Search content
Sort by
Showing 14 of 14 results by gtlz
Regardless of the outcome the lack of any communication seals it for me. Yifu signed into his account some time ago but didn't bother to say anything and left people hanging. People start talking litigation and he appears within hours.... Amazeballs
Litigation? Pfffft, this isn't a civil matter (though it certainly could be). I know of at least one person who has already filed paperwork with the NY State AG, FBI Cybercrime, FTC and Interpol. I hope Yifu's got good counsel.
I can't wait to hear Yifu's excuse for why it takes 3+ weeks to send BTC back to customers who paid in BTC. My order was marked "refund processing" over 22 days ago, yet, silence from Yifu & Co despite trying to contact them on all valid email addresses.
BitSynCom is a USA corporation, incorporated in the state of Nevada.
I don't see that entity on the website. Possibly that was deliberate. Is it listed once you do an account or order with them? You can't lien or attach BTC but does the company have any assets in the US that could be frozen by lis pendens? Since yufu is in the US the easiest route would be to serve him personally. He might have been deliberate in publicly stating he doesn't control the BTC sent in but you might be able to depose him under oath to get some answers but the process is very long for that if he fights it.You should probably read the current render of avalon-asics.com before posting such dribble. It clearly says copyright Bitsyncom LLC. Not to mention, the waybackmachine records of the avalon-asics website during those orders. It's all very clear that Yifu and Avalon were operating as a Nevada-based domestic LLC with its managing member (Yifu) residing in Brooklyn.
You bring up a good point; recoverability. If sued, what's the likelihood that the plaintiffs would actually receive restitution? Quite low. However, this isn't just a civil matter and it isn't just a matter for the SEC (traditionally they only deal with public companies) but rather one that hits the radar of the NYAG and FTC. The NYAG has a reputation for being incredibly tough, ever since Spitzer, and the FTC is a nightmare of its own. In short, Yifu & Co fucked up. They WILL have to answer in court, should they ever decide to step foot in the United States again.
To those mentioning the international aspect; this might actually draw out prosecution. My personal take is that Yifu will be summonsed in US court on interstate fraud charges and extradited accordingly. After all, when multiple countries want to prosecute, US almost always gets first hack at the bad guy.
The other reason why I think the SEC route is a waste of time is because Yifu wasn't directly soliciting funds to start or develop his company. The SEC cares more the sale of equity than anything else.
BitSynCom is a USA corporation, incorporated in the state of Nevada.
I don't see that entity on the website. Possibly that was deliberate. Is it listed once you do an account or order with them? You can't lien or attach BTC but does the company have any assets in the US that could be frozen by lis pendens? Since yufu is in the US the easiest route would be to serve him personally. He might have been deliberate in publicly stating he doesn't control the BTC sent in but you might be able to depose him under oath to get some answers but the process is very long for that if he fights it.Furthermore, those of us with bitpay or other receipts for non-delivered or non-refunded Avalon products have written proof that currency was delivered to Bitsyncom, LLC.
BitSynCom is a USA corporation, incorporated in the state of Nevada.
I don't see that entity on the website. Possibly that was deliberate. Is it listed once you do an account or order with them? You can't lien or attach BTC but does the company have any assets in the US that could be frozen by lis pendens? Since yufu is in the US the easiest route would be to serve him personally. He might have been deliberate in publicly stating he doesn't control the BTC sent in but you might be able to depose him under oath to get some answers but the process is very long for that if he fights it.You should probably read the current render of avalon-asics.com before posting such dribble. It clearly says copyright Bitsyncom LLC. Not to mention, the waybackmachine records of the avalon-asics website during those orders. It's all very clear that Yifu and Avalon were operating as a Nevada-based domestic LLC with its managing member (Yifu) residing in Brooklyn.
BitSynCom is a USA corporation, incorporated in the state of Nevada.
The NV corporation was set up by one of those many corporate agent lawfirms. They accept law suit service documents on behalf of Yifu and then forward them to Yifu. Yifu is required by applicable state and federal law to keep valid contact methods with the appointed legal representative.
To be honest, this is a criminal matter best handled by the NY State AG since that is where Yifu resides according to the filing documents held by the Nevada Corporation Commission. https://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=ozwghIfOnmFj64qH4nYDaA%253d%253d&nt7=0 Yifu & Co made advertisements on the Internet for a deliverable product, under the auspices of a US registered entity, with promises of delivery within a certain timeframe. The FTC and standard consumer protection laws, in concert with Yifu's own claims, solidify his obligation to his consumers.
