Be aware of Butterfly Labs Miners

[frostwind]

Based on how the ASIC miners are coming online by the thousands, and the fact that difficulty have been increasing at a steady rate of 1.26% since beginning of year, there's no reason to think that the rate of difficulty increase will ease soon over the next few months.

Meaning if you buy a ASIC miner that have no other use than mining BTCs:
70% of profit is mined in the first 3 months!!!!
97% of BTC is mined in the first 9 months!!!!!!!!!!

The economics of buying ASIC miners from Butterfly Labs makes no sense.  Considering that:
- They are extremely slow in shipping, 2 months or more meaning a year or 10.  They are still trying to ship the June 23rd order from LAST YEAR
- No refunds, all payment upfront.

While they are busy using the rigs to "burn in testing", they are getting a lot of BTCs for themselves for sure while their customers are waiting for them to ship.  So if they delay the order by 6 months or so, they would have earned 90% of the profit themselves.  By the time their customers receive their last gen order, it'll be obsolete because their little 5GH/s unit cannot compete with new 500 GH/s or 1TH/s ASICs.

Furthermore there's no data on power consumption, meaning that the power consumption is likely very significant.

So stay away from ButterflyLabs and don't be the fish biting their hook!

[crazyates]

BLAH BLAH BLARGH I HAVE NO IDEA WHAT I'M TALKING ABOUT

Soo... few questions:

Who's sock puppet are you?
If not BFL, then who? (Oh wait, almost everyone else selling ASICs is selling pre-order too? Almost everyone else is refusing refunds too? Damn.)
BFL is not mining on customer equipment. This has been gone over dozens of times.
There is tons of data on power consumption, both at the chip level, and for full miners. Jalapeno: 35-40W. Single: 240-260W. MiniRig: 2350-2400W ...what rock have you been under?

[ElitePork]

2 post and Jr Member. 

But still, my 2 cents worth.
the ASIC ain't just for BTCs, but for altscoins with SHA256 (tested and proven personally)

BFL are not mining on any pool but is doing on a 24hour stress test (not sure whether it's local or testnet. saw the post somewhere by Josh)

Personally, the power adapter for my jallies are stated as 13V, 6A for output so I'm assuming it's a max of 78W but there are proof of screenshots at a max of 48W. Wait till i got hands on Kill-A-Watt

[crazyates]

Personally, the power adapter for my jallies are stated as 13V, 6A for output so I'm assuming it's a max of 78W but there are proof of screenshots at a max of 48W. Wait till i got hands on Kill-A-Watt

I speak from experience when I say my Kill-a-watt measured the Jallys at ~35W, and the SC Singles at 260W.

[goxed]

the ASIC ain't just for BTCs, but for altscoins with SHA256 (tested and proven personally)

Which altcoins do you suggest?

[ElitePork]

I speak from experience when I say my Kill-a-watt measured the Jallys at ~35W, and the SC Singles at 260W.

Nice. I should have bought another 4 jallies back in the days. 

Which altcoins do you suggest?

The ones that I currently working on are TRC and PPC. You can check the profitability between different altcoins here
http://www.coinwarz.com/cryptocurrency

[goxed]

I speak from experience when I say my Kill-a-watt measured the Jallys at ~35W, and the SC Singles at 260W.

Nice. I should have bought another 4 jallies back in the days. 

Which altcoins do you suggest?

The ones that I currently working on are TRC and PPC. You can check the profitability between different altcoins here
http://www.coinwarz.com/cryptocurrency

Thanks

[mantler]

BLAH BLAH BLARGH I HAVE NO IDEA WHAT I'M TALKING ABOUT

Soo... few questions:

Who's sock puppet are you?
If not BFL, then who? (Oh wait, almost everyone else selling ASICs is selling pre-order too? Almost everyone else is refusing refunds too? Damn.)
BFL is not mining on customer equipment. This has been gone over dozens of times.
There is tons of data on power consumption, both at the chip level, and for full miners. Jalapeno: 35-40W. Single: 240-260W. MiniRig: 2350-2400W ...what rock have you been under?

Your an idiot.  BFL is obviously a scam, working units or not, they are using them to mine with, they have barely done a month of preorders yet.  They have been telling lies to everyone who asks them when they will get their order, so that they will pre-order, and then they mine with your unit.  They are a Mickey Mouse company, run by a criminal, and everyone who ordered later than the first month will wish they never ordered.

[thehairymob]

Orders of Jally's are filled up to the 24th September 2012. Orders for larger units are still sitting at the 23rd June 2012. You should have done a little research before posting it would have made you look more credible.

[Zanatos666]

Personally, the power adapter for my jallies are stated as 13V, 6A for output so I'm assuming it's a max of 78W but there are proof of screenshots at a max of 48W. Wait till i got hands on Kill-A-Watt

I speak from experience when I say my Kill-a-watt measured the Jallys at ~35W, and the SC Singles at 260W.

Cant remember seeing if you posted it, but did you flash your Jala?  I did mine, but i never measured the increased in consumption and have been too lazy to unplug it and test.

[snootch]

Holee crap.  Dead horse. beaten. repeatedly. It never ceases to amaze me when folks jump behind the keyboard and type a bunch of opinionated shit without reading one iota of fact first.

[Inaba]

What's funny about these posts is, you can replace "ASIC" with "GPU" and they are the exact same posts people were making when GPUs first started coming online.  They repeatedly swore that GPUs are unprofitable to mine with after the first month or two and no one should invest in new GPUS rigs.  Buying GPUs, according to them, would never make a return on your investment.  I bought 40. They paid for themselves several times over within a few months.  Two years later GPUs are still marginally profitable and anyone who invested in them made bank and many are still making profit.  However, the GPU days are coming to an end.  The ASIC days, on the other hand, are just getting started.
 

