HashFast announces specs for new ASIC: 400GH/s

[aasl]

HF is still quiet...

[cedivad]

So perhaps they really are replying and some news will be here tomorrow morning.

Good news, let's hope to see a pickup event!

@army: http://videobam.com/ciJEp

[armyof1ne]

Well, Army, your wish may be their command.  

Last week, on Thursday and then again on Friday, Hashfast's lawyers generated UPS overnight labels addressed to me. (The annoying UPS "my choice" service spams me every time a UPS shipper farts in my general direction.)  Both times last week they didn't actually send anything and the labels appeared as cancelled the following day.

Today they generated two more labels and have marked, according to the UPS website, one of them as "Order Processed: Ready for UPS".  This is further than we got before.

So perhaps they really are replying and some news will be here tomorrow morning.

Then again, it could just be another false start.

PS: The video is good, although videobam sucks.  I just want name tags on Goebbels and whoever else that is standing beside him.

I highly doubt they are shipping anything, like honestly, they don't even have the staff to do it anymore, unless they have been sitting on stuff and basically bsing everyone

[perezoso]

I highly doubt they are shipping anything, like honestly, they don't even have the staff to do it anymore, unless they have been sitting on stuff and basically bsing everyone

Sigh. Knows more about litigation than lawyers.  Knows more about Hashfast than Hashfast.  Posts replies without reading original.  No wonder you're an army of one. 

[armyofnone]

Sigh. Knows more about litigation than lawyers.  Knows more about Hashfast than Hashfast.  Posts replies without reading original.  No wonder you're an army of one. 

Maybe he's an armyofnone!   

[defcon23]

I have little hoping of the MPP promised to be delivered in January/February.

  still supposed to be delivered in june?

[aasl]

probably it will never be delivered.

[cedivad]

At the time of your refund request, it was likely communicated to you that we typically take between 2-4 weeks to process refunds. Unfortunately, we received a larger quantity of refund requests around the time that we started to ship our April batch of TerraMiners to customers, and as a result we are running behind on processing them, as they are refunded in the order in which the refund request is received.

Your refund request is still active, and we are currently anticipating between 8 and 12 weeks processing time for some refunds.  We will continue to work towards processing the refunds as quickly as possible.

[email protected]

But since that Cointerra didn't screwed their customers as HashLabs did they aren't probably going to receive a forced bankruptcy filing.

[armyof1ne]

Well, Army, your wish may be their command. 

Last week, on Thursday and then again on Friday, Hashfast's lawyers generated UPS overnight labels addressed to me. (The annoying UPS "my choice" service spams me every time a UPS shipper farts in my general direction.)  Both times last week they didn't actually send anything and the labels appeared as cancelled the following day.

Today they generated two more labels and have marked, according to the UPS website, one of them as "Order Processed: Ready for UPS".  This is further than we got before.

So perhaps they really are replying and some news will be here tomorrow morning.

Then again, it could just be another false start.

PS: The video is good, although videobam sucks.  I just want name tags on Goebbels and whoever else that is standing beside him.

This one?!

I highly doubt they are shipping anything, like honestly, they don't even have the staff to do it anymore, unless they have been sitting on stuff and basically bsing everyone

Sigh. Knows more about litigation than lawyers.  Knows more about Hashfast than Hashfast.  Posts replies without reading original.  No wonder you're an army of one. 

That one up there? yeah, read it, if you read what i stated, you would know i was basically saying those labels are bunk and worthless, once again, i doubt they will ship anything, semi agreeing with your false start statement... wanna try again?

[joshv06]

So what happens from here..?

[perezoso]

I need to correct the record.  

The bankruptcy petition correspondence that I referred to yesterday turns out not to be from Hashfast's attorneys.  (Would you shut up already armyof1ne, you idiot?)

Rather, it relates to a (granted) motion by one of the others that brought the petition.  A motion to speed up the process.

Since I'm very much a junior (small) member of the petition group, I won't speculate on the significance.  Hopefully one of the other creditors will explain.

I will say, however, that according to what I have received, there will be a hearing on the petition TOMORROW (Fri, 23 May), at 2:00PM at the federal bankruptcy court at 235 Pine St in San Francisco.

The motion makes for incredible reading.  Allegations, but.... Tens of thousands of chips, conflicting agreements, alleged attempts to move assets offshore, alleged attempts to sell (at bargain prices) assets already encumbered by claims and agreements, "millions of dollars unaccounted for", violation of arbitrators orders.  Oh, heavens.  If none of the senior creditors appears here soon, and it's not posted on the court website, I'll go ahead and scan it.  Read it and you will weep, I promise.

