Court Order: Butterfly Labs Bitcoins To Be Sold - Slashdot

BFL tries to use Bitcoin against FTC

BFL tries to use Bitcoin as leverage in their defense. Too bad every Bitcoiner knows their full of shit.
“Butterfly Labs is disappointed in the heavy-handed actions of the Federal Trade Commission. In a rush to judgment, the FTC has acted as judge, jury and executioner, contrary to our intended system of governmental checks and balances. The FTC's current actions are negatively impacting our thousands of customers and our dozens of employees. Their current media campaign should only further alarm a knowing citizenry and raise questions as to why the FTC wouldn't simply let this case play out through the judicial system. That is what Butterfly Labs intends to do.
It appears the FTC has decided to go to war on bitcoin overall, and is starting with Butterfly Labs. Butterfly Labs is being portrayed by the FTC as a bogus and fake company. To the contrary, Butterfly Labs is very real. As pointed out in court filings Butterfly Labs made last night, Butterfly Labs has shipped more than $33 million in products to customers and voluntarily granted refunds approximating $17 million to customers for cancelled orders. Butterfly Labs was literally is in the midst of shipping out completed products to fulfill the remaining millions of dollars of orders on our books and issuing requested refunds, when the FTC effectively closed the doors of Butterfly Labs without any chance to be heard in court.
At this time, Butterfly Labs is cooperating fully with the Temporary Receiver appointed by the Court. A hearing is set for September 29 and Butterfly Labs has asked the Court to allow it to present testimony from key witnesses for the company. Butterfly Labs intends to defend our business and our nascent and promising industry. The government wants to shut Butterfly Labs down, and we are not going away without a fight to vindicate bitcoin, our company, and our employees. Our continued focus is our customers and finding a way to continue to deliver products and processing refunds for those who have requested them.”
submitted by SatoshisGhost to Bitcoin [link] [comments]

Anybody else getting a refund on their BFL Pre-order?

I would have been happy to recieve the Jalopeno I ordered and paid 100% up front for after only a 4 month delay, but I'm no longer interested in mining.
I checked today to see if I could get a refund on my pre-order (better to get the full amount in bitcoin returned than have to resell it to someone at the new par value of bitcoin (It was I think $6/btc when I pre-ordered) and found this entry in their FAQ
Can I get a refund on my pre-order? Butterfly Labs, INC. is accepting pre-orders for ASIC based products, expected to begin shipping in late November or early December 2012. Your pre-order with payment confirms your place in line for delivery once we begin shipping. Payments made for pre-orders of ASIC based products now under development should be considered non-refundable until products begin shipping or 1 January 2013, whichever is earlier.
So, I've requested mine.
anybody else? Think they'll actually honor the bitcoin value instead of the USD par? Has this come up before in any meaningful way?
submitted by gamerandy to Bitcoin [link] [comments]

How to Cancel My BF Labs Order?

Hi Reddit,
On May 6 I ordered the 5 GH/s Bitcoin Miner from Butterfly. I paid using PayPal, to the sum of $308.00. After a little over a month, I contacted them asking where my item was. They responded that I was given an order estimate of over 2 months and that my order status could be checked on their site (always "processing").
After 2 months, I started asking again, and it took them quite a long time to get back to me. I also had read within the few weeks before that of BF Labs' troubles, having come here and seen in the NY Times. They finally got back to me last week and told me that they could not provide me with any sort of shipping estimate, but they'd tell me when my item ships so I can track it. I told them that due to the time-sensitive nature of the product (aka it gets less valuable the longer I wait) and their inability to even give me some sort of estimate on my purchase, that I wanted a full refund.
They told me that I agreed when I purchased it that all sales were final. I went to my bank but they informed me I needed to go to PayPal since they are the ones who did the transaction. PayPal told me that they don't handle disputes for hardware/software since "it is usually a misunderstanding." They said I could send a letter to the company, which I did, and then PayPal immediately closed the case saying it was more than 45 days since the transaction.
So, whether or not any of you think I "deserve" a refund in this case, I am still going to attempt to get myself one. I think most people can agree that buying products where you pay up front and receive what you paid for "sometime in the future" is not an appropriate business model.
Now that my bank and PayPal and the company won't help me, what can I do to get my refund? The Better Business Bureau? FTC? I really have no idea.
Thanks for all your help, guys!
submitted by Screamteam411 to Bitcoin [link] [comments]

