HF wanted to give customers the option of refunds in BTC. That option was precluded by the legal scrutiny/expenses brought by PMorici, etc.
The legal scrutiny/expenses started in May right? What did HF do until then? I am pretty sure they haven't refunded everyone from Batch 1 until then so this is just a cheap excuse.
J64 was not promised 51 coins back WITH NO EXCLUSIONS.
There were no exclusions mentioned in the statement. How could J64 guess the exclusions since there was no mention of them? If the exclusion refers to the exchange rate please enlighten everyone how should we guess the limit exchange rate where HF couldn't offer a full BTC refund.
How was HF supposed to pay for the pre-ordered devices to be built, if they didn't convert the BTC? Magical charity elves? Cargo cult ceremonies?
HF promised a full refund in case of non-delivery except that they had no money, thus they lied about the refund!
As long as you keep starting with invalid premises, you will continue to reach invalid conclusions.
Obvious to any observer is that you desire to reach invalid conclusions, to justify your vendetta against (of all things) a tiny start-up that was almost successful but suffered one setback too many.
Invalid Premise #1 is "full BTC refund means the EXACT NUMBER of BTC paid NO MATTER WHAT"
This was debunked months ago. It was a ridiculous, impossible interpretation constructed to benefit the cupidity of its proponents. There are many highly imaginative subplots to this conspiracy theory involving hedges, reinsurance, and secret escrow accounts, none of which were ever mentioned by HF or their TOS.
Invalid Premise #2 is "HF didn't refund their Batch One customers"
If you bother paying attention, you'll find out HF did offer refunds to all Batch One customers who requested them. Only a few greedy fools insisted on refusing to cash their refund checks, as testament to their unshakeable belief in their right to a windfall.
