Bitcoin Forum

10/17 PM update:

Thank you to firsttimeuser and the rest of the co-op for keeping this upgrade promo alive!

I listed this as Closed with an asterisk because orig. R1 shares owners *still* can purchase their allotted R1B shares all the way up until the upgrade parts ship.

However, I think it's fair if you pay the R1B purchaser of your allotted share $2 extra because they basically loaned you your $43 share. This R1B upgrade for Batch 1 buyers is now complete and is in the official order chain! See page 4 for details.


====

I'm setting up a thread for open voting, and discussions on major decisions for HashFast Baby Jet owners from Round 1 of my first Group Buy. Thank you gentlemen! I truly wouldn't be here offering a 2nd Group Buy and GBEC services, if you guys hadn't believed in me in the first place. From the bottom of my heart: thank you. This is a continuation of DZ MC Round 1.

Next decision WRT to voting is: For the miner being hosted by firsttimeuser: How much overclocking are we going to do on our HashFast Baby Jet?

Current choices are:

- None
- 10%
- 20%
- 30%
- 30%+, We got water cooling and A/C, yo!

FWIW: my first major overclock was an Intel Celeron II OC'ed from 300 Mhz to 450 Mhz for a free 50% performance upgrade! FSB change from 66Mhz to 100Mhz & you were golden, back in the day. [Yup, my kids say I'm old]

You can vote via PM or public voting. You're free to state your case as to how much or how little overclocking we attempt.

We'll step up overclocking to check stability instead of taking huge jumps as far as clockspeed, whenever possible. You just need to vote before...gee, delivery in November, so there's no rush. Please vote or check in with your opinion whenever you have time. Cheers!

i vote 10% first week. then do a new vote depending on results. no more then 15% no less then 5%



 my case for 10% is long term use goal. {24/7/365 =longterm } as  it is easy on gear.

 I ran a lot of gpu's to mine and slight under volt with a bit of core over volt allowed for trouble free running.  if we had 5 setups I would say do 0% 5 % 10% 15% 20% 25%  and if one dies we have more running.

 we have 1 chip and 1 board  so 99%  up time would be better then over clock with a big time crash.

Great points Philip. Vote and concerns noted. Thanks for voting.

'Tis true we only have 1 rig if we push things too far & release all the magic smoke from our mysterious black box. Also, don't forget this unit is operating in firsttimeuser's house! I think his wife/GF and/or roommates will probably be a tad upset at us if our mysterious black box sets fire to the furniture or whatnot.

Besides: We all know what happens to mysterious black boxes once all the magic smoke comes out right?

Edit: I'm showing 3 votes on the poll, but I only have 1 official vote so far.

My personal opinion is go for overclock but do it in stages.
 We may be able to abuse it more then we thought originally :)

What no Oil Cooling?

Nah man, didn't you hear that the kewl kids are cooling their server rooms with hot air nowadays?  ;)

http://www.wired.com/wiredenterprise/2012/11/facebook-nc/

Also, firsttimeuser has 24/7 AC and I'm not sure how happy he'd be about 3M or mineral oil leaks all over his home if anything bad happened w/ leaky seals or components.

News from Simon Barber on CH Forum:

Look forward to a special promotion just for those first batch customers. Launching soon.

Lucky us gents!

==

Also R3 Co-op member -Redacted- bought 2 of my shares for R1 so I can apply them to R3/R4 if necessary. Thanks -Redacted-!

I also donated half of one of my R1 shares to one of our fellow R1 members who has some difficulties in life, you & I don't face.

So: For Round 1, my share/voting power is down to 7.5 shares. This is down from 10 shares.

With the latest news about the B1 promotion: Who's down for doubling our hashrate (100% more) at only 25% more?

Place your votes here either publicly or via PM. I'm voting immediately with my 7.5 shares for the upgrade.

Cost should be $38-40 per share, depending on shipping.

Upgrade :)

Came out to $42-43 per share with shipping when I calculated it in the R2 thread. Shipping was $138 - 187 IIRC w/ my fake order.

Gents, I tried PMing everyone but I'm limited to 5 members at a time & I'm starting to fade out here tonight. Here's the DropBox link and ownership updates.

Here's the latest ownership breakdown. -Redacted- bought 2 of my shares. Also, I'm donating half a share to a R1 member but I won't list it so as to not call out the member it's being donated to.

https://www.dropbox.com/s/3fbc2d0zqsvbp6x/DZ%20Co-op%20Share%20Owner%20List%20-%20HashFast%20-%20Fall%202013.xls

Please let me know if you have trouble viewing the spreadsheet or if you have any questions. Thanks!

  I would pay 42-43 for the upgrade

Yes.  Question.  Why does line 9 get to have their withdrawal address listed in a bigger font when I own more shares?  (  ::) )

I would go $42-$43 for the upgrade...

I'm sorry I didn't even notice TBH. Aren't all numbers the same in the minds of math teachers?

Do you suppose they prefer some #s over others?

Thanks for noticing my awful spreadsheet editing late last night. What I don't notice, I can't fix cuz I ain't perfect because I use the word ain't.

Don't worry, I'll change it during the first miner payout.  ;)

Edit: Ah! I got it. Political spin: it was merely an abstraction to show that we're all equal in this co-op.  ;D

I'll set up a wallet tonight for fundraising for the double hashrate upgrade, if you gents want to collect BTC for this.

With express shipping, it appears to be $43 per share, using bitstamp rate at time of your BTC purchase or transfer.

If we don't raise enough funds in, oh about a month?, I'll refund anyone that paid, with no restock fee.

Gents,

For those that may have been away or on travel: If you missed the news: HashFast is currently giving Batch1 owners an opportunity to double hashrate at only 25% extra. Est. to ship 1 month after our miner is delivered & it would double our hashrate well before any MPP could kick in at 3-3.5 months.

The cost per share would be $43 with Express Shipping AM delivery.

Just for Round 1: Here's the wallet I've set up for our HashFast Baby Jet upgrade if you guys want to go for the upgrade:

1C6wCvpr8ycyJEBkvDL5Y6z3aC8EFcCKvS

Please PM me the relevant details if you proceed:

Subject - DZ HF R1 Upg., 1 share, (BTC equivalent of) $43
Message Body - Tx ID or Tx ID link

As mentioned: there's no restock fee if we don't come up with enough funds to double hashrate, and a refund is needed.

==

Also, FWIW, there's a healthy demand for our co-op's HashFast shares if anyone wants to pull out and sell their shares, or if the don't feel like participating in the upgrade program and feels that they're being pushed into extra payments they don't want to do.

Please PM me if you're interested. No hard feelings as I understand things happen and the shares do become 25% more expensive (of course, 100% has already been paid).  ;)

Hmm, as someone pointed out to me via PM: there's nothing that says someone can't buy out *your* share of the upgrade and they, the new buyer, get the benefit of the upgrade of the additional 400-500GH/s. Great idea!

That way, even if someone *doesn't* want to pay more for the upgrade, they still have their original purchased hashrate yet it doesn't hurt the rest of the R1 gents that want to do the upgrade & benefit from it.

DZ, what's the deadline to make this payment please?

I would gladly buy an upgraded share from a B1 GB member who dosnt want to pay the extra!! PM me, I have the BTC ready! and to be fair im willing to pay half of the total for a regulat B1 share and the upgrade.  it dosnt feel right that I can buy just the 25%cost upgrade without a stake in the initial GB. 

I am also willing to buy the upgrades for members that don't feel like it. Maybe 2 upgrades on top of my already existing 2 shares.

Just FYI...

That's great to know! I'm even getting an offer to buy out the whole R1 GB so that the B1 R1 upgrade can be secured as a certainty.

