HashFast announces specs for new ASIC: 400GH/s

[Minor Miner]

I am at the US Trustee's office for the continued 341a hearing. Our lawyer scared Simon so much last week that he is refusing to appear. He and Eduardo are hiring personal lawyers.  Interestingly, Simon has hired a lawyer Ray Gallo aggressively pushed the committee to select.

Well there are only like 4 or 5 lawyers in all of San Francisco right?  So what choice did he have!
Edit: My bad there are 17,000 Lawyers in SF and several thousand more in the surrounding area.

Sorry, I am confused.    Simon has hired a personal lawyer and it is the same lawyer that Ray Gallo was pushing the committee to hire to represent the creditors?
How could that happen?  There seem to be a lot of coincidences in this bitcoin world. 
Who does Ray Gallo represent anyway?   I thought he was just a contingency lawyer?    Why would he be representing creditors now that we are all going to share equally in whatever amount we can recover from the estate?   Why would they pay out part of what they will receive regardless to a lawyer that is not able to get them anything more than what they will get as part of the normal estate settlement?
I hate when things do not make sense.   Especially, when it comes to hashfast.

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[Minor Miner]

so if Simon stays abroad and decides to stay abroad, is he out of US jurisdiction?

That would not be a smart thing to do unless he decides to never travel, never board an airplane, never land in a country that will hold him for the USA (a LOT of places) and thinks that will be a fun way to live his life.    Plus, why would he do that?   Only someone who has committed a crime would consider doing something that crazy.   We do not know that he has committed a crime yet.   We only know that he does not feel that the $700 per hour lawyer that he is getting for free and is billing the estate (taking money that belongs to us creditors) is  enough to protect Simon as well.   Considering many of the people's experiences and the similarities in stories, they probably do need personal lawyers because I do not believe the liability is limited to the estate and it is likely that Simon, Eduardo, John, Chad et al. will also be needing to declare personal bankruptcy and then will have judgments against themselves that will follow them for the rest of their lives.
Must be very sobering to learn that this is not a fun, little game nor is it a pretend world where there is no responsibility for your actions.  Must be scary to realize that in the real world there are people that are willing to spend a lot of money ensuring justice is done and the responsible parties pay what they owe to people and to society.

[aasl]

I just received in the mail a document which appears to be from the Chairman for the Official Committee of Unsecured Creditors. It proposes the hiring of a particular legal firm. I just wanted to check with you all to make sure this is legit. Also since I received this document can I assume that I am actually on the creditors list? (I will still check with PACER once my registration info arrives in the mail)

Can you post a scan of the document or PM it to me?   The chairman of the committee did not mail anything suggesting any law firm and the committee voted a couple weeks ago appointing a lawyer to represent creditors so this does not make sense.  You can see that a few pages ago in this thread.  Perhaps you are misinterpreting it.  Please post or PM me the letter and I will tell you what it means.

As pmorici says, the document is from Baker, so I don't think there is a need to scan it (there is a LOT of pages there).

I also received the documents. What we should do? just ignore them?

[allinvain]

I just received in the mail a document which appears to be from the Chairman for the Official Committee of Unsecured Creditors. It proposes the hiring of a particular legal firm. I just wanted to check with you all to make sure this is legit. Also since I received this document can I assume that I am actually on the creditors list? (I will still check with PACER once my registration info arrives in the mail)

Can you post a scan of the document or PM it to me?   The chairman of the committee did not mail anything suggesting any law firm and the committee voted a couple weeks ago appointing a lawyer to represent creditors so this does not make sense.  You can see that a few pages ago in this thread.  Perhaps you are misinterpreting it.  Please post or PM me the letter and I will tell you what it means.

As pmorici says, the document is from Baker, so I don't think there is a need to scan it (there is a LOT of pages there).

I also received the documents. What we should do? just ignore them?

Well, sort of. If you object to the proposal in that letter you can issue a formal objection (written) I suppose. I am fine with the proposal so I will "ingore" it and keep it for future reference. It was nice to receive something though and it made me feel a bit more "in the loop."

[cedivad]

Sullivan? Anyway they are not stupid. I dont see why he should have choosed that same lawyer, and the only conclusion I see that he already knows too much to leave him out of the loop. They wanted him to make the committee useless and they did so by telling him a lot of infos. That could make sense, but its yet another conspiracy. I personally dont like conspiracies.

[cedivad]

http://hashfast.org/creditors-meeting.1.mp3

This is a mirror for the 3.5 hours long meeting. Waiting to upload the second part.

