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Author Topic: Butterflylabs Huge SCAM  (Read 415241 times)
redlight
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May 15, 2013, 11:06:36 PM
 #1241

Its a scam.
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Exoskeleton
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May 15, 2013, 11:08:17 PM
 #1242

OK you guys want to see some shit, check this out.

http://www.wired.com/wired/archive/14.10/gizmondo.html

I read this a while back and the first thing I thought of when I heard the historys of the people involved in BFL was "gizmondo..."

From the article:  "In just a few years, it seems, Eriksson went from languishing in a European jail cell to making millions as a tech executive"

Its a long read but a good one. To sum it all up there was a company a few years back a lot like BFL that promised a product with specs that were impossible to deliver on. They then got a bunch of investor money because people beleived it could be delivered. It got delayed and delayed because they lied about how fast they could make it. By the time it came out it was terrible and failed. But the CEOs and scammers who started the company got away clean because in the end they did deliver a product so it "was not an illegal scam". They paid themselves enough to afford $1,000,000 sprots cars (ferrari enzo) and got away with financial murder.

This is exactly what is going to happen with BFL
MooC Tals
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May 15, 2013, 11:09:05 PM
 #1243

The scam is in the pre-order and refund cycle. If a company had money it would not need to collect pre-orders until they had a working proto-type and NOT FOR A FULL YEAR!!

Money was taken in and used for research and development, all the while telling you all that deliveries were to begin soon if X was done.

There are laws against this. BFL states the money is not being used for research and the money made from the previous product is the money that is funding their operation.

People who didn't like waiting send in their refund. When the money goes low they put pictures of their progress to generate more pre-orders. That is the scam and this is why Josh just says ask for a refund.

Now there is a product (that pre-adopters have funded). I guess it is a good time to raise prices but then again the power figures and low prices were to attract pre-orders and kill competition.

The intention of making and delivering was always there it was the funding of their company to get to the finished product.

My opinion from my experience and from what I have read here and on their forums.

 
amytheplanarshift
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May 15, 2013, 11:09:32 PM
 #1244

Scam or not, I ordered to jalapenos about 5 months ago and I am looking forward to receiving them. Smiley

http://nem.io/
XEM: NBT6RQ-B2K3DN-EB3BDF-TUE3FT-SBDCJJ-L4PCX5-GKL6
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May 16, 2013, 01:29:30 AM
 #1245

http://www.reddit.com/r/Bitcoin/comments/1c1jqd/butterfly_labs_may_be_scamming_us_all/

haha This shit keeps getting better. Check this out.
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May 16, 2013, 01:55:11 AM
 #1246

I went to BFL's office today and had a brief conversation with Dave.  More or less Dave was polite in answering my questions, but definitely did not want me in there.  The conversation raised several red flags and did not inspire confidence in this company being able to deliver as advertised.  As a result of this conversation, my company has elected to seek out other vendors to meet our needs.

Some highlights for those curious:

July seems to be their new target month.

Their 1,500 rig is being redesigned physically.  It will have a new price (going up?) to reflect this.


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May 16, 2013, 02:04:22 AM
 #1247

I went to BFL's office today and had a brief conversation with Dave.  More or less Dave was polite in answering my questions, but definitely did not want me in there.  The conversation raised several red flags and did not inspire confidence in this company being able to deliver as advertised.  As a result of this conversation, my company has elected to seek out other vendors to meet our needs.

Some highlights for those curious:

July seems to be their new target month.

Their 1,500 rig is being redesigned physically.  It will have a new price (going up?) to reflect this.




What the heck. I thought some tester units had been sent out to ppl like codinginmysleep.

Figured they were finally entering the build and ship phase but I guess not. Seems they have a new target month every month.
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May 16, 2013, 02:06:18 AM
 #1248

I went to BFL's office today and had a brief conversation with Dave.  More or less Dave was polite in answering my questions, but definitely did not want me in there.  The conversation raised several red flags and did not inspire confidence in this company being able to deliver as advertised.  As a result of this conversation, my company has elected to seek out other vendors to meet our needs.

Some highlights for those curious:

July seems to be their new target month.

Their 1,500 rig is being redesigned physically.  It will have a new price (going up?) to reflect this.




Thank you! I take it that you were not offered the full tour?

 
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May 16, 2013, 02:08:46 AM
 #1249

Of course you saw Dave. Josh was most likely busy daytrading testing cool new stuff.

