HashFast launches sales of the Baby Jet

[aneutronic]

"Error creating bitpay invoice. Please try again or try another payment method."

 

[cypherdoc]

How does anyone know this isn't a scam?  Endorsed by cypherdoc, ok.  But beyond that?

Simon, assuming you're not out to steal people's money (which, truthfully, I don't think you are, but I don't know you're not), what about your ability to deliver?  What if something goes wrong with the design?  It consumes more electricity than expected... ok, now what?  Does it mean a delay of several months for your customers while you re-engineer everything?  Or the chip just flat out doesn't work because of some overlooked hardware bug.  How long will it take to correct it?  Or you can't find a 28nm fab to squeeze you into their schedule.  What will you do?

well, a scam is where a person or group of ppl are trying to collect money w/o actually trying to design or deliver a product.  that's different than just an outright failure or inability to deliver a product while delivering a good faith effort.

this is definitely not the former.  i'm convinced we won't have a problem with the latter.  the risk is more about timing.

[DigitalHermit]

I don't see any refunds or discounts mentioned if you fail to make your shipping date (as every ASIC manufacturer before you has done).

Sorry, not interested.

I will ONLY consider placing pre-orders with companies that commit to discounts on late delivery. Anything else would be foolishly throwing money away.

[CYPER]

Delivery to Bulgaria (EU Country). Really???

[Ytterbium]

There is no much room in the pricing. If they are >4 weeks late (i.e. deliver late Nov) you are not gonna ROI. If they deliver on time, you will profit ~6k. This is with current difficulty slope and $/btc.

I actually doubt the difficulty slope will continue on the same exponential.  There's no natural exponential driver for this - it's all based on how many chip companies come out and how fast they ship their product.

If KnC actually succeeds in shipping all their Day 1 and Day 2 shipments in two days, plus the additional shipments in a couple days as well, you could be seeing 500Th to 1Ph come online in a couple days, for example.

There's also the problem of Labcoin, BTCGarden and of course those Avalon ASICs people are waiting for.

[SirWizz]

Delivery to Bulgaria (EU Country). Really???

Holy Moses, so that's how they get some extra money by overcharging on shipping? There's no way shipping to EU costs $750 .

[HashFast]

Hi Everyone,

There are a lot of orders trying to go through at the same time.
We are working on it. Please be patient.

John

[Ytterbium]

well, a scam is where a person or group of ppl are trying to collect money w/o actually trying to design or deliver a product.  that's different than just an outright failure or inability to deliver a product while delivering a good faith effort.

this is definitely not the former.  i'm convinced we won't have a problem with the latter.  the risk is more about timing.

No, look at BFL.  Clearly they "intended" to produce a unit.  However, they were able to delay and delay shipping products without ever telling anyone how much they'd sold - that kept the difficulty low in order to make their products look like good deals.

If you're planning on selling so many ASICs that your products never make ROI, then it's kind of a scam.

Selling an product that's not likely to make ROI is a bit on the scamy side, because you still have information your customers don't have access too.

[madmax_ger]

Delivery to Bulgaria (EU Country). Really???

Holy Moses, so that's how they get some extra money by overcharging on shipping? There's no way shipping to EU costs $750 .

I guess UPS charges fees based on hashing power now.

[DigitalHermit]

I actually doubt the difficulty slope will continue on the same exponential.

I think that's a very naive assumption.

But feel free to throw your money at another ASIC manufacturer when the track record for the entire industry is months to years late on delivery. I for one am not interested unless there is a guaranteed refund or discount for late delivery to compensate for the loss in ROI.

[btceic]

Does this feel like terrahash to anyone else?

[cypherdoc]

well, a scam is where a person or group of ppl are trying to collect money w/o actually trying to design or deliver a product.  that's different than just an outright failure or inability to deliver a product while delivering a good faith effort.

this is definitely not the former.  i'm convinced we won't have a problem with the latter.  the risk is more about timing.

No, look at BFL.  Clearly they "intended" to produce a unit.  However, they were able to delay and delay shipping products without ever telling anyone how much they'd sold - that kept the difficulty low in order to make their products look like good deals.

If you're planning on selling so many ASICs that your products never make ROI, then it's kind of a scam.

Selling an product that's not likely to make ROI is a bit on the scamy side, because you still have information your customers don't have access too.

i think you're talking about a business that just wants to pump and dump for a short term play.  i truly don't think HashFast is into that game.  they want a long term business that is viable.  sure, they are going to try and sell as many chips as they can but i'm sure if they see that it's coming at the expense of destroying their own customers and business the free market will force them to scale back.

[DigitalHermit]

i truly don't think HashFast is into that game.  they want a long term business that is viable.  sure, they are going to try and sell as many chips as they can but i'm sure if they see that it's coming at the expense of destroying their own customers and business the free market will force them to scale back.

If they want to be a viable long term business, then why not commit to discounts/refunds if they are unable to deliver on time? No commitment of that sort tells me they are no better than BFL or Avalon. In the case of delays, they will make their customer suffer the loss in ROI.

