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8541  Bitcoin / Hardware / Re: HashFast announces specs for new ASIC: 400GH/s on: August 29, 2013, 05:33:05 PM
3) Also, please note: We will soon be moving away from the MtGox Weighted Average Exchange rate for the direct bitcoin transfer payment option. Take advantage of this high exchange rate Now!

Wait... Given the fact that there is a 10-20% spread between the MtGox exchange rate and the Bitstamp rate that Bitpay uses, does this mean that customers using BitPay paid significantly more for their orders compared to the direct bitcoin transfer customers?



I would assume yes.

http://blog.bitpay.com/2013/06/important-update-on-bitpay-exchange.html

Well, that is not cool. HashFast customers using BitPay will have overpaid by ~15% then. Otoh it means that the MPP should kick in sooner for these folks but still...

it's not like HF has taken advantage of you.

when they exchange those BTC to USD to pay expenses they are forced to take the BitPay rate on the back end too due to mtgox illiquidity.
8542  Economy / Speculation / Re: Financial Risk Analytics-Subscription Service on: August 29, 2013, 03:27:10 PM
dsl
8543  Bitcoin / Hardware / Re: ► ► ►HashFast Endorsement on: August 29, 2013, 02:21:03 PM
you better make sure this thread stays near the top until completely sold out... or else

thanks for helping.
8544  Bitcoin / Hardware / Re: ► ► ►HashFast Endorsement on: August 29, 2013, 02:15:16 PM
with the additional released inventory already down to only 6 units left, along with the backorders, i think the marketplace has spoken.
8545  Bitcoin / Hardware / Re: ► ► ►HashFast Endorsement on: August 29, 2013, 01:58:20 PM
i wouldn't equate the two:

This single program is going to blow everyone away.

Just to put things in perspective Cointerra has also offered a "MPP" of sorts.

On-Time Delivery Commitment – If CoinTerra fails to deliver chips or rigs within 30 days of its promised December delivery window, the company will credit your account 20% of the hash power of your order;

seems to me the Dec 31 full refund policy would negate this element.

Quote
Price Protection – For any undelivered orders, if the company changes the price of TerraMiner systems or GoldStrike1 ASICs before delivery, CoinTerra will re-price all orders and offer either a cash refund or a larger and more valuable hash power credit;

HF has also offered a repricing if they lower their prices for this batch 1.

Quote
Customer Exchange – If a customer has a confirmed order and their circumstances change to prevent them from completing the sale, CoinTerra will help them find another party amongst their existing customers to take their place in the product queue. While CoinTerra cannot guarantee there is a buyer for an order or a place in the queue, the company will do its best in good faith to help

this is a more touchy, feely type of offer with no guarantees.  i would think HF would do the same thing altho they haven't stated it.
Quote
I would say this is comparable to HashFasts.


Sadly they only accept BTC and Wire Transfers too.


Disclaimer: I have no orders with either HashFast or Cointerra (Unless you count IceDrill shares as HashFast orders)

i really think that ppl haven't stopped and thought about just how generous an offer the MPP truly is.  just look closely at the example on their website:

"Example 2 – You buy a Baby Jet for 50 BTC, and we ship it on October 25th.  January 23, 2014 comes and goes, and it turns out that at the Baby Jet’s nominal hashrate, it would only have generated 25 BTC during that 90 day period.  Calculated out, it would have taken an additional 400 Ghash/s of capacity shipped with your Baby Jet on October 25, 2013 to generate 50 BTC, so we will give you 800 Ghash/s in additional capacity. In this example, HashFast will give you two additional Golden Nonce ASICs, each with 400 nominal GHash/s."

assuming that the network HR doesn't go so ballistic making the 400% maximum MPP guarantee ineffective, we know the following: not only are they going to make you break even AFTER 90 DAYS of having received your unit, but they are willing to give you an extra 400 GH/s in this example to thrust you clearly into profitability.  

that's extraordinary.  AND they are going in the right direction development-wise to allow them to do this.  smaller dies, not bigger.  in other words, more dies per wafer than their competitors making it possible and cost effective for them to offer this.
8546  Bitcoin / Hardware / Re: ► ► ►HashFast Endorsement on: August 29, 2013, 01:42:38 PM
Think about it. Why wouldn't they make good on their greatest single advantage over every other competitor in the marketplace?

With all due respect: because they don't have to.

why would you doubt the veracity of what they've said?

i would think that there would be some legal culpability from advertising the program on their website.
8547  Bitcoin / Hardware / Re: ► ► ►HashFast Endorsement on: August 29, 2013, 12:41:55 PM
The MPP is not a sham.

Plans are being made to manufacture those chips assuming they will be needed.

Think about it. Why wouldn't they make good on their greatest single advantage over every other competitor in the marketplace?

This single program is going to blow everyone away.
8548  Bitcoin / Hardware / Re: ► ► ►HashFast Endorsement on: August 28, 2013, 06:40:13 PM
Additional Babyjets released due to non receipt of wires.

