HashFast announces specs for new ASIC: 400GH/s

[cedivad]

Jesus Christ, I thought I made it more than ludicrous enough that no one would believe it, especially since it's just a copy and paste of the last update. I guess I should have added a line or two about the new Dyson Sphere that's going to power the Sierra arriving for testing.

+1

All the people that believed you discouraged me on our average qi.

[Bargraphics]

Unfortunately it looks like HashFast is going to try to do everything in its power to avoid having to refund Batch 1 by shipping at the last possible moment before their "Deadline".

They should just issue Batch 1 refunds, ship batch 2. Give Batch 1 coupons to use to try and get "in line" again for whatever batch they are on (Even though I doubt people would even do that considering the types of individuals they have employed/defend on this forum).

Sadly the above is how businesses should be ran and instead they are ran with the full knowledge that only a handful of people will end up taking them to court and at the point they will just pay them off and have made a hefty profit.

HashFast initially seemed like a great company that was going to show the bitcoin space how businesses should operate, but it looks like that won't be the case.

[thoughtcourier]

Unfortunately it looks like HashFast is going to try to do everything in its power to avoid having to refund Batch 1 by shipping at the last possible moment before their "Deadline".

They should just issue Batch 1 refunds, ship batch 2. Give Batch 1 coupons to use to try and get "in line" again for whatever batch they are on (Even though I doubt people would even do that considering the types of individuals they have employed/defend on this forum).

Sadly the above is how businesses should be ran and instead they are ran with the full knowledge that only a handful of people will end up taking them to court and at the point they will just pay them off and have made a hefty profit.

HashFast initially seemed like a great company that was going to show the bitcoin space how businesses should operate, but it looks like that won't be the case.

+1, or really any alternative to skirting legality.

[allinvain]

I'd take a refund and the opportunity to "wait in line" again as I'd much rather pay 10 btc per unit than 50 btc which is likely to never be mined by these batch1 units. However this scenario is out there in fantasy land and there is no way they'd go for it. It's looking like they are just going to wait until the very last moment, ship the units a day before dec 31'st or precisely on dec 31'st and claim that this constitutes meeting their deadline - nevermind the fact that customers will have their units in hand only 3 to 4 days (if not longer) AFTER 31'st.

edit: corrected wrong date

[cedivad]

nevermind the fact that customers will have their units in hand only 3 to 4 days (if not longer) AFTER 31'st.

And since that it's not delivery, we will easily win our case. I should hear back from the lawyer today...

[bobsag3]

That post aught to be deleted. People keep believing it.

I reported that post for trolling and disinformation.  It's especially cruel to new members and non-native English speakers.

But Gmaxwell choose to further confuse HashFast customers, in order to punish HashFast.

Time for a new, less-petty, more even-handed Hardware Mod willing to objectively enforce (and follow) the rules set forth here:

https://bitcointalk.org/index.php?topic=139380.0

Here are some points on this subforum's ground rules— some of them are just reptition of the overall forum standards. Most of this should go without saying, but it seems a few people need some reminders.

Stay on-topic.

All threads created should be about custom mining hardware, its operation, or its production (including the companies making it or the technology involved).  Generally the subject matter should be boring— technical, procedural, dry things. We're talking about custom hardware for mining here, not civil rights or awesome rock concerts.

Within a thread all messages should pertain to the subject of the thread which is described in the thread title or original post.  Avoid tangents and especially avoid responding to tangents.  Off-topic posts may be spindled, folded, or mutilated at the moderators discretion.  Posts by an equipment manufacturer or their staff in a thread about that manufacturer are automatically on-topic regardless of their content. (If they want to make a fool of themselves thats something everyone would find interesting)

Posts should generally not make people angry. If you expect that your post will make people angry that is a sign that it may be in the wrong sub-forum. However, in some rare cases factual material about custom hardware or its vendors will make people angry. In these cases it is all the more important to be dry, factual, and to avoid speculation.

In all cases, do no harass or stalk people. Keep your behavior civil and professional.  Harassment will be ruthlessly deleted or edited until it is a mockery of the poster (in all cases edited posts will be marked accordingly). If you are in doubt about a behavior it is probably harassment. Don't do it. If you feel you need to investigate a party that has scammed you, take it to the scam accusation sub-forum.  Be the better man: Just because someone is a jerk that doesn't justify you becoming one.

Feel free to provide criticism but don't belabor it. Making the same point over and over again is spam. Making multiple threads about the same subject is spam. Spam will be ruthlessly deleted or edited until it is a mockery of the poster.  If you think important criticism is at risk of getting missed cooperate with other posters and write up a even handed summary of the issues.  Pointers to well written third party summaries may be stickied, if their material is reasonable and of general interest to custom hardware participants.