My (unique) experience with BFL

My business relationship with Butterfly Labs permanently ended today, so I thought I'd break up the monotony of BFL refund advice and stories with the tale of a guy who bought from BFL and came out ahead in the end.
Last summer, I had my first real job, and was just finding out about this bitcoin business. I thought it was really cool, and wanted to get into mining. Back then, graphics cards were standard, and FPGAs were at the high end of the market. BFL was offering the best price/performance with their original FPGA single, which gave you like 800 MH/s or something. They also had a "coming soon" placeholder for their ASIC line, but not so much as a case rendering or preorder button yet.
Inevitably, I asked whether these people were legit. Google turned up threads where people dismissed it as a scam, a few brave souls preordered the box, and after a few delays, it came. Okay, a lot of delays. But the product existed, and that's all that matterd to me. I thought on it for a week or two, then decided to go for it.
So I went back to the website intending to buy a Single, but while I was in indecision, pre-orders had started. It was August 8, and they said they'd be shipping by October 2012 (lol). I had to decide whether to get the Single right away, then do a trade-in later, or go straight for a pre-order of four Jalapenos. Both cost the same. I fully expected some delays on the ASICs, but fugued they'd be out the door by February 2013, if not sooner (lol). So I figured I'd be better off having an early place on the ASIC pre-order list than to get the FPGA, but be near the end of the trade-in list. Call it a dumb decision, but if I hadn't gone that way, none of the following would have happened.
Time passed. The day the Little Single was announced, I switched my order to that. More time passed. I read Jody's blog every day. I was there for every Two More Weeks that ever came out of BFL's urban farming mouthpiece. And then, one day, nearly a year after this story began, on June 12, 2013, as if by a miracle, there was an e-mail in my inbox that said my order had been shipped.
But it wasn't right. They shipped me four Jalapenos, but I had changed my order to a Little Single. Little Singles weren't even shipping yet. I sent them an email explaining what had happened and asking them what I should do. Two weeks went by without a response, and the package came. I sent them another email with an update, then proceeded to plug all my new gear in. One of them was defective and mined only 200 MH/s for some reason. But the other three got about 6 GH/s. I waited for a response to my emails, and mined.
Weeks passed. Little Singles started shipping. I started phoning the office. I don't know what the deal is with their phones, but I only got voicemail (which they don't seem to check), until one day I discovered that if you phone them 3-5 times in rapid succession, you get through to someone. I told him my story. He said he'd look into it and get back to me later that day. I waited a week, then called back. He said that I could either ship back the defective one, and they'd send me three more Jalapenos, or I could ship back all four and they'd give me my Little Single. I asked how I'd be compensated for shipping. He said that I wouldn't be. I informed him that he was full of shit. He said he'd send me a fedex label. That afternoon, for the first time, possibly ever, Butterfly Labs followed through on a promise.
I waited two days, mined my eighth bitcoin, then shipped my gear back. They sent me my Little Single, I plugged it in, and that should have been the end of the story. At that point, I considered myself to have come out even. I had to stop mining for two weeks to do a product trade, but on the other hand, I started mining -albeit at a lower hash rate - sooner than I otherwise would have.
But then, two weeks ago... Remember those emails I sent back at the end of June? Well, Jody replied to the second one. Sorry about the mix-up, she said. Hope it's all right with you if we send you two extra Jalapenos, so that you needn't ship anything back. She wan't aware that the case had been resolved over the phone.
So what would you do in this situation? Yeah, I took 'em. They arrived today and are happily hashing away over in my little bookshelf bitcoin farm. As of now, I have 2.2x my original investment (including shipping and customs fees) in bitcoin, and I feel like a winner. I decided Butterfly Labs doesn't deserve the honesty I would probably have extended to most any other company.
So yeah, that's the long-winded story of how I profited from BFL's incompetence. Hope you enjoyed.
submitted by Bucky__Lastard to Bitcoin [link] [comments]

BFL Labs confirm shipping of units.

