HashFast announces specs for new ASIC: 400GH/s

[perezoso]

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

The path to Hell is paved with Kalifornia Kool-Aid drinker-authored publications.

The ASICS work, that's true.  There's still absolutely no remotely just or viable plan to make good on Hashfast's huge debt to its early customers.  

That would be doing the "right thing", Amy, to make good on pledges violated. Put your actions where your mouth is.  

We've seen a procession of bullshit testimonials to Hashfast's good intentions on this board and elsewhere.  To a person, these were people that Eddie gave money and/or equipment to. (You fall into the former category.)  Eddie is such a {sarcasm} sophisticated {/sarcasm} operator.  He can apparently smell his own kind: greedy.  "Gaydar" of a different sort. Anyway, Eddie has a knack for finding people who will say whatever in return for some often trivial benefit.

Why should we think your words any different than a cycle of lies going back nearly a year now?

Show us with concrete actions.

Maybe if HashFast did the "right thing" more often, or at all, then you wouldn't have the lawsuits that "set you back".


PS:  I have a hard time believing that you don't hold BTC considering the language of your Miner Protection Program (TM) (MPP), and other statements about refunds in BTC.

[perezoso]

I wanna follow specifically on this one too:

On the HF website, Amy writes that "I think our former policy on keeping quiet, definitely fueled those flames."  

Excuse me, but Hashfast did not keep quiet.  It sent paid proxies, trolls and "Hashfast_CL" onto this forum, and it insulted its customers and pretty much all of humanity.  It showed off the single demo box in Austin. In doing so, it tried to poke fun at Cointerra, another imperfect company but one that kicked your ass from one side of the field to another. Talk about misplaced arrogance!   Texas 10 - California 0. You did nothing more than prove Hashfast's unworthiness.

And you definitely did not keep quiet with potential customers.  You replied multiple times within hours to their e-mails, while ignoring those of your existing customers with unfilled orders.

No, Hashfast did not keep quiet.  What it did was to ignore all the important questions and concerns of its customers, and still tout its bullshit, like the Austin show and Hashfast_CL.  And with people who make torture and waterboarding porn in charge!  

Where your management belongs is jail.  I don't believe they have wanted to do the right thing.

[cedivad]

http://arstechnica.com/business/2014/05/bitcoin-miner-maker-fires-half-its-staff-declares-were-not-scammers/

[Jutarul]

http://arstechnica.com/business/2014/05/bitcoin-miner-maker-fires-half-its-staff-declares-were-not-scammers/

When Ars pointed out Barber’s clear-cut statement, Abascal countered: “The reality is that what the CTO said, is that he didn’t say that there wouldn’t be a conversion.”
...
“The bottom line is that we didn’t sell them in bitcoins: but if someone wanted to buy in Bitcoin, the refund should also be realized is whatever the conversion at the time of the refund of that currency in US dollars would be,” Russell said, dismissing those seeking Bitcoin-based refunds as looking for a “windfall.”

Windfall profit discussions are a distraction of the real issue. People bought miners - the company owes lost earnings (which is #bitcoins not mined).

To add a little bit of flavor to the above interpretation of Abascal, those "lost earnings" may now be denominated in US Dollars by their own definition. A baby jet delivered in time would have yielded close to 17k (https://filetea.me/t1suLNcoKh0SrO8LwZgZrtWlA), which currently is close to 38 bitcoins. The lost yield in terms of bitcoins is 29. What do you want HashFast? You can't have it both ways - dollars or bitcoin.

Sorry HashFast, you botched this. Your attempt to cherry pick will ultimately lead you to more inconsistencies. You failed to pursue a clear refund strategy from the beginning and you did a money grab by telling customers all these sweet lies. This is now coming back to haunt you and the evidence for consequential fraud is mounting up.

Apart from the exact profit calculation, the moral hazard you as a company created is mind blowing. For that alone the people in charge should deserve more than just civil penalties.

[minternj]

Q - Why are Hashfast scammers?