We'd work out a deal with the orig. share owners that they could still buy back their share at-cost all the way up until the upgrade ships (sometime in Dec.) so that:

1) The co-op isn't kept from being able to take advantage of the limited quantity B1 upgrade promotion.

2) Yet the original buyer retains the option to pay for the $43 per Upgrade Share up until the upgrade ships.

==

I think it's fair, promotes speed in us being able to take advantage of the promo, and it still protects the original share buyer's rights.

Thoughts?

If speed is important (so that we don't miss a deadline) I think it's a great idea.

The only caveat is that I wouldn't be able to buy any additional upgrades on top of my shares...

Paid for my 2 shares worth of R1 upgrades.  Be more than happy to pay for some others, too.  Double your hashrate, double your fun !!

-Redacted- is the first confirmed payment for R1. Thanks!

https://blockchain.info/address/1LD49ExSFQrfG4RF9uSQWnejZtMPVH9fKH

Seeing 2 shares paid for in R1 so far. We'll make sure to get any R1 upgrade share owners into R2, if R1 lags for whatever reason.

FWIW: This is an awesome deal at the moment: $43 for 10-12.5GH/s for a November 1 HF miner with the upgrade scheduled to arrive about a month later.

For the acquisition of upgrade shares: no deadline but quantities are limited and, not to be a drama queen, butthis promo could end any day.

[Exception for orig. R1/R2 buyers: if upgrade hardware ships an est. 1 month after miner arrival, at this point it's too late for the original R1/R2 to buy their upgrade share(s) as they waited much too long]

For R1/R2 original share owners: if the upgrades are purchased without their funds, as long as you pay for your upgrade shares before the upgrade hardware ships, you can claim your upgrade share(s) even if you didn't participate in the original fundraising.

Sounds fair to all, right?

Talked to Cara a little while ago:

- Great news! They're still on track for that Oct. 23-30 shipping window. That may be the very latest HF news on the forums ATM.

- Cara says she "hearts" us! I was giving her my elevator pitch about providing access to double and triple digit pricepoints HF can't hit yet and she said she "gets it" and that she hearts us. So there. <3  :-*

(Will post this in other threads for those wondering how HF is doing)

======

Gents: there's a strong possibility we may pool the funds from a handful of co-op members with the understanding that the orig. share owners deserve to buy their upgrade share(s) all the way until the upgrade parts ship in late Nov./early Dec.

Please let me know if you have any objections to this plan as time appears to be of the essence for this limited quantity promo that's equivalent to 75% off HF B1 shares.

No objection, I've paid my 2 shares of upgrade in R1 and R2 and volunteered (along with thomas_s) to buy whatever number of shares are outstanding to make sure we don't run out of time (accepting the caveat about original share members being able to buy back until upgrade time) 

Noted. Thanks -R-!

   so I need to send in .34btc?   for this?  I have to wait to pay as I sent in a shit load of coins for the knc buy.   I am good for the .34 btc  ty phil

Philip,

I *could* pay your .34 BTC out of the $525 I still owe you for R1 UPS/Battery backup (which is overkill eheh).

That way I'd owe you $482 (or mixed BTC equiv.) and your R1 upgrade share would be marked as PAID.

I just had 2 BTC added to the wallet from a bet I won re: BFL failure to meet Sept. deadlines for reaching July 6 orders. I'm marking that as PAID for another R2 upgrade share (2 total upgrade shares for me; new upgrade spreadsheet code coming fo' realz in a bit; only helped sell another $16.6K worth of below cost miners & UPS/Batts in the meanwhile).

The extra 1.3 BTC I had added today from winning my gentleman's bet will be avail. for securing R1 upgrades if we get far enough along w/ R1 fundraising.

  make it so bro  tab is now 482 thanks!

You got it. Thanks again Philip!

I won't even bother creating code yet for this Round's paid B1 Upgrade wallet.  :P

-Redacted- has paid for 2 shares for R1 upgrades.

I have funds on hand at mcxNOW to buy 3 R1 upgrade shares at any moment if this gets close (2 R1 upgrade shares for me, 1 for philipma1957).

If R2 gets close to finishing, I'm transferring R1 funds/shares to R2.

We'll rebalance upgrade share ownership as necessary. I'm also close to opening this up to general fundraising for R1 upgrades, with existing co-op members getting preference before the rest of the GB forum and the orig. buyer's rights protected with the option to buy into the upgrade all the way up until the Upgrade parts ship.

DZ,

No reason to go to the trouble and complexity of opening this up to non GB owners.  Just tell me in $$ or BTC how much more you need to cover the R1/R2 upgrades and I'll send it to you in your preferred currency.  (With the understanding that share owners can buy the upgrades back from me, up until the parts get shipped.) 

Same but preferably with BTC, I have no problem giving it to original owners at cost but if its being opened to the rest of the forum I'd prefer to keep the additional shares for myself, as you said in other posts / other topics they had no skin in the game, but when the item is right about to ship they get to jump on board (kinda takes the risk out of it for them)

^ This...  Maybe total up how many shares worth we need for both and Thomas_s and I can split it.

Ah, here's where this wayward R1 thread went. I was looking for this thing.

Guys, I updated #s in the R2 thread. g'night!

Bump, for R1 gents wondering where their thread went.  :P

I will likely open up the additional R1/R2 HF Baby Jet upgrade shares officially tonight when I get back home (that is: if thomas_s and -Redacted- don't buy the rest of the shares outright).

Hey DZ
Post "updated" wallet address for it ;)

We keep asking but you don't tell us where our money goes lol...

Hey, I set up the wallet for R1 upgrades on Page 1 of this thread. Can't help it that it got missed: 1C6wCvpr8ycyJEBkvDL5Y6z3aC8EFcCKvS  ;)

I haven't checked it recently, but -R- was the only person paid up for their R1 shares (2 shares) before the forum went down. R2 has its own upgrade wallet in its own thread.

I mean for us buying the shares out lol, I know -R- can buy 1 himself if not both. ie, tell us how much we need to pay per share and where the monies go

The forum came up right before I went to bed last night.

Didn't get a chance to go thru PMs and spreadsheet updates yet but that's #1 & #2 on my list when I get home tonight. I'll have updated #s and spreadsheets this evening once I go thru the PM backlog.

Yeah, how much...  How many are we short on R1 and R2 ?  Maybe Thomas and I can split whatever's needed, so we can get the upgrades ordered...

I can take some as well.

Round 1B: HashFast Baby Jet Upgrade shares, 75% off orig. price: $43 (vs. $155 for R1), 10-13GH/s, includes MPP.
Payouts sent every 2 weeks. Before payout, 2.75% Hosting/Management fees are deducted every 2 weeks once operations begin.

-------------------------------------------------------------------------------------------------------------------------------------------------
|Shares|    Username     |          Wallet Address             |Share Status|             Notes                     |
-------------------------------------------------------------------------------------------------------------------------------------------------
|  0   |  DyslexicZombei | 17a29H9BhUnaPZgZSdFifPndGxxWQXayuH  |    PEND    |  / Your GB Coordinator / Net. Eng. / Primary Remote Admin      |
|  0   |  bobsag3        | TBA                                 |    HOST   | World Class vetted Hosting Avail., W/ Lowest hosting costs        |
|  0   |  a..........m    | TBA                                 |   PEND  |                                                                  |
|  0   |  jungle_dave    | TBA                                 |    PEND   | Remote Admin, former EE/Net. Engineer. Plants trees in Amazon!    |
|  0   |  firsttimeuser  | TBA                                 |    PEND   |    DZ Co-op Round1 HashFast BabyJet Vetted Miner Host         |
|  0   |  kaz911      | TBA                                 |    PEND    |   |
|  0   |  Adamln      | TBA                                 |    PEND   |                                       |
|  0   |  philipma1957    | TBA                                 |    PEND   |                |  
|  0   |  abuelau     | TBA                                 |    PEND   |                |               
|  2   |  -Redacted-  | TBA                                 |    PAID   |    Remote Admin, DZ Boxed Set R5/R6 orig. owner, Vetted GBC |                       
|  0   |  baros008      | TBA                                 |    PEND   |                                                                   |
|  0   |  thomas_s     | TBA                                 |    PEND  |    DZ MC Co-op Co-Leader, Vetted Co-GBC for R3-R6            |
|  0   |  hannibal42      | TBA                                 |    PEND   |       |
|  0   |  d...1              | TBA                                 |    PEND   |       |
|  0   |  trout              | TBA                                 |   PEND    |       |
|  0   |  BeepBeep2              | TBA                                 |   PEND    |   Vetted Co-op GBC    |
|  0   |  filharvey        | TBA                                 |   PEND    |   Vetted Co-op GBC    |


40 shares. 2 shares currently paid (10/7).

