HashFast announces specs for new ASIC: 400GH/s

[cedivad]

I think that they already said enough, the BJ works, it's up to the specs, and it will be shipped during the next 5 days.

[1714034747]

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[Searing]

^^ It is really extremely odd that they haven't posted anything to stop/prevent this kind of crazy speculation. Of course they can't just disappear. They are a US company, their identities are known, people have met them etc And if they had simply been planning to run away with people's money, I am sure there would have been better ways to do so - not spend millions of $'s paying TSMC, Uniquify etc for one.

But as it must be clear to everyone by now that they have run into some problems/bottlenecks, why not simply say so? I am sure people would prefer to know than to be kept in the dark. The lack of communication is only making things worse and I don't think people's reactions will be any worse if they knew.

but then again being a us company they can declare bankruptcy....and keep personal assets..ie miners for say another corp that they plan to cloudhost with..that is my theory of on what BFL is doing...get the monarch 1st run cards out for their gh hosting farm (under personal assets diff corp) and then bankrupt the company that makes the stuff (ie imho no one is gonna buy from BFL in the future imho anyway with their record)...it offers scum bags like bfl a way out...also in usa definition of shipped ..the regulators don't care if it takes 1 year as long as they ship something....all efforts to get redress or criminal actions have failed..... bfl a usa company have failed as a result (regulators hey you got your stuff in 9 months they are legit but late go away). this is better business bureau...federal trade commission (which punted it to the local county attorney..which likely is not gonna go against a company making millions for their county and of course small claim court actions which BFL has managed to ignore....or flaunt....not to mention the inability of anyone to get a class action lawsuit (again you got your stuff late it may be go away)....

so yeah not saying that it is true in this case...but it can be done BFL has done it and gotten away with it...will likely get away with their cloud hosting farm with the $$$ they should have spent on production...so no slam against the guys here making stuff...but just pointing out BFL got away with all of the stuff people here fear (as a BFL refugee the lack of info from them is the most daunting aspect of all this imho) so it is possible that it can be done again under current laws and lack of enforcement by usa officials...

[iikun]

^^ It is really extremely odd that they haven't posted anything to stop/prevent this kind of crazy speculation. Of course they can't just disappear. They are a US company, their identities are known, people have met them etc And if they had simply been planning to run away with people's money, I am sure there would have been better ways to do so - not spend millions of $'s paying TSMC, Uniquify etc for one.

But as it must be clear to everyone by now that they have run into some problems/bottlenecks, why not simply say so? I am sure people would prefer to know than to be kept in the dark. The lack of communication is only making things worse and I don't think people's reactions will be any worse if they knew.

but then again being a us company they can declare bankruptcy....and keep personal assets..ie miners for say another corp that they plan to cloudhost with..that is my theory of on what BFL is doing...get the monarch 1st run cards out for their gh hosting farm (under personal assets diff corp) and then bankrupt the company that makes the stuff (ie imho no one is gonna buy from BFL in the future imho anyway with their record)...it offers scum bags like bfl a way out...also in usa definition of shipped ..the regulators don't care if it takes 1 year as long as they ship something....all efforts to get redress or criminal actions have failed..... bfl a usa company have failed as a result (regulators hey you got your stuff in 9 months they are legit but late go away). this is better business bureau...federal trade commission (which punted it to the local county attorney..which likely is not gonna go against a company making millions for their county and of course small claim court actions which BFL has managed to ignore....or flaunt....not to mention the inability of anyone to get a class action lawsuit (again you got your stuff late it may be go away)....

so yeah not saying that it is true in this case...but it can be done BFL has done it and gotten away with it...will likely get away with their cloud hosting farm with the $$$ they should have spent on production...so no slam against the guys here making stuff...but just pointing out BFL got away with all of the stuff people here fear (as a BFL refugee the lack of info from them is the most daunting aspect of all this imho) so it is possible that it can be done again under current laws and lack of enforcement by usa officials...

