How often equipment will be expanded? Every two weeks as difficulty raise?
Let's assume that 25% will allow to increase hardware by 10%. After 1 year of expansion in two weeks periods mine will be almost 12 times larger and 12 times more power hungry (1,1^26). And after 2 years 142 times larger !!!. Are this mysterious place is ready for this?
Topic: [BitFunder] IceDrill.ASIC IPO (235 Thash Mining Operation powered by HashFast) - page 114. (Read 378355 times)
August 08, 2013, 10:02:57 AM
August 08, 2013, 09:23:30 AM
you seriously have a swastika as avatar?
The swastika predates the nazi's by a couple thousand years.
And the nazi swastika is right-facing while the hindu version is left-facing. It's subtle, but there is a difference.
I wonder what political symbols and mascots will be taboo in 70 years.
"you dont seriously have a donkey as your avatar do you?"
August 08, 2013, 09:09:34 AM
you seriously have a swastika as avatar?
The swastika predates the nazi's by a couple thousand years.
And the nazi swastika is right-facing while the hindu version is left-facing. It's subtle, but there is a difference.
August 08, 2013, 09:09:06 AM
Mark Zuckerberg built the site from ground and they were already big by the time they released their ipo. You cannot compare that to a company with 0 value which value only comes from the money people put in.
Its like you go to a bank, say I want to start a business and rent a house but therefore I need to buy a house, and for security I give you 50% of the house while you (the bank) finance 100%.
Its like you go to a bank, say I want to start a business and rent a house but therefore I need to buy a house, and for security I give you 50% of the house while you (the bank) finance 100%.
+1, but it goes a bit further: There is no house.
There is just a contractor planning to build a house (DeadTerra). To build that house, DeadTerra is relying on materials to be provided by HashFast, who, in turn, hasn't made those materials yet.
It's turtles all the way down.
August 08, 2013, 09:05:39 AM
gratz 
August 08, 2013, 08:55:16 AM
Question for DeadTerra: What kind of pricing agreement do you have with HashFast? I'm wondering how you will be able to compete with other miners who are getting their chips directly from the factories at "cost". Is this one of the main challenges you will have or is it not really a concern? And why?
Thanks
Thanks
August 08, 2013, 08:46:03 AM
you seriously have a swastika as avatar?
The swastika predates the nazi's by a couple thousand years.
August 08, 2013, 08:42:41 AM
you seriously have a swastika as avatar?
August 08, 2013, 08:13:40 AM
We are working on improving the FAQ and clarifying some of the misunderstandings.
We are also looking to take your feedback and adjust the IPO to the investors demand
//DeaDTerra
We are also looking to take your feedback and adjust the IPO to the investors demand
//DeaDTerra
The first no brainer, Move half of the IPO's first round to BTCT, You will get more audience and exposure.
August 08, 2013, 07:51:43 AM
We are working on improving the FAQ and clarifying some of the misunderstandings.
We are also looking to take your feedback and adjust the IPO to the investors demand
//DeaDTerra
We are also looking to take your feedback and adjust the IPO to the investors demand
//DeaDTerra
August 08, 2013, 05:20:54 AM
Any plans to move to btct?
August 08, 2013, 04:05:54 AM
BTW in such a short notice do you really think you can finish the first round of the IPO without serious whales?
August 08, 2013, 04:01:35 AM
Mark Zuckerberg built the site from ground and they were already big by the time they released their ipo. You cannot compare that to a company with 0 value which value only comes from the money people put in.
This. IceDrill is pretty much "let others buy the hardware, we sit back and reap the profits". It would be better if the shares had a clause where the floated shares break even first and the founders get no profit until BitFunder investors break even.+1
August 08, 2013, 03:05:17 AM
Mark Zuckerberg built the site from ground and they were already big by the time they released their ipo. You cannot compare that to a company with 0 value which value only comes from the money people put in.
This. IceDrill is pretty much "let others buy the hardware, we sit back and reap the profits". It would be better if the shares had a clause where the floated shares break even first and the founders get no profit until BitFunder investors break even. 
August 08, 2013, 03:03:57 AM
Mark Zuckerberg built the site from ground and they were already big by the time they released their ipo. You cannot compare that to a company with 0 value which value only comes from the money people put in.
Its like you go to a bank, say I want to start a business and rent a house but therefore I need to buy a house, and for security I give you 50% of the house while you (the bank) finance 100%.
Its like you go to a bank, say I want to start a business and rent a house but therefore I need to buy a house, and for security I give you 50% of the house while you (the bank) finance 100%.
