It is shady behavior for a company with no reputation, no history, and no names to offer preorders for a theoretical product.

It's even shadier to suggest this company is not shady.

With every new post from novello I am more convinced it is a scam.

I'm curious: What is the source of your passion regarding this company or scam?

On the contrary side, seeing how they are calmly answering your questions will put some people at ease about this not being a scam. You were a big BA supporter for a long time, and may still be, and at this time there is no definitive answer about BA being able to deliver what they promised. Your motivations for being so passionate against this are questionable.

[Bicknellski]

Seeing alot of shady behavior that should make anyone question what the motivation is for some to attack new companies coming on here.

You're joking right?

It is shady behavior for a company with no reputation, no history, and no names to offer preorders for a theoretical product.

It's even shadier to suggest this company is not shady.

With every new post from novello I am more convinced it is a scam.

I'm curious: What is the source of your passion regarding this company or scam?

On the contrary side, seeing how they are calmly answering your questions will put some people at ease about this not being a scam. You were a big BA supporter for a long time, and may still be, and at this time there is no definitive answer about BA being able to deliver what they promised. Your motivations for being so passionate against this are questionable.

We could equally ask... why are you so fixated on what people Jimmothy backed in the past? Are you part of the Novello team in disguise?

Let us look at the facts.

No evidence right now to support either fraud or scam or that they are a reliable company. Better to be very hard on them and demand real answers regarding their key management and design team. You don't throw out a proposal like they have unless they have a team. Maybe they are hiding something or someone as they don't seem to want to show their team to anyone yet.

[jimmothy]

I'm curious: What is the source of your passion regarding this company or scam?

On the contrary side, seeing how they are calmly answering your questions will put some people at ease about this not being a scam. You were a big BA supporter for a long time, and may still be, and at this time there is no definitive answer about BA being able to deliver what they promised. Your motivations for being so passionate against this are questionable.

My "source of passion" is denouncing bullshit when I see it.

It is not only unprofessional but very scammy to ask for $4,000,000-$10,000,000 before even attempting to establish legitimacy.

BA has had long delays but they are not scammers. Although I would never recommend preordering from any company I just decided to take a gamble on them. Their chips exist and it's only a matter of time before we get our miners.

If you've been in the bitcoin mining world for more than a few months you would know that there have been dozens of asic manufacturers that outright stole their customers money and vanished. And many of those "companies" were much more convincing than novello.

[iglasses]

The thing is it doesn't even have to be a scam for you to lose money, should you be foolish enough to give them any.  It could actually be a group of people who all have the best of intentions and there is still little to no chance that it will succeed.  There is just too much competition that is too far ahead of them at this point.  
Even if everything they are claiming all turned into realty, it would still be no good because the other h/w guys will be miles ahead of them by then.

We are about hit 12 billion diff. By the time these guys have a single machine hashing the diff. could be 100 billion.  WTF are you going to do with their hardware then?

Pre-order/We have a terrific idea for a h/w design/ Give us your money to fund development of something that may or may not work and may or may not ever exist is OVER.  The h/w design phase of ASIC is completed and the people who were there and cashed in now have the bankroll to keep it going into the next phase and so on and so on.  You can't come to the dance three hours late and go home and fuck the prom queen!

[Majixagi]

My "source of passion" is denouncing bullshit when I see it.

It is not only unprofessional but very scammy to ask for $4,000,000-$10,000,000 before even attempting to establish legitimacy.

BA has had long delays but they are not scammers. Although I would never recommend preordering from any company I just decided to take a gamble on them. Their chips exist and it's only a matter of time before we get our miners.

If you've been in the bitcoin mining world for more than a few months you would know that there have been dozens of asic manufacturers that outright stole their customers money and vanished. And many of those "companies" were much more convincing than novello.

Fair enough. I was genuinely interested in your answer as I've heard it suggested that you might be on BA's payroll.

I've been in the mining world long enough. I mostly agree with you about this company, by the way. The only thing that has me still interested in watching this unfold is the calm way that the OP continues to answer the questions. Usually at this point they'd just be mad at why the forum is not accepting them with open arms and they would be posting wildly and irrationally trying to defend themselves.

[opieum2]

Seeing alot of shady behavior that should make anyone question what the motivation is for some to attack new companies coming on here.

You're joking right?

It is shady behavior for a company with no reputation, no history, and no names to offer preorders for a theoretical product.

It's even shadier to suggest this company is not shady.

With every new post from novello I am more convinced it is a scam.

