Keep in mind, ZH is a financial NEWS site. Btc is not news anymore. Even the events that get us bitcoiners all excited isn't news worthy to the plebes. It's still very much a niche thing. There needs to be verifiable facts behind the news. Most of what gets published in the btc-centric news outlets is conjecture, opinion, or rumours. This won't fly with a traditional hard news agency.
That said, I'm guessing someone at ZH is strongly anti-btc because you would think with their left of centre stance and generally libertarian views that they would promote the btc like crazy.
Pretty sure that Tyler Durden is a creation of Peter Schiff's marketing department. They let it slip in some of the earlier articles by the references and knowledge exhibited. The whole tenor and missive of Zerohedge fits Schiffs also. |
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Greek talks have totally broken down and insiders are trading the only market that's open .... cryptos.
Chinese financial markets are going to be partially frozen over the next weeks, others will also be affected. This is shaping up to 1929 with the selling waves beginning early in the summer and building right through until october ... i.e. black tuesday
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big guns warming up ... stress test successful.
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Seriously, the idiocy about Frap.doc's coins has become at least as bad as Frap.doc's idiocy about 1MB blocks.  Idiots beget idiocy I guess, seems to be following this frap.doc around. What idiot could think he could take 3000BTC from a failed mining venture (with undelivered hardware) and not expect to be targeted by the creditors? "Follow the money" has lead directly to cypherdoc in this case. I would have nothing to do with the guy, quite frankly he's toxic to the forum. |
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China what are you doing? Buy bitcoin. This stock market thing clearly isnt working for you.
China is banning stock market now. |
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Does anyone have information about how much actual mining by customers was done by HashFast gear? (If any.)
And were they running the old 'factory test' mining before shipping to customers boondoggle?
HF shipped all Batch 1 and 2 customers' machines. Unlike Cointerra's (also late-shipping) machines, HF's ran at the advertised 400GH/s spec. Plenty of mining was done by their gear. Icedrill is still mining with HF ASICs. Early equipment (including firmware) was not sufficiently tested and had stability issues. Later production, subjected to rigorous QA, was much more reliable. The ridiculous 'secret mining' canard was brought up by cedivad, only to be promptly debunked. I'm surprised and disappointed someone of your caliber would, without even being aware of these basic facts, rehash old gossip and leap to defamatory conclusions which have been soundly rejected in court. As for the case of Greedy Lawyers vs cypherdoc, Judge Montali is highly skeptical of their flimsy claims and literally mocked/laughed at them on several occasions. I know you're pissed off at cypherdoc for being an annoying Gavin fanboy lately, but these unfounded rumors are not the best cudgel with which to bash him. Sounds like you are mixed up in it too somehow. And it is all news to me, looks like the court action is current so not so much 'rehash old gossip' as a necessary catharsis. I'm keeping the investigation to the tabled facts so not sure what 'defamatory conclusions' you refer to. Going on the public court documents it is quite damning for cypherdoc the payments made for "endorsements" and that there was hardware that was never delivered to forum members I'm assuming. Which is the height of hypocrisy given his crazed defamatory "conflict of interest" LeBronning of core devs and personal slurs towards me. People in glasshouses shouldn't throw stones. Any cudgel bashing is of his own making, he had fair warning I don't put up with that nonsense. |
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sell. you won't get a better price. we will continue with strategic dumps, ddos and propaganda to avoid adoption. the fiat system needs to be protected. give up.
you and who's trailer army? |
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What happens if Greek banks don't reopen tomorrow? I'm giving them only a 15% chance of opening.
Those banks can't handle even one full day of withdrawals. depositor's haircuts?
What happens after banks are closed for two weeks? Civil unrest? riots?
"OXI" on the referendum is not the end of the story. It's just getting started.
they have an ingenious idea how to fix the 'interest to infinity' debt slavery system that is broken atm .. they are going to print up some more euros and extend an emergency loan to greece but they have to promise to pay it back this time for real.. scouts honor. and then they plan to release a new fiat reserve currency which will be superior to all the rest since this new fiat reserve currency will not have cash. that will stop the bank runs once and for all. they don't need a blockchain. that would hamper their ability to steal (corruption) and to add more 1's and 0's to make more money on the fly. -5% interest rate to keep your money in the bank (like u got a choice in a cashless system). they can stretch that 'interest to infinity' debt slavery system out for at least another ten years.Very astute. The money doesn't matter. The amount they owe it's flexible... they can negotiate. What is most important is that they continue to owe, and they continue to pay. It's not about dollars, or Euro, or Drachma. It's about power and control. It always is. just like mafia ... it's all about the juice. Don't let them get anything on ya, debt or otherwise and you'll stand a fighting chance. It's why land/property taxes are so disgustingly immoral, there is no way to be independent and opt out. |
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this is very very very illuminating for all who got burned by activemining. that whole scam revolved around all sorts of "top-secret, NDA protected" dealings with hashfast that ultimately left the Activemining shareholders holding the bag and ken slaughter shrugging his shoulders and going "derp"
if one of these retards put half the energy into something aboveboard as they do into these elaborate scams, BTC would be the main world wide currency instead of this sketchy looking tool for hackers and thieves that it resembles today.
