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Re: Off-Topic
by
mrthundercleese
on 26/09/2013, 13:42:52 UTC
OMG - Terrahash folds, and the trolls are still arguing to protect their egos.


Say with me.

1. 2. 3. - I'm over it.

Now get over it... and get on with business, whatever business you have besides defending your precious ego.

This deserves to be said again. Lots of stuff going on in this thread that does nothing to help people who are in a bind. Anyone looking for some recourse has to crawl through a bunch of self gratifying ego pumping posts. Can we move on from that already?
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Re: Off-Topic
by
mrthundercleese
on 25/09/2013, 21:27:05 UTC
Some events happened last week, that have forced us to make a decision to go out of business. A lot of issues compounded to press us to do this. The failure of the Klondike project was one. Chase, our bank, shut down our accounts. Also the delay in the shipment of the chips has resulted in a lot of customers asking for refund. We already owe a lot of money to PayPal, and with all the refund requests, it is impossible for us to continue our operation profitably. So we have decided to dissolve the company.

We are going to ask for a refund from Yifu. As soon as we get a refund from him, we will start refunding all the orders. We will be able to refund about 50% of every order with this amount. We are trying to get our money out of Chase, which will help us refund another ~5% of each order. We are trying to return as many components as we can, and as soon as we get more money back, we will send additional pro-rated payments to each order.

Once we get a refund from Yifu, we will be sending an email to everyone asking for a current Bitcoin address where to send the payments.

Well. Sad
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Re: Off-Topic
by
mrthundercleese
on 23/09/2013, 14:50:42 UTC
Lets be serious. They seemed pretty damn legit at the beginning

I'm not a TH buyer so I keep my mouth shut in this thread, but have to comment on this. Hardware vendor selling preorders of other people's design regardless of original designer explicitly stating it's too early to sell? It smelled badly right from the start and was obvious to anyone they are not able to finish the design themselves. That was the reason I stayed away from TH, and it's amazing someone with 30 sample Avalon chips haven't sent 16 of them to TH and called their bluff few months ago. The only reason they sold so many preorders was they are USA company, and you have to admit large, large majority of people who got scammed are from USA. I don't have nothing against someone being his-own-country centric, but sometimes it comes to bite you in the a**. Anyone who claims TH were not extremely fishy right from the start is not telling the truth either to him self or to the others.

TH wasn't any fisher than any other unproven asic hw vendor. You must have forgotten the 4 or 5 other non us based developers working with the klondike who also sold pre-orders. [bold]The difference here is that the others appear to be still active.[/bold]

And how many of those 4 or 5 other non us based Klondike developers scammed thousands of people? Exactly. Zero. Everybody knew they could not deliver on their own. But TH was a USA company so it has to be good, hasn't it?

You asserted that you knew they were not legit from the beginning and that they couldn't deliver on their own and I think that's just not true. They were working with BkkCoins and made many posts in the klondike dev thread so they knew they would need help.

The fact is that they aren't the only klondike developer who sold a bunch of pre-orders and hasn't delivered a product. There are a bunch of people who don't have a product or their money back from both the USA 'company' and non-us based klondike developers. The other developers haven't faded off into the darkness like TH (which is what I said before) so kudos to them.

Not trying to be mean but being captain hindsight doesn't help anyone. It's just self gratification. The right thing to do would have been to try to warn people like btceic and the others. Even though I'm not cool with some of the things that were said by those folks, they did try to warn us and that deserves a compliment.

And lastly, being an american I'm having a problem with your "those damn americans" inference. Yeah, I said it. What now?! I'm only joking with you Smiley. Can we move on now?
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Re: Off-Topic
by
mrthundercleese
on 23/09/2013, 11:07:13 UTC
Lets be serious. They seemed pretty damn legit at the beginning!