I'm curious: What is the source of your passion regarding this company or scam?

On the contrary side, seeing how they are calmly answering your questions will put some people at ease about this not being a scam. You were a big BA supporter for a long time, and may still be, and at this time there is no definitive answer about BA being able to deliver what they promised. Your motivations for being so passionate against this are questionable.

We could equally ask... why are you so fixated on what people Jimmothy backed in the past? Are you part of the Novello team in disguise?

Let us look at the facts.

No evidence right now to support either fraud or scam or that they are a reliable company. Better to be very hard on them and demand real answers regarding their key management and design team. You don't throw out a proposal like they have unless they have a team. Maybe they are hiding something or someone as they don't seem to want to show their team to anyone yet.

My motivations if you look at my previous posts you will see where I stand on these things I have gone up against both companies and individuals and called them both out. But you are a hardware designer. You have an blatantly obvious conflict of interest coming on here and accusing them of anything. You gain from seeing them fail....hence my comment. Turning it on me....Its easy to claim I am a shill except I have also in other posts on their own thread stated they have to prove their point...I even suggested how. So my motives are not in question as I don't design hardware open source or not or have a financial gain here. I just want to see them legitimize themselves. Show a working prototype of their hardware for starters....and/or be at a trade show make more of a presence in the bitcoin community beyond a virtual one. Wallets open when real proof of virtual claims are made. In this case that is what they need to do.

However considering the number of people on here who come at companies when they themselves are involved with their own project is underhanded and shady by itself.

[Bicknellski]

Seeing alot of shady behavior that should make anyone question what the motivation is for some to attack new companies coming on here.

You're joking right?

It is shady behavior for a company with no reputation, no history, and no names to offer preorders for a theoretical product.

It's even shadier to suggest this company is not shady.

With every new post from novello I am more convinced it is a scam.

I'm curious: What is the source of your passion regarding this company or scam?

On the contrary side, seeing how they are calmly answering your questions will put some people at ease about this not being a scam. You were a big BA supporter for a long time, and may still be, and at this time there is no definitive answer about BA being able to deliver what they promised. Your motivations for being so passionate against this are questionable.

We could equally ask... why are you so fixated on what people Jimmothy backed in the past? Are you part of the Novello team in disguise?

Let us look at the facts.

No evidence right now to support either fraud or scam or that they are a reliable company. Better to be very hard on them and demand real answers regarding their key management and design team. You don't throw out a proposal like they have unless they have a team. Maybe they are hiding something or someone as they don't seem to want to show their team to anyone yet.

My motivations if you look at my previous posts you will see where I stand on these things I have gone up against both companies and individuals and called them both out. But you are a hardware designer. You have an blatantly obvious conflict of interest coming on here and accusing them of anything. You gain from seeing them fail....hence my comment. Turning it on me....Its easy to claim I am a shill except I have also in other posts on their own thread stated they have to prove their point...I even suggested how. So my motives are not in question as I don't design hardware open source or not or have a financial gain here. I just want to see them legitimize themselves. Show a working prototype of their hardware for starters....and/or be at a trade show make more of a presence in the bitcoin community beyond a virtual one. Wallets open when real proof of virtual claims are made. In this case that is what they need to do.

However considering the number of people on here who come at companies when they themselves are involved with their own project is underhanded and shady by itself.

Was not thinking for a minute you were a member of the Novello team. My post was just for reference. There are way too many in these forums who have been paid to post. See Hash Fast as a perfect example. BFL as well and a few others most definitely use multiple accounts and paid backers or fanbois to turn the discussions in their favour or defame others especially if you can bring evidence to illustrate their wrong doings.

Anyhow I think most people get that they shouldn't put a single penny down on this. That is good for the community.

[brian_23452]

Of course it is a scam.  You give them money, and they are under no obligation to give you anything in return.  This would be fine if they said they were asking for donations.  But they aren't, they are attempting to call the donators customers.  Intentionally misleading people to get their money is the definition of a scam. 

[Syke]

I've been in the mining world long enough. I mostly agree with you about this company, by the way. The only thing that has me still interested in watching this unfold is the calm way that the OP continues to answer the questions. Usually at this point they'd just be mad at why the forum is not accepting them with open arms and they would be posting wildly and irrationally trying to defend themselves.

Why would they be upset? Their scam is working out quite well. So far they've snagged $4,539 simply by posting a few paragraphs of text. Man, if I could make $4k in a couple days I'd be pretty happy too!