HashFast announces specs for new ASIC: 400GH/s

[RoadStress]

I wonder if at this exchange rate HF would allow full BTC refunds 

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[Syke]

I wonder if at this exchange rate HF would allow full BTC refunds 

That's the great thing about HF. If the price goes up, they refund USD. If the price goes down, they refund BTC. Windfall for HF no matter what happens.

[allinvain]

I wonder if at this exchange rate HF would allow full BTC refunds 

It's funny you mention this because I think the btc exchange rate was very close to what it is now when most of us bought our hashcrap miners with btc. Roughly going by the charts price was around $170 to $180 I think.  So yeah this may be the time to refund in btc, but I am 110% certain this is never going to happen. There is likely nothing of value left in this failure of a company. All the money went to lawyers, to pay for the undeserved salaries of the people running the company, etc.

On a different subject, I am amazed this thread is still going. I though this was a dead horse already. 

[iCEBREAKER]

So during the bankruptcy thing was there an audit on how were the money spent? Because I'm damn curious where would 40M-50M$ vanish while producing only a handful of miners. 

y isnt ne one responding to this?? i myself wanna know specifics about this not just a blanket statement like "production costs".

Because there wasn't. Wait for the icetard to come and tell you that it is all in the documents...

Hi RS, I came as soon as I heard!   

Maybe it didn't occur to any of the ~12 lawyers involved to see if HF had concealed assets.

Maybe it takes the insight of a Sherlock Holmes like you to open such piercing lines of inquiry.

Or maybe high tech start-ups go bankrupt after burning through piles of cash all the time, and you just can't accept your hasty rush to judgement was wrong.

[RoadStress]

Or maybe high tech start-ups go bankrupt after burning through piles of cash all the time, and you just can't accept your hasty rush to judgement was wrong.

Fair enough. I would like to know on what exactly were the money spent. Can you tell us that?

[iCEBREAKER]

Or maybe high tech start-ups go bankrupt after burning through piles of cash all the time, and you just can't accept your hasty rush to judgement was wrong.

Fair enough. I would like to know on what exactly were the money spent. Can you tell us that?

"Exactly?"

An exhaustive itemized accounting would be hundreds or thousands of pages long. 

Can you tell us why you keep requesting such an unreasonable thing from me? 

Don't you believe the 12+ concerned bankruptcy lawyers did their jobs?  Or are they part of the conspiracy too, along with the judge?   

I suspect you're this making absurd demand just so you can keep your confirmation bias safe from cognitive dissonance.  And your pride huge ego can't admit being wrong.

But please, give us a more plausible explanation.  If you can.   

[Taugeran]

One thing I may have missed. Was the ASIC Maskset or rights to it put up during the auction or do they reside with Global foundries?

[notabtcnuub]

There have been a lot of recent legal docs posted on https://cases.processgeneral.com/cases/document/case/5/hashfast-technologies-llc/

Can someone with an understanding of the American judicial system and bankruptcy law summarize what is going on please?  It is hard to understand from reading through all of the docs.

[cedivad]

Basically the company is shutting down and what's left is moved to a trust. The committee is being dissolved, so I don't understand how exactly they plan on deciding what to do with the claims.

[Micky25]

ignore?

[armyof1ne]

Basically the company is shutting down and what's left is moved to a trust. The committee is being dissolved, so I don't understand how exactly they plan on deciding what to do with the claims.

please correct me if i am wrong, I'm sure you will
but under docket 286 it states that unsecured claims(customers basically) are only paid out after administration has been paid... administration includes lawyers fees,staff, court fees etc. View VIII

Excess cash is what the trust is in control of, if there is no remaining excess cash from liquidation, no unsecured claims are paid out.

basically, all money that was acquired from the liquidation was paid to administration, there is no remaining excess cash.

[jjiimm_64]

Basically the company is shutting down and what's left is moved to a trust. The committee is being dissolved, so I don't understand how exactly they plan on deciding what to do with the claims.

please correct me if i am wrong, I'm sure you will
but under docket 286 it states that unsecured claims(customers basically) are only paid out after administration has been paid... administration includes lawyers fees,staff, court fees etc. View VIII

Excess cash is what the trust is in control of, if there is no remaining excess cash from liquidation, no unsecured claims are paid out.

basically, all money that was acquired from the liquidation was paid to administration, there is no remaining excess cash.

And this is basically why I did not want them to go chapter 7 or 11 or whatever.. I was hoping beyond hope that someone would come in and try and save the company.. at least we may have gotten paid eventually..  see BFL.. eventually they refunded everyone.

[iCEBREAKER]

Basically the company is shutting down and what's left is moved to a trust. The committee is being dissolved, so I don't understand how exactly they plan on deciding what to do with the claims.

please correct me if i am wrong, I'm sure you will
but under docket 286 it states that unsecured claims(customers basically) are only paid out after administration has been paid... administration includes lawyers fees,staff, court fees etc. View VIII

Excess cash is what the trust is in control of, if there is no remaining excess cash from liquidation, no unsecured claims are paid out.

basically, all money that was acquired from the liquidation was paid to administration, there is no remaining excess cash.

And this is basically why I did not want them to go chapter 7 or 11 or whatever.. I was hoping beyond hope that someone would come in and try and save the company.. at least we may have gotten paid eventually..  see BFL.. eventually they refunded everyone.

You warned us once the lawyers got involved nobody else would get a single penny.

cedivad did a good job relentlessly hyping his lawyer and laying out a garden path to an easy court victory.

PM and MM were happy to jump on the legalistic bandwagon.  As were Gallo's clients suckers.

Now we get to laugh at them, and their ambulance chasing attorneys.

I'll get your BTC back from Hashfast's SECRET ESCROW MINE, plus damages.  Trust me!

[CryptKeeper]

BTW competitor CoinTerra just filed for chapter 7:

http://www.coindesk.com/bitcoin-mining-firm-cointerra-files-chapter-7-bankruptcy/

[cedivad]

BTW competitor CoinTerra just filed for chapter 7

If only HF had done this instead of waiting a month before converting to chapter 11...

[armyof1ne]

BTW competitor CoinTerra just filed for chapter 7

If only HF had done this instead of waiting a month before converting to chapter 11...

I think letting them do it on their own would have left chap 7 as an option, forcing someones hand tends to get you the middle finger fast... people puff up in pride like "no, we got this" even still, the lawyer involvement was an extremely poor choice...  *insert told ya so*

[ImI]

BTW competitor CoinTerra just filed for chapter 7

If only HF had done this instead of waiting a month before converting to chapter 11...

I think letting them do it on their own would have left chap 7 as an option, forcing someones hand tends to get you the middle finger fast... people puff up in pride like "no, we got this" even still, the lawyer involvement was an extremely poor choice...  *insert told ya so*

qft

involving lawyers killed the company.

[cedivad]

qft
involving lawyers killed the company.

I thought it was the scammers, not the scammers-employed lawyers.

[armyof1ne]

qft
involving lawyers killed the company.

I thought it was the scammers, not the scammers-employed lawyers.

We already discussed this, thinking is something you aren't good at.

[ninjarobot]

here is 700k:  I am willing to bet simon has the keys to https://blockchain.info/address/1KFrqkEGy6Yq7X4SYCbYoj8HEwfbWVUDJ9

my 210btc is part of the 3000 btc at that address just 2 steps away from my payment.

You are probably right. It must be painful to see your coins sitting there in plain sight. F*ckers.