HashFast announces specs for new ASIC: 400GH/s

[Gandalfs Mentor]

Check or product???  Sleep Well

[dhenson]

Check or product???  Sleep Well

I used the door tag to track the package and just like I thought, it originated in San Francisco.

It's a FedEx Envelope...

I'm beginning to wonder if they are shipping to those customers that paid direct BTC payments without going through Bitpay.  It would make sense for them to try to payoff those that had the best chance of winning arbitration.

[SolarSilver]

Check or product???  Sleep Well

I used the door tag to track the package and just like I thought, it originated in San Francisco.

It's a FedEx Envelope...

I'm beginning to wonder if they are shipping to those customers that paid direct BTC payments without going through Bitpay.  It would make sense for them to try to payoff those that had the best chance of winning arbitration.

Has anybody outside of the USA received a cheque from HF in USD?

First of all, I don't want a USD refund, I want a BTC refund. I can only cash in a USD check with ridiculous costs (most Europeans will be in the same boat).

But mostly I want the hardware with MPP I've ordered. If I only make 30% back in BTC that way, it's better than loosing 90% on the BTC/USD exchange rate evolution

Can anybody who got a USD cheque post how much BTC they paid for a BJ and how much USD they got back? Rounded numbers are fine

[cedivad]

... I think that is what many of these ASIC fabricators want to do no? HF can just as easily now turn around and do that given all the "hard work" has been literally paid off by those who have invested.

A well deserved +1.

[cedivad]

Btw try to contact me if you have a big order (> 10 units), you have placed it with their 31 of Dec guaranteed delivery date and you sent a certified refund letter (you have until today or tomorrow to do so). I can't guarantee nothing, but you can try. (there are only a couple of people that match this requirements).

[cedivad]

Btw.v2 be advised that we don't know if faxes sent to those numbers (the one in the refund letter/check) are ok to send a written communication of failed delivery/refund.

And Btw.v3, i got up to study and i ended up laughing the whole time. Thanks HF.

[freddyfarnsworth]

Sadly, a 30 day burn in for a prototype tech is not unreasonable.  The run might have been twitchy and they just need to let the magic smoke out of the week ones...  Isn't that what a proper respectable business would do; especially with a high failure rate due to tight operating parameters on cutting edge tech.  How better to protect your customers

Certainly to announce something of this nature would be death to their business...  Better to do the bad and ignore everyone, then beg for forgiveness later, that's OK right?

Or Door number three; they realized their tech was viable but only in a farm environment...  decided to set up a farm in say Canada, say Quebec to start mining and then issues GH equivalent shares to their steadfast customers who supported them through thick and thin... It could happen.

You would further likely sell any inferior runs really cheap with a short warranty through a drop ship type setup...  Say like right before you started making refunds for what you couldn't provide, Ya, Ya, Like the Friday before the Monday when you start making refunds....

http://bitcoingraders.com/product/wholesale-mining-motherboards-wasic-chip/?added-to-cart=35

Go Team Go!!!!   

Just a couple edits, and we got the plan.
"death to their business..."AT THIS TIME <added
"You would further likely sell any inferior runs really cheap" SHIP any weak units as planned to whoever is still waiting <added

[jspielberg]

Check or product???  Sleep Well

I used the door tag to track the package and just like I thought, it originated in San Francisco.

It's a FedEx Envelope...

I'm beginning to wonder if they are shipping to those customers that paid direct BTC payments without going through Bitpay.  It would make sense for them to try to payoff those that had the best chance of winning arbitration.

That would be a good working theory... I only got a forced refund on my later direct btc order rather than my very early bitpay order (so far). 

Did you ask for a refund (in any form)?

I was frankly excited at first thinking it was the miner since I hadn't any contact with the company.  When the FedEx guy came back with an envelope, I knew it was not going to be good.  Then I felt like an idiot for rushing to the FedEx office thinking I was going to be mining tonight to start digging out from the hole.

[Biffa]

You would further likely sell any inferior runs really cheap with a short warranty through a drop ship type setup...  Say like right before you started making refunds for what you couldn't provide, Ya, Ya, Like the Friday before the Monday when you start making refunds....

Shorter than the 10 day warranty is already? https://bitcointalk.org/index.php?topic=278157.0

[RoadStress]

At some point when you see "hey, if they actually stick to everything they promise, i literally cannot lose money in 99.99% of situations and will make massive profit" you are supposed to realize you are being scammed and dealing with liars who will fuck you over

To be fair, a lot of people have been burned on this and it's been going on for over a year now

* BFL
* Avalon Chips
* Hashfast
* Other's i'm probably overlooking

Satoshi's oversight was chosing a PoW algorithm that could be effectively ASIC'd for several orders of magnitude increase in hash rate and power efficency which nessiciarily centralizes all power, profit and leverage into the hands of less than a few dozen human beings on the planet.  If everything were to start from nothing the objectively far superior solution would be a GPU-targeted algo like scrypt which decouples the hardware manufacturer.

