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Author Topic: HashFast announces specs for new ASIC: 400GH/s  (Read 865682 times)
Minor Miner
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May 10, 2014, 03:15:49 AM
 #9161

I am sure the court appointed receiver will be very interested to see the "professional" CFO present all the 1099s, and W9s that are required by law for transactions of over $600 per year.   Considering this is over 1.3 Million right now, I am sure all the federal agencies will want to make sure this is a legitimate transaction where ALL parties reported it properly and no money laundering happened.   Since we have been assured by HF in the last couple days that NOTHING out of the norm has happened there, they should welcome the detailed spotlight that will be put on every transaction they did.
I, for one, cannot wait to see exactly where all the money went and exactly how it was recorded by EVERY party to the transaction.


                  ,'#██+:                 
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cedivad
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May 10, 2014, 10:56:07 AM
 #9162

Anyway. For full disclosure, since that I feel guilty every day I don't make this post:

After having tried to talk with them for months, I was able to finally do so exactly one week ago, during a two hours long Skype call. They offered me chips, they talked about their reasons for the delays (the fault is only of the board designer, the ASIC was right on time for October shipping, that was anyway anticipated only), about how having their cash locked in assets is delaying the shipments, how they spent new years eve writing checks to refund customers (that were cashed out in a measure that is way bigger than the $40k written by their lawyers), etc.

Nothing useful came out of that call or the subsequent emails. It was however certainly positive to finally hear their positions after almost a 6 months convenience shutdown and a 20x difficulty jump. (shutdown that again, was dictated by their lawyers, it wasn't a decision of theirs).

About the 2999 BTC address, Simon "investigated" it and discovered that it was used to pay a supplier of theirs. What's interesting about the 1 BTC outgoing transaction is that it ends up in a Bitstamp address. I'm not sure of the reason behind that, I've speculated since the beginning of it being a planned decision, however Bitstamp now has a name on that account. It will have to match the supplier's name.

I've asked them about making this post during the call and no objection was raised. They asked not to talk about some numbers, and I've left them out.  I support Minor Miner's odyssey and while I'm afraid it somehow won't happen, I would really love to see their books.  Lastly, I'm disgusted by the timing and content of their marketing campaign but I really appreciate them locking in into even more contradictory statements.
Posted from Bitcointa.lk - #LnssnU1AZnzhOOx3

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
pmorici
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May 10, 2014, 12:26:34 PM
 #9163

they talked about their reasons for the delays (the fault is only of the board designer, the ASIC was right on time for October shipping

So how do they explain the photo they posted and blogged about of their CEO receiving the first chip delivery on November 12th 2013?

https://bitcointalk.org/index.php?topic=262052.msg3563797#msg3563797

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cedivad
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May 10, 2014, 12:35:59 PM
 #9164

I asked them about that, quoting that date. They answered that they actually had the wafers in hand the 28th of October (Edward said so, asking for a confirmation to Simon in the meanwhile) (they might have said 29th, unsure). They added that they also asked TSMC to stop the rush they imposed on their order, since that the board design was late and there was no point in rushing the ASIC anymore.

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
pmorici
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May 10, 2014, 12:53:18 PM
 #9165

Looks like they forgot to renew their domain registration for hashfast.com it is currently redirecting to a GoDaddy page that says...

"NOTICE: This domain name expired on 5/9/2014 and is pending renewal or deletion."

Gigampz: Adapter Boards for Server Power Supplies 50% cheaper than ATX power supplies.  DPS-800GBA, DPS-1200FBA, Common Slot, CRPS, DPS-1200TBA, DPS-2000bb, Dell z750p
cedivad
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May 10, 2014, 01:00:30 PM
 #9166

That's funny, because I lost a .net used as a CDN for a website of mine thanks to it being registered via Godaddy... They sold it in an auction and I discovered it when the new owner changed the DNS servers and I received a flood of emails telling me I was down...
HashLabs is lucky, they won't have their domain auctioned without them knowing...

