[BitFunder] IceDrill.ASIC IPO (235 Thash Mining Operation powered by HashFast) - page 70.

Bargraphics

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Every man is guilty of all the good he did not do.

Quote from: paul3 on November 12, 2013, 05:30:52 PM

Quote from: lordkabalius on November 12, 2013, 04:21:14 PM

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.

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.

lordkabalius

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Activity: 85

Merit: 10

Quote from: paul3 on November 12, 2013, 05:30:52 PM

Quote from: lordkabalius on November 12, 2013, 04:21:14 PM

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.

Good question! I hope we will get answer!

paul3

member

Activity: 99

Merit: 11

Quote from: lordkabalius on November 12, 2013, 04:21:14 PM

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.

lordkabalius

member

Activity: 85

Merit: 10

Quote from: paul3 on November 12, 2013, 03:55:58 PM

Is there any kind of financial statement that was released?

I'm especially interested if all BTC raised during IPO was exchanged into fiat or we might have profited during the recent rise of USDBTC exchange rate.

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.

paul3

member

Activity: 99

Merit: 11

Is there any kind of financial statement that was released?

I'm especially interested if all BTC raised during IPO was exchanged into fiat or we might have profited during the recent rise of USDBTC exchange rate.

hasher87

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the ice is melting Roll Eyes

Bargraphics

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Every man is guilty of all the good he did not do.

Quote from: will on November 11, 2013, 05:54:07 AM

Hi All

Couple of things which should be done this week:

1. Report on Datacenter readiness, along with some captioned pictures DT took. He's in Canada at the moment, so I'll work with him on it.
2. Clear plan on share transfer: I'm working on a website which should make the transfer/address verification process easier for everyone. We'll be deploying it after the trade lock (14 Nov) and before the shutdown (15 Dec). This will be an interim solution, while the rest of the team works on something a bit more permanent.

Will

That is good to hear, but I'm more concerned with what HashFast is doing to remedy the deal with you guys.

I'm under the impression if they don't deliver by December 31st you can get a full refund. Is this still a scenario you guys are planning for?

will

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Hi All

Couple of things which should be done this week:

1. Report on Datacenter readiness, along with some captioned pictures DT took. He's in Canada at the moment, so I'll work with him on it.
2. Clear plan on share transfer: I'm working on a website which should make the transfer/address verification process easier for everyone. We'll be deploying it after the trade lock (14 Nov) and before the shutdown (15 Dec). This will be an interim solution, while the rest of the team works on something a bit more permanent.

Will

Bargraphics

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Every man is guilty of all the good he did not do.

Quote from: DeaDTerra on November 08, 2013, 09:44:07 AM

A update from both and Willem, will come shortly.
I am meeting with the manager of the Datacenter today, to have a look at the space where we will be hosting the devices.
I will upload some pictures and some more details regarding those aspects.
//DeaDTerra

Latest info we're waiting on

pedrog

legendary

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Quote from: VolanicEruptor on November 09, 2013, 06:41:43 PM

k so what's the exit procedure for BF. Didn't Will say he was going to address this? What do I do with my shares...

Quote from: will on November 05, 2013, 12:11:29 PM

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

Quote from: Flashman on November 05, 2013, 11:47:11 AM

Quote from: DeaDTerra on October 18, 2013, 10:08:24 AM

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.

VolanicEruptor

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k so what's the exit procedure for BF. Didn't Will say he was going to address this? What do I do with my shares...

Rockford

member

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any news regarding the transfer of the shares out of Bitfunder? Undecided

Andymid

newbie

Activity: 9

Merit: 0

[/quote]

HashFast's current delivery is Mid-December (At Earliest)
Cointerra's is at Mid January (At Earliest)

Cointerra says their chip has better specs than HashFast. (We'll see when both of them actually have a working chip to show)

Still very interested to hear what Perks IceDrill may be receiving as a result of this delay.
[/quote]

Does anybody know if the Miner Protection Program of Hashfast applies to IceDrill, or only their own products? Obviously 3 months from Oct 30 (Jan 30) no-ones going to have made their inversion back, so in theory they're going to be handing out 2 extra ASICs for each one sold?
https://hashfast.com/miner-protection-program/

Flashman

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Hodl!

Quote from: Bargraphics on November 09, 2013, 07:48:17 AM

Cointerra says their chip has better specs than HashFast. (We'll see when both of them actually have a working chip to show)

Heh, that could be a "We were more carelessly optimistic than Hashfast" so maybe their fail will look bigger. Though since their schedule was longer in the first place, they may have had the foresight to leave slack, or dotted "i"s and crossed "t"s more thoroughly, who knows.

