Hey guys,
I agree with mostly everyone here. Of course, noone wants a stupid lawsuit, but if that’s what it will get down to, I’ll join the class.
We all purchased your contracts as a speculation to be there from the first moment, that did not happen and results are still unstable. I paid ~ 3 BTC = ~ $2,100 for a 3 month tiny 36 sol/s contract. Now, two days later, I can get that same power from a XFX 470 4gb that’s on sale at Best Buy this week for $199.
So yes, given the fact that you did not deliver from the start, this was a misleading investment. I would like a full refund, I am happy to transfer you all zcash that were mined through you back and even point some of my current 200 sol/s your way if you want the sol back.
Now that I got this off my chest - I understand you guys want to focus on getting everything sorted out first. I understand you don’t want to make promises here only because people pressure you right now. Hope you guys get everything sorted out in the next 24 hours and that then, you guys will do the right thing → Offer a refund to the people that want it.
I am inclined to agree with this. I purchased a substantial long term (12month) contract from @jtoomim , under the impression that the H/s metric would be upgraded as technology upgraded, and was simply a first day proxy for a certain amount of GPU. And I wired the money, didn’t pay with BTC. I don’t see any formal contract that I signed, and the terms listed above in the thread referred to the original auction, not the purchase I made. Now if the H/s I purchased (200) was actually delivered, from day 1, then I think although I would continued to feel deceived, I’m not sure I would seek recourse.
But since the hash rate wasn’t delivered, and for many customers it still seems to be quite buggy, and the fact that “All sales are final” is really insufficient protection given the implied terms of the contract were not filled by the service provider — well, they have a technical obligation to their customers to remedy the technical flaws that reduced purchased mining capacity, which it looks like there is some willingness to do so. But I think there is also a moral obligation to fix the severe customer unhappiness and errors in the positioning…if only for their long term reputation. If they have what they say they do, extremely cheap power, then they have a long term business hosting mining rigs for people.
I haven’t posted much yet or contacted @jtoomim directly as I know he his overwhelmed at this point and don’t think this is the time to discuss refunds, but I myself would prefer either a full refund what I consider to be a full breach of contract, simply on the grounds because they sold something they were technically unable to deliver, regardless of terms—all of their posts here show evidence that they didn’t/couldn’t test their service adequately in advance to reliably sell it, or a substantial revision to the long term hashrate being delivered to both make up for the loss in the first day spike, and the moral outrage of being sold something that wasn’t actually what I got (in the near term and in the long term).
I think we should hold off on any pending legal action or pressure before we know what exactly the terms. @jtoomim I would highly recommend you avoid trying to spend time to figure out an “exact calculation” of what was lost. From a customer standpoint, that doesn’t make up for the stress and still makes it look like you aren’t in the business of serving your customers and making sure they are happy with your service long term. Now you may not care to be in that business, or it may not be consistent with your personality, but you ARE in that business—and as a marketer, I can assure you, that over-optimizing just makes your concern look more selfish instead of openly apologizing, being flexible with making customers happy, and generally not trying to nickel and dime your way to a solution to this.
Good luck on solving the technical issues and I’ll await announcement via email what your proposals are. Personally, I think offers of significant partial cash refunds, substantial overdelivery, or changes to implied contract power are due. If you help your customers make money, you have a long term business. If you seek to position yourself as simply a counterparty to an “objective agreement that was entered to without coercion” as you have in the past (which now of course needs to be remedied due to failure to deliver), you’re going to just incite more rage.
-Alex
