Butterflylabs Huge SCAM

[noob_jul11]

I am guessing BFL hasn't deliver the "dream" product(s) and other ASICs companies have??

[Rulother]

If such a lawsuit was ever put up against BFL, I will gladly take part.

[SgtSpike]

I am guessing BFL hasn't deliver the "dream" product(s) and other ASICs companies have??

They've delivered some of each of their products, they just haven't delivered the majority of pre-orders.

[Rulother]

Had a couple of things on order from early April, and had faith in the company at the time. I think I was just mainly being greedy. As time went on, more and more development came out so I thought hey what the heck I'll stick to it. Then they came out with the orders posted before mid-May can be refunded, so I though ok good so if I change my mind, I'm still all good. The major jump in the network diff has made my purchase rather worthless. I'm finding that I am somewhat SOL now, 45days past paypal's initial transaction and now they're saying nope nope. I'm still trying to work it out with them, but doesn't seem like I'm going to get anywhere. Sad day.

[Fiyasko]

I am guessing BFL hasn't deliver the "dream" product(s) and other ASICs companies have??

Did you/would you pay for a product thats shipping in "Two to three weeks" but you actually have to wait ten months and you're still waiting?
Seriously, they conned people into being investors with no return with the use of false advertising

[cryptoanarchist]

Interesting choice for a name, considering the masons pretty much incorporate butterflies in everything they touch.

[Rulother]

Interesting choice for a name, considering the masons pretty much incorporate butterflies in everything they touch.

Might be somewhat of a stretch, but was entertaining.

[ibminer]

Interesting choice for a name, considering the masons pretty much incorporate butterflies in everything they touch.

you know... if you remove the 'er' from butterflylabs you end up with 'butt fly labs'   
Hasn't happened to me personally, but I assume the worst flies that exist are the ones that try to get up your butt.

The 'er' is obviously the sound people make when they are sitting there waiting for their units for over a year.

 

[jgrosch]

I'm not sure if this is a scam or not. It could be that they are just in over their head but if this is a scam it is the most incompetent scam I have ever heard of.

[Flying Hellfish]

I'm not sure if this is a scam or not. It could be that they are just in over their head but if this is a scam it is the most incompetent scam I have ever heard of.

The CEO's last scam was much better...

Re: Butterfly Labs CEO 25 Million USD Mail Fraud — A Concise Summary of Evidence
https://bitcointalk.org/index.php?topic=110805.0

[samuel999]

I'm not sure if this is a scam or not. It could be that they are just in over their head but if this is a scam it is the most incompetent scam I have ever heard of.

The CEO's last scam was much better...

Re: Butterfly Labs CEO 25 Million USD Mail Fraud — A Concise Summary of Evidence
https://bitcointalk.org/index.php?topic=110805.0

Yup seen that.  I guess some people don't know when to give up.

[sunshinecoin]

Huge scam.

[darkmule]

Address: 10770 El Monte, Leawood, KS 66211 United States of America

Voicemail: 1-800-809-MINE (6463)
Fax: 1-800-809-MINE (6463)
Skype: butterflylabs

If you google map them with the above address you can see their office(or what they claim is their office) I was able to get a good 'street view' from the interstate that goes right by them.

They have what looks like solar panels for window shades..

The phone,fax,and skype numbers are of little help.

Anyone actually found corporate records on this shit?  As far as I can tell, it doesn't even exist.  I haven't gone to much effort, though.

I don't know, a simple search on the Kansas Secretary of State website shows they are registered under the name "BF Labs Inc."  It also shows their current mailing address as being in Wyoming, which still matches with their original registration there.  5830 EAST 2ND STREET, CASPER, WY 82609.  Their "Business Entity ID Number" is 4651691.  I'm not sure if this link works, but you can look up their filing on the Wyoming Secretary of State website as well.  Same name, BF Labs.  https://wyobiz.wy.gov/Business/FilingDetails.aspx?eFNum=149144214231010201167112190255028042109060235081.  They've held this one since 2011.  On the Wyoming filing, it shows "President / Director   CHRIS      VLEISIDES         2507 JEFFERSON KANSAS CITY, MO 64108"

Anyway, it most certainly does exist.  You should go to more effort next time before spouting off about it.

