"I NEED Asic Resistance!!!!!" You're such a tool no offense tacotime.
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Everyone close to the project is still active. If new ideas that seem useful come to the forefront, they will be added. There are some potential devs that we are actively talking to. It's hard to find people seriously dedicated to putting in all the effort required.
Alt coins are not comfortable to SHA256 mining.
Anything we can do to help? Post hiring posters or anything? I would love to capitalize on the China interest. Maybe if there is a infographic that outlines the requirements and salary options we can spread that and get some more leads for you. Lots of interested people following this project. Would love to use this resource instead of having then idly wait. Nah, I wouldn't worry too much. We think we have some pretty good developers lined up at the moment, and I'm working on a powerpoint presentation right now. Looking forward to seeing the presentation, will it be posted here? Yes. Sorry, I've been sick since sunday and trying to keep up with this new stuff for hashfast |
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(...)
Although it was a bad call in retrospect, I considered buying BTC instead of making a Batch 1 order, back at then end of August. I would have made quite a bit of money by now.
(...)
buying btc was always more profitable afaik who stopped you from buying new BTC at the time you used yours for the pre-order ? regarding the MPP, what I do not understand: why one has to convert his fiat into btc first in order to be able to take advantage of the MPP ? was it mentioned in any way before ? I think the issue is that Taco didn't quite correctly restate what HF said. Not a big deal since the actual quote from HF is okay, as is the description of the MPP on HF's website. On your point btc_usr, I didn't have BTC to pay for my order, so I did not pay in BTC. Even if I had the BTC, I doubt I would have used them to pay. I had USD and I paid in USD by bank wire. No conversion took place. Except that for the purposes of the MPP, my USD are counted as BTC at the MtGox exchange rate offered by HF to customers paying in BTC on that day. In other words, the same as everybody else paying that day. So, in effect, buying the HF hardware let me make an investment of USD linked to the value of BTC without the rigamarole and fees associated with first buying BTC then transferring them to HF. (And I know some won't like me saying this, but I like the potential protections (especially to a US customer) of paying in USD versus BTC.) But, like everybody who paid in BTC, I'm screwed if the MPP fails. I'm pretty sure this is the case now, yeah, I'm just waiting back to hear from them officially. Sorry, it was my misinterpretation. |
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Although it was a bad call in retrospect, I considered buying BTC instead of making a Batch 1 order, back at then end of August. I would have made quite a bit of money by now.
Do any of you trade in stocks? It is completely different if you bought BTC instead in August since you probably would of sold them in Sept on a small increase, then sat on the sidelines saying ...'I should not of sold my bitcoins so early, I would have made quite a bit of money by now' It's a lot easier when someone else holds your money hostage and then comment on what you 'would have done' which of course would be to perfectly play the market More or less this... If you bought Bitcoin at peak at $30 in 2011 and then watched it crawl to $2 and sold in a panic, you would have made a -93% ROI. The reason I invested in mining hardware since 2010 was because no matter what direction the Bitcoin (or Litecoin) market went, I still always made money. |
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- MPP program is based entirely on BTC return if you paid in BTC, and fiat return if you paid in fiat.
I think the MPP is based entirely on BTC period. According to MPP terms on https://hashfast.com/miner-protection-program/If I didn’t pay in Bitcoin, how do you calculate the purchase price under the MPP and compare it to the amount Bitcoin generated?
If you paid in USD or other fiat currency, HashFast will base the calculations on the BTC to USD (or other currency) exchange rate we gave our customers the day of your purchase.
tacotime please get a clarification because you may have just kicked over a hornets nest and if it is simply a miscommunication it might be a good idea to post a retraction. Hey, It may have been a miscommunication; this is what they said: If you paid in USD or other fiat currency, HashFast will base the calculations on the BTC to USD (or other currency) exchange rate we gave our customers the day of your purchase. I'll double check, it may indeed be the case that everything is in BTC regardless of the way in which you paid for it. |
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Update from hashfast; - HashFast claims that they are at fault for the delay in the application to substrate and no other company.
- MPP program is based entirely on BTC return if you paid in BTC, and fiat return if you paid in fiat. Three factors determine the ROI as given by the MPP: Device hash rate, network difficulty, and the estimated network hashrate. Individual operation uptime/downtime does not play a role in the calculation.
- HashFast states that it's their fault that pictures have not been available yet (because of the NDAs they signed with other companies that preclude their publishing) and that the NDAs themselves are not allowed to be published according to the other manufacturers. HashFast will be working in the near future to provide some kind of undeniable evidence of a functional product.
- Batch 1 will be shipped before Dec 31st, and HF anticipates that batch 2 will also be shipped before this time but cannot guarantee this claim given the current delay they have experienced.
