HashFast announces specs for new ASIC: 400GH/s

[perezoso]

Wow, haven't been around here in a while.  I see my question, regarding the auction of claims against Simon Barber, has been answered.  

I just hope that whoever buys the asset will be transparent and let us all break out the popcorn and enjoy watching the process of trying to extract cash from the bastard.

What are Eddie, Scrotum, and Long Dong up to these days?

You few who repeatedly complain about the initial bankruptcy filing, claiming it was the wrong thing to do, well, your complaint is based on a false premise.  That premise being that the company was prepared and capable of fixing itself while meeting its outstanding obligations to customers.  However this bankruptcy ends up, and it isn't going well for anybody (since HF spent money like Pablo Escobar), I think it is absolutely clear that the company was not going to do right to its customers, and those customers (including me) were quite reasonably acting within their rights to try to go in and fix it / or salvage.  Turned out to be salvage since, as already mentioned, the irresponsible management had already blown through all the money without  meeting obligations.

[1714499327]

1714499327

[1714499327]

1714499327

[armyof1ne]

Wow, haven't been around here in a while.  I see my question, regarding the auction of claims against Simon Barber, has been answered.  

I just hope that whoever buys the asset will be transparent and let us all break out the popcorn and enjoy watching the process of trying to extract cash from the bastard.

What are Eddie, Scrotum, and Long Dong up to these days?

You few who repeatedly complain about the initial bankruptcy filing, claiming it was the wrong thing to do, well, your complaint is based on a false premise.  That premise being that the company was prepared and capable of fixing itself while meeting its outstanding obligations to customers.  However this bankruptcy ends up, and it isn't going well for anybody (since HF spent money like Pablo Escobar), I think it is absolutely clear that the company was not going to do right to its customers, and those customers (including me) were quite reasonably acting within their rights to try to go in and fix it / or salvage.  Turned out to be salvage since, as already mentioned, the irresponsible management had already blown through all the money without  meeting obligations.

the dumbass "Liquidation was the only way to get our money back, and it will work because i have friends that work in the law field and they say so" guy.... Lord have mercy... its nice to have these drastic ranges of IQ's on here... thanks for being my wingman.

Actually that is not the premise i took, im sorry you are too naive to see that, or acknowledge that after repeated bashing... or just incapable of understanding that people with a whole shitton of money were going to try to buy out the company and get a whole new crew in there, Anybody with any knowledge of bitcoin would have known the real money is in chip design for asics, sure mining can be good, but look at everyone here, how many millions did they get out of us? tell me how many millions the average miner gets?... the fact that you still ignorantly hold on to the notion that it was the right course of action proves you have no understanding whatsover of the legal system and how long these things take, i am sorry that you feel you were correct in filing, it was a bad move. if there was even the slimmest chance of recourse, that has been utterly destroyed by the fiasco this has become, started by a group of greedy ignorant people listening to a lawyer, guess what his occupation is, oh snap...  petition for liquidation, on what fucking planet did you ever think that would work? do you know the odds? 1 in a million? 1 in a trillion?
Tell me the odds of everyone having their refunds back with a few hundred million sitting with new people in place, 1 in 5 chances, 1 in 3? once you start working with numbers, its a lot easier. its a shame there wasn't anyone on "the council" of people trying to force that, i wish i had been, either way you look at it, you fucked up.

https://www.youtube.com/watch?v=OGp9P6QvMjY

[Flying Hellfish]

Wow, haven't been around here in a while.  I see my question, regarding the auction of claims against Simon Barber, has been answered.  

I just hope that whoever buys the asset will be transparent and let us all break out the popcorn and enjoy watching the process of trying to extract cash from the bastard.

What are Eddie, Scrotum, and Long Dong up to these days?

You few who repeatedly complain about the initial bankruptcy filing, claiming it was the wrong thing to do, well, your complaint is based on a false premise.  That premise being that the company was prepared and capable of fixing itself while meeting its outstanding obligations to customers.  However this bankruptcy ends up, and it isn't going well for anybody (since HF spent money like Pablo Escobar), I think it is absolutely clear that the company was not going to do right to its customers, and those customers (including me) were quite reasonably acting within their rights to try to go in and fix it / or salvage.  Turned out to be salvage since, as already mentioned, the irresponsible management had already blown through all the money without  meeting obligations.