This raised a(nother) red flag for me.

"I was working on a test pack of 8 boards...Roll Eyes

[OVER] RIDDLES 2nd edition --- this was claimed. Look out for 3rd edition!
I won't ever ask for a loan nor offer any escrow service. If I do, please consider my account as hacked.
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May 16, 2013, 02:39:46 AM
 #1250

Units have been delivered to devs and entities that can publish positive reviews of their company.  This suggests that they may not follow the order of purchase as they are trying desperately to stop the hemorrhaging.  Coupled with the fact that phone option #3 on their automated phone system is for refunds and they are experiencing a high number of technical problems, I view the health of this company as being suspect. 


No, I wasn't offered a tour. 


Part of me is rooting for them to pull through and deliver, but I have investors to protect and objectives to meet.


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May 16, 2013, 02:49:33 AM
 #1251

Units have been delivered to devs and entities that can publish positive reviews of their company.  This suggests that they may not follow the order of purchase as they are trying desperately to stop the hemorrhaging.  Coupled with the fact that phone option #3 on their automated phone system is for refunds and they are experiencing a high number of technical problems, I view the health of this company as being suspect.  


No, I wasn't offered a tour.  


Part of me is rooting for them to pull through and deliver, but I have investors to protect and objectives to meet.




I suspected as much, about the tour. I am also rooting for the investors but not for the company. If that makes sense. I do hope they're at least trying and stop fucking up. If they scammed through using pre-orders the damages have already been sustained and shipping at a more professional speed would be their saving grace.

I for one see this happening again and that same low self-esteemed individual with greed filled eyes waiting to take another chance in getting abused by BFL practices.

You know everyone wants their money making machines.
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May 16, 2013, 02:56:58 AM
 #1252

Units have been delivered to devs and entities that can publish positive reviews of their company.  This suggests that they may not follow the order of purchase as they are trying desperately to stop the hemorrhaging.  Coupled with the fact that phone option #3 on their automated phone system is for refunds and they are experiencing a high number of technical problems, I view the health of this company as being suspect. 


No, I wasn't offered a tour. 


Part of me is rooting for them to pull through and deliver, but I have investors to protect and objectives to meet.




I suspected as much, about the tour. I am also rooting for the investors but not for the company. If that makes sense. I do hope they're at least trying and stop fucking up. If they scammed through using pre-orders the damages have already been sustained and shipping at a more professional speed would be their saving grace.

I for one see this happening again and that same low self-esteemed individual with greed filled eyes waiting to take another chance in getting abused by BFL practices.

You know everyone wants their money making machines.

People looking to get rich quick will be severely disappointed.  Bit mining is quickly becoming more investment in nature.
Charles999
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May 16, 2013, 02:57:35 AM
 #1253

i hope not.. i have a miner on the way..
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May 16, 2013, 02:58:57 AM
 #1254

I was pretty excited about getting a BFL mining rig but it looks like I can't even take that gamble now since the queue is so big!
why do they bother?? this i imaginary
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May 16, 2013, 03:02:17 AM
 #1255

I treid calling them but no one answers.. could be a bad number
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May 16, 2013, 03:34:10 AM
 #1256

The automated phone system is notorious at disconnecting callers we have found.
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May 16, 2013, 04:01:02 AM
 #1257

Very hard to say if this company is a scam or what, it sounds like a classic scam, because there are already asics out there and they can't deliver.  But here it is a working prototype and this guy ain't Josh.
http://www.youtube.com/watch?v=_6mmTRheUzg
EBM
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May 16, 2013, 04:22:17 AM
 #1258

BFL recently demanded everyone who ordered before the prices went up 'confirm' or their orders would be cancelled. This was sent by email, and easily missed.

Re-ordering after cancellation puts you to the back of the queue - and you pay the new higher price. Shady as you like.

(Had a few email conversations with BFL, VERY illuminating. We won't be buying anything from them. Ever.)


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BTC: 1DZnyYaZ2VcQWNyYayNBqfTVQw2JQAmdA5
MooC Tals
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May 16, 2013, 04:35:15 AM
 #1259

https://www.kncminer.com/
Partnering up with
http://orsoc.se/

BFL better start smartening up soon cuz here comes more competition.....
rwessels
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May 16, 2013, 04:36:26 AM
 #1260

Very interesting.  Maybe competition will help them get orders out the door...
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