Topic: 1GH/s, 20w, $500 — Butterflylabs, is it a scam? - page 7. (Read 123109 times)
Meh, can't play BF3 on an FPGA so it's completely useless to me.
We plan on meeting at 16:00 ... I have some other engagements afterwards, so I won't be able to post in regard to it until mid-evening time CST when I get home.
Stay safe.. They only need to kidnap you for about 24hrs whilst forcing you to post glowing reports, and they'll rake it in
We plan on meeting at 16:00 ... I have some other engagements afterwards, so I won't be able to post in regard to it until mid-evening time CST when I get home.
It's 12:43 in Kansas. If they meet this afternoon we don't have to wait that long.
10 hours to go then by the countdown. I am watching with great anticipation. If true, this really is revolutionary I think.
Hope we get results earlier
OK, i'm coming to scam you.
i will invent a mining box which is 1.5Gh/s @ <50W, and the price will less than 999$. IN next 6 MONTHs time. and no pre-order, just open for sale~
do you believe me?
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?
If this is legit, I would imagine it would greatly change the mining game. If it really does cost $600 for 1ghash than this will essentially force GPU mining out of the game would it not? I would probably continue to run my GPU miners since I already spent the money on them, but any additional capacity would be done with the BFL products.
What effect do you think these products would have on difficulty? Do you think it would raise difficutly because the majority of miners would add capacity with these new toys, or would they just replace the GPU mining that is already occuring?
Will the simplified technology promote the casual miners who seemed to have left with the price colapse back in? Would this in turn raise the dollar value.
If this technology IS real, I think it would open the door for a lot of questions going forward.
What effect do you think these products would have on difficulty? Do you think it would raise difficutly because the majority of miners would add capacity with these new toys, or would they just replace the GPU mining that is already occuring?
Will the simplified technology promote the casual miners who seemed to have left with the price colapse back in? Would this in turn raise the dollar value.
If this technology IS real, I think it would open the door for a lot of questions going forward.
You are making the assumption that people only buy GPUs solely for mining. I bought my GPU for gaming with mining in the back of my mind. Still at $200 for roughly 400Mhash I still beat it in cost per Mhash. GPU mining will never die as long as there are gamers.
I get what you're saying, I am a gamer, but I have a gaming laptop(yes, I know they are more expensive and alienware sucks etc etc but I got tired of moving my tower and monitor to my friends to game.) All my miners I made especially for mining, and a motherboard only has so many slots, eventually you hafta build another miner and purchse power supplies, RAM, motherboards etc.
I eventually would like to continue to expand my mining capacity, and if these BFL machines are legit, I would buy them over building new GPU miners for both the lower power cost as well as the resonable price per mhash. Obviously GPU mining would not completely disapear(sorry if that was the impression I gave) but the lower overhead for the additional parts make the BFL miners attractive!
I would be curious to see how many people who got involved during the spike heard about BTC from their nerdy friends and tried to get rich quick, got frustrated with the upkeep and quit when the price dropped. I feel like these new products would be attractive to casual miners as well.
Yeah give us a countdown 
Nice to see BFL respond in this crazy thread. When is that demo again ? Why so many inconsistencies about your incorporation / name ? Are the figures still on ?
dear rph please help me about the mpbm miner please... 
Given equal technology (MH per watt) - a miner's operational profitability depends on cost of electricity vs
other miners. It doesn't matter if the other guy is getting free electricity, or simply less expensive
electricity. The number of miners with free electricity is almost irrelevant. What matters is the number
of miners with less expensive electricity.
-rph
other miners. It doesn't matter if the other guy is getting free electricity, or simply less expensive
electricity. The number of miners with free electricity is almost irrelevant. What matters is the number
of miners with less expensive electricity.
-rph
The main reason to buy stuff like BFL is trying to sell is because of the low electric usage. That is the main selling point.
Which is irrelevant if you live in an apartment. Also in my case my apartment gets cold in the winter so my rig doubles as an electric heater.
That works great for the <10Gh people. But what about the 20, 50 or even 100Gh? That is not going to happen on free elc with GPU.. Atleast not on any scale that would impact global hash..
I think corporate level mining like that goes against what Bitcoin stands for anyways. The idea is to decentralize so that not one party holds all the cards. A bunch of low level miners (GPU miners such as myself) are better for bitcoin in the long run. I would actually be curious to find out how much % of the global hashing are from people such as myself and corporate level miners such as goat (no offence). I think those that do it at that level are taking a much higher gamble and I just wouldn't advise it.
Though, its completely irrelevant to the point here of 'free elctricity', I agree. But, rest assured there are those of us working on 'Corporate' size mining ventrures, not much unlike Goat and some others already in place, that will work on a share bassis. Trough these programs, the rewards from mining will be better secured in the hands of the many. Atleast that's the goal anyhows..... Can't really say much more, but just because some of us toss out big numbers like that, does not mean we intend to harvest all that for personal gain.
