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Author Topic: HashFast announces specs for new ASIC: 400GH/s  (Read 865235 times)
armyof1ne
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December 08, 2014, 05:35:24 PM
 #11201

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Shortly before the hearing adjourned, Montali expressed his puzzlement in the entire affair and wondered why the company simply didn't just convert its Chapter 11 bankruptcy protection into a Chapter 7, which allows a company to liquidate under American bankruptcy law.

"The observation that I’ve had since Day 1: I've expressed the unusualness of this new business called Bitcoin coming into our old familiar bankruptcy world, and I find it beyond belief that someone who understands Bitcoin wouldn't have the slightest interest under the bankruptcy code," Judge Montali said. "I'm going to defer to the judgement of the committee and the judgement of the debtor."

Weren't we first converted from chapter 7 to chapter 11?
Well, technically no, an involuntary petition was put in to try to put them into chapter 7, and if they didn't respond in time, they would have been put into chapter 7... however, they responded and apparently proved solvency... which allowed them into chapter 11.

it was a bold move to do that, but apparently some people had it in their head it was the only move, they will defend their actions til they are blue in the face, but it was a bad decision, especially when they didn't know all the cards on the table... old news i suppose... nothing to be done now but wait to get less than 1% of what we paid back... i mean 0% sorry, typo
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December 08, 2014, 05:50:29 PM
 #11202

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Shortly before the hearing adjourned, Montali expressed his puzzlement in the entire affair and wondered why the company simply didn't just convert its Chapter 11 bankruptcy protection into a Chapter 7, which allows a company to liquidate under American bankruptcy law.

"The observation that I’ve had since Day 1: I've expressed the unusualness of this new business called Bitcoin coming into our old familiar bankruptcy world, and I find it beyond belief that someone who understands Bitcoin wouldn't have the slightest interest under the bankruptcy code," Judge Montali said. "I'm going to defer to the judgement of the committee and the judgement of the debtor."

Weren't we first converted from chapter 7 to chapter 11?

    Yup, anyone looking for a summary of what has happened so far this is my take...  

    After being forced into chapter 7 Hashfast delayed for a month then filed a motion asking the judge to convert the case to chapter 11 which they are entitled to do under bankruptcy law.  Hashfast wanted to transfer all the valuable assets of the company to a new company for a token payment and leave all the liabilities ie: money owed to the customers with the bankrupt entity.  They were calling this the "Liquidbits deal" and that would have only been possible to push through under chapter 11 since under chapter 7 the existing management would have lost all control.  The creditors opposed that because it would have left us customers with exactly $0 and only paid the lawyers and a few key insiders.  Based on this the creditors were able to get a CRO appointed which removed decision making control from the HF management and put it in the hands of a third party who pursued a strategy of selling off the assets.  At this point as the article notes most of the assets have been sold except for some chips.  What's left is to pursue what they call "avoidance, preference, and fraudulent conveyance" actions.  That is what you will see happening next.

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December 08, 2014, 06:34:43 PM
 #11203

Quote
Shortly before the hearing adjourned, Montali expressed his puzzlement in the entire affair and wondered why the company simply didn't just convert its Chapter 11 bankruptcy protection into a Chapter 7, which allows a company to liquidate under American bankruptcy law.

"The observation that I’ve had since Day 1: I've expressed the unusualness of this new business called Bitcoin coming into our old familiar bankruptcy world, and I find it beyond belief that someone who understands Bitcoin wouldn't have the slightest interest under the bankruptcy code," Judge Montali said. "I'm going to defer to the judgement of the committee and the judgement of the debtor."

Weren't we first converted from chapter 7 to chapter 11?

    Yup, anyone looking for a summary of what has happened so far this is my take...  

    After being forced into chapter 7 Hashfast delayed for a month then filed a motion asking the judge to convert the case to chapter 11 which they are entitled to do under bankruptcy law.

