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Author Topic: Butterflylabs Huge SCAM  (Read 378766 times)
jmbinfo
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May 23, 2013, 02:41:11 PM
 #1501

"Private venture capital" is not a proper VC firm, it's a private individual or group using their own money. No due diligence required.

Proper VC firms always declare their investments and terms. So do proper companies taking genuine VC investment...

BFL's website still claims they started shipping in Feb: http://www.butterflylabs.com/bitforce-sc-faq/

Avoid this company like the plague, get your refunds before it vanishes.


MODS: can you check the IP addresses for all these newbies who seem to join the forum purely to sing the praises of BFL...? 

That was why I placed my order back then when I ordered a Jalap; BFL stated they would be shipping by January so I thought, well they must be shipping now. I was so wrong, I had to cancel my paypal order because there were more delays and red flags were being raised and the 45 day period was looming. So I took my investment elsewhere.

I'm STILL waiting since Feb. Sad
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May 23, 2013, 02:57:01 PM
 #1502

"Private venture capital" is not a proper VC firm, it's a private individual or group using their own money. No due diligence required.

Proper VC firms always declare their investments and terms. So do proper companies taking genuine VC investment...

BFL's website still claims they started shipping in Feb: http://www.butterflylabs.com/bitforce-sc-faq/

Avoid this company like the plague, get your refunds before it vanishes.


MODS: can you check the IP addresses for all these newbies who seem to join the forum purely to sing the praises of BFL...? 

That was why I placed my order back then when I ordered a Jalap; BFL stated they would be shipping by January so I thought, well they must be shipping now. I was so wrong, I had to cancel my paypal order because there were more delays and red flags were being raised and the 45 day period was looming. So I took my investment elsewhere.

I'm STILL waiting since Feb. Sad

Most of us are STILL waiting since mid-2012.

So you will wait A LOT more.

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May 23, 2013, 03:33:08 PM
 #1503

got refund 3days ago. thank god

Success doesn't come to you…you go to it

0150r
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May 23, 2013, 09:27:04 PM
 #1504

got refund 3days ago. thank god

How do you get a refund?
Schrankwand
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May 23, 2013, 09:30:50 PM
 #1505

got refund 3days ago. thank god

How do you get a refund?

You send them a polite email.

"Dear BFL team,

Unfortunately, with the Bitcoin market going crazy concerning regulations and crackdowns on exchanges, I feel uneasy with my investment. In the light of circumstances I would like to request a refund of my order number XYZ1111.

For your future business, I wish you all the best and success. If there are any necessary steps for you for my refund, please let me know so I can accomodate the transfer.

Best regards,
the customer."


Some will say this is unbelievably polite. I say you want money back from them, so dont be an asshole.
bobbix
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May 23, 2013, 09:35:16 PM
 #1506

dude, sad times Sad
ranlo
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May 23, 2013, 09:51:30 PM
 #1507

got refund 3days ago. thank god

How do you get a refund?

You send them a polite email.

"Dear BFL team,

Unfortunately, with the Bitcoin market going crazy concerning regulations and crackdowns on exchanges, I feel uneasy with my investment. In the light of circumstances I would like to request a refund of my order number XYZ1111.

For your future business, I wish you all the best and success. If there are any necessary steps for you for my refund, please let me know so I can accomodate the transfer.

Best regards,
the customer."


Some will say this is unbelievably polite. I say you want money back from them, so dont be an asshole.

Perfectly executed as well. Those who are offensive in their messages will put the reader in a defensive state. This causes them to have much less of a chance to work with you. I know how a lot of people here feel, but rudeness decreases your chances of success.

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May 23, 2013, 09:54:41 PM
 #1508

Some will say this is unbelievably polite. I say you want money back from them, so dont be an asshole.

Save being an asshole for after you get your money back, because BFL have shown they are extortionists who will retaliate against anyone who dares to describe their experiences with this crooked outfit.
Li Xia
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May 23, 2013, 10:13:05 PM
 #1509

They probably refund some portions to maintain the image of good company. Besides those who paid with services like earlier mentioned PayPal, got some buyer protection as well to force them to get theirs money back.

I wonder how many people paid with BTC... ?
ranlo
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May 23, 2013, 10:24:28 PM
 #1510

They probably refund some portions to maintain the image of good company. Besides those who paid with services like earlier mentioned PayPal, got some buyer protection as well to force them to get theirs money back.

I wonder how many people paid with BTC... ?

Good point. Something to consider is that by offering refunds back, they know only a small selection of people would request one. Hearing about the refunds makes everyone more at ease, meaning new people are making purchases. It is a smart thing to do if you want to scam even more people.

This isn't to say that they are scamming. I haven't gotten involved with them so I don't have personal experience with them. Just saying that refunds aren't necessarily a sign that they are legitimate.

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May 23, 2013, 10:32:37 PM
 #1511

Well hopefully my two SC will be arriving in a few months time Smiley
GO BFL.

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May 23, 2013, 11:03:31 PM
 #1512

I doubt they are a total scam. They aren't doing great by any means, but I honestly believe they will eventually fill all of their orders. I don't think they anticipated the response they got.
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May 23, 2013, 11:09:24 PM
 #1513

I doubt they are a total scam. They aren't doing great by any means, but I honestly believe they will eventually fill all of their orders. I don't think they anticipated the response they got.