yeah, as a community we should do everything we can to eliminate these scumbags. A good place to start is the "securities" section... the front page has at least 3 new obvious scams every day. it is every white hat's duty to go there and poke holes in these shams, call them out, expose them and protect the innocent naive users who might be fooled and in turn be robbed and ultimately alienated from the BTC economy overall.
this garbage VERY bad for BTC
Hmmm, what was Activemining? And how were they related to the HashFast scandal? |
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The real cypherdoc: http://gsm.ucdavis.edu/faculty/marc-loweHas anyone notified his employer about these allegations? Ah, the hilarity of it all. So that was the "highly successful business" he was running. In all seriousness, I'm sorry people lost money to this chicanery. If that's the real cypherdoc then he was trying to frame some poor ophthalmology with the same name because he has specifically said that people trust him to operate on their eyes. The judge refers to him as an Ophthalmologist and a Doctor in court. fwiw. So he's an opthalmologist, a silicon valley VC shark, MBA lecturer and an NBL-level super-star bitcoin mining shiller? Is there nothing this guy can't do? |
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The audio recording in the response is halarious, Cypherdoc's attorney describes him as the "the LeBron James of the Bitcoin world"-- presumably that was the least redicilous claim they could deploy to provide any other rationale the amounts paid in an effort to avoid the conclusions people actually in the Bitcoin world drawing in this thread.
The original court document has him representing himself. So cypherdoc thinks that he is the "LeBron James" of Bitcoin world? ... does that make HashFast the Cavaliers? |
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I don't see how any mining offer can ever live up to the promise.
Essentially the manufacturer, if they can even make product, will always switch on the miner and mine to the point of un~profitability themselves then send you your product in almost all cases.
Even a company sends the first batch out ok, will then really make a killing on the second batch, which they can now sell at a premium and have more funds to make more product which then arrives late. Thus arbitraging out their good will from the first batch.
Only those with direct access to fab shops and economies of scale can mine at a profit.
Another way to look at it would be: once 3D printing of microchips (and the initial examples will likely be literal micrometer scale process geometry), then home miners can wrest back a significant part of the market. They don't even necessarily need to be profitable; over-optimistic mining economics only begins to hit home once it's far too late to cut a reasonable proportion of losses, and it's easier to rationalise in that way when you're not risking the huge amounts of capital that large mines are. For that reason, an expanded home mining market could help reverse the centralisation trend in mining. This is an interesting far-out there line of thinking. Any one of a number of mining developments that put distributed mining at a cost advantage over rack farms could arise as the ASIC mining chips plateau at the current state-of-the-art technological maturity for general chip manufacture. For example, the 21 inc. strategy seems to be along those lines but it is hard to tell from the scant information available. Power, bandwidth and validation time costs are at least 3 significant variables in a complex multivariable optimisation that could potentially throw up geographically-distributed, commoditised hardware networks as optimal solutions. It is possible that the current phase of concentrated mining in specific locales is a temporary aberration bought about by the ramping-up for development of mining hardware technology to current state-of-the-art that favours manufacturer-miners or close associations between chip producers and miners. The same economic incentive demonstrated by the temptation found too great to resist by the pre-sold 'factory testing' mining, drawing hardware developers and their 'rockstar salesmen' over to the dark side. When chip cost of production/development becomes a less significant cost than power, due to it being mature in the development cycle, then tendency will be back towards commoditised hardware. BTCs being mined to pay for silicon/engineering/development should eventually revert back to BTCs being mined to pay for power, rent, sys-admin, i.e. functions/services that are widely distributed and less specialised, as it was in GPU or CPU mining eras. |
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Does anyone have information about how much actual mining by customers was done by HashFast gear? (If any.) And were they running the old 'factory test' mining before shipping to customers boondoggle? Still, if it's more than marginally profitable, why sell those machines instead of mine with them?
