BFL Trade-Up Program - I have seen the light !

[KyleH]

Just got a response from Jody.  You have to put up 50% of the cost, the other 50% can be trade in.

I understand how you are confused. This whole thing has not been explained in detail. If it were a straight trade of old equipment for new our business would fold in a week. Here's how it works: if you buy $599 worth of BFL product--say 4 Jalapenos, you are eligible to send in a Single to exchange for 4 more Jalapenos. You must buy something to be eligible to trade something of equal value. And you don't have to send in your old equipment when you pay for the new--you send it in when you are notified that your ASIC equipment is ready to ship. Does this make sense to you?

Jody

I don't know if I believe this post since on the BFL press release it says very clearly ---

"Because our first and second generation equipment is expected to be outpaced very quickly by the new hardware, customers who have purchased earlier generation products will be able to trade them in at 100% of their value toward the purchase of SC-generation hardware."

It would be nice if BFL would come here and explain this in their own words rather than hear it from a 3rd party.

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[rjk]

Just got a response from Jody.  You have to put up 50% of the cost, the other 50% can be trade in.

I understand how you are confused. This whole thing has not been explained in detail. If it were a straight trade of old equipment for new our business would fold in a week. Here's how it works: if you buy $599 worth of BFL product--say 4 Jalapenos, you are eligible to send in a Single to exchange for 4 more Jalapenos. You must buy something to be eligible to trade something of equal value. And you don't have to send in your old equipment when you pay for the new--you send it in when you are notified that your ASIC equipment is ready to ship. Does this make sense to you?

Jody

I don't know if I believe this post since on the BFL press release it says very clearly ---

"Because our first and second generation equipment is expected to be outpaced very quickly by the new hardware, customers who have purchased earlier generation products will be able to trade them in at 100% of their value toward the purchase of SC-generation hardware."

It would be nice if BFL would come here and explain this in their own words rather than hear it from a 3rd party.

The quote from "Jody" is their own words, she is an employee of BFL.

[bulanula]

Just got a response from Jody.  You have to put up 50% of the cost, the other 50% can be trade in.

I understand how you are confused. This whole thing has not been explained in detail. If it were a straight trade of old equipment for new our business would fold in a week. Here's how it works: if you buy $599 worth of BFL product--say 4 Jalapenos, you are eligible to send in a Single to exchange for 4 more Jalapenos. You must buy something to be eligible to trade something of equal value. And you don't have to send in your old equipment when you pay for the new--you send it in when you are notified that your ASIC equipment is ready to ship. Does this make sense to you?

Jody

I don't know if I believe this post since on the BFL press release it says very clearly ---

"Because our first and second generation equipment is expected to be outpaced very quickly by the new hardware, customers who have purchased earlier generation products will be able to trade them in at 100% of their value toward the purchase of SC-generation hardware."

It would be nice if BFL would come here and explain this in their own words rather than hear it from a 3rd party.

Just like Matthew said : people stupid, money a lot, come quick.

DO you really think they could survive the ASIC fabrication without getting ANY new money from customers if the trade in was 1:1 ?

DO you really think ASIC is free ? You must think $ 1 000 000 = free for BFL ? Maybe BFL are the FED and can print money for free from China too !

Stop the trolling it is basically a 50% trade in. Forces everybody to double their investment if they wanna stay in the game.

All singles value is now $300 or less ...

[KyleH]

I see, so I should just believe the 3 or 4 people on here that love to slam this company and could have easily set up a fake quote from a BFL employee rather than believe the actual press release given by the company itself.  Sure. 

[bulanula]

I see, so I should just believe the 3 or 4 people on here that love to slam this company and could have easily set up a fake quote from a BFL employee rather than believe the actual press release given by the company itself.  Sure. 

I like to bash BFL ?

https://bitcointalk.org/index.php?topic=60586.msg975270#msg975270

Sure, I liked but you can say I too have seen the light like my buddy bitlane

[rudrigorc2]

do we really need enrich a company to build this thing ?