I'm not a TH buyer so I keep my mouth shut in this thread, but have to comment on this. Hardware vendor selling preorders of other people's design regardless of original designer explicitly stating it's too early to sell? It smelled badly right from the start and was obvious to anyone they are not able to finish the design themselves. That was the reason I stayed away from TH, and it's amazing someone with 30 sample Avalon chips haven't sent 16 of them to TH and called their bluff few months ago. The only reason they sold so many preorders was they are USA company, and you have to admit large, large majority of people who got scammed are from USA. I don't have nothing against someone being his-own-country centric, but sometimes it comes to bite you in the a**. Anyone who claims TH were not extremely fishy right from the start is not telling the truth either to him self or to the others.

TH wasn't any fisher than any other unproven asic hw vendor. You must have forgotten the 4 or 5 other non us based developers working with the klondike who also sold pre-orders. The difference here is that the others appear to be still active.
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Re: Off-Topic
by
mrthundercleese
on 15/09/2013, 01:52:23 UTC
Relax you bunch of frothing at the mouth trolls, you'll get my response soon Tongue

My second son was born yesterday so I've been a tad busy.

For now I'll say that I'm deeply disapointed in Terrahash at this point and they have definitely lost the respect I had for them. That being said I still hope they salvage their reputation and company from this mess... somehow.

Congrats! Our third child was born just a few weeks ago. A tad busy us an understatement. Smiley

Congrats on your 3rd!

My twins are turning 11 this year, seems like just yesterday they were born! It goes by way to fast.

Twins! My wife would be jealous. She wanted twins.
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Re: Off-Topic
by
mrthundercleese
on 15/09/2013, 01:15:00 UTC
Relax you bunch of frothing at the mouth trolls, you'll get my response soon Tongue

My second son was born yesterday so I've been a tad busy.

For now I'll say that I'm deeply disapointed in Terrahash at this point and they have definitely lost the respect I had for them. That being said I still hope they salvage their reputation and company from this mess... somehow.

Congrats! Our third child was born just a few weeks ago. A tad busy us an understatement. Smiley
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Re: Off-Topic
by
mrthundercleese
on 14/09/2013, 00:59:22 UTC
I think we may see movement on all of our orders in the coming week (2 at the latest).

Really? Aren't your cop senses tingling? I suppose you aren't the slightest concerned that they can't produce a single order in their two week time period, but believe they'll be able to turn around the entire chip shipment in that timeframe. Come on.


You are misinterpreting what he wrote. Movement doesn't equate to entire chip shipment turnaround.
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Re: Off-Topic
by
mrthundercleese
on 12/09/2013, 20:58:50 UTC
http://i1.ytimg.com/vi/YOuDjdN2csw/hqdefault.jpg

BRICKA-BRACKA FIRECRACKER SIS BOOM BA, TERRAHASH TERRAHASH RAH RAH RAH!!!

Someone earlier said we were cheerleaders so I figured I'd go ahead and play the role hahahaha.
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Re: Off-Topic
by
mrthundercleese
on 10/09/2013, 19:18:32 UTC
TerraHash I know your reading this. Come on, seriously. This is fu*king frustrating! I want my refund? Order number 1230. You dont answer tickets or phone calls this is ridicules! Seriously, give me a refund PLEASE.
TH has already said that if you want a full refund it is a 3 month wait.
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Re: Off-Topic
by
mrthundercleese
on 10/09/2013, 13:40:21 UTC
Regarding the project as a whole. Since Yifu is offering chip refunds now, we can go that route. But as you know, chips were only about 50-60% cost in our operation, that is all we would be able to refund everyone.

Another option is to get a refund now, and buy the Gen 2 chips in October. Yifu has announced that the Gen 2 chips will be fully compatible with Gen 1. So, we would be able to use the current boards, heat sinks, cases and most (if not all) of the components. And everyone will get about 8-10 times more hashing power for same price. (This is just an estimate, we will get more details once he releases the specs.) And we'll get another month and a half to sort out the issues with the current design. Instead of depending upon BkkCoins this time, we will hire people here to build upon and improve his design. We will open source everything we do.


I vote wholeheartedly on Refunding and getting Gen 2 Chips, however you guys REALLY REALLY REALLY need to open/answer all of your lines of communication. It is unacceptable that so many emails/tickets/phone calls have gone unanswered.

