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Author Topic: HashFast announces specs for new ASIC: 400GH/s  (Read 880223 times)
cedivad
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September 26, 2014, 08:35:42 AM
 #10801

http://en.wikipedia.org/wiki/Ponzi_scheme

"just spread the world", via a referring link.

My anger against what is wrong in the Bitcoin community is productive:
Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)
Hashfast.org - Wiki for screwed customers
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September 26, 2014, 08:41:46 AM
 #10802

http://en.wikipedia.org/wiki/Ponzi_scheme

"just spread the world", via a referring link.

You may well be right, but so far I have 1/4 of my investment back, a lot of people on various chat forums are saying positive things about Chris and his FPGA developments and recent advances in Cloud Mining. I was therefore willing to take the risk on a 1600 M/hs package for $850 ... It may turn out to be a scam but so far so good. anyway just wanted to let a few people know about it as it may offset some off if the Scamfast losses which is what I am trying to do. 😄

I am not trying to hide the fact that I am an affiliate and if you want to throw a few $ my way for referring the site to you, that is purely up to you. No pressure just letting people know about it. You can make your own minds up about them. I gave it a shot anyway.

LTCgear.com Review http://ltcgear.co.ukhttp://ltcgear.com/?apage=120 - 160mh/s for $850 use coupon code "anniversary1yr" - Active Multi Algorithm cloud mining in Scrypt, X11 and Scrypt-N - ROI in 5 Weeks
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September 26, 2014, 08:44:05 AM
 #10803

Sure, you might as well get out before the scheme collapses.

My anger against what is wrong in the Bitcoin community is productive:
Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)
Hashfast.org - Wiki for screwed customers
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September 26, 2014, 08:49:04 AM
 #10804

Sure, you might as well get out before the scheme collapses.

Thanks for the advice but I have a good feeling about this one.... I am going to see how it pans out. If I lose then I lose, and will accept that I took the risk. But as I said a lot of people on Litecoin talk and Hashtalk are all very encouraged by their investments so far. Chris (Beekeeper) appears to have a very good reputation on Litecointalk.

LTCgear.com Review http://ltcgear.co.ukhttp://ltcgear.com/?apage=120 - 160mh/s for $850 use coupon code "anniversary1yr" - Active Multi Algorithm cloud mining in Scrypt, X11 and Scrypt-N - ROI in 5 Weeks
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September 26, 2014, 03:06:51 PM
 #10805

Any chance someone could TL;DR where we are? I went back pages and pages and most of it is off topic garbage that has nothing to do with HF and the court case. Is there anything we, the creditors, need to do (besides filing the claim a while ago)? Is there any expected time frame on how much longer this court case will draw out?

Tips / Donations accepted: 1Morb18DsDHNEv6TeQXBdba872ZSpiK9fY
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September 26, 2014, 03:30:11 PM
 #10806

Any chance someone could TL;DR where we are? I went back pages and pages and most of it is off topic garbage that has nothing to do with HF and the court case. Is there anything we, the creditors, need to do (besides filing the claim a while ago)? Is there any expected time frame on how much longer this court case will draw out?

this!

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September 26, 2014, 03:47:28 PM
 #10807

Is there any expected time frame on how much longer this court case will draw out?
I've recently meet someone (completely unrelated) that keeps repeating "As long as necessary".
Anyway no, not even filing the claim is required, if you don't disagree with their schedules.

My anger against what is wrong in the Bitcoin community is productive:
Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)
Hashfast.org - Wiki for screwed customers
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September 29, 2014, 07:06:11 AM
 #10808

http://en.wikipedia.org/wiki/Ponzi_scheme

"just spread the world", via a referring link.

