Also, the IceDRILL thing doesn't get the MPP. Apparently they were going to charge money for it originally, and would have with icedrill:
Will IceDrill be covered under the miner protection program that was recently announced?
Sorry, needed a bit of time to compare our notes from the offering then with the current public (Baby Jet) MPP.
1. The premium on the "insurance" was substantial, and was only presented as an option at the highest level of bulk buy, which was well beyond what we calculated the IPO fundraising could achieve in the current competitive, highly-saturated mining investment market.
Hang on, WTF?! So they are supposedly actively paying a third party to insure the possibility of handing out extra chips, but refuse to pay a third party like Paypal 2.9% to process credit cards and offer real payment protection to their customers supporting their venture!?!??
I call bullshit, once NRE is covered an extra chip will only cost them a few dollars to hand out. It's the equivalent of your stingy uncle saying, here you go sonny, here's £10, don't go spending or all at once. They aren't paying for the expensive part, the rest of the hardware.
They don't need anyone to insure extra chips. If they have chosen that route, whilst ignoring third party payment protection, and effectively removing as much accountability as possible it screams how unconfident they are about their claimed deadline. This is just reckless handling of customer funds, they want a free ride to a comfortable lifestyle for themselves.
As for KLees comments, think about it man, 'Miner Protection' BS only comes into effect when network competitively and costs of electricity negate possibility to reclaim funds spent, i.e. if they are delayed. If they could actually deliver in October MPP is unnecessary.
KnC don't need to offer such gimmicks of they deliver on time. Hashfast are trying their damnedest to poach customers with their MPP (again pointless if they can deliver on time) as they know full well if KnC deliver, and ship as many units per day as they claim, come October/November you could buy KnC units in stock. Which would you rather choose now? Bearing in mind KnC can match price as they no longer have NRE to cover.
For you the customer you know full well the lions share of profit is to be made from now until December. Who needs MPP if you have covered your costs before Hashfast eventually deliver?
Real miner protection is delivering on time, before November, well before crazy hashrate and electricity costs are even an issue....
Think.
If KnC miss their deadline massively, I can claim my money back from my card issuer, boom, that's real protection.
If Hashfast miss their deadline, I'm stuck with no chance of a full refund, watching everyone else already mining, or purchasing products that are priced cheaper, in stock, delivered next day.
