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Author Topic: HashFast announces specs for new ASIC: 400GH/s  (Read 865355 times)
Gyrsur
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December 09, 2013, 04:33:20 PM
 #3741

They had one whole day to test it, and i expected some screaming results from their twitter account by now... Makes me wonder... USD refunds for everyone!

paid with BTC, order ack is in BTC, refund will be in BTC.

This is the only reason I ordered first batch.

For what? To exchange 50 BTC against 8 BTC?

no. if they are professionals they did a hedge against foreign exchange risk as all companies do if they have foreign exchange business with foreign currencies.
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Gyrsur
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December 09, 2013, 04:34:57 PM
 #3742

They had one whole day to test it, and i expected some screaming results from their twitter account by now... Makes me wonder... USD refunds for everyone!

paid with BTC, order ack is in BTC, refund will be in BTC.

This is the only reason I ordered first batch.

If any of you expect that, you're all idiots.

They only use btc as payment system, not currency.

No they cant refund everyone with the same amount of btc..... its not feasible. Gee.... stupid as stupid does.


wrong. order is in BTC not in USD. paid BTC to a normal address not with BitPay. they have to hedge against the risk.


EDIT: paid also as a life time member to the Bitcoin foundation to a normal address. the amount is still in the address. but HF was so "clever" to transfer the amount out right after the payment.
cedivad
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December 09, 2013, 04:35:43 PM
 #3743

No they cant refund everyone with the same amount of btc..... its not feasible. Gee.... stupid as stupid does.
The only problem in your thinking is that they repeated several times that they would refund the same amount of BTC if they failed to ship (remember when that user went to visit them and he repeated that john said so, repeatedly?)

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
seriouscoin
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December 09, 2013, 04:39:55 PM
 #3744

No they cant refund everyone with the same amount of btc..... its not feasible. Gee.... stupid as stupid does.
The only problem in your thinking is that they repeated several times that they would refund the same amount of BTC if they failed to ship (remember when that user went to visit them and he repeated that john said so, repeatedly?)

The only problem with your saying is that..... you trust their words. Even if its not feasible.

What do you think the pre-order fund is for?
cedivad
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December 09, 2013, 04:43:32 PM
 #3745

The only problem with your saying is that..... you trust their words.
I haven't trusted a single word of them since when they delayed the october delivery with no proof of anything. No, i don't trust them. I'm just trying to point out the reasons people expects BTC refunds. You can't call them stupid for that. You can bet that it's gonna be really funny if they delay and forget to refund the BTC equivalent.

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
seriouscoin
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December 09, 2013, 04:44:27 PM
 #3746

They had one whole day to test it, and i expected some screaming results from their twitter account by now... Makes me wonder... USD refunds for everyone!

paid with BTC, order ack is in BTC, refund will be in BTC.

This is the only reason I ordered first batch.

If any of you expect that, you're all idiots.

They only use btc as payment system, not currency.

No they cant refund everyone with the same amount of btc..... its not feasible. Gee.... stupid as stupid does.



wrong. order is in BTC not in USD. paid BTC to a normal address not with BitPay. they have to hedge against the risk.


EDIT: paid also as a life time member to the Bitcoin foundation to a normal address. the amount is still in the address. but HF was so "clever" to transfer the amount out right after the payment.

Just because you paid to a "normal" address doesnt mean they keep your btc. They're not in currency business unless .... thats what they're doing from the beginning and this whole mining project is just to get free-loan.
seriouscoin
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December 09, 2013, 04:45:32 PM
 #3747

The only problem with your saying is that..... you trust their words.
I haven't trusted a single word of them since when they delayed the october delivery with no proof of anything. No, i don't trust them. I'm just trying to point out the reasons people expects BTC refunds. You can't call them stupid for that. You can bet that it's gonna be really funny if they delay and forget to refund the BTC equivalent.

Yes i can call them stupid for believing such unfeasible thing  
Gyrsur
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December 09, 2013, 04:45:38 PM
 #3748

No they cant refund everyone with the same amount of btc..... its not feasible. Gee.... stupid as stupid does.
The only problem in your thinking is that they repeated several times that they would refund the same amount of BTC if they failed to ship (remember when that user went to visit them and he repeated that john said so, repeatedly?)

The only problem with your saying is that..... you trust their words. Even if its not feasible.

