HashFast announces specs for new ASIC: 400GH/s

[dropt]

300 boards/day * 3$k/board = $1m per day, in case someone didn't do the maths.

Useless to say that i would rather spend in boards rather than in lawyers.
Posted from Bitcointa.lk - #z59GfOHqxzQZMUDS

We don't know what their overhead/margin is.  At $4/GH for an incomplete solution, it's certainly not the best deal out there.

[cedivad]

Even if it was one third of that, 300k$/day, it is the best deal out there for Garret.

Free money for him, HF customers get screwed another time.
Posted from Bitcointa.lk - #IY5N3TOKe886MgGm

[jjiimm_64]

I am sorry to sound selfish... but I hope they stay in business somehow, so I can get my refund eventually.

[dropt]

Even if it was one third of that, 300k$/day, it is the best deal out there for Garret.

Free money for him, HF customers get screwed another time.
Posted from Bitcointa.lk - #IY5N3TOKe886MgGm

Uhh, no.   First, he would have to actually sell 300 units a day, every day.  Then there's the initial overhead of starting up the production line to recover.  That's not going to happen over night.  Garrett is likely taking on a lot of risk on this venture, and with risk comes reward.  You're essentially saying that every company that builds a product is getting "free money".

[cedivad]

Ok, let me rephrase with some numbers in it.

Garret pays $1m for 1 month of production, 300 boards/day. After that, he gives the production line to HF.
That's 10k boards. He is able to sell them at half the price of BitMain hardware, that's currently 2 BTC/board.
IN: $1m, free ASIC, free IP
OUT: 20k BTC in one month.

Does that sounds unrealistic to you? Fine, let's try with another example.

Garret pays $5m for 15 days of production (IMPOSSIBLY BAD NUMBERS), 300 boards/day. After that, he gives the production line to HF.
That's 5k boards. He is able to sell them at half the price of BitMain hardware, that's currently 2 BTC/board.
IN: $5m, free ASIC, free IP
OUT: 10k BTC in 15 days.

And you still ROI'd.

So now tell me, how is it possible that he gets to invest and make free money, while i have to spend on lawyers to force them to get what i was promised?
Posted from Bitcointa.lk - #hJ6rWn2KGr5o32XR

[dropt]

Ok, let me rephrase with some numbers in it.

Garret pays $1m for 1 month of production, 300 boards/day. After that, he gives the production line to HF.
That's 10k boards. He is able to sell them at half the price of BitMain hardware, that's currently 2 BTC/board.
IN: $1m, free ASIC, free IP
OUT: 20k BTC in one month.

Does that sounds unrealistic to you? Fine, let's try with another example.

Garret pays $5m for 15 days of production (IMPOSSIBLY BAD NUMBERS), 300 boards/day. After that, he gives the production line to HF.
That's 5k boards. He is able to sell them at half the price of BitMain hardware, that's currently 2 BTC/board.
IN: $5m, free ASIC, free IP
OUT: 10k BTC in 15 days.

And you still ROI'd.

Cognitive will not be getting any "free IP".  IP rights will most likely be retained by HF.  In fact, I'd guess that HF is just licensing the board design and selling chips to Cognitive.

So Cognitive has the overhead of:  PCB licensing; PCB manufacturing; Component sourcing and Purchasing; Assembly line tooling and production costs; and a whole host of other overhead costs.

I don't know what realistic costs are for each of those and I don't think throwing numbers at the wall to see what sticks is a very intelligent approach to the situation.  Further, using your current numbers Cognitive will only be getting a discount of ~14% over just purchasing BTC with their $5MM so it's not like they're making out like bandits.  

So now tell me, how is it possible that he gets to invest and make free money, while i have to spend on lawyers to force them to get what i was promised?

Well, call HF and tell them you have millions of dollars to spend on making their hardware. I'm sure they'd be more than happy to strike a deal with you.  Well, maybe not you, but you get my point.

What's more likely is that HF has "assured" Garrett x, y, and z.  We all know how apt HF is to "assure" things to people when asked, and how likely they are to follow through on their assurements/promises.  Maybe Garrett's unknowningly getting screwed hard here.  Maybe those licensing costs and chips sales from HF to Cognitive are going to give HF enough capital to start shipping out miners again.

[Minor Miner]

You guys do realize that "Garrett MacDonald" is Garr on these forums, right?  The guy who scammed tons of people out of money, lied about his shill bidding of auctions, etc...  

Wait isn't this the same GARR that has to sell 10 cointerras or so because he cannot get them running properly?    How is it possible that someone that cannot network and supply power to 10 Cointerras is able to set up production of 400 boards a day?    Does this even seem credible?

[cedivad]

Give me a phone number that works, or an email they reply to, and i will be happy to propose it to them. Same deal as of garret, nothing more, nothing else.

The deal is that garret will build the boards for himself, and after that (maybe it's written in the contract covered by that nda), HF will get the production line for free.

So pardon me, but i really don't see how HF could screw Garret.

By making him build a production line for nothing by withholding the chips from him, maybe? "hey, now that you built the production line and you miss the chips, what?"
Posted from Bitcointa.lk - #pOwn182MWr8OyPPp

[dropt]

You guys do realize that "Garrett MacDonald" is Garr on these forums, right?  The guy who scammed tons of people out of money, lied about his shill bidding of auctions, etc...  