I also think the open sourcing of the project is a great step to rebuilding your relationship back with the community. If this is the route that is taken, please allow for overclocking room in your design revisions.

I still have faith in you Terrahash and so do others as you can see in this thread, but you have given yourselves a black-eye with your lack of customer service. Thankfully this can be remedied easily with some effort Smiley

I can promise, we will be more open and be better with customer service this time!

Well you couldn't get any worse.   Anyone get any tickets answered after that post?  I'm betting not.

False.

They could certainly be much worse. While they may not have been that great at answering tickets, PMs, and returning phone calls, they have opened their doors to visitors and do post here both in this thread and in the bkkcoins' klondike thread.
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Re: TerraHash to Provide a Hosted Bitcoin Mining Solution for $6/GHash in November
by
mrthundercleese
on 05/09/2013, 19:24:37 UTC
what will be the converson from current orders to this?

In the other thread TH posted this:

If you guys wish, I can bring up the refund issue with Yifu (in case he answers), and get the chips refunded. But we are heavily invested into this. The cases, custom heat sinks, PCBs, parts acquired at higher prices or acquired from secondary market are all non-refundable and impossible to sell. And since we ordered everything for 80,000 chips (40,000 our own and 40,000 anticipated assembly orders). So even with a refund from Avalon (which we highly doubt they will ever give), we might be able to give only a very small partial refund.

But as I said we are working on something new, I request all of you to be a little more patient. We are going to announce something very unique, very exciting and very affordable next week. We really can't give out much details as of now, but in our opinion this would essentially be the final evolution in Bitcoin mining.

All of you know that we have demonstrated the ability to produce and run the boards. We were the first one to successfully assemble a K16, and we were the first to start mining with a fully assembled K16 as well. And we will again demonstrate the ability to mass produce boards once we get the chips.

In my opinion, instead of taking a decision of behalf of everyone and pressing Avalon for refunds, we give everyone the following options individually:

a) If you want 100% refund, you need to give us 3 months time. We fully acknowledge that we are legally required to issue a refund when asked. Legal issues aside, we ourselves want to do the right thing to maintain our credibility. But the fact is we do not have enough liquidity right now to process all the refund requests. If you are willing to settle for a partial refund right now, please contact us and we can work something out.
b) Keep your order with us. We deliver it within the promised time (2 weeks of receiving the chips). We will also give you a 20% (of your current order) credit for our next project which we will be announcing next week. This credit will be transferable (you can sell it if you want).

I hope you understand that we are doing this despite the fact that the current situation is NOT our fault. Everyone who ordered from us were totally aware of the risks involved. Also 20-25% was our average profit per order. So even with option 'b', we are willing to make 0 profit from this whole Avalon saga, just for the sake our next project and to maintain long-term credibility for our company.

We would love to hear your comments on this.

I think means that those of us that decide to keep our Avalon based order could get that + a 20% credit towards this based on whatever we originally spent. So if you spent 5K, you get a 1K credit towards this one. Not exactly a current order conversion but it's something.

TH did I read that right?

Yes, that's right.

what about my current order?

You'll still get your current order when the Avalon chips arrive. The 20% credit is in addition to your current order, assuming you keep it.

jelin1984, this is the answer to your question as well.
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Re: TerraHash to Provide a Hosted Bitcoin Mining Solution for $6/GHash in November
by
mrthundercleese
on 05/09/2013, 18:39:53 UTC
what will be the converson from current orders to this?

In the other thread TH posted this:

If you guys wish, I can bring up the refund issue with Yifu (in case he answers), and get the chips refunded. But we are heavily invested into this. The cases, custom heat sinks, PCBs, parts acquired at higher prices or acquired from secondary market are all non-refundable and impossible to sell. And since we ordered everything for 80,000 chips (40,000 our own and 40,000 anticipated assembly orders). So even with a refund from Avalon (which we highly doubt they will ever give), we might be able to give only a very small partial refund.

But as I said we are working on something new, I request all of you to be a little more patient. We are going to announce something very unique, very exciting and very affordable next week. We really can't give out much details as of now, but in our opinion this would essentially be the final evolution in Bitcoin mining.

