BTCBTCi remember the 7970 was able to reach 700 and 800 as a peak with some heavy mod, 500 was good for the 7950, i know because i mined my first biotcoin with it
good old time Cry
Topic: Daniel Mross paid 2700 BTC to ButterflyLabs in 2012 for 25 Gh/s (Read 7044 times)
January 23, 2016, 06:59:11 AM
You can't value Bitcoin like it a few years ago. Now it worths much more. Now you spend 1 BTC for something but in 5 years you probably won't because it will mean a lot of money. So I don't really think those guys did something wrong spending so many coins at once.
January 21, 2016, 05:03:28 AM
The prices are bound to rise; may be tommorrow or in near future. Rise in currency price would encourage more and more people to get involved with bitcoin community which could also help in broadening the reach of bitcoin. Investments from our predecessors helped it to evolve into something we've embraced and our investment and effort will shape its value for future bitcoin enthusiasts.
The price will not rise too soon. I do not see any catalyst for the immediate price rise. It is difficult to predict any way.
February 12, 2016, 02:42:24 PM
I imagine it's really difficult to to put yourself in this guys shoes now that difficulty is so high and pool mining is the only viable option for home miners, but back in the days of cpu mining you'd hit a block of 50 every couple of weeks and eventually be sitting there like "hmmm, I've got 600 bitcoin.... where the hell do I spend them?" there were very few places to turn your bitcoin into actual stuff. I remember dropping 10 bitcoin on a carabiner just to have a physical object I conjured from the ether. Later silk road and some other places offered more options but I mostly spent my coin on new video cards or mining hardware.
I don't feel bad for Daniel at all because if he spent 2700, I can almost guarantee that he had a few more thousand in his wallet. If he didn't sell during the last spike I hope he does on the next one (and I hope that it's soon).
I don't feel bad for Daniel at all because if he spent 2700, I can almost guarantee that he had a few more thousand in his wallet. If he didn't sell during the last spike I hope he does on the next one (and I hope that it's soon).
February 06, 2016, 07:12:09 AM
Satoshi himself built several FPGA units.
February 05, 2016, 03:51:16 AM
really feeling bad for Daniel, who would have ever thought about the price rise , only god could have predicted that 
, in the context he never lost anything , but hypothetically he lost a fortune 
, in the context he never lost anything , but hypothetically he lost a fortune February 04, 2016, 12:03:16 AM
So very few hardware manufacturers in the Bitcoin ever delivered more wealth to their clients despite making grandiose claims. BFL was probably the biggest loudmouth of them all.
The only mass production hardware manufacturers are Bitmain, Avalon, KNC and BitFury. Bitmain is the best.
I think he/she was referring to past manufacturers (see title of thread). It seems even in the 4 you listed the opinions have swayed very far. Avalon was loved until Yifu cheated everybody. KNC was loved after their first/second batch and then went to hated.
Avalon is kinda hard as if were talking about past it's a different company things such as Yifu. If were talking about current it's considered "Canaan-Creative" but almost everyone still calls it Avalon. I never dealt with the company during the Yifu times (luckily). I have only dealt with the current one.
Another big one I dont see mentioned was asicminer. I mean they were the game for a while with block erupters, then blades, then that box. And now they are nothing. Who would have guessed that when they number 1 for so long.
As far as I am concerned "Yifu" was nothing more than a fall guy. Avalon was always determined to make as much as possible through whatever means possible, customers be damned. I was one of the many hundreds who got scammed by Avalon back in 2012/2013 and I personally refuse to forgive them. I don't care who they say they are run by or what they changed their name to.
The only reason I suspect they are doing better business now is that they have so much money from cheating people in 2012/2013 that they no longer find that route profitable.
February 03, 2016, 11:03:56 PM
So very few hardware manufacturers in the Bitcoin ever delivered more wealth to their clients despite making grandiose claims. BFL was probably the biggest loudmouth of them all.
The only mass production hardware manufacturers are Bitmain, Avalon, KNC and BitFury. Bitmain is the best.
I think he/she was referring to past manufacturers (see title of thread). It seems even in the 4 you listed the opinions have swayed very far. Avalon was loved until Yifu cheated everybody. KNC was loved after their first/second batch and then went to hated.
Avalon is kinda hard as if were talking about past it's a different company things such as Yifu. If were talking about current it's considered "Canaan-Creative" but almost everyone still calls it Avalon. I never dealt with the company during the Yifu times (luckily). I have only dealt with the current one.
Another big one I dont see mentioned was asicminer. I mean they were the game for a while with block erupters, then blades, then that box. And now they are nothing. Who would have guessed that when they number 1 for so long.
