HashFast announces specs for new ASIC: 400GH/s

[amer]

Holy shit, HashFast_CL is finally doing his/her job and discussing their product. I'm speechless.

[1713880670]

1713880670

[1713880670]

1713880670

[1713880670]

1713880670

[1713880670]

1713880670

[1713880670]

1713880670

[Gyrsur]

If you ship in December - your customers will take a bath on this.
- We wont.  And we'll protect our customer's against hashrate increases.
Expect details on Monday

Thanks!

Eduardo deCastro
Founder and CEO,
HashFast Technologies

[perezoso]

When companies compete to offer better products and services to the public, it's a good thing and we all profit!  

Best,

-HF_CL

Keep digging, there, buddy.  

When companies swindle their customers with fraudulent statements about their products, it's a bad thing that's both unethical and legally actionable.

Mister Smiley Face, Inaba_HF, we all know that Hashfast can't just come out and say that it defrauded customers by repeatedly indicating a delivery date that it knew it could not meet, that would make Cedivad's lawyer's job too easy; but that simple fact is now apparent to all, and that is why we're expecting a more contrite attitude and, most importantly, actions by the company to rectify the damage incurred.

[Rampion]

you havent shipped anything yet, so stop talking like you have. Also, STOP bashing KNC, clearly you are trying to ride their coat tails.

   I never claimed to have shipped anything, where did you get that idea?  

HashFast does have a single chip running (underclocked) at 500GH, which is an impressive feat.

KnC shipped hardware, and we have benefited by learning from their mistakes.

It's not "bashing" to acknowledge their issues with PSUs, shipping/packaging, and drivers.

It's not "riding their coat tails" to explain the exact steps HashFast has taken to avoid the unfortunate problems experienced by KNC.

When companies compete to offer better products and services to the public, it's a good thing and we all profit!  

Best,

-HF_CL

You might have learnt from their mistakes, but you didn't learn from the one thing they did right: they shipped almost on time (I received my units on 3/4th October and the deadline was 31st September). That's the MOST important thing. Time is the essence in this business.

This is why you get angry replies: you seem to be bashing KnC and bragging on how superior you are, while you screwed up the shipping dates by 2 months - that's an EPIC fail and that is something you are supposed to control. No one blames you of difficulty growth, everybody blames you on being late 2 long months that make ROI impossible. Nobody would have bought your batch #1 units if they weren't expected for October.

[ASIC-K]

you havent shipped anything yet, so stop talking like you have. Also, STOP bashing KNC, clearly you are trying to ride their coat tails.

   I never claimed to have shipped anything, where did you get that idea?  

HashFast does have a single chip running (underclocked) at 500GH, which is an impressive feat.

KnC shipped hardware, and we have benefited by learning from their mistakes.

It's not "bashing" to acknowledge their issues with PSUs, shipping/packaging, and drivers.

It's not "riding their coat tails" to explain the exact steps HashFast has taken to avoid the unfortunate problems experienced by KNC.

When companies compete to offer better products and services to the public, it's a good thing and we all profit!  

Best,

-HF_CL

You might have learnt from their mistakes, but you didn't learn from the one thing they did right: they shipped almost on time (I received my units on 3/4th October and the deadline was 31st September). That's the MOST important thing. Time is the essence in this business.

This is why you get angry replies: you seem to be bashing KnC and bragging on how superior you are, while you screwed up the shipping dates by 2 months - that's an EPIC fail and that is something you are supposed to control. No one blames you of difficulty growth, everybody blames you on being late 2 long months that make ROI impossible. Nobody would have bought your batch #1 units if they weren't expected for October.

+1 million

[Flying Hellfish]

It's creepy how the last few pages of this thread make me feel like I'm reading all the BFL threads from early this year... Just fucking creepy.

[DPoS]

You might have learnt from their mistakes, but you didn't learn from the one thing they did right: they shipped almost on time (I received my units on 3/4th October and the deadline was 31st September). That's the MOST important thing. Time is the essence in this business.

This is why you get angry replies: you seem to be bashing KnC and bragging on how superior you are, while you screwed up the shipping dates by 2 months - that's an EPIC fail and that is something you are supposed to control. No one blames you of difficulty growth, everybody blames you on being late 2 long months that make ROI impossible. Nobody would have bought your batch #1 units if they weren't expected for October.

why are you flipping out??  anyone with a KNC miner should be sending Eduardio Christmas presents

[paranoidx]

Hashfast_CL

Your website said "ships October 20 -30".
Your TOS when I purchased said nothing about shipping by December 31st.

