Good news!? HF shipping??
I'll believe it when we see it as this could be a HF scam to settle fears but this sounds like a bit of progress.
Anyone know if they are the only ones who got a unit?
As to the vote, Ill vote D for now and hope that we get the unit in hand. to everyone who is happy with screwing USD investors who did not have a choice to buy BTC locally, I truly am disappointed but not in the least bit surprised.
If they do not deliver, I vote for a cash refund that we could get as opposed to a btc refund we could wait for life never to see.
One thing is for sure, I will not invest another dime in this scam.
For the investors in R3-R4 I feel for you, I am not an investor in those groups but I think that this discussion is relevant for them as well.
I still wish everyone the best of luck.
Topic: [CLOSED*]R1B: HashFast Baby Jet Upgrade Promo - DZ MC Round 1. Batch 1. Mahalo! - page 3. (Read 13839 times)
January 21, 2014, 01:19:38 PM
January 21, 2014, 11:33:03 AM
Should we be part of this?
Given all this, here are some calculations and estimations, for batch 1 customers.
* Accepting the offered USD refund would mean a ~88% loss. (Or 92,5%, if you have to pay income taxes after your "sold" BTC.)
* According to some calculations (which are hard to make, since the delivery date of the MPP is not known), accepting the late delivery,
and starting mining would mean a ~ 80% - 90% loss.
For those who don't like either of the above two options, especially since we got pulled into this situation by the dishonest behavior of HF, there is a third option: litigation against HashFast.
As I have already mentioned, we have a lawyer, who is managing the mass action case against HF. (For batch 1 customers that have paid in BTC.)
So,
* if you are a batch 1 customer, and you have paid in BTC, and you have not yet done so, you might want to contact "Ray E. Gallo" <[email protected]>, and ask to join the case.
* if you have already contacted him, and got your contract draft, then you were probably invited the the second t-conf, which was held ~5 days ago. If you would like to continue the discussion, please send me the agreed password (or the pass-code of the t-conf), so that I can add you to the relevant mailing list.
* If you have already signed the contract, you have no further tasks, for now.
- HF (Aug
- Buy your BJ now! In stock! Shipping Oct 20-30! Payments in BTC only. - Me - OK. I'll buy a BJ. Here is 60 BTC
- HF - Thanks! You can totally trust us. We want our customers to succeed!
- Me (Oct 30) - Where is my product?
- HF - There is no product. Did we say Oct 20? We meant Dec 31st.
- Me (Jan 1) - Where is my product?
- HF - There is no product. Did we say Dec 31st? We meant Jan 28.
- Me - If there is no product there is no sale. Can I please get my BTC payment back as per the ToS?
- HF - No. But here is a USD check worth 7.2 BTC (or 4.5 BTC after paying taxes)
- Me - ಠ_ಠ ~Dafuq!?
- HF - Have a nice day! Come again!
Given all this, here are some calculations and estimations, for batch 1 customers.
* Accepting the offered USD refund would mean a ~88% loss. (Or 92,5%, if you have to pay income taxes after your "sold" BTC.)
* According to some calculations (which are hard to make, since the delivery date of the MPP is not known), accepting the late delivery,
and starting mining would mean a ~ 80% - 90% loss.
For those who don't like either of the above two options, especially since we got pulled into this situation by the dishonest behavior of HF, there is a third option: litigation against HashFast.
As I have already mentioned, we have a lawyer, who is managing the mass action case against HF. (For batch 1 customers that have paid in BTC.)
So,
* if you are a batch 1 customer, and you have paid in BTC, and you have not yet done so, you might want to contact "Ray E. Gallo" <[email protected]>, and ask to join the case.
* if you have already contacted him, and got your contract draft, then you were probably invited the the second t-conf, which was held ~5 days ago. If you would like to continue the discussion, please send me the agreed password (or the pass-code of the t-conf), so that I can add you to the relevant mailing list.
* If you have already signed the contract, you have no further tasks, for now.
January 21, 2014, 12:22:02 AM
who wants to buy my 1 share for usd?
pm a reasonable offer for it.
keep your share Philpm a reasonable offer for it.
https://bitcointalksearch.org/topic/guess-who-got-a-hashfast-baby-jet-today-425019
January 20, 2014, 06:36:22 PM
I feel the same as philipma1957. I'm not on for a fight, which I think will cost us all the possible money and for us to lose. I would rather just cash in now and forget this mess.
