Does Butterfly Labs Deliver?

[Paladin69]

I like my mini-rig.  But my estimated btc income per day is dropping slowly little by little...

[arklan]

I like my mini-rig.  But my estimated btc income per day is dropping slowly little by little...

as is everyone's, really. and i don't think there is any circumstance where that won't be the case. the keep a given level of income from mining, one will need to continually grow their hash rate. i'm not suggest we'd need to buy a new $1000 worth of hardware each month, but now and then to counteract the rise in difficulty? yea.

now, if only i had the money to DO that...

[psilan]

I like my mini-rig.  But my estimated btc income per day is dropping slowly little by little...

Has the investment paid itself off yet?

[HDSolar]

I like my mini-rig.  But my estimated btc income per day is dropping slowly little by little...

Its going to do that since that is how bitcoins works, sucks and I am right there with you.

To answer the bigger question, they deliver!  Slow and with some tweaks but they do deliver.  Got first single perfect no problems but slow.  Got ten more singles and slow again but two out of ten did not work right, traded out and two weeks later they were replaced.  All 11 working and if I could get the room colder without effecting cost they work as listed. 

I will send a photo of my little crop soon.  Also I am in on a mini-rig too but that is hosted offsite.

Getting ready for the SC switch too so looking forward to that (I hope that goes well but I know BFL will deliver on those in Nov'ish time).

[CJGoodings]

I wonder how long they will draw it out before packing up all your btc & fpga trade ins and heading for their newly purchased private island.

[GernMiester]

Yes. But slowly

[MXRider]

I like my mini-rig.  But my estimated btc income per day is dropping slowly little by little...

Has the investment paid itself off yet?

No way. I'm not sure that any MiniRigs has time to pay itself off. Maybe gigavps got them early enough and sold coins when the price was ~14 but I doubt that.

[jjshabadoo]

Mini-rig was a pre-funding option for BFL to begin their ASIC development. They knew they would then have 50% lock-in for their ASIC terahash rigs or so it seems.

It will still work out for mini rig folks as long as they do the trade-up, without it they have zero economic chance outside of a huge price spike.

[crazyates]

Mini-rig was a pre-funding option for BFL to begin their ASIC development. They knew they would then have 50% lock-in for their ASIC terahash rigs or so it seems.

It will still work out for mini rig folks as long as they do the trade-up, without it they have zero economic chance outside of a huge price spike.

http://bitcoinx.com/profit/
Break even on a Single: 224 days.
Break even on a MR: 173 days.

IIRC, the first MR started showing up ~ 3 months ago. That's 90 days. we still have ~60 more days till the ASICs start shipping. That's pretty close to the break even, even without ASIC level difficulty.

[Paladin69]

I'm estimating 120-150 days to pay itself off depending on where the spot price goes.  I earned almost $3.5K my first month owning...I would've been $4.5K if it weren't for Pirate causing the market to drop due to his stealing from others.  No stock in the world can return that kind of dividend regardless.  I will be upgrading to ASIC.  I'm even tempted to buy a second ASIC rig.

People also have to remember that those of us buying mini-rig's aren't buying into bitcoin.  We're buying into the security network that can audit the ledger transactions that just so happens to earn coins and fees in the process.

These rigs can be retooled to mine for anything else the market decides could possibly be more valuable than bitcoin in the future.  They can do a variety of things.  Even hackers see value in them for brute force stuff.  Their resale value should maintain so long as you keep up with the ASIC upgrade path.  SHA-2 has a variety of uses as a technology that many industries can see value in.

The biggest loser will be kids that can't afford more than GPU's and people that stick with FPGA's and not upgrade.  They will be displaced and drop out of the market.  It sucks for those that don't have money so I sympathize with them.

[crazyates]

I'm estimating 120-150 days to pay itself off depending on where the spot price goes.  I earned almost $3.5K my first month owning...I would've been $4.5K if it weren't for Pirate causing the market to drop due to his stealing from others.  No stock in the world can return that kind of dividend regardless.  I will be upgrading to ASIC.  I'm even tempted to buy a second ASIC rig.

People also have to remember that those of us buying mini-rig's aren't buying into bitcoin.  We're buying into the security network that can audit the ledger transactions that just so happens to earn coins and fees in the process.

These rigs can be retooled to mine for anything else the market decides could possibly be more valuable than bitcoin in the future.  They can do a variety of things.  Even hackers see value in them for brute force stuff.  Their resale value should maintain so long as you keep up with the ASIC upgrade path.  SHA-2 has a variety of uses as a technology that many industries can see value in.

