HashFast announces specs for new ASIC: 400GH/s

[jjiimm_64]

Hey.. here we go!!

http://www.ciol.com/ciol/news/205319/alpha-announces-litecoin-asic-miner


just shut up and tell me where to send my money!!

oh, duh.. all of my coins are at HF

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[GalaxyASIC]

There will be NO MPP ...
any time soon. Here is why I think many of you are blinded by promise of MPP and think that MPP will save you after HF filed to deliver and now wants another 30 days = 90 days past due = same time when they said that MPP program already supposed to kick in.

My take on it is that first HF had to make sure that their chip is working before giving go ahead to make 2nd batch of wafers, because 1st batch was an engineering sample (probably only 1 wafer). Full manufacturing time frame is 12 weeks. HF probably knew that their chip design is ok toward end of December 2013, so count 12 weeks + 2+ weeks for from-wafer-to-full-working-unit-assembly = HF is barely could make MPP by the mid-end of April. Similar delay happen with BFL after they got their engineering sample, but they had said that they pre-manufactured additional wafers (I can't trust that statement) and still there was months of delay for getting 2nd order of wafers.

In contrast, HF is not saying anything about (at least I can't find it) when they will get chips for MPP program for Batch 1 customers which supposed to start in 30 days nor for other batches. Nor are they saying when they will ship MPP program. Nor are they saying when upgrade kits will be provided.

Batch 1 customers already lost 50%+ of their ROI and with 30 more days of delays for first shipment and 3+ month of delay for MPP program I see no way that Batch 1 customers will mine more than 10 BTC

[GalaxyASIC]

I am a HashFast's Batch 1 customer. If any of you want to join my effort of ether:
1. Getting full BTC refund in the amount that you paid, or
2. It's current equivalent in USD, or
3. getting additional MPP, or
4. some other compensation

 please PM me. So we can discuss this in private.

[sickpig]

Do they change their ASIC perf specifications since they announced it here?

tacotime quote 735GH/s abd .59 W/GH/s...

The Golden Nonce is:

The fastest Bitcoin mining chip in the world today — up to 735 Ghash/s per chip!
The most energy efficient mining chip in the world today — 0.59 watts per Ghash when run for maximum efficiency
The most silicon-efficient chip in the world — producing up to an astonishing 2.27 Ghash out of every square millimeter of silicon!
We couldn’t be prouder of these results – and can’t wait to see what the community can do with it.

Well, if mine ever manage to materialize they sound kind of nice.

now on their site http://hashfast.com/were-shipping-2013/ it's stated 664 GH/s and .67 W/GH/s 

[jcambond]

http://www.reddit.com/r/Bitcoin/comments/1u5t46/bitcoin_asic_manufacturer_hashfast_facing/

You will upvote, right?

Upvoted.

As a B1 BJ purchaser, I've been quietly reading/watching all this and WOW...what a train wreck of a company they seem to be running.  It's like they've authorized every employee to take whatever measures they think will work best with no coordination whatsoever.  Tweets that indicate units are shipping and then an email that says they're not.  A new lawyer acquisition that drafts an agreement that is clearly aimed at intimidation and covering of huge mistakes of which parts are clearly illegal/overstepping...and then can't even get the wording right...don't worry, you can be guaranteed that we will get out the word on the underhanded business practices engaged in by HF, you don't need to legally require us to do so...wow, how humiliating. And then there is this CL jackass that thinks that pointing his finger and screaming about a couple of speculative statements is going to distract anyone.  Here's a bit of advice...follow the lead your company has set over the past few months, go into hiding...on that note I also seriously suggest you update your résumé.

HF, common, you can make this right.  You can do something.  As perezoso out it, this siege mentality is going to end up turning on you.  We have already gotten the word out and those that go into arbitration will not stop (great job getting the story out, cedivad).  You hired a cadre of jackasses...you just forgot to hire a competent business strategist that will help you out of this mess you've lied your way into.  Think about it...we could be total converts...and we would.

