Bitcoin Forum

http://news.yahoo.com/butterfly-labs-announces-next-generation-asic-lineup-054626776.html
According to yahoo which are pretty trustworthy they ae market leaders and yahoo areant gonan cover any small company are they tbh! I'm planning on gettign the jalapeño it'll pay back pretty quick s I'm happy!

Before doing that...read the Mining section of the forum
We don't know when BFL will release their new ASIC, and i think there is a lot of orders so difficulty will skyrocket!

Just my opinion...

http://en.wikipedia.org/wiki/Press_release

how do you know it will payback ?

I use the bitcoinx.com/profit/ calculator to assess if I would be profitable.

So far I am not buying any hardware cause no cash at hand...

There are actually threads tracking some order status with BFL:

• "Singles" - https://bitcointalk.org/index.php?topic=77796.0 (https://bitcointalk.org/index.php?topic=77796.0)
• the new "SC" (ASIC) hardware - https://bitcointalk.org/index.php?topic=89685.0 (https://bitcointalk.org/index.php?topic=89685.0)

... The New York Times helped make the war in Afghanistan happen. This is not of that magnitude, but the point is, it's not because some major source covers a story that it's necessarily true.

So naive, really you think yahoo covered them, on purpose? haha no. They were paid to indirectly by PRWeb.
Take a look again, see at the top where it says PRWeb, next to the date of the article.
That is the author, they are a syndicating press release company that has a connection to all the really big news sites.
Google it and read up on it, but essentially you pay money to submit it to PRWeb (£80/$120 I think), they don't unless you pay them change anything and submit it to sites like yahoo to be seen more publically.

It does not make them trustworthy, their actions (or sometimes inactions) are what counts. Like already stated try look into the forum area custom hardware where their is more than enough information surrounding them both good and bad points of the company.

I think the difficulty is going to raise with the release of these devices, basically making gpu's useless and also making ur investment harder to get back.  I do think you will make ur money back but I do not think it will be as fast as you may think

BFL could just start mining with your order, until it's no longer worth it, before shipping.

They could, if they wanted to destroy their business and undermine confidence in the security of the network.

They're smarter than that - they recognized that there's often more money in selling shovels and sieves than there is in panning for gold.

They'd have to be crazy not to if the income from mining is in the millions while selling is only in the thousands.

Selling is in the millions.

LOL if you order a single ASIC... by the time you get it.. it'll be like mining with a 7770 now, so worth the $130 bucks or whatever it is :P

I guess I see why so many people have you on ignore.

Even extremely conservative estimates based on the pre-order list for SC hardware alone will indicate that "in the millions" is a reasonable floor.
https://bitcointalk.org/index.php?topic=89685.0

So if they flop and cannot produce a similar to advertised unit, then what?

Viel Feind viel Ehr'  8)

The moderators, for unkown reasons, will not let me out of the newb forum so I can add myself to the wait list for the Jalapeno's I ordered last month.

I certainly hope BFL is legit.... they mentioned in one of their threads that they have caught up to all the backlogged emails, but that is totally untrue... I emailed them twice 2 months ago and still have gotten no reply.

Ok, so it was basically the same question I sent them, but worded differently.... So I was really expecting just one reply.  I know the answer to my question now, because it didn't take me long to find it here on the forums.

I'm a paying customer now.  Still have received no reply.  It's had me a little worried...

The power consumption will be lower, so even if the mining difficulty goes up, it will be worth it to replace an AMD card.

I ordered the Single SC myself and can't wait to get it. Even if the difficulty were to rise 10x, the money would still return in around two months. That's a great ROI if you ask me.

See what you've done? Happy now?

Redo your calculations at about 30x.  BFL is offering 3 sizes.  The smallest is 23 times more hashes/sec per dollar than what is commonly available with GPUs, the medium one is 30x, and the big one is 33x.  I'm projecting difficulty around 70 million.

Butterfly labs are like the gold mining tools shops during the Gold rush in Australia long ago.

everyone thought "what could be more profitable than GOLD"....

and yes a lot of people found Gold....and got rich....but many many more DIDN'T find gold...or found so little that it was not worth their international trip at all.