Not that it matters at this point, but who approved Hashfast's request to convert to chapter 11? Judge Montali? I know I should know this but this question is part rhetoric, part self-prescribed ignorance.

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December 08, 2014, 06:44:40 PM
 #11204

Where are you icetard to praise HF? Everything was bought for 400k? That's saying something about the world's fastest chip...

iCEBREAKER is a troll! He and cypherdoc helped HashFast scam 50 Million $ from its customers !
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December 08, 2014, 07:26:06 PM
 #11205

Quote
Shortly before the hearing adjourned, Montali expressed his puzzlement in the entire affair and wondered why the company simply didn't just convert its Chapter 11 bankruptcy protection into a Chapter 7, which allows a company to liquidate under American bankruptcy law.

"The observation that I’ve had since Day 1: I've expressed the unusualness of this new business called Bitcoin coming into our old familiar bankruptcy world, and I find it beyond belief that someone who understands Bitcoin wouldn't have the slightest interest under the bankruptcy code," Judge Montali said. "I'm going to defer to the judgement of the committee and the judgement of the debtor."

Weren't we first converted from chapter 7 to chapter 11?

    Yup, anyone looking for a summary of what has happened so far this is my take...  

    After being forced into chapter 7 Hashfast delayed for a month then filed a motion asking the judge to convert the case to chapter 11 which they are entitled to do under bankruptcy law.

Not that it matters at this point, but who approved Hashfast's request to convert to chapter 11? Judge Montali? I know I should know this but this question is part rhetoric, part self-prescribed ignorance.

    Yes, Judge Montali approved it.  It was of course the decision of Hashfast management to file it in the first place.  This was before the creditors had any collective representation to oppose it. 

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December 08, 2014, 07:47:36 PM
 #11206

Quote
Shortly before the hearing adjourned, Montali expressed his puzzlement in the entire affair and wondered why the company simply didn't just convert its Chapter 11 bankruptcy protection into a Chapter 7, which allows a company to liquidate under American bankruptcy law.

"The observation that I’ve had since Day 1: I've expressed the unusualness of this new business called Bitcoin coming into our old familiar bankruptcy world, and I find it beyond belief that someone who understands Bitcoin wouldn't have the slightest interest under the bankruptcy code," Judge Montali said. "I'm going to defer to the judgement of the committee and the judgement of the debtor."

Weren't we first converted from chapter 7 to chapter 11?

    Yup, anyone looking for a summary of what has happened so far this is my take...  

    After being forced into chapter 7 Hashfast delayed for a month then filed a motion asking the judge to convert the case to chapter 11 which they are entitled to do under bankruptcy law.

Not that it matters at this point, but who approved Hashfast's request to convert to chapter 11? Judge Montali? I know I should know this but this question is part rhetoric, part self-prescribed ignorance.

    Yes, Judge Montali approved it.  It was of course the decision of Hashfast management to file it in the first place.  This was before the creditors had any collective representation to oppose it. 

He should now have at least a glimpse of an answer as to why Hashfast management didn't just stay in Chapter 7. Hopefully this helps us creditors re: litigation.

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December 08, 2014, 10:53:29 PM
 #11207

Where are you icetard to praise HF? Everything was bought for 400k? That's saying something about the world's fastest chip...

Where is cedivad?  Why isn't he here to praise this result of legal actions he helped initiate?   Huh

Ochoa didn't buy "everything."  And the 420k offer came with two huge side deals of great benefit to us creditors.

This is good news.  HashFast will be selling boards again soon:

Quote
That offer was accompanied by a commitment from Mr. Ochoa to permit the Debtors to buy data mining boards that Mr. Ochoa will be building with the Debtors’ assets, and which will be compatible the Debtors’ chip inventory, at a price equal to Mr. Ochoa’s cost. That commitment is valuable to the Debtors because it enables them to sell fully integrated and tested boards using the Debtors’ chip inventory at a price that both is competitive in the marketplace and generates significant margin to the Debtors. In addition, Mr. Ochoa’s offer was accompanied by a further commitment from Mr. Ochoa to permit the Debtors to purchase, again at no markup, a future, fully integrated mining board that is scheduled to be developed early next year. While that future board will not use any of the Debtors’ inventory, the Debtors’ ability to buy the board at cost and then reselling to the public at a margin provides real value to the Debtors and their creditors.

