Topic: New Butterfly Labs Singles (Read 1497 times)

I would love it if BFL showed us SOMETHING tangible about the production state of the devices.  Even a picture of the fabrication process or a tray of ASIC CPUs or something.  <3

Right now they expect us to do nothing but trust them.  Which we will do...  But they need to give us a bone to chew on once in awhile.

Should be..

More legit than my male aunt.

Sounds legit.

Must be some kind of joke ... no ?

BFL do you have an answer for this

 Yes.

 Should of put this in with original msg, sorry my 1st post. This was posted on a TOR market place 9 days ago:

   "Lady luck handed us a very large box containing several hundred ButterflyLabs BitForce SHA256 Single encryption processors originally destined to a well known US corporation (one of several boxes).

Better known as Bitcoin miners, each one of these little "coffee warmers" boasts 832 Mega Hashes per second at 80w power and 32db noise. At current difficulty rate, each one is capable of solving a block of 50 Bitcoins (currently valued at $330 USD) every 100 days.

But connect multiple units together with auto-configuration, and you may soon quit your day job: 100 units would solve a block on a daily basis and earn a respectable income.

Please read the manufacturer's product specifications online, where you will also download the latest firmware for your unit. There are several guides and forums on how to set these up, which is beyond the scope of this transaction.

http://www.butterflylabs.com/product-details/

Retailing for $599 each + shipping, we are offering these at a fraction and have priced to move in bulk, which keeps our overhead low - less trips, less fuel, less packaging, less postage, less customers, etc.

1 unit = 23 BTC
3 units = 55 BTC
5 units = 80 BTC
10 units = 135 BTC
20 units = 225 BTC
50 units = 455 BTC
100 units = 680 BTC

Shipping within the USA only for now. Serious inquiries only".

25 * 6.60 = $165USD is what you're claiming they are 'giving them away' for. These $599 units already have two chips rumored at over $1000/piece in them. No.

  I've been pretty excited as ordered a single few weeks ago for $599, then today on 1 of the TOR market places (don't remember date of post) saw Butterfly labs saying they had a box load and were offering them for 25BTC for singles, cheaper if bought a few, thats 1 way to piss of your customers, especially when $599 paying customers are being told on their website that there is a backlog of orders to clear yet they're giving them away on TOR for 25BTC. 

The market cap of Bitcoins, according to bitcoinwatch.com is only about $60 million.  It's simply not enough for a government to be interested in.  Right now, bitcoin is pretty safe from a 51% double-spending attack, since the entities (people, businesses, governments, etc.) with the resources to pull together enough resources to equal 51% don't care enough about $60 million (or less, most likely, as it would probably crash the market) to make it worth the investment.

For comparison, and to tie in to the original topic, the current hash rate of the network is estimated at 12.51 THash/s, or 12,510 GHash/s. The BFL mini rig, their largest rig that can currently be bought, produces comes in at about $600/(GHash/s).  If someone were to try to execute a 51% attack, they would need to match the rest of the output of the grid, plus some token amount.  That's about $7.5 million at current prices (pushing out an ASIC faster than BFL could work, but that's fighting the clock; when/if those hit the market the network hashing power will go through the roof).  Then they would have to develop the software to attempt a double-spending attack (certainly they couldn't just use a standard miner).  Then, they would have to start executing the double-spending attack; at this point note that with 51% of the global hash power, they would on average eventually be able to succeed.  Executing the attack more quickly would require a further investment in hashing power.  It would also require an absurd amount of power (on the order of dozens of megawatts).  Through all of this, if the market loses faith in BTC, the price will drop.  It's just too much work and too risky for a bank robbery.  More straightforward to just set up a really impressive printing press and print your own $100 bills, like North Korea (see http://en.wikipedia.org/wiki/Superdollar)

I'm wondering why the Chinese government hasn't jumped in and done whatever someone with 51% or more can do. Maybe they're waiting for the kitty to be bigger? It's not like they don't have the resources.

No doubt the factory in china will be chomping at the bit to sell the design to others and / or produce the very same chips for other assemblers.

Depends on who pulls off the espionage?

As far as I know there are no physcial devices - nothing to test yet - the posted GH/s numbers are based on estimates from their ASIC design. The estimates are probably within 30% of the mark. It's likely they dont even have a preproduction unit themselves as the chips are just being manufactured in china as we speak. Speaking of which.. I wonder which company will be their first ASIC competitor?

So all three items are only for pre-order? Does anyone know anyone or seen a post of someone actually testing one of these or even better, a VIDEO?

Just to make sure there is no misunderstanding.  These are not shipping in 4-6 weeks, ... October is when they expecting the first shipments to be made.  There will be order backlogs for quite some time after, it can be assumed.

I'm sure it will be available for pre-order until October.

Yes, the BitForce Jalapeno 3.5 GH/s should still be available for pre-order.

I noticed these new 3.5 ButterflyLabs devices. They are avalable to pre-order.

The thing is that I would be able to pre order it for another 4-6 weeks. Will they still be available to pre-order then?

Thanks!