HashFast announces specs for new ASIC: 400GH/s

[derekleong75]

To stop the "lawsuit", all they have to do is pay off the litigious complainers with extra hashpower, shower them with BJ's and the pain will go away and no-one will be the wiser.

"Shower them with BJs"

This, is the best laugh Ive had today...

[1714040416]

1714040416

[aerobatic]

The problem with "give more hashpower" is that its expensive and doesn't assure the company that the risk of lawsuits will go away.

A better path would be to offer the a choice of a full 1:1 refund in BTC as if the sale had never been made or enough additional hashpower that most customers would choose the latter.

The problem is that the 1:1 refund at this point would be a hard deal to match and I suspect that many people now believe the original October claims were flat out dishonest, making promises of further hash-power later unattractive.

This is what I was referring to earlier on the thread about there being potentially no clean solution. A half measure doesn't remove hashfast's legal exposure, and a full measure may not be within their ability to afford.

giving more hash power is less expensive than giving people refunds... especially if they have to refund in btc (which i can't see how they can afford to do, even if they promised it)

hash power only costs them 'cost price', whereas its value to customers is at 'retail price'... thus giving extra hash power is a valuable way for them to compensate people that costs less than its worth.

[gmaxwell]

giving more hash power is less expensive than giving people refunds... especially if they have to refund in btc (which i can't see how they can afford to do, even if they promised it)

hash power only costs them 'cost price', whereas its value to customers is at 'retail price'... thus giving extra hash power is a valuable way for them to compensate people that costs less than its worth.

Absolutely. The problem is that "give more hashpower" alone doesn't eliminate the potential lawsuits. "Your choice of refund or more hashpower" probably would, but I would worry that there is enough distrust now that people wouldn't take the hashpower even if it was the better deal in terms of the numbers.

[dropt]

I believe that HashFast was flat out dishonest in their Oct delivery.  It was all marketing and a lot of hype.

I concur.  I believe that they either knew without a doubt that the October date was unachievable, or that they knew long before they ever mentioned a delay.  In fact there was an article with one of HF's execs where the exec noted that they were not receiving chips until November.  IIRC the article was written/posted sometime mid September.

[itod]

giving more hash power is less expensive than giving people refunds... especially if they have to refund in btc (which i can't see how they can afford to do, even if they promised it)

You've miscalculated something, I think it is just the opposite. The refunds are the cheapest option for HF for two reasons: If they refund the BJ they can resell that miner again, and also they don't have to give the MPP to the buyer and can also resell that MPP. Refund once, sell five times. Especially if they can refund BTC partially, not the full BTC amount which they obviously plan to do. I do believe they will not ship on purpose to provoke the refunds and then sell the "miners-in-hand" which will sell like pop-corns.

[Syke]

One more day gone. The wall is getting full.

[defcon23]

The problem with "give more hashpower" is that its expensive and doesn't assure the company that the risk of lawsuits will go away.

A better path would be to offer the a choice of a full 1:1 refund in BTC as if the sale had never been made or enough additional hashpower that most customers would choose the latter.

The problem is that the 1:1 refund at this point would be a hard deal to match and I suspect that many people now believe the original October claims were flat out dishonest, making promises of further hash-power later unattractive.

This is what I was referring to earlier on the thread about there being potentially no clean solution. A half measure doesn't remove hashfast's legal exposure, and a full measure may not be within their ability to afford.

+1

[DPoS]

giving more hash power is less expensive than giving people refunds... especially if they have to refund in btc (which i can't see how they can afford to do, even if they promised it)

You've miscalculated something, I think it is just the opposite. The refunds are the cheapest option for HF for two reasons: If they refund the BJ they can resell that miner again, and also they don't have to give the MPP to the buyer and can also resell that MPP. Refund once, sell five times. Especially if they can refund BTC partially, not the full BTC amount which they obviously plan to do. I do believe they will not ship on purpose to provoke the refunds and then sell the "miners-in-hand" which will sell like pop-corns.

it's been the logical move for a while now...  hate to say it, but the miners were priced in $$$ right?  Only when things are priced in BTC can you demand full BTC back on refund (like Avalon chip buys)

It is converted to $$ at time of sale so it is cashed out at time of purchase.  They could send back BTC but at the $$ value. 


