... get funding ...
You're asking for us to be investors, why not give us the benefits of investors in return ?
Hi Ben,
Thanks for your input.
Strictly speaking you're buyers, not investors. We promise you delivery of an item at a future date in return for your payment. I can see why you might think that though, your 'investment' , as it were, is to give you a commercial advantage when your item gets delivered.
As a company we will use virtually all the money we get in orders to fund system development, satisfy those orders and stay afloat while doing so. After that we have to try to solicit more orders to keep the company going and invest in R&D for new products.
In traditional markets such as if we were buying a car or even a computer you would be correct in saying that we are buyers, not investors. However, people who purchase miners are not purchasing hardware so much as they are purchasing an investment. So even with "off the shelf" purchases we are investors who are taking a calculated risk with what we purchase. We aren't buying a miner to be cool (or hot) or because it gives us pleasure to look at or provides any utility to us outside of an investment.
The pre-order scheme takes that investment mindset a step further and asks the customer to take on additional risk beyond their calculated risk. It asks the customer to take risks that can't be calculated as accurately because there is less available information. Strictly speaking, from our perspective, in a pre-order we are not buyers but co-investors. A company who understands that this is the mindset of the small-time bitcoin miner would be a refreshing approach to the market.
Well put, and exactly in line with our ethos. I'm sure you've read through our proposal but due to it's length it takes a few readings to fully understand how we have approached the project.
Firstly, it's not a one off, and our GSP idea came about because, as we said, we want to build a sustainable business, not get rich quick. That means we carry our first adopters, for want as a better expression , 'with' us and make sure they are the ones we look after and help to maximise their earnings. No other company has ever proposed this.
Secondly, we're firmly against centralisation and at the risk of concerted attacks on ourproject we come to it again and again in our proposal and say how we're going to help the 'little guy' compete against the hash farmers. Not everyone welcomes that idea, I can tell you.
No matter how much you would like it to happen, no commercial company is going to basically issue 'shares' to investors, supply them with a rig then on going profits. You can buy a cloud hashing deal, but the less said about those the better.
We are saying: back us to get the project started, we'll give you something that will give you an immediate financial advantage when it's delivered then keep you supplied with discounted hardware to keep that advantage. Maybe not exactly what you would wish for, but unfortunately it's the best we can offer just now.
That's not so say that a future project might not follow your suggestion more closely.
Thanks for taking the time to post this.