If the USA is like other countries they will have to prove that they paid fair price for those miners in order to be protected & keep them. Additionally, courts would likely take a dim view of them being first in line rather than independent customers. I believe that most courts would probably instruct the miners to be redistributed to real customers.

and Re: the class action lawsuit, isn't that more a case of most customers simply being all talk no action?  Not that I've purposely looked or anything, but I'm not aware of anyone who seriously tried and failed on that front.

[ninjarobot]

HashFast's continued silence after missing their Saturday shipping deadline indicates they have at least one skeleton in the closet.

HF really needs to start communicating with their customers NOW.

Here is what I'd like to see:

* Full Final HW Specs.
* Clear Shipping dates.
* Clarity on refunds for Batch 1 customers.
* Clarity on MPP

[cedivad]

It was UPS, but from recent news it looks like that they will be using Fedex. (and by delivery i'm afraid that the EXWORK thing on the TOS allows them to deliver to Fedex by the 31th).

@ninjarobot, they are closing every stream of information because it's their biggest strength. Keeping you at the dark allows them to have more margin of movement and not saying other lies publicly will just help them (just let gateway/hf_cl do the dirty job for you).

I just hope that you will testify what john told you when you went to visit them if we arrive to that point...

[jspielberg]

Does anyone have a twitter account to post on their twitter stream?

[cedivad]

Sure, just tell me what...

[jjiimm_64]

It was UPS, but from recent news it looks like that they will be using Fedex. (and by delivery i'm afraid that the EXWORK thing on the TOS allows them to deliver to Fedex by the 31th).

@ninjarobot, they are closing every stream of information because it's their biggest strength. Keeping you at the dark allows them to have more margin of movement and not saying other lies publicly will just help them (just let gateway/hf_cl do the dirty job for you).

I just hope that you will testify what john told you when you went to visit them if we arrive to that point...

Please everyone stop with the 'is it usd value or btc value being returned'  

asked and answered many times... if you paid 51 btc , 51 will be returned..

ps:  ( I have it in writing, insisted on it before I ordered...)

[jjiimm_64]

Can you post a scan of that somewhere?

Is it notorized?

It is safely tucked away in an email.. if it becomes necessary, I will make it avail.  For now it seams they will be shipping before the 31st which makes it a moot argument anyway.

Jim

edit... OK,  moot

[cedivad]

It is safely tucked away in an email..

Change your email password and hope not to be hacked
(i'm paranoid but only to a certain degree)

[Syke]

It was UPS, but from recent news it looks like that they will be using Fedex. (and by delivery i'm afraid that the EXWORK thing on the TOS allows them to deliver to Fedex by the 31th).

Was the exwork thing in the original TOS, or the ninja-edited one?

[cedivad]

Was the exwork thing in the original TOS, or the ninja-edited one?

It is on the one they sent me and also there around the 10th of August.

[ninjarobot]

asked and answered many times... if you paid 51 btc , 51 will be returned..

It was never stated publicly (on the website, forum, or twitter) by HF afaik.

* Simon stated refunds will be done in BTC
* John told me full refunds will be done in BTC
* Updated ToS states refunds will be done in USD at the BTC exchange rate at the time of the sale.

Someone from HF needs to write down under what terms refunds will be provided to Batch 1 customers so there is 0 confusion. The should do this *before* the Dec 31st deadline.

Was the exwork thing in the original TOS, or the ninja-edited one?

It is in the original one:

Products shall be delivered EXWORKS (Incoterms 2000) Hashfast’s manufacturing facility, or other facility as designated by Hashfast, unless otherwise agreed in writing between Hashfast and Buyer.  Except for delivery dates explicitly guaranteed in the order confirmation, delivery dates communicated or acknowledged by Hashfast are approximate only, and Hashfast shall not be liable for, nor shall Hashfast be in breach of its obligations to Buyer because of any delivery made within a reasonable time before or after the stated delivery date. Timely delivery requires Buyer to provide all necessary order and delivery information sufficiently prior to the agreed delivery date.

btw, I never edited any TOS.. not sure what you mean by that?

