No, a ponzi scheme is a very specific thing. They wouldn't produce anything at all and just pay out proceeds to the initial purchasers based on money collected from later purchasers.
Using pre-order money to develop a product is not what I would call good business practice, but it's not a ponzi scheme and it's not even illegal. See Kickstarter for a popular example of this sort of business practice.
And no, I don't think they'll make their release date. I'm personally not willing to pre-order anything, least of all Bitcoin mining equipment.
Topic: Another Ponzi scheme? (by HashFast) (Read 2002 times)
hmmm think its worth it to buy the evo? any possible ROI?
Gotta love how they haven't even delivered on their IceDrill stuff and are already selling more machines. Isn't this the classical case of Ponzi scheme?
http://hashfast.com/shop/sierraevo/
http://hashfast.com/shop/sierraevo/
oh boy the plot thicken it seems blatant disregard for people that have funds in and already moving ahead collecting more funds is a red flag to me.
What everyone loves Fonzy
Well perhaps they have the money but they likely spent it on R&D and now they can't fulfill there promises for delivery dates and MPP.
They spent $15m + VC investments in developing a 28nm chip? You know that it would be BS.So in essence they are operating a Ponzi. They need more new customers to pay for the old customers gear that still needs to be sent out.
No, they have the money, if they didn't trow it into a black hole.Otherwise they would have had the mining equipment by now (MPP for all batch #1 customers).
How do you know they don't have it?Posted from Bitcointa.lk - #rjT0bHoEJodXYRSv
http://hashfast.org
It's not a ponzi, they have the money of their customers (and probably more).
Posted from Bitcointa.lk - #dtQxiYtZ7PC5qImY
It's not a ponzi, they have the money of their customers (and probably more).
Posted from Bitcointa.lk - #dtQxiYtZ7PC5qImY
Well perhaps they have the money but they likely spent it on R&D and now they can't fulfill there promises for delivery dates and MPP.
So in essence they are operating a Ponzi. They need more new customers to pay for the old customers gear that still needs to be sent out.
Otherwise they would have had the mining equipment by now (MPP for all batch #1 customers).
http://hashfast.org
It's not a ponzi, they have the money of their customers (and probably more).
Posted from Bitcointa.lk - #dtQxiYtZ7PC5qImY
It's not a ponzi, they have the money of their customers (and probably more).
Posted from Bitcointa.lk - #dtQxiYtZ7PC5qImY
Gotta love how they haven't even delivered on their IceDrill stuff and are already selling more machines. Isn't this the classical case of Ponzi scheme?
http://hashfast.com/shop/sierraevo/
http://hashfast.com/shop/sierraevo/
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