It's not like they have any goodwill to salvage with early customers anyway.

[bitcoinermax]

giving more hash power is less expensive than giving people refunds... especially if they have to refund in btc (which i can't see how they can afford to do, even if they promised it)

You've miscalculated something, I think it is just the opposite. The refunds are the cheapest option for HF for two reasons: If they refund the BJ they can resell that miner again, and also they don't have to give the MPP to the buyer and can also resell that MPP. Refund once, sell five times. Especially if they can refund BTC partially, not the full BTC amount which they obviously plan to do. I do believe they will not ship on purpose to provoke the refunds and then sell the "miners-in-hand" which will sell like pop-corns.

If only HF planned quite that well! As if they did, they would have delivered ages ago... Frankly I don't think they are close to being that organized or financially savvy or they wouldn't be in the situation they are in now!

[Biffa]

To stop the "lawsuit", all they have to do is pay off the litigious complainers with extra hashpower, shower them with BJ's and the pain will go away and no-one will be the wiser.

"Shower them with BJs"

This, is the best laugh Ive had today...

at least someone got it

[itod]

giving more hash power is less expensive than giving people refunds... especially if they have to refund in btc (which i can't see how they can afford to do, even if they promised it)

You've miscalculated something, I think it is just the opposite. The refunds are the cheapest option for HF for two reasons: If they refund the BJ they can resell that miner again, and also they don't have to give the MPP to the buyer and can also resell that MPP. Refund once, sell five times. Especially if they can refund BTC partially, not the full BTC amount which they obviously plan to do. I do believe they will not ship on purpose to provoke the refunds and then sell the "miners-in-hand" which will sell like pop-corns.

If only HF planned quite that well! As if they did, they would have delivered ages ago... Frankly I don't think they are close to being that organized or financially savvy or they wouldn't be in the situation they are in now!

They are not highly organized, they are just scammers. I mean isn't it obvious they never, ever meant to deliver in October? What other proof you need to accept the fact scam is their modus operandi?

[Biffa]

The problem with "give more hashpower" is that its expensive and doesn't assure the company that the risk of lawsuits will go away.

A better path would be to offer the a choice of a full 1:1 refund in BTC as if the sale had never been made or enough additional hashpower that most customers would choose the latter.

The problem is that the 1:1 refund at this point would be a hard deal to match and I suspect that many people now believe the original October claims were flat out dishonest, making promises of further hash-power later unattractive.

This is what I was referring to earlier on the thread about there being potentially no clean solution. A half measure doesn't remove hashfast's legal exposure, and a full measure may not be within their ability to afford.

giving more hash power is less expensive than giving people refunds... especially if they have to refund in btc (which i can't see how they can afford to do, even if they promised it)

hash power only costs them 'cost price', whereas its value to customers is at 'retail price'... thus giving extra hash power is a valuable way for them to compensate people that costs less than its worth.

tada! thank you. Giving more hash power is an easy win, they don't even have to make more chips to do it just allocate it out of their existing personal stash or just make some other poor sucker wait for their BJ (see what I did there?)

[defcon23]

giving more hash power is less expensive than giving people refunds... especially if they have to refund in btc (which i can't see how they can afford to do, even if they promised it)

You've miscalculated something, I think it is just the opposite. The refunds are the cheapest option for HF for two reasons: If they refund the BJ they can resell that miner again, and also they don't have to give the MPP to the buyer and can also resell that MPP. Refund once, sell five times. Especially if they can refund BTC partially, not the full BTC amount which they obviously plan to do. I do believe they will not ship on purpose to provoke the refunds and then sell the "miners-in-hand" which will sell like pop-corns.

