Topic: HashFast announces specs for new ASIC: 400GH/s - page 483. (Read 880461 times)

2) just after the delay, people realised that the delay will cost them 75%+ of their investment.

Riddle me this: Can a bankrupted company give refunds? If no, than they have to deliver before Dec 31st => no refunds. If they manage to deliver batch #1 they will most probably deliver batch #2 also => no refunds.

But back to the quote: even if would need to refund batch one, there are still two more months to fill batch two purchases, so I think "no refunds in any case" is slightly off.

No refunds in any case.

3. DELIVERY AND QUANTITIES.
(a) Guaranteed Baby Jet Delivery Dates – Batch 1. All of the 550 Baby Jet units from Hashfast’s first production batch are guaranteed for delivery by December 31, 2013. If Buyer ordered one or more units of such Baby Jets, and Hashfast does not deliver such units by that date, then Buyer may cancel the undelivered portion of the order at Buyer’s request and Hashfast will refund the payment for the units that Buyer purchased but did not receive and cancelled. This cancellation and refund is Buyer’s sole and exclusive remedy for Hashfast failing to deliver by the December 31, 2013 guaranteed delivery date. To avail itself of this remedy, Buyer must cancel the order before such unit(s) are delivered by Hashfast, and in any case before March 31, 2014.*

(b) Guaranteed Baby Jet Delivery Dates – Batch 2. All of the 550 Baby Jet units from Hashfast’s second production batch are guaranteed for delivery by February 28, 2014. ... This cancellation and refund is Buyer’s sole and exclusive remedy for Hashfast failing to deliver by the February 28, 2014 guaranteed delivery date. To avail itself of this remedy, Buyer must cancel the order before such unit(s) are delivered by Hashfast, and in any case before May 28, 2014.

(c) Guaranteed Sierra Delivery Dates – Batch 2. All Sierra units from Hashfast’s second production batch are guaranteed for delivery by January 31, 2014. ... This cancellation and refund is Buyer’s sole and exclusive remedy for Hashfast failing to deliver by the January 31, 2014 guaranteed delivery date. To avail itself of this remedy, Buyer must cancel the order before such unit(s) are delivered by Hashfast, and in any case before April 4, 2014.

Either they delivery before the 31 of Dec or they are bankrupted, there are not many other possibilities from their point of view...

Tacotime,

When I placed my early batch 1 order, the Dec 31st clause did not exist. It was added later.

Regardless, by law, they are required to issue a refund if requested, as we have prepaid for a product that has not shipped, and is late. I have politely requested a refund, by email, and I received a response from Hashfast denying that request.

Why are they breaking the law?

Can someone fix my logic here, what is the point of MPP?

Current - BTC @ 195 - 10.26 BTC
Assuming 850M difficulty at receipt and 30% increases each adjustment = no MPP, break even within 90 days.
Assuming 1070M difficulty at receipt and 40% increases each adjustment = MPP must kick in because day 90 you will have 7.4BTC.

Per HF MPP rules, it would have taken an additional 150GH to hit the 10.26BTC we started with. They double it to 300GH, round up to the nearest whole GN (1 chip @ 400). Now you have 400GH to put on your system 90 days after you received it. In this crazy town of 40% constant difficulty increases, that would yield you an additional 0.2 BTC, which is not worth the extra MPP fee.

If difficulty remains under the 40% curve, MPP won't kick in.
If difficulty remains over the 40% curve, MPP will kick in but won't be worth it.

Are people who are buying MPP imagining that it will be extremely difficult to mine for the first 90 days, so that MPP will kick in, but then it will stop so that the extra capacity can give make MPP worth it? Can someone who thinks MPP is a great idea please share their assumptions about difficulty expectations?

Because they have nothing to give you and you can't do anything to them since no CC or Paypal payments

Tacotime,

When I placed my early batch 1 order, the Dec 31st clause did not exist. It was added later.

Regardless, by law, they are required to issue a refund if requested, as we have prepaid for a product that has not shipped, and is late. I have politely requested a refund, by email, and I received a response from Hashfast denying that request.

Why are they breaking the law?

If I were Hashfast right now I would not be engaging individual customers, especially excitable ones, in extended discussions either. It's pointless and probably a waste of time, although I agree that a couple of the communications from them that I've seen posted here were curt and somewhat defensive.  What this suggests to me is that they are feeling pressure and responsibility, and that's good.  They have a lot of our money and need to deliver.

