BFL ASIC is bogus

[runeks]

NOOOOOOO!!!

[1713970362]

1713970362

[1713970362]

1713970362

[1713970362]

1713970362

[1713970362]

1713970362

[mufa23]

NOOOOOOO!!!

haha

[ElectricMucus]

I was the first who called Pirateat40s Savings and Trust a "classical HYIP scam", right after his OP.
Yet I didn't take part in Matthews bet - get it?  

[tvbcof]

I was the first who called Pirateat40s Savings and Trust a "classical HYIP scam", right after his OP.
Yet I didn't take part in Matthews bet - get it?  

Being right about something in Bitcoin-land being a scam is somewhat less than miraculous.  Your performance seem to be somewhat on par with getting heads three times in a row on a coin flip.  None-the-less, good work (seriously) if what you say is accurate, and I don't track things that closely to verify.  You called the BFL think some time ago as evidenced by this thread so if you turn out correct it will be notable in my mind.

[mrb]

I was the first who called Pirateat40s Savings and Trust a "classical HYIP scam", right after his OP.
Yet I didn't take part in Matthews bet - get it?  

It is not my intention to taunt when I tell people to put their money where their mouth is by betting 'disagree' on http://betsofbitco.in/item?id=665 I tell them that to hopefully stop (or at least reduce) the length of the debates on the forum.

So, no, I honestly don't get it why you don't participate in a bet like mine, even a symbolic 1 BTC... If one thing, it tells me that you doubt your own claims (or don't care enough?)

[greyhawk]

It is not my intention to taunt when I tell people to put their money where their mouth is by betting 'disagree' on http://betsofbitco.in/item?id=665 I tell them that to hopefully stop (or at least reduce) the length of the debates on the forum.

No, your intention is this:

Here is the breakdown of the distribution:
45% goes to the bet winners proportional to their bets.
45% goes to the bet winners proportional to their weighted bets.
5% goes to the user who submitted the bet.
5% goes to the site.

[SysRun]

It is not my intention to taunt when I tell people to put their money where their mouth is by betting 'disagree' on http://betsofbitco.in/item?id=665 I tell them that to hopefully stop (or at least reduce) the length of the debates on the forum.

No, your intention is this:

Here is the breakdown of the distribution:
45% goes to the bet winners proportional to their bets.
45% goes to the bet winners proportional to their weighted bets.
5% goes to the user who submitted the bet.
5% goes to the site.

don't forget the sig for posterity

Non-Existent Device
Lots of Hashes and Stuff
To order send 1000 BTC or so to:
1HNLqLrPEwMk8woA91qwX9sRkatRfQik2T

[ElectricMucus]

I was the first who called Pirateat40s Savings and Trust a "classical HYIP scam", right after his OP.
Yet I didn't take part in Matthews bet - get it?  

Being right about something in Bitcoin-land being a scam is somewhat less than miraculous.  Your performance seem to be somewhat on par with getting heads three times in a row on a coin flip. 

Yes, you are right I fully agree.
However: The performance of the masses here is significantly less efficient than a coin flip. There is the tendency to believe in any proposed business model - a manifestation of wishful thinking.

[Frequency]

I was the first who called Pirateat40s Savings and Trust a "classical HYIP scam", right after his OP.
Yet I didn't take part in Matthews bet - get it?  

Being right about something in Bitcoin-land being a scam is somewhat less than miraculous.  Your performance seem to be somewhat on par with getting heads three times in a row on a coin flip. 

Yes, you are right I fully agree.
However: The performance of the masses here is significantly less efficient than a coin flip. There is the tendency to believe in any proposed business model - a manifestation of wishful thinking.

+1

[tvbcof]

I was the first who called Pirateat40s Savings and Trust a "classical HYIP scam", right after his OP.
Yet I didn't take part in Matthews bet - get it?  

Being right about something in Bitcoin-land being a scam is somewhat less than miraculous.  Your performance seem to be somewhat on par with getting heads three times in a row on a coin flip. 

Yes, you are right I fully agree.
However: The performance of the masses here is significantly less efficient than a coin flip. There is the tendency to believe in any proposed business model - a manifestation of wishful thinking.

Ya, it's odd to me that so many people to whom the Bitcoin solution might appeal are prone to be as careless/naive as they seem to be.  One explanation is, perhaps, that we don't really notice the people who are not so, and thus it just seems like more of a notable percentage of the community than it actually is.

[mrb]

It is not my intention to taunt when I tell people to put their money where their mouth is by betting 'disagree' on http://betsofbitco.in/item?id=665 I tell them that to hopefully stop (or at least reduce) the length of the debates on the forum.

