HashFast announces specs for new ASIC: 400GH/s - page 20.

pmorici

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Quote from: smoothie on December 15, 2014, 12:49:42 PM

Quote from: pmorici on December 15, 2014, 06:25:39 AM

Quote from: smoothie on December 14, 2014, 08:19:33 PM

iCEBREAKER can live in his broken reality but the fact that some US legal representative(s) do not see how the economics of Bitcoin works doesn't mean that what their ruling is right and just.

Fact is there hasn't been a single decision from any court yet dealing with the issues of Hashfast's promise of refunds, or the legality of Hashfast's shady business practices.

Icebreaker seems to think so. Did I misread that? Roll Eyes

No, you read what he wrote correctly; he is miss informed or misrepresenting what has happened so far to mean something it does not.

smoothie

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Quote from: pmorici on December 15, 2014, 06:25:39 AM

Quote from: smoothie on December 14, 2014, 08:19:33 PM

iCEBREAKER can live in his broken reality but the fact that some US legal representative(s) do not see how the economics of Bitcoin works doesn't mean that what their ruling is right and just.

Fact is there hasn't been a single decision from any court yet dealing with the issues of Hashfast's promise of refunds, or the legality of Hashfast's shady business practices.

Icebreaker seems to think so. Did I misread that? Roll Eyes

pmorici

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Quote from: smoothie on December 14, 2014, 08:19:33 PM

iCEBREAKER can live in his broken reality but the fact that some US legal representative(s) do not see how the economics of Bitcoin works doesn't mean that what their ruling is right and just.

Fact is there hasn't been a single decision from any court yet dealing with the issues of Hashfast's promise of refunds, or the legality of Hashfast's shady business practices.

bestsponsor

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Flashman

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Hodl!

Quote from: RoadStress on December 14, 2014, 08:44:23 PM

Quote from: smoothie on December 14, 2014, 08:20:29 PM

After my own delay on paying I decided to wait until they had a product before I would consider buying anything.

Preorder bullshit is simply that...bullshit.

Actually the preorder model is bullshit because manufacturers promise something which they know it will never be possible. HF knew they will never be able to fully refund everyone in case something went wrong so they decided to go all in and promise a bunch of lies to get the maximum amount of money in one run so they can make them vanish.

It was kind of a big clue in the beginning that they were basically saying they wouldn't accept credit cards, because people WOULD cancel WHEN they were late shipping.

smoothie

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Quote from: vokain on December 14, 2014, 09:02:08 PM

I really don't get it, do people not value their life's character that much to throw it away on a scam? For what?

And so I learn Simon abuses Xanax (has a prescription--same thing) so that explains part of it.

Here is my simple explanation: Scammers are lazy people.

Nothing complex about it. Cheesy

vokain

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I really don't get it, do people not value their life's character that much to throw it away on a scam? For what?

And so I learn Simon abuses Xanax (has a prescription--same thing) so that explains part of it.

RoadStress

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Quote from: smoothie on December 14, 2014, 08:20:29 PM

After my own delay on paying I decided to wait until they had a product before I would consider buying anything.

Preorder bullshit is simply that...bullshit.

Actually the preorder model is bullshit because manufacturers promise something which they know it will never be possible. HF knew they will never be able to fully refund everyone in case something went wrong so they decided to go all in and promise a bunch of lies to get the maximum amount of money in one run so they can make them vanish. Just like BFL lied about a delivery date that was before the real chip tape out the same way HF was flashing the Uniquify shit (still in the OP) to later blame them on the fail.

smoothie

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Quote from: vokain on December 14, 2014, 08:19:05 PM

Quote from: smoothie on December 14, 2014, 08:16:30 PM

Quote from: Syke on December 14, 2014, 08:10:31 PM

Quote from: smoothie on December 14, 2014, 08:06:27 PM

Yup this is exactly how I see it. HF really produced very little things of value in the end.

What was the percentage of customers that actually got a working product? 5%? 10%? 2%?

Was there even a single customer that got all of what they purchased, including the MPP machines?

You could ask Cypherdoc he might know.

He supposedly got something. Not sure if he got MPP's though.

This company was one bullet I dodged as I was going to purchased two baby jets (or whatever they were called) in August 2013 and because one of my computers/wallets was acting up which disallowed me to go through with the purchase I never lost a penny to these thieves.

Lucky!!

