Quote from: malvino on January 03, 2014, 05:38:37 PM

There is something important: What "All Miners PAID" in the title of the post means for each other

malvino: All Miners PAID = Waldo paid for the miner with his own money and then is selling shares.

paulej: All Miners PAID = He is collecting money from people and using that money to buy the miners. Sometimes, he puts a little of his own money in to buy miners, too, which is why I think he marks them paid. He indicated somewhere that when he gets to about 90% funded, he buys the miners.

Who's right?

I know for sure that I saw a note once where he said he would go ahead and order the miners once a certain percentage of shares are paid. It might be some of his own money used or it might be that 90% of the shares covered 100% of the actual cost.

However, whether the miner was paid for by him or those who bought shares makes no difference. Either way, you purchased a share of a miner that was to be delivered at a future date. He clearly said in the offer that he cannot be responsible for the manufacturer failing to deliver. You knew there was a risk that they would not deliver. This happened with BFL and Hash Fast had no products on the market.

What Hash Fast said was that they would refund the money if they failed to deliver. Right now, they're saying they will only return the USD equivalent of the cost, whereas they apparently said they would return one's BTC. I posted a link above to one of the founders saying he guaranteed buyers' BTC. So, Hash Fast lied. Waldohoover made no false claim, nor did he make any misleading statements. You would not be complaining if the machine had been delivered on time. It was not and there's nothing waldohoover can do about it. If there is any one part of the offer that should stand out in your mind, it's that statement where he said he cannot be responsible for the fact a miner was not delivered.

In any case, it looks like you will at least be able to get a refund for the USD equivalent of what you spent, if the others in the group want to get a refund. I don't know what the group wants to do, but waldohoover has just a few days to submit a request for a refund. He might even opt for filing a lawsuit against Hash Fast, since they did apparently guarantee buyers' BTC. However, this is really up to him (as the recognized purchaser) and, to a lesser extent, those who contributed to the pool.

Anyway, I fully appreciate your frustration. Not all investments work out the way you plan and you should know that. There's nothing misleading in what waldohoover offered. Just sit back and enjoy the ride. I'd guess everyone would love their BTC back, but Hash Fast likely does not have the funds to return it. Another option they do have, though, is to provide even more hashing power. I doubt they'll do that, either. Likely, they're going to go broke over this fiasco.