Stop pretending that you told us that the chips were gonna be delivered by December 31st because that is a lie.  Your website stated otherwise and you guys stated October as well.  It seems you got amnesia as soon as you changed your TOS, but the posts and evidenceare still out there.

You made an impressive chip it was just 2 months too late.

I understand you can't control the difficulty but you could have at least shipped close to the ship date you gave us.  You have royally fucked us and we demand compensation for your lies.

[Gyrsur]

I don't think this is correct. When I visited HF last week John specifically mentioned that refunds would be done in the currency it was paid in at the amount paid in at the time of the order. So if you paid 50 BTC you will get back 50 BTC.

Another topic was the possibility of refunds and John was pretty specific that if refunds do happen they will be full refunds in the currency the order was paid in (BTC in BTC, USD in USD).

LOL and you believe they will act as it was anounced just verbally to a third person? so if yes start to try it and the others will follow immediately.

I was there in a room with John, Amy and Erin. So yes, I do hope their word is worth something. Call me naive

that would mean they backed immediately every sale witch Bitcoin if the sale was a BTC sale. very unlikely!

were you alone in the room with them?

I agree, and I was surprised that John was so direct and clear about this issue.

I'm pretty sure I didn't misunderstand. This came up because I wanted to illustrate that a BJ paid for with 59 BTC (in my case) would only produce ~15 BTC in a year. But asking for a refund would also be a 50% reduction in BTC (now 66%) if HF would use USD for refunds. John said they would do full refunds for the amount paid in the currency it was paid in and that I could post this on the forum. So there you go.

And yes, it was just me and HF employees.

[jspielberg]

Hashfast_CL -

I think the current exchange rate is amplifying the problem with the "late" shipping.

If the machines were still valued at ~$6k, I think a bunch of us would be pissed, but many of us would just shrug it off.

Now when the value of the machine is essentially $60K... and it looks like under best case scenarios we might get the equivalent of only 1/2 that back... well... to say it stings a little is an understatement.  We didn't invest in Hashfast as a charity.  We expected that there was a real opportunity to invest with a good chance of making more than we put in.

I know the question as to whether you will be refunding in FIAT/BTC... or the currency used to purchase... is above your pay grade.  I also understand that you are moving heaven and earth to make sure you don't need to figure that out.

My advice?
1) Give up here.  This well is poisoned by the cardinal sin/belief that B1 will never earn close to our investment back.  Even Avalon, whom I think went from hero to zero in a matter of 2 months, manned up and fell on their sword and offered back original purchase refunds (all in BTC), when they were clearly delayed for their B3 miners.
2) Have a HF official provide meaningful technical information on progress no matter how small in the twitter stream.  4x a day would be considered minimum. For example, wall power still hasn't been published even if it is a tentative number.  If you want to be innovative about transparency... have them really post it as it happens.
3) Understand that many of the customer here have paid upwards of a luxury car on the product and it isn't over when you ship.  Have an HF official update the twitter stream on MPP status.
4) See point 1.

Good luck.  You have made an impressive technical achievement, but the time line expectations were just incompatible with the environment that is cut throat mining.

[Phinnaeus Gage]

It's creepy how the last few pages of this thread make me feel like I'm reading all the BFL threads from early this year... Just fucking creepy.

As far as I recall, I haven't penned a word about HashFast, but I'll tell you this. While at Inside Bitcoins, the general consensus I've overheard about HashFast is that they are not a company to consider when considering which outfit to purchase miners from. In fact, most pointed out this thread if one wanted a humorous read, of which now I can see why. The best and the worse I can say about HashFast at this penning.

~TMIBTCITW

[jspielberg]

The puddle of coolant in their trade show demo unit, and the unconcerned booth bots probably didn't help matters either regarding reputation.

Personally, I am still holding out hope for HF.  They seemed at the start to have the interest of the miner in mind, and with the MPP, seemed to skew the incentives toward as timely a delivery as possible. Turns out the "earliest possible" delivery time wasn't actually possible.

At this point I just want the waiting to end... first for the initial order... then for the MPP... (100% ROI via btc refund would be fine too).

[DPoS]

Since they keep saying they have learned from BFL & KNC you can probably expect them to just give refunds to the batch 1's and spare rushing out a product that will just be full of customer service issues and RMAs

Time to go make some bitbets

[kaerf]

If you ship in December - your customers will take a bath on this.
- We wont.  And we'll protect our customer's against hashrate increases.
Expect details on Monday

Thanks!

Eduardo deCastro
Founder and CEO,
HashFast Technologies

Instead of congratulating themselves on the 25% hashing power increase, HF should be apologizing profusely and saying they know the 25% is little consolation to their early investors, but hope it will at least reduce the pain.