If the problem was the number of orders, they could have at any point stopped taking them. That's what any reputable business does. If you go to a store and they don't have what you want so you get a raincheck, they don't say "pay me now and we'll give it to you when we get it." They let you keep your money and pay AFTER they get it.

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May 23, 2013, 11:20:26 PM
 #1514

I was (luckily?) too poor to order mining rig at the time, and heck, my friends was gathering resources to actually set their own medium sized farm but gave it a pass since they did some research on ASICs but it's somewhat short-sighted to neglect mining coins because of high difficulty ratio and new technology coming in.
First of all, with good rig you can always mine silver and bronze for few days and just store your earnings on a stock/vault or just in pocket, if ship hit the fan, you can either panic and sell coins or take a risk and keep them. And I'm still talking about silver and bronze!
Secondly, even if a newer technology marches in it will take the spotlight and mining per se will open spots for mining to the new users. And again, if BTC difficulty is too high, why not try other ones? Of course, you can get in another scheme or strange coins like YAC but still, for the few days after some signs of upcoming events few not informed buyers will eventually buy those, especially if you will sell them for few cents lower than others. I mean come on! Why do I know market tricks and still don't own at least 100BTC? hahaha

I doubt they are a total scam. They aren't doing great by any means, but I honestly believe they will eventually fill all of their orders. I don't think they anticipated the response they got.

If the problem was the number of orders, they could have at any point stopped taking them. That's what any reputable business does. If you go to a store and they don't have what you want so you get a raincheck, they don't say "pay me now and we'll give it to you when we get it." They let you keep your money and pay AFTER they get it.
Pandora a gaming hand-held/unix emulator console was like that- they stopped taking orders when they did reach they factory quota and that was great marketing move. I still think Pandora was managed by honest and responsible guys, not only crazy and greedy geeks wanting to sell overpriced emulator.
ranlo
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May 23, 2013, 11:26:22 PM
 #1515

I was (luckily?) too poor to order mining rig at the time, and heck, my friends was gathering resources to actually set their own medium sized farm but gave it a pass since they did some research on ASICs but it's somewhat short-sighted to neglect mining coins because of high difficulty ratio and new technology coming in.
First of all, with good rig you can always mine silver and bronze for few days and just store your earnings on a stock/vault or just in pocket, if ship hit the fan, you can either panic and sell coins or take a risk and keep them. And I'm still talking about silver and bronze!
Secondly, even if a newer technology marches in it will take the spotlight and mining per se will open spots for mining to the new users. And again, if BTC difficulty is too high, why not try other ones? Of course, you can get in another scheme or strange coins like YAC but still, for the few days after some signs of upcoming events few not informed buyers will eventually buy those, especially if you will sell them for few cents lower than others. I mean come on! Why do I know market tricks and still don't own at least 100BTC? hahaha

I doubt they are a total scam. They aren't doing great by any means, but I honestly believe they will eventually fill all of their orders. I don't think they anticipated the response they got.

If the problem was the number of orders, they could have at any point stopped taking them. That's what any reputable business does. If you go to a store and they don't have what you want so you get a raincheck, they don't say "pay me now and we'll give it to you when we get it." They let you keep your money and pay AFTER they get it.
Pandora a gaming hand-held/unix emulator console was like that- they stopped taking orders when they did reach they factory quota and that was great marketing move. I still think Pandora was managed by honest and responsible guys, not only crazy and greedy geeks wanting to sell overpriced emulator.

Just to add on because I'm thinking about other cases where this happens... Amazon. If you pre-order or purchase something and they find that it isn't in stock, they will not charge you until the order has actually shipped (and at any point prior to actually being in the mail, you can cancel it).

What BFL did wasn't sell something. It wasn't allowing pre-orders either. What they did is secretly run a crowd sourcing campaign without telling everyone. Crowd sourcing fits this profile perfect (company needs money to develop items, so people donate in exchange for the finished items). It's shady, considering they never notified people that it was what they were getting into (at least not that I know of, based on responses from people).

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May 23, 2013, 11:53:32 PM
 #1516

Sounds like a conspiracy theory to me...
I'm never going to buy one but it's still hard to decide what to believe.



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May 24, 2013, 12:14:19 AM
 #1517

I'm new to mining, I read some articles about the 5gh/s miner and saw a few youtube videos about it.  Everything looked to be legit so I ordered one a couple of weeks ago. ...   .... ... then, .... .. then, I read all the other reviews and comments about the "company" and their hardware ...
Their site didn't absolutely state that it was a pre-order (I didn't see that until I received the order confirmation email).  I think I'm going to keep optimistic for about a month... then, who knows.

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May 24, 2013, 12:21:38 AM
 #1518

this kinda seems like an open and shut case to me
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May 24, 2013, 12:34:39 AM
 #1519

Just because folks are getting their BFL ASICs, doesn't mean it's not a scam.

That said, I doubt it's a scam.
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May 24, 2013, 12:51:50 AM
 #1520

just studying

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