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Author Topic: Butterflylabs Huge SCAM  (Read 411718 times)
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August 03, 2013, 01:03:37 PM
 #2341

I think their system is undeniably flawed
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August 03, 2013, 03:22:23 PM
 #2342

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...
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August 03, 2013, 04:26:06 PM
 #2343

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

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August 03, 2013, 04:32:52 PM
 #2344

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.

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August 03, 2013, 04:45:04 PM
 #2345

Looky what the postman just dropped off

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August 03, 2013, 06:39:53 PM
 #2346

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

 The management of these forums feels differently. They are whores for the advertising revenue.
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August 03, 2013, 06:48:05 PM
 #2347

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

 The management of these forums feels differently. They are whores for the advertising revenue.

Actually, I don't think BFL won any add for quite a long time.
Too lazy to check, but I'm almost under the impression other bidders are making sure BFL won't ever make it anymore.

Edit :

And people wonder why this forum is a joke... heh

Still highly entertaining that Josh tries to push adds to a joke-forum.

[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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August 03, 2013, 06:57:37 PM
 #2348

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

 The management of these forums feels differently. They are whores for the advertising revenue.

So your saying "Its OK to be a con-man as long as you pay us our cut"? Doesn't that make the management of these forums accomplices to the con? Are you saying these forums are themselves a scam?

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August 03, 2013, 06:58:03 PM
 #2349

Looky what the postman just dropped off



If I take up a collection for you would you agree to buy a new desk and burn the desk in the photo? That thing looks like it may be responsible for worlds next pandemic.

intrinsic coins
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August 03, 2013, 07:00:01 PM
 #2350

That power brick looks like is from xbox. LOL
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August 03, 2013, 07:16:11 PM
 #2351

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.

So, network hashrate in June was 14 TH around when they started shipping. It's now around 30 TH.

Lets say that was from USB Block Eruptors? 16 TH of block eruptors would be nearly 50,000 of them. I haven't heard of that many being shipped

Avalon Batch 3 went out, i heard around July 19. That's supposedly 37 TH that's in the mail from China right now, so the increase in the network isn't from their units, otherwise we'd have seen a MUCH bigger jump. As for Asicminer, they got things really going in June and the p/s div to the TAT passthroughs (1/100 interest) was 0.00032 and 0.00034). Since then it's been 0.00017, 18, 24, 22 then back to 17. So AM's share of the network appears to be in decline as well.

I know you all love to bash BFL, because they took forever in getting product out the door. But be rational. Where's this power coming from? Look above, that sure looks like a single to me that Photo received. I got my jalapeno, and a whole lot of other ones keep appearing for sale. On July 2, when i got mine, Bitminters hashrate was around 5.2 TH. a couple weeks later when i sold it, they were already up to 9.6 or so. And now they're approaching 12.

I don't see the evidence for anyone else contributing that much power to the network from mid june to mid/late july.

Even friday, they claim many mini-rigs shipped. Given that two of those things alone is 1 TH, that'll probably be another 3-5 TH that appears on the network. Unfortunately, it'll be right around the time that Avalon units start appearing, so that 3-5 might get lost in the 35. But it's an arms race, and even though BFL didn't execute as you, I or even they would have liked, it's far fetched to deny that their products are not appearing in the wild, in greater and greater quantities...
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August 03, 2013, 07:22:04 PM
 #2352

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.

So, network hashrate in June was 14 TH around when they started shipping. It's now around 30 TH.

Lets say that was from USB Block Eruptors? 16 TH of block eruptors would be nearly 50,000 of them. I haven't heard of that many being shipped

Avalon Batch 3 went out, i heard around July 19. That's supposedly 37 TH that's in the mail from China right now, so the increase in the network isn't from their units, otherwise we'd have seen a MUCH bigger jump. As for Asicminer, they got things really going in June and the p/s div to the TAT passthroughs (1/100 interest) was 0.00032 and 0.00034). Since then it's been 0.00017, 18, 24, 22 then back to 17. So AM's share of the network appears to be in decline as well.

I know you all love to bash BFL, because they took forever in getting product out the door. But be rational. Where's this power coming from? Look above, that sure looks like a single to me that Photo received. I got my jalapeno, and a whole lot of other ones keep appearing for sale. On July 2, when i got mine, Bitminters hashrate was around 5.2 TH. a couple weeks later when i sold it, they were already up to 9.6 or so. And now they're approaching 12.

