Maybe not? Hoping the price dives under $100 for a while so the big guys have to close shop .

Well I believe they are banking on the fact that people's orders are small enough that it won't be worth their time suing. Please contact me if you're considering the option of suing Minersource, thank you.

Reported Minersource to the FTC last night. If anyone else is waiting for a refund from Minersource please contact me, thank you.

Well you see, to start because they have not refunded me a dime and I have asked for a refund in June. They did offer me some BTC Garden miners but that was not a viable option for me due to space and power requirements (my X3 order was to be hosted with Minersource).

Then it would be the small matter of BA refusing to honor (according to MS) some of the promotions they have ran in the past that were part of my contract with Minersource. They didn't bother letting me know - maybe because they conveniently forgot or they were just afraid I would have asked for a refund right away since not keeping your promises is a clear indication of a shady company - once they have your money they suddenly forget all the promises/promotions/deadlines, etc.

And third, because they have stopped communicating and therefore how can you expect any amiable resolution with someone that doesn't even want to communicate with you?

Well I can confirm that I invested a lot more than 10k with BA through Minersource. Currently I have tried to work out something with Minersource but they have stopped responding to my messages. I will probably end up suing Minersource if they don't get their act together.

If there are any other people in the same situation as myself - please contact me, thank you.

It certainly looks that way - BA is basically the company of a con-man. That, and PG was right... it really isn't a stretch comparing them and BFL. They are both companies run by con men, and while BA appears to be slightly more competent (and I use the term loosely) that's really not saying much - and that's why we're in this mess.

PG was right all along I suppose - should have listened to him .

Not to discourage anyone... but in addition to getting the boards populated with the chips you need cooling (do the boards from Technobit include the fans?), a box for mounting, power supplies, connectors/cables. Some sort of front end that can communicate with all the boards, hosting... who is going to provide all that and more importantly at what cost?

I hope Minersource was smart enough to have some delay clauses in their contract with BA because this situation is a disaster for everyone involved  .

Not really. When I buy something priced in US dollars with my Canadian credit card, the amount gets converted into US dollars. When I get the refund, the amount of US dollars gets automatically converted into Canadian dollars at the current going rate. So I get back the same amount I paid in US dollars - that is what a refund means because this is what I have paid at the time of my purchase. If I paid a merchant $5,000 then I expect a refund of $5,000 - I don't see how you can interpret it any other way.

And just so we're clear, Minersource prices are in US dollars. If Minersource or BA chose not to convert the BTC they have received that is their prerogative, but that doesn't change the value of your order.

The arrangement between you and your supplier is irrelevant to the contract between you and your customers. If someone ordered $5,000 worth of merchandise and paid you, you have to refund them the same amount in whatever currency you choose to refund in. Anything else means your "refund" is not really a refund at all.

They can't do that - not legally as far as I know. You entered in a contract to buy goods and services at say US $5,000. If you get a refund, the refund value should be $5,000-processing fee (if there is one) regardless if they choose to refund you in Bitcoin or US dollars. Entering into a contract to buy goods and services is not the same as buying shares or currency where the value of your holdings is prone to market swings.

I think regardless of what they refund you in - Bitcoin or USD it is OK as long as the value of the refund is the same as what you originally paid in US dollars (minus a processing fee if they charge one).

Edit - clarity.

They will, eventually... maybe? Really can't be sure because they have lied so many times I don't believe anything they say anymore, lost whatever little trust I had in them to begin with. Even if they do so, say 6 months from now on - whatever the level of compensation offered, it is unlikely it will be of much value to us at that time.

Maybe (in light of recent delays) they should change it to "we do not aim to have our customers make any profit" .

Not sure how many orders they have but I doubt people will line up to buy from these guys again - but then again there were people who still ordered Monarchs from BFL, so there might still be hope for BA after all o.O

Wait, so they shipped ONE X1? I guess we can all go home now, great success! 

And just what are the facts? Delays, broken promises, sloppiness, lies, incompetence... perfect material for the too often seen these days story of Bitcoin mining companies.

Precisely.

So they can't even get one PR person to show up and answer questions for weeks now but they will produce a complex miner, using a custom designed chip and board and they will deliver it on time, using the "new" schedule. Just let that sink in for a minute. My back of the napkin estimate - ladies and gentlemen, if everything else in that company runs just as well (and we have seen no proof to the contrary so far) we are screwed.

While there is some truth to what you are saying, no one knows what the landscape will look like in a few months and that's why I believe the risk is still largely on the buyer's side. The risks the manufacturers face are multiple as well, however they have been paid for taking said risks. The buyer (miner) is taking a huge risk gambling on a future that's virtually unknown to anyone. Also, while one company can control what they do and they should be held responsible for their actions they can't control what others are doing or predict the future, therefore I will argue that ultimately the risk is yours to take.

Sure they did. They delivered what they promised in a reasonable time frame. They are not responsible for you getting all your BTC/money back or otherwise, that risk is yours to take.