HashFast announces specs for new ASIC: 400GH/s

[frank93]

So they used this imaginary castro street as your very shipping address?  

at least that's what the lady on the phone told me, yes. i'll see for sure tomorrow ..

[1713507596]

1713507596

[cedivad]

If someone wants to met their lawyer:
http://www.youtube.com/watch?v=ESlqyC1evLg

[MinorMiner]

So Hashfast really decided to take money and run?

Anyone ever get a response from these people? Their phone number (800)609-3445 seems to lead to an 'answering service'

[Minor Miner]

So Hashfast really decided to take money and run?
Anyone ever get a response from these people? Their phone number (800)609-3445 seems to lead to an 'answering service'

I would not jump to that conclusion since they are refunding Batch 1 people (worldwide) that paid with bitcoin.   They are not refunding people that paid with US $, so it might just be something a lawyer has suggested they do to limit liability.
DeadTerra reported machines being delivered.

[miaviator]

So Hashfast really decided to take money and run?
Anyone ever get a response from these people? Their phone number (800)609-3445 seems to lead to an 'answering service'

I would not jump to that conclusion since they are refunding Batch 1 people (worldwide) that paid with bitcoin.   They are not refunding people that paid with US $, so it might just be something a lawyer has suggested they do to limit liability.
DeadTerra reported machines being delivered.

Well you two are confusing.

Do you have a link to DT showing the machines delivered?

[Minor Miner]

So Hashfast really decided to take money and run?
Anyone ever get a response from these people? Their phone number (800)609-3445 seems to lead to an 'answering service'

I would not jump to that conclusion since they are refunding Batch 1 people (worldwide) that paid with bitcoin.   They are not refunding people that paid with US $, so it might just be something a lawyer has suggested they do to limit liability.
DeadTerra reported machines being delivered.

Well you two are confusing.
Do you have a link to DT showing the machines delivered?

Strange indeed.  Here is the link to the DeadTerra quote I posted a few pages back.
https://bitcointalk.org/index.php?topic=262052.msg4516249#msg4516249

[Ytterbium]

So Hashfast really decided to take money and run?
Anyone ever get a response from these people? Their phone number (800)609-3445 seems to lead to an 'answering service'

I would not jump to that conclusion since they are refunding Batch 1 people (worldwide) that paid with bitcoin.   They are not refunding people that paid with US $, so it might just be something a lawyer has suggested they do to limit liability.
DeadTerra reported machines being delivered.

Well you two are confusing.
Do you have a link to DT showing the machines delivered?

Strange indeed.  Here is the link to the DeadTerra quote I posted a few pages back.
https://bitcointalk.org/index.php?topic=262052.msg4516249#msg4516249

Just sample machines though, it doesn't sound like they're getting the PH+ they were promising.

[perezoso]

Still interested in any reports from the wild of cases where "forced refunds" are issued, either for people who paid in USD or for people who are not Batch 1 (regardless of form of payment).

It's not really my thing, but I think you guys that paid BTC in Batch 1 ought not to fall for their terminology.  Don't call those checks "refunds", call them "unsolicited attempted buyouts" ("UABs") or something like that.  Winning the terminological battle can be important.

[Kouye]

Since it appears we have verified cases where people received a USD check as a settlement, when they
- Requested a BTC refund
- Didn't request a refund at all (through the form they issued)

For such people, the check is thus just an unsollicited donation from Hashfast.
I was wondering, how long do you have before the check expires? I think in france you have 1 year to cash it in...

So just keep the check, resolve the dispute by getting a full BTC refund as promised in the ToS you agreed to.
And when you have the BTC back, cash the check in to cover for the hassle!  

[Gandalfs Mentor]

Since it appears we have verified cases where people received a USD check as a settlement, when they
- Requested a BTC refund
- Didn't request a refund at all (through the form they issued)

For such people, the check is thus just an unsollicited donation from Hashfast.
I was wondering, how long do you have before the check expires? I think in france you have 1 year to cash it in...

So just keep the check, resolve the dispute by getting a full BTC refund as promised in the ToS you agreed to.
And when you have the BTC back, cash the check in to cover for the hassle!  

You will likely be required to surrender the uncashed draft or it would be deducted from the settlement.
In the US, in general, a draft (check) is only good for 6 months before it expires and becomes a 'dead draft'; please note that each bank follows different policy however the aforementioned is the usual.

[RickJamesBTC]

Since it appears we have verified cases where people received a USD check as a settlement, when they
- Requested a BTC refund
- Didn't request a refund at all (through the form they issued)

For such people, the check is thus just an unsollicited donation from Hashfast.
I was wondering, how long do you have before the check expires? I think in france you have 1 year to cash it in...

So just keep the check, resolve the dispute by getting a full BTC refund as promised in the ToS you agreed to.
And when you have the BTC back, cash the check in to cover for the hassle!  

I'm sure you're joking, but remember, just because they are criminals, it doesn't mean you have to be a criminal as well.

