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Topic: [BitFunder] IceDrill.ASIC IPO (235 Thash Mining Operation powered by HashFast) - page 69. (Read 378562 times)

legendary
Activity: 2156
Merit: 1072
Crypto is the separation of Power and State.
If they're delayed past Dec 31 I get a refund in BTC.  That's fine with me.  Good on IceDrill for wisely forgoing MPP in favor of a bet on BTC appreciation vs fiat.

Sorry again, a nice dose of reality again. IceDrill has already paid quite a bit of money on their datacenter I'm sure. HashFast might not even give them back the exact BTC they paid but instead subsidized at USD level meaning you would get back 1 BTC for every 4 or 5 spent. Be sure that if this were to happen it would be LESS "USD" than you put in at the time due to datacenter costs.

Bargraphics, you are no expert on reality.  Must I remind you of your torrid affair with the fantasy that was Terrahash?   Cheesy

You sound like a lunatic denying and discounting the importance of in-hand silicon.  I never claimed the chips were hashing, that was your strawman.

Too bad Terrahash never had in-hand silicon!   Wink

WRT Icedrill, you fail (as usual) to understand exactly what you're investing in, resulting in you throwing yet another public tantrum.  How embarrassing!

7.  What guarantees have been provided by the hardware supplier in terms of delivery date?  We may not know exactly WHAT the date is, but there's a date after which a refund would be preferable to delivery (as the hardware would never pay for itself from mining).  At what date is a full refund of all funds paid to them allowed to be requested?  Have they provided sufficient financial disclosure that issuer is confident such a refund could and would be honoured in the event they were unable to deliver the hardware by such a deadline?  Estimates of delivery are fine for planning purposes - but a hard deadline beyond which they are in default and must refund (and/or pay penalties) is essential when signing a contract.

From the sales contract:
Estimated delivery date: October 25, 2013.  Hashfast will have no liability for early or late delivery; provided, however,  if
Hashfast does not deliver by December 31, 2013, Buyer may cancel its order for a full refund of amounts paid to Hashfast.

Rather than cancel its order, Buyer may agree with Hashfast to an accommodation.


We have confirmation from Hashfast that they will refund the amount in BTC (i.e. not USD).
hero member
Activity: 910
Merit: 1000
Items flashing here available at btctrinkets.com
I live outside US and am verified on WeExchange, is there something else I need to do in order to recieve dividents and sell/purchase shares ?
legendary
Activity: 1176
Merit: 1015
PS  How was your steak dinner date with LabKen?  Did he take you deep into the Buttcave afterwards?  Oh wait, I know...that's under NDA!   Shocked

ALWAYS BET ON iCE

I regret my bet on Icedrill actually.  It has lost more % than ActM.  The only bet right now that seems to stand a chance in my shitty portfolio is a 2TH/S Cointerra machine..


Dude I thought you offloaded over 100,000 shares at the peak of ActM (0.006+) So how exactly have you lost?
sr. member
Activity: 392
Merit: 250
PS  How was your steak dinner date with LabKen?  Did he take you deep into the Buttcave afterwards?  Oh wait, I know...that's under NDA!   Shocked

ALWAYS BET ON iCE

I regret my bet on Icedrill actually.  It has lost more % than ActM.  The only bet right now that seems to stand a chance in my shitty portfolio is a 2TH/S Cointerra machine..
legendary
Activity: 1176
Merit: 1015
PS  How was your steak dinner date with LabKen?  Did he take you deep into the Buttcave afterwards?  Oh wait, I know...that's under NDA!   Shocked

ALWAYS BET ON iCE
hero member
Activity: 518
Merit: 500
Every man is guilty of all the good he did not do.
I know they are delayed until mid-Dec.  Why are you stating an obvious widely-known fact as if I wasn't aware of it, dressing it up as some kind of 'Gotcha?'
You parade around like a lunatic saying they have silicon implying they are going to start hashing soon. Either you are admittedly trolling or are just in that denial stage of grief.

It does matter what they have in hand right now.  Your idiotic 'always-and-never' put-down is trivial to debunk.  EG, would you rather HashFast NOT have chips in-hand (perhaps delayed until Jan like Cointerra)?

