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Author Topic: HashFast announces specs for new ASIC: 400GH/s  (Read 875470 times)
jspielberg
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January 14, 2014, 02:34:09 AM
 #6921

I got the same letter and refund check...

Want to know the kicker?

I never filled out a refund request (in any form).

They are FORCING REFUNDS for batch1.

Expect your letter whether you want it or not.  We now get to enjoy the forced 90% loss of investment plus the tax hit.

Forced USD refunds?!

That would put a whole new dimension to this.

Exactly... why make people go through the sham of having them send registered letters when they were just going to force refund at USD anyway.

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Kouye
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January 14, 2014, 02:36:04 AM
 #6922

Exactly... I did not request a refund... yet I got a fedex saying I had.  Foolish me... Since I hadn't request a refund, I actually thought they might be delivering miners.
Wait... There was a USD check enclosed, or just a statement that is was actually enclosed?

[OVER] RIDDLES 2nd edition --- this was claimed. Look out for 3rd edition!
I won't ever ask for a loan nor offer any escrow service. If I do, please consider my account as hacked.
jspielberg
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January 14, 2014, 02:36:32 AM
 #6923

Be nice for people to post roughly what they paid and what they got back in a refund.

I did not pay with USD, but BTC.

I got back a check from hashfast from the silicon valley bank for the USD price + 5%

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January 14, 2014, 02:37:42 AM
 #6924

Ouch!

I wonder if they kept the machines and are now mining. 
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January 14, 2014, 02:39:09 AM
 #6925

I got back a check from hashfast from the silicon valley bank for the USD price + 5%
I hope you fight back and win, this is a clear, textbook fraud. Those fuckers need to be put to an end.

[OVER] RIDDLES 2nd edition --- this was claimed. Look out for 3rd edition!
I won't ever ask for a loan nor offer any escrow service. If I do, please consider my account as hacked.
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January 14, 2014, 02:39:21 AM
 #6926

Ouch!

I wonder if they kept the machines and are now mining.  

Of course they are.  If they are forcing batch 1 refunds without being asked, they are simply mining with the equipment.

We've just given these guys a free loan to produce equipment and they've stolen our bitcoin.

They should be in jail.
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January 14, 2014, 02:41:26 AM
 #6927

Ouch!

I wonder if they kept the machines and are now mining.  

Of course they are.  If they are forcing batch 1 refunds without being asked, they are simply mining with the equipment.

We've just given these guys a free loan to produce equipment and they've stolen our bitcoin.

They should be in jail.

Did anyone else get a refund today that they did not request?

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January 14, 2014, 02:49:50 AM
 #6928

Ouch!

I wonder if they kept the machines and are now mining.  

Of course they are.  If they are forcing batch 1 refunds without being asked, they are simply mining with the equipment.

We've just given these guys a free loan to produce equipment and they've stolen our bitcoin.

They should be in jail.

Did anyone else get a refund today that they did not request?

Whats the submission date on your letter?
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January 14, 2014, 02:55:38 AM
 #6929

wow.... if they had ripped me off.... and i was within driving distance.....  guess where i'd be in the morning.....  Smiley
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January 14, 2014, 03:02:53 AM
 #6930

This discussion focused around the possibility that the units do not meet the safety standards required for consumer products/use, only commercial... see?

So in the original BabyJet announcement they were pretty clear that the equipment was only intended for use in commercial environments:

Quote
HashFast’s Golden Nonce (GN) is a 28nm ASIC chip that performs 400 Ghash/s at nominal clock speed and consumes less than 0.65 W/GH. It can be underclocked for greater efficiency and overclocked for greater performance. The chip has on-die thermal controls to allow operation at its absolute maximum performance.  This equipment is solely intended for use in commercial environments.

Otoh, according to John the Sierra is the Commercial grade product while the BabyJet is the Consumer grade product. See: http://www.youtube.com/watch?v=5yj-mmnRWYc&t=56s

So as usual with HF, a is b, left is right, BTC is USD, in stock is out of stock, exact dates are anticipated dates, guaranteed dates are intended dates, shipping is not shipping, good news is bad new, October is November, November is December, December is January, 2013 is 2014. you get the drift.
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January 14, 2014, 03:04:02 AM
 #6931

Reading this article, it appears they have the inventory but are late.  Old news here I am sure...
http://www.extremetech.com/uncategorized/173772-bitcoin-asic-manufacturer-hashfast-facing-lawsuits-over-alleged-false-advertising-fluctuating-bitcoin-prices

But this and their own website posts late December suggests they have the hardware.  So they must be using it if they didn't send it out and canceled orders.  Someone should call PG&E and see if their electric bill has gone up Wink.   Or see if a pool's hashing rate has made a big jump.

Paying back in cash will certainly create lawsuits that people can win (if I was on a jury, I would say switching currencies for refunds is clear case of fraud), but paying back in full would likely also bankrupt them before they can make enough cash mining...unless they get some investment money based on their hashing output now/future run rate.   Either way their future looks dim without some major investment money.

