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Author Topic: HashFast announces specs for new ASIC: 400GH/s  (Read 877762 times)
RoadStress
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December 13, 2013, 11:58:34 PM
 #4081

Can you believe that i went to this page before writing it and yet i got it wrong? http://web.ku.edu/~edit/lie.html
I guess that this time i will just use google translate. Thanks.


I noticed your sig 2 days ago and i actually looked twice because i couldn't believe it. And then i just got struck by the same question. How on earth nobody else said anything  Shocked Then i laughed and moved on.

H/w Hosting Directory & Reputation - https://bitcointalk.org/index.php?topic=622998.0
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cedivad
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December 14, 2013, 12:04:52 AM
 #4082

No, i changed my sign today, so that can't be the case. Actually, i changed it twice today, from lied to laid and from laid to lied again (i got it right the first time). Anyway, this is just a bit of an useless ot 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
ninjarobot
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December 14, 2013, 12:05:34 AM
 #4083

There was no "december 31st" date and there was no "mining protection plan". Just a 400+ GH/s miner promised in October at well under 1 W/GH/s

True.

Check out the original announcement for example: https://bitcointalk.org/index.php?topic=270384.msg2894615#msg2894615
Or the original ToS: http://pastebin.com/EfS9vmRf
VolanicEruptor
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December 14, 2013, 12:14:59 AM
 #4084

Aren't they based in Canada?  I live in Canada... maybe I should try to go after these assholes for false advertising.   Grin  

perezoso
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December 14, 2013, 12:18:09 AM
 #4085

Well, now that it's pretty clear to a lot of people that October was a fraudulent claim, Hashfast is going to *have* to do something to fix the situation with Batch 1 customers, if they know what's good for them.  

They haven't angered a crowd of acne-ridden 16 year olds with Asperger's, they've pissed off customers that include a number of capable and determined people.  The "BFL model" is not going to work for them. In this case, the ripped off seem likely to much more seriously fight back.  

No, they are not Canadian. The contract assembly house is in Montreal, though.
VolanicEruptor
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December 14, 2013, 12:22:35 AM
 #4086

Well, now that it's pretty clear to a lot of people that October was a fraudulent claim, Hashfast is going to *have* to do something to fix the situation with Batch 1 customers, if they know what's good for them.  

They haven't angered a crowd of acne-ridden 16 year olds with Asperger's, they've pissed off customers that include a number of capable and determined people.  The "BFL model" is not going to work for them. In this case, the ripped off seem likely to much more seriously fight back.  

No, they are not Canadian. The contract assembly house is in Montreal, though.

Know the address in Montreal?

cedivad
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December 14, 2013, 12:25:45 AM
 #4087

Know the address in Montreal?
They have nothing in canada. Don't waste your time.

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
VolanicEruptor
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December 14, 2013, 12:26:10 AM
 #4088

Know the address in Montreal?
They have nothing in canada. Don't waste your time.

do you work for them?

paranoidx
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December 14, 2013, 12:27:18 AM
 #4089

Aren't they based in Canada?  I live in Canada... maybe I should try to go after these assholes for false advertising.   Grin  

Nope.  Another American company (based in San Francisco).
Went with them instead of another KNC miner since they were local.  Bad Idea.

Now since units are in "mass production" my questions are:
1. When will the BJs start shipping?
2. When is Batch 2 shipping?
3. When is the MPP expected to start shipping?

Everything should be a lot faster now since they secured contracts with all these companies like CIARA right??.. right??
cedivad
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December 14, 2013, 12:30:40 AM
 #4090

Know the address in Montreal?
They have nothing in canada. Don't waste your time.
do you work for them?
No. They are out sourcing the assembly in canada. That's all. All what you will find is an outsurced assembly house. Do you really want to go there?

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
ImI
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December 14, 2013, 12:34:20 AM
 #4091

Well, now that it's pretty clear to a lot of people that October was a fraudulent claim, Hashfast is going to *have* to do something to fix the situation with Batch 1 customers, if they know what's good for them.  

Well thats exactly what they thought also, back in august. And they decided to setup the MPP for batch1 customer compensation.

So it all stands and falls more or less with the MPP and the handling of the MPP.

Given a MPP that stands up to the expectations a breakeven BTC-ROI is still possible.
HashFast_CL
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December 14, 2013, 12:45:08 AM
 #4092

Am I the only one to find this HF bragging about speed increase insulting to intelligence? @HF_CL: It is totally irrelevant if chip hashes at 300, 500 or 700 GHs. It will mine >50% of it's lifetime returns in the first 2 months or less of it's total mining life. The position of these 2 months on the timescale determine the total value of the product, so the only important thing for all of us about your product is it's shipping date. Correction: other important thing is shipping speed, since it can also mess with a few days of mining. Hashing speed is totally irrelevant, since 25% increase is worthless because it is negatively compensated at least that much when difficulty increases >25% every 11 days. I know there's no way you don't understand these simple facts, so yours "Wov, 550GHs!" makes me really offended. Do you really think you are dealing with idiots?

