Last year RIOT started adding an attachment to it’s monthly production updates with a chart of what the projected hashrate would be in the future. Each month, we got a new actual hashrate and a new projected hashrate schedule.
I spent some time pulling every one of these attachments and extracting the projections:
Each line (except for Actual in black) is the projected hashrate chart RIOT produced for that month’s “Production and Operations Update”. The black line is the reported current “hash rate capacity”.
Judge for yourself if these projections have been realistic.
Putting too much faith into projected data is nothing but idiotic. Anybody with background on forecasting study will tell you they are placeholders until actual comes. I strongly suggest to read about the theory of efficiency.
Looks like they didn’t accounted for the external variables and just used constants. Someone with bad forecasts experience did the job for them. In this case, this is called fraudulent presentation
Disclosure: This thread can be found on Reddit. Medianista has no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. The views and opinions expressed herein are the views and opinions of the authors.
BASED ON OUR EXPERIENCES – DO NOT TRUST CHAD EVERETT HARRIS OR ANYTHING HE’S INVOLVED WITH!
Chad Everett Harris, Whinstone, Riot Blockchain, Northern Data AG accused of accounting fraud Read that article here.
Chad Harris defaults on million dollar loan, click here to learn more. Be sure to read the court doc. It’s a hoot, He tries to play the victim. The judge ain’t buying it.
Chad Everett Harris owned this business while defaulting on loans and invoices. Click here to learn more.
Chad Everett Harris is a porn spammer? We believe he did that while sending email like these to the people he owed money to.