Bitcoin Forum

Putting on a fresh pot of coffee,  Simon's on his way :)


Eduardo deCastro
Founder and CEO, HashFast

Will Simon be verifying that your chips aren't a lie?

Will you be slashing you prices now that BFL is planning tapeout of their latest Gen 2 ASIC chips?

Cut deeply!  ;D :D

Like Donkey Kong?? ;)

QG

Are you kidding me? Yet another HashFast thread? How many do you need?

More threads please!

Is this post a reference to "Golden Nonce" or something else?

Original post is a bit unclear.

Yes, of course. 

Certainly a lot more information regarding the GN chip.
Also about us, how we got here, the company, the Baby Jet, etc.

This is all info we've been meaning to get out for some time, but taping out a chip is an extremely intense process.
It's ending now - we'll be posting a lot more information, leading up to our tape-out this week.

Eduardo deCastro
Founder and CEO, HashFast

Does the expected ship date of late October still look achievable?

This is a view of the shop floor of our assembly house:

https://hashfast.com/wp-content/uploads/2013/08/shop_floor_iso9001.jpg

-John

Everyone knows that bitfury has working hardware, but they taped out in March and are yet 1 month further delayed with their 100/200TH mine

https://picostocks.com/docs/index/19

How confident of shipping to customers are you if you have not taped out yet.

Yes. We are exactly on track.

-John

somewhere in southern China...

Why limit to MPP to claims made by 15th January. What is the rationale ?

Well, that's bigger then BFL's place, at least :P

Total agree bets: 0.10
Total disagree bets: 1.00
http://betsofbitco.in/item?id=1706

 No  : Yes
2.28 : 0.43 BTC
http://bitbet.us/bet/507/hashfast-will-deliver-asic-devices-to-spec-before/

Good luck tho. :)

QG

That's not too unreasonable.  If they're holding the money in some special fund, they may want/need to spend it by the 15th.

Very confident.

We are currently conducting a mock tapeout, and have already sent our GDS-II to the fab.

We are very very close to final tapeout.

-John

Here's an actual question about this miner protection plan.  You say "up too 4X" the chips for failure to ROI in 90 days  How exactly do you determine how many chips they actually get?  

I mean, say bought one of these and I make back 89% of the purchase cost in 90 days.  Would I still be able to get 4x my current hash power?  

What happens if someone buys a unit, then I get a unit a month later - he gets 110% ROI and I'm at 89% ROI.  Would I get 4X chips and he wouldn't?

Is the number of chips related too your yeild?  If you only make back 25% you get 4x chips, but if you make 80% you get 1x chip?

I think the MPP is a step in the right direction as far as reducing risk for people pre-ordering. 


Of course, technically they aren't even betting that they'll actually deliver by Oct 1st, since they don't actually guarantee they'll deliver until Dec 31st.

Once again

HashFast & Cypherdoc

Explain to me like Im a 5 year old why if HashFast (Or whoever is the parent company) are a legitimate IRL business

1) Why are you BTC only & NO credit cards
2) Why do u need pre-orders and payment in full
3) Why dont you just take a down payment (non-refundable if you wanted)

4) With a real order book of downpayed orders it is fairly easy to get a CAPEX loan for the production run

Bearing these things in mind how the fruit cake are you guys not a scam and either

1) FastTalked a respected member or
2) (just putting it out their so dont have a fit ) Paid Cypherdoc off

It just does not make ANY SENSE whats soever KNC after an initial start did and do CC

Intrested to hear from both Cypherdoc & Hashfast rep to reply to my vaild questions :/

What does that mean? I thought "tapeout" just meant sending files to the fab. What actually happens in a "mock tapeout"? Do they just check for problems or something?

I don't doubt that you'll get your chip on time... I'm just curious about what the actual process entails.

