HashFast announces specs for new ASIC: 400GH/s

[ninjarobot]

There was no "december 31st" date and there was no "mining protection plan". Just a 400+ GH/s miner promised in October at well under 1 W/GH/s

True.

Check out the original announcement for example: https://bitcointalk.org/index.php?topic=270384.msg2894615#msg2894615
Or the original ToS: http://pastebin.com/EfS9vmRf

[1714109980]

1714109980

[VolanicEruptor]

Aren't they based in Canada?  I live in Canada... maybe I should try to go after these assholes for false advertising.    

[perezoso]

Well, now that it's pretty clear to a lot of people that October was a fraudulent claim, Hashfast is going to *have* to do something to fix the situation with Batch 1 customers, if they know what's good for them.  

They haven't angered a crowd of acne-ridden 16 year olds with Asperger's, they've pissed off customers that include a number of capable and determined people.  The "BFL model" is not going to work for them. In this case, the ripped off seem likely to much more seriously fight back.  

No, they are not Canadian. The contract assembly house is in Montreal, though.

[VolanicEruptor]

Well, now that it's pretty clear to a lot of people that October was a fraudulent claim, Hashfast is going to *have* to do something to fix the situation with Batch 1 customers, if they know what's good for them.  

They haven't angered a crowd of acne-ridden 16 year olds with Asperger's, they've pissed off customers that include a number of capable and determined people.  The "BFL model" is not going to work for them. In this case, the ripped off seem likely to much more seriously fight back.  

No, they are not Canadian. The contract assembly house is in Montreal, though.

Know the address in Montreal?

[cedivad]

Know the address in Montreal?

They have nothing in canada. Don't waste your time.

[VolanicEruptor]

Know the address in Montreal?

They have nothing in canada. Don't waste your time.

do you work for them?

[paranoidx]

Aren't they based in Canada?  I live in Canada... maybe I should try to go after these assholes for false advertising.    

Nope.  Another American company (based in San Francisco).
Went with them instead of another KNC miner since they were local.  Bad Idea.

Now since units are in "mass production" my questions are:
1. When will the BJs start shipping?
2. When is Batch 2 shipping?
3. When is the MPP expected to start shipping?

Everything should be a lot faster now since they secured contracts with all these companies like CIARA right??.. right??

[cedivad]

Know the address in Montreal?

They have nothing in canada. Don't waste your time.

do you work for them?

No. They are out sourcing the assembly in canada. That's all. All what you will find is an outsurced assembly house. Do you really want to go there?

[ImI]

Well, now that it's pretty clear to a lot of people that October was a fraudulent claim, Hashfast is going to *have* to do something to fix the situation with Batch 1 customers, if they know what's good for them.  

Well thats exactly what they thought also, back in august. And they decided to setup the MPP for batch1 customer compensation.

So it all stands and falls more or less with the MPP and the handling of the MPP.

Given a MPP that stands up to the expectations a breakeven BTC-ROI is still possible.

[HashFast_CL]

Am I the only one to find this HF bragging about speed increase insulting to intelligence? @HF_CL: It is totally irrelevant if chip hashes at 300, 500 or 700 GHs. It will mine >50% of it's lifetime returns in the first 2 months or less of it's total mining life. The position of these 2 months on the timescale determine the total value of the product, so the only important thing for all of us about your product is it's shipping date. Correction: other important thing is shipping speed, since it can also mess with a few days of mining. Hashing speed is totally irrelevant, since 25% increase is worthless because it is negatively compensated at least that much when difficulty increases >25% every 11 days. I know there's no way you don't understand these simple facts, so yours "Wov, 550GHs!" makes me really offended. Do you really think you are dealing with idiots?

What i don't understand is the bragging while they only got 2 cores out of 4 to work. I know that it's easy to multiply by 2 the speed that you got with 2 cores and they may get that speed, but bragging without actually having a proof is just lame and sad.

