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Author Topic: HashFast announces specs for new ASIC: 400GH/s  (Read 865485 times)
cedivad
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May 15, 2014, 09:25:37 PM
 #9281

and this is why humanity in general is failing, they refuse to look into things and actually understand, please do your research...
Please wait and see 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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May 15, 2014, 09:33:23 PM
 #9282

Liars gonna lie.
Sure, but what is the lie?

We may find out soon...or we may never know. I find it difficult to believe that they blew through all the funds they've received while shipping so little equipment. I have a sierra, it's a solid and refined product. If they hadn't deceived me into dramatically overpaying I'd be delighted with the purchase. Because they've lied so frequently in the past, I don't find anything they say credible, but they're plainly capable of producing a quality mining product. As they've proven quite willing to screw over their customers at every turn it's hardly a stretch to imagine they were producing functional miners quite some while back and have been mining with them since.

Every pre-order mining company seems to use pre-order sales as a funding mechanism for their own mining farms, I doubt scamfast is any different in this regard.


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May 15, 2014, 09:35:56 PM
 #9283

and this is why humanity in general is failing, they refuse to look into things and actually understand, please do your research...
Please wait and see Smiley
Indeed we will see, be open
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May 15, 2014, 10:47:15 PM
 #9284



 
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May 16, 2014, 12:11:17 AM
 #9285

Here's to hoping new management gets in there fast to salvage what can be salvaged (although I assume it's a chapter 11 filing in the works) and, maybe most importantly, that in this process the truth comes out - be it malice, incompetence, or some combination thereof.

I thought Amy Abascal was the NEW management.  At this point I've given up on getting anything from them. If I join the petition I'll get about $100 maybe if that so what's the use at this point?

 Huh Embarrassed
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May 16, 2014, 12:35:50 AM
 #9286



Going down with the sinking Chip! Grin
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May 16, 2014, 12:40:20 AM
 #9287

Just typical: HashFast's response to the Chapter 7 Petition was the fire the one person that was making any kind of difference to the customers.
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May 16, 2014, 12:54:03 AM
 #9288

Just typical: HashFast's response to the Chapter 7 Petition was the fire the one person that was making any kind of difference to the customers.

+1

I was scheduled to have a call with amy this afternoon and last minintue I had requested to push it back 3-4 hours and then 45 mins before the call she sends me a message saying that she was just laid off.

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May 16, 2014, 01:00:09 AM
 #9289

Just typical: HashFast's response to the Chapter 7 Petition was the fire the one person that was making any kind of difference to the customers.

+1

I was scheduled to have a call with amy this afternoon and last minintue I had requested to push it back 3-4 hours and then 45 mins before the call she sends me a message saying that she was just laid off.

This is a premium company.

Scamfast consistently fuks their own customers(creditors), so their customers(creditors) attempt to wrest control of the company away from crooked management. In response scamfast crooked management retaliates with more screw jobs.


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Flying Hellfish
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May 16, 2014, 01:56:28 AM
 #9290

i mean if you know anything about eduardo
Yes, there is one thing I know about eduardo. His name is not eduardo.

they will continue to probably screw everyone and the petition opened that door wide.
Please, enlighten us.
I already have, the blind cannot see.
Liars gonna lie.
Sure, but what is the lie?

And btw, @armyof1ne, if you really think that a LLC is gonna protect their persons against personal liabilities, you should change lawyer.
and this is why humanity in general is failing, they refuse to look into things and actually understand, please do your research...

You should definitely do some research bro.  Here's a little light reading for you.  Take a look at the bold its only one of the many reasons HF principals could be fucked.  This entire forum has no idea how the REAL business world works.  The very act of using CUSTOMER pre-order money for product development and general overhead expenses (salary, rent etc etc) will allow a lawyer to easily prove the LLC was under cap'd.  That will pierce the corporate veil and could very easily leave the principals on the hook personally.

United States[edit]
See also: US corporate law
In the United States, corporate veil piercing is the most litigated issue in corporate law.[24] Although courts are reluctant to hold an active shareholder liable for actions that are legally the responsibility of the corporation, even if the corporation has a single shareholder, they will often do so if the corporation was markedly noncompliant, or if holding only the corporation liable would be singularly unfair to the plaintiff. In most jurisdictions, no bright-line rule exists and the ruling is based on common law precedents. In the United States, different theories, most important "alter ego" or "instrumentality rule", attempted to create a piercing standard. Mostly, they rest upon three basic prongs—namely "unity of interest and ownership", "wrongful conduct" and "proximate cause". However, the theories failed to articulate a real-world approach which courts could directly apply to their cases. Thus, courts struggle with the proof of each prong and rather analyze all given factors. This is known as "totality of circumstances".[25]

There is also the matter of what jurisdiction the corporation is incorporated in if the corporation is authorized to do business in more than one state. All corporations have one specific state (their "home" state) to which they are incorporated as a "domestic" corporation, and if they operate in other states, they would apply for authority to do business in those other states as a "foreign" corporation. In determining whether or not the corporate veil may be pierced, the courts are required to use the laws of the corporation's home state. This issue can be significant, for example, the rules for allowing a corporate veil to be pierced are much more liberal in California than they are in Nevada, thus, the owner(s) of a corporation operating in California would be subject to different potential for the corporation's veil to be pierced if the corporation was to be sued, depending on whether the corporation was a California domestic corporation or was a Nevada foreign corporation operating in California.

