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Author Topic: Butterflylabs Huge SCAM  (Read 378433 times)
bettlektuere
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May 07, 2013, 08:57:13 PM
 #1041

I also think so...  Undecided
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JimShoe
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May 07, 2013, 09:08:18 PM
 #1042

I'm sure they will come out to the general public at some point.
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May 08, 2013, 10:36:47 AM
 #1043

one of the biggest scam of all time ........
c0de
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May 08, 2013, 11:13:48 AM
 #1044

Well, i do think they will ship some units. They already shipped them to some users. The problem i think is they don't have enough capacity to produce the required number of units.

Also, see:

http://bfl.ptz.ro/


Everyone and their mom wants a piece of the asic action.
elgeo
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May 08, 2013, 11:25:06 AM
 #1045

I myself was VERY excited about those BFL SC things (http://www.butterflylabs.com/products/), but it sounded too good to be true. I was one step before pre-ordering the Mini Rig 'SC' for just $30k, which could deliver 1TH/s (update -> 1.5 TH/s according to the website now!). You know what? Bullshit.

Is butterfly labs mining with those ASICs at the moment? (https://bitcointalk.org/index.php?topic=110290.0)
Hell no! Do you see some huge raise in hashing power? No.
Would it be beneficial to mine on their own devices? Hell yes! More than just selling them.

Quote from: Desolator link=topic=110290.msg1200110#msg1200110
If circumstantial evidence isn't enough, try simple business logic.  The price is set at $149 for a 3500MH/s chip. At current prices, they would make $149 after about 10.8 days of mining!  So why doesn't Butterfly Labs just run them for 10.8 days instead of selling them?  Then they'd have $149 and the chips lol.  I mean seriously, read those last 2 sentences again, people.  You think they're not mining with them?  I can't be the only one that realizes this.  From a business perspective, if you had an investment that would pay off 200% in a month and you sell it off instead, you're a crazy person.

You know the true reason why they are not mining with them? They can't. They don't have them.

But they have already proven legit! They fullfiled the orders and delivered FPGAs!
Sure they have. Gained your trust. And will take them back. And you will pay even more. You will loose your working FPGAs and also money. Huge money.

Quote
Trade in terms: Qualifying trade in for upgrades can be either an older generation Mini Rig or 25 older generation Singles. Once your new rig is ready for delivery (currently scheduled for November), you'll be notified to ship your trade in units to us. Upon receipt we'll release your new Mini Rig SC for shipment to you.



They still could have runned before..
They could, but why would they? Establish trust. Then run away.
They could have stolen $1M.

Now they have $30M and the hardware. Many of you fell for it.

Quote from: squall1066 link=topic=89685.msg987282#msg987282
Total Orders (By last seen)        7678
   
Orders Tracked         227
Trade-In Orders         66
   
Units Sold   
   
Jalapeno SC            225
Single SC               231
Mini Rig SC               21
   
Extended TH   
   
Jalepeno SC       0.7875
Single SC             9.24
Mini Rig SC               21
   
Grand Total of   31.0275

I still trust them.
Really? What about that the CEO is a fraduster, sentenced to 3 years in prison and is currently released and violating the terms?

Quote from: elux link=topic=110805.msg1206567#msg1206567
September 15, 2010

UNITED STATES OF AMERICA v. SONNY VLEISIDES

...
The defendant is hereby placed on supervised release, effective immediately, for a term of three years under the following terms and conditions:
...
The defendant shall not engage, as whole or partial owner, employee or otherwise, in any business involving loan programs, gambling or gaming activities, telemarketing activities, investment programs or any other business involving the solicitation of funds or cold-calls to customers without the express approval of the Probation Officer prior to engagement in such employment.

As always, I feel terribly sorry for all you guys.


thanks i wanted also to buy one of those...but i didnt like the waiting list...

I don't have a signature because I'm not a customary person.
usafinders
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May 08, 2013, 12:01:02 PM
 #1046

you could make some coin if you are right
gennie24
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May 08, 2013, 12:57:03 PM
 #1047

be careful
lupinIII
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May 08, 2013, 01:01:14 PM
 #1048

NOW SHIPPING....I CAN'T BELIEVE....FOR ME IS A EBAY SCAM...SEE HERE FOR BELIEVE.....

http://www.ebay.it/itm/1-x-60-GH-s-Bitcoin-Miner-BitForce-Single-SC-ASIC-Butterfly-Labs-Avalon-/230976319554?pt=LH_DefaultDomain_2&hash=item35c742f042&_uhb=1#ht_5381wt_1228
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May 08, 2013, 01:29:54 PM
 #1049

I thought about buying one a couple of months ago but didn't trust them. Its waaaay too late now. The network will be knackered by the time I get one.
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May 08, 2013, 01:32:09 PM
 #1050

Give it another two weeks!
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May 08, 2013, 01:34:10 PM
 #1051

I don't want to sound like a push-over but at the same time I'd like to avoid sounding like the Henny Penny types in the Bitcoin scene and there are quite a few. You may be right about Butterfly Labs, though there is evidence of them rolling out the 5GH units at least.

Perhaps they are mining with them but if they just turned on all they got wouldn't that setup a possible 51% attack scenario which would become clear to everyone monitoring the network? I'm new to this whole thing so perhaps I'm wrong; hope not though since I recently pre-ordered one of the little ones. I payed via Paypal. Despite the advantage being touted for Bitcoin that there are no charge backs, I may take solace in the consumer protectionism of PayPal, knowing that I may dispute the order if there is evidence that Butterfly Labs is not acting in good faith.

