HashFast announces specs for new ASIC: up to 800GH/s

[miaviator]

If HF_CL fails at calming down the community newly created accounts of people knowing the law better than our lawyers arrive to the rescue.
Posted from asd, ref#NN3YE2pVR8l1X4iz

I'd like to propose a new drinking game for the forum.

Everytime cedivad comes on here and mentions his lawyer, you take a shot.

If cedivad mentions his lawyer *and* boasts about his overweening absolute confidence in a court victory, you take two shots.

If cedivad says something on-topic (IE about HashFast's 750GH/s EVO) take three shots, but don't worry because that *never* happens!   

shut up and ship the batch 2 units
nobody want to hear your bullshit sales verbiage, evo - evolution from what? ZERO?

Back of the line.

I want my batch 1 before you get your batch 2.

[yxt]

sorry my fault

[bkminer]

... evo - evolution from what? ZERO?

Actually I think it's evolution TO Zero!

[ninjarobot]

To even suggest that customers asking for a refund of the original payment in BTC are opportunists looking for a windfall is an insult.

Are you going to reply to that consumer compilant?
Posted from Bitcointa.lk - #HmO9DQ79J9kvCP5q

No I won't because it won't go anywhere. The complaint triggered a letter to HF to see if the complaint could be resolved between the company (HF) and consumer (me). Because HF went the legal route that option is now off the table. The Department of Justice in the State of California is prohibited by law from representing individual citizen's legal interests in civil matters.

They will retain my customer complaint and the response on behalf of HF by Zuber Lawler & Del Duca in case legal action is taken against HF by their office in the future. In that case the complaint can be used as evidentiary material and provide vital documentation for use on behalf of California consumer's interests. (at least according to the cover letter)

[Airwhale]

Hashfast_CL,

Thank you for putting this product to the forums attention.  However,  I'd need to have the following answers,  before I'd even consider your product.

1) You seem to acknowledge that other members of your team did promise that if refunds had to be payed,  it would be payed in the currency,  and amount of payment.  This allowed customers to hedge their risk against Bitcoin massively rising and Hashfast being late.

Now that both of these things have happened,  Hashfast seems to be trying to go back on this promise,  and, to add insult to injury,  seems to be accusing customers of expecting something unresonable when they try to hold hashfast to their word.  After this,  how can I expect to believe anything you say?

One would expect that Hashfast,  making these promises,  would hedge in some way,  either through special situations insurance or more traditional hedging, as is common in companies who make such promises with commodities or who do business in multiple currencies.  Did this not happen?  How could you make these promises if you did not insure your ability to keep them?  Again,  how can I trust any promises you make now?

2) Hashfast seems to be behind in shipping.  Will MPP shipments be delivered before or after these batches?  Will hashfast be able to deliver previous orders and these new orders on time?

3)Why do you believe that your product will produce a higher rate of return than Antminers? From my math,  it seems like the Antminers are much more profitable,  unless you are really, really concerned about power usage.  An Antminer bought today will have returned about 75% of what you pay for it before your product even ships.

4) Are terms of sale binding at the time of sale?  Or can you guys retroactively change them?

[gmaxwell]

Bad analogy.  HashFast ASICs are not made out of sized Bitcoins.  Bitcoins payed to HashFast were instantly changed into USD by BitPay.

I, and many other people, did not pay you via Bitpay.  I specifically raised the issue of some past vendors apparently taking funds waiting for the price of Bitcoin to rise and then "refunding" the past USD value (or otherwise, if the price did not rise— acquiring product) and was assured that hashfast would protect against this, a commitment which was later supported in HF's contract, and public communications by your representatives here.

This and other now apparently empty commitments like an October delivery and actually useful MPP made HashFast's 4-5x high price per GH than CoinTerra's still seem remotely competitive.  Without these representations I (and I assume many others) would not have purchased at all and certainly not at your prices, so much so that people sought out to double and triple confirm them directly with your staff and founders.  Considering your claims (backed up by documents filed with the state) of being funded by investors and not pre-orders the prospect of you holding coins (or other methods of hedging) to make good on refund promises seemed completely realistic.

The specific coins I paid you ended up at https://blockchain.info/address/1KFrqkEGy6Yq7X4SYCbYoj8HEwfbWVUDJ9 which is not under Bitpay's control.

[HashFast_CL]

Bad analogy.  HashFast ASICs are not made out of sized Bitcoins.  Bitcoins payed to HashFast were instantly changed into USD by BitPay.

I, and many other people, did not pay you via Bitpay.

That's nice, but the principles are the same.  Your coins were changed to fiat in order to build your machine, which was priced in USD.  If Bitcoin went to $1.00 you would demand USD and scoff at BTC parity.  If Bitcoin went to $1,000,000 it would be even more obvious you expect a pony named windfall to soothe your buyer's remorse.

Please ask cedivad to stop reposting deleted messages.  He's already made a hater thread (and site!) to preserve his precious hatings; no need to keep spamming them here.