A- Because they scammed us. Simple as that. Flat out lied to us at every step. Abandoned and alienated the early customers who also happen to be some of the biggest Bitcoin enthusiasts.

[raskul]

Q - Why are Hashfast scammers?

A- Because they scammed us. Simple as that. Flat out lied to us at every step. Abandoned and alienated the early customers who also happen to be some of the biggest Bitcoin enthusiasts.

it's true.

[cedivad]

Expect even more drama during the weekend

https://twitter.com/cfarivar/status/464788506909618177

[perezoso]

I don't hold it against you, but you guys after BTC refunds have all of Cyrus' attention.

Sure hope he asked them about the MPP too.  Lots of silence on that.

Also, wonder who got canned.  Joe the Engineer?  The "other" Amy? 

[itod]

I wanna follow specifically on this one too:

On the HF website, Amy writes that "I think our former policy on keeping quiet, definitely fueled those flames."  

Excuse me, but Hashfast did not keep quiet.  It sent paid proxies, trolls and "Hashfast_CL" onto this forum, and it insulted its customers and pretty much all of humanity.  It showed off the single demo box in Austin. In doing so, it tried to poke fun at Cointerra, another imperfect company but one that kicked your ass from one side of the field to another. Talk about misplaced arrogance!   Texas 10 - California 0. You did nothing more than prove Hashfast's unworthiness.

Exactly. Claiming we should be happy with the US$ refunds, and that they never promised BTC refunds was adding insult to the injury. We are not idiots (which some cynics may claim is debatable), and treating us like ones was not PR move, it was plain abuse, which had only one aim: to attract new customers over our dead bodies. That was unacceptable, that was the move that permanently shuttered HF reputation. If they only stayed quiet and refunded as many customers as much as they could, they would have some chance not to be forever marked as scammers in BTC community. We would be financially injured, but not insulted. Now I doubt there is a single batch #1 customer who doesn't take it as a personal goal to hurt this bastards as much as he can.

I doubt they would be any better if they shut up right now, and instead of writing these blog posts try to refund as much as they can. It is probably too late, but at least they would have some chance. Unfortunately for us, they don't seem to be willing to take the logical and harder path, it's much easier to write bullshit on their blog and pray that all would turn OK somehow. Well, it will not.

[solarion]

bs blogs are much cheaper than giving victims their money back.

[bkminer]

So ScamFast said email chips@hashfast.com if you want to convert to chips, today they announced a partnership with pepper mining.

I emailed chips@hashfast.com asking how many chips I could get and this was what came back from google groups email....

We're writing to let you know that the group you tried to contact (chips) may not exist, or you may not have permission to post messages to the group. A few more details on why you weren't able to post:

* You might have spelled or formatted the group name incorrectly.
* The owner of the group may have removed this group.
* You may need to join the group before receiving permission to post.
* This group may not be open to posting.

Can they be that stupid? or is this just another ploy?  

Edit: just found this on their website....

The HashFast Golden Nonce Chip is available to ship immediately and boasts hash rates over 750 GH/s with best-in-class power consumption.

Shipping now? From HashFast does that mean shipping in 2018?

Edit #2:

I tweeted about the mail issues and Amy A. answered on twitter without 15 minutes and said to email her address amya@hashfast.com

[pmorici]

So ScamFast said email chips@hashfast.com if you want to convert to chips, today they announced a partnership with pepper mining.

I emailed chips@hashfast.com asking how many chips I could get and this was what came back from google groups email....

We're writing to let you know that the group you tried to contact (chips) may not exist, or you may not have permission to post messages to the group. A few more details on why you weren't able to post:

* You might have spelled or formatted the group name incorrectly.
* The owner of the group may have removed this group.
* You may need to join the group before receiving permission to post.
* This group may not be open to posting.

Can they be that stupid? or is this just another ploy? 

They are probably using Google apps for business and didn't check the option, "Also allow anyone on the Internet to post messages" when they setup the group alias.  Par for the course, they don't know how to operate their email software and/or didn't bother to test that it was setup right.