To avoid wasting people's time avoid bumping threads with pointless +1s, meme images, or "inb4" messages. Silence is golden. If you don't have something substantive to say, please say nothing at all. If you're not sure what the topic of a thread is either don't post in it or only post to ask for clarification.

Coming from you and your company, this is sad. You basically mad that people are mad at you for being late and lying, and you want to enforce the rules.... now? sad sad sad.

[de_ixie]

Jesus Christ, I thought I made it more than ludicrous enough that no one would believe it, especially since it's just a copy and paste of the last update.

Well, I almost spilled my morning coffee over the keyboard after reading your news update - epic.

For all the poor Hashfast souls - I am not involved - but if this would be an european or specifically german company I would obliterate them in front of a court. One sided ToS change - this is laughable - they have no chance. Thus said, I have no clue about the legal system in NA. Good luck @all.

[allinvain]

Bitcoin asic companies should learn a lesson from the likes of Bitmain. Fund your chip development with your own money, and take order only when you have hardware ready to ship! Anything else is just getting a free loan from customers with little to no payback for the lender (ie your "customer" - I use that term in quotes as sucker is a more suitable word).

@de_ixie: The legal system in USA works on the principle of he who has the most money wins.

[ASIC-K]

hashfast is literally the worst. i hope you get sued so badly you lose your homes.

[Phinnaeus Gage]

That post aught to be deleted. People keep believing it.

I reported that post for trolling and disinformation.  It's especially cruel to new members and non-native English speakers.

But Gmaxwell choose to further confuse HashFast customers, in order to punish HashFast.

Time for a new, less-petty, more even-handed Hardware Mod willing to objectively enforce (and follow) the rules set forth here:

https://bitcointalk.org/index.php?topic=139380.0

Here are some points on this subforum's ground rules— some of them are just reptition of the overall forum standards. Most of this should go without saying, but it seems a few people need some reminders.

Stay on-topic.

All threads created should be about custom mining hardware, its operation, or its production (including the companies making it or the technology involved).  Generally the subject matter should be boring— technical, procedural, dry things. We're talking about custom hardware for mining here, not civil rights or awesome rock concerts.

Within a thread all messages should pertain to the subject of the thread which is described in the thread title or original post.  Avoid tangents and especially avoid responding to tangents.  Off-topic posts may be spindled, folded, or mutilated at the moderators discretion.  Posts by an equipment manufacturer or their staff in a thread about that manufacturer are automatically on-topic regardless of their content. (If they want to make a fool of themselves thats something everyone would find interesting)

Posts should generally not make people angry. If you expect that your post will make people angry that is a sign that it may be in the wrong sub-forum. However, in some rare cases factual material about custom hardware or its vendors will make people angry. In these cases it is all the more important to be dry, factual, and to avoid speculation.

In all cases, do no harass or stalk people. Keep your behavior civil and professional.  Harassment will be ruthlessly deleted or edited until it is a mockery of the poster (in all cases edited posts will be marked accordingly). If you are in doubt about a behavior it is probably harassment. Don't do it. If you feel you need to investigate a party that has scammed you, take it to the scam accusation sub-forum.  Be the better man: Just because someone is a jerk that doesn't justify you becoming one.

Feel free to provide criticism but don't belabor it. Making the same point over and over again is spam. Making multiple threads about the same subject is spam. Spam will be ruthlessly deleted or edited until it is a mockery of the poster.  If you think important criticism is at risk of getting missed cooperate with other posters and write up a even handed summary of the issues.  Pointers to well written third party summaries may be stickied, if their material is reasonable and of general interest to custom hardware participants.

To avoid wasting people's time avoid bumping threads with pointless +1s, meme images, or "inb4" messages. Silence is golden. If you don't have something substantive to say, please say nothing at all. If you're not sure what the topic of a thread is either don't post in it or only post to ask for clarification.

Coming from you and your company, this is sad. You basically mad that people are mad at you for being late and lying, and you want to enforce the rules.... now? sad sad sad.

bobsag, I was going to report your post for the following reason: Posts should generally not make people angry. But, I realized 'generally' does not equal 'specifically'.  

[ASIC-K]

hahahaha

[bobsag3]

@ PG - I couldn't resist it. Usually im against the pitchfork mentality... But I have several customers that have been screwed by this, so I feel their plight.

[VolanicEruptor]

hashfast is literally the worst. i hope you get sued so badly you lose your homes.

Oh he will.  And so will some other scammers.  Guaranteed.

[jerseyjon]

I am not sure if they changed this term, but several versions of the Terms including mine refer to EXWORKS - in other words, their definition of delivery is leaving their premises, then it is over to the buyer.
So all this talk about Christmas delivery and couriers to various countries is irrelevant - they can ship your unit late on the 31st and not breach their refund terms (unless that delivery definition was not in the first / early versions)
Hope I am wrong, because if I am right, we have just lost another 30% by the time they get delivered to our doors.