I swear I'm not joining an Group Buys again.
Phil
I swear I'm not joining an Group Buys again.
Phil
January 20, 2014, 10:34:06 AM
... just wanted to add - legal action will not be quick,
but I think it's important to let HF know that we are taking
it and are very serious about it as fast as possible. They might
offer us some settlement (like, a full refund
) while they still have some money left.
but I think it's important to let HF know that we are taking
it and are very serious about it as fast as possible. They might
offer us some settlement (like, a full refund
) while they still have some money left.If we go to court it will take more then a year to collect. If Dz Coop is even around to continue the legal battle It would be more money in the long run, but honestly I would would be willing to sell my share for usd today at 100 bucks. Waiting for this is not my cup of tea.
I get that if you have 5 or 10 shares x 1.55 btc it would be worth it. I have only 1 share. I would rather let go and forget this.
So first to pay me the 100 usd has my 1 share.
January 20, 2014, 08:43:23 AM
I am not voting A. You have to be kidding. Nor D.
B or C please.
B preferred.
B or C please.
B preferred.
+1 for me. B or C.
January 20, 2014, 08:27:20 AM
... just wanted to add - legal action will not be quick,
but I think it's important to let HF know that we are taking
it and are very serious about it as fast as possible. They might
offer us some settlement (like, a full refund ) while they still have some money left.
but I think it's important to let HF know that we are taking
it and are very serious about it as fast as possible. They might
offer us some settlement (like, a full refund
) while they still have some money left. January 20, 2014, 12:08:12 AM
I am not voting A. You have to be kidding. Nor D.
B or C please.
B preferred.
B or C please.
B preferred.
January 17, 2014, 05:10:09 PM
I vote B. Though I see how those who paid in USD could be unhappy with this decision, and also
there'll be the question of what to do with the extra money shall we get a full refund.
C is also acceptable to me.
Someone ntoed in the HF thread that cashing the refund check may seriously undermine our position in court (i.e. it may be interpreted as we accepted the terms of the refund). If this is the case I'd prefer not to cash the check but wait for the result of the legal proceedings
there'll be the question of what to do with the extra money shall we get a full refund.
C is also acceptable to me.
Someone ntoed in the HF thread that cashing the refund check may seriously undermine our position in court (i.e. it may be interpreted as we accepted the terms of the refund). If this is the case I'd prefer not to cash the check but wait for the result of the legal proceedings
January 17, 2014, 03:36:42 PM
I would love my initial BTC, but I will just vote for taking $$$$ now. I don't want any part of a lawyer or costs there.
Phil
Phil
January 17, 2014, 02:49:17 PM
If anyone is not following this discussion on R2 (B) then let me inform you on whats happening.
Its been proposed that people who paid there shares in USD for round 1 will be paid back in USD if and when we get a refund. The refund if legal action is successful will return the 62 BTC paid by us.
This means by my calculations that 48 BTC would be paid back to the original investors - the legal costs. This leaves close to 14 BTC left to payout the USD share holders.
Deducting the $1395 for 9 shares there is a profit of close to $10,000 remaining.
There was a suggestion that the founding members of the DZ co-op will have a vote to decide as to what they will do about this. This vote would not be by the original shareholders but by a non-disclosed group.
I propose a vote by active share holders on what we should do.
Shareholders are defined as people who have shares in R1 and there shares count as votes.
i.e you have 3 shares thats 3 votes of the total.
We have the following choices.
A) We take the refund in USD
B) We take Hashfast to court at the expense of the DZ co-op management BTC shareholders are paid in BTC USD shareholders are paid USD
C) We take hashfast to court our expense, if refunded we divide the refund as per share paid
D) We wait and hope that Hashfast delivers
The shareholders of R1 are
DyslexicZombei 8
Anonymous 8
jungle_dave 2
kaz911 2
milkbottlec 2
hannibal42 1
trout 2
Hektek 1
philipma1957 1
abuelau 2
BeepBeep2 1
filharvey 1
Adamln 1
firsttimeuser 4
mazza 2
-Redacted 2
Please cast your vote so that we can put this business behind us.
