Would it be beneficial to mine on their own devices? Hell yes! More than just selling them.
No. It wouldn't. Thanks for discrediting yourself very early on.
Topic: Butterflylabs Huge SCAM - page 175. (Read 415652 times)
ASIC are not power hungry like GPU's which is part of the appeal!
Then people will buy MORE asics than they did with gpu. So the 1th/s will mine even less 
ASIC are not power hungry like GPU's which is part of the appeal!
And you kids will be the ones crying after everyone else is mining 1TH/s.
If everyone else is mining at 1TH/s we're back to no profit for the average miner. You only make a profit if you are "lucky" enough to get an EARLY ASIC or you have access to free power. 
And you kids will be the ones crying after everyone else is mining 1TH/s.
Or your crying over lost bitcoins? Im just saying there is two sides to that lol. I have a pre-order so I'm hope your right lol.
volavak : you should start a bet at http://betsofbitco.in/ , you could make some coin if you are right.
And you kids will be the ones crying after everyone else is mining 1TH/s.
+1 
And you kids will be the ones crying after everyone else is mining 1TH/s.
There is nothing new here. These are all old allegations, many of which are not quite correct. I wonder what the OP motive is?!
They will ship, it will be late, but they will ship. Then there will be an outcry from all those who didnt jump in at the start thats its so unfair.
You pays your money you takes your chance!
They will ship, it will be late, but they will ship. Then there will be an outcry from all those who didnt jump in at the start thats its so unfair.
You pays your money you takes your chance!
What doesn't feel right to me about BFL is their customer service.
I had placed an order for two Single SCs and prior to sending the wire transfer I asked them whether there would be any guarantee that they will ship the units to me before the end of the year, otherwise I'd request my money back. The answer I received was pretty elusive, that they would start shipping, but they can't guarantee whether I'd be getting mine or not in the first batch(es).
I think any company that runs its business solidly should know the answer to that question. It's simple math: We have X preorders and we're producing Y units in our first batch. We do, or do not, have your order covered.
Needless to say, I backed out of my order with them. Btcfpga's ASIC seems to look a lot better now.
That said, I don't believe they are a scam, I believe they will eventually ship their asics, just not to everyone, and a lot of people will be left behind and probably never recover their investment.
I had placed an order for two Single SCs and prior to sending the wire transfer I asked them whether there would be any guarantee that they will ship the units to me before the end of the year, otherwise I'd request my money back. The answer I received was pretty elusive, that they would start shipping, but they can't guarantee whether I'd be getting mine or not in the first batch(es).
I think any company that runs its business solidly should know the answer to that question. It's simple math: We have X preorders and we're producing Y units in our first batch. We do, or do not, have your order covered.
Needless to say, I backed out of my order with them. Btcfpga's ASIC seems to look a lot better now.
That said, I don't believe they are a scam, I believe they will eventually ship their asics, just not to everyone, and a lot of people will be left behind and probably never recover their investment.
Thanks for the heads up.. Its because of people like you, the world is a better place 
You're welcome.
I thought about it more:
Do you know why they encourage paying with bitcoins?
Quote
Please be aware that your order date is set at the time payment is received, so we recommend Bit-Pay due to it's faster processing time as compared to bank wire transfer. When ordering via Bankwire Transfer, our sales agent will respond with the appropriate payment instructions so that you may make payment and complete your order.
Because BTC is much more easier to run away with than with cash. I wonder how many people actually paid by wire. Zero?
Do you know how many serious companies accept BTC?
Even if the CEO had legit intentions...
... he is doing illegal business! Remember he is under supervised release and even if HE won't run with your money, he could be arrested and sentenced. Do you know what will happen with your BTC then? Do you know that governments usually give a fuck about BTC because it is NOT A CURRENCY?
heal the world
Thanks for the heads up.. Its because of people like you, the world is a better place
I myself was VERY excited about those BFL SC things (http://www.butterflylabs.com/products/), but it sounded too good to be true. I was one step before pre-ordering the Mini Rig 'SC' for just $30k, which could deliver 1TH/s (update -> 1.5 TH/s according to the website now!). You know what? Bullshit.
