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Author Topic: HashFast announces specs for new ASIC: 400GH/s  (Read 875470 times)
minternj
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November 19, 2013, 06:24:54 AM
 #2881

Yes, they did promise for our machines to ROI in BTC terms in 90 days. Thats how they got batch 1 sold out. They promised, actually they guaranteed,  us enough hashpower to make up that difference up to 4x if it didnt ROI in 90 days. But now its clear that that will not be enough to hash power to ROI BTC. That and there no clear plan on when htey will give us this extra hashing power promised.

I state the price in USD terms mostly for effect. To tell someone hey i spent 59 bitcoins doesn't have enough effect as saying hey you have the equivalent of $40,000+ dollars of mine.

But, yes you do make valid points.

No they never promised... dont be a fool.

Read what they said. Its just a protection plan. They promise to send you extra hashrate to help you ROI. Never once they promised your BTC ROI in 90 days.



Its implied. To me it was clearly an d heavily implied. Btw why does everyone resort to name calling? Who the fuck are you to call me a fool.

"If the Bitcoin network hashrate increases so that your Baby Jet doesn’t generate more Bitcoins in ninety days than you paid for it, HashFast will give you additional ASICs. In fact, we will give you up to 400% more hashing capacity than the Baby Jet you purchased. Yes, that does mean that if you don’t make your money back in 90 days, we will increase your mining capacity to up to 2 Terahashes!"

That from the MPP. Yes sure its not exact a promise to roi in 90 days, but its implying we will. Which we definitely will not now with the delays.

Warning about Nitrogensports.eu
https://bitcointalk.org/index.php?topic=709114.0
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November 19, 2013, 06:25:06 AM
 #2882

The only success story out of any of this is the Avalon's. When first users of those units, even though were only like 50Gh/s were raking in like $500/day I believe. Even more...for several months. Then I heard about shipping problems, overheating, etc....you name it. It doesn't seem like any of these bitcoin companies are a success and it is quite embarrassing for the bitcoin industry. While there is big news when a new rig is announced, that doesn't mean anything. If you can't deliver it  no matter how nice the miner is it is all useless bullshit that no one wants to hear.

What I have noticed is there are too many up tight people in the bitcoin industry. Most of bitcoin using populating is men and they all need to get laid and relax. Stop making your mom wash your underwear and make your food, get off your ass and do it yourself.


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Nemesis
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November 19, 2013, 06:28:16 AM
 #2883

Yes, they did promise for our machines to ROI in BTC terms in 90 days. Thats how they got batch 1 sold out. They promised, actually they guaranteed,  us enough hashpower to make up that difference up to 4x if it didnt ROI in 90 days. But now its clear that that will not be enough to hash power to ROI BTC. That and there no clear plan on when htey will give us this extra hashing power promised.

I state the price in USD terms mostly for effect. To tell someone hey i spent 59 bitcoins doesn't have enough effect as saying hey you have the equivalent of $40,000+ dollars of mine.

But, yes you do make valid points.

No they never promised... dont be a fool.

Read what they said. Its just a protection plan. They promise to send you extra hashrate to help you ROI. Never once they promised your BTC ROI in 90 days.



Its implied. To me it was clearly an d heavily implied. Btw why does everyone resort to name calling? Who the fuck are you to call me a fool.

"If the Bitcoin network hashrate increases so that your Baby Jet doesn’t generate more Bitcoins in ninety days than you paid for it, HashFast will give you additional ASICs. In fact, we will give you up to 400% more hashing capacity than the Baby Jet you purchased. Yes, that does mean that if you don’t make your money back in 90 days, we will increase your mining capacity to up to 2 Terahashes!"

That from the MPP. Yes sure its not exact a promise to roi in 90 days, but its implying we will. Which we definitely will not now with the delays.

Bring that argument to court idiot....LOL at "implied"

I called you a fool because you take that as a promise of ROI in 90 days.
minternj
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November 19, 2013, 07:02:56 AM
 #2884

Real internet tough guy you are huh. Since you trolled me into responding to your useless post heres some "court admissible" info as you put it. Last i check fraud is a crime.

https://bitcointalk.org/index.php?topic=262052.msg2909687#msg2909687

Quote
   
Re: HashFast announces specs for new ASIC: 400GH/s
August 11, 2013, 10:35:56 AM

If you ship in December - your customers will take a bath on this.
- We wont.  And we'll protect our customer's against hashrate increases.
Expect details on Monday

Thanks!

