HashFast announces specs for new ASIC: 400GH/s

[itod]

Even if HashFast is not a scam (let's assume it for a minute just for the sake of the argument), if this is the best entry strategy that the management team thought of - it sure places big question mark on their abilities. Wouldn't it be totally different if you had *something* to show to the interested public before you ask for that kind of money?

[Ytterbium]

My post above said "about equal".  I stand by that appraisal.  

I was talking about whether it or not someone who could afford $500k and wanted to invest all of it in bitcoin mining would want send that money to gridfinity, tomorrow, or whether you'd be better off ordering 62 KnC Jupiters, or even developing their own chips instead. even if we were to assume that HashFast and KnC were both have chip designs that work which I think is likely - although gridfinity's ability to execute is still questionable (IMO, which doesn't matter that much because I don't have $500k anyway).

Anyway, you seem pretty stupid, so clearly arguing with you would be a waste of time.  You're certainly wrong on the facts, at least. I certainly don't care if you pre-order from KnC or not.  If you want to run around saying KnC is a scam you can do it in the KnC thread.

[erk]

My advice is avoid any large scale mining purchases that have the slightest sniff of a centralized mining farm. It's bad for the BTC network. Just look at what ASICminer have done to spoil mining for all. Keep that hash rate spread around as much as possible.

The going rate on new ASIC releases should be less than $20 per GH/s or it wont be a happy ROI.

[crumbs]

Here you go, read all about it (was this posted already? sorry if it was -- their index page is a dead "coming soon")
>>>
 http://hashfast.com/news

Never mind, they fixedized it.  Here's a partial screencap ...

[HashFast]

Even if HashFast is not a scam (let's assume it for a minute just for the sake of the argument), if this is the best entry strategy that the management team thought of - it sure places big question mark on their abilities. Wouldn't it be totally different if you had *something* to show to the interested public before you ask for that kind of money?

I believe Gridfinity's sales strategy is to bring potential customers into our office and show them what HashFast is doing. I really doubt a website of any kind would generate a sale of that volume.

John

[cryptograd]

So this would be John Skrodenis of Hashfast;

www.linkedin.com/in/johnskrodenis

oh great another marketeer selling chips

wonder how this is gonna play out -_-

[Loredo]

I believe Gridfinity's sales strategy is to bring potential customers into our office and show them what HashFast is doing. I really doubt a website of any kind would generate a sale of that volume.

Maybe it wouldn't.  But it probably would have been helpful if he had indicated a little bit about why he wanted the money.  You know, a little hint about the business stategy?

Maybe somebody ought to go get a copy of out-of-print To Catch a Mouse--Make a Noise Like a Cheese, written by the guy who put Radio Shack in the computer business way back when.  Main takeaway:  Tell people what you are selling, and at what price.

[Tad3j]

My advice is avoid any large scale mining purchases that have the slightest sniff of a centralized mining farm. It's bad for the BTC network. Just look at what ASICminer have done to spoil mining for all. Keep that hash rate spread around as much as possible.

The going rate on new ASIC releases should be less than $20 per GH/s or it wont be a happy ROI.

Well, we are all looking to meet those criteria! But there are a few problems!

• The money would always find a way to money. That means the people with money will buy as much units as they want.
• The second thing, if I use psychology, is the company is not going to have a 12 different prices for a single product. That means that not everyone on this planet is thinking about money, BUT everyone needs it for living (our monetary system).
• Third thing is, if the company wants to reach as many people as they can, they should equaly proportionally send out the devices according to devices available: 10 devices available, 3 people gets 1 device, 2 people gets 2 devices and one human gets 3 devices.
• And the last one is, that companies, does not use the psychology in selling. While they want money ASAP, they forget about selling psychology and one of the advantages of targeting more people and also selling something that is wanted from a lot people, is that, the product can be sold: one product for one customer.

[ninjarobot]

The best way to sell something is 1) to have something to sell and 2) sell it at a competitive price. This 500K upfront without a product is not the way to do it. Come on HashFast, you can do better.

[marketalchemy]

I am looking forward to seeing what these guys have. If they have several people vouching for them (as well as a company like Uniquify) then I am guessing that they must have something tangible to offer. We just have to be patient...

[trigeek]

I am looking forward to seeing what these guys have. If they have several people vouching for them (as well as a company like Uniquify) then I am guessing that they must have something tangible to offer. We just have to be patient...

You really need to try a little harder building up a fake profile here before shilling for a company.  Either that or just come out and say who you actually are.  Your twitter account is followed by HashFast themselves, yet you act like you only just figured out who they are. Shady.

https://twitter.com/MarketAlchemy/followers

[markm]

Well as long as we're making shit up, how about this made up story.

Lets say it takes maybe ten million to get this far. At half a million a piece that is twenty pieces of the pie already sold just to get this far.

Maybe none of those twenty want anything to do with this forum full of bullshitters and trolls but a few million more to grease the wheels wouldn't hurt if some hero trolls want to deal with the riff-raff. So what the heck, throw it out there, hey hero trolls, do any of you that play on our scale wanna piece of the pie so you can be even more heroic in your den of trolls known as bitcointalk?

Maybe nothing will come of it, but at least later when the trolls say its not fair you twenty piepeople having such bit mining operations and exclusive access to such hot chips we can say hey we gave you an opportunity, if you lot can't even raise half a frakkin mill too bad, its less than ten thousand bitcoins for gosh sake, heck closer to five thou, whats your problem?

Did I do it right?

-MarkM-

[gateway]

Lets just see what comes out next from these guys, I know everyone is gun shy esp after people like bfl paved the way of crapping all over their customers, now everyone is quick to judge the next guy...

