Yes you should vote for the plan, it matters. If you go read the proposal you will see a listing of estimated recoveries they expect to get that total several million dollars on top of the cash they have on hand right now. The company had a 3 million dollar insurance policy for example. They are also in the process of suing Cypherdoc to recover 3000 BTC plus a few other things.
I just found out about this and it blew me away. When the crap hit the fan and hashfast refused to make good on their promises to early customers I'd down-rated cypherdoc-- after all, he traded on his reputation to convince others to buy and when it didn't go as he presented if his reputation didn't take a hit, what good is reputation as a signal? Subsequently he convinced me that in spite of his paid shilling he was mostly just another victim of this mess and convinced me to remove the rating; the shilling was crappy, but everyone makes mistakes and his "losses" in hashfast surely were enough punishment. Today I read that litigation and discovered that he actually received 3000 BTC for his shilling services plus other considerations (and even a refund on an order), and walked with it while so many of the rest of us got squat. What the ?!?! So much for just another victim! I've gone and restored my negative rating, damn. Can you find us an excerpt or passage discussing this? I had a look but there are 100s of pages it could be hiding in. The case number is 15-03011 in US Bankruptcy Court Northern California. Check out document #1 toward the bottom of the page. The case is against cypherdoc aka Marc A. Lowe an eye doctor in California. |
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Yes you should vote for the plan, it matters. If you go read the proposal you will see a listing of estimated recoveries they expect to get that total several million dollars on top of the cash they have on hand right now. The company had a 3 million dollar insurance policy for example. They are also in the process of suing Cypherdoc to recover 3000 BTC plus a few other things.
I just found out about this and it blew me away. When the crap hit the fan and hashfast refused to make good on their promises to early customers I'd down-rated cypherdoc-- after all, he traded on his reputation to convince others to buy and when it didn't go as he presented if his reputation didn't take a hit, what good is reputation as a signal? Subsequently he convinced me that in spite of his paid shilling he was mostly just another victim of this mess and convinced me to remove the rating; the shilling was crappy, but everyone makes mistakes and his "losses" in hashfast surely were enough punishment. Today I read that litigation and discovered that he actually received 3000 BTC for his shilling services plus other considerations (and even a refund on an order), and walked with it while so many of the rest of us got squat. What the ?!?! So much for just another victim! I've gone and restored my negative rating, damn. Yeah, cypherdoc wasn't a victim in any sense of the word. He made a spectacular sum of money off this fraud and unlike most customers got a full refund. Even though Hashfast's narrative was that "refunds bankrupted the company" in reality they refunded a very small percentage of customers totaling a low six figure number in USD terms and cypherdoc was one of them. |
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The most recent hearing was interesting. A former Hashfast employee showed up and told the judge he handled inputting customer orders into Salesforce and that he thinks that money was siphoned from the company based on the totals he saw when he worked there.
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Price is way high and you don't even have the model number of the PSU right. You can get a better break out for that PSU from Gigampz for $5 less and Gigampz uses top quality parts not some cheap junk that looks like it is going to melt. http://www.gigampz.com/store/p1/Gigampz_for_DPS-800GBA.html |
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Our platinum kit is perfect for running 2 S5's for those that are in on Bitmain's last batch. Our stock is going fast so don't wait to order your PSU if you have S5's on the way.
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Any new information it has been over a week?
No. Courts move at the speed of US mail, things happen on time scales of months. |
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We've added a 1200 Watt basic efficiency PSU kit to our line-up for $84.79 It's between bronze and silver but doesn't have an official 80Plus test report for this model. Gigampz power supplies for bitcoin miningPlenty of kits boards and cables left... |
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Can I still send my ballot for acceptance or rejection of 'the plan', or is it already too late?  You can always. Send it via email and you will get a response. |
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minersource.net was only their website name. Their actual business registered with the state was called "Miner Hosting, llc". It was originally registered in Missouri and then registered as a foreign corporation when Matt moved to Colorado. He a large number of PSUs from me a couple months before he skipped town and had them shipped to the same address that OregonMines now operates from. Despite their insistence to the contrary OregonMines is most definitely a continuation of minersource.net/MinerHosting, llc. I'm in the process of pursuing Matt and OregonMines for the unpaid debt. I've already won a judgment against Miner Host, llc in Colorado small claims court (Adam's County CO Case #2015S500084). No one from Miner Hosting even showed up to court.
