HashFast announces specs for new ASIC: 400GH/s

[Syke]

https://twitter.com/HashFast/status/463457525598138368

Update! Order 1980 went out today. More going tomorrow.

Stop the presses! They shipped an order!

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[yxt]

hashfast.org is in german media 

[BeepBeep2]

News http://hashfast.com/hashfast-refocuses/

lol and now? should i put my asic ship in a box and hope it starts hashing or what?

Don't you know you're supposed to BYOPCB? Bring your own PCB.

[SolarSilver]

News http://hashfast.com/hashfast-refocuses/

lol and now? should i put my asic ship in a box and hope it starts hashing or what?

They are going to ship their chips to 3rd parties who then take the risk of getting working boards on time, all the parts they failed at for the last 6 (six) months.

The total reduction was 50% of the current staff.
This was a fiscally responsible way for us to slow our burn rate, get customers hashing, and continue developing amazing technology

So by having less staff, they will be able to get your orders out quicker.

[Phinnaeus Gage]

News http://hashfast.com/hashfast-refocuses/

lol and now? should i put my asic ship in a box and hope it starts hashing or what?

They are going to ship their chips to 3rd parties who then take the risk of getting working boards on time, all the parts they failed at for the last 6 (six) months.

The total reduction was 50% of the current staff.
This was a fiscally responsible way for us to slow our burn rate, get customers hashing, and continue developing amazing technology

So by having less staff, they will be able to get your orders out quicker.

What part of HashFast don't you understand? 50% of HashFast is either Hash or Fast. Which half do you prefer? BTW, you probably did pay for the upgrade to get both.

[CryptKeeper]

With all the refunds they have to pay, there will be a lot of naked asic chips in the wild soon.

So now we need someone to manufacture and sell the PCBs! Is the PCB layout available for free? Maybe a chinese manufacturer can assemble them! But it must be quick, before the chip's hashrate will be outdated!  

[SolarSilver]

What part of HashFast don't you understand? 50% of HashFast is either Hash or Fast. Which half do you prefer? BTW, you probably did pay for the upgrade to get both.

You mean the BabyJet upgrade kits I've paid for that still have not arrived? It's neither Fast nor Hashing

[raskul]

What part of HashFast don't you understand? 50% of HashFast is either Hash or Fast. Which half do you prefer? BTW, you probably did pay for the upgrade to get both.

You mean the BabyJet upgrade kits I've paid for that still have not arrived? It's neither Fast nor Hashing

this. all customers and refunds need to be made good, now.

[ninjarobot]

First honest post from HF in a while... I imagine the new CFO's jaw dropped to the floor the first time she took a look at HashFast books and knew they had to make some tough and immediate changes. I imagine the company is struggling to survive at this point so this pivot makes a lot of sense for HF.

What it means for customers is unclear. I imagine there will be a number of 3rd party PCB producers competing to produce boards for customers. Also how does this affect the MPP conversion and shipping 'schedule'? If HF drops the ball again it is game over.

[pmorici]

News http://hashfast.com/hashfast-refocuses/

"We have been converting existing system and board orders, even those who have requested a refund or sought legal action, to ASICs orders."



They fired half of their staff and hired someone who knows how to manage money.  They also appear to be going back to their core competency "Bitcoin ASIC technology".  What have they been focusing on? Partying and trolling their customer base?

So in late Oct. 2013, when they were supposed to deliver, difficulty was at 400 Million.  It is now 8 Billion a 2000% increase and to add insult to injury they are going to make people go through the work and expense of sourcing their own board, PSU, and cooling system?  I mean roughly speaking they would need to 'convert' every early BabyJet order to something like 30+ raw chips for this to be a fair deal for customers.  Given that they didn't make any mention of what their actual conversion math is I don't see how this isn't just another way for them to give people the run around while they avoid having to refund their ill gotten profits.

[MrTeal]

Not to inflame the thread here, since I really don't agree with the forced conversions, but if you do find yourself with a bunch of chips from HashFast and want to get boards made we might be able to help you out. Fire us an email at peppermining@gmail.com and we can talk about it.

[Legend21]

I know a guy that have order 2400# sierra and have receive a e-mail that they will ship next week his sierra..

I am order 29XX, and have ask for a refund. still no refund.

