Butterflylabs Huge SCAM

[Serjster]

Wow! So much negativity here.... BFL should have their backorders fulfilled by August 2013. Reputable people have received and are mining with their Jalapenos: https://twitter.com/BFL_News Why be so negative when in reality you don't know anything? You must be one of the jealous ones that missed the price of the unit before it nearly doubled...

[trance1999]

Wow! So much negativity here.... BFL should have their backorders fulfilled by August 2013. Reputable people have received and are mining with their Jalapenos: https://twitter.com/BFL_News Why be so negative when in reality you don't know anything? You must be one of the jealous ones that missed the price of the unit before it nearly doubled...

Why all the negativity?

Because those who are mining with older tech are hoping and praying that BFL is a scam so they can keep mining at the current difficulty.  Cause otherwise their mining days are numbered unless they buy some ASICs also.  Even if BFL were a scam (and it's not) those days will soon be over anyway.  The total hashrate (and therefore the difficulty) will be exponentially higher within 6 months.  No doubt about it.  If it's in the 70TH's today it will be no less than 700 or 1000TH's in 6-9 months.

The REAL problem is that BFL is NOT a scam.  That's a bigger problem.  In 9-12 months, paying $2500 for 50GH will be a losing proposition unless the value of BTC hits $500 US.  It's going to be hard to break even when 50GHs is a tiny % of the processing power.  The difficulty is about to skyrocket.  The value of BTC has to rise with the difficulty or mining won't make sense.  <- remember this

Most of the people who paid and then got pissed off for not receiving anything have already demanded a refund.  Might still be pissed and feel screwed, but those aren't the one's here complaining.

And to all those who keep questioning if BFL is just mining with the gear.. gawd!  I'm a noob and I know that's not happening.  It would be easy to tell.  Do some investigating on blockchain.info or something.

And finally, who got an email saying that they're not shipping until october?  Really?  Cause I didn't get mine yet.  Did they only send it to some people who ordered?

[talnted]

Why would anyone want to purchase a product from a company where their employees (Josh aka Inaba) is spending his whole time sitting on a forum defending himself and calling everyone an idiot and trying to be witty insulting everyone that challenges his.

Its rediculous how unprofessional he is. I can honestly say I have never seen anything like it.

I would stay as far away from BFL as possible if I had any advice for newbies.  Look at who they let represent their company and brand.

[mrkubanftw]

Wow! So much negativity here.... BFL should have their backorders fulfilled by August 2013. Reputable people have received and are mining with their Jalapenos: https://twitter.com/BFL_News Why be so negative when in reality you don't know anything? You must be one of the jealous ones that missed the price of the unit before it nearly doubled...

Why all the negativity?

Because those who are mining with older tech are hoping and praying that BFL is a scam so they can keep mining at the current difficulty.  Cause otherwise their mining days are numbered unless they buy some ASICs also.  Even if BFL were a scam (and it's not) those days will soon be over anyway.  The total hashrate (and therefore the difficulty) will be exponentially higher within 6 months.  No doubt about it.  If it's in the 70TH's today it will be no less than 700 or 1000TH's in 6-9 months.

The REAL problem is that BFL is NOT a scam.  That's a bigger problem.  In 9-12 months, paying $2500 for 50GH will be a losing proposition unless the value of BTC hits $500 US.  It's going to be hard to break even when 50GHs is a tiny % of the processing power.  The difficulty is about to skyrocket.  The value of BTC has to rise with the difficulty or mining won't make sense.  <- remember this

Most of the people who paid and then got pissed off for not receiving anything have already demanded a refund.  Might still be pissed and feel screwed, but those aren't the one's here complaining.

And to all those who keep questioning if BFL is just mining with the gear.. gawd!  I'm a noob and I know that's not happening.  It would be easy to tell.  Do some investigating on blockchain.info or something.

And finally, who got an email saying that they're not shipping until october?  Really?  Cause I didn't get mine yet.  Did they only send it to some people who ordered?