How many do you want?   Cheesy


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December 08, 2014, 10:59:39 PM
 #11208


This is good news.  

you sir, are fucking deluded.

nobody wants those boards nor does anyone wish to be associated with anything to do with hashfail.
it's dead, get over it. dead, inefficient and last year's news.

tips    1APp826DqjJBdsAeqpEstx6Q8hD4urac8a
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December 08, 2014, 11:09:13 PM
 #11209

Where are you icetard to praise HF? Everything was bought for 400k? That's saying something about the world's fastest chip...

Where is cedivad?  Why isn't he here to praise this result of legal actions he helped initiate?   Huh

Ochoa didn't buy "everything."  And the 420k offer came with two huge side deals of great benefit to us creditors.

This is good news.  HashFast will be selling boards again soon:

....
How many do you want?   Cheesy

Boards which nobody will buy. Ok. Great deal for the "best and fastest bitcoin mining chip". Words simply can't express the amount of failure apparently from both sides.

Maybe the legal action didn't got anything for the creditors, but at least it stopped HF from scamming (aka sucking their money into a black hole because that's what HF does best) other customers.

iCEBREAKER is a troll! He and cypherdoc helped HashFast scam 50 Million $ from its customers !
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December 08, 2014, 11:15:19 PM
 #11210

This is good news.  

you sir, are fucking deluded.

nobody wants those boards nor does anyone wish to be associated with anything to do with hashfail.
it's dead, get over it. dead, inefficient and last year's news.

Plenty of people want Habanero boards, which are almost the same thing.

I'd love to get my MPP boards and so would many others, especially those who never received their initial order.


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whether we have a dictatorship or a real democracy." 
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December 08, 2014, 11:24:42 PM
 #11211

This is good news.  

you sir, are fucking deluded.

nobody wants those boards nor does anyone wish to be associated with anything to do with hashfail.
it's dead, get over it. dead, inefficient and last year's news.

Plenty of people want Habanero boards, which are almost the same thing.

I'd love to get my MPP boards and so would many others, especially those who never received their initial order.

get a fucking grip. I have no interest in receiving any 'product' linked to hashfail, send me my fucking money back or shut the fuck up, dickhead.
You make me sick, i've been watching your vile bully tactics on this forum and I can honestly say that I have never seen such a fucking lowlife in all my entire life.

you think anyone is vaguely interested in receiving 800GH/s MPP boards with difficulty sitting at 40billion? you are truly fucking deluded and that court case was a fucking farce. If you think any good has come of some ragged politico buying himself a new toy to play with, then i'm afraid you had better get lubed up and take that arse-fucking again and again and again that you so richly deserve and one can only presume, enjoy.

tips    1APp826DqjJBdsAeqpEstx6Q8hD4urac8a
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December 08, 2014, 11:28:13 PM
 #11212

you think anyone is vaguely interested in receiving 800GH/s MPP boards with difficulty sitting at 40billion? you are truly fucking deluded and that court case was a fucking farce. If you think any good has come of some ragged politico buying himself a new toy to play with, then i'm afraid you had better get lubed up and take that arse-fucking again and again and again that you so richly deserve and one can only presume, enjoy.

1 J/GH boards? Worthless. Less than worthless. You'd have to pay me to power them up.

Buy & Hold
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December 08, 2014, 11:40:21 PM
 #11213

Where are you icetard to praise HF? Everything was bought for 400k? That's saying something about the world's fastest chip...

Where is cedivad?  Why isn't he here to praise this result of legal actions he helped initiate?   Huh

Ochoa didn't buy "everything."  And the 420k offer came with two huge side deals of great benefit to us creditors.