Reportedly they are both (Eddie and Simon) still working for HF and collecting paltry 6 figure salaries!  I guess once Simon got back from his month long over seas vacation he was so recharged and eager to right this ship that it made sense to keep paying him LOL

[ninjarobot]

FYI: http://arstechnica.com/tech-policy/2014/11/its-all-over-bitcoin-miner-maker-hashfast-to-auction-remaining-assets/

[starsoccer9]

FYI: http://arstechnica.com/tech-policy/2014/11/its-all-over-bitcoin-miner-maker-hashfast-to-auction-remaining-assets/

yes I saw that. I am waiting for my 500 penny refund to roll around in.

[Melbustus]

FYI: http://arstechnica.com/tech-policy/2014/11/its-all-over-bitcoin-miner-maker-hashfast-to-auction-remaining-assets/

Does this mean I won't be getting my MPP?

[SolarSilver]

FYI: http://arstechnica.com/tech-policy/2014/11/its-all-over-bitcoin-miner-maker-hashfast-to-auction-remaining-assets/

Does this mean I won't be getting my MPP?

What MPP?

It's obvious there was never any MPP from the start, except for a pyramid scheme promising MPP based on new incoming orders (thus screwing over new customers by increasing difficulty even more)

There were never any provisions or stock to delivery any kind of MPP, heck, they had a hard time even fulfilling those base orders, let alone ship out MPP units or even the chips for the MPP.

Does the MPP count as a claim in court? Can one claim for each BBJet one got, one is missing 4 extra units? I don't think so

[dropt]

What MPP?

It's obvious there was never any MPP from the start, except for a pyramid scheme promising MPP based on new incoming orders (thus screwing over new customers by increasing difficulty even more)

There were never any provisions or stock to delivery any kind of MPP, heck, they had a hard time even fulfilling those base orders, let alone ship out MPP units or even the chips for the MPP.

Does the MPP count as a claim in court? Can one claim for each BBJet one got, one is missing 4 extra units? I don't think so

MPP was never mentioned in the ToS either, a point of contention I had when speaking with Eduardo about placing an order in Aug '13

[smoothie]

I don't believe for a second that piles of the fastest 28nm Bitcoin ASIC ever made sat around collecting dust until they're worthless.

Believe it or not, that's exactly what happened and is still happening, thanks to the monumentally ill-advised and self-defeating move of getting courts and lawyers involved.  Some chips are being held hostage by Uniquify/Signetics, with many still in wafers. 

As many predicted, the creditor committee has been about as effective as a car with five steering wheels.   

You should look at monumental scams in the financial sector (watch American greed as a resource).

One of the perpetrators' main excuses of not being successful is because the authorities were gotten involved just at the "wrong moment" when the supposed legitimate business was about to deliver to their customer what was promised.

Most of them operated as a ponzi robbing Peter to pay Paul. Hashfast is no different.

[Melbustus]

FYI: http://arstechnica.com/tech-policy/2014/11/its-all-over-bitcoin-miner-maker-hashfast-to-auction-remaining-assets/

Does this mean I won't be getting my MPP?

What MPP?

It's obvious there was never any MPP from the start, except for a pyramid scheme promising MPP based on new incoming orders (thus screwing over new customers by increasing difficulty even more)

There were never any provisions or stock to delivery any kind of MPP, heck, they had a hard time even fulfilling those base orders, let alone ship out MPP units or even the chips for the MPP.

Does the MPP count as a claim in court? Can one claim for each BBJet one got, one is missing 4 extra units? I don't think so

Yeah. That's what pissed me off the most. The only reason I bought was because of the MPP as hashrate "insurance". It's ok, though - if the hashrate were to freeze today, it'd only take me another 28.6 years to recoup what I paid (I just did the math) (before electricity costs).

I should've remembered the first rule of bitcoin back in August 2013: "If you're thinking about buying a miner, just buy the bitcoin directly instead."

[RoadStress]

You should look at monumental scams in the financial sector (watch American greed as a resource).

One of the perpetrators' main excuses of not being successful is because the authorities were gotten involved just at the "wrong moment" when the supposed legitimate business was about to deliver to their customer what was promised.

Most of them operated as a ponzi robbing Peter to pay Paul. Hashfast is no different.