Hashfast cant or wont answer real questions

Can you please address my valid question as outlined ?

too bad your prices suck and only accept BTC

Also ITS-OFF until u address some valid question!!!

i'll take your questions.

no one's answering you b/c there is no one right answer to any of the questions you've asked.  all you've done is give a bunch of your opinions about how a legitimate business should run.  you're trying to impose your opinions on a company who has legitimately decided to do business a different way.  

and it's a way that isn't even unique, as accepting BTC's only is how Avalon has run successful batch 1 & 2's.  it also appears to be how BFL will be taking orders for their new 28nm along with bank wires.

what you need to start appreciating is that this is the free market.  no one is forcing you to use BTC-only to buy an asic.  you have a variety of companies with different payment policies to choose from.  for everyone of those payment options you've recommended, there will be plenty of ppl and companies who won't agree with you.

my advice is to just do your due diligence and pick the company and the payment method you're comfortable with.

No more BTC only for me,ALMOST got burned by BFL & currently smarting pretty badly from my dealings with Avalon.

Good luck!!!!!!!! I'll be watching,but not getting my hopes up  ::)

i appreciate your misgivings.  i was one of the lucky ones who made it thru the Avalon gauntlet unscathed with a Batch 2.  i've had no problems with the units either. 

there will be other companies who also deliver using a BTC-only method.  you just have to do your due diligence to figure out who that will be.

Hi,

I have a few questions of behalf of our "little mining co-op that could":

1. Please give us more info on the Miner Protection Program. Anything you can share is appreciated but a lot of us have put our faith in your statements and incurred fees and lost opportunity costs so that we could put BTC/$ towards helping your launch and ordering our own B1 units. Some of us risk cold nights on the couch if we look stupid (well, stupider than usual) to our significant others.
2. Is this Mid Tower rack mountable - as in integrated or add-on sliding rails? If you're serious about this being a commercial device, it needs to be rackmountable & slideable so that it doesn't need special considerations - like the non-elegant platform method.
3. Any update on the shipping zip code for outbound shipments? As a Group Buy coordinator let's just say this is useful info.  ;)
4. What kind of upgradeability, if any, will the stock B1 units have by themselves? Can we double capacity? Do we need to buy bare PC modules? I say this because we all have to be honest about the brutal Darwinian nature of Moore's Law applied to ASIC manufacturing, Satoshi's elegant algorithms, and the marketplace.
5. Also, what type/wattage PSU do we need to do to overclock these sweet lil babies?

Cheers & I wish you all well. A lot of us want to support domestic BTC mining machine manufacturing and I, for one, took the step from dithering on several mfgs. to going to full blown organizer mode to be part of a low cost GB on your B1 launch.

Thanks for the update for this week. When are you publishing the order book?

Fine so obviously you are taking the low road...

To even use BFL as a case in POINT...really you want to go there ?

So these guys are not a IRL company as you claim....  !!!

Just another BFL style operation getting the customer to take all of the risk with no recourse ...

AWESOME...

Your business model is SCAM OPERATIONS 101...as has been shown with both Avalon (of late) and BFL (the kings of this process)

You hijack pplz money and take them hostage with no reason or motivation to be held to your part of the contract...this seems to be your reasoning to not consider down payments or anything else i mentioned

Will be watching closely.. :D

@ this point to any potential buyers KNC would be a safer bet !

We *fully* understand miner skepticism towards ASIC companies.  It is rational and justified.

Re: why sales instead of equity, HashFast is not the first technology company Simon &I have founded in Silicon Valley (see www.Devicescape.com).  
There are critical differences between companies that start out by selling pieces of themselves and companies that start out by making products their customers want.  
It defines who your #1 priority is, for one.

Roughly 90% of HashFast is owned by us and the people who work here - and the other 10% is by our families and friends.  
Further, everyone here including ourselves is subject to a 4-year vesting schedule.  
Which means that what comes of this to any of us is dependent on creating long term value.

Re: why BTC - we support BTC and are using it for as much of our business as possible.
We are aware that this is costing us sales. That's OK.

Re: 'how are you different', we feel it's best to let  the miners who have visited our offices in person speak to that.


