HashFast announces specs for new ASIC: 400GH/s

[cedivad]

One does not simply walk into a board manufacturing company and say "those... right there.... I want some of those" - VMC produces the boards under license, most folks don't have that license.

Lol, license. Yeah, we have the company, their asses and every asset, but we don't have the license.
Please. Don't waste our posts this way. (In case it wasn't exactly clear, we weren't talking about a run for 10 boards, here).

Edit: https://www.inforuptcy.com/filings/canbke_522575-3-14-bk-30725-hashfast-technologies-llc-bankruptcy seems to be working well for people like me who don't have an us cc to use with pacer. When someone pays for a document subsequent access from other users are free.

Edit 2: what exactly are they going to discuss on Wed if they have to wait for HF to file their chapter 11 the 3rd of the next month? And what will happen after that HF files for that? What's the timeline after that?

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[HardwareReviewer]

Reading through the AMC's thread I think it could very well be AMC/VMC will play a role in HF chapter 11:

- provide funds for the reorganization
- take over the company's lead

Should this go through however, it would be replacing bad for at least equally bad...


@fredthedog
A company totally ignoring customers' requests (let me repeat that: no responses WHATSOEVER) other than taking payments, can not have good intentions, at least not in my eyes.

[bkminer]

I had thought about (trying) to buy a board from VMC but their phone doesn't work, emails to their addresses bounce, online chat fails.  The only thing that works is the mechanism for taking money.

I've spoken to Garrett on the phone (I think) and one of his business partners in person and they seem to be teenagers stuck in manic mode. 

I would seriously love to get my hands on a Yoli board and chip to play with but I wouldn't give Garrett and Co. money without the product being in my hand first.

[perezoso]

Edit 2: what exactly are they going to discuss on Wed if they have to wait for HF to file their chapter 11 the 3rd of the next month? And what will happen after that HF files for that? What's the timeline after that?

Judge wants more specifics on Hashfast's plan.  He wants them in Chapter 11 now (he made that very clear), and he wants to keep a close eye on them since there is cause for concern.  

Hashfast gets more concrete about its filing, says it wants Simon in charge moving forward and to sell chips, and if the judge will wait a few days, they will present a plan (voluntary conversion).  

Creditors say they're not sure about that idea and expect to move for Simon to be replaced.  Creditors are internally divided about what to do with chips, this might or might not be discussed openly.

Creditors will hopefully obtain totally unambiguous affirmation that the Delaware entity(ies) will be placed into the California bankruptcy. (This was not 100% clear to me, listening.)

New hearing a few days later. Maybe Friday.  Or Monday.  Discuss content of Hashfast's plan.

Of course, somebody could pull a rabbit out of their hat (like a nice statement from a former employee?), but that's what's supposed to happen now.

----

Is there anyone out in bitcoinland that has credibility to take the reigns of this company, that everyone would trust?  Or at least trust enough?

Simon could stay as CTO.  In a technical role.  Until the law catches up with him.

[cedivad]

Simon could stay as CTO.  In a technical role.  Until the law catches up with him.

If he is such an evil, we will willingly sabotage everything just for fun...

[perezoso]

Simon could stay as CTO.  In a technical role.  Until the law catches up with him.

If he is such an evil, we will willingly sabotage everything just for fun...

Okay, then fire him, and let him play Donkey Kong until the folks with badges show up.

I assume he would have an interest in doing well, since, as you noted earlier, it's in his interest to stop screwing people and to start getting screwed himself.  What comes around goes around.  Simon would place himself in a position to get screwed a little less if he produced as CTO.  

As CEO?  No fucking way.  If as CTO he produced the magical 16nm chip or the 28nm chip that worked and burned a watt per 50 g/hashes, well, he might win some peoples' forgiveness, assuming that present creditors are dealt into Hashfast 2.0 in some meaningful (and fair) way.

Stick to core competencies.

[btchedge]

No fan of VMC, but if they're real, well then, why not just form a small miners coop, take the chips, and collectively negotiate assembly by VMC (or other bidders, if any) onto boards?

