They claim that most of the hashrate increase is caused by them. If that is true, it means they took so many orders that if they shipped them on time their customers would never make much back on their investment, without price increases.
So what is it that motivates people to come on here and vociferously defend them? If it's the case that most of the hashrate increases are due to their shipping units, then their customers were fucked all along.
Yes. The difference in returns you'd get if you were the 1st person ordering a jalapeño versus being the 50,000th would be enourmous.
Not if they shipped 50k on the same day, or even in the same week or so. 2016 blocks would be found almost immediately and then there'd be a huge diff jump. 50k Jalapenos would be 300TH. About the hashrate at the beginning of this month.
They're not under an obligation to only ship products that can hash profitably, whether counting all their other orders or not. Just as asicminer ships thousands upon thousands of USB block eruptors that will likely never earn a positive return.
So, they're not under obligation not to fuck their customers? Why would you defend a company fucking it's customers, simply because they're not "obligated" to refrain? Maybe not illegal but certainly not ethical.
At least with the block erupters people know what the hashrate and difficulty growth will look like when they get them, since they'll be getting them right away. A lot of people buy them just for fun.
All they are doing is offering a certain haahrate for sale and leaving it to the customer to decide of the price offered is worth it based on their own knowledge and projections. If they choose to ignore the effect that many other similar orders will have on the network, that's not Bfl's fault.
Of course it's BFL's fault. They had faulty information because BFL withheld that information. That was no way to know what effect the other orders would have because BFL chose not to share that information with them. Which is why I decided
not to order from them last year, and went with Avalon instead (I have a batch 2 that's already paid for itself
in BTC)
You're basically claiming that everyone who didn't make the same decision I did was an idiot who deserved to lose their money to BFL.
As for your other point, I throw up a defense because so many people seem so blinded by greed that they put out arguments that make little sense.
Ie, the person demanding a refund of an equal amount of bitcoins as they sent in originally, even though they knew they were buying a dollar denominated product.
My batch 2 Avalon has already paid for itself in BTC. The only reason I bought a miner was to increase the amount of BTC I had.
The people saying a monarch is a terrible buy because it won't reach break even (which, while it might be true, would therefore imply that every ASIC should be avoided, since bfl typically offers the most hashes per dollar, meaning any other competitors product will be even more unlikely to pay for itself), for starters. In this case, the implied argument that they have a responsibility to only ship product if its profitable at the time that it ships, when they have zero control over prices.
What the fuck are you talking about? Of course the monarch is a terrible fucking buy! Why the fuck would anyone buy something that won't ROI? Are you smoking crack?
BFL has already said the majority of orders won't get anything until January or Feburary. You do understand that the date you receive your item makes an enormous difference in terms of profitability, right?
If you order a KnC, you can cancel your order and get a refund whenever you want, until they ship
your unit. You can even pay with a credit card and do a chargeback if they don't give it to you.
If you get a HashFast there is a "miner protection plan" where you get extra chips if you fail to ROI in 90 days. And, if they don't ship by January 1st, they'll give you a full refund. I actually think HashFast is a bad deal overall. But you'll almost certainly get a unit from them earlier then BFL and if not you'll get a refund anyway.
So of course the monarch is a terrible deal and they're completely taking advantage of idiots when they sell them.
You can't argue on the one hand that people bought from BFL are idiots who deserved to lose their money, and that BFL has zero obligation to not fuck their customers, and then say on the other hand that people order a monarch somehow
aren't idiots who are about to get fucked, hard, by BFL.