Roadstress,

Per Eduardo, all 4 Golden Nonce "cores" (dies actually) are working to produce the announced 500GH/sec speed.   

Our next blog post will elaborate on the details.


itod,

The promised mining speed of 400GH is what HashFast's customers paid for.

Exceeding that advertised minimum by a whopping 100+ GH (25%) is highly relevant to their ROI, regardless of difficulty.

If we only shipped 300GH instead of 400GH, I'm sure HashFast customers would find that anything but "totally irrelevant."

CIARA has tremendous logistical experience which should benefit HashFast customers by reducing shipping times to the minimum possible.

http://www.ciaratech.com/product.php?id_prod=305&lang=en&id_cat1=5&id_cat2=39



CIARA ships daily in large volumes from our 14 loading docks.

We have the ability to ship via all transportation modes as we are located less than 2 miles from the FEDEX, UPS and DHL hubs as well as being less than 4 miles from Montreal International Airport. Having this proximity allows CIARA shorter transit times than most agents. CIARA offers flexible shipping hours spanning from early in the morning to midnight at month or quarter ends. Whether it is during the regular day, end of month, quarter, year or simply an urgent shipment CIARA will get your shipment out.

Export compliance management can be very confusing as it is constantly changing. Managing this for our customers is not a problem as it is a daily occurrence. Whether you are shipping domestically or internationally, CIARA has the logistical experts that can prepare your paperwork, guide your shipment while reducing your freight expense.

Of course the sooner we ship the better, and we anticipate meeting the Dec 31 deadline for Batch 1.

Best,

-HF_CL

[cedivad]

Exceeding that advertised minimum by a whopping 100+ GH (25%) is highly relevant to their ROI, regardless of difficulty.

BS and you know it.

[VolanicEruptor]

Exceeding that advertised minimum by a whopping 100+ GH (25%) is highly relevant to their ROI, regardless of difficulty.

BS and you know it.

WHAT DID YOU JUST SAY?

[RoadStress]

Am I the only one to find this HF bragging about speed increase insulting to intelligence? @HF_CL: It is totally irrelevant if chip hashes at 300, 500 or 700 GHs. It will mine >50% of it's lifetime returns in the first 2 months or less of it's total mining life. The position of these 2 months on the timescale determine the total value of the product, so the only important thing for all of us about your product is it's shipping date. Correction: other important thing is shipping speed, since it can also mess with a few days of mining. Hashing speed is totally irrelevant, since 25% increase is worthless because it is negatively compensated at least that much when difficulty increases >25% every 11 days. I know there's no way you don't understand these simple facts, so yours "Wov, 550GHs!" makes me really offended. Do you really think you are dealing with idiots?

What i don't understand is the bragging while they only got 2 cores out of 4 to work. I know that it's easy to multiply by 2 the speed that you got with 2 cores and they may get that speed, but bragging without actually having a proof is just lame and sad.

Roadstress,

Per Eduardo, all 4 Golden Nonce "cores" (dies actually) are working to produce the announced 500GH/sec speed.   

Our next blog post will elaborate on the details.


itod,

The promised mining speed of 400GH is what HashFast's customers paid for.

Exceeding that advertised minimum by a whopping 100+ GH (25%) is highly relevant to their ROI, regardless of difficulty.

If we only shipped 300GH instead of 400GH, I'm sure HashFast customers would find that anything but "totally irrelevant."

...

Of course the sooner we ship the better, and we anticipate meeting the Dec 31 deadline for Batch 1.

Best,

-HF_CL

I don't believe it until i see it.

[Jutarul]

Exceeding that advertised minimum by a whopping 100+ GH (25%) is highly relevant to their ROI, regardless of difficulty.

BS and you know it.

WHAT DID YOU JUST SAY?

If it weren't for the fact that people massively suffer from it I'd find such an ignorant statement highly amusing.

[HashFast_CL]

I don't believe it until i see it.