[bkminer]

Well to update, Amy Abascal has emailed me asking how she can help.  Chips would still cause a delay because now I would have to wait for Pepper's batch 2 to get a board, but I guess if they offer me a ton of chips it might be worth something.

I guess we will see...

[Minor Miner]

Well to update, Amy Abascal has emailed me asking how she can help.  Chips would still cause a delay because now I would have to wait for Pepper's batch 2 to get a board, but I guess if they offer me a ton of chips it might be worth something.
I guess we will see...

How can you trust what they say?
They claim to only have chips but no money.   Yet they received more than enough money to buy the chips, power supplies, boards, cooling and assembly AND make a large profit.   So where did all the money go?    who took it?

[dhenson]

They still have 3000 btc (at least).

https://blockchain.info/address/1KFrqkEGy6Yq7X4SYCbYoj8HEwfbWVUDJ9

[Minor Miner]

They still have 3000 btc (at least).
https://blockchain.info/address/1KFrqkEGy6Yq7X4SYCbYoj8HEwfbWVUDJ9

I am sure the court appointed receiver will be very interested to see the "professional" CFO present all the 1099s, and W9s that are required by law for transactions of over $600 per year.   Considering this is over 1.3 Million right now, I am sure all the federal agencies will want to make sure this is a legitimate transaction where ALL parties reported it properly and no money laundering happened.   Since we have been assured by HF in the last couple days that NOTHING out of the norm has happened there, they should welcome the detailed spotlight that will be put on every transaction they did.
I, for one, cannot wait to see exactly where all the money went and exactly how it was recorded by EVERY party to the transaction.

[cedivad]

Anyway. For full disclosure, since that I feel guilty every day I don't make this post:

After having tried to talk with them for months, I was able to finally do so exactly one week ago, during a two hours long Skype call. They offered me chips, they talked about their reasons for the delays (the fault is only of the board designer, the ASIC was right on time for October shipping, that was anyway anticipated only), about how having their cash locked in assets is delaying the shipments, how they spent new years eve writing checks to refund customers (that were cashed out in a measure that is way bigger than the $40k written by their lawyers), etc.

Nothing useful came out of that call or the subsequent emails. It was however certainly positive to finally hear their positions after almost a 6 months convenience shutdown and a 20x difficulty jump. (shutdown that again, was dictated by their lawyers, it wasn't a decision of theirs).

About the 2999 BTC address, Simon "investigated" it and discovered that it was used to pay a supplier of theirs. What's interesting about the 1 BTC outgoing transaction is that it ends up in a Bitstamp address. I'm not sure of the reason behind that, I've speculated since the beginning of it being a planned decision, however Bitstamp now has a name on that account. It will have to match the supplier's name.

I've asked them about making this post during the call and no objection was raised. They asked not to talk about some numbers, and I've left them out.  I support Minor Miner's odyssey and while I'm afraid it somehow won't happen, I would really love to see their books.  Lastly, I'm disgusted by the timing and content of their marketing campaign but I really appreciate them locking in into even more contradictory statements.
Posted from Bitcointa.lk - #LnssnU1AZnzhOOx3

[pmorici]

they talked about their reasons for the delays (the fault is only of the board designer, the ASIC was right on time for October shipping

So how do they explain the photo they posted and blogged about of their CEO receiving the first chip delivery on November 12th 2013?

https://bitcointalk.org/index.php?topic=262052.msg3563797#msg3563797

[cedivad]

I asked them about that, quoting that date. They answered that they actually had the wafers in hand the 28th of October (Edward said so, asking for a confirmation to Simon in the meanwhile) (they might have said 29th, unsure). They added that they also asked TSMC to stop the rush they imposed on their order, since that the board design was late and there was no point in rushing the ASIC anymore.

[pmorici]

Looks like they forgot to renew their domain registration for hashfast.com it is currently redirecting to a GoDaddy page that says...

"NOTICE: This domain name expired on 5/9/2014 and is pending renewal or deletion."