Eduardo deCastro
Founder and CEO,
HashFast Technologies

https://bitcointalk.org/index.php?topic=276827.msg2954980#msg2954980

Quote
   
Re: It's -on-!
August 18, 2013, 01:43:04 AM
Reply with quote  #12
Quote from: joshv06 on August 18, 2013, 01:34:50 AM
Does the expected ship date of late October still look achievable?

Yes. We are exactly on track.

-John

Not to mention Day 1 purchasers did not have the Dec 31 date. We were promised October. No "Anitciptated" ship date.

https://bitcointalk.org/index.php?topic=270384.msg2894615#msg2894615
Quote
HashFast launches sales of the Baby Jet
August 08, 2013, 11:57:25 PM

 - Shipments begin: October 20th-30th, in order of purchase

https://bitcointalk.org/index.php?topic=270384.msg3351769#msg3351769
Quote
   
Re: HashFast launches sales of the Baby Jet
October 16, 2013, 08:49:40 PM
Reply with quote  #638
Quote from: flyboy on October 16, 2013, 06:15:56 PM
Any updates on CHIPS or BOARDS??

or TIME LINE?

or DELAYS?

Chips are still on schedule.   No delays so far.   Very close now!

Are we there yet?  No, but it won't be much longer.

And the silicon that that arrived in the infamous picture in novenmber instead of october. of course we know that the week turned out to be many many many weeks.
https://bitcointalk.org/index.php?topic=262052.msg3358956#msg3358956

Quote
   
Re: HashFast announces specs for new ASIC: 400GH/s
October 17, 2013, 11:31:23 PM

And, as of a few days ago, ... ...  it looks like we're probably going to slip, by about a week.

Ironically, not because of the silicon, even though that is the part of the system that takes the longest to manufacture. That's going through the foundry smoothly. But we ran into a delay sourcing one of our other components.

Amy Woodward
VP Engineering
HashFast Technologies

Still telling us its possible to ROI in 90 days
https://bitcointalk.org/index.php?topic=318706.msg3418987#msg3418987
Quote
Re: Gathering funds for legal action against HashFast (troll-free)
October 27, 2013, 04:35:37 AM

4- MPP protection is intentionally denominated in BTC, not USD.   
    Given the direction BTC prices are taking, it is possible our early or late customers will achieve ROI in
    less that 90 days - and still receive MPP protection from us.  No charge, no questions.

Best,

-HF_CL

Warning about Nitrogensports.eu
https://bitcointalk.org/index.php?topic=709114.0
DPoS
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November 19, 2013, 07:06:53 AM
 #2885


Re: HashFast announces specs for new ASIC: 400GH/s
August 11, 2013, 10:35:56 AM

If you ship in December - your customers will take a bath on this.
- We wont.  And we'll protect our customer's against hashrate increases.
Expect details on Monday

Thanks!

Eduardo deCastro
Founder and CEO,
HashFast Technologies





Did he say scouts honor?   Or was it just a pinky shake?

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ninjarobot
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November 19, 2013, 07:13:45 AM
 #2886

Did he say scouts honor?   Or was it just a pinky shake?

Scouts honor.
itod
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November 19, 2013, 07:22:39 AM
 #2887

When I visited the HF temporary office a few weeks ago John told me he thought Josh Zerlan was a 'great guy'. Also he was proud to point out that while the BFL community made a lot of threats BFL had 0 lawsuits so far. Finally he thought Batch 1 customers were fine because the BTC price in USD had gone up a lot. Instead of taking a page from KnC, it appears they are following the BFL playbook so far.

This is what worries me most. Whenever HF retreats to BTC price, they show they are short term company. They wrote the god damned MPP, so they understand perfectly well the concept of BTC ROI. Mentioning BTC/US$ ratio shows they are satisfied with taking the money and ending like Yifu. Company that does that will behave differently than company committed to last long, and may do things that were not expected.

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cedivad
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November 19, 2013, 08:26:00 AM
 #2888

Also he was proud to point out that while the BFL community made a lot of threats BFL had 0 lawsuits so far. Finally he thought Batch 1 customers were fine because the BTC price in USD had gone up a lot.
We gotta fix that. Completely screwed. This is what we are. Completely.

