HashFast converts large Batch 2 order to chips

[NotLambchop]

Dalkore.  StringTheory.  Cypherdoc.

"We're bitcoiners just like yourselves, and we're here to help."

[Legend21]

still dont get anything better by that update about refunds.

[Vagnavs]

Hello Bitcoin,

I want to confirm that in the last few weeks I have been talking extensively with Eduardo (C.E.O. of Hashfast Technologies) to understand and give outside feedback on ideas to address delivery and communication issues.   Outside of almost daily emails, we have had two-hours of in-depth discussions where I could really ask frank questions and get a good feel for what happened, ways to improve and the future.

I can attest that Eduardo is truly concerned with the current situation and really wants to move forward and make good on expectations set forth before.  He has demonstrated his commitment in this first step and assured me going forward things will be different.  I know many will be frustrated and I understand, I did my part as a member in the Bitcoin mining community to help get certainty for everyone.   Before I even started this process, I spent two days reading every comment I could (good & bad) to get a feel for the major issues so please know I care and did not rush into this.  I know I am taking a risk here but I do care about other miners and thought it was the right decision regardless on the reception this announcement gets.

In closing, we have been in constant communication with their engineering department and have independently tested their 3rd generation board design.  For testing we took their reference numbers and other data points and have confirmed their validity under this current design and have reproduced them, along with having some running as we write with no change.   We will be releasing this information soon along with support documentation we developed while going through this process.    We are also working with Hashfast to flesh out a new product design to increase density and performance.



Sincerely,

Dalkore
www.bitcoinasichosting.com

That's sad.. It doesn't matter at this point. HF should be refunding everyone and then some.. Fuck Edward, How many people's lives as he touched in a negative way?? People purchased units with the hope of getting some ROI. Instead, they have been given absolutely nothing.

[starsoccer9]

@Dalkore,

while I do believe company should in general have second chances I find that the 99% of the time they fil just like on their first chance. As much as I would like to believe hashfast has changed and eduardo really feels bad and wants to improve the reputation of the company there comes a tipping point where once its hit it becomes the point of no return. I believe there are many reasons why we hit this point and why I am sure we are far past the point. One example is I know of not one hashfast customer who is happy with them. This could be due to me not knowing to many customers but from everything I have read i have no seen one.

You mentioned you have read the thread which is good, Id also recommend you to read all of the blog posts as well as the hashfast twitter feed. Eventually you should notice as cedivad said that they have a pattern of lies follow by blaming someone else followed by a new lie. Also some of the lies have been erased as well from the twitter account so you may not see all of them. A great example is of a lie is the MPP. The MPP according to hashfast we always supposed to be delivered after the dead line which was january so basically they promised to deliver it in june. They then changed this to January because everyone complained as this was not how the MPP read or how it sounded. Yes you may think that was so nice of them, but its now nearly May and guess where the MPP is nowhere to be found. And guess what the last newsletter said relating to the MPP. It said sorry but your going to get the MPP in June.

Also I would make eduardo aware that giving users 2 Yoli Evo boards in june as the MPP instead of the promised 4 babyjet boards is the exact way a company would screw over there customers. I don't know if the 2 yoli evo boards is true or not, but I have a direct message on twitter from hashfast that tells me the MPP will be that. Also so you know the MPP was a promised 1.6 Terahashes or more. If you look on their site and skim through you will see the 2 yoli evo boards do 800ghash each which sounds right, but I would recommend you read the site closely so you can see the smaller text that hashfast is more/less trying to hide that says "Typical Bitcoin Mining Performance:  675 GH/" which is way less then the promised 1.6 terahashes.

So dalklore, I thank you for coming and attempting to help us out, but you can tell eduardo that if he wants to start making promises good he can start by making the MPP's "Typical Bitcoin Mining Performance" at least 1.6 Terahashes. Once he can fulfill one promise then maybe customers would give him a chance to fulfill another or maybe he can fulfill the promise that was to ship the MPP in January as promised.


Edit: Sorry forgot to mention about the now mass reselling hashfast is doing. I am not sure what you know so far, but from my understanding hashfast can not sell many if any products do to there ruined reptuation so the majority is being done by new sites popping up that are simply reselling hashfast products in new casing. The products that could be going to their batch 1 customers who were promised their MPP months ago.

Feel free to PM or email me and I can tell you any information you would like to know.

[Vagnavs]

So dalklore, I thank you for coming and attempting to help us out, but you can tell eduardo that if he wants to start making promises good he can start by making the MPP's "Typical Bitcoin Mining Performance" at least 1.6 Terahashes. Once he can fulfill one promise then maybe customers would give him a chance to fulfill another or maybe he can fulfill the promise that was to ship the MPP in January as promised.

WTH Is 1.6TH going to do at this point?

[Minor Miner]

What I will be interested in seeing is whether after the court appoints a receiver (assuming HF can be forced into bankruptcy) what actions will be taken against customers that received preferential treatment/deals etc. at the expense of other customers.
I know from reading other cases that with cash or securities, all the money would be taken back and then redistributed but what about something like this?   Obviously, Dalkore's customer is getting more economic benefit than other customers in the same position are receiving (at this point we are all creditors of this company).
I would think that a person with a large order (let's call it a $1M order for over 250 Sierras for argument's sake) would spend $20,000 on a good lawyers opinion about what would happen if other creditors that DID NOT get any preferential treatment put this company into bankruptcy before spending more money trying to salvage something from the first investment.
Have you done that to make sure you are within the law?

