Topic: HashFast announces specs for new ASIC: 400GH/s - page 88. (Read 880461 times)

calculation of this tool is too optimistic. never got this high return in real life.

They are already worthless, and you should know better than everyone else. They had almost 6 months to hide tracks, and they have already proved that they are unable to come up with a working cover story (because there can't be one, not because they didn't tried), so how much more time do they need? Are they waiting for a miracle?

I think it is obvious that they don't want to sell the chips before they're worthless. The question is what kind of weird game they're playing. Maybe they just need time to hide the tracks.

http://hashfast.org/14-30725.109.mp3

The interesting part is at around half, with their ridiculous "up to 1k chips per customers" without confronting with the committee, but don't worry, because they would try to get the court approval for more than 1k chips per customers. Or with siddiqui trying to complain and the judge calming it down.

Reading Karpeles' q/a is a continued deja-vu...

I did this tiresome and quite depressing trip back to the past (you won't believe how many hits a search for "mpp" gets in this thread) and dug out this, probably unrewarding information:

I said this a few posts back but I don't quite recall the number either.

some weeks after the first batch, the MPP was offered as an option and for a certain $ amount I don't remember and I'm too tired to look up. Maybe someone has that information and its a hint for its worth.

This might help:
http://retrocalc.net/


I hope you to have proofs of this, because I don't.


And I hope to have a copy of all of this.

One of the reasons why I refused that pity shipment in January is because of the unclear terms of the MPP. But you don't have to convince me, I'm with you


You didn't paid $1500 each per 4 boards. You were offered them. At an undefined date. So, they have an undefined value. You can't take a number out of it's context only because they were selling boards at that price (with an anticipated delivery date and a date after which, if undelivered, you could have asked for a refund (and only for a refund)). That's why I don't think the claim to be valid. But again, I don't want to argue this, I have no reason to.

Btw, hearing today.

I don't at all agree that there was a lack of a delivery date on the MPP nor that the absence of a specific date means you have "no valid claim".

On the contrary.  I ordered my BJ *after* the MPP was announced, and the MPP pledge of "up to 4x" hashrate was definitely part of what I bought.  Now, I will agree that Hashfast was slippery about the MPP delivery date and this makes valuation a little more difficult than other orders, but certainly Hashfast ackknowldged owing the whole 4x, and it was pledged to be delivered within the timeframe during which it was useful.  That was the whole point of the MPP.  

So, what does/did a board cost?  $1500 a few weeks later when they came up for sale.  I think that's a reasonable number.  I suppose an alternative approach would be to take the exact bitcoin earned by the BJ within the calculation period, and then subtract the USD value of that bitcoin from the purchase price.

So, for example, if I paid $5750 for my BJ, but the BJ only mined $1500 worth of BTC in the MPP calculation period, then I could value my claim at $4250?

At the end of the day whether the claim is for $6000 or something like $4250, I doubt that makes much difference.  The point is just maybe we could agree on a reasonable method for calculating it.  Thinking about it, I kind of like the Cost - Actual BTC mined in MPP period = Claim formula better than $6000.  I may amend my court claim.  I just don't know if I can accurately reconstruct the exact BTC value the BJ generated in the specified period.

But there's no question in my mind as to the legitimacy of the claim in principle.  The MPP was explcitly part of the package I bought.

I did the same.

discussing now

Yes. Of all the claims out there the MPP is likely the weakest. On the flip side the MPP pretty much provides all the evidence for fraudulent intent there is, because it shows that they tried really hard to scam people out of their bitcoins.

And don't forget that they will claim that they gifted the MPP to the big majority of their first batch customers, that haven't actually paid for it.
Don't take me wrong, I think that claim to have basis, but I also don't think it will be an easy one.

I see that they spent 100k on lawyers during the last month alone (it's in the latest documents). Will it be possible to do anything to limit them from spending our money to defend their interests?

However, if you paid for MPP , I feel like you're at least entitled to that amount. Therefore, for Batch 1 customers with MPP included, they should at least be entitled to that same dollar value by the company.

I will play devil's advocate here, just for a second.

The MPP wasn't sold with a clear delivery date. If you want, it was, but the wording was studied to be argued by their lawyers later. Without delivery date, you don't have a way to value the boards, and thus, no valid claim.

What is depressing to think about is that if they delivered to us the MPP chips (and not boards) in January, we would have made our investment back with a minimal additional expense.

But they felt like they needed those chip themselves, and that we couldn't have them even by paying the boards costs.

Depressing.

I filed a claim for unpaid Batch 1 MPP today.  I valued it at $6000 per Babyjet, calculated as 4 x BJ upgrade card @ $1500 each.  I hope that others with the MPP will do likewise.  This is in addition to the claim for the undelivered paid upgrade card claimed in the initial Chapter 7 filing.

I hope that whoever is reviewing the filed claims for the court will be at least somewhat familiar with Hashfast's sales model.  Because my MPP claim might look like a BJ claim, which it is not (they delivered the BJ, albeit late).  Hopefully the court will get it straight that each Batch 1 BJ, and some Batch 2 machines, were sold with the MPP and that, at least in the case of Batch 1 (I didn't follow the others), the full (4x) MPP was triggered but never delivered.

what is the content in the mail?