Butterflylabs Huge SCAM - page 170. | Bitcointalksearch.org

Kontakt

sr. member

Activity: 266

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Quote from: Darkchild on October 08, 2012, 06:22:45 PM

How many people here are currently using the BFL rigs?

Did any one experience a delay, or has anyone here spoken to anyone at the BFL head office?

It shouldn't be hard for BFL to show some live demo of their new rigs for everyone to see especially with all of the pre-orders that they're getting right now.

I'm pretty sure no one has one yet, none have shipped insofar as I know.

Darkchild

newbie

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How many people here are currently using the BFL rigs?

Did any one experience a delay, or has anyone here spoken to anyone at the BFL head office?

It shouldn't be hard for BFL to show some live demo of their new rigs for everyone to see especially with all of the pre-orders that they're getting right now.

Kontakt

sr. member

Activity: 266

Merit: 250

Quote from: BTC-TradingCo on October 08, 2012, 01:57:11 PM

I think they'll deliver eventually. I also think that within a few months of them being delivered any benefit to owning them will be greatly reduced, as the more they sell, the less BTC you'll get out of them.

And the longer they take to get to YOUR order, the less you'll make.

That's why I've pretty much nixed any plan to obtain one at this point in time.

BTC-TradingCo

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Merit: 10

I think they'll deliver eventually. I also think that within a few months of them being delivered any benefit to owning them will be greatly reduced, as the more they sell, the less BTC you'll get out of them.

Kontakt

sr. member

Activity: 266

Merit: 250

That's one of the problems I have with it. We have the render of the final product, and the two(?) photos of circuit boards being held by gloved hands.

BrannigansLaw

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Activity: 603

Merit: 500

I just find it weird how there is not 1 bit of evidence they exist. Why don't they release a video of one working as a beta or something...

Kontakt

sr. member

Activity: 266

Merit: 250

Quote from: Richy_T on October 08, 2012, 11:44:10 AM

I believe that there are some investments that could legitimately return 10% in a month too.

Totally, based on what you define an investment as. If you use your money properly, it's quite easy to make an almost certain profit. Using Forex strategies on the Bitcoin market, and selling coins on the side has made me about $100 in the last 2 days.

Richy_T

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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k

Quote from: bce on October 08, 2012, 05:48:12 AM

If you believe in the future of Bitcoin, and also that a company can develop a full custom ASIC that will harden the security of bitcoin from government attack, then backing this endeavor just makes sense.

I believe that there are some investments that could legitimately return 10% in a month too.

bce

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Activity: 756

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The BFL SC chip might be the first product line to help significantly harden security for the first proven ptp crypto-currency. Profitability? Production Timing? Who knows how price vs network hashrate will play out (nobody). If you believe in the future of Bitcoin, and also that a company can develop a full custom ASIC that will harden the security of bitcoin from government attack, then backing this endeavor just makes sense. With Inaba at BFL, at least the unknown can be tackled competently during this transition.

I'd bet that no money is wasted in buying a BFL product. Trade your stinky paper with numbers on it for a tech marvel that frees the world of currency exchange from banking system control... but if you have doubts, please wait a few months in order to keep my difficulty lower while you decide Tongue

And so, yes - it's a huge scam.

Statesman

newbie

Activity: 35

Merit: 0

I typically don't get on board with the "BFL IS A SCAM OMGWTFBBQ".

That said, the fact that one of their managing execs is on parole/probation for Fraud is a little unnerving.

I'm not sure of his title, but cablepair is some form of senior management with BTCFPGA, is a frequent poster here, and seems to be an all-around stand-up guy. If I had to choose who to do business with, he would get my hypothetical dollar.

cedivad

legendary

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Quote from: SysRun on October 07, 2012, 10:46:50 PM

this thread is pointless.

Your post is.

SysRun

hero member

Activity: 616

Merit: 500

Portland Bitcoin Group Organizer

this thread is pointless.

firefop

sr. member

Activity: 420

Merit: 250

Quote from: MarkOST on October 07, 2012, 07:26:07 PM

It's literally as if they discovered a way to print free money, and instead of spending it themselves they sell it to you for 10% of the original price.

