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Author Topic: HashFast announces specs for new ASIC: 400GH/s  (Read 864936 times)
paranoidx
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May 22, 2014, 03:35:24 PM
 #9441

Ray Gallo is now representing any customer from any batch that is requesting a refund.

go to www.hfrefunds.com  for more information and join the lawsuit against these scammers.
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perezoso
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May 22, 2014, 03:47:40 PM
 #9442

No comment on the Gallo business.  I'm not associated with that.

Truth is what I like, and we're getting some.  Okay, the huge customer is a Florida company called Liquidbits.  

New data point:  As of May 8th, 2014, Hashfast had approximately 31,000 chips on hand.  (Basis:  Hashfast admitted that 28,000 chips constituted "about 90%" of its inventory.)

At the same time, Hashfast had only delivered 2,000 out of 30,000 it committed to provide to Liquidbits under a "chip conversion" MOU executed on March 4th.  

Not that, speaking personally, I would necessarily grant any priority to the whale's claim over that of others.  

Another fact point:  When Liquidbits converted the 2500 sierra (3 petahash) order into chips on March 4th, Hashfast maintained its 25% payout from Liquidbits' gross mining income (less costs).
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May 22, 2014, 03:51:48 PM
 #9443

I just recieved this email from Ray "www.hfrefunds.com is now available to all Hashfast customers for all refunds owed by HashFast. Please spread the word far and wide. Post everywhere appropriate. The more customers I speak for, the greater my influence on the bankruptcy plan".

LTCgear.com Review http://ltcgear.co.ukhttp://ltcgear.com/?apage=120 - 160mh/s for $850 use coupon code "anniversary1yr" - Active Multi Algorithm cloud mining in Scrypt, X11 and Scrypt-N - ROI in 5 Weeks
cedivad
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May 22, 2014, 04:01:10 PM
 #9444

"The more customers I speak for, the greater my influence on the bankruptcy plan"
That's something I would be afraid of. It's not necessarily a good thing.

If HF has 28k chips we need $1.5M to build enough PCBs. Plus components, placement and testing. So if he wants to do a chapter 11 (that is the only thing he could argue about right now), tell him to find money, not customers he will take the 40% of the claim from.

Ah, Perezoso... Waiting for PACER to do his job 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
perezoso
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May 22, 2014, 04:14:09 PM
 #9445

Well, in case you were wondering what Simon was up to in Amsterdam:

http://bit.ly/1i8dcJJ
cedivad
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May 22, 2014, 04:20:55 PM
 #9446

IceDrill is Digimex if someone was wondering. Looks like he deservers a big +1.

If someones has an american credit card everything should be already on pacer. I don't, so I can't download those (there are other services but they charge a huge premium). However document count #11 seems promising.

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
perezoso
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May 22, 2014, 04:28:42 PM
 #9447

Since I don't think these guys are going to show up here, some more docs to cry over:

Contract for the 3 Petahash (2500 Sierra) order and "self-mine" kickback (3 October 13):
http://bit.ly/SnXpAm

Agreement to covert that order into 30,000 chips (4 March 14):
http://bit.ly/RXrOFe

Declaration of Gregory Bachrach, Liquidbits CEO (? May 14):
http://bit.ly/TyjpcO


And finally, for the moment, the memorandum summing it up (from Liquidbits' perspective) for the motion it made to hold the bankruptcy hearing earlier.  The motion was granted, and the hearing is tomorrow (Fri 23 May):

http://bit.ly/1hcNofg


Just call me PACER.  

But, hey, we should alert the press, and we should inform them of the perspective of the small customer.  This is not just a dispute between Hashfast and Liquidbits, there are also the interests of hundreds of unpaid small customers at stake.

cedivad
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May 22, 2014, 05:08:27 PM
 #9448

But, hey, we should alert the press, and we should inform them of the perspective of the small customer.  This is not just a dispute between Hashfast and Liquidbits, there are also the interests of hundreds of unpaid small customers at stake.

That should be a responsibility of the trustee, no? Let's email that ars guy.

Just call me PACER.

Smiley

It looks like that the adults have arrived and that HashFast is screwed.

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
dhenson
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May 22, 2014, 05:13:06 PM
 #9449

"The more customers I speak for, the greater my influence on the bankruptcy plan"
That's something I would be afraid of. It's not necessarily a good thing.

If HF has 28k chips we need $1.5M to build enough PCBs. Plus components, placement and testing. So if he wants to do a chapter 11 (that is the only thing he could argue about right now), tell him to find money, not customers he will take the 40% of the claim from.

Ah, Perezoso... Waiting for PACER to do his job Smiley

He has the financing lined out.  We need other customers to join so that we can steer the restructuring in our favor.

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May 22, 2014, 05:16:17 PM
 #9450

So we come semi-full circle here.  Wonder if Inaba wants to comment on this. Harh harh.

Liquidbits is one of several companies that comprise Coinware.

http://www.coinware.io/

One of Coinware's other ventures is Nimbus mining.

http://www.nimbusmining.com/

Nimbus mining is BFL's cloud mining host.

https://products.butterflylabs.com/nimbus-mining.html

Nimbus doesn't seem to have any other public customers.

Oh, headache.

