Tag: crash

Butterfly Labs caused the 2015 bitcoin crash

Background about BFL Missouri-based startup Butterfly Labs was shutdown by the FTC back in september.¬†In June of 2012, Butterfly Labs became one of the first companies to announce a breakthrough in mining technology: application-specific integrated circuits, or “ASICs,” designed specifically to mine bitcoin 1,000 times faster.¬†Butterfly Labs promised their customers that preorders would ship as soon as possible. But they soon became evasive, issuing a series of shifting dates. In …
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