[Dargo]

Just got a response from Jody.  You have to put up 50% of the cost, the other 50% can be trade in.

I understand how you are confused. This whole thing has not been explained in detail. If it were a straight trade of old equipment for new our business would fold in a week. Here's how it works: if you buy $599 worth of BFL product--say 4 Jalapenos, you are eligible to send in a Single to exchange for 4 more Jalapenos. You must buy something to be eligible to trade something of equal value. And you don't have to send in your old equipment when you pay for the new--you send it in when you are notified that your ASIC equipment is ready to ship. Does this make sense to you?

Jody

I don't know if I believe this post since on the BFL press release it says very clearly ---

"Because our first and second generation equipment is expected to be outpaced very quickly by the new hardware, customers who have purchased earlier generation products will be able to trade them in at 100% of their value toward the purchase of SC-generation hardware."

It would be nice if BFL would come here and explain this in their own words rather than hear it from a 3rd party.

The two quotes are perfectly consistent. Under the 50% trade-in plan, you would be able to exchange earlier generation products at 100% of their value. But in order to do this you have to buy some new hardware too. So, if you buy four of the cup-warmers for $600, this gives you the option to get four more by trading in a single. By exchanging four cup-warmers for a single, you are exchanging the single at 100% of its value. So there is no reason to question the first quote in light of the second.  

[KyleH]

Just got a response from Jody.  You have to put up 50% of the cost, the other 50% can be trade in.

I understand how you are confused. This whole thing has not been explained in detail. If it were a straight trade of old equipment for new our business would fold in a week. Here's how it works: if you buy $599 worth of BFL product--say 4 Jalapenos, you are eligible to send in a Single to exchange for 4 more Jalapenos. You must buy something to be eligible to trade something of equal value. And you don't have to send in your old equipment when you pay for the new--you send it in when you are notified that your ASIC equipment is ready to ship. Does this make sense to you?

Jody

I don't know if I believe this post since on the BFL press release it says very clearly ---

"Because our first and second generation equipment is expected to be outpaced very quickly by the new hardware, customers who have purchased earlier generation products will be able to trade them in at 100% of their value toward the purchase of SC-generation hardware."

It would be nice if BFL would come here and explain this in their own words rather than hear it from a 3rd party.

The two quotes are perfectly consistent. Under the 50% trade-in plan, you would be able to exchange earlier generation products at 100% of their value. But in order to do this you have to buy some new hardware too. So, if you buy four of the cup-warmers for $600, this gives you the option to get four more by trading in a single. By exchanging four cup-warmers for a single, you are exchanging the single at 100% of its value. So there is no reason to question the first quote in light of the second.  

You could be correct but I think I will wait from a response from BFL Engineer or until they update their site w/ the relevant info unless someone can point me to the thread where Jody has stated this. Even then I don't think I'll believe it until BFL gives an actual response to this trade in program allegation. I don't really care anyway, the trade in program won't affect me at all.

[yochdog]

Just got a response from Jody.  You have to put up 50% of the cost, the other 50% can be trade in.

I understand how you are confused. This whole thing has not been explained in detail. If it were a straight trade of old equipment for new our business would fold in a week. Here's how it works: if you buy $599 worth of BFL product--say 4 Jalapenos, you are eligible to send in a Single to exchange for 4 more Jalapenos. You must buy something to be eligible to trade something of equal value. And you don't have to send in your old equipment when you pay for the new--you send it in when you are notified that your ASIC equipment is ready to ship. Does this make sense to you?

Jody

I don't know if I believe this post since on the BFL press release it says very clearly ---

"Because our first and second generation equipment is expected to be outpaced very quickly by the new hardware, customers who have purchased earlier generation products will be able to trade them in at 100% of their value toward the purchase of SC-generation hardware."

It would be nice if BFL would come here and explain this in their own words rather than hear it from a 3rd party.

