FTFY
Liar! It says right there, http://www.butterflylabs.com/monarch/
People paid 45 bitcoins for that obsolete piece of shit...you suck balls BFL and I hope that dickbag con-artist gets sent to the slammer.
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It all starts when you transfer money (something of real value)
towards them in exchange for a future commitment. This future commitment
gets transformed into something the customer has to "chase", which requires
more time and effort and thus degrades their full liability towards an effective
liability. They can do that because customers are human beings with a limited
amount of time and persistence, and also because there are legal frameworks
which allow them to make the hunt very cumbersome and limit the timescale
for potential damages. Of course it also helps if the object of the hunt looks
undesirable, like in a case of a possible bankruptcy.
It follows that the difference between the full liability and effective liability is an
additional profit margin to their business. This is a form of windfall profit they
can engineer themselves and thus they do. It still has to be revealed whether
they are using that profit margin on top of the one from producing mining
equipment or as a replacement. Time will tell.