February 03, 2016, 04:15:16 AM
So very few hardware manufacturers in the Bitcoin ever delivered more wealth to their clients despite making grandiose claims. BFL was probably the biggest loudmouth of them all.
The only mass production hardware manufacturers are Bitmain, Avalon, KNC and BitFury. Bitmain is the best.
I think he/she was referring to past manufacturers (see title of thread). It seems even in the 4 you listed the opinions have swayed very far. Avalon was loved until Yifu cheated everybody. KNC was loved after their first/second batch and then went to hated.
February 02, 2016, 04:09:41 PM
So very few hardware manufacturers in the Bitcoin ever delivered more wealth to their clients despite making grandiose claims. BFL was probably the biggest loudmouth of them all.
The only mass production hardware manufacturers are Bitmain, Avalon, KNC and BitFury. Bitmain is the best.
January 25, 2016, 05:21:04 AM
So very few hardware manufacturers in the Bitcoin ever delivered more wealth to their clients despite making grandiose claims. BFL was probably the biggest loudmouth of them all.
January 24, 2016, 01:47:11 AM
You can't value Bitcoin like it a few years ago. Now it worths much more. Now you spend 1 BTC for something but in 5 years you probably won't because it will mean a lot of money. So I don't really think those guys did something wrong spending so many coins at once.
Trusting BFL was a mistake, granted there was no way to know this back then. But anyone with BFL pretty much lost that is almost 100 percent. Delay's and lies just made them a bad bet.
And it is true he did not do it wrong. He just made a bad investment. We can see that now but again back then hard to see. Easy to arm chair quarterback it at this point.
But one who held that instead of spending now would be worth quite a bit to say the least.
January 10, 2016, 07:14:02 PM
Daniel Mross is probably the pizza Guy's brother.
They make such ingenious decisions
But still this is nothing compared to the pizza guys loss.
They make such ingenious decisions
But still this is nothing compared to the pizza guys loss.
January 10, 2016, 01:36:07 PM
I wish I would have given BFL only 2700BTC. 
January 09, 2016, 02:24:25 PM
I got into bitcoin mining in 2011 as a way to earn a free 6970 GPU. I used the profit from those coins to buy 4 5970s and subsequently sold thousands of bitcoins for around $2 and an insubstantial profit. It was fun and also necessary for the growth of the currency.
If people weren't spending their bitcoins when they were worth pennies, the currency would have died off and we wouldn't be where we are today.
If people weren't spending their bitcoins when they were worth pennies, the currency would have died off and we wouldn't be where we are today.
I agree. Some of us spent considerably more then that amount in btc that would look foolish at today's prices.
Much like gold and silver in the late 1800's.
January 09, 2016, 09:44:14 AM
I went on FrostWire and downloaded this Rise and Rise of Bitcoin movie (what, did you think I was going to pay for it?!?!?! )and it's on my second monitor playing now. It's ok, but I've learned the history of bitcoin on my own, so it's not telling me much I don't already know.
January 08, 2016, 10:34:19 PM
I told you all years ago that BFL had the miners. They used your pre-order money to build them and mine with them, then when the difficulty rose enough to make them non-profitable, they shipped them to the customers. Then they greased you up with another load of BS about newer bigger better faster miners and pre-order now, and you all did it again!
But ooohhhh nnnooo, no one listened to me..... And I was right.
But ooohhhh nnnooo, no one listened to me..... And I was right.
January 08, 2016, 04:15:46 PM
There's the 10,000 BTC pizza. And a few old timers in these forums have mined 50 BTC blocks a few times per day on CPUs. There's that Swedish? guy who mined 5000 BTC and bought an apartment a few years later.
And there's that guy who threw away his hard drive with a few thousand BTC in it.
I think this is basically what happened to most people's money back then:
https://www.youtube.com/watch?v=-DT7bX-B1Mg
And there's that guy who threw away his hard drive with a few thousand BTC in it.
I think this is basically what happened to most people's money back then:
https://www.youtube.com/watch?v=-DT7bX-B1Mg
If I remember well, the Swedish guy bought 18€ worth of Bitcoin in Swedish Crown and then bought a flat in the rich district of Stockholm.
I think that guy is from Norway.
Yes, the guy is from Norway. He invested 150 kroner ($26.60) in 5,000 bitcoins in 2009, sold them in 2013 for $886,000 and bought an apartment in a wealthy area of Oslo.
Here's the article about it:
http://www.theguardian.com/technology/2015/dec/09/bitcoin-forgotten-currency-norway-oslo-home
Yes, you're right, he's from Norway. Except for the country and thus the city where he does come from, I was right on my story
. 
