Topic: Butterfly labs are legit. - page 2. (Read 5732 times)

I think it's annoying that you resurrected a very old thread. There's lots of discussion about this in the mining section of the forum. I wouldn't risk any money on a BFL system until they start shipping out their 2012 batch.

so butterfly labs are legit?

should I order one?

and what's the scoop on the CEO being a mail fraud felon?  and what's the scoop on him scamming over 100 million bucks on these preorders for these nonexistent orders?  and what's the scoop on bryan micon's video getting verbally attacked by that asshole. 

is he a scammer or isn't he?  if he is, why hasn't somebody blown the f$%@ whistle on him?  p.s. if the whistle is blown and it is warranted and amounts to real pressure and finds that their entire facade is just a facade, and there is no product mentioned, and they disappear

that means bitcoins price is going to crash that's 100 million bucks invested into bitcoins infrastructure down the drain stolen.  it'll put a dent on the value

I'm preparing for the whistle to be blown and I'm shifting over to litecoin I've moved all my assets to lite coin and its gone up dramatically since I have.  nobody seems to notice litecoin

thoughts?

Lol. I love flame wars. Or not very flamed wars. So i thought posting that something is legit might work!
I thought maybe pirate but he's covered enough and he's cool.

Ignorance is bliss..

Tis so weird and lot SPF people have said it but... Why don't they mine!
I know they can make millions in sales but if they don't sell them and just build a giant cluster they would control bitcoins and make millions and as they make more just add them to cluster. Then no one else would have powerfull asics.

...they still testing to fit their ambitious specs! 

i emailed them asking

Hi ,, thanks for your note.
Shipping of the new units is still anticipated to begin in late October.  We are unable to predict accurate wait times, even estimates, until shipping begins.  We do not currently have finalized specifications on the power consumption or size for the new SC units. Although we are planning on making the power consumption less and the foot print smaller, we cannot guarantee that at this time. Both of these items will be better addressed by our engineers once production is underway.

Best, AD

Any more news on when this will happen?

i placed an order for

BitForce Jalapeno  3.5 GH/s @ 150$

looking forward to it really
to bad there isnt more info out yet on them

The big difference is with gold the more effort is taken the more gold can be extracted over that period.

would BFL start mining for "future returns"?....which is very uncertain and risky as bitcoins rates fluctuate all the time...
going as high as $30 at a time to the lows of $5.....

rather then selling each machine for probably 2-3 months worth of mining each....in advance! (and when everyone has them perhaps longer than that)

Infact the more machines they make and run....the less and less they make per machine....to the point where an upgrade would be necessary..or to lower the number of machines.....and if the question is about integrity (i.e. them using advance payments to run it themselves before passing it on...well that would kill their business instantly...as the difficulty levels will increase very quickly and no one will buy their shit.

this analogy applies to websites on flippa.....people sell their genuine adsense earning websites...for 5 times ...10 times the monthly income.

why don't they keep it?.....because of "uncertainty" of the future...

can ANYONE guarantee the Exact number of bitcoins u will make after getting these asic machines? NO....hence the risk!

butterfly labs wants to pass this risk on to us....and it is happier with perhaps a lower but safer investment...its machines!

its all about risk to reward ratio...everyone is at a different level....and what may be "hey why isn't everyone doing this.."
would be  "why the hell would anyone do that" for others.

and if the "gold tool sellers" had enough man power...their "costs" would also increase... unlimited manpower would work against them....because "finding gold" is not guaranteed....it would simply increase their chances of finding it..or lets put it this way, it would increase the SPEED of finding the gold, just like bitcoin miners.

on the other hand...if they had unlimited "customers" for their gold tools...their profit is locked in....while all the gold miners are competing against each other...(like bitcoin miners are).....a simple matter of supply and demand....

but bitcoin miners are additionally making the system more stable and faster....unlike those gold miners....

Wrong. Gold tool sellers had limited man power. If they could use all of their product at once, as BFL could, it would have made more sense for them to pan for gold, just as it makes more sense for BFL to mine.

This is 100% right on. BFL is the big winner here. Not the miners.
In any environemnt that requires you to constantly update hardware to just try to get a piece of the pie the tool sellers are the only ones with a consistent income.

Butterfly labs are like the gold mining tools shops during the Gold rush in Australia long ago.

everyone thought "what could be more profitable than GOLD"....

and yes a lot of people found Gold....and got rich....but many many more DIDN'T find gold...or found so little that it was not worth their international trip at all.

However....the "tool" sellers...sold to EVERYONE....the winners and the loosers...they made "guaranteed" money.....no risk of whether they will find gold or not...

did they make less money then some of the people who found large amounts of gold? perhaps....
but did they make money then MOST of the gold finders? YES!!!

and this is exactly what is happening with butterfly labs....hell if I had a chance I would much rather be the owner of butterfly labs then have a big mining operation..they simply cannot loose.....especially with their "pre-sales"

their profits are not dependant on the latest difficulty level...
nor are they dependant on the latest exchange rates...
nor do they have to mine first and get paid later.....they are getting paid in advance! and they have certainty...they know exactly how much they are earning before selling or even producing the item...

A sale in hand is worth 2 bitcoins in the mine?
(for our "English as a second language" folks...that was a modification of "a bird in hand is worth 2 in the bush")

wishing you guys, all the success in the world! (regardless of with or without bitcoin)

Redo your calculations at about 30x.  BFL is offering 3 sizes.  The smallest is 23 times more hashes/sec per dollar than what is commonly available with GPUs, the medium one is 30x, and the big one is 33x.  I'm projecting difficulty around 70 million.

See what you've done? Happy now?

I ordered the Single SC myself and can't wait to get it. Even if the difficulty were to rise 10x, the money would still return in around two months. That's a great ROI if you ask me.

The power consumption will be lower, so even if the mining difficulty goes up, it will be worth it to replace an AMD card.

The moderators, for unkown reasons, will not let me out of the newb forum so I can add myself to the wait list for the Jalapeno's I ordered last month.

I certainly hope BFL is legit.... they mentioned in one of their threads that they have caught up to all the backlogged emails, but that is totally untrue... I emailed them twice 2 months ago and still have gotten no reply.

Ok, so it was basically the same question I sent them, but worded differently.... So I was really expecting just one reply.  I know the answer to my question now, because it didn't take me long to find it here on the forums.

I'm a paying customer now.  Still have received no reply.  It's had me a little worried...

Viel Feind viel Ehr'