it has reached a settlement with bitcoin mining hardware maker Butterfly Labs after it sued the firm in 2014. Customers who did receive their orders found they were obsolete. In June of 2012, Butterfly Labs became one of the first pop-up companies to announce a breakthrough in mining technology: application-specific integrated circuits, or "asics designed specifically to mine bitcoin 1,000 times faster. Others suspected Butterfly Labs had decided to use the machines to mine bitcoins for themselves. Further, defendants are prohibited from making false representations about their bitcoin mining products in the future, and cannot take preorder payments from customers "unless those products are available and will be delivered within 30 days".
Buy with confidence as the condition of this item and its timely delivery are guaranteed under the "Amazon A-to-z Guarantee". See all Used offers. Get.00 statement credit. Find great deals on eBay for butterfly labs miner.
Butterfly Labs BFL Little Single BF0050G asic Bitcoin BTC SHA-256 Miner 50GH/s.
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.
Then serious miners began to devote racks of computers, like small personal data centers. They sold preorders for pickaxes. The judge who extended Vleisides probation made some damning comments about Butterfly Labs in a January 2014 court hearing, saying: Now, there is a stench coming from Butterfly Labs. Update 11:17am CT : Helen Wong, an FTC attorney, told Ars that all three principals had been served with the lawsuit and that no arrests were made. The plaintiff, a Californian named, william Lolli, won a judgment of more than 13,000 but told Ars earlier this year that he has not yet collected the award. Our continued focus is our customers and finding a way to continue to deliver products and processing refunds for those who have requested them.