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Author Topic: Butterflylabs Huge SCAM  (Read 415293 times)
Xian01
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October 23, 2014, 08:20:04 PM
 #3141

http://ia802308.us.archive.org/32/items/gov.uscourts.mowd.117531/gov.uscourts.mowd.117531.103.0.pdf

EHL OH EHL
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MooC Tals
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October 24, 2014, 03:07:10 AM
 #3142


In one of their examples that they did not mislead the customer citing an example on page 9 of that PDF file they use an example of investors  Here is a portion from that.

Code:
Investors who purchased nVIEW stock in purported reliance on these statements sued
nVIEW for securities fraud, alleging that the shipment and production dates were materially
misleading. Id . at 833-35. 4 The Borow court dismissed the claim outright, holding that the
representations amounted to “puffery” and thus lacked materiality as a matter of law. Id . at 835

If costumers were investors then why are they running as a product sales company instead of a stock investment company. I mean investors are set up differently with a company.

People who by  apple phones don't pay for their phones 1 year ahead while being promised to have it within 2 month. Apple phone customers are exactly that consumers not investors. However some do indulge in purchasing stock in the company as investors and enjoy the success of a company that is a success.

However investing in BFL would be a bad choice if the investor looked at their past track record.

I believe the previous post is right in cryptically stating " LOL ", I will say that BFL is on its death throws if that is their best they can do as a MOTION TO DISMISS



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October 24, 2014, 04:27:05 AM
 #3143

For the sake of argument, if they got completely away with it and were allowed to resume business after the case was dismissed who would buy from them now? There is absolutely no chance that they could remain in business. Even if they get away without a fine it's very likely that they will be supervised as they refund customer money to every customer that requests a refund (which at this point is everyone except idiots that want a miner that can't ROI).

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October 24, 2014, 04:06:13 PM
 #3144

For the sake of argument, if they got completely away with it and were allowed to resume business after the case was dismissed who would buy from them now? There is absolutely no chance that they could remain in business. Even if they get away without a fine it's very likely that they will be supervised as they refund customer money to every customer that requests a refund (which at this point is everyone except idiots that want a miner that can't ROI).

Except that we've telling the community that BFL is a scam for years and people STILL seem to buy them.  You are assuming too much about people, BLF could last years and years and years as new bitcoin miners come on board.
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October 24, 2014, 05:25:26 PM
 #3145

For the sake of argument, if they got completely away with it and were allowed to resume business after the case was dismissed who would buy from them now? There is absolutely no chance that they could remain in business. Even if they get away without a fine it's very likely that they will be supervised as they refund customer money to every customer that requests a refund (which at this point is everyone except idiots that want a miner that can't ROI).

Except that we've telling the community that BFL is a scam for years and people STILL seem to buy them.  You are assuming too much about people, BLF could last years and years and years as new bitcoin miners come on board.
There are some people that just don't like forums and probably do not even use bitcointalk. They are just looking for bitcoin miners and butterflylabs pops up and has all of these cool looking products, awesome prices (if they actually delivered on time) and endless promises. Not the smartest consumers in the world, but they still don't deserve to get their money taken from them and held hostage.

Book em', Danno!  Grin


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October 24, 2014, 09:32:17 PM
 #3146

I believe the previous post is right in cryptically stating " LOL ", I will say that BFL is on its death throws if that is their best they can do as a MOTION TO DISMISS
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October 25, 2014, 01:55:39 AM
 #3147

I believe the previous post is right in cryptically stating " LOL ", I will say that BFL is on its death throws if that is their best they can do as a MOTION TO DISMISS


I was sitting here thinking that it would be nice to see Josh go to jail. However lets keep this in perspective. Josh has not hurt anyone physically he only defrauded the bitcoin community that spent only their extra income. Besides he obviously was just doing what the boss told him. Josh should rat out his boss and be the hero.

 It's not like he was stealing from a convent or a church. If he goes to jail then we will have to throw the bankers and politicians in Jail. They're just too big to jail.
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October 25, 2014, 02:16:58 AM
 #3148

Besides he obviously was just doing what the boss told him.
WW II war criminals said the same thing.
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October 25, 2014, 03:10:45 AM
 #3149

Prison rape or bust

The revolution begins with the mind and ends with the heart. Knowledge for all, accessible to all and shared by all
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October 25, 2014, 05:35:51 AM
 #3150

are these fuckers paying back people yet?
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October 25, 2014, 05:38:29 AM
 #3151

I believe the previous post is right in cryptically stating " LOL ", I will say that BFL is on its death throws if that is their best they can do as a MOTION TO DISMISS
https://i.imgur.com/72CZCgZ.jpg

I was sitting here thinking that it would be nice to see Josh go to jail. However lets keep this in perspective. Josh has not hurt anyone physically he only defrauded the bitcoin community that spent only their extra income. Besides he obviously was just doing what the boss told him. Josh should rat out his boss and be the hero.