Checks are only good as long as they are backed anyways, if hashfast gets to the point where they have to go to court over a thousand cases of btc refunds, they will be fleeing the country with that 5000btc they have

[Kouye]

I'm sure you're joking, but remember, just because they are criminals, it doesn't mean you have to be a criminal as well.

Checks are only good as long as they are backed anyways, if hashfast gets to the point where they have to go to court over a thousand cases of btc refunds, they will be fleeing the country with that 5000btc they have

How is it criminal to cash in a donation that they sent to you out of the blue?
Anyway, I wasn't 100% serious either, you're right.

Back to serious stuff, if anyone needs the full original ToS page (the htm, and all sattelite files including the .css, .js, etc.), just shoot a PM to me.

[yuriygeorge]

http://www.citizen.org/documents/ACF110A.PDF

Arbitration is expensive. More expensive than lawsuits. Guess it makes sense to do mass action. Contact fenwick. Except I have certain trust issues - Occam's Razor helps.

[PuertoLibre]

To Me it sounds like they may have just royally screwed themselves and sent you guys a whole bunch of money to pay your Attorney with to get your BTC back... Wouldn't that be ironic  

You know what's is ironic? My hidden abilities to detect sockpuppets, that are ironic.

Yes everyone, please cash out the check to pay for your lawyer. Moare BTC for me.

Btw, when my lawyer said not to do so, i've answered him that i'm stupid, yes, but not that stupid. So let's see who falls for it.

Re: people who requested a USD refund that paid with USD and they have yet to receive it, good luck with that contract you signed.

So later batches are likely to get the very same treatment.

I really want to see if they have the courage to expose themselves to that kind of legal procedures for the following batches as well. If they do so it means that we are all stupid, and that there is something like 1% of the customers requesting a proper refund.

You misquoted, that is Gandalf, not me.

[PuertoLibre]

Thoughts?

Yes, HF's lawyer would be a problem. He has a good reputation.

I think the facts of the transactions are the real problems.

Even their lawyer can't perform miracles. They can only delay, obfuscate and confuse the issues.

As long as you know what was said/promised, this is relatively easy.

=======================

They promised (in writing) and (as self represented) a refund in multiple avenues of a specific type and condition.

Even if they shake their lawyer in the hopes that he will come up with something....he's probably just gonna go for "persuasion".

Those checks in the mail probably aren't HF's ideas. They are probably the lawyers ideas on how to get around the impossible scenario they have gotten themselves into. The silence that followed is probably the extra Advice for HF's employees and representatives to follow. Lest they get themselves even deeper into shitstorms.

All speculation of course, no actual reason to say otherwise though.

I'm not an expert on US law, but where I'm from you can cash a cheque & still remain able to claim the remainder of what you claim to be owed.  

You have to reply to them promptly in writing (make sure to date and photocopy the letter before sending it) saying "I have received your cheque as partial payment against the $xxx/BTCxxx owing to me as a refund from non-delivery of my [product name]. Please promptly pay the remainder outstanding, which is $xxx/BTCxxx."  If you want you might also give them a deadline after which you will charge (a reasonable) rate of interest.  Obviously, if you're claiming BTC back you will need to show how you have calculated their USD payment against the BTC balance.

Meanwhile, cash the cheque before they realize what you've done & stop payment.

I'm not a lawyer, but i did study fair trade law to 300 level at uni & there was case law supporting this. I'm sure there will be a similar law/precedent in the US but you should probably check to make sure. Again, not 100% positive about the US, but this worked in a case even where the cheque was sent with a note saying it was "final payment". It could be a way to play Hashfast at their own game.

You could do that, but that just adds an immense complication.

You'd be better off writing the letter first and giving them notice and wait for their response. (while not cashing the cheque.)

Still interested in any reports from the wild of cases where "forced refunds" are issued, either for people who paid in USD or for people who are not Batch 1 (regardless of form of payment).

It's not really my thing, but I think you guys that paid BTC in Batch 1 ought not to fall for their terminology.  Don't call those checks "refunds", call them "unsolicited attempted buyouts" ("UABs") or something like that.  Winning the terminological battle can be important.

Follow this guys advice.

You should probably also stop calling your BTC money and consider calling it "a transfer of property" while you are at it.

A property which inherent value is worth XXX,XXX USD.

[thoughtcourier]

This story is getting really juicy. Does anyone have a one-post summary of the narrative so far?

[miaviator]

This story is getting really juicy. Does anyone have a one-post summary of the narrative so far?

60BTC go down the hole.

[itod]

Cointerra is also not exactly stellar in it's attempts, full week after finished boards to miner hashing at 80% nominal speed:
http://www.youtube.com/watch?v=OS0HOgd7AmI

Who knew they will have a video like this before HF?

In retrospect, KnC abbility to do all this work in a single day looks from another world.

[cedivad]

60BTC go down the hole.

And someone doing 1000 BTC per day.

How long do they have before they miss the batch 2 deadline as well? They will need to start shipping batch 1 in what, 5 days top? Maybe even today?

Wondering...

[JWU42]

Batch 2 deadline is end of January IIRC