HashFast will be delayed until January more than likely, my wishes have nothing to do with their shortcomings.

If they're delayed past Dec 31 I get a refund in BTC.  That's fine with me.  Good on IceDrill for wisely forgoing MPP in favor of a bet on BTC appreciation vs fiat.

Sorry again, a nice dose of reality again. IceDrill has already paid quite a bit of money on their datacenter I'm sure. HashFast might not even give them back the exact BTC they paid but instead subsidized at USD level meaning you would get back 1 BTC for every 4 or 5 spent. Be sure that if this were to happen it would be LESS "USD" than you put in at the time due to datacenter costs.

My mid-Dec Sierra is far from a paperweight.  Your shrill minimization of a 1.2+ TH beast's potential ROI in USD underscores the deficiency of your argument.
Yes, enjoy your ~25BTC over it's lifetime.
The ~180 BTC you paid for it means nothing LOL.

I'm happy your KnCs are doing so well, as are the KnCs in the group buys in which I participated.  Have fun fiddling with firmware, while I sit back and collect dividends with zero effort.   Wink
Like usual you are wrong,
All 11 KnCs are Hosted without worry. Paid for themselves and hosting about a week ago. Got 6 more months of "zero effort" mining.

Don't both responding to this as I've put you back on ignore, all you do is come in and bring threads off topic with personal vendettas. I'm more interested in what Will and Deadterra are doing to remedy this situation, they don't want to get a refund because they have the datacenter ready. They want extra hashpower to make up for HashFast being so damn late but sadly I don't believe HashFast will have the Silicon available to give them this. It's not a good situation to be in for either Company.
sr. member
Activity: 493
Merit: 262
I'm looking to sell my remaining 19408 shares before the move into direct shares. Drop me a line with your offer.
legendary
Activity: 2156
Merit: 1072
Crypto is the separation of Power and State.
Please wake up,

While I understand you are a little mentally unstable you are not blind nor stupid.

They are delayed until Mid-Dec at earlier, doesn't matter what they have in hand right now it's not hashing. They will likely be delayed past Dec 31st due to holidays or some other issue and then every customer is entitled to a refund besides the newest that are purchasing unknowingly into that mess and on a different TOS.

Enjoy your paperweight with no MPP in Mid December. I'll enjoy the 7TH worth of KnC I've been mining with for more than a month. (395 coins mined and counting)

I know they are delayed until mid-Dec.  Why are you stating an obvious widely-known fact as if I wasn't aware of it, dressing it up as some kind of 'Gotcha?'

It does matter what they have in hand right now.  Your idiotic 'always-and-never' put-down is trivial to debunk.  EG, would you rather HashFast NOT have chips in-hand (perhaps delayed until Jan like Cointerra)?

If they're delayed past Dec 31 I get a refund in BTC.  That's fine with me.  Good on IceDrill for wisely forgoing MPP in favor of a bet on BTC appreciation vs fiat.

My mid-Dec Sierra is far from a paperweight.  Your shrill minimization of a 1.2+ TH beast's potential ROI in USD underscores the deficiency of your argument.

I'm happy your KnCs are doing so well, as are the KnCs in the group buys in which I participated.  Have fun fiddling with firmware, while I sit back and collect dividends with zero effort.   Wink

PS  How was your steak dinner date with LabKen?  Did he take you deep into the Buttcave afterwards?  Oh wait, I know...that's under NDA!   Shocked
hero member
Activity: 656
Merit: 500
Hi All

Just a quick update:
1. DT and I have gone over the DC readiness pics, captioning as we go. Just need a bit of editing still to do, but should be forthcoming before the end of the week.
2. Not sure if bitfunder trading is stopped now, that security cert looks a bit weird to me so I don't want to login. Regardless, I'm taking snapshots of the IceDrill.ASIC share list here: https://bitfunder.com/assetlist, will consolidate with what we get from Jon Montroll. He seems to be having a fight with bitcoind at the moment... We should have something basic up and running by the end of the weekend to login and verify addresses, if all goes as planned.

Working with Hashfast is ongoing, I'm in touch with them at least twice a week, and will share what information I can when I can.
I can confirm that there is a guaranteed delivery date (refund date). And that we did pay in BTC. Both these points are public knowledge.