You are failing on me... You don't need VMC, you don't want to have anything to do with VMC, and you probably want to sue the hell out of VMC.
VMC adds exactly zero value to our case. It subtracts it.

You and me and few other guys on this forum are not going to create a viable production line overnight.  It's going to have to be somebody with the capability to do it.  I hate VMC too, but if they are able...  I'd rather have liquidbits, if they are able, but the size of their illegitmate chip claim rules them out.  They'd have to come to Jesus and come to more reasonable terms with the other creditors.

But to be clear, the chip divvying scenario, in my head, is predicated upon the absolute and final death of Hashfast and stripping of the management of any proceeds.

VMC is totally fucking incompetent! They have a track record of total failure and are under investigation for we securities fraud. Ken Slaughter is a fucking embarassment and everyone intelligent knows it.

[armyof1ne]

So hey... can i still gloat? is that cool?

[perezoso]

No fan of VMC, but if they're real, well then, why not just form a small miners coop, take the chips, and collectively negotiate assembly by VMC (or other bidders, if any) onto boards?

You are failing on me... You don't need VMC, you don't want to have anything to do with VMC, and you probably want to sue the hell out of VMC.
VMC adds exactly zero value to our case. It subtracts it.

You and me and few other guys on this forum are not going to create a viable production line overnight.  It's going to have to be somebody with the capability to do it.  I hate VMC too, but if they are able...  I'd rather have liquidbits, if they are able, but the size of their illegitmate chip claim rules them out.  They'd have to come to Jesus and come to more reasonable terms with the other creditors.

But to be clear, the chip divvying scenario, in my head, is predicated upon the absolute and final death of Hashfast and stripping of the management of any proceeds.

VMC is totally fucking incompetent! They have a track record of total failure and are under investigation for we securities fraud. Ken Slaughter is a fucking embarassment and everyone intelligent knows it.

Please read further before replying.

So hey... can i still gloat? is that cool?

Gloat about what?  Being an idiot?

[aasl]

The Harassment Needs to Stop

This is Amy Abascal and I have stayed quiet, but I am here asking you to get this under control.  I joined HashFast and was only there for 6 1/2 weeks.  While I was there, I did absolutely everything in my power to get the company on track and to advocate for the customers.  There are many of you whom I spoke with and traded emails personally.  Look at my background.  I had a thriving career until March.  Last week, I got laid off and frankly, that was the best thing that could happen to me.

Since I left, my facebook and twitter accounts have been hammered with personal attacks and accusations. 

You are attacking the wrong person.  I regret the day I ever heard the word HashFast.  I own no coin.  I have no mining operation.  I am not running hardware that other people bought in my closet (or any hardware at all for that matter). 

I have avoided blocking people because I believe in honest, transparent communication - which you can see evidenced by how I directed communication the short time I was at HashFast.  I understand why this community is outraged and it has every right to be.  Hell, I'm outraged too.  However, the constant messages to my personal accounts are misdirected and just adding to this massive clusterf*ck.

If you are angry, I would recommend using rational ways to approach the problem.  That does not include personal harassment.

Amy, I am sorry for the harassment to you from some ppl. We did see there is some changes since you joined HF, you acknowledged the HF problem and refocused on ASIC, and you are active on social networks. I felt happy for HF because they finally started to communicate with the customers... but, soon I heard that you were laid off, and then everything in HF went quiet again. I can feel that you have done what you could for HF, and because of your refusal to keep quiet making these harassment from pissed-off HF customers directly pointing to you. I am sincerely sorry for this.

Most of us in this discussion used to believe in HF, we trusted HF and therefore we chose to invest. However, sitting on all the trust and fund received, HF only did one thing: to keep quiet. This is how HF turned its believers into enemies!

Dear Amy, if only HF could talk to us, if only HF provided a tiny channel to communicate, the wrong accusations should not be put on you.

Hashfast, refund us and keep daydreaming with your ASICs!

