Black Arrow 28nm 100Ghash Bitcoin ASIC from $0.49/GH/s

[terrapinflyer]

I dont know, but I can't get any response from Bobsag3, Matt or Thomson for about 1 week about refund. That really look suspicious for me now.

Ive been trying for days also. Now that they moved the site my order has disappeared all together. Not really giving me a warm fuzzy feeling...

[bobsag3]

I dont know, but I can't get any response from Bobsag3, Matt or Thomson for about 1 week about refund. That really look suspicious for me now.

Ive been trying for days also. Now that they moved the site my order has disappeared all together. Not really giving me a warm fuzzy feeling...

http://minersource.net/blogs/news/13162513-new-website
We have the customer data, and are moving over the order data. Shopify is a much much better platform than spree, and I feel that bitpay works better than coinbase, especially for invoices.

[bobsag3]

Does that mean people who ordered in November on BigCommerce will finally have their orders transferred?

Correct. Spree ended up being such a PITA for us we changed to a 3rd platform that is easy to move all the data too.

[conderus]

Black Shit,not black arrow,only knc and bitmain.

[ChuckBuck]

Black Shit,not black arrow,only knc and bitmain.

KNC, you mean that company that's probably mining with all their customers preorder money, built a state of the art mining facility, and still had enough customer money leftover to finance their Titan scrypt miner project?

Yea, really it's just Bitmain, the trillion Coincraft clones,  and Spondoolies Tech at the moment.

[drewage]

Yea, really it's just Bitmain, the trillion Coincraft clones,  and Spondoolies Tech at the moment.

Are Spondoolies really shipping product?  I just looked at their site and I don't see anything available until May 1 at the earliest.

[jimmothy]

Yea, really it's just Bitmain, the trillion Coincraft clones,  and Spondoolies Tech at the moment.

Are Spondoolies really shipping product?  I just looked at their site and I don't see anything available until May 1 at the earliest.

They are shipping early orders.

Many already have their miners in hand.

[descarte]

I am in batch 1 and they said they can only refund after may 1, after they ship their products. Can someone explain why?

This is so unprofessional.

"We received clarification from our management regarding bank transfer refunds in USD and other FIAT currencies.
The date for all FIAT refunds is after May 1st, we will be able to issue refunds after we ship our products.
Unfortunately we cannot provide refund in FIAT currencies at the earlier date.

We apologize for inconvenience it may cause to you.

Sincerely,
Sylvia"

[y_boonstra]

Because then they are mining with unsold products.

[y_boonstra]

Yea, really it's just Bitmain, the trillion Coincraft clones,  and Spondoolies Tech at the moment.

Are Spondoolies really shipping product?  I just looked at their site and I don't see anything available until May 1 at the earliest.

They are shipping early orders.

Many already have their miners in hand.

I don't believe that, do you have proof?

[raskul]

Yea, really it's just Bitmain, the trillion Coincraft clones,  and Spondoolies Tech at the moment.

Are Spondoolies really shipping product?  I just looked at their site and I don't see anything available until May 1 at the earliest.

They are shipping early orders.

Many already have their miners in hand.

I don't believe that, do you have proof?

look at their thread. pictures of rigs on pallets.

[primer10]

lots of truth ..

[zurg]

About a week and a half ago I offered my assistance to BlackArrow.
I come from an IT environment as well as extensive Customer Support experience.
For about a week I have been talking back and forth with all the members of BlackArrow trying to grasp their business structure as well as their processes.
I currently do not have access to their ticketing system yet but it's being worked on.
My purpose in helping them is simple. I want my 2 X-3's in May, lol.
What I am going to try is offer constructive criticism, improve customer relations and will try to provide you with some answers.

Speaking of answers I have an important update. They are currently working on processing BTC refunds. Refunds will start to be paid by the end of this week. FIAT refunds are still being delayed until 1st batch gets shipped.

If you have any private questions you want me to look into, please PM me and I'll see what I can do.

Thanks.

[raskul]

this is all getting very itchy with the 12th april fast approaching.
i hate to be the harbinger of doom but... (steps out of tardis) - watch out the commie guard are kicking down doors.

