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Topic: 1GH/s, 20w, $500 — Butterflylabs, is it a scam? - page 6. (Read 123109 times)

hero member
Activity: 560
Merit: 500
I have been looking into making something like this for about 6 months. It seems that something like this can be made for around $800-$900ish now. I will be looking into it. However the resale on the GPUs are good. I made all of my rigs to run as mid-high gaming machines so I can sell them quickly if need be.

Despite BFL claims their product does not have many uses outside of mining bitcoins so the resale is almost nothing. I expect to get most of my profit when I sell the used hardware. A 6990 will be useful for years and years down the road.

As far as I know, we still don't know what chip this is. FPGA's are reprogrammable and have many uses

Those uses would be to students who would get educational discounts on brand new FPGAs and to businesses who are unlikely to buy from another person and probably not used either. I work for a large corporation and nothing could be purchased from someone off the street. It would have to be an approved vendor which takes quite the approval process. Even then the company I work for would never buy something used. So to address your answer, no there is still no resale value.
sr. member
Activity: 476
Merit: 500
I have been looking into making something like this for about 6 months. It seems that something like this can be made for around $800-$900ish now. I will be looking into it. However the resale on the GPUs are good. I made all of my rigs to run as mid-high gaming machines so I can sell them quickly if need be.

Despite BFL claims their product does not have many uses outside of mining bitcoins so the resale is almost nothing. I expect to get most of my profit when I sell the used hardware. A 6990 will be useful for years and years down the road.

As far as I know, we still don't know what chip this is. FPGA's are reprogrammable and have many uses
sr. member
Activity: 476
Merit: 500
So,

Does everyone plan on buying these widgets--provided they work and stuff?

If they work, I may consider buying them like I do GPU's. Gradually build up
hero member
Activity: 504
Merit: 500
GPUs certainly have resale value, due to their dual purpose. 

But I think that bitcoin price instability is the real killer.  If bitcoin price collapses we are talking two or more year payback period.  And who can predict what will happen after the block reward halves in 2012?

Does it not halve in 2013?

  Depends on how much the block finding rate flucuates between now and then. But, it should be some time between Dec. 2012 and Jan. 2013.
hero member
Activity: 560
Merit: 500
GPUs certainly have resale value, due to their dual purpose. 

But I think that bitcoin price instability is the real killer.  If bitcoin price collapses we are talking two or more year payback period.  And who can predict what will happen after the block reward halves in 2012?

Does it not halve in 2013?
hero member
Activity: 714
Merit: 500
Sure it's a scam.  Grin
sr. member
Activity: 349
Merit: 250
GPUs certainly have resale value, due to their dual purpose. 

But I think that bitcoin price instability is the real killer.  If bitcoin price collapses we are talking two or more year payback period.  And who can predict what will happen after the block reward halves in 2012?
hero member
Activity: 560
Merit: 500
So,

Does everyone plan on buying these widgets--provided they work and stuff?

Not a chance in hell. Bitcoin prices are too unpredictable and I would rather use GPUs so I can game. Not to mention they will have a better resale value than these units. AGAIN THIS IS IF THIS IS FOR REAL. If for some reason I decide to build a 50 Ghash mining farm I would use these simply for the logistics. Even if they do provide a working demo to Inaba it doesnt mean they will ship with the same performance level and I suspect even if performance is up to par then reliability will be suffering.
sr. member
Activity: 349
Merit: 250
So,

Does everyone plan on buying these widgets--provided they work and stuff?
sr. member
Activity: 349
Merit: 250
OK. It is almost 18:00 in Kansas. Hopefully tomorrow I wake up and all this scam thread can be deleted and the numbers have been proven Grin
+1

Consider this as my vote to have this thread purged once (if?) this is proven to be real, and units have shipped out.
But I haven't written "Act III - The Crisis" of the BitForce Saga yet?  Surely you don't mean purge the thread after "Act IV - The Finale."  What will the future think of us? They need to learn from our experience... Roll Eyes
hero member
Activity: 560
Merit: 500
OK. It is almost 18:00 in Kansas. Hopefully tomorrow I wake up and all this scam thread can be deleted and the numbers have been proven Grin
+1

Consider this as my vote to have this thread purged once (if?) this is proven to be real, and units have shipped out.

