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Author Topic: Butterflylabs Huge SCAM  (Read 387594 times)
waver
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August 01, 2013, 01:44:32 PM
 #2321

My thoughts on the whole BFL thing are:

They got all the money from the pre-orders, used it to buy a massive load of ASIC chips, got all the chips and other necessary equipment and started hashing with them as soon as they arrived, made 4 or 5 times the amount the chips and other equipment cost, then started slowly building the miners and even slower-ly started shipping SOME of the out so folks would not totally freak out. In the end I think you will all get your miners, LONG after they have become unprofitable to run but AFTER BFL has made a serious killing on them.

Maybe this could turn into a massive class action suit against them if someone could prove they were using the hardware before shipping it. Maybe each person in the class could reap the amount of BTC they COULD have mined if BFL would have shipped on time + some for psychological suffering. That ought to get them off their yachts in the Caribbean..

I'm sure someone has already said this but anyway here I am saying it again.
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torrentheaven
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August 01, 2013, 01:48:13 PM
 #2322

Maybe this could turn into a massive class action suit against them if someone could prove they were using the hardware before shipping it.

it is called hardware testing.

remember, they have to be sure the unit works properly before shipping Grin
Fiyasko
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August 01, 2013, 02:11:56 PM
 #2323

Could someone please just hire a real lawyer already to look through all thier bullshit for something to tear apart this conart?

http://bitcoin-otc.com/viewratingdetail.php?nick=DingoRabiit&sign=ANY&type=RECV <-My Ratings
https://bitcointalk.org/index.php?topic=857670.0 GAWminers and associated things are not to be trusted, Especially the "mineral" exchange
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August 01, 2013, 06:11:17 PM
 #2324

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.
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August 01, 2013, 06:24:33 PM
 #2325

I am guessing BFL hasn't deliver the "dream" product(s) and other ASICs companies have??
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August 01, 2013, 07:06:53 PM
 #2326

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

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SgtSpike
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August 01, 2013, 07:25:57 PM
 #2327

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.
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August 01, 2013, 07:58:11 PM
 #2328

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.

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Fiyasko
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August 01, 2013, 08:25:08 PM
 #2329

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

http://bitcoin-otc.com/viewratingdetail.php?nick=DingoRabiit&sign=ANY&type=RECV <-My Ratings
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cryptoanarchist
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August 01, 2013, 09:20:05 PM
 #2330

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


I'm grumpy!!
Rulother
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August 01, 2013, 09:23:34 PM
 #2331

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.

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ibminer
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August 01, 2013, 09:40:37 PM
 #2332

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.

 Tongue

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August 01, 2013, 09:41:35 PM
 #2333

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
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August 01, 2013, 11:16:53 PM
 #2334

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

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samuel999
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August 01, 2013, 11:29:26 PM
 #2335

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
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August 02, 2013, 04:07:15 AM
 #2336

Huge scam.
darkmule
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August 03, 2013, 12:09:45 PM
 #2337

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.
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August 03, 2013, 12:26:39 PM
 #2338

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
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August 03, 2013, 12:39:05 PM
 #2339

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!  Angry 
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August 03, 2013, 12:47:34 PM
 #2340

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!  Angry 

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
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