Re: Butterfly Labs CEO 25 Million USD Mail Fraud — A Concise Summary of Evidence

[Sant001]

Is bitcoin price falling because of this?

[crazy_rabbit]

Is bitcoin price falling because of this?

It's possible, but it's silly. :-(

[sadpandatech]

lol remember when I said small companies don't pull multi-billion dollar chip-making facilities out of their asses?

so did the CEO use dirty funds to start BFL?

Noooooo.  By the time your'e convicted, served, and on parole, they've got your illegally gained money.

Unless one were to find some place to hide it in time.. Oh, I don't know, maybe something like that whacky digital currency thing people have been talking about, that you surely would have stumbled across while searching franticlly for a way to hide your 'winnings'.

[crazy_rabbit]

Once an action taken, most people tend to be in denial even facing hard facts.

Said but true. We are just stubborn animals.


EDIT

It's sad that only small amount of people even as an adults could hold themselves and do not eat that marshmallow.

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

I guess I'm having a hard time getting my head around it because I had such a good interaction with Josh at the conference. The machines they build aren't vaporware- they are real. Look good. Function. And required real investment and engineering to pull off.

Yeah, I'm having a hard time writing them off as a scam, even in the face of previous grievous altercations. Maybe I really am just so silly- but  if this were all a fraud, what an enormous fraud it would be- for me, unbelievable.

[crazy_rabbit]

lol remember when I said small companies don't pull multi-billion dollar chip-making facilities out of their asses?

No, they just order something from them. I understand the skepticism, but getting something even as complicated as ASIC manufactured by some company in china is not difficult to do. Lots of small companies are just design studios that pay engineers in China to make it work.

And why does no one point out that BFL isn't the only FPGA and ASIC company? There are others doing this, but BFL by far looks the most professional. Some of the other people selling FPGA's for example look like they are essentially doing small batch runs on a PCB fab facility  and soldering it all together in their kitchen when you place an order.

The CEO might be a convicted crook, but that doesn't mean they don't make FPGA's and ASICS.

[SuperHakka]

So who is the ASIC chip designer at BFL, and what's his or her experience in chip design?

[greyhawk]

So who is the ASIC chip designer at BFL, and what's his or her experience in chip design?

I think his nick is BFL_Pringles.

[Endgame]

Interesting thread, but I think people are overreacting a bit. BFL has no reason to scam people here. They'll make more money by delivering their asic's and fpga's than by stealing the pre-order money. They've already delivered two working products, and are the clear market leaders in this industry. Why would they throw that away for a little bit of pre-order money?

[crazy_rabbit]

So who is the ASIC chip designer at BFL, and what's his or her experience in chip design?

Making ASIC chips for BFL perhaps?

[SuperHakka]

So who is the ASIC chip designer at BFL, and what's his or her experience in chip design?

I think his nick is BFL_Pringles.

So, does anybody know anything about the real person behind the name? The industry I come from, if I was to buy from a source, I would have to do thorough due diligence and background checks before sending the money, or else I be in big trouble with the regulators. What due diligence has been done in the case of BFL?

[heavyb]

Once an action taken, most people tend to be in denial even facing hard facts.

Said but true. We are just stubborn animals.


EDIT

It's sad that only small amount of people even as an adults could hold themselves and do not eat that marshmallow.

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

I guess I'm having a hard time getting my head around it because I had such a good interaction with Josh at the conference. The machines they build aren't vaporware- they are real. Look good. Function. And required real investment and engineering to pull off.

Yeah, I'm having a hard time writing them off as a scam, even in the face of previous grievous altercations. Maybe I really am just so silly- but  if this were all a fraud, what an enormous fraud it would be- for me, unbelievable.

Did you happen to take any pictures or videos?

[crazy_rabbit]

Once an action taken, most people tend to be in denial even facing hard facts.

Said but true. We are just stubborn animals.


EDIT

It's sad that only small amount of people even as an adults could hold themselves and do not eat that marshmallow.

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

I guess I'm having a hard time getting my head around it because I had such a good interaction with Josh at the conference. The machines they build aren't vaporware- they are real. Look good. Function. And required real investment and engineering to pull off.

Yeah, I'm having a hard time writing them off as a scam, even in the face of previous grievous altercations. Maybe I really am just so silly- but  if this were all a fraud, what an enormous fraud it would be- for me, unbelievable.

Did you happen to take any pictures or videos?

No I didn't personally, but I'm sure someone did. They weren't shy about the machines, they opened them up, people could check 'em out, they set them up to mine. They had a small FPGA single, the MINI-RIG FPGA and a prototype ASIC single/jalepeno. All working, all you could touch and play with. Very cool. The mini-rig is VERY NICE.

The coolest part? They did a raffel for the FPGA Single and auctioned off the Mini-RIG (sold for 1000 BTC) and auctioned off the ASIC. So, they aren't shy about the equipment. Josh was there answering all sorts of questions- indeed I wish this came out the week before- he was really open about the company and their plans.

