BFL ASIC is bogus

[ElectricMucus]

No love for shills ITT.

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[ElectricMucus]

At FTC’s Request, Court Halts Bogus Bitcoin Mining Operation [ftc.gov]

I told you so.  

[Raskal]

At FTC’s Request, Court Halts Bogus Bitcoin Mining Operation [ftc.gov]

I told you so.  

That is funny. However besides that appointed receiver assuming command BFL appears to be unaffected. A judge has already said he believes there was foul play but due to lack of evidence and a star "silver tounged" witness for the defense was unable to give them the 24 months in jail they were facing. Who knew stealing multi millions of dollars would get you less jail time than stealing  $1000 from a store or bank :/ so BFL may face a fine for the misuse of company funds charge but they won't get any jail time and the consumers they hustled will be lucky if they get the outdated cards they paid for but any financial settlement to customers is extremely unlikely.

[Bicknellski]

At FTC’s Request, Court Halts Bogus Bitcoin Mining Operation [ftc.gov]

I told you so.  

That is funny. However besides that appointed receiver assuming command BFL appears to be unaffected. A judge has already said he believes there was foul play but due to lack of evidence and a star "silver tounged" witness for the defense was unable to give them the 24 months in jail they were facing. Who knew stealing multi millions of dollars would get you less jail time than stealing  $1000 from a store or bank :/ so BFL may face a fine for the misuse of company funds charge but they won't get any jail time and the consumers they hustled will be lucky if they get the outdated cards they paid for but any financial settlement to customers is extremely unlikely.

Jail time for Sonny V.

FTC will refund people as much as they can given BFL made millions go poof in a cloud of smoke.

Cards? Really I think people that requested a refund months ago are glad this is over don't you?

There will be no more units shipped. Monarchs are dead for ROI. Refunds are the only way to recoup anything.

[Raskal]

At FTC’s Request, Court Halts Bogus Bitcoin Mining Operation [ftc.gov]

I told you so.  

That is funny. However besides that appointed receiver assuming command BFL appears to be unaffected. A judge has already said he believes there was foul play but due to lack of evidence and a star "silver tounged" witness for the defense was unable to give them the 24 months in jail they were facing. Who knew stealing multi millions of dollars would get you less jail time than stealing  $1000 from a store or bank :/ so BFL may face a fine for the misuse of company funds charge but they won't get any jail time and the consumers they hustled will be lucky if they get the outdated cards they paid for but any financial settlement to customers is extremely unlikely.

Jail time for Sonny V.

FTC will refund people as much as they can given BFL made millions go poof in a cloud of smoke.

Cards? Really I think people that requested a refund months ago are glad this is over don't you?

There will be no more units shipped. Monarchs are dead for ROI. Refunds are the only way to recoup anything.

If the FTC belived they had a solid consumer fraud case they would have taken BFL's website down not under temporary receivership. You can still go to their website and order miners so I don't believe this will end the way everyone, including the judge hearing the case, hopes it will. BFL's will be forced to pay a fine and their company will almost certainly not be disolved  and they will be back up and running as soon as the case is decided. I know that sucks a fat one but ultimately the law is the law it's difficult to prove what people's intentions are/were.

[Bicknellski]

<snip>

They have a solid case.

They will reimburse whatever they recently got control of.

Sonny V. broke probation and is going to go to Jail. Do not pass go. Do not collect 200 bucks.

I think you might not realize the depth of the fraud and the potential for the IRS and FBI to be involved. The FTC is just the start.

[Xian01]

If the FTC belived they had a solid consumer fraud case they would have taken BFL's website down not under temporary receivership. You can still go to their website and order miners so I don't believe this will end the way everyone, including the judge hearing the case, hopes it will. BFL's will be forced to pay a fine and their company will almost certainly not be disolved  and they will be back up and running as soon as the case is decided. I know that sucks a fat one but ultimately the law is the law it's difficult to prove what people's intentions are/were.

Assuming your scenario comes true, who is going to continue doing business with Butterfly Labs in the future after their unscrupulous behavior has come to light ?

Either way this FTC investigation shakes out, they are done for as a business. Consumer confidence has been (rightfully) utterly destroyed.

I suspect the FTC action is "just the tip" for what's to come.

[-ck]

Enough BFL threads. The discussion became irrelevant on this thread's topic a long time ago. Locking thread.