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Author Topic: HashFast announces specs for new ASIC: 400GH/s  (Read 880223 times)
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January 05, 2014, 11:35:02 PM
 #6321

HashFast really needs to clean ship here. They appear to have a good engineering team, but their sales and marketing is the worst I've seen.

Well you got that wrong IMHO. "A good engineering team" which needed a few weeks (a month?) and 3 PCB revisions just to get the device up to nominal hashing speed? They couldn't get it hashing for big Bitcoin events when their sales directly depended on it. KnC did that in a single day. With additional testing for maximum overclocking speed before they went for supper.

On the other hand, they have a sales team which scammed the whole (usually paranoid) Bitcointalk community with ease, even getting that community to send BTC while forgetting to ask for "full BTC refund" in writing.

I think you have to revise your assessment of their teams quality.
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January 05, 2014, 11:39:49 PM
 #6322

I keep seeing people say HashFast is investor backed. Where is that information coming from?

A myriad of places, like the following for example: http://decentralizedhashing.com/2013/09/hashfast-tapeout-sierra-mpp-new-next-gen-chip/

Quote
HashFast Tapeout, Sierra, MPP, New Next Gen Chip

2013/09/21News

Since the last update we’ve seen HashFast tapeout, create a miner protection program, let us know they are working on another chip, and released a new option for miners, the Sierra.

Having founded Devicescape Software in late 2000, Eduardo de-Castro and Simon Barber are not new to venture backed start-ups.  Devicescape specializes in wifi connectivity.  After becoming successful in this business for a number of years Simon became interested in Bitcoin and wrote his white paper.  This was 2011, the same year he was courting investors to help him make an ASIC.

Unfortunately it was too early in the game, and they weren’t ready to sign on.  “It was disappointing and frustrating. He really believed at the time (rightfully so) that we had a great idea. Today  – many of those investors regret not funding him the first time,” says John Skrodenis.  Well apparently they did come around, investing enough to design and tapeout the Golden Nonce (GN) chip with the largest, most experienced team that bitcoin mining has seen.

After going through their short list of possible design teams, they found Uniquify to be the most experienced and able.  The HashFast team worked on conceptual, front end, and logic, leaving the physical design and management of the fabrication to Uniquify.  Their engineers have a great deal of experience in this area, and HashFast was able to create a team from which even the most junior member had already been involved in designing ten 28nm chips.  Being the only company that is designing chips with a team that has already been through many 28nm tapeouts could be a huge advantage.

In a recent interview Simon Barber told me that they paid a premium be able to hand pick the best engineers from their company.   Since Uniquify has been through the process so many times they were able to help smooth the process out, and give a gestalt view.  This greater awareness of the situation allowed HashFast to choose the most appropriate path for a chip designed to mine bitcoin.  For instance, some semiconductor manufacturers emphasize low cost over speed.

Normally this wouldn’t be too much of an issue, but bitcoin?  The difficulty is doubling every month, recently.  Every delay counts.  Many of the 28nm chips began at the same time, after people realized that Avalon and Butterfly labs could use a little competition.  The race is so close that if one company cuts costs a little by using a slower process, they and their customers could be left behind.

Uniquify directed HashFast to Taiwan Semiconductor Manufacturing Company Limited (TSMC).  The largest semiconductor manufacturer, a couple distinct advantages of going with TSMC are fast production, and low error rate.  With the large infrastructure, and stability that brings, it looks like HashFast customers can feel assured that everything possible has been done to secure their future mining profits.

Another way that HashFast is giving their customers a leg up is through their Miner Protection Program (MPP).  The Baby Jets in the first batch are automatically protected.  Miners from batch two have the option to buy into the MPP.  For those that have it, they are guaranteed up to 400% additional hashing power if the difficulty rises fast enough that your machine doesn’t pay for itself.

