[BitFunder] IceDrill.ASIC IPO (235 Thash Mining Operation powered by HashFast) - page 98.

VolanicEruptor

sr. member

Activity: 392

Merit: 250

Quote from: yuansuyi on August 16, 2013, 10:32:43 PM

Quote from: ?? on ??

You should find another exchange that doesn't require the user to use some experimental buggy exchange service.

I went to sign up to bitfunder to purchase a few shares who required me to sign up to some weexcahnge site. When i went to sign up there I recieved this warning.

Quote

!!!!! ATTENTION !!!!!

THIS SITE IS IN BETA DEVELOPMENT AND MAY BE PRONE TO ERRORS.

Due to unforeseen circumstances database rollbacks may happen.
All information is kept private. We do not share it with anyone.

PROTECT YOUR ACCOUNT LOGIN INFORMATION.
We are not responsible if someone can access the account.
We highly suggest you use advanced authentication methods such as GPG.

The owners of the site obviously don't trust the software, so why should the users?

You even trust in ICEDDRILL, you should way more trust in bitfunder and weexchage.

bad English = bad logic?

yuansuyi

member

Activity: 210

Merit: 10

Quote from: ?? on ??

You should find another exchange that doesn't require the user to use some experimental buggy exchange service.

I went to sign up to bitfunder to purchase a few shares who required me to sign up to some weexcahnge site. When i went to sign up there I recieved this warning.

Quote

!!!!! ATTENTION !!!!!

THIS SITE IS IN BETA DEVELOPMENT AND MAY BE PRONE TO ERRORS.

Due to unforeseen circumstances database rollbacks may happen.
All information is kept private. We do not share it with anyone.

PROTECT YOUR ACCOUNT LOGIN INFORMATION.
We are not responsible if someone can access the account.
We highly suggest you use advanced authentication methods such as GPG.

The owners of the site obviously don't trust the software, so why should the users?

You even trust in ICEDDRILL, you should way more trust in bitfunder and weexchage.

drawingthesun

legendary

Activity: 1176

Merit: 1015

Quote from: Kuroth on August 16, 2013, 09:26:56 AM

So is this a good Stock to get into right now?

Depends, a load of weak hands are selling cheap. If you are going to hold the stock until December it will be worth it. But if you want to sell this month then don't buy it.

limbaugh

legendary

Activity: 1311

Merit: 1000

Quote from: Kuroth on August 16, 2013, 09:26:56 AM

So is this a good Stock to get into right now?

If you like train wrecks.

Kuroth

full member

Activity: 196

Merit: 100

So is this a good Stock to get into right now?

Vbs

hero member

Activity: 504

Merit: 500

Quote from: ?? on ??

The chips are the most expensive part by far (Not actual CHIP Cost, but Markup Cost)

One would assume that they will probably allow DeaDTerra to source parts from them as well but more than likely won't be free.

You are correct it depends on the high markup cost, just don't expect a 400W cooling solution to come cheap either (try to find CPU or GPU coolers that are able to deliver 400W of heat dissipation and check their prices).

Vbs

hero member

Activity: 504

Merit: 500

Quote from: ?? on ??

I believe IceDrill has Miner Protection.

If they don't make 100% ROI within 3 months. November - December - January, then they will give them up to double or four times as many chips as originally purchased in order to make their ROI. It will only be chips though.

That combined with shareholders getting paid 0.0016/share before private investors should make this a fairly safe bet (If you trust DeaDTerra and HashFast)

It's going to be a long wait though!

Only the chips? That's like 1/3 to 1/4 of the total system cost. What about the rest?

Are they releasing the PCB specs? PCBs are +/- cheap to manufacture, but the cooling solution can be even pricier than the chip itself (waterblock? vapour chamber/heatpipe air cooler?) plus adequate power-supplies.

Vbs

hero member

Activity: 504

Merit: 500

Quote from: Ytterbium on August 16, 2013, 06:16:00 AM

(...)
Does HF's "Miner protection plan" apply to IceDrill? If so, that may help, since 10Mh/s could end up about 50Mh/s if the ROI is bad.

Good question. Even if it did, what's the time-frame on receiving those extra chips? Weeks? Months?

Ytterbium

full member

Activity: 238

Merit: 100

Quote from: Vbs on August 16, 2013, 06:07:39 AM

I'm still wrapping my head at why someone would want to pay 0.0016 for 10MH/s starting at best in November. It is a HUGE gamble for that price point, investors are taking a big risk.

At 0.0016 for 10MH/s, 1GH/s/W:

Mining starts in November: http://mining.thegenesisblock.com/a/6ac6bcc5b6 (Break Even Period: 78 days, Max Profit: 0.000739 (Sep-14) - 46.2%)
Mining starts in December: http://mining.thegenesisblock.com/a/779736272d (No break-even!)