And the date is? If you know this information this should be available to at least your shareholders.
hero member
Activity: 518
Merit: 500
Every man is guilty of all the good he did not do.
Hi All

Just a quick update:
1. DT and I have gone over the DC readiness pics, captioning as we go. Just need a bit of editing still to do, but should be forthcoming before the end of the week.
2. Not sure if bitfunder trading is stopped now, that security cert looks a bit weird to me so I don't want to login. Regardless, I'm taking snapshots of the IceDrill.ASIC share list here: https://bitfunder.com/assetlist, will consolidate with what we get from Jon Montroll. He seems to be having a fight with bitcoind at the moment... We should have something basic up and running by the end of the weekend to login and verify addresses, if all goes as planned.

Working with Hashfast is ongoing, I'm in touch with them at least twice a week, and will share what information I can when I can.
I can confirm that there is a guaranteed delivery date (refund date). And that we did pay in BTC. Both these points are public knowledge.


Thanks for the update, looking forward to the pictures.

Did you confirm that your refund would be in the exact BTC you paid in? There seems to be mixed reviews on what HashFast has stated they would do in regards to refunds like these.
full member
Activity: 179
Merit: 100
Hi All

Just a quick update:
1. DT and I have gone over the DC readiness pics, captioning as we go. Just need a bit of editing still to do, but should be forthcoming before the end of the week.
2. Not sure if bitfunder trading is stopped now, that security cert looks a bit weird to me so I don't want to login. Regardless, I'm taking snapshots of the IceDrill.ASIC share list here: https://bitfunder.com/assetlist, will consolidate with what we get from Jon Montroll. He seems to be having a fight with bitcoind at the moment... We should have something basic up and running by the end of the weekend to login and verify addresses, if all goes as planned.

Working with Hashfast is ongoing, I'm in touch with them at least twice a week, and will share what information I can when I can.
I can confirm that there is a guaranteed delivery date (refund date). And that we did pay in BTC. Both these points are public knowledge.
hero member
Activity: 518
Merit: 500
Every man is guilty of all the good he did not do.
hashlast Sad

HashFast have their chips in-hand.

That's more than LabKen, BlackArrow, BitMine, and ConTerra have going for them.

KnC won the race to 28nm, but that only the first skirmish in a longer war for 3rd gen ASIC dominance.

Man up old boy, and

NEVER BET ON iCE...

FTFY

Please wake up,

While I understand you are a little mentally unstable you are not blind nor stupid.

They are delayed until Mid-Dec at earlier, doesn't matter what they have in hand right now it's not hashing. They will likely be delayed past Dec 31st due to holidays or some other issue and then every customer is entitled to a refund besides the newest that are purchasing unknowingly into that mess and on a different TOS.

Enjoy your paperweight with no MPP in Mid December. I'll enjoy the 7TH worth of KnC I've been mining with for more than a month. (395 coins mined and counting)

legendary
Activity: 1176
Merit: 1001
HashFast have their chips wafers toner cartridges in-hand.
ftfy



We do something right in italy.
legendary
Activity: 2156
Merit: 1072
Crypto is the separation of Power and State.
hashlast Sad

HashFast have their chips in-hand.

That's more than LabKen, BlackArrow, BitMine, and ConTerra have going for them.

KnC won the race to 28nm, but that only the first skirmish in a longer war for 3rd gen ASIC dominance.

Man up old boy, and

ALWAYS BET ON iCE...
sr. member
Activity: 392
Merit: 250
donator
Activity: 1064
Merit: 1000
Any news about whats going to happen with the bitfunder shutdown

Yes. We met today to discuss it. The general consensus is that we'll stick to the original plan, expanding it to everyone now.

Hi All
As it looks now this is our plan:
Everyone will be able to trade until the 1st of November, at this time anyone who has not been verified or are US citizens will not be able to trade the shares on BitFunder. We will be able keep paying dividends on BitFunder up until the 1st of December. At that point we will receive a list of all non-verified users/ US citizen accounts (the address and amount of shares). We will take this list and convert it (destroy at BitFunder and maintain a list internally) into offline shares. We’ll call them “direct shares” and pay dividends to the bitcoin address we’ll be given by BitFunder.

