NEW info. Everyone is lying about ther ASIC project

[SLok]

Seems like all these so-called asics producers want your money before they even have produced a single asic-miner at all? And if you do not get involved now, either way you never get one that will pay itself back in a reasonable time, or will have to pay almost double the pre-order price when waiting.

it was the same with their fpga's and they did deliever.
i am not afraid

I'm not afraid too, because as you mentioned they did deliver those fpga's. I ordered 6 pcs of the Jalapeno first week of August btw.
I will order an Avalon from ngzhang too but not early, unless they make 'm $700 more expensive than the pre-order as they say. It will be a single SC from BFL than, or 2, if they are still around by then. 

[king_pin]

Seems like all these so-called asics producers want your money before they even have produced a single asic-miner at all? And if you do not get involved now, either way you never get one that will pay itself back in a reasonable time, or will have to pay almost double the pre-order price when waiting.

EXACTLY
They are counting on that to make you pay them formidable amounts of money without any securing, and all the mentioned above points.
I am beginning to believe that ASICs and particularly BFL will be the Next New Old Ponzi Scheme.
Cross our fingers and lets hope for the best!

[Monkey1]

Thats the choice you make.  Either buy now and hope there is a product and you get it early enough to make a profit, buy later and hope that its still viable to mine when you get it or give up mining!

[SLok]

Seems like all these so-called asics producers want your money before they even have produced a single asic-miner at all? And if you do not get involved now, either way you never get one that will pay itself back in a reasonable time, or will have to pay almost double the pre-order price when waiting.

EXACTLY
They are counting on that to make you pay them formidable amounts of money without any securing, and all the mentioned above points.
I am beginning to believe that ASICs and particularly BFL will be the Next New Old Ponzi Scheme.
Cross our fingers and lets hope for the best!

No, don't think so. Quite a setup, making and selling singles and mini-rigs with fpga tech, all also pre-payed and (being) delivered? Then promising asics and run off with the money? What about those other fpga sellers coming with asics on pre-order pre-pay, their own scam, or maybe set up by bfl as a smokescreen? We'll see, I'm not worried a bit, would order some 40Gh/s SC's now if I had more money.

[FactoredPrimes]

If this company is producing these super hashing units, then why are the selling them?

Wouldn't they make more profit by just plugging them all in an keeping them all for their own mega-pool?

If I was producing these I would not let one of them outside the company and keep them all running as constantly as I could. Unless I am missing something.

[laSeek]

If this company is producing these super hashing units, then why are the selling them?

Wouldn't they make more profit by just plugging them all in an keeping them all for their own mega-pool?

If I was producing these I would not let one of them outside the company and keep them all running as constantly as I could. Unless I am missing something.

Some of the ASIC's projects are doing that - at least at first to recoup their investment - which is pretty substantial.
Others chose to try and make a profit while doing something they think is worthwhile.

An important part of bitcoin is the community - I don't think everybody is out to make as much money as they can from it before ditching it and going back to standard currencies.

Cross our fingers and lets hope for the best!

Hope for the best, plan for the worst
Buy stocks - offset your investment.  If you're worried about being pushed out of bitcoin or your investment in GPU's being null'd - explore other ways you can use the GPU's for the sister/parallel currencies (litecoin, devcoin, namecoint etc) and push pool ops for more merged mining.
iirc there's a pool project here with multi currency support and the first bash at merged mining of currencies and there's been some talk recently on one of the other threads (I'll post the link if I stumble over it again) about exploring the use of GPU's for other currencies now that FPGA's & ASIC are hitting the markets in higher volumes.

[caffeinewriter]

   

They are playing with millions yet their website is made with WordPress.

and?

His point was that it seems unprofessional and maybe even a rush job. But it works for them, it works well. Should it be changed?