 It's not like he was stealing from a convent or a church. If he goes to jail then we will have to throw the bankers and politicians in Jail. They're just too big to jail.


I wish we had a service where we hire peoples head for bitcoin, like a hitman.

and crowsd source for a legit one.
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October 25, 2014, 06:18:18 AM
Last edit: October 25, 2014, 07:58:44 AM by Xian01
 #3152

http://ia802308.us.archive.org/32/items/gov.uscourts.mowd.117531/gov.uscourts.mowd.117531.109.0.pdf

PLAINTIFF’S REPLY SUGGESTIONS OF POINTS AND AUTHORITIES IN SUPPORT OF
MOTION FOR PRELIMINARY INJUNCTION AND OTHER EQUITABLE RELIEF


TL;DR: "Where it matters, Defendants still have not solved any of their problems."

EDIT: Notable excerpts

"Once Defendants manufactured Bitcoin mining machines using what were essentially interest-free loans from consumers, their first actions were not to benefit their long-suffering customers, but to pad their own bottom line."

"Given Defendants’ repeated law violations and questionable practices, Defendants cannot expect the Court simply to take their word for it that they have abandoned their illegal conduct for good."

"They should not get a fourth chance (or a fifth chance, in the case of one of the defendants) that would be funded with money that rightfully belongs to consumers"

"Mr. Zerlan admitted that Defendants mined Bitcoins with customer equipment"

"The continuance of illegal conduct obviates the need for the Commission to demonstrate a likelihood of future violations."

"Defendants’ corporate culture undermines the credibility of their claims that they will operate lawfully in the future."

"the illegal conduct here did not occur in isolation or as a result of mere oversight, but as a result of a business model designed to extract and retain money from consumers for as long as possible"

"Rather than exhibiting contrition, Defendants continued taking pre-orders despite their inability to fulfill existing orders and spent corporate funds on foam pitchforks emblazoned with the phrase, “Y U No Ship, BFL Is Late!” to mock their own customers."

"Defendant Vleisides, under the guise of corporate housing, lives in a home renovated, owned, and paid for by Butterfly Labs, and therefore consumers"

"Defendants are not providing refunds as represented, and, neither providing refunds nor mollifying customers with giveaways cures deception"

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October 25, 2014, 06:28:40 AM
 #3153

i doubt anything will happen, but pay a fine.
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October 25, 2014, 06:50:11 AM
 #3154

Oh no, guess the multi million dollar company will have to *gulp* pay a massive fine of, $250,000 dollars Sad

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October 25, 2014, 01:10:48 PM
 #3155

I was sitting here thinking that it would be nice to see Josh go to jail. However lets keep this in perspective. Josh has not hurt anyone physically he only defrauded the bitcoin community that spent only their extra income. Besides he obviously was just doing what the boss told him. Josh should rat out his boss and be the hero.

 It's not like he was stealing from a convent or a church. If he goes to jail then we will have to throw the bankers and politicians in Jail. They're just too big to jail.


http://en.wikipedia.org/wiki/Incarceration_in_the_United_States


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October 25, 2014, 04:08:45 PM
 #3156

seriously how are these guys not in jail, this just proves you can get away with anything..
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October 25, 2014, 06:15:55 PM
 #3157


We've seen the worst effect of bankerster's greed brought to the world -- trust in financial institutions was lost. 

We are seeing the worst effect Pirate brought upon BTC community ... trust in bitcoin businesses is being destroyed.

Being destroyed? You mean already completely destroyed. My friends laugh at me now when I bring up Bitcoin.

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October 25, 2014, 07:55:30 PM
 #3158

Meta: Have "American Greed" playing on the TV in the background while working, and had an amusing thought of "I can't wait to see an episode done about Butterfly Labs..."
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October 26, 2014, 03:57:28 AM
 #3159


We've seen the worst effect of bankerster's greed brought to the world -- trust in financial institutions was lost. 

We are seeing the worst effect Pirate brought upon BTC community ... trust in bitcoin businesses is being destroyed.

Being destroyed? You mean already completely destroyed. My friends laugh at me now when I bring up Bitcoin.

Same with my friends.

They asked me how that scam was going..  Cry
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October 26, 2014, 03:58:24 AM
 #3160

Meta: Have "American Greed" playing on the TV in the background while working, and had an amusing thought of "I can't wait to see an episode done about Butterfly Labs..."

That would be a real good episode.. seriously.

It should be on american greed, the amount of money prob beats all the episodes out there.
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