First thing that comes in mind these days is http://www.rollingstone.com/politics/news/the-9-billion-witness-20141106

Yeah. That's what pissed me off the most. The only reason I bought was because of the MPP as hashrate "insurance". It's ok, though - if the hashrate were to freeze today, it'd only take me another 28.6 years to recoup what I paid (I just did the math) (before electricity costs).

I would've joined for the full BTC refunds in case of missed deadline. Screw MPP! Good luck I didn't buy it.

[perezoso]

the dumbass "Liquidation was the only way to get our money back, and it will work because i have friends that work in the law field and they say so" guy.... Lord have mercy... its nice to have these drastic ranges of IQ's on here... thanks for being my wingman.

Actually that is not the premise i took, im sorry you are too naive to see that, or acknowledge that after repeated bashing... or just incapable of understanding that people with a whole shitton of money were going to try to buy out the company and get a whole new crew in there, Anybody with any knowledge of bitcoin would have known the real money is in chip design for asics, sure mining can be good, but look at everyone here, how many millions did they get out of us? tell me how many millions the average miner gets?... the fact that you still ignorantly hold on to the notion that it was the right course of action proves you have no understanding whatsover of the legal system and how long these things take, i am sorry that you feel you were correct in filing, it was a bad move. if there was even the slimmest chance of recourse, that has been utterly destroyed by the fiasco this has become, started by a group of greedy ignorant people listening to a lawyer, guess what his occupation is, oh snap...  petition for liquidation, on what fucking planet did you ever think that would work? do you know the odds? 1 in a million? 1 in a trillion?
Tell me the odds of everyone having their refunds back with a few hundred million sitting with new people in place, 1 in 5 chances, 1 in 3? once you start working with numbers, its a lot easier. its a shame there wasn't anyone on "the council" of people trying to force that, i wish i had been, either way you look at it, you fucked up.

https://www.youtube.com/watch?v=OGp9P6QvMjY

Dear God, ArmyofIdiot, do you hate much?  Go take a deep breath. 

By the way, I've never said anything like "Liquidation was the only way to get our money back, and it will work because i have friends that work in the law field and they say so".  Don't know whose ass you pulled that out of.

[notbatman]

I'm solo-mining with my block erupters while I wait patiently for my miner to arrive, I keep hope alive. 

[iCEBREAKER]

Wow, haven't been around here in a while.  I see my question, regarding the auction of claims against Simon Barber, has been answered.  

I just hope that whoever buys the asset will be transparent and let us all break out the popcorn and enjoy watching the process of trying to extract cash from the bastard.

You few who repeatedly complain about the initial bankruptcy filing, claiming it was the wrong thing to do, well, your complaint is based on a false premise.  That premise being that the company was prepared and capable of fixing itself while meeting its outstanding obligations to customers.  However this bankruptcy ends up, and it isn't going well for anybody (since HF spent money like Pablo Escobar), I think it is absolutely clear that the company was not going to do right to its customers, and those customers (including me) were quite reasonably acting within their rights to try to go in and fix it / or salvage.  Turned out to be salvage since, as already mentioned, the irresponsible management had already blown through all the money without  meeting obligations.

 the dumbass "Liquidation was the only way to get our money back, and it will work because i have friends that work in the law field and they say so" guy.... Lord have mercy... its nice to have these drastic ranges of IQ's on here... thanks for being my wingman.

Actually that is not the premise i took, im sorry you are too naive to see that, or acknowledge that after repeated bashing... or just incapable of understanding that people with a whole shitton of money were going to try to buy out the company and get a whole new crew in there, Anybody with any knowledge of bitcoin would have known the real money is in chip design for asics, sure mining can be good, but look at everyone here, how many millions did they get out of us? tell me how many millions the average miner gets?...

the fact that you still ignorantly hold on to the notion that it was the right course of action proves you have no understanding whatsover of the legal system and how long these things take, i am sorry that you feel you were correct in filing, it was a bad move. if there was even the slimmest chance of recourse, that has been utterly destroyed by the fiasco this has become, started by a group of greedy ignorant people listening to a lawyer, guess what his occupation is, oh snap...  petition for liquidation, on what fucking planet did you ever think that would work? do you know the odds? 1 in a million? 1 in a trillion?

Tell me the odds of everyone having their refunds back with a few hundred million sitting with new people in place, 1 in 5 chances, 1 in 3? once you start working with numbers, its a lot easier. its a shame there wasn't anyone on "the council" of people trying to force that, i wish i had been, either way you look at it, you fucked up.