Or I could just ask a fucking question before trying to look up something that is registered under another name, on the off chance someone who isn't a complete dick answers, rather than reinventing the wheel.  Thanks.

[jdany]

I am so, so, so, so glad I cancelled my order.

I ordered in April of 13.
Difficulty was 7M.
I think I figured it out to be 10 days to return original investment.

3 Months later
Difficulty is 37M.
It still wouldn't have shipped.
ROI is now over 30 days.

[waver]

The ONLY way ANY of you who ordered ANYTHING from these con-men is getting a 'ROI' is through a class action lawsuit.. Unfortunately they probably worded their contract in such a way that as long as they 'eventually' shipped you something(in 2 or 3 years) they would not be responsible..

BUT! I think the contract should be gone through with a fine tooth comb by a good lawyer and a lawsuit should be initiated at ONCE!

Scam artists have no place in our community and must be punished immediately!   

[Photon939]

The ONLY way ANY of you who ordered ANYTHING from these con-men is getting a 'ROI' is through a class action lawsuit.. Unfortunately they probably worded their contract in such a way that as long as they 'eventually' shipped you something(in 2 or 3 years) they would not be responsible..

BUT! I think the contract should be gone through with a fine tooth comb by a good lawyer and a lawsuit should be initiated at ONCE!

Scam artists have no place in our community and must be punished immediately!   

Anyone that thinks they would get money out of BFL in a lawsuit is delusional. BFL would implode and all you would get is maybe some of josh's pocket lint

[bitcoinpokerreview]

I think their system is undeniably flawed

[lucasjkr]

I am so, so, so, so glad I cancelled my order.

I ordered in April of 13.
Difficulty was 7M.
I think I figured it out to be 10 days to return original investment.

3 Months later
Difficulty is 37M.
It still wouldn't have shipped.
ROI is now over 30 days.

AND the main reason for that difficulty rise? All the units they've been shipping. I think the real issue is that everyone underestimates exactly how many miners were actually ordered. I don't see any other likely source of all that hashing power.



BFL started shipping in June, and since then the difficulty rate and estimated hashing power of the network has grown like it never has before...

[QuestionAuthority]

I am so, so, so, so glad I cancelled my order.

I ordered in April of 13.
Difficulty was 7M.
I think I figured it out to be 10 days to return original investment.

3 Months later
Difficulty is 37M.
It still wouldn't have shipped.
ROI is now over 30 days.

AND the main reason for that difficulty rise? All the units they've been shipping. I think the real issue is that everyone underestimates exactly how many miners were actually ordered. I don't see any other likely source of all that hashing power.

BFL started shipping in June, and since then the difficulty rate and estimated hashing power of the network has grown like it never has before...

So you don't believe any of the other manufacturers have done anything to the difficulty? Just BFL huh?  http://thegenesisblock.com/asicminer-lowers-usb-miner-price-to-0-89-bitcoins/
http://www.youtube.com/watch?v=MwzHfr-qaFo

[creativex]

I am so, so, so, so glad I cancelled my order.

I ordered in April of 13.
Difficulty was 7M.
I think I figured it out to be 10 days to return original investment.

3 Months later
Difficulty is 37M.
It still wouldn't have shipped.
ROI is now over 30 days.

AND the main reason for that difficulty rise? All the units they've been shipping. I think the real issue is that everyone underestimates exactly how many miners were actually ordered. I don't see any other likely source of all that hashing power.



BFL started shipping in June, and since then the difficulty rate and estimated hashing power of the network has grown like it never has before...

Surely you jest sir. Between directly mining and shipped blades ASICMiner is surely responsible for the largest portion of that increase. Avalon hasn't been exactly twiddling their thumbs either as their batch 3 is currently in mass shipping.