There are quite a few people who clearly have a problem with ASIC, proclaiming that they will destroy Bitcoin in various ways. It seems to me, however, that ASIC will, if anything, save Bitcoin. In the long run mining will become a fruitless effort, ASICs or none. Maintaining the network on power intensive GPUs merely for the return of transaction fees is not going to be sustainable and ASIC offers a real solution to this problem if ramped up correctly.
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May 08, 2013, 01:43:08 PM
 #1052

There's a known 35 in the wild at the moment (of the 4.5/5g units) but shipping information is currently a little more relaxed than it has been. More interaction with BFL and clients.

BTC: 1Q9zM8QKYGn6PkvogV5YC4PU5TBN8rQNHt
PMB
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May 09, 2013, 12:32:32 PM
 #1053

Personally, I think they just started taking orders way too early. I mean, they started having power issues this year, when they started taking orders last year. I understand that you need money to get a working prototype up and everything, but you don't need to sell thousands of products, and then not give them something for months upon months. I think they will ship their products, but by the time they do, the market will most likely have a ton of ASICs online, and it'll be a lot less profitable. They should just start selling their chip like Avalon. I mean, from what I've heard their chip/products would be more advanced, at least according to the specs they announced.

Hello,

If they needed money, why not do a kickstarter instead of accepting orders?!


regards,

P
legendster
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May 09, 2013, 12:53:59 PM
 #1054

I myself was VERY excited about those BFL SC things (http://www.butterflylabs.com/products/), but it sounded too good to be true. I was one step before pre-ordering the Mini Rig 'SC' for just $30k, which could deliver 1TH/s (update -> 1.5 TH/s according to the website now!). You know what? Bullshit.

Is butterfly labs mining with those ASICs at the moment? (https://bitcointalk.org/index.php?topic=110290.0)
Hell no! Do you see some huge raise in hashing power? No.
Would it be beneficial to mine on their own devices? Hell yes! More than just selling them.

Quote from: Desolator link=topic=110290.msg1200110#msg1200110
If circumstantial evidence isn't enough, try simple business logic.  The price is set at $149 for a 3500MH/s chip. At current prices, they would make $149 after about 10.8 days of mining!  So why doesn't Butterfly Labs just run them for 10.8 days instead of selling them?  Then they'd have $149 and the chips lol.  I mean seriously, read those last 2 sentences again, people.  You think they're not mining with them?  I can't be the only one that realizes this.  From a business perspective, if you had an investment that would pay off 200% in a month and you sell it off instead, you're a crazy person.

You know the true reason why they are not mining with them? They can't. They don't have them.

But they have already proven legit! They fullfiled the orders and delivered FPGAs!
Sure they have. Gained your trust. And will take them back. And you will pay even more. You will loose your working FPGAs and also money. Huge money.

Quote
Trade in terms: Qualifying trade in for upgrades can be either an older generation Mini Rig or 25 older generation Singles. Once your new rig is ready for delivery (currently scheduled for November), you'll be notified to ship your trade in units to us. Upon receipt we'll release your new Mini Rig SC for shipment to you.

They still could have runned before..
They could, but why would they? Establish trust. Then run away.
They could have stolen $1M.

Now they have $30M and the hardware. Many of you fell for it.

Quote from: squall1066 link=topic=89685.msg987282#msg987282
Total Orders (By last seen)        7678
   
Orders Tracked         227
Trade-In Orders         66
   
Units Sold   
   
Jalapeno SC            225
Single SC               231
Mini Rig SC               21
   
Extended TH   
   
Jalepeno SC       0.7875
Single SC             9.24
Mini Rig SC               21
   
Grand Total of   31.0275

I still trust them.
Really? What about that the CEO is a fraduster, sentenced to 3 years in prison and is currently released and violating the terms?

Quote from: elux link=topic=110805.msg1206567#msg1206567
September 15, 2010

UNITED STATES OF AMERICA v. SONNY VLEISIDES

...
The defendant is hereby placed on supervised release, effective immediately, for a term of three years under the following terms and conditions:
...
The defendant shall not engage, as whole or partial owner, employee or otherwise, in any business involving loan programs, gambling or gaming activities, telemarketing activities, investment programs or any other business involving the solicitation of funds or cold-calls to customers without the express approval of the Probation Officer prior to engagement in such employment.

As always, I feel terribly sorry for all you guys.

I feel terribly sorry for this poster.

█▀▀█
██▄█
BESTMIXER.IO // BEST BITCOIN MIXER
█▀▀█
██▄█
Rampion
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May 09, 2013, 01:35:50 PM
 #1055

And you kids will be the ones crying after everyone else is mining 1TH/s.

Quoted for the lulz

Rampion
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May 09, 2013, 01:36:39 PM
 #1056

I have this feeling that all the idiots who scream that BFL is a scam will just disappear and make new accounts later this year. And there will be a few nuts that believe that hundreds of forum users are being paid by BFL to act like they got working ASIC's.

Quoted for the lulz (2)

luca662
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May 09, 2013, 01:44:06 PM
 #1057

I ordered a 60 Gh/h asic. I'm just afraid that its going to be a paper weight once I get it in about a year.
miningusa
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May 09, 2013, 01:51:39 PM
 #1058

Feel awful for everyone who ordered. Could have been such a money maker.
luca662
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May 09, 2013, 01:52:25 PM
 #1059

I regret not ordering from avalon, but hindsight is 20/20.
Schrankwand
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May 09, 2013, 01:54:20 PM
 #1060

I ordered a 60 Gh/h asic. I'm just afraid that its going to be a paper weight once I get it in about a year.

It would be profitable at a difficulty of over 2.5 BILLION. Which would need about 1.2 BILLION dollars to be invested in additional ASICs. So I doubt it would be a paperweight. It will not be a high speed money printer breaking even in ten days though.
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