This is good news.  HashFast will be selling boards again soon:

Quote
That offer was accompanied by a commitment from Mr. Ochoa to permit the Debtors to buy data mining boards that Mr. Ochoa will be building with the Debtors’ assets, and which will be compatible the Debtors’ chip inventory, at a price equal to Mr. Ochoa’s cost. That commitment is valuable to the Debtors because it enables them to sell fully integrated and tested boards using the Debtors’ chip inventory at a price that both is competitive in the marketplace and generates significant margin to the Debtors. In addition, Mr. Ochoa’s offer was accompanied by a further commitment from Mr. Ochoa to permit the Debtors to purchase, again at no markup, a future, fully integrated mining board that is scheduled to be developed early next year. While that future board will not use any of the Debtors’ inventory, the Debtors’ ability to buy the board at cost and then reselling to the public at a margin provides real value to the Debtors and their creditors.

How many do you want?   Cheesy
I am pretty sure Mr Cavion will probably stay silent. 
Those boards are probably going to be kind of worthless at this point, unless enmasse... no point in purchasing something i should already own, he would be wise to open under a new name.
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December 09, 2014, 12:06:54 AM
 #11214

really people want these boards still? at what price? I have 20 rev 3 boards sitting in a box next to me right now. Let me know and they are yours. I am not running them now due to op-ex and capacity constraints

Well I'd bite if they were cheap, need running at less than spec to keep heatsinks cheap enough to bother buying for them, I'm thinking I could go 5 @ $125 ea, but I'm hodling my coin, so we'd have to make other payment arrangements... you could maybe get $1000 out of me for 10.

TL;DR See Spot run. Run Spot run. .... .... Freelance interweb comedian, for teh lulz >>> 1MqAAR4XkJWfDt367hVTv5SstPZ54Fwse6

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December 09, 2014, 12:41:33 AM
 #11215

Well it really depends on the price of the boards. I mean let alot the water cooler and power costs a huge portion of the possible money that can be made.

Lets just assume for a second that the board runs at 800gh and because we are pretending, lets say the difficulty is not going to get any higher. So after 100 days you would only generate 1.064 BTC. IF we assume that the water cooler is 60$ and the psu is 40$ That leaves at the current price 260$ that the board price can be.

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December 09, 2014, 12:45:06 AM
 #11216

nobody wants those boards nor does anyone wish to be associated with anything to do with hashfail.

Plenty of people want Habanero boards, which are almost the same thing.

I'd love to get my MPP boards and so would many others, especially those who never received their initial order.

get a fucking grip. I have no interest in receiving any 'product' linked to hashfail, send me my fucking money back or shut the fuck up, dickhead.
You make me sick, i've been watching your vile bully tactics on this forum and I can honestly say that I have never seen such a fucking lowlife in all my entire life.

you think anyone is vaguely interested in receiving 800GH/s MPP boards with difficulty sitting at 40billion? you are truly fucking deluded and that court case was a fucking farce. If you think any good has come of some ragged politico buying himself a new toy to play with, then i'm afraid you had better get lubed up and take that arse-fucking again and again and again that you so richly deserve and one can only presume, enjoy.

LoL, u sound mad bro.   Tongue

First you said "nobody" wants HF boards and then you change it to "I have no interest."   Roll Eyes

If you can't distinguish between yourself and everybody, no wonder you get upset so easily.

Such massive conceptual difficulties must make life very difficult.

Of course the court case was a farce.  We smart people knew it would be, and warned you of that, well in advance of cedivad, MM, and PM's spectacularly ill-advised legal actions:

Btw my lawyer says that while there can be multiple actions from the same lawyer with several little customers, there can't be class actions against HF. In other words, i don't think i have any suggestion to everyone who ordered only 1 unit (and i'm really sorry of being unable to help).

The ONLY winners of class action law suits... are the lawyers, lets face it.