You may well be right, but so far I have 1/4 of my investment back, a lot of people on various chat forums are saying positive things about Chris and his FPGA developments and recent advances in Cloud Mining. I was therefore willing to take the risk on a 1600 M/hs package for $850 ... It may turn out to be a scam but so far so good. anyway just wanted to let a few people know about it as it may offset some off if the Scamfast losses which is what I am trying to do. 😄

I am not trying to hide the fact that I am an affiliate and if you want to throw a few $ my way for referring the site to you, that is purely up to you. No pressure just letting people know about it. You can make your own minds up about them. I gave it a shot anyway.
This is too hilarious.  Reminds me of those scams that call up previous scam victims and offer to get their money back for a fee.  This is offering previous victims of non delivery scams a way to get their money back with this new fangled much better cloud mining scam.  Good luck to you all.

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September 29, 2014, 07:18:23 AM
 #10809

From the FTC's filing yesterday, called "Plaintiff's Reply Suggestions of Points and Authorities in Support of Motion for Preliminary Injunction and Other Equitable Relief:

"After filing this action, the FTC discovered that when Defendants finally manufactured products, they first used them to mine Bitcoins for themselves under the guise of testing--a process that [is] referred to as 'burning in.'  Former employees and Mr. Zerlan, admitted that Defendants mined Bitcoins with customer equipment.  Defendants likely mined for themselves on each and every machine before they were shipped to consumers.  one former employee stated that Defendants would run up to 500 Bitcoin mining machines in three separate 'burn-in' rooms at the same time.  Another former employee testified that some machines were 'burned in' for up to two days, even though testing usually required only 10 to 30 minutes, and that Defendants generally did not ship out machines until they had manufactured machines to be burned in in their place.

Defendants not only engaged in this practice despite repeated and public denials, but kept the Bitcoins they generated for themselves.  Moreover, Defendants did not need to mine with customer equipment in order to test it.  A 'test-net' exists, which enables machines to be tested without being used to mine.  In fact, one employee inquired with company management as to why they chose to test by mining rather than using the test-net and was told that the company would not make any money using a test-net."

The first batch of BJ was sent with the private key of the supposedly mined bitcoins... But what about every other batch?

My anger against what is wrong in the Bitcoin community is productive:
Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)
Hashfast.org - Wiki for screwed customers
iCEBREAKER
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September 29, 2014, 09:26:25 AM
 #10810

The first batch of BJ was sent with the private key of the supposedly mined bitcoins... But what about every other batch?

"Supposedly?"  Anyone can tell those freshly-mined coins came straight from Eligius.

If there was evidence HF broke the law, they would be in Chapter 7, not Chapter 11.

However, the latest motion (to appoint Chapter 11 trustee, or convert to Chapter 7) was DENIED:  https://cases.processgeneral.com/cases/document/case/5/hashfast-technologies-llc/120689/

Re: http://hashfast.org/14-30725.198.mp3  (Sept 10 Court Hearing)

In the latest hearing, at 42:40 in the mp3, Judge Montali asks Ms. Glosson POINT BLANK if she has any evidence of HF misbehaving.  She stammers and falters, while her 'deer in the headlights' look comes across very clearly even on the audio.  Ms. Glosson is caught empty handed and attempts to prevaricate.  The Judge proceeds to shred her faulty logic, to the amusement of everyone in the court (except her).

At 44:23, Judge Montali asks for the SECOND time "What did Mr. Barber do that's so horrible?"

At 44:38, Judge Montali asks a THIRD time "is there evidence of fraud or dishonesty?"  Instead of answering this pointed question with a direct yes or no, Glosson stutters, balks, and dissembles into some hasty, ill-conceived prattle - which the judge succinctly dissects and demolishes.   Smiley

At 45:02, His Honor asks Ms. Glosson for the FOURTH time "what did Mr. Barber do which might arguably constitute incompetence or gross mismanagement?"  Yet again, the US Attorney cannot answer the question to the judge's satisfaction, instead responding with unconvincingly asinine circular logic.

To summarize: when pressed for evidence, instead of offering proof HF did anything wrong, Glosson proffers up BS that the judge at one point literally LAUGHS AT (50:29).  You can tell he felt bad about gently deriding and embarrassing her in front of the entire court, because later in the hearing he tries to make up for it by stroking her with little compliments.