Generally, the plaintiff has to prove that the incorporation was merely a formality and that the corporation neglected corporate formalities and protocols, such as voting to approve major corporate actions in the context of a duly authorized corporate meeting. This is quite often the case when a corporation facing legal liability transfers its assets and business to another corporation with the same management and shareholders. It also happens with single person corporations that are managed in a haphazard manner. As such, the veil can be pierced in both civil cases and where regulatory proceedings are taken against a shell corporation.

Factors for courts to consider[edit]
Absence or inaccuracy of corporate records;
Concealment or misrepresentation of members;
Failure to maintain arm's length relationships with related entities;
Failure to observe corporate formalities in terms of behavior and documentation;
Failure to pay dividends;
Intermingling of assets of the corporation and of the shareholder;
Manipulation of assets or liabilities to concentrate the assets or liabilities;
Non-functioning corporate officers and/or directors;
Significant undercapitalization of the business entity (capitalization requirements vary based on industry, location, and specific company circumstances);
Siphoning of corporate funds by the dominant shareholder(s);
Treatment by an individual of the assets of corporation as his/her own;
Was the corporation being used as a "façade" for dominant shareholder(s) personal dealings; alter ego theory;
It is important to note that not all of these factors need to be met in order for the court to pierce the corporate veil. Further, some courts might find that one factor is so compelling in a particular case that it will find the shareholders personally liable.

Here's another interesting piece,
A simple example would be where a businessman has left his job as a director and has signed a contract to not compete with the company he has just left for a period of time. If he sets up a company which competed with his former company, technically it would be the company and not the person competing. But it is likely a court would say that the new company was just a "sham", a "fraud" or some other phrase,[1] and would still allow the old company to sue the man for breach of contract. A court would look beyond the legal fiction to the reality of the situation.

Come on people when are you all going to learn to understand the real business world.  A company simply cannot take millions of dollars of customer money, fail to develop a product and go bankrupt and tell the customers sorry we tried but to bad...  Even if it was all honest mistakes, that isn't how it works, if they don't pay everyone back the lawyers will pierce the corporate veil and go after these clowns.  An LLC isn't an instant "I WIN" button for the share holders.
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May 16, 2014, 02:48:09 AM
 #9291

yawn...
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May 16, 2014, 04:48:53 AM
 #9292

yawn...

How kind of you to summarize all of your posts into one word for us.
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May 16, 2014, 05:59:34 AM
 #9293

Here's to hoping new management gets in there fast to salvage what can be salvaged (although I assume it's a chapter 11 filing in the works) and, maybe most importantly, that in this process the truth comes out - be it malice, incompetence, or some combination thereof.

I thought Amy Abascal was the NEW management.  At this point I've given up on getting anything from them. If I join the petition I'll get about $100 maybe if that so what's the use at this point?

 Huh Embarrassed

I meant new management as in court-appointed management.

If in the face of the Chapter 7 "forced" filing they are firing, as other people noted, the only person trying to make a difference, and she says the company "couldn't stay afloat", I'm assuming that means a Ch. 11 bankruptcy filing from HF is coming soon, although I suppose Eddie's perfidy has no known bounds.  

Like, maybe, he'll say all those bitcoins burned up in the fire?  :p
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May 16, 2014, 09:25:24 AM
 #9294

An LLC isn't an instant "I WIN" button for the share holders.

yawn...

It's the assets the LLC (and the directors) don't have on the books we will have to go after. What do you think they did since January while they didn't gave a shit about us? Statistically, what do those mining companies do instead of shipping to their customers? I don't care about how smart they are, they must have done some mistakes.

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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May 16, 2014, 02:21:31 PM
 #9295

An LLC isn't an instant "I WIN" button for the share holders.

yawn...

