You're saying that from a miner's perspective, not Bitmain's perspective though. Your finances and success are not their finances and success.
Then as a result,
their success with this chip has come at the expense of their customers' losses (read: anyone who bought Batch 1-7). Class acts indeed...
I made money on both my batch 1 and batch 2.
But they still owe me compensation for the Batch 1 which they will never pay.
my accounting on the batch 1 is this.
I purchased the coins from coinbase so the cash basis was is what matters for those two purchases
1723 + 50 = 1773 for the batch 1
1485 + 50 = 1535 for the batch 2
I sold the batch 1 for 1400 loss of 373 but it mined during the up tick in coin price and earned 1.5 coins at 480 = 640 (I sold them at 480)
so the batch 1 I complain about netted 200 plus usd.
The batch 2 has been mining since October at free power it has earned 4.5 coins which are worth 1900 or so
But it was how I handled the purchase of them. I purchased the coins from coinbase.
now some would say if I buy and hold I would be better off.
I say.. I bet a horse named s-7 miner and have more money now then before the bet.
It is true if I bet the horse named buy n hold the payoff was better.
But my choice did put me ahead. As my fiat is higher then if it just stayed in the bank.
To the guy that did all it all mining his btc is lower. He lost out.