Sonny Vleisides' finally sticking it up his investors' asses!

[cdog]

I dont know if its going to be a BTC price collapse, lawsuit, some local prosecutor, The Feds, or some batshit crazy preorder holder who cant take it anymore and goes postal at the BFL offices, but something tells me BFL might not be around much longer.

Actually, Im really rooting for them, because it would be terrible for BTC if they went down with 85% preorders unfilled. Disaster.

[Flying Hellfish]

Actually, Im really rooting for them, because it would be terrible for BTC if they went down with 85% preorders unfilled. Disaster.

Meh if they go down it will be lots of short term pain for a lot more long term gain IMO.  Disaster for a bunch of miners, ya probably, disaster for BTC, not a chance in hell!

[kendog77]

Actually, Im really rooting for them, because it would be terrible for BTC if they went down with 85% preorders unfilled. Disaster.

Meh if they go down it will be lots of short term pain for a lot more long term gain IMO.  Disaster for a bunch of miners, ya probably, disaster for BTC, not a chance in hell!

Agreed. It will be a disaster for anyone who had a undelivered pre-order from them, but it will be good for other miners because it will keep the network hashrate down.

[smoothie]

http://www.cryptocoinsnews.com/2013/06/30/butterfly-labs-crumbles-getting-mass-refund-requests-units-catching-fire-and-fans-failing/

Hence no UL listed or FCC certifications. The fuckin' machines won't pass! What next, a unit catches fire in a Bitcoiner's dorm killing several people? Or a unit catching fire in somebody's home killing an infant?

Not a single principal at BFL will be able to claim that they weren't aware, for I've personally stuck this issue up their asses no less than two dozen times.

BFL's holier then thou attitude is about to nip them in their asses.

Wow. Just wow....wait. I already predicted much of this many months ago.

See I can thank BFL for one thing and that is taking pre-orders with no completed product = epic fail. I learned a lesson at no cost to me.

 

[MPOE-PR]

There are also laws about "selling things you do not own", under the false pretense of, "ownership". (Thus, presales of un-owned property, which demands retainers for accounts, before you can accept any level of income from a "sale" of the "presale". EG, you can only oversell a certain amount, and must maintain enough within an account to refund or return a certain amount, in the event of failure or legal litigation.)

There is also the issue of accepting a valued trade, without reporting the value of the trade, or records of the trades, to be used for an exchange of goods or services. (Reporting BTC-value-earnings, which is done quarterly for a business, to be taxed as income.)

You know all this is kind of old news.

The rest of the stuff is pretty much nonsense, BTC price is not miner-driven in any sense. There's some impact, but I guess pretty much everyone fails to appreciate exactly how small a slice of BTC mining is. Think a tenth to a quarter. Not all, not a majority.

[YipYip]

Actually, Im really rooting for them, because it would be terrible for BTC if they went down with 85% preorders unfilled. Disaster.

Meh if they go down it will be lots of short term pain for a lot more long term gain IMO.  Disaster for a bunch of miners, ya probably, disaster for BTC, not a chance in hell!

I totally agree

BFL are the problem holding the crypto community back !!!!

As long as they are around we will not move forward !!

[smoothie]

Actually, Im really rooting for them, because it would be terrible for BTC if they went down with 85% preorders unfilled. Disaster.

Meh if they go down it will be lots of short term pain for a lot more long term gain IMO.  Disaster for a bunch of miners, ya probably, disaster for BTC, not a chance in hell!

I totally agree

BFL are the problem holding the crypto community back !!!!

As long as they are around we will not move forward !!

Soon they will be irrelevant. Market forces will kick them out of the market if the keep their actions up like for the past year.

[PuertoLibre]

Looks like a lot of people have been scammed.

Lucky for us they will all be hanged out to dry.

The Bitcoin community salutes their efforts at choosing the wrong people to do business with. (In my Opinion?)

Unfortunately, BFL will help clean people out (IMO) and keep them from buying up more ASICs. We owe BFL a debt of gratitude. I only feel sorry for those that do end up losing their money. Because they have kids and families. But these customers cannot say that they weren't warned about alot of it.