Just one example: https://bitcointalk.org/index.php?topic=52741.msg630015#msg630015

You can find plenty more if your dredge the Hardware forum

[crazyates]

Personally, the power adapter for my jallies are stated as 13V, 6A for output so I'm assuming it's a max of 78W but there are proof of screenshots at a max of 48W. Wait till i got hands on Kill-A-Watt

I speak from experience when I say my Kill-a-watt measured the Jallys at ~35W, and the SC Singles at 260W.

Cant remember seeing if you posted it, but did you flash your Jala?  I did mine, but i never measured the increased in consumption and have been too lazy to unplug it and test.

I didn't, but from what I've heard flashing your Jala bumps it up from ~35W to ~45W. Still not bad.

[salfter]

The economics of buying ASIC miners from Butterfly Labs makes no sense.  Considering that:
- They are extremely slow in shipping, 2 months or more meaning a year or 10.  They are still trying to ship the June 23rd order from LAST YEAR
- No refunds, all payment upfront.

While they are busy using the rigs to "burn in testing", they are getting a lot of BTCs for themselves for sure while their customers are waiting for them to ship.  So if they delay the order by 6 months or so, they would have earned 90% of the profit themselves.  By the time their customers receive their last gen order, it'll be obsolete because their little 5GH/s unit cannot compete with new 500 GH/s or 1TH/s ASICs.

Furthermore there's no data on power consumption, meaning that the power consumption is likely very significant.

So stay away from ButterflyLabs and don't be the fish biting their hook!

Frizz23...is that you?

Meanwhile, my two Jalapeños (ordered toward the end of August) have already made over BTC4 in the three weeks or so I've had them.  Even with the recent decline in the value of Bitcoin, they've already paid for themselves. 

As for power consumption, I give you this.  It is more than they predicted.  That it is more than they predicted has been known for a few months already.

[crazyates]

Frizz23...is that you?

Meanwhile, my two Jalapeños (ordered toward the end of August) have already made over BTC4 in the three weeks or so I've had them.  Even with the recent decline in the value of Bitcoin, they've already paid for themselves. 

As for power consumption, I give you this.  It is more than they predicted.  That it is more than they predicted has been known for a few months already.

Link doesn't seem to be working. Try THIS ONE.

[SolarSilver]

However, the GPU days are coming to an end.  The ASIC days, on the other hand, are just getting started.

GPU days are long gone. You are an idiot posting otherwize.

The golden ASIC days are over too. Stop trying to scam people into keeping faith in getting any profit of their late delivered ASICs. There will be only tears and over due power bills.

Just one example:



Batch #1 Avalons made a killing. Batch #2 Avalons (you know, when you started shipping a few units / day) will brake even.

The only reason the graph is not slumping down completely is because Avalon users figured out how to get a 20% increase in GH/s due to overclocking (with an increase of power consumption of course). Can BFL users get an equivalen boost of their revenue with the current flaky equipment?

Anything after August will just evaporate in hyperdifficulty (I'm coining that term after hyperinflation)



Anybody receiving equipment in August or later is going to be completely out of any kind of profit

There is no 60% resell value for an ASIC (unlike GPUs) unless you can find a bigger idiot than you (which seems to be today's business plan for most delusional investors)

Stop blowing that good news trumpet. You know where you can shove it

[dan99]

What's funny about these posts is, you can replace "ASIC" with "GPU" and they are the exact same posts people were making when GPUs first started coming online.  They repeatedly swore that GPUs are unprofitable to mine with after the first month or two and no one should invest in new GPUS rigs.  Buying GPUs, according to them, would never make a return on your investment.  I bought 40. They paid for themselves several times over within a few months.  Two years later GPUs are still marginally profitable and anyone who invested in them made bank and many are still making profit.  However, the GPU days are coming to an end.  The ASIC days, on the other hand, are just getting started.
 

Just one example: https://bitcointalk.org/index.php?topic=52741.msg630015#msg630015

You can find plenty more if your dredge the Hardware forum

Yes provided your Asic devices are deliver On Time.

[erk]

"Latest tech is causing the sky to fall" - That's today's story, and tomorrows and next years. Lets try and get more readers by putting a company name in the headline to make it sound more like gossip.

[Inaba]

However, the GPU days are coming to an end.  The ASIC days, on the other hand, are just getting started.

GPU days are long gone. You are an idiot posting otherwize.

The golden ASIC days are over too. Stop trying to scam people into keeping faith in getting any profit of their late delivered ASICs. There will be only tears and over due power bills.

Just one example:



Batch #1 Avalons made a killing. Batch #2 Avalons (you know, when you started shipping a few units / day) will brake even.

The only reason the graph is not slumping down completely is because Avalon users figured out how to get a 20% increase in GH/s due to overclocking (with an increase of power consumption of course). Can BFL users get an equivalen boost of their revenue with the current flaky equipment?

Anything after August will just evaporate in hyperdifficulty (I'm coining that term after hyperinflation)



Anybody receiving equipment in August or later is going to be completely out of any kind of profit

There is no 60% resell value for an ASIC (unlike GPUs) unless you can find a bigger idiot than you (which seems to be today's business plan for most delusional investors)

Stop blowing that good new trumpet. You know where you can shove it

Once again, replace ASIC with GPU.  Exact same post as in the past.  Same reasons it's complete junk.

Come up with some original material, please.

[pikeadz]

Actually, I'm pretty sure you CAN'T replace the word ASIC with GPU in that sentence about 60% resale value.  GPUs have other purposes, ASICs do not.  Stop peddling bullshit.  Nobody's in the market here.