Topic: Why you shouldn't buy Hashfasts new "up to 800GH/s" "product" (Read 11643 times)

this should be set as a sticky..  or a buyers beware thread up top for all the bullshit scam companies

this should be set as a sticky..  or a buyers beware thread up top for all the bullshit scam companies

+1 Here here.

We need association or guild of reputable miner fabricators and developers. Here was my post for a guild.


https://bitcointalksearch.org/topic/diy-custom-open-hardware-software-guild-call-for-ideas-282030

Lessons to learn:

1. Never pre-order ASIC mining hardware.

2. Never store funds on an exchange unless you are converting immediately and withdrawing.

3. Backup your wallet.dat and encrypt that baby.

Pretty simple. I may have missed one or two fundamental lessons. But these 3 should sum it up for every noob and pioneer.

Do NOT pre-order asics....

bitmain is shipping in stock asics... they aint sexy, but they perform very well.

it's not for me, is all i'm saying, i don't see why this is a concern for you.
best wishes

Where are you getting this cult idea from? What do you think the outcome of something like this would be? You don't have to be a part of the group if you don't want to, but I think it would benefit the community at large and am interested in your opposition to such an idea.

your thought misleads you.


I think that no harm will come of it, as it is not something that I will partake in.


As I said, if you feel the need to be part of a group, carry on.


yes, i'd rather solo mine with 1gh/s than be part of any centralised cult. thanks.

I think user Cedivad is running http://hashfast.org/List_of_Lies, PM him to see if he is behind that one too:
https://bitcointalksearch.org/user/cedivad-63794

I don't think you do get the idea

and I don't understand what harm you think could come of this.

It wouldn't be run by those organizations, in my ideal situation anyway, but just be a separate, non-biased, unaffiliated organization that vets the scammers out there and gives people an idea of who is legit and who isn't without digging through loads of Bitcointalk pages and Reddit. It isn't going to be the OPEC of the Bitcoin mining industry.

But you would rather solo mine with 1 GH? What does that have to do with anything written here? Or are you happy that some people are getting scammed and scammers are upping the ante because that makes your mining more profitable? I'm really struggling to see why something like this isn't necessary and wouldn't be embraced by the community since the days of bASIC, the lost Avalon chips, BFL, BFL, BFL, Cointerra underdelivering, VMC/AMC/SCAM being investigated by the MO Attorney General and going through supposedly 4 chip redesigns while people who invested have NOTHING to show for it. This is an idea that is highly overdue in this marketplace if we are ever to be considered legitimate as we already have enough recent problems with the legal issues of key players in the Bitcoin ecosystem already. Miners have been going with the idea of individual responsibility and buyer beware, etc, which is great and all, but we have seen the fruits of that approach already and they have been bittersweet or downright rottern for the majority of miners.

no, i get the idea of a cult/sect/group orgy/foundation/union/guild perfectly well thank you.
if you feel the need to be part of a club, carry on. it's not for me, thanks.

Lmao why don't you just ban them
They deleted you from your own forum

If you want people to keep getting suckered... then I guess no sense protecting one another. Finger pointing in the wrong direction buddy.

no, i get the idea of a cult/sect/group orgy/foundation/union/guild perfectly well thank you.
if you feel the need to be part of a club, carry on. it's not for me, thanks.

I don't think you get the idea of the guild / association. It is a BBB for Miners. Not a mining pool or a place to sell products. Open to all who would rather deal with reputable and honest brokers in the Miner field as opposed to the HF / BFL / Avalon types.

i'd rather solo mine with 1gh/s.
JUST NO.
 

We need association or guild of reputable miner fabricators and developers.

I'm currently looking for whomever owns hashfastscam.org (or similar domains) and I'm also interested in getting in contact with other hashfast customers in the SF bay area.

So I'm just wondering, is gmaxwell going to start calling out all of the overpromising/underdelivering, cough BFL cough, hardware companies or just the one's he has money invested in and ignore the one's who have invested money in advertising here. Because there are/have been a lot of them out there and I haven't seen this kind of response until now.

Regardless, this isn't all that surprising after my initial meetings with their team before they went public. Something was just off and then I found out they claimed that someone who is actually financially backing another company financed their operations. The dog and pony show was awesome, but when it came down to it, Lil Sebastian was/is late to the party still.

Lessons to learn:

1. Never pre-order ASIC mining hardware.

2. Never store funds on an exchange unless you are converting immediately and withdrawing.

3. Backup your wallet.dat and encrypt that baby.

Pretty simple. I may have missed one or two fundamental lessons. But these 3 should sum it up for every noob and pioneer.

Unfortunately, for some reason Hashfast does not want you to see this vital information about the integrity of their operations and the realities of their product non-delivery— so they deleted my post.  

The chip is running at 750GH/s.  That's a world record!  Having a chip that runs 50% faster than the nearest competitor is a big deal, especially given the rapidly rising rate of mining difficulty.

Are you saying you want to create a miners union? 

Thank you for the response. That might have came off a little harsher than I intended it to, but as a Bitcoin consultant I have lost my patience for these snake-oil salesman coming through town. I understand that you can only speak from your own experience and can't buy everything out there, but as you are well-known in the community your voice carries more weight than say, cedividad, (no offense intended cedividad). I respect that you didn't use your moderator powers as you could have and instead started a separate thread, which I think is commendable, but as I said your voice carries weight and it made the rounds of the internet I frequent VERY quickly.

