Topic: BFL is Probably doing fine financially. - page 2. (Read 2580 times)
Chiro, you aren't making any sense. Listen to what people are trying to tell you. Your assumptions are bad and your "guess" that they have 100,000+ BTC is outrageous.
Can't use preorder money like that, its fraud. In the same way I can't sell you a computer delivered in 6 weeks and gamble it all in the mean time.
Please indicate where I suggested they use pre-order money to buy bitcoin. I didn't. I'm under the impression BFL had *some* capital to start up with, especially considering they had been producing and selling FPGA devices long before preorders for ASIC started.
The one with 100m coins in circulation, or the one with 200m coins in circulation.
Do you have any idea what you are talking about? How did you even get out of the newbie lock on the forum without discovering the basics of bitcoin? There will never be more than 21M bitcoin. Mining produces coins at a very regular rate, thanks to difficulty adjustment, and ASIC certainly won't mine more coins than GPU. I think you need to go read some basic FAQ about bitcoin before making idiotic statements about them that aren't true.
If they had 10 million bitcoins, why would they bother failing at this? Why would they invest in generating more bitcoins for other people to devalue their $200 million in coins they hold themselves?
Get a clue, they're f*****
Maybe you are not good at math. BFL announced the ASIC devices when BTC were $8 each. They could have picked up $100k worth of BTC as a side investment ($100k being a small percentage of their total capital required to manufacture ASICs) in their market, which would be worth $2.8 million today.
Also, if you think ASIC will devalue bitcoins, you need to look at some history. Difficulty increases have resulted in value increases EVERY SINGLE TIME. Not once has the difficulty skyrocketed while price crashed, never.
Because of outside factors.... supply and demand rules stay the same. If people love bitcoins and they want to invest, which scenario is going to hold a higher value... The one with 100m coins in circulation, or the one with 200m coins in circulation.
If they had 10 million bitcoins, why would they bother failing at this? Why would they invest in generating more bitcoins for other people to devalue their $200 million in coins they hold themselves?
Get a clue, they're f*****
Maybe you are not good at math. BFL announced the ASIC devices when BTC were $8 each. They could have picked up $100k worth of BTC as a side investment ($100k being a small percentage of their total capital required to manufacture ASICs) in their market, which would be worth $2.8 million today.
Also, if you think ASIC will devalue bitcoins, you need to look at some history. Difficulty increases have resulted in value increases EVERY SINGLE TIME. Not once has the difficulty skyrocketed while price crashed, never.
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I'm not talking about orders, I'm talking about holdings and investment.
Yeah, me too.Quote
If BTC crashes down to nothing or close to nothing, BFL is finished anyway: nobody will pay thousands of dollars for an ASIC that mines BTC worth pennies. They were already betting on BTC success through millions of dollars worth of investments, would it makes sense for them to bet on bitcoin with a least a few thousand dollars worth of actual BTC holdings?
If BTC was worth $2 tomorrow, they would be finished- nobody is going to buy an ASIC to mine $2 coins. They lose no matter what if BTC crashes, so they might as well have bought some when it was low.
If BTC was worth $2 tomorrow, they would be finished- nobody is going to buy an ASIC to mine $2 coins. They lose no matter what if BTC crashes, so they might as well have bought some when it was low.
Not true IMO. While they might not take any new orders, they have plenty of existing orders to fulfill. If they held onto BTC and market crashed THEN they would be in trouble and unable to fulfill any orders/refunds. If they exchanged to USD then they simply fulfill the massive amount of existing orders and then close up shop if there is no longer interest in their product.
A lot of speculation about how they are bleeding money and losing pre-orders right and left. However, think about the basis of their business for a minute. If bitcoin fails, they fail. Wouldn't it be logical for them to make at least a modest investment in bitcoins directly if they are going to invest millions in ASIC development?
I'm guessing that BFL probably has tens of million worth of bitcoin stockpiled (remember, they were around back when BTC was a small fraction of the current price), and is in no danger at all of going under or failing due to lack of funds.
I'm guessing that BFL probably has tens of million worth of bitcoin stockpiled (remember, they were around back when BTC was a small fraction of the current price), and is in no danger at all of going under or failing due to lack of funds.
If they had 10 million bitcoins, why would they bother failing at this? Why would they invest in generating more bitcoins for other people to devalue their $200 million in coins they hold themselves?
Get a clue, they're f*****
I'm sure they exchanged all BTC for USD to avoid the volatile markets from wiping out their funds. I am sure they are funding their operation in USD so it would be smart as nobody can promise that BTC won't be worth $2 tomorrow.
I'm not talking about orders, I'm talking about holdings and investment.
If BTC crashes down to nothing or close to nothing, BFL is finished anyway: nobody will pay thousands of dollars for an ASIC that mines BTC worth pennies. They were already betting on BTC success through millions of dollars worth of investments, would it makes sense for them to bet on bitcoin with a least a few thousand dollars worth of actual BTC holdings?
>I am sure they are funding their operation in USD so it would be smart as nobody can promise that BTC won't be worth $2 tomorrow.
If BTC was worth $2 tomorrow, they would be finished- nobody is going to buy an ASIC to mine $2 coins. They lose no matter what if BTC crashes, so they might as well have bought some when it was low.
A lot of speculation about how they are bleeding money and losing pre-orders right and left. However, think about the basis of their business for a minute. If bitcoin fails, they fail. Wouldn't it be logical for them to make at least a modest investment in bitcoins directly if they are going to invest millions in ASIC development?
I'm guessing that BFL probably has tens of million worth of bitcoin stockpiled (remember, they were around back when BTC was a small fraction of the current price), and is in no danger at all of going under or failing due to lack of funds.
I'm guessing that BFL probably has tens of million worth of bitcoin stockpiled (remember, they were around back when BTC was a small fraction of the current price), and is in no danger at all of going under or failing due to lack of funds.
It depends if "they" holding plenty of BTC is BFL or the inviduals behind it. Most likely Josh&Co won't pump their private funds into BFL if they have a change to shut it down cleanly with bankruptcy and blaim that on trolls and massive refunds.
BFL would be dead many times already if they didn't continue the fraudulent advertising with impossible delivery date promises.
Refunds are hitting them hard already, thats a partial reason to the increased prices. "All sales are final" is completely aimed to avoid refunds in the future.
I'm sure they exchanged all BTC for USD to avoid the volatile markets from wiping out their funds. I am sure they are funding their operation in USD so it would be smart as nobody can promise that BTC won't be worth $2 tomorrow.
A lot of speculation about how they are bleeding money and losing pre-orders right and left. However, think about the basis of their business for a minute. If bitcoin fails, they fail. Wouldn't it be logical for them to make at least a modest investment in bitcoins directly if they are going to invest millions in ASIC development?
I'm guessing that BFL probably has tens of million worth of bitcoin stockpiled (remember, they were around back when BTC was a small fraction of the current price), and is in no danger at all of going under or failing due to lack of funds.
I'm guessing that BFL probably has tens of million worth of bitcoin stockpiled (remember, they were around back when BTC was a small fraction of the current price), and is in no danger at all of going under or failing due to lack of funds.
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