The mining industry is still young enough and its hardware rare enough that regulators still don't fully understand them.
I don't believe anyone thinks that you are wrong.
It's just that people don't care enough to not purchase. You hit the nail on the head with the mining industry being young and crypto in general very unregulated. I believe you have made your point (many times now), but you have to accept people are not imbeciles and have spent good money based on the limited/minimal information they have available to them.
It was a gamble that has paid off for some people. I do not think that many people would buy a car, no matter what promises are made or how cheap it is, from a manufacturer that has none of the accountability details you have repeatedly says.
But Crypto is not the automotive industry. [
Emphasis added.] [....]
Some would-be customers absolutely
do care enough about these lingering, unanswered questions about Halong Mining -- enough not to purchase from it. Others are unconcerned or less concerned. I've been committed to trying to help us all uncover basic facts about Halong Mining and MyRig, Inc., and all of us should care about the truth and make the best decisions possible for each one of us. If an informed buyer wants to buy from Halong, then please have at it.
I agree with your point that buying from Halong Mining "
was a gamble", but I can't say I agree with your point that the purchase "
has paid off for some people." Products from Batch 1 are just reportedly getting into the hands of purchasers, and we do not know how they will perform or their failure rate. It was not disclosed to us before purchasing that the units may be used only on a limited number of pools (due to AsicBoost), so that was a material fact not advertised that limits their usage. We also do not know if Halong will honor its 6 month warranty or if it will even remain operating for the duration of the warranty period. Halong said the AsicBoost license negotiation was a reason for its pre-release secrecy, but we now see that Halong has continued to maintain its secrecy, so that has not really worked out for those purchasers, including myself, who expected to learn a reasonable degree about the company by now.
Certainly, "
Crypto is not the automotive industry," as you pointedly noted, but a number of similarities exist between mining for cryptocurrency and driving an automobile:
(1) Both consume energy that have fire safety considerations that any responsible operator must consider.
(2) Both activities pose a risk to human life, especially if using a defective product.
(3) Consumers of both products must adhere to strict rules and standards when operating them or face significant liability, including fines or imprisonment. Yes, believe it or not, if you
negligently operate a miner and burn your and your neighbor's house down, just as if you
negligently operate an automobile, you could be guilty of manslaughter if someone is killed due to your negligence. In the case of both products, if you are operating a miner or a car from a totally anonymous manufacturer, the operator assumes a greater degree of liability since the owner is on notice that the lack of accountability or trustworthiness of the seller is a known issue.
(4) Consumers of both products care about the warranties of each, and to that extent, many purchasers care about the credibility of the party issuing the warranty. The more of each product a consumer purchases, the more he or she is going to care about the warranty and the credibility of the issuer of the warranty.
(5) Manufacturers of both products are required under law and long-standing widely accepted business norms to be accountable for their actions, including negligence (
e.g., the release of a defective product) or intentional bad acts (
e.g., theft of IP, or non-compliance with a patent license).
I genuinely hope it works out for purchasers of the DragonMint, including myself.
It might. But then again,
it might not. Time will tell. As you noted, buying from Halong "
was a gamble." It remains a gamble. Regardless, one fact is inescapable: the more we scrutinize a seller, the more informed we all are -- and the better off we all are. And that is a positive step.