However....the "tool" sellers...sold to EVERYONE....the winners and the loosers...they made "guaranteed" money.....no risk of whether they will find gold or not...

did they make less money then some of the people who found large amounts of gold? perhaps....
but did they make money then MOST of the gold finders? YES!!!

and this is exactly what is happening with butterfly labs....hell if I had a chance I would much rather be the owner of butterfly labs then have a big mining operation..they simply cannot loose.....especially with their "pre-sales"

their profits are not dependant on the latest difficulty level...
nor are they dependant on the latest exchange rates...
nor do they have to mine first and get paid later.....they are getting paid in advance! and they have certainty...they know exactly how much they are earning before selling or even producing the item...

A sale in hand is worth 2 bitcoins in the mine?
(for our "English as a second language" folks...that was a modification of "a bird in hand is worth 2 in the bush")

wishing you guys, all the success in the world! (regardless of with or without bitcoin)

This is 100% right on. BFL is the big winner here. Not the miners.
In any environemnt that requires you to constantly update hardware to just try to get a piece of the pie the tool sellers are the only ones with a consistent income.

Wrong. Gold tool sellers had limited man power. If they could use all of their product at once, as BFL could, it would have made more sense for them to pan for gold, just as it makes more sense for BFL to mine.

would BFL start mining for "future returns"?....which is very uncertain and risky as bitcoins rates fluctuate all the time...
going as high as $30 at a time to the lows of $5.....

rather then selling each machine for probably 2-3 months worth of mining each....in advance! (and when everyone has them perhaps longer than that)

Infact the more machines they make and run....the less and less they make per machine....to the point where an upgrade would be necessary..or to lower the number of machines.....and if the question is about integrity (i.e. them using advance payments to run it themselves before passing it on...well that would kill their business instantly...as the difficulty levels will increase very quickly and no one will buy their shit.

this analogy applies to websites on flippa.....people sell their genuine adsense earning websites...for 5 times ...10 times the monthly income.

why don't they keep it?.....because of "uncertainty" of the future...

can ANYONE guarantee the Exact number of bitcoins u will make after getting these asic machines? NO....hence the risk!

butterfly labs wants to pass this risk on to us....and it is happier with perhaps a lower but safer investment...its machines!

its all about risk to reward ratio...everyone is at a different level....and what may be "hey why isn't everyone doing this.."
would be  "why the hell would anyone do that" for others.

and if the "gold tool sellers" had enough man power...their "costs" would also increase... unlimited manpower would work against them....because "finding gold" is not guaranteed....it would simply increase their chances of finding it..or lets put it this way, it would increase the SPEED of finding the gold, just like bitcoin miners.

on the other hand...if they had unlimited "customers" for their gold tools...their profit is locked in....while all the gold miners are competing against each other...(like bitcoin miners are).....a simple matter of supply and demand....

but bitcoin miners are additionally making the system more stable and faster....unlike those gold miners....

The big difference is with gold the more effort is taken the more gold can be extracted over that period.

i placed an order for

BitForce Jalapeno  3.5 GH/s @ 150$

looking forward to it really
to bad there isnt more info out yet on them

Any more news on when this will happen?

i emailed them asking

Hi ,, thanks for your note.
Shipping of the new units is still anticipated to begin in late October.  We are unable to predict accurate wait times, even estimates, until shipping begins.  We do not currently have finalized specifications on the power consumption or size for the new SC units. Although we are planning on making the power consumption less and the foot print smaller, we cannot guarantee that at this time. Both of these items will be better addressed by our engineers once production is underway.

Best, AD

...they still testing to fit their ambitious specs!  :o

Tis so weird and lot SPF people have said it but... Why don't they mine!
I know they can make millions in sales but if they don't sell them and just build a giant cluster they would control bitcoins and make millions and as they make more just add them to cluster. Then no one else would have powerfull asics.

Ignorance is bliss..