If I was Hashfast I would, however, be diligently monitoring discussions like this one and seriously thinking about comments and suggestions submitted in a civil fashion, with a view to announcing a plan to address the situation of batch one customers as soon as the chips fall into place (i.e. when there are more known knowns). 

With that, I'm done with this topic until further news from the company itself!  See ya then.

Hashfast's pricing scheme is pretty messed up in hindsight and I am very surprised they are not really doing anything about it. 

Can someone fix my logic here, what is the point of MPP?

Current - BTC @ 195 - 10.26 BTC
Assuming 850M difficulty at receipt and 30% increases each adjustment = no MPP, break even within 90 days.
Assuming 1070M difficulty at receipt and 40% increases each adjustment = MPP must kick in because day 90 you will have 7.4BTC.

Per HF MPP rules, it would have taken an additional 150GH to hit the 10.26BTC we started with. They double it to 300GH, round up to the nearest whole GN (1 chip @ 400). Now you have 400GH to put on your system 90 days after you received it. In this crazy town of 40% constant difficulty increases, that would yield you an additional 0.2 BTC, which is not worth the extra MPP fee.

If difficulty remains under the 40% curve, MPP won't kick in.
If difficulty remains over the 40% curve, MPP will kick in but won't be worth it.

Are people who are buying MPP imagining that it will be extremely difficult to mine for the first 90 days, so that MPP will kick in, but then it will stop so that the extra capacity can give make MPP worth it? Can someone who thinks MPP is a great idea please share their assumptions about difficulty expectations?

Can you show us the NDA?

Can someone fix my logic here, what is the point of MPP?

Current - BTC @ 195 - 10.26 BTC
Assuming 850M difficulty at receipt and 30% increases each adjustment = no MPP, break even within 90 days.
Assuming 1070M difficulty at receipt and 40% increases each adjustment = MPP must kick in because day 90 you will have 7.4BTC.

Per HF MPP rules, it would have taken an additional 150GH to hit the 10.26BTC we started with. They double it to 300GH, round up to the nearest whole GN (1 chip @ 400). Now you have 400GH to put on your system 90 days after you received it. In this crazy town of 40% constant difficulty increases, that would yield you an additional 0.2 BTC, which is not worth the extra MPP fee.

If difficulty remains under the 40% curve, MPP won't kick in.
If difficulty remains over the 40% curve, MPP will kick in but won't be worth it.

Are people who are buying MPP imagining that it will be extremely difficult to mine for the first 90 days, so that MPP will kick in, but then it will stop so that the extra capacity can give make MPP worth it? Can someone who thinks MPP is a great idea please share their assumptions about difficulty expectations?

Well there was this:


A customer should be able to get a full refund if the delivery is not made within a reasonable time frame after the stated delivery date (Oct 20-30 at the time of my purchase). The question is what is a reasonable time frame for this type of product? Clearly since the majority of the profit is made in the first few weeks after purchase after which it quickly degenerates into a large and heavy paperweight I'd say reasonably short (a few weeks).

As integrity42 pointed out in the other HashFast thread, a 400GH/s miner is now expected to only mine ~15.3 BTC in a 1 year period (Starting Nov 23, assuming a 4 week delivery delay)

I paid 59 BTC for my BJ so I feel like a proper fool now... Part of it my own fault of course (I did not expect network growth to go double exponential). But HF was only able to demand this kind of premium from Batch 1 customers because of the listed delivery dates of Oct 20-30. Time *is* Money. If they would have listed December 31 they would never have sold all units at these prices.

How are you going to get a refund anyway since they only took bitcoins and wire transfers?

They have no incentive to ship early.. you best find out if Ciara is shipping direct to customers or back to them.. if back to them, then they will mine until last week of Dec

You can ask for MPP in April

But this isn’t just about power. We’ll be shipping our Baby Jets directly from CIARA’s massive 576,000 sq. ft. headquarters in Montreal. There are few manufacturers in the world that have the incredible capacity to build and ship mining rigs with the speed CIARA does. What’s more, CIARA is a C-TPAT registered company, which means no delays at US or Canadian customs.