Companies do not spin up $20M worth of product on extremely limited supply chains on letters of credit.
That statement is patently false. Letters of credit were, are, and will be written for various sums, both lower and higher. It is a mainstay of many industries, not just produce importers.
I had to front it, and I cant front it through August with no concept of demand numbers. This was not a profit taking venture, Im trying very hard to make sure these cards make it into the community without price gouging that was about to happen. With out that effort, they would have continued to produce small batches and introduced heavy lead times and price increases. I took the risk off them, everyone here benefits. Simple as that.
I don't have an inside knowledge of your venture so I can't make any definitive statements.
What I will comment about is one fact: you may think that you can freely mix true and false statements and they will average to "reasonable". No they average to "are you on drugs?" or "what film set did you came from?" or "did you forgot to take your medications?".
This vacillation between heady optimism and dark paranoia in a single person is not only off-putting. It is the reason to raise suspicion among both crypto-currency people and traditional finance people.
I'd just like to pipe up for a moment.
The hardware industry is very, very different to other industries. It's upfront, capital intensive, and companies like NVIDIA, AMD, Intel, Xilinx and TSMC don't take 'letters of credit', which may as well be a credit card with chargebacks.
The hardware industry doesn't like risk.