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Author Topic: HashFast announces specs for new ASIC: 400GH/s  (Read 875128 times)
dropt
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May 22, 2014, 10:00:54 PM
 #9461

It looks like the adults have really arrived.

Which adults?  The ones who have failed to pay any dividends to their investors for the last five months?  The ones who, after the fact, came up with a laundry list of KYC requirements not originally part of the IPO and seem to have no intentions to buy back the shares of users not willing and/or capable of complying with said KYC requirements?  The ones who misused investor funds to buy shares (?) in Cointerra?  I could go on, but I digress.

I'm glad Will's taking the opportunity to give it HF, but I wouldn't credit him as any adult I'd like to see in a place of control during the Populus vs. HF hearings.
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cedivad
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May 22, 2014, 10:14:21 PM
 #9462

I understand and agree with your concerns, that I think to have a lot of basis. However you can choose: Will and BFL-cloud-hosting + court appointed trustee or ... basically nothing. Gallo, his finances and his 40%, that I doubt will lead anywhere but to a profit for himself.

IceDrill might be able to do something for HF only because they didn't pay their dividends. They have a little bit more than 600 BTC, right? It's a drop in the ocean, but it's something. Don't blame me, but I think to be mature decision to withhold the dividends if I was planning to use them in a similar action.
If you want to bring 29k chips to mine at 0.78$/gh it would cost around $16M. Who has that kind of money to invest in this market? BFL-cloud-hosting was expecting that number of chips, so they might be considering making an investment in it.

As long as everything happens under the supervision of the trustee, I don't see why we should be afraid of it.

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 22, 2014, 10:30:33 PM
 #9463

For the existing stock, it may come down who can take the chips and make boards for sale.... fast.  

(And, to be clear, I'd have an extremely hard time bringing myself to support Gallo.  Just substituting one pig for another, frankly.)

But the previously secret whale is a problem.  If he eats 28,000 plankton chips, then there's not much left for us minnows.  We're fried.  Mixed metaphors from hell.

Then again, that pledge of 90% of Hashfast's assets - when the order was for $6 million against what, maybe $20 million or more in outstanding orders (remember the MPP too)? - well, hardly legitimate.  Mismanagement. Just more of Eddie's self-interested bullshit.  His family wouldn't invest in Hashfast because they knew him, I'll bet.

Seems like he'd promise anything to anybody, big or small, didn't matter.  The answer for Hashfast's failings was always to pledge bigger, better, and faster just around the corner ... whether the promise had any correlation to reality or not.

Way to go McCombs School of Business at the University of Texas at Austin!  Fucking MBAs.  Should be a trade school degree.  Like welding. Look at what bidness "education" results in?  Crooks.

And then there's the IP, if they really have a chip that works.

If the new chip really "screams", as Amy the 2nd claimed, I think that IceDrill Will detected that Simon may have been trying to play him as the fool.  That Simon wanted to offload Hashfast's baggage onto IceDrill and all jurisdictional crap and confusion that would cause, and try to walk away with the (possible) new chip.

But I also still tend to suspect that the pron crowd are a big reason why Hashfast is so broke. The waterboarders and prostitutes got in and out fast.  Pretty ironic.  If I'm right, those guys must be enjoying a pretty good laugh.  The "dregs of society" might be the only ones to walk away from this mess intact.

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May 23, 2014, 12:15:48 AM
 #9464

For the existing stock, it may come down who can take the chips and make boards for sale.... fast.  

(And, to be clear, I'd have an extremely hard time bringing myself to support Gallo.  Just substituting one pig for another, frankly.)

But the previously secret whale is a problem.  If he eats 28,000 plankton chips, then there's not much left for us minnows.  We're fried.  Mixed metaphors from hell.

Then again, that pledge of 90% of Hashfast's assets - when the order was for $6 million against what, maybe $20 million or more in outstanding orders (remember the MPP too)? - well, hardly legitimate.  Mismanagement. Just more of Eddie's self-interested bullshit.  His family wouldn't invest in Hashfast because they knew him, I'll bet.

Seems like he'd promise anything to anybody, big or small, didn't matter.  The answer for Hashfast's failings was always to pledge bigger, better, and faster just around the corner ... whether the promise had any correlation to reality or not.

Way to go McCombs School of Business at the University of Texas at Austin!  Fucking MBAs.  Should be a trade school degree.  Like welding. Look at what bidness education results in?  Crooks.

And then there's the IP, if they really have a chip that works.

