HashFast announces specs for new ASIC: 400GH/s

[Gyrsur]

Sales are suspended temporarily. Please check back soon.

really not a good sign! prepare your mind to expect the worst from this startup!

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[cedivad]

prepare your mind to expect the worst from this startup!

Check.

[Xian01]

Yes, my mistake/misunderstanding: the unit I received is apparently an engineering sample.

No, not your mistake, imho.
HashFast has intentionally implied that they shipped you a production unit, as part of the normal shipping process.

 Hmm. Where have we seen this before...

[cedivad]

Yes, my mistake/misunderstanding: the unit I received is apparently an engineering sample.

No, not your mistake, imho.
HashFast has intentionally implied that they shipped you a production unit, as part of the normal shipping process.

 Hmm. Where have we seen this before...

Poor Luke. He should just sell the "engineering sample" unit and not spend any time helping this company in any way. (bad suggestion but i had to do it).

[Gyrsur]

Sales are suspended temporarily. Please check back soon.

really not a good sign! prepare your mind to expect the worst from this startup!

where are the US located forum members? I guess they discuss with their lawyer the possibility to declare insolvency to avoid refund? and maybe start new with a second company with a technologie transfer?

might this possible? they have a good lawyer so it's unimportant to keep this idea secret. they had have crisis meetings for sure.

[jjiimm_64]

Has Hashfast directly told anyone their full BTC refund was denied yet (other than general statement releases)?

this is a good point.... not sure why, but it is good

No, i was told that they will 'get back to me'

[gateway]

My kudos to gateway if this graduation of red for the new HF banner (top page) is yours. It's really nice.
 
http://hashfast.com

haha, Cedivad, thanks for letting me know I have no idea how that happened or who changed it.. It wasn't me, I have been busy with my other company today...

[Gyrsur]

Sales are suspended temporarily. Please check back soon.

really not a good sign! prepare your mind to expect the worst from this startup!

where are the US located forum members? I guess they discuss with their lawyer the possibility to declare insolvency to avoid refund? and maybe start new with a second company with a technologie transfer?

might this possible? they have a good lawyer so it's unimportant to keep this idea secret. they had have crisis meetings for sure.

I am a U.S. B1 BJ + upgrades buyer. If Hashfast does not refund the exact amount of Bitcoin I purchased with, then I wish to be included in any civil litigation and will be 100% available and open to investigators for investigation for criminal prosecutions, but I do not live near San Francisco, CA so I would not be the best candidate to liason with attorneys there.

If Hashfast refunds 100% of my BTC, then I have no interest in such activity.

That said, I am ready, willing and able to travel there as needed for testimony as a victim.

thank you! I'm not familiar with U.S. law that is why I asked for U.S. located forum members. in Germany it is possible to have a startup with initial capital and if all capital is spend to declare insolvency. after that maybe the wife of the founder will start a second company to continue the business.

[padrino]

Sales are suspended temporarily. Please check back soon.

really not a good sign! prepare your mind to expect the worst from this startup!

where are the US located forum members? I guess they discuss with their lawyer the possibility to declare insolvency to avoid refund? and maybe start new with a second company with a technologie transfer?

might this possible? they have a good lawyer so it's unimportant to keep this idea secret. they had have crisis meetings for sure.

It's sure possible and done frequently, as a private company it may in fact be a good option at the moment, leaving all of the potential issues in the hands of the current corporation.. With that said executives still need work work a little extra hard to be protected, it's not a slam dunk less they took the proper steps already..

[JWU42]

Sales are suspended temporarily. Please check back soon.

really not a good sign! prepare your mind to expect the worst from this startup!

So they sent out a sales campaign e-mail just a few days ago saying that prices were rising and orders must be paid in full by January 3rd and now follow-up with a sales are suspended?!?

Amateur hour...

[Vagnavs]

people are never get paid back in BTC. As prices have risen tenfold. I'm sure they converted BTC to Fiat right away. But good luck on your case

[minternj]

people are never get paid back in BTC. As prices have risen tenfold. I'm sure they converted BTC to Fiat right away. But good luck on your case

Forget BTC, has anyone even gotten a $USD refund ?