Allow me to list some Wordpress Powered sites:

http://icanhascheezburger.com/
http://boingboing.net/
http://mashable.com/
http://www.nytimes.com/interactive/blogs/directory.html
http://www.cnn.com/exchange/blogs/index.html
http://blogs.forbes.com/
http://arcadefire.com/
http://katyperry.com/
http://www.techcrunch.com/
http://blog.us.playstation.com/
http://ebayinkblog.com/
http://jquery.com/
http://wordpress.org/
http://dyndns.org/
http://thechive.com/
http://xtendmedia.com/

Guess what!? Wordpress is fucking powerful! Tweak it the right way, and it'll work for you. I wouldn't be pissed if you hadn't made it sound like WordPress is a low quality CMS.

[🏰 TradeFortress 🏰]

So? just wait till you get it

[SgtSpike]

If this company is producing these super hashing units, then why are the selling them?

Wouldn't they make more profit by just plugging them all in an keeping them all for their own mega-pool?

If I was producing these I would not let one of them outside the company and keep them all running as constantly as I could. Unless I am missing something.

http://www.reddit.com/r/Bitcoin/comments/1018ky/q_if_these_fpga_and_asic_miners_are_really_worth/c69i9r0

[FactoredPrimes]

If this company is producing these super hashing units, then why are the selling them?

Wouldn't they make more profit by just plugging them all in an keeping them all for their own mega-pool?

If I was producing these I would not let one of them outside the company and keep them all running as constantly as I could. Unless I am missing something.

http://www.reddit.com/r/Bitcoin/comments/1018ky/q_if_these_fpga_and_asic_miners_are_really_worth/c69i9r0

Thanks for the link, just what I was wondering about. I totally makes sense that if they tried to take a large bit of the mining action that it would comrpomise the currency. They make more by selling them to many people.

[RoboCoder]

Personally, i think they will probably deliver, however i expect it to deliver slowly and certainly not in the timeframe they have posted.  Or if they do, only a few of them will be filled immediately.  Interestingly enough, some of the other HHR ASIC's being announced (bASIC) are saying shipping in december..  which is probably at least a little more realistic.

(fwiw: i refer to the next gen ASIC's as HHR ASIC's - High-Hash-Rate, since GPU's are really ASIC's also..)

Personally, i plan to hedge my bets.  I am going to continue my steady add of GPU's - since they hold their value pretty well (at least the 7970's i use seem to) - i am not going to take much risk if i switch to HHR ASIC's and sell off my GPU's.

As to the reputation of BFL - i know people have received singles and mini-rigs from other posts in the forum - so they obviously are not a complete scam.  I just ordered a BFL single to see how long it would take to receive - I ordered it sunday, received a confirmation monday.  I sent a reply asking when it would ship and got no response - but i must admin i replied to the confirm which probably came from an unmonitored email address.  Have heard nothing since the confirm - but it has only been a few days - which from what i can see is not out of character for BFL.  If i get the Single in a reasonable timeframe - i will probably preorder some of the new HHR ASIC's.  I will probably also orderr a few more single just to reduce the noise in my lab - but i think at this point i wouldn't risk too much at any one time, i would trickle the orders so you don't stand to lose as much - but i am a little more conservative.

Side Note:  BFL_Josh - It would probably help leaps and bounds with customer confidence if there were a little more status in your receipt or at least another tickler email with an expected ship date if there is going to be a delay - i am sure if you have coders to do firmware and miners - a little script to do that shouldnt be that hard.  I am sure you are busy with the new stuff but invest a little in a support person to keep people up to date or more updates on the website and i will bet your preorders would more than double and that would do a lot for your bottom line.

Anyway.. my 2 cents.  Ultimately i look at the whole mining thing like real gold mining (was) or the stock market: the law of conservation of greed -> Any substantial reward will probably require and equal and opposite amount of risk.  Oh and like the stockbrokers tell you - don't use money you can't afford to lose..

Thus ends my soliloquy...

RoboCoder

[RoboCoder]

Interestingly enough...

As soon as i posted the previous message, i look at my inbox and there was a reply to the ship time - 6-8 weeks for the Single.  Soooo....  apparently the reply address to the confirmation IS monitored.

+1 for customer support (would have been a +2, but took 3 days to respond)..

