Topic: The case Of Butterfly Labs Inc. (Read 1388 times)

Who BFL use a miner and tell you there are delays? No way dude BFL is so legit and they never have mislead the customer. I trust them completely. -Sarcasm

@ACHZMAN

Yea... I stated in absolute terms...

What's wrong with you people, were you growing up without any friends?

You ever heard the quote by Yogi Berra: "A nickel ain't worth a dime anymory", or "It's like deja-vu all over again". Well, that's called an American language. When we talk, it doesn't have to sound like somebody just quoted CISCO manual, unless you wanna sound like this.

We all know how long Bitcoins will last, it's all out there. But we might go, and dig for gold; in the Alaskan Klondike Territory, with a shovel and a pick. I'm certain the gold is still out there, and plenty of it, except you might need about a billion dollars, just to buy your mining equipment.

Do the other vendors (e.g., Avalon) have similar delays in their deliveries?

You just failed at being Sherlock this time.

Looks like you are having a sad day eh?

 You stated, in absolute terms, that bitcoins "will run out next year". Regardless of how difficult or unfeasible it becomes to mine, the rate of release of new bitcoins into the economy remains relatively fixed, so that statement was completely and utterly wrong.

The amount of hashing power on the network has little-to-no impact on the rate of generation of new bitcoins, over the long term, as the system self-regulates and adjusts to keep the average rate of block release at 10 minutes.  So your analogy about excavators and shovels is pointless and asinine to your statement that bitcoins will "run out next year", as one has nothing to do with the other.  If you'd made the argument that BFL's pathetic rate of production and shipping will likely render almost all their new products useless due to difficulty increases, that would've made sense.

*rolls eyes* Imagine getting a list of lottery winning numbers five months back.. you would be rich now...

:-)

We couldn't find Satoshi  but we stumbled across Sherlock
MAYBE?

Maybe BFL are using the preordered miners to mine for themselves in the meantime?

It's definitely a 'meh' situation... they kept pushing back the release date, but at least they delivered a product eventually

After posting this non-sense , please refrain to post any advice till you actually know something about how bitcoin works.

I can't find sympathy for you anymore although you have fall int BFL trap.

Unless they know it will be not long lasting business. BFL preffer find new custommers and get out of the old max by delaying shipment as long as possible.

Imagine getting your HW five months back.. you would be rich now...

If you do not get the products on time, it is your right to ask for a refund and claim one.

Companies in this industry must look out for consumer rights and aim for high end consumer satisfaction in order to survive.

To be honest here, when I started to see how they treated anyone with a valid question of concern, I began to suspect BFL in Dec of 2012. I seem to always give everyone the benefit of the doubt.

After the second set of delays I asked for my money back. The company is a crook and I hope people realize this BEFORE they place pre-orders.

I have caught BFL's COO in so many lies that it would make a book.

My Avatar say's it all.

Mind you, I am not saying for a moment that there is definitively no case for a lawsuit

I just don't know as I am not a lawyer..

Much as I sympathise most of the info about the folks involved was known all along

Isn't caveat emptor one of the pillars of the btc world?

ummmmm, are you talking about ROI in purely fiat terms?

Lets run a little thought experiment, just for arguments sake pretend for a minute that back when you ordered your BFL equipment you decided instead to take that money and buy BTC, at the market rate they were going for then.  Now fast forward to today.  Still feeling rosy about your "ROI"?

I don't really care how it works, and the mechanism by which it's generated.  My thorough understanding of the mechanism behind the bitcoins has nothing to do with this case.

All I want is the merchandise that I've ordered.

But I'm pretty sure that, some time next year mining might be beyond any of us, cost wise. You gonna need an access to a server, not just 600Gh mining card.

Anyways here it is:

Bitcoin has a maximum 21 million limit: The total number of Bitcoins that will be issued is capped at 21 million. The Bitcoin “mining”3 process presently creates 25 Bitcoins every 10 minutes (the number created will be halved every four years), so that limit will not be reached until the year 2140. While Bitcoin critics argue that the maximum limit is not large enough, supporters maintain that since each Bitcoin is divisible to eight decimal places, the number of fractional Bitcoins (called “satoshis”) – at 21 x 1014 – will be more than enough for all conceivable applications. Conventional currencies, on the other hand, can be issued without limit.

We started with shovels, now we're using jackhammers. In 4-6 months, you're gonna need an excavator. How many of you can afford to buy an excavator?

Eventually, when they ship those shovels and jackhammers, we gonna loose the fight against the excavators. And, that's a fact.

You have no clue about what Bitcoin is, how it works, or the mechanism by which it's generated.

Yes, the amount of Bitcoin is finite (possible future changes/upgrades to the system to increase the limit of 21,000,000,000BTC notwithstanding).  Per the current parameters of the code, it will take over 100 years for the last block reward to be generated. The general consensus is somewhere around the year 2140'ish. 

There is absolutely ZERO possibility that they will "run out next year". 

If you don't even understand the basic principle of how/when BTC are generated, good luck masterminding any sort of legal action against BFL, even if they may deserve to be sued or have charges brought against them.