For instance with a Baby Jet you start with 400GH, and could get an additional 1.6TH for a total of 2TH.  For a current order this would add an additional $1,500 to the original price of $3,500 for a total of $5,000.  At this point we don’t know exactly when the extra equipment would ship so it’s difficult to give estimates on what kind of ROI this will give.  There’s no other deal quite like it, though.

HashFast also announced their Sierra recently.  As you can see here the return is exceptional.  This 1.2TH machine goes for $9,500.  Or if you think the difficulty will destroy your return you can add the MPP on for a total of $14,000.  This would give the potential of 4.8TH.  Or perhaps more.

Simon Barber on Bitcointalk, “One highly relevant feature regarding power use is that the GN chip incorporates on-die temperature sensors and a control system designed to adjust voltage and clock speed to the capacity of the cooling system.  Thus if the cooling system can dissipate a greater amount of heat, the software can “overclock” the chip to fit it’s power usage to the heat dissipation capacity, and produce greater hashing capacity.”

You can assume that room temperature has a great deal to do with how well the cooling system works.  Looks like we need a place with a cold climate and cheap electricity.  Will someone please set up a tidal generator near the North or South Pole, and host there?

Speaking of hosting, HashFast has tentatively announced that they are working on an option.  According to a recent post we should be hearing back from them soon.  This can have a number of benefits.  The company that designs and creates a product is often the best placed to repair, upgrade, and optimize performance.  Hosting opens up the market for those that can’t mine their selves.  The only barrier left is the large price tag of the most efficient models, like the Sierra.  Since I believe that HashFast is relatively undervalued, and nobody has jumped in to create a group buy specifically for them, I’ve decided to start putting some effort toward that here.

With all the work that the HashFast team has put in, it seems they would be ready to sit down for a second and catch their breath.  Apparently they are going farther than anyone currently imagines.  FinFET is a 3d structure that gives transistors a greater capacity, and utility.  There are a few things to overcome before the manufacturing process can be streamlined.  The design will also be quite a new terrain.

In conclusion, if you are watching the market of bitcoin mining equipment manufacturers there are a lot of companies vying for attention.  If you’re still not sure of what company you should be with, HashFast deserves a good look.

=====================================

And here, among other things (in yellow): http://www.coindesk.com/hashfast-tapes-out-400-ghsec-28-nm-mining-chip/

Quote
HashFast has reached the tape-out stage for its 28 nm mining ASIC, and expects chips from TSMC in time to ship boxes by late October.

The firm, started by Simon Barber and Eduardo de Castro, is preparing the Baby Jet ASIC miner, which will sell for $5,600, and use its ‘Golden Nonce’ chip. The chip will provide a nominal 400 GH/sec hash rate, operating at under 1 W per GH/sec.

Barber originally envisioned a 65 nm ASIC, but originally failed to raise funding from skeptical investors. When bitcoin prices ramped up earlier this year, the investors got interested, and the firm raised “in the range of” $700,000.

In July, the firm officially signed an agreement with Uniquify, a California-based silicon-on-chip design firm, who will be using TSMC to fabricate the chips.

Like KnCMiner, the firm is being conservative about its projected performance, refusing to publish anything more than a nominal performance rate, but acknowledging that it could be overclocked.

“We are pushing boundaries in multiple areas on this product, and we want to keep our projections reasonable and keep some safety margin in there,” Barber said. “We are including an oversized cooling system that should be able to cool this with no problem at all but until you get real hardware in your hands it’s hard to provide guarantees.”

HashFast is aiming to get its first units out at the end of October, depending on how board installation goes. The rest of the units will ship “early thereafter”. It will also offer customers a full refund if they haven’t got the promised hash rate performance by the end of December, Barber promises.

It has also started a miner protection program, to help insure customers against difficulty that rises too quickly.

If the network difficulty rises so quickly that a miner doesn’t generate more bitcoins than the customer paid for it, then the firm will offer additional hashing power in the form of more ASICs.

It will calculate the hash rate shortfall if a box fails to reach ROI over a three-month period, and will then send the customer twice that hash rate to compensate. The protection program has a ceiling though: if the difficulty goes through the roof, the firm will only ship up to four times the original hashing power purchased.