The biggest loser will be kids that can't afford more than GPU's and people that stick with FPGA's and not upgrade.  They will be displaced and drop out of the market.  It sucks for those that don't have money so I sympathize with them.

These ASICs perform a double SHA-256, which has been pointed out elsewhere, has no other functional use outside of bitmining. BFL said these cannot be used for password cracking. Hate to tell ya, but you're making a 30k bet that BTCs are here to stay.

[jjshabadoo]

Well the key as Paladin pointed is securing the network. I wasn't comfortable with BFL's pre-order restrictions which is why I didn't buy from them. I also was concerned about distribution of ASIC technology which we all went over ad nauseum. I feel comfortable now that there is some competition and it appears BFL has addressed previous issues.

In the end we will now see wide deployment of ASIC technology which I NEVER felt was a bad thing, as along as it was distributed widely so there was limited chance of "cornering" the mining market.

Of course people will still be pissed if there is a price war, because we all know this technology had high development cost and very low production cost after the product is developed.

This might not be great for early adopters depending on when prices drop, but it will certainly be good for the network as people will continue buying hardware as prices drop.

In the end we will see bitcoin being secured by a petahash in due time.

This is great news for any of us who believe decentralized digital currency is the people's weapon against international banking cartels.

As someone who has a few business plans for bitcoin related businesses, this is the news I had been waiting for.

[Badonkadonk]

Well the key as Paladin pointed is securing the network. I wasn't comfortable with BFL's pre-order restrictions which is why I didn't buy from them. I also was concerned about distribution of ASIC technology which we all went over ad nauseum. I feel comfortable now that there is some competition and it appears BFL has addressed previous issues.

In the end we will now see wide deployment of ASIC technology which I NEVER felt was a bad thing, as along as it was distributed widely so there was limited chance of "cornering" the mining market.

Of course people will still be pissed if there is a price war, because we all know this technology had high development cost and very low production cost after the product is developed.

This might not be great for early adopters depending on when prices drop, but it will certainly be good for the network as people will continue buying hardware as prices drop.

In the end we will see bitcoin being secured by a petahash in due time.

This is great news for any of us who believe decentralized digital currency is the people's weapon against international banking cartels.

As someone who has a few business plans for bitcoin related businesses, this is the news I had been waiting for.

+1

now we only need to get more buisnisess to accept bitcoin, as finland is at a good start im hoping atleast scandinavia will follow in there footsteps.

i live in a pretty small town, like 10k-15k ppl and ive allready talked to a few of the local shops about it, and they seem to be a bit interested ( pun intended )
would be awsome beeing able to go out and buy groceries or hardware and whatnot for bitcoins using a smartphone 

[iCEBREAKER]

decentralized digital currency is the people's weapon against international banking cartels.

Nice turn of phrase.  Mind if I steal it?  

[Zack]

Sincerely hoping my jalapenos will get here before the end of the year. I've heard they are just NOW shipping singles (Not ASICS) ordered from early August.

[imsaguy]

Sincerely hoping my jalapenos will get here before the end of the year. I've heard they are just NOW shipping singles (Not ASICS) ordered from early August.

The singles shipping time is the best its ever been.  You should have done more research if you were worried about a 30 day turnaround.

[Zack]

Sincerely hoping my jalapenos will get here before the end of the year. I've heard they are just NOW shipping singles (Not ASICS) ordered from early August.

The singles shipping time is the best its ever been.  You should have done more research if you were worried about a 30 day turnaround.

I've read and done quite a bit of research on BFL and their problematic shipping, and I of course was not looking for a 30 day turnaround, I was given an estimate that pre-orders would begin shipping late October-Early November, so I'm hoping to get it before January.

[CJGoodings]

So many pre-orders with 0 proof that the ASIC tech will even work.... its just blows my mind that so many people will throw thousands into a site that sells you a place in line...

Now i understand how so many of you guys are taken for everything your worth by people like Pirate.

[Zack]

So many pre-orders with 0 proof that the ASIC tech will even work.... its just blows my mind that so many people will throw thousands into a site that sells you a place in line...

I have a few worries, but $170 of investment isn't much for me. Can't speak for people who have pre-purchased single SC's or even mini rig SC's, for me that is just too much to invest in something I have yet to see actual proof of, though if I have owned BFL machines before I could have a different outlook on this.

[nolo200]

They have refused to allow anyone to pick up a unit or see their facility.  I have asked.  I'm very close to Kansas City, so it would be easy if I knew their address.