So this guy Bachrach, who bought the huge HF order, has some major deal with BFL too.  I wonder to what extent he represents his own (and coinware fellow execs) capital, and to what extent he's fronting for other investors.  Would love to know the details of the BFL too.
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May 22, 2014, 05:19:04 PM
 #9451

He has the financing lined out.  We need other customers to join so that we can steer the restructuring in our favor.
I'm skeptic but sending an email won't hurt...

So we come semi-full circle here.  Wonder if Inaba wants to comment on this. Harh harh.
http://i.imgur.com/0HpX88K.jpg (when an anonymous sent it to me, I believed it was a fake...)

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
perezoso
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May 22, 2014, 05:21:39 PM
 #9452

He has the financing lined out.  We need other customers to join so that we can steer the restructuring in our favor.
I'm skeptic but sending an email won't hurt...

So we come semi-full circle here.  Wonder if Inaba wants to comment on this. Harh harh.
http://i.imgur.com/0HpX88K.jpg (when an anonymous sent it to me, I believed it was a fake...)

I feel like St. Paul must have today.  The scales are falling from my eyes and the truth unfolds.  So, Zetta Mine and the Jacobson Brothers...
IPO Magic
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May 22, 2014, 06:20:09 PM
 #9453

@perezoso:  Thanks for all the links.
cedivad
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May 22, 2014, 06:26:11 PM
 #9454



If that was true, HashFast Delaware Superbunker LLC has a 16nm run taped out by now, possibly at TSMC, and that would explain how cashless they are.

Corner the market, by moving everything to Superbunker LLC and use previous gen preorders to tapeout the first 16nm sha256 ever... They were this far from making it. I guess that I wasn't crazy at supposing that conspiracy...

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
perezoso
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May 22, 2014, 06:42:55 PM
 #9455



If that was true, HashFast Delaware Superbunker LLC has a 16nm run taped out by now, possibly at TSMC, and that would explain how cashless they are.

Corner the market, by moving everything to Superbunker LLC and use previous gen preorders to tapeout the first 16nm sha256 ever... They were this far from making it. I guess that I wasn't crazy at supposing that conspiracy...


Yeah.  There's obvious value in the chips that exist, but especially given how long it's going to take to sort the crap out, if the new design works, that IP might be worth a heck of a lot more.  Not sure if that wouldn't be where I'd focus an effort.  As a matter of justice, I'd like to make sure those assholes don't walk away with it.

Simon, Simon, Simon... if only you hadn't hooked up with crooks.  Well, for all I know you're one too, but I'd like to think that if you hadn't hooked up with Bullshit Eddie, the waterboarding porn and prostitution crowd, and the Church of Greed, that maybe you could have gone down as a brilliant chip designer.
cedivad
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May 22, 2014, 06:50:22 PM
 #9456

50/50 that they taped it out already. The IP is valuable, but do you want to talk about a 16nm chip already taped out? Now, that would save the ship.

Let me dream.

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
perezoso
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May 22, 2014, 06:57:54 PM
 #9457

50/50 that they taped it out already. The IP is valuable, but do you want to talk about a 16nm chip already taped out? Now, that would save the ship.

Let me dream.

That's what I'm saying.  The value may be in the new chip design (IP), if they learned enough about "substrates" to get it right the second time around.

I imagine Eddie has been careful to create companies with an alleged arms-length distance from Hashfast to own that IP, and that it will be argued that those holdings shouldn't be part of the proceeding.  Just a thought.



EDIT:  Actually, I suppose what they learned about substrates isn't relevant to the future, because nobody would put them in charge of the PCB again.  What matters is that there'd be somebody that could do that job competently.
cedivad
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May 22, 2014, 07:01:26 PM
 #9458

They used our money to finance the next gen, now they just want to bankrupt the company leaving us with nothing because of the (alleged, I guess) IP fees paid to Bunker LLC and whatever. However, that is our money, the one that was used to (possibly) tapeout the 16nm chip. So it's our chip.

This is why the involuntary bankruptcy is such a problem for them. Because they would be ordered to do the right thing.

I would start by subpoenaing every < 28nm fab in the world, just in case we miss one of the various Bunkers LLC.

You guys in the states don't have any problem and a lot of experience in expanding your jurisdiction to the five continents, right? So we will be just fine.

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 22, 2014, 07:52:53 PM
 #9459

Well, in case you were wondering what Simon was up to in Amsterdam:

http://bit.ly/1i8dcJJ

Does that allege what I think it does!?  That, Simon, the Hashfast CTO was essentially conspiring to sell Hashfast's remaining assets for below market value to a entity outside the US so that they could setup a secret joint Bitcoin mine and he could share in the profits which he thought would be outside the reach of US law?!

Incredible.

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 22, 2014, 09:25:55 PM
 #9460

Added investment under a Hashfast+DigiMex joint-venture was proposed by HF, considered and denied. The second option (of a liquidation-sale supporting such a JV) was offered, and denied, even though the fully-deployed $/Gh price came down to as low as $0.78/Gh.

I took it upon myself to create a third possibility: that of banding together the creditors to form an entity under which these remaining assets may possibly be leveraged to make everyone whole. Appointing a trustee to oversee the unwinding of the Hashfast entity (the hearing tomorrow) should give vision into what assets are available to such an entity, if it should ever come into existence. This is a work in progress, but thus far everyone I have spoken to seem to think this is the most prudent way forward.

It looks like the adults have really arrived.

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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