The two quotes are perfectly consistent. Under the 50% trade-in plan, you would be able to exchange earlier generation products at 100% of their value. But in order to do this you have to buy some new hardware too. So, if you buy four of the cup-warmers for $600, this gives you the option to get four more by trading in a single. By exchanging four cup-warmers for a single, you are exchanging the single at 100% of its value. So there is no reason to question the first quote in light of the second.  

This will cause a very interesting second market to develop for singles.  Many big hitters will assign a certain price they are willing to pay for singles simply for the trade-in credit.  It will certainly be a discount, but not a massive one.  They will be treated as units of barter, and no longer as mining devices......should be fascinating to watch! 

[bitlane]

You could be correct but I think I will wait from a response from BFL Engineer or until they update their site w/ the relevant info unless someone can point me to the thread where Jody has stated this. Even then I don't think I'll believe it until BFL gives an actual response to this trade in program allegation. I don't really care anyway, the trade in program won't affect me at all.

They have been given ample opportunity to reply in public, as I have seen them all online, but they have avoided answering even the questions directed towards them in regards to this trade-up program.

The longer they can keep people 'in the fog' means more orders rolling in, meaning more future UPGRADE MONEY for them to receive from everyone once they sucker everyone in.

They have played their hand quite nicely and avoided the tough questions.

[Raoul Duke]

Just a little quote to the "miners" who thought that Bitcoin would be their way to get rich quickly:

You don't get rich by digging for gold, you get rich by selling shovels to fools who dig for gold.

[nimda]

do we really need enrich a company to build this thing ?

Yes, because it requires a HUGE down-payment.

[BFL]

Just got a response from Jody.  You have to put up 50% of the cost, the other 50% can be trade in.

I understand how you are confused. This whole thing has not been explained in detail. If it were a straight trade of old equipment for new our business would fold in a week. Here's how it works: if you buy $599 worth of BFL product--say 4 Jalapenos, you are eligible to send in a Single to exchange for 4 more Jalapenos. You must buy something to be eligible to trade something of equal value. And you don't have to send in your old equipment when you pay for the new--you send it in when you are notified that your ASIC equipment is ready to ship. Does this make sense to you?

Jody

I don't know if I believe this post since on the BFL press release it says very clearly ---

"Because our first and second generation equipment is expected to be outpaced very quickly by the new hardware, customers who have purchased earlier generation products will be able to trade them in at 100% of their value toward the purchase of SC-generation hardware."

It would be nice if BFL would come here and explain this in their own words rather than hear it from a 3rd party.

The two quotes are perfectly consistent. Under the 50% trade-in plan, you would be able to exchange earlier generation products at 100% of their value. But in order to do this you have to buy some new hardware too. So, if you buy four of the cup-warmers for $600, this gives you the option to get four more by trading in a single. By exchanging four cup-warmers for a single, you are exchanging the single at 100% of its value. So there is no reason to question the first quote in light of the second.  

This will cause a very interesting second market to develop for singles.  Many big hitters will assign a certain price they are willing to pay for singles simply for the trade-in credit.  It will certainly be a discount, but not a massive one.  They will be treated as units of barter, and no longer as mining devices......should be fascinating to watch!  

This is what we imagined in creating the trade in program.  The intent is to ensure anyone who has invested in our hardware is able to get their money back should they decide to upgrade or not.

With regards to the overall question of the trade in policy terms, Jody's response via email inquiry was correct.  We will have the full terms posted imminently, but the breakdown is simple.  You can trade a regular Single in towards the purchase of an SC Single, but you can't trade in two regular singles to get an SC Single.  I know people would rather do that, but it's not a working business model.  

[bulanula]

Just got a response from Jody.  You have to put up 50% of the cost, the other 50% can be trade in.

I understand how you are confused. This whole thing has not been explained in detail. If it were a straight trade of old equipment for new our business would fold in a week. Here's how it works: if you buy $599 worth of BFL product--say 4 Jalapenos, you are eligible to send in a Single to exchange for 4 more Jalapenos. You must buy something to be eligible to trade something of equal value. And you don't have to send in your old equipment when you pay for the new--you send it in when you are notified that your ASIC equipment is ready to ship. Does this make sense to you?

