HashFast announces specs for new ASIC: 400GH/s

[perezoso]

Hi Icetard and Armyof1Idiot!

I just dropped by to say that this original petitioner remains happy he petitioned!  Sorry your panties are still twirled up about it all.

Now I want to go check out that Cockmeier thread.

Perezoso

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[1714606905]

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[armyof1ne]

Hi Icetard and Armyof1Idiot!

I just dropped by to say that this original petitioner remains happy he petitioned!  Sorry your panties are still twirled up about it all.

Now I want to go check out that Cockmeier thread.

Perezoso

Ignorance is bliss they say.

[armyof1ne]

I'm just gonna ask this, how much are the petitioners going to have to pay in lawyers fees? i know the court only allowed somewhere in the range of $60,000 to be disbursed to them, but they requested something like $1,250,000, is that going to be billed to the petitioners?  I would assume some of the bigger names like KOI could eat it and use it as a tax write off, or is it going to be distributed evenly?  Just some information i'd like to know.
I know some lawyers have it in a clause they they would eat it and write it off, but i don't think that would apply to many bankruptcy proceedings.
Anyone have this information?

[cedivad]

Anyone have this information?

Why don't you go finding this information out in the sea of very special knowledge you must have attained from for every other of your posts?

Cyperdoc feels innocent today:

i am in a dispute with Hashfast so i can't talk too many details but in this country, one is normally considered innocent until proven guilty and i deny all their allegations and expect to prevail. i've never dealt directly with him in any financial tx yet he's issued a negative rating acting like i have which he will willingly remove contingent on me giving him money i rightfully earned and isn't his.

https://www.reddit.com/r/Bitcoin/comments/3e8a4v/jeff_g_throwing_the_hammer_down_today_on_devlist/ctd3x1y

[armyof1ne]

Anyone have this information?

Why don't you go finding this information out in the sea of very special knowledge you must have attained from for every other of your posts?

Cyperdoc feels innocent today:

i am in a dispute with Hashfast so i can't talk too many details but in this country, one is normally considered innocent until proven guilty and i deny all their allegations and expect to prevail. i've never dealt directly with him in any financial tx yet he's issued a negative rating acting like i have which he will willingly remove contingent on me giving him money i rightfully earned and isn't his.

https://www.reddit.com/r/Bitcoin/comments/3e8a4v/jeff_g_throwing_the_hammer_down_today_on_devlist/ctd3x1y

I know, skirting questions and not actually answering is your motto and all, but it would be nice to know the information i asked above...  if im asking, its obviously not in the information i have posted, but thats just logic... screw logic right?
if you are trying to imply that those 3000 bitcoins would be going to the petitioners possible bill, thats not quite how it works... that money would be going to the fund to pay out the confirmed plan.
Unfortunately thats going to be spit in the bucket.

[pmorici]

I'm just gonna ask this, how much are the petitioners going to have to pay in lawyers fees? i know the court only allowed somewhere in the range of $60,000 to be disbursed to them, but they requested something like $1,250,000, is that going to be billed to the petitioners?  I would assume some of the bigger names like KOI could eat it and use it as a tax write off, or is it going to be distributed evenly?  Just some information i'd like to know.
I know some lawyers have it in a clause they they would eat it and write it off, but i don't think that would apply to many bankruptcy proceedings.
Anyone have this information?

I'm not sure I understand your question.  If you are asking who determines how much the lawyers ultimately get paid it's the judge.  If you are asking if creditors would some how be responsible for covering any difference between what the judge allows in legal fees and what is available the answer is no.  If their isn't enough recovered to pay the lawyers they eat the cost.  If the judge decides not to allow their full fee they eat that cost too.

[armyof1ne]

I'm just gonna ask this, how much are the petitioners going to have to pay in lawyers fees? i know the court only allowed somewhere in the range of $60,000 to be disbursed to them, but they requested something like $1,250,000, is that going to be billed to the petitioners?  I would assume some of the bigger names like KOI could eat it and use it as a tax write off, or is it going to be distributed evenly?  Just some information i'd like to know.
I know some lawyers have it in a clause they they would eat it and write it off, but i don't think that would apply to many bankruptcy proceedings.
Anyone have this information?