[MrTeal]

Sullivan? Anyway they are not stupid. I dont see why he should have choosed that same lawyer, and the only conclusion I see that he already knows too much to leave him out of the loop. They wanted him to make the committee useless and they did so by telling him a lot of infos. That could make sense, but its yet another conspiracy. I personally dont like conspiracies.

That would be a huge violation of attorney/client privilege, and most lawyers wouldn't be willing to toss their career away for a small case. If I had to guess, it would make more sense Barber picked him because he's at least somewhat familiar with Bitcoin so there would be less time to get up and running.

[cedivad]

I've yet to find a lawyer that takes more than 5 minutes to understand the basics of bitcoin. And bitcoin mining is just business with different rules, nothing incredibly complex.

[Minor Miner]

Sullivan? Anyway they are not stupid. I dont see why he should have choosed that same lawyer, and the only conclusion I see that he already knows too much to leave him out of the loop. They wanted him to make the committee useless and they did so by telling him a lot of infos. That could make sense, but its yet another conspiracy. I personally dont like conspiracies.

That would be a huge violation of attorney/client privilege, and most lawyers wouldn't be willing to toss their career away for a small case. If I had to guess, it would make more sense Barber picked him because he's at least somewhat familiar with Bitcoin so there would be less time to get up and running.

Yes, it would be.   So, who is represented by Ray Gallo?   When he is getting information from the committee meetings (information the rest of us do NOT get), it seems he is receiving it because he represents committee member Hee.   That means he can only act in that creditor's interest in that capacity.   During the hearings (that we all CAN hear), he would be expected to be acting in ALL his clients' best interests.   
Seems very strange that Ray thinks that the best lawyer that should have represented all of us creditors AGAINST Simon et al. is the SAME lawyer that Simon now feels is the best lawyer to look out for Simon's own personal interests.
Your point about Simon Barber wanting to pick the lawyer that "is somewhat familiar" so that "there would be less time to get up and running" does not ring true if you have listened to these hearings.   Simon has been trying to delay EVERYTHING that is obvious because the creditors are not getting any of the information we want and they make excuses for why not.  And did you not hear when Simon said he is GOING TO EUROPE FOR VACATION FOR A MONTH?   You need to listen to these hearings because your statement that Simon somehow wants speed things up does not ring true with what is said in court.   Unless you know something more than what the rest of us are hearing?   If so, please let us know.

[MrTeal]

Sullivan? Anyway they are not stupid. I dont see why he should have choosed that same lawyer, and the only conclusion I see that he already knows too much to leave him out of the loop. They wanted him to make the committee useless and they did so by telling him a lot of infos. That could make sense, but its yet another conspiracy. I personally dont like conspiracies.

That would be a huge violation of attorney/client privilege, and most lawyers wouldn't be willing to toss their career away for a small case. If I had to guess, it would make more sense Barber picked him because he's at least somewhat familiar with Bitcoin so there would be less time to get up and running.

Yes, it would be.   So, who is represented by Ray Gallo?   When he is getting information from the committee meetings (information the rest of us do NOT get), it seems he is receiving it because he represents committee member Hee.   That means he can only act in that creditor's interest in that capacity.   During the hearings (that we all CAN hear), he would be expected to be acting in ALL his clients' best interests.   
Seems very strange that Ray thinks that the best lawyer that should have represented all of us creditors AGAINST Simon et al. is the SAME lawyer that Simon now feels is the best lawyer to look out for Simon's own personal interests.
Your point about Simon Barber wanting to pick the lawyer that "is somewhat familiar" so that "there would be less time to get up and running" does not ring true if you have listened to these hearings.   Simon has been trying to delay EVERYTHING that is obvious because the creditors are not getting any of the information we want and they make excuses for why not.  And did you not hear when Simon said he is GOING TO EUROPE FOR VACATION FOR A MONTH?   You need to listen to these hearings because your statement that Simon somehow wants speed things up does not ring true with what is said in court.   Unless you know something more than what the rest of us are hearing?   If so, please let us know.

I have no additional information that anyone else doesn't have. I never said Simon wanted to speed things up; he obviously isn't getting a lawyer to help move the bankruptcy and restitution process along. I haven't heard the latest session (the one after the 3.5 hour one), but from what was said here it would seem he wants someone to advise him personally right now. If Simon doesn't have a personal lawyer he uses already, rather than looking through the phone book he knew was at least somewhat familiar with the case and Bitcoin. Is it a little strange that he hired the guy that was proposed as the creditor's lawyer? Yeah. I think that explanation is more likely than a conspiracy to use this lawyer to somehow make the committee useless.