After my own delay on paying I decided to wait until they had a product before I would consider buying anything.

Preorder bullshit is simply that...bullshit.

smoothie

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I'll just repeat this here....

The MPP was HashFast's attempt to make sure that their customers who got their hardware late could recoup the lost opportunity to mine BTC at a lower difficulty because they were having delays getting customer's their hardware.

This in itself shows that HF was looking at the amount of BTC customers paid in terms of payment...not USD.

iCEBREAKER can live in his broken reality but the fact that some US legal representative(s) do not see how the economics of Bitcoin works doesn't mean that what their ruling is right and just.

Everyday there are stupid judgements that are given in the US court system. And to take that as the benchmark of what is right and wrong is being ignorant.

vokain

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Quote from: smoothie on December 14, 2014, 08:16:30 PM

Quote from: Syke on December 14, 2014, 08:10:31 PM

Quote from: smoothie on December 14, 2014, 08:06:27 PM

Yup this is exactly how I see it. HF really produced very little things of value in the end.

What was the percentage of customers that actually got a working product? 5%? 10%? 2%?

Was there even a single customer that got all of what they purchased, including the MPP machines?

You could ask Cypherdoc he might know.

He supposedly got something. Not sure if he got MPP's though.

This company was one bullet I dodged as I was going to purchased two baby jets (or whatever they were called) in August 2013 and because one of my computers/wallets was acting up which disallowed me to go through with the purchase I never lost a penny to these thieves.

Lucky!!

smoothie

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Quote from: Syke on December 14, 2014, 08:10:31 PM

Quote from: smoothie on December 14, 2014, 08:06:27 PM

Yup this is exactly how I see it. HF really produced very little things of value in the end.

What was the percentage of customers that actually got a working product? 5%? 10%? 2%?

Was there even a single customer that got all of what they purchased, including the MPP machines?

You could ask Cypherdoc he might know.

He supposedly got something. Not sure if he got MPP's though.

This company was one bullet I dodged as I was going to purchased two baby jets (or whatever they were called) in August 2013 and because one of my computers/wallets was acting up which disallowed me to go through with the purchase I never lost a penny to these thieves.

smoothie

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Quote from: Micky25 on December 13, 2014, 04:21:54 AM

I'm pretty sure HF would have canceled all orders and refunded everyone in BTC - if the BTC price went down to $10 in December 13.

This ^.

And they would stand to make a profit by doing basically nothing.

Only because the circumstances would have been different.

Syke

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Quote from: smoothie on December 14, 2014, 08:06:27 PM

Yup this is exactly how I see it. HF really produced very little things of value in the end.

What was the percentage of customers that actually got a working product? 5%? 10%? 2%?

Was there even a single customer that got all of what they purchased, including the MPP machines?

smoothie

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Quote from: RoadStress on December 13, 2014, 07:18:05 PM

Quote from: SolarSilver on December 13, 2014, 07:01:26 PM

Quote from: iCEBREAKER on December 13, 2014, 12:03:59 AM

How was HF supposed to pay for the pre-ordered devices to be built, if they didn't convert the BTC? Magical charity elves? Cargo cult ceremonies?

So if all the BTC was converted in cash to pay for pre-ordered devices, how would they ever be able to provide a USD refund?

They were never able to provide a USD refund for everyone. That was a lie from day 1 just like MPP and everything else.

Is it so hard to obtain the documents that contain the company's expenses? Because I really wonder how can they make so much money simply vanish. I refuse to think that HF spend ~40M$ on chips and board revisions and components.

So based on iCEBREAKER's statement HashFast's customers were not customers but investors as their money was used to develop the chips for the company to sell right?

There is a big difference if HF actually paid for their chips with VC monies instead of preorder customer monies. This is just one of the wrong things about the business model. Much like BFL's...

Roll Eyes

smoothie

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Quote from: RoadStress on December 14, 2014, 07:10:53 PM

Quote from: cedivad on December 14, 2014, 07:07:33 PM

Quote from: RoadStress on December 14, 2014, 06:13:28 PM

Let's make a short HF recap. They cashed in what? 40M$? 50M$? They refunded under 500k$ (I think) and they shipped what? One Batch of miners? Where are the rest of the money? A 28nm maskset should be ~5M$ or even less. HF team was either a retard to sink all the money into useless shit or they found a way to siphon the money out of the company for their own benefit.

