Topic: {BFL} Why The Monarch Might Just Work - page 2. (Read 5994 times)

I can't fathom anyone ordering a Monarch.

Sure the Monarch is a good idea -- if BFL could actually deliver it.

You have to be full on retarded to trust anything this company says by now, seeing their track record. Sorry, not sure how else to say it. I can't understand how any rational person would think they are going to somehow be able to pull off this magic product without being late.

Already looks like they are pushing the '2 weeks later' delivery to Feb., not Nov.   https://forums.butterflylabs.com/monarch-discussion/4420-what-monarch-group-order.html

More BTC = More USD
Less BTC = Less USD

You cannot get more USD out of less BTC!

Haha this is true no one that bought from BFL made any profit. Those who paid in $ would have done better buying BTC directly.

And some like mining

He's just a shill for BFL.

lol. While, they were promised a product in October, when the difficulty was orders of magnitude less. Not sure if there is an english barrier, or you're just a shill for BFL. Anyone that thinks these yahoos that invested hundreds of bitcoins into a product that was delayed longer than it takes to have a baby come to full term, is simply, stupid.

The reason is that people who buy ASIC mining equipment don't realize they are buying a variable stream of bitcoins. There is little else of value in ASIC mining equipment other than the bitcoins that come out of it. Therefore the mining equipment can be easily compared to a fixed amount of bitcoins. Both are purchases of Bitcoins, so there is no "if my aunt had balls, she'd be my uncle" issue. It is just choosing a vendor and product to get your bitcoins from. Some vendors are good, others are bad.  Some products are good (variable annuity from Avalon Batch 1), others are bad (variable annuity BFL Single).

Basically if you already got stuck may as well give in mentality

The reason people keep misunderstanding each other on this point is that some are aiming for more USD, others are aiming for more BTC. 

Except you were spending a fixed amount of coin to buy a future variable stream of coins. Very similar a variable annuity from an insurance company. The inputs and outputs were in the same unit. Bitcoins in, bitcoins out. There is no way to justify spending 200 bitcoins to receive 120 (more or less depending on the date received and future difficulty). There is no uncertainty, there is no gambling. Under what circumstances is it good to pay $200 for a financial product that will return you $120? Why would you pay an insurance company $200 (or it's equivalent) for an annuity that caps the payout at $120? You wouldn't.

As for the Apple shares analogy:
Would you have traded 200 shares of Apple back when they were worth $20 for 120 shares of Apple when they were worth $500? After all, the 200 shares were only worth $4000 and the 120 shares are worth $60,000!
Explain the circumstances under which that would be a good idea.

This might be true, if they bought a pizza, or a shoe, or a car  (which btw are not investments).
But they didn't, they bought a complex future option for more Bitcoins. Like most options, this one has a decaying time value. The fact that it is packaged in the form of silicon is idiosyncratic of Bitcoin.

The greater fool method of profit was the only way to profit for people who bought BFL.

Agreed, when you spent your coin you based your purchase on their current fiat market value.
You could've easily spent those coins on something else of equal fiat value (like slippers) - doesn't mean you bought slippers for thousands of dollars... market was different back then, just as $10 used to fill the fuel tank of your car a few years ago... so seriously... this tired old comparison is irrelevant - sick of reading it.
The market value at the time of purchase is what was spent. As is the case with any currency or asset.

I do, however feel that even early adopters lost out on BFL... sure - they did earn some money, but what a fuck around they went through - strung along all that time - the ones who did truly well were those who received their unit, mined with it for awhile then ebay'd it and washed their hands of BFL and learnt from it.

In my country we have a proverb for this kind of BS retro/futur predication  :

"If my aunt had balls this would be my uncle"

I have another one for you : Why haven't you buy some APPLE shares when they were cheap ? You'd be a millionaire !!! Why ? whhhhyyyyyyyy !!!!  

Please.

I'm talking about the ROI for early buyers.
Not some "If" talk.

They spent 200 bitcoins, now worth over 22000 dollars. They should have kept their bitcoins. They lost. Big!

Some Singles (60gh/s) was shipped around 24-25 june 2013.
Diff was 19.34 MM
1 month after the diff was 31.26 MM

In 1 month a Single owner make some 5200 dollars...(and can make more extra putting this on Ebay...)

Ohh no...they won anything...nononono...

What exactly do you mean there. Are you talking about the people that paid a year ago and theirs shipped first? Or people like luke-jr and a couple of reviewers that got the first ones?

Besides the first free ones they gave away, I hardly would say that anyone that preordered the first day won anything...

ROFL

Lets be honest for a second here.  Anyone who can google something, can easily learn about the entire asic design process.  Maintaining realistic expectations is not that hard.  After the news came out that the chip was over budget on power and cooling, anyone who did any sort of homework on this would have known thats a 6 month fuckup there.  BFL sure as shit isn't going to start trumpeting this in the middle of trying to get this off the ground.  I wouldn't expect them to. 

My only regret is that they should have only produced 1 line which was the minirigs.  Then all the stupid people who were trying to buy $300 worth of rigs would have had to go elsewhere.  Letting 15 year olds purchase $300 jala's because their parents pay for electricity and then listening to them bitch and complain for the last year because they didn't win the shipping lotto is really the most annoying part to the entire thing. 

I think you mean Vaas Montenegro.

No, for real: This quote is misattributed to Einstein often. However, Einstein was long dead when the quote first surfaced in the 1981 edition of Narcotics Anonymous' "Basic Text".

Your best option, OP, would have been to cancel your preorder and get a refund from BFL.


There is no reason to believe they will ever ship this new product.

It's amazing how quickly people forget. Recall back in October of last year when they said they would be shipping in late Oct/earl Nov. Did that happen?

Remember in January when they actually gave a date they said they would begin shipping. Feb 10, I think it was...

And it went on and on. And all that time they didn't even have a chip yet!!

Seriously, anyone who orders anything from BFL now is an idiot. I know people seem bitter, but it is not without good reason. They been claiming they would ship in a few weeks for over a year now.

"God doesn't play dice."
Albert Einstein