[jjiimm_64]

people are never get paid back in BTC. As prices have risen tenfold. I'm sure they converted BTC to Fiat right away. But good luck on your case

Forget BTC, has anyone even gotten a $USD refund ?

I doubt anyone has asked for a USD refund!

[minternj]

people are never get paid back in BTC. As prices have risen tenfold. I'm sure they converted BTC to Fiat right away. But good luck on your case

Forget BTC, has anyone even gotten a $USD refund ?

I doubt anyone has asked for a USD refund!

Pretty sure some people have. i think batch 2 people who paid with usd can get refunds as well.

[cedivad]

Forget BTC, has anyone even gotten a $USD refund ?

I would say "try to use that contract and find it out", but it would be trolling.

You are basically giving up everything with that contract.

[joshv06]

Where the fuck is our stuff?

[aneutronic]

Has Hashfast directly told anyone their full BTC refund was denied yet (other than general statement releases)?

I got my first FU email from them the beginning of December.
SOS with the TOS.

HashFast Support
12/4/13

Hello,

Unfortunately, we are not currently refunding orders.  As we promised our Batch 1 Baby Jet customers, we will refund their order if we do not deliver the order by December 31, 2013.
 
Our Terms of Sale include the following:
 
·         Except for the delivery dates described explicitly guaranteed using the words “guaranteed delivery” in the order confirmation sent by Hashfast, delivery dates communicated or acknowledged by Hashfast are approximate only
 

·         No order or any part thereof may be rescheduled or cancelled without Hashfast’ prior written consent, other than orders that remain undelivered after the “guaranteed delivery” date

 
We included this language to emphasize the point that we are a new company, designing a highly complex technology, and manufacturing it for the first time, and therefore estimated dates were just that.   
 
That said, we understand that there are many people interested in purchasing units from Batch 1 from other customers.  You may want to look for a buyer in the Bitcoin forums.  If you would like us to refer buyers to you, please let us know.
 
Very truly yours,

--
HashFast Support
support@hashfast.com

[cedivad]

I noticed that they stopped from signing their support messages with the name of the person that answers to you.

[ninjarobot]

I'm still waiting for my full BTC refund.

This is what my ToS says (http://pastebin.com/EfS9vmRf):

Payments are due in the amounts, in the currency, and at the time stated in the order or confirmation sent by Hashfast, or if not so stated: (a) paid Bitcoin, to the account designated by Hashfast; (b) within thirty (30) days of date of invoice.

This is what my order confirmation says:

HashFast Technologies has received your order and payment in BTC for 1 Baby Jets, shipping via Next Day Air Saver (UPS)

and:

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.

This cancellation and refund is Buyer's sole and exclusive remedy for HashFast failing to deliver by the December 31, 2013 guaranteed delivery date.  Buyer must cancel the order and request a refund by January 15, 2014 to avail him or herself of this remedy.

So if payments are due in the amounts, in the currency, and at the time stated in the order or confirmation. Then full refund of the payment is due in the amounts and the currency stated in the order or confirmation.

In summary:
1) payment in BTC: check
2) full refund of the payment in BTC: check
3) HF failed to deliver by December 31, 2013: check
3) Filed refund request before Jan 15, 2014: check

Am I reading/interpreting this incorrectly? Seems pretty clear to me.

Edit: Cedivad pointed out that you need to file your request as a hardcopy so will do that as well. (I have only filed an online refund ticket sales@hashfast so far). From the ToS:

Buyer will give Hashfast written notice of failure to deliver and thirty (30) days within which to cure, unless the order confirmation explicitly guarantees a delivery date.

I guess an email is not 'written' but a print out is?

[fenwick]

Buyer will give Hashfast written notice of failure to deliver and thirty (30) days within which to cure, unless the order confirmation explicitly guarantees a delivery date.

I guess an email is not 'written' but a print out is?

IANAL, but since in this case, we are dealing with a guaranteed delivery date, this clause is not relevant for the current sitatuation. (Just like the whole "Other Delivery Dates" section in the PURCHASE AND PAYMENT part.)