The premise that legal action would inevitably result in only lawyers getting paid has been demonstrated to be true.

armyof1ne is correct, there was at least a 20% to 33% chance of us getting something rather than nothing if HF had been allowed to recapitalize and reorganize.  Their existing design was a generation ahead of everyone else except Cointerra, and their next gen 16nm 3d FinFET chip would have destroyed the competition.

Congratulations to all you litigious lawsuit-happy laughingstocks!  Cutting off your noses to spite your faces sure was a great strategy!   

"Yes, somebody could buy claims against Barber. I’m not sure those have any value though."  -Ray 'I'll fight for your windfall' Gallo

[Jutarul]

...

...
armyof1ne is correct, there was at least a 20% to 33% chance of us getting something rather than nothing if HF had been allowed to recapitalize and reorganize.  Their existing design was a generation ahead of everyone else except Cointerra, and their next gen 16nm 3d FinFET chip would have destroyed the competition.

Try to put a price tag on removing a bad actor from the mining industry and discouraging other players to follow step. There was never an indication that HashFast would turn around and stop abusing the market. In fact the opposite is true. Old HF customers may get less or close to nothing for their contracts and orders, but overall this should be considered a healthy outcome because it prevents the company from destroying wealth of future miners.

You can start a poll and ask people if they'd rather get 5 cents on a dollar or see their abuser brought to justice.

What lawyers, especially those on contingency, seem to not understand is that legal action is not a business tool. It is a vehicle for stopping abuse. However, in an environment in which the rule of law is increasingly abandoned this confusion is understandable.

[iCEBREAKER]

Try to put a price tag on removing a bad actor from the mining industry and discouraging other players to follow step. There was never an indication that HashFast would turn around and stop abusing the market. In fact the opposite is true. Old HF customers may get less or close to nothing for their contracts and orders, but overall this should be considered a healthy outcome because it prevents the company from destroying wealth of future miners.

You can start a poll and ask people if they'd rather get 5 cents on a dollar or see their abuser brought to justice.

What lawyers, especially those on contingency, seem to not understand is that legal action is not a business tool. It is a vehicle for stopping abuse. However, in an environment in which the rule of law is increasingly abandoned this confusion is understandable.

Having completely lost the utilitarian debate over objective practical matters such as efficacy of strategy, you predictably retreat to an amorphous subjective moral high ground and try to claim some kind of vague ethical victory For The Common Good^TM.

But there is no "bad actor" here.  Even Gallo admits the claims against the CTO/CEO are probably worthless.

And there is no an "abuser" who needs to be "brought to justice."  Otherwise, the District Attorney or FTC would be involved.

The "rule of law" has not been "abandoned" and you are using an inapplicable histrionic paradigm to evaluate these circumstances.  Bitcoin involvement notwithstanding, this is a perfectly normal business situation, not any kind of criminal enterprise.

people with a whole shitton of money were going to try to buy out the company and get a whole new crew in there

What part of ^that^ did you not understand?

The HF GH1 ASIC is a completely innocent piece of outstanding technology, and the customers who have been forced to lock in their preorder/MPP losses have been done a disservice by the eagerness of a tiny minority to enter endless, expensive, futile litigation.

[k9quaint]

Very interesting.

Uniquify looks like it has the guns to undertake this.

It appears I was mistaken! 

[iCEBREAKER]

Very interesting.

Uniquify looks like it has the guns to undertake this.

It appears I was mistaken! 

You were correct.  Uniquify did a suburb job of translating HF's chip RTL into an architecture.

Don't blame them in the rush to assign blame.  They did exactly what they were asked to do, but it wound up costing them $$$,$$$ for their efforts.   

[k9quaint]

Very interesting.

Uniquify looks like it has the guns to undertake this.

It appears I was mistaken! 

You were correct.  Uniquify did a suburb job of translating HF's chip RTL into an architecture.

Don't blame them in the rush to assign blame.  They did exactly what they were asked to do, but it wound up costing them $$$,$$$ for their efforts.   

Which boards are using Hashfast chips?

[iCEBREAKER]

Which boards are using Hashfast chips?

You can find that out by simply reading this thread.

HF Yoli, Habanero, and a couple of others use their chips.

It's not Uniquify's fault that HF failed, if that's what you're (passive aggressively) trying to imply.