Have ORSoC made any public statements over this?
Why would ORSoC need money up front?
Yes! On ORSoC's own website a month ago they had a press release, KnCminer appears in a banner directly at the top of their Opencores.org website and forum homepage, three of the head guys at ORSoC (CEO; Johan Rilegård, CTO; Marcus Erlandsson, and Michael Unnebäck; FPGA/ASIC specialist at ORSoC) are joint directors with Sam and Andreas in KnCminer, and in their video yesterday; Marcus Erlandsson ORSoC's; Chief Technology Officer is the one demonstrating the FPGA with Sam.
If you don't know any of that you really shouldn't be commenting in the manner you have at this stage!! It's been public information that you have chosen to ignore or haven't looked into, and you are spreading unnecessary doubt due to being ill-informed through your own choice.
This is all true and has been pointed out several times in this and other threads. But it still does beg the question. Why do they need us to fund this? With these esteemed gentleman from Orsoc on board surely funding wouldn't be a problem.
With the best will in the world companies fail. They may not be scammers but they could just as easily fail. Run out of money and fail. As long as they are not a part of Orsoc they can cut that rope and cast them adrift. Yes they would take PR flack for a while but so what? Most of their customers probably are in no way related to bitcoin. They'll keep trading with them as long as they provide a service they need. I've seen this plenty of times. The "just don't do it to me" attitude.
Sir Richard Branson, Sir Alan Sugar, Donald Trump and plenty other other business "giants" had failed ventures in the past and look where they are today. Its par for the course. Nobody cares. The only people that do are the ones that lose money.
Banks and VC's factor the risk into their investments and require a much higher burden of proof then some of us here seem to. You wouldn't get a red cent from a VC with that video demo let me tell you, yet some people here are handing over their credit card details.
Right, but they give you 7 days to pay and open day is tomorrow. So if you want to reserve a place in the interim it's of no risk to you. That's what i've done.
The only thing I can advise is to ring up and speak to your card company. Have it on loud speaker and record them. I fully take on board what you posted earlier, and the other day I've been looking into section 75 since. It's why I called my card company, they put me through to a fraud protection specialist spoke at length about section 75, and then repeated the query. To say they won't honour what someone in their fraud department has told me is crap. They are liable for what their own representatives advise their customers to do. I went through everything; payment via Paypal, September/October delivery. She told me I am covered, and they assume liability after Paypal's own 45 day buyer protection ends. I've done everything I can on my part, if they've misadvised me, they are entirely accountable.
And I applaud you for doing so but some people here will not be as diligent. Markm has already admitted to paying with BTC. How many others will? Its not the canny ones I worry about. It's the guys still buying BFL preorders on ebay that are the problem.
I agree, eBay is full of scams, Bitcoin pre-orders are the least of their worry. The obvious ones are the Chinese listings that request 14 days before they can send items. That's enough time to receive payment and disappear.
The reason the Bitcoin ones are lucrative, are that most popular mining devices (or multiple mining devices listed), that end up over $10k cannot be purchased by Paypal, so bye bye money!
The only reason I labour the ccard point is to encourage people to get off their own arses and do some legwork themselves to determine whether this investment can be made safer for them. They won't though, people are inherently lazy and don't value their money enough to spend an hour of their time talking things through with card companies they pay large commissions to carry their plastic around in their pockets. It's easier to do no due diligence and b*tch about it on a forum, hoping someone else will do the legwork for them, or a pessimist, or someone hoping to see the comapny fail agrees with them.
No one is responsible for your actions, including doing your own research, other than yourself!I agree many things can go wrong, but I believe KnC and ORSoC want to do this, as much for themselves as anyone else, and most importantly have the ability, moreso than I see elsewhere. Although tthe Avalon DIYers, such as Klondike haven't failed to impress me. I knew they would, and I can't wait to see some crazy DIY casing, like part MAME arcade cabinet, part bitcoin mining machine - both utilising the redundant space of the cabinet and the limited processing requirements of oldskool arcade roms. F**k it, I might do that!!
Yes please:
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