You are a little late, dude. This is the 5th group buy. What rock have you been living under that past month?
This has been ongoing for a while, and it's quite unlikely to be a scam.
I, for one, have bought a few chips in each one of his rounds. I'm quite confident that he's not scamming anybody.
I have raised a legitimate concern. Just because it has been going on for awhile doesn't mean it is entirely legitimate. The chips won't be shipped for awhile and therefore no one has received their chips in this or previous group buys. There is no reliable track record because previous group buys are not fully completed with actual shipment to the group members. I am not saying that Steamboat is a scammer and I am not trying to discredit him, but it would be nice if he did give some information to JohnK.
Then I recommend you go with another group buy that uses JohnK as an escrow service.