It doesn't matter what your ToS said at the time of purchase, no one is going to be refunded 50-60 BTC. It's absurd to even wish that could happen. You're going to get $5600 (or whatever you paid in USD) back and that's it.
Where were you when they were claiming thats exactly what they'd do? I don't recall any posts from you on it then. I suppose you are not actually a HF customer and instead bought from their competition without these "absurd" claims, at 1/5th the price?
Why do you think it absurd? If they'd collected the coins and sat on them after all, they say their fabrication was paid for by investors not by spending preorder money then they could easily return them.
Or do you mean its absurd in that they're now sitting on millions of dollars of other people's coins which they obligated themselves to return but can plausibly escape doing so without consequence because of the cost of a legal fight and the possibility of them spending themselves into bankruptcy first, and so it would be "absurd" to honor their agreement? Is that what you mean?
I doubt they were holding customer BTC. Given the swings that BTC has they would be crazy to play that game. They converted the BTC to USD to pay bills and for R&D. Do you think their employees work for free?
According to Cypherdoc who was acting as a 'paid sponsor' and 'advisory board' member with HF:
I am pleased to announce that I have been selected as a paid sponsor for HashFast Technologies LLC. I have also been asked to join their Board of Advisors.
no, it uses BitPay which will convert your USD to BTC.
from what i understand, your BTC's are going to be guaranteed as well
Yes - what cypherdoc says is true - we endorse this.
they want only those committed to leaving their BTC with HashFast until the end of the year. if they fail to deliver, they have said they will give full refunds in BTC.
once you see details of their Miner Protection Plan and refund details all your fears will melt away.
i've been told up, down, left and right that this is what they will promise. i've even seen it written out in internal docs. but whether or not they'll have the money to do a refund if the end of year rolls around is the risk you take.
This is what was being promised during the first week of sales. Go read yourself here:
https://bitcointalk.org/index.php?topic=270363.0None of Cypherdoc's claims were refuted (nor confirmed) by 'official' HF respresentatives though. But he was being paid by HF and a board member. So at least it set the tone & expectations HF wanted to set to drum up sales. The ToS and Order Confirmation are pretty clear on this however; The original payment will be fully refunded in the currency and amount it was paid in.