Its been proposed that people who paid there shares in USD for round 1 will be paid back in USD if and when we get a refund. The refund if legal action is successful will return the 62 BTC paid by us.
This means by my calculations that 48 BTC would be paid back to the original investors - the legal costs. This leaves close to 14 BTC left to payout the USD share holders.
Deducting the $1395 for 9 shares there is a profit of close to $10,000 remaining.
There was a suggestion that the founding members of the DZ co-op will have a vote to decide as to what they will do about this. This vote would not be by the original shareholders but by a non-disclosed group.
I propose a vote by active share holders on what we should do.
Shareholders are defined as people who have shares in R1 and there shares count as votes.
i.e you have 3 shares thats 3 votes of the total.
We have the following choices.
A) We take the refund in USD
B) We take Hashfast to court at the expense of the DZ co-op management BTC shareholders are paid in BTC USD shareholders are paid USD
C) We take hashfast to court our expense, if refunded we divide the refund as per share paid
D) We wait and hope that Hashfast delivers
The shareholders of R1 are
DyslexicZombei 8
Anonymous 8
jungle_dave 2
kaz911 2
milkbottlec 2
hannibal42 1
trout 2
Hektek 1
philipma1957 1
abuelau 2
BeepBeep2 1
filharvey 1
Adamln 1
firsttimeuser 4
mazza 2
-Redacted 2
Please cast your vote so that we can put this business behind us.
But what about R3 and R4? They are also in the same situation as we. no? This means that to take HF to court at "our expense" could actually be split with R3 and R4 if they agree.
January 17, 2014, 02:33:22 PM
If anyone is not following this discussion on R2 (B) then let me inform you on whats happening.
Its been proposed that people who paid there shares in USD for round 1 will be paid back in USD if and when we get a refund. The refund if legal action is successful will return the 62 BTC paid by us.
This means by my calculations that 48 BTC would be paid back to the original investors - the legal costs. This leaves close to 14 BTC left to payout the USD share holders.
Deducting the $1395 for 9 shares there is a profit of close to $10,000 remaining.
There was a suggestion that the founding members of the DZ co-op will have a vote to decide as to what they will do about this. This vote would not be by the original shareholders but by a non-disclosed group.
I propose a vote by active share holders on what we should do.
Shareholders are defined as people who have shares in R1 and there shares count as votes.
i.e you have 3 shares thats 3 votes of the total.
We have the following choices.
A) We take the refund in USD
B) We take Hashfast to court at the expense of the DZ co-op management BTC shareholders are paid in BTC USD shareholders are paid USD
C) We take hashfast to court our expense, if refunded we divide the refund as per share paid
D) We wait and hope that Hashfast delivers
The shareholders of R1 are
DyslexicZombei 8
Anonymous 8
jungle_dave 2
kaz911 2
milkbottlec 2
hannibal42 1
trout 2
Hektek 1
philipma1957 1
abuelau 2
BeepBeep2 1
filharvey 1
Adamln 1
firsttimeuser 4
mazza 2
-Redacted 2
Please cast your vote so that we can put this business behind us.
Its been proposed that people who paid there shares in USD for round 1 will be paid back in USD if and when we get a refund. The refund if legal action is successful will return the 62 BTC paid by us.
This means by my calculations that 48 BTC would be paid back to the original investors - the legal costs. This leaves close to 14 BTC left to payout the USD share holders.
Deducting the $1395 for 9 shares there is a profit of close to $10,000 remaining.
There was a suggestion that the founding members of the DZ co-op will have a vote to decide as to what they will do about this. This vote would not be by the original shareholders but by a non-disclosed group.
I propose a vote by active share holders on what we should do.
Shareholders are defined as people who have shares in R1 and there shares count as votes.
i.e you have 3 shares thats 3 votes of the total.
We have the following choices.
