Post
Topic
Board Hardware
Re: Is withholding Mining Machines fraud and does that provide for a damages claim?
by
whyinvestinbitcoin
on 09/07/2014, 15:45:00 UTC
I suppose they have carefully positioned themselves to avoid any back lash. The only reason there is no ROI with mining is because the manufactures mine the coins first. If these Neptunes were delivered even 3 months ago we would have all seen a ROI. Now we are looking at reaching not even 80% of the BTC that could have been bought at the high price of $950.

Lesson learned you could say, but I'm just saying it stinks to high heaven that although they delivered what was promised, that I pre-ordered and that their contract had no stipulations on what they could do with the cash, I still believe that regardless of contracts that it could be considered fraud if they used the machines we own to do any of the mining.

It's likely that they used the money to build as many jupiters as possible to mine as much as possible, delaying the production of the Neptunes as the priority is to mine as fast as possible.

All very clever, but just means the consumers who supported them and got them where they are have lost out big time in that the amount of BTC they could have bought (even at higher prices) will not be matched by the amount of BTC that can be mined.

For a ROI value of 0% for a Neptune delivered today I believe should be approx. $3,500. Delivered next month approx. $2,000. They should be selling them for $2,000 today for delivery today if there is even a hope in making a decent return. So much for the $13,000 that I paid for them. That's $15-19,000 that I will never see again. I was expecting to see them at the beginning of Q2 since they were presenting it as such with 'delivery Q1/Q2' and other such statements. Even if it was delivered in mid May I would have made my money back.

I'm just glad I didn't buy any more than 2. At least coin terra started mining for me early June even though I ordered from them in January.