[Bicknellski]

Here is how you should proceed.

Open your minds up to any all opportunities to push out working boards or flood the market with a large number of chips at lower than market rate. Seek guidance and support so that you can build a team that can push those chips into working miners.

You can't seriously be deciding what is best here in this forum. You actually have to have all the parties in one room and be open to the idea of finding that solution where the chips are made into miners with compromise being the operative word. Failing an agreement you are left with diving up everything including the IP to pay back creditors.

If I were a creditor I would look at taking shares in HF as part payment if there was a solid team and investors in place moving forward. Out of this though you obviously need to get rid of the malignant parts that caused this debacle. We know who they are and that decision making power needs to be permanently removed from their hands moving forward as soon as you have a viable entity if that is you want HF to continue.

[armyof1ne]

No fan of VMC, but if they're real, well then, why not just form a small miners coop, take the chips, and collectively negotiate assembly by VMC (or other bidders, if any) onto boards?

You are failing on me... You don't need VMC, you don't want to have anything to do with VMC, and you probably want to sue the hell out of VMC.
VMC adds exactly zero value to our case. It subtracts it.

You and me and few other guys on this forum are not going to create a viable production line overnight.  It's going to have to be somebody with the capability to do it.  I hate VMC too, but if they are able...  I'd rather have liquidbits, if they are able, but the size of their illegitmate chip claim rules them out.  They'd have to come to Jesus and come to more reasonable terms with the other creditors.

But to be clear, the chip divvying scenario, in my head, is predicated upon the absolute and final death of Hashfast and stripping of the management of any proceeds.

VMC is totally fucking incompetent! They have a track record of total failure and are under investigation for we securities fraud. Ken Slaughter is a fucking embarassment and everyone intelligent knows it.

Please read further before replying.

So hey... can i still gloat? is that cool?

Gloat about what?  Being an idiot?

actually being proven right, and you arguing with me calling me a shill the whole time shows that you have no right to speak, you are a complete fucking tard and should feel bad... but i doubt you will because you are too arrogant to admit your mistakes. Would you like to take a trip down memory lane?

[armyof1ne]

Vindication is so sweet, especially when peoples own words are used against them... you have attacked and done nothing but say my word is worthless, and lo and behold, you were 100% absolutely wrong... i think an apology is in order, once again, i don't expect much from the likes of you

[btchedge]

Here is how you should proceed.

Open your minds up to any all opportunities to push out working boards or flood the market with a large number of chips at lower than market rate. Seek guidance and support so that you can build a team that can push those chips into working miners.

You can't seriously be deciding what is best here in this forum. You actually have to have all the parties in one room and be open to the idea of finding that solution where the chips are made into miners with compromise being the operative word. Failing an agreement you are left with diving up everything including the IP to pay back creditors.

If I were a creditor I would look at taking shares in HF as part payment if there was a solid team and investors in place moving forward. Out of this though you obviously need to get rid of the malignant parts that caused this debacle. We know who they are and that decision making power needs to be permanently removed their hands moving forward as soon as you have a viable entity if that is you want HF to continue.

I concur with your advice that everyone keep an open mind. Further I would recommend not drawing conclusions about the intent of other parties, and instead reserve judgement for their actions and formal proposals that will be part of the formal proceedings. Thankfully this forum is NOT where the resolution will take place.

Finally, in response to all the comments about how difficult it would be for production to be ramped up, I beg to differ. There are capable parties who have the resources and knowledge to ramp up production ASAP who probably don't even need Simon except for some short period to facilitate knowledge transfer.

[perezoso]

Here is how you should proceed.

Open your minds up to any all opportunities to push out working boards or flood the market with a large number of chips at lower than market rate. Seek guidance and support so that you can build a team that can push those chips into working miners.

You can't seriously be deciding what is best here in this forum. You actually have to have all the parties in one room and be open to the idea of finding that solution where the chips are made into miners with compromise being the operative word. Failing an agreement you are left with diving up everything including the IP to pay back creditors.