One man, one fucking person, one russian, now controls like 30%+ of the network (GHash.io/Cex.io) because he alone had an effective 65nm ASIC and HE ALONE had an essentially unlimited ability to make more money printing machines that only him and a dozen other people on the planet could compete with on terms of marginal cost/hash rate.

That's because people are willing to throw money at him blindly for his overprices miners/chips and even now when they know this they keep throwing money at him. Because people don't think, they just act. So just please stop buying bitfury stuff!

[Witness]

1yr Manufacturer Warranty is Standard across the electronics industry.

To be honest im not suprised...

Its a shame, i was actually rooting for them. At this point its blatantly obvious that hashfast has some issues that reflects the type of perception they have .. 10 days.. Thats laughable! Its almost pathetic.. Its a blatant spit in the face to people ponying up 5k+ to support them.
 

You can do alot better hashfast.  

I think these Asic companys are under the impression they can sustain a cycle of high prices, piss poor support, and products that are outdated when they get into customers hands. Its down right embarrassing, some of these venture's cant even put up a website with a half decent shopping cart. They cant even write a privacy policy or mission statements.. they are using templates and basically are under the impression that their customers are there to be abused.

Its not just one company.. its the whole lot of them! Its almost standard practice to have the website fail during purchase! Were are talking large purchase's and not some $30 trinket off ebay! These Asic company's have their nose so high in the air that they are not even responding to tickets or calls for support. Its not just Avalon who cant put up a simple site to take orders .. its Avalon, xcrowd, hashfast, bfl and between them they have set a standard of ABUSE!  

Look at all the customers who have basically been spit on ... Their requests for refunds fall on deaf ears, missing orders, no confirmation emails..  No reps making announcements. While you the customer do your part and pay dearly in btc and or cash to the tune of thousands sometimes tens of thousands, the companies are basically swimming in your cash and parleying it into multi million dollar ventures that are able to operate without YOU!

Once they have your btc or $, they will just use it for development and mine themselves! They have absolutely zero incentive to support or back their products. They have ZERO incentive to provide an even half way decent support system.

I am not at the least bit surprised at a 10 day warranty. In fact i would have expected it to be 3 days.. with a requirement that you need a notarized letter from hasfast accepting the return with a minimum wait time of 3 months and YOU pay the cost of shipping both ways!

Its really reflective not only on their perception of their position but its also reflective of their company, their standards.. and its a SIGN of whats to come! This wont be the last time an ASIC company spits in our face but until people DEMAND a standard of better behavior its not going to get better!

Maybe when need to have a sub forum of lawyers on site that are pro consumer and ready to take action for some of these group buy and even some of the individuals that paid and are getting the run around!


Imagine the kind of gut wrenching feeling you will have when your piss poor product blows a bunch of capacitors on the 11th day!!  

If its not a piss poor product than the manufacturer will support it with a decent warranty because they have faith in their engineering, materials and build quality!

But thats not the case here. What we have are a group of Asic developers who have standardized making products that have a minimal lifespan and they back it with piss poor websites, piss poor support, piss poor marketing and an overall feeling that after they take your funds you are going to be lucky if you ever see a product let alone find ROI!

While they on the other hand are swimming in profits and have no intention of delivering their promises!

https://hashfast.com/shop/babyjet/

See the bottom on the babyjet web page, the part that labeled shipping!

See how it says "Shipments "anticipated" to begin: October 20-30, in order of purchase"

I anticipate that im going to be a millionaire by 2016 but that doesn't mean its remotely going to happen! Your selling a time sensitive product that looses its purchase value astronomically if its not delivered on time!

We don't want "anticipation" we want a guarantee!!

I dont mean to be over critical of hashfast.. because i was over critical of KNC and i "may" have misspoken but and as it stands im not so sure buying an ASIC from "anyone" is a smart move as KNC hasn't shown a working product either. I had a lot of faith in Avalon and that has all but diminished. I think they let things get out of control and it may just be circumstances out of their control but the trail of blood from their chip sales tell a different story... Cointerra seemed like they were going to finally set the ASIC space straight but they are a rinse and repeat of the business models and practices currently in place!  


