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Author Topic: Butterflylabs Huge SCAM  (Read 415212 times)
Hei_
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April 20, 2013, 01:12:24 PM
 #481

http://www.youtube.com/watch?v=cnuodLiCGzY
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April 20, 2013, 01:31:59 PM
Last edit: April 22, 2016, 12:22:11 AM by ghostlander
 #482

It's speculated that BFL have started to use the HW for themselves since the BTC rise a few months back. Maybe there are also some serious HW/SW bugs to catch and fix.

"If you've got a problem and have to spread some coins to make it go away, you've got no problem. You've got an expence." ~ Phoenixcoin (PXC) and Orbitcoin (ORB) and Halcyon (HAL)
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April 20, 2013, 01:55:06 PM
 #483

Ceo was a convicted felon for fraud.
There's no way he'll deliver.
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April 20, 2013, 01:57:07 PM
 #484

that's why I think is important to always stay with one type of coin.
others are scams...
Dark3nedFaith
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April 20, 2013, 01:58:54 PM
 #485

I would never go for one of their ASICS without a proof of concept
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April 20, 2013, 01:59:13 PM
 #486

About BLF I find out few days ago, for me it's look like scam, they take money and give only promises
greene63
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April 20, 2013, 02:06:13 PM
 #487

but there are also other coins that look like scam.
mainly the give aways... :\
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April 20, 2013, 02:18:12 PM
Last edit: April 22, 2016, 12:20:52 AM by ghostlander
 #488

BFL have delivered FPGAs in the past. They also have some kind of a trade-in program. We'll see.

"If you've got a problem and have to spread some coins to make it go away, you've got no problem. You've got an expence." ~ Phoenixcoin (PXC) and Orbitcoin (ORB) and Halcyon (HAL)
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April 20, 2013, 02:34:13 PM
 #489

The main issue, for me atleast, is the overriding question as to why they don't just run their products themselves? Surely their cost of capital is not so high that they can't finance construction without customer deposits and capture a nice spread as their mining produces fantastic returns?
roy7
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April 20, 2013, 04:15:33 PM
 #490

The main issue, for me atleast, is the overriding question as to why they don't just run their products themselves? Surely their cost of capital is not so high that they can't finance construction without customer deposits and capture a nice spread as their mining produces fantastic returns?

You could use same logic with Avalon, and they have shipped. Hardware companies make hardware.
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April 20, 2013, 07:03:48 PM
 #491

Anyone had their product in hand?
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April 20, 2013, 09:02:52 PM
 #492

Constant pushing up delivery date = don't know what we're doing. They may legitimately wish to sell asics but they don't know how to engineer them as evident by weekly updates stating there some new problem with the chip or the board they didn't anticipate.
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April 20, 2013, 09:19:17 PM
 #493

Mayby they are working but for Yuorself for Yours money. They will say we will shipping in next month.. next next next = never.
uMMcQxCWELNzkt
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April 20, 2013, 09:23:36 PM
 #494

Cryptocondom BFL protection pack


https://bitcointalk.org/index.php?topic=181562.msg1897484#msg1897484

Extended protection for those taking out pre-orders with BFL.
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April 20, 2013, 10:47:01 PM
 #495

Thanks for the info, guys. I'm glad I didn't end up ordering.
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April 20, 2013, 10:52:20 PM
 #496

So glad I saw this thread, I was looking to invest in one of these - Looks like I'll go back to saving up for the hardware myself and building a better rig. Just need to save, which will take time... Sad

New Bitcoin Miner - If i've helped you, please donate: 15G6Zm6rAJu6ME5BQqX9GXGwGLgzC9Mboc
thebadplus
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April 20, 2013, 11:13:04 PM
 #497

Confirmed:

butterfly labs is a scam.  They have no real product, and I'm quite sure they have no intention of developing one.

ooeygooeygold
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April 20, 2013, 11:19:46 PM
 #498

yea looks like a huge scam to me
n.montross1
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April 20, 2013, 11:36:49 PM
 #499

wow this is really surprising and just good to know that there are scammers like this out there and to be careful and beware.
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April 20, 2013, 11:37:18 PM
 #500

Confirmed:

butterfly labs is a scam.  They have no real product, and I'm quite sure they have no intention of developing one.



confirmed huh?  Sounds like a troll to me.

They shipped 2 of their 5GH units to beta testers.  They are not a "scam".  Now, whether or not you'll be able to break even.  That's yet to be seen.  If they ship all the units people have ordered the hash rate will grow so much (the difficulty will rise so much) that you won't me able to mine much more with a 50GH unit than you can today with a decent video card.
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