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Author Topic: Butterflylabs Huge SCAM  (Read 376070 times)
trance1999
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April 20, 2013, 11:37:18 PM
 #501

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.

My blog - a noobs journey through ASIC bitcoin mining at: http://mineshaft.me (http://mineshaft.me)
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April 20, 2013, 11:56:55 PM
 #502

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.

They're beta testing a 5Gh/s unit that consumes 30w six months after they were supposed to ship their 4.5Gh/s unit that consumes 4.5w to investors. That sure sounds like a scam to me and those are the lucky investors. If you ordered a $30,000 minirig SC in June of 2012...well tough luck buddy.

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April 21, 2013, 12:23:19 AM
 #503

Confirmed:

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



Jally? http://www.youtube.com/watch?feature=player_embedded&v=_6mmTRheUzg

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April 21, 2013, 12:23:59 AM
 #504

yes, the firsts ones to receive it will make some bucks. the rest... i doubt it

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April 21, 2013, 12:51:55 AM
 #505

Until they're doing it at scale, it's a scam.  Delivering two units a half year after promised with less specs doesn't prove anything.
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April 21, 2013, 01:31:07 AM
 #506

theres still room for money to be made I ordered in jan... I hope I can at least mine other currencies by the time I get it xD
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April 21, 2013, 01:35:50 AM
 #507

I think they shot themselves in the foot by confining themselves to such a small form factor. They must have ran into problem after problem after problem to manage and extract such processing power out of a tiny device.

If we compare to Avalon Asic, their unit is huge, even if it does run 60GH/s, I'm sure they had nowhere near as many problems.

Plus, when you create a new product, usually you have one or many competitors you can study and evaluate and create something new based on where they are at, but with this kind of concept this is 100% new, you're bound to hit 20x as more walls in my opinion.
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April 21, 2013, 01:43:14 AM
 #508

Confirmed:

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



Jally? http://www.youtube.com/watch?feature=player_embedded&v=_6mmTRheUzg

Just saw this too. It at least adds some real credibility and removes a lot of seeds of doubt, but there are still trust to be gained by BFL. This is a good start, but only that.

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April 21, 2013, 02:18:14 AM
 #509

There's no sense in bitching on this board about BFL being a scam. If you feel they have victimized you, then file a complaint with the http://ag.ks.gov/ They've made it extremely easy. You can file it online through their website in about 5 min. It takes just a little effort from a few everyday people to help stamp out wire fraud. =)


Moving to Puerto Rico...
charleshoskinson
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April 21, 2013, 02:21:20 AM
 #510

I took a chance and ordered a 5 GH/s unit. If it turns out to be a scam, then I will launch a kickstarter project to build an open sourced ASIC.

The revolution begins with the mind and ends with the heart. Knowledge for all, accessible to all and shared by all
Bytecoiner
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April 21, 2013, 02:50:54 AM
 #511

I took a chance and ordered a 5 GH/s unit. If it turns out to be a scam, then I will launch a kickstarter project to build an open sourced ASIC.

Cool. What manufacturing background do you have?
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April 21, 2013, 04:34:41 AM
 #512

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Cool. What manufacturing background do you have?

I'm a mathematician by trade, but I've done a lot of VLSI for several aerospace projects. A friend of mine is an electrical engineer who works for Intel and consults for Achronix. We'd start an ARM style company that develops the IP behind the chips and licenses the technology to merchants for commercial use and allows free personal use.

The revolution begins with the mind and ends with the heart. Knowledge for all, accessible to all and shared by all
batman, not crabman
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April 21, 2013, 04:56:06 AM
 #513

I feel bad for everyone that pre-'ordered' with BFL but since I'm waiting on delivery of an Avalon I selfishly hope it's a scam so the difficulty doesn't get too high too fast. Sorry   Undecided

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ooeygooeygold
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April 21, 2013, 05:16:04 AM
 #514

I feel bad for everyone that pre-'ordered' with BFL but since I'm waiting on delivery of an Avalon I selfishly hope it's a scam so the difficulty doesn't get too high too fast. Sorry   Undecided

couldnt have said it better myself

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justabitoftime
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April 21, 2013, 07:28:51 AM
 #515

I feel bad for everyone that pre-'ordered' with BFL but since I'm waiting on delivery of an Avalon I selfishly hope it's a scam so the difficulty doesn't get too high too fast. Sorry   Undecided

I knew there was some risk ordering from BFL, it was within acceptable ranges. No need to feel bad, nature of the beast.

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April 21, 2013, 07:51:02 AM
 #516

looks very much a scam, lol
wiz111
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April 21, 2013, 07:54:54 AM
 #517

I asked refund twice....because 6 months with same money in bitcoins could make me rich  Grin
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April 21, 2013, 07:56:38 AM
 #518

If you still believe in BFL... just consider it a loss. the worse that could happen is you'll be where you are now. The best is that they actually do deliver and you will be a very happy person.

Fuck that stress

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MultipliedCombo
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April 21, 2013, 09:03:35 AM
 #519

The strange thing is that I've read this post somewhere. I guess you're trying to notify us all.

owenprescott
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April 21, 2013, 02:46:45 PM
 #520

Quote
Cool. What manufacturing background do you have?

I'm a mathematician by trade, but I've done a lot of VLSI for several aerospace projects. A friend of mine is an electrical engineer who works for Intel and consults for Achronix. We'd start an ARM style company that develops the IP behind the chips and licenses the technology to merchants for commercial use and allows free personal use.

This is interesting, check out my 'BitPhantom' design ideas in my sig. As a designer I could do branding, design 3d products, code websites and so on. I have been thinking about taking on such a project but I do not have the technical background.
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