If only HF planned quite that well! As if they did, they would have delivered ages ago... Frankly I don't think they are close to being that organized or financially savvy or they wouldn't be in the situation they are in now!

They are not highly organized, they are just scammers. I mean isn't it obvious they never, ever meant to deliver in October? What other proof you need to accept the fact scam is their modus operandi?

yup ! they are just scammers. their "last saturday shipping" and of course their insulting silence is an another proof of that.

[Witness]

Baby jet will be worth In dust when it gets delivered
So MPP is hashfast's trade mark. Protection against what?  Ohhhh ok against hashfast, it all makes sense

[allinvain]

Pfff...MPP isn't going to make one damn difference. Now KNC is selling another batch of Neptunes  so our BJs don't stand a chance against the coming difficulty storm. *Sigh* maybe someday miners will realize that the only people getting rich are the hardware companies, not them. So keep on pumping money into their pockets folks. With HashFast it seems we totally pissed our money away.

[defcon23]

what an incredible lack of communication, for the "great" company they claim to be ...   a great shot ads crisp on twitter ... the funniest  is the pseudo credibility  they try to regain with some shitty pictures they posted on a certain pool, few days ago... LOL


look at this smile .....

[smoothie]

Glad I never ordered from hash fast. I even had everything in the cart back in august.

Dodged a bullet right there...whew...

[aneutronic]

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.

HashFast_CL, people wouldn't have to waste time messing around with jokes if you would actually give productive updates on where shipping is at and when you plan to start moving out the units. I'd also like to know who you are and what your relationship is to HashFast. I can't help but feel that we've been thrown another random poster like cypherdoc who supposes to speak for HashFast but when push comes to shove does not actually represent them and can't speak for them.
Are you directly employed by HashFast and do you have the authorization to speak for them as their agent?

"Dyson Sphere powered Sierra"    

I started as a contractor and from today go full time to assist with technical support.

Wow, what great news! I'm so relieved knowing that when/if I receive my VaporJet and it starts leaking water all over that I can dial 1-800-EAT-SHIT and have stellar tech support from this fountain of knowledge.
Get that printer working yet?       

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)

I can only relay what I hear/am authorized to and so can't speak for customer service with regard to refund type stuff.

The "CL" stands for community liaison Clue Less; my role is to facilitate obfuscate  communication between the community and the company.

I don't EVER have any new information about shipping dates, but am as eager as everyone else to start hashing!

Best,

-HF_CL

FTFY

Best,

-aneutronic

[Searing]

Glad I never ordered from hash fast. I even had everything in the cart back in august.

Dodged a bullet right there...whew...

ditto ...(was saved by my reaming of BFL (shudder) only reason ordered from knc is they took paypal via cc...now they don't ...but then again now they've proved self so not such a
big deal to me)

also as a side note people say "don't you wish you would have found out about bitcoin earlier then april 2013...?" I reply it would not have mattered at that point unless you wanted Avalon you'd have probably gotten caught in the 'BFL Scam" anyway ...so kinda a moot point......

anyway fear and loathing of BFL managed to save me from you guys fate...sorry wish you luck been there (down 8k on bfl forced upgrade to 900gh of monarchs.....they will be bricks too....by the time I get them I have no doubt)

Searing

[Phinnaeus Gage]

Continental Grain: We're selling corn!  Minimum purchase $1 million dollars. 

Potential Buyer:  Great; I need corn.  How much per bushel?

Continental Grain:  And the first three customers at that level win an all expenses paid trip to Peoria IL to visit their corn and the cows who eat the same corn in the feed lot in the next town over.

Potential Buyer:  So delivery is immediate?  And what's that price per bushel, again?

Continental Grain:  And if you order in the next 10 minutes, you'll also receive this set of steak knives to eat the cow that eats the corn in the next town over.


This. is. fucking. nuts.  I got a bad feelin' about this...

Caution! This thread is nuts.