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
pmorici
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May 10, 2014, 01:10:12 PM
 #9167

I asked them about that, quoting that date. They answered that they actually had the wafers in hand the 28th of October (Edward said so, asking for a confirmation to Simon in the meanwhile) (they might have said 29th, unsure). They added that they also asked TSMC to stop the rush they imposed on their order, since that the board design was late and there was no point in rushing the ASIC anymore.

There was also the blog post on Nov 8th saying "Today we have reached a real milestone: Silicon Wafers Have Arrived in Silicon Valley!"  They now expect us to believe the chips actually arrived in Oct. (just barely) despite making multiple posts back in Nov. stating that the chips arrived in November.  

http://webcache.googleusercontent.com/search?q=cache:3pw0UOayk_4J:hashfast.com/silicon-in-silicon-valley/+&cd=1&hl=en&ct=clnk&gl=us

@Cedivad can you add the above link to the timeline on Hashfast.org I don't think it is currently in there.

Gigampz: Adapter Boards for Server Power Supplies 50% cheaper than ATX power supplies.  DPS-800GBA, DPS-1200FBA, Common Slot, CRPS, DPS-1200TBA, DPS-2000bb, Dell z750p
cedivad
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May 10, 2014, 01:20:22 PM
 #9168

More permanent link: http://web.archive.org/web/20131207160528/https://hashfast.com/silicon-in-silicon-valley/ Create an account on the .org and I will be glad to give you editing privileges Smiley Edit: It's already there.

Anyway there is a lot more than that to prove our points (even that simple and single point) and force them to disclose contracts, emails, tracking, etc. I'm reluctant in talking about that because I don't see why I should help them filing the huge holes of their story, so keeping it private makes sense for now.

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
pmorici
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May 10, 2014, 01:42:22 PM
 #9169

I'm reluctant in talking about that because I don't see why I should help them filing the huge holes of their story, so keeping it private makes sense for now.

Agreed.

Gigampz: Adapter Boards for Server Power Supplies 50% cheaper than ATX power supplies.  DPS-800GBA, DPS-1200FBA, Common Slot, CRPS, DPS-1200TBA, DPS-2000bb, Dell z750p
solarion
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May 10, 2014, 03:57:01 PM
 #9170



We all know how that turned out.


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Brickblock.io
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HardwareReviewer
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May 10, 2014, 09:50:11 PM
 #9171

http://www.coindesk.com/46k-spent-mining-hardware-happened-next/

Prepare to enter a world of stress
perezoso
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May 11, 2014, 12:49:05 AM
 #9172


That should be a stand alone sticky thread right under caveat emptor.
cedivad
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May 11, 2014, 09:59:29 PM
 #9173

http://arstechnica.com/tech-policy/2014/05/embattled-ceo-of-bitcoin-miner-firm-we-are-as-poor-as-church-mice/
http://arstechnica.com/business/2014/05/gallery-inside-hashfast-a-struggling-bitcoin-chipmaker-startup/#image-7

Some interesting details gossip.

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
RoadStress
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May 11, 2014, 10:57:23 PM
 #9174

http://cdn.arstechnica.net/wp-content/uploads/2014/05/13963172720_05ab7fc682_b-640x480.jpg

Is Eduardo wearing his sleek Bluetooth again?

iCEBREAKER is a troll! He and cypherdoc helped HashFast scam 50 Million $ from its customers !
H/w Hosting Directory & Reputation - https://bitcointalk.org/index.php?topic=622998.0
perezoso
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May 11, 2014, 11:26:49 PM
 #9175


I dunno, but they sure are trying to cultivate a humble image.  

Somebody give Simon a haircut, for god's sake, he's about to start looking like a dirt-eater from Alabama. Were it not for that glass he's holding. A lot of my work colleagues are Cambridge types, and there's no hope for them, but I'll be damned if it doesn't seem like if Simon went to enough Drive by Truckers shows that he'd learn how to fit in with Bubba.

And Eddie, with his shirt untucked!  My heavens.  Contrived?  No way!  Just a working stiff, that Eddie, with a gold-plated bidness education?  Untucking his button-down, wow, that says desperation like nothing else.

