HashFast announces specs for new ASIC: 400GH/s

[iCEBREAKER]

Many people tried their best to explain this before it was too late, but we were drowned out by the shrieking of trolls like yourself and the rest of your Free Stuff Army.   

If HashFast doesn't ship anything this year, apart from Christmas cards, I get a full refund.  In BTC.

Given the coins have appreciated 300% vs fiat since I spent them, I'm fine with that.

Yes, I was deluded by glittering visions of risk-free windfalls, which I should have realized were an economic impossibility.  Greed + confirmation bias is a PITA.   

Thanks for the quote from November 2013.  Here's one from today you seem to have accidentally overlooked on purpose:

It took a student still in law school about 45 seconds to disabuse me of the delusion that such windfalls were reasonable, much less actionable.   

As I said w/r/t the actual scams BASIC and COGNITIVE, "live and learn."   

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[Gleb Gamow]

Many people tried their best to explain this before it was too late, but we were drowned out by the shrieking of trolls like yourself and the rest of your Free Stuff Army.   

If HashFast doesn't ship anything this year, apart from Christmas cards, I get a full refund.  In BTC.

Given the coins have appreciated 300% vs fiat since I spent them, I'm fine with that.

[iCEBREAKER]

The 51 BTC statement assumed the exchange rate would remain stable, not spike 5-10 times and set new records.

Prove it. Show the statement from HF stating such a restriction. PROVE IT OR YOU ARE LYING.

sorry to put salt on old wounds but lying is rarely legally actionable.  If someone lies to you and it is obvious to a reasonable person then you can't rely on that lie and claim damages.  The very fact that the TOS was directly oposite of those BTC refund marketing statements should've been a big red flag.

Careful, don't piss off PG and his Free Stuff Army.  They don't take kindly to common sense, facts, and such fancy talk.  They know what they know and that means windfalls No Matter What.

Better keep your mouth shut before PG does his creepy little dox and stalk thing to you too (as if ad hominem trolling will change the facts of the matter).   

[Gleb Gamow]

Many people tried their best to explain this before it was too late, but we were drowned out by the shrieking of trolls like yourself and the rest of your Free Stuff Army.   

If HashFast doesn't ship anything this year, apart from Christmas cards, I get a full refund.  In BTC.

Given the coins have appreciated 300% vs fiat since I spent them, I'm fine with that.

ICEBREAKER's very next post in that thread...

Hi all,

Here is a picture of Kenneth Slaughter, VMC CEO, receiving the wafers!




Cheers,

ACTIVE MINING Team


EDIT: Oops, that's actually the CEO of HashFast receiving their wafers. 

ALWAYS BET ON iCE...

Pick of the same dude after receiving more orders for HashFast miners.



Same dude after Christmas, 2013.

[Gleb Gamow]

The 51 BTC statement assumed the exchange rate would remain stable, not spike 5-10 times and set new records.

Prove it. Show the statement from HF stating such a restriction. PROVE IT OR YOU ARE LYING.

sorry to put salt on old wounds but lying is rarely legally actionable.  If someone lies to you and it is obvious to a reasonable person then you can't rely on that lie and claim damages.  The very fact that the TOS was directly oposite of those BTC refund marketing statements should've been a big red flag.

Careful, don't piss off PG and his Free Stuff Army.  They don't take kindly to common sense, facts, and such fancy talk.  They know what they know and that means windfalls No Matter What.

Better keep your mouth shut before PG does his creepy little dox and stalk thing to you too (as if ad hominem trolling will change the facts of the matter).   

Hints to what's Ralph's last name in my PM box in 5...4...3... 

[pmorici]

Hints to what's Ralph's last name in my PM box in 5...4...3... 

You're slipping Gleb, we already know Ralph's last name is Crowder.  He was outed several pages back.

[jimmothy]

Many people tried their best to explain this before it was too late, but we were drowned out by the shrieking of trolls like yourself and the rest of your Free Stuff Army.  

If HashFast doesn't ship anything this year, apart from Christmas cards, I get a full refund.  In BTC.

Given the coins have appreciated 300% vs fiat since I spent them, I'm fine with that.

Yes, I was deluded by glittering visions of risk-free windfalls, which I should have realized were an economic impossibility.  Greed + confirmation bias is a PITA.  

Seriously you/hashfast are full of shit.

You didn't have any sort of epiphany about your delusions, you simply changed your opinion to fit your agenda which has always been promoting hashfast as the best who can never do anything wrong.

There is nothing "economically impossible" about btc refunds. Any competent company with that policy would keep the btc payments in cold storage instead of converting them to USD and gambling on the exchange rate.

[Syke]

You may disregard relevant details, such as the capacity and authority of the respondent, all you like.

Fine, I'll quote Simon. He confirms the same about of BTC refunds:

Now since the only payment option is in BTC Will I get the same ammount of BTC back should you fail to deliver by December 31st?

Orders are taken in BTC, in the unlikely event we get to refunds they will be given in BTC.

Make all the noise you want, it will never change the fact that your expectation for a windfall No Matter What^TM was unreasonable (based on common sense and common law), impossible (based on financial reality), and harmful (because it led people to lose their chance at 105% refunds by gambling on legally unsound wishful thinking).

Yes, I agree, HashFast was lying from the very beginning about BTC refunds in order to secure more pre-orders.

[Gleb Gamow]

Hints to what's Ralph's last name in my PM box in 5...4...3... 

You're slipping Gleb, we already know Ralph's last name is Crowder.  He was outed several pages back.

I think I missed it and it ain't coming up via any searches. Need help!

[iCEBREAKER]

Yes, I was deluded by glittering visions of risk-free windfalls, which I should have realized were an economic impossibility.  Greed + confirmation bias is a PITA.  

Seriously you/hashfast are full of shit.

You didn't have any sort of epiphany about your delusions, you simply changed your opinion to fit your agenda which has always been promoting hashfast as the best who can never do anything wrong.

There is nothing "economically impossible" about btc refunds. Any competent company with that policy would keep the btc payments in cold storage instead of converting them to USD and gambling on the exchange rate.

"Epiphany?"  Nope, I simply discussed the matter with a bright law school student for about 45 seconds.  She introduced me to the concept of a 'windfall' and that was that.  In retrospect it was obvious.   

How was HF supposed to both A) keep the BTC in cold storage, and B) pay for the chips/boards/machines to be produced?  That doesn't make sense!  Those are mutually exclusive actions. 

The kicking and screaming from those who refuse to acknowledge their mistakes is deafening.

As for PG and PM's dox and stalk sideshow, what is the point now that everyone but Simon and Eduardo have been laid off?

Are they just trying to distract everyone from their lulzy failure to secure windfalls at the cost of losing the opportunity for a full refund, or what?

[pmorici]

Hints to what's Ralph's last name in my PM box in 5...4...3... 

You're slipping Gleb, we already know Ralph's last name is Crowder.  He was outed several pages back.

I think I missed it and it ain't coming up via any searches. Need help!

My bad, it wasn't in this forum, you can find his last name by searching for people making claims against Hashfast under the name "Ralph" on the Pacer website.  At any rate it's in the public record.

[iCEBREAKER]

You may disregard relevant details, such as the capacity and authority of the respondent, all you like.

Fine, I'll quote Simon. He confirms the same about of BTC refunds:

Now since the only payment option is in BTC Will I get the same ammount of BTC back should you fail to deliver by December 31st?

Orders are taken in BTC, in the unlikely event we get to refunds they will be given in BTC.

Make all the noise you want, it will never change the fact that your expectation for a windfall No Matter What^TM was unreasonable (based on common sense and common law), impossible (based on financial reality), and harmful (because it led people to lose their chance at 105% refunds by gambling on legally unsound wishful thinking).

Yes, I agree, HashFast was lying from the very beginning about BTC refunds in order to secure more pre-orders.

"Lying?"  How was Simon supposed to know on August 9, 2013 that BTC was about to set new records by rising 500-1200%?  No reasonable person would expect HF to be culpable for such an outcome, much less actually believe a tiny new start-up could meet impossible obligations.

You violate Occam's Razor by positing a nefarious conspiracy where simple naivete offers sufficient explanatory power.

Also, you should have known better than to believe any interpretation that results in a risk-free, too good to be true, free lunch type outcome.  That's on you. 

Own it, sucker.   

[Syke]

"Lying?"  How was Simon supposed to know on August 9, 2013 that BTC was about to set new records by rising 500-1200%?

Because that's what bitcoin does. It has always been highly volatile.

No reasonable person would expect HF to be culpable for such an outcome, much less actually believe a tiny new start-up could meet impossible obligations.

Then it was a lie to promise it. Simple. They lied to gain orders.

[iCEBREAKER]

"Lying?"  How was Simon supposed to know on August 9, 2013 that BTC was about to set new records by rising 500-1200%?

Because that's what bitcoin does. It has always been highly volatile.

No reasonable person would expect HF to be culpable for such an outcome, much less actually believe a tiny new start-up could meet impossible obligations.

Then it was a lie to promise it. Simple. They lied to gain orders.

Lying requires intent.  There is no way Simon intended to lie, because on August 9, 2013 he did not know BTC would suddenly explode in value, making full BTC refunds impossible.  Are you saying Simon is psychic, or controls the price of BTC?  Do you know how crazy that sounds?

