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Author Topic: Butterflylabs Huge SCAM  (Read 383143 times)
msk
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June 17, 2013, 06:44:05 PM
 #1981

Butterflylabs is and has been a scam. No one listened to me 3 months ago...



....says the guy that doesn't have a jalapeno because he didn't order...
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June 17, 2013, 06:58:21 PM
 #1982

Can anyone confirm they have received an ASIC from BFL?  Pictures mining would be nice.
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June 17, 2013, 07:05:44 PM
 #1983

Butterflylabs is and has been a scam. No one listened to me 3 months ago...

That's because then, just as now, you have no idea what you're talking about.  Why do you think people would listen to someone who is a nutcase?

If you're searching these lines for a point, you've probably missed it.  There was never anything there in the first place.
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June 17, 2013, 07:07:53 PM
 #1984

Sorry Floridabear, your math is off.  At $0.15 kw/h power cost, a Single is still profitable to a worthwhile degree even at 900 million difficulty.  It's going to be a bit of time before we see 900 million difficulty, from 19 million now.


It´s understandable you don't want your devices called unprofitable. But - no offense - your post didn´t contain any math at all.

You´re using US-Dollar (power cost) as the base of your argument. You could do that. But what exchange rate Bitcoin - Dollar did you assume to come to your conclusion? Todays 100? Last weeks 120? Last months 150? Or the 13 half a year ago? Your reasoning makes no sense without that.

Or your basing your argument on Bitcoin. Thats of course only valid for those who bought your device with Bitcoins that haven´t been exchanged for FIAT. And even then, at least power costs have to be paid in Dollars - so you have to calculate break-even based on BFL price and power in FIAT. You see? Same same.

That said - and with all the love in der world Wink - maybe you should not argue break even or profitability of BFL devices seeing the difficulty going up immensely since months without a chance for your customers to participate in time.
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June 17, 2013, 07:09:21 PM
 #1985

Butterflylabs is and has been a scam. No one listened to me 3 months ago...
According to your profile, you werent even a member 3 months ago.
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June 17, 2013, 07:10:32 PM
 #1986

Can anyone confirm they have received an ASIC from BFL?  Pictures mining would be nice.

I have one, his name is Asic. We got him from Better Florida Living. He works the family mine at night and during the day he makes the most delicious Chili Rellenos. Yum!


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June 17, 2013, 07:15:19 PM
 #1987

Can anyone confirm they have received an ASIC from BFL?  Pictures mining would be nice.

I have one, his name is Asic. We got him from Better Florida Living. He works the family mine at night and during the day he makes the most delicious Chili Rellenos. Yum!

http://www.cipamericas.org/wp-content/uploads/2012/08/miners1.jpg

LOL... not sure if it is politically correct to laugh, but I did smile.  Thx.
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June 17, 2013, 07:15:47 PM
 #1988

True enough.  At $100 per coin, at $0.15/kw hour, a Single SC will bring in $67.07 per month after power costs at difficulty 900 million.  

At a 10x increase in hashing power, or ~280 TH, it would bring in $565 per month roughly, after power costs.  At $10 per coin, it's still bringing in $56 a month.

BFL doesn't price their products in BTC, they are sold for USD, so any factoring and figuring you do is in USD and then feel free to convert from there.

If you're searching these lines for a point, you've probably missed it.  There was never anything there in the first place.
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June 17, 2013, 07:18:05 PM
 #1989

Can anyone confirm they have received an ASIC from BFL?  Pictures mining would be nice.

I posted a pic of mine a few pages back, go take a look
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June 17, 2013, 07:48:46 PM
 #1990

Butterflylabs is and has been a scam. No one listened to me 3 months ago...



....says the guy that doesn't have a jalapeno because he didn't order...

Brilliant and if he had an order you would say just shut up and get a refund and he would also be a hypocrite.

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June 17, 2013, 08:53:13 PM
 #1991

we still ordering them  Grin
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June 17, 2013, 09:23:26 PM
 #1992

Sorry Floridabear, your math is off.  At $0.15 kw/h power cost, a Single is still profitable to a worthwhile degree even at 900 million difficulty.  It's going to be a bit of time before we see 900 million difficulty, from 19 million now.

You really have to define "a bit of time." I defined it clearly in my post, and my math is not off based on the assumptions I posted. Please don't accuse me of being wrong when I provide all of the assumptions I used for the calculations, unless you've done the math with those assumptions yourself (and you can prove I did them wrong).

My math is correct according to the assumptions I gave and I stand by it. A 50 GH single will only ever produce about 28 BTC ($2800) if delivered in September and my assumptions prove correct.

If you want to argue about 18% increases every retarget being too pessimistic from Sept '13 to March '14 (when all currently available BFL devices become unprofitable at $0.11/KWh) , that's fine, but don't just say "your math is off." However, I don't think 18% is at all unreasonable. When GPUs were rolling out, we saw difficulty go from 19 to 9000 in about 5 months. And that's an order of magnitude greater than the change we're talking about (19M to 900M). If ASICs come on line at that rate, we'll be at 9 billion by February (except that none are profitable there, so it won't happen). But I don't think 900M is unreasonable by Jan 1. Granted we will see some leveling off after that as less efficient ASICs become unprofitable. But if 28 nm products are real and rolling out, they will quickly obsolete everything less efficient. This is a pretty inevitable path we're going down.

My entire point is that delays are extremely costly going forward. Progress is relentless.
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June 18, 2013, 03:45:15 AM
 #1993

has anyone here seen that?

https://bitcointalk.org/index.php?topic=236794.msg2392741
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June 18, 2013, 03:49:39 AM
 #1994

Ive known they are a scam for the longest time
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June 18, 2013, 03:56:43 AM
 #1995

1J92YCSidYhkYvNmV5NYmv33UZpACsggiG
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June 18, 2013, 05:24:01 AM
 #1996

 talked to a BFL customer support rep today and he said all recent orders will likely not ship until September. Seems like a losing game. Sad
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June 27, 2013, 03:15:04 AM
 #1997

scary...now shipping. does anyone know how to see an udated list?

"Life is a waterfall, we drink from the river then turn around and put up our walls"
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June 27, 2013, 05:52:31 AM
 #1998

scary...now shipping. does anyone know how to see an udated list?

Tracking BFL shipped days here:  http://bfl.miningrigstuff.com/

BTC.sx - Leveraged Bitcoin Trading. Simply use Bitcoin to take advantage of a rising or falling Bitcoin price.
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June 27, 2013, 06:34:21 AM
 #1999

That's a nice link for tracking!
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June 27, 2013, 06:38:05 AM
 #2000

Over a year and BFL hasn't cleared their back log of orders. I don't think the will for many months to come. This is why you don't take preorders for a product you don't have.

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