It didn't work out, but I don't think it was a scam.
True I believe Ken to be largly incompetant, not a scammer
I have always maintained that this was not a scam, merely a failed business.
What gibberish! A scam is premeditated. But if it makes you feel better, call it what you want.
I dont see him as a scammer too but at least he made a lot bad business decisions.
I have to disagree with all of you. This was a scam from day 1. I will tell you my reasons:
1) This was the
only company in the mining ecosystem that had a trademark on their chip. Intellihash was the biggest lie from the start. I think that any chip designer can confirm that. Everyone is talking about how easy is to do SHA260 on a chip, that a student can do it, yet Ken had something different than everyone;
2) I would like to see some solid hard proofs that he actually intended to had a chip ready. All we saw was a retard NDA signed with eASIC, nothing else. That NDA could be just an informal talk nothing else. We still don't know or saw any proof that he actually sent money to eASIC to start the job. Even if he did wtf happened? I would like to see the failed project, but there isn't one and never was one;
3) After the so called failed eASIC project what are the proofs that he tried anything else? All I saw is that he bought some third party chips and he tried to sell some hashing boards on a '90 design webshop;
4) Also never saw any proof about the so called mtgox failure. Ken never published all his wallets right?
At least in HashFail we know that they were so dumb to spend all the money on chips, PCBs and components. What Ken did with all those money except buy some third party hardware?
Prove me that I am wrong.