No, your intention is this:

Here is the breakdown of the distribution:
45% goes to the bet winners proportional to their bets.
45% goes to the bet winners proportional to their weighted bets.
5% goes to the user who submitted the bet.
5% goes to the site.

I have mined 25+ thousand BTC the last 2 years. I couldn't care less of the comparatively tiny financial profits of this bet.

[greyhawk]

I have mined 25+ thousand BTC the last 2 years. I couldn't care less of the comparatively tiny financial profits of this bet.

Can I interest you in a fully insured no risk 7% ROI per week investment opportunity?

[Korbman]

I have mined 25+ thousand BTC the last 2 years. I couldn't care less of the comparatively tiny financial profits of this bet.

Pics or it didn't happen

Can I interest you in a fully insured no risk 7% ROI per week investment opportunity?

haha +1

[Frequency]

I have mined 25+ thousand BTC the last 2 years. I couldn't care less of the comparatively tiny financial profits of this bet.

Pics or it didn't happen

Can I interest you in a fully insured no risk 7% ROI per week investment opportunity?

haha +1

Did he just said 25 + 1000 so like 1025btc  joking

[abeaulieu]

My point being: BFL the way it is presented to us certainly hasn't got the resources and funds to develop custom chips.

They do now.  

By custom chips I mean Full Custom ASICs, that is what they are claiming they are making. That costs about 10M USD for starters.
There might be some way to get it cheaper if you have the ties but unless whoever behind BFL is some engineering wizard he doesn't even have the means to develop it.

One of my co-workers produced an ASIC for under a couple hundred thousand dollars. It took a couple years but that was essentially because he had never done it before. It seems everytime people mention ASICs they takes someone's WAG and multiply is a couple times.

And by the way, that price included a few thousand chips off the line.

[ElectricMucus]

my co-workers produced an ASIC for under a couple hundred thousand dollars. It took a couple years but that was essentially because he had never done it before. It seems everytime people mention ASICs they takes someone's WAG and multiply is a couple times.

And by the way, that price included a few thousand chips off the line.

Unless you provide some proof of your claim it stands alone. As a claim nothing more...

Once more, certainly possible with FPGA conversion chips.
Interestingly even BFLs competition (which could turn out to be fraudulent too btw) agrees with me...
Look at http://forum.bitsyn.com/viewtopic.php?id=6 under power consumption and then take a deep breath.

[abeaulieu]

my co-workers produced an ASIC for under a couple hundred thousand dollars. It took a couple years but that was essentially because he had never done it before. It seems everytime people mention ASICs they takes someone's WAG and multiply is a couple times.

And by the way, that price included a few thousand chips off the line.

Unless you provide some proof of your claim it stands alone. As a claim nothing more...

Once more, certainly possible with FPGA conversion chips.
Interestingly even BFLs competition (which could turn out to be fraudulent too btw) agrees with me...
Look at http://forum.bitsyn.com/viewtopic.php?id=6 under power consumption and then take a deep breath.

Didn't really need to provide proof. Was just letting you know that they're not always as expensive as people think.

[ElectricMucus]

my co-workers produced an ASIC for under a couple hundred thousand dollars. It took a couple years but that was essentially because he had never done it before. It seems everytime people mention ASICs they takes someone's WAG and multiply is a couple times.

And by the way, that price included a few thousand chips off the line.

Unless you provide some proof of your claim it stands alone. As a claim nothing more...

Once more, certainly possible with FPGA conversion chips.
Interestingly even BFLs competition (which could turn out to be fraudulent too btw) agrees with me...
Look at http://forum.bitsyn.com/viewtopic.php?id=6 under power consumption and then take a deep breath.

Didn't really need to provide proof. Was just letting you know that they're not always as expensive as people think.

You could have made that up on the spot though...
That's why I asked for proof.

[mrb]

my co-workers produced an ASIC for under a couple hundred thousand dollars. It took a couple years but that was essentially because he had never done it before. It seems everytime people mention ASICs they takes someone's WAG and multiply is a couple times.

And by the way, that price included a few thousand chips off the line.

Unless you provide some proof of your claim it stands alone. As a claim nothing more...
Once more, certainly possible with FPGA conversion chips.

ElectricMucus, you need to chill out and accept that producing ASICs can be "a few hundred thousand dollars".

Here is a claim from another ASIC manufacturer (friedcat for his Bitfountain company's asicminer project): only ~$150k for 130nm and ~$500k for 65nm.

[ElectricMucus]

Oh yeah, friedcat is even more shady than BFL and all other mining related biz together.  

An GLBSE asset which lets you rent self-made asic mining power. That is so shady I don't even start trying to educate the suckers falling for it. Did I mention he is in China?