Topic: [GLBSE] Diablo Insurance - Butterfly Labs BitForce SC Insurance (7,829:30,903) - page 3. (Read 7567 times)

I'm not sure D, what about the big money spenders who don't want to advertise their purchase?

Also, your terms for success are dubious.

does this mean 23 Jalapenos, 1 Single, and 1 MiniRig (or whatever they call it) shipped by the end of October will be considered a success?

My advice is to give it up... You're welcome to proceed (obviously), but I'm not sure you've thought this through.

I mean, what if BFL manufactures shipping labels on dummy accounts to keep the long con going? This seems equally as likely as them being a long con in the first place.

For the record, I don't think they're a long con, but I'm willing to change my mind given evidence to the contrary.

Photos of units and photos of UPS/Fedex/USPS labels uncensored provided by forum goers will be more than enough to prove this. If they ship before October 31st, I imagine there will be more than enough evidence for DI.BFLSC.Success to win.

Question: How sill you verify shipment of these 25 orders? The only way I know how is:

1) BFL posts shipping information at the end of October with # of shipped units, which I find unlikely, and I doubt you would believe them anyways.

2) You go by this thread: https://bitcointalksearch.org/topic/wait-list-bfl-sc-pre-order-information-monarch-orders-too-89685 , which is entirely inaccurate. They have a little over 60 orders listed in that thread, out of a potential 1300 order numbers. Not exactly a complete representation...

Cheaper than a bet on betsofbitco.in (they have a quite high operator cut)!

I doubt however that there will be more than 1600 BTC in bets to even cover the ticker symbols...

ButterFly Labs will never meet their requirement, look at the past!
The Single was advertised as a >1 GH/s @ 20w, they adjusted the ad after complains.
And that they would be shipped within 6 weeks is a fairytale.

We will see how this will end, I think its going to be a FAIL.

Greetz

DI.BFLSC.Fail
DI.BFLSC.Succeed

Butterfly Labs has recently advertised three new products in their BitForce SC line, a 3.5 gigahash/sec USB powered unit named "Jalapeño", a 40 gigahash/sec unit named "SC Single", and a 1 terahash/sec unit named "SC Mini Rig", all to be delivered in October 2012.

In the event that Butterfly Labs fails to deliver at least a sum total of twenty-five (25) units composed of all three products offered described exactly as above to customers by the end of October 31st 2012, shares of DI.BFLSC.Fail will be repurchased at combined value of DI.BFLSC.Fail and DI.BFLSC.Succeed divided by the number of DI.BFLSC.Fail shares sold minus a 1% fee. Shares of DI.BFLSC.Succeed will be repurchased at a price of 0.00 BTC.

In the event that Butterfly Labs does succeed to deliver a sum total of twenty-five (25) units composed of all three products offered described exactly as above to customers by the end of October 31st 2012, shares of DI.BFLSC.Succeed will be repurchased at a combined value of DI.BFLSC.Fail and DI.BFLSC.Succeed divided by the number of DI.BFLSC.Succeed shares sold minus a 1% fee. Shares of DI.BFLSC.Fail will be repurchased at a price of 0.00 BTC.

The final repurchase price in either outcome depends on the number of shares sold of both DI.BFLSC.Succeed and DI.BFLSC.Fail combined by October 1st. Shares will be issued at a price of one thousandth (1/1000) of one BTC.