Sure. Everyone expected you to comply with your promises and to have held or hedged the Bitcoins you collected in order to do so, the talk about investors certainly created that impression, and the very reason we asked about the refunds was specifically because of that case and the reason that we still purchased your hardware at 4-5x the cost per GH of your competition at the time was because of assurances like that.

It's a very easy scam that others are believed to have performed in the past: Collect a bunch of pre-order money. If BTC goes up a lot 'refund' a bunch of people USD. If it goes down, either go ahead and ship a product to everyone or try to refund in BTC.

The fact that you also forcefully "refunded" fractional amounts in USD denominated terms in violation of the contract to many early customers without them ever asking for a refund makes a lot of people believe you are engaging in this fraudulently behavior and that perhaps you company intended to do so all along.

There is no windfall here. I started with X Bitcoin. You sold me a machine to mine Bitcoin for those X Bitcoin scheduled for late october whos value you would almost certainly rapidly decrease and would have been rather close to only breaking even— mining back just X Bitcoin— if you shipped on time and would become worthless if you were late. Your contract allowed you to be up to two months late with no recourse, which would have made my purchase into a substantial loss. To prevent a total loss your contract guaranteed a cancellation and full refund if you were later than that. You were— shipping to apparently a fraction of customers three months after your advertised date and almost one month after your own self-set deadline.

Few sane would spend X bitcoins to purchase hardware which would only ever mine 0.1*X bitcoins, they certainly wouldn't do so at 5x the cost of the competition. Your company was abundantly clear on this and because of it some of us purchased, because while we saw how other companies exploited ambiguity we didn't expect to get ripped off by someone overtly violating their agreement.

Part of how you managed to gain sales originally was by convincing people your company understood the business of mining. It's ironic now how you insist on not understanding it— arguing that people should be happy to pay X bitcoin to buy hardware that earns a tiny fraction back when doing so is essential for your mindblowing claim that everyone's understanding all along was that you planned on refunding the full amount paid regardless of (and specifically due to) BTC price changes in the face of the fact that your founders and support staff clarified this point in the clearest possible terms several times in public and in private. Do you expect that people will want to buy your new mining boards from a company that now insists that it doesn't understand mining?