* 1.5% restock fee for Refunds ** 1.5% fee for optional BTCcrow Escrow protection and dispute resolution. **


PLEASE SEND A PM IF YOU SEE INCORRECT INFO. Mahalo!

It's a fugly but it werks.

GB1 Baby Jet Upgrade for 4 shares 1.4 BTC, firsttimeuser
Tx ID
034bd9d0100add71b670f5eab0dc9d6f01ea8d76a2ec8bfa113006b22a075553

Payout address
1DxMEbKicyAhBJRuHYQ6ViNS38R3zzHFJ2

Thanks

txid

4541fab3b4f8bb981dfe9170ed604ca780a0e590bddea0579d068f57bedd3161

26 shares wish my wallet had some more btc in it so I could get more but someone else will need to close out the transaction

From my quick math 8 shares open?

Still waiting for you to tell me an amount, and where to send it....

Finished R4 ownership/unsigned Tx mess, updated code on R4, figured out refunds and sent them, co-ordinated with Order 616 seller, got HF R2B upgrade paid for and CCd HashFast, went thru PMs, and worked on some sekret business related to the future.

Been a busy & productive evening but I ran out of time as it's 11PM again.

Will address R1B upgrade shares tomorrow but last I heard 8 shares out of 40 R1B shares were paid.

Fixed.

OK - tell me how much for the 8 unpaid upgrades, what currency you want it paid in, and where to send it....  I'll pick them up so we can get this upgrade ordered.

I will take four more if you don't mind  ::)

You bet! Thank you!

Of course, these come with the same pre-sales condtions as other R1B & R2B shares: the original share owners deserve their allotted upgrade share(s) back if they come up with BTC for them before upgrade parts ship. Hate to sound like a broken record, but I'm a tireless advocate about protecting my customers and their rights.

With that in mind R1B is CLOSED.

In fact, I'm dealing with refunds from here on out, so please only send BTC to R1/R2 wallets if you're an original share owner purchasing your allotted upgrade shares in R1B/R2B.

Of course, these come with the same pre-sales condtions as other R1B & R2B shares: the original share owners deserve their allotted upgrade share(s) back if they come up with BTC for them before upgrade parts ship. Hate to sound like a broken record, but I'm a tireless advocate about protecting my customers and their rights.
[/quote]
I think this rule must have a deadline... ???

I think this rule must have a deadline... ???

[/quote]

I think it should be available but up until the ship date is kinda a kick in the ol'nuts if you get my drift, they can pay the day before and save a ton and not risk anything I'd say a cut off around 2 weeks before the ship date or something.

maybe they (who are they? anons?) don't know about the Upgrade?
maybe just PM them for answers?

I think it should be available but up until the ship date is kinda a kick in the ol'nuts if you get my drift, they can pay the day before and save a ton and not risk anything I'd say a cut off around 2 weeks before the ship date or something.
[/quote]

True. I can't be expected to babysit everyone too. Trying to strike a balance.

What do you guys think is a fair cutoff date? If they've gone off the radar completely, you can't blame the rest of us for continuing on at...life.

There's *almost* enough funds to pay for the R1B unit. 11.1BTC in the R1B wallet.

No need to send BTC though, just waiting to hear back from an R2B buyer as to whether it's ok to move him to R1B & give him a partial refund due to R2B oversales.

Also: based on R1 open voting, it looks like we're shooting for a 20-30% Overclock, possibly pushing for 30%+ on the Overclocking.

Please PM me if you have any strong objections to this plan. Mahalo!

==

Also, some R1 folks are trickling in via PM so we're going to be oversold and some upgrade shares will be refunded.

We can pay for it today.
11.1 BTC is $1554 at today's rate..
 

It turns out to be a bit more complicated than that:

A. 26 R1B shares were bought by someone that wasn't in R1. Now, much of this buyer's funds may be used for Round 7 or another Round. 5-10 R1B shares will likely be kept by this buyer.

B. To offset these shares going out: baros008 has 8 or 10 R2B shares moving to R1B that's currently sitting in the R2B wallet. I'm awaiting word as to whether he prefers 8 or 10 R1B shares. I've also given him access to my eight R1B shares since he was kind enough to move his 8 R2B shares to here (or to the target HF wallet) when it we became oversold in Round 2B.

C. I've also been hearing from R1 folks starting to filter back to the GB forum (some were lost, sorry about that; R2 was a spur of moment decision). I do expect payments from 1 or 2 R1 members shortly.

Let me take care of A tonight, because that's the one thing I can control at the moment. I hope to have further clarification and hopefully a resolution tomorrow for R1B.

Again I sent the BTC to push the order thru...if R1 shareholders claim them as long as they pay me the amount I paid per share they can have their shares back, otherwise from what was posted earlier they become mine =)

I have some news regarding the HF R1B fundraising.

The wallet was full, but most of it was Thomas's. He's removing 19 shares from the wallet to buy R9 shares. These transactions will take place this evening.

However, this 19 share loss is offset by:

+10 shares PAID by baros008 (funds currently in R2B wallet; oversales)
+2 shares PAID by abuelau
+2 shares PAID by trout (funds currently in R2B wallet; oversales)

So: we need to raise funds for *five* more shares in R1B fundraising for the HF double hashrate upgrade promo at 25% extra. Preferably, these 5 shares will come from R1 members paying for their allotted upgrade shares. There's no padding in this at-cost R1B GB; we need those 5 shares paid to purchase this.

Thanks.

PM me the amount we need in BTC and where to send it, and I'll take care of those 5 upgrade shares so we can get this paid for.....

Thanks -R-. I need doublecheck #s (you know how it goes) but I'm adjusting this down by 1.

I'm paying philipma1957's R1B upgrade (funds also in R2B wallet) as part of my buyout for the R2-9 Big ole UPS unit (one of several) so we need 4 shares paid to proceed.

Here's the thread w/ payment info: https://bitcointalk.org/index.php?topic=296199.msg3252050#msg3252050

1.19461036 BTC sent for the last 4 shares....

Thanks -R-! I have you down for 4 shares PAID in R1B, also with 2 shares from the original R1.

Here's the Tx IDs:
https://blockchain.info/tx/a260587b4bf9248ac20783ec9d9def60469bab842b4a534da158c13ce23521df
https://blockchain.info/tx/e1eb77926403767a32e81dc73f3f6d984748cb12edff421beb03e0f0d5cc21e0

This order is finally in the order chain!

Still sorting ownership. Priority was getting this in official Order Q before the promo ended or quantities ran out. Will list official ownerships shortly.

One thing you guys could help me out with is sending me a PM for an email address I can reach you, as well as a confirmation of wallet address for payment of R1 and R1B shares you own.

You can also reconfirm your R1B ownership and wallet payout address with me, if you'd like, via PM so I can be absolutely sure I get your records straight. Thanks!

Thank you to firsttimeuser and the rest of the co-op for keeping this upgrade promo alive!

I listed this as Closed with an asterisk because orig. R1 shares owners *still* can purchase their allotted R1B shares all the way up until the upgrade parts ship.

However, I think it's fair if you pay the R1B purchaser of your allotted share $2 extra per share because they basically loaned you your share(s).

Any news on the delivery? Are we on time?

https://hashfast.com/updated-shipping-news/

 

what is status of this buy?

no ROI for 2 years..  >:(

But what about their buyer protection plan? Isn't it supposed to guarantee that we get an ROI in 90 days?

By ROI HashFast mean USD (insert F words here)
for more headache go here https://bitcointalk.org/index.php?topic=262052.2180;topicseen

Unless they changed their MPP, they are basing the protection on BTC not USD on stock hash power.

Can someone tell me how much GH/s each share of this group will get and what's the latest estimated date to get it?

R1B Totals are 40 shares, $1500 USD, 400GHS stock

Each share was about 10GHS without OCing and cost ~43 to include shipping. Its an upgrade so its expected to come in December, the original R1 is an early Batch 1.

abuelau, did you upgrade you original share(s)?

Yes I did.

So that means you (and me and they) have 1/40 per share  plus the Upgrade for $1500 (400 Gh/s)
Total 800 Gh/s at stock estimates.. (the Upgrade supposed to be shipped 1 month later)
MPP will kick in sometime after 3 month if ("blah blah blah" (c) HashFasf)

sorry can't explain better..

That was a perfect explanation. Thanks firsttimeuser.  :D

But... so this means that the MPP is something in addition to the upgrade we paid, right?

MPP was included in the original purchase and from what I've been told goes into the upgrade but I'm not 100% sure on that.

The upgrade is upgrading your shares so if you didn't purchase the upgrade you don't get the extra hashpower.

So apparently they could offer a refund now:


Should we take it?

I VOTE refund.  I would also consider taking the refund and putting it into dZ coop's  r9-r10-r11-r12-r13 fury machine.  My logic is this.  

Dz's coop has very little gear from  HASHFAST  ,   As a coop we are better off that hashfast crashes and burns.  

It would be good for our r5, r6 ,r9, r10 ,r11, r12, r13 in Hand gear.

 I forget all the details on this buy but we used cash not btc as the number.


  I have 1 share and 1 upgrade  what was that in usd>  the upgrade was 43 usd what was the share 155usd ??

 so 1 share + 1 upgrade = 198 usd?    that would be about 1.5 shares of r13 .

  I for one  would do that . 

Disclaimer as to my math for the above    it = very fuzzy.  but close

Philip publicly voted for a refund.

I'll take that as a call for a vote in R1.

Please let your voice be heard and we'll go from there once we have a majority decision.

would the refund be in BTC (at the time of purchase) or USD?

My vote is: if in BTC then yes, if in USD then no

I think that if they were going to refund you in the currency you paid with. That's what I recall from their commetns. We paid with BTC.

I agree with this!

We will see tomorrow.

looking for an update

Hi guys,

Looks like the general view is for a refund, I vote likewise.
It would be great if we can get this from Hash Fast quickly but that is still to be determined.

I also agree with this proposal to transfer my shares to a new DZ GB post refund .

Would be nice if Hash Fast could give us some information regarding this matter but it seems that this is not happening.
Any update would be greatly appreciated.

Good luck DZ and keep us posted.
 

after deciding that we want a refund (I'm not sure we have a majority yet), the main
question is getting the btc back from HF. This may not be trivial.
What to do with the funds next (invest in other GBs,
bet on horses, spend on blow...)  is a different and I'd say an unrelated question. 

you may be correct if HashFast continues to delay  they make BFL look okay.  (that would be hard to do).


 https://bitcointalk.org/index.php?topic=327396.0   

bump for info.  anybody here any info about this one??

Just checking up here as I've not checked on the group buy in months. But with the BTC price going crazy, I'm interested in what is happening?

I see that fasthash are behind schedule and people are asking for refunds. Any update would be great. If there is a refund is it in BTC? If we wait for hardware, and it comes, Is the upgrade offer still open for $45?

Phil

Hi Phil,

Last I checked a few days ago on the HF thread: they were denying refunds per their ToS.

If there is a refund, their ToS states that refunds will *not* be until after Dec. 31.

The sentiment seems to be almost universal in R1-4 to seek a refund if it is available.

yeah this one seems to be a bust.

We win some, we lose some.  :-\

Would sure be nice to have our BTC back, since we all have nothing to show for it so far.

If we don't get a refund because they make the Dec. 31 deadline: Hopefully, MPP will help make up for some of the lost time [my opinion is they're so late,that when they do ship, they might as well just stuff their rigs with whatever GN chips will fit].

HashFast news

Finally, this sounds like good news!

I am in need of some BTC, so I would like to sell 2 x shares of R1 and corresponding 2 x upgrades of R1B. I paid a total of BTC 3.1 + BTC 0.62 = BTC 3.72 for these.

I would be willing to sell the lot for BTC 3.5, please PM me if you are interested.

So, the rumor is that they are shipping end of this week... Any truth to that?

Who knows, Dave.. After all their lies.
However I'am sitting at home and waiting.

I've been waiting to hear real news before I ordered the UPS for this unit to send to firsttimeuser. I'm paying in BTC so I was hoping for a max price in BTC before ordering since I'm paying that out of pocket (as a noob GBC during R1, that was before we included ~20 min. UPS/Batteries in our Round GB share price).

Good thing I didn't order this R1 UPS unit a couple of months ago just to collect dust. I would've been esp. pissed if I had bought it when BTC was under $200.

So: the UPS for this will be ordered for this miner this week since the rumors are that they'll allegedly ship at the end of the week.

==

With all of the failed and broken promises they gave us - remember when it was prominently displayed on their site to be shipping Oct. 23-30? pffft - the DZ MC is not even bothering trying to buy Batch 4 miners (esp. now that ALL B4 sales are final and there is NO recourse or refunds offered) with refund terms that are that draconian and HF's failure to meet their promised schedule.

If R1 and R2 Baby Jets don't arrive by Dec. 31, I'm immediately filing for a refund at 10PM Hawaii Standard Time on Dec. 31 (which corresponds to midnight on the West Coast where HF is located) so that we're at the front of any refund queue.

If they do manage to get this shipped before year's end, let's hope the MPP chips aren't far behind because those MPP chips were *originally* scheduled for the beginning of February (assuming Batch 1 was in our hands at the beginning of November).

If R1 and R2 Baby Jets don't arrive by Dec. 31, I'm immediately filing for a refund at 10PM Hawaii Standard Time on Dec. 31 (which corresponds to midnight on the West Coast where HF is located) so that we're at the front of any refund queue.

If they do manage to get this shipped before year's end, let's hope the MPP chips aren't far behind because those MPP chips were *originally* scheduled for the beginning of February (assuming Batch 1 was in our hands at the beginning of November).
[/quote]

Get ready DZ

I"ll accept BTC only.. even if it's $10

abount refund:
apparently it's not at all what we hoped for.
As far  as I understood from the HF thread, all they
pay will be the USD price of the unit.
That is, we only get a fraction of the BTC we paid.

I wouldn't accept that.
(of course now every HF customer would gladly accept a refund
of BTC he paid. But that's not on offer, that's something we would have
to fight for.)

If necessary, It appears that our best bet is to get whatever refund we can for now, then fight for what we can later like the claimants in the coinlab case, since we need to build consensus first to join in a suit and class action suits can take a long time to sort out.

Anyway enough from me about potential litigation on Christmas.  :P

Merry Christmas everyone! If you celebrate or don't celebrate this holiday, my toast of good cheers to you and your family is still the same.

I'm thankful for our customers and I'm thankful for you co-op members that have helped make this co-op the success it is today by helping us improve things over time and helping one another out with knowledge. 5 months ago I had no idea I'd form the biggest public co-op in the world for BTC mining.

It's an honor to be the founder and co-leader of a co-op full of so many like minded miners, and I'm both humbled by our success and very thankful to have met my co-leaders, which has resulted in round after round of world class values, and a crypto umbrella company founded upon the core of the DZ MC (with the co-op shielded as a sub-company.

Here's to a successful 2014!

it is Christmas  night in NJ I had lots of food .  I am nice and relaxed on the couch typing this. If we can get a usd = refund  we should take it. If a BTC lawsuit comes up it would be cool to be in on it.  But I am always a  take what you can get and move on type of person. I am not sure if anyone has a really big stake in this "loser" and does not have a stake in our winning rounds. I am sure some one may have went big here and light on r5+r6 or r9-r12.  If so they would want more then just usd /fiat back.

Should I accept or refuse delivery if it arrives after Dec 31?

Their terms say that refusing delivery is basically forfeiting it

NO, if it is with FedEx, by / on 31st, they are ok by their TOS. It is not delivered by 31st. It is ExWorks by 31st.

Phil

Are we sure that if we get the BJ by say the 5th and count with MPP we make less money mining than the USD refund?

no simply because btc price could go back over 1000  and we are still better off with the machine.   

Is there any proof they are shipping?

If they ship and it is in FedEx's on the 31st, they have delivered as per the TOS. There will be automatic no refund available, USD or BTC as they have delivered. If we refuse to accept then, we will probably be liable for further shipping costs if we want the device.

Phil

Interesting discussion point. Would they be off the hook upon setting up a tracking number? Or do they actually have to *deliver* to firsttimeuser before the 31st?

Pulling up this invoice I hosted at Photobucket for R2 (which we bought out from a forum member): http://i286.photobucket.com/albums/ll87/SurfSkateKauai/a8295a7b-3c53-4bb6-98ab-f74a3276e00e.jpg

It says that they're "guaranteed for delivery by December 31."

I'd say even this wording could allow for interpretation either way, but would require a contract atty. or several to argue it out. One *could* (to weasel out of a deluge of refunds) say: "well, we have tracking numbers but they are not picked up yet so technically we made delivery."  :P

As a *buyer* however, you would *expect* to have the durn thing in your hands for delivery to be considered as complete.

DZ did you get email from them?
like this https://bitcointalk.org/index.php?topic=262052.msg4178182#msg4178182

if not who got it? which email address will they use to inform us about tracking number??

Oh, I got the email alright...and was blown away that they so amateurishly leaked everyone's private emails all because of not knowing/caring about the difference between CC and BCC and Privacy Violations law.  ::)

I still haven't ordered the UPS for R1 because I'm still not convinced this isn't going to a refund. If they really do meet the deadline: Let me know if you're ok just buying a small UPS locally and I'll send you the BTC (except ahead of time) like I did with philipma1957 for his equipment, so we can buy a UPS in time, if this durn thing really does ship before year's end. If not, I still have time to do an order with Memory Dealers.

Thanks man.

never fear phil is here.

 i got your ups in hand and your psu in hand. do not buy anything. I got a used perfectly good sea sonic 1000 watt platinum and I have good ups the eatons in 3 or 4 sizes. .   if we ever get the gear I have the parts we need.
all quality all half price .  we can meet on route 9 in NJ halfway between Howell and staten Island.

DZ supposed to have another email from hf about refunds and we should make a decision based on their new f@#$% refund policy..
https://bitcointalk.org/index.php?topic=262052.msg4206216#msg4206216

I read that also, it seems that they aren't able to do current BTC / USD conversions at the time of refund based on their email as they need you to acknowledge this

Well, I guess we should start talking about what everyone wants to do. And then put it all to a vote.

But I would like to see some calculations on what 1 share could be possibly worth, compared to what a refund would get us.

Also if people do vote for a refund, could we possibly get more for it if we take it and auction it off?

Phil

Hey guys. Sorry for disappearing.
This is total BS on HashFast. I also wish we wouldn't have paid in BTC. I was a bit reluctant to give up all my BTC and now I'm really regretting it.

I hate the $#&* refund policy they are now coming up with but I'm not surprised. At least we get back what fiat it would have been when we "spent it" on the purchase date. People make these kinds of "mistakes" all the time anyway...I know I'm kicking myself for selling 130 LTC when it was $2.80, or 11 BTC when it was $18.

If they aren't going to do a "full refund" (we paid in BTC and we deserve it back IMHO) and the thing will get here in less than a week, I say we mine it.

If we paid in BTC I guess we had to expect them to convert that to USD immediately at the time...USD can be spent on most everything while BTC can't. It's just like if the price plummeted from $130 / BTC to $13 again, we probably wouldn't be like (HEY GIVE US 10X BTC BACK LOL) but in that case I think we would be fair and expect only the BTC we spent.

It's HashFast's lost IMHO they should honor full refunds.

But then again...

https://bitcointalk.org/index.php?topic=262052.msg4209084#msg4209084
https://bitcointalk.org/index.php?topic=270363.msg2894478#msg2894478

and

https://bitcointalk.org/index.php?topic=262052.msg4207245#msg4207245

and

https://hashfast.com/miner-protection-program/

We have MPP right?
"The Miner Protection Program™ was given retroactively to ALL purchases of Batch 1 Baby Jets."

So we really bought 4 Baby Jets, except the other three won't come until probably...May?

Also, in the new email, we are given 15 days to seek a refund. But the original terms of sale lists 3 months.


If we don't accept the terms of the email (take an 85% loss?) and seek a refund within 15 days, they could deliver it on March 31st and we would have no fight against it.

First off until some court some where in the world decides that fiat is NOT converted into fiat magically at point of sale to fiat the loss is 0 in fiat.   As of today every country in the world that charges taxes will use a BTC to fiat or a fiat to btc conversion to determine  the value.  the day we sent DZcoop our btc it was magically convert to cash/fiat about 150 usd a share.  this is a world wide law and if someone wins the case that btc should  be 1 to 1 it will be a first.

   Now if I recall I have 192 dollars invested in this 150 and then a 42 upgrade.  I do not mind any decision made since I am far enough ahead that 192 usd is not a big deal   yeah maybe it was .6 btc I do not remember.   But if someone has a lot of btc/usd in this  i.e. a lot of shares  I do not want that person to be screwed .   I do not think any lawyer would take a case for btc to btc and I think it is impossible to win.   But I have a degree in accounting not law. so WTF do I know.

 

A quick re-read of the terms that came with the invoices says that the refund would be issued in the form of payment (forgot the exact words and don't have it open) also on the invoice it states "Payment: 100% BTC"

Thanks Philip!

Glad I mentioned it publicly. Hate throwing more money after bad money, if you catch mah drift.  :P

It seems that if we ask for a refund they will try to make us sign some sort of forfeit of all ulterior claims (i.e., we are happy with the refund):


Which is unlawful and which we don't want.

This crap won't be easy.

Philip, the initial buy in was something like 1.55 BTC, not .6 BTC...

While I agree that $200 is not THAT MUCH, when HashFast started this out, they were leaning toward full BTC refunds, one person even has an email where HashFast got back to him (after a short delay, to go up the chain) saying that refunds paid in BTC would be in full...


Plus stuff like this...
https://bitcointalk.org/index.php?topic=262052.msg4213062#msg4213062

Plus you had cypherdoc mention that (at least HE thought,) they were holding all the BTC until the end of the year in the event that they did not deliver:
https://bitcointalk.org/index.php?topic=270363.msg2894478#msg2894478

I'm not saying there is all that much basis for a legal battle, but..."wtf" kind of comes up in the head.