Eduardo deCastro
Founder and CEO, HashFast

LOL!

Taping up boxes and moving to a location where there is no extradition you mean.

Translated: We understand your fears, We too hope for the best. (our success)

But we will be needing your BTC if we are to succeed. Understand? Good. Then Pay up and get out of my sight. Get busy praying.

Edit: By the way, our offices are really nice. Really great carpeting. Our staff are also great conversationalist. We actually talk to one another every day.

http://www.odorxit.com/CS/pic/PicA2L.jpg

"We want to grow the BTC economy" ...u going to use that little chestnut ..lolz

The fact that it is un-reversable and in some ways by-passes a lot of fiat laws ...these factors never came into your deliberations on the business model you are using ...i loled again

U need long term b4 u can reap rewards of the shares register..... director drawings.... 250k salarys ....IT services CAPEX bills to companys owned by you ...the lists go on and on to negate any of the "LONG TERM"  Arguments you put forward

Long story short you guys are another unproven,unfinanced group of cowboys using a notorious Sales methodology that has been abused again and again in our community ...so you guys are full of it plain and simple...

BFL 2.0 ! :P

Whats the hand print on the carpet ..was somebody getting it  from the rear...Ohhh wait that was a recent customer getting it up the arse by BFL 2.0

All new customers are taken too the office for the Hashfast induction process once they tx their BTC

Gives them a feel of what more of teh same is comming to them ..lolz

It's to give you an impression that homo-sapiens use the property. (that and an Trezor (http://www.bitcointrezor.com/) Vault dropped from a tray)

"We want to grow the BTC economy" so that's why we're only accepting BTC. Yerr..... okay. LOL

Avalon said that as well and then they went ahead and fucked everyone over as people didn't have the option of a chargeback or paypal complaint.

And then most of the questions you just outright ignore and others... "we're under NDA bro".

And your term allows you to mine with your customers miners pretty much from late October until about the end of the year without any consequences. I mean come on, free BJ machine printing money out of thin air, why wouldn't anyone mine with it for a while before shipping em out? Your terms allows you to do it so why not?

The price increase in BTC is more appeal to only accept BTC as form as payment...

Don't they use Bitpay? Which converts to fiat anyway.

I find the explanation why you have not brought a company to the IPO stage in your earlier career, poor client relationship management, and lack of integrity.

We can imply that your team is not well recognized in the venture capital circle, as no VC is willing to back your venture, so you have to fund yourself by pre-selling.  (see blue) We know that there are thousands of VC fund in the Valley, and no one wants to back you. Not a sign to be a winner.

We can see you cannot control your impulsiveness, as you keep posting before everything is prepared. You are very lack of discipline. Another factor will bring a hardware manufacturer to delaying again and again.

Conclusion:  HashFast, the LOSER

I've got a real question; as far as the MPP goes is ROI going to be calculated in BTC or USD.  I think a lot of people expect that since payment is being made in BTC that ROI will be calculated in BTC but it is ambiguous in your original announcement of the program.  Clearly there are different risks/benefits for both you and the customer depending on which you choose.  Which is it and can we expect a more concrete documentation of the exact terms of the MPP at some point?  I'm trying to decide if I want to hold my BTC or invest in more mining hardware and this would be one consideration in my thinking.

Can you do future Q&As in another venue that doesn't devolve into people posting pictures of dirty carpet and droning on endlessly about PayPal, CC's and the evis of bitcoin only pre-orders?

Exactly that - they require a 'mock tapeout' before the real thing in order to check for simple mistakes. Things like that the metalization layers for the macros we have included (e.g. licensed temperature sensor) match up with the rest of the chip, and with what's on our order.

With regards to the MPP, will HF offer assembly into baby jets or Sierras and if so what will the assembly price be for a BabyJet case.

Dear HashFast your answers will make our "little mining co-op" stronger ;)

"It's -on-"? What is on? The thread-starter frenzy?

Does the HashFast crew really has to start 5 new threads per day?

