Bitcoin Step by Step

The Best Way to Get Started

Pre-Order Frenzy

I ordered a TREZOR last September for 1 BTC.  It was supposed to be out in Oct/Nov.  Due to problems which were never really detailed they asked us to be patient and wait until Jan, then Feb.  It is now March 7th, and the last communication was last Feb 11th, stating the cases were misprinted and they had to reprint them.  That’s it, nothing more. I would have expected weekly reports of progress after the first delay.

There seems to be a trend with companies serving the Bitcoin community and I for one want to see it end.  People trust the companies more than they trust each other.  As a result these companies come in and promise goods and services then fail to deliver or decide its no longer in their best interest and the consumer gets holding the bag.

To name a few
– Mt Gox
– Take you pick on the security trading sites, where the company that raised the funds is the only winner.

I really don’t need to recap all the scams that have taken place.

For the record I did tout in my book that TREZOR could change the Bitcoin economy.  I should have been clearer, what TREZOR offers can change the Bitcoin economy, not TREZOR itself.

For the companies doing business in the US, the Federal Trade Commission has a rule called the 30 day rule which states

“When you offer to sell merchandise, you must have a “reasonable basis” for:

any express or implied shipment representation, or
believing you can ship within 30 days of receipt of an order — if you make no shipment representation or if the shipment representation is not clear and conspicuous.

Whenever you change the shipment date by providing a delay notice, you must have a “reasonable basis” for:

the new shipment date, or
any representation that you do not know when you can ship the merchandise.”

This exists so that companies cannot sell you something then drag out the delivery.  They, did state that this was a pre-order.  However, they also stated that shipment would start in oct/nov.  Then they stated they had some difficulties and were delaying to jan/feb.  Now they gave some bogus reason that the box was not just right and they only waned to send out perfect boxes.  Last I recall it was not the look of the box but what was inside it that matter.  As a matter of a fact from a information security stand point, a plain non printed box would be better for security.  I planned to scrape off any reference to the TREZOR anyhow.

So here are with yet another company thinking they are going to change the Bitcoin world and for that reason, we the simpletons should wait on them.  BFL certainly felt that way, and one of the emails I received from TREZOR this evening certainly expressed the same notion.  Heck look at their web site, they are convinced that they will change the world.  So much so that that should have been the first red flag.  I guess I missed it.

I get why the Bitcoin mining hardware vendors sell pre orders.  They can sell far more if you have no idea what your return will be.  Its something they have used to prey on would be miners.  I also get why it works, because everyone wants to be first.

I think this mentality or way of thinking that we can trust these companies to deliver is not safe or productive for the community.  I know I will no longer trust anything on pre-order.  I have been burned enough times (every time).

I hope this posting saves someone the grief.  All I really want is to strengthen the community.

If you’d like to see more about this the thread has a great input from others.  Feel free to revive it at any time.


2 comments on “Pre-Order Frenzy

  1. brett rossi
    March 11, 2014

    do you care if I retweet this page?

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s


This entry was posted on March 8, 2014 by in Spending, Trust.
%d bloggers like this: