Topic: [BitFunder] IceDrill.ASIC IPO (235 Thash Mining Operation powered by HashFast) - page 74. (Read 378562 times)

lol thats definitely a major typo there 

up next is cointerra to make it the extra lolz

Man, did you just woke up from winter sleep or what?
It's november already and HashFast don't have equipment yet, so does IceDrill. Expected ETA on hardware "in two weeks"...

bitfunder is shutting down, no news on the hardware yet for icedrill. its already october

dead on the water?

https://bitcointalksearch.org/topic/m.3362581

I would also like to know this, now that US users are locked out from selling.

What's the plan for the Btfunder shutdown?

Hi All

Apologies for the quietness, we've been in contact with Hashfast about the new delivery schedule over the last few days.

We'll have an updated delivery date from them on Tuesday and will share it as soon as we get it.

Hashfast have some more pictures

https://hashfast.com/pictures-of-the-ciara-assembly-floor/

I don't think there was any protection plan?  Why would they need one when its not their BTC to lose its the investors?

Anyway the good new is shares are at bargain basement prices now

This thread has been dead silent recently.

I'm interested in the above Bold Text as well.

Any new information or updates since we've last heard from Will on the 22nd?

Sure.  As would the delivery truck drivers who deliver the unprofitable miners.  As would the lawyers, who handle the flurry of frivolous lawsuit which will ensue when miners realize they overpaid and attack the manufacturers.
The popcorn vendors are already counting profits
So i agree.

In that case, the fabs make money.

Here's a possibly amusing aside:
We talk as if mining will always be profitable for *someone*, that someone perhaps being an ASIC manufacturer.  That's not necessarily the case.
The only condition which needs to be met for mining to be unprofitable for *everyone* is money invested in a year of mining needs to be greater than total money available from mining.  This could easily happen if enough manufacturers enter mining, if bitcoin price falls, or if NRE investments by manufacturers are large enough.

No one is ever going to sell IN STOCK Miners at a price that can ROI.  They will just keep them and mine with them. I would say the pre-order model is exhausted as well: there's no trust left and the difficulty is rising so fast now there's no guarantee that a pre-order will ever be profitable by the time you get it, even if it is on schedule.

So yeah, I don't really see much of a future for profitably individual mining. It will be people mining for fun at no real profit, plus big industrial mines fully optimized for power, cooling, etc.

Although theoretically individual miners in their homes may be more cost effective in the long run, since on a small scale people don't have to pay for extra staff, or extra cooling. So a mining hashing ASIC may want to simply fab ASICs and sell them to make money, rather then trying to deal with all the power and cooling and associated issues for running their own large scale mines.  But they'll likely be able to over-charge.

I'm Canadian by the way, if anyone wants a highly critical investor to check things out,  I'll go if you bitches cover my flight 

Do not go there.   Of course you can extrapolate this curve.  Mining will never make money, no one should buy miners until they are in STOCK and the manufacturer has actually risked capital to make a profit.

Guess you aren't familiar with what actually happened there.

1.  Nothing like 'every last cent' was seized.
2.  The seizures weren't because of the business they ran (online poker) but because of offences related to the banking system.
3.  For the 2 largest sites (Stars and Tilt) all player funds of non-US players have already been returned.  In Stars' case they never went missing - and US players there got their funds back very quickly.  In Tilt's case that only happened after Stars bought them out early this year.  With Tilt/Cereus the problem was that the seizures triggered collapse because both were running a fractional-deposit scheme on players' funds - so collapsed when a bank-run occurred post-seizure (Cereus was already in problems even before that).

What got those companies screwed was the way in which they acted to try to circumvent banking restrictions - where similar laws apply across all involved countries.  Also a lot of the offences DID occur in the US - where transactions originating and ending in the US were mislabelled to try to get past US restrictions on bank transfers related to gambling.

Which isn't to say it's necessarily safe to sell BTC-denominated shares to someone in the US from anywhere - just that the example quoted isn't a good one to use as the action taken wasn't because of the "selling" but because of the (irrelevant to BTC) offences committing trying to trick US banks into processing transactions.

You know for a certainty that each of the next 3 difficulty changes beyond the currently pending one will be >50%?

Don't let hubris cloud judgement.

Outside the US isn't black and white, more like shades of gray.  On one hand you have places like Somolia and on the other you have places like the UK whose government is very friendly to their runaway colony.

Case in point.  http://en.wikipedia.org/wiki/United_States_v._Scheinberg
A company outside the US operating servers outside they US, with employees outside the US, regulated and registered outside the US, and owning bank accounts outside the US.

The DOJ with the help of friendly courts in more than 14 countries seized over 87 bank accounts with assets totaling at least half a billion dollars.

Not a single penny was in a US bank account but the DOJ got every last cent along with IP, patents, trademarks, domain names, software source code and sought more than $3B in damages (mostly settled out of court).    Players might have their funds returned to them in 2014 if everything goes according to plan.

We already knew that...