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Author Topic: HashFast announces specs for new ASIC: 400GH/s  (Read 865622 times)
paranoidx
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May 13, 2014, 11:54:56 PM
 #9221

So at this point, the difficulty is 20x that of what it was in late October.
So lets say I hypothetically get 20 GN chips from hashfast...
I would have to purchase 20 boards (+assebly) for them.

Thats 20x$750.
That means I would have to put in another $15,000 to get a comparable amount of hashrate to what I should have gotten back in October.  And that's not taking account that I'll be needing 20x the energy.

FUCK NO.

Hashfast needs to sell their chips to new customers and use that money to pay back all the early batch customers who funded them.
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May 14, 2014, 12:17:07 AM
 #9222

Hashfast needs to sell their chips to new customers and use that money to pay back all the early batch customers who funded them.

Yes, they need to respect the pyramid scheme!
paranoidx
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May 14, 2014, 12:36:45 AM
 #9223

Hashfast needs to sell their chips to new customers and use that money to pay back all the early batch customers who funded them.

Yes, they need to respect the pyramid scheme!

Sell chips that are now in stock.  New customers get their chips.  Hashfast pays off the refunds they owe.  We call it a night.
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May 14, 2014, 04:31:00 AM
 #9224

What if?Huh?   On another note.  Hashfast may consider some sort of merger with KNC.  Of course HF would get the short end of any such deal but think about HF's customers and what KNC could possibly offer HF customers.  HF may even appeal to KNC to deliver to each HF customer a 4TH machine powered by Yoli's.  Just a thought on my part.  Thought creates reality:-)

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perezoso
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May 14, 2014, 05:48:42 AM
 #9225

Hashfast needs to sell their chips to new customers and use that money to pay back all the early batch customers who funded them.

Yes, they need to respect the pyramid scheme!

You've thrown thousands of dollars at Hashfast, and now you would accept payment in the form of $100 chips, to which your must further add $749 each in components and assembly, plus power supplies, cooling, shipping, etc.... in order to mine on network that's so big now that that all your calculations about profitability have been thrown out the window several times?

Unless you are a huge customer with huge price leverage on the boards, taking the chips sounds like throwing good money after bad to me.

Nope, the truth and a check for our shares of what little is left is probably best.  And who knows what new information the truth may reveal.

The fundamental mistake that was made was Eddie's arrogance in late 2013, when the company should have come forward with honesty to negotiate with its customers.  Instead, all the way through April 2014, they acted like little pricks.  And even if you believe the recent coming to Jesus, untucked shirt and burn victim routine, it's just too little, too late.

cedivad
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May 14, 2014, 08:29:06 AM
 #9226

The boards are not $750 each, that's the ripoff price VMC is gonna make you pay. It's way less.
You could get full miners (psu, cooling included) for less than 1$/GH. Yes, less than the antminers people compares everything against and with half the power usage.
You could get them within 10 days. If you accept to take longer than that you could lower the board costs by another $100-150.

That's why I've tried the impossible to accept that chip settlement.

It would have helped me, It would have helped HashLabs, It would have helped other customers.

What HashLabs needs to do is start selling the complete package on their webshop. If you are a current customer, and you have a liability against them, they need to sell you the board (and the ASICs for free) for around $450. As a preorder, but you would known exactly where that money goes and what the delivery times where. If HL was under Chapter 11 it would be even better.

So, you get 700GH for $450. You either mine with it or sell it for twice that price. You flood the market with it, and as long as people are able to pay the board manufacturing costs, HL can put thousands of this out in no time.

You really need to flood the market with them, so that HF could possibly have a future, and you need to do it in no time.

This is the only real way to get value out of the company. If they only have chips, this is the only damn way. I don't say that we need to help the scammers. I say that if the situation is really that bad, we need to cooperate with the scammers that will have anyway their book triple checked during the bankruptcy proceedings that I hope they will accept.

Every "f u" post is really not helping and depressing.

