Bitcoin Forum

Okay so HF seems to have a new CFO and admitted they are screwed up .  My problem is that I do not see a refund coming anytime in the next 6 months or longer if they remain in business. So any way since they are trying to get their crap together I was thinking instead of suing them I would take the upgrade to a Yoli 800gh/s board . My question is , Do you think this board would be worth having since it will never ROI as far as bitcoin is concerned ?
 I was thinking maybe it would be a good investment for mining other coins with and holding on to until they go up in value . Any coins that are worth mining on this  other than bitcoin ?

 Thought I might have a better chance of a board than a refund since they have mass amounts of chips on hand .

The recent article about HashFast highlighted how broke they are "due to refunds", and that they are (like you said) sitting on a big pile of chips.
I would take the board ASAP, since you don't want to get tied up in waiting for (a possible) bankruptcy to go through the courts.

ps. This topic probably belongs in 'Mining' or 'Service/business Discussion'...?

Yes I was not sure where to post it so I put it here . Figured a moderator would come along and move it if there was a better spot .

yep I was thinking about that board . I checked and it will not ROI for 6 months at the current rate . But if there is another coin that could be mined with it that looks promising I would try it . I was actually wanting the refund so I could build a good scrypt miner  but I think refund is a long shot .
Even the board may not be an option . They have a lot of chips not boards . The big guys would get them first and then the batch 2 , 3 and on to me in middle of 4 . may not be any left by then . They may offer chips but then what would I do with them .
oh well jsut thinking on a way to avoid suing them . that is a real hassle .

your screwed either way. if its 6 months ROI now. and a big jump of difficulty every 2 weeks, with a large jump of hash power with it. by th time they get to your batch 4 it would have been a couple months and your ROI is then well over a year.

that is why i was thinking of other coins to mine with it . Must be some that look promising . Maybe a few bitcoins to help pay for it . Or get a refund and buy from that company they are hooking up with , the ghost company . Sounds like it would be the same chance as getting product from HF . They do not exist but their products are selling at a cheap price ! Better pre order now before the rush gets in .  :D

Just some HF news on bankruptcy . At least it is not liquidation and could come out to be a good thing  . bankruptcy judge allows them to sell off 1000 chips and other stuff at market price to raise funds  http://arstechnica.com/tech-policy/2014/05/bitcoin-miner-startup-hashfast-strikes-deal-with-creditors-for-now/

Goal should be minimize your loss.

50% loss is better than 100% loss.

you got that right . I am still hoping to come out of this with no loss . If I knew more about how to setup and run a miner I would just take their upgrade as that would probably be faster but I feel i would be at a loss to figure it all out .
 Hopefully they do not loose too much and can pay back all that is owed .

The land of bitcoin has so many land mines....HashFast was one of them.

maybe they will get the problems fixed and get back to making chips . The only problem I see after that is they partnered with a company to build systems that does not exist . 3 guys with no company that can be found and they use South Park pics in place of their own photos . This sounds very fishy .