Post
Topic
Board Mining (Altcoins)
Re: Alpha Technology Litecoin (Scrypt) ASIC Miner Development
by
snootch
on 21/11/2013, 10:54:10 UTC
Unfortunately they need money for research and components. If they had that money, they'd just build the machines and mine themselves. So to fund the research and components, they solicit pre-orders. Yes, it sucks. But I don't see a way around it... ?

I do, it's called getting investors. bank loans, crowdsourcing, etc. Draw up a business plan and present it. With the history cryptocurrency device manufacturers have had (BFL, BitFury, KNC, etc) you should be able to easily show that there is a demand. If all else fails, go to Kickstarter.

You must mean crowdfunding not crowdsourcing.  Taking pre-orders is basically crowdfunding, and we are the target crowd.  Kickstarter is usually for charity, it's for donating, I don't know why people would donate to a for-profit business.  But still, it would be nice to not have to gamble on a pre-order.

My bad, yes, I meant crowdfunding.. Kickstarter isn't only for donating. I backed a project called Revolights on Kickstarter. They were some really neat LED rims for bicycle wheels that replaced front and rear nighttime lights. Anyway, I paid like 80% of the estimated market price.. waited 6 months for R&D, prototyping & production. I got one of the first production units at a discount and a t-shirt in exchange. BTW, Kickstarter also has policies in effect for accountability of projects: http://www.kickstarter.com/blog/accountability-on-kickstarter As far as your comment that "taking pre-orders is basically crowdfunding", you are correct, however Kickstarter provides a framework, pushes things along and provides legal avenues if things go wrong. Where simply participating in a pre-order, you are essentially throwing your money at them and hoping for the best, with no recourse if they don't deliver. Personally, I don't mind the concept of "pre-orders", but I want some level of assurance that the product will be delivered within a sane timeframe unlike other "pre-orders" that have taken place within the community. (yes, I'm looking at you BFL...)