If a US Attorney acting on behalf of the creditors' committee cannot even demonstrate gross mismanagement or incompetence, good luck proving dishonesty or fraud! 

tl;dr - You got nothing, punk.   Kiss


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Monero
"The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." 
David Chaum 1996
"Fungibility provides privacy as a side effect."  Adam Back 2014
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cedivad
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September 29, 2014, 12:05:08 PM
Last edit: September 29, 2014, 03:26:22 PM by cedivad
 #10811

You came back from the tomb to send your love for my post, Ralph. I appreciate that.

Recently published in the BFL case:
http://ia902308.us.archive.org/32/items/gov.uscourts.mowd.117531/gov.uscourts.mowd.117531.42.7.pdf

Quote
[11/6/2013 11:09:03 AM] Sonny: That leaves only us, hashfast & cointerra with top
tier technology.  Cointerra may not even make it to market.
[11/6/2013 11:09:13 AM] Sonny: HashFast is having big troubles.
[11/6/2013 11:09:17 AM] Sonny: That leaves Butterfly.
[11/6/2013 11:09:27 AM] Sonny: (in an ideal scenario)
[11/6/2013 11:09:38 AM] Nasser Ghoseiri: HashFast problem is only their packaging
[11/6/2013 11:09:58 AM] Josh Zerlan: Except, we don't even know if we've taped out
yet :p

[11/19/2013 5:21:32 PM] Dave "The Knife"  McClain: Much like how Greg had to find
out that HashFast was going to be late via the forums.

I can't wait to see pictures of HF's version of their private private datacenter (BFL's one is sooo tiny):



Remember the revision stickers that endured different times at the sun?

Quote
[6/9/2014 10:15:33 PM] Josh Zerlan: Can we please start shipping/double shipping
tomorrow or at least star the process?  We can't wait any longer.  Time is up.
[6/9/2014 10:15:44 PM] Josh Zerlan: If we have a board version that will hash, we
need to ship it.
[6/9/2014 10:30:52 PM] Josh Zerlan: http://imgur.com/mQaapYY

My anger against what is wrong in the Bitcoin community is productive:
Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)
Hashfast.org - Wiki for screwed customers
iCEBREAKER
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September 29, 2014, 07:43:34 PM
 #10812

I can't wait to see pictures of HF's version of their private private datacenter (BFL's one is sooo tiny):

You'll be waiting a long time.   Cheesy

HF never had a datacenter.  If they did, the bills for it would be in the court records.

Units were shipped out ASAP.  The records from CIARA and Sonic prove it.  Posting off-topic stuff about BFL won't change that.

Why isn't your legendary lawyer in court providing evidence of these nefarious conspiracies you dream up?

You spent months blustering about how easy it would be for your lawyer to prove this and 'get them' on that...

Now that it's crunch time and HF is having its day in court, you do nothing?


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Monero
"The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." 
David Chaum 1996
"Fungibility provides privacy as a side effect."  Adam Back 2014
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September 30, 2014, 09:32:11 AM
 #10813

I can't wait to see pictures of HF's version of their private private datacenter (BFL's one is sooo tiny):

You'll be waiting a long time.   Cheesy

HF never had a datacenter.  If they did, the bills for it would be in the court records.

Units were shipped out ASAP.  The records from CIARA and Sonic prove it.  Posting off-topic stuff about BFL won't change that.

Why isn't your legendary lawyer in court providing evidence of these nefarious conspiracies you dream up?

You spent months blustering about how easy it would be for your lawyer to prove this and 'get them' on that...

Now that it's crunch time and HF is having its day in court, you do nothing?

