Troll free thread about the progress of HashFast's bankruptcy - page 2.

perezoso

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Quote from: pmorici on August 02, 2014, 09:57:23 AM

In the meantime Simon went on a month long vacation to Europe.

In the great European tradition of a God-given right to at least one month paid vacation a year.

I had a German business partner for a while. We were not doing well, money was tight. He announced his vacation plan. I suggested that if he was going to take all that time off, at least some of it should be unpaid given the circumstances. He thought that I was proposing an injustice on the order of genocide. A massive human rights violation, not getting his full complement of paid vacation. Shocked

pmorici

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Quote from: perezoso on August 02, 2014, 09:54:50 AM

I want to know more about Eddie's disappearance. I understand that he had a harrowing experience with the fire, but I haven't seen any real explanation for his apparent personal financial meltdown (did he keep his money in a burned up cookie jar?) and his absence in the period during which he blames bad decisions on Simon. Did he have some sort of mental breakdown? Why was he gone? If he had genuine medical issues, mental or other, that's fine, I wouldn't begrudge him that. An explanation would seem in order, though.

I don't doubt that having ones house burn down is a hardship but I'm having a hard time reconciling their story with this article from Business Week...

http://www.businessweek.com/printer/articles/185877-the-bitcoin-mining-arms-race-heats-up

Quote

Eduardo de Castro runs HashFast Technologies, a mining startup founded in early 2013. Sitting in a cafe in Mountain View, Calif., in September, de Castro, too, displays feverish signs: He had a house fire the night before, which he mentions dismissively only after being asked about the bandages on his arms and face.

Sounds like he was well enough to show up the next morning to talk to a BusinessWeek reporter but we are supposed to believe that after that he decided it was all to much and left everything to Simon?

pmorici

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Quote from: jjiimm_64 on August 02, 2014, 09:26:03 AM

I have been out of the loop last couple of weeks..

Sounds like the lawyers are going to be making money.

What percent of our bitcoins are we likely to receive? if any???

Can someone summarize where we are at?

Hashfast negotiated a horrible complicated deal to sell most of their assets to one of their supposed creditors Liquidbits, who was more like a business partner. The committee was against the deal because it would have in all likely hood resulted in $0 going back to the customer creditors. It was so blatantly horrible that the judge said he wouldn't approve it even before hearing arguments on the matter. Hashfast's plan was to sell all the first generation assets to Liquidbits then run off with the IP for the second generation chip and start a new company with it w/o the liability of all those pesky customers who are owed money.

Now that that scheme has been halted for the time being they are under pressure from the court to work out a plan in cooperation with the creditor's committee by Aug. 20th at which point if a mutually agreeable plan hasn't been reached then there will be a hearing about appointing a trustee who will come in and take charge of the company.

Hashfast claims they only have a negligible amount of BTC remaining somewhere between 0 and 5 BTC depending on which of their court filings you think is correct. What happened to the Bitcoin is still being investigated.

In the meantime Simon went on a month long vacation to Europe.

perezoso

sr. member

Activity: 392

Merit: 250

Feels better in here. I have a lot of paperwork to catch up with, though.

The testimony I've read so far makes me pretty sad. Such poor financial decisionmaking. Again. And again. And again. Yet Eddie is articulate and thoughtful. What a contradiction.

The picture so far is that as soon as money came in, out it went again, with effectively no consideration of the value received by HF for that money from its suppliers, contractors, etc. As if Eddie and Simon believed the money was going to just keep coming to Hashfast forever, so there was no need be judicious in their expenditures.

But maybe that's not the whole truth.

I want to know more about Eddie's disappearance. I understand that he had a harrowing experience with the fire, but I haven't seen any real explanation for his apparent personal financial meltdown (did he keep his money in a burned up cookie jar?) and his absence in the period during which he blames bad decisions on Simon. Did he have some sort of mental breakdown? Why was he gone? If he had genuine medical issues, that's fine, I wouldn't begrudge him that. An explanation would seem in order, though.

jjiimm_64

legendary

Activity: 1876

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I have been out of the loop last couple of weeks..

Sounds like the lawyers are going to be making money.

What percent of our bitcoins are we likely to receive? if any???

Can someone summarize where we are at?

cedivad

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Activity: 1176

Merit: 1001

Quote from: ?? on ??

Quote from: cedivad on August 02, 2014, 07:54:04 AM

Quote from: ?? on ??

Nobody is paying me and stating facts, no matter how unpleasant and contrary to your desires, is not trolling.

You are requested to leave this thread.

So anything I say is automatically trolling?

As I said, you are requested to leave this thread. This is the third time I ask you to do so.

cedivad

legendary

Activity: 1176

Merit: 1001

Quote from: ?? on ??

Nobody is paying me and stating facts, no matter how unpleasant and contrary to your desires, is not trolling.

You are requested to leave this thread.

cedivad

legendary

Activity: 1176

Merit: 1001

Since that the wise management over at HashFast decided to hire paid trollers to mislead their customers one last time, I'm opening this thread.

I will remove each and every post from "IceBreaker" and every puppet that will come up. Those users are asked not to post here. Constructive discussion is instead encouraged. You can follow the unmoderated thread on Bitcointa.lk (edit, it looks like that something is broken).

Topic: Troll free thread about the progress of HashFast's bankruptcy - page 2. (Read 2819 times)