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

[yxt]

@HashFast_CL

stop your PR chitchat and post an update on shipping ETA

[cedivad]

A statement based on and made during a long period of BTC/USD stability cannnot reasonably expected to be maintained given a huge spike in the exchange rate.

Jesus, that laugh almost killed me.
Posted from Bitcointa.lk - #RMruiFPz5XcEesOE

[ninjarobot]

If BTC went to a million, your assumptions would lead to the absurd conclusion that HashFast owes gmaxwell $98,000,000.
Only the self-interested intentional delusions of the greedy, windfall-seeking plaintiffs would make such a ridiculous case.

Good thing HF held on to gmaxwell's BTC payment then (as should be expected considering the ToS/order confirmation). Talking about windfalls...

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

[Syke]

Listen carefully because repeating this is tiresome:

A statement based on and made during a long period of BTC/USD stability cannnot reasonably expected to be maintained given a huge, unexpected spike in the exchange rate.

Yes, complying with the terms of a sale are tiresome. It's so much easier to breach the contract and keep the money and not deliver the goods. It's so much more profitable too!

[cedivad]

Anyway i agree with yxt.

Since that HF_CL is so open today, and that we haven't heard nothing from them since months, let's leave the legal "details" of how we will screw the people who screw their customers apart for one second, and let's talk about your current status of orders.

Why the hell you are not shipping the hardware?
Posted from Bitcointa.lk - #qoEQN9ZrxXi5RT8R

[ninjarobot]

Why the hell you are not shipping the hardware?

I think HF_CL already answered that question:

If HashFast had enough resources to build your machine without your money, we would have simply kept the machines for ourselves

I.e. they were planning on consuming their own products. Talk about a conflict of interest.

[HashFast_CL]

Listen carefully because repeating this is tiresome:

A statement based on and made during a long period of BTC/USD stability cannnot reasonably expected to be maintained given a huge, unexpected spike in the exchange rate.

Yes, complying with the terms of a sale are tiresome. It's so much easier to breach the contract and keep the money and not deliver the goods. It's so much more profitable too!

There was no breach of contract; HashFast either delivered the goods or issued (5% more than) full refunds to all Batch 1 customers.

The only people who find the ToS tiresome are those who fervently wish for a magical pony named Windfall, and won't let pesky, difficult concepts like

-buyer's remorse
-opportunity cost
-20/20 hindsight
-legal tender
-reasonability
-medium of exchange
-equity

block their righteous path to the promised land of contractually guaranteed free money.   

[cedivad]

Yes, sure, that was before the 15m$ they claimed to have made on sales.

But how do you spend freaking 15 millions dollars, in addition to the VC money? By not building the machines you were paid for? Like in first class air flares for every employe?

No, that's certainly not the case.

No company being sued for FRAUD would have ever done that.
Posted from Bitcointa.lk - #luAcL2UNC2e6T99Q

[HashFast_CL]

Yes, sure, that was before the 15m$ they claimed to have made on sales.

But how do you spend freaking 15 millions dollars, in addition to the VC money? By not building the machines you were paid for? Like in first class air flares for every employe?

No, that's certainly not the case.

No company being sued for FRAUD would have ever done that.
Posted from Bitcointa.lk - #luAcL2UNC2e6T99Q

We built the machines we were paid for; in some rare cases we issued (5% more than) 100% refunds.

Paying salaries/rent/taxes is expensive, R&D is expensive, tapeout is extremely expensive, wafers are expensive, fleshing out supply chains is expensive, assembly is expensive, QA is expensive, writing microcode/drivers is expensive, and paying lawyers (thanks to a couple of disgruntled customers who insisted on taking the legal route) is VERY expensive.

Trust me, HashFast isn't spending money on first class air 'flare' for every employee (I wish they would though).   

[cedivad]

We built the machines we were paid for [...]

But did your customers received them?

Why the hell you are not shipping the hardware?

Namely, for example, Sierras Batch 2?

I'm sorry that you have to pay lawyers with my money and that i had to double down my losses to get a fair compensation, really sorry.
Posted from Bitcointa.lk - #cCHHhG9BERzL1vuX

[ninjarobot]

Let's just agree to disagree when it comes to refunds and contractual obligations. I have a feeling this will have to be fought out in court or arbitration. Not here as it has already been discussed ad nauseam. (I do think potential new customers should be warned of the risks though)

Instead, HashFast_CL (As the community liaison and official spokesperson for HashFast on this forum) can you please help to make this thread more constructive by providing useful information including:

* Expected MPP shipments & quantities for Batch 1 customers.
* Upgrades shipment schedule
* Current production/logistical issues (if any)
* Upcoming firmware updates and cgminer improvements.
* Actual 'out-of-box' product specifications
* etc.

Can we just try to make the best out of a bad situation? Together? Show your customers you are willing to work with us, not against us.

[bkminer]

We built the machines we were paid for;

Then send me my FUCKING MACHINE YOU FUCK!

[cedivad]

Something is really wrong in here. (^^^)
Posted from Bitcointa.lk - #a0ONBAz2eHDucyY1

[Syke]

There was no breach of contract; HashFast either delivered the goods or issued (5% more than) full refunds to all Batch 1 customers.

Here's the contract.

The answer is if you buy Baby Jet for 51 BitCoins today and it does not ship, you will be refunded the 51 BitCoins you paid.

