Quote from: howardb on July 10, 2014, 05:28:01 PM

Quote from: shelldrake on July 10, 2014, 05:37:48 AM

What is going on with this?

There has been no email or newsletter to my knowledge, well known sent to my email address. The old website no longer exists and new one doesn't have anything about the group buy?

Do I have to troll through this thread and try to read between the lines of Thomas and Co who don't like communicating?

frustrated Angry

Well I could give you the abbreviated update, so you understand why there is nobody in DZ that gives a shit anymore. That is:

a) R17 was a setup, they (DZ people) didn't give our money directly to Black Arrow, instead it went to their 'mate' a newly signed up Black Arrow reseller called minersource known here as bobsag3.

b) When things started going tits up, minersource did provide bitcoin (not fiat) refunds to those that asked a few month ago. Since most of us paid when BTC was > $800 that was a tidy profit for them!

c) In mean time, minersource have now 'employed' the DZ person that was supposed to be looking after our interests thomas_s.

d) As time has progressed and things have gotten worse, any new requests for refunds have been refused by minersource. There is of course nobody left in DZ to fight our corner.

e) BA expect to ship at end of this month, but have openly admitted the X3 is nolonger competitive but have failed to up the compensation, so instead they are offering raw asics as an alternative to taking delivery of X3's as an option. The three main problems with that deal are: 1. Only one company can do anything with those asics in terms of wiring them into a hashing board, in Bulgaria, with at least two weeks lead time. + shipping times! 2. You need to shell out more money to do this or give up half your chips as payment! 3. By the time all the above is done you will be lucky to get your money back hashing.

f) Those that stick with R17 will have to wait till August to see X3's hashing (maybe!) and even then we will be very lucky to see more than $1 in 3 of our investment back!

So we are royally up the keiber without a paddle!!

I think the only viable option is getting chips converted. By the BA press release they only have the ability to make 10% of the X3s because they don't have any more money to build backplanes.

The evidence I have for this is that they won't give refunds until after all units ship. They need all X3s to mine with to generate income. They will mine until they have the BTC to pay for refunds, LCDs, and backplanes.

If they had the funds they would have built 100% of the backplanes.

They claim a problem with the LCD manufacturer that is why no LCD. But could it be that they ran out of funds so they couldn't purchase LCDs for their units?

They used up all of their funds for the chip build. They can offer conversions to chips because that is what they mostly have.

There will be a PR today or tomorrow with some sort of excuse for why they aren't shipping X1 in quantities but they are still on schedule to ship X3 by end of month. This is all a smoke screen.

IMHO the only solution to this mess is chip conversion and having Technobit build a miner. I see no other hope.