What i don't understand is the bragging while they only got 2 cores out of 4 to work. I know that it's easy to multiply by 2 the speed that you got with 2 cores and they may get that speed, but bragging without actually having a proof is just lame and sad.

Roadstress,

Per Eduardo, all 4 Golden Nonce "cores" (dies actually) are working to produce the announced 500GH/sec speed.
   Smiley

Our next blog post will elaborate on the details.


itod,

The promised mining speed of 400GH is what HashFast's customers paid for.

Exceeding that advertised minimum by a whopping 100+ GH (25%) is highly relevant to their ROI, regardless of difficulty.

If we only shipped 300GH instead of 400GH, I'm sure HashFast customers would find that anything but "totally irrelevant."

CIARA has tremendous logistical experience which should benefit HashFast customers by reducing shipping times to the minimum possible.

Quote
http://www.ciaratech.com/product.php?id_prod=305&lang=en&id_cat1=5&id_cat2=39



CIARA ships daily in large volumes from our 14 loading docks.

We have the ability to ship via all transportation modes as we are located less than 2 miles from the FEDEX, UPS and DHL hubs as well as being less than 4 miles from Montreal International Airport. Having this proximity allows CIARA shorter transit times than most agents. CIARA offers flexible shipping hours spanning from early in the morning to midnight at month or quarter ends. Whether it is during the regular day, end of month, quarter, year or simply an urgent shipment CIARA will get your shipment out.

Export compliance management can be very confusing as it is constantly changing. Managing this for our customers is not a problem as it is a daily occurrence. Whether you are shipping domestically or internationally, CIARA has the logistical experts that can prepare your paperwork, guide your shipment while reducing your freight expense.

Of course the sooner we ship the better, and we anticipate meeting the Dec 31 deadline for Batch 1.

Best,

-HF_CL

"Bitcoin enables ordinary people to fight back, to avoid and evade snooping governments, which enact, use and abuse laws that allow them, without due process, to investigate, tax, control and seize privately owned assets."  -   Leon Louw

“We can say without equivocation that firms like MasterCard, Visa and the TBTF banks like JPMorgan and Goldman hate the idea of ever having to compete for business again. They have grown comfortable in their corrupt world of writing laws for themselves without any regulatory oversight. They enjoy the exorbitant privilege of bilking the American economy with extortionary transaction rates. They are scared of Bitcoin. And they should be. It offers transparency, cost efficiency and anonymity.” - Max Kaiser
cedivad
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December 14, 2013, 12:52:54 AM
 #4093

Quote
Exceeding that advertised minimum by a whopping 100+ GH (25%) is highly relevant to their ROI, regardless of difficulty.
BS and you know it.

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
VolanicEruptor
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December 14, 2013, 12:55:44 AM
 #4094

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Exceeding that advertised minimum by a whopping 100+ GH (25%) is highly relevant to their ROI, regardless of difficulty.
BS and you know it.

WHAT DID YOU JUST SAY?

RoadStress
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December 14, 2013, 12:57:34 AM
 #4095

Am I the only one to find this HF bragging about speed increase insulting to intelligence? @HF_CL: It is totally irrelevant if chip hashes at 300, 500 or 700 GHs. It will mine >50% of it's lifetime returns in the first 2 months or less of it's total mining life. The position of these 2 months on the timescale determine the total value of the product, so the only important thing for all of us about your product is it's shipping date. Correction: other important thing is shipping speed, since it can also mess with a few days of mining. Hashing speed is totally irrelevant, since 25% increase is worthless because it is negatively compensated at least that much when difficulty increases >25% every 11 days. I know there's no way you don't understand these simple facts, so yours "Wov, 550GHs!" makes me really offended. Do you really think you are dealing with idiots?

What i don't understand is the bragging while they only got 2 cores out of 4 to work. I know that it's easy to multiply by 2 the speed that you got with 2 cores and they may get that speed, but bragging without actually having a proof is just lame and sad.

Roadstress,

Per Eduardo, all 4 Golden Nonce "cores" (dies actually) are working to produce the announced 500GH/sec speed.
   Smiley

Our next blog post will elaborate on the details.


itod,

The promised mining speed of 400GH is what HashFast's customers paid for.

Exceeding that advertised minimum by a whopping 100+ GH (25%) is highly relevant to their ROI, regardless of difficulty.

If we only shipped 300GH instead of 400GH, I'm sure HashFast customers would find that anything but "totally irrelevant."

...

Of course the sooner we ship the better, and we anticipate meeting the Dec 31 deadline for Batch 1.

Best,

-HF_CL

I don't believe it until i see it.

H/w Hosting Directory & Reputation - https://bitcointalk.org/index.php?topic=622998.0
Jutarul
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December 14, 2013, 01:06:49 AM
 #4096

Quote
Exceeding that advertised minimum by a whopping 100+ GH (25%) is highly relevant to their ROI, regardless of difficulty.
BS and you know it.

WHAT DID YOU JUST SAY?
If it weren't for the fact that people massively suffer from it I'd find such an ignorant statement highly amusing.