Your numbers are a bit off, but the order of magnitude of difference between what they took in and the cost to produce what we bought is still there...

Well I pulled the numbers out of my belly because of my bad memory, but that's exactly what I was trying to highlight. That HF was a money black hole and this is only done by someone very very stupid or someone that had a plan to siphon money.

Edit: Btw there was a financial audit on HF? Or this is not done when companies declare bankruptcy?

Yup this is exactly how I see it. HF really produced very little things of value in the end.

What was the percentage of customers that actually got a working product? 5%? 10%? 2%?

RoadStress

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Quote from: cedivad on December 14, 2014, 07:07:33 PM

Quote from: RoadStress on December 14, 2014, 06:13:28 PM

Let's make a short HF recap. They cashed in what? 40M$? 50M$? They refunded under 500k$ (I think) and they shipped what? One Batch of miners? Where are the rest of the money? A 28nm maskset should be ~5M$ or even less. HF team was either a retard to sink all the money into useless shit or they found a way to siphon the money out of the company for their own benefit.

Your numbers are a bit off, but the order of magnitude of difference between what they took in and the cost to produce what we bought is still there...

Well I pulled the numbers out of my belly because of my bad memory, but that's exactly what I was trying to highlight. That HF was a money black hole and this is only done by someone very very stupid or someone that had a plan to siphon money.

Edit: Btw there was a financial audit on HF? Or this is not done when companies declare bankruptcy?

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Quote from: RoadStress on December 14, 2014, 06:13:28 PM

Let's make a short HF recap. They cashed in what? 40M$? 50M$? They refunded under 500k$ (I think) and they shipped what? One Batch of miners? Where are the rest of the money? A 28nm maskset should be ~5M$ or even less. HF team was either a retard to sink all the money into useless shit or they found a way to siphon the money out of the company for their own benefit.

Your numbers are a bit off, but the order of magnitude of difference between what they took in and the cost to produce what we bought is still there...

Flashman

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Hodl!

Quote from: RoadStress on December 14, 2014, 06:13:28 PM

A 28nm maskset should be ~5M$ or even less.

At the start of 2013 it looked like 10M, which led to a belief that nobody would get miners made on 28nm for a year, however, due to huge overbuilding of fab capacity, 28nm got suddenly cheap, not quite sure how cheap but by beginning of Q3 I think ~2M seemed to be a reasonable guesstimate, fire sale on 28nm. Which is probably what encouraged all sorts of clowns to take a punt.

iCEBREAKER

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Crypto is the separation of Power and State.

Quote from: RoadStress on December 14, 2014, 06:13:28 PM

Quote from: iCEBREAKER on December 14, 2014, 05:32:34 PM

YES IT WAS ALL AN ELABORATE FRAUD! YOU CAUGHT US. ZOMG HOW DID YOU KNOW? YOU ARE TOO SMART FOR US!

Let's make a short HF recap. They cashed in what? 40M$? 50M$? They refunded under 500k$ (I think) and they shipped what? One Batch of miners? Where are the rest of the money? A 28nm maskset should be ~5M$ or even less. HF team was either a retard to sink all the money into useless shit or they found a way to siphon the money out of the company for their own benefit.

ZOMG YES YOU CAUGHT HASHFAST WITH YOUR SMART QUESTIONS THAT HAVE NEVER EVAR BEEN ANSWERED BEFORE!

IF ONLY JUDGE MONTALI AND THE 12+ OTHER SPECIALIZED LAWYERS WERE AS SMART AS YOU THEY WOULD HAVE BEEN ABLE TO FIND OUT ABOUT HASHFAST'S SEKRIT SIPHONED MONEY SINK.

YOU ARE TOO CLEVAR FOR HASHFAST. THE BANKRUPTCY COURT SHOULD HIRE YOU TO HALP THEM BECAUSE THEY ARE BLIND DEAF AND DUMB BUT YOU CANNOT BE FOOLED.

LET'S KEEP REHASHING THE COURT'S WORK OVER AND OVER AND PRETENDING THEY MISSED SOMETHING BECAUSE THAT WILL PROVE THE JUDGE WAS WRONG AND HASHFAST SHOULD BE IN CHAPTER 7 NOT CHAPTER 11!!!11!!!!11!!!11!

Topic: HashFast announces specs for new ASIC: 400GH/s - page 20. (Read 880450 times)