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Author Topic: HashFast announces specs for new ASIC: 400GH/s  (Read 879474 times)
perezoso
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March 20, 2014, 01:17:42 PM
 #8501

It doesn't take anymore time to learn anything at 6 or 18 or 45. There are definitely stages of development or sensitive periods for specific aspects for all humans from birth through to 24 years of age and probably beyond. In terms of child protection there are laws in place for that I am not debating that I am debating the fact that a 12 or 13 year old knows right from wrong and can learn to handle a lot different things including money. I think this "kid" is now in 1st year college so we are not talking about a snot nosed kid of 11 or 12 are we? We are talking about an adult who could die for their country. Again my concern is he really being ethical?

No, MacDonald is not being very ethical, but what I'm saying is that I don't hold it against him to any great degree because, while there are exceptions, I don't believe that people are generally capable of sophisticated ethical thinking until probably their mid to late 20s.  

My cracks about his age, though, were honestly more directed at the self-described "adults" of the bitcoin mining industry, Hashfast, who apparently blew through $15 million or more without being able to service even their early orders and who have unleashed that juvenile idiot HasfFart_CL on these boards (among other things).

The fact that these "adults" ass is being bailed out by a teenager under these circumstances should cause Edward, Simon, and pals eternal shame.  

I'm no lawyer, but I don't understand why there isn't a potentially good case for an injunction here.

And MacDonald can get his production line, I don't begrudge him that in principle, it just shouldn't come at the expense of early customers who, to the day, remain without equipment.  Personally, especially those of us with the "Miner Protection Program".
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March 20, 2014, 01:32:17 PM
 #8502

The problem is that HF is a black box to their customers.

If they were open and honest, and they said that they were looking for money to build our boards, i'm quite sure that they would have found it in no time.

Instead they choose to screw and fight their customers, and to privilege private deals with MacDonald... That is gonna be the one that will earn on our shoulders.

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

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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March 20, 2014, 01:46:46 PM
 #8503

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.
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March 20, 2014, 02:08:11 PM
 #8504

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

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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March 20, 2014, 02:13:02 PM
 #8505



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

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March 20, 2014, 02:18:29 PM
 #8506

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".
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March 20, 2014, 02:33:30 PM
 #8507

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

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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March 20, 2014, 03:17:06 PM
 #8508

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.  

Quote
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.

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March 20, 2014, 03:27:51 PM
 #8509

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?


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March 20, 2014, 03:28:30 PM
 #8510

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

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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March 20, 2014, 03:30:48 PM
 #8511

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.
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March 20, 2014, 03:33:26 PM
 #8512

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.
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March 20, 2014, 03:37:06 PM
 #8513

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.


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March 20, 2014, 03:53:53 PM
Last edit: March 20, 2014, 04:15:11 PM by cedivad
 #8514

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

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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March 20, 2014, 04:16:35 PM
 #8515

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".
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March 20, 2014, 04:25:19 PM
 #8516

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

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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March 20, 2014, 04:40:36 PM
 #8517

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.
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March 20, 2014, 04:41:32 PM
 #8518

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.
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March 20, 2014, 07:46:17 PM
Last edit: March 20, 2014, 08:39:20 PM by perezoso
 #8519

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)
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March 21, 2014, 08:51:14 AM
 #8520

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?
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