Is butterfly labs mining with those ASICs at the moment? (https://bitcointalksearch.org/topic/is-butterfly-labs-mining-with-those-asics-at-the-moment-110290)
Hell no! Do you see some huge raise in hashing power? No.
Would it be beneficial to mine on their own devices? Hell yes! More than just selling them.
You know the true reason why they are not mining with them? They can't. They don't have them.
But they have already proven legit! They fullfiled the orders and delivered FPGAs!
Sure they have. Gained your trust. And will take them back. And you will pay even more. You will loose your working FPGAs and also money. Huge money.
They still could have runned before..
They could, but why would they? Establish trust. Then run away.
They could have stolen $1M.
Now they have $30M and the hardware. Many of you fell for it.
I still trust them.
Really? What about that the CEO is a fraduster, sentenced to 3 years in prison and is currently released and violating the terms?
As always, I feel terribly sorry for all you guys.
Is butterfly labs mining with those ASICs at the moment? (https://bitcointalksearch.org/topic/is-butterfly-labs-mining-with-those-asics-at-the-moment-110290)
Hell no! Do you see some huge raise in hashing power? No.
Would it be beneficial to mine on their own devices? Hell yes! More than just selling them.
Quote from: Desolator link=topic=110290.msg1200110#msg1200110
If circumstantial evidence isn't enough, try simple business logic. The price is set at $149 for a 3500MH/s chip. At current prices, they would make $149 after about 10.8 days of mining! So why doesn't Butterfly Labs just run them for 10.8 days instead of selling them? Then they'd have $149 and the chips lol. I mean seriously, read those last 2 sentences again, people. You think they're not mining with them? I can't be the only one that realizes this. From a business perspective, if you had an investment that would pay off 200% in a month and you sell it off instead, you're a crazy person.
You know the true reason why they are not mining with them? They can't. They don't have them.
But they have already proven legit! They fullfiled the orders and delivered FPGAs!
Sure they have. Gained your trust. And will take them back. And you will pay even more. You will loose your working FPGAs and also money. Huge money.
Quote
Trade in terms: Qualifying trade in for upgrades can be either an older generation Mini Rig or 25 older generation Singles. Once your new rig is ready for delivery (currently scheduled for November), you'll be notified to ship your trade in units to us. Upon receipt we'll release your new Mini Rig SC for shipment to you.
They still could have runned before..
They could, but why would they? Establish trust. Then run away.
They could have stolen $1M.
Now they have $30M and the hardware. Many of you fell for it.
Quote from: squall1066 link=topic=89685.msg987282#msg987282
Total Orders (By last seen) 7678
Orders Tracked 227
Trade-In Orders 66
Units Sold
Jalapeno SC 225
Single SC 231
Mini Rig SC 21
Extended TH
Jalepeno SC 0.7875
Single SC 9.24
Mini Rig SC 21
Grand Total of 31.0275
Orders Tracked 227
Trade-In Orders 66
Units Sold
Jalapeno SC 225
Single SC 231
Mini Rig SC 21
Extended TH
Jalepeno SC 0.7875
Single SC 9.24
Mini Rig SC 21
Grand Total of 31.0275
I still trust them.
Really? What about that the CEO is a fraduster, sentenced to 3 years in prison and is currently released and violating the terms?
Quote from: elux link=topic=110805.msg1206567#msg1206567
September 15, 2010
UNITED STATES OF AMERICA v. SONNY VLEISIDES
...
The defendant is hereby placed on supervised release, effective immediately, for a term of three years under the following terms and conditions:
...
The defendant shall not engage, as whole or partial owner, employee or otherwise, in any business involving loan programs, gambling or gaming activities, telemarketing activities, investment programs or any other business involving the solicitation of funds or cold-calls to customers without the express approval of the Probation Officer prior to engagement in such employment.
UNITED STATES OF AMERICA v. SONNY VLEISIDES
...
The defendant is hereby placed on supervised release, effective immediately, for a term of three years under the following terms and conditions:
...
The defendant shall not engage, as whole or partial owner, employee or otherwise, in any business involving loan programs, gambling or gaming activities, telemarketing activities, investment programs or any other business involving the solicitation of funds or cold-calls to customers without the express approval of the Probation Officer prior to engagement in such employment.
As always, I feel terribly sorry for all you guys.
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