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Author Topic: Butterflylabs Huge SCAM  (Read 379217 times)
Malophor
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October 01, 2012, 08:24:20 PM
 #41

Investing in BFL hardware doesn't seem any more risky than investing in BTC in the first place. It's a gamble. Don't put in more than you can stand to lose.
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October 01, 2012, 11:01:56 PM
 #42

Investing in BFL hardware doesn't seem any more risky than investing in BTC in the first place. It's a gamble. Don't put in more than you can stand to lose.

Bitcoin isn't vaporware.
CJGoodings
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October 01, 2012, 11:08:19 PM
 #43

This recent increase in bfls launch numbers just remind me of all those 1 uppers that ive dealt with in life.

For those who dont know what an One-upper is, according to urban dictionary:

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A one-upper who always has to be bigger or better than you. If your uncle has 20 ft. boat, his uncle or cousin has 21 ft. boat. A one-upper never loses in the world of story-telling.
   
A one-upper is someone who always has to be bigger and better than everyone else. If you say you are drunk, they exclaim with how much more they have drank than you.
underminer
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October 01, 2012, 11:11:42 PM
 #44

Or you can watch zombieland for a good definition lol.

Keep your bitcoins my .02 are free.
sgravina
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October 01, 2012, 11:16:00 PM
 #45

As always, I feel terribly sorry for all you guys.

I was unaware.  Thank you.
Malophor
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October 01, 2012, 11:20:13 PM
 #46

Investing in BFL hardware doesn't seem any more risky than investing in BTC in the first place. It's a gamble. Don't put in more than you can stand to lose.

Bitcoin isn't vaporware.

Sure, the client and hashing power of the network DO exist. But the value of a BTC could come crashing down tomorrow. A few big hacks / attacks, government involvement, protocol changing, etc... This whole thing is an experiment. It will be interesting to see where BTC are in 10 years. I'm betting on it still going strong and it's in our best interest to support that.
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October 01, 2012, 11:22:34 PM
 #47

Investing in BFL hardware doesn't seem any more risky than investing in BTC in the first place. It's a gamble. Don't put in more than you can stand to lose.

Bitcoin isn't vaporware.

Sure, the client and hashing power of the network DO exist. But the value of a BTC could come crashing down tomorrow. A few big hacks / attacks, government involvement, protocol changing, etc... This whole thing is an experiment. It will be interesting to see where BTC are in 10 years. I'm betting on it still going strong and it's in our best interest to support that.

No way, if america still stands by the end of 10 years, its fucked government will have already removed all possible "threats" to its control. Controls over currency is a big one.
firefop
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October 02, 2012, 08:06:44 PM
 #48

I don't think your math is right. Currently there are roughly 7200 bitcoins generated per day, if 10000 equal powered asics were to compete (disregarding everything else), that is less than 1 bitcoin per day per unit.

And given the reward drop, it's going to be less than half a bitcoin per day before these ship. So you're looking at 10+ years at current rates to break even.

It's possible... lets check:


here are my numbers for a current BFL mini-rig.

Total Hash Rate:25000 MH/s @d= 2864140.507811
Average time to find one block: 5.70 days
Average daily revenue: 8.77949578 BTC ($111.68)
Average daily commissions/donations: 0.00000000 BTC ($0.00)
Average daily electricity cost: $10.08 (0.79245345 BTC)

Average daily profit: 7.98704233 BTC ($101.60)

vs SC rig after 40x difficulty increase

Total Hash Rate:1500000 MH/s @d= 114565620.31244
Average time to find one block: 3.80 days
Average daily revenue: 13.16924368 BTC ($167.51)
Average daily commissions/donations: 0.00000000 BTC ($0.00)
Average daily electricity cost: $12.60 (0.99056682 BTC)

Average daily profit: 12.17867686 BTC ($154.91)

Please use the calculator of your own choice. . .

SLok
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October 02, 2012, 09:31:22 PM
 #49

I don't think your math is right. Currently there are roughly 7200 bitcoins generated per day, if 10000 equal powered asics were to compete (disregarding everything else), that is less than 1 bitcoin per day per unit.

And given the reward drop, it's going to be less than half a bitcoin per day before these ship. So you're looking at 10+ years at current rates to break even.

It's possible... lets check:


here are my numbers for a current BFL mini-rig.

Total Hash Rate:25000 MH/s @d= 2864140.507811
Average time to find one block: 5.70 days
Average daily revenue: 8.77949578 BTC ($111.68)
Average daily commissions/donations: 0.00000000 BTC ($0.00)
Average daily electricity cost: $10.08 (0.79245345 BTC)

Average daily profit: 7.98704233 BTC ($101.60)

vs SC rig after 40x difficulty increase

Total Hash Rate:1500000 MH/s @d= 114565620.31244
Average time to find one block: 3.80 days
Average daily revenue: 13.16924368 BTC ($167.51)
Average daily commissions/donations: 0.00000000 BTC ($0.00)
Average daily electricity cost: $12.60 (0.99056682 BTC)

Average daily profit: 12.17867686 BTC ($154.91)

Please use the calculator of your own choice. . .
Forgot block reward halving, will happen before the difficulty increases 40x?

