How to Create a Profitable Bitcoin Mining - Butterfly Labs
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Butterfly Labs Review
The company Butterfly Labs (BFL), which is epically disgraced in front of customers, opened again and updates its website. They had to shut down as a result of a conflict with the state regulatory body, the FTC. FTC employees launched an investigation at the end of 2014. Their verdict was that "consumers who have purchased the machines or services from Butterfly Labs and have not received their orders". BFL has long treated clients with promises, and then finally went offline. But here they come back! Their plans have been updated on the company's website: "We are more than ever ready to serve you, our customers. In the future, we will provide good suggestions. However, after three months of closure and strictly limited operations, we must assess the state of all aspects of our business. We ask that You be patient as we need time to restart our operations." Customers interested in getting ASIC "Monarch" can still hope to get it. You can also apply for a refund. Requests will be processed as received. The company expects the first payments to start in late January or February. In addition, cloud mining contracts are offered to customers with a "big discount". Also BFL is still trying to develop the BitSafe, a hardware wallet for storing bitcoins. Although, during this time, have already appeared similar projects from competitors and best wallet Ledger.
I acquired 6 Butterfly labs ASICC Miners from a friend of a friend like 4 years ago and I used them for a bit in my college dorm (I didn’t have to pay electric bill so why not) but now they are kind of just a hassle to keep lugging from house to house and internship to internship so I wanted to try to get rid of them but I have no idea the best place to sell them or even an idea of their worth? I know I missed the giant bitcoin mining craze last year but they are beefy miners. I’ve got 4x Butterfly Labs SGL300G 2x Butterfly Labs Monarch Any ideas as to current worth or even if they can be repurposed? Their ASICC so I’m assuming they can’t be but never know.
Good Day! Now I am fairly new to bitcoin mining, I've just discovered that my graphics card isn't mining more than 0,00 something something, basically it's not going to pay much off. So I started looking into the new monster hardware coming in the near future, 2014. https://en.bitcoin.it/wiki/Mining_hardware_comparison Obviously there are many choices of hardware that will pay off ridicolously much more than that old nvidia or AMD card which is stuck in the average joes computer. Of course the investment itself does cost, but considering the current bitcoin price of 710$, there is a high probability of making big bucks. As for the mining rigs coming in 2014 it says some are coming in Q1 and some are coming in Q2, the first and second quarter. And one of the questions an investor might have would be, which one is the best to preorder based on delivery. For example, the butterfly monarch http://www.butterflylabs.com/monarch/ Which it says comes out January / February or the Synapse Terra-1 http://axonlabs.net/?l= which says "Production / Shipping will start in Q1/Q2 2014. Since units are purchased faster than they can be produced" My question is with all these options, which one to buy if you want it delivered as fast as possible. And which one is the best choice.
How has your Cointerra and/or Butterfly labs experience been?
Hello all, Been litecoin mining and looking to drop $2800 on a butterfly labs monarch and another $6000 on a cointerra teraminer 4. I am a bit nervous about dropping the coin on something that ships in february and april respectively to companies that I have never dealt with. How has everyones' experience been with them? The monarch, if still profitable at the time, will do bitcoin or an alt coin, but the terraminer should still be bitcoin profitable with that much power in april...if not to the alt coin mines for it too. Thanks for any feedback you may have! EDIT: Read the sticky under the FAQ on BFL. Are they still this bad? Ebay is filled with their units so they do ship...but maybe way too late?
An apparently contracted sales drone just called me representing Butterfly Labs. (I bought a Jalapeño back in March which shipped last month.) He offered me a 20% discount on any new purchase, and then mentioned the 600 GHs Monarch preorder. He estimated that it would ship "I don't know when." (http://www.butterflylabs.com/monarch/) Even after waiting 7 months for my rapidly depreciating ASIC miner, I never believed that BFL was intentionally preying on gullible Bitcoin neophytes. After all, the product I received was solid, attractive, and it performed better than advertised. It's legit. But after talking to this sales dude, I have a different opinion. Preording Bitcoin mining hardware is a mistake you only make once. Surely BFL knows this, and yet they are trying to fool me twice. Nice try. UPDATE: I received the "personalized discount code" e-mail. It expires in one week. Chuckle.
ELI5: Why getting ANY asics minig rig (even 60ghs) appears to be unprofitable to start right now? Is there ANY way to start mining profitably? [genisisblock image in comment]
I've read a TON about bitcoin and litecoin mining, but I'm still confused on why buying an expensive rig is supposedly unprofitable? For example, one can buy any number of butterfly labs asics miners doing 60ghs on ebay right now for around $1400. But according to these charts from genisisblock, there is absolutely no way to get ROI with them. Is that really correct? Does it take into consideration the (purely speculative) potential future rise in price of bitcoins? Does it assume you are only mining as part of a pool? What if you bought 5 60ghs machines and mined independently instead of with a pool? Is there any math there that works out to profitability? Another thing I don't get is the Monarch 600ghs miners shipping in January.... Even if you were to buy one and start mining in January, it appears they would IMMEDIATELY be unprofitable! How can this be? Lastly, say you had 10-20k cash to start with. Are there ANY machines you could buy right now (think ebay or any company currently shipping) that could get you profitable for even a few months with that kind of cash?
BFL Monarch - 28nm Water Cooled Bitcoin Miner - In Hand - Ready to Ship! by Butterfly Labs. 3.4 out of 5 stars 6 ratings. Currently unavailable. Most folks looking at this are probably aware of Butterfly Lab's troubled history. I gather that they are (slowly) digging their way out of that hole with the supervision of the courts and the FTC. Butterfly Labs promised its technology could mine bitcoins 1,000 times faster. Mining is an essential part of bitcoin. It rewards people for using their own computer power to maintain the network. According to a recent FTC complaint, Butterfly Labs touted the profitability and cutting-edge technology of its Bitcoin mining machines — which sold from $150 to nearly $30,000 — but repeatedly broke its promises to customers. Butterfly Labs has announced a new PCI bitcoin mining card, named Monarch, based on the new 28nm technology. Butterfly Labs claims the Monarch will achieve 600 GH/s and consume 350W. Butterfly Labs (BFL) is a company that creates Bitcoin mining hardware. One of the earliest bitcoin mining hardware manufacturers offering ASIC devices, Butterfly Labs have come under fire from bitcoin miners who have had to wait patiently due to lengthy production and delivery delays. The company is headquartered is located in Kansas, United States.
This is an overview of how I mine Bitcoins using a mining device from Butterfly Labs, a Raspberry Pi to control it, and MinePeon software to mine and connect to mining pools. I set it up using a ... The Monarch whispers along at around 50dB, around the level of a conversation between two people. 0:57 Quiet Bitcoin Miner - Butterfly Labs Monarch - Duration: 57 seconds. 3.5hr update, it's getting hot in here. 1967 Shelby GT500 Barn Find and Appraisal That Buyer Uses To Pay Widow - Price Revealed - Duration: 22:15. Jerry Heasley Recommended for you BFL the gold standard in Bitcoin Mining equipment. Gold and silver are money but bitcoin gives you the ability to transfer wealth quickly and securely anywhere in the world without the scum bag banks. Hitler finds out about the Butterfly Labs Monarch Bitcoin Miner Penned by millsdmb Inaba=BFL_Josh=Josh Zerlan BFL_Jody=Jody Drake=Darla Drake https://bitcoin...