I sort of expected that kind of a ship date so I am not terribly upset - i am still plugging along with GPU mining growth.. don't want to miss the coin...

[color]

I am still a newbie so this is the only place I can post this.

Josh from Butterfly Labs @ Bitcoin Conference 2012
http://www.youtube.com/watch?v=bT-smMzg54k&feature=colike

BTW, not my video.

[FactoredPrimes]

I am still a newbie so this is the only place I can post this.

Josh from Butterfly Labs @ Bitcoin Conference 2012
http://www.youtube.com/watch?v=bT-smMzg54k&feature=colike

BTW, not my video.

Neat.

[RoboCoder]

I see that the poll indicates over half agree that they will get them just not when they promise...

[king_pin]

I see that the poll indicates over half agree that they will get them just not when they promise...

It's not half but almost 2/3 because you can add the NO to the Not on time.

Did you read this shit:
https://bitcointalk.org/index.php?topic=110868.0

It is the funniest thing I've read, it is like e 5 year old retard is trying to make me believe in Santa!

[RoboCoder]

Did you read this shit:
https://bitcointalk.org/index.php?topic=110868.0

It is the funniest thing I've read, it is like e 5 year old retard is trying to make me believe in Santa!

Read it.. Sounds like it was written by a politician.  But i am withholding judgement for 6-8weeks (according to BFL's proposed shipping on the single i ordered..)

[squeept]

As a computer engineer and someone that runs their own business, I see lots of minor details being blown way, way out of proportion. So far, the ONLY thing that worries me is the past conviction of the owner. Even then, I still felt confident enough to place an order with them.

[squeept]

Also, you lose all credibility when you call it a ponzi scheme. For the love of god, learn to google and read.

[mem]

• No certain delivery dates.

yeah, they fucked this up last time so they are reluctant to make promises this time and blow it again

Despite what Inaba, apologists and Bull Fecces Lovers claim, they only updated their delivery times after 3+ months extreme pressure from the community. They only changed  their claimed delivery dates when it looked like they were about to be reported for fraudulent business practices - NO OTHER REASON.

• No pictures or schemes or anything.

they are literally sitting on a gold mine, that IP is going to be very closely guarded

Photos will not reveal anything about an ASIC's IP.

• Very limited information (actually there is no information on the ASICs).

see above

<SARCASM>yes because you can obviously reverse engineer an ASIC from a photo of its box.</SARCASM>

• No one answers their phone.

see their FAQ

See the most recent steaming pile of bullshit delivered by Inaba/ BFL_Josh/ Sonny.

• They answer your e-mail within 2-3 weeks.

they answered my last email the next day

And yet the forums have countless records of the contrary.
Any client daring to question where the order is can expect a scathing attack from the forums man-child and BFL shill Inaba.

• All their answers are with a maybe or possibly.

see the first point

All your points lack substance, please stop with the "Im a fool and trust them, why wont you be a fool with me".

• I never got it why are BITCOIN payments preferred.

duh, they want to promote bitcoin

DUH - Paypal would freeze  their account instantly, especially given Sonny's previous convictions.
They are selling a product that does not exist and their idea of reassuring clients is having that ass-hat Inaba attack and ridicule them on a public forum.

• The broke the law of e-bay - 2 months to appeal and ask for a refund with their 2 to 4 to 6 months delivery - maybe.

??

??

• They are a business registered in Massachusetts on the name of some Mexican woman.

because no Hispanic people live in Massachusetts

Just ask Sonny why he did the same when he was running his mail fraud scam.

• They are playing with millions yet their website is made with WordPress.

and?

Exactly, why wouldnt you trust a convicted con artist with millions of dollars - he certainly proved he couldnt be trusted the first time.
Why not let a convicted pedophile babysit your kids while you are at it.

• Up to today no one has either seen, touched or heard their ASICs. (even remotely)

see point 2

because they have yet to:

A) Have one successful build.
B) Have one that is able to work with the bitcoin network
C) They require water cooling so they do not catch fire.
D) Have one that does not catch fire after running for 12h.