HashFast announces specs for new ASIC: 400GH/s

[stan258]

It was also possible for BTC to collapse.  So what?

In which case they would provide BTC refunds. Simon promised BTC refunds, when he really meant "We'll give you the smallest refund possible. If bitcoin goes down, we'll provide BTC refunds, if bitcoin goes up, we'll provide USD refunds."

I agree with you Syke however HF is now in Chapter 11.  As I understand it is a recovery operation now.  They are not attempting to save the company and the same boards that many paid $5k for are worth 350 bucks or less.

 I had hoped the creditors counsel would have pushed a motion for immediate liquidation few months back but we are here now and it is what it is and from some of the vendors not fulfilling not mining ETC was/is a cluster F*** to work with.
  
My only request from all this now is I want all this to be finished this year so I can take it as a tax deduction.  If I happen to get a check in the mail it will go to my next round of Spondoolies.  

The guy who keeps brining up windfall can keep talking to all the law students you want. The only wind going on now is the kind coming out of my ass as I ate a lot of beans today.  

I and others should have filed a debt memo for recovery as soon as HF missed shipped dates. This may or may not have been able to get full BTC back as they converted some via Bitpay but a judge would have decided that. Lesson learned however what United States ASIC company is left? All have ended up trash scammer liars.

This reminds me of MARVAL telling SONY that the Spiderman that grossed 1 billion dollars worldwide lost money.  

How do you sleep at night knowing you fuck people over for a living iCEBREAKER ?

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[Gyrsur]

It was also possible for BTC to collapse.  So what?

How do you sleep at night knowing you fuck people over for a living iCEBREAKER ?

this "iCEBREAKER" isn't a human it must be some sort of technology without empathy. don't argue with it because NO EMPATHY.

[iCEBREAKER]

It was also possible for BTC to collapse.  So what?

In which case they would provide BTC refunds. Simon promised BTC refunds, when he really meant "We'll give you the smallest refund possible. If bitcoin goes down, we'll provide BTC refunds, if bitcoin goes up, we'll provide USD refunds."

I agree with you Syke however HF is now in Chapter 11.  As I understand it is a recovery operation now.  They are not attempting to save the company and the same boards that many paid $5k for are worth 350 bucks or less.

 I had hoped the creditors counsel would have pushed a motion for immediate liquidation few months back but we are here now and it is what it is and from some of the vendors not fulfilling not mining ETC was/is a cluster F*** to work with.
  
My only request from all this now is I want all this to be finished this year so I can take it as a tax deduction.  If I happen to get a check in the mail it will go to my next round of Spondoolies.  

The guy who keeps brining up windfall can keep talking to all the law students you want. The only wind going on now is the kind coming out of my ass as I ate a lot of beans today.  

I and others should have filed a debt memo for recovery as soon as HF missed shipped dates. This may or may not have been able to get full BTC back as they converted some via Bitpay but a judge would have decided that. Lesson learned however what United States ASIC company is left? All have ended up trash scammer liars.

This reminds me of MARVAL telling SONY that the Spiderman that grossed 1 billion dollars worldwide lost money.  

How do you sleep at night knowing you fuck people over for a living iCEBREAKER ?

I sleep very well, having done my best to ensure HF customers got their systems in good working order ASAP, even at considerable cost to my own interests.  I also helped them fix post-delivery problems, to the best of my ability.  What did you do to help, besides bitching on an internet forum?  

Yes, maybe you "should have filed a debt memo for recovery as soon as HF missed shipped dates."  That's on you, not me.

It's NMF you refuse to (or simply can't) grasp the simple legal concept of 'No Windfalls' and have to denigrate law students, in lieu of dealing with your well-deserved cognitive dissonance.

How dare you imply I've done something wrong without citing any specific charges?  Take your undue opprobrium and shove it.  


Gyrsur, I sympathize with those who thought they were getting into a risk-free, hedged 'sweet spot' deal, because I was among them as HashFast Customer Number 001C.

But once our mistake was clarified via the concept of 'No Windfalls' being introduced, only truculent greedy buffoons refused to accept reality.  I have no empathy for them, only scorn.


