Topic: HashFast announces specs for new ASIC: 400GH/s - page 252. (Read 880461 times)

Ok, since that you are not a troll, and you are a batch 1 customer that acknowledges the list of lies of HF (because you can't deny them), why were you trolling us, saying they were issuing BTC refunds?

I have better things to do today...

cedivad I used to have respect in you but lately you have just become a big baby.

First I am not a Troll -  I am a batch one purchaser who chose to get my money back before you other make them  go bankrupt.  I still have a batch 3 order.  However the refunds in BTC is the current BTC to purchased cash price plus 5%.   So since I paid in btc, yes it would be awesome to get 45+ thousand dollars back.  But I am treating this as reality and I am just wanting the equiv. 5600$ plus 5% plus any transaction fees for the refund.  I paid 52BTC but just want to get out of this mess breaking even with what I had initially invested.  At least now I have liquidity to either reinvest with a 5% discount and free shipping or find another vendor that has more to offer.  Since all the vendors are going to be shipping soon, I think I will wait until the hash rate settles back down before jumping back in.

So where did icebreaker go?

But what amount of BTC? The amount of BTC one paid for an order? Or the USD adjusted rate?

That is not true, I talked to them yesterday and they said most of the refunds are being sent in BTC. 

Luke, Icedrill and a their new PCB rev. might disagree with you.

De Castro is confident his computers will still be profitable for customers and cheerfully calls his strategy “aiming the car straight at the biggest wall we could find and running into it with full speed.”

definitifely not HF, they don't have a working product.

Thanks for sharing - emailed the journalists. Too bad that they are able to reach them before we do.

So, anyone accepting bets on the ownership of the 4PH that just hit the network?

De Castro is confident his computers will still be profitable for customers and cheerfully calls his strategy “aiming the car straight at the biggest wall suckers we could find and gunning it.”

They clearly played us as investors.
http://www.businessweek.com/articles/2014-01-09/bitcoin-mining-chips-gear-computing-groups-competition-heats-up#p3

21e6?

So, anyone accepting bets on the ownership of the 4PH that just hit the network?

Yes, I did— or at least substantially. This is the norm in electronics manufacture, thats what investors are for, normally you don't have the customers funds before your design is done and manufactured. Pre-orders are unusual. Even in custom one off manufacture in the commercial market not only is payment normally provided _at delivery_ but goods are often invoiced net-30, so you won't get paid until sometime after delivery of the product.

Besides, you can factor out the exchange rate noise, just assume that the exchange rate was constant. In (some/most/all) states you are legally obligated to provide full refunds for pre-orders with fairly short notice on late delivery, and— obviously— in all states you are required to refund customers if you don't ship a product.  So they wouldn't have been able to meet even the most conventional of obligations, in the worst case (e.g. their design failed) if they'd been spending the pre-order funds to fund design and manufacturing.

In the mining space pre-order lets a maker lock in outsized prices and deny business to the competition by locking up the customers funds early. It might also be used to fund development and manufacture but if so, thats very risky, and may create all kind of adverse exposure for the business. Better to get investors with clearly established rights and obligations.

A typical company might take a year to 18 months to design and manufacture such a custom chip. De Castro and his partner, Simon Barber, a former engineer at the Palo Alto Research Center, tried to pull it off in a few months. They hired a team of 20 engineers and consultants and hunkered down for weeks in the offices of a local chip design consulting firm. Bills for those services ran into the millions, though HashFast had raised only $600,000 from friends and family. (Several family members balked at investing in what they called “Monopoly money,” de Castro says.) The HashFast partners raised the rest by preselling $15 million worth of mining rigs on the idea alone, without even a prototype. Naturally, the company took payment in Bitcoin.