Topic: HashFast announces specs for new ASIC: 400GH/s - page 276. (Read 880461 times)

No, the sad truth is that most customers will just quietly bend over and accept their delays and broken promises. Very few will actually DEMAND compensation and fair treatment.

For that reason, I will be smiling with my original investment in this sad pathetic little company returned, while others will still be waiting on delivery of a piece of equipment that will not possibly ever come close to returning their original investment.

Sad but true.

Yes exactly it is the norm in electronics manufacturing that does not require a pre-order and an EXTREMELY short time to market before people want their money back which is not the case here. Normally this would be handled via something like Kickstarter which usually offers ZERO refunds.

The only reason HF would need to conduct a pre-order is because they needed pre-order funds to complete their product. Originally they said they had investors and would not do a pre-order model but once they opened pre-orders it was clear that they did not have the funding required and would be spending pre-order funds to complete their product making it impossible to give all customers 100% refunds in ANY currency much less the volatile BTC. I felt similar with KNC since they actually offered full US refunds at any point prior to when you order "entered production". They also could not actually guarantee that promise in a situation where BTC bottoms out and the vast majority of all customers request a refund. If that happened I would not be surprised despite their "guarantee" of full refunds. It's a gamble no matter which horse you bet on but the people thinking it's even possible to get a full BTC refund need to readjust their expectations because it's just not possible regardless if they deserve it or not.

/sadtruth

In the opposite direction and NOT towards them obviously 

rofl.  Anyways, I cross posted this into the cointerra thread, belongs there.

When you see butterflies....run...as fast as you can!

Here is what the seller says
"
They are in Texas where my brother works. He works for Cointerra. I'm flying there this weekend to pick them up in time for the auctions to close and then shipping them to winning bidders.

- butterfliesandthings
"

My bad looks like pics are cointerra.  Where is cointerra located?

http://feedback.ebay.com/ws/eBayISAPI.dll?ViewFeedback2&userid=butterfliesandthings&ftab=FeedbackAsSeller

he has only sold $14.95 products,stay well away

They said it is cointerra, although I'd love to know how that could happen, since cointerra would be jumping all over the place if they had shipped anything.

Looks like a CT box, HF doesn't have that kind of board design and their "fastest" product is only 1.2TH with 3 chip/boards.

Who the hell is bidding on a box with no manufacturer info?? In hand 2th miner? From some unknown person?

Fancy lawyer speak = Don't do anything without consulting a lawyer.  Actual costs would presumably be low.
Back to HF biz.  Is this one of their units?

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=251415846325

Seller in San Diego?  Hmm I wonder if I was correct back in Nov?

I would have taken the BTC because I see much potential in cryptocurrency. I think many others here would have done the same.

There are plenty of reasons a risky case might be taken on contingency. This is particularly true where, as here, actual costs would presumably be low (no need for experts, no need for lengthy discovery). Biggest cost would be attorney time.

I'm not advising anyone one way or the other, but I'm skeptical of any advice suggesting people forego potential legal rights at the suggestion of a forum poster and without consulting a lawyer.

Anything more specific and I worry about coming too close to ethical lines, so I will refrain and stick with generalities.

Where did HF made the statement that they were investor backed and didn't need to use the Bitcoin for the first batch

Spoken like an attorney.    Yes customers don't go quickly and see if you can wrangle even a little bit of your money payable on the spot from a company that is quickly looking like it will simply close up shop but come pay me some fees so that I may sue them for you.  Really?  What good attorney in their right mind would take a case on contingency that involves a company with no assets and attempt bitcoin recovery - an asset that even if it existed in the company's possession is virtually impossible to lien or to effectively recover by force.  Sure one can do it on principle but still I would personally view this advice with extreme skepticism. 
This is almost like a prisoners dilemma.  HF likely is waiting to see how many people will sign that refund form in order to see how much they have to pay out in refunds and if they can continue to stay in business BFL style.  Of course if very few people opt for the refund and instead sue then they will likely enter bankruptcy protection since it's pretty clear the claims of people wanting full BTC refunds would outweigh everything.  So for investomers it's lose lose.  Don't sign the form and you will likely get nothing or sign the form and get some money but you might be in a race with everyone else trying to get at least something from HF as well.

An update for those who follow me :
First meeting with a new lawyer is this Monday. He ether takes the case or will refer me to a more experienced or more appropriate in this particular matter lawyer.

cgminer was working for a few seconds then losing the device, detected it again, repeat.

I tracked this down to an unconnected power cable.
Now that the power cable is connected, cgminer is churning along happily at over 400 Gh/s.
BFGMiner is still only getting 40 Gh/s, but that's my job to finish the code

And Obama promised that, "if you like your healthcare plan you can keep it". Try suing him on that statement. Just because there was a promise does not mean that entity will keep the promise. If a corporation knows they can make money with a false promise, or by not keeping a promise then they will do just that. HF has millions in coin, their most profitable move is to launder that coin and allow HF to go bankrupt at least in the short term. By the time the legal system catches up the money will be long gone.

As a BTC paying customer you cannot just trust any entity you are dealing with. It would have made more sense for HF to partner with an escrow service so that it could be verified the coins for the miners were actually being held but alas this did not occur.

 

I would personally view this advice with extreme skepticism.

A hypothetical case like this could presumably be taken on contingency, and/or attorneys fees may be separate from any recovery.

 Of course, there's always a chance of a company disappearing into the night or going bankrupt.

But see my sig.