All of you know that we have demonstrated the ability to produce and run the boards. We were the first one to successfully assemble a K16, and we were the first to start mining with a fully assembled K16 as well. And we will again demonstrate the ability to mass produce boards once we get the chips.

In my opinion, instead of taking a decision of behalf of everyone and pressing Avalon for refunds, we give everyone the following options individually:

a) If you want 100% refund, you need to give us 3 months time. We fully acknowledge that we are legally required to issue a refund when asked. Legal issues aside, we ourselves want to do the right thing to maintain our credibility. But the fact is we do not have enough liquidity right now to process all the refund requests. If you are willing to settle for a partial refund right now, please contact us and we can work something out.
b) Keep your order with us. We deliver it within the promised time (2 weeks of receiving the chips). We will also give you a 20% (of your current order) credit for our next project which we will be announcing next week. This credit will be transferable (you can sell it if you want).

I hope you understand that we are doing this despite the fact that the current situation is NOT our fault. Everyone who ordered from us were totally aware of the risks involved. Also 20-25% was our average profit per order. So even with option 'b', we are willing to make 0 profit from this whole Avalon saga, just for the sake our next project and to maintain long-term credibility for our company.

We would love to hear your comments on this.

I think means that those of us that decide to keep our Avalon based order could get that + a 20% credit towards this based on whatever we originally spent. So if you spent 5K, you get a 1K credit towards this one. Not exactly a current order conversion but it's something.

TH did I read that right?
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Re: Off-Topic
by
mrthundercleese
on 04/09/2013, 17:48:51 UTC
endgame is clear - TH will drag & bullsh** until 180GH miners market price becomes pennies on dollars in term of original price all the buyers paid (given current situation, we not that far off), they will then just purchase and deliver those near worthless hardware to the poor saps who paid with btc/wire transfer and consider it complete, pocketing rest of the $ and walk away clean.  

and there is absolutely nothing you can do about it.

if anyone who paid with paypal or credit card and still have not filed for a chargeback at this point, you deserve to lose your money. Sorry to be mean spirited but it's the truth.

Anybody that is defending them at this point is complicit in the theft of your BTC, I would be surprised to learn that bargraphics and the rest are not sock puppets or paid shills.

Not either of those. Just patient. Wish I was paid though. :-)

I will admit that TH is making it very difficult for those of us who are defending them to continue to do so.
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Re: Off-Topic
by
mrthundercleese
on 30/08/2013, 00:15:28 UTC
...
We would love to hear your comments on this.
im in it for the long haul.

I trust you.

I concur with this sentiment. If it wasn't apparent from my prior comments I am in your corner TH. I'd prefer HW Instead of a refund so hopefully we can make that happen Smiley one way or another.
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Re: Off-Topic
by
mrthundercleese
on 24/08/2013, 19:20:33 UTC
I'm legitimately curious - would you have the same opinion if, for example, you pre-ordered (and paid in full up front) say a PS4 from gamestop and they said no refunds, and then Sony didn't deliver PS4s to their customers, didn't tell anyone what what going on for weeks on end and then came up with some shaky excuses and went silent again and nobody had any idea when or even if the PS4s would ever show up?
Would you just sit back and say yo gamestop it's cool; I know it's not your fault and you've got my money, and I have no merchandise, but I'll just wait until who knows when?
What if the unthinkable occurred and the PS4s never showed up?  What would you do then?

 
I'll give you a legitimate response.  One that seems to escape most people.  If you buy on pre-order a PS4 from Sony you're buying a 4th generation product from an electronics giant.  A company that's been around for a few decades.  If you equate Terrahash, a company that has only just been created, with the sole purpose of making a bitcoin mining rig with Avalon chips that are as rare as hens teeth, then you're bat shit crazy delusional.

And if in the case of the PS4 being non-deliverable you know that Sony would do a full refund, because the pre-orders they took weren't to fund its development, but a marketing ploy to generate demand and a feeding frenzy.

