Topic: [BitFunder] IceDrill.ASIC IPO (235 Thash Mining Operation powered by HashFast) - page 104. (Read 378660 times)

Can you please show us what hashfasts previous work involves?  What kind of products have they produced and for what companies??  I'd love to see some of their work but there seems to be limited information on them

So, you're all in?

Hi!
We have now finalized the deal with HashFast.
The impact on the public investors is as follows:

1. The third batch does not need to be sold for the IPO to be deemed a success. This is due to that HashFast has changed the minimum amount of capital we need to bring them. Instead the more of batch three we sell the larger amount of Hashing power we can acquire. Please note that each share will still have the same initial hashing power (10 Mhash) independent on the amount we manage to raise in batch three.

2, There is a price change which will be absorbed by the private investors. Once we know how many shares we have sold and hence the hashing power the farm will have, the private vs public share ratio will be released. Please note that it will be under or equal to the current 60/40. (Please note that this is the same as for the discounts for the bulk purchases, as we maintain the hashing power per share of the public shares we will have to issue less private shares to pay for these discounts)

3, The amount of shares sold will be floating, with a maximum of 36.636 Million shares and a minimum of the current 17 million. The percent ownership of the profits will be adjusted so that each share is worth the capacity of 10 mhash at startup, please note that this percentage can only go up and not down. Hence it can not go below the current 1/50,000,000.

We think that these changes should not affect the attractiveness of the public shares and we have tried to keep the promises made as much as possible. In the cases where we could not we have tried to make it a neutral or positive change for the public investors.

//DeaDTerra

Wrong.. activemining was.  It started with just promises of future mining divs.  Shareholders convinced Ken to merge VMC with AMC to include proits of future hardware sales, AND pay shareholders .0025/div before Ken gets a cut.  THAT was a heavily-weighted-toward-the-shareholder agreement!   

Sarcasm or was the wall higher than the 1.75m that it is now (at the time of typing)?

Is that true?

So far he hasn't confirmed that all funds raised from IPO are being used to the benefit of investors - so it's not clear yet whether some of the IPO funds ARE going to DeadTerra.  I'm not claiming that he IS going to pocket some of the IPO funds - just pointing out that he hasn't yet clarified that detail.

EDIT: There wouldn't be anything 'wrong' with a cut of IPO funds being taken - but it would mean your statement was wrong.  The impression a quick read of the contract gives is that it's shares/revenue share in a company being sold.  But closer examination suggests it may actually be a PMB that charges expenses and reinvests (compounding profit OR loss) - with any benefit of cheaper prices from large-scale purchase not actually being passed through to investors.  If ALL funds raised from IPO are staying in the company and being used for the benefit of investors then your comment is true - and it's a decent offering.  I'm not convinced that's the case - but obviously DT can clarify if he chooses to and hopefully I'm just reading too much into what wasn't stated.

IceDrill is paying out .0016 to bitfunder shareholders before a single dime goes to DeadTerra.

I do not understand this constant hating on DT for what is probably the most heavily-weighted-toward-the-shareholder agreement on the market.

Of course he will be responsive and supportive. He's asking for millions of dollars without a solid plan that benefits himself and his partners first.

The doubts and criticism have nothing to do with how nice he might be.

Ask wall is being rapidly bought up.   Get them while they're cheap!   

DT, can we order some Cointerra chips too, as a hedge in case Hashfast is delayed or misses spec?

Did someone lose a sock puppet?

-helixone

hi, here is forum,we discuss and debate. if you do not like it, go to your church.

You see this forum as a church, and DeadTerra as a priest?  I think he's more of a prophet, and his martyrdom is needed to fulfill the great prophecy.  BTW, who are the two kids on crosses beside him?

greetings fellow bitcoiners... i'm new to this ipo but reading thru it is like taking a bus where the bus driver hits gas then brake every 2 seconds...

bottom line, deadterra seems to candid, honest, sincere, genuine and the level of integrity he's shown to this ipo should be rewarded.  for those who've been

crucifying him, you should really ask yourself if its worth spending time typing a post for something you don't believe in.  its like being in a church, listening to the sermon and staying till the end telling the priest his message was crap... why not just get up and leave?  do you really have to tell the priest he's a piece of crap?  i guess if it makes you feel good...

I agree, so far DeaDTerra was very responsive and supportive. People not happy with this IPO can leave freely without losses.

@Canopener, maybe you should get up to speed on bitcoin, mining and how these IPO's respond to information. Watch the market for a week and see how desperate anyone is for the latest gossip or tidbit from a phone call with this insider or that one and how the price roller coasters with that info. There is little liquidity, and the market reacts a magnitude faster to price changes, rumor, leaks than what you are used to in the real world stock market.

The people speculating on these stocks are not at all like sophisticated traders in the forex or commodities markets (myself included), we are all getting the education of a lifetime in terms or trading patterns, IPO's, the SEC.

An insider with accurate information has a significant advantage in this environment.

Clearly, none of this IPO is being approved/scrutinized by the SEC and therefore this whole operation can absolutely be as discretionary as it can get.

ah ok, thanks for articulating that for the others whom I had a tough time understanding. i am not familar with the BitCoin universe like you guys. So, I can only speak about what I know (ie. securities and regulations). Your point is fair ArcticWolf.

Sorry, I am not familiar with the BitFunder platform. After the IPO, what happens? Would there be ample liquidity for people to unwind positions? ie. if I hold 10% shares, can I just dump into the market immediately? If there is no liquidity to unwind, would I just need to hold and wait for dividends to be paid out? (This is a heroic assumption but I would assume that no one is brave enough to bid for 10% of any IPO without some pretty strong faith in the IPO, right?)

His fear is that if - further on down the road - the chips are delayed or dont work, the private investors could be given this information before the rest of the regular investors, giving the private investors a chance to sell their shares before the market downturn that this kind of news would bring

Good try on coming up with an example Ytterbium. I like to talk about facts and specifics because it brings constructive value to this board.  To thread crap with a bunch of ill-informed fiction is a waste of time.  Now, back to topic...

I could be wrong but if the 'insiders' know that chips don't work and would be delayed, why would 'insiders' buy the shares to begin with? Shouldn't they get the hell out instead of buying up shares?

Again, I am happy to have a civilized conversation/debate.