Butterflylabs Huge SCAM

[scambutterflylabs]

Made a couple of phone calls this morning.  I was informed about this website and told that they would likely be very interested in hearing about BF Labs story.

Don't be shy fellows, they accept third party submissions.  Let the IC3 determine if no refunds is legal or not...


http://www.ic3.gov/default.aspx

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[pickitlickit]

I think the preorder is just a bad investment not a scam.  I waited 6 months, asked for my money back only one time, and I was given a full refund no problem.  I think alot of the people that are mad are mad because they counted their chickens before their eggs hatched.

[molecular]

i ordered my product from butterflylabs like 2months ago sitll nothing i agree this company is nothing but a scam

lol, I ordered 11 months and 2 weeks ago. nothing. not a scam though (yet), just incompetence.

[Kouye]

lol, I ordered 11 months and 2 weeks ago. nothing. not a scam though (yet), just incompetence.

Haha... You really think the money you gave them 11 months and 2 weeks ago is still untouched ?
That's cute.

(And if think they used that money to cover any fee... Then it's a scam, plain and simple, no possible argument.)

[elgreco]

i ordered my product from butterflylabs like 2months ago sitll nothing i agree this company is nothing but a scam

Ha! Think two months is long? I ordered an SC on June 26th, 2012 and just received it last Friday. 381 days. It will likely NEVER make me back the 120 BTC it cost me.

[BBazaar]

Look, Butterfly Labs is a scam.  There is no other way to put it, unless you were one of the first few who received their orders.  Let's be clear on a few points.

- Butterfly continued to accept preorders when they could not fulfill them or have a reasonable basis for delivery (this violates all FTC regulations)
- Butterfly is continuing to ship units at whatever rate they can.  Realistically, they are barely fulfilling preorders that are up to a year or older
- Butterfly is now refusing refunds.  That's right, if you placed an order you cannot get a refund.  The reasoning that Butterfly uses is that "all sales are final" and "orders are shipping". Let's get something straight.  If an order isn't in your hands or actually in the process of assembly and shipping, the sale is no where near "final" and every customer is entitled to a refund.  If you ordered in May, you will not receive your unit until sometime near December.  There is no excuse as to why that order can't be refunded, end of story.

Last but not least, no respectable company, especially one looking to make a name for themselves in a virgin industry, would conduct business like Butterfly.  Being represented by folks like Josh is disgraceful, if one of my employees acted in that capacity he would be fired on the spot.  The customer is always first.

[BBazaar]

i ordered my product from butterflylabs like 2months ago sitll nothing i agree this company is nothing but a scam

Ha! Think two months is long? I ordered an SC on June 26th, 2012 and just received it last Friday. 381 days. It will likely NEVER make me back the 120 BTC it cost me.

Congrats on receiving your order at least.  Once you take into account the currency growth you could have had as well as the missed time mining... definitely a painful transaction.

Now the flipside?  If Bfly took your 120BTC on June 26th, and assume they didn't order the parts for the unit you received recently until April when they finally cashed in your coins, then they were worth $24,000.  I'd say it's pretty obvious they benefited from the delays while you suffered.

[Inaba]

Hey, hindsight is a great way to invest.  Since you're so good at hindsight investing BBazaar, can you tell me how many billions of dollars you have made?  Oh, what's that?  You're just a poor slob without any sort of connection to reality?  Sorry... from the way you were talking, it sounded like you had cracked the secret of predicting the market with 100% accuracy.

If you knew the bitcoin price was going to go up last year, why didn't you put hundreds of thousands of dollars into bitcoin at that time?  That's right, because you didn't know... no one *knew*.  So unless you've perfected time travel, you should probably move along.

[SgtSpike]

i ordered my product from butterflylabs like 2months ago sitll nothing i agree this company is nothing but a scam

Ha! Think two months is long? I ordered an SC on June 26th, 2012 and just received it last Friday. 381 days. It will likely NEVER make me back the 120 BTC it cost me.

If that's what you think, you should sell it to someone for 150 BTC!  That's the going rate I hear...

EDIT:  BTW, received my singles today, they are happily hashing away! 

