Lets tell you a bit about our company. The driving force behind Novello is a group of professional engineers based in the UK with over 120 years combined experience in the design and manufacture of complex, highly reliable electronic systems and devices. We think profitable Bitcoin mining should be accessible to anyone no matter what their budget; by profitable we mean a device that will pay back its purchase price in less than 3 -4 months, even with a very large rate of growth in network processing power. More accessibility means more users, this will help strengthen the Bitcoin network and promote wider use of Bitcoins.
No offense, but having over 120 years combined experience you go to Indiegogo to raise money? Don't you have other means? Why present the project here when you could do it to some VC firms?
Looks like a scam.
Everyone is entitled to their opinion, but I'd point out to you that to get VAT registration in the UK the company, directors and their bank account have to go through some very tight security and identity checks.
Have you actually read all the text and FAQ's? Even if you still think we're not on the level then at least you might enjoy reading the technical content and our comments on how we think mining will develop. If you think we're wrong, then please feel free to share your opinions.
Having a VAT registration means nothing. BFL is operating for over 2 years and they scammed A LOT OF PEOPLE and they are still in business. Taking the legal way against a company in the Bitcoin field needs a lot of time and the authorities which aren't familiar with how bitcoin works aren't helping the customers. HashFast failed too and nobody is in jail, AMT failed and nobody is in jail. So your VAT means 0.
Thanks for your comments, and no offense taken. The reason we aren't going down alternative routes is that VC companies aren't too keen on financing asic mining project for the public to make money from them - they want to keep them in house to mine themselves, and that's not our ethos. The amount of money we need to even get to chip prototypes is simply way more than all our combined resources and then some, so this seems like a logic route.
We will never comment on how other companies conducted their business. None of us were BFL customers so have no knowledge of the quality of their service or products, but there is no argument that their products did (eventually) make a lot of people an awful lot of money. That's no excuse for poor service, but it is fact and we like dealing in facts.
I disagree with your opinion that a VAT number means nothing, but you're entitled to it like everyone else. How you enjoyed reading out pitch.