I cant decide which i like less a company like terrahash that does not talk to their customers or all these new companies with multiple threads saying "Order from us".

The community will only fall for so many pre-orders.  At this point..... i think if a company does not have product or chips to sell they are better off waiting and selling at higher price once they truly have something.

I should have gone for a degree in CAD.... it seems that if you draw it and looks good they will come.  Insert cad rendering "HASHFASTER 4.0" who wants to pre-order?  We can render it when someone "goes to get coffee"!   

I'm not sure that's a human hand print.  Looks almost like racoon.  Given it's in CA, and the relaxation of the Service Animal definitions, maybe it's from somebody's Service Racoon.

Seriously, it looks like a baby's handprint, crawling on the carpet.  Open employee culture.

Alright, you got me you cybersleuths. It was a yeti.

That fits.  Northern CA is bigfoot country.  And I hope it wasn't a baby's handprint.  I had a girlfriend one time who worked for Smithsonian.  She wouldn't walk barefoot on a carpet; claimed the fire retardants in commercial carpeting were carcinogenic.  Anthropologist, trained at Berkeley.

Okay, I'm done with levity and thread hijacking.  Back to business, everybody.

Alright.. so.. well.. it's on!  ???

Actually, I think it's off, now.  You can't expect executives to hang around now; it's only 8AM in CA. 

I just get a worse feeling all the time about things. 

BFL pulls off another layer of ponzi to keep the industry in disrepute. 

Everybody keeps to variously spun pre-orders, with attendant learned explanations why There Es No Other Vay. 

The network flirts with a half peta hash, and ASICminer is down to around 8% of that right now.  Unknown-origin hash power is at an all time high.

There's evidently a huge amount of ninja chips coming now, and continuing to come, onto the network.

Feds are beginning to sniff at bitcoin in earnest.  Taxation law can't be far behind.  The exchanges are under pressure.  And, still, nobody uses the feckin' coins in a big way, so the outside world continues to see it all as one big boondoggle.

The good news is She's finally dressed and ready for brunch, so that makes it Sunday morning.  So it's all good.  I'll try to pay for brunch with BTC, and let you-all know how that works out. 

Do not forget to get spare BTC on the way :)
http://techcrunch.com/2013/08/16/bitcoin-atm-funds-first-run/

hey, hey, that's a pre-order!  must be a scam!

actually, that ATM is going to be a real hit.  i used to think they were an anachronism but now i think they have a chance to blow the doors off this thing called Bitcoin.

Im not an engineer, and Simon might have to weight in here, but during a 'mock tapeout', we send files over to the fab, and they run some verifications against them.

-John

Being able to buy bitcoin for cash would be pretty useful, given how much of a PITA it can be to deal with banking b.s.

John, when will you post the order list publicly? I notice you've removed that from the site now.

Hi Everyone,
We launched HashFast.com/blog.

-John

WOW ! Very busy peoples ......

but .... can I see ONE evidence that the product is real ?

The store says 125 BJ on stock. Why it's difficult for you take a photo of this 125 pieces on stock ?

Without an evidence my opinion is that this is a SCAM.

+1
BTW a bitcoin ATM will end badly.  As in I put my 100 in but that's not my wallet.  Go prove otherwise and give me back my money.

What do you mean? If you ask for your money back whoever owns it can just say no. The bigger problem is someone could setup a fake bitcoin ATM that just takes money and doesn't actually send the BTC...

No way.

All it would take is one non transmission for the machine to be exposed.

So WTF does a shinny office have to do with all the delays at the fab/engineering problems/shit that may happen a very willing/honest company may face when manufacturing something like this?

You are offering this "elaborate" mining protection program, which offers questionable protection since it's also based on your yet-to-be-real chips, yet you are refusing real miner/buyer protection and only accepting BTC payments, yeah right...

I get this is a free market and that you're probably a willing/motivated group of people, but you're offloading all the risk on your investomers and you should be honest about that.

I have posted it here:
https://hashfast.com/order-chain/

thanks John.