HashFast announces specs for new ASIC: 400GH/s

[Gyrsur]

At the end of the day whether the claim is for $6000 or something like $4250, I doubt that makes much difference.  The point is just maybe we could agree on a reasonable method for calculating it.  Thinking about it, I kind of like the Cost - Actual BTC mined in MPP period = Claim formula better than $6000.  I may amend my court claim.  I just don't know if I can accurately reconstruct the exact BTC value the BJ generated in the specified period.

This might help:
http://retrocalc.net/

calculation of this tool is too optimistic. never got this high return in real life.

[Ilan1]

Hi does anyone know the URL for the online court file? Ray Gallo said that the court clerk puts filed creditor correspondence into this file, which is available online, and items filed get emailed to lawyers on the case with accounts, and those who have filed requests for notice.

[pmorici]

Hi does anyone know the URL for the online court file? Ray Gallo said that the court clerk puts filed creditor correspondence into this file, which is available online, and items filed get emailed to lawyers on the case with accounts, and those who have filed requests for notice.

You need to sign up for an account with Pacer.  Once you have that you can login to Pacer and go to the Query page for the Bankruptcy court for Northern California.

Search for 'Hashfast' or the main case number, 3:14-bk-30725

That will take you to a screen with a bunch of links the two most interesting are the "History/Documents" link that has all the filings from lawyers and the audio files of the hearings (as attachments to PDFs).  There is also the "Claims Register" section that has all the proof of claim forms everyone is sending in.

[Ilan1]

Hi does anyone know the URL for the online court file? Ray Gallo said that the court clerk puts filed creditor correspondence into this file, which is available online, and items filed get emailed to lawyers on the case with accounts, and those who have filed requests for notice.

You need to sign up for an account with Pacer.  Once you have that you can login to Pacer and go to the Query page for the Bankruptcy court for Northern California.

Search for 'Hashfast' or the main case number, 3:14-bk-30725

That will take you to a screen with a bunch of links the two most interesting are "History/Documents" link that has all the filings from lawyers and the audio files of the hearings (as attachments to PDFs).  There is also the "Claims Register" section that has all the proof of claim forms everyone is sending in.

Thank you very much for your help and advice on this.

[digitalbrass]

so im trying to use https://ecf.canb.uscourts.gov/cgi-bin/autoFilingClaims.pl  to file my claim like suggested, (i got my claim in the mail about 2-3 weeks ago)

and I was trying to attach a copy of the refund letter from hashfast as a pdf but it wouldnt upload correctly, it kept failing. So I completed my claim w/out the pdf. Does this matter at all?

Like someone above i claimed 2644$ for one babyjet... My name showed up on the site and everything. So will it effect the outcome of me being compensated or will we all be compensated as long as our claim is filed and name on the list of creditors?

[Jutarul]

I think it is obvious that they don't want to sell the chips before they're worthless. The question is what kind of weird game they're playing. Maybe they just need time to hide the tracks.

They are already worthless, and you should know better than everyone else. They had almost 6 months to hide tracks, and they have already proved that they are unable to come up with a working cover story (because there can't be one, not because they didn't tried), so how much more time do they need? Are they waiting for a miracle?

The value of the chips since the initiation of the bankruptcy decreased from about $16 million to $4 million. This means that the failure of HashFast management to cooperate with their creditors on that important issue has cost the company about another $12 million. I think their target is to make sure the value depreciates below $1 million to compromise the funds available for litigation efforts. This is in line with a scourged earth strategy which was mentioned through various unofficial channels. However, this implies that there are hidden resources which need to be protected. Draw your own conclusions.

[allinvain]

So I filed my claim with the Office of the Clerk via expedited mail but I have yet to see my name in the creditors matrix. Is this matrix even updated or do I have to have a Pacer account to view an updated version. Will they mail me back a response confirming that my claim has been accepted. Anyone with experience care to share with me some guidance?

Thanks!

[cedivad]

Draw your own conclusions.

We need a penal case to have a chance to recover that money. (thinking about VMC reselling HF batch 1 boards, they should have rather sinked them in the ocean since that the goal was to make space for their new evo boards).

[digitalbrass]

I agree, If I do not recieve 100% of my inital investment I would like to see simon barber and his team do time in jail.

[cedivad]

I agree, If I do not recieve 100% of my inital investment I would like to see simon barber and his team do time in jail.

Old but still valid:

Problem is actually raising the problem to the relevant authority, one case came close and was dismissed. To the point hashfast then boasted about it on their site, twitter and Facebook.
Legally wise they could be sitting on this datacenter without anyone knowing, raking in the money and when the time comes it will amount to a small fee that they can pay off with the equipment that we bought last year and they know this.
The justice system just seems to slow and nothing seems to be progressing with hashfast.
What we need to find out is what will it take to get hashfast to get their act together. They have no chance with credibility anymore but they do need to sort out what is actually going on.
7 more days until another failed delivery!