January 08, 2016, 06:01:13 AM
There's the 10,000 BTC pizza. And a few old timers in these forums have mined 50 BTC blocks a few times per day on CPUs. There's that Swedish? guy who mined 5000 BTC and bought an apartment a few years later.
And there's that guy who threw away his hard drive with a few thousand BTC in it.
I think this is basically what happened to most people's money back then:
https://www.youtube.com/watch?v=-DT7bX-B1Mg
And there's that guy who threw away his hard drive with a few thousand BTC in it.
I think this is basically what happened to most people's money back then:
https://www.youtube.com/watch?v=-DT7bX-B1Mg
If I remember well, the Swedish guy bought 18€ worth of Bitcoin in Swedish Crown and then bought a flat in the rich district of Stockholm.
I think that guy is from Norway.
Yes, the guy is from Norway. He invested 150 kroner ($26.60) in 5,000 bitcoins in 2009, sold them in 2013 for $886,000 and bought an apartment in a wealthy area of Oslo.
Here's the article about it:
http://www.theguardian.com/technology/2015/dec/09/bitcoin-forgotten-currency-norway-oslo-home
January 08, 2016, 04:37:36 AM
There's the 10,000 BTC pizza. And a few old timers in these forums have mined 50 BTC blocks a few times per day on CPUs. There's that Swedish? guy who mined 5000 BTC and bought an apartment a few years later.
And there's that guy who threw away his hard drive with a few thousand BTC in it.
I think this is basically what happened to most people's money back then:
https://www.youtube.com/watch?v=-DT7bX-B1Mg
And there's that guy who threw away his hard drive with a few thousand BTC in it.
I think this is basically what happened to most people's money back then:
https://www.youtube.com/watch?v=-DT7bX-B1Mg
If I remember well, the Swedish guy bought 18€ worth of Bitcoin in Swedish Crown and then bought a flat in the rich district of Stockholm.
I think that guy is from Norway.
January 07, 2016, 08:48:00 AM
There's the 10,000 BTC pizza. And a few old timers in these forums have mined 50 BTC blocks a few times per day on CPUs. There's that Swedish? guy who mined 5000 BTC and bought an apartment a few years later.
And there's that guy who threw away his hard drive with a few thousand BTC in it.
I think this is basically what happened to most people's money back then:
https://www.youtube.com/watch?v=-DT7bX-B1Mg
And there's that guy who threw away his hard drive with a few thousand BTC in it.
I think this is basically what happened to most people's money back then:
https://www.youtube.com/watch?v=-DT7bX-B1Mg
If I remember well, the Swedish guy bought 18€ worth of Bitcoin in Swedish Crown and then bought a flat in the rich district of Stockholm.
January 06, 2016, 06:55:45 PM
they need a follow up on this guy. Does anyone know of any
interviews or anything showing how much he made / lost doing
this?
interviews or anything showing how much he made / lost doing
this?
January 05, 2016, 06:28:34 AM
Yeah I am still sore over the 209BTC BFL effectively stole from me for a 60GH that died within a few days and spent 2 weeks in RMAland. I'm not following that crap anymore - can only hope that some entity gives those involved whatever is coming to them.
January 05, 2016, 02:40:24 AM
Wow, thats a real big amount of money for only 25 gh/S :/
At that time, a 7970 mines around 500Mh/s, 25 gh/s is 50 7970, which was worth about 50 *300 = $15,000 and used much more electricity.
i remember the 7970 was able to reach 700 and 800 as a peak with some heavy mod, 500 was good for the 7950, i know because i mined my first biotcoin with it
good old time
January 04, 2016, 03:20:13 PM
Wow, thats a real big amount of money for only 25 gh/S :/
At that time, a 7970 mines around 500Mh/s, 25 gh/s is 50 7970, which was worth about 50 *300 = $15,000 and used much more electricity.
It was a bad deal they promised much more then they could actually deliver. And it was not 1 product they did it on every single product... and somehow they kept getting orders or people playing to upgrade to next miner hoping that would fix it.
They knew it was a sinking ship at BFL around monarch time. They had done enough to get on radar of lawsuits/laws. I went to a convention when it was close to the end and BFL was there... I almost felt bad for the guy working the booth. But knowing he was part of all that kept me from feeling that bad. He had a booth with pretty much no customers. Only people who stopped were people that wanted to see prototype monarch.
January 04, 2016, 02:56:06 PM
Wow, thats a real big amount of money for only 25 gh/S :/
At that time, a 7970 mines around 500Mh/s, 25 gh/s is 50 7970, which was worth about 50 *300 = $15,000 and used much more electricity.
January 04, 2016, 12:46:44 PM
Yep I remember the BFL days...people waiting endlessly for ship dates. There were rumors of fishy business right from the beginning. So glad I never invested.
