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Author Topic: Buy out BFL  (Read 1291 times)
Bitcoin Oz
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June 21, 2012, 01:49:58 PM
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If people are so worried about this company taking over bitcoin try and approach them with a proposal for a community buyout of the company. Its the free market way to approach things rather than change the bitcoin protocol willy nilly like the government changes the rules as it sees fit.

The queston is how much would we need to raise in such a  scenario ?

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June 21, 2012, 01:57:49 PM
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If people are so worried about this company taking over bitcoin try and approach them with a proposal for a community buyout of the company. Its the free market way to approach things rather than change the bitcoin protocol willy nilly like the government changes the rules as it sees fit.

The queston is how much would we need to raise in such a  scenario ?
Enough to make both them and the VCs happy. I don't see it happening.

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June 21, 2012, 02:43:02 PM
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The upfront costs for a custom ASIC manufacturing line at the 135 nm levels are between $2M and $3M, for design, tooling, masks, testing, repairs, packaging, more testing, and the whole semiconductor fabrication process.  

I think if the VCs were offered 10x their money tomorrow, they would probably take it.  So you're looking at $20M-$30M.  Once these start shipping, the value of the company will be even higher.

I predict they will be the largest bitcoin company in 2012, surpassing Mt Gox and BitInstant in revenues.

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June 21, 2012, 02:57:18 PM
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I predict they will be the largest bitcoin company in 2012 2013, surpassing Mt Gox and BitInstant in revenues.

Given they announced Singles would be ready to ship in Oct 2011 and they didn't ship until Febuary 2012 and still have a 70 day backlog I think 2012 is optimistic.  They won't ship enough units (if any) in 2012 to bring in that kind of revenue.   Now 2013, baring some huge upset or new competitor they will be bringing in some serious coin (pun intended).

On edit:  I forgot their policy of collecting money up front and sitting on it for 6 months.  Yeah your right. 
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June 21, 2012, 03:11:57 PM
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On edit:  I forgot their policy of collecting money up front and sitting on it for 6 months.  Yeah your right. 

Yeah... they won't make much money in 2013, because we will all give them our money in October, lol. If they delayed their pre-orders until they are actually close to ready to shipping these, it would reduce their ridiculous wait times and less customers would complain.

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June 21, 2012, 03:29:58 PM
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On edit:  I forgot their policy of collecting money up front and sitting on it for 6 months.  Yeah your right. 

Yeah... they won't make much money in 2013, because we will all give them our money in October, lol. If they delayed their pre-orders until they are actually close to ready to shipping these, it would reduce their ridiculous wait times and less customers would complain.

But unfortunately people (like me) are ready and willing to give them our money to get in line!  Woot!  Where do I order?  Can my previous orders get me in line sooner?

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June 21, 2012, 06:55:13 PM
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The upfront costs for a custom ASIC manufacturing line at the 135 nm levels are between $2M and $3M, for design, tooling, masks, testing, repairs, packaging, more testing, and the whole semiconductor fabricatoin process. 

I think if the VCs were offered 10x their money tomorrow, they would probably take it.  So you're looking at $20M-$30M.  Once these start shipping, the value of the company will be even higher.

I predict they will be the largest bitcoin company in 2012, surpassing Mt Gox and BitInstant in revenues.

I guess it makes sense that a mining related company is the largest. Though mining is the least interesting thing about bitcoin.

If I was i-q-tel I would be buying bfl. http://www.iqt.org/about-iqt/history.html

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June 21, 2012, 06:58:13 PM
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If I was i-q-tel I would be buying bfl. http://www.iqt.org/about-iqt/history.html

Shhhhh.. They might hear you.

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June 21, 2012, 07:31:39 PM
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Or start a competing company that is better.

http://www.bitpools.com
Pool your bitcoins with others. Vote on solutions using the Bitcoin blockchain. Keep your bitcoins in your cold storage until you find a solution you like.
Links and Reviews of useful every day places to spend bitcoins: https://bitcointalk.org/index.php?topic=943143.0
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June 22, 2012, 01:13:07 AM
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Or start a competing company that is better.

American way of business: competition is no good, buy it yo!
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