[perezoso]

OMG.  Hashfast did try to "self-mine".  This is not an allegation, this is a written contract I am reading.  And it may mean that my co-creditor will not appear here, because he was part of the deal.

In early October 2013, Hashfast sold 3 petahashes to a company, estimated to be ~2500 Sierras depending on how they performed.

The company paid $6 million dollars for those Sierras.  Delivery beginning 15 November.  Units undelivered by 31 December could be cancelled.

But it wasn't just a hardware deal.  Hashfast would get a kickback of 25% of the gross revenues of the purchasing mining company (less costs).

What would you have done if you had known in early October 2013 that Hashfast had inked a deal to sell 2500 sierras and share in the mining profit from them?  I wonder if there were even more deals like this.

Makes the whole "drama" of Amy and her two shipping boxes in Montreal look like such bullshit theater to entertain the little guys like us.

In March (yes March), the company "converted" its order into 30,000 (yes 30,000) chips.  Hashfast only delivered 2,000 of those chips and has refused to deliver more.  Hence...

[paranoidx]

Ray Gallo is now representing any customer from any batch that is requesting a refund.

go to www.hfrefunds.com  for more information and join the lawsuit against these scammers.

[perezoso]

No comment on the Gallo business.  I'm not associated with that.

Truth is what I like, and we're getting some.  Okay, the huge customer is a Florida company called Liquidbits.  

New data point:  As of May 8th, 2014, Hashfast had approximately 31,000 chips on hand.  (Basis:  Hashfast admitted that 28,000 chips constituted "about 90%" of its inventory.)

At the same time, Hashfast had only delivered 2,000 out of 30,000 it committed to provide to Liquidbits under a "chip conversion" MOU executed on March 4th.  

Not that, speaking personally, I would necessarily grant any priority to the whale's claim over that of others.  

Another fact point:  When Liquidbits converted the 2500 sierra (3 petahash) order into chips on March 4th, Hashfast maintained its 25% payout from Liquidbits' gross mining income (less costs).

[Ilan1]

I just recieved this email from Ray "www.hfrefunds.com is now available to all Hashfast customers for all refunds owed by HashFast. Please spread the word far and wide. Post everywhere appropriate. The more customers I speak for, the greater my influence on the bankruptcy plan".

[cedivad]

"The more customers I speak for, the greater my influence on the bankruptcy plan"

That's something I would be afraid of. It's not necessarily a good thing.

If HF has 28k chips we need $1.5M to build enough PCBs. Plus components, placement and testing. So if he wants to do a chapter 11 (that is the only thing he could argue about right now), tell him to find money, not customers he will take the 40% of the claim from.

Ah, Perezoso... Waiting for PACER to do his job

[perezoso]

Well, in case you were wondering what Simon was up to in Amsterdam:

http://bit.ly/1i8dcJJ

[cedivad]

IceDrill is Digimex if someone was wondering. Looks like he deservers a big +1.

If someones has an american credit card everything should be already on pacer. I don't, so I can't download those (there are other services but they charge a huge premium). However document count #11 seems promising.

[perezoso]

Since I don't think these guys are going to show up here, some more docs to cry over:

Contract for the 3 Petahash (2500 Sierra) order and "self-mine" kickback (3 October 13):
http://bit.ly/SnXpAm

Agreement to covert that order into 30,000 chips (4 March 14):
http://bit.ly/RXrOFe

Declaration of Gregory Bachrach, Liquidbits CEO (? May 14):
http://bit.ly/TyjpcO


And finally, for the moment, the memorandum summing it up (from Liquidbits' perspective) for the motion it made to hold the bankruptcy hearing earlier.  The motion was granted, and the hearing is tomorrow (Fri 23 May):

http://bit.ly/1hcNofg


Just call me PACER.  

But, hey, we should alert the press, and we should inform them of the perspective of the small customer.  This is not just a dispute between Hashfast and Liquidbits, there are also the interests of hundreds of unpaid small customers at stake.

[cedivad]

But, hey, we should alert the press, and we should inform them of the perspective of the small customer.  This is not just a dispute between Hashfast and Liquidbits, there are also the interests of hundreds of unpaid small customers at stake.

That should be a responsibility of the trustee, no? Let's email that ars guy.

Just call me PACER.

It looks like that the adults have arrived and that HashFast is screwed.