HashFast announces specs for new ASIC: 400GH/s

[HardwareReviewer]

http://www.coindesk.com/mining-hardware-companies-miners-roundup/

[cedivad]

And to take a look at how informative and not paid Coindesk is, their update:
http://www.coindesk.com/court-grants-order-freeze-hashfasts-bitcoin-wallets/

Simply "claiming that the plaintiff in question has never purchased any products from the company.", not the whole story i've been spamming all over the forums, reddit and twitter.
Posted from Bitcointa.lk - #LccpYwYC2LzVOxa9

[pmorici]

Is there any clear evidence around that makes that statement a lie? A receipt maybe?

http://www.deanslyons.com/PDFs/2014-03-25-Plaintiff-s-First-Amended-Petition.pdf

The complaint to the court is on the lawyers website and explains what happened pretty clearly.  It has invoices attached.

[Bicknellski]

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.

Everybody is entitled to their own interpretation, but I will say this: There is a strong incentive to play bankrupt as long as the statute of limitations keeps their effective liability intact. HashFast draws from a horrific playbook which is somewhat related to the economics of enslavement.

It all starts when you transfer money (something of real value) towards them in exchange for a future commitment. This future commitment gets transformed into something the customer has to "chase", which requires more time and effort and thus degrades their full liability towards an effective liability. They can do that because customers are human beings with a limited amount of time and persistence, and also because there are legal frameworks which allow them to make the hunt very cumbersome and limit the timescale for potential damages. Of course it also helps if the object of the hunt looks undesirable, like in a case of a possible bankruptcy.

It follows that the difference between the full liability and effective liability is an additional profit margin to their business. This is a form of windfall profit they can engineer themselves and thus they do. It still has to be revealed whether they are using that profit margin on top of the one from producing mining equipment or as a replacement. Time will tell.

Question which of these fabricators employ such horrific tactics?


ASICMiner   
Bitmain   
Bitfury   
KNC
Avalon   
CoinTerra   
Lightning ASIC   
SpondooliesTech   
Black Arrow   
Hash Fast   
BitMine   
VMC   
BFL
Drillbit   
Redhash   
Technobit   
One String Miner
Starfire X   
AMT   


Might want to add that to any metric measuring the trustworthiness of a company. https://bitcointalk.org/index.php?topic=456691.0

Anyone want to complete the table?

Employ economics of enslavement                                                                   Do not employ economics of enslavement

BFL                                                                                                                   KNC
HashFast                                                                                                           One String Miner
                                                                                                                        Bitmain

[Bicknellski]

Is there any clear evidence around that makes that statement a lie? A receipt maybe?

http://www.deanslyons.com/PDFs/2014-03-25-Plaintiff-s-First-Amended-Petition.pdf

The complaint to the court is on the lawyers website and explains what happened pretty clearly.  It has invoices attached.

Thanks I knew that it was probably documented I just wanted it posted here so that people can see what Hash Fast says is pretty much a lie.

[PuertoLibre]

Note to self,
When dealing with Bitcoin Hardware Manufacturers and/or Pre-orders in the BitCoin Community, remind self to "OBLIGATE" individual(s) behind the company [or sale] to agree to a contract that binds them to a specific liability.

Remind self that this is an extra measure of safety in case of default or bankruptcy.

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

If they fail in their company, then we sell off everything their employees own [under contract?] and saddle them with perpetual lifelong debt.

[Bicknellski]

Note to self,
When dealing with Bitcoin Hardware Manufacturers and/or Pre-orders in the BitCoin Community, remind self to "OBLIGATE" individual(s) behind the company [or sale] to agree to a contract that binds them to a specific liability.

Remind self that this is an extra measure of safety in case of default or bankruptcy.

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

If they fail in their company, then we sell off everything their employees own [under contract?] and saddle them with perpetual lifelong debt.

Escrow?

[kano]

Note to self,
When dealing with Bitcoin Hardware Manufacturers and/or Pre-orders in the BitCoin Community, remind self to "OBLIGATE" individual(s) behind the company [or sale] to agree to a contract that binds them to a specific liability.

Remind self that this is an extra measure of safety in case of default or bankruptcy.

