BitForce SC - Pre Order List

[rjk]

Im concerned 1 company will have over 51% of the network hashing power.

Ive not yet seen any mention from bfl on their policy for when that happens.

BFL won't have over 51%, individual miners using their products will might. Not sure what the worry is.

+1 and FTFY

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[Serge]

BFL: Are you willing to commit to a cap on SC hardware shipped per day or week, measured in TH/s?

For example, if you can assure us that no more than 30 TH/s will ship per week, the early buyers can be sure to recover their investment in a reasonable time before the mining difficulty equalizes at 20x what it is now. 30 TH/s would be 30 mini-rigs or 750 singles or 8600 jalapenos per week. Can you give us some idea of whether you'll be pushing out that many per week? Much less? Much more?

I think a major factor holding back some of your potential customers is the concern that they're investing alot of money into hardware that has no value outside of bitcoin mining, and once you've shipped about 200 TH/s of hardware, the difficulty factor will very soon put us back where we're at now in terms of ROI but without the backup plan of selling GPU's to gamers. Also, at that point, you will need to start cutting the price to keep sales flowing, which will kill anyone who couldn't mine enough bitcoins during the transition to cover most of their investment.

So, how much TH/s of hardware do you think you'll be able to assemble and ship per week once shipments start?

even if BFL could have capacity to rollout 200TH/s weekly, i think it would take 1-3 years for the network to grow to that level.

[arklan]

BFL: Are you willing to commit to a cap on SC hardware shipped per day or week, measured in TH/s?

For example, if you can assure us that no more than 30 TH/s will ship per week, the early buyers can be sure to recover their investment in a reasonable time before the mining difficulty equalizes at 20x what it is now. 30 TH/s would be 30 mini-rigs or 750 singles or 8600 jalapenos per week. Can you give us some idea of whether you'll be pushing out that many per week? Much less? Much more?

I think a major factor holding back some of your potential customers is the concern that they're investing alot of money into hardware that has no value outside of bitcoin mining, and once you've shipped about 200 TH/s of hardware, the difficulty factor will very soon put us back where we're at now in terms of ROI but without the backup plan of selling GPU's to gamers. Also, at that point, you will need to start cutting the price to keep sales flowing, which will kill anyone who couldn't mine enough bitcoins during the transition to cover most of their investment.

So, how much TH/s of hardware do you think you'll be able to assemble and ship per week once shipments start?

even if BFL could have capacity to rollout 200TH/s weekly, i think it would take 1-3 years for the network to grow to that level.

yea. but what's preventing people from turning their rigs on and gobbling up the reward/driving the difficulty insanely high? what the network NEEDS may not be relevant, unfortunately.

[PatrickHarnett]

1/3rd of the units will go in order priority of purchase date.
1/3rd of the units will go to trade in customers.
1/3rd of the units will go to random orders placed in the first month (6/23 - 7/23).

I have been told that being rational is not welcome, but I'll post anyway as the lending section has it's first BFL upgrade request posted.

Given shipping is uncertain, and might be four months away, and pre-orders do not have that much priority ahead of trade-in customers or randoms, why is everyone rushing to lock up their funds for such an extended period of time?

Without accessing the risks too closely, you could stick 100 coins in BS&T and get enough interest to cover the upgrade by October, and then simply work out if BFL or Pirate has the better track record.

Personally, I'll wait until the units start shipping before doing my trade-in, I'd prefer to have $3.5k in my pocket than with BLF for the next 4-6 months.

[KIDC]

So now that I can only do an order in BTC for these (certainly not what I was hoping for), are there any options for me to be able to place an order and pay for these immediately? I don't have anywhere near enough BTC on hand for 6 Single SC (which is what I wanted - I don't have enough for even one, and that's even with the trade-in discount).

I have no experience with bankwire transfer. Is it going to be quick and easy if I can get the money in my bank account tomorrow? Are there any safe ways to get $4228 in BTC quickly and safely? If anybody can help me I'd greatly appreciate it.

[imsaguy]

BLF

Its funny you say that, because that is what I think of every time I see their name.

[Garr255]

BLF

Its funny you say that, because that is what I think of every time I see their name.

Lol.

[BitMinerN8]

So now that I can only do an order in BTC for these (certainly not what I was hoping for), are there any options for me to be able to place an order and pay for these immediately? I don't have anywhere near enough BTC on hand for 6 Single SC (which is what I wanted - I don't have enough for even one, and that's even with the trade-in discount).

I have no experience with bankwire transfer. Is it going to be quick and easy if I can get the money in my bank account tomorrow? Are there any safe ways to get $4228 in BTC quickly and safely? If anybody can help me I'd greatly appreciate it.

My bank wires in the past were processed on the same day, if you get there before 2PM you should be good, check with your bank on the cut off time. You'll most likely pay a fee, mine was $35. Just place your order with BFL select the bank transfer option, they will send you the specifics via email, take that info to the bank, simple.

[duukat]

I understand what BFL is saying when they want to give Bit-Pay the first round of pre-orders.  But why would they also accept bank wire transfers?  Are they doing it just because those are the two non-reversible payment options?  They can obviously take Pay-Pal because they take it on there other products.  Seems really sketchy to me.  I can't believe this many people are willing to throw money at BFL without even so much as a picture of what they are buying.

[1l1l11ll1l]

I understand what BFL is saying when they want to give Bit-Pay the first round of pre-orders.  But why would they also accept bank wire transfers?  Are they doing it just because those are the two non-reversible payment options?  They can obviously take Pay-Pal because they take it on there other products.  Seems really sketchy to me.  I can't believe this many people are willing to throw money at BFL without even so much as a picture of what they are buying.

Seriously. I mean, have they even shipped any real products yet? And if they did, they probably only shipped those products to gain people's confidence so they'd make a huge haul and then disappear.

Where's my tinfoil hat.

[kibblesnbits]

I understand what BFL is saying when they want to give Bit-Pay the first round of pre-orders.  But why would they also accept bank wire transfers?  Are they doing it just because those are the two non-reversible payment options?  They can obviously take Pay-Pal because they take it on there other products.  Seems really sketchy to me.  I can't believe this many people are willing to throw money at BFL without even so much as a picture of what they are buying.

Seriously. I mean, have they even shipped any real products yet? And if they did, they probably only shipped those products to gain people's confidence so they'd make a huge haul and then disappear.

Where's my tinfoil hat.

For what it's worth, Ive got five singles running, five on the way.  The thought of sending 7k to upgrade them all didn't sit well, so I did one only. 

[crazyates]

I understand what BFL is saying when they want to give Bit-Pay the first round of pre-orders.  But why would they also accept bank wire transfers?  Are they doing it just because those are the two non-reversible payment options?  They can obviously take Pay-Pal because they take it on there other products.  Seems really sketchy to me.  I can't believe this many people are willing to throw money at BFL without even so much as a picture of what they are buying.

Seriously. I mean, have they even shipped any real products yet? And if they did, they probably only shipped those products to gain people's confidence so they'd make a huge haul and then disappear.

Where's my tinfoil hat.

If they were gonna drop hat and run, why would they ship 60k worth of Mini-Rigs days before opening the Preorders? And yes, I did just answer both of your questions at once.

[gnar1ta$]

Without accessing the risks too closely, you could stick 100 coins in BS&T and get enough interest to cover the upgrade by October, and then simply work out if BFL or Pirate has the better track record.

If only I could get an account....

[PatrickHarnett]

Without accessing the risks too closely, you could stick 100 coins in BS&T and get enough interest to cover the upgrade by October, and then simply work out if BFL or Pirate has the better track record.

If only I could get an account....

There are lots of ways to get a psuedo account.  https://bitcointalk.org/index.php?topic=81542.0

[kibblesnbits]

I understand what BFL is saying when they want to give Bit-Pay the first round of pre-orders.  But why would they also accept bank wire transfers?  Are they doing it just because those are the two non-reversible payment options?  They can obviously take Pay-Pal because they take it on there other products.  Seems really sketchy to me.  I can't believe this many people are willing to throw money at BFL without even so much as a picture of what they are buying.

Seriously. I mean, have they even shipped any real products yet? And if they did, they probably only shipped those products to gain people's confidence so they'd make a huge haul and then disappear.

Where's my tinfoil hat.

If they were gonna drop hat and run, why would they ship 60k worth of Mini-Rigs days before opening the Preorders? And yes, I did just answer both of your questions at once.

I'll field that one.  If I sell out of all my FPGA inventory and plan on skipping town, what better way than to promise a game-changing product that won't be shipped until October (at best).  Right now they have over 150 orders, each of them at least $150.  Some are probably in the thousands of dollars.  

I'm still stunned that I paid $1299 for a product that does almost the same Ghash as a $30k product that shipped less than a month ago



A worst case scenario -

[Luceo]

Going to have to set up a lottery for one of the Jalapenos and see how it goes.

[nedbert9]

I understand what BFL is saying when they want to give Bit-Pay the first round of pre-orders.  But why would they also accept bank wire transfers?  Are they doing it just because those are the two non-reversible payment options?  They can obviously take Pay-Pal because they take it on there other products.  Seems really sketchy to me.  I can't believe this many people are willing to throw money at BFL without even so much as a picture of what they are buying.

Seriously. I mean, have they even shipped any real products yet? And if they did, they probably only shipped those products to gain people's confidence so they'd make a huge haul and then disappear.

Where's my tinfoil hat.

If they were gonna drop hat and run, why would they ship 60k worth of Mini-Rigs days before opening the Preorders? And yes, I did just answer both of your questions at once.

I'll field that one.  If I sell out of all my FPGA inventory and plan on skipping town, what better way than to promise a game-changing product that won't be shipped until October (at best).  Right now they have over 150 orders, each of them at least $150.  Some are probably in the thousands of dollars.  

I'm still stunned that I paid $1299 for a product that does almost the same Ghash as a $30k product that shipped less than a month ago



A worst case scenario -

That's actually the most plausible con speculation.  I'd be bizarrely impressed with that one.

[DavinciJ15]

BLF

Its funny you say that, because that is what I think of every time I see their name.

Lol.

There are too many slag meanings defined for BLF what does it mean to you?

[dave3]

Firstly, the initial orders will be grouped into a batch prior to shipment.  This will ensure no one is an unfair beneficiary of disproportionate hashing power.  Having said this, we only have so much production capacity and the initial order group will still do very very well.  That being the case, here are the rules we will stick to in releasing these units.

1/3rd of the units will go in order priority of purchase date.
1/3rd of the units will go to trade in customers.
1/3rd of the units will go to random orders placed in the first month (6/23 - 7/23).

Both priority customers and trade in customers may benefit from random selection prior to their natural shipping order.

Sounds like a fair way to handle the pre-orders.

If possible, please send out the wiring instructions this weekend for customers paying via wire transfer, so the transfers can be arranged to go out on Monday morning.

I have the old instructions from my March order, but I'm not sure if they've changed since then.  Thanks.

[DavinciJ15]

I understand what BFL is saying when they want to give Bit-Pay the first round of pre-orders.  But why would they also accept bank wire transfers?  Are they doing it just because those are the two non-reversible payment options?  They can obviously take Pay-Pal because they take it on there other products.  Seems really sketchy to me.  I can't believe this many people are willing to throw money at BFL without even so much as a picture of what they are buying.

They have delivered on other products.