August 08, 2013, 02:58:01 AM
If you dont disclose any details I have to assume that "the founder" and "private investors" indeed dont finance anything and those 40% are a management fee. So its still only 45% (0.75*0.6)
To rephrase this, you want to keep all investors who finance 100% in the dark.
To rephrase this, you want to keep all investors who finance 100% in the dark.
All companies are like this, the founders get a chunk of the stock in the company. Friedcat owns 50% of ASICMiner and Mark Zuckerburg owns 50% of facebook.
August 08, 2013, 02:55:15 AM
Q:
What is the 40% “management fee” all about?
A:
The remaining 40% is not a management fee. The 40% has been pre-allocated to the founders and private investors the amount or exact details, for confidentiality reasons, cannot be disclosed. If these private investors choose to resell their 40% stake into the market, DigiMex retains the full right to help facilitate this secondary placement into the public market.
What is the 40% “management fee” all about?
A:
The remaining 40% is not a management fee. The 40% has been pre-allocated to the founders and private investors the amount or exact details, for confidentiality reasons, cannot be disclosed. If these private investors choose to resell their 40% stake into the market, DigiMex retains the full right to help facilitate this secondary placement into the public market.
If you dont disclose any details I have to assume that "the founder" and "private investors" indeed dont finance anything and those 40% are a management fee. So its still only 45% (0.75*0.6)
To rephrase this, you want to keep all investors who finance 100% in the dark.
To play around with your example here:
Q:
What does it mean that you are reinvesting 25%. Does that mean that we only get 75 % out of the 60% of the profit of the company?
A:
“The holder of the asset has the right to the full profit of any hardware purchased with these reinvestments”
100% of the farm belongs to investors (total capacity of 500 Tera Hash). 60% of profit is being offered by IPO but the other 40% will be sold as well (either IPO or private sale). You can think of this as a hosted service. DigiMex mostly acts as a pass-through by collecting bitcoin by mining and then pass them to investors. However, just like other mines, we need to keep upgrading our hardware. So, for every 100 BitCoin that we mine (with the ENTIRE mine capacity going forward, not only 300Th), minus cost (say 10), we would distribute 67.5 to shareholders and keep 22.5 to expand the mining capacity of the mine. All new equipment will belong to the investors.
What does it mean that you are reinvesting 25%. Does that mean that we only get 75 % out of the 60% of the profit of the company?
A:
“The holder of the asset has the right to the full profit of any hardware purchased with these reinvestments”
100% of the farm belongs to investors (total capacity of 500 Tera Hash). 60% of profit is being offered by IPO but the other 40% will be sold as well (either IPO or private sale). You can think of this as a hosted service. DigiMex mostly acts as a pass-through by collecting bitcoin by mining and then pass them to investors. However, just like other mines, we need to keep upgrading our hardware. So, for every 100 BitCoin that we mine (with the ENTIRE mine capacity going forward, not only 300Th), minus cost (say 10), we would distribute 67.5 to shareholders and keep 22.5 to expand the mining capacity of the mine. All new equipment will belong to the investors.
Lets estimate you mine 100 BTC, then you pay your costs (minus 10 BTC). The remaining 90 BTC would distribute 22.5 to expand the mining capacity of the mine (thats fair indeed), 40.5 to the shareholders and 27 BTC into the pocket of "the founder" and "private investors" (not fair if they finance nothing)...
August 07, 2013, 09:40:17 PM
I just bought some shares. Looks pretty awesome to me.
The chips are developped by an experienced team! Please don´t mess up with PCBs / installation / management!
Did you add your own hashrate to the difficulty calculation aswell?
No, they didn't. The chips are developped by an experienced team! Please don´t mess up with PCBs / installation / management!
Did you add your own hashrate to the difficulty calculation aswell?
August 07, 2013, 09:28:46 PM
I just bought some shares. Looks pretty awesome to me.
The chips are developped by an experienced team! Please don´t mess up with PCBs / installation / management!
Did you add your own hashrate to the difficulty calculation aswell?
The chips are developped by an experienced team! Please don´t mess up with PCBs / installation / management!
Did you add your own hashrate to the difficulty calculation aswell?
August 07, 2013, 08:07:47 PM
So it looks like the share price / hash power works out about $14/Gh/s starting in November. IMO Labcoin is a better, deal - although you take the risk that their chips might not work.
Fun fact, BTC3300 is the price of the BFL Mini-rig when it was launched, due to the conversion rate at the time.
A single buy of 3000 BTC / 2 milion shares that early in the IPO extreamly fishy.
Fun fact, BTC3300 is the price of the BFL Mini-rig when it was launched, due to the conversion rate at the time.
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