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
CryptKeeper
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May 14, 2014, 09:26:34 AM
 #9227

The boards are not $750 each, that's the ripoff price VMC is gonna make you pay. It's way less.
You could get full miners (psu, cooling included) for less than 1$/GH. Yes, less than the antminers people compares everything against and with half the power usage.
You could get them within 10 days. If you accept to take longer than that you could lower the board costs by another $100-150.

That's why I've tried the impossible to accept that chip settlement.

It would have helped me, It would have helped HashLabs, It would have helped other customers.

What HashLabs needs to do is start selling the complete package on their webshop. If you are a current customer, and you have a liability against them, they need to sell you the board (and the ASICs for free) for around $450. As a preorder, but you would known exactly where that money goes and what the delivery times where. If HL was under Chapter 11 it would be even better.

So, you get 700GH for $450. You either mine with it or sell it for twice that price. You flood the market with it, and as long as people are able to pay the board manufacturing costs, HL can put thousands of this out in no time.

You really need to flood the market with them, so that HF could possibly have a future, and you need to do it in no time.

This is the only real way to get value out of the company. If they only have chips, this is the only damn way. I don't say that we need to help the scammers. I say that if the situation is really that bad, we need to cooperate with the scammers that will have anyway their book triple checked during the bankruptcy proceedings that I hope they will accept.

Every "f u" post is really not helping and depressing.

No way I would give any more money to that company!

If someone want to buy my chips to take the risk, that would be fine with me though.  Grin

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cedivad
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May 14, 2014, 09:32:02 AM
 #9228

No way I would give any more money to that company!

If someone want to buy my chips to take the risk, that would be fine with me though.  Grin

You are not putting your money in a sinkhole or the blackhole HL is. You are paying for the manufacturing costs only and a little management fee (like $30?). HL will have to provide a real schedule of everything. They will have to give you the invoices the manufacturers sent them so that you can check that your money wasn't stolen in the meanwhile.

It will be hard at first to trust them, but if it's the only way, it has to be tried.

Either that or a group buy with the same conditions. How many chips do you have, in your case? Can you afford to build the boards?

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
CryptKeeper
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May 14, 2014, 10:17:10 AM
 #9229

No way I would give any more money to that company!

If someone want to buy my chips to take the risk, that would be fine with me though.  Grin

You are not putting your money in a sinkhole or the blackhole HL is. You are paying for the manufacturing costs only and a little management fee (like $30?). HL will have to provide a real schedule of everything. They will have to give you the invoices the manufacturers sent them so that you can check that your money wasn't stolen in the meanwhile.

It will be hard at first to trust them, but if it's the only way, it has to be tried.

Either that or a group buy with the same conditions. How many chips do you have, in your case? Can you afford to build the boards?

1. they haven't approached me yet with a chip offer (I'm waiting for a BTC refund worth 22k from batch 2)
2. yes

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cedivad
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May 14, 2014, 10:32:00 AM
 #9230

I'm suing them for my deserved BTC refund too, but it won't come out of nowhere (thanks for the fact that they slept on the assets we paid for months instead of answering us, or paying us in chips in January, that is a scammer behaviour).

If only they stopped using the petition (that is a great and good thing) as an excuse to stop shipping and to lose even more assets, we could work something out before it's too late. You won't even be able to recover the costs of the boards in a few months.

Because this is what they are doing, painting the first good thing in months as if it was evil. And many customers believe them (look at twitter).

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
BitCoin Operated Boy
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May 14, 2014, 04:25:42 PM
 #9231

Now they also stopped refunding owned money in chips. They said it's because of the filed chapter 7 bankruptcy against them. I don't know what it does have to do with anything.
armyof1ne
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May 14, 2014, 05:18:50 PM
 #9232

I'm suing them for my deserved BTC refund too, but it won't come out of nowhere (thanks for the fact that they slept on the assets we paid for months instead of answering us, or paying us in chips in January, that is a scammer behaviour).

