On: Bitcoin ASIC Miner from BFL, finally

[starpilot]

I see it as a futures contract on the value of the BTC. Selling a mining ASIC locks in profit for the seller, betting that this will exceed the time-value generated from the rig itself. Buying a rig locks in a loss, betting that it will pay for itself. We can't be certain whether the BTC will be at US$1,000 or US$1 a year from now. You could make a case for either side, that's why the contract exists.

[sliverstorm → starpilot]

Which, by the way, doesn't mean they are betting against BTC. They just elected to take sure profit up front, over less certain profit of potentially greater value long-term.

[rbanffy → sliverstorm]

I don't think so. They probably needed the preorder money to fully develop the device and to be able to manufacture it.