Bitcoin Forum

Saw this on BFL Forums today...
https://forums.butterflylabs.com/bfl-forum-miscellaneous/3001-ars-technica-working-piece-bfl.html

For whatever it's worth please don't spam this dude. Regardless I thought this was a necessary drop point for this beacon.

Here's my take.

If any article is written without mentioning the Laissez Faire Connection, then it'll be a bias article.

Contacted.

EDIT: That was quick. He responded.

Yea, I'm formulating my response now.

Won't the article be biased anyway? 'Technica'-lly they are being paid/sponsored with a BFL money printing machine...which they never paid for, or asked for. It was just 'donated'.

And I mean this genuinely from neither an unsupportive, or supportive BFL standpoint.

Ars Technica's last article was pathetic. I don't have any high hopes to see a decent follow up at all. All they demonstrated was their total lack of understanding of Bitcoin, zero journalistic integrity, and that readership blags you freebies if you're willing to give a lot of praise back.

I'm a BFL bystander. Ars Technica have their work cut out if they want to improve in my eyes.

Unraveling who the BFL directors are and the source of BFL's funding are the only things I am curious about. Right now, there are only two threats to BFL's operations:

1) The executives and board pay themselves exorbitant salaries and burn all the cash on themselves. Knowing who the directors are would address this concern.

2)  If BFL only has pre-orders as a source of cash, then their cashflow is of serious concern. If they need more pre-orders to fund their backlog then they are vulnerable to the wave of ASICs due this summer. If they have investors, who are they and can they continue to write checks?

3) Is there any evidence of them mining to over costs? So yeah they need to see their figures...

I wouldn't have an issue with them mining to increase margins, as long as they were able to fill customer demand.
BFL's volume is so low right now, I am not sure it would matter in the long run to the thousands of pre-orders if BFL kept a few for themselves.

I realise that, and this is not an excuse to shout; "liar, liar, you said you wouldn't mine", but it means customer funds are presumably safe, and untouched if they have access to an additional revenue stream, regardless of the perceived integrity of behaving that way...

Fairly surprised that Arstechnica are being attributed with bad journalistic integrity, I always thought they were more balanced than most other tech sites. It sort of depends on which of their journalists is writing the article though, Cyrus Farivar is one of their team who I find it hard to make my mind up about. 

My assertion was based on his limited comprehension of Bitcoin itself, having been propelled to miner status with the gift of a Jalepeno. At which point you think he'll clue himself up a bit prior to writing an article. He didn't, you got an article based around a random with a mac being given a black box that does stuff...

http://arstechnica.com/gadgets/2013/05/weve-got-a-butterfly-labs-bitcoin-miner-and-its-pretty-darn-fast/

How exactly would you back up this bold statement?

I'm not the one scripting the piece, but I'd warrant that's where journalistic integrity could show both itself and some initiative by digging around how pre-order monies are used to justify the time taken.

Many here keep mentioning the pre-order funds remain untouched, so they want answers as to how BFL continue to function.

So you base your conclusion on hearsay and possible future journalistic investigation?

 :-X

Meow!

But seriously, this bold statement stems from the picture Josh/Inaba posted the other day of the Galaxy Nexus relaying stats from the Single SC rig being 'tested', that appeared to have earned a cumulative $8.5k the past month. Someone stated that may have been a prediction, but seeing as few have access to that GUI, we don't know. A journalist could enquire though...

I wouldn't begrudge BFL running a few miners to cover rent and associated business related costs as they deal with ongoing mistakes, if that's what they are. Again real journalism and investigative research has a place here, not here say.  BFL as much as they have invited their own abuse, deserve a fair review, but a fair review does require in depth investigation.

I don't see this particular publication doing that based on their previous article. I look forward to this aforementioned statement being proven incorrect and the incessant negativity directed towards BFL is also corrected...or proven correct, we'll see, or we won't. ;)

Still no facts to back up your assumption that the pre-order funds are safe. it's all wishful thinking IMO.

Maybe you can give Cyrus a quick briefing on the Laissez Faire Connection?

What the hell are you on about?!

Where have I stated I believe pre-order funds are safe?? I alluded to the fact if they are actively mining pre-order funds could justifiably be safe.

Dude your trolling, and you have an axe to grind. If it's not this thread your on my case in another. Witty banter I don't mind, but trying to manipulate posts and deviating threads off topic with an arsenic undertone wears thin after a while. <gratuitous smiley>

Yes, and I asked you what connection you saw between a BFL miner actually doing some mining and the pre-order funds being presumably untouched, as if one was a guarantee for the other.

It was a straight question requiring a straight answer. Where is your straight answer?

I have shown that Sonny Vleisides was along side James Ray Houston, et al., starting only a month or two after JRH started LFCity, with the court papers showing that the lottery scheme started at the same time. Yet, Sonny came here to this forum and stated that he teamed up with his dad in the late 90's--not mid 90's.

I've also shown that they both received millions in compensation (read salary) over the course of 5-6 years, as the liquidator, Johann Gevers has outlined.

Other founders of the failed LFCity can be found on this forum, as well.

Sonny was also instrumental in the development of the DMT, overseen by James Orlin Grabbe.

Sonny was the editor of Laissez Faire City Times prior to JOG taking over it.

The one thing that still eludes me is the pseudonym gleaned from the Ayn Rand novel Sonny used as his moniker, for JRH, his Daddy-O, penned under the majority of them fictitious characters.

did you communicate that to the ars editor?