[DPoS]

It seems clear to me that they are way over their heads and don't know what the heck they are doing.

remember those school projects that get a group of kids to make a local version of monopoly to raise money??  not sure if HashFast could even do that

[amer]

Instead of engaging the critics, they circled the wagons, took on a siege mentality, went double down on publicity promises that they were going to deliver their drug, started acting extra arrogantly.  And, more privately, they acted like cornered wolverines with their critics - rejecting every suggestion and being nasty, blaming the critics for problems of their own creation.

This is a very apt summary of the dangers of the siege mentality. I really want HF to pull it off and turn this around, but unfortunately most companies don't have the skillset in house to be able to do this. It's very difficult. When you're in the siege mentality, the default thought is that it's a storm that will blow over. "Okay, everyone will stop as soon as we ship/ship second batch/lower prices/keep not saying anything/fire a few people" but the storm never blows over. The only thing that fixes it is what you said earlier - transparency and reasonable compromise - and that's hard to switch gears to when just keeping the business alive is a struggle. (Most startups are in starvation mode for a few years, that's not specific to HF)

[jjiimm_64]

fukit... I just ordered from cointerra

[Gyrsur]

my version of the TOS says:

"...and HashFast will refund the payment for the units..."

my payment was a certain amount of BTC. there is no space for interpretation.

it is NOT:

"...and HashFast will refund the price for the units..."

[Internet151]

I am a HashFast's Batch 1 customer. If any of you want to join my effort of ether:
1. Getting full BTC refund in the amount that you paid, or
2. It's current equivalent in USD, or
3. getting additional MPP, or
4. some other compensation

 please PM me. So we can discuss this in private.

What exactly do you mean by "getting additional MPP"?

[ImI]

I am a HashFast's Batch 1 customer. If any of you want to join my effort of ether:
1. Getting full BTC refund in the amount that you paid, or
2. It's current equivalent in USD, or
3. getting additional MPP, or
4. some other compensation

 please PM me. So we can discuss this in private.

What exactly do you mean by "getting additional MPP"?

additional MPP = in my view the most realistic and profitable possibility

it would basically mean to get for example in Q2 3 x MPP in raw chips. thats not to expensive for them and for us customers its ok cause those chips could be sold or being built into rigs. just what suits better.

[RickJamesBTC]

ALWAYS BET ON iCE...

Since you like to bet, how about accepting mine?

I have 5 BTC that says HashFast will not ship a working miner containing Golden Nonce chips to even one customer in 2013.  (It has to be physical delivery.  Hosting doesn't count.)

Care to put up 5 BTC of your own against that?

I think I love you bogart.

I accepted Bogart's bet, on his conditions (ckolivas doesn't count) and even offered to double the stakes.

He has yet to respond.  I wonder why?

Your acceptance is acknowledged.  I didn't see your response at first since it came some days later and I don't frequent this thread.

No thanks on the doubled stakes.  I'd rather not tie up that much BTC.

Your bet may be rigged, as the icebeaker may in fact be the head of hashfast!! Watch out, he will ship one out just to win the bet.

Indeed there is risk involved.  I was not impressed with his waiting 5 days until new information was posted and then coming forth with "you're on."

But I already made the commitment when I first posted the proposal, so...

Bogart, has icebreaker paid his bet yet??

[GalaxyASIC]

additional MPP = in my view the most realistic and profitable possibility

it would basically mean to get for example in Q2 3 x MPP in raw chips. thats not to expensive for them and for us customers its ok cause those chips could be sold or being built into rigs. just what suits better.

Your Raw chips idea is bad, please stop suggesting it. You have no idea of its sale to others value nor cost and time of turning them in to functioning units. I do have a good idea on cost and time and I am suggesting don't ever mention that again.

[ImI]

additional MPP = in my view the most realistic and profitable possibility

it would basically mean to get for example in Q2 3 x MPP in raw chips. thats not to expensive for them and for us customers its ok cause those chips could be sold or being built into rigs. just what suits better.

Your Raw chips idea is bad, please stop suggesting it. You have no idea of its sale to others value nor cost and time of turning them in to functioning units. I have do have a good idea on cost and time and I am suggesting don't ever mention that again.

i actually didnt meant "raw chips". to be more accurate i meant complete boards as thats what the MPP will be like.

and those complete boards wont be such a big problem to handle, as we have already discussed here in this thread a thousand times.

thats for them easy to accomplish and is for us a good way to break even.