[Dalkore]

What I will be interested in seeing is whether after the court appoints a receiver (assuming HF can be forced into bankruptcy) what actions will be taken against customers that received preferential treatment/deals etc. at the expense of other customers.
I know from reading other cases that with cash or securities, all the money would be taken back and then redistributed but what about something like this?   Obviously, Dalkore's customer is getting more economic benefit than other customers in the same position are receiving (at this point we are all creditors of this company).
I would think that a person with a large order (let's call it a $1M order for over 250 Sierras for argument's sake) would spend $20,000 on a good lawyers opinion about what would happen if other creditors that DID NOT get any preferential treatment put this company into bankruptcy before spending more money trying to salvage something from the first investment.
Have you done that to make sure you are within the law?

Well taken points.  I have known about this order since ~Oct 2013 (need to get exact date from old emails).  From what I can tell we are early enough so that it would not be shown that we have gotten preferential treatment and I would add that if you knew what I am having to do, it is quite a bit more work and expense than originally expected.   We have waited months like everyone else, nothing odd their, just frustrating. 

Honestly I was surprised we decided to go this route all together. 


-D

[Minor Miner]

What I will be interested in seeing is whether after the court appoints a receiver (assuming HF can be forced into bankruptcy) what actions will be taken against customers that received preferential treatment/deals etc. at the expense of other customers.
I know from reading other cases that with cash or securities, all the money would be taken back and then redistributed but what about something like this?   Obviously, Dalkore's customer is getting more economic benefit than other customers in the same position are receiving (at this point we are all creditors of this company).
I would think that a person with a large order (let's call it a $1M order for over 250 Sierras for argument's sake) would spend $20,000 on a good lawyers opinion about what would happen if other creditors that DID NOT get any preferential treatment put this company into bankruptcy before spending more money trying to salvage something from the first investment.
Have you done that to make sure you are within the law?

Well taken points.  I have known about this order since ~Oct 2013 (need to get exact date from old emails).  From what I can tell we are early enough so that it would not be shown that we have gotten preferential treatment and I would add that if you knew what I am having to do, it is quite a bit more work and expense than originally expected.   We have waited months like everyone else, nothing odd their, just frustrating. 
Honestly I was surprised we decided to go this route all together. 
D

I am not pretending I know the answer to that question, just suggesting you find out.   Getting more than you put in is sometimes considered preferential treatment and you are getting many more chips than you originally paid for and one could argue that some of those chips are mine since I paid for them...   That was my point.   Pay a lawyer and ask him though.  I am guessing and was surprised by this article (not that actual article I read but same point and I cannot surf around to find the one).
http://consumerist.com/2010/03/01/some-madoff-victims-will-have-to-pay-the-money-back/

[fhh]

stop your boring announcements and start talking to your customers and answer their support requests
I'll NEVER got an answer from hashlate only automated responses

Thank you for contacting HashFast Sales.

We appreciate your inquiry, and will do our best to personally respond within one business day.

For tech support or questions on existing orders: support@hashfast.com

For all order refund requests: refunds@hashfast.com

Again, we appreciate your interest in HashFast and look forward to speaking with you soon.

Sincerely,

The Hash Fast Team

thats obviously a lie!!! 

[starsoccer9]

What I will be interested in seeing is whether after the court appoints a receiver (assuming HF can be forced into bankruptcy) what actions will be taken against customers that received preferential treatment/deals etc. at the expense of other customers.
I know from reading other cases that with cash or securities, all the money would be taken back and then redistributed but what about something like this?   Obviously, Dalkore's customer is getting more economic benefit than other customers in the same position are receiving (at this point we are all creditors of this company).
I would think that a person with a large order (let's call it a $1M order for over 250 Sierras for argument's sake) would spend $20,000 on a good lawyers opinion about what would happen if other creditors that DID NOT get any preferential treatment put this company into bankruptcy before spending more money trying to salvage something from the first investment.
Have you done that to make sure you are within the law?

Well taken points.  I have known about this order since ~Oct 2013 (need to get exact date from old emails).  From what I can tell we are early enough so that it would not be shown that we have gotten preferential treatment and I would add that if you knew what I am having to do, it is quite a bit more work and expense than originally expected.   We have waited months like everyone else, nothing odd their, just frustrating. 
Honestly I was surprised we decided to go this route all together. 
D

I am not pretending I know the answer to that question, just suggesting you find out.   Getting more than you put in is sometimes considered preferential treatment and you are getting many more chips than you originally paid for and one could argue that some of those chips are mine since I paid for them...   That was my point.   Pay a lawyer and ask him though.  I am guessing and was surprised by this article (not that actual article I read but same point and I cannot surf around to find the one).
http://consumerist.com/2010/03/01/some-madoff-victims-will-have-to-pay-the-money-back/

@dalkore is that true that you got more chips that paid for?

[gateway]

What are you going to be doing with all those chips? Check out sig