Your defense of HF is beyond absurd.  While I don't believe they mined with our equipment (simply because they didn't produce enough), that does not make them honest.  It is NOT a case of a simple cutting edge technology development that failed.  HF acted with contempt for their "clients", treating them more like "marks" in a con.  They repeatedly and knowingly lied.  They stole and cheated.  They used funds (including BTCs)  for as of yet unexplained reasons.  

My guess would be that Eduardo's house burning down was no accident, but a warning from people he owed money to, either for drugs or gambling debts.  Scared, he took the BTCs from the company to pay off his debts.  After that, HF went to shit and he kept on trying to cover his mess with more lies and false representations.  Simon and Eduardo both deserve hard time.  I would through in some members of the so-called "creditor's council" in the lot for their obvious conflict of interests and unethical, illegal manoeuvres.
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September 30, 2014, 09:49:21 AM
 #10814

Your defence of HF is beyond absurd.  While I don't believe they mined with our equipment (simply because they didn't produce enough), that does not make them honest.  It is NOT a case of a simple cutting edge technology development that failed.  HF acted with contempt for their "clients", treating them more like "marks" in a con.  They repeatedly and knowingly lied.  They stole and cheated.  They used funds (including BTCs)  for as of yet unexplained reasons.  

My guess would be that Eduardo's house burning down was no accident, but a warning from people he owed money to, either for drugs or gambling debts.  Scared, he took the BTCs from the company to pay off his debts.  After that, HF went to shit and he kept on trying to cover his mess with more lies and false representations.  Simon and Eduardo both deserve hard time.  I would through in some members of the so-called "creditor's council" in the lot for their obvious conflict of interests and unethical, illegal manoeuvres.

Your conspiracy theories are exceedingly farcical.  At least you're not as crazy as Davide, who still clings to the fantasy of HF self-mining.

Where is the evidence HF "repeatedly and knowingly lied/stole and cheated/used funds for as of yet unexplained reasons?"

Why isn't the US Attorney (or District Attorney) making these allegations?  Why didn't she present evidence of their truth to the Judge, when repeatedly asked point blank if it exists?

Like new restaurants, most high-tech start-ups fail.  That's just the way the world works.  Sorry to disappoint your desire for more sensational drama!  Go watch Breaking Bad again if you need to get your adrenaline kick so desperately.  Or check out the Altcoin sub...


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Monero
"The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." 
David Chaum 1996
"Fungibility provides privacy as a side effect."  Adam Back 2014
Buy and sell XMR near you
P2P Exchange Network
Buy XMR with fiat
Is Dash a scam?
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September 30, 2014, 10:17:39 AM
 #10815

Your defence of HF is beyond absurd.  While I don't believe they mined with our equipment (simply because they didn't produce enough), that does not make them honest.  It is NOT a case of a simple cutting edge technology development that failed.  HF acted with contempt for their "clients", treating them more like "marks" in a con.  They repeatedly and knowingly lied.  They stole and cheated.  They used funds (including BTCs)  for as of yet unexplained reasons.  

My guess would be that Eduardo's house burning down was no accident, but a warning from people he owed money to, either for drugs or gambling debts.  Scared, he took the BTCs from the company to pay off his debts.  After that, HF went to shit and he kept on trying to cover his mess with more lies and false representations.  Simon and Eduardo both deserve hard time.  I would through in some members of the so-called "creditor's council" in the lot for their obvious conflict of interests and unethical, illegal manoeuvres.

Your conspiracy theories are exceedingly farcical.  At least you're not as crazy as Davide, who still clings to the fantasy of HF self-mining.

Where is the evidence HF "repeatedly and knowingly lied/stole and cheated/used funds for as of yet unexplained reasons?"

Why isn't the US Attorney (or District Attorney) making these allegations?  Why didn't she present evidence of their truth to the Judge, when repeatedly asked point blank if it exists?

Like new restaurants, most high-tech start-ups fail.  That's just the way the world works.  Sorry to disappoint your desire for more sensational drama!  Go watch Breaking Bad again if you need to get your adrenaline kick so desperately.  Or check out the Altcoin sub...

