Butterfly Labs Story Airs on Local NBC Affiliate

[MicroGuy]

https://www.youtube.com/watch?v=OeuCHhm1rVg

The local NBC-affiliate, 41 Action News, in Kansas City, Missouri, where the Butterfly Labs headquarters is located aired a story tonight about the embattled Bitcoin mining company.

Last week, the business was shut down by the US Federal Trade Commission (FTC), which accused the company of fraud and public misrepresentation in a complaint filed in United States District Court.

On September 18th, the agency was granted permission by the US District Court for the Western District of Missouri to freeze Butterfly Labs’ assets and shutter the company pending trial, according to documents released by the FTC.

Yesterday, Butterfly Labs issued a response to the allegations promising not to go down without a fight.

"Butterfly Labs intends to defend our business and our nascent and promising industry. The government wants to shut Butterfly Labs down, and we are not going away without a fight to vindicate bitcoin, our company, and our employees."

Mining is an essential part of Bitcoin. It rewards miners who use their computers to maintain the network. Since Bitcoin has no central authority, it relies on the community to process and record transactions which are recorded in a public ledger.

Currently, about 13.30 million bitcoins have been mined; the system is designed to cap production at 21 million coins.

Full Story: http://altcoinpress.com/2014/09/butterfly-labs-story-airs-on-local-nbc-affiliate/

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[Gleb Gamow]

Doors were locked, yet BCP19 (Bruce) went to work there yesterday (Monday).

https://forums.butterflylabs.com/the-monarch-discussion/8836-reports-bfl-have-been-raided-us-marshals-official-statement-request.html#post86110

We typically don't comment on bitcoin talk rumors or speculation.

Last Friday, no matter where Josh was located on the planet, you can take it to the bank that he was well-informed about the situated taking place at Camp BFL, far from being a rumor or speculation.

[FunnyHat43]

There were probably a good number of local jobs affected by the closure of BFL in Kansas City, so it is probably bad news for that area. For everywhere else (I never like to see people lose their jobs like this) it is great news as BFL is no longer going to be able to scam customers by using their miners to mine while they are "waiting" for R&D to complete.

[franky1]

There were probably a good number of local jobs affected by the closure of BFL in Kansas City, so it is probably bad news for that area. For everywhere else (I never like to see people lose their jobs like this) it is great news as BFL is no longer going to be able to scam customers by using their miners to mine while they are "waiting" for R&D to complete.

most manufacturing is not done at the missouri location, 90% of the hardware is done at chip manufacturing elsewhere and butterfly labs missouri once they finally do get product. employ people for just a couple months a year (temp jobs) just to box and ship units. so the impact of unemployment does not really come as a large measure of why people should defend BFL.

the company received multiple millions.. and im talking hundreds of millions of dollars. yet the output of physical product and employment payouts is far far far less

[TheMage]

"Butterfly Labs intends to defend our business and our nascent and promising industry. The government wants to shut Butterfly Labs down, and we are not going away without a fight to vindicate bitcoin, our company, and our employees."

Hahaha sure.....vindicate Bitcoin. The only thing they are trying to vindicate is their pocketbooks.

[vigsun]

butterflies and ants, which one is better