What do you think the pre-order fund is for?

not our problem. I be a customer not an investor. they got VC's to do the business as they claimed. I have no symphaty anymore after this long time of period of delay. they defined for theirselve a hard cut by 31 December of 2013 which was in their comfort zone. no understanding anymore as I said.
Gyrsur
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December 09, 2013, 04:48:03 PM
 #3749

They had one whole day to test it, and i expected some screaming results from their twitter account by now... Makes me wonder... USD refunds for everyone!

paid with BTC, order ack is in BTC, refund will be in BTC.

This is the only reason I ordered first batch.

If any of you expect that, you're all idiots.

They only use btc as payment system, not currency.

No they cant refund everyone with the same amount of btc..... its not feasible. Gee.... stupid as stupid does.



wrong. order is in BTC not in USD. paid BTC to a normal address not with BitPay. they have to hedge against the risk.


EDIT: paid also as a life time member to the Bitcoin foundation to a normal address. the amount is still in the address. but HF was so "clever" to transfer the amount out right after the payment.

Just because you paid to a "normal" address doesnt mean they keep your btc. They're not in currency business unless .... thats what they're doing from the beginning and this whole mining project is just to get free-loan.


wrong. they do foreign exchange business and have to hedge against the risk if they claim to give refund in the currency you paid. no interpretation gap.
seriouscoin
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December 09, 2013, 04:54:18 PM
 #3750

No they cant refund everyone with the same amount of btc..... its not feasible. Gee.... stupid as stupid does.
The only problem in your thinking is that they repeated several times that they would refund the same amount of BTC if they failed to ship (remember when that user went to visit them and he repeated that john said so, repeatedly?)

The only problem with your saying is that..... you trust their words. Even if its not feasible.

What do you think the pre-order fund is for?

not our problem. I be a customer not an investor. they got VC's to do the business as they claimed. I have no symphaty anymore after this long time of period of delay. they defined for theirselve a hard cut by 31 December of 2013 which was in their comfort zone. no understanding anymore as I said.

I hope they will refund you the amount of BTC that you paid.

 Legally they dont have to.
seriouscoin
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December 09, 2013, 04:56:08 PM
 #3751

They had one whole day to test it, and i expected some screaming results from their twitter account by now... Makes me wonder... USD refunds for everyone!

paid with BTC, order ack is in BTC, refund will be in BTC.

This is the only reason I ordered first batch.

If any of you expect that, you're all idiots.

They only use btc as payment system, not currency.

No they cant refund everyone with the same amount of btc..... its not feasible. Gee.... stupid as stupid does.



wrong. order is in BTC not in USD. paid BTC to a normal address not with BitPay. they have to hedge against the risk.


EDIT: paid also as a life time member to the Bitcoin foundation to a normal address. the amount is still in the address. but HF was so "clever" to transfer the amount out right after the payment.

Just because you paid to a "normal" address doesnt mean they keep your btc. They're not in currency business unless .... thats what they're doing from the beginning and this whole mining project is just to get free-loan.


wrong. they do foreign exchange business and have to hedge against the risk if they claim to give refund in the currency you paid. no interpretation gap.

The same interpretation that they "guarantee" ROI in BTC?

Please dont make me laugh..... i dont want to be seen as a devil here.
cedivad
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December 09, 2013, 04:56:21 PM
 #3752

Anyway the real problem with BTC refunds is that even if they where to happen, HF would buy KNC miners on the market, rebrand them and ship them by the end of the year instead of admitting to be over their deadline and issue BTC refunds.

So even if HF was legit, they are not gonna happen.

(and at that point you would be screwed because your MPP would be delivered in 2015, but that's another story).

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
Gyrsur
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December 09, 2013, 04:56:52 PM
 #3753

No they cant refund everyone with the same amount of btc..... its not feasible. Gee.... stupid as stupid does.
The only problem in your thinking is that they repeated several times that they would refund the same amount of BTC if they failed to ship (remember when that user went to visit them and he repeated that john said so, repeatedly?)

The only problem with your saying is that..... you trust their words. Even if its not feasible.

What do you think the pre-order fund is for?

not our problem. I be a customer not an investor. they got VC's to do the business as they claimed. I have no symphaty anymore after this long time of period of delay. they defined for theirselve a hard cut by 31 December of 2013 which was in their comfort zone. no understanding anymore as I said.

I hope they will refund you the amount of BTC that you paid.

