Topic: [BitFunder] IceDrill.ASIC IPO (235 Thash Mining Operation powered by HashFast) - page 106. (Read 378400 times)

One point about this that I believe could be a future game changer:

The European Parliament debates on and brings in laws across the European Union (US-based readers may or may not know much about this). All EU countries must and do, almost without exception, abide by EU law. Now the EU are largely VERY progressive especially on 'ECO' matters - they had for example started to phase out the use of high energy-use incandescent light bulbs by 2009, whereas in the US a similar ban has still to come into effect and in California for example it wont do until 2018!

http://en.wikipedia.org/wiki/Phase-out_of_incandescent_light_bulbs

What this means is that the industrial use of electricity by BTC mining companies may be heavily taxed in the future in Europe while in the US it remains unregulated for far longer. The EU parliament has a history of introducing eco laws that are unpopular with business but are popular with the public. I think it would be very easy for btc mining operations to be priced out of the EU given enough bad publicity about 'wasting' massive amounts of electricity. Germany has decided to abandon all of it's nuclear power stations       http://en.wikipedia.org/wiki/Energy_transition_in_Germany     by 2022, they are planning to go completely renewable. Power is an incredibly hot topic as a result in Germany and Germans are generally very eco minded. So it's easy to see them putting pressure on the legislative body/European Commission to introduce a carbon tax on BTC mining across the EU.

A chiller with a compressor for at least ~140RT is probably an extra ~200kWh (compressor, pump, ...) so it's a considerable expense.


Electricity cost is never irrelevant, since it's what keeps the machines alive. The moment operational cost > profit is when they are shut down. It all boils down to efficiency in the end.

I'm not really one for speculation on unconfirmed hardware specifications, I am really only concerning myself with ensuring the required capability for execution is in place. The cold water supply (as well as the option for energy re-use) is simply an option we have to keep in play. Usage of it (and payment for it) will depend on the research we will do once we have the hardware in hand. Optimal, long-term profitability is the main goal and we'll share all the data with the community at large. Thermal experts, like yourself, will have front-row seats on our efforts throughout.

I'm going to now bow out of this house of cards.  Good luck.

If someone does actually meet my challenge then pm me.

EDIT:  this is a time limited offer with no expiry date

yep, trust everhooes- heh
if IceDrill is run the same way this will be the best investment Evvvver

anyways im outta this thread too sketchy

+1

I can't figure out what all the fuss is about. Look at these big buywalls above IPO price. Everybody is winning.

Can't disclose any of our game-changing, proprietary hosting solutions at this time.

Let's just say...
ALWAYS BET ON iCE.
 

Not to mention the articulate poet iCEBAKER.

I have no ulterior motive.  I am indifferent to the success of this venture, fact.  I am trying to stimulate the wtf gland in all who throw money at this scheme.

Here is my challenge;   if anyone can trully account for 100% of the shares sold so far then I will pay them 2 btc.

Interesting that Voorhees, responsible for the sketchiest share sale so far in bitcoin history came here to defend Icedrill, laugh my fucking ass off.
If that isn't a red flag to everyone involved I don't know what is.

?? I'm pretty sure water will get heated above winter temperatures.

Anyway, Electricity cost of 450Kw/h vs profit will be irrelevant for a long while.

Scaling down? You mean lying about magical private investors who come from the clouds and pick up millions upon millions of shares.

It's unfortunate but each and every IPO at this point has a fair share of "scammer" labels passed around, often unfairly. ActM, LABCOIN and BTC Garden all have had this issue. I can only speculate on the motivations - manipulation, pure trolling, not enough adolescent hugs. Who knows?

Personally, I am not participating in this IPO since the terms aren't enticing enough for me but that has nothing to do with a lack of trust in DT. If anything, DT has been responsive to investor requests and has acted honorably. I wish success to all involved - just perhaps not too much success, since I'm skipping this one.

Exactly zero of the heat will get re-used, it simply isnt at high enough temperature to be of any use whatsoever.

Well done Ukyo.

We currently have a location bedded down which can handle that power-draw (expandable up to 2.5MW) and an on-site chiller which will supply us with 5.5degC water-supply (in)
The heated water generated from the ASICs will go directly (out) toward heating a newly-built, medium-sized (20+ floors) skyscraper. Exactly how much of that heat will be re-used is unknown at this stage, and will probably change over time, but it helps that our deployment will happen at the start of the European winter.

This is for the primary location - we have that pretty much wrapped up, but we are looking into other locations that may be better able to handle the heat output, and work better for cost reduction and longevity of the mine (price/kWh). Please understand that buying energy at volume gets much better deals than retail/household prices.

Lots of people complaining here!

Looks to me like DeaDTerra is acting in a favorable manner to the public shareholders.

1) People complained about the "private shareholders" and thus DT offered to pay public shareholders .0016 before any private shareholder gets a dime. That's actually an amazing offer... it means public shareholders get all principle back upon the work of the founders for free.

2) People complained that the terms were changed, fraud fraud fraud! DT simply scaled down the IPO, giving the same price per ghs to the investors as originally promised. To address the continued anger, he now put in a  bid to buy back any shares that early buyers don't want anymore.

Thus he is giving a money back offer to anyone upset, and for those who remain, they get .0016 btc before any private shareholder gets anything!

And yet you yell at DT like he's scamming you?    

I'm guessing, as with Labcoin, a lot of the technical details won't be explained until well after a huge amount of funds have been brought in.

It would also be interesting to know where in Europe this is beeing deployed, considering energy prices in Europe beeing quite high.

Noted, bid changed to 0.001414.
//DeaDTerra

I agree entirely. Healthy competition is key.  My trust is in the communities abiltity to sheriff.