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Author Topic: HashFast announces specs for new ASIC: 400GH/s  (Read 878360 times)
bkminer
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May 26, 2014, 07:19:02 PM
 #9621

So every day that Simon tries to hold on as CEO and the creditors can't reach a deal among themselves,

Simon Barber is not and never was the CEO, he is the CTO...... I'm not sure why this mistake keeps coming up...

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May 26, 2014, 07:28:53 PM
 #9622

Thank you pmorici for your summary of this case.

So what will this mean? If Hashfast will lost this, what will happend? Or if they win, Someone can give me a quick summary of this?

It sounds like Hashfast is going to go into Bankruptcy no matter what.  At issue is how it happens.  The creditors don't trust the current Hashfast management (rightfully so in my opinion) so the main "win" they will be looking for is a decision that removes the original Hashfast management from control of the company and places it with someone that will look out for the creditor's (ie: customers who are still owed product/money) interests.

The creditors want that to happen ASAP Hashfast doesn't want that to happen and they will probably submit a bankruptcy plan that involves Simon still being part of the company.  The judge seems inclined to deny the creditor's request for immediately removing the HF management based on a procedural issue in the law but the creditor's would be able to ask again in a couple weeks once HF submitted their official chapter 11 bankruptcy plan.

Also being discussed is the best way to recover the most money for the creditors and what a fair market value is for the golden nonce chip which HF claims is their only significant remaining asset.  They caught Simon at the Bitcoin conference in Amsterdam a couple weeks ago apparently trying to make a deal to sell the remaining inventory of chips for below market prices to a mining operation outside US jurisdiction in exchange for a stake of the mined Bitcoins which he seemed to think he could then hide from US law.

Really a lot of things are up in the air at this point so no one knows what will happen.  To use baseball by analogy this is like the first half of the first inning
dhenson
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May 26, 2014, 07:45:32 PM
 #9623

I had always assumed Edwardo was the sleazy one... now it appears Simon was as well.
pmorici
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May 26, 2014, 07:59:30 PM
 #9624

So every day that Simon tries to hold on as CEO and the creditors can't reach a deal among themselves,
Simon Barber is not and never was the CEO, he is the CTO...... I'm not sure why this mistake keeps coming up...

During the hearing they seemed to be saying that Edward was no longer the CEO and that Simon was now running the show.  I think they referred to him at one point as the "president" of Hashfast so you can give Simon what ever title you want but he is now running things.  Listen to the court hearing starting at 18:40
bkminer
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May 26, 2014, 09:42:36 PM
 #9625

So every day that Simon tries to hold on as CEO and the creditors can't reach a deal among themselves,
Simon Barber is not and never was the CEO, he is the CTO...... I'm not sure why this mistake keeps coming up...

During the hearing they seemed to be saying that Edward was no longer the CEO and that Simon was now running the show.  I think they referred to him at one point as the "president" of Hashfast so you can give Simon what ever title you want but he is now running things.  Listen to the court hearing starting at 18:40

They had said Simon ran the show while Edward was dealing with the house fire I believe, but I guess now he's in charge... I have to finish listening to the tape of the hearing.  And I never really thought Simon was less sleazy than Edward, but now having a chip designer running the business makes it even worse I suppose.

Thank you pmorici for the clarification, I'll refrain from speaking up again until I have more facts  Undecided
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May 26, 2014, 09:50:58 PM
 #9626

Will the creditor's lawyers be able to show something concrete to screw HF during the next hearing? That would do something. Like a 3 minute summary of HF's history of mismanagement and fraud (in perfect "9/11: A Conspiracy Theory" corbett report style). I'm listening to the hearing a second time, and I really don't like how the lies of their lawyer seems like to be effective at convincing the judge that HF is acting in good faith... Destroy them, please.
Perhaps. But I would not assume that they have read all of the information you compiled Cedivad. I think your best bet would be to send an email to each of the creditor attorneys today and make sure that they have the details which you believe are most relevant to the next hearing. Then, once a trustee is appointed, it is very common for parties to provide information directly to them in an effort to educate the trustee about the facts of the case.