If they stayed in, they gambled and lost. One way or the other. (Again IMO)

[PuertoLibre]

BFL did not state, "The money you are sending us is an INVESTMENT, with risk." Thus, it is a "product", and a "product that accepted USD or paypal or cc agreements". Those agreements, even when it clearly states, "no refunds", are the final word in any legal court. To even accept paypal, or a cc, you AGREE as a recipient of funds.... to offer a "reasonable return policy", and "adhere to all US laws". Which includes "returns", and deals with, "failure to deliver in a reasonable time", and also deals with what must be said if it is "a high-risk investment", as opposed to a "sale of an item".

There are also laws about "selling things you do not own", under the false pretense of, "ownership". (Thus, presales of un-owned property, which demands retainers for accounts, before you can accept any level of income from a "sale" of the "presale". EG, you can only oversell a certain amount, and must maintain enough within an account to refund or return a certain amount, in the event of failure or legal litigation.)

There is also the issue of accepting a valued trade, without reporting the value of the trade, or records of the trades, to be used for an exchange of goods or services. (Reporting BTC-value-earnings, which is done quarterly for a business, to be taxed as income.)

However, all is not lost... The price of BTC will rise again, once the "easy miners" have gotten enough debt, and can no longer settle for less. Eg, once they are no longer willing to accept less USD for the BTC they have earned. But they can still make money selling as low as $10 so don't expect the price to stop dropping at $50... They want that money more than you, even at $10-$20, per BTC. They can afford it, they make the machines that you are paying for, and taking your earnings before you can ever earn them, to cash those in too.

As if you didn't see this coming. Denial is a bitch! Join AA (Asics Anonymous)

I recall seeing a thread on BFL forums where someone stated that if you have a unfulfilled order for more than 1 year (365 days) that you then legally become an investor.

If this is the case, then there are already several investors out there in from the very first orders. Investors are supposed to get compensation of some kind. (no I am not joking)

[PuertoLibre]

I can confirm i got the same bullshit email from BFL.

I ordered a couple of 30gh/s machines in February, they have not even shipped a single one of those, they have not even finished redesigning it...

I asked politely for my refund and was told no.

Maybe i just need to call Inaba a cunt in public, in order to get a refund...

You stand corrected,my 30GH unit shipped yesterday,FINALLY    After 1 year & 5 days 

Now I'm just waiting to see if my $129 for shipping makes it a next day delivery or just lined thier pockets.....................

You probably qualify as an investor.

[PuertoLibre]

http://www.cryptocoinsnews.com/2013/06/30/butterfly-labs-crumbles-getting-mass-refund-requests-units-catching-fire-and-fans-failing/

I presumed this would happen. I wrote about this possibility quite some time ago.



Source: http://www.cryptocoinsnews.com/2013/06/30/butterfly-labs-crumbles-getting-mass-refund-requests-units-catching-fire-and-fans-failing/

I had joked about fires, but I never really though that would happen. Anyone have any links to such incidents? I have read about fan failures, poor ventilation, overheating and throttling issues....possibly white smoke....but not yet of fire?

Did I miss such incidents? (I stopped reading alot on BFL forums!)

[PuertoLibre]

http://www.cryptocoinsnews.com/2013/06/30/butterfly-labs-crumbles-getting-mass-refund-requests-units-catching-fire-and-fans-failing/

Hence no UL listed or FCC certifications. The fuckin' machines won't pass! What next, a unit catches fire in a Bitcoiner's dorm killing several people? Or a unit catching fire in somebody's home killing an infant?

Not a single principal at BFL will be able to claim that they weren't aware, for I've personally stuck this issue up their asses no less than two dozen times.

BFL's holier then thou attitude is about to nip them in their asses.

"I am pretty sure (I am joking), that somewhere in the fine print it says to keep the units away from combustible objects, people and/or buildings."

[Bicknellski]

There are also laws about "selling things you do not own", under the false pretense of, "ownership". (Thus, presales of un-owned property, which demands retainers for accounts, before you can accept any level of income from a "sale" of the "presale". EG, you can only oversell a certain amount, and must maintain enough within an account to refund or return a certain amount, in the event of failure or legal litigation.)

