Topic: HashFast announces specs for new ASIC: 400GH/s - page 340. (Read 880461 times)

"HashFast ‏@HashFast 21 Déc

The Baby Jet is born! Hashing away on all 4 cylinders for hours, the first assembled rig is performing marvelously! pic.twitter.com/w4pi3PTas3"
so... first rig on 21 dec ( showing76° for only 420 gh/s on cgminer, UNDERCLOCKED, then : what about your promise to deliver over 400 bj's  two days after , ... shame on you !

I had 2 orders between 10 and 20;  UPS shipping notice came on October 2nd ended up delivering October 7th.  I still have not mined more BTC then I paid.  Such is life.

Unfortunately I bought into hashfast that they were fully funded ahead of time and would refund in BTC if they didn't deliver... and hashfast was going to deliver mid October.  Seems that they may have converted to $'s so if they don't deliver I'm taking a large unpleasant bath if they attempt to refund BTC based on the $ equivalent paid at the time.

If Hashfast fails to ship by Dec 31st and refunds USD, or ships broken crap, or fails to deliver MPP+ boards in time for them to have a realistic shot at ROI, I too will join a class action and am prepared to make some funds available for it.

Although if there are enough of us, I would expect the case to be accepted on contingency (i.e. little or no up-front costs but lawyers take a % of the settlement).  There is quite a bit of indication that Hashfast never had any serious intent to deliver in October, and that it was all a lie to boost sales at high prices.  I also think that there are aspects of the MPP that may form part of a suit.  Importantly, there are several of us who paid in USD who have expressed upset with the situation here, and I would hope that any action is constructed such that it encompasses our situation as well as that of those that paid in BTC.

The guy from that disreputable enterprise known as BFL doesn't understand a couple of important things.  First, the MPP was what enabled Hashfast to sell out it's first and probably second batches. If it wasn't for the MPP, they would laboring in obscurity, with prices far below those of the fall, cash dwindling, fewer orders, and people saying they'd rather rely on proven hardware (e.g. KNC) than HF's troubled program. Second, I think the miners that have ordered from Hashfast have learned lessons from the BFL saga and will not be as passive as BFL's victims.

Without knowing the specifics of what they are going through, I can't really speak on it... but I can imagine it's very similar to what we went through on our first ASIC and assuming that is the case, I sympathize a great deal with them from a technical standpoint.  I have no first hand knowledge of what the issues are at Hashfast currently, but from reading between the lines, it sounds like the chip isn't performing like they expected and hash a higher thermal signature (due to increased power) and they are having to scramble to make things right... just like we did.  It's a really crappy situation to be in and I have no doubt everyone is doing everything they can to get the units out the door.  Admittedly, I don't keep up on the whole Hashfast saga as closely as some, but it seems like they are victims of their own optimism, which was a hard lesson to learn for BFL. 

Hashfast has the benefit of Bitcointalk being troll-city and ignored by most of the general public, unlike back when BFL started and Bitcointalk was somewhat reputable... so all the trolling, lying, FUD and general misinformation is largely irrelevant in todays world.  People like Cevidad et al don't really make much of a difference, just a bunch of noise that no one is listening to.  So I think they will come out of it alright in the end, assuming they deliver sometime in the next few weeks. 

As far as the TOS goes, that's another story entirely...  The TOS is a clusterfuck to be sure and the MPP was just impossible... anyone with any common sense should have realized that from the start.  In fact, I mentioned it back in September:

https://forums.butterflylabs.com/pre-sales-questions/4914-bfl-selling-worthless-mining-gear-3.html#post58249

Say what you want about BFL, we have always clearly stated our terms and conditions and even made people double opt in to new terms and conditions or be refunded... Hashfash could certainly have handled the whole TOS situation much better... and they should never have created the impossible MPP.

Josh is probably taking a % of HF profits due to it's suggestions to john. So there is really no point in asking him it's opinion on HF. I will always remember how sure he was that KNC was gonna be late when we meet, it must have been because he knew that KNC was legit.

Inaba -

Just out of curiosity.
Having already "been there/done that" with the dirty job of bringing as asic to market, what is your perspective of Hashfast and what they going through right now.

Also, your thoughts on their moving target TOS I would be interested in hearing from the point of view of a competitor.

Thanks -

There is no signal at all, and it's not our fault.

Great, that makes two of us already.

He won't go public, and i suspect that he will be just fine, and not interested in joining efforts with us.

I suspect Hashfast will choose to refund all Batch #1 customers to get out of the MPP. With the increase in the value of Bitcoin, 2TH is worth far more right now than the $5k or so they sold each unit for.

I realise they have spent the money, but look at KnC, they just sold over $27M worth of Neptunes for delivery possibly as late as Q2. If HF can show working miners, people will go nuts and order loads of gear, so they will suddenly have the cash to refund Batch #1 customers.

I'm one of the ones who was mislead by the lies HF told. I'm an embedded systems developer (hardware and software) and it's obvious from what they have posted that they only started development work in December that they should have been doing in NovemberSeptember / early October if they ever had any intention to ship by late October.

This late development effort may have caused problems, they may have needed a PCB respin to fix issues with the POL power supplies or embedded micro, one of the pictures they posted showed the micro missing and wires strapped over to an evaluation board. All normal and expected parts of development... which would have been done and corrected in October if they were really on track. (I suspect an element of inexperience and incompetence here, rather than pure malice.)

I'm ready to make $10k-$20k available for the class action. Unfortunately I'm not in the US so can't progress this much myself.

Does anyone know who bought the 200 batch 1 BJ's (Order M008)? Presumably they will be up for some legal action.

The signal to noise ratio here is astounding

The fun part is that they promissed October delivery and they got the chips on 5 December!

http://www.timeanddate.com/countdown/to?iso=20131231T235959&p0=224&msg=Hashfast+Shipping+Deadline

FAILFAST  , i presume the next hashfast "yahoo finances" article should be very interesting to read.... 

The recent large difficulty jumps are from KnC batch 2 coming online. Difficulty should slow down until the end of March, unless Hashlast and Cointerrible actually make something.

in august hashfast promised  to deliver their units to batch 1 customers for 15 october.
today we are on 24 december ... and they're insulting all of us by their fucking silence !
it's clear :HASHFAST IS A BIG BIG SCAM !
their model : BFL . that's all

well they could just go the BFL route and just plain do nothing ..screw you....it seems that at least in regulations in the usa ....if you get your stuff ..even if 1yr late....then don't have to worry about regulations.......

so imho ..they probably don't have to honor any of the comitments...if that held water some lawyer would be contacting a lot of BFL folk for a class action suit....but alas....item WAS delivered in the BFL example.... so being on time seems to have little value in this kinda stuff

Also a lot of small claims court rulings against BFL...good luck collecting ...so far ...no one has managed to do that yet either even if they've won from what I've heard

so imho prepare yourselves for more 'deafening silence" on here

my 2c worth (not that it is worth that) but comparison wise...if BFL can get away with it why not everyone else who is late?

Searing

I wonder if they will refund customers with mined coins with customers hardware.

well from the talks here It seems if they dont deliver on the first or 31st then all customers are entitled for a refund. Most likely in usd. I am simply saying they may do something along the lines of on the 28th ship all the units with next day air ups so they will get to you on time.

It would be interesting to know if they can ship until the 31th or not (delivered <> exwork thing) etc. I'm not sure that as final customers exwork definitions applies. We are not HF.

I imagine Hashfast is gonna either refund us or end up shipping all of batch 1's with ups next day air or something.

It says a lot.

Oh it's only going to get nuttier day by day.