Butterflylabs Huge SCAM

[bernard75]

Butterflylabs is and has been a scam. No one listened to me 3 months ago...

According to your profile, you werent even a member 3 months ago.

[1714125028]

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[QuestionAuthority]

Can anyone confirm they have received an ASIC from BFL?  Pictures mining would be nice.

I have one, his name is Asic. We got him from Better Florida Living. He works the family mine at night and during the day he makes the most delicious Chili Rellenos. Yum!

[xyzpdq]

Can anyone confirm they have received an ASIC from BFL?  Pictures mining would be nice.

I have one, his name is Asic. We got him from Better Florida Living. He works the family mine at night and during the day he makes the most delicious Chili Rellenos. Yum!

http://www.cipamericas.org/wp-content/uploads/2012/08/miners1.jpg

LOL... not sure if it is politically correct to laugh, but I did smile.  Thx.

[Inaba]

True enough.  At $100 per coin, at $0.15/kw hour, a Single SC will bring in $67.07 per month after power costs at difficulty 900 million.  

At a 10x increase in hashing power, or ~280 TH, it would bring in $565 per month roughly, after power costs.  At $10 per coin, it's still bringing in $56 a month.

BFL doesn't price their products in BTC, they are sold for USD, so any factoring and figuring you do is in USD and then feel free to convert from there.

[Photon939]

Can anyone confirm they have received an ASIC from BFL?  Pictures mining would be nice.

I posted a pic of mine a few pages back, go take a look

[MooC Tals]

Butterflylabs is and has been a scam. No one listened to me 3 months ago...

....says the guy that doesn't have a jalapeno because he didn't order...

Brilliant and if he had an order you would say just shut up and get a refund and he would also be a hypocrite.

Face palm*

[gon2]

we still ordering them 

[FloridaBear]

Sorry Floridabear, your math is off.  At $0.15 kw/h power cost, a Single is still profitable to a worthwhile degree even at 900 million difficulty.  It's going to be a bit of time before we see 900 million difficulty, from 19 million now.

You really have to define "a bit of time." I defined it clearly in my post, and my math is not off based on the assumptions I posted. Please don't accuse me of being wrong when I provide all of the assumptions I used for the calculations, unless you've done the math with those assumptions yourself (and you can prove I did them wrong).

My math is correct according to the assumptions I gave and I stand by it. A 50 GH single will only ever produce about 28 BTC ($2800) if delivered in September and my assumptions prove correct.

If you want to argue about 18% increases every retarget being too pessimistic from Sept '13 to March '14 (when all currently available BFL devices become unprofitable at $0.11/KWh) , that's fine, but don't just say "your math is off." However, I don't think 18% is at all unreasonable. When GPUs were rolling out, we saw difficulty go from 19 to 9000 in about 5 months. And that's an order of magnitude greater than the change we're talking about (19M to 900M). If ASICs come on line at that rate, we'll be at 9 billion by February (except that none are profitable there, so it won't happen). But I don't think 900M is unreasonable by Jan 1. Granted we will see some leveling off after that as less efficient ASICs become unprofitable. But if 28 nm products are real and rolling out, they will quickly obsolete everything less efficient. This is a pretty inevitable path we're going down.

My entire point is that delays are extremely costly going forward. Progress is relentless.

[xauberer]

has anyone here seen that?

https://bitcointalk.org/index.php?topic=236794.msg2392741

[macintosh]

Ive known they are a scam for the longest time

[yuansuyi]

1J92YCSidYhkYvNmV5NYmv33UZpACsggiG

[bebfoo]

 talked to a BFL customer support rep today and he said all recent orders will likely not ship until September. Seems like a losing game.

[bitbryan]

scary...now shipping. does anyone know how to see an udated list?

[polrpaul]

scary...now shipping. does anyone know how to see an udated list?

Tracking BFL shipped days here:  http://bfl.miningrigstuff.com/

[lollapoloza]

That's a nice link for tracking!

[smoothie]

Over a year and BFL hasn't cleared their back log of orders. I don't think the will for many months to come. This is why you don't take preorders for a product you don't have.

[Cranky4u]

The scenarios below are called a "race to the bottom". This is seen in natural resources with a limited supply, e.g. not renewables. Famous races to the bottom include the nOrth Sea crabbing industry, old hard wood logging, coal and petroleum. As the resource bcomes scarcer more people pile in as the price goes higher. The increased rate of extraction of goods increases the rate of depletion and the price rises due to scarcity. This death spiral goes on until the bootom is hit and the entire sector, plus the industry they feed, dies a horrible death throw as they seek bail outs.

Sorry Floridabear, your math is off.  At $0.15 kw/h power cost, a Single is still profitable to a worthwhile degree even at 900 million difficulty.  It's going to be a bit of time before we see 900 million difficulty, from 19 million now.

You really have to define "a bit of time." I defined it clearly in my post, and my math is not off based on the assumptions I posted. Please don't accuse me of being wrong when I provide all of the assumptions I used for the calculations, unless you've done the math with those assumptions yourself (and you can prove I did them wrong).

My math is correct according to the assumptions I gave and I stand by it. A 50 GH single will only ever produce about 28 BTC ($2800) if delivered in September and my assumptions prove correct.

If you want to argue about 18% increases every retarget being too pessimistic from Sept '13 to March '14 (when all currently available BFL devices become unprofitable at $0.11/KWh) , that's fine, but don't just say "your math is off." However, I don't think 18% is at all unreasonable. When GPUs were rolling out, we saw difficulty go from 19 to 9000 in about 5 months. And that's an order of magnitude greater than the change we're talking about (19M to 900M). If ASICs come on line at that rate, we'll be at 9 billion by February (except that none are profitable there, so it won't happen). But I don't think 900M is unreasonable by Jan 1. Granted we will see some leveling off after that as less efficient ASICs become unprofitable. But if 28 nm products are real and rolling out, they will quickly obsolete everything less efficient. This is a pretty inevitable path we're going down.

My entire point is that delays are extremely costly going forward. Progress is relentless.

[coin_addict]

Thanks for the heads up!

[hany103]

BFL is a big scam even if they shipped.

[sudorayne]

I have been waiting months for my jalepeno. Even if they do ship it by the time i get it 5GH/s wont even be worth it. They should offer to upgrade units for free every month they are delayed. Of course, this wont happen