Bargraphics

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Activity: 518

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Every man is guilty of all the good he did not do.

Quote from: lordkabalius on November 09, 2013, 08:20:02 AM

I can not understand. Why not KNC? it is cheaper and real. I order 4 knc in previous month and receive it 29th. I visit office knc in Stockholm.
It is not advertising, it is just a question why we wait for strongly expensive and slowly hash"fast"? is it possible to cancel order with HF and make new with knc?

Also I can not understand what I must do to keep shares when bitfunder closing?

A contract was likely signed between both of them with a "By this Date" Clause. Sadly HashFast are smooth talkers so I'm sure they convinced IceDrill that there would be barely any delays however if I recall correctly, IceDrill was supposed to get their Chip/Modules end of October/very Early November but HashFast didn't even have their Silicon in hand until Nov 7th so I'm sure there are people pretty upset.

As for KnC, last I saw their Nov Jupiters were sold out. Then there were 49 left, then there were 200 left. So who knows but either way, IceDrill isn't going to get a refund. They are stuck in this and the only thing we can hope for is that they are fighting with every ounce of their being to force HashFast to make this delay right.

lordkabalius

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Activity: 85

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Quote from: Bargraphics on November 09, 2013, 07:48:17 AM

Quote from: iCEBREAKER on November 08, 2013, 03:32:25 PM

Quote from: kleeck on November 08, 2013, 10:47:14 AM

Quote from: ?? on ??

ASICMiner, IceDrill competitor, made a huge investment in immersion cooling capable of 5000+ boards. Their server location is in Hong Kong so the weather is warm. I hope IceDrill can compete.

https://docs.google.com/document/d/1foqSvwX5elsVGG4VkowchCOLBBq7uxwe2qAkX_ltGPE/edit

You think that is your competition?

This is your competition: http://cointerra.com/cointerra-open-silicon-announce-tape-goldstrike1-asic/

HashFast and ASICminer's hardware actually exist, unlike Cointerra's.

Cointerra is more than two months behind HashFast.

Cointerra's first chip will be competing with HashFast's second one.

ALWAYS BET ON iCE...

HashFast's current delivery is Mid-December (At Earliest)
Cointerra's is at Mid January (At Earliest)

Cointerra says their chip has better specs than HashFast. (We'll see when both of them actually have a working chip to show)

Still very interested to hear what Perks IceDrill may be receiving as a result of this delay.

I can not understand. Why not KNC? it is cheaper and real. I order 4 knc in previous month and receive it 29th. I visit office knc in Stockholm.
It is not advertising, it is just a question why we wait for strongly expensive and slowly hash"fast"? is it possible to cancel order with HF and make new with knc?

Also I can not understand what I must do to keep shares when bitfunder closing?

lordkabalius

member

Activity: 85

Merit: 10

Quote from: DiamondCardz on November 09, 2013, 04:06:09 AM

Fucking hell, and I almost invested 1 BTC in this. Tongue

WHAT??? I`am invest 370 btc. this is the real HORROR 8-[]

Bargraphics

hero member

Activity: 518

Merit: 500

Every man is guilty of all the good he did not do.

Quote from: iCEBREAKER on November 08, 2013, 03:32:25 PM

Quote from: kleeck on November 08, 2013, 10:47:14 AM

Quote from: ?? on ??

ASICMiner, IceDrill competitor, made a huge investment in immersion cooling capable of 5000+ boards. Their server location is in Hong Kong so the weather is warm. I hope IceDrill can compete.

https://docs.google.com/document/d/1foqSvwX5elsVGG4VkowchCOLBBq7uxwe2qAkX_ltGPE/edit

You think that is your competition?

This is your competition: http://cointerra.com/cointerra-open-silicon-announce-tape-goldstrike1-asic/

HashFast and ASICminer's hardware actually exist, unlike Cointerra's.

Cointerra is more than two months behind HashFast.

Cointerra's first chip will be competing with HashFast's second one.

ALWAYS BET ON iCE...

HashFast's current delivery is Mid-December (At Earliest)
Cointerra's is at Mid January (At Earliest)

Cointerra says their chip has better specs than HashFast. (We'll see when both of them actually have a working chip to show)

Still very interested to hear what Perks IceDrill may be receiving as a result of this delay.

Anonylz

hero member

Activity: 2562

Merit: 577