It's the assets the LLC (and the directors) don't have on the books we will have to go after. What do you think they did since January while they didn't gave a shit about us? Statistically, what do those mining companies do instead of shipping to their customers? I don't care about how smart they are, they must have done some mistakes.
and thats part of the problem, i don't like working off assumptions, especially when it comes to legal action... at this point im fairly certain this petition did nothing but put a dying dog into super protective mode, those "assets that aren't on the books" aren't there anymore, meaning they are gone, vanished... they are going to probably sell the stock to someone for pennies on the dollar and be like, "this is all we have now, a few thousand dollars, here you go" all bitcoins transferred and this LLC becomes nothing more than a shell trying to pay off refunds, which it fails at.
I truly don't see any outcome at this point that will benefit anyone, there was at least a few chances going other routes, but this doors are closed now. With amy being shitcanned, thats a pretty clear signal that they are either heading for chap 11, or are "liquidating" under their own terms...
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May 16, 2014, 02:32:47 PM
 #9296

An LLC isn't an instant "I WIN" button for the share holders.

yawn...

It's the assets the LLC (and the directors) don't have on the books we will have to go after. What do you think they did since January while they didn't gave a shit about us? Statistically, what do those mining companies do instead of shipping to their customers? I don't care about how smart they are, they must have done some mistakes.
and thats part of the problem, i don't like working off assumptions, especially when it comes to legal action... at this point im fairly certain this petition did nothing but put a dying dog into super protective mode, those "assets that aren't on the books" aren't there anymore, meaning they are gone, vanished... they are going to probably sell the stock to someone for pennies on the dollar and be like, "this is all we have now, a few thousand dollars, here you go" all bitcoins transferred and this LLC becomes nothing more than a shell trying to pay off refunds, which it fails at.
I truly don't see any outcome at this point that will benefit anyone, there was at least a few chances going other routes, but this doors are closed now. With amy being shitcanned, thats a pretty clear signal that they are either heading for chap 11, or are "liquidating" under their own terms...
It would probably benefit you to read up on the bankruptcy laws for both 7 and 11.   Money does not "disappear" and assets cannot be "sold for pennies".   This type of behavior is not accepted by the court.


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solarion
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May 16, 2014, 02:34:54 PM
 #9297

or are "liquidating" under their own terms...

They were doing that anyway. They've been selling the same gear twice for some time. Months late on shipping products to their original victims and they're sending stupid scam offers to "upgrade" their victims to the back of the line on their latest vaporware(bring your own PSU please). The involuntary bankruptcy petition isn't the cause of the fraudulent behavior, scamfast's crooked sh1tbag management is.


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PuertoLibre
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May 16, 2014, 02:36:04 PM
 #9298

So...

HashFast no longer has a pulse?

Is Amy going to get a job at BFL now?

Did the attorneys hit HashFast where it mattered or is it too soon to call them a poorly run scam?

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armyof1ne
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May 16, 2014, 02:42:07 PM
 #9299

or are "liquidating" under their own terms...

They were doing that anyway. They've been selling the same gear twice for some time. Months late on shipping products to their original victims and they're sending stupid scam offers to "upgrade" their victims to the back of the line on their latest vaporware(bring your own PSU please). The involuntary bankruptcy petition isn't the cause of the fraudulent behavior, scamfast's crooked sh1tbag management is.
forcing someones hand... indirectly caused it, the direct cause was shitbags to begin with, ill agree there, but sometimes its better to outthink the shitbag.


An LLC isn't an instant "I WIN" button for the share holders.

yawn...

It's the assets the LLC (and the directors) don't have on the books we will have to go after. What do you think they did since January while they didn't gave a shit about us? Statistically, what do those mining companies do instead of shipping to their customers? I don't care about how smart they are, they must have done some mistakes.
and thats part of the problem, i don't like working off assumptions, especially when it comes to legal action... at this point im fairly certain this petition did nothing but put a dying dog into super protective mode, those "assets that aren't on the books" aren't there anymore, meaning they are gone, vanished... they are going to probably sell the stock to someone for pennies on the dollar and be like, "this is all we have now, a few thousand dollars, here you go" all bitcoins transferred and this LLC becomes nothing more than a shell trying to pay off refunds, which it fails at.
I truly don't see any outcome at this point that will benefit anyone, there was at least a few chances going other routes, but this doors are closed now. With amy being shitcanned, thats a pretty clear signal that they are either heading for chap 11, or are "liquidating" under their own terms...
It would probably benefit you to read up on the bankruptcy laws for both 7 and 11.   Money does not "disappear" and assets cannot be "sold for pennies".   This type of behavior is not accepted by the court.
We will see about that one... do you seriously think edwwwwaaaaardddooooo is beyond that? seriously?
solarion
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May 16, 2014, 02:49:44 PM
 #9300

forcing someones hand... indirectly caused it, the direct cause was shitbags to begin with, ill agree there, but sometimes its better to outthink the shitbag.

How do you "outthink" scamfast into delivering products or refunds? They have the money, they have the gear, they have the information. This is a product that rapidly deteriorates in value. The sh1tbags pushed people to the point where they have nothing left to lose by litigating and unsurprisingly people litigated.

In other news, the sun rose this morning.


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