Until we have one company that will put us first.. Its "difficult" at best to take them seriously!

one wise man once said

[Flying Hellfish]

At some point when you see "hey, if they actually stick to everything they promise, i literally cannot lose money in 99.99% of situations and will make massive profit" you are supposed to realize you are being scammed and dealing with liars who will fuck you over

To be fair, a lot of people have been burned on this and it's been going on for over a year now

* BFL
* Avalon Chips
* Hashfast
* Other's i'm probably overlooking

Satoshi's oversight was chosing a PoW algorithm that could be effectively ASIC'd for several orders of magnitude increase in hash rate and power efficency which nessiciarily centralizes all power, profit and leverage into the hands of less than a few dozen human beings on the planet.  If everything were to start from nothing the objectively far superior solution would be a GPU-targeted algo like scrypt which decouples the hardware manufacturer.

One man, one fucking person, one russian, now controls like 30%+ of the network (GHash.io/Cex.io) because he alone had an effective 65nm ASIC and HE ALONE had an essentially unlimited ability to make more money printing machines that only him and a dozen other people on the planet could compete with on terms of marginal cost/hash rate.

That's because people are willing to throw money at him blindly for his overprices miners/chips and even now when they know this they keep throwing money at him. Because people don't think, they just act. So just please stop buying bitfury stuff!

The life of an investomer, all the risk and non of the rewards!  Fortunately for the current manufacture's they have found a community full of folks who just love to be investomers and some of those investomers even run around saying how it's the only business model that works in this high tech space LMFAO!!  This community is a wet dream for people looking to take advantage of other people, fucking sad if you ask me.

[Puppet]

So just please stop buying bitfury stuff!

Thats nonsense. Bitfury makes the chips, once they ship and get assembled on boards elsewhere, while running opensource mining software, bitfury no longer controls anything. He just counts his money, money thats well deserved. You might argue against buying hashrate at cex.io, but buying bitfury hardware is no threat to anyone. Even on the contrary Id say, any bitfury rig in the hands of individual miners is a protection against some dark entity taking control over the network. So buy more bitfury's

[RoadStress]

So just please stop buying bitfury stuff!

Thats nonsense. Bitfury makes the chips, once they ship and get assembled on boards elsewhere, while running opensource mining software, bitfury no longer controls anything. He just counts his money, money thats well deserved. You might argue against buying hashrate at cex.io, but buying bitfury hardware is no threat to anyone. Even on the contrary Id say, any bitfury rig in the hands of individual miners is a protection against some dark entity taking control over the network. So buy more bitfury's

I hope you read this before mighty gmaxwell will come and more these OT posts because he is doing such a great job now, but not when there were tons of BFL threads with tons of OT stuff.

Bitfury sells his chips way way overpriced. With the money he is making from chips he is making for himself 3x or 5x more chips for his farm. People buying bitfury miners puts money in bitfury's pockets and also in the hardware seller's ones. So it's a lose lose. I imagine that for every 400Gh kit that bitfury/hardware maker sells then bitfury is adding ~1.2Th for himself (of course this number isn't backed by anything, but the point stands. it might be 400GH for himself or 800GH for himself or maybe 1.6Th). Bitfury was selling bare chips for 30$ a chip or maybe more. What's the cost of that chip? 1$? You do the math from there.

[seriouscoin]

So just please stop buying bitfury stuff!

Thats nonsense. Bitfury makes the chips, once they ship and get assembled on boards elsewhere, while running opensource mining software, bitfury no longer controls anything. He just counts his money, money thats well deserved. You might argue against buying hashrate at cex.io, but buying bitfury hardware is no threat to anyone. Even on the contrary Id say, any bitfury rig in the hands of individual miners is a protection against some dark entity taking control over the network. So buy more bitfury's

I hope you read this before mighty gmaxwell will come and more these OT posts because he is doing such a great job now, but not when there were tons of BFL threads with tons of OT stuff.

Bitfury sells his chips way way overpriced. With the money he is making from chips he is making for himself 3x or 5x more chips for his farm. People buying bitfury miners puts money in bitfury's pockets and also in the hardware seller's ones. So it's a lose lose. I imagine that for every 400Gh kit that bitfury/hardware maker sells then bitfury is adding ~1.2Th for himself (of course this number isn't backed by anything, but the point stands. it might be 400GH for himself or 800GH for himself or maybe 1.6Th). Bitfury was selling bare chips for 30$ a chip or maybe more. What's the cost of that chip? 1$? You do the math from there.

+ 1
Every miner manufacture is building their own mining farms. Eventually most the network share will belong to the few entities. They compete with their own customers and being the suppliers they have the upper hand. They priced their products based on their better projected future hashrate of the network.  Their customers in the mean while are just shooting in the dark.

This is alot more serious than many can think of. Greed is the biggest weapon to human race.

