And yet ya seriously think that they give 2 shits about the network hash rate. They are producing a product that is being purchased. ROI ROI ROI that is the only thing ya talk about. BitCoin is an investment and not a stable one. It may pay out and it may not. Just the way the ball bounces. So enjoy your carrot when it gets here and quit bitching.
Indeed. They are building a machine that spits out Bitcoins, they are not converting customers dollars into Bitcoins no matter how you word it. That is the job of an exchange, and you can see how hard certain governments are coming down on those due to legalities and requirements of financial service orientated businesses. KnC make machines that distribute network, increase it's securty, and Bitcoins are merely a reward as part of that protocol. All this talk of ROI is something some forum members are choosing to focus on themselves. KnC have no control over competition, or BTC price, the same as JCB (
http://www.jcb.com/) has no control over whether physical mining companies happen to dig in the right area. This is an crucial distinction to understand. They couldn't predict what the BTC price would be currently, three months ago, but obviously priced fairly under the assumption it would remain stable, which within reason, it has, but they cannot claim or reason that they did this openly online, or admit to that, as it is illegal.
Moreover they cannot promise 'Return on Investment', neither can any other company, and those that are are breaking the law. They have to register and adhere to the law with respect to being a financial service if they are promising 'returns on investment', or even mentioning the word 'investment', anywhere. It's not merely a 'grey area', it is illegal. FinCEN in the US just haven't acknowledged that Bitsyncom, or Hashfast are breaking the law mentioning those words. Why do you think Yifu wants to suddenly keep people happy? Future sales? Pfft. Bitsyncom now realise with Bitcoin seen as a currency at a federal level in the US, should they end up in court, he is in the shit, big time, as his past wording has;
1). Classed his offering as an unregulated financial services product,
2). He has failed to deliver on his promise,
3). He has directly affected his inability to deliver as promised, and ensured his customers have realised a loss, over the gains promised.
4). He priced his products based on the returns they were claimed they would receive.
5). FinCEN will tear his non BS terms to pieces. Fact. He's adhered to none of their guidelines or registered his company as a financial service.