[dogjunior]

It was UPS, but from recent news it looks like that they will be using Fedex. (and by delivery i'm afraid that the EXWORK thing on the TOS allows them to deliver to Fedex by the 31th).

@ninjarobot, they are closing every stream of information because it's their biggest strength. Keeping you at the dark allows them to have more margin of movement and not saying other lies publicly will just help them (just let gateway/hf_cl do the dirty job for you).

I just hope that you will testify what john told you when you went to visit them if we arrive to that point...

Please everyone stop with the 'is it usd value or btc value being returned'  

asked and answered many times... if you paid 51 btc , 51 will be returned..

ps:  ( I have it in writing, insisted on it before I ordered...)

I will believe it when it happens. No way they refund 40k in usd value when you paid about 7k in usd value.

[ninjarobot]

Who cares what the USD value was? I paid in BTC.

I agree. But if HF converted BTC to USD at the time of payment AND/OR used customer funds during development they will most likely be unable to provide full BTC refunds. So they try to avoid that if possible. There is a reason why they added the USD refund clause to the recent ToS update.

If they ship after the guaranteed deadline you have 3 options:

1) Accept miner -> Good luck making your BTC back! (never going to happen)
2) Request refund -> Get refunded in USD -> Instant 80% loss of initial BTC investment
3) Request refund in BTC -> get denied -> fund legal action -> hope to settle before others/insolvency -> Good luck with that.

None of the options is particularly attractive.

[joshv06]

So to all you people that paid in BTC and want refunds in BTC.. What would you want as a refund if Bitcoin was way less than you paid? Say 30$/BTC?

Would you all still be demanding BTC refunds?

This indirect investment idea is dumb. If you didn't invest in BTC, expecting the price to go up, than that's it..

I'm not defending HF. We should be focusing our anger in getting what we paid for and perhaps being compensated for the lies.

[minternj]

Hashfast what is going on?

1. You show us on  Dec 8th you were assembling boards.
2. You show us that you are mining on the live network around  Dec 20th.

We are now to assume that you are hashing with our equipment.  
Unfortunately your extremely poor communication skills and performance so far will leave us to assume the worst.

[ninjarobot]

But if HF converted BTC to USD at the time of payment AND/OR used customer funds ..

Again, this has nothing to do with me or any other customer. Whatever they did after I sent them BTC directly (no 3rd party service) is on them, not me. If they converted to USD, that's their mistake , not mine.

Yes, but there is also this thing called reality. And reality is a bitch.

[jimmothy]

So to all you people that paid in BTC and want refunds in BTC.. What would you want as a refund if Bitcoin was way less than you paid? Say 30$/BTC?

Would you all still be demanding BTC refunds?

This indirect investment idea is dumb. If you didn't invest in BTC, expecting the price to go up, than that's it..

I'm not defending HF. We should be focusing our anger in getting what we paid for and perhaps being compensated for the lies.

I agree. It is ridiculous to assume HF is going to pay out of pocket because you decided you want your btc back now that it is worth more. If you made a preorder, you are automatically converting btc to fiat or the equivalent.

Preordering asics is not some kind of hedge against the price of bitcoin as many are attempting to use it as.

Just like holding btc, preordering asics is a gamble and with HF it looks like it turned out to be a bad bet.

[itod]

Please everyone stop with the 'is it usd value or btc value being returned'  

asked and answered many times... if you paid 51 btc , 51 will be returned..

ps:  ( I have it in writing, insisted on it before I ordered...)

Excuse me sir, but I don't believe you. It's fishy you claim something and don't want to prove it, while it can cost you nothing to do so. If there is some personal data on it, just photoshop some black ink over it.

No offense jjiimm_64, but I'm starting to be suspicious that people like you, who claim such a thing, a HF shills who wan't to make all of us to ask for a refund and than scam us by returning just a small part of BTC. I'm not saying you are HF shill, but it sure is fishy you claim something very sensitive that can cost a lot of people a lot of money, and you don't want to prove it. Isn't it odd you are the only one to have such a thing in writing, and no one else but you have it?