Mining Hardware Company Alpha Technology: Bad Luck or Bad Business?

CCN received a peak from a customer who wasgoed very, very unhappy with an often unmentioned Bitcoin mining hardware uitrusting, Alpha Technology. Here is what he said:

This story is the same spil KnC’s some guys claiming they could produce a scrypt miner and that they were based te England. I ordered back ter May 2014, since then all wij get are emails about every Three months telling us thank you for our patience and that they’ll finalize soon. When contacted they deny all requests for refunds and often times they disregard your emails.

Here the tipgever is clearly referring to the methodology and stall tactics employed by KnC miner, who, judging by the terugkoppeling from this verslaggever’s article about KnC, have more dissatisfied customers than actual fulfilled orders.

Pre-Order or Vaporware Scam?

The overeenkomst with Alpha Technology is, like happens too often te the mining industry, they are not selling a finished product. They are selling a promise of one, and like with many technological products, they are far behind schedule.

The fondle with them is that they have a rather egregious policy of refusing refunds if a customer waits a certain amount of time to ask for one. After that point, the customer voorwaarde either get their order fulfilled or get screwed, one or the other. It seems whether or not the latter will toebijten is up te the air, spil, according to Alpha Technology, they’re close to ending their promised product. The is the response this verslaggever received when he inquired of Alpha Technology about their seemingly unfair refund policy. Writing on behalf of Alpha Technology is Mohammed Akram, the “managing director” of the company.

[…] if a customer is eligible for a refund spil vanaf our refund policy wij refund them. However if they have an existing order their order will be fulfilled and shipped.

Wij are ironing out some current technical issues, but wij are sure to commence shipping soon. With the very technical nature of our product, delays are roped to toebijten. Wij are glad to have working chips which wasgoed the longest and most costly facet of the project, now it is just about mass assembly and putting the hardware together. Updates on our webstek are regular.

Closer inspection exposes that this Akram is actually the founder, and likely only employee, of the company. He claims to be “a graduate te Electrical and Electronic Engineering whose objective wasgoed to provide innovative and specialised hardware to the cryptocurrency industry,” yet is “outsourcing the physical and technical engineering including the vormgeving and manufacturing of the devices” of the upcoming Scrypt ASIC miner. Interesting.

The astute reader will certainly be asking: what does eligible for a refund mean? The policy is specifically designed to lock the buyer te if their suspicions are not raised soon enough. From their webstek:

Within 0-1 month after receipt of payment: Utter deposit will be refunded. Within 1-3 months after receipt of payment: 75% of the deposit will be refunded. Within 3-5 months after receipt of payment: 50% of the deposit will be refunded. Please note a cancellation toverfee of 70 towards treating charges will be applicable along with any cancellation.

What right does the company have to keep any of the money if they fail to produce? Spil you can see, this policy encourages the buyer to stay locked te, until it’s too late, and by the terms of their policy, tho’ certainly not under the eyes of the law, the company gets off loosely with the money.

If an order is not delivered a year straks, how is this not “eligible for a refund”? Te what world is this an acceptable period of time to keep a customer waiting? Imagine going to a McDonald’s, ordering their latest product, and waiting more than a day for them to supply it. They would give you a refund and your order. Furthermore, when wij’re talking about mining equipment, wij’re basically talking about an investment. The time has long past that any acceptable Scrypt mining might earn a return-on-investment.

The world is not a Kickstarter campaign. Pre-orders have come to ruin the mining industry with cracked promises and stolen money. A group of disgruntled customers has gathered at a webpagina called FightAlpha.netwerken.

Spil to you, dear reader, reminisce that a clever man learns from his mistakes, but a wise one learns from the mistakes of others. Never pre-order something that doesn’t yet exist. If it’s out of stock, that’s another story. But if they toevluchthaven’t even finished it yet, your chances of losing your money by pre-ordering seem higher than the opposite.

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