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
"The way you solve things is by making it politically profitable for the wrong people to do the right thing.", Milton Friedman
HashFast_CL
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December 14, 2013, 01:09:06 AM
 #4097

I don't believe it until i see it.

Fair enough!  I will lobby the execs to put the test bed on Eligus so all may watch the fun in real-time.

The coins should go to Sean's Outpost, right?

Also, I'm sure we'll have video up ASAP.  Because 'Toob or it didn't happen!

"Bitcoin enables ordinary people to fight back, to avoid and evade snooping governments, which enact, use and abuse laws that allow them, without due process, to investigate, tax, control and seize privately owned assets."  -   Leon Louw

“We can say without equivocation that firms like MasterCard, Visa and the TBTF banks like JPMorgan and Goldman hate the idea of ever having to compete for business again. They have grown comfortable in their corrupt world of writing laws for themselves without any regulatory oversight. They enjoy the exorbitant privilege of bilking the American economy with extortionary transaction rates. They are scared of Bitcoin. And they should be. It offers transparency, cost efficiency and anonymity.” - Max Kaiser
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December 14, 2013, 01:10:39 AM
 #4098

Quote
Exceeding that advertised minimum by a whopping 100+ GH (25%) is highly relevant to their ROI, regardless of difficulty.
BS and you know it.
That doesn't make any lick of sense.

If I sell you equipment that makes bitcoins using 500GH/s and offer to ship it (per our plan) in October if you pay a very high premium. Then fail to send it within that time frame....

What you get is a machine that produces less product (bitcoins) as the days roll forward. Every 11 days, the machine losses a percentage of it's productive capacity.

If in the time from October till December the machine lost -90% of it's productive capacity....then a representative being "happy" to announce a +25% increase in efficiency makes no literal sense.

Why would someone be happy about a meager increase in efficiency if by the time it ships it will be completely negated by rising difficulty when it gets into it's customers hands? The machine might not even pay itself off due to decreasing efficiency at producing bitcoins.

------------------------

Why is this lost on the HashFast Representative?

Do you guys understand why your customers are so upset?

Do you require a flow chart to make it all come into focus?

           ▄▄█████████▄▄
       ▄████▀▀       ▀▀████▄
     ▄██▀▀               ▀▀██▄
    ██▀                    ████
   ██                     ███▀██
  ██                    ▄██▀   ██
 ██                    ▄██      ██
██▀                  ▄██▀      ▄███
██                  ▄██      ▄██▀██
██                 ██▀    ▄███▀  ██
██               ▄██▀   ▄██▀     ██
██▄             ▄██  ▄███▀      ▄██
 ██           ▄██▀ ▄██▀         ██
  ██         ▄██▄███▀          ██
   ██       █████▀            ██
    ██▄   ▄████▀            ▄██
     ▀██▄███▀            ▄▄██▀
       ▀████▄▄       ▄▄████▀
           ▀▀█████████▀▀
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ImI
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December 14, 2013, 01:14:36 AM
 #4099

Quote
Exceeding that advertised minimum by a whopping 100+ GH (25%) is highly relevant to their ROI, regardless of difficulty.
BS and you know it.
That doesn't make any lick of sense.

If I sell you equipment that makes bitcoins using 500GH/s and offer to ship it (per our plan) in October if you pay a very high premium. Then fail to send it within that time frame....

What you get is a machine that produces less product (bitcoins) as the days roll forward. Every 11 days, the machine losses a percentage of it's productive capacity.

If in the time from October till December the machine lost -90% of it's productive capacity....then a representative being "happy" to announce a +25% increase in efficiency makes no literal sense.

Why would someone be happy about a meager increase in efficiency if by the time it ships it will be completely negated by rising difficulty when it gets into it's customers hands? The machine might not even pay itself off due to decreasing efficiency at producing bitcoins.

------------------------

Why is this lost on the HashFast Representative?

Do you guys understand why your customers are so upset?

Do you require a flow chart to make it come into focus?

He didnt say that customers are "happy", did he!?

He said its "highly relevant". And yes, to me as a customer it is "highy relevant". If you dont give a shit about 400 GH/s or 500 GH/s well than go ahead and point your 100 GH/s to my wallet. Thx!
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December 14, 2013, 01:15:45 AM
 #4100

itod,

The promised mining speed of 400GH is what HashFast's customers paid for.

Exceeding that advertised minimum by a whopping 100+ GH (25%) is highly relevant to their ROI, regardless of difficulty.

If we only shipped 300GH instead of 400GH, I'm sure HashFast customers would find that anything but "totally irrelevant."

...

Best,

-HF_CL

I was positive you have figured out mining math, but now I'm not sure if this is not the case, or you are just pulling my leg. Let me ask you a question, please answer me this:
Do you think your customers would prefer
a) 300GHs on time (Oct 31st) or
b) 600GHs Dec 31st, two months late?

Which option, a) or b) would make them more money? Please think twice before answering this.

I still don't believe your answer will be wrong to this, you have to be pulling my leg with "GHs are important" nonsense.

Edit:
Let me change 400 to 300 under option a), so GHs unimportance would be more obvious.
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