Yifu is going to end up on the wrong side of an interstate fraud investigation, spearheaded by the NYAG, if he doesn't start answering his paying customers.
Damn. So strange. Almost like a punishment.
It's too bad that it's so hard to transfer BTC, especially for a company that is BTC-liquid. Someone should invent a cryptocurrency that doesn't require weeks to process a transaction.
For what it's worth, I didn't even want to go the refund route. However, after filing multiple support tickets and sending multiple emails about a crucial shipping issue (I moved residences and wanted it shipped to my office instead), all of which went unanswered, I suspected I had but one option. I knew that it would be next to impossible to get someone with half a brain to respond, let alone do anything about the impending shipping fiasco...
Avalon is not exactly a shining example of customer service.
I have 1 3-module and 3 4-module Avalons ordered in Batch 3 and am trying to make sure I have everything set up properly before they arrive. I've read through many of the posts here and am just looking for feedback from those with first-hand experience with Avalons to see if I missed anything.
For the PSUs, I'll be using an 850W, Gold certified, single rail for the 3-module unit and 1000W, Gold certified, single rail for the the 4-module units.
The power management is the part I've had the most trouble understanding. I'm going to check the outlets in my apartment to find out which are on different wires (pardon my layman terminology, I'm sure I'm not getting it right). It sounds like I should be safe plugging in at most 2 Avalons per wire, assuming no other appliances are sharing that wire, is that right?
I was originally looking at getting a UPS for each Avalon, but a few posts here convinced me that they shouldn't be necessary, especially since I live in an area with infrequent black/brown outs (Seattle). I'd still like to be able to remotely restart the Avalons in case of any hangups, and of course protect them against power fluctuations, so I've settled on using "Web Power Switch 7" from http://digital-loggers.com/lpc.html. Would these be able to adequately protect 2 Avalons plugged in to each, or should I get 1 per Avalon? Am I correct in understanding that I would be able to remotely reboot the Avalons with these, even after a power outage?
Thanks in advance!
For the PSUs, I'll be using an 850W, Gold certified, single rail for the 3-module unit and 1000W, Gold certified, single rail for the the 4-module units.
The power management is the part I've had the most trouble understanding. I'm going to check the outlets in my apartment to find out which are on different wires (pardon my layman terminology, I'm sure I'm not getting it right). It sounds like I should be safe plugging in at most 2 Avalons per wire, assuming no other appliances are sharing that wire, is that right?
I was originally looking at getting a UPS for each Avalon, but a few posts here convinced me that they shouldn't be necessary, especially since I live in an area with infrequent black/brown outs (Seattle). I'd still like to be able to remotely restart the Avalons in case of any hangups, and of course protect them against power fluctuations, so I've settled on using "Web Power Switch 7" from http://digital-loggers.com/lpc.html. Would these be able to adequately protect 2 Avalons plugged in to each, or should I get 1 per Avalon? Am I correct in understanding that I would be able to remotely reboot the Avalons with these, even after a power outage?
Thanks in advance!
Sounds like you are off to a reasonable start with your power goals by checking the outlets in your apartment to find out which are fed by which breakers. However, it sounds like you are lacking the formula you need to be safe.
Watts/Volts=Amps. That's watts divided by volts = amps. Amperage is what you need to concern yourself with foremost. If you live in the U.S.A., you will have "120v" current, but because of voltage drop you may actually have more like 110v, so it is safer to use that figure for calculations. If in Europe, verify for yourself, but more likely 240v (also with a voltage drop to 220~).
To be 100% safe you don't want to exceed 75% of a device's (power strip, extension cord, circuit breaker) rated amperage capacity. So a 20A circuit that you plan to run 24/7 should not be loaded with more than 15A continuously. Depending on how recently your house was built and other factors, many of the circuits in your house are likely only 15A. 75% of 15A is only 11.25. And as we remember from our prior formula (Watts/Volts=Amps), we can multiply 110v by 11.25amps to get the maximum wattage suitable to run on a 15A circuit continuously. 1,237 watts.
In short, running both units on a single circuit is doable, but be careful
What's the average amperage draw of the B#1/2 3-module unit?
Using Bitcoin to get money out is harder than it looks. You would have to exchange money for Bitcoins, an for that to happen, there must be people in Cyprus that are willing to sell Bitcoins that they already own (either already sold out, or very expensive), or use foreign exchanges like MtGox (restricted by foreign spending limits).
Very true. Currently, the biggest barrier to wider adoption (for many) is the difficulty of changing currency.