Troll free thread about the facts of HashFast's bankruptcy

[kikaha]

Do you have insight into this new creditor proposal?  Can things get resolved quickly so we can all get some or all  of our money back and move on?  Before August 20th?

[Micky25]

hmm, this didn't sound so risky to me at that time.

Well then, I hoped you've learned to do you own due diligence at some point since Oct 2013.  It's an invaluable lesson we all should have.

Otherwise you'll be stuck being one of those ridiculous people xstr8guy was so right to mock:

You invested in a very risky startup in an extremely volatile market.  And you didn't think there weren't going to be any bumps in the road along the way?

Or did you just think that these "money machines" were just going to make you rich without any effort or stress on your part?

so, in your world "some bumps in the road" equals a nearly complete failure? You do due dilingence every time you order something from Amazon? What more due diligence could we have done at that time, than to believe the promises that have been stated by this company over and over and over again? I only lost money to HashFast, while all my other ASIC investments ROIed very nice, so don't tell me I didn't know what I do.

The problem is HashFasts incompetence, not dumb customers.

[iCEBREAKER]

Do you have insight into this new creditor proposal?  Can things get resolved quickly so we can all get some or all  of our money back and move on?  Before August 20th?

Sorry, I don't have any such insight.  MinorMiner probably does, but he'd rather dox and stalk me than let the us know what brilliant move Koi is planning next.   

Their original scorched-earth plan (Chapter 7) went nowhere, and now they are struggling to deal with the other, more reasonable, creditors.

Koi and Gallo deserve each other, from what I've read.

With luck, LiquidBits and IceDrill may form an alliance to sell the IP, fund board assembly, and host miners, to the benefit of all creditors.

[scr3u.ucr3trs]

Do you have insight into this new creditor proposal?  Can things get resolved quickly so we can all get some or all  of our money back and move on?  Before August 20th?

Sorry, I don't have any such insight.  MinorMiner probably does, but he'd rather dox and stalk me than let the us know what brilliant move Koi is planning next.   

Their original scorched-earth plan (Chapter 7) went nowhere, and now they are struggling to deal with the other, more reasonable, creditors.

Koi and Gallo deserve each other, from what I've read.

With luck, LiquidBits and IceDrill may form an alliance to sell the IP, fund board assembly, and host miners, to the benefit of all creditors.

The creditors committee has to come up with a plan since the LB plan wasn't approved by them, so it won't include LB at all as they've said publicly they don't trust them or there ability to run a mine.  But they talk about the Eddie-Guido franchise plan which has to be just as un-trustable as the LB one.  Who is IceDrill and why would they do anything for the creditors?

[kikaha]

From https://icedrillasic.appspot.com/ IceDrill is DigiMex, so they are an early Batch 1 customer.  Agree that don't understand what is their motivation to help the creditors.

Do you have insight into this new creditor proposal?  Can things get resolved quickly so we can all get some or all  of our money back and move on?  Before August 20th?

Sorry, I don't have any such insight.  MinorMiner probably does, but he'd rather dox and stalk me than let the us know what brilliant move Koi is planning next.   

Their original scorched-earth plan (Chapter 7) went nowhere, and now they are struggling to deal with the other, more reasonable, creditors.

Koi and Gallo deserve each other, from what I've read.

With luck, LiquidBits and IceDrill may form an alliance to sell the IP, fund board assembly, and host miners, to the benefit of all creditors.

The creditors committee has to come up with a plan since the LB plan wasn't approved by them, so it won't include LB at all as they've said publicly they don't trust them or there ability to run a mine.  But they talk about the Eddie-Guido franchise plan which has to be just as un-trustable as the LB one.  Who is IceDrill and why would they do anything for the creditors?

[iCEBREAKER]

From https://icedrillasic.appspot.com/ IceDrill is DigiMex, so they are an early Batch 1 customer.  Agree that don't understand what is their motivation to help the creditors.

I got a Notice of Substantive Consolidation today.  That means combining the HF Delaware LLC with the HF California LLC for liquidation purposes.

So the IP will be up for grabs.  It may fetch a good sum, because the GN1.5 AND GN2 chips should be even better than the first.

But the rights to the GN1 are the real prize.  Imagine being able to fabricate as many 750+ GH chips as you can afford!   

IceDrill just happens to have a fat stack of coins which have been sitting around, waiting patiently for such a Golden opportunity...   

[Minor Miner]

From https://icedrillasic.appspot.com/ IceDrill is DigiMex, so they are an early Batch 1 customer.  Agree that don't understand what is their motivation to help the creditors.

I got a Notice of Substantive Consolidation today.  That means combining the HF Delaware LLC with the HF California LLC for liquidation purposes.
So the IP will be up for grabs.  It may fetch a good sum, because the GN1.5 AND GN2 chips should be even better than the first.
But the rights to the GN1 are the real prize.  Imagine being able to fabricate as many 750+ GH chips as you can afford!   
IceDrill just happens to have a fat stack of coins which have been sitting around, waiting patiently for such a Golden opportunity...   

I thought they only had 700BTC?   That will not buy the IP if it is put up for auction.

[iCEBREAKER]

I thought they only had 700BTC?   That will not buy the IP if it is put up for auction.

No, 700BTC probably won't.  But that depends on the price of BTC when/if an auction happens, the state of the competition/industry, etc.

700BTC may be sufficient collateral for a big enough loan, or to share costs by entering into a partnership.

Sorry I didn't previously recall meeting you.  I had a look around the old Mind Palace and there you were, next to the tasty Manhattan I also enjoyed having during our introduction.  Was it Tom or Tim?  

[dropt]

I thought they only had 700BTC?   That will not buy the IP if it is put up for auction.

And the bulk of those coins belong to ID's shareholders.  They're the summation of dividends that the operators have deflected paying out since the mine started.