[dopamine]

Cant wait for the courts to favor the customers and demand 100% refund as per TOS that hashfast has created. And a potetional customer asking real questions about MMP and past batches that have failed to deliver = EPIC FAIL. now delete this post as fast as u can again. Scamfast

[gmaxwell]

That's nice, but the principles are the same.  Your coins were changed to fiat in order to build your machine, which was priced in USD.  If Bitcoin went to $1.00 you would demand USD and scoff at BTC parity.  If Bitcoin went to $1,000,000 it would be even more obvious you expect a pony named windfall to soothe your buyer's remorse.

We had an explicit contract. The contract specified how this would be handled. This understanding was also directly confirmed with your staff.  Had Bitcoin went to $1 I would join with you in telling people under that contract who were looking for the USD price to stuff it.   My appreciation for your concern about buyers remorse is why I found the Dec 31st deadline acceptable in light of the Oct 20th advertised ship date— you didn't want the risk of people selectively canceling hardware based on how the recent price movements went.

There is no "windfall" involved here. You committed to specific terms, ones which were necessary at the prices your were charging to make your products commercially interesting. As your own founders had pointed out: You were selling a device to mine Bitcoin. If it mines less bitcoin then it costs then it is not a good buy. The construction of your contract was the only way to assure that your product wouldn't be a _massive_ loss for its buyers in the event that you failed to live up to your delivery promises, as you did. It was furthermore reasonable in light of your claims of using investor funds to finance your operation, as you could secure yourself against the risk while locking in the sales by simply setting the funds aside.

You still have not answered my questions— Do you or do you not intend to honor your clearly established contract with me with requires you to refund the Bitcoin paid?   You have still not responded to any of my certified letters.

[Micky25]

HF: Why not just commit you made an error and apologize? Instead of squirming around the truth like a dying worm.

EDIT: typo

[edgie13]

HF: Why not just commit you made an error and appologize? Instead of squirming around the truth like a dying worm.

I don't think that she is ever going to apologize. 

[joshv06]

Is anyone having problems with the HF phone number?

[cedivad]

Is anyone having problems with the HF phone number?

Yes, it never worked for me.
Posted from Bitcointa.lk - #FzXSxlPfQSwAu6FJ

[HashFast_CL]

Cant wait for the courts to favor the customers and demand 100% refund as per TOS that hashfast has created. And a potetional customer asking real questions about MMP and past batches that have failed to deliver = EPIC FAIL. now delete this post as fast as u can again. Scamfast

HashFast already offered and paid out 105% refunds.

No part of the TOS (regardless of gmaxwell's delusions) provides for a ~600% windfall in the event of massive BTC appreciation.

No court is going to award such a windfall, so you'll be waiting a very long time.

[Syke]

HashFast already offered and paid out 105% refunds.

105% of BTC97.95849881 is BTC102.856423751. When is HashFash sending gmaxwell BTC102.856423751 refund?

[gmaxwell]

HashFast already offered and paid out 105% refunds.

Offered and paid out?  What are you talking about? You have absolutely not refunded me. I wish it were so, I certainly do not enjoy the current state of affairs.

[SolarSilver]

Cant wait for the courts to favor the customers and demand 100% refund as per TOS that hashfast has created. And a potetional customer asking real questions about MMP and past batches that have failed to deliver = EPIC FAIL. now delete this post as fast as u can again. Scamfast

HashFast already offered and paid out 105% refunds.

Fine, where do I apply?

You still owe me the MPP one the Bach #1, The upgrade kits, the Sierras and the MPP for the Sierras. It's been over 6 weeks I've even heard anything from Hashfast

Where do I apply for a 105% refund and when will you pay it out?

[cedivad]

Tell me, HF_CL, how do you plan to compete?

https://www.bitmaintech.com/productDetail.htm?pid=00020140314135446510cxXNeYAy06E5
Posted from Bitcointa.lk - #QfBWvbDBRQkVDZna

[RoadStress]

Cant wait for the courts to favor the customers and demand 100% refund as per TOS that hashfast has created. And a potetional customer asking real questions about MMP and past batches that have failed to deliver = EPIC FAIL. now delete this post as fast as u can again. Scamfast

HashFast already offered and paid out 105% refunds.

No part of the TOS (regardless of gmaxwell's delusions) provides for a ~600% windfall in the event of massive BTC appreciation.

No court is going to award such a windfall, so you'll be waiting a very long time.

Maybe the TOS doesn't provide the windfall, but when people have e-mail from hashfast saying that they will be refunded in bitcoins then all your arguments go down the hole. TOS is TOS and e-mail promises were plain and straight LIES. How can you defend the bitcoin refunds from the e-mails?

[HashFast_CL]

HashFast already offered and paid out 105% refunds.

105% of BTC97.95849881 is BTC102.856423751. When is HashFash sending gmaxwell BTC102.856423751 refund?

That wouldn't be a refund, that would be a windfall.  Ain't gonna happen.