[ImI]

So just please stop buying bitfury stuff!

Thats nonsense. Bitfury makes the chips, once they ship and get assembled on boards elsewhere, while running opensource mining software, bitfury no longer controls anything. He just counts his money, money thats well deserved. You might argue against buying hashrate at cex.io, but buying bitfury hardware is no threat to anyone. Even on the contrary Id say, any bitfury rig in the hands of individual miners is a protection against some dark entity taking control over the network. So buy more bitfury's

I hope you read this before mighty gmaxwell will come and more these OT posts because he is doing such a great job now, but not when there were tons of BFL threads with tons of OT stuff.

Bitfury sells his chips way way overpriced. With the money he is making from chips he is making for himself 3x or 5x more chips for his farm. People buying bitfury miners puts money in bitfury's pockets and also in the hardware seller's ones. So it's a lose lose. I imagine that for every 400Gh kit that bitfury/hardware maker sells then bitfury is adding ~1.2Th for himself (of course this number isn't backed by anything, but the point stands. it might be 400GH for himself or 800GH for himself or maybe 1.6Th). Bitfury was selling bare chips for 30$ a chip or maybe more. What's the cost of that chip? 1$? You do the math from there.

+ 1
Every miner manufacture is building their own mining farms. Eventually most the network share will belong to the few entities. They compete with their own customers and being the suppliers they have the upper hand. They priced their products based on their better projected future hashrate of the network.  Their customers in the mean while are just shooting in the dark.

This is alot more serious than many can think of. Greed is the biggest weapon to human race.

Greed is the biggest weapon AND is one of the biggest stimulation to human race.

[PuertoLibre]

Check or product???  Sleep Well

I used the door tag to track the package and just like I thought, it originated in San Francisco.

It's a FedEx Envelope...

I'm beginning to wonder if they are shipping to those customers that paid direct BTC payments without going through Bitpay.  It would make sense for them to try to payoff those that had the best chance of winning arbitration.

That would be a good working theory... I only got a forced refund on my later direct btc order rather than my very early bitpay order (so far). 

Did you ask for a refund (in any form)?

I was frankly excited at first thinking it was the miner since I hadn't any contact with the company.  When the FedEx guy came back with an envelope, I knew it was not going to be good.  Then I felt like an idiot for rushing to the FedEx office thinking I was going to be mining tonight to start digging out from the hole.

Can someone draw up a basic letter for folks to use if they are receiving unsolicited USD refunds/or a settlement offer that refutes the return of BTC property?

It's probably time to send them notice that their settlement offer is "refused".

[jjiimm_64]

At some point when you see "hey, if they actually stick to everything they promise, i literally cannot lose money in 99.99% of situations and will make massive profit" you are supposed to realize you are being scammed and dealing with liars who will fuck you over

To be fair, a lot of people have been burned on this and it's been going on for over a year now

* BFL
* Avalon Chips
* Hashfast
* Other's i'm probably overlooking

Satoshi's oversight was chosing a PoW algorithm that could be effectively ASIC'd for several orders of magnitude increase in hash rate and power efficency which nessiciarily centralizes all power, profit and leverage into the hands of less than a few dozen human beings on the planet.  If everything were to start from nothing the objectively far superior solution would be a GPU-targeted algo like scrypt which decouples the hardware manufacturer.

One man, one fucking person, one russian, now controls like 30%+ of the network (GHash.io/Cex.io) because he alone had an effective 65nm ASIC and HE ALONE had an essentially unlimited ability to make more money printing machines that only him and a dozen other people on the planet could compete with on terms of marginal cost/hash rate.

That's because people are willing to throw money at him blindly for his overprices miners/chips and even now when they know this they keep throwing money at him. Because people don't think, they just act. So just please stop buying bitfury stuff!

Or just buy GPUS instead from reputable manufactures.. right off the shelf.. imagine that, decide to buy and product. click click at your door the next day..

I am not going to say what to do with the gpus... because apparently your posts get deleted for that...

[perezoso]

I got back a check from hashfast from the silicon valley bank for the USD price + 5%

I hope you fight back and win, this is a clear, textbook fraud. Those fuckers need to be put to an end.

Yeah, these fuckers do need to be put to end.

But informational question:  I paid in USD and am in the US.  I did not request a refund and have not received one.  Is there anybody out there that paid in USD that has received a "forced refund" check?

[dbbit]

But informational question:  I paid in USD and am in the US.  I did not request a refund and have not received one.  Is there anybody out there that paid in USD that has received a "forced refund" check?

Close - I paid in USD and am in the US as well. I requested a refund but did not receive one (yet).