My thoughts are everyone is happy with a full BTC refund if possible? Minus fee's incurred in the process of getting it? (Total paid was a bit over 58 BTC if I'm not mistaken)

They aren't doing that anymore. We will get a refund probably much closer to 14 BTC by agreeing to current terms...

so we are giving up fighting and accepting 85% loss?

https://pbs.twimg.com/media/Bc1hIecCcAAYuyt.jpg:large

Our plan is to still fight it, as they stated tho refusing the package still fulfills their end of the deal. Worst case false advertising as 400 watts is different from 450watts.

like I said in usd I lost 192-200 on this. 1 share and a upgrade. so my say is small.  but this company has been classic bfl all the way.  which means we will lose no matter what we do.  So for my small share I rather get this over as soon as possible and move on to other things. but if you have 10 shares and missed out on r5+r6 yeah I hear you.
  whatever you guys want to do go for it.

I am a little drunk now.. but this link might be interesting in terms of fight
https://bitcointalk.org/index.php?topic=392977.0

my off topic says Good Luck to you and to those who you wish the same ;)
oh.. 2014

No miner in hand, no trucking number, no emails.
Jan 1st 2014

so lets hope they send a refund and don't skip town.

Can't say how yet, but we're fighting this free proctology exam (AKA changed refund terms) tooth and nail.

Any update DZ?

Like I said: fighting this tooth and nail.

I am actually collating every frickin thing related to this and it's actually depressing me a bit because HF has failed so badly, and stressing me out a bit because certain people need certain thorough details before we proceed. Trying to keep the chronological details in order across multiple email accounts and wallets hasn't been fun. My prepwork related to this will be done tonight, 100%.

As usual: working my okole (ass) off for you guys.  :P

R2 may not have the luxury of fighting for a full BTC refund because we bought this out from someone that wired their money instead of sending BTC, but for R1, you better believe I'm fighting the good fight for you and me. We'll do the best we can for R2 but we may be stuck with a USD refund for R2. You can pass that on to R2, if you want. Busy as you know what at the moment.

Yeah we will not get refund in BTC for R2, fingers crossed for R1.
I would keep R2 gear for hushing it could make more $$ than refund for it.

Good Luck DZ, Thomas

thanks very much DZ, thomas, and all.


Since R2 has a slim chance of refund in BTC, we may want to rethink.
might as well run this thing, and get the most out of it (i.e. the late-also-additional-hashrate thing).
and pray so BTC keeps on going up.

thanks, DZ - all our hopes are with you !!

wow a btc refund for r1 would be really nice.   I dug up my payment info.


https://bitcointalk.org/index.php?topic=274055.msg2948629#msg2948629



https://blockchain.info/tx/53a634c037e1e8cadff640824d12e088f423e5625f86876f00c0466fa10d05f1


 it was 1.55 btc  and that is more then 1300usd now.   

http://hashfast.org/Main_Page
good reading

Any updates ?
Have we claimed the refund yet ?

UPDATE: They're forcing USD refunds on people that didn't request them if you missed that in the CH forum yesterday. If this is forced on us, we are *not* cashing this refund check worth about 1/8th of our orig. BTC sent for R1-4, and will consult with our legal team.

It was a major PITA to get all the evidence in place, and in chronological order for our attorneys but HashFast heard from our attorneys yesterday and we have an official support ticket in the system, FWIW. It's also been a drain on the co-op's energy to have to fight this in the middle of the move/expansion.

We're doing our best to get full BTC refunds for everyone that bought into R1-4 with Bitcoin (except for R2, which was orig. bought via Wire Transfer by someone else so it will be in USD; the upgrade R2B was paid in BTC).

To fight to get this full BTC refunds for us and to make sure we were represented by a battle tested legal team, we plan on deducting the legal costs among the 4 rounds. We estimate this cost to be about $250-300 at this time (could go up if we go to arbitration).

That would work out to about $2.50-$3 per R1-4 share (which includes upgrades for R1-2). The upside is: for those that bought GB shares with bitcoin, if we get our full BTC back from HashFast, even with this small deduction for legal expenses you'd be refunded 6-9x your USD value back from your original BTC purchase amount(s) depending on when you bought your GB shares.

If you paid in USD, these refund terms and legal fees don't apply, and we will send back the original USD amount(s) sent when our full refund arrives.

If anyone is not following this discussion on R2 (B) then let me inform you on whats happening.

Its been proposed that people who paid there shares in USD for round 1 will be paid back in USD if and when we get a refund. The refund if legal action is successful will return the 62 BTC paid by us.
This means by my calculations that 48 BTC would be paid back to the original investors - the legal costs. This leaves close to 14 BTC left to payout the USD share holders.
Deducting the $1395 for 9 shares there is a profit of close to $10,000 remaining.

There was a suggestion that the founding members of the DZ co-op will have a vote to decide as to what they will do about this.  This vote would not be by the original shareholders but by a non-disclosed group.

I propose a vote by active share holders on what we should do.
Shareholders are defined as people who have shares in R1 and there shares count as votes.
i.e you have 3 shares thats 3 votes of the total.
We have the following choices.

A) We take the refund in USD

B) We take Hashfast to court at the expense of the DZ co-op management BTC shareholders are paid in BTC USD shareholders are paid USD

C) We take hashfast to court our expense, if refunded we divide the refund as per share paid

D) We wait and hope that Hashfast delivers
 
The shareholders of R1 are

DyslexicZombei   8
Anonymous           8
jungle_dave           2
kaz911           2
milkbottlec           2
hannibal42           1
trout                   2
Hektek           1
philipma1957   1
abuelau           2
BeepBeep2           1
filharvey           1
Adamln           1
firsttimeuser   4
mazza           2
-Redacted           2

Please cast your vote so that we can put this business behind us.




 

 for me it just 1 share  while I like the idea of 1.55 btc plus 43 usd for the upgrade option.. I would take 200 usd and be done with it.

But what about R3 and R4? They are also in the same situation as we. no? This means that to take HF to court at "our expense" could actually be split with R3 and R4 if they agree.

I would love my initial BTC, but I will just vote for taking $$$$ now. I don't want any part of a lawyer or costs there.

Phil

I vote B. Though I see how those who paid in USD could be unhappy with this decision, and also
there'll be the question of what to do with the extra money shall we get a full refund.

C is also acceptable to me.

Someone ntoed in the HF thread that cashing the refund check may seriously undermine our position in court (i.e. it may be interpreted as we accepted the terms of the refund). If this is the case I'd prefer not to cash the check but wait for the result of the legal proceedings

I am not voting A. You have to be kidding. Nor D.

B or C please.
B preferred.

... just wanted to add - legal action will not be quick,
but I think it's important to let HF know that we are taking
it and are very serious about it as fast as possible. They might
offer us some settlement (like, a full refund  ::) ) while they still have some money left.

+1 for me. B or C.

  If we go to court it will take more then a year to collect.  If Dz Coop is even around to continue the legal battle It would be more money in the long run, but honestly  I would would be willing to sell my share for usd today at 100 bucks.  Waiting for this is not my cup of tea.

I get that if you have 5 or 10 shares x 1.55 btc it would be worth it.  I have only 1 share. I would rather let go and forget this.

So first to pay me the 100 usd has my  1 share. 

I feel the same as philipma1957. I'm not on for a fight, which I think will cost us all the possible money and for us to lose. I would rather just cash in now and forget this mess.

I swear I'm not joining an Group Buys again.

Phil

keep your share Phil
https://bitcointalk.org/index.php?topic=425019.0

Should we be part of this?

Good news!? HF shipping??
I'll believe it when we see it as this could be a HF scam to settle fears but this sounds like a bit of progress.
Anyone know if they are the only ones who got a unit?

As to the vote, Ill vote D for now and hope that we get the unit in hand. to everyone who is happy with screwing USD investors who did not have a choice to buy BTC locally, I truly am disappointed but not in the least bit surprised.