[Xian01]

Posts should generally not make people angry. But, I realized 'generally' does not equal 'specifically'.  

 Specifically, how is it that a certain, favorite person of ours continually gets away with his offenses and bad behavior ?

 Oh that's right... They contribute significant sums of advertising money to these forums, with staff giving them effective carte-blanche on bad behavior...

[bitcoinermax]

nevermind the fact that customers will have their units in hand only 3 to 4 days (if not longer) AFTER 31'st.

And since that it's not delivery, we will easily win our case. I should hear back from the lawyer today...

Cedivad - how much time and money do you have to waste on this? as you had better tell your lawyer you are trying to sue a start up that has spent all its money on NRE etc. Unless the lawyer is there to simply take your cash off you, any half sensible lawyer will tell you that you are wasting your time and money. Seriously how old are you and what do you know about either the legal process or the bankruptcy process? If you don't know squat, you had better start learning. Do your research 1st or the next thing you will be doing is whining about your lawyers taking your money and not being able to deliver your BTCs back from HF or his fees

I also think HF's communication is sorely lacking but I am really hard pressed to see how suing a co with no funds is going to help anyone at all

[ASIC-K]

nevermind the fact that customers will have their units in hand only 3 to 4 days (if not longer) AFTER 31'st.

And since that it's not delivery, we will easily win our case. I should hear back from the lawyer today...

Cedivad - how much time and money do you have to waste on this? as you had better tell your lawyer you are trying to sue a start up that has spent all its money on NRE etc. Unless the lawyer is there to simply take your cash off you, any half sensible lawyer will tell you that you are wasting your time and money. Seriously how old are you and what do you know about either the legal process or the bankruptcy process? If you don't know squat, you had better start learning. Do your research 1st or the next thing you will be doing is whining about your lawyers taking your money and not being able to deliver your BTCs back from HF or his fees

There is no doubt HF's communication has been sorely lacking but I am really hard pressed to see how suing a co with no funds is going to help anyone at all

so what you are saying is dont bother? just let hashfast do what they want? you are so weak.

[bitcoinermax]

so what you are saying is dont bother? just let hashfast do what they want? you are so weak.
[/quote]

Not a question of weak or strong, but what is the point if nothing can come of it? Suing can take years and years and the only point of doing it is if the other side can pay in the end. If they can't, then why double down on your original loss?

[cedivad]

so what you are saying is dont bother? just let hashfast do what they want? you are so weak.

I wanted to create a graph with a log function drawing in one axis the activity of the user (< 20 in the case of those sockpuppets) and in the other their position pro/against my will to sue HF. However i won't lose time that way, i don't think it to be necessary to explain what HF is doing here.

Dear HF, i'm fortunately free to spend my money the way i want. Fortunately i didn't lost everything with you, only the majority of my BTC stake. (and since that john asked and i answered about what i do for a living, you should be even more worried).

[perezoso]

Cedivad - how much time and money do you have to waste on this? as you had better tell your lawyer you are trying to sue a start up that has spent all its money on NRE etc. Unless the lawyer is there to simply take your cash off you, any half sensible lawyer will tell you that you are wasting your time and money. Seriously how old are you and what do you know about either the legal process or the bankruptcy process? If you don't know squat, you had better start learning. Do your research 1st or the next thing you will be doing is whining about your lawyers taking your money and not being able to deliver your BTCs back from HF or his fees

I also think HF's communication is sorely lacking but I am really hard pressed to see how suing a co with no funds is going to help anyone at all

I don't want to bring Hashfast down either, but I think suing them is a legitimate option.  HF raised money from investors (not from sales) for the startup costs, IIRC to the tune of around USD 600-700k (check me on that).  Now surely they have dipped significantly into the sales money, but they have also sold four batches of machines.  I'm pretty sure Hashfast does have some significant money and that it does have some other potentially valuable assets (IP).

IMHO, the obvious path of least resistance for Hashfast, and the option that costs least, is to massively up the MPP - deliver more hashpower faster to MPP customers.  Yes, that would piss some non-MPP customers off, probably, but on balance, considering the lawsuit risks and reputation destruction potential of failure to deliver (which is obviously already beginning to harm them) ...

The two problems I see with, say, HF doubling the MPP hashpower and committing to an earlier miniboard delivery date are:

1) Lack of demonstration that the equipment reliably works, and;

2) Hashfast's general credibility is so bad at this point that a lot of people with orders may choose to simply not believe them and sue anyway.

I am Ice_CL.  Hashfast Ministry of Information.  I take questions now.