Be pissed all you want, its an aggravating situation all around, but try at least to hang on to some sense of reality.  Comparing a fledgling company in a fledgling industry to the likes of Sony is one step away from that reality.


Here is the problem with your statement:

The difference is that it doesn't matter whether they are a 100 year old billion $ company or a brand new start-up, neither company can use customer money to fund their business, that is called investing, non of us agreed to invest in their company, did you? would you?

This is not kickstarter!

You aren't entirely wrong. However, we knew the lines where blurry and we put our money in anyway. Call it customer, investor, investomer, or something else. History should have highlighted the risks of this pre-order business. Things can go wrong and I'm not going to bash TH for something that was out of their control. Have they done some things wrong, sure and they owned up to it. They've shown hospitality in this thread and to those who visited them so I'm not seeing the evilness.


Most people are disagreeing with you, you seem to be implying that there is this vast silent magority that are behind you. Well lets see them?

Just because there are a few squeaky wheels on here doesn't make them a majority hah. If most people were disagreeing with me then Terrahash would be bankrupt right now. But since you insist on playing the "Who's on my side game" I'll just toss names here on people that disagree with YOU

In order that I scan through the thread

mrthundercleese
-Redacted-
BlIiTtZz
gbx
knightlife999
ak49er

Just to name a few,

Oh and again everyone that has a PayPal or Credit Card order and has not asked for a refund.

Check and Mate




Everyone knows that the unhappy people always make the most noise. Smiley
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Re: Off-Topic
by
mrthundercleese
on 24/08/2013, 14:06:08 UTC


They wont answer this because they are delusional, have no other recourse but to wait or they are simply to proud to admit they backed a lame horse.

I tend to equate it more with the typical issue of such and such doesn't bother me so it shouldn't bother anybody else.
I've never said anybody else should get refunds or be pissed at TH or be mad or anything.  I've not once said that anyone should share my opinion; only recognize that those of us who choose to use the relevant laws and regulations for their intended purpose aren't doing anything wrong.
It's a little off-putting to have the other side keep insisting that those of us who recognize and acknowledge that the situation isn't TH' fault but that doesn't change the fact that we aren't willing to sit back and lose our money are doing something wrong, or are assholes, or whatever.

It's also a bit mind boggling the apparent attitude people have that 'we took the risk' and don't seem to think that any risk should be borne by TH- yes we took a risk.  We took a risk that merchandise would be delivered late or not at all, but that risk was tempered (for those of us in the US) by consumer protection laws that say we are entitled to 100% of our money back if we don't get our merchandise.  TH is looking to profit as a business; that means taking the risk that your supplier doesn't deliver, your project fails, whatever and you have to return everyone's money.

Why do they seem to think that TH should get a pass and be able to make a profit while bearing no risk, putting 100% of the risk on the customers?  I honestly can't wrap my head around it.
The only thing I can come up with is it's like the whole Apple/Android thing - some people are rabid about defending their chosen camp



TH did take a risk. They allowed us to buy with PayPal. They haven't broken their promise of deliveries 2 weeks from the date the Avalon chips arrive. August 15 has come and gone but of no fault of TH. The bad guys here you all that are pulling out.

Rule #1 of bitcoin, don't in money you aren't willing to lose Smiley.

TerraHash took almost no risk, they gambled with the communities money, not their own. How much have they actually risked of their own funds? Did they take a small business loan? Just to clarify, there is a huge difference between investors and customers.

The original assertion was that TH put 100% of the risk on the customer which is not true. How much risk they took isn't relevant. We all knew there was a possibility that this could happen.
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Re: Off-Topic
by
mrthundercleese
on 24/08/2013, 05:48:58 UTC


They wont answer this because they are delusional, have no other recourse but to wait or they are simply to proud to admit they backed a lame horse.

I tend to equate it more with the typical issue of such and such doesn't bother me so it shouldn't bother anybody else.
I've never said anybody else should get refunds or be pissed at TH or be mad or anything.  I've not once said that anyone should share my opinion; only recognize that those of us who choose to use the relevant laws and regulations for their intended purpose aren't doing anything wrong.
It's a little off-putting to have the other side keep insisting that those of us who recognize and acknowledge that the situation isn't TH' fault but that doesn't change the fact that we aren't willing to sit back and lose our money are doing something wrong, or are assholes, or whatever.

