Totally contradicting himself too.. he promised it upon his own well being that they would have it by the end of June. Remember they guaranteed it by the end of June, without question?
Also, pay particular attention to their wording in their last update (
Source), especially the highlighted:
"And we are sorry the payment processor keeps getting delayed we are doing everything we can to get it to you as fast as possible, rest assured we are committed to it so it will happen but some things are just outside of our control; as soon as its up we will email you. It could in fact be any day now but do note this is an issue separate to production and does not affect our schedule. We will be producing as many units as ordered without waiting for card customers to pay thus if you have not yet paid your order will still be manufactured regardless. Therefore our development isnt delayed by this and if we end up with extra units they will first be offered to existing customers and if they still havent been taken up they will then be put up for sale to the public. "Having read that, keep this in mind:
1. Most folks signed on because they offered credit processing (
the bait)
2. They're going to make the same amount of machines regardless of who's paid (
the distraction)
3. They have no method to take credit
4. If your account is unpaid, they will offer your machine to someone else (
the switch)
5. Your deposit isn't refundable, ergo, they got a free loan
This isn't to say this was the plan from the beginning (could've been, but not necessarily), however, the way they're posturing themselves, they apparently almost seem to benefit from not having a credit processing method. In their minds, they don't have to issue refunds on unfulfilled orders (their T&C saying their faults do not constitute default). If you had planned to use a CC to pay this whole time, you'd be bum out of luck, and your order would go to someone else.
Consider for a moment how many chips they would have to have ordered to complete the project. The original systems were what, 5 and 20? The new systems are 50 and 250. Going on their estimate of 1.4mh per chip, batch 1 of 1,200 orders for each (I think that was right, correct me if wrong):
5mh @ 1.4mh/ch = 4 chips
20mh @ 1.4mh/ch = 15 chips
That's 19 chips total. 1,200 orders each = 22,800 chips. Most smart OEMs will order 25% extra for spares/issues/etc. So that's 28,500 chips. Now consider, according to their timeline, they began the foundry process without telling us, sometime in April. This is before they promised more and more hashpower for folks. So their order was placed and done.
How then, can they achieve these results with 28,500 chips:
50mh @ 1.4mh/ch = 36 chips (43,200 chips required)
250mh @ 1.4mh/ch = 179 chips (214,800 chips required)
215 chips at 1,200 orders = 258,000 chips. In other words, they're promising to deliver ten times the hashpower, despite locking in their order at 1/10th the capacity. UNLESS of course, they originally planned to order 1,000% more chips. Even the 10% gain in efficiency doesn't make up for it.
With even more chips than they likedly ordered, let's say 30,000, they still couldn't fulfill just the 50mh orders.
The only way to make any of this even close to working, is to prevent many people from getting their orders, and/or to raise more money to keep the foundry pumping out chips. There's also possibilities not covered here.
This is all speculative, but when you run the numbers--there's lots of math not adding up. A promise of tenfold increase in delivered product, after locking in their foundry order, with only a 10-20% increase in chip efficiency.
(edited to fix typo in numbers)
