, ,

July 09 – TerraHash claims their PayPal account is now active, still no word on outstanding refund requests.

Issue with PayPal has been resolved. We have access to the funds now.

About the refund policy, it was changed way before the orders were taken. We believe most of the refund claims being made now are because of the falling USD/BTC prices. The “item not received” claims being made on PayPal are deceiving and misleading, as everyone who placed an order knew that products would be delivered within two weeks of the delivery of the Avalon chips. This was also written on individual product pages. Some people are abusing the PayPal refund process by making false claims. Any how, we will be refunding all those orders now as a few people have showed interest in buying those cancelled orders. However, we are doing this as an exception and our refund policy is still the same.

We again stress that everything is going on-track, and we will deliver all the orders within the promised time-frame.

July 05 – TerraHash posts the following, which no one claims to have gotten, video of their board has yet to be made public. TerraHash amid public outcry that they produce any evidence that they have purchased the additional 30,000 ASIC chips goes quiet yet again.

Just sent out an email. We have secured two additional early-may orders of Avalon ASIC chips. We now have 40,000 chips (all ordered before May 16) which are enough to process all the orders that we received during our pre-order opening. If we get the Avalon chips by the end of this month, we will ship out all the orders by Mid August.

On a separate note, the test board is hashing now. I will post pics/videos tomorrow. Have a great weekend!

June 19th – TerraHash’s PayPal account is on hold due to large influx of funds yesterday.

“We will send an email [on June 21st] to let you know whether your order falls within first batch or not, and when can you expect it to be shipped. You can then cancel your order or choose to keep it.”

“We believe chips ordered today will be shipped at most a couple weeks after the ones ordered in April, not 2 months.”

But their Avalon chip order screenshot shows an order date of May 10th.  What April chip order?

May 10th – TerraHash places order for 10,000 Avalon chips.
May 14th – Cloud Hashing send $80,000 down payment for 10x fully populated DX Larges (6400 chips)*1 to TerraHash.
May 16th –  TerraHash places second 10,000 chip order.
June 4th – Cloud Hashing cancels their 10x DX Large order.
June 5th (approx)  TerraHash moves into their offices and shows pics of some fans and a multimeter.
June 13th – TerraHash show Avalon chip samples and empty Klondike board.
June 14th – TerraHash announces they are going to take preorders on June 18th.  (Probably because they need to give an $80,000 refund to Cloudhashing (see link to article below)
June 18th – Pre-orders open at 9AM PST.
June 19th – Terrahash orders more Avalon chips – they expect this order will ship a couple weeks after their first chip order(s).


*1) This assumes the $105,000 quoted order cost in the Coindesk article is because each DX Large is $10,500.

* TerraHash – all unpaid PayPal/Bitcoin order will be cancelled on June 19th.  Bank transfer orders have 2-3 days to go through and save their place in the queue.

* TerraHash – largest order was for two fully populated DX Larges.

* TerraHash opened for pre-orders on June 18th at 9AM PST.  TH said ordering was supposed to be open only to early subscribers for the first 24 hours, but at some point became open to all.

* TH has shown a screenshot of a 10,000 chip order dated May 10th 2013, and says they ordered another 10,000 chips within a few days of the first one (likely between May 14th to May 16th using funds from rcvd from Cloudhashing on May 14th).

List of Orders placed (as reported by individual on this forum)

18860 chips accounted for in 68 orders equals 277 chips per order.
20,000 chips = First 72 orders paid in full will be fulfilled in the first batch.

TerraHash estimates the second batch will be shipping a couple weeks after the first.

Bank transfer orders have 2-3 days to be received, and therefore save their order number.

TerraHash says that orders will ship according to initial order placement, as long as payment was made within 24-48 hours.   But basically this only applies to wire transfers, allowing 2-3 days for those to go through.