HashFast announces specs for new ASIC: 400GH/s

[crumbs]

I'm a Labcoin Lapdog, yes I am.  Everybody buy Labcoin.  Don't even look at anything else!

The MPP says that if you don't make back your investment in a couple of months, HashFast will make sure you do.  Why would anybody have a problem with that?  Oh, right, it's not the company Ytterbium invested in.

See, noah, three (3) means "a couple" only to polygamists & people who flunked math.
Even polygamists don't consider getting a few chips in the mail to be ROI.
How's ur maths?

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[noah tall]

I'm a Labcoin Lapdog, yes I am.  Everybody buy Labcoin.  Don't even look at anything else!

The MPP says that if you don't make back your investment in a couple of months, HashFast will make sure you do.  Why would anybody have a problem with that?  Oh, right, it's not the company Ytterbium invested in.

See, noah, three (3) means "a couple" only to polygamists & people who flunked math.
Even polygamists don't consider getting a few chips in the mail to be ROI.
How's ur maths?

My Maths R Gud.  It goes like this:

Should I buy a KnCMiner for $17.49 Gh/s with no free chips later if the network explodes, or
Should I buy a HashFast for $14,00 Gh/s with up to 4x the hashing coming in the mail if the network explodes?

Wow, I just can't decide.  Maybe I should ask crumbs for a cupla idears.

[jspielberg]

I think the MPP as structured won't necessarily get you to ROI...

That being said... they are the only company I know of that is even trying to structure some delivery (and more importantly post-delivery) incentives in the miner's favor.

I personally find all the legalese very off-putting... but our legal system is what it is.  I believe HF is trying/will do the right thing by their customers.  I have an early pre-order with Hashfast and currently content with my decision.

[testerx]

I guess these are finally sold out.  Was working on getting the funds for this but I guess that ship has sailed so I guess we'll see if this MPP will help with ROI.  Even with this plan there's a good chance you wouldn't ROI because of the addition other costs aside from the chips, if the first machine wasn't able to ROI it's likely that the other machines you could build with the free chips would be at an even greater disadvantage by the time they were built so unless the cost was crazy low in comparison to the first unit you'd be digging your own hole deeper.

[Ytterbium]

I'm a Labcoin Lapdog, yes I am.  Everybody buy Labcoin.  Don't even look at anything else!

The MPP says that if you don't make back your investment in a couple of months, HashFast will make sure you do.  Why would anybody have a problem with that?  Oh, right, it's not the company Ytterbium invested in.

No. They will give you up to 4x chips 90 days later.  There is zero guarantee that those chips will ever be profitable.

[DeathAndTaxes]

I guess these are finally sold out.  Was working on getting the funds for this but I guess that ship has sailed so I guess we'll see if this MPP will help with ROI.  Even with this plan there's a good chance you wouldn't ROI because of the addition other costs aside from the chips, if the first machine wasn't able to ROI it's likely that the other machines you could build with the free chips would be at an even greater disadvantage by the time they were built so unless the cost was crazy low in comparison to the first unit you'd be digging your own hole deeper.

Or you could sell the chips.  What do you think chips will be worth in GH/s in January?  $4 per GH/s?  $2 per GH/s $1 per GH/s?  Lets use $1.  1,600 GH/s is $1,600.  So sell the chips to someone else, maybe someone like you who was looking to buy a miner but missed the chance.  

[plasmoske]

http://www.forexminute.com/bitcoin/now-get-the-new-bitcoin-mining-chip-from-hashfast-technologies-llc-12140

Lol everyone who just ordered Hashfast just got done.

A spokesperson for HashFast Technologies LLC says that the GN chip will perform more than 400 Ghash per second and will ‘tape-out’ and be sent to manufacturing in August. However, he admitted that fabrication will take a little bit over two months and due to that reason the chips cannot be shipped anytime before October to customers.

So I'm guessing mid Nov to early Dec for you guys. No way you're going to achieve ROI.

[Ytterbium]

I guess these are finally sold out.  Was working on getting the funds for this but I guess that ship has sailed so I guess we'll see if this MPP will help with ROI.  Even with this plan there's a good chance you wouldn't ROI because of the addition other costs aside from the chips, if the first machine wasn't able to ROI it's likely that the other machines you could build with the free chips would be at an even greater disadvantage by the time they were built so unless the cost was crazy low in comparison to the first unit you'd be digging your own hole deeper.

Or you could sell the chips.  What do you think chips will be worth in GH/s in January?  $4 per GH/s?  $2 per GH/s $1 per GH/s?  Lets use $1.  1,600 GH/s is then $1,600.  So sell the chips to someone else, maybe someone like you who was looking to buy a miner but missed the chance. 

Which would only make the babyjet profitable if you managed to mine $4k by that time. But also, raw chips aren't that useful as people will need to be able to buy PCBs to put them in, figure out how to do BGA soldering or get someone to do it for 'em, etc.

[DeathAndTaxes]

I guess these are finally sold out.  Was working on getting the funds for this but I guess that ship has sailed so I guess we'll see if this MPP will help with ROI.  Even with this plan there's a good chance you wouldn't ROI because of the addition other costs aside from the chips, if the first machine wasn't able to ROI it's likely that the other machines you could build with the free chips would be at an even greater disadvantage by the time they were built so unless the cost was crazy low in comparison to the first unit you'd be digging your own hole deeper.

