Topic: HashFast announces specs for new ASIC: 400GH/s - page 45. (Read 880726 times)

Normally those companies don't have millions of dollars worth of orders lined up with 90% profit margins before declaring bankruptcy.

Hashfast was very successful, they just "mismanaged" their money is all.

BFL who had similar delays was also very successful but they didn't lose their $45m profit.


Isn't changing the contract several times ignoring contract law?

If Hashfast would have just followed FTC guidelines (like the ones BFL is currently being sued for breaking) then preordering wouldn't have had to be a gamble.

The only windfall seekers are Hashfast by promising that they can give a windfall(full btc refunds) and acquiring customers because of it.

If they did manage to tunnel the money out of Hashfast then that would be a massive windfall.


How did they almost recover from their mistakes? They have had a working ASIC since January. Their one mistake was that their massive stacks of money magically disappeared.

Honestly what happened to the money?

"Countless months?"  "Come here daily?"  If you have to exaggerate the facts, it's usually because your underlying point is weak.   

If HF "did act fraudulently" there must be some evidence.  However, when repeatedly and directly asked to provide proof the US Attorney did not offer any.  Was Ms. Glosson lying to the judge?  Is she also part of mikelitv's feverish conspiracy theory?  Maybe she's the one who stole the $50MM...!   

This paradigm of 'business failure and bankruptcy are shameful' is based on silly Puritan logic.  IE, God must be angry at you for sinning and that's why He didn't Bless your risky high-tech venture with success.  It's the same asinine concept as conflating poverty with poor character.

In the real world, companies fail and go through bankruptcy all the time.  Not every company is BFL.

I'm berating the windfall-seekers and conspiracy theorists.  They deserve it.  Losing money by gambling on Bitcoin ASICs is not a valid excuse for A) ignoring contract law to justify greed or B) making up zany defamatory nonsense about drug-dealing self-mining arsonist bookies.

HF made the worlds fastest ASIC and almost recovered from their early mistakes.  Throwing a tantrum and screaming 'it was a scam all along' is reprehensible and I am not afraid to condemn such behavior.  What happens if you go to a casino and only start shouting "OMG IT'S A SCAM" *after* you lose at the craps table?  Will anyone feel sorry for you?  Or will the security guards help you find an exit?

Guys, don't feed the troll. Let him roast with our BTC. Once that this story is over and he will be either in jail or here changing arguments yet another time we will have time for the last laugh.

It took you only one year to get my name right.

Restaurants with $20M in preorders and $15M+ in debt. Or "startups" with the same finances. That didn't fail to make profit, but to deliver afterwards...

You see? It's worse than talking to a wall. Let's let the wall echo itself.

It's a bit ironic that the only fanatic supporter of hashfast, who dedicated countless hours/days/months of his time advertising/spamming hashfast products, is now the only avid defender of hashfasts epic failure fraud. It's quite clear ulterior motives are involved.

Icebreaker I've got a serious question for you:

How can you have absolutely no shame? I'd love to know how one can go about being such a massive fuckup, cost several victims thousands of dollars, and feel good about it.

Whether you care to admit it, you are likely responsible for several thousand dollars worth of sales from your several month long advertisement campaign.

Regardless of your twisted agenda driven opinion, hashfast did act fraudulently. There is no other way to explain how a company could lose $50 million when production costs should have been no more than $5m. (and before you bring up NRE, it was paid for before taking in preorders)

You are responsible for several thousand dollars in losses yet you come here daily to berate the victims of your own ineptitude. Quite disgraceful if you ask me.

Are you claiming that HF is not a high-tech start-up?  Or are you claiming that most high-tech start-ups do not fail?  Or both?

Extraordinary claims require extraordinary evidence.  So far you have provided the first but not the second.  That's insulting to anyone possessing intelligence (although forgivable because of your outlandish imaginings' entertainment value).

My understanding of the legal system dwarfs your own.  For example, everyone else paying attention knows HF would not have been able to successfully resist both attempts to force them into Chapter 7 if there was anything amiss.  Your clumsy, vague understanding of the relation between bankruptcy and criminal proceedings fails to comprehend that even alleged criminality supervenes upon bankruptcy.

Nobody cares how humorless and patient you may be.  The point is that if the SF DA or anyone else was investigating HF, we would have heard about it and they'd be in Chapter 7, not continuing to manage their own affairs under Chapter 11, sans Trustee.

Blather cliches about "speed" all you like.  Zero is the absence of speed, and also the number of criminal acts HF has been accused of in court, where it counts.

Put up or shut up.  Save the historical fiction for your creative writing class.

Actually, my conspiracy theories are not farcical.  They are rooted in facts and evidence.  Contrarily to you, I have spent a substantial amount of time researching and talking to "clients", both very large and small.  I have even spoken with Simon and Eduardo, with Victor (the CRO) and with Monica. I have read most available testimonies and filings.  I have retained legal counsel like so many here.  I am patient.  So is the legal system. Believe me, I am not known for my sense of humour. "Why hasn't the US attorney or District Attorney made these allegations"... yet?  Your understanding of the legal system is obviously limited.  Just as is the speed at which it moves.  Yet, some of us are building the case and going through the necessary steps to help the authorities.  The liquidation/bankruptcy is only one step, unrelated to criminal procedures.

You keep repeating the "this was a new High-tech Start-up, most fail, HF is just one of them, you should have known better, stop crying" argument like a mantra.  You are either blind or in complete bad faith or you just get a kick out of annoying victims.  Either way, your crass "analysis" of the situation is insulting.

Your conspiracy theories are exceedingly farcical.  At least you're not as crazy as Davide, who still clings to the fantasy of HF self-mining.

Where is the evidence HF "repeatedly and knowingly lied/stole and cheated/used funds for as of yet unexplained reasons?"

Why isn't the US Attorney (or District Attorney) making these allegations?  Why didn't she present evidence of their truth to the Judge, when repeatedly asked point blank if it exists?

Like new restaurants, most high-tech start-ups fail.  That's just the way the world works.  Sorry to disappoint your desire for more sensational drama!  Go watch Breaking Bad again if you need to get your adrenaline kick so desperately.  Or check out the Altcoin sub...

Your defense of HF is beyond absurd.  While I don't believe they mined with our equipment (simply because they didn't produce enough), that does not make them honest.  It is NOT a case of a simple cutting edge technology development that failed.  HF acted with contempt for their "clients", treating them more like "marks" in a con.  They repeatedly and knowingly lied.  They stole and cheated.  They used funds (including BTCs)  for as of yet unexplained reasons.  

My guess would be that Eduardo's house burning down was no accident, but a warning from people he owed money to, either for drugs or gambling debts.  Scared, he took the BTCs from the company to pay off his debts.  After that, HF went to shit and he kept on trying to cover his mess with more lies and false representations.  Simon and Eduardo both deserve hard time.  I would through in some members of the so-called "creditor's council" in the lot for their obvious conflict of interests and unethical, illegal manoeuvres.

You'll be waiting a long time.   

HF never had a datacenter.  If they did, the bills for it would be in the court records.

Units were shipped out ASAP.  The records from CIARA and Sonic prove it.  Posting off-topic stuff about BFL won't change that.

Why isn't your legendary lawyer in court providing evidence of these nefarious conspiracies you dream up?

You spent months blustering about how easy it would be for your lawyer to prove this and 'get them' on that...

Now that it's crunch time and HF is having its day in court, you do nothing?

You came back from the tomb to send your love for my post, Ralph. I appreciate that.

Recently published in the BFL case:
http://ia902308.us.archive.org/32/items/gov.uscourts.mowd.117531/gov.uscourts.mowd.117531.42.7.pdf


I can't wait to see pictures of HF's version of their private private datacenter (BFL's one is sooo tiny):



Remember the revision stickers that endured different times at the sun?

"Supposedly?"  Anyone can tell those freshly-mined coins came straight from Eligius.

If there was evidence HF broke the law, they would be in Chapter 7, not Chapter 11.

However, the latest motion (to appoint Chapter 11 trustee, or convert to Chapter 7) was DENIED:  https://cases.processgeneral.com/cases/document/case/5/hashfast-technologies-llc/120689/

Re: http://hashfast.org/14-30725.198.mp3  (Sept 10 Court Hearing)

In the latest hearing, at 42:40 in the mp3, Judge Montali asks Ms. Glosson POINT BLANK if she has any evidence of HF misbehaving.  She stammers and falters, while her 'deer in the headlights' look comes across very clearly even on the audio.  Ms. Glosson is caught empty handed and attempts to prevaricate.  The Judge proceeds to shred her faulty logic, to the amusement of everyone in the court (except her).

At 44:23, Judge Montali asks for the SECOND time "What did Mr. Barber do that's so horrible?"

At 44:38, Judge Montali asks a THIRD time "is there evidence of fraud or dishonesty?"  Instead of answering this pointed question with a direct yes or no, Glosson stutters, balks, and dissembles into some hasty, ill-conceived prattle - which the judge succinctly dissects and demolishes.   

At 45:02, His Honor asks Ms. Glosson for the FOURTH time "what did Mr. Barber do which might arguably constitute incompetence or gross mismanagement?"  Yet again, the US Attorney cannot answer the question to the judge's satisfaction, instead responding with unconvincingly asinine circular logic.

To summarize: when pressed for evidence, instead of offering proof HF did anything wrong, Glosson proffers up BS that the judge at one point literally LAUGHS AT (50:29).  You can tell he felt bad about gently deriding and embarrassing her in front of the entire court, because later in the hearing he tries to make up for it by stroking her with little compliments.

If a US Attorney acting on behalf of the creditors' committee cannot even demonstrate gross mismanagement or incompetence, good luck proving dishonesty or fraud! 

tl;dr - You got nothing, punk.   

The first batch of BJ was sent with the private key of the supposedly mined bitcoins... But what about every other batch?

This is too hilarious.  Reminds me of those scams that call up previous scam victims and offer to get their money back for a fee.  This is offering previous victims of non delivery scams a way to get their money back with this new fangled much better cloud mining scam.  Good luck to you all.

I've recently meet someone (completely unrelated) that keeps repeating "As long as necessary".
Anyway no, not even filing the claim is required, if you don't disagree with their schedules.

this!

Any chance someone could TL;DR where we are? I went back pages and pages and most of it is off topic garbage that has nothing to do with HF and the court case. Is there anything we, the creditors, need to do (besides filing the claim a while ago)? Is there any expected time frame on how much longer this court case will draw out?

Thanks for the advice but I have a good feeling about this one.... I am going to see how it pans out. If I lose then I lose, and will accept that I took the risk. But as I said a lot of people on Litecoin talk and Hashtalk are all very encouraged by their investments so far. Chris (Beekeeper) appears to have a very good reputation on Litecointalk.

Sure, you might as well get out before the scheme collapses.

You may well be right, but so far I have 1/4 of my investment back, a lot of people on various chat forums are saying positive things about Chris and his FPGA developments and recent advances in Cloud Mining. I was therefore willing to take the risk on a 1600 M/hs package for $850 ... It may turn out to be a scam but so far so good. anyway just wanted to let a few people know about it as it may offset some off if the Scamfast losses which is what I am trying to do. 😄

I am not trying to hide the fact that I am an affiliate and if you want to throw a few $ my way for referring the site to you, that is purely up to you. No pressure just letting people know about it. You can make your own minds up about them. I gave it a shot anyway.