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
scotjam
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November 19, 2013, 11:32:37 AM
 #2889

The only success story out of any of this is the Avalon's. When first users of those units, even though were only like 50Gh/s were raking in like $500/day I believe. Even more...for several months. Then I heard about shipping problems, overheating, etc....you name it. It doesn't seem like any of these bitcoin companies are a success and it is quite embarrassing for the bitcoin industry. While there is big news when a new rig is announced, that doesn't mean anything. If you can't deliver it  no matter how nice the miner is it is all useless bullshit that no one wants to hear.

What I have noticed is there are too many up tight people in the bitcoin industry. Most of bitcoin using populating is men and they all need to get laid and relax. Stop making your mom wash your underwear and make your food, get off your ass and do it yourself.



Avalon definitely wasn't a success for the chip group buys.

KnC at least shipped (almost, but not quite) on time. ROI in BTC is pretty questionable though.

The only real success was actually bitfury. I've sold almost everything, but out of all the devices I was involved in group buys for / bought directly, the only one that shipped as scheduled was a burnin bitburner fury.

scotjam

EDIT: oh, and of course ASICMiner kit all shipped on time, but who would buy that at the prices they were charging???
EDIT2: and of course BFL have taken 7 months or more to ship something that they sold with a "2 months or more" lead time. Funny to see inaba posting in this thread above.
pmorici
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November 19, 2013, 12:06:18 PM
 #2890

When I visited the HF temporary office a few weeks ago John told me he thought Josh Zerlan was a 'great guy'. Also he was proud to point out that while the BFL community made a lot of threats BFL had 0 lawsuits so far. Finally he thought Batch 1 customers were fine because the BTC price in USD had gone up a lot. Instead of taking a page from KnC, it appears they are following the BFL playbook so far.

John is a salesman it's his business to say nice things, especially about a company which Hashfast will be increasingly compared to.  If people were comparing HF to a cowpie he'd be telling you he thinks there is a strong case for their nutritional value.  If he really thought it through he would realize that BFL's situation with their customers is a lot different than the one HF finds themselves in for two reasons.  

    1. BFL's products were, for the most part, less expensive than HF's products making the costs of a potential lawsuit prohibitive compared to the customer's loss.

    2. BFL took payment in US Dollars via methods for which there are well established dispute resolution mechanisms.  People did get refunds from BFL they just didn't have to go to court to do it.  HF on the other hand only accepted wires or BTC payments so given that they are ignoring customers reasonable requests there is no other outlet.  Throw in the appreciating BTC price and suddenly the risk / reward equation of hiring a lawyer changes for anyone who paid in BTC.

It's also worth pointing out that just because there wen't any actual BFL lawsuits doesn't mean no one ever hired a lawyer to pursue BFL it just means BFL was smart and didn't let threats get out of hand to the point of an actual lawsuit.  If some sort of settlement did happen between BFL and an unsatisfied customer it's unlikely it would ever be publicly disclosed.

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November 19, 2013, 12:30:50 PM
 #2891

They should have the chips on PCBs by now and should be able to tell us whether or not they function.
Why do you think so?

Once you have the chip on substrate there's nothing else to really do but test it... Pretty much as soon as the bitfury chips were taped out and in bitfury's hand they were stuck in a board and evaluated for function.  These are supposed to be direct FPGA ports from what I understand, and so they should already have to means to test them and figure out if they need to be respun etc.

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November 19, 2013, 12:33:24 PM
 #2892

If you guys who spent all that money knew the price was going to go up, why didn't you buy more BTC with the BTC you spent?  Hell, if you knew it was going up, why didn't you mortgage the house and sell your pets and family members into slavery?  You could have purchased them back at twice the price and still come out ahead.


Well, of course, it's not all my money or anything.  It just represents a retrospective loss.  You kind of have to hedge against the market with mining gear to ensure a continual profit with BTC, since you never know which way it's gonna go.

End of the day Josh, it's still a loss in terms of BTC, but you can't predict what mining hardware companies will do these days and so you make a gamble, the same as you do on the blockchain.

I'm still way into the black overall this year, so I'm not really concerned.  I think myself and the others would just have liked a little more transparency to make informed business decisions upon.

I'm kind of happy that at least we get silence from them though, as it's not a BFL forum party full of "two weeks!" announcements.  I'm hoping they're working hard to get everything out the door.