The fact that they will take on NONE of that risk themselves tells me they are not to be trusted. But apparently the world is full of trusting fools eager to part with their money... permanently. ;-)

[Ytterbium]

i think you're talking about a business that just wants to pump and dump for a short term play.  i truly don't think HashFast is into that game.  they want a long term business that is viable.  sure, they are going to try and sell as many chips as they can but i'm sure if they see that it's coming at the expense of destroying their own customers and business the free market will force them to scale back.

Except if they burn their customer base they'll be able to switch to self-mining.

If they want to be a viable long term business, then why not commit to discounts/refunds if the are unable to deliver on time? No commitment of that sort tells me they are no better than BFL or Avalon. In the case of delays, they will make their customer suffer the loss in ROI.

They are saying they'll refund if they're late.

However, only taking bitcoin - I think a lot of people's BTC might be tied up in KnC and mining shares, if not Avalon chip based pre-orders anyway.

[SgtSpike]

How does anyone know this isn't a scam?  Endorsed by cypherdoc, ok.  But beyond that?

Simon, assuming you're not out to steal people's money (which, truthfully, I don't think you are, but I don't know you're not), what about your ability to deliver?  What if something goes wrong with the design?  It consumes more electricity than expected... ok, now what?  Does it mean a delay of several months for your customers while you re-engineer everything?  Or the chip just flat out doesn't work because of some overlooked hardware bug.  How long will it take to correct it?  Or you can't find a 28nm fab to squeeze you into their schedule.  What will you do?

well, a scam is where a person or group of ppl are trying to collect money w/o actually trying to design or deliver a product.  that's different than just an outright failure or inability to deliver a product while delivering a good faith effort.

this is definitely not the former.  i'm convinced we won't have a problem with the latter.  the risk is more about timing.

Well, I'm asking about both.

How do you know they are making a good faith effort at trying to deliver a product?  So, they have some fancy pictures.  They have some names on a website.  How can a potential customer verify that these names are actually attached to this project?  How can a potential customer know that they are as close as they say they are to delivering the product?  Etc, etc.

[ninjarobot]

Ordered one. (order 585, although the site lists 503 in stock so I should be in the 1st batch).

Was hoping for 10$ per GH/s for this delivery timeframe (things are going to get crazy). But hey.

Better not pull a BFL on us HashFast!

[deadgiveaway]

This seems rather premature. I suspect they saw Cointerra coming on the scene, and wanted to take away as much pre-order capital from them as possible. Good luck.

[cypherdoc]

How does anyone know this isn't a scam?  Endorsed by cypherdoc, ok.  But beyond that?

Simon, assuming you're not out to steal people's money (which, truthfully, I don't think you are, but I don't know you're not), what about your ability to deliver?  What if something goes wrong with the design?  It consumes more electricity than expected... ok, now what?  Does it mean a delay of several months for your customers while you re-engineer everything?  Or the chip just flat out doesn't work because of some overlooked hardware bug.  How long will it take to correct it?  Or you can't find a 28nm fab to squeeze you into their schedule.  What will you do?

well, a scam is where a person or group of ppl are trying to collect money w/o actually trying to design or deliver a product.  that's different than just an outright failure or inability to deliver a product while delivering a good faith effort.

this is definitely not the former.  i'm convinced we won't have a problem with the latter.  the risk is more about timing.

Well, I'm asking about both.

How do you know they are making a good faith effort at trying to deliver a product?  So, they have some fancy pictures.  They have some names on a website.  How can a potential customer verify that these names are actually attached to this project?  How can a potential customer know that they are as close as they say they are to delivering the product?  Etc, etc.

first of all, i visited their office all day inside Uniquify.  i met 9 ppl working for the company.  i saw what they could show me.  yes, not the hardware you might want to see but enough that convinced me they are for real.  talked to ppl from Uniquify.  have talked with Eduardo everyday for the last 2 wks about the project.  they are working very hard to make this happen.  there's too many ppl involved and too many documents signed for it to be an outright scam.  there will be a box.  it's just when will it be delivered.

[DigitalHermit]

They are saying they'll refund if they're late.

However, only taking bitcoin - I think a lot of people's BTC might be tied up in KnC and mining shares, if not Avalon chip based pre-orders anyway.

They are offering a refund if late? I see someone posted this from their TOS:

https://bitcointalk.org/index.php?topic=262052.msg2895007#msg2895007

So you must submit a cancellation request and there is a right to cure for 30 days... a long time in the mining world. I will like to see a guaranteed shipping date; not an approximate date, and discounts based on number of days passed that shipping date.

[Vagnavs]

Delivery to Bulgaria (EU Country). Really???

Holy Moses, so that's how they get some extra money by overcharging on shipping? There's no way shipping to EU costs $750 .

I guess UPS charges fees based on hashing power now.

are you guys F*cking serious? That's about 3X the price. Company to seems to want to rape customers as much as I can. No credit cards, shipping outrageous. I'm glad I am passing on this one, good luck everyone.

Edit: KnC Miner Shipping price: $ 136.80 (US)