[firefop]

i ordered my product from butterflylabs like 2months ago sitll nothing i agree this company is nothing but a scam

Ha! Think two months is long? I ordered an SC on June 26th, 2012 and just received it last Friday. 381 days. It will likely NEVER make me back the 120 BTC it cost me.

If that's what you think, you should sell it to someone for 150 BTC!  That's the going rate I hear...

EDIT:  BTW, received my singles today, they are happily hashing away! 

Sigh - I'm still 2 weeks away from mine - but expecting upgrade email any day now!

[charleshoskinson]

Hey, hindsight is a great way to invest.  Since you're so good at hindsight investing BBazaar, can you tell me how many billions of dollars you have made?  Oh, what's that?  You're just a poor slob without any sort of connection to reality?  Sorry... from the way you were talking, it sounded like you had cracked the secret of predicting the market with 100% accuracy.

If you knew the bitcoin price was going to go up last year, why didn't you put hundreds of thousands of dollars into bitcoin at that time?  That's right, because you didn't know... no one *knew*.  So unless you've perfected time travel, you should probably move along.

Why the hell are you still posting here? Come on man, get back to peddling your substandard product.

[molecular]

lol, I ordered 11 months and 2 weeks ago. nothing. not a scam though (yet), just incompetence.

Haha... You really think the money you gave them 11 months and 2 weeks ago is still untouched ?
That's cute.

I didn't say that.

[molecular]

i ordered my product from butterflylabs like 2months ago sitll nothing i agree this company is nothing but a scam

Ha! Think two months is long? I ordered an SC on June 26th, 2012 and just received it last Friday. 381 days. It will likely NEVER make me back the 120 BTC it cost me.

you payed in fiat using BTC. BTC was like $5 back then.

[tomaszsz]

BFL  lies, and again and again
 
http://imgur.com/a/Tvjc6
 
and now they blocked  forums.butterflylabs.com   no more user can register ... 

why no one has not sued BFL ? This is a multi-million dollar fraud, thousands of users have been  deceived !! and still nothing

where is famous for justice in the U.S.?

instead hardware, another lies

[BBazaar]

Hey, hindsight is a great way to invest.  Since you're so good at hindsight investing BBazaar, can you tell me how many billions of dollars you have made?  Oh, what's that?  You're just a poor slob without any sort of connection to reality?  Sorry... from the way you were talking, it sounded like you had cracked the secret of predicting the market with 100% accuracy.

If you knew the bitcoin price was going to go up last year, why didn't you put hundreds of thousands of dollars into bitcoin at that time?  That's right, because you didn't know... no one *knew*.  So unless you've perfected time travel, you should probably move along.

Amazing to me that you are even trying to defend your position.  What position Inaba?  So you think you're company has conducted business in the most ethical and prudent of manners? You took preorders when you knew they could be filled in a timely manner? You refunded preorders when asked? Maintained transparency? Under promised and over delivered?

I tell you what hindsight is good for, correcting all your company's blatant mistakes.  You don't come back at customers and slander them with insults when they have been wronged by your company's practices.  I'm interested in knowing what the vision is for Butterfly, what type of company are you trying to build?

Here is a suggestion.  Do some damage control.  What you have done to your customers is a disservice, why not come to terms with it and make some amends?  In this world every mistake you make will be amplified to the tenth degree and the best thing you can do is mitigate the damage.  You parade about like a child bashing everyone who disagrees with your almighty opinion.  Time to get humble.

Oh and you know what else hindsight is good for? Regretting ever having purchased a product from your company.  I've waited two months and I'll be waiting another 6 months or more.  Butterfly has refused refunds before the product I ordered even shipped 1 unit, and none since. 

The truth is, I wouldn't recommend Butterfly to anyone I know.

[MikeCryptoIndustries]

I for one am pretty certain they were mining on their devices before release..... Poor customer service. The fact hash rates didnt increase straight off means nothing, if they were clever they would be mining in a tiered setup

[Inaba]

Amazing to me that you are even trying to defend your position.  What position Inaba?  So you think you're company has conducted business in the most ethical and prudent of manners? You took preorders when you knew they could be filled in a timely manner? You refunded preorders when asked? Maintained transparency? Under promised and over delivered?