Who is John Galt?
cedivad
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May 26, 2014, 11:13:01 PM
 #9627

@bkminer, Edward left, full point. There is a vacancy as CEO, probably taken from Simon. Worst case scenario it's their ex CFO, if he hasn't flown back to HK yet. You are confusing things Wink

@btchedge, I doubt they need any help, actually. They are better financed and much more intelligent than I'm. Just take a look at things like the "timeline" and you will figure out yourself a very, very long series of contradictions... So I won't bother them... They have their testimony, their contracts, the statements of Edward that HF was doing just fine financially, the "millions of dollars unaccounted for"... You don't need to resort to our low level gossip (blog, posts, etc) to prove their bad faith. I just really hope that they are gonna be destroyed in no time (and to hear their lawyer saying that he will have to resign, as he promised to (lol, what a low level tactic)).

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
Witness
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May 27, 2014, 04:17:33 AM
 #9628

I think they paid them selfs handsomely. And when the ship 🚢 sinks they are good to go. They did what they wanted, rape everyone.
Did everyone from batch 1 make there bitcoins back?
Or am I Silly for saying That.

_HashFast Technologies_28 nm mining
Producer of High Performance ASICS  (IT'S A SCAM)
BabyJets & Sierras On Sale today!
perezoso
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May 27, 2014, 04:24:03 AM
 #9629

I think they paid them selfs handsomely. And when the ship 🚢 sinks they are good to go. They did what they wanted, rape everyone.
Did everyone from batch 1 make there bitcoins back?
Or am I Silly for saying That.

You really ought to change your signature.  

Nobody has made their bitcoins back mining with Hashfast equipment.

If the ship sinks (liquidation), there are plenty of people who will tie Eddie, Simon, and Scrotum to the deck.

What I mean by that is that Hashfast has angered enough people with its lies and vanishing money that, through some combination of bankruptcy, civil, and maybe criminal lawsuits, it will be ensured that Hashfast's management does not personally profit from this fiasco.
cedivad
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May 27, 2014, 04:17:30 PM
Last edit: May 27, 2014, 05:09:08 PM by cedivad
 #9630

http://blissdevices.com/contact/

I couldn't help myself not noticing similarities... Location, Michael Ramos (previously at HF), Website, ToS...
Who wants to bet that (somehow) we will find a relationship between the two companies, like our money used to tapeout their asic?

Also, PG is gonna like this face: http://youtu.be/LLrQ40qUegg?t=4m26s

"Shipping October 2014". I registered blissdevices.org just in case.

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 27, 2014, 05:46:09 PM
Last edit: May 27, 2014, 09:05:11 PM by perezoso
 #9631

http://blissdevices.com/contact/

I couldn't help myself not noticing similarities... Location, Michael Ramos (previously at HF), Website, ToS...
Who wants to bet that (somehow) we will find a relationship between the two companies, like our money used to tapeout their asic?

Also, PG is gonna like this face: http://youtu.be/LLrQ40qUegg?t=4m26s

"Shipping October 2014". I registered blissdevices.org just in case.

OMG Long Dong rides again.  

We need to make sure that whatever threads are on this company are aware of the HF debacle.  It's really even our responsibility to do so, to make sure nobody else gets sucked into the same trap.

Did anybody ever go down and pull Abram's criminal record at the courthouse in San Jose?  I posted the case numbers in this thread.  Come on, one of you in the Bay Area, it's possible that it is nothing significant... but on the other hand it could very interesting.

This reinforces my suspicion that there was a pronster investment behind Hashfast (represented at the company by Kottmeier and Skrodenis), and those people may have our money, and may have subsequently put it in this company.

EDIT:

Just as an addition, Bliss is claiming on its website that their ASIC will mine Vertcoin, a scrypt-n altcoin that is designed to be ASIC-resistant.  The website also uses the Vertcoin logo.  Well, apparently, the Vertcoin devs have made clear that they will fork VTC if the product from Abram's company hits the streets, so if Bliss ever actually makes any units, they will likely be DOA for anybody wanting to mine Vertcoin with them.  Bliss knows this, as its lead has weighed in on Reddit threads.  The attitude of some of the Vertcoin guys is that Bliss is engaged in what's tantamount to fraud, by suggesting those machines will mine VTC when they know VTC will fork to avoid them.
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May 27, 2014, 06:27:07 PM
Last edit: May 27, 2014, 07:23:07 PM by cedivad
 #9632

I keep having the same dream; they spent everything in development and tapeout costs. BlissDevices isn't incorporated anywhere (at least anywhere I could find with a fast search), yet they have simulations numbers for their ASIC.  Maybe they are really only reselling HF's.

Anyway, we will soon find out.

Edit, they are trying to raise $4M because they can't pay for the tapeout costs, so the dream actually is a dream. It's still to be seen how they paid for the IP, though.

