HashFast announces specs for new ASIC: 400GH/s

[perezoso]

It's a little bit vigilante, but if everybody on this thread simply sent an e-mail with a link to this thread to the other recipients of Hashfast's 27 December e-mail, then we'd attract some other people with our interests...

"Hi, I'm also a Hashfast Batch 1 customer, and I received the same group e-mail that you did on December 27th.  Some of us think that Hashfast is giving its customers a raw deal.

In case you haven't see it already, I thought you might like to visit this thread at bitcointalk.org for more information:

https://bitcointalk.org/index.php?topic=262052.5720"

Simple as that.

[jjiimm_64]

Lol, I simply flagged them and marked it as being scam/fraud

DONE>

Issue reported:
Spam or misleading > Scams / fraud
Timestamp selected:
0:36
Additional details:
This company does not honor Terms of Service for their customers.

[jjiimm_64]

It's a little bit vigilante, but if everybody on this thread simply sent an e-mail with a link to this thread to the other recipients of Hashfast's 27 December e-mail, then we'd attract some other people with our interests...

"Hi, I'm also a Hashfast Batch 1 customer, and I received the same group e-mail that you did on December 27th.  Some of us think that Hashfast is giving its customers a raw deal.

In case you haven't see it already, I thought you might like to visit this thread at bitcointalk.org for more information:

https://bitcointalk.org/index.php?topic=262052.5720"

Simple as that.

Pretty sure all batch1 customers know exactly what is going on.

[Anddos]

You cant expect hasfast to predict when that china ban was gonna happen causing the value of btc to drop,that is what has happened here,so even tho people paid the high amount in btc you should be refunded in the same amount in btc (even if the value of btc is lower),its really not there fault at all.

[fenwick]

If you ordered batch 1 you got an email confirmation.  In this email it has the word "full" as in "full refund."  Hashfast removes the word "full" from "full refund" which is not in their TOS.

https://i.imgur.com/FTQp71w.png

They have changed the text of this confirmation mail later on.
In later version, it only says

If Buyer ordered one or more units of such Baby Jets, and Hashfast does not
deliver such units by that date, then Buyer may cancel the undelivered portion of
the order at Buyer's request and Hashfast will refund the payment for the units
that Buyer purchased but did not receive and canceled.

So they have (silently) removed the "full" part.

Not sure exactly when this happened, though.

[ninjarobot]

Regarding refunds:

Payments to be made in BTC with the help of BitPay

Orders are taken in BTC, in the unlikely event we get to refunds they will be given in BTC.

HashFast guarantees that all "Baby Jet" units from our first production batch will be delivered by December 31, 2013.  If Buyer ordered one or more Baby Jet units, and HashFast does not deliver such units by that date, then Buyer may at his or her discretion, cancel the undelivered portion and HashFast will issue a full refund the payment for the units that Buyer purchased but did not receive and cancelled.

Seems pretty clear to me.

Now contrast that to the refund email from today:

As orders were priced in USD, refunds will be issued in the equivalent amount of USD. If a refund is to be paid in BTC, the USD to BTC market exchange rate on the date of refund will be used to calculate the amount of BTC to be refunded.

I think 'payment' is the keyword here. Not 'pricing'. Payments were made in BTC and HashFast committed to full payment refunds in the order confirmation.

[fenwick]

We should collect and document all the variations of the TOS that existed along the way.
For the first round, we could just collect the ones sent out in emails (there were several versions),
but then again, there are documented cases when they have sent out a different version in the email, not the one that was active on the site at the time of actual order... so we need more than that.

[perezoso]

Sent this email to Ti-Zi

Went to my section as well.

[Anddos]

Twiter

HashFast ‏@HashFast 27 Dec
Just did the following calculation for the Baby Jet on Eligius. At 0.33 BTC per day, that is almost 7 Bitcoins in only 21 days. Exciting!

So there not aware of the difficulty increase in 3 days from now?

How did they get .33 BTC at the current difficulty 1,180,923,195 with 430 GH?

http://www.bitcoinx.com/profit

Coins per 24h at these conditions   0.1831 BTC

They are lying again???

1. They lie about delivery dates
2. They lie about the watt usage
3. They lie about the amount of BTC it can produce

What next guys?

[DeathAndTaxes]

The sad thing is that 429 GH/s hasn't made 0.33 BTC for a very long time.  It is more like 0.18 BTC today.  Not sure if it is incompetence or just scamming up more sales that made them ignore the fact that one day pool output is boosted by luck.

So it is 0.18 BTC per day for the next couple days but it will drop to 0.126 before they even deliver.  That would last for at most 11 days and then difficulty will go up at least another 30% so reward falls to 0.082.

TL/DR

No a lackluster 429 GH/s, delivered two months late and using just as much power as KNC ( remember when they bashed them) will deliver something 2 BTC in 21 days and that is probably 1/3 to 1/2 of what it will produce in its lifetime.

[RickJamesBTC]

.33 on 427GH... Sure thing! rofl. I feel so bad for anyone who sees one of their google ads and buys it thinking they may get something in the next few months that can make any kind of profit.

[fenwick]

All European customer will probably have to pay customs (and also VAT) if we accept the shipment.
By now, we have arrived to the point that it's unlikely that the mined BTC will cover this.
(Even if we completely forget the price already paid!)

Now the MPP _might_ change that, but who knows when that will ship.

So it makes less and less sense to accept the delivery.

[fenwick]

I received a reply from one of the emails I sent out stating he was a Batch 4 customer. So all customer emails have been leaked for every order up to that email, not just batch 1 customers.

Well, at least this incident can be the beginning of a strong alliance of all the disgruntled clients.
Do we have a mailing list yet?

[texasaggie]

Here is their miner and now it looks like they have two working at about 1 TH; http://eligius.st/~wizkid057/newstats/userstats.php/1KSZMq1L9ZWEBKEHuW7ACXWZJYdxiTdaVt

Just if anyone cares.

[jspielberg]

.33 on 427GH... Sure thing! rofl. I feel so bad for anyone who sees one of their google ads and buys it thinking they may get something in the next few months that can make any kind of profit.

So... HF said at one point that they had 3 development module (one of which went to Ciarra for measurements with Amy).  I guess they are trying to mine as much as they can with what they have (3 modules) which is why they hashrate looks so high.  The projected 7 BTC return in the twitter feed is outright false advertising.

[perezoso]

Do we have a mailing list yet?

I don't think anyone has attempted to assemble a complete list, but we have the means to do so between us.  Each of us received an e-mail CC'd to a portion of the complete list, ordered alphabetically by e-mail address.  We simply need to share those lists and merge them into a whole.

There are unresolved privacy concerns, however, so I guess for the time being we must rely on individuals mailing to the portion of the total whose addresses they have.  (The "Hashfast Customer Protection Union" ... can't somebody come up with a better name/acronym? ... could make this a priority.)

Alternatively, we could elect an individual, in whom we have trust, to assemble the list and keep it private.

Here is their miner and now it looks like they have two working at about 1 TH; http://eligius.st/~wizkid057/newstats/userstats.php/1KSZMq1L9ZWEBKEHuW7ACXWZJYdxiTdaVt

Just if anyone cares.

OMG.  They allow Aggies on this board?

[texasaggie]

I guess not!

[monsieur]

How can you guys even think about suing them. Just think how much you'll hurt lovely Cara!

[houndazs]

I bought mine with BTC when BTC was at about $395.  It would suck not to get half that back, because of current rates.

[jspielberg]

I bought mine with BTC when BTC was at about $395.  It would suck not to get half that back, because of current rates.

Most of us Day1 purchasers paid 60BTC... consider yourself lucky.