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January 14, 2014, 03:07:26 AM
 #6932

Registrant
Edward Decastro
340 11th Street
San Francisco, CA 94103
UNITED STATES
Telephone: 14157134813



current whois info for hashfast.com
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January 14, 2014, 03:08:22 AM
 #6933

Dear Mr.Teal,

I acknowledge your statement and as an honorable individual I will apologies for my disagreement with you original objection. You were correct in disagreeing with my loosely worded incomplete response #4.
It would have been better to state for commercial installation...

Thanks Mate and I appreciate you being a sounding board to quid pro que the topic. Cheers  
Of course, and I appreciate the discussion. I just wanted to make sure discussion didn't get out of hand about how HashFast was possible breaking the law by selling their products. There are plenty of actual illegal things they are doing to go after them in court.
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January 14, 2014, 03:15:50 AM
 #6934

Reading this article, it appears they have the inventory but are late.
That article seems to have swallowed some marketing deception whole cloth. Hashfast was saying they would ship before the end of the year up to the 30th of December. Come a week into January and they sent out a message saying January 28th.

If they "have the inventory" they'd be shipping it, instead they've just sent out some engineering samples one of which has been reported here to have reliability problems (the sierra where apparently 2/3 boards don't work).

I really doubt they're mining with it, since I don't think any of them want to go to prison. Catastrophes happen in business, and even if you think that HF is a bunch of fraudsters they're simply not likely to do something that would remove all doubt.

(Though if you want to speculate, there was a pretty large hashrate bump a couple days ago...  http://bitcoin.sipa.be/speed-lin-10k.png looks like an addition of another 100TH/s per day to the network since the 6th over and above the background growth)

Bitcoin will not be compromised
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January 14, 2014, 03:20:42 AM
 #6935

Just received a USD refund letter + check in response to my original full BTC payment refund request on Nov 10 and Jan 2:



For reference, my refund request is here

I did not fill out their USD refund & release form and did not request this. Getting so tired of these games.
It appears they are trying to entice their own customers with a lessor refund settlement. (75% -> 90% off)

When you see the check, just put squarely in your mind that they are ignoring your requests and are actively looking to settle your legitimate refund request with a much smaller amount in the wrong currency/property. (BitCoins)


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January 14, 2014, 03:23:03 AM
 #6936

Just received a USD refund letter + check in response to my original full BTC payment refund request on Nov 10 and Jan 2:



For reference, my refund request is here

I did not fill out their USD refund & release form and did not request this. Getting so tired of these games.

I got the same letter and refund check...

Want to know the kicker?

I never filled out a refund request (in any form).

They are FORCING REFUNDS for batch1.

Expect your letter whether you want it or not.  We now get to enjoy the forced 90% loss of investment plus the tax hit.
So you are openly asserting that they are not honoring their MPP?

Sounds like a very serious claim if it is the case.  Cheesy


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January 14, 2014, 03:23:53 AM
 #6937

By the way, it should go without saying that you should not cash your check. It is a settlement offer. If you cash it, you automatically lose all standing in court.


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analytics
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January 14, 2014, 03:31:39 AM
 #6938

Anyone have any explanation for the VERY notable hashing rate bump seen on the network around the 6th?  (gmaxwell just posted this above)
http://bitcoin.sipa.be/speed-lin-10k.png

Looking historically, there has never been a rise that dramatic, and it's notable.   It almost certainly has to be ASIC based.  Don't be fooled by the scale, that's a major processing power increase.

I'd look next for what pool that climb came from.
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January 14, 2014, 03:32:42 AM
 #6939

Reading this article, it appears they have the inventory but are late.
That article seems to have swallowed some marketing deception whole cloth. Hashfast was saying they would ship before the end of the year up to the 30th of December. Come a week into January and they sent out a message saying January 28th.

If they "have the inventory" they'd be shipping it, instead they've just sent out some engineering samples one of which has been reported here to have reliability problems (the sierra where apparently 2/3 boards don't work).

I really doubt they're mining with it, since I don't think any of them want to go to prison. Catastrophes happen in business, and even if you think that HF is a bunch of fraudsters they're simply not likely to do something that would remove all doubt.

(Though if you want to speculate, there was a pretty large hashrate bump a couple days ago...  http://bitcoin.sipa.be/speed-lin-10k.png looks like an addition of another 100TH/s per day to the network since the 6th over and above the background growth)

DeadTerra finally posted over in the icedrill thread that he had several test machines (not just the one amy sent i guess) and that they were still working out details with hashfast but that the other two principals were in quebec getting the data center ready for the machines.   I am paraphrasing so you, the mod, can delete this and put the actual quote in if you like.   I do not know how to do it.

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January 14, 2014, 03:46:19 AM
 #6940

What's doubling interesting is the rate of growth after that date is also higher in general, as if machines are being added at a greater rate in general post that first dramatic spike/turn on.

Just sayin'.....looks an awful lot like a bunch of powerful asic machines were added at once, and more are being added day by day....just sayin'

Any other hardware manufacturers shipping then?  It has to be asic based unless someone quite silly filled a few pods in a data center with non-asic computes that would cost buckets to run...eg doesnt' make sense, has to be asic.

It would be interesting to see if it's a single pool contributing that power and the rate increase.
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