“This is our attempt to ensure that our customers will get a good ROI,” Barber said. The protection mechanism works only in bitcoins, and won’t take account of the bitcoin/USD exchange rate at the time of purchase.


This is where the $2.8 per GH/sec rate on the firm’s web site comes in. The chips deliver that price-performance ratio in the most extreme case under the miner protection program, if a customer purchased the Baby Jet and the company shipped four times the 400 GH/sec capacity to the customer later, for a total of 2 TH/sec. Assuming that the miner protection program doesn’t kick in, then the price per GH/sec is $14 at the nominal hash rate.

The firm is already well into development for its second-generation chip, which uses a FinFet design. FinFet uses 3D structures, in which the microscopic transistors on the chip rise above the planar substrate on the chip. This gives them more volume than a traditional transistor gate, which enables them to conduct electricity more effectively, reducing the necessary voltage and increasing switching performance. The result is a faster, lower-power chip.

“It’s the most aggressive design available in our time schedules,” said Barber, who believes he’ll be taping out this chip in the fourth quarter. He wouldn’t say what process node the design used, but CoinDesk notes that last year, TSMC announced plans for a 16 nm FinFet capability in early 2014.
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January 05, 2014, 11:39:55 PM
 #6323

HashFast really needs to clean ship here. They appear to have a good engineering team, but their sales and marketing is the worst I've seen.

Well you got that wrong IMHO. "A good engineering team" which needed a few weeks (a month?) and 3 PCB revisions just to get the device up to nominal hashing speed? They couldn't get it hashing for big Bitcoin events when their sales directly depended on it. KnC did that in a single day. With additional testing for maximum overclocking speed before they went for supper.

On the other hand, they have a sales team which scammed the whole (usually paranoid) Bitcointalk community with ease, even getting that community to send BTC while forgetting to ask for "full BTC refund" in writing.

I think you have to revise your assessment of their teams quality.


In writing? forgetting to ask for "full BTC refund" in writing. the TOS clearly states full refund via payment
Quote
2. PURCHASE AND PAYMENT.

(a) Guaranteed Baby Jet Delivery Dates. All of the 550 Baby Jet units from

Hashfast's first production batch are guaranteed for delivery by December 31,

2013. If Buyer ordered one or more units of such Baby Jets, and Hashfast does not

deliver such units by that date, then Buyer may cancel the undelivered portion of

the order at Buyer's request and Hashfast will refund the payment for the units

that Buyer purchased but did not receive and cancelled. This cancellation and

refund is Buyer's sole and exclusive remedy for Hashfast failing to deliver by the

December 31, 2013 guaranteed delivery date, and Buyer must cancel the order by

January 15, 2014 to avail itself of this remedy.

Bitcoinica still has not given me 50% of my claim of 600 BTC
INTERSANGO can go down with bitcoinica for abandoning customers
Alberto Armandi is a SCAMMER
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January 05, 2014, 11:45:54 PM
 #6324

In writing? forgetting to ask for "full BTC refund" in writing. the TOS clearly states full refund via payment
Quote
2. PURCHASE AND PAYMENT.

(a) Guaranteed Baby Jet Delivery Dates. All of the 550 Baby Jet units from

Hashfast's first production batch are guaranteed for delivery by December 31,

2013. If Buyer ordered one or more units of such Baby Jets, and Hashfast does not

deliver such units by that date, then Buyer may cancel the undelivered portion of

the order at Buyer's request and Hashfast will refund the payment for the units

that Buyer purchased but did not receive and cancelled. This cancellation and

refund is Buyer's sole and exclusive remedy for Hashfast failing to deliver by the

December 31, 2013 guaranteed delivery date, and Buyer must cancel the order by

January 15, 2014 to avail itself of this remedy.

