Quote from: ANTIcentralized on October 15, 2014, 11:10:59 PM

Quote from: philipma1957 on October 15, 2014, 02:27:14 AM

Quote from: RobFordWotWot on October 15, 2014, 02:07:48 AM

There's nothing wrong with ASIC manufacturer's pocketing a larger share of the money than those they sell miners to.

The problem arises when they defraud investors with intentional deceit.

Most companies make money off of the initial opportunity granted by having investment capital from home miner's orders. Then they pocket an additional portion of the investor's expected return, causing most to go into the red.

No other consumer industry would be able to do this.
It's a fact that will tarnish cryptocurrencies indefinitely, regardless of how widely accepted they become.

Pretty much agree with this. In a way they are like the bankers from the old school banking and stock exchange system of wealth.

Should be fun to see what happens when the two square off to slice up the pie so to speak. lets see if old money men simply absorb them.

It is well known that ASIC manufacturers can produce ASICs for next to nothing. If they are not able to sell their machines at retail prices I don't see any reason why they would not use their existing inventory to mine instead of just letting it "sit" in their warehouse.

That seems mostly irrelevant. It's about delivering as advertised.

If ASIC manufacturers want to mine with every ASIC they create that's well and good. They shouldn't sell consumers faulty, out of date, intentionally worthless hardware.

RobFordWotWot

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