Re: Black Arrow 28nm 100Ghash Bitcoin ASIC from $0.49/GH/s

This is the flaw in kickstarters and preorders the less the actual company invest the less incentive or motivation they have to achieve the goal especially if under bad management. These companies need to be forced into outlaying a portion of funding into escrow or showing they have funds to back a % of investment or receive no funding through preorders or kickstarters . Getting an intrust free loan to piss down the drain because you have good intentions and an idea just is NOT working.

that may well already be the case and probably is.

Here's a link to the former chinese law:

http://www.china.org.cn/china/LegislationsForm2001-2010/2011-02/14/content_21917139.htm

which states:

Advance Payments

Advance payments, installment payments, and other transactions involving merchants
management of consumer funds will require the establishment of earmarked, trusteeship
accounts at commercial banks.

Now the million dollar question is it being enforced ? Had BA been obligated by law to escrow the 70% they supposedly had on hand i bet those timelines would have been made or they would of bailed before the shit got real.

doubtful. they are registered in hong kong. The plant, as we know, is in shenzhen. different laws apply to the two places. this one is for the lawyers to argue over.

Yes i'm well aware of the shell game shady entity that BA is and the owners are scattered around the globe one in england supposedly and some in the islands and so on and so forth .

yep, the question is why that structure exists. why is the director in the UK, the plant in China and the registration in Hong Kong and WTF is going on in the virgin islands? what is the business reason for that? they'll offer some mumbo jumbo, I'm sure, but it sure seems highly irregular.

ya know Phinneaus Gage looks more and more like a genius every damn day......

Yep