If I were a creditor I would look at taking shares in HF as part payment if there was a solid team and investors in place moving forward. Out of this though you obviously need to get rid of the malignant parts that caused this debacle. We know who they are and that decision making power needs to be permanently removed their hands moving forward as soon as you have a viable entity if that is you want HF to continue.

Bicknellski, I know you have enemies in bitcoinland related to disputes I have no knowledge of, and those people will complain about my saying this, but I think this is good advice.  

But we're sort of the peanut gallery here.  We who post here are mainly small creditors and we have a voice, but there are bigger fish than us, who have their own guidance. Maybe some of us will get into that room, but our power in some senses is, in actuality and at this point, this board.

We may need a little more investigation to fully suss out the malignant parts.

/end serious discussion

/begin troll management

On the village idiot:

Gloat about what?  Being an idiot?

actually being proven right, and you arguing with me calling me a shill the whole time shows that you have no right to speak, you are a complete fucking tard and should feel bad... but i doubt you will because you are too arrogant to admit your mistakes. Would you like to take a trip down memory lane?

Yes, show me, you moron from hell.  I can't make up for lack of education and inability to think critically - or, well, even an inability to read. Continually giving you the benefit of the doubt, I can maybe suggest a more productive path. But you are not allowed to characterize my statements with your own impotent brain.  You must quote them with appropriate context.  Take a stroll?  Sure. But please keep it in PMs.  I don't think there's much stomach for a public re-rendition.

[minternj]

These buffoons breached fiduciary duty long ago. There comes a time when you should stop taking order when you know you totally fucked up and can't fulfill orders. Its called fraud.

This needs to move out of civil court to criminal posthaste.

[cedivad]

I agree that the forum is not the correct venue to discuss the reorganisation... Or liquidation. But I want to try my best anyway, while I don't feel like a little creditor at all, I'm not in the high end circle, so while I would like to help, I'm actually useless.
At least spamming the oblivious here I can make sure that people read it... At least that's the plan.

[Bicknellski]

I agree that the forum is not the correct venue to discuss the reorganisation... Or liquidation. But I want to try my best anyway, while I don't feel like a little creditor at all, I'm not in the high end circle, so while I would like to help, I'm actually useless.
At least spamming the oblivious here I can make sure that people read it... At least that's the plan.

Unfortunately that is the way of the biggest "group" or "individual" investor has the biggest say world we live in.

To be honest each creditor no matter the size should have equal representation and the decisions made should reflect the consensus not the will of the largest parties contesting this. Anything you post Cedivad or other "small" creditors post should be heard and should be valued equally with the other views. That would be the ideal situation and ultimately would lead I think to the best outcome for all even for the debtor. If they had only been listening to you and the other small buyers at the beginning this might never have happened. My point about posting here is that I doubt that it will be heard by the court.

[raskul]

I agree that the forum is not the correct venue to discuss the reorganisation... Or liquidation. But I want to try my best anyway, while I don't feel like a little creditor at all, I'm not in the high end circle, so while I would like to help, I'm actually useless.
At least spamming the oblivious here I can make sure that people read it... At least that's the plan.

Unfortunately that is the way of the biggest investor has the biggest say world we live in.

To be honest each creditor no matter the size should have equal representation and the decisions made should reflect the consensus not the will of the largest parties contesting this. Anything you post Cedivad or other "small" creditors post should be heard and should be valued equally with the other views. That would be the ideal situation.

unfortunately Cedivad wouldn't know anyway, as he has a tendency to be over-zealous with his ignore button.
I can only presume he couldn't give a toss about anyone else's lost cash, only his own - otherwise i'd be more active in this (Cedivad's adopted) thread.

[Transisto]

I agree that the forum is not the correct venue to discuss the reorganisation... Or liquidation. But I want to try my best anyway, while I don't feel like a little creditor at all, I'm not in the high end circle, so while I would like to help, I'm actually useless.
At least spamming the oblivious here I can make sure that people read it... At least that's the plan.

Greatly appreciated BTW !