any opinion on what would happen next?
https://bitcointalk.org/index.php?topic=150803.8120
Topic: BFL shut down by FTC today? (Read 2815 times)
FTC was answering questions on twitter about BFL @FTC. Scroll down to sept 23rd to see the questions/responses.
Goto their website and see the official notice.
Link: http://arstechnica.com/tech-policy/2014/09/feds-label-bitcoin-miner-maker-butterfly-labs-as-systematic-deception/
All the warning signs were there but they did produce two chips so it was really hard to tell.
Complaint dated 09/15/2014: https://www.documentcloud.org/documents/1303732-5.html
All the warning signs were there but they did produce two chips so it was really hard to tell.
Complaint dated 09/15/2014: https://www.documentcloud.org/documents/1303732-5.html
Looks like the FTC filed a civil suit and they did a liaison with Kansas to send in agents.
Like I said in another thread. I believe "something" happened. Did they get raided, took all their computers, etc? no. but something definitely happened, like the FTC came in with a warrant and searched for whatever they are looking for to build their case. I believe BFL is business as usual. But that will probably change when they start issuing summons..
If nothing happened. Josh, inababa, whatever, or the other bfl trolls would be here saying that we are full of shit.. Thats not happening, thats why I think something happened, just not as bad as the first report made it seem.
If nothing happened. Josh, inababa, whatever, or the other bfl trolls would be here saying that we are full of shit.. Thats not happening, thats why I think something happened, just not as bad as the first report made it seem.
I don't believe the FTC has any agents. They are a bunch of lawyers enforcing "unfair trade practices" and they normally go to court and get injunctions, orders, and fines. Their actions are listed at http://www.ftc.gov/enforcement/cases-proceedings. I believe if there is criminal conduct that need agents they refer it to other agencies to take criminal enforcement.
I found it, the FTC criminal liaison unit works with other agencies if agents are needed:
http://www.ftc.gov/enforcement/criminal-liaison-unit
All federal agencies have "agents" that have the authority to arrest (when legal to do so).
No, all agencies do not have armed agents. Here is the list that do:
http://www.bjs.gov/content/pub/pdf/fleo08.pdf
Like I said in another thread. I believe "something" happened. Did they get raided, took all their computers, etc? no. but something definitely happened, like the FTC came in with a warrant and searched for whatever they are looking for to build their case. I believe BFL is business as usual. But that will probably change when they start issuing summons..
If nothing happened. Josh, inababa, whatever, or the other bfl trolls would be here saying that we are full of shit.. Thats not happening, thats why I think something happened, just not as bad as the first report made it seem.
If nothing happened. Josh, inababa, whatever, or the other bfl trolls would be here saying that we are full of shit.. Thats not happening, thats why I think something happened, just not as bad as the first report made it seem.
I don't believe the FTC has any agents. They are a bunch of lawyers enforcing "unfair trade practices" and they normally go to court and get injunctions, orders, and fines. Their actions are listed at http://www.ftc.gov/enforcement/cases-proceedings. I believe if there is criminal conduct that need agents they refer it to other agencies to take criminal enforcement.
I found it, the FTC criminal liaison unit works with other agencies if agents are needed:
http://www.ftc.gov/enforcement/criminal-liaison-unit
Like I said in another thread. I believe "something" happened. Did they get raided, took all their computers, etc? no. but something definitely happened, like the FTC came in with a warrant and searched for whatever they are looking for to build their case. I believe BFL is business as usual. But that will probably change when they start issuing summons..
If nothing happened. Josh, inababa, whatever, or the other bfl trolls would be here saying that we are full of shit.. Thats not happening, thats why I think something happened, just not as bad as the first report made it seem.
If nothing happened. Josh, inababa, whatever, or the other bfl trolls would be here saying that we are full of shit.. Thats not happening, thats why I think something happened, just not as bad as the first report made it seem.
I don't believe the FTC has any agents. They are a bunch of lawyers enforcing "unfair trade practices" and they normally go to court and get injunctions, orders, and fines. Their actions are listed at http://www.ftc.gov/enforcement/cases-proceedings. I believe if there is criminal conduct that need agents they refer it to other agencies to take criminal enforcement.
I found it, the FTC criminal liaison unit works with other agencies if agents are needed:
http://www.ftc.gov/enforcement/criminal-liaison-unit
Like I said in another thread. I believe "something" happened. Did they get raided, took all their computers, etc? no. but something definitely happened, like the FTC came in with a warrant and searched for whatever they are looking for to build their case. I believe BFL is business as usual. But that will probably change when they start issuing summons..
If nothing happened. Josh, inababa, whatever, or the other bfl trolls would be here saying that we are full of shit.. Thats not happening, thats why I think something happened, just not as bad as the first report made it seem.
If nothing happened. Josh, inababa, whatever, or the other bfl trolls would be here saying that we are full of shit.. Thats not happening, thats why I think something happened, just not as bad as the first report made it seem.
The first thing I would have closed, if I were the FTC, would have been their online presence. Sounds like bullshit, possibly just to talk of BFL.
They were probably looking for documents related to some kind of fraud. The FTC generally does not have the authority to shut down a business, however they can make it effectively the only decision the business owners can make. 
The first thing I would have closed, if I were the FTC, would have been their online presence. Sounds like bullshit, possibly just to talk of BFL.
They were probably looking for documents related to some kind of fraud. The FTC generally does not have the authority to shut down a business, however they can make it effectively the only decision the business owners can make.
I keep an alert for Butterfly Labs on Twitter and Google Alerts; so far, most of the reports are unconfirmed. I'm definitely interested in the developments. Their telephone number (1-800-809-MINE) is always on constant voicemail. They are obviously too hard at work building miners (not).
The first thing I would have closed, if I were the FTC, would have been their online presence. Sounds like bullshit, possibly just to talk of BFL.
They were probably looking for documents related to some kind of fraud. The FTC generally does not have the authority to shut down a business, however they can make it effectively the only decision the business owners can make.
The first thing I would have closed, if I were the FTC, would have been their online presence. Sounds like bullshit, possibly just to talk of BFL.
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