Bicknellsi, you are a beggar.  You just go around begging ASIC companies for Free Stuff.  And when they say 'sorry, those chips are a hot commodity and we own them to those who helped pay for them' you get all butthurt.  Nobody cares what 'collective' you claim to represent.  Get a job and buy your dev kit like everyone else, you stinking mooching panhandler.

[Bicknellski]

It was also possible for BTC to collapse.  So what?

In which case they would provide BTC refunds. Simon promised BTC refunds, when he really meant "We'll give you the smallest refund possible. If bitcoin goes down, we'll provide BTC refunds, if bitcoin goes up, we'll provide USD refunds."

I agree with you Syke however HF is now in Chapter 11.  As I understand it is a recovery operation now.  They are not attempting to save the company and the same boards that many paid $5k for are worth 350 bucks or less.

 I had hoped the creditors counsel would have pushed a motion for immediate liquidation few months back but we are here now and it is what it is and from some of the vendors not fulfilling not mining ETC was/is a cluster F*** to work with.
  
My only request from all this now is I want all this to be finished this year so I can take it as a tax deduction.  If I happen to get a check in the mail it will go to my next round of Spondoolies.  

The guy who keeps brining up windfall can keep talking to all the law students you want. The only wind going on now is the kind coming out of my ass as I ate a lot of beans today.  

I and others should have filed a debt memo for recovery as soon as HF missed shipped dates. This may or may not have been able to get full BTC back as they converted some via Bitpay but a judge would have decided that. Lesson learned however what United States ASIC company is left? All have ended up trash scammer liars.

This reminds me of MARVAL telling SONY that the Spiderman that grossed 1 billion dollars worldwide lost money.  

How do you sleep at night knowing you fuck people over for a living iCEBREAKER ?

He sleeps fine.

He like many of these people who have scammed and lied to the community have APD:

http://psychcentral.com/disorders/antisocial-personality-disorder-symptoms/

Antisocial personality disorder is characterized by a long-standing pattern of a disregard for other people’s rights, often crossing the line and violating those rights. It usually begins in childhood or as a teen and continues into their adult lives.

Just look at the list of people that includes.

Josh Zerlan BFL
Josh Zipkin AMT
Marto Technobit
Icebreaker HashFast Shill
Sony V. BFL
Black Arrow Various members
Bitmine Various members
HashFast Various members

etc...

Symptoms of Antisocial Personality Disorder

Antisocial personality disorder is diagnosed when a person’s pattern of antisocial behavior has occurred since age 15 (although only adults 18 years or older can be diagnosed with this disorder) and consists of the majority of these symptoms:

* Failure to conform to social norms with respect to lawful behaviors as indicated by repeatedly performing acts that are grounds for arrest
* Deceitfulness, as indicated by repeated lying, use of aliases, or conning others for personal profit or pleasure
* Impulsivity or failure to plan ahead
* Irritability and aggressiveness, as indicated by repeated physical fights or assaults
* Reckless disregard for safety of self or others
* Consistent irresponsibility, as indicated by repeated failure to sustain consistent work behavior or honor financial obligations
* Lack of remorse, as indicated by being indifferent to or rationalizing having hurt, mistreated, or stolen from another

[Syke]

HF would have never been allowed to refund pennies on the dollar, for THE EXACT SAME REASONS they would never be required to hand out windfalls (dollars on the penny).[/b]

You are very confused about the basics of contract law.  What HF owed (past tense, thanks to bankruptcy now we get scraps) for refunds is equal to the amount tendered at the time of purchase.

This was all covered exhaustively in HF's devastating response to Prof Morici's absurd windfall demand.

It's great reading and very educational.  Perhaps dumb old cedivad will be so kind as to provide a link for us?  I may have the .pdf around somewhere if not.

If you really were honestly confused about all this, and not just playing dumb to troll or get a windfall, I'm sorry.  But many people have already explained it in detail.

Let's assume you are correct in all of that. That proves the promise of BTC refunds was a flat out lie.

[iCEBREAKER]

HF would have never been allowed to refund pennies on the dollar, for THE EXACT SAME REASONS they would never be required to hand out windfalls (dollars on the penny).[/b]

You are very confused about the basics of contract law.  What HF owed (past tense, thanks to bankruptcy now we get scraps) for refunds is equal to the amount tendered at the time of purchase.

