HashFast announces specs for new ASIC: 400GH/s

[SolarSilver]

I really hate all the enthusiasm they are putting in convincing us to be bankrupted without saying a single word.
Posted from Bitcointa.lk - #kaqvL6utYvaucUXW

Well at least HashFast_CL stopped fishing for pre-orders for their latest vapourware they'll never be able to ship on time and on spec ref their previous performances (no Batch #1 MPP shipped, no Upgrade kits shipped, no Batch #2 Sierras shipped, no Sierra MPP shipped)

Does the new injunction mean that if people pre-order with BTC their BTC is also frozen? Or are funds converted into USD free to be used to pay for their inflated wages, office rent and company cars?

[cedivad]

Does the new injunction mean that if people pre-order with BTC their BTC is also frozen? Or are funds converted into USD free to be used to pay for their inflated wages, office rent and company cars?

The injunction means that if HF has 300 BTC they have to hold on them until the 15th of April. They basically can't sell them from now until then. They have to appear the 8th (if i remember it correctly) and i guess that the injunction will be removed or renewed at that time.
Posted from Bitcointa.lk - #f7sitKmazz3EAxL7

[cedivad]

$440!
Posted from Bitcointa.lk - #OfpF8uf5Jy1qOKC9

[RoadStress]

$440!
Posted from Bitcointa.lk - #OfpF8uf5Jy1qOKC9

HashFail should be happy. Maybe you will start seeing BTC refunds

[cedivad]

HashFail should be happy. Maybe you will start seeing BTC refunds

No, but the their lawyers can't talk about "800% windfalls" anymore
Posted from Bitcointa.lk - #UxKLWGTtmgrHwkmf

[bkminer]

Oh boy do they love the word windfall.

A windfall was what they got when we all pre-ordered...

[CurcO]

LOL....  (This is off thier FAQ from their website, no joke ... Something does not add up 


Can I pay more to get in a sooner batch or get it faster?

We honor the relationship we have with each of our customers, large and small. Orders are shipping in the order they are paid for.

[jimmothy]

Now hashfast is selling boards and chips to VMC instead of shipping their own customers hardware.

https://bitcointalk.org/index.php?topic=462370.1380

[solarion]

Sweet, one scammy company supplying another while screwing over the people that funded the whole thing.

[ninjarobot]

HF decides to screw their customers at every opportunity they get. Why?

[solarion]

HF decides to screw their customers at every opportunity they get. Why?

Because they already paid. Scamfast has nothing further to gain(steal) from those "customers". Now they can just sell the products that should go to those "customers" to someone else.

[dropt]

HF decides to screw their customers at every opportunity they get. Why?

Simple answer?  They're broke.  They have chips they've paid for, but they do not have the capital to manufacture and ship complete miners... That's my guess anyways.

[solarion]

HF decides to screw their customers at every opportunity they get. Why?

Simple answer?  They're broke.  They have chips they've paid for, but they do not have the capital to manufacture and ship complete miners... That's my guess anyways.

Then why bother with a TRO to prevent them spending their ample supply of BTC? Pretty sure the lawyers figured out how to use blockchain.info.

[dropt]

HF decides to screw their customers at every opportunity they get. Why?

Simple answer?  They're broke.  They have chips they've paid for, but they do not have the capital to manufacture and ship complete miners... That's my guess anyways.

Then why bother with a TRO to prevent them spending their ample supply of BTC? Pretty sure the lawyers figured out how to use blockchain.info.

Do we know the address(es) that the TRO cover?  Do we know that they're in fact owned by HF?  Do we know that there aren't numerous other lawsuits that have frozen HF's traditional financial assets?

We know virtually nothing, but the simplest answer is they're broke.  In fact, one of the leaked e-mails between Garr and whomever almost literally states as much.

[solarion]

I don't "know" much of anything about scamfast's financials, but someone posted a btc addy just a few pages back with 3k btc in it. I know that *I* sent those thieves over 51Btc for a $6000 product and that payment is worth several times that now, same with the bj sales way back in August/September. If they can screw that up and run out of money while selling designs to a bunch of other scams then there's not much that can be done.

[dropt]

I don't "know" much of anything about scamfast's financials, but someone posted a btc addy just a few pages back with 3k btc in it. I know that *I* sent those thieves over 51Btc for a $6000 product and that payment is worth several times that now, same with the bj sales way back in August/September. If they can screw that up and run out of money while selling designs to a bunch of other scams then there's not much that can be done.

Exactly, and therein lies the problem.  For all we know that 3k address is some HF employee's address who elected to be paid in coins over fiat.  Wouldn't that be convenient? 

[solarion]

That's the problem with all these scammy companies. They lie endlessly and nobody knows anything for certain, except them, and they're dishonest.

They don't get the benefit of the doubt anymore, that time is over. Now they're selling equipment and designs to kslaughter...another scammer, rather than delivering to their own customers. They have a pile of chips and could just tell the truth. Something like:

"Hey guys we suck. We're broke, and can't make your shit anymore, but here's the board design and the chips you paid for, please use them to get your machines built."

While that would suck at least it would give their victims some relief, but they're instead trying to get me to agree to another delay. Scammy. Just like when they tried to get b1 victims to give up their rights to refunds. This company is staffed by a bunch of snakes.

[SolarSilver]

HF decides to screw their customers at every opportunity they get. Why?

Simple answer?  They're broke.  They have chips they've paid for, but they do not have the capital to manufacture and ship complete miners... That's my guess anyways.

That would be my guess too but I don't understand how they can be broke after all the pre-order money they took for their first Gen boards and now their second Gen boards. And they were supposed to have had angel investors that paid for part of the development.

Perhaps their new lawyer is more expensive than initially provisioned? Or it's a choice to ride this one out in court, as obviously there is no way they can ever please their initial customers. There are many ways they can syphon off the chip development IP to a new company and keep all the debt and obligations in the old one.

Edit: Is anybody adding up how many of their excess chips they have sold off? Active Mining talks about 5000 chips. I thought I saw earlier a price for the chips in the black miner thread, was it USD 700 for one chip? Can anybody correct me?

That would mean for Active Mining over USD 3 million

This would mean a considerable amount of new money flowing in since the beginning of this year?

[Bicknellski]

"BROKE"

[smoothie]

HF decides to screw their customers at every opportunity they get. Why?

Simple answer?  They're broke.  They have chips they've paid for, but they do not have the capital to manufacture and ship complete miners... That's my guess anyways.

They obviously did not have a good plan given all of their failures.

Scammers will scam.