Be aware of Butterfly Labs Miners

[k9quaint]

This is why the BFL folks suddenly reappeared on these forums:
https://bitcointalk.org/index.php?topic=252233.msg2694806#msg2694806

They are terrified that pre-orders will turn into refunds and then buy Avalon, Bitfury or KNC. Thus the full court spin press.

Knock knock.
Who is there?
Peta.
Peta who?
Petahash before you get your BFL.

[crazyates]

Actually, I'm pretty sure you CAN'T replace the word ASIC with GPU in that sentence about 60% resale value.  GPUs have other purposes, ASICs do not.  Stop peddling bullshit.  Nobody's in the market here.

A 5830 today earns roughly the same hashrate as back in late 2010 when people started using them, when poclbm was released. And up until the ASICs started hitting, people were still mining with them. They weren't mining as many BTC as they were back in early 2011, but they were still hashing away.

People buying and selling GPUs and FPGAs here on the forums for the past 3 years care very little for other "purposes" besides mining. If you get 10% lower hashrate, it better be worth 10% lower unless it can do something extra, like use less power.

The only way ASICs don't have a resale value is if BTC drops to zero, and completely collapses. Other than that, ASICs will have a resale value, and people will buy them.

[Bicknellski]

Once again, replace ASIC with GPU.  Exact same post as in the past.  Same reasons it's complete junk.

Come up with some original material, please.

Stop wasting your time posting... start shipping units to your customers.

[YipYip]

However, the GPU days are coming to an end.  The ASIC days, on the other hand, are just getting started.

GPU days are long gone. You are an idiot posting otherwize.

The golden ASIC days are over too. Stop trying to scam people into keeping faith in getting any profit of their late delivered ASICs. There will be only tears and over due power bills.

Just one example:



Batch #1 Avalons made a killing. Batch #2 Avalons (you know, when you started shipping a few units / day) will brake even.

The only reason the graph is not slumping down completely is because Avalon users figured out how to get a 20% increase in GH/s due to overclocking (with an increase of power consumption of course). Can BFL users get an equivalen boost of their revenue with the current flaky equipment?

Anything after August will just evaporate in hyperdifficulty (I'm coining that term after hyperinflation)



Anybody receiving equipment in August or later is going to be completely out of any kind of profit

There is no 60% resell value for an ASIC (unlike GPUs) unless you can find a bigger idiot than you (which seems to be today's business plan for most delusional investors)

Stop blowing that good new trumpet. You know where you can shove it

Once again, replace ASIC with GPU.  Exact same post as in the past.  Same reasons it's complete junk.

Come up with some original material, please.

Actually arent we all scum bags and assholes,trolls and whatever other profanity you have labeled the entire forum of users at bitcointalk.org 

So in the same vain as you

"F#@K OFF YOU LYING DOUCHE"

[TheSwede75]

Based on how the ASIC miners are coming online by the thousands, and the fact that difficulty have been increasing at a steady rate of 1.26% since beginning of year, there's no reason to think that the rate of difficulty increase will ease soon over the next few months.

Meaning if you buy a ASIC miner that have no other use than mining BTCs:
70% of profit is mined in the first 3 months!!!!
97% of BTC is mined in the first 9 months!!!!!!!!!!

The economics of buying ASIC miners from Butterfly Labs makes no sense.  Considering that:
- They are extremely slow in shipping, 2 months or more meaning a year or 10.  They are still trying to ship the June 23rd order from LAST YEAR
- No refunds, all payment upfront.

While they are busy using the rigs to "burn in testing", they are getting a lot of BTCs for themselves for sure while their customers are waiting for them to ship.  So if they delay the order by 6 months or so, they would have earned 90% of the profit themselves.  By the time their customers receive their last gen order, it'll be obsolete because their little 5GH/s unit cannot compete with new 500 GH/s or 1TH/s ASICs.

Furthermore there's no data on power consumption, meaning that the power consumption is likely very significant.

So stay away from ButterflyLabs and don't be the fish biting their hook!

That is an impressive amount of bs and lack of knowledge.. OP is 12 years old

[samsonn25]

Based on how the ASIC miners are coming online by the thousands, and the fact that difficulty have been increasing at a steady rate of 1.26% since beginning of year, there's no reason to think that the rate of difficulty increase will ease soon over the next few months.

Meaning if you buy a ASIC miner that have no other use than mining BTCs:
70% of profit is mined in the first 3 months!!!!
97% of BTC is mined in the first 9 months!!!!!!!!!!

The economics of buying ASIC miners from Butterfly Labs makes no sense.  Considering that:
- They are extremely slow in shipping, 2 months or more meaning a year or 10.  They are still trying to ship the June 23rd order from LAST YEAR
- No refunds, all payment upfront.

While they are busy using the rigs to "burn in testing", they are getting a lot of BTCs for themselves for sure while their customers are waiting for them to ship.  So if they delay the order by 6 months or so, they would have earned 90% of the profit themselves.  By the time their customers receive their last gen order, it'll be obsolete because their little 5GH/s unit cannot compete with new 500 GH/s or 1TH/s ASICs.

Furthermore there's no data on power consumption, meaning that the power consumption is likely very significant.

So stay away from ButterflyLabs and don't be the fish biting their hook!

That is an impressive amount of bs and lack of knowledge.. OP is 12 years old

Now we know its all TRUE

Especially the fact that every ASIC manufacturing company mines with the equipment for for weeks at a time because they can.

Miners are low man on the totem pole unfortunately.

[madsusies]

frostwind are u an American citizen or just i't, everything here is well know a long time ago. It's people own s't if they invests in miner.

[xstr8guy]

frostwind are u an American citizen or just i't, everything here is well know a long time ago. It's people own s't if they invests in miner.

Frostwind started this thread in July of 2013.

[samsonn25]

But the last post from last year was Swede accusing someone of being stupid.  Turned out he was the stupid one and he hasnt come back in since last year.  LOL

The BFL 5gh was selling on Ebay for $3500, now makes 60 cents a day

[madsusies]

frostwind are u an American citizen or just i't, everything here is well know a long time ago. It's people own s't if they invests in miner.

Frostwind started this thread in July of 2013.

  In July 2014 will be btc death, carma   

[samsonn25]

Mining will be almost impossible by then anyway