HashFast announces specs for new ASIC: 400GH/s

[iCEBREAKER]

Mr teal,

Your convoluted question salad demonstrates exactly why HashFast cannot count MPP chickens before they hatch.

Thanks for helping me explain the many uncertainties precluding firm MPP commitments at this premature time.

[1714145135]

1714145135

[MrTeal]

Mr teal,

Your convoluted question salad demonstrates exactly why HashFast cannot count MPP chickens before they hatch.

Thanks for helping me explain the many uncertainties precluding firm MPP commitments at this premature time.

It's really not a convoluted question, or at least it doesn't have to be. A simple answer to "Will the Batch 1 BabyJet MPP modules go to the back of the full order queue when January 29th arrives, and if not when will the be shipped relative to the other batches in the order queue?" is all that's needed.

[iCEBREAKER]

ok Mr teal, here's your "simple answer."

IT DEPENDS.

[MrTeal]

ok Mr teal, here's your "simple answer."

IT DEPENDS.

I wasn't asking you.

[perezoso]

I just want to say that every time I read this thread my faith in humanity is restored.

[tacotime]

Providing MPP modules to Batch 1 customers at no additional cost and after the sale has been the best thing HF has done so far. I don't understand how you can criticize them about that, much less take them to court. You can pound your chest all you want but this is just not going to happen.

The thing I object to is that MPP was designed to protect against excessive difficulty increases. Not delays.

HF has done nothing to compensate against delays so it is the customers that will pay the price for HF failures.

correct. Also see [https://bitcointalk.org/index.php?topic=262052.msg3527186#msg3527186].

The MPP was born in an attempt to attract customers at a time the network difficulty grew dramatically. It is a value-added deal which makes this offer very attractive.

With the radio silence from Hashfast there is hardly any way to know what is really going on behind the curtain. All things are possible - from an honest attempt to fix engineering problems and avoiding PR interference to an attempted cover-up of fraudulent advertisement.

Dependent on how Hashfast used customer money to finance production (which has not been stated anywhere and should be considered malpractice), Hashfast customers may be locked into the fate of the company. If it succeeds customers will either be compensated for any shortcomings or may otherwise have grounds for litigation charges. If it fails, customers will have a claim on any left-overs after the company will have to file for bankruptcy. If customer funds were used, it's a misuse of financing, because it lets customers take all the risk while the potential gains (overall profitability of the company) is kept in private hands. Equity financing would have been more appropriate in that case.

Again - without anymore information coming from Hashfast it's hard to paint a precise picture of what is going on. For one it would be interesting to learn how Hashfast stored the customer funds to keep them available for a refund.

My deepest fear is that their business model was dependent on them shipping on time and that they were really hoping to not have to pay out any of the MPP, and now that it's obvious they will, there's no possible way for the company to honour the MPP without taking on substantial losses and/or bankrupty.  The hardware for the MPP is still going to cost the company more or less the same now as it does in a couple months, and if they made a gamble on not having to pay for it, everyone will suffer in the end.

I don't want to spread FUD though, I guess we'll have to give HashFast the benefit of the doubt until we hear otherwise.  Like everyone else, I'm crossing my fingers and hoping from an e-mail from them saying they haven't slept for the past two weeks because they've been trying to prevent their company from being insolvent and working hard on getting the consumers their hardware out as fast as they can, while what they're doing is still relevant.

[jddebug]

Providing MPP modules to Batch 1 customers at no additional cost and after the sale has been the best thing HF has done so far. I don't understand how you can criticize them about that, much less take them to court. You can pound your chest all you want but this is just not going to happen.

The thing I object to is that MPP was designed to protect against excessive difficulty increases. Not delays.

HF has done nothing to compensate against delays so it is the customers that will pay the price for HF failures.

correct. Also see [https://bitcointalk.org/index.php?topic=262052.msg3527186#msg3527186].

The MPP was born in an attempt to attract customers at a time the network difficulty grew dramatically. It is a value-added deal which makes this offer very attractive.

With the radio silence from Hashfast there is hardly any way to know what is really going on behind the curtain. All things are possible - from an honest attempt to fix engineering problems and avoiding PR interference to an attempted cover-up of fraudulent advertisement.

Dependent on how Hashfast used customer money to finance production (which has not been stated anywhere and should be considered malpractice), Hashfast customers may be locked into the fate of the company. If it succeeds customers will either be compensated for any shortcomings or may otherwise have grounds for litigation charges. If it fails, customers will have a claim on any left-overs after the company will have to file for bankruptcy. If customer funds were used, it's a misuse of financing, because it lets customers take all the risk while the potential gains (overall profitability of the company) is kept in private hands. Equity financing would have been more appropriate in that case.

Again - without anymore information coming from Hashfast it's hard to paint a precise picture of what is going on. For one it would be interesting to learn how Hashfast stored the customer funds to keep them available for a refund.

My deepest fear is that their business model was dependent on them shipping on time and that they were really hoping to not have to pay out any of the MPP, and now that it's obvious they will, there's no possible way for the company to honour the MPP without taking on substantial losses and/or bankrupty.  The hardware for the MPP is still going to cost the company more or less the same now as it does in a couple months, and if they made a gamble on not having to pay for it, everyone will suffer in the end.