Actually, my conspiracy theories are not farcical.  They are rooted in facts and evidence.  Contrarily to you, I have spent a substantial amount of time researching and talking to "clients", both very large and small.  I have even spoken with Simon and Eduardo, with Victor (the CRO) and with Monica. I have read most available testimonies and filings.  I have retained legal counsel like so many here.  I am patient.  So is the legal system. Believe me, I am not known for my sense of humour. "Why hasn't the US attorney or District Attorney made these allegations"... yet?  Your understanding of the legal system is obviously limited.  Just as is the speed at which it moves.  Yet, some of us are building the case and going through the necessary steps to help the authorities.  The liquidation/bankruptcy is only one step, unrelated to criminal procedures.

You keep repeating the "this was a new High-tech Start-up, most fail, HF is just one of them, you should have known better, stop crying" argument like a mantra.  You are either blind or in complete bad faith or you just get a kick out of annoying victims.  Either way, your crass "analysis" of the situation is insulting.





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September 30, 2014, 10:47:17 AM
 #10816

Actually, my conspiracy theories are not farcical.  They are rooted in facts and evidence.  Contrarily to you, I have spent a substantial amount of time researching and talking to "clients", both very large and small.  I have even spoken with Simon and Eduardo, with Victor (the CRO) and with Monica. I have read most available testimonies and filings.  I have retained legal counsel like so many here.  I am patient.  So is the legal system. Believe me, I am not known for my sense of humour. "Why hasn't the US attorney or District Attorney made these allegations"... yet?  Your understanding of the legal system is obviously limited.  Just as is the speed at which it moves.  Yet, some of us are building the case and going through the necessary steps to help the authorities.  The liquidation/bankruptcy is only one step, unrelated to criminal procedures.

You keep repeating the "this was a new High-tech Start-up, most fail, HF is just one of them, you should have known better, stop crying" argument like a mantra.  You are either blind or in complete bad faith or you just get a kick out of annoying victims.  Either way, your crass "analysis" of the situation is insulting.

Are you claiming that HF is not a high-tech start-up?  Or are you claiming that most high-tech start-ups do not fail?  Or both?

Extraordinary claims require extraordinary evidence.  So far you have provided the first but not the second.  That's insulting to anyone possessing intelligence (although forgivable because of your outlandish imaginings' entertainment value).

My understanding of the legal system dwarfs your own.  For example, everyone else paying attention knows HF would not have been able to successfully resist both attempts to force them into Chapter 7 if there was anything amiss.  Your clumsy, vague understanding of the relation between bankruptcy and criminal proceedings fails to comprehend that even alleged criminality supervenes upon bankruptcy.

Nobody cares how humorless and patient you may be.  The point is that if the SF DA or anyone else was investigating HF, we would have heard about it and they'd be in Chapter 7, not continuing to manage their own affairs under Chapter 11, sans Trustee.

Blather cliches about "speed" all you like.  Zero is the absence of speed, and also the number of criminal acts HF has been accused of in court, where it counts.

Put up or shut up.  Save the historical fiction for your creative writing class.


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Monero
"The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." 
David Chaum 1996
"Fungibility provides privacy as a side effect."  Adam Back 2014
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mikelitv
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September 30, 2014, 10:54:22 AM
 #10817


My understanding of the legal system dwarfs your own. 


ROFL.  Now you are indeed amusing.

As for put or shut up, Put up I shall.  In the right forum.  This is not it.

jimmothy
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September 30, 2014, 11:03:03 AM
 #10818

It's a bit ironic that the only fanatic supporter of hashfast, who dedicated countless hours/days/months of his time advertising/spamming hashfast products, is now the only avid defender of hashfasts epic failure fraud. It's quite clear ulterior motives are involved.

Icebreaker I've got a serious question for you:

How can you have absolutely no shame? I'd love to know how one can go about being such a massive fuckup, cost several victims thousands of dollars, and feel good about it.