If they do not deliver, I vote for a cash refund that we could get as opposed to a btc refund we could wait for life never to see.

One thing is for sure, I will not invest another dime in this scam.
For the investors in R3-R4 I feel for you, I am not an investor in those groups but I think that this discussion is relevant for them as well.
 
I still wish everyone the best of luck.

Yes, this or another lawer - litigation all the way.
I think that's the only reasonable option now.
(The hope is that HF will offer us a settlement before actually going
to court)

Update: no word from HF WRT full refunds or shipping.

BTW: Background info on Paypal payments related to this. This was done as a favor to forum members, and actually cost us money per transaction because I didn't mark up the PP shares quite enough. PP also caused us co-op leaders a ton of grief: my ebay acct. is still in Limited status because they didn't like me doing an Amex chargeback on my PP BFL Jally orders that were past 45 days (this acct. is still limited because I can't be bothered by fix what they changed) and one of the other leaders *still* has $26K tied up for several more months because a co-op member did an illegal chargeback on their PP shares (they got exactly what was paid for and still got a chargeback and miner payouts. grrr). We're still bitter about all this and have refused to add PP to any of our ecommerce sites because of this and their previous anti-BTC and anti-miner stance.

WRT to refund type: Sorry, but it's a very common thing that in commerce, during a refund, you're supposed to get out what you put in: whether its seashells, roman coins, gold, or BTC, which is what we've been fighting for against HF.

==

As for the legal side: we have a plan in the works that doesn't involve CA arbitration. Our experienced trial lawyers have high confidence in the tack we're taking.

sounds reassuring.

I might pass by HI this summer - if we get a full BTC refund by then, I'll stand you a drink  of praise and commendation    8)

whats up DZ?
is there any news?
did you request refund?
are you communicating with HF?
How are you? etc. etc.

Nothing much you?
Not really
Yes, a letter was created and sent certified to them
They've ignored our request completely
I'm great if you don't include Jupiters quoting life and deleting their settings or simply disappearing from the network

Hashfast seems to be shipping to some people, some people were even contacted and asked if they want to cancel the refund check.. Not us so it seems. Strange........

https://bitcointalk.org/index.php?topic=262052.7780

Why should anyone care, I mean its just money and we are loaded right  ;D?
 But seriously, there is a chance that the box will just show up with the upgrade boards as it did for others.
According to posts Ive seen there is a PSU issue due to the higher then advertised power consumption but in our case we should be ok.

Ive been reading up on the specs so if it does show up and you have any problems with the config, just drop me a line.

Im off to the jungle this weekend to do what I do best, plant expensive trees. Its a get rich slow program but gives high returns so anyone interested in that drop me a PM..


Good luck to all and have a nice weekend.

https://bitcointalk.org/index.php?topic=262052.7960

Whats going on?

bump for info?

Let's see: since the last post in a R1-4 thread.

- Zero updates to our "Customer Support Ticket" sent in early January demanding a full BTC and USD refund for R1-4 via a paralegal, where appropriate.
- Litigation against HF was filed in Texas.
- We're meeting w/ the attorneys to go over this litigation this week.
- The January bill came in and it was ugly.
- Claims of damages seem to make sense as we all have had lost opportunity costs due to their deceptive advertising and outright fraudulent behavior (FTC regs. state that if product is delayed you *must* give the customer the opportunity for a full refund.) No promises on this but I'm firm that if damages are awarded that all would share in this (minus atty. fees) based on their percentage of ownership of that round's miners.
- Also, I can confirm that one of the D&L attorneys received an inquiry from a community rep re: legal precedents in cases like this.

That's about it...oh and a passive aggressive email from HF a little while back finally confirming payment on one of the R1-2B upgrades paid months ago with a bolded msg. at the bottom saying something to the effect of: "ALL SALES FINALS. NO REFUNDS."

That request came from me, no need to panic, just asking if there was a similar case to reference as this is cutting edge litigation.  I passed this legal question by an ex colleague of mine in corporate law. He thought that it was an interesting case to say the least.
I would have thought that there would be a basket of cases against Hashfast but this seems not to be the case.
The only reference to litigation against hashfast he could find was :

Morici v. HashFast Technologies LLC
Defendant:   Simon Barber, HashFast LLC, HashFast Technologies LLC and Eduardo deCastro
Plaintiff:   Pete Morici
 
Case Number:   5:2014cv00087
Filed:   January 7, 2014
 
Court:   California Northern District Court
Office:   San Jose Office
County:   XX US, Outside State (State of Maryland)
Presiding Judge:   Howard R. Lloyd
( Has judged against the late Steve Jobs and Apple so this might be good news  )

Full complaint as filed in the courts is available online
http://pt.scribd.com/doc/197131433/01-main-pdf

This is exactly the same case as you are proposing,  Morici requesting a full refund in BTC, damages and mandates hashfast to comply with Cal. Bus. & Prof. Code § 1723


Worth a read for sure.

Texas is not as open with there court documents as California as they have a more autonomous county court system that is based in decentralization of records (sounds like a mess but ok..). Could someone PM me as to what county this was filed in? Id really like to follow this case.

Thanks and good luck.

bump.
No news for a month.

DZ not logged in since the 27th.

I kinda wish we'd just taken the USD check at this point.

Not looking good at all.
Also been waiting for over a month to be informed about this court case filed in Texas. My independent searches turn up nothing.

Maybe someone can explain this to us?

 

I'd expect DZ, as the organizer of this GB, to post updates and report on the progress at least weekly.
Sadly it's not the case.

At this point in time we have no gear, no refund and no communication with the OP who once sounded
too often too pompous.

Unfortunately we were advised not to discuss this outside of the lawyers. R1-4's update until we post again is moving forward as planned.

OT: i know we are all fk'd by HashFk'd, but does any one know if how is DZ? he hasn't logged in for a while now.

anyway, hoping for the best for our GBs. 

Thomas,

There is an internet post of a case filed by Cypher Enterprises in tarrant county courts against Hashfast but the county record search turns out nothing. Considering this is public information and in no way private information that could risk "our" case please provide the following "public" information for shareholders.

Case number or attorney representing either side
Court (probate, CCL or JP)
County filed
Date filed

Thanks in advance

Hi guys,

Haven't run off with the money (there still is no money or BTC from our HF refund). I'd never do that. Just super bummed from all the negativity, the trolling, the bickering, manufacturers failing us over and over, and me working 7 days a week for months doing this as a second job for peanuts (actually negative not-so peanuts). I just got so sick of it esp. since I was working for less than free and couldn't take it any more.

This was an experiment in democracy in mining and trying to deal with the inevitable network difficulty rise but I/we've surrendered the pre-order GB market when we used to offer many of the best pre-order deals around because most of these manufacturers can't meet their deadlines. Others can deal with high risk pre-orders but I'm done with pre-orders from ASIC mfgs.

I've been exploring other job options while trying to cram for a particular Microsoft cert for a job I'm trying to get. I've cut back my forum presence but I'm still looking at opportunities in the cryptoeconomy.

WRT case news: these things take time but the Texas court granted a TRO against HF for about 218 BTC so regardless of how the case turns out they've been ordered to hold onto BTC of this amount till the end of the case.

BTW, from the email leak thread going on over email: even people that have asked for USD refunds from HF have had to wait for over a month in some cases.

http://imgur.com/a/OLbc8#0

Good news. Thank you!

Good luck with the new job and things, but you took on responsibility of the group buy, tried to build up a business with group buys, so you still have to manage and cope with all the trolling, bad comments. If you took on the management of group buys, you knew from the past that hardware developers were flakey to say the best.

You also knew what the bitcoin community were like if something was not delivered.

Also no where on the first group buy which I was a part of was this to be a community group buy, you were in charge.

