Topic: [BitFunder] IceDrill.ASIC IPO (235 Thash Mining Operation powered by HashFast) - page 111. (Read 378660 times)

Selling low?, I'll just wait for refund.

+1

Let's give the OP an opportunity to clear things up. Please could you disclose/clarify...

• What price the private investors paid for their shares.
• Whether they will have the same management fee deducted.
• What insider knowledge, news ahead of public release, or otherwise preferential treatment might be available to some or all private investors.
• On what basis the private investors were given the opportunity to be so.
• Whether the private investors give or receive any other benefits as part of the deal.
• Whether any of this is against the IPO rules, either your own or those of the exchanges.
• To what extent the operators of the exchanges running the IPO were made aware of any of this.

Thanks.

Nobody here cares about your worthless biased opinion VaginicEruptor.  Unlike you, DT and Cypherdoc are among the most reputable members of the BTC investment community. 

Take the pom-poms and megaphone back to your insular little pep rally thread!   

The IPO cannot fail unless they want it to fail. As DeadTerra said in his previous post:

"If we could and wished to lower the limit of fund raising we simply would announce a change in the batches, as we are allowed to."

So they can do whatever they want and there are no rules.

And who knows what happens after the IPO? Maybe the "private investors" will dump their cheap shares on the market...

*contacts Discovery Channel*

If IPO fails hitting target by Monday deadline, there will be a buy back shortly after?

Looks like people are trying to get out..

Ask on bitfunder: 52,878    ฿0.0013990

Like HashFast in general, IMO.

CMMPro is right, I'm not investing a single dime into this IPO because it's shady as hell..

What he really means to say is that the investors didn't want to see their huge buy order fulfilled on the open exchange where everyone could see it.

This hides the share sales / momentum from everyone.


The funny thing is that if he had forced them to buy on the open market at normal IPO price the other investors may have gone wild and likely bought up all the rest of the IPO and made it successful, instead this has left a bad taste in at least my mouth and I won't buy into this no until the IPO fails or the price floats on the open market.

I'm left with the logic that these "private investors" surely didn't pay full IPO price either and that is the only reason they would make the deal out the back door and out of the public eye.

These IPO's have to be taken a lot more seriously by these guys, what a joke.
This is the shit that gets the SEC interested in what is going on here.

What a load of horseshit this private investor thing is...I was hanging in to the last minute before possibly buying a chunk of this but if this is the way things are being done before the IPO I can imagine your private investors will get all kinds of favorable treatment when it comes to the company later also. Will they get a heads up a day before bad news is dished out to the rest of the investors? How can we have confidence that preferential treatment like that won't happen since it was dished out this time?  

Anonymous? Really? That doesn't even make sense. ALL purchases are anonymous when they are done on the public exchanges.
All this does is exempt them from the process that all other shareholder have to go through to buy stock and offers them preferential treatment against all the remaining shareholders. We don't get a chance to see the huge sales via the exchange so we have no idea of the true demand and momentum of the stock.

This is blatant manipulation, preferential treatment of some shareholders over others and at a minimum violates the promises in the IPO that the funds will be issued on the open exchange.

for their private investors

That would be some great bitcoiner porn!

You guys should do a documentary while setting this up.

I'm in! As of right now there are still 5,855,921 shares remaining in the first offering. I sure hope some more private investors scoop some of this up as I don't see how we'll make the deadline otherwise.

Hi All. DeadTerra asked me to post these as he's travelling at the moment. He'll add a link to it in the top post when he's back online.


Q1:  
A: It is unknown as of yet what the exact cost/benefit effect of the over/underclocking of the golden nonce will be. The word “Ice” in the mine’s naming alludes to our confirmed, large-scale capability to achieve the safest, and most profit efficient mining state long-term. Testing this novel innovation of Hashfast will be a major part of our ongoing research once the mine is safely up and running at nominal speeds. Any advantage gained from safe overclocking will of course be passed on to shareholders as per the profit share agreement.

---

Q2:
A: We are currently working out a pro-rata deal with HashFast. We are optimistic that something will be worked out such that the farm would still be launched even if Tranche 3 fails. However, total size of the farm would be smaller but the profit split would remain the same. (ie. as reference, if you paid 0.0014 BTC for 1 share, you were entitled to profits after cost of roughly 10 Megahash. This ratio will remain the same.)

---

Q3:
A: The schedule would be similar to dividend payouts. We are aware that hardware prices can fluctuate over time and there is no reliable way to time the market. However, as the reserves are deducted from our accounts, we would buy new hardware with that money and install it ASAP.

---

Q4:
A: We will be as transparent about the operational costs as possible. We will post rental cost, electricity cost, staffing costs, maintenance costs, and upgrade costs. We will post the total hash rate of the mine for everyone to track, so you can see the new hash rates after upgrade. The ‘management fee’ will be nil. We have a fiduciary duty to maximize return for our shareholders. However, please note that some items need to remain confidential due to security and confidentiality reasons.  

These private investors are people who wants to buy public shares in bulk and do not wish to disclose their identity, hence private not public. A better wording would have been anonymous or undisclosed investors.
These are not to be confused with the privately held shares (the 40%).
If we could and wished to lower the limit of fund raising we simply would announce a change in the batches, as we are allowed to.
There would be no need to claim to have anonymous investors, it makes no sense.
We are looking to announce the wallet holding the funds for IceDrill.ASIC so that you can transparently see as funds are being moved into it.
//DeaDTerra

Because if that were not the case, DT would have bothered to list on BTCT, MPEX, and possibly Havelock.   

This IPO is a done deal.  If you don't want cheap shares, keep believing the (poor quality) FUD.   

DT is being his usual altruistic, generous self, providing a service to the community by creating a golden (nonce) opportunity to benefit from 28nm Gen3 ASICs with logarithmically lower barriers to entry than pre-orders.

He has plenty of his own resources and doesn't need to do this nice thing to get richer, but realizes preserving the long-term viability of BTC is very much in his interest. 

Even a misanthropic Randroid like me can appreciate this Swedish socialist logic!   

  Yep it is a blatant load of crock. They aren't even honest enough to admit they over reached, and lower the goal...Not two days in and they are already BS'ing their shareholders. Couldn't expect any less from DT.

Y U no faith moar? >> "6750 Bitcoins has been brought in through bulk purchases of public shares by private investors." //DeadTerra