January 03, 2016, 04:15:29 PM
Wow, thats a real big amount of money for only 25 gh/S :/
But at the time that amount seemed huge compare to GPU's. So when people looked at it seemed like a good idea. It is crazy amount more efficient then GPU's on mining BTC.
But as we know BFL just did not ship for a long time, so this caused huge losses on orders. And it follows pretty much all miners they sold they were late, and were not really truthful. So anyone invested there most likely lost big.
Yes sadly butterfly labs turned out to be sth like scam....
High perorders, some ppl are still waiting for delivery, But well, thats the problem in new asic manufators, you never know what you get..
So many "nice miners" turned to be scammers, fakeing real hardware etc...
Be aware people of scammers!!
January 03, 2016, 02:36:55 PM
Wow, thats a real big amount of money for only 25 gh/S :/
But at the time that amount seemed huge compare to GPU's. So when people looked at it seemed like a good idea. It is crazy amount more efficient then GPU's on mining BTC.
But as we know BFL just did not ship for a long time, so this caused huge losses on orders. And it follows pretty much all miners they sold they were late, and were not really truthful. So anyone invested there most likely lost big.
January 03, 2016, 08:09:28 AM
Wow, thats a real big amount of money for only 25 gh/S :/
January 03, 2016, 03:45:52 AM
it was easy to waste coins, back then they were worth much less, so it's a bit silly to compare the thing with nowadays bitcoin
the same will be said in another 5 years time frame, those who are wasting them now will regret it
the same will be said in another 5 years time frame, those who are wasting them now will regret it
I don't see any big rise come, not unless it explodes in regulations, laws, and becomes the norm.
they were saying the same thing prior the 1200 increase, but than it happened, it will eventually happen again and again, and each time bitcoin will aacquire a new higher bottom
January 02, 2016, 10:34:00 PM
I got into bitcoin mining in 2011 as a way to earn a free 6970 GPU. I used the profit from those coins to buy 4 5970s and subsequently sold thousands of bitcoins for around $2 and an insubstantial profit. It was fun and also necessary for the growth of the currency.
If people weren't spending their bitcoins when they were worth pennies, the currency would have died off and we wouldn't be where we are today.
If people weren't spending their bitcoins when they were worth pennies, the currency would have died off and we wouldn't be where we are today.
January 02, 2016, 10:13:25 PM
There's the 10,000 BTC pizza. And a few old timers in these forums have mined 50 BTC blocks a few times per day on CPUs. There's that Swedish? guy who mined 5000 BTC and bought an apartment a few years later.
And there's that guy who threw away his hard drive with a few thousand BTC in it.
I think this is basically what happened to most people's money back then:
https://www.youtube.com/watch?v=-DT7bX-B1Mg
And there's that guy who threw away his hard drive with a few thousand BTC in it.
I think this is basically what happened to most people's money back then:
https://www.youtube.com/watch?v=-DT7bX-B1Mg
January 02, 2016, 02:49:22 AM
it was easy to waste coins, back then they were worth much less, so it's a bit silly to compare the thing with nowadays bitcoin
the same will be said in another 5 years time frame, those who are wasting them now will regret it
the same will be said in another 5 years time frame, those who are wasting them now will regret it
January 02, 2016, 02:19:26 AM
I just watched than an hour ago....holy crap....I thought the same thing. He bought 70 avalons at one point as well.
I found it to be a good documentary to watch. It is interesting how he kinda lost on both sides. That documentary left me wanting to know more though, guess that's to it's credit.
I would love to know if he got a fortune from early investment. Or how he ended up after buying all that gear. Would love to know if he still had thousands of BTC after. It's been a while since I have seen it but I think they did not say his holdings after all of it.
January 02, 2016, 01:50:02 AM
I just watched than an hour ago....holy crap....I thought the same thing. He bought 70 avalons at one point as well.
January 02, 2016, 12:18:41 AM
So I was just rewatching Rise and Rise of Bitcoin and realized that Daniel Mross paid 2700 BTC to Butterfly Labs for a Mini Rig SC order (25Gh) on 5/30/12.... (Btc was $5ea then). So that's $1,162,215 in today's value. So don't feel too bad if your mining investment didn't work out...
I still believe in mining but HODL is where it's at still in my book. I'd really like to see the block reward code get changed so that mining can become decentralized again, the cheap power in China has ruined fair mining.
http://bitcoindoc.com/
(If you watch, it's at the 12:30 mark)
I still believe in mining but HODL is where it's at still in my book. I'd really like to see the block reward code get changed so that mining can become decentralized again, the cheap power in China has ruined fair mining.
http://bitcoindoc.com/
(If you watch, it's at the 12:30 mark)
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