Official BITMINE CoinCraft series 28nm ASIC miners thread

[rufu]

The support should be available at 10:00 - 12:00 and 14:00 - 16:00.
He tried it at 14:20 and 15:55...nobody there...I have the exact timestamps from our Facebook conversation...

And no, it's not a lie lol...why should I lie?

sometimes you must wait 10 oder 15 minutes...

Dear Wolke, waiting 10 or 15 minutes for a bitmine callcenter agent means you are wasting 10 or 15 minutes of your live.
Talking to them is useless. Two weeks ago they told me: “Shipping end of next week”

This week they told me (at least more realistic now): “We don’t know...”
Of course, they can’t know after this what I was reading this week from Zefir:

We remember the famous posts of Mr. Massarotto: “Production started” and “First units leaving our warehouse this week”.
But what happened? After posting this relevant information they realized, they don’t have PCBs available.  They have weeks of delay and they don’t take care for all parts being available?

What will happen next? They are missing the screws or the screwdrivers?
I don’t want to waste more time, I stopped calling them.
E-mail and telephone obviously is not a proper way to communicate with Bitmine AG.

[segaklon]

Me not liking anything the last thread, and not to think but my question is this.

We have lost our money and mining? All this has been a scam?

Please someone clarify this bitmine I start to get nervous and so many lies.

[Cheshyr]

I have chips in hand, as do other people.  Some of the DIY community is already shipping A1 based products.  It's not a scam.  However, it sounds like mistakes were made, and they got a little over-enthusiastic in annoucing their success.  Now, they're being very careful what they say.

They will ship; it's a question of when.  I hope you see your product soon.

[Tegija]

I have chips in hand, as do other people.  Some of the DIY community is already shipping A1 based products.  It's not a scam.  However, it sounds like mistakes were made, and they got a little over-enthusiastic in annoucing their success.  Now, they're being very careful what they say.

They will ship; it's a question of when.  I hope you see your product soon.

they are just not saying anything.

yeah, you are right, i´m sure they will ship, but first when we can't make any profit anymore...
 

[drbell]

I've seen a few people talking about claiming back their money and an additional 10%

I get the feeling that BITMINE want you to claim back your bitcoins.  Look at it from BITMINEs point of view.  I am going to use my purchase as an example, I know that not everyone paid the same.

I paid approx $6000 for a Coincraft Desk, at the time this was 6 BTC. BITMINE would have converted this straight away into $6000. If I now ask for my money back, BITMINE will have to buy 6BTC to pay me back, which at current rates is about $3300, if you then add on the 10%, that becomes $3630.  

I gave BITMINE $6000 (6 BTC) they will send me back only $3630 (6 BTC), so that's a profit of £1300 per miner.  Not only that, they have a shinny new miner that they can mine with or sell for $6000.

The bottom line is for everyone that asks for a refund BITMINE will get $1300 and a miner.

If BITCOIN can hold the deliveries until the 60 day refunds kick in, and people start to claim back their money, then they will be rolling in money and miners.  
Maybe this is why the miners have not yet been delivered, they want to drag their heels until the refund policy kicks in and hope that people ask for refunds.

Me Paranoid ... Probably ... BITMINE scheming gets ... Highly Likely ...

[E]

I've seen a few people talking about claiming back their money and an additional 10%

I get the feeling that BITMINE want you to claim back your bitcoins.  Look at it from BITMINEs point of view.  I am going to use my purchase as an example, I know that not everyone paid the same.

I paid approx $6000 for a Coincraft Desk, at the time this was 6 BTC. BITMINE would have converted this straight away into $6000. If I now ask for my money back, BITMINE will have to buy 6BTC to pay me back, which at current rates is about $3300, if you then add on the 10%, that becomes $3630. 

I gave BITMINE $6000 (6 BTC) they will send me back only $3630 (6 BTC), so that's a profit of £1300 per miner.  Not only that, they have a shinny new miner that they can mine with or sell for $6000.

The bottom line is for everyone that asks for a refund BITMINE will get $1300 and a miner.

If BITCOIN can hold the deliveries until the 60 day refunds kick in, and people start to claim back their money, then they will be rolling in money and miners. 
Maybe this is why the miners have not yet been delivered, they want to drag their heels until the refund policy kicks in and hope that people ask for refunds.

Me Paranoid ... Probably ... BITMINE scheming gets ... Highly Likely ...