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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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pmorici
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December 09, 2014, 12:57:39 AM
 #11217

Quote
Shortly before the hearing adjourned, Montali expressed his puzzlement in the entire affair and wondered why the company simply didn't just convert its Chapter 11 bankruptcy protection into a Chapter 7, which allows a company to liquidate under American bankruptcy law.

"The observation that I’ve had since Day 1: I've expressed the unusualness of this new business called Bitcoin coming into our old familiar bankruptcy world, and I find it beyond belief that someone who understands Bitcoin wouldn't have the slightest interest under the bankruptcy code," Judge Montali said. "I'm going to defer to the judgement of the committee and the judgement of the debtor."

Weren't we first converted from chapter 7 to chapter 11?

    Yup, anyone looking for a summary of what has happened so far this is my take... 

    After being forced into chapter 7 Hashfast delayed for a month then filed a motion asking the judge to convert the case to chapter 11 which they are entitled to do under bankruptcy law.

Not that it matters at this point, but who approved Hashfast's request to convert to chapter 11? Judge Montali? I know I should know this but this question is part rhetoric, part self-prescribed ignorance.

    Yes, Judge Montali approved it.  It was of course the decision of Hashfast management to file it in the first place.  This was before the creditors had any collective representation to oppose it. 

He should now have at least a glimpse of an answer as to why Hashfast management didn't just stay in Chapter 7. Hopefully this helps us creditors re: litigation.

Yes, well, what is lost on all the people screaming that forcing them into chapter 7 was stupid idea is that they were preparing to declare chapter 11 bankruptcy anyways.  The involuntary filing just caused them to have to do it a couple weeks sooner than they had planned.

Gigampz: Adapter Boards for Server Power Supplies 50% cheaper than ATX power supplies.  DPS-800GBA, DPS-1200FBA, Common Slot, CRPS, DPS-1200TBA, DPS-2000bb, Dell z750p
Flashman
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December 09, 2014, 01:14:52 AM
 #11218

Lets just assume for a second that the board runs at 800gh and because we are pretending, lets say the difficulty is not going to get any higher. So after 100 days you would only generate 1.064 BTC. IF we assume that the water cooler is 60$ and the psu is 40$ That leaves at the current price 260$ that the board price can be.

I was figuring they'd need a solid 1000W PSU at 800, w/gh climbs with speed. Can find some useable 600W ones around $40 but then there's quite a jump.

TL;DR See Spot run. Run Spot run. .... .... Freelance interweb comedian, for teh lulz >>> 1MqAAR4XkJWfDt367hVTv5SstPZ54Fwse6

Bitcoin Custodian: Keeping BTC away from weak heads since Feb '13, adopter of homeless bitcoins.
cedivad
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December 09, 2014, 01:42:29 AM
 #11219

I am pretty sure Mr Cavion will probably stay silent.
I've already written everything I wanted to during the last year, there is no need for me to reiterate and lose more time with trolls.
But I think that I should be amused by how often those trolls throw the ball at me.

Reading Morici is always depressing in it's simplicity. He always has that linear, dead simple explanation of the screwing, yet, here we still are, banging our heads with judges, lawyers, trollers, while the people behind this are laughing at us and enjoy the protection of the law.

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
stan258
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December 09, 2014, 01:53:10 AM
 #11220

Lets just assume for a second that the board runs at 800gh and because we are pretending, lets say the difficulty is not going to get any higher. So after 100 days you would only generate 1.064 BTC. IF we assume that the water cooler is 60$ and the psu is 40$ That leaves at the current price 260$ that the board price can be.

I was figuring they'd need a solid 1000W PSU at 800, w/gh climbs with speed. Can find some useable 600W ones around $40 but then there's quite a jump.

about right. a 1250w can run 2 at 30 day average of 600-650 ghs in non-datacenter ambient environment. Not optimized as I would like but the life is so short I focused on stability

You will need CPU coolers which are worth more then the boards. 
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