There is also the issue of accepting a valued trade, without reporting the value of the trade, or records of the trades, to be used for an exchange of goods or services. (Reporting BTC-value-earnings, which is done quarterly for a business, to be taxed as income.)

You know all this is kind of old news.

The rest of the stuff is pretty much nonsense, BTC price is not miner-driven in any sense. There's some impact, but I guess pretty much everyone fails to appreciate exactly how small a slice of BTC mining is. Think a tenth to a quarter. Not all, not a majority.

And more generally, a notice to all the scumbags circling BTC : I don’t care that you’re poor, I don’t care if you’re desperate, I don’t care if you’re ‘Ndrangheta or the Gambinos or the Bonanos or the Russians or whoever the fuck else. Pack it and move. This is your only warning, and quite frankly I have no ideea why warnings are even necessary. Bitcoin is not for idiots. That means you. Sambata, 12 Ianuarie, Anul 5 d.Tr. | Autor: Mircea Popescu

[polarhei]

Looks like a lot of people have been scammed.

I think so as the company uses statistical tricks to fool many people while they do slowly to mask the actual operations we do not know. Perhaps the profit is tripled already.

[Unacceptable]

I can confirm i got the same bullshit email from BFL.

I ordered a couple of 30gh/s machines in February, they have not even shipped a single one of those, they have not even finished redesigning it...

I asked politely for my refund and was told no.

Maybe i just need to call Inaba a cunt in public, in order to get a refund...

You stand corrected,my 30GH unit shipped yesterday,FINALLY    After 1 year & 5 days 

Now I'm just waiting to see if my $129 for shipping makes it a next day delivery or just lined thier pockets.....................

You probably qualify as an investor.

Oh HELL NO ,I'd be damned if I want to go thru this crap again & again as an investor with these guys 

I'd have to wait two or three times as long to get my "dividends",seeing as I'm not "family" 

[cdog]

Actually, Im really rooting for them, because it would be terrible for BTC if they went down with 85% preorders unfilled. Disaster.

Meh if they go down it will be lots of short term pain for a lot more long term gain IMO.  Disaster for a bunch of miners, ya probably, disaster for BTC, not a chance in hell!

Well, I actually am one of those who thinks ASIC is good for BTC, because a sky high hashrate means the network is virtually impenetrable to attack. Which means our coins are safe. Which means the price will go up.

However, I also think that the ASIC market needs to be competitive to thrive, and BFL definitely has some very competitive products in terms of price/performance, and products which anyone can buy, like the Jalapeno.

If BFL were to go down with 85% unfulfilled, yes BTC would survive and come out fine over time, but I think it would be very bad PR short term. BTC already has enough negative associations with scamming and scummy ripoffs, I want to see the legit ones thrive, so Im rooting for BFL.

If there was a Jalapeno in every town in America, Europe, and China, BTC price would explode, because everyone would be talking about have their "piece of the pie," and right now we need positive PR and more awareness of BTC so that more business accept it.

[MPOE-PR]

Soon they will be irrelevant. Market forces will kick them out of the market if the keep their actions up like for the past year.

Yeah, sort of like MtGox: just as soon as the bag holders run out of funds/patience.

[Bicknellski]

Soon they will be irrelevant. Market forces will kick them out of the market if the keep their actions up like for the past year.

Yeah, sort of like MtGox: just as soon as the bag holders run out of funds/patience.

You said "bag holders" , snicker... snicker. 

[Red_Wolf_2]

Weird, my antivirus picked up malicious content on http://www.cryptocoinsnews.com/2013/06/30/butterfly-labs-crumbles-getting-mass-refund-requests-units-catching-fire-and-fans-failing/
Managed to get the gist of it through good old lynx on a VM. Looks like a giant load of FUD to me. So, which of you anti-bfl shills posted that one?
If they were about to go under, they wouldn't be shipping units. There would suddenly be no supply of chips or boards or whatever, and people would get either no tracking data, or fake tracking IDs.

Seriously? I'm actually disappointed I took the time to read that page, given it seemingly has something that upsets my virus scanner on it. (Might be a dodgy adbar or something, who knows)

[Flashman]

I wonder if these intrepid scam busters do target shooting like they do scambusting... drive round the countryside firing at barns, and if they hit one, draw a bullseye around the hole.