The case was not dismissed, a lawyer just replied to a criminal agency's inquiry.    If you write to the AG and detail out your experience (and it is similar to others) where representatives of HashFast lied to induce your purchase (ie.  they gave you a solid delivery date that the AG can prove was impossible) then it is fraud.    They are now selling the chips that pre-orders paid for and not providing refunds.   that can be considered fraud too.   Include where you made the payment so the AG can demand that HF provide proof of where you money went after it was sent.   
AND MOST IMPORTANTLY, you have NAMES to address your complaint at the AG's office to.    The lawyers that sent the first inquiry were:

Public Inquiry Unit, Attention: Kimberly Christophersen, Lupe Zinzun, J. Bryan

These people are already familiar with HF and their lawyer's response so when more complaints come in telling a similar story, they will realize this is fraud and will push harder.

[digitalbrass]

I filed my claim but wasnt able to attach the pdf of my hashfund reciept email, I filed my claim for 2644$, will not attaching the pdf effect my refund?

[stan258]

 Has anybody looked into taking this to an Annuities Attorney? They would be going after personal assets for recovery based on wages and bonus taken if this falls into a Ponzi scheme plus punitive damages.  HF wishes to still draw administrative expenses with no income in this case is not right.  Nothing about this company has been right since the nice lady confirmed my wire transfer to their account.   

[ngc1952tau]

So I filed my claim with the Office of the Clerk via expedited mail but I have yet to see my name in the creditors matrix. Is this matrix even updated or do I have to have a Pacer account to view an updated version. Will they mail me back a response confirming that my claim has been accepted. Anyone with experience care to share with me some guidance?

Thanks!

I wasn't on the original creditors matrix. I filed a claim recently and haven't received any correspondence about it yet, but on Pacer I can see that I am now included in the "list of creditors".

It costs money to see but according to the Pacer FAQ, if your total Pacer costs for the quarter are less than $15 you won't be charged.

[cedivad]

It costs money to see but according to the Pacer FAQ, if your total Pacer costs for the quarter are less than $15 you won't be charged.

And if you used inforuptcy, where I'm already paying for almost everything, reading would be free.

[pmorici]

Has anybody looked into taking this to an Annuities Attorney? They would be going after personal assets for recovery based on wages and bonus taken if this falls into a Ponzi scheme plus punitive damages.  HF wishes to still draw administrative expenses with no income in this case is not right.  Nothing about this company has been right since the nice lady confirmed my wire transfer to their account.   

These things will be addressed as part of the bankruptcy process.

[perezoso]

Back to this question about the MPP.  I think there are three different cases, with possibly three different valuations.  Maybe more.

The basic three are:

1) People who bought Batch 1 BJs and then were "given" the MPP after purchase.

2) People who bought Batch 1 BJs after the MPP was included as an integral part of the purchase.  (=me, very few of us, maybe a dozen people, less who still care?)

3) People who bought Batch 2 BJs and paid extra for the MPP.


My thoughts:

In case #1, I don't have an answer for the value of the MPP.  I'm not sure what it is, but I think it is something.

In case #2, perhaps:  Purchase price minus BTC mined during the MPP calculation period equals amount of claim.  (= ~$4000 per BJ)

In case #3, assuming the BJ was delivered, then it's probably the amount extra that was paid for the MPP.


There are some tricky bits to this when it comes to considering BTC versus USD payments and value of the claim.  

And sorry, but this business about the MPP not having any value because of the lack of a specific delivery date doesn't make sense and can't be reconciled with the return promise of the MPP itself.  Correct, there was no date specified; but there is a date indicated by the promise of getting back to ROI.  That's the date at which the amount of hashpower provided under the MPP would achieve that result.  That was pledged. That date came and went months ago, obviously, without HF delivering.

In retrospect, it seems like a stupid promise to have made, and to have relied upon. But that's the deal that was offered and accepted.

It's pretty much academic, I suppose, at this date.  The general sentiment I agree with is that this needs to go criminal.


 

[cedivad]

http://www.reddit.com/r/BitcoinMining/comments/29h8u6/watch_antminer_s3_orders_in_real_time/

[smoothie]

Hopefully everyone here who is going to attempt to get a refund will have enough time to buy bitcoin before the next rocket.

I suspect many will be wanting to buy Bitcoin outright if they don't already need to spend that refund money on bills.

[vokain]

Hopefully everyone here who is going to attempt to get a refund will have enough time to buy bitcoin before the next rocket.

I suspect many will be wanting to buy Bitcoin outright if they don't already need to spend that refund money on bills.

doubtful

[digitalbrass]

I want to see the entire hashfast team in jail.  this way other hw companies know what to expect if they think they can pull something like this.