[cedivad]

I see your point. Finding a lawyer is hard. Using the one that was supposed to represent your enemy is a no brainer. Damn phone books. Too many pages.

[bit_wizard]

BOYCOTT PRE-ORDERS!

[MrTeal]

I see your point. Finding a lawyer is hard. Using the one that was supposed to represent your enemy is a no brainer. Damn phone books. Too many pages.

Do you often try to find a lawyer by starting at "AAA Lawyers, LLC" and working your way down the list?

[cedivad]

I see your point. Finding a lawyer is hard. Using the one that was supposed to represent your enemy is a no brainer. Damn phone books. Too many pages.

Do you often try to find a lawyer by starting at "AAA Lawyers, LLC" and working your way down the list?

No. Do you often try to find lawyers using phone books?

[pmorici]

I see your point. Finding a lawyer is hard. Using the one that was supposed to represent your enemy is a no brainer. Damn phone books. Too many pages.

Do you often try to find a lawyer by starting at "AAA Lawyers, LLC" and working your way down the list?

No. Do you often try to find lawyers using phone books?

Anyway, just bought the latest hearing from inforupcy. Free download from there.

You know if you have your attorney register you w/ your email address as an interested party in the case you will get an email with a link to download the document/audio for free every time something is filed.

[cedivad]

My lawyer gets them. Not me. He is sort of not my lawyer anymore, at least not for now. Paying $20 per month or something is certainly better than being billed for forwarding emails.

[Minor Miner]

I see your point. Finding a lawyer is hard. Using the one that was supposed to represent your enemy is a no brainer. Damn phone books. Too many pages.

Do you often try to find a lawyer by starting at "AAA Lawyers, LLC" and working your way down the list?

No, people do not do that.  But when you have run as many companies as Simon has and have engaged as many VERY good law firms as Simon has (the two very expensive large law firms he has used both have good reputations), you usually call them for a referrals.  The only ray of hope I see in this whole thing is that he has hired a bankruptcy lawyer and not a criminal lawyer.   At least there is still some hope they did not break any laws when they conveniently "lost" or "foolishly spent" $18-22,000,000.
If there was embezzlement or unethical payments to shareholders, I hope some of the HF employees who know of these transactions call the trustee and report them before they also become entangled in this if it goes criminal.   Federal investigators do NOT like being lied to.   Google it.   Guaranteed prison without exception when you do that.   Better to come clean now, then get caught later.
That would go for any "businesses" that might have given ANY interest or share to HF shareholders when they knowingly bought products below market.   Better to confess than to have investigators come later asking questions.

[cedivad]

I don't think that scammers like VMC will voluntarily go to the trustee explaining the source of their first gen HF board when they could have produced evo boards instead... Especially with that revision stickers whose paper was left at the sun (or indirect light) for a long time... (lights are usually off in any halfway decent datacenter)

There are simply too many things to work with. Something will be exposed and everyone will start talking about things we couldnt even imagine in a vain attempt to save their individual asses.

[duncwa]

I agree, once one individual folds out of fear, it'll be a race to expose all.  We will know, and it'll be ugly.  The last.  Fear motivates irrational and rational.

[perezoso]

Hushen: "I hired an accountant, I've had four turn over in the last two months."  (@~2:52:30)

If the average tenure of employment of a new accountant at Hashfast is two weeks, it sounds to me like these guys take a look at the books and say "Get me out of here!"

But, man that's a long exchange between Igor and Monica.  Both of them make me want to cringe.  Igor for being such a pedant (although I'm on his side!), and Monica for being a condescending jerk.

And who was it, one of the women, who said (earlier), "He's from Europe, he has a different east."  It didn't sound like a joke.

Please tell me it was their lawyer, and not ours, who thinks that the cardinal directions vary from continent to continent!  

This Guido Ochoa.... $500k... a Venezuelan Socialist politician?  One wonders if his plan isn't to evade his own government's currency controls.  Do we know if he paid USD cash?

At the very end... if it's "under $20 for the [new] substrate and assembly", and the new substrate is "less than half" the cost of the current one (quoting Simon), do I understand correctly, then, that the original assembled boards (without the chips) probably cost Hashfast something like $45-50 each?  They had chips on hand.  So chip + $50 = working board? And they had component supplies on hand?  Why the hell couldn't they ship more systems?  If this was the case, they could have furloughed everybody for a week, taken the salary saved, and had the money to build and ship quite a few machines.  What am I missing?