[BitFunder] IceDrill.ASIC IPO (235 Thash Mining Operation powered by HashFast) - page 107.

grimholt

member

Activity: 104

Merit: 10

Quote from: DeaDTerra on August 11, 2013, 06:18:29 PM

Hi!
We have decided to leave the option open for anyone unhappy with the current situation to opt out of the operation.
Please note that we have not changed the contract or diluted any shares nor do we plan to.
Any changes will be made in favor of public shareholder and any costs with the new deal will be absorbed by private share holders.
We are now posting a bid at 0.0014 BTC anyone who wants out may accept it. (right now it is 252 BTC, we will deposit more BTC if needed)
//DeaDTerra

Since most people have a 1 % trading fee, shouldn't you up your bid to 0.001414 if it is to be a full refund?

Vbs

hero member

Activity: 504

Merit: 500

So, 500TH/s using 400GH/s chips, that's 1250 chips rated by the manufacturer at 350W each (I personally don't believe that last part, but ok), for a total of 437.5kW.

Using a 90% efficient power source, that's at least 486kWh both in energy consumption and in heat generated, requiring cooling of at least 1,658,232BTU.

Care to discuss how both of these problems will be handled?

Gyom

donator

Activity: 83

Merit: 10

Zumzero... Agreed about us all sharing an interest in Bitcoin's long term success.

The way I see it, boosting the total hashrate is one of the main ways to ensure this.

Of course, mining is getting more and more complicated, competitive and difficult, as this chart can tell :

http://blockchain.info/charts/miners-operating-profit-margin

Not every single IPO will end up like an ASICMINER fairytale, but as long as the mining power comes online, Bitcoin will be stronger thanks to initiatives such as IceDrill.

DeaDTerra

donator

Activity: 1064

Merit: 1000

Hi!
We have decided to leave the option open for anyone unhappy with the current situation to opt out of the operation.
Please note that we have not changed the contract or diluted any shares nor do we plan to.
Any changes will be made in favor of public shareholder and any costs with the new deal will be absorbed by private share holders.
We are now posting a bid at 0.0014 BTC anyone who wants out may accept it. (right now it is 252 BTC, we will deposit more BTC if needed)
//DeaDTerra

zumzero

hero member

Activity: 602

Merit: 500

myBitcoin.Garden

Quote from: ?? on ??

Quote from: Gyom on August 11, 2013, 06:02:41 PM

I'm not sarcastic. To change the number of shares and price was the issuer's prerogative in this IPO. And as far as I understand, they did it in such a way that the the private investors and issuers are taking that loss against their potential profits, in order to make the deal work.

I guess we are reading the same thing two different ways.

Either way I'm out of this thread. I've sold my shares. I don't want to have anything to do with this shady IPO regardless if it fully succeeds or not.

Everyone involved should enjoy that they are part of the problem with what is wrong in Bitcoin Securities.

This is so true. We all have a vested interest in making bitcoin work. What offends and upsets me is the growing probability that shady IPO's like this will attract govermental intervention which could hang us all out to dry. This is why I feel a responsibility to call it for what it is. Sorry if that hurts anyone, but sometimes the truth does.

Gyom

donator

Activity: 83

Merit: 10

I'm not sarcastic. To change the number of shares and price was the issuer's prerogative in this IPO. And as far as I understand, they did it in such a way that the the private investors and issuers are taking that loss against their potential profits, in order to make the deal work.

N_S

full member

Activity: 238

Merit: 100

Quote from: moribana on August 11, 2013, 05:58:42 PM

Quote from: Gyom on August 11, 2013, 05:51:56 PM

Lots of people seem to be bitching about the fact that some bulk buyers got a discount on the price of the shares.

My question is, did you guys even take the time to read what was offered? Maybe you missed this line from the IPO document?

Quote from: DeaDTerra on August 06, 2013, 04:33:02 PM

The issuer has the right to change the price and/or amount of any scheduled batches of shares.

So what's the fuss all about?

The fuss is about this:

"The first batch is a initial sale of 14,500,000 (14.5 million) shares, which will be sold on BitFunder for 0.0014 BTC per share."

The price could have been changed but according to the announcement the shares were to be sold on BitFunder. And this did not happen.

As far as I can tell - done and done. What transpired is in direct contention with what was promised.

I'd certainly no longer be holding shares...

moribana

full member

Activity: 167

Merit: 100

Quote from: Gyom on August 11, 2013, 05:51:56 PM

Lots of people seem to be bitching about the fact that some bulk buyers got a discount on the price of the shares.

My question is, did you guys even take the time to read what was offered? Maybe you missed this line from the IPO document?

Quote from: DeaDTerra on August 06, 2013, 04:33:02 PM

The issuer has the right to change the price and/or amount of any scheduled batches of shares.

So what's the fuss all about?

The fuss is about this:

"The first batch is a initial sale of 14,500,000 (14.5 million) shares, which will be sold on BitFunder for 0.0014 BTC per share."

The price could have been changed but according to the announcement the shares were to be sold on BitFunder. And this did not happen.

zumzero

hero member

Activity: 602

Merit: 500

myBitcoin.Garden

The fuss is all about people getting ripped off. While that is unpalatable, it is simply the truth here. No fud.

Gyom

donator

Activity: 83

Merit: 10

Lots of people seem to be bitching about the fact that some bulk buyers got a discount on the price of the shares.

