Topic: Butterfly Labs loses Lawsuit... 39 million - page 2. (Read 1999 times)

These people made big promises and could not deliver, well I think they knew they would not be able to deliver, but they still took the orders. I also nearly fell for this, but a friend pointed me to a friend that had problems with them and I decided to hold out.

It would have been a huge mistake and could have drained all my funds at the time. Strange how greed clouds your judgement. 

I learned my lesson w/ these guys back in the 2013 summer and this pre-order BS. Don't do it, just save your coins - I mean it with all sincerity. I wasted 13 coins at that time on this garbage; want to be me? Profit: .3 in today's dollars. All newcomers should not look to mining to gather more coinage, just spent more of said coinage for naught. The difficulty goes sky-high during pre-orders (and normally during any period) and beyond so your miner that may come in the next few-to-6months will get you nothing. Buying and holding is precious and not part of some BS talk, can't stress it enough. You're saving BTC and money by checking out what I'm saying, not trying to cut you out of easy BTC. Don't do it and fall for it, I wish I had back my 13 and another 20ish that I spent on mining contracts from back then. Saving/holding is way undervalued in this BTC world - never let them go to anyone or you're gonna fail.

Prices are getting too high at this point to be able to play the trial and error in the mining game and be able to recover ever and have a decent BTC stash as prices keep going up in this next bull market. Hold and do not play around; this is your final advice as there are no ez fixes to getting more money here. If I placed my address below like others, I'd expect many coins in general from onlookers but I want none of them, just due diligence for newer types to do what's right for them in this crucial period. Mainstreet won't be able to keep up after this next rally upwards, so now is your chance and do not squander this opportunity. You can thank me later, just buy and hold (don't invest or mess around w/ your BTC as you go forward). Any Q?, ask (PM) before you screw yourself on a fast faulty mess-up that just profits the traders and the like.

Hashtrade send BFL the $1M via BTC downpayment to a newly created bitcoin wallet address. The funds were then moved to another address. Then moved again to the infamous 1QAHVyRzkmD4j1pU5W89htZ3c6D6E7iWDs bitcoin wallet address eventually taken over by the FTC, later to be returned to BFL. It was that address that BitPay, HashTrade and BFL showed the world proof that the transaction was legit, alluding to the address belonging to HashTrade. BitPay remitted $1M USD to BFL's bank account.

The other problem with that $1M worth of BTC is that what was processed was not even HashTrades bitcoins, but of those earlier mined by BFL, with BitPay acting as an exchange and not as a third-party payment processor, the latter of which they're only licensed to do. You, I nor anybody else can send $10 USD worth of bitcoins to BitPay and have them send you said amount to your bank account. Yet, BFL did such to the tune of over $10M USD over the course of over a year, stopping the practice hours before the FTC locked the place down.

Saying that the FTC fucked up is an understatement.

Sadly, they won't pay it.
What was lost by people is lost forever :/. Hope u didn't invest there.

this is greed fine i guess    , i dont think they are planning to settle the amount ,but made a good rep with this case 

Sorry guys, doesn't look like you're getting anything back... at least for a while. It's almost like, if you're a corporation, the more you steal the more you're able to get away with.

I almost placed an order for a miners from BFL but the "pre-order" put me off...

Maybe they can pay back in bitcoins?

Interesting... I added my name to the class action suit.

http://www.pcworld.com/article/3034977/butterfly-labs-cant-afford-the-39m-fine-to-settle-charges-it-duped-bitcoin-hopefuls.html