HF_CL, you do know your company fucked up, right? +25% only means you're fucking up less. Stop trying to justify failures...lay down, take the warranted criticism, put your nose to the grindstone and deliver. Stop "bragging" -- put up or shut up. You're getting all this flack right now because you've inappropriately "celebrated" your 500GH/s achievement and are talking about how much better your undelivered (and late) product will be compared to competitors.

[1l1l11ll1l]

eh, you are no KNC.....

   That's true...

HashFast's chips are about 3 times more powerful when compared on a GH per sq.mm basis.

HashFast is shipping with top-shelf quality Sea Sonic PSUs, so our customers won't have to put up with exploding/self-immolating units like KNC's did.

In addition, HashFast lined up an exclusive with CIARA, which means HashFast machines will be assembled and shipped with utmost expediency (no random guys helping load some random van), in professional/durable packaging.

That means double-walled boxes, so HashFast customers' hardware won't arrive broken like so much of KNC's did.

Finally, (again unlike KNC) HashFast has been working closely with ckolivas for a long time to ensure cgminer works flawlessly with our innovative new GN Protocol, Global Work Queue, etc.

cough cough...

[PuertoLibre]

^^exactly my thoughts too! like BFL josh!

Hashfast has gone full Inaba?

Preposterous....

[PuertoLibre]

Okay, maybe they did go full Inaba....



All I do hope is that they become a new technology supplier of future Hashing hardware...if they survive their first batch. We can only hope.

[defcon23]

HashFast's chips are about 3 times more powerful when compared on a GH per sq.mm basis.

HashFast is shipping with top-shelf quality Sea Sonic PSUs, so our customers won't have to put up with exploding/self-immolating units like KNC's did.

In addition, HashFast lined up an exclusive with CIARA, which means HashFast machines will be assembled and shipped with utmost expediency (no random guys helping load some random van), in professional/durable packaging.

That means double-walled boxes, so HashFast customers' hardware won't arrive broken like so much of KNC's did.

Finally, (again unlike KNC) HashFast has been working closely with ckolivas for a long time to ensure cgminer works flawlessly with our innovative new GN Protocol, Global Work Queue, etc.

After 70 days mining every one of my batch #1 Jupiters have mined aprox. 50 BTC each - let's see how many BTC will your batch #1 units mine in their first 70 days of life.

That (BTC MINED/DAY) is the only thing that matters right now. Power costs are so ridiculously marginal at this stage that bragging about efficiency is just ludicrous.

I'm glad you are satisfied with your past ROI, but don't see the use or validity of comparing it to future returns.

In fact, the hash power which earned you that nice ROI in the past is exactly why future ROIs will be lower!

You could go all the way back to Gen One Avalons if you really want to highlight the past vs future contrast.

HashFast cannot control difficulty, nor make investment/speculation/gambling decisions for its customers.

We can however learn from KNC and others' mistakes, and control our choices of flawless cgminer support, high-quality Sea Sonic PSUs, world-class CIARA assembly, and professional logistics which includes packaging adequate to prevent damage in shipping.

Judging by the uproar in the KnC thread(s) over these issues, they do matter to many customers.

Best,

-HF_CL

knc dont made mistake , they just deliver when they promised to deliver... shame on you Hashfast

[SolarSilver]

Why is this lost on the HashFast Representative?

Because from this post: https://bitcointalk.org/index.php?topic=270384.msg3956671#msg3956671 you can clearly see that he/she is not the sharpest tool in the shed:

As a Batch One customer, I fully understand the anxiety and frustration of watching my BTC ROI dwindle as difficulty rises.

Of course ROI in fiat is an entirely different story and a source of much consolation.

Is the printer already fixed? (scroll back to see that gem)

[SolarSilver]

In addition, HashFast lined up an exclusive with CIARA, which means HashFast machines will be assembled and shipped with utmost expediency (no random guys helping load some random van), in professional/durable packaging.

That means double-walled boxes, so HashFast customers' hardware won't arrive broken like so much of KNC's did.

So you are not going to have water cooling liquid leaking from boxes when they arrive after UPS abuses the boxes, just like the demo unit at the Vegas show, that could not even survive a simple plane trip?

Finally, (again unlike KNC) HashFast has been working closely with ckolivas for a long time to ensure cgminer works flawlessly with our innovative new GN Protocol, Global Work Queue, etc.

Here you are right, the handling of the software support by working with the cgminer developers is a good thing. At least something to credit HF for.