My question is, did you guys even take the time to read what was offered? Maybe you missed this line from the IPO document?

Quote from: DeaDTerra on August 06, 2013, 04:33:02 PM

The issuer has the right to change the price and/or amount of any scheduled batches of shares.

So what's the fuss all about?

zumzero

hero member

Activity: 602

Merit: 500

myBitcoin.Garden

Says the man who is currently selling 50,000 shares at 0.00149999 so he can make a massive 5btc profit from the second round IPO.

With loyalty like that, who needs an articulate poet, of sorts?

iCEBREAKER

legendary

Activity: 2156

Merit: 1072

Crypto is the separation of Power and State.

Quote from: Transisto on August 11, 2013, 05:25:38 PM

lol, Look like some of you will be skipping on good opportunity ...

Too greedy to stand that someone might be making a few % more than you ? Good luck in life.

"lol" is right. The ACTM Cultists' pride has been deeply wounded.

The more embarrassed they get, the more shrill become their threats, cries, and impotent protestations.

It's so hilarious that their dumb money fervently but mistakenly thinks itself hot and smart.

That's exactly why dumb money is dumb.

DT and I gave them every opportunity to follow our lead.

And yet, they still blew their chance to get early IPO shares cheap.

Such is the price of their jealousy, stubborn pride, boorish behavior, and general buffoonery.

lol.

moribana

full member

Activity: 167

Merit: 100

Quote from: Transisto on August 11, 2013, 05:13:23 PM

Disclaimer, I'm a share holder.

IMO, Having a few large investors is always a good thing in the sense that those are willing to go to greater length, spend lot more and can sometime provide the missing expertise to make sure things get done.

Having large investors is fine. Breaking even those rules that one has set up himself is not fine.

zumzero

hero member

Activity: 602

Merit: 500

myBitcoin.Garden

Could someone please explain the quantities of shares that have been purchased? Why have millions of shares simply vanished? Firstly 2 million disappeared, then 6 million, than another 1 million. At this point there were just over 6 million to be sold and now...? It's bloody hillarious. Does this not send warnings signals to anyone?

Here's my new IPO;

1 Buy 300 million shares from me.
2 Those that are not sold will vanish.
3 Don't worry those of you who have invested in me because we will simply scale the business.
4 cya

VolanicEruptor

sr. member

Activity: 392

Merit: 250

Quote from: Transisto on August 11, 2013, 05:25:38 PM

lol, Look like some of you will be skipping on good opportunity ...

Too greedy to stand that someone might be making a few hundred % more than you ? Good luck in life.

/fixed

Transisto

donator

Activity: 1731

Merit: 1008

lol, Look like some of you will be skipping on good opportunity ...

Too greedy to stand that someone might be making a few % more than you ? Good luck in life.

zumzero

hero member

Activity: 602

Merit: 500

myBitcoin.Garden

I have been biting my tongue for the last few days and trying not to post on this thread, but I can't resist the temptation anymore.

Seriously folks, at best this is a badly conceived buisness which is designed to line the pockets of the faceless few, or it is an out and out scam. Buyer beware!

The person currently panic selling their shares below 0.0015 has the most sense and it isn't going to take that long for the rest of you to catch up with the reality of what is unfolding here.

Stuartuk

sr. member

Activity: 266

Merit: 250

Quote from: iCEBREAKER on August 11, 2013, 05:07:59 PM

are going to ride their flying reindeer to the Caribbean and swoop down on on DigiMex! Then leave them a polite, friendly letter. Roll Eyes

I will refer you to this:

http://europa.eu/legislation_summaries/justice_freedom_security/judicial_cooperation_in_criminal_matters/jl0053_en.htm

and this:

http://www.sec.gov/spotlight/insidertrading.shtml

and would suggest that while this cluster-feck might not come under the classification of pure 'insider trading' it clearly falls within the remit of the SEC and if US citizens complain to them...well all I can say is that when the US indictes and requests rendition of a EU citizen more often than not that request is fulfilled in a timely manner.

iCEBREAKER

legendary

Activity: 2156

Merit: 1072

Crypto is the separation of Power and State.

Quote from: kingcrimson on August 11, 2013, 05:03:19 PM

Quote from: stslimited on August 11, 2013, 04:50:42 PM

Quote from: kingcrimson on August 11, 2013, 04:47:11 PM

It is funny to me 2/3rds of this thing was bought by private investors... 10,000 coins given by people who crunched the numbers and decided the worst deal was the best deal.

I'm pretty sure its funnier that this outcome was predicted after the first private investor was announced

The whale wanted exactly the number of shares needed to clean the plate, and happened to do it at the last minute. What an amazing coincidence.

I told you so.

You didn't listen.

Nobody to blame but yourself.

Go cry into a pillow and spare us professionals your incessant whining. Kiss

crumbs

full member

Activity: 210

Merit: 100

Quote from: Stuartuk on August 11, 2013, 05:14:07 PM

Quote from: Plazma on August 11, 2013, 05:04:33 PM

I bet this IPO didnt even sell more then 5/10% of the total shares.
The rest were just bought by himself/friends bait and scam investors.

If that is true, (he has come on here and denied this saying they were 'sold to investors') then he is committing fraud. ...

Fraud shmaud, this is Bitcoin! Libertatem et avaritiam aut mori!!1!

Topic: [BitFunder] IceDrill.ASIC IPO (235 Thash Mining Operation powered by HashFast) - page 107. (Read 378660 times)