It's also a bit mind boggling the apparent attitude people have that 'we took the risk' and don't seem to think that any risk should be borne by TH- yes we took a risk.  We took a risk that merchandise would be delivered late or not at all, but that risk was tempered (for those of us in the US) by consumer protection laws that say we are entitled to 100% of our money back if we don't get our merchandise.  TH is looking to profit as a business; that means taking the risk that your supplier doesn't deliver, your project fails, whatever and you have to return everyone's money.

Why do they seem to think that TH should get a pass and be able to make a profit while bearing no risk, putting 100% of the risk on the customers?  I honestly can't wrap my head around it.
The only thing I can come up with is it's like the whole Apple/Android thing - some people are rabid about defending their chosen camp



TH did take a risk. They allowed us to buy with PayPal. They haven't broken their promise of deliveries 2 weeks from the date the Avalon chips arrive. August 15 has come and gone but of no fault of TH. The bad guys here you all that are pulling out.

Rule #1 of bitcoin, don't in money you aren't willing to lose Smiley.
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Re: Off-Topic
by
mrthundercleese
on 24/08/2013, 04:47:02 UTC
wtf - this thread sucks.


you just now realizing that...lol. I guess some are just content to wait until the cows come home" by golly!

And I guess waiting for the cows to come home seems like the only thing one can do in this point.  Forcibly refunding seems dishonest to me; what else is there to do?

I'm legitimately curious - would you have the same opinion if, for example, you pre-ordered (and paid in full up front) say a PS4 from gamestop and they said no refunds, and then Sony didn't deliver PS4s to their customers, didn't tell anyone what what going on for weeks on end and then came up with some shaky excuses and went silent again and nobody had any idea when or even if the PS4s would ever show up?
Would you just sit back and say yo gamestop it's cool; I know it's not your fault and you've got my money, and I have no merchandise, but I'll just wait until who knows when?
What if the unthinkable occurred and the PS4s never showed up?  What would you do then?

 

They wont answer this because they are delusional, have no other recourse but to wait or they are simply to proud to admit they backed a lame horse.

Yeah I know plenty of folks who had to wait a long time for their ps3 pre-order because Sony didn't ship enough to the retailers initially. Noone burned down any gamestops.

We all knew there was a chance this thing would arrive late . That's the game in the bitcoin arena at the moment. Everyone delivers late. Not just TH. I still believe TH will deliver once Avalon does. Barking at TH won't make things magically appear so it's wasted effort.
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Re: Off-Topic
by
mrthundercleese
on 17/08/2013, 14:00:58 UTC
So an interesting thing happened yesterday to another non-bitcoin related pre-order I made recently.

Quote
Dear Valued Guest,

Thank you for shopping at Toys"R"Us and Babies"R"Us!

We wanted to inform you that we have not yet received inventory on your Wii U Infinity Starter Pack pre-order which was expected in-store on August 18th, 2013. We will send you a follow-up email once this item is available and ready for pickup.

If I've learned anything from this thread then I should be getting out my torch and pitch fork, calling my lawyer, filing a complaint with the FTC, and starting a riot.

hahahaha.

I post this just to illustrate that even non-startups have problems fulfilling pre-orders sometimes Smiley.
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Re: Off-Topic
by
mrthundercleese
on 13/07/2013, 03:58:11 UTC
I have chosen to request a refund, it is as simple as that, they should honor that, why is that so hard for everybody to understand and appreciate? I will not allow them to ignore my requirements for a refund.

Everyone understands. We just don't care about your problems. Most of us think terrahash will deliver on what they originally promised us and are hanging tight. You continue to spam the thread with your refund request. We heard you the first time, and the second, and the third, and the 100th. It's clear that we aren't going to rally against terrahash so you are just throwing noise in what has otherwise been a positive last few days.