I vote locked but no need to purge. Locking the thread will keep it from popping back up to the top but still keep everything on record.
rjk
sr. member
Activity: 448
Merit: 250
1ngldh
OK. It is almost 18:00 in Kansas. Hopefully tomorrow I wake up and all this scam thread can be deleted and the numbers have been proven Grin
+1

Consider this as my vote to have this thread purged once (if?) this is proven to be real, and units have shipped out.
hero member
Activity: 518
Merit: 500
OK. It is almost 18:00 in Kansas. Hopefully tomorrow I wake up and all this scam thread can be deleted and the numbers have been proven Grin
hero member
Activity: 504
Merit: 500
Cheesy

OK, i'm coming to scam you.

i will invent a mining box which is 1.5Gh/s @ <50W, and the price will less than 999$. IN next 6 MONTHs time. and no pre-order, just open for sale~

do you believe me?

 Grin

if you believe, why not just wait and do not order BFL's product. it seems you can not get anything for next few month from BFL.

if you don't believe, why now you trust BFL?

 Grin

  One, I don't think you would scam anyone as it would take away mental resources you use for legitimate projects. =)

  I do believe it is quite possible you or some of the others here could come up with something, NRE cost aside, that could produce the numbers you mention in playing.

  The reason not to wait 6 months is becasue money(especially USD) just sitting there is actually losing value, for the most part. Verses, invest it for 6 months in BFL hashers, sell them for a discount when your new magical unicorn comes out. profit.  Grin
donator
Activity: 1731
Merit: 1008
We plan on meeting at 16:00 ... I have some other engagements afterwards, so I won't be able to post in regard to it until mid-evening time CST when I get home.

We're behind you, do you best and bring us some hard numbers Wink
legendary
Activity: 1022
Merit: 1000
BitMinter
We plan on meeting at 16:00 ... I have some other engagements afterwards, so I won't be able to post in regard to it until mid-evening time CST when I get home.

You're the man ! Hope it is good news.
legendary
Activity: 2128
Merit: 1073
Meh, can't play BF3 on an FPGA so it's completely useless to me.
Dude, you don't know what you are missing. FPGA programming is like playing a combination of Tetris, chess and contract bridge on a board few millimeters-square, all at the same time. Great fun for the cold winter evenings! The cracks for the FPGA games are available on the usual sites.
donator
Activity: 1218
Merit: 1079
Gerald Davis
Meh, can't play BF3 on an FPGA so it's completely useless to me.
This ^ is why I don't expect a huge change in the network hashpower. Perhaps some change, but not enough to be remarkable.

Also my guess is you would see mostly substitution.

Say 1 TH of FPGA are sold.  Difficulty increases by 15%.  The most marginal miners are even more marginal.  Some of them call it quits.  So even if it isn't D&T replaces 1 GH of GPU w/ 1 GPU of FPGA the increasing efficiency of the network will drive down the price : difficulty ratio making marginal miners uneconomical.  Replacement will happen.

We won't be Network hashing power = 8000 GH of GPU + 1000 GH of FPGA. 
It will be Network hashing power = 8000 GH of GPU + 1000 GH of FPGA - x GH of GPU power idled.
sr. member
Activity: 349
Merit: 250
Meh, can't play BF3 on an FPGA so it's completely useless to me.
This ^ is why I don't expect a huge change in the network hashpower. Perhaps some change, but not enough to be remarkable.
This is evolutionary not revolutionary. As some others have said the major selling point is power consumption.  The other factor is the price of bitcoin.  Should bitcoin go back to say $15, I guarantee that GPUs will be mining bitcoin.
rjk
sr. member
Activity: 448
Merit: 250
1ngldh
Meh, can't play BF3 on an FPGA so it's completely useless to me.
This ^ is why I don't expect a huge change in the network hashpower. Perhaps some change, but not enough to be remarkable.
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