Furthermore, HF provided full refunds to the extent possible for them.  The rest are tied up in litigation, pending sale of assets.  That's how business works.  Grow up, son.

There are no charges pending against any HF people for fraud nor any other illegal action.  Your defamation is contrary to the facts, has no basis in reality, and makes you look like a gambling addict unable to accept responsibility for his share of the blame for a bad (but entirely self-imposed) outcome.

[Gleb Gamow]

Bruno, did you find any information about how much HF paid to Uniquify? I'm quite sure to have read it somewhere, probably in the examinations, but I don't remember where exactly. It's something that has been bothering me for a while.

http://www.plainsite.org/dockets/28mzy2tfp/california-northern-bankruptcy-court/hashfast-technologies-llc/

See if #41 is what you're looking for.

[Syke]

Lying requires intent.  There is no way Simon intended to lie, because on August 9, 2013 he did not know BTC would suddenly explode in value, making full BTC refunds impossible.  Are you saying Simon is psychic, or controls the price of BTC?  Do you know how crazy that sounds?

Simon is no idiot. Of course he knew it was possible for bitcoin to skyrocket. He knew full well that the price of bitcoin could go up, making BTC refunds impossible. Promising full BTC refunds was therefore a lie.

[iCEBREAKER]

Lying requires intent.  There is no way Simon intended to lie, because on August 9, 2013 he did not know BTC would suddenly explode in value, making full BTC refunds impossible.  Are you saying Simon is psychic, or controls the price of BTC?  Do you know how crazy that sounds?

Simon is no idiot. Of course he knew it was possible for bitcoin to skyrocket. He knew full well that the price of bitcoin could go up, making BTC refunds impossible. Promising full BTC refunds was therefore a lie.

It was also possible for BTC to collapse.  So what?  In early August 2013 BTC had stabilized at around $100.

Common sense (and any competent lawyer/law school student) should tell you that statement was made ceterus paribus.  Don't speak Latin?  Look it up!

The ridiculous No Matter What Even If BTC Goes To One Million Dollars^TM interpretation was motivated by pure greed, defies financial/legal reality, and cost many people their opportunity for a 105% refund.

[Gleb Gamow]

Lying requires intent.  There is no way Simon intended to lie, because on August 9, 2013 he did not know BTC would suddenly explode in value, making full BTC refunds impossible.  Are you saying Simon is psychic, or controls the price of BTC?  Do you know how crazy that sounds?

Simon is no idiot. Of course he knew it was possible for bitcoin to skyrocket. He knew full well that the price of bitcoin could go up, making BTC refunds impossible. Promising full BTC refunds was therefore a lie.

It was also possible for BTC to collapse.  So what?  In early August 2013 BTC had stabilized at around $100.

Common sense (and any competent lawyer/law school student) should tell you that statement was made ceterus paribus.  Don't speak Latin?  Look it up!

The ridiculous No Matter What Even If BTC Goes To One Million Dollars^TM interpretation was motivated by pure greed, defies financial/legal reality, and cost many people their opportunity for a 105% refund.

I'm curious as to how a 105% refund would've work out to everybody who'd requested one, in this case, everybody, after expenses to date (at the time) were already outlaid. According to my maths, even a 25% refund would've been impossible, but I'm part to blame as to why many/all didn't get a 105% when the offer was on the table.

[Syke]

It was also possible for BTC to collapse.  So what?

In which case they would provide BTC refunds. Simon promised BTC refunds, when he really meant "We'll give you the smallest refund possible. If bitcoin goes down, we'll provide BTC refunds, if bitcoin goes up, we'll provide USD refunds."

[iCEBREAKER]

It was also possible for BTC to collapse.  So what?

In which case they would provide BTC refunds. Simon promised BTC refunds, when he really meant "We'll give you the smallest refund possible. If bitcoin goes down, we'll provide BTC refunds, if bitcoin goes up, we'll provide USD refunds."

Wrong again.  Mail order refunds must be in legal tender, and must be (at least) equal to the purchase price of the item.  HF machines were always priced in USD fiat.

HF would have never been allowed to refund pennies on the dollar, for THE EXACT SAME REASONS they would never be required to hand out windfalls (dollars on the penny).

You are very confused about the basics of contract law.  What HF owed (past tense, thanks to bankruptcy now we get scraps) for refunds is equal to the amount tendered at the time of purchase.

This was all covered exhaustively in HF's devastating response to Prof Morici's absurd windfall demand.

It's great reading and very educational.  Perhaps dumb old cedivad will be so kind as to provide a link for us?  I may have the .pdf around somewhere if not.

If you really were honestly confused about all this, and not just playing dumb to troll or get a windfall, I'm sorry.  But many people have already explained it in detail.