A) We take the refund in USD
B) We take Hashfast to court at the expense of the DZ co-op management BTC shareholders are paid in BTC USD shareholders are paid USD
C) We take hashfast to court our expense, if refunded we divide the refund as per share paid
D) We wait and hope that Hashfast delivers
The shareholders of R1 are
DyslexicZombei 8
Anonymous 8
jungle_dave 2
kaz911 2
milkbottlec 2
hannibal42 1
trout 2
Hektek 1
philipma1957 1
abuelau 2
BeepBeep2 1
filharvey 1
Adamln 1
firsttimeuser 4
mazza 2
-Redacted 2
Please cast your vote so that we can put this business behind us.
for me it just 1 share while I like the idea of 1.55 btc plus 43 usd for the upgrade option.. I would take 200 usd and be done with it.
January 17, 2014, 02:10:17 PM
If anyone is not following this discussion on R2 (B) then let me inform you on whats happening.
Its been proposed that people who paid there shares in USD for round 1 will be paid back in USD if and when we get a refund. The refund if legal action is successful will return the 62 BTC paid by us.
This means by my calculations that 48 BTC would be paid back to the original investors - the legal costs. This leaves close to 14 BTC left to payout the USD share holders.
Deducting the $1395 for 9 shares there is a profit of close to $10,000 remaining.
There was a suggestion that the founding members of the DZ co-op will have a vote to decide as to what they will do about this. This vote would not be by the original shareholders but by a non-disclosed group.
I propose a vote by active share holders on what we should do.
Shareholders are defined as people who have shares in R1 and there shares count as votes.
i.e you have 3 shares thats 3 votes of the total.
We have the following choices.
A) We take the refund in USD
B) We take Hashfast to court at the expense of the DZ co-op management BTC shareholders are paid in BTC USD shareholders are paid USD
C) We take hashfast to court our expense, if refunded we divide the refund as per share paid
D) We wait and hope that Hashfast delivers
The shareholders of R1 are
DyslexicZombei 8
Anonymous 8
jungle_dave 2
kaz911 2
milkbottlec 2
hannibal42 1
trout 2
Hektek 1
philipma1957 1
abuelau 2
BeepBeep2 1
filharvey 1
Adamln 1
firsttimeuser 4
mazza 2
-Redacted 2
Please cast your vote so that we can put this business behind us.
Its been proposed that people who paid there shares in USD for round 1 will be paid back in USD if and when we get a refund. The refund if legal action is successful will return the 62 BTC paid by us.
This means by my calculations that 48 BTC would be paid back to the original investors - the legal costs. This leaves close to 14 BTC left to payout the USD share holders.
Deducting the $1395 for 9 shares there is a profit of close to $10,000 remaining.
There was a suggestion that the founding members of the DZ co-op will have a vote to decide as to what they will do about this. This vote would not be by the original shareholders but by a non-disclosed group.
I propose a vote by active share holders on what we should do.
Shareholders are defined as people who have shares in R1 and there shares count as votes.
i.e you have 3 shares thats 3 votes of the total.
We have the following choices.
A) We take the refund in USD
B) We take Hashfast to court at the expense of the DZ co-op management BTC shareholders are paid in BTC USD shareholders are paid USD
C) We take hashfast to court our expense, if refunded we divide the refund as per share paid
D) We wait and hope that Hashfast delivers
The shareholders of R1 are
DyslexicZombei 8
Anonymous 8
jungle_dave 2
kaz911 2
milkbottlec 2
hannibal42 1
trout 2
Hektek 1
philipma1957 1
abuelau 2
BeepBeep2 1
filharvey 1
Adamln 1
firsttimeuser 4
mazza 2
-Redacted 2
Please cast your vote so that we can put this business behind us.
January 14, 2014, 07:59:04 PM
UPDATE: They're forcing USD refunds on people that didn't request them if you missed that in the CH forum yesterday. If this is forced on us, we are *not* cashing this refund check worth about 1/8th of our orig. BTC sent for R1-4, and will consult with our legal team.
It was a major PITA to get all the evidence in place, and in chronological order for our attorneys but HashFast heard from our attorneys yesterday and we have an official support ticket in the system, FWIW. It's also been a drain on the co-op's energy to have to fight this in the middle of the move/expansion.
We're doing our best to get full BTC refunds for everyone that bought into R1-4 with Bitcoin (except for R2, which was orig. bought via Wire Transfer by someone else so it will be in USD; the upgrade R2B was paid in BTC).