Lol. I love flame wars. Or not very flamed wars. So i thought posting that something is legit might work!
I thought maybe pirate but he's covered enough and he's cool.

so butterfly labs are legit?

should I order one?

and what's the scoop on the CEO being a mail fraud felon?  and what's the scoop on him scamming over 100 million bucks on these preorders for these nonexistent orders?  and what's the scoop on bryan micon's video getting verbally attacked by that asshole. 

is he a scammer or isn't he?  if he is, why hasn't somebody blown the f$%@ whistle on him?  p.s. if the whistle is blown and it is warranted and amounts to real pressure and finds that their entire facade is just a facade, and there is no product mentioned, and they disappear

that means bitcoins price is going to crash that's 100 million bucks invested into bitcoins infrastructure down the drain stolen.  it'll put a dent on the value

I'm preparing for the whistle to be blown and I'm shifting over to litecoin I've moved all my assets to lite coin and its gone up dramatically since I have.  nobody seems to notice litecoin

thoughts?

I think it's annoying that you resurrected a very old thread. There's lots of discussion about this in the mining section of the forum. I wouldn't risk any money on a BFL system until they start shipping out their 2012 batch.

bfl laughing at us all "haha, they ain't getting shit, we keep taking their btc, when do you think they will get it, that we are scamming all these ppl?" Will be the biggest bitcoin heist of all time.

well as a community we should have some sort of pressure on shit like this, because gigantic bitcoin heists hurt the bitcoin economy and youregoing to feel it in your own investment. 

there should be some kind of mechanism implemented.  and dude who is annoyed sorry buut fuck ignore me, this thread was misleading so I had to cap it off

really just publicity and maybe lawsuits might do the trick
 
the fact that we all know about it and its still going on blows my mind.  what a bunch of pussies.  nerds need to grow some balls and stop this nonsense

It seems like their intentions are good but until I see a working product in the hands of at least 10 members my opinion about bfl will stay neutral.

they are legit some uses might where there at the company

Before we go proclaiming them "legit" check out the date on that news article...


Now check your watch...

9 Months later, this is how far they got...

http://www.youtube.com/watch?v=4C4bgho5JSI&list=HL1364777092

it returns 15 test nonces and uses 3x as much power as it was designed to use.

This mean the Jalapeno, SC Single 60Gh/s, and Mini Rig SC are all foobared outside their heat/power levels!

If you're lucky they might be able to produce some Hot Power Hungry Little Singles 30Gh/s.

But we've still not seen it able to mine anything yet!

exactly

 ::)There are still uses for outdated ASICs....by mining litecoins instead.  Methinks Bitcoin is a victim of Gresham's law...there is so much speculation into BTC that it no longer will function as a currency...rather more like "digital gold".

I'm surprised BFL didn't come out as a scam on April 1st. God can you imagine? Greatest prank ever.

if i were the asic maker, i would use the devices to mine coins first, and not ship out the devices until the hashing difficulty is much much higher.

why sell the gold egg laying hens?

It's called 'testing'.  We're 'testing' your unit, yeah that's the ticket.

Avalon have decided to do exactly that with their next batch afaik...
And even if BFL was shipping in the near future, they would be much less profitable than what the "buyers"(pre-orderers) anticipated, considering their exaggerated power consumption.

Yeah, except no.

Why come out as a prank, when there are still tons of blind greedy people that ignore all warning signs and just "really hope it is true that I can get rich"?

Let me know how that works out for you, when you get your BFL asic in 2017 (if you're lucky since you probably won't get one at all)


and really, mainstream media is your source? Oh wait, this is an april fools day joke isn't it?  You got me you bastard

I hope BFL is legit and ships soon, I've been waiting for quite a while.

asics don't mine for litecoins whatsoever, different algorythm.  litecoin runs on script.  asics SUCK on litecoins

Just curious how much bigger is Bitcoin than Litecoin?

About this much:

http://thestar.blogs.com/.a/6a00d8341bf8f353ef01348559bfae970c-800wi

lol wtf.

I think they are Legit, Yes there have been delays but this is fairly difficult to do otherwise there would be loads of companies doing it. Yes Avalon beat them to it it terms of delivering the first working unit but they are not exactly flooding the market and the latest batch price is 5 times the original price point.

I considered ordering some of Butterfly products but decided to purchase coins instead, short term this has been great, long term who knows. If these units do ship then those lucky enough to be in the first orders will do very well indeed.

For me there were just too many unknowns. For instance 60 Gh/s sounds great but what if the total Hashing power just expands to make this below average? Then there were the delays and now the teething problems. I do hope they get it sorted but I am waiting to see how it turns out before investing in ASIC.