- Throughput at the assembly facility will be over 1000 machines per day, and these machines will be sent directly from the assembly house to the customer.
- The case for refunds for customers who purchased miners before August 15th is being reviewed.
If you guys haven't seen already, My hashfast contact and I have been working on the cgminer driver for a while for this protocol, and fortunately since they contacted me early, their final protocol is quite different to what they originally had in mind. I'm very pleased with the design overall, and the cgminer driver for it we've been working on will be pushed to a public repository tomorrow.
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I've sent the company rep a battery of questions, I'll let you know when I get a response although I am sick and I do have to work today too.
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^^ All my ASICs have been mining PPC.. by the end of the year I should bring a couple TH/s to that network.
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How are you going to get a refund anyway since they only took bitcoins and wire transfers?
They have no incentive to ship early.. you best find out if Ciara is shipping direct to customers or back to them.. if back to them, then they will mine until last week of Dec
You can ask for MPP in April
Ciara is shipping direct to customers But this isn’t just about power. We’ll be shipping our Baby Jets directly from CIARA’s massive 576,000 sq. ft. headquarters in Montreal. There are few manufacturers in the world that have the incredible capacity to build and ship mining rigs with the speed CIARA does. What’s more, CIARA is a C-TPAT registered company, which means no delays at US or Canadian customs. This means I should be one of the first people to get one, when it's shipped. |
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Can you get detailed clarification on the pcb photo question? Either something is missing or something was lost in communication because that doesn't make much sense. TSMC is the foundry they make wafers nothing more. CIARA is an assembly and distribution company they wouldn't own the right to any PCB or prevent photos from being taken.
I am not saying you are wrong just that #4 as stated doesn't make any sense.
Their exact words: We are working on getting more pictures approved by all involved parties to release images. However, we realize the concerns and will do a better job of providing more pics in the days to come. So, I really don't know where the barrier is, but I'll ask. |
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also tl;dr, they have a pile of my money too at this point, so I'm trying to figure out what I can.
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congrats on getting the job,
So you haven't answered anything we didn't already know. unless your saying batch 1 baby jets will ship with the MPP. They're saying it'll ship within 90 days of the ship date of the hardware, and the quantity of hardware you get is dependent on the network hash rate at the time of shipping up to 400% of your original order |
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Also, you are now publicly stating that the end of this year was always the promised shipping date while that date wasn't even present for the first half of batch 1 customers.
How can one even...? Why am i losing this time arguing with walls in a forum?
They told me this: - This is the explicit provision given in the order confirmation:
"All of the 550 Baby Jet units from HashFast's first production batch are guaranteed for delivery by
December 31, 2013. If Buyer ordered one or more units of such Baby Jets, and HashFast does not deliver such units by that date,
then Buyer may cancel the undelivered portion of the order at Buyer's request and HashFast will refund the payment for the units
that Buyer purchased but did not receive and cancelled. This cancellation and refund is Buyer's sole and exclusive remedy for
HashFast failing to deliver by the December 31, 2013 guaranteed delivery date, and Buyer must cancel the order by January 15, 2014 to avail itself of this remedy. Buyer to pay all taxes, duties and shipping costs." I didn't save my order confirmation page, so I have no idea if it was there or not, but that's what they're telling me. If someone has a saved copy, please post it and I'll ask them about it. |
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1. On prices for the first batch: First batch comes with MPP and will be received before all the second batch is, so the first batch is expected to make greater returns in BTC than the second batch products with both the original item and the MPP (their MPP will ship first, too). Everyone agrees with me that this is nonsense, right? Because we measure % return, not absolute return over hashrate, right? I agree that the MPP is at least a little vague in terms of how they decide to give you up to 400% of the hash rate that you ordered (e.g., how they forecast what you'll mine in BTC, and how much hardware you need to break even). I'll ask them. They did state the quantity you get in hash rate is dependent on the network hash rate at the time the product shipped, so if it's shipped after Nov 1st, you get proportionally more hash rate (up to 400%). 2. TSMC: Everything is on schedule. Everything else is under NDA. Ask specific questions and I'll see if I can get them answered, given that they don't violate the NDA. Can you show us the NDA? Anyway how can everything be on schedule since that you are late with the chips that are being manufactured at TSMC? I can ask them. They said "everything is on time with regards to what we are telling the customers," and I assume they are referring to the news about the substrate delay. 3. Hashfast states that Dec 31 was always the agreed to date in the terms of sale, and that this will be honoured. The shipping date was at the end of this month, but yes, let's change the reality to our needs. That date will be honoured? What about every date that was promised until now? Like, will the mid november date be honoured? No, right? When will you start to prepare us for that? They say they'll issue refunds at that time (January 1st, 2014) if they fail to deliver a product. That was it, and I won't make assumptions beyond that. If this falls through, I'm down $5k USD as well, so I'm in the same boat as you. 4. Pictures are forthcoming and apparently need to be approved by CIARA and/or TSMC and/or whoever else is involved, and this is the reason there aren't many yet. How is exactly CIARA or TSMC involved with the PCB? What a great idea to hide behind the fact that you never had a PCB ready for the end of this month.They didn't name names, but I assumed they were responsible (mea culpa if they're unrelated). I can ask if they have the PCB designed and what stage it's in. |
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Crossposting this; Okay, HashFast has gotten back to me. They are telling me that they are paying me with discounts on hardware for providing customer support, and they've ask me to forward some official responses to issues that have been coming up. I'm pretty sick with a cold, but I'll do my best.
