I remember post after post about how you guys would not be affected by the CNY, care to comment why "most of the staff" had off when you previously said it wouldn't affect you guys?
Also since a yes or no answer was never given, will minersource be giving refunds, yes or no?
Minersource cannot issue refunds as they have paid us for your miners.
We're currently making a list with the refund requests to see if we can refund from our margin. Note that our margin is quite low as we have charged our customers $4000 on a miner while others have charged $16000 on the same hardware during the same period.
As we've announced, we've put the ASICs into production and they've been paid in full. Canceling the ASIC now is not possible as we will incur around 85 to 95% penalty so we're left in refunding only from our margin.
WHICH CONTRAVENES THE LAW IN MANY COUNTRIES. I AM IN THE UK AND THE LAW STATES THAT IF I HAVE NOT RECEIVED A PRODUCT AND WISH TO CANCEL, I CAN DO SO. ANY COMPANY REFUSING MY RIGHT TO REFUND IS ACTING AGAINST TRADING STANDARD LAWS.
May I suggest that customers in the UK and other jurisdictions where similar rules apply who have not received products and have been denied refunds, either by a refund being declined or a delay in reply resulting in a
de facto denial of a refund, that they draw the matter to the attention of the trading standards authorities if they feel so inclined.
The other matter at hand here is if BA is unable to provide refunds to all the customers who ask for refunds, then it could also be in breach of corporations laws if it is deemed to be 'trading while insolvent' and the directors and company officers held personally liable.
A few prosecutions of bitcoin companies and individuals who think its fair game to rort the public would soon put an end to this borderline criminal activity known vicariously as 'pre-orders' in the bitcoin community.