butterfly labs analysis
DESCRIPTION
Butterfly Labs company analysis Cameron Hejazi EECS 441, University of MichiganTRANSCRIPT
Butterfly Labsby Cameron Hejazi
BFL Products
Standalone SHA-256 ASIC miners
SHA-256 ASIC mining chips
Hosted SHA-256 mining
BFL Financials
Private company
#1 hardware supplier for Bitcoin mining
Bitcoin mining has exploded in popularity...
BTC Arms Race
BTC Market Cap
BFL History
Founded in 2011 focused on semiconductor design
Started making Bitcoin FPGA miners; success!
Shipped first Bitcoin ASIC miners June 2013
BFL Bleeding Edge
BitSafe
BFL Secret Sauce
Timing
Cost of Mining + Cost of Bitcoin complex
BFL Quirkiness
CEO is a convicted felon!
BFL Competition
Owned Mining: Avalon
Rented Mining: CEX.IO
Wallet: Coinbase, Blockchain.info
BFL Future
Future of Altcoin Economy?
Future of Bitcoin Economy?
Future of Legality?
Despite these challenges, I’m bullish