If the new chip really "screams", as Amy the 2nd claimed, I think that IceDrill Will detected that Simon may have been trying to play him as the fool.  That Simon wanted to offload Hashfast's baggage onto IceDrill and all jurisdictional crap and confusion that would cause, and try to walk away with the (possible) new chip.

But I also still tend to suspect that the pron crowd are a big reason why Hashfast is so broke. The waterboarders and prostitutes got in and out fast.



Wait... didn't i speak on this... last week, and even this week?... apparently you are a shill for hashfast too... welcome to the club.. right?
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May 23, 2014, 12:20:10 AM
 #9465

sounds skeptical.

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Entropy-uc
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May 23, 2014, 02:32:50 AM
 #9466

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.



The whole point of the bankruptcy filing was to make sure that Hashfast didn't cut deals benefiting one of their creditors over the others.  Small players will be protected by this.

Good on DeadTerra for outing Simon's attempt to steal the last few dollars from Hashfast.  It was exactly this kind of mistake that we were looking for when we put them into involuntary bankruptcy.

Koi will be supporting the request for a trustee tomorrow morning.
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May 23, 2014, 04:04:17 AM
 #9467

I tried to sign up for Gallo's site and it said they can't help me.  How can I join the bankruptcy petition? I'm a small player.
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May 23, 2014, 04:23:15 AM
 #9468

I tried to sign up for Gallo's site and it said they can't help me.  How can I join the bankruptcy petition? I'm a small player.

There really isn't any need to do so.  The bankruptcy petition is already filed.

You may need to establish your status as a creditor at some point but for today, everything is already in motion.
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May 23, 2014, 04:40:26 AM
 #9469

Here's to hoping all will turn out well. It is time to end this nightmare!

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May 23, 2014, 04:43:33 AM
 #9470

I tried to sign up for Gallo's site and it said they can't help me.  How can I join the bankruptcy petition? I'm a small player.

There really isn't any need to do so.  The bankruptcy petition is already filed.

You may need to establish your status as a creditor at some point but for today, everything is already in motion.

1) I'm not sure why they would say that.  They are actively looking for new claimants.  Did they tell you that before the bankruptcy petition was filed? Prior to that point, they were only representing Batch 1 people.  Now they are looking to sign up everyone.
2) That isn't true Entropy.  The petition was filed by a large creditor, everyone else isn't going to be adequately represented by that action.  If Gallo can get enough claimants he will stand a good chance of being able to influence the outcome in our favor.  If you guys haven't signed up, please do!
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May 23, 2014, 04:44:45 AM
 #9471

I tried to sign up for Gallo's site and it said they can't help me.  How can I join the bankruptcy petition? I'm a small player.

There really isn't any need to do so.  The bankruptcy petition is already filed.

You may need to establish your status as a creditor at some point but for today, everything is already in motion.

1) I'm not sure why they would say that.  They are actively looking for new claimants.
2) That isn't true Entropy.  The petition was filed by a large creditor, everyone else isn't going to be adequately represented by that action.  If Gallo can get enough claimants he will stand a good chance of being able to influence the outcome in our favor.  If you guys haven't signed up, please do!

Let me try to be kind.  You don't know what the fuck you are talking about.

I filed the bankruptcy petition.

'They' are lawyers looking for you to give up 50% of your recoveries in exchange for their services.  I'm sure 'they' are very eager to take 1/2 of whatever comes back to you in the bankruptcy. But 'they' will have little to no impact on what is actually recovered.
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May 23, 2014, 04:48:20 AM
 #9472

Let me try to be kind.  You don't know what the fuck you are talking about.

I filed the bankruptcy petition.

ROFL I don't deny that, though the document I read was filed on behalf of a large purchaser and I didn't assume that was you.  

Are you trying to dissuade additional claimants?

To be clear, I'm not trying to be argumentative.  I have no personal experience with this sort of thing (nor do I claim to), however I have on one hand a random anon on the internet telling me to do nothing, all is being taken care of.  And on the other hand, a lawyer that I trust telling me that he can influence the outcome in our favor if we have a larger percentage of claimants.

I'll choose to listen to my lawyer, and thank you for doing all you have done.
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May 23, 2014, 04:54:59 AM
 #9473

Let me try to be kind.  You don't know what the fuck you are talking about.

I filed the bankruptcy petition.

ROFL I don't deny that, though the document I read was filed on behalf of a large purchaser and I didn't assume that was you. 

Are you trying to dissuade additional claimants?

The petition is filed.  We gave people 2 weeks to join.  Why the fuck would you think I'm trying to dissuade anyone now?