A copy of the email as follows:
Shipping Update View this email in your browser
Products Support Forums Contact Us BFL Products Shipping Now May 1, 2013
Dear seppukkake,
Shipping of our BitForce SC ASIC miners has begun!
You may have seen news reports of our ASIC miners in the wild and some of you may have already taken delivery. It's all true. We're finally shipping. You will receive your order as we work through the shipping queue .
If you didn't know, you can check your order status on our website. Log in by clicking here. Use the same email and password you set up your account with.
If you don't have your password, use the Lost Password function to create a new one.
So what took so long?
This third generation of our SHA256 engine was a complex multi-year investment in bringing the latest semiconductor technology to bitcoin mining.
Developing a fully custom 65nm ASIC processor is not a casual undertaking. In fact, the new products have improved mining speed by a factor of 72. This much advancement doesn't come easy and it's fair to say that getting here has been eventful.
The key issue has been the engineering related to accommodating larger power draws than expected. A good example is the Jalapeno product. It was originally designed to be powered by USB but now consumes the power of a small light bulb (30w).
Consequently the power regulator, enclosure, airflow and PCB needed upgrading to suit. Although we are very aware of the undesirable dynamics of any delay, we were nonetheless obligated to make these updates in order to deliver a reliable product at the expected performance. The same adjustments have been made with all products in the lineup. You can see the adjusted product cases in our currently posted product lineup. (The Mini Rig case will be double shipped to satisfy their orders which is why we've run out Mini Rig enclosure stock).
Final confirmation is required
Please be advised that due to the adjustments described above, we need your confirmation prior to release of your order into the final build queue and on to final delivery. It may also be a good time to review your purchase altogether relative to the bitcoin market as this is the last opportunity to do so. If your order is not confirmed, it will be canceled and your money will be refunded.
Thank you for your support and we wish you great satisfaction with your product!
Jalapenos Out the Door Packaged for its adventure to a new home. Bye Jalapeno! Your owner eagerly awaits your arrival.
Easy Miner Beta Release An easy way to mine with a GUI and real-time Bitcoin statistics, developed for Windows and Android. Linux version coming soon. Download and participate in the beta by clicking here.
New Single Form Factor The new form factor for the Single. The new body offers room for performance growth while keeping things ultra cool.
Facebook Twitter YouTube Website 
Copyright © 2013 Butterfly Labs, All rights reserved. You are receiving this email because you have ordered or expressed interest in Butterfly Labs products.
Our mailing address is: Butterfly Labs PO Box 413671 Kansas City, MO 64141-3761
Add us to your address book unsubscribe from this list update subscription preferences
submitted by seppukkake to BitcoinMining [link] [comments]

How to setup a 60 GH/s Butterfly Labs BFL Single SC ASIC Miner My Butterfly Labs Jalapeno 5GH/s bitcoin miner Butterfly Labs (BFL) Bitforce SC ASIC Test New Butterfly Monarch Bitcoin miners Inside the Butterfly Labs (BFL) 25GH/s 2012 FPGA Mini-Rig (NOT ASIC)

Butterfly Labs. Home; Animals; Cars; Celebs; Games; Health; House; Lifestyle; Sport; Style; Tech; 6 Ways You Can Get Rich by Selling Stuff on eBay – 2020 Guide . Walter E. Land-October 25, 2020. How to Have a Safe 2020 Holiday Season. How to Determine Credibility of Online Casinos – 2020 Guide. 8 Tips For Finding Financing Options For Small Businesses – 2020 Guide. 5 DIY Ideas to Remodel ... Butterfly Labs has resumed shipping its Monarch hardware and issuing bitcoin refunds to select customers. The embattled bitcoin mining company issued a statement earlier this week via its website ... Well I got a $2000 refund from Butterfly labs. I did an upgrade after upgrade and eventually pilled into their Mining by Gh... 167gh to be precise. I must admit I'd written the $2000 off but I kept the faith and got it paid back in full. I have now used some of the money to buy Bitcoin as I still believe in it. I'll probably buy around 10-20 and then sit on them or bail out if it does turn ... Butterfly Labs is operational and issuing refunds. I just received HUGE refund in Bitcoin. If you're owed a refund, keep an eye out for correspondence from BFL. I just received an email from them along with a huge refund in Bitcoin. What a great day to receive an exchange-rate-based refund! EDIT: people are (understandably) asking for proof. Happy to show a mod the txid/emails if interested ... MrBingoBoingo writes In a new development in the case against Butterfly Labs, the court overseeing the case has ordered bitcoins held by Butterfly Labs to be turned over to the court-appointed temporary receiver.The order also gives the receiver authorization to convert the bitcoins "to cash on a systematic and reasoned basis." The justification for this measure is at least to ostensibly ...

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How to setup a 60 GH/s Butterfly Labs BFL Single SC ASIC Miner

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