If only they stopped using the petition (that is a great and good thing) as an excuse to stop shipping and to lose even more assets, we could work something out before it's too late. You won't even be able to recover the costs of the boards in a few months.

Because this is what they are doing, painting the first good thing in months as if it was evil. And many customers believe them (look at twitter).

It would be nice if your lawsuit fell through, i think i'd open a nice bottle of champagne for that one.  I have gotten one of my major refunds back at least... i can live with that.
Hashfast's new slogan is... "you can't milk those"
cedivad
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May 14, 2014, 05:57:48 PM
 #9233

It would be nice if your lawsuit fell through
You know what I would open a bottle of champagne for? Edward and Simon being held responsible and liable for the damages they did to their customers, that is what morici will probably be able to do.

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
armyof1ne
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May 14, 2014, 06:35:25 PM
 #9234

It would be nice if your lawsuit fell through
You know what I would open a bottle of champagne for? Edward and Simon being held responsible and liable for the damages they did to their customers, that is what morici will probably be able to do.
If you truly feel that they "damaged" you, you fail to understand you damaged yourself, alot of people did not fully understand what they were getting into when they preordered, i have done enough that have fallen through to understand there is risk involved, their failure to follow through is a breach of the agreement that was entered into by both parties involved. They are liable for refund amount, they are not liable for punitive damages or anything like that. My understand is KOI included punitive damages, which is kinda an autoloss.
Sadly, i think gallo was a poor choice, if he loses, i might get my last refund back, as the creditors would have to pay fees and are liable for punitive damages, which seems entirely unfair, but... the law is the law.

We will see how it plays out, my information may be off, but if everything i have is true, this may work into hashfast's favor, while boning most of the customers.
cedivad
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May 14, 2014, 06:50:36 PM
 #9235

 Grin

We will see how it plays out, my information may be off, but if everything i have is true, this may work into hashfast's favor, while boning most of the customers.
Whatever information it is you have, try to explain it so that it's understandable, or don't explain it at all Smiley

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
Morblias
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May 14, 2014, 06:54:05 PM
 #9236

I have gotten one of my major refunds back at least... i can live with that.

Just curious, when did you ask for the refund? Did you sign their refund agreement form? I requested a refund 3 months ago and haven't seen shit. They will not answer any of my emails either.

Tips / Donations accepted: 1Morb18DsDHNEv6TeQXBdba872ZSpiK9fY
cedivad
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May 14, 2014, 06:55:40 PM
 #9237

Just curious, when did you ask for the refund? Did you sign their refund agreement form? I requested a refund 3 months ago and haven't seen shit. They will not answer any of my emails either.

Date Registered:  Today at 05:10:27 PM
Reliability:           -1

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
armyof1ne
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May 14, 2014, 07:02:40 PM
 #9238

I have gotten one of my major refunds back at least... i can live with that.

Just curious, when did you ask for the refund? Did you sign their refund agreement form? I requested a refund 3 months ago and haven't seen shit. They will not answer any of my emails either.
Beginning of Feb so a little over 3 months for my batch 1 order. Batch 4 order hasn't been refunded, and i don't expect to see it.

@cevidad, thanks for that warm welcome, im sure you will see much more of me here.
ryepdx
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May 14, 2014, 07:04:07 PM
 #9239

If anyone is interested in joining me in taking legal action, myself and a bunch of other people are going through Gallo LLP.

You can sign up at https://hfrefunds.com
cedivad
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May 14, 2014, 07:13:06 PM
 #9240

Beginning of Feb so a little over 3 months for my batch 1 order. Batch 4 order hasn't been refunded, and i don't expect to see it.
So yes, HF has still to finish refunding batch 1, regardless of emptying the accounts for that. Kudos to the petition.

@cevidad, thanks for that warm welcome, im sure you will see much more of me here.
You are very welcome! It would be boring without nonsense and trollers.

You can sign up at https://hfrefunds.com
Someone asked me to create a page on the .org to refer possible legal actions, if you want feel free to create an account there and I will give you editing privileges, so that you can have more audience Smiley

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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