Quote from: retro72 on July 29, 2014, 08:01:52 PM

You were right s1gs3gv. The big announcement is shares in the company.

http://www.coindesk.com/alpha-technology-blames-paypal-dispute-bitcoin-asic-delivery-delay/

Quote

Any future mining operations and any future batches we do, our customers will gain a share of the profits via dividend distributions, said Akram, promising further details of the deal soon.

Smells pretty desperate if you ask me. Who the hell is going to buy Alpha's overpriced junk in September. They will have to massively increase hashrate and cut the price. A dividend share of £0= £0

They might not be lying about Paypal holding on to funds. That's what they do in disputes. They've also recently (last six months, I believe) enacted a reserve system, so they'll hold on to a % of all your Paypal funds, judged based on certain risk factors. Legal, credit score, disputes, and so on.

I do think they're scapegoating to the highest degree here, but there may be a tiny grain of truth in that Paypal are probably holding on to a decent chunk of the payments they've recieved via Paypal.

It's a bad excuse, though. I don't think the funds they can't access are that high compared to what they've obtained elsewhere, and the tapeout issues clearly demonstrate their lack of experience and inability to operate as an ASIC developer.

The reason I have doubt is that after 60 days (soon to be 90, if not already, although I don't think it's retroactive), you can no longer make a paypal claim. So if they do have money issues, it's with Paypal's reserve system. If you paid via card via Paypal, I believe you can still initiate a charge-back.

They're accountants. No surprise they'll blame accountancy for their problems.