Wait isn't this the same GARR that has to sell 10 cointerras or so because he cannot get them running properly?    How is it possible that someone that cannot network and supply power to 10 Cointerras is able to set up production of 400 boards a day?    Does this even seem credible?

Yes, it is.  Talk is cheap.  I'm sure that going from plugging in and configuring Cointerra units to managing a large-scale electronics assembly line is going to pose no great challenge [/s].   Though, stranger things have happened.

[dropt]

So pardon me, but i really don't see how HF could screw Garret.

By making him build a production line for nothing by withholding the chips from him, maybe? "hey, now that you built the production line and you miss the chips, what?"
Posted from Bitcointa.lk - #pOwn182MWr8OyPPp

Well they managed to screw a whole bunch of people who simply made a purchase and were expecting a miner, did they not?  Well now they've got this young man tied up into setting up a whole production line for them, what could possibly go wrong?

There will be massive startup costs here.  If HF dicks around or bails on Garrett he's going to be out bigtime.

[Minor Miner]

You guys do realize that "Garrett MacDonald" is Garr on these forums, right?  The guy who scammed tons of people out of money, lied about his shill bidding of auctions, etc...  

Wait isn't this the same GARR that has to sell 10 cointerras or so because he cannot get them running properly?    How is it possible that someone that cannot network and supply power to 10 Cointerras is able to set up production of 400 boards a day?    Does this even seem credible?

Yes, it is.  Talk is cheap.  I'm sure that going from plugging in and configuring Cointerra units to managing a large-scale electronics assembly line is going to pose no great challenge [/s].   Though, stranger things have happened.

I cannot find the string, but I believe he was only able to get TWO running and then could not get the rest going?    Perhaps dorm rooms at his college do not provide 20kw of service?
Or maybe those power bar companies should be sued for false advertising because you cannot really put 6 plugs into them and have all the Cointerras magically start up.

[cedivad]

I'm reading Garret posts, and he doesn't seem like a fool "that maxes out the power plugs in his dormitory" or that sells it's CT hardware because it doesn't work...
I can't find references for any of them actually... I will keep reading...
Posted from Bitcointa.lk - #svuPT3qL10S6lAW5

[Micky25]

Maybe those licensing costs and chips sales from HF to Cognitive are going to give HF enough capital to start shipping out miners again.

why should they? They are already on the way to bankruptcy and the Cognitive deal is just the sale of the silver tableware.
To get some cash for closure expenses i.e. "press the last blood out of this baby".

[cedivad]

Well sure, if you give away 10k ASIC for "free"...
Yes, i guess that there is not a lot left after that and that you can close shop.
Posted from Bitcointa.lk - #EpeEvPZl98452aZy

[dropt]

Maybe those licensing costs and chips sales from HF to Cognitive are going to give HF enough capital to start shipping out miners again.

why should they? They are already on the way to bankruptcy and the Cognitive deal is just the sale of the silver tableware.
To get some cash for closure expenses i.e. "press the last blood out of this baby".

If that's the case, I'd like to know when they'll be auctioning off the GN IP.

[jimmothy]

I'm reading Garret posts, and he doesn't seem like a fool "that maxes out the power plugs in his dormitory" or that sells it's CT hardware because it doesn't work...
I can't find references for any of them actually... I will keep reading...
Posted from Bitcointa.lk - #svuPT3qL10S6lAW5

Has any of the recent info/bullshit been confirmed?

I find it hard to believe that anyone, even if they are young and inexperienced, would collect so much money and blow it all due to their own technical incompetence.

I refuse to believe the original plan was to run multiple asics from his standard basement circuit.

And how would they build a production line with literally no experience, no capital, and a plethora of other qualifications this group of highschoolers don't meet.

[perezoso]

odds are he redirected the hashing power to steal btc. (not the first time)
all 20 of my 20 CT units worked fine.

Or long on self-confidence and short on competence.  Goes with the teenage mindset.  And HasfFarts.  

Arguably competent chip design, incompetent everything else. (<-- that was WRT HasfFarts)

[SolarSilver]

I'm going to copy this gem from The Habanero Project thread in order not to pollute it too much:

https://bitcointalk.org/index.php?topic=519943.msg5817423#msg5817423

I have no inside knowledge on the chip situation with Hashfast. However, I can confirm that I was told the same story directly by the Hashfast reps at the conference in Austin. At that time they said that they were working as fast as they could to fulfill orders, that the next available batch was the 2nd Yoli run, and that there were enough chips to max out production and then some. Excess chips were being made available to third party developers as stock permitted.

Hashfast sales droid tells bullshit to potential customers, news at 11!

Hashfast has not shipped out any BBJet replacements, BBJet MPP, Upgrade kits, Sierras or Sierra MPP in the last 7 weeks or so

"They were working as fast as they could to fulfill orders" my ass.

Hands up who received any of the above?

[elasticband]

[qwk]

So what's the plan here?
[…]
We should softly bring HF to bankruptcy, and use the know how/in hand ASIC for ourselves instead of gifting it in exchange with a new production line.

If there were a way to quickly bring HF to bankruptcy and get the ASIC design out, we could think of just producing the chips and reselling them to refund the customers. The problem is, there is no such thing as a quick bankruptcy.

A man may dream, though, a man may dream