Well, mate, good luck putting that equality sign between these two things in the court. I'm not saying it can't be done, but don't you think it would be a whole lot easier if you would have ""full BTC amount" instead of "payment"?
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January 05, 2014, 11:59:54 PM
 #6325

In writing? forgetting to ask for "full BTC refund" in writing. the TOS clearly states full refund via payment
Quote
2. PURCHASE AND PAYMENT.

(a) Guaranteed Baby Jet Delivery Dates. All of the 550 Baby Jet units from

Hashfast's first production batch are guaranteed for delivery by December 31,

2013. If Buyer ordered one or more units of such Baby Jets, and Hashfast does not

deliver such units by that date, then Buyer may cancel the undelivered portion of

the order at Buyer's request and Hashfast will refund the payment for the units

that Buyer purchased but did not receive and cancelled. This cancellation and

refund is Buyer's sole and exclusive remedy for Hashfast failing to deliver by the

December 31, 2013 guaranteed delivery date, and Buyer must cancel the order by

January 15, 2014 to avail itself of this remedy.

Well, mate, good luck putting that equality sign between these two things in the court. I'm not saying it can't be done, but don't you think it would be a whole lot easier if you would have ""full BTC amount" instead of "payment"?

This is not a problem as the ToS clearly defines 'the payment' as:

Quote
Payments are due in the amounts, in the currency, and at the time stated in the order or confirmation sent by Hashfast, or if not so stated: (a) paid in Bitcoin

https://hashfast.com/checkout/terms-of-sale/

So I your payment was a certain amount of BTC. A full refund of the payment is the return of same amount of BTC.
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January 06, 2014, 12:05:53 AM
 #6326

In writing? forgetting to ask for "full BTC refund" in writing. the TOS clearly states full refund via payment
Quote
2. PURCHASE AND PAYMENT.

(a) Guaranteed Baby Jet Delivery Dates. All of the 550 Baby Jet units from

Hashfast's first production batch are guaranteed for delivery by December 31,

2013. If Buyer ordered one or more units of such Baby Jets, and Hashfast does not

deliver such units by that date, then Buyer may cancel the undelivered portion of

the order at Buyer's request and Hashfast will refund the payment for the units

that Buyer purchased but did not receive and cancelled. This cancellation and

refund is Buyer's sole and exclusive remedy for Hashfast failing to deliver by the

December 31, 2013 guaranteed delivery date, and Buyer must cancel the order by

January 15, 2014 to avail itself of this remedy.

Well, mate, good luck putting that equality sign between these two things in the court. I'm not saying it can't be done, but don't you think it would be a whole lot easier if you would have ""full BTC amount" instead of "payment"?

This is not a problem as the ToS clearly defines 'the payment' as:

Quote
Payments are due in the amounts, in the currency, and at the time stated in the order or confirmation sent by Hashfast, or if not so stated: (a) paid in Bitcoin

https://hashfast.com/checkout/terms-of-sale/

So I your payment was a certain amount of BTC. A full refund of the payment is the return of same amount of BTC.

I'm sure it was converted to Fiat right away. That and prices risen tenfold. But good luck in your quest for a refund

Avalanche is a must own
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January 06, 2014, 12:15:53 AM
 #6327

Do I sense a growing battle between Batch 1 customers and Batch 2, 3 and 4?

Batch 1 customers failed to get their hardware on time. Now they are seeking the return of their (substantial) funds. While Batch 2, 3 and 4 are probably worried of the ship sinking before they get theirs. (well not that it matters even if they did)

Someone should start a poll to see how Batch 2, 3 and 4 customers feel about this whole drama. Especially how they feel about Batch 1 customers on their "refund standoff".

We are on day 5 of the new year and there are only 26 days left until the next (Batch 2) deadline. If it goes south for Batch 1, then Batch 2 probably won't hold their complaints to themselves or probably even wait until the deadline.