I don't want to spread FUD though, I guess we'll have to give HashFast the benefit of the doubt until we hear otherwise.  Like everyone else, I'm crossing my fingers and hoping from an e-mail from them saying they haven't slept for the past two weeks because they've been trying to prevent their company from being insolvent and working hard on getting the consumers their hardware out as fast as they can, while what they're doing is still relevant.

Well, if they held on to any of the bitcoin they were paid with they should be sitting really good for paying for additional hardware.

[gjpminingco]

I think it is WAY to early to make any assumptions about the companies ability to pay for hardware production for the MPP hardware.
I think it is best to just take on a wait and see approach for right now and not jump to any conclusions and start spreading any FUD and starting a angry mob mentality because every one is just speculating at this point.

[tacotime]

I think it is WAY to early to make any assumptions about the companies ability to pay for hardware production for the MPP hardware.
I think it is best to just take on a wait and see approach for right now and not jump to any conclusions and start spreading any FUD and starting a angry mob mentality because every one is just speculating at this point.

Yeah.

[pwnyboy]

My deepest fear is that their business model was dependent on them shipping on time and that they were really hoping to not have to pay out any of the MPP, and now that it's obvious they will, there's no possible way for the company to honour the MPP without taking on substantial losses and/or bankrupty.  The hardware for the MPP is still going to cost the company more or less the same now as it does in a couple months, and if they made a gamble on not having to pay for it, everyone will suffer in the end.

That sounds like a good motivation for HashFast to withold hardware and mine.  I'm not saying they will, I'm saying it's something they've got to be factoring into the equation at this point, having already pissed everyone off significantly now.

[DPoS]

I understand it would be very nice to have specific commitments of X MPP miniboards on Y date.

However, this is an unreasonable/impossible expectation for several reasons.

#1...because everything they promise is utter bullshit!

How's the printer?

[Minor]

I just want to say that every time I read this thread my faith in humanity is restored.

I do not think that word means what you think it means.

[niothor]

I would have to agree. People suddenly want refunds in BTC as an investment they never made. If you invested in BTC, then that's that. If you paid for something in BTC, then BTC rises, you can't demand a refund for an easy second route. A couple of weeks ago, cedivad let me borrow ~.03 btc when they were at around 100 something dollars. I just needed to get some btc out of my Bitpay. I told him I would pay it back, he said I could keep it. I said okay and thanks. Suddenly when BTC started rising, he told me to pay him back or he was going to make a claim against me here on BTC talk. I didn't have the coins anymore because I used them, because he let me have them.

I think we should all stop focusing on getting refunded in BTC and suddenly being rich over an in direct investment. We all purchased Baby jets. And we need to focus on getting those. If you want a refund, have some morals and be honest.

Let's try to get what we paid for.

WAIT!
People are still thinking there is a slight chance to get their refunds in BTC?

[defcon23]

Interesting thought.  Could you point out the MPP clause in the ToS you accepted when purchasing?

What's your point? 

You can go read the MPP yourself if you are confused about it. 

The MPP only guarantees more hashing power (with a cap) it doesn't guarantee an positive ROI.  Guaranteeing a positive ROI would require the MPP to offer unlimited additional hashrate and it clearly indicates it is capped at 400%.  I am not happy about it but a judge (if you want to waste your money and potentially see the inside of the court room in 3-6 months) is going to take a neutral aproach to the reading.  Just because someone "could" be confused isn't the standard of proof.  HashFast could probably have been more "creative" with the language and still win in court.

+10 ho yes !!

[fubly]

I think, the nex ;Dt time we were heard from HF is the 6. December.

I hope, they will made an amazing video like Knc.

Then all hurts and pain are blowing away.

I pray for this.


Dear god of Bitcoins, please let my wishes comes true.

 

[tom99]

  How come website did not need to register when you are new customer?  I am worrying to check my account later for no register at all.

[tacotime]

Yes... I do agree with you. We run mentaso.com and I am in discussions with one of the Hashfast crew about getting some info your way. I have asked a few times and been presented with some stale info, but recently things have changed a bit and they are actually being more vocal with us. There are only so many email reminders I can send before I think a forum post is needed to push along the flow of info.

From what I have been told, they do have a unit running, but I dont believe its with their Hashfast Asic chip. Of course I cannot confirm this as I have yet to see the actual rig.

https://bitcointalk.org/index.php?topic=340079.0

[iCEBREAKER]

ok Mr teal, here's your "simple answer."

IT DEPENDS.

I wasn't asking you.

Doesn't matter who you were asking.

The answer is "IT DEPENDS" for reasons which have already been explained.

[perezoso]

I was up in Norway last year, way up in Norway, and flew back to Oslo with a big bunch of the crew of the Oden, the Swedish icebreaker. They were nice guys.  Tough, but nice.  This icebreaker we have around here gives them a bad name, because he's just nothing but quarrelsome.

[stompix]

Well , HF  may not have the best customer support , the best asic on the market , the best anything , but they do have the most annoying shill on the forum