As an aside, maybe we should have a sort of Bitcoin Miner Foundation, or something of the sort in order to give more of a voice and power to miners in some way. They can be funded by miners to buy miners and then do a whole consumer report of the whole situation. This would at least provide more transparency and accountability for our side of things. It might be a dumb idea or brought up before, but it's one I've kicked around for a bit.

Thank you for calling out Hashfast and relaying your personal experience.

I'm speaking from my own experience. Sadly, I can't really afford to buy a couple units from every vendor that comes along.  You'll note that I'm not using any special moderator powers here, e.g. kicking Hashfast's ass for deleting my post in their self moderated thread. I'm here as a (well known) community member.

(Y'all wanna fund me to buy one of every other piece of hardware, I will— and then I'll be glad to blast the everlasting crap out of them when they don't deliver... kinda costly though)

I was in Germany at the time of their announcement and couldn't do my normal due diligence which probably would have saved me— and did from several other vendors before.

From now on I wouldn't agree to a preorder without using a multisig escrow or alike just to prevent the current situation.

So I'm just wondering, is gmaxwell going to start calling out all of the overpromising/underdelivering, cough BFL cough, hardware companies or just the one's he has money invested in and ignore the one's who have invested money in advertising here. Because there are/have been a lot of them out there and I haven't seen this kind of response until now.

Regardless, this isn't all that surprising after my initial meetings with their team before they went public. Something was just off and then I found out they claimed that someone who is actually financially backing another company financed their operations. The dog and pony show was awesome, but when it came down to it, Lil Sebastian was/is late to the party still.

I'm in the SF Bay Area, feel free to send me a PM. I visited their office in the past (and got lied to in my face as it turned out). I did receive my hardware in late January. It was not very stable but I've been able to iron out the kinks. No MPP of course, and looking at ~90% loss in BTC overall on this investment.

To be honest, I was just hoping HF would ship the damn MPP so I can leave all this drama behind me. I got caught up in too many scammy operations (Bitcoinica, MtGox, BFL, HF) and it is starting to leave a really sour taste in my mouth.

Bitcoin allow you to eliminate trust when it comes to the actual transaction but in the end you still have to trust individuals and companies so the sword cuts both ways. Arguably when it comes to pre-orders it just cuts your way.

Pre-orders and bitcoin don't mix. Off-chain custodial services (wallets, exchanges, ETFs etc) and bitcoin don't mix either. Looks like this is a lesson we all have to learn the hard way.

I'm also interested in getting in contact with other hashfast customers in the SF bay area.

Sorry to hear more problems and thank you for sharing. I was actually about to order from Hashfast but ordered instead from another company last October, not sure yet if it was any better...

My experiences so far...  Avalon Batch #3...  they delivered finally (only) three months late.
Now waiting for Bitmine delivery which was promised last week of Dec, but nothing yet. Anyway already two months late.
LA3M unit from asiabtc / lightingasic came actually fast a bit over week after payment!

Generally buyingpreordering ASICs seems to be really risky.

Just in case people are forgetting.

Hashfast is a bunch of thieves. I do not say this lightly: They have literally taken my coin, violated their contract, and provided me with nothing in return. I paid them 98 BTC for hardware "scheduled" to be delivered in October. It's March 2nd now have received _nothing_ and they have not responded to any of my past private efforts to resolve the matter— now spanning months.  (Copies of communications and certified letter tracking numbers available on request).

I am not some competitor or troll: I'm a moderator of this sub-forum and a developer of the Bitcoin reference software.  I have no financial interest or otherwise in any other mining hardware company. I mine personally to support the Bitcoin network.  I've made a genuine effort to resolve this matter from hashfast, but it seems instead that they plan on taking my funds and running.  I sometimes feel bad that I probably do get "more fair" treatment than others with a lower profile in the community, but if they're willing to do this to me then what are they willing to do to you?

Business screwups and delays happen, but in my opinion Hashfast has gone far beyond those boundaries and into the space of outright theft.  Every additional sale hashfast makes while screwing over me and other miners in this manner damages the Bitcoin ecosystem and discourages me— and presumably other small miners— from participating. I've taken what I feel to be a fairly soft hand in this so far, in the hopes that they'd make things right after they cleared up some of their startup hurdles— but with new products being promoted, it seems that isn't their plan.

I urge everyone to provide HashFast with no further business until they make right by their past customers.

If you're looking for hardware and haven't been (rightfully) scared off by the astronomic prices being charged by current hardware vendors— I can personally vouch for Bitmain's Antminer S1s (*), which are delivered promptly, with absolutely no pre-order nonsense, and perform precisely as specified. Cointerra products also appear to be competently handled (though current units only deliver ~1.6TH/s against their original 2TH/s spec, and at least my unit has some hashrate stability problems when run at full speed), and they've treated their customers with reasonable respect (e.g. compensating customers for delays above and beyond the contract).


(*) Disclosure, fwiw: Last year Bitmain sent me a prototype 90GH/s antminer for testing/development prior to their public shipping. I subsequently bought a couple others as a normal customer and have been pretty happy with them as have virtually all of their other customers. Rather than seeing this as a source of potential bias here I'd point out that any well run mining hardware company would get pre-production units out to developers in order to avoid the early product missteps that other companies like HashFast have had.