The answer is if you buy Baby Jet for 51 BitCoins today and it does not ship, you will be refunded the 51 BitCoins you paid.
There is no way you can construe that to mean USD-equivalent. None. That is 100% clear. Full BTC refund. That's merely a post on an internet forum, not binding "actual wording" from the relevant TOS. Again you're wrong. It was an official email from an official HashFast representative to a customer. Full BTC refunds were promised by official HF representatives. You continue to lie that they weren't. |
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The only reasonable interpretation is that the "refund in BTC" clause always meant "USD purchase price equivalent in BTC." Ask any attorney with even a vague notion of contract law.
You have a very active imagination. Let's look at the actual wording. The answer is if you buy Baby Jet for 51 BitCoins today and it does not ship, you will be refunded the 51 BitCoins you paid.
There is no way you can construe that to mean USD-equivalent. None. That is 100% clear. Full BTC refund. |
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Bankruptcy is one course of action, recapitalization is another. The latter is preferable, unless you want to ensure the lawyers get everything.
Recapitalization would require people to trust HF. Nobody trusts them, thus creditors take matters into their own hands. |
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Our wishful thinking aside, it's a matter of possible vs impossible. They simply didn't have the money to pay out tenfold windfalls after spending millions to build chips/boards/systems.
What do you call it when a company can't meet its obligations? We call that "bankruptcy"! When that happens, lawyers get involved. Shocker! |
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The offer for refunds was made at the end of a long period of ~$100 price stability. The spike to $1000+ was unexpected and unfortunately timed for those of us who had just used BTC to purchase ASIC pre-orders. Sorry you didn't get the 'windfalls are not legally actionable claims' memo months ago, like the rest of us (who wish they were not).
This isn't some politician promising to end poverty and failing to accomplish that promise. This was a crucial term of sale. HF had no right to break that term of sale simply because it was "inconvenient" for them. |
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Even if they agreed with you, where was HF supposed to get the money to pay out 10x their orders, after spending millions to build an amazing chip and some less than amazing boards? It was a start-up, not IBM.
So the offer for refunds was a lie from the start. Thanks for admitting they were a scam from the start. |
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SP20: 1.7 TH/s, 2.5 BTC, ships late Oct, shipping cost not included.
S3: 1.8 TH/s (4x450), 2.3 BTC, ships late Sep, world-wide shipping cost included.
The S3 will mine nearly 1 BTC before the SP20 even ships. That puts the net price like this:
SP20: 2.5 BTC+shipping
S3: 1.3 BTC
The SP20 is twice as expensive!
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That's just, like, your opinion man.
In reality, the bankruptcy filing (1) stopped the chips-for-MPP and chips-for-backorders processes dead in their tracks, (2) stopped HF's negotiations with potential sources of recapitalization, and (3) guarantees most of what is recovered will go to lawyers.
Fact: Hashfast promised BTC refunds. Fact: Hashfast refused to honor BTC refund requests. Fact: Hashfast cannot be trusted. The correct course of action is to involve the lawyers. |
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How do you know?
Maybe he accepted the "spring-upgrade" and therefore wasn't eligible for a refund anymore...
Everyone was offered full refunds when the actual shipping began. Even people with all sorts of upgrades. It's the one thing BFL actually did right. |
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Company risk is certainly one we customers must take into account and possibly bear. You'd think buying ASIC pre-orders from start-ups was no different than ordering a Hello Kitty toaster from Amazon, given many of the Shock, horror! reactions posted in the Hardware sub.  Sorry for your loss; IIRC you warned us months ago that the litigious scorched earth approach would benefit nobody except lawyers. Too bad cedivad and the other lawyer-pimps didn't listen, and our chances of recovery are now much lower as a result.  See, you keep getting it backwards. HashFast imploded long before the lawyers showed up. Without the lawyers, no one would be getting anything. With the lawyers, there's a small chance of getting something back. |
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How can you ask such stupid questions? Have you no brain? Do you feel good that the only ones that are going to make money now are the lawyers?
That is 100% HashFast's fault, and your fault for pimping HashFast so much. |
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merci pour ces précisions xtoff  i just received PM from someone with a BTC adress (of course!), the name of this member is btcqarden-minerHi,
Thank you for you interest in our AMV1 miners and appologies for the difficulties you are experiencing on our website.
Current price for the AMV1 miner is 0.814BTC
Shipping to France is 0.13BTC
Total per unit is 0.944BTC
If you wish to place an order the payment address is :
1CpaBH8yHZZKA6cRmAGWDA4jCH5PZaUHRe
After payment please message me the transaction I.D, your shipping address and number of units ordered. Scam for sure. PMs like that are always scams. |
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He bought 25 of 'em ? Poor guy, I feel sorry for him, he'll never make out the investment for the cards :-(
Don't feel sorry for him. He could have gotten a full refund. He was an idiot to not chose the refund option. |
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Hi Gang,
Have I got some goodies for you.
1. The SP20 is out! Yes, that's right, we got a price, we got a shipping date, and we also have a prototype in hand:
$1200 (>2.5 btc) without PSU due end of Oct. Disappointing price&date.  |
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... so I would like to manage my expectations..
I bought 4 baby jets... 210btc.
requested refund on Jan1.
I think the usd value was about 22k.
what should I expect to get.. if anything? 20%? 10? anyone?
After following this thread all this time I would guess you are sure to get something, hard to guess the percentages, but 10% is maybe a bit optimistic. I would bet 20% is unreachable. only ones that are going to make money now are the lawyers.
How can you show your face in here? Have you no shame? Do you feel good that jjiimm_64 got scammed for 210 btc? |
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Even if they do tape-out, there's no way they can actually build a miner that works. They can't even build a 28nm miner that works. 14nm will be 10 times harder to build.
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im going to las vegas for that Bitcoin conference. I hope your fat ass is there.
I don't think we're going to see him in the States ever again. |
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Since some X1s and X3s have been delivered, by both BA and MinerSource, where is the corresponding source code to the binaries that have been delivered?
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[6/5/2014 7:40:21 PM] Joshua: in general - the conversation ended with me ripping up a 1 dollar bill into 16ths and placing it on the table demonstrating how psychological the world is not ready for a fractioned coin, they want to have 1 or a whole something especially something that doesnt exist anyway
http://www.law.cornell.edu/uscode/text/18/333Whoever mutilates, cuts, defaces, disfigures, or perforates, or unites or cements together, or does any other thing to any bank bill, draft, note, or other evidence of debt issued by any national banking association, or Federal Reserve bank, or the Federal Reserve System, with intent to render such bank bill, draft, note, or other evidence of debt unfit to be reissued, shall be fined under this title or imprisoned not more than six months, or both.
Fine Josh and put him away for six months. Sounds like a fine plan to me. Did you know that I can divide dollar bills without destroying them? Watch this...  Bam! One dollar bill into 4 pieces! For my next trick, I'll break a one dollar bill into 10 pieces! |
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Thanks I will investigate. For the record AMT have confirmed they have the source code and sent me tarball which I have not yet investigated, but they also say they will post a git tree with their source, so it appears my gripe there is over.
How about that source tree? The customers that received the miners deserve a copy of the source code too. |
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