I'm not sure I understand your question.  If you are asking who determines how much the lawyers ultimately get paid it's the judge.  If you are asking if creditors would some how be responsible for covering any difference between what the judge allows in legal fees and what is available the answer is no.  If their isn't enough recovered to pay the lawyers they eat the cost.  If the judge decides not to allow their full fee they eat that cost too.

The confirmed plan was decided by the judge, they seem to be eating a very large amount is all.
The creditors are completely different from petitioners, they are the group that actually got the lawyers involved. as far as i understood there was a chance the petitioners would have to pay the unpaid bills, not the creditors.
I mean, $1mil + is alot to eat and use as a write off.

The difference in what you posted and what i asked is you are talking about petitioners are creditors(as a whole) which they are not... ... yes i understand they get a small chunk of what they are owed from the court ruling, but the left over is not the responsibility of the petitioners? that seems a little backwards to me, thats why i was asking if there was a clause or two protecting the petitioners or not.
*hope that clears up any misinterpretation*

[pmorici]

I'm just gonna ask this, how much are the petitioners going to have to pay in lawyers fees? i know the court only allowed somewhere in the range of $60,000 to be disbursed to them, but they requested something like $1,250,000, is that going to be billed to the petitioners?  I would assume some of the bigger names like KOI could eat it and use it as a tax write off, or is it going to be distributed evenly?  Just some information i'd like to know.
I know some lawyers have it in a clause they they would eat it and write it off, but i don't think that would apply to many bankruptcy proceedings.
Anyone have this information?

I'm not sure I understand your question.  If you are asking who determines how much the lawyers ultimately get paid it's the judge.  If you are asking if creditors would some how be responsible for covering any difference between what the judge allows in legal fees and what is available the answer is no.  If their isn't enough recovered to pay the lawyers they eat the cost.  If the judge decides not to allow their full fee they eat that cost too.

The confirmed plan was decided by the judge, they seem to be eating a very large amount is all.
The creditors are completely different from petitioners, they are the group that actually got the lawyers involved. as far as i understood there was a chance the petitioners would have to pay the unpaid bills, not the creditors.
I mean, $1mil + is alot to eat and use as a write off.

The difference in what you posted and what i asked is you are talking about petitioners are creditors(as a whole) which they are not... ... yes i understand they get a small chunk of what they are owed from the court ruling, but the left over is not the responsibility of the petitioners? that seems a little backwards to me, thats why i was asking if there was a clause or two protecting the petitioners or not.
*hope that clears up any misinterpretation*

I see what you're asking.  The answer is no, the petitioners aren't on the hook for any of the lawyer fees that you are asking about.  The petitioners paid their lawyer out of their own pocket upfront to file the petition but the cost of the bankruptcy process that ensues after a company is in bankruptcy is not their responsibility.  Bankruptcy lawyers know there is a chance that they won't get paid the full amount they claim it is routine part of their business.

[dsattler]

http://www.coindesk.com/judge-approves-fraud-claims-against-bitcoin-mining-firm-hashfast/

[vokain]

Good job Pete!!

[cedivad]

For the lazies:

http://www.courthousenews.com/2015/08/17/bitcoin.pdf

These negotiations resulted in a Statement of Work (“SOW”) agreement, executed on July 1, 2013. Id. at ¶ 26. According to that agreement, the design for the G1 chip was not scheduled to “tape-out,” or be completed, until September 15, 2013, at the earliest. Id. Barber and deCastro were also informed by Uniquify that the time between “tape-out” of the G1 chip and a finished product would exceed two months, even under an expedited production schedule. Id. Based on that timeline, the HashFast Entities were aware they would not be able to provide Baby Jets to customers until mid- November, 2013. Id. at ¶ 27.

https://bitcointalk.org/index.php?topic=262052.msg3037517#msg3037517

HashFast's Golden Nonce GN ASIC successfully taped-out yesterday, Wednesday the 28th, and has been released for 28nm fabrication to a well-known, leading-edge foundry.  More details will follow in next week's joint press release.