So sorry, things did not turn out for a massive profit you hoped for, but you still owe us time to figure out the mess.

Also on this just to make my view clear, I just want my $$$ value back.

Another thing is that there was no proper vote on action, people just commented, and how many were investors or buyers. Where was a proper audited vote of investors???

At the end of the day you FAILED in trying to set up a business, FAILED to provide your customers with regular information.



Phil

Yes this is the reason why you have a cooperative and have other people run it when you need to take a break. While he was "MIA" this happened http://imgur.com/a/OLbc8#0

http://hashfast.com/tro-response-from-hashfast/

An official response from our attorney:

"Redacted"

Basically: that was spin and mayhaps some desperation from HF to not have a precedent set. We are asking for damages as is normal in cases like this.

==

Also: I want to publicly apologize for going MIA. I'm very sorry if you were caught in the crossfire. I owe you guys a longer explanation.

What you guys may not have known is that one persistent stalker troll w/ a so-called "Hero" membership IIRC managed to drag *my kids* into our ongoing Internet argument in an argument spanning weeks and even multiple threads. My last communication to him was weeks ago after he crossed a line in a Scam Accusation thread. I'm not comfortable engaging in a community - where a stalker/troll (without proof, no less) can engage in behavior that would get you punched in the face IRL - and can get away with it behind the anonymity of the internet.

I was disgusted by this behavior, that a veteran Bitcoin miner/investor would stoop to such levels in an attempt to attempt to besmirch my reputation and the co-op's integrity, while cowardly hiding behind his anonymity...while trying his very, very best to find out my real life name/ID. This, while showing no hesitation at trying to turn a harmless statement made about my daughter playing as a noob PC gamer as a 3 year old on Halo PC into something that somehow brought into question my long history of sales...yes, fucking Creepy Behavior with a capital C & B. This member has a record of digging deep to try to find dirt, oftentimes where there's no smoke, nor fire.

Perhaps, if you're a father, you would understand my disgust and aversion with anything having to do with this place after that. I couldn't even *think* of logging in I was so disgusted and angry. I'm sorry, if your PM is in the big backlog that's in there.

In the course of sales, I'm used to defending the co-op's integrity against all comers, but when this stalker/troll brought my kids into it, he crossed that line: this is something that as a Parent, awakens something Primal and angry within me. (FWIW: You must really, really suck at arguing if you have to bring a stranger's kid into your meaningless Internet argument)

I would do anything for my kids, and like the average parent, sacrifice a lot for my kids. I recognize that most people are regular, nice people, but the forum doesn't have a method to really punish a stalker troll that would do something so execrable and I do acknowledge the fact that there are sociopaths and psychopaths that revel in destruction (and some of them may be stalker/trolls). This was the final straw for me.

Why should I pay for abuse when I'm not a masochist? Why should I put my kids at risk if there's even a remote chance - if not this stalker/troll then another one, could find me and actually come to my house unannounced and possibly unhinged (even if they never even bought anything from me/us)?

Our time here is limited. Be nice to one another. Be less quick to throw unfounded accusations. This is *still* the *only* mining co-op that has raised hundreds of dollars of funds on behalf of others, and I'm proud of how co-op members have been quick to help one another.

So again: sorry, but please refer questions to Thomas for now. Perhaps one day I'll open up another GB here but I'm pretty much scarred and sickened by the whole matter, and a still a bit pissed off. Life is just way too short to have to engage in eternal Internet Flame Wars with the possibly unhinged on one side, and nearly every ASIC manufacturers on the other side, failing to meet yet another deadline.

For now, at this point in time: I'm taking a long hiatus from future GBs but will be closing out these GBs along with Thomas, -Redacted-, and bobsag3. Perhaps, I'll return to sales or even escrow here one day, but for now, as a human, and a father, I'm still working through some things.

you guys did a good job its the asic companies that dropped the ball completely . The first time i ever bought bit coins was to buy in for round 10 and i thought it was great. then you guys were trying to get the btc bank machines and luckily that made me go buy another bunch of btc.( to bad that didn't work out but the legality would have been tough).

did you guys get a written statement from John K that he provided the escrow for R1?
I suppose this may be necessary in the court at some point.

Thanks Kc, I'm sure it hasn't been fun for the ASIC manufacturers either.

Yes, we had to pull the plug on that ATM one. Was a great way of approaching it but we would have run into some murky, murky waters esp. without the JOBS Act Crowdfunding rules still not in place. Perhaps this could be revisited once these rules are in place.

There are those that have made it or are making it thru the hurdle for operating Bitcoin ATMs by one person/company, but the offering of it in that manner would've buried us in legal fees for licenses to the point of not making it worthwhile unless you could deploy hundreds of ATMs.

Update on the case: Today was supposed to be the day of the hearing. It appears to be delayed until next week. 

I won't comment on that to not give out too much info, but I and the attorneys think that the important fact is that all of the buyers on record have all assigned rights properly.

Proof of this set of escrow related transactions can be produced, if necessary. Geez, I still have 1.14 AM shares in limbo he's holding to insure the first sets of R1 payouts. These shares were supposed to be released back to me after a month of R1 payouts per the terms of our deal. He's been getting dividends on them since August '13. Ouch. :-[

coins are down to 400.

  I think they were 100 when I bought.  I wonder if coins dropped to 180 or 200 if they will just settle.

don't know if it's good or bad news..
http://ia902509.us.archive.org/13/items/gov.uscourts.canb.522575/gov.uscourts.canb.522575.1.0.pdf

https://business-bankruptcies.com/cases/hashfast-technologies-llc

Found this on coindesk


http://www.coindesk.com/hashfast-cuts-50-of-staff-denies-bankruptcy-rumors/

interesting read

one day maybe we will see something from this.

where are we with respect to this?

Didn't see this one coming,
From what I found about the case.......

Filed: 5/14/2014, Entered: None    Court Filing
   ORDER: The court ORDERS that the above-captioned action be, by way of automatic reference, transferred to the bankruptcy court of the Fort Worth Division of this court for consideration and resolution consistent with law. (Copy of case file placed in bankruptcy court's distribution box and txnb_appeals@txnb.uscourts.gov electronically noticed.) (Ordered by Judge John McBryde on 5/14/2014) (mdf) (Entered: 05/14/2014)

This was the last entry (17 of 17)
There were several previous attempts by Hashfast to get the case dismissed, this seems to have failed.


What would be nice to know as a shareholder is:
If the TRO filed still stands
Whats the status of the funds required to be held by hashfast (BTC/USD)
what the prevision is for a bankruptcy restitution hearing in Texas.

Please do not reply with a 500 word essay on how hard life is, what a bunch of assholes we are and 50 other unrelated stories. We all lost money, we are all in the same boat, everyone is upset so the minimum you guys can do is give us the facts..

I'm not going to update a thread if I don't have any news. The latest is the Notice of Chapter 11 Bankruptcy Case, Meeting of Creditors, & Deadlines letter from the US Bankruptcy Court was just received. We dropped the TRO to proceed in CA.

We're going to be an official creditor in this case. Your guess is as good as mine as to what we're going to get out of this. We may be lucky to see 50 cents on the dollar let alone a full BTC refund if the situation's as bad as it looks.

I ain't gonna give some SOB story but I've spent $5k+ in legal fees so far I really didn't want to use as throwing more money at a bad deal, even though my portion is something like 10% and no one offered to donate a satoshi for the legal defense AFAIK.

bump. Anybody follows up on this? Any news? Any chances getting anything back at all?

https://bitcointalk.org/index.php?action=profile;u=140437

well, I did notice that DZ was last online about a year ago, if that's what you are trying say,

I followed this story with hashfast, as far as I can see, nobody got anything back except of course the lawyers.
Looks like most of the other GB's crashed and burned too..