Topic: [BitFunder] IceDrill.ASIC IPO (235 Thash Mining Operation powered by HashFast) - page 22. (Read 378671 times)

Anyone feel they have a firm grasp on the status of this venture?

A summary of the situation as I understand it -please correct me where I'm wrong:

· Bitfunder shuts down so accounting for shares transferred to icedrill.io
· HF delivers late with faulty & underperforming hardware
· Shares are converted to profit units and transferred from icedrill.io to cryptomex.io
· All terms and agreements made at the start of the IPO are thrown out in the share conversion process
· IceDrill's reinvestment strategy is scrapped while mining returns diminish and hardware assets devalue
· Profit unit trade becomes subject to KYC information filed with cryptomex
· Profit units depreciate while there remains no method for trade
· Profit unit allocation and dividend distribution executed manually, behind schedule with a fraction of available funds
· IceDrill admin in court seeking financial reimbursement alongside other creditors with HF filing chapter 11

...
Is there any other outlook for investors besides hoping for the largest possible award in the settlement with HF, mining with current hardware for as long as mining return outweighs hosting costs, liquidating assets for whatever value remains and hoping IceDrill management distributes the balance of funds to investors?

give it about 2 weeks.

Eventually, they'll show up.

Just did that. No assets show up.

It's were we get our dividends from Ice.Drill.

https://www.cryptomex.io register with same email used at icedrill.io and I think that's all.

I have not. I wasn't aware I was supposed to. What does that do for me - or better yet, do you happen to have a link to the what and why of what I need to do? I don't want to go registering only to find out that I was supposed to follow some registration process or that my email address of icedrill.io should be tied to cryptomex in some way.

Have you registered at CryptoMex?

I haven't kept track of this thread in quite some time. I verified for a share transfer from bitfunder to icedrill.io but is there something I missed that I should have done after that?

Thanks in advance. Couldn't really see it from the thread.

Soooooooo, how are things coming along with the next dividend payment?

If you outsourced your handling of fiat to Bitreserve (http://support.bitreserve.org/hc/en-us/articles/203399387-Does-Bitreserve-accept-fiat-deposits-) it would eliminate the need for KYC altogether, as they would be required to field all of your regulatory burden. Hopefully it exits beta before / if cryptomex goes live.

As for reward payments, the more divs which are distributed pre-launch the more value icedrill will gain as majority shareholders. It is therefore in your best interests to restore investor faith by honoring icedrill initial IPO terms and paying out public holders the equivalent of 0.0016BTC per share as a bare minimum, before actual trading could ever conceivably begin.

To be blunt, I still see little value in opening up a trading platform without trading mechanisms and div payouts already being established and maintained. At this point IPO terms haven't even been met, our hashfast equipment is worse than useless and there are precious few new manufacturer relationships being formed. The trading platform has no prospect for competition if there isn't at least one decent starter.

As long as these issues remain unsolved, these shares will be worthless even if cryptomex ever actually manages to trade live.

*edit
Also the decimal placing on my asset list is wrong. I mistakenly bought 1112 of these shares and not 111.2 as your interface describes.

I should also reveal for fairness here to any who are still misguided enough to expect full compensation according to existing IPO terms,
that I've already received two separate test payments totalling 0.005293btc from icedrill.
At a promised rate of 0.0016btc per share that still leaves 1.773907btc outstanding.

If this is an attempt to shear away my confidence with mathematical slightery then bravo.

I do think there should be more communication here especially on the exit plan (you guys cannot hash forever in that data center.
But to clear up the above, Will did contact me and offer me the share to pose questions each week and post the answers.   I did not follow up because at the time, we were about to file the Chapter 7 against HF and I felt that there might be some conflicts of interest so the lack of follow up was my doing.

Im failing to see anywhere in that post that would give you the idea that i said its ok for less frequent communication.

In fact i distinctly remember further on in the thread you offering a job to Minor by transferring a share to him,

Obviously since he hasn't taken up the role of Licedrills forum rep,
i can assume he wasn't made an official offer by you or terra
or he decided it was going to be a waste of time calling up bi-weekly and getting no answers.

I would also point out calling you up twice a week for lets say 10mins a session,
You could spend those 20mins a week answering questions reassuring investors on this tread and cut out the middle man

Finally withdrawal processed. Hope the withdrawals will be processed faster from now on. Also when can we expect to get some REAL dividends instead of this dust. Thanks.

I have also received my funds.

Also thank you Will for clarifying what the "N" meant on the withdrawal page.

Finally received my withdraw this afternoon. Thank you! 

Lists of shame:

https://bitcointalk.org/index.php?topic=651315.20

https://bitcointalksearch.org/topic/list-of-major-bitcoin-heists-thefts-hacks-scams-and-losses-576337

Contribute with your votes dear investors...

I agree with this. I've been waiting a week for my payout. If you can't process Bitcoin withdraws instantly, or at the very least daily, there is a serious problem.

I'm waiting over 48 hours and still nothing...

will, if the platform cannot process withdrawals in 1-2 days its fucking problem in bitcoin world where it should be pretty much instant. Not to mention its taking more than 1-2 days now ...

I made a request for withdrawal on 3rd June and still have not received it.How soon can I expect it to be processed.