There is nothing to join.  As the bankruptcy proceeds creditors will need to file claims but that has nothing to do with the current state of the case.
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May 23, 2014, 04:55:53 AM
 #9474

Let me try to be kind.  You don't know what the fuck you are talking about.

I filed the bankruptcy petition.

ROFL I don't deny that, though the document I read was filed on behalf of a large purchaser and I didn't assume that was you. 

Are you trying to dissuade additional claimants?
If the court accepts it, every person that has money owed with become a claimant.   The receiver chosen by the court will represent everyone equally.    Let's say there is $5,000,000 owed and they recover 3M from HF and the owners of HF and some of the customers of HF that may have received what would be considered compensation (below market deals).    Then everyone will get about 60% back.   etc.

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May 23, 2014, 05:25:59 AM
 #9475

If the new chip really "screams", as Amy the 2nd claimed, I think that IceDrill Will detected that Simon may have been trying to play him as the fool.  That Simon wanted to offload Hashfast's baggage onto IceDrill and all jurisdictional crap and confusion that would cause, and try to walk away with the (possible) new chip.
Two chips (the second one should be a scrypt one), and the other one has possibly taped out already (and the only value would be in the fact that they paid the tapeout already). Someone keeps repeating me that tsmc won't allow a 16nm tapeout until q3 this year, so maybe it's really only a dream of mine. Or maybe it's another 28nm chip, but it sounds improbable given the better efficiency.

Anyway, good scouting tomorrow. I keep seeing only Technologies LLC on the documents. I known that you will, but try to get a hold of the Superbunker LLC proprieties too. If Barber tried to sell the Technologies LLC proprieties without giving a damn last week I don't want to think what happened already to whatever the various Superbunker LLC have.

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 23, 2014, 05:36:36 AM
 #9476

I may have unfortunately generated confusion by being unclear about the relationship between Liquidbits and the petitioners in the Chapter 7 bankruptcy filing. My apologies if I screwed anything up.  

In my posts earlier today, I referred to Liquidbits as a fellow creditor, possibly giving the impression that Liquidbits was "in" on the original bankruptcy petition, rather than an intervenor. But Entropy-UC is quite clear.  

To be perfectly honest, I was deliberately ambiguous because I wasn't sure that Liquidbits didn't have some relationship to one of the named creditors in that filing that, for some reason, hadn't been fully revealed until now.  Maybe I was too cautious.

In any event, dhenson and entropy-uc, I'm sorry if my ambiguity contributed to a misunderstanding.

I am committed in my own small way to the entropy-uc-led Chapter 7 filing, and that's where I intend to stay.

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May 23, 2014, 05:51:05 AM
 #9477

I may have unfortunately generated confusion by being unclear about the relationship between Liquidbits and the petitioners in the Chapter 7 bankruptcy filing. My apologies if I screwed anything up.  

In my posts earlier today, I referred to Liquidbits as a fellow creditor, possibly giving the impression that Liquidbits was "in" on the original bankruptcy petition, rather than an intervenor. But Entropy-UC is quite clear that this is not the case.  

To be perfectly honest, I was deliberately ambiguous because I wasn't sure that Liquidbits didn't have some relationship to one of the named creditors in that filing that, for some reason, hadn't been fully revealed until now.  Maybe I was too cautious.

In any event, dhenson and entropy-uc, I'm sorry if my ambiguity contributed to a misunderstanding.

I am committed in my own small way to the entropy-uc-led Chapter 7 filing, and that's where I intend to stay.



Based on what was revealed today everyone here should be very grateful for the few folks who stepped up to make the bankruptcy filing.

Without that filing, Liquidbits would have walked away with all the remaining chips Hashfast had on hand, and the remaining creditors would have been left with nothing.
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May 23, 2014, 06:00:12 AM
 #9478

How that could ever be possible is beyond my understanding.

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 23, 2014, 06:58:41 AM
 #9479

wait and see.

BTC: 1DREAMcn1ELY1cSnNwrjRazGqfW1NyvLJu    DigitalOcean Reg: https://www.digitalocean.com/?refcode=bd7f576a880a
Coinbase: http://bit.ly/1jc0dpQ
Cloud Hashing: https://www.hashyun.com/?f=u86
Entropy-uc
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May 23, 2014, 07:35:00 AM
 #9480

How that could ever be possible is beyond my understanding.

Read the filings.  Liquidbits had a restraining order controlling nearly all of the supposed chip inventory.

The really interesting question is this: Liquidbits made this deal for chips and 25% of revenue being kicked back to Hashfast on March 4th.  But Hashfast defaulted.  So who made Hashfast a better offer?
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