Code:
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cedivad
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November 19, 2013, 12:51:20 PM
 #2893

Once you have the chip on substrate there's nothing else to really do but test it... Pretty much as soon as the bitfury chips were taped out and in bitfury's hand they were stuck in a board and evaluated for function.  These are supposed to be direct FPGA ports from what I understand, and so they should already have to means to test them and figure out if they need to be respun etc.
Yes but how do you know that they have the substrate ready and that they already made the complete chip? I agree with you that since that some wafers usually comes out from TSMC faster and such, they should almost have a working prototype.

However there is no trace of such a prototype, there are only NDAs that forbids us from seeing pics of those PCBs, so i keep supposing that they don't exists yet. And this is where my castle of cards fails. Because trust me, i would love to believe that i will see back what i gave to HF!

"2 teams" that can't make a suitable substrate during the last month? Impossible if you ask me. We will know when the hashrate spikes, anyway.

The only positive news of the day is the crash of the BTC value, this way we will se our miners sooner.

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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November 19, 2013, 04:09:32 PM
 #2894

Minternj is right on the money.  The kind of statements he is citing, and the overarching commitment of the MPP are exactly why I invested in the 1st batch, and exactly why Hashfast is going to have a big fat fucking problem if they don't rectify the situation for MPP customers.

I also bought an upgrade, which will never ROI, but I'm not complaining about that.  It was at-risk, not under the MPP pledge.

But... the way they have structured it, we just have to wait and see.  Maybe they make their 1st batch customers whole, maybe they don't.  I still wanna hope that they are good guys, although Ninja is scaring me considering his flip-flop from the positive attitude he had after visiting them.

I was saying weeks ago, and am still pretty sure, that if there's any litigation here, it's going to be about the MPP, not delivery dates per se, especially in view of statements about being 'on track' and whatnot.

But still... we have to wait and see.  Maybe they will do right.

If they have a decent order book going forward (who knows) and have kept some BTC, I still wonder if they might not collect enough cancellation requests to refund Cedivad and others that want it, and use those chips (we're only talking 550 or something total) to ship faster machines for remaining batch 1 orders.

I don't know if I'd call US $676 a "crash".  More like minor correction.


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November 19, 2013, 04:16:54 PM
 #2895

Minternj is right on the money.  The kind of statements he is citing, and the overarching commitment of the MPP are exactly why I invested in the 1st batch, and exactly why Hashfast is going to have a big fat fucking problem if they don't rectify the situation for MPP customers.
[...]
I was saying weeks ago, and am still pretty sure, that if there's any litigation here, it's going to be about the MPP, not delivery dates per se, especially in view of statements about being 'on track' and whatnot.
[...]

Interesting thought.  Could you point out the MPP clause in the ToS you accepted when purchasing?
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November 19, 2013, 04:18:17 PM
 #2896

I don't know if I'd call US $676 a "crash".  More like minor correction.
When i wrote it i was fully hoping in it, it was happening. No crash for now, you are right. Too bad.

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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November 19, 2013, 04:19:12 PM
 #2897

Interesting thought.  Could you point out the MPP clause in the ToS you accepted when purchasing?

What's your point?  

You can go read the MPP yourself if you are confused about it.  
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November 19, 2013, 04:39:50 PM
 #2898

Interesting thought.  Could you point out the MPP clause in the ToS you accepted when purchasing?

What's your point?  

You can go read the MPP yourself if you are confused about it.  

The point is there is no mention of the MPP in the ToS.  There will be no 'litigation' surrounding the MPP.  They made no promise, nor guarantee that you will ever achieve a BTC -> BTC ROI.  For someone who stated they destroy companies like this for a living you should know better.
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November 19, 2013, 04:42:08 PM
 #2899

Interesting thought.  Could you point out the MPP clause in the ToS you accepted when purchasing?

What's your point?  

You can go read the MPP yourself if you are confused about it.  

LOL noobs still think MPP is a ROI guarantee clause....... amazing how stupid ppl are. Right from beginning many members here and I already said MPP is just a fancy term to sell more hashrate.

Good luck to all the idiots who plan to take legal action.


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November 19, 2013, 04:45:25 PM
 #2900

@perezoso, i don't completely agree with you, but you should be able to tell the paid suckpoppet in this thread by now Wink

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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