[perezoso]

I've been saying that double down on the MPP seems like the least worst option all around but there's absolutely no indication from them that they'd do it, and with their credibility problems and lack of a truly shipping device, it'd be hard to believe them if they did.

So we don't have a hardass in San Francisco? 

At this point not to negotiate with them, but to make an appointment with deCastro and/or Barber next week (sooner the better), and grill them on the facts.  How many chips in hand, how many ordered for arrival when, how many orders, nature of the BJ's problems, yadda yadda... just to get a sense of the realistic possibilities to resolve this, if any. 

If they refuse to answer questions, then they refuse. I suppose it's their right, but if the effort fails because HF won't talk in person, or says everything is a secret, then it only strengthens our hand with regulators, press, and others.

[GalaxyASIC]

 Reason why I don't want more MPP because:
a) MPP will come too late to be useful
b) it may cost too much for HF to provide 3x of MPP i.e. 12 extra boards with chips to each customer instead of 4; and HF may not even have that many available in March/April and we will have to buy power, cases, cooling hardware and then host it for 6-12 months in the temperature controlled facility because of the heat so many systems will generate and power they will use ~5,850W (450W*13) or more - all that seems just too much monkeying around to just get our BTC back. I rather let them take on that risk of mining and have my BTC back now. I don't think that even selling equipment will return my BTC since most of the equipment will come in April-June or later

Update:
 I already got 4 people that are interested in joining my efforts to get proper compensation for Batch 1 customers
 I am contacting CEO of the HF to start negotiations on behalf of number of customer. I had conversation with him before.

[cedivad]

Good luck.

[ImI]

Reason why I don't want more MPP because:
a) MPP will come too late to be useful

its usefullness is a combination of delivery TIME and SIZE. that means, a well stocked MPP in June or even July could be sufficient given enough hashpower is delivered.

b) it may cost too much for HF to provide 3x of MPP i.e. 12 extra boards with chips to each customer instead of 4

no, it wont. this business is a business of high r&d costs, but all later fabrication runs are very cheap to do. as far as i can remember death&taxes provided once a good estimate of the raw costs of such a mining device and the raw chip/board costs are going down to several hundred us$. thats it.

given that they are still selling new batches, they should stem that with ease.

and HF may not even have that many available in March/April

thats just a question of the pre-order queue at the silicon producing fabric in Taiwan/SouthKorea. ordering today a rocket run could bring the chips/boards as early as march. but i dont expect them to react so swift. thats a thought process thats has to happen first and we all dont know at the moment which outcome this project will finally come up to.

i personally would expect hashfast to react as soon as the MPP is deployed and one can estimate which BTC profit/loss is to be expected. so that could be march and in march they could order enough cheap boards for may that everyone is satisfied.

and we will have to buy power, cases, cooling hardware and then host it for 6-12 months in the temperature controlled facility because of the heat so many systems will generate and power they will use ~5,850W (450W*13) or more

those chips/boards will have some serious market value, just like the chips from BFl had. nobody is forced to build/mine.

I rather let them take on that risk of mining and have my BTC back now.

as i see it, the only ones that COULD be able to get some of their BTC back are those who ordered BEFORE august 15th. cause afterwards the TOS changed and we all agreed to USD refunds. so that might be some option for you but for a majority of us here that wont be an option.

[cedivad]

as i see it, the only ones that COULD be able to get some of their BTC back are those who ordered BEFORE august 15th. cause afterwards the TOS changed and we all agreed to USD refunds.

The TOS never mentioned USD refunds until December.

[padrino]

Update:
 I already got 4 people that are interested in joining my efforts to get proper compensation for Batch 1 customers
 I am contacting CEO of the HF to start negotiations on behalf of number of customer. I had conversation with him before.

Are you a Lawyer? Asking because in a situation like this I recommend a Lawyer have the conversation with the CEO, how you say what you want to say is very important, and if the CEO is worth his salt he will get coached by his Lawyer ahead of time... Heck I suspect like any company they have someone on retainer, it's not specific to Hashfast but a reality of the market, good company or not..