Whether you care to admit it, you are likely responsible for several thousand dollars worth of sales from your several month long advertisement campaign.

Regardless of your twisted agenda driven opinion, hashfast did act fraudulently. There is no other way to explain how a company could lose $50 million when production costs should have been no more than $5m. (and before you bring up NRE, it was paid for before taking in preorders)

You are responsible for several thousand dollars in losses yet you come here daily to berate the victims of your own ineptitude. Quite disgraceful if you ask me.
cedivad
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September 30, 2014, 12:16:06 PM
Last edit: September 30, 2014, 12:27:20 PM by cedivad
 #10819

Guys, don't feed the troll. Let him roast with our BTC. Once that this story is over and he will be either in jail or here changing arguments yet another time we will have time for the last laugh.

At least you're not as crazy as Davide, who still clings to the fantasy of HF self-mining.
It took you only one year to get my name right.

Like new restaurants, most high-tech start-ups fail.
Restaurants with $20M in preorders and $15M+ in debt. Or "startups" with the same finances. That didn't fail to make profit, but to deliver afterwards...

You see? It's worse than talking to a wall. Let's let the wall echo itself.

My anger against what is wrong in the Bitcoin community is productive:
Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)
Hashfast.org - Wiki for screwed customers
iCEBREAKER
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Crypto is the separation of Power and State.


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September 30, 2014, 12:39:42 PM
 #10820

It's a bit ironic that the only fanatic supporter of hashfast, who dedicated countless hours/days/months of his time advertising/spamming hashfast products, is now the only avid defender of hashfasts epic failure fraud. It's quite clear ulterior motives are involved.

Icebreaker I've got a serious question for you:

How can you have absolutely no shame? I'd love to know how one can go about being such a massive fuckup, cost several victims thousands of dollars, and feel good about it.

Whether you care to admit it, you are likely responsible for several thousand dollars worth of sales from your several month long advertisement campaign.

Regardless of your twisted agenda driven opinion, hashfast did act fraudulently. There is no other way to explain how a company could lose $50 million when production costs should have been no more than $5m. (and before you bring up NRE, it was paid for before taking in preorders)

You are responsible for several thousand dollars in losses yet you come here daily to berate the victims of your own ineptitude. Quite disgraceful if you ask me.

"Countless months?"  "Come here daily?"  If you have to exaggerate the facts, it's usually because your underlying point is weak.   Roll Eyes

If HF "did act fraudulently" there must be some evidence.  However, when repeatedly and directly asked to provide proof the US Attorney did not offer any.  Was Ms. Glosson lying to the judge?  Is she also part of mikelitv's feverish conspiracy theory?  Maybe she's the one who stole the $50MM...!   Shocked

This paradigm of 'business failure and bankruptcy are shameful' is based on silly Puritan logic.  IE, God must be angry at you for sinning and that's why He didn't Bless your risky high-tech venture with success.  It's the same asinine concept as conflating poverty with poor character.

In the real world, companies fail and go through bankruptcy all the time.  Not every company is BFL.

I'm berating the windfall-seekers and conspiracy theorists.  They deserve it.  Losing money by gambling on Bitcoin ASICs is not a valid excuse for A) ignoring contract law to justify greed or B) making up zany defamatory nonsense about drug-dealing self-mining arsonist bookies.

HF made the worlds fastest ASIC and almost recovered from their early mistakes.  Throwing a tantrum and screaming 'it was a scam all along' is reprehensible and I am not afraid to condemn such behavior.  What happens if you go to a casino and only start shouting "OMG IT'S A SCAM" *after* you lose at the craps table?  Will anyone feel sorry for you?  Or will the security guards help you find an exit?


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Monero
"The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." 
David Chaum 1996
"Fungibility provides privacy as a side effect."  Adam Back 2014
Buy and sell XMR near you
P2P Exchange Network
Buy XMR with fiat
Is Dash a scam?
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