Yes, BFL has conducted business ethically and as prudently as possible.  Believe it or not, whiney little babies have no connection to reality aren't the norm in the business world.  Go whine to AMD or Intel or another tech company when they are late delivering your product, see how far it gets you.  

As far as taking preorders when we knew they could be delivered in a timely manner, I assume you meant "knew they couldn't" (if not, please correct me), but we did not know.  That is the point.  

Yes, we refunded preorders when asked, is your implication that we didn't?  
We are the most transparent ASIC company shipping products.  We are also far, far more transparent than pretty much any other tech company out there.
Under promised and over delivered?  I assume you are implying that we didn't.  Guilty as charged and I've already apologized numerous times.

You parade about like a child bashing everyone who disagrees with your almighty opinion.

Nope, only those that make up falsehoods and outright lies.  You are welcome to disagree as long as you stick to the truth.  Try it - stick to the truth when disagreeing with me and see if you get bashed.  Hasn't happened yet. (You've already failed this round, looks like, see if you can make your next post contain nothing but factual information.)

[greenbtc]

Amazing to me that you are even trying to defend your position.  What position Inaba?  So you think you're company has conducted business in the most ethical and prudent of manners? You took preorders when you knew they could be filled in a timely manner? You refunded preorders when asked? Maintained transparency? Under promised and over delivered?

Yes, BFL has conducted business ethically and as prudently as possible.  Believe it or not, whiney little babies have no connection to reality aren't the norm in the business world.  Go whine to AMD or Intel or another tech company when they are late delivering your product, see how far it gets you.  

As far as taking preorders when we knew they could be delivered in a timely manner, I assume you meant "knew they couldn't" (if not, please correct me), but we did not know.  That is the point.  

Yes, we refunded preorders when asked, is your implication that we didn't?  
We are the most transparent ASIC company shipping products.  We are also far, far more transparent than pretty much any other tech company out there.
Under promised and over delivered?  I assume you are implying that we didn't.  Guilty as charged and I've already apologized numerous times.

You parade about like a child bashing everyone who disagrees with your almighty opinion.

Nope, only those that make up falsehoods and outright lies.  You are welcome to disagree as long as you stick to the truth.  Try it - stick to the truth when disagreeing with me and see if you get bashed.  Hasn't happened yet. (You've already failed this round, looks like, see if you can make your next post contain nothing but factual information.)

I have requested a refund three times now, and only got one answer refusing the refund thus far (stating that because you are now "shipping" you will not refund orders...you certainly aren't shipping). My other two emails, even polite, have gone unanswered for days/weeks...so right now you're representing your company by lying. Pro.

[sidhujag]

why dont you post the email with that response and see what inaba has to say about it. If he screws off you know and have proof to never take him or her seriously. Easiest way to bring truth start with facts.

[Moneymaker1990]

Amazing to me that you are even trying to defend your position.  What position Inaba?  So you think you're company has conducted business in the most ethical and prudent of manners? You took preorders when you knew they could be filled in a timely manner? You refunded preorders when asked? Maintained transparency? Under promised and over delivered?

Yes, BFL has conducted business ethically and as prudently as possible.  Believe it or not, whiney little babies have no connection to reality aren't the norm in the business world.  Go whine to AMD or Intel or another tech company when they are late delivering your product, see how far it gets you.  

As far as taking preorders when we knew they could be delivered in a timely manner, I assume you meant "knew they couldn't" (if not, please correct me), but we did not know.  That is the point.  

Yes, we refunded preorders when asked, is your implication that we didn't?  
We are the most transparent ASIC company shipping products.  We are also far, far more transparent than pretty much any other tech company out there.
Under promised and over delivered?  I assume you are implying that we didn't.  Guilty as charged and I've already apologized numerous times.

You parade about like a child bashing everyone who disagrees with your almighty opinion.

Nope, only those that make up falsehoods and outright lies.  You are welcome to disagree as long as you stick to the truth.  Try it - stick to the truth when disagreeing with me and see if you get bashed.  Hasn't happened yet. (You've already failed this round, looks like, see if you can make your next post contain nothing but factual information.)

Really?

Ha.  HAHA.  HAHAHAHAHA.

stfu clown.  You dont take preorders, promise people a delivery date, miss that date numerous times, lie to your customers and say 2 weeks, then say 2 months, and still not deliver.