[…] I would like to know why steamboat is unwilling to do a 100% refund.

The situation as it stands is far from optimal, and while we realize a 100% refund is desired by most of those who have purchased chips through us, we have invested considerable resources in order to  facilitate our offer of Avalon ASIC chips to the community, and cannot offer a full refund. We have done everything in our power to educate potential customers of the risks involved when considering placing an order, and have stated explicitly we assume no responsibility for any issues that may arise due to circumstances outside our control; including but not limited to Avalon failing to ship, shipment being seized by customs, shipment arriving late, etc.

While we are not bound in any way to do so, we know it is unethical to retain the profits made from chip purchases, and have chosen to refund all profits which remain after administrative, logistical, and material expenses have been taken into consideration.