I don't see the evidence for anyone else contributing that much power to the network from mid june to mid/late july.

Even friday, they claim many mini-rigs shipped. Given that two of those things alone is 1 TH, that'll probably be another 3-5 TH that appears on the network. Unfortunately, it'll be right around the time that Avalon units start appearing, so that 3-5 might get lost in the 35. But it's an arms race, and even though BFL didn't execute as you, I or even they would have liked, it's far fetched to deny that their products are not appearing in the wild, in greater and greater quantities...

http://www.youtube.com/watch?v=UtVx26LlNXA

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August 03, 2013, 08:12:16 PM
 #2353

That was posted may 24 and probably filmed days Or weeks earlier.

I understand the hate, but look facts.  The Eastiest one being the increase in network hashrate from mid June to late July. Those weren't yifus machines, as batch 3 didn't ship til later in July. They were friedcats, as asicminers div declined in that period. The only people claiming to ship in volume are BFL,backed up by those who rcieved theirs posting thanks in BFLs forums, dropping out from complaining, listing them for sale on eBay (more and more are appearing and being listed as "in hand") or simply being plugged into the network, causing the increases in hashrate that were seeing.

Yes, they announced a lot earlier than they were ready to ship

Yes,they were overly optimistic about when they'd be ready ("two weeks")

Yes, many feel burned

But also, yes, more and more are leaving their warehouse/workshop every day. Not fast enough to placate everyone. But they are going out.
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August 03, 2013, 08:37:15 PM
 #2354

Yes, many feel burned
It is not just a feeling, it is a fact. And not many, but 90% of BFL customers will never get positive ROI. In fact they are neither customers nor investors. They are sponsors of a group of scammers.
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August 03, 2013, 09:14:10 PM
 #2355

Yes, many feel burned
It is not just a feeling, it is a fact. And not many, but 90% of BFL customers will never get positive ROI. In fact they are neither customers nor investors. They are sponsors of a group of scammers.

Yes, the difficulty isn't 1,000,000 anymore. But it wouldn't have been anyways, their shipments would have boosted the difficulty on their own. Even if no other ASIC producer came on line, people who ordered later in the process would have had a harder time reaching break-even. What they offered, sold and are delivering was that radical compared to GPU's that no calculation that people made back then could have applied (the calculation that one person would have come up with for their ROI from a Jalapeno would be significantly different than reality just based on 500 or 1000 other Jalapenos shipping out, let alone Singles, Mini Rigs, Avalons, and ASIC Miner coming on line)

On the flipside, they payoff for a single coin mined isn't worth $6 anymore, but instead $100. So, you'll mine fewer coins, but you'll get greater reward. Be thankful for that, as no one would mine at 37 million difficulty paired with a $6 per coin reward.
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August 03, 2013, 10:46:20 PM
 #2356

I very nearly bought a pre-order a while back. So glad I didn't go through with it.
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August 03, 2013, 11:24:32 PM
 #2357

I do pity the people who got ripped of by them Their offer was great and I wads tempted to buy from them, but then I searched around and found out about their situation.
This happens, productions gets delayed. But you do not keep on receiving new orders and promise to ship them in about 2 months. They are not trustworthy and you should not buy from them.
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August 04, 2013, 12:06:49 AM
 #2358

=> When it comes to BFL you CANNOT say that it's just a production delay.

I work in the electronics industry and there is ABSOLUTLY NO SINGLE WAY you can legitimately encounter a delay of more than 6 months WITHOUT being able to find a solution.

The only possible delay in the case of BFL is on the ASIC chips, but according to them it's not the delay, so.... it must be something else.

_they are not shipping_.
Shipping a few products a week is NOT really shipping, when you have tens of thousands of orders waiting to be sent.
It's like a company sending out a few samples and saying "we're in full production".

I don't have any legitimity to tell people whether to order or not - do your own research and assume the risks you take.
But I can give you one advice : USE PAYPAL. It will protect you during 45 days.

At least if BFL goes bust within the next 45 days, which is possible, you will have a chance to see your money back.
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August 04, 2013, 12:36:06 AM
 #2359

I had a BFL miner for a while. Worked for me.
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August 04, 2013, 12:39:38 AM
 #2360

They wrote on bfl forum they has a supplier problems...for 10 months? lol. I dont believe to them.
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