Before anyone gets too excited over this development I would wait until you know what the die size is and the operating frequency at quoted power consumption.
I am surprised that they say that full custom poses a higher 'risk' - that's only true for very complex chips like cpu's, not for the very simple (and I mean very simple) functions found in SHA256.
Good luck to them though, anything that puts a spanner in the works of KNC or 21 has to be welcomed.
Well when you're considering laying down nearly 8 figure sums without seeing the chip work first, you better be damn sure its going to work.
Oh, and 'nearly eight figures'
?
6, 7, 9, or 10 presumably. 100k USD sounds affordable
Take a look at what S1 prices did in early 2013. Diff went way up really fast, coin prices went down, and the price for an S1 dropped about 90% in something like four months. You think my December S1 would have sold in March for the 4BTC paid for it, or more like 8BTC if priced in dollars? Only to a fool.
So I'd say that, in general, with some exceptions, someone who takes a sizeable chunk out of the viable life of a miner and then sells it at new price is not selling at expected fair market value, and someone that buys it probably didn't do his research to know he was being ripped off.
The point is not, and never has been, that selling secondhand hardware at fair market value is bad. The point is, and always has been, that successfully selling used hardware at well above market value is taking advantage of a fool, which is unethical. Implying that the proper strategy for making positive returns on mining is (and always has been) taking advantage of fools, well I like to think this community is better than that.
My respect for what you do for this community notwithstanding - I think you're wrong on this one. S1 showed up at the end of 2013 - so perhaps you meant early 2014 there. Yes, S1 and S2 depreciated quickly. However S3, S4, S5 and perhaps even the last runs of the S2 could be used for a couple of months and sold for near their original price without ripping anyone off, due to all sorts of interesting scenarios with difficulty and exchange rate changes. So that's 3:2 against your historic argument, and the future is anyone's guess so let's make it 50:50
Again, you're taking an idealistic view of this. Purchase price minus "depreciation" must be your sale price? That's almost never the case. As someone already mentioned, if they list it as an auction on eBay and describe the condition properly and don't advertise it as a free money making machine - that's a fair game. Buyers electric cost, risk tolerance, future outlook, $25 eBay coupon, preference to buy locally instead of from China, and a bunch of other factors can affect the end price.