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In many ways this is brilliant. It is like a real estate flipper using other peoples money to get leverage to make a deal that is way over your head. You assume little to no risk, use other peoples money, and if the deal goes bad you shrug and go onto the next deal.
From what we are able to gather that appears to be what is going on here. Sadly they will push forward no matter what because they don't have a lot if any skin in the game. They are using OPM(other peoples money) to make it happen. They know if the deal works they stand to make a lot of money regardless if the 11g is worth a plug nickel. If the 11g turns out to be OK and it actually ships they stand to make even more. So they don't have any reason to throw caution to the wind. I would venture that actual money out of their pocket percentage wise is a very small fraction of this deal... If they have any money in it at all.
They are likely relying on angel investors and of course this community to make the deal happen and they laugh all the way to the bank. "It's just business" they will say. It would have just been business if you had left the community out of it and bought the miners and then offered to sell them straight up. When you start looking on the forum like a vulture looks at road kill then there is something wrong...
Reputations have already been tarnished.
From what we are able to gather that appears to be what is going on here. Sadly they will push forward no matter what because they don't have a lot if any skin in the game. They are using OPM(other peoples money) to make it happen. They know if the deal works they stand to make a lot of money regardless if the 11g is worth a plug nickel. If the 11g turns out to be OK and it actually ships they stand to make even more. So they don't have any reason to throw caution to the wind. I would venture that actual money out of their pocket percentage wise is a very small fraction of this deal... If they have any money in it at all.
They are likely relying on angel investors and of course this community to make the deal happen and they laugh all the way to the bank. "It's just business" they will say. It would have just been business if you had left the community out of it and bought the miners and then offered to sell them straight up. When you start looking on the forum like a vulture looks at road kill then there is something wrong...
Reputations have already been tarnished.
100% agree
I just hope history does not repeat itself and people end up losing their coins
A world with bitcoin sure is fascinating, just wish it didn't manifest so much greed in people
