But some market participants may certainly try! For example:
When I ordered my mining equipment from the maker, the difficulty factor
was less than 1 billion. now, 5 months later, its 6 Billion and I still have not
received the equipment. Thankfully, i split my order among two MFR's, and the
other guy did deliver recently (after 4 month wait).
As a result, the undelivered equipment has been "devalued" by 84% (1 -(1/6)). For example, a 1000 (gigahash) (GH)
order then, is now about the same as a 166 GH order would have done back then.
Is this huge shipment delay justifiable? I think not. by design? yes, i think so. Here is my rational....
Equipment makers are incentivized to not deliver equipment. How? Why? the longer
they wait, the more the equipment is devalued, and this causes miners to
"wish for " more mining power that has unfortunately been vaporized while they wait.
no doubt, some poor souls have blown their budget
Is there some evidence for the above? Certainly. Some equipment makers try to induce customers
to buy more mining equipment even before the original order is delivered. Believe me folks, when I
say, that is mighty close to what a ponzi scheme structure is all about....
Holding the original order hostage puts the miner at a disadvantage, causes stress,
and ruins originally anticipated mining results.
Thankfully, equipment makers face bankruptcy when the cost of mining exceeds the expected return from mining.
As the difficulty factor rises, more and more hard cost electricity is needed to mine the next bitcoin.
Are we near the parity point yet? Well,
given the current bitcoin price, we certainly are getting close.
So for all you people, new or experienced, i suggest you do like me:
A. Do not order equipment from any mining equipment maker that owes you equipment that is still undelivered.
B. Do not order any equipment from equipment makers that cannot deliver equipment within about 8 weeks of order date.
while equipment makers make excuses why the equipment is unavailable, I suspect
they are using customer equipment that they are withholding in bad faith, to mine the bitcoins
that their customers wanted to mine... in most places, that is called "Fraud".
Possible? Well, I think we have all seen enough criminal activity with Bitcoin to know its quite possible
that it extends into the mining equipment maker arena. You all think Mt. Gox and its problems sits on
an island? I certainly do not...
I do believe Bitcoin can be an excellent system and investment in the long run, if the greedy people don't
kill its reputation forever...
Just my two cents.... you all can do as you please and certainly will, I am sure. I just hate to see sleezy equipment
makers floating on good people's hard earned cash....