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
ToBoGe9
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May 27, 2014, 06:29:32 PM
 #9633

i didn't read the hole thread, but DONT buy anything from from hashfast.
i have ordered some babyjets from them,and a couple of months later i red, people don't get anything from them. so i asked for a refund of my money, they send me the refund forms, but after that i didn't hear anything more of them.
i have send already over 10 mails, called about 5 times. nothing!!!

this is now going on for at least 2 months.

so DON'T buy anything from them  
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May 27, 2014, 11:08:48 PM
 #9634

i didn't read the hole thread, but DONT buy anything from from hashfast.
i have ordered some babyjets from them,and a couple of months later i red, people don't get anything from them. so i asked for a refund of my money, they send me the refund forms, but after that i didn't hear anything more of them.
i have send already over 10 mails, called about 5 times. nothing!!!

this is now going on for at least 2 months.

so DON'T buy anything from them  
you poor little guy. We didn't have a thread like this when we ordered. It was all about putting faith in hashfast. It sounds like you ordered recently, I hope you paid in cash not bitcoin like I did. Best of luck dude and welcome to the never ending pit of lies from HF. Talk to cidivad he might give you a little guid.

_HashFast Technologies_28 nm mining
Producer of High Performance ASICS  (IT'S A SCAM)
BabyJets & Sierras On Sale today!
fredthedog
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May 28, 2014, 12:25:27 AM
 #9635

http://blissdevices.com/contact/

I couldn't help myself not noticing similarities... Location, Michael Ramos (previously at HF), Website, ToS...
Who wants to bet that (somehow) we will find a relationship between the two companies, like our money used to tapeout their asic?

Also, PG is gonna like this face: http://youtu.be/LLrQ40qUegg?t=4m26s

"Shipping October 2014". I registered blissdevices.org just in case.

The idea of HF money going to tapeout Bliss is just completely ridiculous.

There is no connection other than the fact that certain individuals on the sales side who had a bit of a falling out with HF management ended up at Bliss. Obviously they had been talking to the Bliss founders and each other before they quit or were fired. There is no connection between the technical people at Bliss and the technical people at HF whatsoever.

There is no money connection, unless there are some mutual secret investors behind the scenes. I doubt it. HF generally didn't seem to consider Scrypt to be strategic at all. There was no work on a Scrypt ASIC whatsoever as far as I know. No one even mentioned Scrypt or Altcoins. The attitude is/was that those are also-rans and a distraction from Bitcoin.

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May 28, 2014, 12:28:19 AM
 #9636

There was no work on a Scrypt ASIC whatsoever.
Hey Fred! So, what is the second chip about? ("We have two chips in development which are going to scream").

If as you said before you are not working on a lower node gen, but you guys have a 28nm sha in progress (and that is the first chip), what's the deal with the second one?

John said back at BTC conference @ Singapore that you were "already putting resources" into the lower node gen.
https://www.youtube.com/watch?v=5yj-mmnRWYc

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
aasl
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May 28, 2014, 11:01:44 AM
 #9637

i didn't read the hole thread, but DONT buy anything from from hashfast.
i have ordered some babyjets from them,and a couple of months later i red, people don't get anything from them. so i asked for a refund of my money, they send me the refund forms, but after that i didn't hear anything more of them.
i have send already over 10 mails, called about 5 times. nothing!!!

this is now going on for at least 2 months.

so DON'T buy anything from them 

I am in a similar situation. I bought sierra, not babyjet...

For security, your account has been locked. Email acctcomp15@theymos.e4ward.com
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May 28, 2014, 04:52:51 PM
 #9638

Here I am, in the courtroom.  Discussion pertaining to a sources and uses document.  Gallo is here in the courtroom.  CRO = Chief Revenue Officer?  Hashfast appears to preparing for Chapter 11 or bringing a person in to restore trust.  More to come.  Name is Mr. Brinko I believe.  http://www.brincko.com/about/john-p-brincko
cedivad
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May 28, 2014, 05:00:01 PM
 #9639

Chief restructuring officer maybe?



What should that guy do exactly? Sleep while everyone else keeps doing whatever they did before?

And "appears to be preparing" means that they won't present their plan today? Meh... Another week lost, yeah...

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
Internet151
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May 28, 2014, 05:00:49 PM
 #9640

Someone needs to make a new thread with a weekly summary of what's going on with Hashfast or something, this thread is at almost 500 pages and is way too time consuming to follow.
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