This was all covered exhaustively in HF's devastating response to Prof Morici's absurd windfall demand.

It's great reading and very educational.  Perhaps dumb old cedivad will be so kind as to provide a link for us?  I may have the .pdf around somewhere if not.

If you really were honestly confused about all this, and not just playing dumb to troll or get a windfall, I'm sorry.  But many people have already explained it in detail.

Let's assume you are correct in all of that. That proves the promise of BTC refunds was a flat out lie.

You don't have to "assume."  It's a matter of fact, not opinion.  See HF's response to Morici for the full story.  Until then, reread this.  S L O W L Y . . .

Common sense (and any competent lawyer/law school student) should tell you that statement was made ceterus paribus.  Don't speak Latin?  Look it up!

The ridiculous No Matter What Even If BTC Goes To One Million Dollars^TM interpretation was motivated by pure greed, defies financial/legal reality, and cost many people their opportunity for a 105% refund.

[Syke]

You don't have to "assume."  It's a matter of fact, not opinion.  See HF's response to Morici for the full story.  Until then, reread this.  S L O W L Y . . .

Common sense (and any competent lawyer/law school student) should tell you that statement was made ceterus paribus.  Don't speak Latin?  Look it up!

The ridiculous No Matter What Even If BTC Goes To One Million Dollars^TM interpretation was motivated by pure greed, defies financial/legal reality, and cost many people their opportunity for a 105% refund.

Nope. It was a flat out lie meant to deceive prospective customers into believing they'd get their BTC back if there were delays. Many customers would not have ordered if it were not for that lie.

[iCEBREAKER]

You don't have to "assume."  It's a matter of fact, not opinion.  See HF's response to Morici for the full story.  Until then, reread this.  S L O W L Y . . .

Common sense (and any competent lawyer/law school student) should tell you that statement was made ceterus paribus.  Don't speak Latin?  Look it up!

The ridiculous No Matter What Even If BTC Goes To One Million Dollars^TM interpretation was motivated by pure greed, defies financial/legal reality, and cost many people their opportunity for a 105% refund.

Nope. It was a flat out lie meant to deceive prospective customers into believing they'd get their BTC back if there were delays. Many customers would not have ordered if it were not for that lie.

You would have gotten your BTC back, if

1) the price of BTC had remained stable (have you looked up ceterus paribus yet?)
and
2) the legal scrutiny hadn't forced refunds to be in USD fiat

[stan258]

Defiantly likes to use big words to compensate for something small.    Try this one you dumb M F er.

http://en.wikipedia.org/wiki/False_advertising

[cedivad]

Is this what you're looking for?: http://hashfast.org/071514.2.pdf

No, that's for the next gen IP, but thank you for your efforts

[User705]

You don't have to "assume."  It's a matter of fact, not opinion.  See HF's response to Morici for the full story.  Until then, reread this.  S L O W L Y . . .

Common sense (and any competent lawyer/law school student) should tell you that statement was made ceterus paribus.  Don't speak Latin?  Look it up!

The ridiculous No Matter What Even If BTC Goes To One Million Dollars^TM interpretation was motivated by pure greed, defies financial/legal reality, and cost many people their opportunity for a 105% refund.

Nope. It was a flat out lie meant to deceive prospective customers into believing they'd get their BTC back if there were delays. Many customers would not have ordered if it were not for that lie.

An idiot startup guaranteeing BTC refunds with no cap to its value whatsoever.  Also TOS specifically said otherwise.  The statement was a lie but a fairly obvious one.  Wasn't it?  The assholes that promised that were lying and deserve whatever can be managed to be done to them which likely won't be much. 
But everyone who ordered.  Can you honestly say you didn't suspect a thing when someone was promising BTC refunds at unlimited value when the only reason the question kept being asked was because BFL did the exact same thing earlier.  Come on...

[jimmothy]

You don't have to "assume."  It's a matter of fact, not opinion.  See HF's response to Morici for the full story.  Until then, reread this.  S L O W L Y . . .

Common sense (and any competent lawyer/law school student) should tell you that statement was made ceterus paribus.  Don't speak Latin?  Look it up!