Jody

I don't know if I believe this post since on the BFL press release it says very clearly ---

"Because our first and second generation equipment is expected to be outpaced very quickly by the new hardware, customers who have purchased earlier generation products will be able to trade them in at 100% of their value toward the purchase of SC-generation hardware."

It would be nice if BFL would come here and explain this in their own words rather than hear it from a 3rd party.

The two quotes are perfectly consistent. Under the 50% trade-in plan, you would be able to exchange earlier generation products at 100% of their value. But in order to do this you have to buy some new hardware too. So, if you buy four of the cup-warmers for $600, this gives you the option to get four more by trading in a single. By exchanging four cup-warmers for a single, you are exchanging the single at 100% of its value. So there is no reason to question the first quote in light of the second.  

This will cause a very interesting second market to develop for singles.  Many big hitters will assign a certain price they are willing to pay for singles simply for the trade-in credit.  It will certainly be a discount, but not a massive one.  They will be treated as units of barter, and no longer as mining devices......should be fascinating to watch! 

This is what we imagined in creating the trade in program.  The intent is to ensure anyone who has invested in our hardware is able to get their money back should they decide to upgrade or not.

With regards to the overall question of the trade in policy terms, Jody's response via email inquiry was correct.  We will have the full terms posted imminently, but the breakdown is simple.  You can trade regular Single in towards the purchase of an SC Single, but you can't trade in two regular singles to get an SC Single.  I know people would rather do that, but it's not a working business model.  

Another win by BFL.

They could have completely screwed their customers and not offer any trade in so value of single with ASIC coming = maybe $10.

Now this basically ensures the value of the single is at least $300 which is excellent for some who are half way through paying off the unit and want to sell right now and stop gambling.

[rjk]

Another win by BFL.

They could have completely screwed their customers and not offer any trade in so value of single with ASIC coming = maybe $10.

Now this basically ensures the value of the single is at least $300 which is excellent for some who are half way through paying off the unit and want to sell right now and stop gambling.

Is your calculator broken?

[bitlane]

AND THERE WE HAVE IT.....

You can trade a regular Single in towards the purchase of an SC Single, but you can't trade in two regular singles to get an SC Single.  I know people would rather do that, but it's not a working business model.  

[bulanula]

Another win by BFL.

They could have completely screwed their customers and not offer any trade in so value of single with ASIC coming = maybe $10.

Now this basically ensures the value of the single is at least $300 which is excellent for some who are half way through paying off the unit and want to sell right now and stop gambling.

Is your calculator broken?

Since the trade in value is only 50% not 1:1 so 2 Singles cannot be swapped for a SC single but 1 single + 700 USD = one new SC single ?

Maybe my head is broken

[rjk]

AND THERE WE HAVE IT.....

You can trade a regular Single in towards the purchase of an SC Single, but you can't trade in two regular singles to get an SC Single.  I know people would rather do that, but it's not a working business model.  

Sweet, are you going to stop raising cain now? The past few days, half of the posts have been you bitching endlessly.

[bitlane]

AND THERE WE HAVE IT.....

You can trade a regular Single in towards the purchase of an SC Single, but you can't trade in two regular singles to get an SC Single.  I know people would rather do that, but it's not a working business model.  

Sweet, are you going to stop raising cain now? The past few days, half of the posts have been you bitching endlessly.

Tell me that I was right and I will run away and die a happy man.....

[rjk]

AND THERE WE HAVE IT.....

You can trade a regular Single in towards the purchase of an SC Single, but you can't trade in two regular singles to get an SC Single.  I know people would rather do that, but it's not a working business model.  

Sweet, are you going to stop raising cain now? The past few days, half of the posts have been you bitching endlessly.

Tell me that I was right and I will run away and die a happy man.....

I never said you were wrong, I was just poking all your OCD buttons yesterday.