I make no excuses.
We saw the delays would be long and painful for our customers to wait and would adversely affect their ROI. As a cooperative we decided that we had to start refunding proactively as that was only fair and ethical course of action. We were very explicit not to use the BTC collected from our customers in fact some of the delays in our initial refunds were caused by the fact we had put all the BTC into cold paper storage and took nearly 3 days to get them back in the hands of the cooperative so we could refund people. And we apologized to no ends for our slow and utterly useless handling of refunds.
We don't hide behind Avalon's failure to provide chips in time for fabrication. We are the ones who cancelled the project we take full responsibility for it's failure. Will the K1 be our last project... no. I am sure our collective decision was the right one and I hope the majority of our customers and the community see this for what it is the right action for the right moment. Did we make mistakes of course we did, could we have waited longer... of course. Will we be stopping there... no.
There is a huge difference between what we want for the community and what BFL wants. We want to help support DIY and miners and hopefully that can happen with our next project. We are very upset with our failure and we know we let down BKKCoins but we really didn't want to have more people held hostage so we had to cut the K1 off.
Respect is earnt not given....
Let me know anytime soon you have another venture as honestly you will have my business....
Ethical & Honest = Awesome
Here,here!!!!!! I'm watching & waiting for your next project too
I think I know who's chips your going to use next.............& we all know who's your NOT going to use
LOL you do?
Tell me we are still looking at a few of them (Not BFL or Avalon obviously). Bitfury we let slip... but there is certainly a lot of them coming to market soon in a variety of shapes and forms so like the Avalon chips there is going to be a very very limited window for BF I imagine.
Well,there's only 3 to choose from & Bitfury ain't one Down to 2 Unless I missed a vendor or 2