Quite the Pinch HashFast finds themselves in...
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January 06, 2014, 06:59:26 AM
 #6328

Has someone done a nice chart yet if its is even possible to get a full ROI. Otherwise im going to start hoping they just dont deliver and refund in full BTC
Not withstanding what was said to one guy in a closed office, do you really think they are going to take a 200% loss refunding essentially every BTC payment batch 1 customer at $300/BTC (if the price stays the same until December) when most of them paid at $100/BTC?

That is a rhetorical question BTW, as this is a company that accepted orders under one set of Terms and Conditions, and then sent out order confirmations a week later with an updates terms link on the bottom that added a new "guaranteed" date to the end of the year all while claiming the new conditions apply retroactively and that refunds are not possible prior to then.

They'll do what they please.

You have the option of paying through Bitpay or directly to a HashFast's Bitcoin address when you placed an order.

HashFast kept 3,000 Bitcoins in this address and probably more in other addresses, so yes they can indeed afford to refund BTC for BTC without taking a loss.

https://blockchain.info/address/1KFrqkEGy6Yq7X4SYCbYoj8HEwfbWVUDJ9

A PM bird suggested that I should bump this forward.
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January 06, 2014, 09:34:07 AM
 #6329

Has someone done a nice chart yet if its is even possible to get a full ROI. Otherwise im going to start hoping they just dont deliver and refund in full BTC
Not withstanding what was said to one guy in a closed office, do you really think they are going to take a 200% loss refunding essentially every BTC payment batch 1 customer at $300/BTC (if the price stays the same until December) when most of them paid at $100/BTC?

That is a rhetorical question BTW, as this is a company that accepted orders under one set of Terms and Conditions, and then sent out order confirmations a week later with an updates terms link on the bottom that added a new "guaranteed" date to the end of the year all while claiming the new conditions apply retroactively and that refunds are not possible prior to then.

They'll do what they please.

You have the option of paying through Bitpay or directly to a HashFast's Bitcoin address when you placed an order.

HashFast kept 3,000 Bitcoins in this address and probably more in other addresses, so yes they can indeed afford to refund BTC for BTC without taking a loss.

https://blockchain.info/address/1KFrqkEGy6Yq7X4SYCbYoj8HEwfbWVUDJ9

A PM bird suggested that I should bump this forward.

Huh, close to 2/3 of that could be me and my partner's btc... those coins even match very closely to the date that the btc was sent.
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January 06, 2014, 12:03:19 PM
 #6330

have you seen that ?
http://www.coindesk.com/asic-manufacturer-hashfast-faces-legal-action/
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January 06, 2014, 12:12:27 PM
Last edit: January 06, 2014, 12:32:23 PM by Witness
 #6331

It's funny how they have two units on a Pallet and claim shipment. Making like they was on full production. Fkn idiots. Can someone find out if Amy was in with btc for kinki prostitution. I really want to know, it's lik reading thier resume.

_HashFast Technologies_28 nm mining
Producer of High Performance ASICS  (IT'S A SCAM)
BabyJets & Sierras On Sale today!
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January 06, 2014, 12:22:42 PM
 #6332

Is this good or bad  I Can't tell
I'm glad we got the point to Coindesk

_HashFast Technologies_28 nm mining
Producer of High Performance ASICS  (IT'S A SCAM)
BabyJets & Sierras On Sale today!
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January 06, 2014, 03:15:15 PM
 #6333

So 'Luke', 'Rodrigo' and 'Tico' are in reality the same person?  Grin

¡FUCKING YES!

Lol
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January 06, 2014, 03:42:09 PM
 #6334

I can't believe that coindesk had the courage of publishing such a misleading article.

They are moderating the comments, and we can't even reply to the people who accuses us to be wanting to stole from HF.

I can't believe this.

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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January 06, 2014, 03:49:45 PM
 #6335

My comments were approved, but that's too little, too late.
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January 06, 2014, 03:57:59 PM
 #6336

Do I sense a growing battle between Batch 1 customers and Batch 2, 3 and 4?