No. That would be an analogy and thus it's figurative.

Furthermore, BFL could have been using this entire development cycle to obtain huge amounts of btc whilst funding development through conventional funding. If so they've got a vested interesting in keeping the ~~treadmill~~ um ~~hamster wheel~~ I mean bitcoin going for a couple more years at least, so that their btc gains even more value. At least that's what I'd be doing if I were them.

Benatar

newbie

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Quote from: cedivad on September 30, 2012, 09:21:49 AM

Quote from: b!z on September 30, 2012, 09:10:10 AM

And you kids will be the ones crying after everyone else is mining 1TH/s.

+1

And the people that buy them will be the ones crying when enough people have ASICs that the difficulty rises and people don't make their investments back.

underminer

full member

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Not for hire.

I'm seriously skeptical about someone with 10 posts having been on this forum for long enough for that to be true as well.

Pics please.

Inaba

legendary

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You, my friend, are a liar! Pics or it didn't happen.

MarkOST

newbie

Activity: 14

Merit: 0

When the first threads on Butterflylabs started I was able to walk right up to the building.

Empty... No employees, nothing going on at all.

Then I witnessed one mega thread turn into 2-3 mega threads of people arguing and trying to figure it out.

It's exactly as the OP stated. If these machines existed then THEY WOULD NEVER SELL THEM.

Minning would be FAR MORE profitable and this company would take great strides to keep it a trade secret.

There is absolutely no advantage of flooding the market with these next generation minning machines that will make all current GPU minning obsolete - while not jumping on the bandwagon themselves.

These customers are extremely gullible. Just stop and think about it for 2 seconds.

It's literally as if they discovered a way to print free money, and instead of spending it themselves they sell it to you for 10% of the original price.

~~~~~~~~BIG OBVIOUS SCAM~~~~~~~~~

samson

legendary

Activity: 2097

Merit: 1070

Quote from: btc-bullion on October 06, 2012, 05:58:23 AM

Quote

if you can't hold it, you don't own it

even if i will be a month or so late to the ASIC party, i will be waiting for posts of successful shipments before ordering from any of the manufactures.

+1 If they were available right now I'd order one today but I'm sending no money to anyone before it's proven.

BobbyJo

sr. member

Activity: 358

Merit: 250

Why is there all this talk of scams? There is obv=iously risk associated with buying anything from any manufacturer: Will they deliver, on time, to spec etc etc. However there is also risk with not upgrading and being left behind. Its an individual choice to buy BFL or not to buy. Anything on here is pure speculation until BFL either delivers or runs off with the loot. I think that alot of what has been written on here strays into the teritory of libel! so for your sake I hope you have some proof!!

Foxpup

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Vile Vixen and Miss Bitcointalk 2021-2023

Quote from: SEC agent on October 07, 2012, 01:45:00 AM

I said it was a scam as well, but forum moderator "psy" saw it fit to delete my post. Seems to go in line with this forums policy to protect and promote scans.

Do you have proof that it's a scam? Remember, they've already delivered on their FPGAs, as promised, and they function as advertised, so they would seem to be a legitimate company, albeit one with extremely poor customer service. You can't just accuse a legitimate company of being a huge scam without evidence. You can say it might be scam, and you can list reasons why it's probably a scam, but you can't outright say it is a scam unless you have damn good evidence to support your claim.

Quote from: SEC agent on October 07, 2012, 01:45:00 AM

Funny how the whole libertarian freedom thing goes out the window once you go against the moderator's personal veiws.

You clearly have absolutely no understanding of freedom, in particular freedom of association. Freedom of association means that if a private association has certain rules, and you voluntarily agree to those rules in order to join said association, then the association's leaders have the freedom to punish you if you break the rules you agreed to. If you disagree with the rules, you have the freedom to leave and form your own association, with your own rules. You do not have the freedom to make accusations without any supporting evidence when this is against the rules you voluntarily agreed to.

Topic: Butterflylabs Huge SCAM - page 170. (Read 415652 times)