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Author Topic: Butterflylabs Huge SCAM  (Read 375399 times)
k3t3r
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April 09, 2013, 09:11:46 PM
 #401

I can only assume they have taken my money and run. No contact from them since my order in july 2012 (apart from a couple of news letters) and no response to my emails. They dont even sell the product I ordered now.
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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creativex
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April 10, 2013, 12:09:59 AM
 #402


Or as we bitcointalk.org vets call him...JZ or lying sack of crap scammer. All in good fun of course. Grin

Anyone that thinks that last nickname is unearned should see this thread:

https://bitcointalk.org/index.php?topic=171723.0

spiral_mind
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April 10, 2013, 12:38:49 AM
 #403

So do they even have the production capacity to make 400 units a day (as some have estimated) with 1 mydata m9 pick and place machine and the other 2 different machines they bought? Shouldn't they be buying more machines with all that pre-order money to fill their pre-orders ASAP?
Trommie
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April 10, 2013, 12:51:10 AM
 #404

Does anyone know which foundry these ASICs are being built at? If so we could ring them up and have a thirs person verification. If they are building the ASICs then it's pretty sure the rigs will appear at somepoint but if no foundry has heard of them then it doesn't look good ...

If BFL say which foundry are producing the ASICs I'll put a few pre-orders in.
finder_keeper
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April 10, 2013, 12:53:41 AM
 #405

I placed an order, was almost ready to wire $30k, then thought the better of it.

Unfortunately, I also put off buying BTC directly for 3 months after that, until last month :-(

-- FK

12HYShbhrFH1eyrmXc3zMRSFFnkgaVstcg
wmikrut
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April 10, 2013, 01:04:17 AM
 #406

I placed an order, was almost ready to wire $30k, then thought the better of it.

Unfortunately, I also put off buying BTC directly for 3 months after that, until last month :-(

-- FK

Unfortunately it's not going to matter much.  If/When BFL actually gets around to shipping the units, the difficulty will have skyrocketed so high you will never make as much as the early Avalon adopters.  Granted you will make more than us FPGA people  Roll Eyes ....

In one month I have watched the difficulty jump from 3.2M to almost 9M.
Where do you think it will be 1 month from now?  How about when Avalon releases the second batch, or people add the upgrade module to the first batch?

I will NEVER ask for any kind of funds up front in a buy/sale of anything on bitcointalk.

BM-2cTFihJKmSwusMAoYuUHPvpx56Jozv64KK
asphaltocean
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April 10, 2013, 08:22:12 AM
 #407

I'm quite on the fence about it as well.

Think about it, even with the 5gh/s machine, you'd be mining 10BTC a month.  You're going to tell me that they're totally fine with selling a piece of hardware that generates (at the time of this posting, based on recent market values) ~$2,300USD a month?!

yeah right.

I'd simply never have to work again.

I always remember the old adage:

"If it sounds too good to be true, it probably is."
jfisbein
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April 10, 2013, 09:38:01 AM
 #408

I want to have one of those.
Facedown5150
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April 10, 2013, 11:43:05 AM
 #409

Still waiting on my ASIC.  At least for now my single is chugging away. 
kevcoins
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April 10, 2013, 11:53:51 AM
 #410

maybe josh is using this ASIC for his own mining for a couple of months before he deliver to you all ......let say 60gH/s per set x  1000 set = 60TH/s that is a very powerful weapon considering the hash rate this butterfly machines can produced. Smiley making double profit...
ande85
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April 10, 2013, 12:07:42 PM
 #411

Personally I'm relieved that this is a scam. I mean, seriously, one mini rig replaces about 20%-25% of all mining globally? Sounds like a bad thing for the average miner who doesn't have thousands of dollars to throw around...or in my case even $500 would be breaking the bank. So, yeah, for self-serving reasons I hope it remains GPU based...at least this way I have a nice card for gaming as well as mining. Cheesy
bcminer9
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April 10, 2013, 02:59:00 PM
 #412

Personally I'm relieved that this is a scam. I mean, seriously, one mini rig replaces about 20%-25% of all mining globally? Sounds like a bad thing for the average miner who doesn't have thousands of dollars to throw around...or in my case even $500 would be breaking the bank. So, yeah, for self-serving reasons I hope it remains GPU based...at least this way I have a nice card for gaming as well as mining. Cheesy

Not to mention decent video editing. My thoughts exactly.

Sorry to those who bought the BFL bs  Sad
mrb
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April 11, 2013, 03:34:08 AM
 #413

Personally I'm relieved that this is a scam. I mean, seriously, one mini rig replaces about 20%-25% of all mining globally?

Your math is bad. It would be only 2% (1.5 Th/s out of 70 Th/s).

And, no, BFL is not a scam (they have a working prototype of their ASICs - not the Mini Rig though).
roy7
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April 11, 2013, 03:41:00 AM
 #414

I can only assume they have taken my money and run. No contact from them since my order in july 2012 (apart from a couple of news letters) and no response to my emails. They dont even sell the product I ordered now.

I've seen numerous people report they got refunds after asking for one. Ask for a refund if you don't want to keep waiting. They've also said the new product line for future orders is separate from the prior product line on older orders. You'll get what you ordered before, not one of the new products.

RoyalMiningCo: Pools retired. Was fun!
gsibble
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April 11, 2013, 06:57:30 AM
 #415

As a GPU miner, I'm not sure whether I want this to be true or not.  I'd be happy to see asics move forward and people not get ripped off......but I still want my GPUs to be worthwhile Smiley

Oh well.  Time will tell.
naiqus
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April 11, 2013, 07:27:30 AM
 #416

Though they have worked on it......but not this time. I say, negative.
nightminer
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April 11, 2013, 08:07:42 AM
 #417

I don't believe this is a scam because usually scammers do not give refunds. Sure, I am a bit biased because I am also patiently waiting for my 60MHash little box. I am technically speaking an "investor" in butterflylabs. It's almost like a kickstarter project for their new range of products, because I'm pretty sure they use pre-order money to keep this thing afloat.

All new projects have teething problems. I'm pretty sure when Intel created their very first chip they had problems too. If all their investors fled right at the beginning we would not have i7 today.

http://www.mybitalert.com/ (http://www.mybitalert.com/)  -  Bitcoin Price change Alerts via Email, SMS, twitter and more.
Grouver (BtcBalance)
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April 11, 2013, 08:15:18 AM
 #418

I don't believe its a run-away-with-money scam either.
There just to much people that placed an order which will hunt down them personally if they run away with the money.
I do think they play a very wrong game with there customers and are lying about a couple of essential things like they paid the whole chip design proces with there own capital.

Francesco
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April 11, 2013, 09:57:04 AM
 #419

I don't believe its a run-away-with-money scam either.
There just to much people that placed an order which will hunt down them personally if they run away with the money.
I do think they play a very wrong game with there customers and are lying about a couple of essential things like they paid the whole chip design proces with there own capital.


...yes. Remember how there being so many people heavily invested in Pirate (some claiming to know who he was or where he lived, some having met him in person) effectively kept him from disappearing, right?
Fallen666
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April 11, 2013, 10:13:01 AM
 #420

Long term they willl earn more by keeping the market alive than to be the only miner out there.....

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