As a shareholder of ID I DO NOT authorize ID and/or its operators to use my portion of said coins to go towards franchising and/or purchasing HF IP.

[dropt]

700BTC may be sufficient collateral for a big enough loan, or to split costs by entering into a partnership.

They're not ID coins you idiot.  They're shareholder coins.  They should have been paid out, but since Will and Ludvig appear to be operating along the lines of securities fraud, they have not been.

[iCEBREAKER]

As a shareholder of ID I DO NOT authorize blah blah blah

Nobody cares what you do or do not authorize.  

ID has a fiduciary responsibility to manage our assets as is best for the entirety of the enterprise and its backers, and that is what they're doing.

Your kvetching and tantrum-throwing are completely irrelevant.  

[cloverme]

I would caution anyone about getting their hopes up that's looking forward or counting on getting and substantial return from a bankruptcy filing. When the creditors or representatives of the banks are at the proceeding, they take the majority. And before them is anything that was secured debt. As a customer (no matter how much you paid), you usually have to wait until everything is liquidated (I'm talking like the pen holders on the desks), which is then divided to everyone else. Chances are high that you will get pennies on the dollar unless you are near the top of the list of creditors on the bankruptcy statement.

I got stiffed back in the dot com days when all sorts of stuff went belly up and I was owed tens of thousands. So, I would just caution on making any plans, your best bet is getting a lawyer and go to the proceeding.

[kikaha]

This is actually worse than the dotcom days, since the longer this takes to settle, the less the chips are worth.  Both chips and IP are devaluing daily.

I would caution anyone about getting their hopes up that's looking forward or counting on getting and substantial return from a bankruptcy filing. When the creditors or representatives of the banks are at the proceeding, they take the majority. And before them is anything that was secured debt. As a customer (no matter how much you paid), you usually have to wait until everything is liquidated (I'm talking like the pen holders on the desks), which is then divided to everyone else. Chances are high that you will get pennies on the dollar unless you are near the top of the list of creditors on the bankruptcy statement.

I got stiffed back in the dot com days when all sorts of stuff went belly up and I was owed tens of thousands. So, I would just caution on making any plans, your best bet is getting a lawyer and go to the proceeding.

[scr3u.ucr3trs]

From https://icedrillasic.appspot.com/ IceDrill is DigiMex, so they are an early Batch 1 customer.  Agree that don't understand what is their motivation to help the creditors.

I got a Notice of Substantive Consolidation today.  That means combining the HF Delaware LLC with the HF California LLC for liquidation purposes.

So the IP will be up for grabs.  It may fetch a good sum, because the GN1.5 AND GN2 chips should be even better than the first.

But the rights to the GN1 are the real prize.  Imagine being able to fabricate as many 750+ GH chips as you can afford!   

IceDrill just happens to have a fat stack of coins which have been sitting around, waiting patiently for such a Golden opportunity...   

Where is all the value in IP that the company, according to the testimonies, doesn't own? Wouldn't there be a lot of interest in buying the company if the IP was so valuable?  Hasn't that been tried already?

[PewDiePie]

Can I ask why there are 3 threads about the same thing made by 2 different people? (1 is now closed but still there)

maybe someone out there need free space to but they want to makes  their own lol 
better here all llooks pro .

[schwab]

 

Icebreaker's Troll free thread about the facts of HashFast's bankruptcy

Icebreaker just changes topic or point of conversation when starting to get cornered. It's not worth trying to display any facts here, because of this shill of a man. The talking points are already written out. This is just a spin and control thread.

It's like watching mainstream news. The same lines are spat out to a different host poster, with no effort to answer questions at hand. Some one questions it? Personal attack.

Lawyer up, it's the American Way.

[iCEBREAKER]

Icebreaker just changes topic or point of conversation when starting to get cornered. It's not worth trying to display any facts here, because of this shill of a man. The talking points are already written out. This is just a spin and control thread.

It's like watching mainstream news. The same lines are spat out to a different host poster, with no effort to answer questions at hand. Some one questions it? Personal attack.

Lawyer up, it's the American Way.

I changed the topic of conversation to a completely relevant one, two days BEFORE someone else started the same discussion (I know it's hard for you, but do try and keep up):

MOTION FOR SUBSTANTIVE CONSOLIDATION

In this case I'm guessing this is a good thing because it will add the IP from the east cost component to the chips of the west as assets.  Or am I totally wrong here?

From https://icedrillasic.appspot.com/ IceDrill is DigiMex, so they are an early Batch 1 customer.  Agree that don't understand what is their motivation to help the creditors.

I got a Notice of Substantive Consolidation today.  That means combining the HF Delaware LLC with the HF California LLC for liquidation purposes.
So the IP will be up for grabs.  It may fetch a good sum, because the GN1.5 AND GN2 chips should be even better than the first.
But the rights to the GN1 are the real prize.  Imagine being able to fabricate as many 750+ GH chips as you can afford!   
IceDrill just happens to have a fat stack of coins which have been sitting around, waiting patiently for such a Golden opportunity...   

I thought they only had 700BTC?   That will not buy the IP if it is put up for auction.

[iCEBREAKER]

If the debtors do not cooperate the judge has committed to hearing our motion to have new management put in place August 20th.  Hopefully the debtors will be rational and we can get positive action taken before that date.

Is any progress being made?

It's funny how cedavid spend months bragging about how he and his lawyer were totally committed to suing HashFast, because he's now fired his lawyer and is merely another spectator! 

What happened to his braggadocio? 

we will easily win our case. I should hear back from the lawyer today...

Someone with deep pockets needs make a example out of this company.

We need to do that ourselves. What's the problem in sharing some money for a lawyer? I'm ready to put 10k$ in myself (i'm sorry to keep repeating that).