BFL Preorder Customers are NOT Investors ...see inside

[smoothie]

https://forums.butterflylabs.com/pre-sales-questions/3043-point-were-all-investors.html#post37924

LabRat says it is so.

Logic with BFL is not even apparent anymore whether an employee or shill.

1. I give you money for a product you dont have.

2. You spend months and tons of the money I sent you to develop your product.

3. Once product is FINALLY prototyped you claim I am not an investor despite your actions over the past 12 months of acting as if I am by using my monies to develop your product.

SMH

[k9quaint]

https://forums.butterflylabs.com/pre-sales-questions/3043-point-were-all-investors.html#post37924

LabRat says it is so.

Logic with BFL is not even apparent anymore whether an employee or shill.

1. I give you money for a product you dont have.

2. You spend months and tons of the money I sent you to develop your product.

3. Once product is FINALLY prototyped you claim I am not an investor despite your actions over the past 12 months of acting as if I am by using my monies to develop your product.

SMH

If Sonny was caught soliciting investors it would be a violation of his parole. Therefore there are no investors, only people who gave BFL capital to develop a completely new product line. Weirdly, that might satisfy the law. I'll have to hit up the lawyers in the legal subforum.

[LuckyXIII]

I'm amazed how many people got dollar signs in their eyes and threw money at a company who produces vaporware, run by a known criminal. Personally I would never pay 100% of a products cost upfront for a preorder with no guarantee it will ever show up at my door. I might pay 10% to be put on a list and pay the rest when the unit is ready to be shipped.

My guess is that BFL is mining the crap out of all their machines right now and that they will ship them when the profitability is almost zero. Like other people on this forum have stated, why sell their money printing machines?

[jhansen858]

The butthurt is strong in this thread.

[FCTaiChi]

The butthurt is strong in this thread.

Hm...  I'm not sure you got that meme right.  This thread is very dry, where is the overblown emotional response?

[Slipage]

Maybe at the time you thought you were a investor, now you are not since they will not make any profit.

Bfl played this to the tee to maximise full profit and they have done so legally.
They done care about customer as there hardware won't attract returning customer since it won't make a profit shortly and no resell value . Thy would of made millions and will shut down when all devices won't make profit due to diff.
Smart very smart

[jhansen858]

There is always smaller nm chips.  They gain 2x-4x in speed and performance with each halving of the scale don't they?

That leaves a long line of upgrades to come.

[Operatr]

Anyone who gives BFL money at this point deserves to to be scammed

[paszczakojad]

https://forums.butterflylabs.com/pre-sales-questions/3043-point-were-all-investors.html#post37924

LabRat says it is so.

Logic with BFL is not even apparent anymore whether an employee or shill.

1. I give you money for a product you dont have.

2. You spend months and tons of the money I sent you to develop your product.

3. Once product is FINALLY prototyped you claim I am not an investor despite your actions over the past 12 months of acting as if I am by using my monies to develop your product.

SMH

That looks almost like a classic "societas leonidas" - customers "invest" their money into a new company. They take all the risks - like BTC price crash, company's inability to design a working ASIC, competitors designing ASICs faster and driving difficulty up, etc. In such case company just declares bancruptcy and customers get nothing. In case of a success company owners get all the shares, all the technology, manufacture as many ASICs as they want and "print" as many BTC as they can. Customers get their ordered devices (which are much less profitable than in the beginning) - so that's I call it "almost" a leonine company. Customers take all the risk and a tiny profit, company owners take no risk and most of the profit.

And it's legal!

In one word: Brilliant!

P.