Fair enough!  I will lobby the execs to put the test bed on Eligus so all may watch the fun in real-time.

The coins should go to Sean's Outpost, right?

Also, I'm sure we'll have video up ASAP.  Because 'Toob or it didn't happen!

[PuertoLibre]

Exceeding that advertised minimum by a whopping 100+ GH (25%) is highly relevant to their ROI, regardless of difficulty.

BS and you know it.

That doesn't make any lick of sense.

If I sell you equipment that makes bitcoins using 500GH/s and offer to ship it (per our plan) in October if you pay a very high premium. Then fail to send it within that time frame....

What you get is a machine that produces less product (bitcoins) as the days roll forward. Every 11 days, the machine losses a percentage of it's productive capacity.

If in the time from October till December the machine lost -90% of it's productive capacity....then a representative being "happy" to announce a +25% increase in efficiency makes no literal sense.

Why would someone be happy about a meager increase in efficiency if by the time it ships it will be completely negated by rising difficulty when it gets into it's customers hands? The machine might not even pay itself off due to decreasing efficiency at producing bitcoins.

------------------------

Why is this lost on the HashFast Representative?

Do you guys understand why your customers are so upset?

Do you require a flow chart to make it all come into focus?

[ImI]

Exceeding that advertised minimum by a whopping 100+ GH (25%) is highly relevant to their ROI, regardless of difficulty.

BS and you know it.

That doesn't make any lick of sense.

If I sell you equipment that makes bitcoins using 500GH/s and offer to ship it (per our plan) in October if you pay a very high premium. Then fail to send it within that time frame....

What you get is a machine that produces less product (bitcoins) as the days roll forward. Every 11 days, the machine losses a percentage of it's productive capacity.

If in the time from October till December the machine lost -90% of it's productive capacity....then a representative being "happy" to announce a +25% increase in efficiency makes no literal sense.

Why would someone be happy about a meager increase in efficiency if by the time it ships it will be completely negated by rising difficulty when it gets into it's customers hands? The machine might not even pay itself off due to decreasing efficiency at producing bitcoins.

------------------------

Why is this lost on the HashFast Representative?

Do you guys understand why your customers are so upset?

Do you require a flow chart to make it come into focus?

He didnt say that customers are "happy", did he!?

He said its "highly relevant". And yes, to me as a customer it is "highy relevant". If you dont give a shit about 400 GH/s or 500 GH/s well than go ahead and point your 100 GH/s to my wallet. Thx!

[itod]

itod,

The promised mining speed of 400GH is what HashFast's customers paid for.

Exceeding that advertised minimum by a whopping 100+ GH (25%) is highly relevant to their ROI, regardless of difficulty.

If we only shipped 300GH instead of 400GH, I'm sure HashFast customers would find that anything but "totally irrelevant."

...

Best,

-HF_CL

I was positive you have figured out mining math, but now I'm not sure if this is not the case, or you are just pulling my leg. Let me ask you a question, please answer me this:
Do you think your customers would prefer
a) 300GHs on time (Oct 31st) or
b) 600GHs Dec 31st, two months late?

Which option, a) or b) would make them more money? Please think twice before answering this.

I still don't believe your answer will be wrong to this, you have to be pulling my leg with "GHs are important" nonsense.

Edit:
Let me change 400 to 300 under option a), so GHs unimportance would be more obvious.

[Gyrsur]

don't know how many chips they produced for batch 1 but what I would highly appreciate if they send out the upgrade kit with the batch 1 devices if possible (depends on the amount of chips). so then every batch 1 customer has 1TH/s from the beginning.  

[ImI]

don't know how many chips they produced for batch 1 but what I would appreciate if they send out the upgrade kit with the batch 1 devices if possible (depends on the amount of chips). so then every batch 1 customer has 1TH/s from the beginning.  

afaik the upgrade-kit was schedueled to arrive at december 1st. so the needed chips could meanwhile be there.

i'd like to hear an answer to this from hashfastCL