Batch 1 customers failed to get their hardware on time. Now they are seeking the return of their (substantial) funds. While Batch 2, 3 and 4 are probably worried of the ship sinking before they get theirs. (well not that it matters even if they did)

Someone should start a poll to see how Batch 2, 3 and 4 customers feel about this whole drama. Especially how they feel about Batch 1 customers on their "refund standoff".

We are on day 5 of the new year and there are only 26 days left until the next (Batch 2) deadline. If it goes south for Batch 1, then Batch 2 probably won't hold their complaints to themselves or probably even wait until the deadline.

Quite the Pinch HashFast finds themselves in...


A battle?
Probably because the batch 2,3,4 are beginning to fear they will not see no products and no refunds.
At least the customers in batch 1 might get some money back , but for the rest ... adieu

  BTC
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BTC
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BTC
..JAMBLER.io..
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YOUR OPPORTUNITY TO
HAVE BITCOIN BUSINESS

██
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BTC
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January 06, 2014, 04:02:03 PM
 #6337

You can comment about the article on Facebook too - https://www.facebook.com/coindesk/posts/535717913202516

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January 06, 2014, 04:37:24 PM
 #6338

Lordy, I step away from here for a few days, and look what Phinnaeus Gage turns up.  Wow.  Thank you.  I'm still trying to piece it all together, but wow, nice job.

Speaking of sex, of course we know that Johnny Scrotum was a marketer for kink.com.  One thing I was planning to do was to try to take a look into his former company, Kt Productions, registered in Dublin, CA:

http://www.wysk.com/index/california/dublin/mpw8t4j/kt-productions-inc/profile

It seems that this may have been a porn production company.  I wonder what they produced.

Scrotum's role at Hashfast seems to make even more sense if Phinnaeus Gage has in fact discovered that the freakish muscle porn prostitute whatever the hell he is dude is a power behind the scenes.  Perhaps they met on the set?

My own rummaging around on Eduardo-san has been limited.  He's easily tracked back to a crummy apartment north of University of Texas campus, where he got an MBA, but I've found little so far after that.  Appears to be either an immigrant (explaining the lack of older records) or another name changer.  Phinnaeus?

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January 06, 2014, 04:38:53 PM
 #6339

Has anyone put together a list of wallet addresses HF used?

The only one I've seen is:

https://blockchain.info/address/1KFrqkEGy6Yq7X4SYCbYoj8HEwfbWVUDJ9
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January 06, 2014, 05:42:25 PM
Last edit: January 06, 2014, 10:07:45 PM by Phinnaeus Gage
 #6340

Lordy, I step away from here for a few days, and look what Phinnaeus Gage turns up.  Wow.  Thank you.  I'm still trying to piece it all together, but wow, nice job.

Speaking of sex, of course we know that Johnny Scrotum was a marketer for kink.com.  One thing I was planning to do was to try to take a look into his former company, Kt Productions, registered in Dublin, CA:

http://www.wysk.com/index/california/dublin/mpw8t4j/kt-productions-inc/profile

It seems that this may have been a porn production company.  I wonder what they produced.

Scrotum's role at Hashfast seems to make even more sense if Phinnaeus Gage has in fact discovered that the freakish muscle porn prostitute whatever the hell he is dude is a power behind the scenes.  Perhaps they met on the set?

My own rummaging around on Eduardo-san has been limited.  He's easily tracked back to a crummy apartment north of University of Texas campus, where he got an MBA, but I've found little so far after that.  Appears to be either an immigrant (explaining the lack of older records) or another name changer.  Phinnaeus?


De Castro and Barber's relationship goes back over a dozen years: http://en.wikipedia.org/wiki/Devicescape_Software

Long Dong Johnson and Scrotum have been connected for who knows how long now, but it's been awhile, both together at the onset of kink.com. Some dude in Nashville put together btckink to help facilitate payment to said site, and perhaps that's where Frick and Frack first learnt about Bitcoin, if not earlier.

I may have to fire up my copy of Mt Gox's email dump to see if I can glean any further connections.
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