NastyFans: The Bitcoin Enthusiast Fan Club (est. 2012)

[boomertoo]

It looks as though Butterfly Labs may have been raided by the US Marshals this morning.  This is still unconfirmed.

http://www.reddit.com/r/Bitcoin/comments/2gvnhm/butterfly_labs_bfl_raided_by_us_marshals_today/

Still not confirmed on any google news search, could be a po,d  bfl customer posting fud on redit

[1714125300]

1714125300

[1714125300]

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[Squirrel Dearing]

It looks as though Butterfly Labs may have been raided by the US Marshals this morning.  This is still unconfirmed.

http://www.reddit.com/r/Bitcoin/comments/2gvnhm/butterfly_labs_bfl_raided_by_us_marshals_today/

Wow.. Mixed emotions..

[maqifrnswa]

I know people don't read here all the time, but simply put:

without dilution shares are worth negative BTC
with dilution shares are worth positive BTC

I don't see how anyone could vote no, unless they think they can get a better deal on the debt - but if they do they should be presenting their arguments...

[plasticAiredale]

It looks as though Butterfly Labs may have been raided by the US Marshals this morning.  This is still unconfirmed.

http://www.reddit.com/r/Bitcoin/comments/2gvnhm/butterfly_labs_bfl_raided_by_us_marshals_today/

  Did we get our refund yet?

[OgNasty]

It looks as though Butterfly Labs may have been raided by the US Marshals this morning.  This is still unconfirmed.

http://www.reddit.com/r/Bitcoin/comments/2gvnhm/butterfly_labs_bfl_raided_by_us_marshals_today/

  Did we get our refund yet?

Not yet.  I posted on the BFL forums asking about it and my post was deleted.  Hopefully we get some answers soon.

[Squeaker]

it appears to be yet another hoax by irrational BFL-haters...

=squeak=

[nonnakip]

Distribution 321554 is complete. Thank you to the donators.

Interesting note: The timestamp on the block is 5 minutes before the transaction was created.

[Bittings]

Official FTC Complaint Against Butterfly Labs Obtained

http://coinfire.cf/2014/09/23/official-ftc-complaint-butterfly-labs-obtained/

[Squirrel Dearing]

Official FTC Complaint Against Butterfly Labs Obtained

http://coinfire.cf/2014/09/23/official-ftc-complaint-butterfly-labs-obtained/

Well, I guess this means we won't see our refund for a long time - the wheels of justice turn really, REALLY

s


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[silverfuture]

Ouch to us. It looks like the debt restructure is going to have to be re-thought out? Thanks a lot there "authorities".  

Edit- After reading the coindesk article maybe it won't be so bad for us.  BFL's practices WERE extremely unethical.  I still wouldn't have called the cops over it though. It's not like they forced anyone to pre-order from them and we all knew how sloppy their track record has been.

[OgNasty]

Ouch to us. It looks like the debt restructure is going to have to be re-thought out? Thanks a lot there "authorities".  

I don't think the restructuring needs to be thought out. The actual offer consists of several parts, including BTC from our holdings and seats that are to be created as well as seats I own.

While this situation is unfortunate, it is still in the best interests of everyone involved to continue moving forward. We can only hope that the FTC can recover something for us now that they've killed our chances at receiving a refund directly from BFL.

FTC PRESS RELEASE:
http://www.ftc.gov/news-events/press-releases/2014/09/ftcs-request-court-halts-bogus-bitcoin-mining-operation

[plasticAiredale]

I don't know. I think we may have start thinking about restructuring too. Besides the BFL stuff, the poll for new seats isn't exactly a certainty at this point.

It might be a good idea to at least brainstorm what other options are available.

[OgNasty]

I don't know. I think we may have start thinking about restructuring too. Besides the BFL stuff, the poll for new seats isn't exactly a certainty at this point.

It might be a good idea to at least brainstorm what other options are available.

The poll currently has nearly 80% of votes being "yes." We will have to see the end result before we will know if further thinking on the subject is necessary.

The majority of the restructuring payment is in seats and we will recover something down the line from BFL for the lenders. I'm open to ideas, but still believe this restructuring is in everyone's best interests.

We have always had a long term view and I think that this unfortunate event has little bearing on the future success of the NastyFans organization.

However, lenders shouldn't be too discouraged at this point.  

The FTC statement did read in part, “We’re pleased the court granted our request to halt this operation, and we look forward to putting the company’s ill-gotten gains back in the hands of consumers.”

Also, from another article, "Wong also noted that in this action—the FTC's first involving Bitcoin—seeks 'full consumer redress.'"

EDIT: The FTC was just answering questions relating to this case live on Twitter.  It's worth reading: https://twitter.com/FTC

[silverfuture]

Interesting. I feel a lot better about it now.

EDIT: The coindesk article about the buttcoin.org purchase and editing by BFL makes me just shake my head in contempt for these guys. What were they thinking? I guess their reputations weren't sufficiently ruined by the other actions they took so they went for broke.

[Squirrel Dearing]

The poll currently has nearly 80% of votes being "yes."

Sorry, I don't see the 80% you are talking about...

[OgNasty]

The poll currently has nearly 80% of votes being "yes."

Sorry, I don't see the 80% you are talking about...

Here are the current votes on the poll:
no: 1193
yes: 4785

5,978 votes have been cast so far and of those 4,785 (80%) have voted "yes."

[Squirrel Dearing]

The poll currently has nearly 80% of votes being "yes."

Sorry, I don't see the 80% you are talking about...

Here are the current votes on the poll:
no: 1193
yes: 4785

5,978 votes have been cast so far and of those 4,785 (80%) have voted "yes."

I didn't even think of it that way! Guess I was thinking of it as the whole in which case 57.7% voted yes. I like thinking about it this way better! lol

[OgNasty]

Bad news.  I received a PSU today and tried getting the 2 troublesome Monarchs running.  They immediately blew the new PSU.  It's clear they will need to be RMA'd.  With the current BFL situation, I am just going to sit on them for the moment.  Bitcointalk member lightfoot has offered to try and fix them for us, so it is nice to still have options regardless of the outcome with BFL.

[lightfoot]

Indeed. Let me know. I like BFL products, will do what I can.

C

[ManeBjorn]

Lightfoot does wonders with BFL products.
I will refrain from bashing BFL they have done enough to themselves and their customers already.

Lightfoot and anyone else reading I am still trying to source one Monarch for a review.  If anyone can send me one I can ship it back after 1 week or if the price is low enough I may be able to get and investor to help me buy it.

Thanks again OgNasty for keeping us up to date.

 

Bad news.  I received a PSU today and tried getting the 2 troublesome Monarchs running.  They immediately blew the new PSU.  It's clear they will need to be RMA'd.  With the current BFL situation, I am just going to sit on them for the moment.  Bitcointalk member lightfoot has offered to try and fix them for us, so it is nice to still have options regardless of the outcome with BFL.