Because of the huge risks and dis-economies of scale (supplying cooling and power at the multiple megawatt level is severely problematic; with installs wanting 20 year contracts and other such fun stuff). You be right about some of those things, but in that case there is the incentive to mine with customers gear on some smaller scale before it ships out. I think BFL was accused of that. |
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Hmmm, where does the 10% figure come from, did HashFast pull in 30,000 BTC? Regardless, 3000 BTC to shill some electronic hardware with speculative outcomes in incredibly misguided or shady. Why cypherdoc cannot see that the right thing is to give the money back to injured parties is kind of sad for a medical doctor sworn to the hippocratic oath. (Maybe he thought they said it was a hypocritic oath?  ) Thats quite hefty. I have read the trust ratings and he really received 10% of the income of hashfast? Can any judge believe that that?
This really looks like a not so good done scam now. Probably not planned from the start because not clever enough. Except they thought they can deliver and nobody would complain.
Though even then, 10% of the income is not healthy for a company in any way. Giving that back is fully fair, regardless of the excuses.
Ill rate him red now.
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That Litecoin pump was pretty predictable.. People are actually interested in crypto's but bitcoin is just to expensive..
just buy half a bitcoin. |
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He got his money back. This is a lie, he hardly got shit back. People and many small businesses in Greece are now in exactly same situation. The money doesn't exist, it never did. It's a big fiction made up in the databases of untrustworthy central banks. People want to believe the fiction of fiat make-believe money right up until the last 'disappearing act' ... this show is like all good magicians and illusionists, the object was never there to begin with, you just need to convince the audience that it is. There is no money, it's just a bunch of debts and promises stacked on top of each other to the sky. When enough people wake up and demand to see the real money, there is none. It is not if, it is when. Illusions cannot last forever. Italy is next. |
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full rallytard mode ... nek stop 280
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In November 2013 I raised enough cash to get a miner, all the Bitfuries were sold out everywhere and the Jupiter's had all shipped.
My choices in order were:
1. Black Arrow (they straight up stole my money)
2. HashFast
3. Cointerra
4. BFL
I was destined to be scammed no matter what. HashFast almost got my money.
Seeing as the scammers had 100% market capitalization I wonder were all these cocksuckers in collusion?
Fucking bastards.
Ouch, that sucks. Quite surprising you are still around bitcoin after a negative experience like that.  I really worry about the long term damage done to bitcoin reputation in the tech. community due to these failed mining schemes. Are you involved in any other bitcoin projects/meetups, etc now or since that mining scam crap? |
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No matter what people say, humans will always have a higher hand in the race than computers. They might be error free, smart and efficient but there is something in humans which machines fail to develop. Wisdom and emotions. And that is enough to inflict massive change.
I agree. They might program manners and ethics, but can they teach a robot to develop feelings? Even if they achieve that, what will they call it? Artificial emotions? EXACTLY. We humans crave affection and touch of each other, and no robot, regardless of how humane it might seem would be no replacement to a beating heart of your mother making you food with a smile on her face with her real affections. ... just be happy you had a mother like that. |
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Looks like cypherdoc has got this thread promptly moved off the front page, no wonder, the HashFast scandal stinks to high almighty. I'm just disturbed now that he may have paid some bitcointalk moderators to achieve this manipulation ... maybe it is time for a general cleaning of house around bitcointalk.org?
I moved it. Last person I'm going to take bribes from is someone who has actively tried to have me removed from my position. He's already screwed his reputation, not going to give someone like that a chance to screw mine. That said, I actually came in this thread to say I didn't think he was that kind of person, but that sure is pretty cut and dried. Sad to see. Still belongs in scam accusations though. Interesting. I didn't see it, or intend it, as a scam accusation. Note I used "probably epic scammer" and "looks like" etc on the possible fraud aspects of the scandal. And that part was only an addendum to the main point that he admitted in court documents that he is a paid shill. The paid shilling to the tune of $2,274 per post is what cypherdoc used himself as a defense in a legal case. That was the main point of the post. I guess the obviously ludicrous court defense makes it plain there is some scam going on here and although I was highlighting something else it could easily look like a scam accusation. In my view, there is something else fishy going on here with being paid that much to shill a non-existent mining product but that is for the courts to decide. I suspect he may have got himself into the situation where he happened to be the "trusted" bitcoin guru who ended up receiving all the incoming BTC funds for HashFast pre-orders and now he either doesn't want to hand them back or simply can't because he has lost them ... or some other weird bitcoin story that would-be sharpies get themselves into with crypto-currencies. |
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