The ridiculous No Matter What Even If BTC Goes To One Million Dollars^TM interpretation was motivated by pure greed, defies financial/legal reality, and cost many people their opportunity for a 105% refund.

Nope. It was a flat out lie meant to deceive prospective customers into believing they'd get their BTC back if there were delays. Many customers would not have ordered if it were not for that lie.

An idiot startup guaranteeing BTC refunds with no cap to its value whatsoever.  Also TOS specifically said otherwise.

You mean the fifth edit of the TOS which nobody agreed to right?

[cedivad]

Many people tried their best to explain this before it was too late, but we were drowned out by the shrieking of trolls like yourself and the rest of your Free Stuff Army.  

If HashFast doesn't ship anything this year, apart from Christmas cards, I get a full refund.  In BTC.

Given the coins have appreciated 300% vs fiat since I spent them, I'm fine with that.

I nominate this for the quote of the year prize. (prize = paying trollers to troll you).

I call them trollers while a more fitting definition would be people employed with the sole goal of deceiving a community in order to get cash in form of preorders to be recycled and end up in their personal pockets.

[User705]

Does it really matter?  Even the very first TOS has limitation of liability and force majuer clauses.  The question is why a promise of BTC refunds irregardless of value any more reasonable then other idiotic promises like pirates promise of huge interest rates payable in BTC?
 
Ice is right that those who told people not to take or cash refund checks did a disservice to them.  Just say no to preorders and while at it say no to cloud mining.  The next ASIC scam.

[jimmothy]

How was HF supposed to both A) keep the BTC in cold storage, and B) pay for the chips/boards/machines to be produced?  That doesn't make sense!  Those are mutually exclusive actions. 

Those are absolutely not mutually exclusive.

Why did hashfast need to cash out all their btc when production costs were less than 10% of what they charged for preorders?

[User705]

How was HF supposed to both A) keep the BTC in cold storage, and B) pay for the chips/boards/machines to be produced?  That doesn't make sense!  Those are mutually exclusive actions. 

Those are absolutely not mutually exclusive.

Why did hashfast need to cash out all their btc when production costs were less than 10% of what they charged for preorders?

By that logic they didn't "need" any Pre-orders at all.

[Gyrsur]

what happens with the frozen BTC of HF. are they still there on an address?

[cedivad]

By that logic they didn't "need" any Pre-orders at all.

That logic isn't flawed. Your post is. (VC capital, 10% != 100%).

what happens with the frozen BTC of HF. are they still there on an address?

HF claims to have something like 5 BTC total.

[jimmothy]

Does it really matter?  Even the very first TOS has limitation of liability and force majuer clauses.  The question is why a promise of BTC refunds irregardless of value any more reasonable then other idiotic promises like pirates promise of huge interest rates payable in BTC?
 
Ice is right that those who told people not to take or cash refund checks did a disservice to them.  Just say no to preorders and while at it say no to cloud mining.  The next ASIC scam.

In hindsight, yes they should have accepted the usd refunds, but also in hindsight hashfast could have not fucked up/lied several times leading to that point.

Btc refunds irregardless of value are easy to do if you don't convert the payments to fiat. If you need to convert the payments to fiat then don't guarantee btc refunds.

It's really that simple.

The fact that their policy relied on a btc rate that didn't change meant they either had no idea how bitcoin works or were lying.

By that logic they didn't "need" any Pre-orders at all.

I'm not sure how you came to that conclusion. I'm sure they could have been entirely VC funded but that's beside the point.

By my logic they needed ~$1m/PH and they asked for $15m.

If btc was $150/btc they would have been paid 100,000 btc. They could have cashed out 10,000 btc and been left with 90k btc for refunds.

[cedivad]

If they had accepted USD refunds they would basically have only given up their BTC claims. I personally never received an USD refund check. Remember that HF had yet to finish refunding USD batch 1 customers when they they entered into bankruptcy. Batch 1 was like 14% of their total sales.

The problem was HF and the money they have pocketed; as jimmothy remembers, if HF was another company (let it be KNC or CT) they would have never spent 20M without delivering shit. HF was incredibly able to do so.

If you take my grandmother and ask her to run the same company, you won't be able to duplicate this incredibly ugly result. Not even in a hundred times.

So, from now on: