Bitcoin Forum

Just a thought.....

This forum probably has a lot of clout when it comes to these hardware company releasing new products etc. It seems all of them follow the same game plan.
They don't offer anything really, but promises. they start a preorder for their miner 4-5 months in advance. They take our cash/btc and use that to develop their product. Now if they can actually get their miner produced. They almost never release it on time because "Of some manufacture issue" then once they do (If they ever do) your purchase is now the iPhone 2 in an iPhone 5s world.

IM TIRED OF IT. If we stop funding these CRAPPY Companies, their business plan would have to change...

What do you guys think ?

This is exactly what every forum user with half a brain has done since BFL blew their FPGA miner preorder deadline by >6 months.

Sadly, there are enough others that continue to sustain the scammers.  I blame the naturally trusting and optimistic nature of humanity that is being exploited by these bad actors.

I think it's a bit crazy that people get tricked into "waiting for" the next xyz because by then "everything out will become obsolete" when xyz starts being used. All the newest technology will trickle into the marketplace. There will not be this instantaneous single moment where every miner upgrades. A few people who gamble on the right gear will have a short-term advantage.

I only plan to buy "what is" and never "what might be". I'm okay with speculation on BTC prices, but there are too many questionable practices with the preorder game, and that's not just limited to this market either.

Just the other day someone asked what I thought about some new miner, they provided a link to some flashy render of a boxy looking thing claiming insane speeds. No clear pricing or delivery. Half the stuff around the corner might never see the light of day. People on the sidelines waiting for the next big thing are gambling on a heavy opportunity cost by delaying their mining. Everyone can do whatever they want, but I have no plans on buying anything that I can't hookup immediately, makes no sense to tie up capital funding someone else's project.

I know many of these preorder comes from newbies but still. Their folks that have enough coins to take a chance but in my opinion this board has the power to completely crush that bogus business plan.

At this point it an arms race. The increase in difficulty and maybe the decrease in value will make it so the people who mine will have to take a chance on the next generation of hardware.  You have to have the fastest to make any money.

Remember those little ASIC USB's?  I had several people tell me I was wasting money and would never get ROI, then 2 months later I bought a ton more off ebay super cheap, mined them for 2 months and sold them all for a 120% profit and they found plenty of coins....

Never going to happen.

Companies need the funding to develop a product and banks will never support them with a loan because it threatens their business model.

Miners are competitive. If they think they can be at the front of the queue, and hashing faster before everyone else, they'll take the risk.



I kinda think ASICs ruined the Bitcoin community.

We just swapped one power elite owning the monetary printing press for another one.

Long live the egalitarian Litecoin.  ;)

Start with boycotts on BFL and Avalon and things will get infinitely better.

boycotting them sounds good in theory only. There will be people who are willing to take the gamble and pre-pay for their products.

That is the whole problem

Theory?

Just smart investing advice.

They do not deliver on time and do not provide refunds.

Econ 101...

Increasing inputs shifts the supply curve left, this is a fundamental principle. If the trend shows no weakness don't assume it will solely on the merits it looks like a "bubble".

"You can't save 'em all!"

this will never work.....   too many people have got pre order stuff in a reasonable timeframe.....    bitfury,   kncminer for example,   1st batch avalons,     only those that pre ordered made some serious coin.....   people will always gamble and preorders is how our game is played....