To this end, please ensure you are in direct control of the bitcoin address we’ll be receiving from BitFunder on 2 December. If you cannot sign a message with the address then you are not in direct control of it. For example, a deposit address at an exchange is NOT under your direct control. This is to ensure future tradability of the shares. If you cannot prove you own an address then it will remain untradable indefinitely.

Just to be clear: the solution to making these shares tradable is not technical, it’s legal. We’ll be exploring several different options hard to allow these direct shares to float once again.
//DeaDTerra

Same plan for everyone now? ...... now ButtFinder can't, with both hands... or something.
Both me and Will are traveling right now. So we might be a bit slow at answering and giving announcements, sorry about this.

What we plan to do short term is when BitFunder shuts down we convert all shares into direct shares, which will be non transferable to start with.
Then we will either relist (on a exchange we find suitable for us and will be reliable long term), or we will start working on a way to automate transfers of shares between owners. As shown by AsicMiner to do manual transfers of shares between owners is not reliable and causes errors, hence we would like to avoid that.
Does this answer your question?
//DeaDTerra
legendary
Activity: 2786
Merit: 1031
Any news about whats going to happen with the bitfunder shutdown

Yes. We met today to discuss it. The general consensus is that we'll stick to the original plan, expanding it to everyone now.

Hi All
As it looks now this is our plan:
Everyone will be able to trade until the 1st of November, at this time anyone who has not been verified or are US citizens will not be able to trade the shares on BitFunder. We will be able keep paying dividends on BitFunder up until the 1st of December. At that point we will receive a list of all non-verified users/ US citizen accounts (the address and amount of shares). We will take this list and convert it (destroy at BitFunder and maintain a list internally) into offline shares. We’ll call them “direct shares” and pay dividends to the bitcoin address we’ll be given by BitFunder.

To this end, please ensure you are in direct control of the bitcoin address we’ll be receiving from BitFunder on 2 December. If you cannot sign a message with the address then you are not in direct control of it. For example, a deposit address at an exchange is NOT under your direct control. This is to ensure future tradability of the shares. If you cannot prove you own an address then it will remain untradable indefinitely.

Just to be clear: the solution to making these shares tradable is not technical, it’s legal. We’ll be exploring several different options hard to allow these direct shares to float once again.
//DeaDTerra

Same plan for everyone now? ...... now ButtFinder can't, with both hands... or something.
full member
Activity: 428
Merit: 100
Any news about whats going to happen with the bitfunder shutdown
sr. member
Activity: 299
Merit: 250
It`s unreal. cause who must take profit? Why buy IPO or why owned IPO now or why owned IPO most time? Or calculate profit for each day owned? Or pay only them why owned in day, when rate it rise up?

Better use money to buy high quality miners.


Amount from public share sales -> 23,910 BTC, when BTC was slightly above $100/BTC -> $2,391,000

Mine Gh/s -> 235,294 Gh/s
Sierra units required -> 196 Sierras

A total investment for the Sierras of $1,862,000, if no discount was granted (November Sierra $9,500).

For me it is a difference if there is left about $500.000 today or about 5,000 BTC. That was my question.

This is THE question that absolutely deserves an honest and detailed answer. With figures.
member
Activity: 85
Merit: 10
Quote

Remember that they were supposed to get this in October which is funny considering HashFast didn't get their silicon from the fab until November 7th

I wonder what a December Sierra would be priced at, their "Third Batch" is priced at $6,300 per Sierra with Mid to End January Shipping.

I imagine December pricing would fall in between at around $8,000/Sierra (1200GH)

They would be able to get close to 300 Sieras for ~2.4M
or 360TH without discount.

With their discount they literally should be a 500TH mine now. Truth of the matter is, HashFast won't ever have enough chips to provide this to IceDrill and to all of their customers in any decent timeframe.

We can only wait until we hear word from Will or DeadTerra on this, right now we can only hope that IceDrill paid in BTC since I believe HashFast said they would honor a refund in the payment type made of same amount if they go past their December 31st deadline.


Good questions again and again..
IceDrill nothing change in profile about gh rate. I need to know what is IceDrill`s plan?
Just wait for hashfast and start with 250-360 th in Jan?
IceDrill must tell us all we want to know.
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