Should have engaged their customers in late 2013 with the truth, humility, and a earnest desire for a mutually-agreed plan.  I was here screaming for it.  They had no interest.  And, to be honest, those that wanted BTC refunds didn't have much interest either.  It was people like me, USD customers in the middle, who were looking hardest for a fair path.  They were too arrogant to realize their predicament.

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May 11, 2014, 11:29:08 PM
 #9176

Has there been ANYONE that has received a refund from HashFast yet? Until I start seeing refunds, yes, you are a fucking scam. I requested a refund 2 months ago and still have not received it. They will not answer any of my emails.

Tips / Donations accepted: 1Morb18DsDHNEv6TeQXBdba872ZSpiK9fY
pmorici
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May 12, 2014, 12:07:49 AM
 #9177

Should have engaged their customers in late 2013 with the truth, humility, and a earnest desire for a mutually-agreed plan.  I was here screaming for it.  They had no interest.  And, to be honest, those that wanted BTC refunds didn't have much interest either.  

That's just not true.  I and many others tried to contact them offering to work out something reasonable Hashfast simply didn't respond.

Gigampz: Adapter Boards for Server Power Supplies 50% cheaper than ATX power supplies.  DPS-800GBA, DPS-1200FBA, Common Slot, CRPS, DPS-1200TBA, DPS-2000bb, Dell z750p
cedivad
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May 12, 2014, 12:15:10 AM
 #9178

And, to be honest, those that wanted BTC refunds didn't have much interest either.
I feel offended by this and since that it's the third time in a row you post it, I'm gonna answer your flame: We all worked together and went to great lengths to persuade HF to work with us, independently from how we paid. None of us succeeded, but not for a fault from our side. They decided to wait until their assets devaluated to this ridiculous standard before starting to help us helping them. What a great plan!

One little and now public contraction: The reason why they didn't noticed that the boards were late, two blogposts or so ago, was that the core competence was focused on the ASIC. I underlined during that Skype call that no matter how much they wanted to focus on the ASIC, there really wasn't anything you could do on your ASIC once that you taped it out, apart from maybe staring at it. I guess that they agreed with me on that since that they changed their version, now it being that due to Edward's house fire (I'm really sorry to hear that, Edward. Happy that you recovered.) Simon was temporarily in charge of the business aspects and forgot to take a look at the status of the board in the meanwhile.

About HashFast LLC holding the IP... Is anyone surprised?

Now, the subsequent and logical question becomes, how did HashFast Technologies paid for the usage of the IP HashFast LLC holds? Maybe with a famous Bitcoin transaction?

No, I refuse to believe that.

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
pmorici
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May 12, 2014, 12:19:12 AM
 #9179


So back in September the house fire was dismissed as no big deal and deCastro managed to show up for a morning media interview the next day and now they claim it was a major contributor to their utter failure.

http://www.businessweek.com/printer/articles/185877-the-bitcoin-mining-arms-race-heats-up

Quote
Eduardo de Castro runs HashFast Technologies, a mining startup founded in early 2013. Sitting in a cafe in Mountain View, Calif., in September, de Castro, too, displays feverish signs: He had a house fire the night before, which he mentions dismissively only after being asked about the bandages on his arms and face."

vs.

Quote
On top of it all, there was an act of God, too. deCastro experienced a massive electrical fire in his house due to a faulty electrical device charger.

“I had burns, smoke inhalation, and everything I owned burned,” he said, lamenting the fact that one of his dogs died in the blaze. One of his housemates was apparently in the hospital for three months as a result. “I barely managed to get out.”

With deCastro out of commission for a little while, Barber said he was put in charge of “business stuff,” while his normal area of expertise is engineering.

“This distracted me, I should have been supervising these [board] contractors more closely,” he admitted.

Gigampz: Adapter Boards for Server Power Supplies 50% cheaper than ATX power supplies.  DPS-800GBA, DPS-1200FBA, Common Slot, CRPS, DPS-1200TBA, DPS-2000bb, Dell z750p
cedivad
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May 12, 2014, 12:42:31 AM
 #9180

It must have been another fire.

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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