The people who are approaching (or are in?) eligibility for refunds paid a bit more than 6 BTC. Try 60+... My mining profitability spreadsheet shows I paid 0.062BTC/ghash/s for my 1TH desk order. That was 168 days ago, btw; lead time for my Feb. ordered little single was 248 days from order...

I have no plans for a refund request, but if I did, I definitely wouldn't be expecting my BTC back XD

[BuTaJIu4eK]

Promised week delivery has already passed, and ASIC miners - no!
  Bravo Bitmine 
 
 



P.S. At the rate of exchange which awakes Returns Bitcoins?

[ujka]

I've seen a few people talking about claiming back their money and an additional 10%

I get the feeling that BITMINE want you to claim back your bitcoins.  Look at it from BITMINEs point of view.  I am going to use my purchase as an example, I know that not everyone paid the same.

I paid approx $6000 for a Coincraft Desk, at the time this was 6 BTC. BITMINE would have converted this straight away into $6000. If I now ask for my money back, BITMINE will have to buy 6BTC to pay me back, which at current rates is about $3300, if you then add on the 10%, that becomes $3630.  

I gave BITMINE $6000 (6 BTC) they will send me back only $3630 (6 BTC), so that's a profit of £1300 per miner.  Not only that, they have a shinny new miner that they can mine with or sell for $6000.

The bottom line is for everyone that asks for a refund BITMINE will get $1300 and a miner.

If BITCOIN can hold the deliveries until the 60 day refunds kick in, and people start to claim back their money, then they will be rolling in money and miners.  
Maybe this is why the miners have not yet been delivered, they want to drag their heels until the refund policy kicks in and hope that people ask for refunds.

Me Paranoid ... Probably ... BITMINE scheming gets ... Highly Likely ...

It's just the opposite.
They priced their hardware in $, bitcoin was only used as a payment method.
You paid $6000, for this you nedded to send 6 btc at that time.
Your refund is $6600. Right now, you can buy 11 btc with that.

[Daveb0]

They priced their hardware in $, bitcoin was only used as a payment method.
You paid $6000, for this you nedded to send 6 btc at that time.
Your refund is $6600. Right now, you can buy 11 btc with that.

From their TOS

5.4 Once you have notified Bitmine that you are cancelling the contract, Bitmine will verify that it complies with our refunds policy and, if confirmed, will refund you within 30 days of receiving notice of such cancellation for any sum that has been paid by you on that specific order. Refund will be made either by bank wire transfer or by Bitcoin payment depending on the original payment method

I would expect you the the btc back in case you paid in btc.
And yes I know, now the guys who paid in btc when it was at around 1k will complain - if it would be the other way round, the guys who paid when the btc was at around 100 would complain.
There will alway be somebody complaining, who does not realize, that this is the inherent foreign exchange risk you take when you buy/sell/trade in different currencies.

[Biomech]

They priced their hardware in $, bitcoin was only used as a payment method.
You paid $6000, for this you nedded to send 6 btc at that time.
Your refund is $6600. Right now, you can buy 11 btc with that.

From their TOS

5.4 Once you have notified Bitmine that you are cancelling the contract, Bitmine will verify that it complies with our refunds policy and, if confirmed, will refund you within 30 days of receiving notice of such cancellation for any sum that has been paid by you on that specific order. Refund will be made either by bank wire transfer or by Bitcoin payment depending on the original payment method

I would expect you the the btc back in case you paid in btc.
And yes I know, now the guys who paid in btc when it was at around 1k will complain - if it would be the other way round, the guys who paid when the btc was at around 100 would complain.
There will alway be somebody complaining, who does not realize, that this is the inherent foreign exchange risk you take when you buy/sell/trade in different currencies.

At last, a man with a brain!

[trek27]

Point 5.4 of TOS in any way guarantees that someone being refunded in bitcoins would obtain the same amount he had paid (in btc that is). Yes,  they allowed making wire transfers (USD, EUR) and bitcoin payments. But does anyone has an invoice with amount expressed in Btc? I ask for invoice and not, for example, confirmation of payment.

It would be really extremely strange for a company like Bitmine to take on the risk related to USD/Btc rate. Most probably in case of refunding they will calculate due amount in USD (according to CPP) and then use the same method of exchange to Btc they used while receiving payment. Why? Because almost surely they immediately exchange all received bitcoins to fiat as all their costs and contracts are in fiat.

Anyway, if someone asks for a refund (and paid in bitcoins), please, let us know how Bitmine handles such refund.