Other very good news coming.
8549  Economy / Speculation / Re: Financial Risk Analytics-Subscription Service on: August 27, 2013, 09:13:21 PM
wow
8550  Bitcoin / Hardware / Re: HashFast announces specs for new ASIC: 400GH/s on: August 27, 2013, 01:48:16 AM
This was probably mentioned, but just wanted to let people know that HashFast was nice enough to refund me about 6 BTC due to mispricing of the exchange rate. Not bad! I wasn't even expecting it.

What exchange rate did you get charged?the

I noticed the exchange rate on my purchase wasn't very good.

I ordered the first date and paid $94.5/btc.

That's because Bitpay was using the Bitstamp rate.

Don't worry, HF got screwed on the other end too.
8551  Bitcoin / Hardware / Re: ► ► ►HashFast Endorsement on: August 26, 2013, 02:41:29 PM
Cyberdoc, are the MPP chips based on what we _would_ have needed to have broken even on our investment at time of delivery delivery, rather than what we need now (90day later) to break even from here. 
In 90 days time the difficulty might have gone up 441% (genesis block calc)

I think what you're asking is if there is a cap on the MPP?   There is.

Actually having read their MPP page it is mostly clear, that they base the MPP chips on what you would have needed from the beginning to mine your purchase price.  Having said that they give an example of paying 50btc, mining only 25btc and in return they give you +2 GN chips  Huh

For that level of detail you're going to have to ask the company.
8552  Bitcoin / Hardware / Re: ► ► ►HashFast Endorsement on: August 26, 2013, 02:32:54 PM
Cyberdoc, are the MPP chips based on what we _would_ have needed to have broken even on our investment at time of delivery delivery, rather than what we need now (90day later) to break even from here. 
In 90 days time the difficulty might have gone up 441% (genesis block calc)

I think what you're asking is if there is a cap on the MPP?   There is.
8553  Bitcoin / Hardware / Re: ► ► ►HashFast Endorsement on: August 26, 2013, 02:03:13 PM
The way I see is say for example you get your rig by November 15th 2013. And you mine it for 90 days (until it "comes and goes" - the word they used on their example). At the end of the 90 day if you still haven't made ROI, then you request the MPP with them and they will calculate (by just looking at the difficulty history) to see if November 15, 2013 + 90days was enough to make ROI from. If it wasn't enough, then they will give you enough hashing power (up to 4x) to you.

Say they will give you 3 chips. Then you either pay them for PCB/assembly/delivery (1.3k - 2k) or you can just send it off (with delivery fee) to your chosen 3rd party PCB/rig maker. And that's that. If you don't make ROI after that then you never will.

Correct me if I'm wrong.

yes, this is the way i understand it as well.

the only small clarification is that they are going to err to the high side for your benefit.  if, for instance, you bought one unit and the HF calc comes back that you actually needed 2.5 chips to have broken even, then they are going to mail you 3 chips as they really DO want their miners to win this game even if it comes at their expense.  

it's a good long term strategy.



8554  Bitcoin / Hardware / Re: ► ► ►HashFast Endorsement on: August 26, 2013, 06:10:26 AM
Also, don't forget that those of you lucky enough to get a box now will most likely be able to install the Golden Nonce 2 once it comes out.

Are you saying that the chip is socketed so it can be removed and replaced with a different chip?

No, I am not.

I don't think they are going to have the luxury of time needed to include a socketed solution as time of delivery is most  important to them.

But hopefully the chip will be mounted on a solution that can be easily plugged in.
8555  Bitcoin / Hardware / Re: ► ► ►HashFast Endorsement on: August 25, 2013, 07:02:14 PM
It looks like we'll be sold out by tomorrow.
-John

Well, it should be no surprise, especially since you've so generously decided to account for this in BTC.

Anyone not taking advantage of such a program as this is making a huge mistake since it's a one time offer.

All those trying desperately to frame this as equivalent to a pre delivery refund are foolish and shills. This is a great put option that could launch you into profitability once the difficulty levels off, which it will,  probably around the time this is scheduled to take effect.

Also, don't forget that those of you lucky enough to get a box now will most likely be able to install the Golden Nonce 2 once it comes out.
8556  Bitcoin / Hardware / Re: ► ► ►HashFast Endorsement on: August 25, 2013, 04:11:27 PM
Only 39 rigs left that will have the MPP.
8557  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: August 25, 2013, 12:32:49 AM
Where is the miner protection program?
8558  Bitcoin / Hardware / Re: HashFast announces specs for new ASIC: 400GH/s on: August 25, 2013, 12:30:11 AM
Hi Everyone,

We have unveiled details of our Miner Protection Program here:  hashfast.com/miner-protection-program/

-John
Nice idea.



It's way more than nice.

And it happens to be unbeatable.
8559  Bitcoin / Hardware / Re: HashFast Miner Protection Program Discussion on: August 25, 2013, 12:27:40 AM
That is incredibly generous.

Glad you're limiting it to just batch 1.
8560  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: August 25, 2013, 12:13:38 AM
KNC shills = OC + 12mo warranty  + no thermal control = trouble
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