Daniel Mross paid 2700 BTC to ButterflyLabs in 2012 for 25 Gh/s

[timk225]

I told you all years ago that BFL had the miners.  They used your pre-order money to build them and mine with them, then when the difficulty rose enough to make them non-profitable, they shipped them to the customers.  Then they greased you up with another load of BS about newer bigger better faster miners and pre-order now, and you all did it again!

But ooohhhh nnnooo, no one listened to me.....  And I was right.

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[timk225]

I went on FrostWire and downloaded this Rise and Rise of Bitcoin movie (what, did you think I was going to pay for it?!?!?!  )and it's on my second monitor playing now.  It's ok, but I've learned the history of bitcoin on my own, so it's not telling me much I don't already know.

[Sitarow]

I got into bitcoin mining in 2011 as a way to earn a free 6970 GPU. I used the profit from those coins to buy 4 5970s and subsequently sold thousands of bitcoins for around $2 and an insubstantial profit. It was fun and also necessary for the growth of the currency.

If people weren't spending their bitcoins when they were worth pennies, the currency would have died off and we wouldn't be where we are today.

I agree. Some of us spent considerably more then that amount in btc that would look foolish at today's prices.
Much like gold and silver in the late 1800's.

[smracer]

I wish I would have given BFL only 2700BTC. 

[icem3lter]

Daniel Mross is probably the pizza Guy's brother.
They make such ingenious decisions 

But still this is nothing compared to the pizza guys loss.

[notlist3d]

You can't value Bitcoin like it a few years ago. Now it worths much more. Now you spend 1 BTC for something but in 5 years you probably won't because it will mean a lot of money. So I don't really think those guys did something wrong spending so many coins at once.

Trusting BFL was a mistake, granted there was no way to know this back then.  But anyone with BFL pretty much lost that is almost 100 percent.  Delay's and lies just made them a bad bet.

And it is true he did not do it wrong.  He just made a bad investment.   We can see that now but again back then hard to see.  Easy to arm chair quarterback it at this point.   

But one who held that instead of spending now would be worth quite a bit to say the least.

[paradoxum]

So very few hardware manufacturers in the Bitcoin ever delivered more wealth to their clients despite making grandiose claims.  BFL was probably the biggest loudmouth of them all.

[RoseMann]

So very few hardware manufacturers in the Bitcoin ever delivered more wealth to their clients despite making grandiose claims.  BFL was probably the biggest loudmouth of them all.

The only mass production hardware manufacturers are Bitmain, Avalon, KNC and BitFury. Bitmain is the best.

[DrG]

So very few hardware manufacturers in the Bitcoin ever delivered more wealth to their clients despite making grandiose claims.  BFL was probably the biggest loudmouth of them all.

The only mass production hardware manufacturers are Bitmain, Avalon, KNC and BitFury. Bitmain is the best.

I think he/she was referring to past manufacturers (see title of thread). It seems even in the 4 you listed the opinions have swayed very far.  Avalon was loved until Yifu cheated everybody.  KNC was loved after their first/second batch and then went to hated.

[notlist3d]

So very few hardware manufacturers in the Bitcoin ever delivered more wealth to their clients despite making grandiose claims.  BFL was probably the biggest loudmouth of them all.

The only mass production hardware manufacturers are Bitmain, Avalon, KNC and BitFury. Bitmain is the best.

I think he/she was referring to past manufacturers (see title of thread). It seems even in the 4 you listed the opinions have swayed very far.  Avalon was loved until Yifu cheated everybody.  KNC was loved after their first/second batch and then went to hated.

Avalon is kinda hard as if were talking about past it's a different company things such as Yifu.   If were talking about current it's considered "Canaan-Creative" but almost everyone still calls it Avalon.  I never dealt with the company during the Yifu times (luckily).  I have only dealt with the current one.

Another big one I dont see mentioned was asicminer.  I mean they were the game for a while with block erupters, then blades, then that box.  And now they are nothing.   Who would have guessed that when they number 1 for so long.

[Exoskeleton]

So very few hardware manufacturers in the Bitcoin ever delivered more wealth to their clients despite making grandiose claims.  BFL was probably the biggest loudmouth of them all.

The only mass production hardware manufacturers are Bitmain, Avalon, KNC and BitFury. Bitmain is the best.

I think he/she was referring to past manufacturers (see title of thread). It seems even in the 4 you listed the opinions have swayed very far.  Avalon was loved until Yifu cheated everybody.  KNC was loved after their first/second batch and then went to hated.

Avalon is kinda hard as if were talking about past it's a different company things such as Yifu.   If were talking about current it's considered "Canaan-Creative" but almost everyone still calls it Avalon.  I never dealt with the company during the Yifu times (luckily).  I have only dealt with the current one.

Another big one I dont see mentioned was asicminer.  I mean they were the game for a while with block erupters, then blades, then that box.  And now they are nothing.   Who would have guessed that when they number 1 for so long.

As far as I am concerned "Yifu" was nothing more than a fall guy. Avalon was always determined to make as much as possible through whatever means possible, customers be damned. I was one of the many hundreds who got scammed by Avalon back in 2012/2013 and I personally refuse to forgive them. I don't care who they say they are run by or what they changed their name to.

The only reason I suspect they are doing better business now is that they have so much money from cheating people in 2012/2013 that they no longer find that route profitable.

[nichu]

really feeling bad for Daniel, who would have ever thought about the price rise , only god could have predicted that  , in the context he never lost anything , but hypothetically he lost a fortune 

[barrysty1e]

Satoshi himself built several FPGA units.

[Entropize]

I imagine it's really difficult to to put yourself in this guys shoes now that difficulty is so high and pool mining is the only viable option for home miners, but back in the days of cpu mining you'd hit a block of 50 every couple of weeks and eventually be sitting there like "hmmm, I've got 600 bitcoin.... where the hell do I spend them?" there were very few places to turn your bitcoin into actual stuff. I remember dropping 10 bitcoin on a carabiner just to have a physical object I conjured from the ether. Later silk road and some other places offered more options but I mostly spent my coin on new video cards or mining hardware.

I don't feel bad for Daniel at all because if he spent 2700, I can almost guarantee that he had a few more thousand in his wallet. If he didn't sell during the last spike I hope he does on the next one (and I hope that it's soon).