Just ordered additional 20,000 chips from Avalon. Orders that would not be covered by the first batch, would certainly be covered by these chips.
BitSyncom is going to get the chips produced in bulk from the foundry. We believe that all the orders will be shipped by Avalon in close proximity to each other. So, hopefully, the chips ordered today will be shipped at most a week or two after the ships we ordered on May 10 and 16. In that case, our batch 2 orders will start shipping at most 2 weeks after the batch 1.
This is clearly not what we discussed. Terrahash contact us ASAP.
GO HOME, SCAMMERS.
Terrahash opened for pre-orders despite promising not to take a cent up until they have units in stock. Their hand was forced because 10,000, of their 20,000 chip order (paid for) was for an order agreed by Cloud Hashing!
Cloud Hashing jump ship after KnC are proved more legitimate than assumed, and demand their $80,000 back from Terrahash. The order was $105,000 in value, but $80k was needed up front to secure the chips from Avalon that Terrahash went and did.
This left Terrahash $80k out of pocket despite securing premises to assemble and further parts etc. for Cloud Hashing's order.
This forced Terrahash to demand pre-orders, something they promised not to, but had to or face bankruptcy before starting forced upon them by Cloud Hashing.
The community saved Terrahash because Cloud Hashing has no integrity!
http://www.coindesk.com/terrahash-opens-asic-mining-preorders-loses-business/Led to believe you would get the equipment before June? BS! Cloud Hashing was well aware the deal with Avalon could be delayed as BitSyncom sorted their shit out, as we all have known, but they were happy to jump on board until KnC started looking more legit, then Cooud Hashing dumped Terrahash high and dry whilst making a similar order for something with delivery in September...not June?!
Now, get this it appears Cloud Hashing want back in since Terrahash have had to order another 20k chips to satisfy demand;
https://bitcointalk.org/index.php?topic=198489.msg2527527#msg2527527 presumably ahead of the pre-orderers that just saved Terrahash from going under!!
After this, no one should be doing any business with Cloud Hashing period, that's just common sense. Integrity is everything!
This is without the fact Cloud Hashing's business method to their own customers is at best unstusstainable, and at worst knowingly faudulent. With the latter overtly being the case!!
Terrahash customers, Cloud Hashing put you right in this pre-order mess and now they want back in to jump queue, be warned...
Terrahash don't you dare return that call, Cloud hashing almost unceremoniously, and purposely sank your business!
Well, Bitcoinorama figured it our quiet well. This is almost what happened. However we never promised them a June delivery. We always said late July, and that too depending upon the delivery of the chips. Nowhere in our communication with them is there a mention of a June delivery. We are viewing their allegations in the Coindesk article as Libel/Slander, and are contemplating legal action against them on the basis of that article.
About the refund to them, we have plenty of funds to process the refund, but they are currently tied up in our PayPal account. When we last talked to Emmanuel, he demanded that we pay him back from our BTC balance, and we told him that we wanted to use it to order more chips to ensure we have enough for the orders that we have received. That is exactly what he meant when he said "This is clearly not what we discussed." We will definitely refund CloudHashing, but its not a priority right now. We will do that once PayPal releases the hold on our funds. In the meanwhile, we will continue using our BTC and Bank Balance for our regular business.