What do chances of actually collecting the debt look like? Excellent. Matt hasn't followed the corporate formalities so I plan to ask the court to hold him personally responsible for Miner Hosting's debt to me. I tracked down his current home address and he is currently renting a luxury house in Oregon for $1,900 /month. If he has that kind of cash to drop on rent it's hard to plead poverty. His parent's also live in a multi million dollar house in Texas so if someone can prove Matt's dad was a part owner in Miner Hosting then there are a lot of assets there for sure. Not to mention that OregonMines probably has hundred of thousands of dollars of mining equipment in their warehouse in Oregon that could be seized by the Sheriff and sold at auction as a last resort. |
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minersource.net was only their website name. Their actual business registered with the state was called "Miner Hosting, llc". It was originally registered in Missouri and then registered as a foreign corporation when Matt moved to Colorado. He a large number of PSUs from me a couple months before he skipped town and had them shipped to the same address that OregonMines now operates from. Despite their insistence to the contrary OregonMines is most definitely a continuation of minersource.net/MinerHosting, llc. I'm in the process of pursuing Matt and OregonMines for the unpaid debt. I've already won a judgment against Miner Host, llc in Colorado small claims court (Adam's County CO Case #2015S500084). No one from Miner Hosting even showed up to court.
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That guy comes off as a raving lunatic. |
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So does it matter whether this proposal gets approved or not?
Yes you should vote for the plan, it matters. If you go read the proposal you will see a listing of estimated recoveries they expect to get that total several million dollars on top of the cash they have on hand right now. The company had a 3 million dollar insurance policy for example. They are also in the process of suing Cypherdoc to recover 3000 BTC plus a few other things. I'm not certain that the decision was as cut and dry as that. Ask yourself, "who continues to profit if we vote Yes?" If you have a specific objection why don't you just come out and say what exactly you think is wrong with the plan. |
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So does it matter whether this proposal gets approved or not?
Yes you should vote for the plan, it matters. If you go read the proposal you will see a listing of estimated recoveries they expect to get that total several million dollars on top of the cash they have on hand right now. The company had a 3 million dollar insurance policy for example. They are also in the process of suing Cypherdoc to recover 3000 BTC plus a few other things. What about ICEBREAKER... is he being sued? Doesn't he have some BTC in his hot little shill mitts? No, as far as I can tell Icebreaker is just a nobody with a big mouth who was paid a mediocre salary and nothing else. He filed a outrageous claim that he is owed a large amount of money and that probably will be disputed since there is no factual basis for it. |
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To get the $3M from insurance, it looks like it will take $500K to litigate. Any ideas where this money is coming from if they can't even pay the current legal bills? Is there enough money left to go after Cypherdoc? So does it matter whether this proposal gets approved or not?
Yes you should vote for the plan, it matters. If you go read the proposal you will see a listing of estimated recoveries they expect to get that total several million dollars on top of the cash they have on hand right now. The company had a 3 million dollar insurance policy for example. They are also in the process of suing Cypherdoc to recover 3000 BTC plus a few other things. For starters a some of the work as already been done (ie: the lawsuit against CypherDoc was filed a while ago) and is included in the legal costs that have already been incurred. They could also make a contingency deal with what ever lawyer they hire to see this though. In other words they only get paid if they win. |
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So does it matter whether this proposal gets approved or not?
Yes you should vote for the plan, it matters. If you go read the proposal you will see a listing of estimated recoveries they expect to get that total several million dollars on top of the cash they have on hand right now. The company had a 3 million dollar insurance policy for example. They are also in the process of suing Cypherdoc to recover 3000 BTC plus a few other things. |
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We've added a 1200 Watt basic efficiency PSU kit to our line-up for $84.79 It's between bronze and silver but doesn't have an official 80Plus test report for this model. Gigampz power supplies for bitcoin mining |
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We are back in stock on cables. Also the Gigampz CS boards have arrived and are currently shipping. http://www.gigampz.com |
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For those that were waiting; we have just under 100 Common Slot V2 boards available, they begin shipping Wednesday. We are also still offering discounts on the 1200 Watt Platinum kit as well. We are temporarily out of the 6-pin cable packs. Should have more of those available early next week. http://www.gigampz.com |
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We are running low on the server grade kits. Plenty of Platinum kits left. We are running a sale on the platinum kits right now for $10 off the normal price. We also have our DPS-2000bb board available for immediate shipping in small quantities. We expect more CS / Common Slot compatible boards from the factory on April 21st. http://www.gigampz.com |
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We are back in stock on cables. Also still have kits in stock ready to ship immediately.
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