To fight to get this full BTC refunds for us and to make sure we were represented by a battle tested legal team, we plan on deducting the legal costs among the 4 rounds. We estimate this cost to be about $250-300 at this time (could go up if we go to arbitration).
That would work out to about $2.50-$3 per R1-4 share (which includes upgrades for R1-2). The upside is: for those that bought GB shares with bitcoin, if we get our full BTC back from HashFast, even with this small deduction for legal expenses you'd be refunded 6-9x your USD value back from your original BTC purchase amount(s) depending on when you bought your GB shares.
If you paid in USD, these refund terms and legal fees don't apply, and we will send back the original USD amount(s) sent when our full refund arrives.
It was a major PITA to get all the evidence in place, and in chronological order for our attorneys but HashFast heard from our attorneys yesterday and we have an official support ticket in the system, FWIW. It's also been a drain on the co-op's energy to have to fight this in the middle of the move/expansion.
We're doing our best to get full BTC refunds for everyone that bought into R1-4 with Bitcoin (except for R2, which was orig. bought via Wire Transfer by someone else so it will be in USD; the upgrade R2B was paid in BTC).
To fight to get this full BTC refunds for us and to make sure we were represented by a battle tested legal team, we plan on deducting the legal costs among the 4 rounds. We estimate this cost to be about $250-300 at this time (could go up if we go to arbitration).
That would work out to about $2.50-$3 per R1-4 share (which includes upgrades for R1-2). The upside is: for those that bought GB shares with bitcoin, if we get our full BTC back from HashFast, even with this small deduction for legal expenses you'd be refunded 6-9x your USD value back from your original BTC purchase amount(s) depending on when you bought your GB shares.
If you paid in USD, these refund terms and legal fees don't apply, and we will send back the original USD amount(s) sent when our full refund arrives.
January 11, 2014, 07:51:58 AM
Any updates ?
Have we claimed the refund yet ?
January 09, 2014, 04:50:27 AM
http://hashfast.org/Main_Page
good reading
good reading
January 07, 2014, 11:25:17 AM
wow a btc refund for r1 would be really nice. I dug up my payment info.
https://bitcointalksearch.org/topic/m.2948629
https://blockchain.info/tx/53a634c037e1e8cadff640824d12e088f423e5625f86876f00c0466fa10d05f1
it was 1.55 btc and that is more then 1300usd now.
https://bitcointalksearch.org/topic/m.2948629
https://blockchain.info/tx/53a634c037e1e8cadff640824d12e088f423e5625f86876f00c0466fa10d05f1
it was 1.55 btc and that is more then 1300usd now.
January 07, 2014, 07:05:19 AM
thanks, DZ - all our hopes are with you !!
January 07, 2014, 02:16:27 AM
thanks very much DZ, thomas, and all.
Like I said: fighting this tooth and nail.
As usual: working my okole (ass) off for you guys.
Since R2 has a slim chance of refund in BTC, we may want to rethink.
might as well run this thing, and get the most out of it (i.e. the late-also-additional-hashrate thing).
and pray so BTC keeps on going up.
R2 may not have the luxury of fighting for a full BTC refund because we bought this out from someone that wired their money instead of sending BTC, but for R1, you better believe I'm fighting the good fight for you and me. We'll do the best we can for R2 but we may be stuck with a USD refund for R2. You can pass that on to R2, if you want. Busy as you know what at the moment.
Like I said: fighting this tooth and nail.
As usual: working my okole (ass) off for you guys.
Since R2 has a slim chance of refund in BTC, we may want to rethink.
might as well run this thing, and get the most out of it (i.e. the late-also-additional-hashrate thing).
and pray so BTC keeps on going up.
R2 may not have the luxury of fighting for a full BTC refund because we bought this out from someone that wired their money instead of sending BTC, but for R1, you better believe I'm fighting the good fight for you and me. We'll do the best we can for R2 but we may be stuck with a USD refund for R2. You can pass that on to R2, if you want. Busy as you know what at the moment.
January 07, 2014, 01:42:25 AM
Yeah we will not get refund in BTC for R2, fingers crossed for R1.
I would keep R2 gear for hushing it could make more $$ than refund for it.
Good Luck DZ, Thomas
I would keep R2 gear for hushing it could make more $$ than refund for it.
Good Luck DZ, Thomas
Jump to: