Topic: Butterflylabs Huge SCAM - page 8. (Read 415626 times)

I fully understand. The thought of buying a garage full of these cheap throw away bastards and mining until my house burns down is tempting. While this one ROIed in about six weeks there's no guarantee that any Frankenminer I piece together will do the same.

That's what I don't understand about BFL. If they really intended to be thieving scumbags why not just let a few million dollars in preorder btc pour in and retire to a non-extradition beach house somewhere? Why spend all that money to set up a manufacturing plant in the most nanny police state in the world? Why develop such a sexy product? Oh sure, it's a little generic looking, like a video card with a corsair water cooler attached, but still a working product. The whole BFL story doesn't compute unless at some point they figured out their costs were just too high to realize any profit. They tried massively overcharging for the miners and lost sales because of it. They thought they could catch up on operating costs by "testing" their customers equipment for a little longer than they should. At that point, their customers realized they were mining with the equipment and turned them in to nanny government. They got caught in a spiral that they couldn't control. No true criminal would set up that kind of brick n mortar business in America, of all places, with the original intent to defraud. They got fucked by their own entrepreneurial spirit and naïveté.

The other side of the coin is the reason I never bought any ASIC miner before now. The customers are as naive as BFL is. If someone came up to you and promised to sell you a machine for $5k that could literally print money (not counterfeit money but real money) what would you think? I guarantee the first thing out of your mouth would be, "Why sell it? Just use your machine to print money for yourself." The logic of buying ASIC miners will always be lost on me. When I was a serious miner I had a huge setup that rivaled the pics I saw of Gigavps setup, box fans and all. The difference is, I was mining with video cards that were cheap in comparison to ASICs and I sold them to a ton of people that probably never heard of Bitcoin when I quit mining. You can't do that with an ASIC Bitcoin miner. There's only small group of people that you can sell to and they will know exactly when that miner becomes an expensive paperweight. Neither side of the coin makes any sense to me at all.

Been waiting for the monarchs to be below the 50 bucks range NOT WORKING .....but the heatsink and pump etc NOT leaking

I suspect (and others) that you COULD take these and put them on the knc titan 350mh miners (1 cube at least) these are scrypt miners

at that point in time if I ever wanted to try this....knc also has neptune 3TH units with similar cubes and chip size...I can get them now for 50 bucks working (1/2 speed anyway) on
ebay

so the goal would be to swap them out on the neppie cube...see if it works as a proof of concept then do so on the titan cubes

would be cool..the sad part is I bet there are BOXES  of these ..held by FTC or whatever.....too bad no access to such ..lots of knc titan owners have units more then 1 year
old running 24/7 so  many are losing some hash and are gonna delve into re-paste of the cube....add some heatsinks to some components and bigger fan per cube..hell as long as I"m doing that I"m thinking ......

alas....even BFL parts folks could use for other projects are lost in the black hole that was/is/and always will be the 'evil' that is BFL

oh well damn NO I mean NO ....big ass non commercial water cooler adaptable for KNC chips ...besides maybe these monarch water cool units....damn it ...see even its evil bfl parts...are taunting me.... bfl is still an evil temptress

ROFL

Since we're confessing I bought a BFL monarch used for $70 just for the history of it. I always wanted an ASIC for curiosities sake. What better one to buy than the first commercial manufacturers product. I figured it was toast considering the price and the company I bought it from is called wesale4you. lol    Sure enough, it arrived with two blown capacitors and a fried transistor right at the tail end of it. A friend replaced them for me and its madly hashing away at about 660 GH/s right now. I really hate to admit it but the design is pretty sexy. I love the water cooling feature. It gets crazy hot. You can fry an egg on it within 10 min of power up. That's probably why it blew out to begin with.

I need to fess up.....I have (sorta) fell off the BFL not buy wagon..sniffle ....and asic 1 night stand so to speak

Got a 60gh BFL unit for 39 bucks included the 15 or so bucks to ship such....off that 'dark web for shoppers called ebay'

.....it was a spur of the moment thing honest...won't happen again

Its intended purpose is 1) paperweight 2) ego limiting device to keep me in line and off that pre-order asic crack as I have to walk by it on the shelf....

anyway starting ASIC anonymous recovery again..yes friends...I drank the BFL kool aid and am a recovering newbie asic pre-order addict.... I start again at DAY 1....

I thank you for your understanding in this manner. Then again I have gotten my BFL 60gh unit (2yrs later) and BFL corp is dead (2yrs later)....so......

Karma sucks! (right Josh....I can feel your eyeballs on this thread yet........)

I feel dirty.....

There's still a lot of BTC at http://bitcoindf.org/. That'll provide many refunds.

But didn't they convert most of the BTC (that they are now ordered to refund in the rate at the time of purchase) to $ and funnel it to like half a dozen different banks that no one knows about? It's in Sonny's playbook from his Liberty City days....

Where's Sonny going to get $300K to pay back his BFL loan, though? Sell his left testicle?

That fucker's got a lot of splainin to do to the judge for his upcoming parole hearing.

What are the security applications of a Bitcoin ASIC and did BFL fill large orders for the "military industrial complex", could they be hiding money via some "national security" clause?

Are ICBMs really just large explosive bitcoin miners?

You have to admit that is pretty funny. They used the flawed system you were all attacking them with to launch a counter attack. As for this victory, I'm not sure a party is in order. I see no mention of any personal funds being confiscated and they are all still walking around free to scam again. The salaries paid were still used to live the high life. The btc house is still worth money. Oh sure, they were put into bankruptcy and lost the business but how many btc were mined with "testing" and squirreled away for the future? No one really knows if they paid their taxes on any btc that was converted to dollars. They might have had an accountant carefully pay all taxes when they discovered the trouble they were in. Btc never exchanged for dollars would not be taxable. If converted overseas to a different fiat the IRS will never become involved. Sorry but this sounds like a very hollow victory.

I won a restraining order because I posted a pic of Josh Zerlan's bathroom gleaned from the Internet that was taken two years prior to him moving into the BTC-House because he convinced a judge that he feared for his life because maybe I was peeking inside his master bathroom window on the second floor while standing on the front lawn through glass that's impossible to see through. HAHAHA

I also won a 1099 for services rendered at BFL in 2013 that really was a gambling debt paid by Josh to me having nothing to do with BFL. The FBI agents (plural) I spoke with got a laugh outta that one. HAHAHA

Good for you! I hope that you guys all are lucky and get a refund (I got lucky got mine 1yr 20 days late on the panic refunds 3 weeks (token) before FTC
shut them down)

Anyway....the odds may be good ...if they got a hold of all the BTC involved in this scam and you can all be redressed your funds in that manner.

I still can see them walking and getting out of this (the BFL scum) but it would be nice if all got a refund and they were all cleaned out of their BTC

imho it will be the ONLY way the IRS will settle with them in some manner individually but wtf do I know look how long it has taken to at least get this far.

Anyway hopefully it all works out in the above manner, that would be great! (and somewhat restore my faith in at least 'late' consumer protection)

Refunds!

^^^ We won! Wait, what did we win?

Well... Check out what arrived in the mail for me today.

https://www.dropbox.com/s/bbtxw0l53r0wfh3/BFL%20Case%2015CV06002.pdf?dl=1

http://imgur.com/a/RFP5n

---

Hey, maybe Leroy Fodor could take BFL's former office over. It comes complete with renewable energy.

One day Sonny Vleisides will be wheeled into a court room due to ongoing health issues just like his real dad was prior to being sent to prison thanks in part to testimony by ... wait for it ... his son, Sonny. The dude kicked his own real Daddy-O under the bus, thus he never gave a shit about any of his customers. Even his own upper-level staff despised him, along with them despising each other.

I'm still curious as to how many bitcoin miners Sonny Vleisides had at his home after he doubled the amperage to the house officially owned by BFL. According to the permit, the upgrade was performed in January, 2014.

well feds just said GAW and PAYCOIN was a PONZI ..no surprise there .....heh at the rate BFL folk are going to jail
the folk in the paycoin/gaw scam still have plenty of time to split the country...imho.....BFL still no one is in jail

sheesh crap moves slow

anyway gaw link to their problems (man sounds like the same record/same song and same volume on denial etc)

http://arstechnica.com/tech-policy/2015/12/feds-sue-yet-another-cryptocurrency-startup-alleging-19m-ponzi-scheme/

its a race..who will go to jail first? BFL has the lead...but paycoin/gaw scam has more folk involved..who will hit the slammer first? Its a race

*blink* *blink*

Did I see that BFL isn't in their offices anymore?

A happy end to a sad tail.

P.S. The SEC just tee'd off on Josh 2.0 at Zenminer

Did CBH just mention scrambled brains and eggs? Now I'm hungry (not the country next to Turkey - SHIT! Now I'm really hungry)

EDIT: And, see my sig. HAHAHA

I thought you'd appreciate the bumps. It sat still for too long. I hope they fry but know they won't.

Sorry for fucking with you. If it's any consolation I had lots of fun. There's hardly anyone with a brain on this forum anymore. Signature campaigners for the win. lol

As long as we keep bumping this BFL SCAM thread, I love you.