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Author Topic: BitPay processes $1 million bitcoin order for Butterfly Labs  (Read 2397 times)
BtcBling
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October 29, 2013, 03:11:39 PM
#1

Stunning amount... for one order.  Who is still buying from BFL?!

http://www.coindesk.com/bitpay-processes-1-million-bitcoin-order-butterfly-labs/
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October 29, 2013, 03:36:39 PM
#2

Good news for BITPAY. Bad news for the buyer, he won't be really happy after he realises BFL won't deliver soon... or maybe they will deliver fast this time, just to be sure he don't get angry. (leaving normal buyer in the backorder for extra time)
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October 29, 2013, 03:51:26 PM
#3

Congrats to Bitpay for the commission.

Condolences to the purchaser.
GigaWave
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October 29, 2013, 03:56:28 PM
#4

Either BFL cashing out some coin, or they suckered some poor fool.  Or maybe, all of BFL's so called regular customers just got the shaft big time as a big order like that is going to get special treatment at the cost of smaller orders.
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October 29, 2013, 04:11:58 PM
#5

Excellent! That's more bitcoins for me! That's a whole lot of hashpower that won't come online anytime soon.

Buy & Hold
Gemminyc
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October 29, 2013, 04:16:39 PM
#6

$1 million preorder from BFL, thats big investment. Hopefully the investor knows what he is doing, it sounds very scary to me, but at least we will have more secure Bitcoin next year.

Good luck  Wink
recon3325
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October 29, 2013, 04:22:11 PM
#7

good news for who? Any one know what date the order went through?
sure hope my upgrade order went through first or it's game over! goodby every penny spent.
they need to shut down their pre-order system now or they will continue to screw a lot more people.
Bfl should adress how this will affect small purchases and be honest for once.

after a while when the difficulty is too great for the masses I wonder if these big buyers are going to be the only ones controlling all the miners.  Bfl selling orders that large goes against the whole vision of what the system was so pose to be. Very decentralized. I'm sure bfl isn't the only one with large orders. I'm a libertarian so I do support free market actios but here we go towards the centralization of mining.

I guess I can find the purchase date on BlockChain later. cant on the iPhone
the search box jumps around as new transactions go through.
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October 29, 2013, 04:23:54 PM
#8

Either BFL cashing out some coin, or they suckered some poor fool.  Or maybe, all of BFL's so called regular customs just got the shaft big time as a big order like that is going to get special treatment at the cost of smaller orders.

I'm sure BFL is liquidating some of the massive bitcoins they've mined...  Think about it - BTC is hovering at a premium right now.  Its what I would do.

If someone was going to pay BFL a million dollars for hardware, they wouldn't do it through a third party payment processor, lol.  They would have a meeting, agree on terms, sign contracts, and pay them - either BTC or fiat - directly.  This makes no sense except for BFL turning their bitcoins into dollas, while generating some good publicity while they are at it.

No matter what the btctalk community may think of BFL - they are not idiots over there.  They are actually very good at the things they are good at.  And where they suck, they suck (customer service, mainly).  I understand the optimism, the thought 'nothing at this point can go wrong', all of the little things that get in the way of producing something for the first time...  But i dont understand how they could be so unapologetic about it.  Wouldnt have cost them a dime to just have been nice this whole time, instead of being the way theyve been.
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October 29, 2013, 05:01:10 PM
#9

$1 million preorder from BFL, thats big investment. Hopefully the investor knows what he is doing, it sounds very scary to me, but at least we will have more secure Bitcoin next year.

Good luck  Wink

Why do people keep saying this?  "more secure, more secure"

A Government could easily buy or pay to develop their own ASIC's.
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October 29, 2013, 05:04:38 PM
#10

This is actually a good news...

IT MEANS THAT IF BFL FAILS TO DELIVER..

IT IS 100% that THIS PERSON WILL KNOCKDOWN BFL TO GROUND... WITH MULTIPLE LAWSUITS...

I REALLY HOPE BFL FAILS AGAIN AND THIS INVESTOR FILES A 5million LAWSUIT...

฿: 1L7dSte4Rs4KyyxRCgrqSWYtkXdAb4Gy1z

MORE INFO ABOUT ME: BTC
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October 29, 2013, 05:14:42 PM
#11

Either BFL cashing out some coin, or they suckered some poor fool.  Or maybe, all of BFL's so called regular customs just got the shaft big time as a big order like that is going to get special treatment at the cost of smaller orders.

I'm sure BFL is liquidating some of the massive bitcoins they've mined...  Think about it - BTC is hovering at a premium right now.  Its what I would do.



But why pay Bitpay the commission ?

They could sell the mined coins on exchange and nobody would notice

btctraderr
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October 29, 2013, 07:09:39 PM
#12

Some rich guy heard about a bitcoin, heard you could buy computers that make them and saw they were worth $200 per BTC. Then went and googled 'bitcoin mining hardware' and BFL was the first site that came up, looks legit. Hit order thinking he will make the money the bitcoinx profit calculator says he will.

Obviously has no idea what difficulty is, how it works or anything about BFL and what a joke of a company they are.
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October 29, 2013, 07:22:48 PM
#13

Either BFL cashing out some coin, or they suckered some poor fool.  Or maybe, all of BFL's so called regular customs just got the shaft big time as a big order like that is going to get special treatment at the cost of smaller orders.

I'm sure BFL is liquidating some of the massive bitcoins they've mined...  Think about it - BTC is hovering at a premium right now.  Its what I would do.



But why pay Bitpay the commission ?

They could sell the mined coins on exchange and nobody would notice
well, if this is indeed a conspiracy, it would make sense to use bitpay, it looks legit, AKA they dont have to explain a random 1m bank transfer. and they get free publicity.

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October 29, 2013, 07:24:45 PM
#14

lmao....frankenmint says "womp womp!"  Someone forgot to do their due diligence homework  Roll Eyes

HellDiverUK
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October 29, 2013, 07:31:57 PM
#15

Maybe with all that money just arriving, BFL will be able to build those Jalapenos people ordered months ago?  Still waiting for my worthless paperweight to arrive, only 6 months late...

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hulk
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October 30, 2013, 12:31:51 AM
#16

Thats a lot of pre-order. And they uses Bitcoin so they are doomed....

BTCscraper
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October 30, 2013, 09:11:10 AM
#17

Maybe with all that money just arriving, BFL will be able to build those Jalapenos people ordered months ago?  Still waiting for my worthless paperweight to arrive, only 6 months late...

Now they can also process refunds and comply with FTC rules.

Butterfly Labs has a different interpretation of the FTC Mail Order Rule.  You do not have a refund option with the BFL Monarch no matter how late they ship.
"... In the middle of difficulty lies opportunity." -- Albert Einstein
"Luck is a dividend of sweat. The more you sweat, the luckier you get." -- Ray Kroc
beegatewood
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October 30, 2013, 10:46:55 AM
#18

Oh no, there goes a portion of my money...

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October 30, 2013, 03:22:05 PM
#19

did josh just fooled some1 ?  Shocked
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