I've changed my profile information so that everyone knows what my role is with the company.
1. On prices for the first batch: First batch comes with MPP and will be received before all the second batch is, so the first batch is expected to make greater returns in BTC than the second batch products with both the original item and the MPP (their MPP will ship first, too).
2. TSMC: Everything is on schedule. Everything else is under NDA. Ask specific questions and I'll see if I can get them answered, given that they don't violate the NDA.
3. Hashfast states that Dec 31 was always the agreed to date in the terms of sale, and that this will be honoured.
4. Pictures are forthcoming and apparently need to be approved by CIARA and/or TSMC and/or whoever else is involved, and this is the reason there aren't many yet.
You give me questions, I give them questions and try to be the go-between and get your answers. |
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Okay, HashFast has gotten back to me. They are telling me that they are paying me with discounts on hardware for providing customer support, and they've ask me to forward some official responses to issues that have been coming up. I'm pretty sick with a cold, but I'll do my best.
I've changed my profile information so that everyone knows what my role is with the company.
1. On prices for the first batch: First batch comes with MPP and will be received before all the second batch is, so the first batch is expected to make greater returns in BTC than the second batch products with both the original item and the MPP (their MPP will ship first, too).
2. TSMC: Everything is on schedule. Everything else is under NDA. Ask specific questions and I'll see if I can get them answered, given that they don't violate the NDA.
3. Hashfast states that Dec 31 was always the agreed to date in the terms of sale, and that this will be honoured.
4. Pictures are forthcoming and apparently need to be approved by CIARA and/or TSMC and/or whoever else is involved, and this is the reason there aren't many yet.
You give me questions, I give them questions and try to be the go-between and get your answers.
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Everyone close to the project is still active. If new ideas that seem useful come to the forefront, they will be added. There are some potential devs that we are actively talking to. It's hard to find people seriously dedicated to putting in all the effort required.
Alt coins are not comfortable to SHA256 mining.
Anything we can do to help? Post hiring posters or anything? I would love to capitalize on the China interest. Maybe if there is a infographic that outlines the requirements and salary options we can spread that and get some more leads for you. Lots of interested people following this project. Would love to use this resource instead of having then idly wait. Nah, I wouldn't worry too much. We think we have some pretty good developers lined up at the moment, and I'm working on a powerpoint presentation right now. |
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Silver as a commodity currency came about because it is impractical to make (with 1800s era technology) small gold coins. 1 gram of gold was roughly a day's wage in 1840. Imagine there was no silver or copper based currency. So you work a day and your employer gives you a gram coin. Now what. Your hungry and want a meal it will cost 1/20th of a gram of gold. Does anyone make 1/20th of gram gold coins? Are you going to break out your magnifying glass and knife to cut your 1 gram coin into 20 pieces.
Bitcoin isn't gold, Bitcoin doesn't suffer from the limitation of physical size. It is just as easy to spend 1/20th of a BTC as it is 1 BTC unlike spending 1 gram of gold or 1/20th a gram of gold.
It might become a pretty ideal option when bitcoin network fees become high, as eventually the miners control network fees and there are a limited number of transactions that can go through the network each day. If the number of network transactions increases exponentially, eventually fees will be exorbinant. Everyone knows that bitcoin can not support even a fraction of the transactions that visa processes per day. |
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Looking forward to my order shipping this week!!  |
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Litecoin isn't a "scam" and the fact that (an unknown) someone claims it so doesn't have any relevance on Bitcoin.
Litecoin simply lacks innovation and has no purpose. It is too much a copy of Bitcoin to every grow to anything rivaling its big brother.
It has no purpose aside from being internet money, which is exactly the same purpose as bitcoin has. Litecoin has value because me and a lot of other people have them and are not spending them, and they are difficult to generate. I also trusted litecoin and have been keeping since many months ago. But the price keep dropping make me feel really bad... It will likely be the same as for people who bought Bitcoin at $20 each in 2011. Ignore the market and hold, as the market is based on speculation while the contraction of LTC supply is based on mathematics. |
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