Cheers,
Derek
I did 10GHahs/S without the shares. If I grow to 100GHash/S it will be because I went corporate:)
What that's only 2 Rig boxes @$24,980 (Pre-order). Buy NOW! Operators are standing by! 
The main reason to buy stuff like BFL is trying to sell is because of the low electric usage. That is the main selling point.
Which is irrelevant if you live in an apartment. Also in my case my apartment gets cold in the winter so my rig doubles as an electric heater.
That works great for the <10Gh people. But what about the 20, 50 or even 100Gh? That is not going to happen on free elc with GPU.. Atleast not on any scale that would impact global hash..
I think corporate level mining like that goes against what Bitcoin stands for anyways. The idea is to decentralize so that not one party holds all the cards. A bunch of low level miners (GPU miners such as myself) are better for bitcoin in the long run. I would actually be curious to find out how much % of the global hashing are from people such as myself and corporate level miners such as goat (no offence). I think those that do it at that level are taking a much higher gamble and I just wouldn't advise it.
No offense taken, but I am not really corporate. I did a few weeks ago start selling shares in a company I just formed but I did the 10 GHash/S as a hobby and because I believe in bitcoin. I am selling no more than 30% of my company and am only selling so I can support the Global Bitcoin Stock Exchange. I am doing this as a hobby, soon I hope to be selling gold and silver over GLBSE as well. Computers and Business is where my main interests are in. Bitcoin is my sorta game. I have spent 1000's of hours setting up my rigs and getting things right and could have made more money doing other things. I just want to get into the bitcoin business world first. I have a good reputation so far and hope to keep this up.
I am not the only person who runs 10Ghash/S plus just for the hell of it.
I just used the word corporate for the lack of a better word. I am sure if I made enough on mining and was into it I would reinvest into hardware. The fact you are selling shares to your company kind of proves my point though lol. It takes massive investment and Im just not sure thats what the creator(s) had in mind when they created. 10 Ghash could be done by 1 person but not 100Ghash. At least not without being partially insane lol.
The main reason to buy stuff like BFL is trying to sell is because of the low electric usage. That is the main selling point.
Which is irrelevant if you live in an apartment. Also in my case my apartment gets cold in the winter so my rig doubles as an electric heater.
That works great for the <10Gh people. But what about the 20, 50 or even 100Gh? That is not going to happen on free elc with GPU.. Atleast not on any scale that would impact global hash..
I think corporate level mining like that goes against what Bitcoin stands for anyways. The idea is to decentralize so that not one party holds all the cards. A bunch of low level miners (GPU miners such as myself) are better for bitcoin in the long run. I would actually be curious to find out how much % of the global hashing are from people such as myself and corporate level miners such as goat (no offence). I think those that do it at that level are taking a much higher gamble and I just wouldn't advise it.
There is decentralized and then there is decentralized. VISA is centralized because it is a single entity which sets the rules.
If Bitcoin mining was done by 100 or so high wealth individuals and corporations it may be more centralized than today (maybe not if they all "solo" mined) but it would still be massive less centralized than say VISA or Paypal.
As time goes on mining will become a smaller and smaller margin business. Looking forward 20 or 30 years most users will not be mining. They will be users of the system not miners. That is an inevitability.
Lots of people buy Gold coins almost nobody mines their own gold. I would say global gold mining is decentralized given no company controls more than about 10% of annual production. Still 90% of production is done by 20 or so companies.
I have a poll on "free" electricity mining and farm size here:
https://bitcointalksearch.org/topic/poll-miners-do-you-pay-for-electricity-52756
Much too few responses to draw firm conclusions but it may give an idea.
https://bitcointalksearch.org/topic/poll-miners-do-you-pay-for-electricity-52756
Much too few responses to draw firm conclusions but it may give an idea.
The main reason to buy stuff like BFL is trying to sell is because of the low electric usage. That is the main selling point.
Which is irrelevant if you live in an apartment. Also in my case my apartment gets cold in the winter so my rig doubles as an electric heater.
That works great for the <10Gh people. But what about the 20, 50 or even 100Gh? That is not going to happen on free elc with GPU.. Atleast not on any scale that would impact global hash..
I think corporate level mining like that goes against what Bitcoin stands for anyways. The idea is to decentralize so that not one party holds all the cards. A bunch of low level miners (GPU miners such as myself) are better for bitcoin in the long run. I would actually be curious to find out how much % of the global hashing are from people such as myself and corporate level miners such as goat (no offence). I think those that do it at that level are taking a much higher gamble and I just wouldn't advise it.
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