{BFL} Why The Monarch Might Just Work

[TechCF]

It might work, and the design is good. But I guess it is just a PCIe USB card with a lot of ASICs, heatsink and those cheap NVIDIA/AMD replacement fan. I heard something about a USB port too, so that suggests that the card uses USB internally.

[BTCscraper]

For me there is really only one possible explanation.
BFL have direct access to advanced ancient alien technology.

They do -- the Persian who is currently in Gaul.

[01BTC10]

it's funny because op is troll bait. say something good about bfl and BAM!!! 32 haters show up to scream bloody murder.  it's the anti-troll troll.

bravo. bravo.

I don't know how you could say anything good about BFL unless you won the early shipping lottery.

I gave them the benefit of the doubt for 1 year but no more.

[wunch]

Monarch huh? You know this guy is going to be turning up in two weeks(TM)

http://coedmagazine.files.wordpress.com/2011/03/brock-samson-id-e1300998357489.jpg

[Rival]

Any preorder from any manufacturer anywhere in the bitcoin universe is a roll of the dice when it comes to ROI. I understand people trying to compare a preorder with BFL or Avalon with a preorder from Apple, but surely everyone here knows going in that they are completely different. It would be nice if bitcoin was a mature system with mature manufacturing and distribution channels for ASIC hardware. But it isn't. You know that, I know that, we all know that. Any preorder in any bitcoin hardware is a gamble, pure and simple. Every company promises X hash at Y delivery date, and none of them ever comes close. Maybe someday someone will, but only time will tell.

ASICminer sells hardware on-hand, and does not take preorders. They do it right, but then everyone screams that their hardware will never make ROI. This is the state of bitcoin ASIC technology. You roll the dice on a pre-order or you buy something you can get in a few days at a price that will never achieve ROI.

I don't see the venting against BFL or any other manufacturer as very constructive, unless it has some therapeutic value. Blaming the dice when you crap out makes you a poor gambler.

[wtfvanity]

Are people really considering this? You never got your preorder, so roll it over into the new preorder? lol...

There are some really stupid people here.

[DeathAndTaxes]

Are people really considering this? You never got your preorder, so roll it over into the new preorder? lol...

There are some really stupid people here.

or just insane.

“Insanity: doing the same thing over and over again and expecting different results.”
Albert Einstein

[qwk]

“Insanity: doing the same thing over and over again and expecting different results.”
Albert Einstein

"God doesn't play dice."
Albert Einstein

[mgio]

Your best option, OP, would have been to cancel your preorder and get a refund from BFL.


There is no reason to believe they will ever ship this new product.

It's amazing how quickly people forget. Recall back in October of last year when they said they would be shipping in late Oct/earl Nov. Did that happen?

Remember in January when they actually gave a date they said they would begin shipping. Feb 10, I think it was...

And it went on and on. And all that time they didn't even have a chip yet!!

Seriously, anyone who orders anything from BFL now is an idiot. I know people seem bitter, but it is not without good reason. They been claiming they would ship in a few weeks for over a year now.

[greyhawk]

Are people really considering this? You never got your preorder, so roll it over into the new preorder? lol...

There are some really stupid people here.

or just insane.

“Insanity: doing the same thing over and over again and expecting different results.”
Albert Einstein

I think you mean Vaas Montenegro.

No, for real: This quote is misattributed to Einstein often. However, Einstein was long dead when the quote first surfaced in the 1981 edition of Narcotics Anonymous' "Basic Text".

[jhansen858]

it's funny because op is troll bait. say something good about bfl and BAM!!! 32 haters show up to scream bloody murder.  it's the anti-troll troll.

bravo. bravo.

I don't know how you could say anything good about BFL unless you won the early shipping lottery.

I gave them the benefit of the doubt for 1 year but no more.

Lets be honest for a second here.  Anyone who can google something, can easily learn about the entire asic design process.  Maintaining realistic expectations is not that hard.  After the news came out that the chip was over budget on power and cooling, anyone who did any sort of homework on this would have known thats a 6 month fuckup there.  BFL sure as shit isn't going to start trumpeting this in the middle of trying to get this off the ground.  I wouldn't expect them to. 

My only regret is that they should have only produced 1 line which was the minirigs.  Then all the stupid people who were trying to buy $300 worth of rigs would have had to go elsewhere.  Letting 15 year olds purchase $300 jala's because their parents pay for electricity and then listening to them bitch and complain for the last year because they didn't win the shipping lotto is really the most annoying part to the entire thing. 

[tiros]

You know what else might just work ? Holding onto two live electrical wires whilst jumping into a vat of acid, hoping to acquire super-powers.

Or you could take a chance on this product.

Either choice is liable to cause you pain and suffering.

ROFL

[wtfvanity]

it's funny because op is troll bait. say something good about bfl and BAM!!! 32 haters show up to scream bloody murder.  it's the anti-troll troll.

bravo. bravo.

I don't know how you could say anything good about BFL unless you won the early shipping lottery.

I gave them the benefit of the doubt for 1 year but no more.