[dentro]

Not to inflame the thread here, since I really don't agree with the forced conversions, but if you do find yourself with a bunch of chips from HashFast and want to get boards made we might be able to help you out. Fire us an email at peppermining@gmail.com and we can talk about it.

Already wrote you a PM

[cedivad]

http://hashfast.com/on-why-were-not-scammers/

[solarion]

http://hashfast.com/on-why-were-not-scammers/

Amy seems nice enough, but that's a load of grade A horseshit. If they were honestly trying and just sucked/failed at nearly everything then why the information blackout for weeks at a time? There's a right way and a wrong way to handle setbacks, these jerkwaters have chosen the wrong way every single time and now that there are multiple suits and the authorities are snooping around they're suddenly SO VERY SORRY. There was no way they were ever going to ship in 2013, it was all just a bunch of lies.

On Why We’re Not Scammers

Posted on 05/08/201405/08/2014 by Amy Abascal

I joined this company, a month ago, with full knowledge of the challenges HashFast was facing.  I joined because the technology blew my mind and the team was amazing. 
I think it’s time to publicly address the notion that HashFast scammed our customers.  Let me tell you that nobody is lying on the beach sipping Mai Tais with your money. While that would make for a great Wolf of Wall Street type feature film, it’s simply not the reality.

“So, what the hell is going on over there?” is probably what you’re asking.  That’s a reasonable question.

We pre-sold mining systems.  Based on the immediate demand for our systems, we took those funds and invested in inventory to satisfy that demand, specifically on ASICs.  We built out our first board.  We told you that story.  That first board was a dud.  We just plain out haven’t recovered.

Our cash is tied up in inventory, but we have finally been able to begin regularly shipping again.  It’s true that we are struggling, but we are struggling to do the right thing.  As we turn our focus to chip sales, we will free up more cash to ship more systems and process more refunds.  Each lawsuit sets us back, though.

I also want to clear up the notion that we are self-mining.  The only mining we do internally is running engineering boards and the prototype box. Perhaps if we had been self-mining all along, we’d be in better financial shape.  We also do not hold BTC balances.

The reality remains that we have the fastest Bitcoin mining ASIC in the world.  Not only that, but we have two chips in development which are going to scream.

I joined this company, a month ago, with full knowledge of the challenges HashFast was facing.  I joined because the technology blew my mind and the team was amazing.  I have every reason to believe that we will pull through this and get back on track.  I know that to the outside, it looks like we’ve been unethical.  I think our former policy on keeping quiet, definitely fueled those flames.  While the situation has not been ideal, HashFast did not scam our customers.  If that were true, I would not be working here.

I will continue to post updates on shipping and internal company developments, both good and bad.

Amy Abascal

[pmorici]

http://hashfast.com/on-why-were-not-scammers/

    What a bunch of baloney, I know in my case and probably all the other cases that the individuals and their lawyers tried to reach out and resolve the situation for weeks and months prior to the lawsuits being filed.  The fact that Hashfast is being sued is their fault and their fault alone.

[dropt]

http://hashfast.com/on-why-were-not-scammers/

"That first board was a dud"

That's not what HF was heralding at the time.

"We also do not hold BTC balances."

I wonder then, on who's BTC Wallet/address did that judge place the TRO?

[Minor Miner]

http://hashfast.com/on-why-were-not-scammers/

"That first board was a dud"
That's not what HF was heralding at the time.
"We also do not hold BTC balances."
I wonder then, on who's BTC Wallet/address did that judge place the TRO?

This is why I think it is everyone's interests for a court appointed receiver to go over the books with a fine tooth comb and then liquidate the assets and pay back the people who are owed money.   If there is no fraud, nor investor payments, nor any payments to directors or family everything will be fine.   If there is, it will be taken back and given to the people that it actually belongs to.

[Syke]

On Why We’re Not Scammers
the team was amazing. 
...
That first board was a dud.  We just plain out haven’t recovered.

Amazing teams don't produce duds. Your first board isn't just a dud, your whole team is.

[dropt]

On Why We’re Not Scammers
the team was amazing. 
...
That first board was a dud.  We just plain out haven’t recovered.

Amazing teams don't produce duds. Your first board isn't just a dud, your whole team is.

Can't think of an event where a single bad PCB revision tanked a companies progress for months on end.