 

[ujka]

Hashfast thread went for hundred pages about this  

My understanding is:
Goods are priced in $, bitcoins were used as method of payment, amount calculated at date of payment.
Refunds are in $ also, returned by the method of payment originaly used. If that's BTC, amount will be calculated at the time of refund.

[manali9]

Did someone recieved his Coincraft till today?
How do I know what is my queue position?

[QuestionTime]

They priced their hardware in $, bitcoin was only used as a payment method.
You paid $6000, for this you nedded to send 6 btc at that time.
Your refund is $6600. Right now, you can buy 11 btc with that.

From their TOS

5.4 Once you have notified Bitmine that you are cancelling the contract, Bitmine will verify that it complies with our refunds policy and, if confirmed, will refund you within 30 days of receiving notice of such cancellation for any sum that has been paid by you on that specific order. Refund will be made either by bank wire transfer or by Bitcoin payment depending on the original payment method

I would expect you the the btc back in case you paid in btc.
And yes I know, now the guys who paid in btc when it was at around 1k will complain - if it would be the other way round, the guys who paid when the btc was at around 100 would complain.
There will alway be somebody complaining, who does not realize, that this is the inherent foreign exchange risk you take when you buy/sell/trade in different currencies.

I agree with ujka as the price of miners was not denominated in BTC, BTC was merely the agreed method of payment and therefore the agreed value of goods for purchase or refund remains as USD. Therefore, I believe the bolded section of 5.4 refers only to method of refund and not the value of refund which is denominated in USD.

Just my interpretation, ultimately it's up to bitmine or the court judge.

[Wolke]

Did someone recieved his Coincraft till today?
How do I know what is my queue position?

you can call them or write a mail ^^

[Wolke]

the phone was ringing over 20 minutes -> no one, only musik.... wtf....

[georgem]

They priced their hardware in $, bitcoin was only used as a payment method.
You paid $6000, for this you nedded to send 6 btc at that time.
Your refund is $6600. Right now, you can buy 11 btc with that.

From their TOS

5.4 Once you have notified Bitmine that you are cancelling the contract, Bitmine will verify that it complies with our refunds policy and, if confirmed, will refund you within 30 days of receiving notice of such cancellation for any sum that has been paid by you on that specific order. Refund will be made either by bank wire transfer or by Bitcoin payment depending on the original payment method

I would expect you the the btc back in case you paid in btc.
And yes I know, now the guys who paid in btc when it was at around 1k will complain - if it would be the other way round, the guys who paid when the btc was at around 100 would complain.
There will alway be somebody complaining, who does not realize, that this is the inherent foreign exchange risk you take when you buy/sell/trade in different currencies.

At last, a man with a brain!

Antonio (from Bitmine) told me you will only get dollars back. NEVER btc.
Like most businesses accepting BTC they immediately convert their BTC to dollars/chf thru exchanges like bitstamp etc.. and don't hold any BTC recieved by customers.

[michal1]

Has anyone ever seen this big company or a factory? Do you have any real photos?

[Ultros]

I refrained myself from posting until now because I rather be a lurker usually but I really don't understand what is going on.

I'm really trying hard to not give in to despair and rage.

A lot of people must be calling them and spamming their mailbox to get information. That must be stressful and time-consuming for them. I don't get why they can't spend 10 minutes posting some news to diminish that annoyance. Wouldn't that be best for Bitmine to give their clients some reasons to wait patiently instead of flipping out?
Is that really less painful for them to be hammered with requests and threats than posting 2 lines on their homepage? Something like "We're really sorry to announce a one-week delay in our shipping schedule because of (insert a reason here). Thanks you for your understanding".

Nothing is worse than silence. Gorgiomassa Is logging almost everyday on this forum and stay online for 5-10min. I see him each time and each time I wonder if he'll finally post some info and nothing happens. Why?

I still think they'll deliver and are just having a chain of bad luck. The mining business is full of obstacles and risk, everyone with a brain agreed to that when preordering... but that lack of communication wasn't expected. It is really deteriorating the situation.

I must thanks Zefir for bringing some insight but that can't replace an official statement unfortunately.

Please GM, with all due respect, say something.

[ujka]

Has anyone ever seen this whole kind of a big company or a factory? Do you have any real photos?

They are not a big company with big factory - they have contracts with pcb manufacturers and assemblers. When boards are assembled and returned to bitmine, they put them in case(s), and ship.