Topic: Butterflylabs Huge SCAM - page 138. (Read 415663 times)

I can`t help but wonder if Butterfly Labs used the money from all the preorders to build ASICs/FPGAs, and use them to mine for a while before shipping them out slowly...
They are sitting on a gold mine with miners, why should they not get money while its there for them to take?

This was a good read.

I just received an email from them that said they would start shipping in late September or early October.  Haven't they been stringing people out now like this since April of 2012? 

I thought about ordering one of these my main issue is the wait time.


Has anyone taken into account the amount Bitcoins are and how much more you could have made when these went on sale. This company if they have this in Bitcoin that you paid for has made a mint off of you.

Lets say you paid for bit coin around Jan before the huge spike.

Then is was around $10USD a Bitcoin - so with that logic lets break down the products they are offering. Then how much you would have if you just sat on BTC and sold them today. These will be estimates and according to the markets avg.

5gh Miner Jan 10th order would have cost you 27.4BTC - at current markets that would = $3973 not $274

25gh Miner Jan 10th order would have cost you 124.9BTC -  at current markets that would = $18110 not $1249

50gh Miner Jan 10th order would have cost you 249.9 -  at current markets that would = $36234 not $2499


This is the main thing that bothers me. Not grant it, you could still get the product and make all that money back but they are sitting on a huge amount of money and have made way more off you. No one seems to mention or see this and it leaves me baffled


* side note, that current rate I used was today $145, if they had sells when it spiked to $200 or higher that would be much much more.


I do not think they are a scam, I just think doing a preorder of this nature is stupid.

Not a scam, just really incompetent

Right now it's better to go to custom hardware forum and buy some home made asics there. Of course they will be slower per buck compared to BFL, but you will actually get them, and even if someone, sooner or later will get the BFL ASIC he will get it later than you will get yours = you will be hashing and making money, while they will be waiting for theirs.

the problem with these is that you can never be sure

Is it a scam or not? I'm interested to buy from them. thanks.

I keep thinking to order or not?

If it was all a scam, wouldn't BFL have continued to sell FPGA miners?

https://bitcointalksearch.org/topic/butterfly-labs-187600

First of all, thank you for being civil even after I was rude, that tells me something about your character.  Second of all, I apologize for insulting your character (on the forum for all to see).  Third of all, you're wrong about BFL.  The funny thing is no matter what happens you will hate them. Whether they ship or not, you will either hate them because they shipped late and you backed out, or because they kept putting off the ship dates instead of being straight forward and saying it will be months before shipment.  The thing is this: BFL shipped the FPGA's and they WILL ship ASICs and even if the difficulty went up 10 times, it will still produce ~$1500 worth of bitcoins with the 60Gh/s unit and ~$126 with the 5Gh/s units.  The truth is this, these things use a lot less wattage than any mining system out there so power costs will drop significantly;  GPU's will turn to another currency because of the difficulty to reward to power cost ratios (freeing up a lot of hashing power for ASICs, which are currently at only 30% of the BTC mining community, or so I've heard);   Considering all this,  Even if it doubles again,  these numbers will half but still pay itself off in a few months (even for the late comers); remember that with the difficulty increase, costs will likely also increase, making these number (most likely) lower than what they probably will be.

I get the idea that you either hate BFL because you had a really bad encounter, or you have your own unit on order and want to make everyone get a refund so you move up inline.   

Don't know what else to tell you so I'm leaving it at this.

Personally I believe Butterflylabs.com will deliver its first few rounds of rigs without any issue at all other than the fact that they greatly underestimated the work involved with manufacturing such chips. It is a bit unsettling that they did 100% cost pre-orders without any real promotion other than an earlier shipment than those that waited.

With that said, I still invested $2500 with the company and will not be requesting a refund unless we get well into 2014 without any real developments. As far as I can tell, they have been refunding customers that request it rather effectively.

i still wonder wether asics are a reality . cause i want to buy more gpus , i just like owning htem .

So... some rumors state they've shipped something, is that true? I still don't trust them

This actually makes me really happy. The difficulty increase from these miners would have been too much to handle.
Back to the 'ol GPU I suppose. 

Pre-orders are not an uncommon concept. I was cautiously skeptical as well, which is why I didn't actually place an order until I saw an actual device mining bitcoins.

I have been reading some articles about this place, people waiting more than 6 months for something they already ordered, they started selling before they had a finished product..

Having one of these units would be amazing. Just don't have the cash.

I guess I should have become a fat couch blogger so I could get a dev unit =/