Butterflylabs Huge SCAM

[teriaki]

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.

[fruni]

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

[sgrunger]

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.

[tahar]

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.

[GoldSeal]

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. =)

[charleshoskinson]

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.

[Bytecoiner]

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?

[charleshoskinson]

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.

[batman, not crabman]

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   

[ooeygooeygold]

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   

couldnt have said it better myself

[justabitoftime]

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   

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

[js2082]

looks very much a scam, lol

[wiz111]

I asked refund twice....because 6 months with same money in bitcoins could make me rich 

[Dumbastronaut]

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

[MultipliedCombo]

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

[uMMcQxCWELNzkt]

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.

[pekv2]

Did they jump the price of the jalapeno from $170 to $274?

[RustyGunz]

Does anyone know if there was a limited release from BFL very recently? The Hashrate jumped to a new all-time high (could just be a consequence of mining popularity). Disclosure- I have not purchased anything from them, just a curious citizen.

[Abo Adamson]

I have this feeling that all the idiots who scream that BFL is a scam will just disappear and make new accounts later this year. And there will be a few nuts that believe that hundreds of forum users are being paid by BFL to act like they got working ASIC's.

who knows ))

[Schrankwand]

I have this feeling that all the idiots who scream that BFL is a scam will just disappear and make new accounts later this year. And there will be a few nuts that believe that hundreds of forum users are being paid by BFL to act like they got working ASIC's.

who knows ))

He forgot the third group.

The people that bitch about their ASIC not going break even in 6 months. You know, an investment that makes over 10% a year is usualyl scammy... here in Bitcoin, people go nuts if something does not make 100% in 4 months