We got the first Asic miner related scam?

[ATC777]

I think it all makes sense... These companies wanted to develop ASIC chips and be the world leaders of Bitcoin mining. So they got a few geeks together, made some designs and started taking everyone's money as "pre-orders"... They probably figured it was ok to do this since game developers do it sometimes... They'd take everyone's money and use it behind the scenes to actually develop a real product... it wouldn't matter because when they shipped everyone would be happy and we'd all be none the wiser. Sound about right? 

If I had a pre-order with any ASIC company I would get a refund now... Nothing against BFL or anyone else, just logic... the risk is that now there's going to be that "refund tsunami" and BFL and whatever other ASIC companies there are will be next...

Anyways, I'm proud of myself for not pre-ordering anything I couldn't see with my own eyes.

+1 me! 

[1714115210]

1714115210

[1714115210]

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[Third Way]

At least game developers also provide demos or "behind the scenes look" at the production process. 

[Lethn]

Very few do that though, mainly because of course what they produce is rubbish and they know you'd cancel the pre-order if you saw a proper preview of what to expect, why these people can't just provide good products to begin with is beyond me.

[BR0KK]

There are crowd funding platforms pt there (ie. kick starter) but they require a solid and proven business plan.

I don't get why they did their funding like this ..... And how someone could invest (preorder) without knowing full detail:/
Greed?

[ATC777]

[...] Greed?

Humans tend to use only two emotions in their dealings with money: fear and greed...

[b!z]

Very few do that though, mainly because of course what they produce is rubbish and they know you'd cancel the pre-order if you saw a proper preview of what to expect, why these people can't just provide good products to begin with is beyond me.

They want to save money while making maximum profit.

[Lethn]

Yeah but they're business won't last on that model, unless the people pre-ordering from them are infinitely stupid.

[Third Way]

Surely the better business bureau wouldn't mind messing with a small company who's owner has been previously convicted for fraud to the tune of millions, the same company which apparently raised 25 million in pre-order money yet continually extends it's own deadline and to date has shown no product, not even a development stage mock-up(that isn't 3d).



They're a government agency I bet they have nothing better to do.

[ElectricMucus]

They're a government agency I bet they have nothing better to do.

Not that far of...

Because Bitcoin!