Topic: [BitFunder] IceDrill.ASIC IPO (235 Thash Mining Operation powered by HashFast) - page 80. (Read 378562 times)

I'm sure they will offer that as a last resort, ohh we listened to the community here you go, we are so nice, until then they will try to come up with the best way to fuck the public investor out of the company. Like selling hardware for 10000% mark ups to it's investors.

Why can't the shares become non-exchangeable "direct" shares? I would be OK with that.

and just sold, go fuck yourself icedrill. Will buy you again when you are worthless like labcoin. These guys are a fucking joke. They have tried to change the contract a handful of times already.

Offering completely retarded solutions, that even a 5 year old can see make absolutely no logical sense, ex. small shareholders.

If you have shares get out while you still can this is going to be Labcoin 2.0, even if they deliver, the shadiness of them trying to change the contract hundreds of times, and offering complete scumbag solutions, like we'll sell you over price hardware only for users with massive amounts of shares, shows this isn't going to end well.

It's hard to know how to value this proposal w/o knowing where in the delivery queue IceDrill sits.  Are the IceDrill Sierras from HasFast's 'batch one' which is expected to start shipping at the end of this month (Oct)?  If so this maybe a better option than selling at a 30% loss on BitFunder.  If we are talking about 'batch two' time frame though then this deal probably represents a greater loss than selling. Here is my thinking...

HashFast priced their BabyJet batch one at $5,600 and batch two at $2,760 this represents a price reduction of about 50%.  HashFast never offered a batch one for their Sierra's (presumably because they were sold privately to IceDrill) they did offer a batch two Sierra though for $7,080.  So we can assume that had a batch one Sierra been sold it might have been priced around $14,000.  120,000 shares of IceDrill  @ 0.0014 BTC with an exchange rate of $100/BTC which is about where the market was at the time of the IPO if I recall would be $16,000 per Sierra.  So you'd be looking at a roughly 12% loss over having just bought the hardware had it been available.  On the other hand if these are batch two Sierras then you are looking at 7k vs 16k which is a 55% loss.

For share holders with less than 120k shares or a non-evenly divisible number it's impossible to make a reasoned comparison between the hosting option and selling w/o knowing any additional costs that would be incurred.  I think it's safe to say though it wouldn't be better than the scenarios above.

I don't like either of these options as specified, especially holding less than 120k shares.  We need a proposal that maintains shareholders original expectations of dividends and reinvestment even if that means removing the exchange from the equation.

Investing in IceDrill shares was always a risky proposition but it is looking like this whole BitFunder debacle is going to be a shit sandwich no matter how you cut it.

Hey guys we want to change the IPO so private investors get more and you get less.  Oh wait we are going to change our minds as this was a dumb idea.

Hey guys we can sell you miners at triple the current price on the website even though we got a massive group buy discount and you only have a few day to claim this prize. Or you can hold on to the bonds and watch your investment slowly melt to zero as we come up with more stupid ideas and kill the price.

Ice drill are you having brain freeze?  Did your ice caps melt?

With their past responses as a guide expect an answer of this sort. We will use ice lasers to cut the hardware to your corresponding share, so it leaves a smooth cut.

The level of incompetence in Bitcoin is mindboggling

So... I asked about what happens if you don't have enough shares for one unit of hardware and didn't get an answer... I think my question would apply to a lot of people...

At least Labcoin posted normal things, they just never followed through with it. These guys post completely retarded things. Yeah we will just sell you over priced hardware, lower the mining capacity, lower reinvestment potential, and basically murder our company.

OOH BTW you have a whole 6 days to take advantage of this. Where did you morons think for a second this was a great plan?

Have fun guys



NEVER BET ON ICE

 

IceDrill continues to post dumb shit...  Labcoin 2.0?

maybe havelockinvestments could help?

From what I understand


This means I don't have to get rid of my shares but it wasn't clear if Dividends can still be paid for them (If not then I agree with you, someone verified would have to hold them)
If Dividends can still be paid, I can still withdraw bitcoins from bitfunder and would rather just leave the shares in there.

1200,000 Mh unit will cost 120,000*.0014 = 168BTC or aprox $22,000 USD

corrected typo but calculation is still correct. I'm pretty sure it is 1.2 TH for the babyjet...

You need someone verified to do that for you.

I think you're missing a couple decimal places..
.014?  

also, that is 1.2GH, not 1.2TH

So for a 1.2 TH unit it will cost 120000*.014 = 168BTC or aprox $22,000 USD

The cost of this direct from the website is $7,080
https://hashfast.com/shop/sierra-2/?gclid=CILwmeTRiroCFUMzpAod5UMAzA


Can you confirm my calculations?