[RoadStress]

For the lazies:

http://www.courthousenews.com/2015/08/17/bitcoin.pdf

These negotiations resulted in a Statement of Work (“SOW”) agreement, executed on July 1, 2013. Id. at ¶ 26. According to that agreement, the design for the G1 chip was not scheduled to “tape-out,” or be completed, until September 15, 2013, at the earliest. Id. Barber and deCastro were also informed by Uniquify that the time between “tape-out” of the G1 chip and a finished product would exceed two months, even under an expedited production schedule. Id. Based on that timeline, the HashFast Entities were aware they would not be able to provide Baby Jets to customers until mid- November, 2013. Id. at ¶ 27.

https://bitcointalk.org/index.php?topic=262052.msg3037517#msg3037517

HashFast's Golden Nonce GN ASIC successfully taped-out yesterday, Wednesday the 28th, and has been released for 28nm fabrication to a well-known, leading-edge foundry.  More details will follow in next week's joint press release.

Also

Judge Edward Davila [...] approving the claim that HashFast violated the Unfair Competition Law (UCL) – which prohibits "acts or practices which are unlawful, or unfair or fraudulent" – and additional allegations of fraud.

A big FU towards Icetard!

[vokain]

If anyone is able, would they please do us the courtesy of sharing any updates or news, if any? Thanks!

[cedivad]

If anyone is able, would they please do us the courtesy of sharing any updates or news, if any? Thanks!

I would also like to know.

https://www.reddit.com/r/Bitcoin/comments/3tv7v8/deprecating_bitcoin_core_visualizing_the/cx9naxt?context=3

[armyof1ne]

For right now, many objections are being filed, If you are a creditor and are part of the liquidation, i would suggest making sure you have all materials gathered up that give proof to purchase, and that you are owed money.  they are trying to get peoples claims completely disallowed, basically offering more available money to the lawyers and bigger buyers to increase their approved claim.
I have seen people discussing objections to claims on this, and you only have a short time to respond. Its a chance of you basically giving up your right to any available funds and handing them over to other people like lawyers.

Once the objections are done, and plan fully confirmed, liquidation will take effect, and then dispersal of any funds if i understand correctly.

[vokain]

Armyof1ne, do you know where we can find these objections?

[armyof1ne]

This is my second attempt at posting, i'm not sure why it was deleted.

A fairly extensive list of people have had objections levied against them. If you have a pacer account, you can view all the documents put in on the 30th.
the bad thing about "mail servicing" is sometimes it takes time for it to get to the person, giving them only a few days to respond.  which is why i am posting here. after responding, maybe seek legal fees and time wasted on this.

https://www.pacermonitor.com/public/case/3491312/Hashfast_Technologies_LLC
If you don't have a pacer account, this can give you a view of what is up.
Don't take anything i say as legal advice, hit your lawyer up, hopefully they can do stuff pro bono being this case has been nothing but a circus.

[armyof1ne]

For those that have pacer
https://ecf.canb.uscourts.gov/cgi-bin/login.pl  search for 3:14-bk-30725

https://archive.org/details/gov.uscourts.canb.522575_201512

Here you go if you want to take a look, this is the free version of court documents i donated to the internet archive, there is a large group of people on the list, including the original petitioners.

Our friend Cedivad is on the list too.

[vokain]

Thank you, armyof1ne

[allinvain]

For right now, many objections are being filed, If you are a creditor and are part of the liquidation, i would suggest making sure you have all materials gathered up that give proof to purchase, and that you are owed money.  they are trying to get peoples claims completely disallowed, basically offering more available money to the lawyers and bigger buyers to increase their approved claim.
I have seen people discussing objections to claims on this, and you only have a short time to respond. Its a chance of you basically giving up your right to any available funds and handing them over to other people like lawyers.

Once the objections are done, and plan fully confirmed, liquidation will take effect, and then dispersal of any funds if i understand correctly.

I just got the objection letter today, and if I understand it correctly it means that they are moving to convert my claim to a specific "unsecured" dollar amount. In my case the debtor's lawyer did not tick the "disallow" box so I'm not sure if my response is required. I am basically tacitly agreeing to the compensation amount denominated in dollars. No doubt if my claim had a greater dollar value they would move to "disallow" it for sure!