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Author Topic: is butterflylabs a scam?  (Read 1584 times)
Fjordbit
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December 15, 2012, 03:21:02 AM
 #21

@ Kluge ::

Thanks so much for posting that chart!

As a technical analyst, however, I'm inclined to take up a bearish sentiment on mining difficulty based on your chart. It looks like we hit a high and have fallen through longer-term moving averages, indicating that a lot of miners are calling it quits based on present difficulty (it's getting hard for most hobbyists to profit, I hear). But since I can't load those charts in a real trading platform and perform real back-testing and analysis on it, I won't swear by it...I could be wrong.

Your analysis is correct, but it ignores that cheap hashing power by a factor of 60x is about to be released in the next few months.
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joshstandalone
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December 15, 2012, 03:23:49 AM
 #22

ASIC's is going to make 90% bitcoin users to quit bitcoining ...
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December 15, 2012, 04:30:08 AM
 #23

smells like a total scam...
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December 15, 2012, 06:57:03 AM
 #24

I doubt 10% of bitcoin users mine, and those that quit bitcoin because they aren't getting "free money" anymore aren't welcome. Miners live on the transactions of others. The reward is fair because it is needed to keep the network going, but it doesn't add any stability to the currency.
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December 15, 2012, 08:14:42 AM
 #25

Just a thought: What's stopping BFL from mining themselves?

It seemed like a good idea at the time.
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December 15, 2012, 08:19:04 AM
 #26

Just a thought: What's stopping BFL from mining themselves?

Who said they weren't? :-)

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