Couldn't have said it better. They wont mine with their own hardware when they make more money off selling the hardware to us. The faster they ship product the more they make. That is their goal. To assume anything else is just silly.

[saberu]

Not a scam, i have nothing else to add :p

[adpinbr]

Its not a scam they just needed your money to pay for production, they knew you wouldn't pay today to get it a year later. These guys have expenses such as paying there PR guy a huge salary

[redphlegm]

I just hope these things are shipped and I receive mine before difficulty skyrockets and I end up wasting the money that I spent on one of the boxes.

[IslandGuy]

Their customer service can be seen as a little rough around the edges.  Has anyone been successful  at
minimizing the cost of electricity with alternative power sources. Like wind, water currents, and  solar?

Using one of BFL's  smaller units in a pool with reduced power cost, could be worth considering.
However then there is the cost of parts that burn out like fans.

I'm brand new to this so I don't know much. However in some situations the all parts of a scenario have to
be just right for something to work.  It's not just about the upfront cost.

Don't mind me though I can respect the fact that people who paid months ago have seen the price
of BTC skyrocket.  So that can be seen as lost money.
  

[kieran5405]

still waitin on mine since august 2012....

[roy7]

Has anyone been successful  at
minimizing the cost of electricity with alternative power sources. Like wind, water currents, and  solar?

Don't know who it was, but someone says in their signature all of their BTC farming is solar powered.

[Genom]

Maybe in next months (september or later) the only way to have a good profitability with ASIC (small amount) will be to have an almost free electricity

[lemonys]

I've paid for all mine via credit card, If it doesn't ship I have a $0 liability.

I'm not giving an opinion here on the scam\noscam issue. But this last comment dose make me wonder - is there a statue of limitations with a credit card company on how long you can wait to file a fraudulent claim, etc..?

[MunneY]

I've paid for all mine via credit card, If it doesn't ship I have a $0 liability.

I'm not giving an opinion here on the scam\noscam issue. But this last comment dose make me wonder - is there a statue of limitations with a credit card company on how long you can wait to file a fraudulent claim, etc..?

most of the time its 90 days... some stuff is 180.

[psionix]

its generally 90 days, same as checks.

[Anillos]

Look up the meaning of ponzi scheme. No really look it up. You need to actually read it and understand it. Then pick your date. I can't make it any more clear.

If they have a working product and are able to deliver all of said product to the consumers who have ordered it while maintaining a profit, then by definition they are not a ponzi scheme. I strongly suggest you look up what a ponzi scheme is before attacking me.

If they cannot deliver by some date we choose, then we have the right to request a refund in mass. If BFL cannot refund our money and have no product, then yes they are a ponzi scheme. Then I and my lawyers will call for a both an investigation by the government and also a class action lawsuit. The management will return to prison and we will address the ASIC issue in a more transparent and open way.

Are you sure you read it correctly? Actually its worse than a ponzi scheme it gives no returns on investments.

It's a PWNzy scheme.

But at least they ships nice photos.

I invested 0.01001111 BTC in ASIC with Pyramining, and I have lost it. Thanks BFL.

[giantdragon]

In 9-12 months, paying $2500 for 50GH will be a losing proposition unless the value of BTC hits $500 US.  It's going to be hard to break even when 50GHs is a tiny % of the processing power.  The difficulty is about to skyrocket.  The value of BTC has to rise with the difficulty or mining won't make sense.  <- remember this

I think if difficulty will go up 10x or more price will definitely correlate, because most miners will just stop selling generated coins in loss and hoard them waiting for the better exchange rate.

[pajak666]

why previous FPGA buyers are still not asked to send their units to be replaced with ASIC, within their exchange program.
This made me think they are not legit all the time, even they showed some vids and pics.

[charleshoskinson]

Well we are going to have to wait and see.

[BitGlory]

With thousands of dollars you can make all the videos and pics you want.

[iwannagofast]

Yeah I think their just stalling before they disappear.