Or you could sell the chips.  What do you think chips will be worth in GH/s in January?  $4 per GH/s?  $2 per GH/s $1 per GH/s?  Lets use $1.  1,600 GH/s is then $1,600.  So sell the chips to someone else, maybe someone like you who was looking to buy a miner but missed the chance. 

Which would only make the babyjet profitable if you managed to mine $4k by that time. But also, raw chips aren't that useful as people will need to be able to buy PCBs to put them in, figure out how to do BGA soldering or get someone to do it for 'em, etc.

Which is why nobody bought bitfury or Avalon chips.  Oh wait they did.   The company has already indicated they will have boards available and if there is a market (and 880TH/s is ~ 4x the mining capacity of all Avalon chips sold) third parties will offer the same thing.

Come on you don't honestly think the only option for someone buying chips is to break out their soldering iron and home build a board do you? 

[plasmoske]

Let's just say Chips get done by Nov 10th (best case scenario) and they get delivered to HashFast within 2-3 days. Then they got about 4-5 days to put everything in boards and rig it all up / water cooling etc. So it'll be Nov 17-18th at this point and then they have to send it out for delivery. Another day. And could take anywhere from 3 to 8 days for customers to get it. That's around almost December.

Let's just hope December difficulty is not thru the roof

[plasmoske]

You reckon you guys could achieve ROI. Starting date 1st Dec and end date "January 23, 2014"?

If not, get ready to prepare some more money for PCB/assembly/delivery (at least 1.4k-2k per chip)

[DeathAndTaxes]

You reckon you guys could achieve ROI. Starting date 1st Dec and end date "January 23, 2014"?

If not, get ready to prepare some more money for PCB/assembly/delivery (at least 1.4k-2k per chip)

Or once again ... sell the chips to someone else.

Then again all units have been sold, there is nobody for your to "protect" anymore.  Not really sure why you are here?

[plasmoske]

So all talks are off once sales have been completed?

[plasmoske]

How much you reckon you could sell a raw hashfast chip (gen1, batch1) for after Jan 23, 2014 anyway?

[crumbs]

You reckon you guys could achieve ROI. Starting date 1st Dec and end date "January 23, 2014"?

If not, get ready to prepare some more money for PCB/assembly/delivery (at least 1.4k-2k per chip)

Or once again ... sell the chips to someone else.
...

So much of everyone's reasoning revolves around the greater fool theory. 
If building boards for these chips makes no economic sense to you, why should it make sense for anyone else?

And where are people getting January? 
HashFast guarantees to send out your *first* Baby Jet by the start of next year, you can't request a refund until 2014.
Mine that January baby, and *request* your chips in April, 2014.
If everything goes as promised, which will be a first, you'll get your chips in April, then you can decide on fiendishly clever deployment schemes, like unloading chips to a greater fool.

[plasmoske]

Well on their MPP they say if no ROI by Jan 23, 2014 (comes and goes) then they will give out chips or that's how I'm reading it.

How fast they take to send out chips? No idea.

[plasmoske]

Well on their MPP they say if no ROI by Jan 23, 2014 (comes and goes) then they will give out chips or that's how I'm reading it.

How fast they take to send out chips? No idea.

I'll check -- original claim was 90 days from the time you start mining.  This would make the worst case scenario 23 days?

Oh you're 100% right. It's 90 days to mine not mine by Jan 23, 2014. Got confused by their examples and missed that one sentence.

Yeah if you start mining start of Dec + 90days = 1st of March. Getting extra chips then would be pretty much useless. It's much worst than I thought.
I was thinking alright Jan 23, not that damaging (since that's what they used in their examples).

Their chips will be worthless by March 1st, 2014. Well not exactly worthless. Just adding up to 4x the power most likely still won't let you get your ROI.

[crumbs]

Well on their MPP they say if no ROI by Jan 23, 2014 (comes and goes) then they will give out chips or that's how I'm reading it.

How fast they take to send out chips? No idea.

I'll check -- original claim was 90 days from the time you start mining.  This would make the worst case scenario 23 days?

Oh you're 100% right. It's 90 days to mine not mine by Jan 23, 2014. Got confused by their examples and missed that one sentence.

Yeah if you start mining start of Dec + 90days = 1st of March. Getting extra chips then would be pretty much useless. It's much worst than I thought.
I was thinking alright Jan 23, not that damaging (since that's what they used in their examples).

Their chips will be worthless by March 1st, 2014. Well not exactly worthless. Just adding up to 4x the power most likely still won't let you get your ROI.

Right now the 90-day difficulty increase is a measly 441%, i shudder to think what it will be if just half of the ASIC manufacturers keep their word... 
Exponential rates

[ImI]

[starsoccer9]

As long as the unit goes out before BFL's unit I am happy. As far as the mining goes with http://alydian.co/ what there site says then I dont think anyone will ever ROI.

FYI they are saying 100-1000terahash for sale in october. even if best case they only get 100terahash 100terahashs would be a good percentage of the network and alot more then the MPP would cover.