Who was refunded 105% BTC? No one? That's the breach.

[HashFast_CL]

There was no breach of contract; HashFast either delivered the goods or issued (5% more than) full refunds to all Batch 1 customers.

Here's the contract.

The answer is if you buy Baby Jet for 51 BitCoins today and it does not ship, you will be refunded the 51 BitCoins you paid.

"Contract?"

Sorry, but that's just a post on an internet forum, not a contract.  The ToS are binding, not statements made during an extended period of relative BTC/USD stability (just prior to an unpredictable and unprecedented explosion in BTC value).

Who was refunded 105% BTC? No one? That's the breach.

Not many customers took advantage of the full refund provision, but some did, and they have been paid (except for those windfall-seekers who returned the check and now tell lies about how HashFast sent them nothing).

If you refuse a more-than-full refund in legal tender (IE USD) there is no longer a breach to cure.

[HashFast_CL]

i think you got a chance there.

Sadly, I don't because I simple don't have the time— or emotional tolerance— to see these guys through to court. Fortunately other people are already in the process of suing them, so some amount of justice may still be served.

I started the heavy prodding in public when I saw they were soliciting more rubes to screw over, with only a mild hope that I'd ever see a dollar or a Bitcoin out of them— that maybe if they saw they they were going to be able to get away with the highly profitable task of pulling in more victims without complaint they might try to rescue things with their past customers.  I think that at least the recent noise has been successful at increasing a lot of awareness, and maybe saved some people a $6k loss, so thats all good.

If there is anything someone thinks I can easily do to help them recover please let me know.

You have time to complain to the forum, bother the State of Californa, and hire a lawyer.

But you don't have time to actually pursue a case in court?

More like, you know your quest for a ~600% gain for doing nothing is doomed to fail if it ever reached a proper venue.

Better stick to the court of public opinion, where your narrative of victimization may fool a few rubes.

"Emotional tolerance?"  IOW, you can't stand the idea of a judge ruling your demand for a free pony named Windfall is ludicrous.  That buyer's remorse is just awful, isn't it?   

[jimmothy]

You have time to complain to the forum, bother the State of Californa, and hire a lawyer.

But you don't have time to actually pursue a case in court?

More like, you know your quest for a ~600% gain for doing nothing is doomed to fail if it ever reached a proper venue.

Better stick to the court of public opinion, where your narrative of victimization may fool a few rubes.

"Emotional tolerance?"  IOW, you can't stand the idea of a judge ruling your demand for a free pony named Windfall is ludicrous.  That buyer's remorse is just awful, isn't it?   

Why did you agree to be a windfall?

How can you offer full btc refunds thinking the price will be stable? Are you new to bitcoin? Since the invention of bitcoin, we have yet to see a period longer than a few days let alone months where the price did not swing dramatically. If you did not understand that then you should not be doing business in bitcoin.

Then you create a windfall protection plan by offering possible compensation for delays.

Then you decide to give neither btc refunds or the extra hashing power which was the only reason people decided to go with your company.

Then you complain that it is the customers who are mistakenly looking for a windfall when you sold them a windfall.

Good luck in court.

[yxt]

Let's just agree to disagree when it comes to refunds and contractual obligations. I have a feeling this will have to be fought out in court or arbitration. Not here as it has already been discussed ad nauseam. (I do think potential new customers should be warned of the risks though)

Instead, HashFast_CL (As the community liaison and official spokesperson for HashFast on this forum) can you please help to make this thread more constructive by providing useful information including:

* Expected MPP shipments & quantities for Batch 1 customers.
* Upgrades shipment schedule
* Current production/logistical issues (if any)
* Upcoming firmware updates and cgminer improvements.
* Actual 'out-of-box' product specifications
* etc.

Can we just try to make the best out of a bad situation? Together? Show your customers you are willing to work with us, not against us.

[gmaxwell]

You have time to complain to the forum, bother the State of Californa, and hire a lawyer.

I have a standing relationship with an attorney for a multitude of reasons.  I don't know why you keep talking about "bother the state of california", I believe I've not yet ever communicated with the state of California on any matter what-so-ever, and certainly not you or your company. You need to discontinue your lying here.

More like, you know your quest for a ~600% gain for doing nothing is doomed to fail if it ever reached a proper venue.

Okay, release me from the forced arbitration clause so that there isn't ton of time wasted arguing about the venue— since you're so confident that you'll prevail— and I'll go head with lawsuit now that you've _finally_ admitted that you're planning on actually returning nothing at all— and not leaving me thinking that you just have not been getting my letters.

By taking my funds and giving absolutely nothing, no refund no product you are a thief. And perhaps really what I should be doing is perusing criminal charges. Your theft is not just a civil matter at this point: No theory of law enables you to take peoples funds and give them nothing and then argue that they've somehow forfeit your obligation because you've successfully ignored all their attempts to communicate or negotiate and they wouldn't take a tiny fractional one-sided 'settlement' with onerous additional terms.

[HashFast_CL]

what I should be doing is perusing criminal charges. Your theft is not just a civil matter at this point

Oh brother, could you possibly be more maudlin and self-pitying?   

A 105% refund is not "nothing" no matter how much you prefer a 600% windfall.

No court is going to ignore the fact you refused a refund in legal tender.

Have you read a Federal Reserve Note lately?  It does what it says on the label (settle all debts, public and private).