 Legally they dont have to.

you have to request this until 15 January 2014 as the contract said.

btw. i have no history with you. the thread is for customers which have issues with HF to discuss how to proceed with the issues. I have no time to discuss for entertainment. sorry.
minternj
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December 09, 2013, 04:58:58 PM
 #3754

Ughh.. thanks for you legal expertise seriouscoin. Can i constitute this as legal advice?

Anyway, hashfast still no word on what mining controller is coming with the Baby Jet? Or is this another woopsie item?

Warning about Nitrogensports.eu
https://bitcointalk.org/index.php?topic=709114.0
cedivad
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December 09, 2013, 05:02:40 PM
 #3755

Anyway, hashfast still no word on what mining controller is coming with the Baby Jet? Or is this another woopsie item?
I told you already, back in the early days they said that the controller of the BJ would be a RPi (raspberry pi).

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
minternj
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December 09, 2013, 05:04:08 PM
 #3756

Anyway, hashfast still no word on what mining controller is coming with the Baby Jet? Or is this another woopsie item?
I told you already, back in the early days they said that the controller of the BJ would be a RPi (raspberry pi).

I guess you didnt see that post from hashfast_cl. Can't dig it up at the moment.

Warning about Nitrogensports.eu
https://bitcointalk.org/index.php?topic=709114.0
cedivad
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December 09, 2013, 05:08:41 PM
 #3757

I guess you didnt see that post from hashfast_cl. Can't dig it up at the moment.
Np, i have time to lose atm, i will be happy to search for it...

Ok, can't find anything but this:
https://bitcointalk.org/index.php?topic=262052.msg3316933#msg3316933

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
bitcoinermax
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December 09, 2013, 05:28:22 PM
 #3758

To all the clever clogs on this forum who claim HF should have hedged BTC in order to provide BTC refunds, can you please explain how you think this can be done in the absence of a proper forward market for BTC? And if you do know of such a market, then please enlighten the rest of us.

You might also want to pause and consider for a moment - if the co had kept the BTC, how do you think they funded the design and production of the chip and what do you think it costs to fund such a thing? And why do you think all of these companies need pre sales if not to pay for their chip development? this applies not only for HF but also their competitors. if any of the ASIC companies were so well funded that pre sales are not required, then they would either have sold the gear at higher prices or the 1st anyone would know of them is when the hash rate spiked up....


Gyrsur
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December 09, 2013, 05:48:31 PM
 #3759

To all the clever clogs on this forum who claim HF should have hedged BTC in order to provide BTC refunds, can you please explain how you think this can be done in the absence of a proper forward market for BTC? And if you do know of such a market, then please enlighten the rest of us.

You might also want to pause and consider for a moment - if the co had kept the BTC, how do you think they funded the design and production of the chip and what do you think it costs to fund such a thing? And why do you think all of these companies need pre sales if not to pay for their chip development? this applies not only for HF but also their competitors. if any of the ASIC companies were so well funded that pre sales are not required, then they would either have sold the gear at higher prices or the 1st anyone would know of them is when the hash rate spiked up....




if you can't hedge or save the funds of the batch one customers (especially if you claimed to give the refund in the order currency) use USD. did they pay the necessary steps after the orders with BTC. I dont think so. so no need to receive BTC from customers. time pressure? it seems not because no devices are delivered so far. normal wire transfer would did the job.

their marketing was great. the best of all ASIC producers with MPP. but now they have to deliver. "put your money where your mouth is" HF!
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December 09, 2013, 05:56:58 PM
 #3760

To all the clever clogs on this forum who claim HF should have hedged BTC in order to provide BTC refunds, can you please explain how you think this can be done in the absence of a proper forward market for BTC? And if you do know of such a market, then please enlighten the rest of us.

You might also want to pause and consider for a moment - if the co had kept the BTC, how do you think they funded the design and production of the chip and what do you think it costs to fund such a thing? And why do you think all of these companies need pre sales if not to pay for their chip development? this applies not only for HF but also their competitors. if any of the ASIC companies were so well funded that pre sales are not required, then they would either have sold the gear at higher prices or the 1st anyone would know of them is when the hash rate spiked up....

You're needlessly complicating this.  If refunds in BTC were impossible or even improbable -- for any reason -- such refunds should not have been offered.  Making impossible promises has a name: it's called lying.
This is trivial stuff.
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