[bitcoinarnold]

I am looking forward to seeing what these guys have. If they have several people vouching for them (as well as a company like Uniquify) then I am guessing that they must have something tangible to offer. We just have to be patient...

You really need to try a little harder building up a fake profile here before shilling for a company.  Either that or just come out and say who you actually are.  Your twitter account is followed by HashFast themselves, yet you act like you only just figured out who they are. Shady.

https://twitter.com/MarketAlchemy/followers

Too funny, the guy just deleted his twitter account... I thought this josh guy was good at marketing?

[trigeek]

I am looking forward to seeing what these guys have. If they have several people vouching for them (as well as a company like Uniquify) then I am guessing that they must have something tangible to offer. We just have to be patient...

You really need to try a little harder building up a fake profile here before shilling for a company.  Either that or just come out and say who you actually are.  Your twitter account is followed by HashFast themselves, yet you act like you only just figured out who they are. Shady.

https://twitter.com/MarketAlchemy/followers

Too funny, the guy just deleted his twitter account... I thought this josh guy was good at marketing?

Still have the page up in a browser tab, in case the google cache up above goes away: https://i.imgur.com/RPOZwjM.png

[naRky]

https://www.facebook.com/HashFast

About
HashFast Technologies is a fabless semiconductor company developing custom ASIC chips and equipment for specialized cryptographic hashing.
Description
HashFast Technologies LLC is a fabless semiconductor manufacturer specializing in high-performance cryptographic ASICs.

Our mission is to deliver the absolute best technology for the network verification (aka "mining") of digital currencies, specifically Bitcoin.

Our products are high-performance ASICs. Our first chip, the G1 microprocessor, is in the final stages of development. The G1 will 'tape-out' and be sent to manufacturing during the first half of August. Fabrication will take a little bit over two months, and the chips will ship to customers as soon as they leave the factory.

The G1 will have more than 50 times more hashing capacity per chip than any currently available solution, and uses as little as 10% of the power per Ghash as the current-generation ASICs.

HashFast Technologies LLC was founded in San Francisco in 2013 by by Simon Barber and Eduardo de Castro.

[Ytterbium]

You really need to try a little harder building up a fake profile here before shilling for a company.  Either that or just come out and say who you actually are.  Your twitter account is followed by HashFast themselves, yet you act like you only just figured out who they are. Shady.

Why would they follow their own shill on twitter?

LOL he deleted his account. Shit's getting shady here.

Okay, that's weird.

Still have the page up in a browser tab, in case the google cache up above goes away: https://i.imgur.com/RPOZwjM.png

This guy has 1 tweet ever, and he's followed both by HashFast and ASICMiner.info and betsofbitcoin and A sales VP for AsheleyMaddison (a dating site specifically for married people tho hook up and have affairs?)  What?

and the twitter account is deleted 40 minutes after it's pointed out on the forum?

Super weird.

Maybe none of those twenty want anything to do with this forum full of bullshitters and trolls but a few million more to grease the wheels wouldn't hurt if some hero trolls want to deal with the riff-raff. So what the heck, throw it out tyhere, hey hero trolls, if any of the you play on our scale wanna piece of the pie so you can be even more heroic in your den of trolls known as bitcointalk?

Maybe nothing will come of it, but at least later when the trolsl say its not fair you twenty piepeople having such bit mining operations and exclusive access to such hot chips we can say hey we gave you an opportunity, if you lot can't even raise half a frakkin mill too bad, its less than ten thousand bitcoins for gosh sake, heck close to five thou, whats your problem?

Did I do it right?

Lol.

Well, who knows what's going on.  Ultimately, if they just want to sell to their rich friends then obviously they don't have to tell us anything. On the other hand if they want to actually sell to the public they are going to need to share a lot more information.  

[huhai0978]

watch

[trigeek]

Just to be clear though- I am very interested in what HashFast can produce... some of it sounds almost too good to be true, but I am hopeful that they'll be able to meet their targets.  I just can't stand shills!  If you have something legitimate you shouldn't have to resort to such tactics.  Keep it real.

[Flashman]

some of it sounds almost too good to be true,

Yep, that's a biggie, I know bitcoin ASICs in general have a bit of a way to go before they're fully bleeding edge state of the art, but this seems like an exponential jump that's larger than might be expected. As if we were all using 8088s at 6mhz (PC/XT class) and then all of a sudden there's a 600Mhz Pentium III (Or if you like 486sx33s to 3.3Ghz  i5s)

Then experience in the community thus far has led us to believe that fabless developers and layout houses have been extremely over optimistic about device performance, and we've seen products or samples hit 1/6 to 1/3 of expected process maximum clock rate, and round about a half of initially projected hash.

I don't think Yifu or friedcat ever told us what they were aiming for on their processes, but initial CPUs on 130nm were running 1.5Gh before they were tuned up. I think 500Mhz on their devices is considered "highly overclocked" so they're below 1/3, nominal clock being under a quarter.

I have some suspicion that the massive parallelism of multiple SHA cores throws the developers for a loop as regards power distribution and heat removal, when other devices they have made have maybe been more sequential, i.e. less of the chip actually turned "on" per clock tick, leading to false assumptions.

Anyway, if Uniquify has spun Hashfast a line of 28nm being good for 4Ghz... then past experience seems to indicate a SHA ASIC will have an absolute maximum of about 1.33Ghz on that, and may need to be dropped to 1Ghz or below to meet power targets. 100 engine chip at 4Ghz, too good to be true. 400 engine chip at 1Ghz, too big to be true.

So from extrapolating from the previous efforts in the field, it certainly seems too good to be true, and sideshow shenanigans with 419-like megabuck solicitations and mysterious shills don't paint a pretty picture.