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

If they fail in their company, then we sell off everything their employees own [under contract?] and saddle them with perpetual lifelong debt.

Well even if you made this comment a year ago, it wouldn't have been prophetic.
It's well known for more than a year and yet most people still buy stuff and lose money every day.
Is there anything you can buy for X BTC that will mine X BTC or more?

[Legend21]

I still remember in the begin when i deside to chose between Hashfast and Cointerra, never knew that in my head the devil picks up that fcking idiots.

I am batch 3, have ask my refund already end January,  today already april, still no refund, no reaction, nothing on e-mail support.

For the people that ask now a refund, can wait till August 2014 or in 2015 before they get their refund. Hashfast think we are fools, and playing games with us.

[cedivad]

Hashfast think we are fools

Aren't we?
Posted from Bitcointa.lk - #PZuC0qndIAlpBv8i

[solarion]

Hashfast think we are fools

Aren't we?

I certainly am. Fell for their stupid weekend sale when it seemed obvious they were good to go with their chip production. Even paid for next day early am shipping. stupid.

One sierra doesn't seem like enough to bother with a lawyer and I'm not the type to use a baseball bat for anything besides hitting baseballs.

[yuriygeorge]

Anyone experience failure in the Baby Jet Upgrade fan? My upgrade chip is now running low because the associated cooling/fan stopped working, i.e, making that very loud noise. Any thoughts would be appreciated!

P.S. For those that installed the upgrade fan, did you screw in the fan facing downwards towards the floor (if standing up), so that the air is blowing outwards at the ground?

[SolarSilver]

P.S. For those that installed the upgrade fan, did you screw in the fan facing downwards towards the floor (if standing up), so that the air is blowing outwards at the ground?

I thought that in the upgrade kit, the new water cooler fans were supposed to replace the front panel facing fans?

[perezoso]

P.S. For those that installed the upgrade fan, did you screw in the fan facing downwards towards the floor (if standing up), so that the air is blowing outwards at the ground?

I thought that in the upgrade kit, the new water cooler fans were supposed to replace the front panel facing fans?

Upgrade kit?  What upgrade kit?  I haven't seen one here.

[yuriygeorge]

P.S. For those that installed the upgrade fan, did you screw in the fan facing downwards towards the floor (if standing up), so that the air is blowing outwards at the ground?

I thought that in the upgrade kit, the new water cooler fans were supposed to replace the front panel facing fans?

I don't know where you heard that. The instructions that came with the Baby Jet Upgrade said:

"2.       Mount radiator/fan with the 4 screws provided (I typically use the bottom, middle 12cm fan location)"

I used the bottom, and the way it was arranged, the only way to put it in the bottom was so the radiator grills faced upwards (inside the case) and then spinning fan facing downwards, thus gushing air out through the bottom.

[yuriygeorge]

P.S. For those that installed the upgrade fan, did you screw in the fan facing downwards towards the floor (if standing up), so that the air is blowing outwards at the ground?

I thought that in the upgrade kit, the new water cooler fans were supposed to replace the front panel facing fans?

Upgrade kit?  What upgrade kit?  I haven't seen one here.

This one
http://hashfast.com/shop/baby-jet-upgrade-kit/

[Micky25]

The last time I saw that, it was supposed to be mounted like this:



Is this the same you received? Double fans on the cooler?

May I ask when you ordered/paid?

[cedivad]

We are sending the card today Fedex Overnight 3PM delivery.

I don't really follow that thread a lot, but if it's true, it's interesting.
This should be yet another production line, detached from hf and garret.
Posted from Bitcointa.lk - #7VVglxhap4WGFm7p

[Micky25]

this company is unbelievable. Pure evil. They shit on us on every possible occasion.

[yuriygeorge]

The last time I saw that, it was supposed to be mounted like this:



Is this the same you received? Double fans on the cooler?

May I ask when you ordered/paid?

I only got one fan/radiator with the upgrade. And I believe there's another fan with the original golden nonce. Damn, I guess I did it wrong. Damn instructions said bottom. I'm from Batch 1, real early. Pm me if you want to know specifics.