Josh also mentioned that they will do a day when they test the new ASIC rigs out on the real Bitcoin Network, and all the BTC mined for that one day they will give out to the developers. Pretty  cool if you ask me. So, yeah, I'm having trouble believing they are scam. I saw the equipment and they built it with care.

[niko]

Is bitcoin price falling because of this?

Is ASICMINER price raising because of this? How about Avalon? And cablepair? There is much more to Bitcoin, even to minng, than BFL.

[greyhawk]

Josh also mentioned that they will do a day when they test the new ASIC rigs out on the real Bitcoin Network, and all the BTC mined for that one day they will give out to the developers.

Let me get this straight: They will test the machines on main-net for 24 hours, driving up difficulty into who knows where and divvy up the BTC among themselves, before sending out the machines to customers?

Is that what Josh said?

Who else was witness to this?

Can I quote this?

[MrTeal]

No I didn't personally, but I'm sure someone did. They weren't shy about the machines, they opened them up, people could check 'em out, they set them up to mine. They had a small FPGA single, the MINI-RIG FPGA and a prototype ASIC single/jalepeno. All working, all you could touch and play with. Very cool. The mini-rig is VERY NICE.

The coolest part? They did a raffel for the FPGA Single and auctioned off the Mini-RIG (sold for 1000 BTC) and auctioned off the ASIC. So, they aren't shy about the equipment. Josh was there answering all sorts of questions- indeed I wish this came out the week before- he was really open about the company and their plans.

Josh also mentioned that they will do a day when they test the new ASIC rigs out on the real Bitcoin Network, and all the BTC mined for that one day they will give out to the developers. Pretty  cool if you ask me. So, yeah, I'm having trouble believing they are scam. I saw the equipment and they built it with care.

The prototype Single and Jalapeno they showed, were they hashing at 40GH/s and 3.5GH/s?
You said they got auctioned off, who won the auction, and do they have a functioning ASIC now?

[Rassah]

Josh also mentioned that they will do a day when they test the new ASIC rigs out on the real Bitcoin Network, and all the BTC mined for that one day they will give out to the developers.

Let me get this straight: They will test the machines on main-net for 24 hours, driving up difficulty into who knows where and divvy up the BTC among themselves, before sending out the machines to customers?

Is that what Josh said?

Who else was witness to this?

Can I quote this?

developers =! themselves

[fcmatt]

No I didn't personally, but I'm sure someone did. They weren't shy about the machines, they opened them up, people could check 'em out, they set them up to mine. They had a small FPGA single, the MINI-RIG FPGA and a prototype ASIC single/jalepeno. All working, all you could touch and play with. Very cool. The mini-rig is VERY NICE.

The coolest part? They did a raffel for the FPGA Single and auctioned off the Mini-RIG (sold for 1000 BTC) and auctioned off the ASIC. So, they aren't shy about the equipment. Josh was there answering all sorts of questions- indeed I wish this came out the week before- he was really open about the company and their plans.

Josh also mentioned that they will do a day when they test the new ASIC rigs out on the real Bitcoin Network, and all the BTC mined for that one day they will give out to the developers. Pretty  cool if you ask me. So, yeah, I'm having trouble believing they are scam. I saw the equipment and they built it with care.

The prototype Single and Jalapeno they showed, were they hashing at 40GH/s and 3.5GH/s?
You said they got auctioned off, who won the auction, and do they have a functioning ASIC now?

A BFL employee probably won the auction for the jalapeno...

I tried finding information about the london conf, pictures, video, anything... and failed.
Would have been nice to see some lousy cell phone vid of the jalapeno... but that kind of stuff is very hard to do for
non-techy folks like bitcoin users.

[szuetam]

No I didn't personally, but I'm sure someone did. They weren't shy about the machines, they opened them up, people could check 'em out, they set them up to mine. They had a small FPGA single, the MINI-RIG FPGA and a prototype ASIC single/jalepeno. All working, all you could touch and play with. Very cool. The mini-rig is VERY NICE.

The coolest part? They did a raffel for the FPGA Single and auctioned off the Mini-RIG (sold for 1000 BTC) and auctioned off the ASIC. So, they aren't shy about the equipment. Josh was there answering all sorts of questions- indeed I wish this came out the week before- he was really open about the company and their plans.

Josh also mentioned that they will do a day when they test the new ASIC rigs out on the real Bitcoin Network, and all the BTC mined for that one day they will give out to the developers. Pretty  cool if you ask me. So, yeah, I'm having trouble believing they are scam. I saw the equipment and they built it with care.

The prototype Single and Jalapeno they showed, were they hashing at 40GH/s and 3.5GH/s?
You said they got auctioned off, who won the auction, and do they have a functioning ASIC now?

I want to joint to this question.

[jjiimm_64]

The CEO might be a convicted crook, but that doesn't mean they don't make FPGA's and ASICS.

Many of the CEO's on wall street should probably be locked up!

[kibblesnbits]

Let's put a bounty for pics of the ASIC devices.  Having one of these now would be like having an iPhone 5 in July.  There are YouTube videos of the London conference.  Search for butterfly labs.