[zurg]

About a week and a half ago I offered my assistance to BlackArrow.
I come from an IT environment as well as extensive Customer Support experience.
For about a week I have been talking back and forth with all the members of BlackArrow trying to grasp their business structure as well as their processes.
I currently do not have access to their ticketing system yet but it's being worked on.
My purpose in helping them is simple. I want my 2 X-3's in May, lol.
What I am going to try is offer constructive criticism, improve customer relations and will try to provide you with some answers.

Speaking of answers I have an important update. They are currently working on processing BTC refunds. Refunds will start to be paid by the end of this week. FIAT refunds are still being delayed until 1st batch gets shipped.

If you have any private questions you want me to look into, please PM me and I'll see what I can do.

Thanks.

Since they were supposed to convert the bitcoins into currency at the time of purchase in order to pay for the production of the miners, will refunds be for the amount of bitcoins paid or for the order?  Certainly they do not have any bitcoins since everything is being used to fund the production run...and as such we should receive the USD value back from a refund correct?

I read that before, not really sure what they did regarding the conversion from BTC to FIAT. I paid in BTC myself.
I'll try to find out but technically as an outsider I kind of doubt they will let me dip into their financial stuff, but at least I'll present the question.
Thanks

[HardwareReviewer]

http://www.coindesk.com/mining-hardware-companies-miners-roundup/

[Dot99lr]

They are obligated to immediately cash out per their customer agreement, which they are admittedly not doing --

11.3 The Purchaser understands and agrees that we will use his payment in order to purchase the necessary materials or pay workmanship required to fulfill his pre-order which will be non-refundable if cancelled. For this reason, the purchaser hereby gives us the right and agrees with our decision to decline any requests from him or third parties to cancel his pre-order.

It doesn't say anything about converting Btc into Fiat. It just says they'll use his payment to pay for materials or workmanship. They could be paying in bitcoins.

[zurg]

They are obligated to immediately cash out per their customer agreement, which they are admittedly not doing --

11.3 The Purchaser understands and agrees that we will use his payment in order to purchase the necessary materials or pay workmanship required to fulfill his pre-order which will be non-refundable if cancelled. For this reason, the purchaser hereby gives us the right and agrees with our decision to decline any requests from him or third parties to cancel his pre-order.

It doesn't say anything about converting Btc into Fiat. It just says they'll use his payment to pay for materials or workmanship. They could be paying in bitcoins.

You're correct, it doesn't say immediately in 11.3
They had to manually cash out from BTC to FIAT. From what I remember in December or January they said they used BTC-e.
Now how often would somebody be able to manually check out? Making that for every order would be tedious process depending on how many orders they are taking though.
I would say allocating some time every few days would be ideal usage of time.

Also, at some point they said that the vendors or whoever was taking payments only in FIAT. So they had to convert. Now keep in mind some local vendors they are dealing with could be taking BTC payments, we just don't know that.

[ernie-]

Failing to cash out immediately necessarily means that they are speculating with customer funds, which means that customer funds are not actually used to pay for expenses as indicated in their policy, it means that customer funds are used to fund speculative holdings of BTC which then may later be applied to expenses. The only reason they would do this in the first place is if they believed they would make a profit doing so on top of the actual business.

This might actually explain a lot about what's going on. I've never heard of a single person actually seeing Bitcoin leave the payment address for a batch 1 customer. That would indicate that they took a capital loss on revenue in the range of 33-50% or more during the period in which batch 1 customers would've made payments. That alone can entirely explain the refund situation, as refunding batch 1 has to operate like a Ponzi where they wait for new funds to pay existing promises.

Their original payment website for batch 1 said something along the line of refusing to do business with customers that are going to resubmit orders to get the best exchange rate before executing. That probably should've been an indication of what they had in mind all along.

Sounds like speculative nonsense to me, my payment was certainly cashed out back in January.

[tempestb]

Because sending a bank wire is a huge pain in the ass vs sending Bitcoins is probably the reason they are refunding in Bitcoins.  There are also fees involved in sending wires.  The one thing that makes sense is to send a refund in Bitcoin.  Not sure what the big deal is.  They may have used the money they originally had.  They do mine there with their existing hardware from what I understand, so they probably have some coins in a pool that they can distribute but it's probably not a lot.  And then they have people still paying for new orders from time to time.

Not that much of a mystery really.  Anyway, I could care less, I just want to see my miner ship by May 1st.  If it does not, I want to see added compensation or I'll request a refund as well.