What exactly do you mean there. Are you talking about the people that paid a year ago and theirs shipped first? Or people like luke-jr and a couple of reviewers that got the first ones?

Besides the first free ones they gave away, I hardly would say that anyone that preordered the first day won anything...

[fractal02]

Besides the first free ones they gave away, I hardly would say that anyone that preordered the first day won anything...

Some Singles (60gh/s) was shipped around 24-25 june 2013.
Diff was 19.34 MM
1 month after the diff was 31.26 MM

In 1 month a Single owner make some 5200 dollars...(and can make more extra putting this on Ebay...)

Ohh no...they won anything...nononono...

[Syke]

Besides the first free ones they gave away, I hardly would say that anyone that preordered the first day won anything...

Some Singles (60gh/s) was shipped around 24-25 june 2013.
Diff was 19.34 MM
1 month after the diff was 31.26 MM

In 1 month a Single owner make some 5200 dollars...(and can make more extra putting this on Ebay...)

Ohh no...they won anything...nononono...

They spent 200 bitcoins, now worth over 22000 dollars. They should have kept their bitcoins. They lost. Big!

[fractal02]

They spent 200 bitcoins, now worth over 22000 dollars. They should have kept their bitcoins. They lost. Big!

In my country we have a proverb for this kind of BS retro/futur predication  :

"If my aunt had balls this would be my uncle"

I have another one for you : Why haven't you buy some APPLE shares when they were cheap ? You'd be a millionaire !!! Why ? whhhhyyyyyyyy !!!!  

Please.

I'm talking about the ROI for early buyers.
Not some "If" talk.

[Stack]

They spent 200 bitcoins, now worth over 22000 dollars. They should have kept their bitcoins. They lost. Big!

In my country we have a proverb for this kind of BS retro/futur predication  :

"If my aunt had balls this would be my uncle"

I have another one for you : Why haven't you buy some APPLE shares when they were cheap ? You'd be a millionaire !!! Why ? whhhhyyyyyyyy !!!!  

Please.

I'm talking about the ROI for early buyers.
Not some "If" talk.

Agreed, when you spent your coin you based your purchase on their current fiat market value.
You could've easily spent those coins on something else of equal fiat value (like slippers) - doesn't mean you bought slippers for thousands of dollars... market was different back then, just as $10 used to fill the fuel tank of your car a few years ago... so seriously... this tired old comparison is irrelevant - sick of reading it.
The market value at the time of purchase is what was spent. As is the case with any currency or asset.

I do, however feel that even early adopters lost out on BFL... sure - they did earn some money, but what a fuck around they went through - strung along all that time - the ones who did truly well were those who received their unit, mined with it for awhile then ebay'd it and washed their hands of BFL and learnt from it.

[k9quaint]

They spent 200 bitcoins, now worth over 22000 dollars. They should have kept their bitcoins. They lost. Big!

In my country we have a proverb for this kind of BS retro/futur predication  :

"If my aunt had balls this would be my uncle"

I have another one for you : Why haven't you buy some APPLE shares when they were cheap ? You'd be a millionaire !!! Why ? whhhhyyyyyyyy !!!!  

Please.

I'm talking about the ROI for early buyers.
Not some "If" talk.

Agreed, when you spent your coin you based your purchase on their current fiat market value.

Except you were spending a fixed amount of coin to buy a future variable stream of coins. Very similar a variable annuity from an insurance company. The inputs and outputs were in the same unit. Bitcoins in, bitcoins out. There is no way to justify spending 200 bitcoins to receive 120 (more or less depending on the date received and future difficulty). There is no uncertainty, there is no gambling. Under what circumstances is it good to pay $200 for a financial product that will return you $120? Why would you pay an insurance company $200 (or it's equivalent) for an annuity that caps the payout at $120? You wouldn't.

As for the Apple shares analogy:
Would you have traded 200 shares of Apple back when they were worth $20 for 120 shares of Apple when they were worth $500? After all, the 200 shares were only worth $4000 and the 120 shares are worth $60,000!
Explain the circumstances under which that would be a good idea.

You could've easily spent those coins on something else of equal fiat value (like slippers) - doesn't mean you bought slippers for thousands of dollars... market was different back then, just as $10 used to fill the fuel tank of your car a few years ago... so seriously... this tired old comparison is irrelevant - sick of reading it.
The market value at the time of purchase is what was spent. As is the case with any currency or asset.

This might be true, if they bought a pizza, or a shoe, or a car  (which btw are not investments).
But they didn't, they bought a complex future option for more Bitcoins. Like most options, this one has a decaying time value. The fact that it is packaged in the form of silicon is idiosyncratic of Bitcoin.

I do, however feel that even early adopters lost out on BFL... sure - they did earn some money, but what a fuck around they went through - strung along all that time - the ones who did truly well were those who received their unit, mined with it for awhile then ebay'd it and washed their hands of BFL and learnt from it.

The greater fool method of profit was the only way to profit for people who bought BFL.

[lumpycustard]

The reason people keep misunderstanding each other on this point is that some are aiming for more USD, others are aiming for more BTC. 

[Swordsoffreedom]

Basically if you already got stuck may as well give in mentality