WARNING! Don't trade BTC with Bruno Kucinskas aka Gleb Gamow, Phinnaeus Gage, etc Laundering BTC from anonymous sellers, avoid!https://bitcointalk.org/index.php?topic=649176.msg7279994#msg7279994 #TELLFBI #TELLKSAG #TELLIRS WARNING! Darin M. Bicknell, a proclaimed atheist, teaching at the Jakarta CanadianMontessori School. Drop your kids there at your own risk! WARNING! Christian Otzipka - Hildesheim is a known group-buy scammer, avoid! WARNING! Frizz Supertramp, faker with dozens of accounts here! WARNING! Christian "2 coins to see SLOk's" Antkow, still playing his little microphone...WARNING! Slobodan "Stolen Valor" Bogovac, faking being a ProfessorWARNING!Marion Sydney Lynn, google him, errr her, errr.. and lol
FLHippy
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October 02, 2012, 10:48:47 PM
 #50

I don't think your math is right. Currently there are roughly 7200 bitcoins generated per day, if 10000 equal powered asics were to compete (disregarding everything else), that is less than 1 bitcoin per day per unit.

And given the reward drop, it's going to be less than half a bitcoin per day before these ship. So you're looking at 10+ years at current rates to break even.

It's possible... lets check:

here are my numbers for a current BFL mini-rig.

Average daily profit: 7.98704233 BTC ($101.60)

vs SC rig after 40x difficulty increase

Average daily profit: 12.17867686 BTC ($154.91)


Since the topic is BFL is a scam, and assuming (perhaps incorrectly) that it really is a scam...
Do you happen to have the numbers for GPU/FPGA mining projected for 6 months?


Shadow383
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October 02, 2012, 10:50:43 PM
 #51

Let's not forget that BFL will be testing those units before they go out.
We know that inaba's currently mining with 500Gh/s of what are probably people's mini-rig and single orders for "burn in" testing.
If they do a similar thing with the ASICs (and really, why wouldn't they?) they'll earn a small fortune and have the vast majority of the network hashrate.

Assuming the whole thing's not a total crock of shit  Cheesy
underminer
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October 02, 2012, 10:54:26 PM
 #52

So the time to mine is now, and start looking speculatively towards alternate currencies which may still be able to hold out and be profitable for gpu computing in the future...

Keep your bitcoins my .02 are free.
Aahzman
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October 02, 2012, 10:57:05 PM
 #53

Did I miss the Daily BFL bashing?

Kontakt
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October 03, 2012, 12:13:49 AM
 #54

It may not be a documentable scam, but that doesn't mean that doesn't mean it's entirely legitimate, either. With these kind of prices and elusive behavior, there's got to be a big gotcha in there somewhere. I only mine to make a few coins on the side. If I'm convinced of BFL's legitimacy after the ASIC launch, I may pick one up. However, for now I will hold steady, watch and wait. Gold rushes may make some rich, but just as many will be ruined. I prefer my investments long term and low risk. I may not become a millionaire, but I won't end up a pauper. There are plenty of other ways to make money with bitcoin than mining. Wherever there's an opportunity for arbitration, I'll find a way to monetize it.
Aahzman
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October 03, 2012, 12:27:53 AM
 #55

It may not be a documentable scam, but that doesn't mean that doesn't mean it's entirely legitimate, either. With these kind of prices and elusive behavior, there's got to be a big gotcha in there somewhere. I only mine to make a few coins on the side. If I'm convinced of BFL's legitimacy after the ASIC launch, I may pick one up. However, for now I will hold steady, watch and wait. Gold rushes may make some rich, but just as many will be ruined. I prefer my investments long term and low risk. I may not become a millionaire, but I won't end up a pauper. There are plenty of other ways to make money with bitcoin than mining. Wherever there's an opportunity for arbitration, I'll find a way to monetize it.

that was kinda my rationale behind pre-ordering a couple of jalapenos. if they ship, and they work great, and i make a coin or two, or even just a decent ROI vs the 2BTC/mo i make with a single 6770 mining on slushpool, then I'm happy. If it turns out to be a bust, and I am unable to get my money back from them, then i'm only out $300 bucks, and my only punishment is listening to my fiancee bitch at me for a little while. I don't expect to get rich, and it sure won't bust me to lose $300, but I'm gonna stay optimistic, rather than join in the gloom'n'doom spewing...

bitbobboom
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October 03, 2012, 12:44:03 AM
 #56

Look at precedence first. OP could be correct, but the claim is heresay.
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October 03, 2012, 01:08:46 AM
 #57

Quote
We know that inaba's currently mining with 500Gh/s of what are probably people's mini-rig and single orders for "burn in" testing.

Please don't spread misinformation and outright lies, thanks!

If you're searching these lines for a point, you've probably missed it.  There was never anything there in the first place.
firefop
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October 03, 2012, 05:59:25 AM
 #58

Forgot block reward halving, will happen before the difficulty increases 40x?

I suppose that depends on how fast BFL ships orders - but really the btc adjusting to lower supply should drive prices up enough to not make it matter... and it probably won't hit 40x for awhile... so I feel pretty ok with just ignoring it for now.



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October 03, 2012, 03:07:29 PM
 #59

They still seem to be advertising! Must be another version of the scam.
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October 03, 2012, 03:59:15 PM
 #60

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Because BTC is much more easier to run away with than with cash. I wonder how many people actually paid by wire. Zero?

Don't be a muppet, lot's of people paid by Credit Card, myself included... because it credit cards have...

*drum roll please*

FRAUD PROTECTION

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