Even when buying at 0.0014, the risk is very big:

Mining starts in November: http://mining.thegenesisblock.com/a/b0c610062c (Break Even Period: 62 days, Max Profit: 0.000939 (Sep-14) - 67.1%)
Mining starts in December: http://mining.thegenesisblock.com/a/029bdce47a (Break Even Period: 160 days, Max Profit: 0.000103 (Sep-14) - 7.37%)

This is assuming optimal conditions where: (1) The chips are able to get no worse than 1GH/s/W (imho this is still the biggest gamble of HF chips) and (2) the only operational expenses needed to be paid are the energy consumption, it's neck to neck. Factoring all the extra costs (cooling, maintenance, personnel, ...) and the "growth" cut, just makes it overboard as it hardly will be enough to compensate for the network growth rate expected during Q3 2013 and Q1 2014. Undecided

If HF's power efficiency is worse then 0.875Gh/j then they're boned, because the chips are already at 350W, and increasing that past 1Gh/j would mean pushing more then 400W through a single IC.

Does HF's "Miner protection plan" apply to IceDrill? If so, that may help, since 10Mh/s could end up about 50Mh/s if the ROI is bad.

Vbs

hero member

Activity: 504

Merit: 500

I'm still wrapping my head at why someone would want to pay 0.0016 for 10MH/s starting at best in November. It is a HUGE gamble for that price point, investors are taking a big risk.

At 0.0016 for 10MH/s, 1GH/s/W:

Mining starts in November: http://mining.thegenesisblock.com/a/6ac6bcc5b6 (Break Even Period: 78 days, Max Profit: 0.000739 (Sep-14) - 46.2%)
Mining starts in December: http://mining.thegenesisblock.com/a/779736272d (No break-even!)

Even when buying at 0.0014, the risk is very big:

Mining starts in November: http://mining.thegenesisblock.com/a/b0c610062c (Break Even Period: 62 days, Max Profit: 0.000939 (Sep-14) - 67.1%)
Mining starts in December: http://mining.thegenesisblock.com/a/029bdce47a (Break Even Period: 160 days, Max Profit: 0.000103 (Sep-14) - 7.37%)

This is assuming optimal conditions where: (1) The chips are able to get no worse than 1GH/s/W (imho this is still the biggest gamble of HF chips) and (2) the only operational expenses needed to be paid are the energy consumption, it's neck to neck. Factoring all the extra costs (cooling, maintenance, personnel, ...) and the "growth" cut, just makes it overboard as it hardly will be enough to compensate for the network growth rate expected during Q3 2013 and Q1 2014. Undecided

molecular

donator

Activity: 2772

Merit: 1019

Quote from: DeaDTerra on August 15, 2013, 01:20:48 PM

I am working on the changes of the first pages

Sorry for taking a while, I wanted to finalize the changes before fixing anything.
Any chances made has been marked red in the document below
https://docs.google.com/document/d/1_uecYI2qlr_I3vj0VVG0E5F9_x_V0mBebeYpAvNZnl0/edit

I tried to keep it short and simple, if you think a extensive explanation is needed just ask and I will try to explain it in more detail in the document.
//DeaDTerra

thank you!

Kushedout

legendary

Activity: 1123

Merit: 1000

SaluS - (SLS)

Quote from: ADgordo on August 15, 2013, 05:10:40 PM

Quote from: Kushedout on August 15, 2013, 04:59:53 PM

Nice, you found a block! Wink

When?

That's Primecoin btw (XPM)

ADgordo

member

Activity: 203

Merit: 10

The World’s First Blockchain Core

Quote from: Kushedout on August 15, 2013, 04:59:53 PM

Nice, you found a block! Wink

When?

Kushedout

legendary

Activity: 1123

Merit: 1000

SaluS - (SLS)

Nice, you found a block! Wink

DeaDTerra

donator

Activity: 1064

Merit: 1000

I am working on the changes of the first pages

Sorry for taking a while, I wanted to finalize the changes before fixing anything.
Any chances made has been marked red in the document below
https://docs.google.com/document/d/1_uecYI2qlr_I3vj0VVG0E5F9_x_V0mBebeYpAvNZnl0/edit

I tried to keep it short and simple, if you think a extensive explanation is needed just ask and I will try to explain it in more detail in the document.
//DeaDTerra

iCEBREAKER

legendary

Activity: 2156

Merit: 1072

Crypto is the separation of Power and State.

How about setting up passthroughs at MPEX and Havelock?

The weenies at BTCT are afraid ice.drill will be too competitive with their beloved "$2/GH" Chinese scam IPOs, so lets give the other exchanges a chance. Cool

evoorhees

legendary

Activity: 1008

Merit: 1023

Democracy is the original 51% attack

Quote from: Minor Miner on August 15, 2013, 09:56:53 AM

Are you going to change the first post of the thread to summarize the various changes you have made?

Yeah DT you should do this...

molecular

donator

Activity: 2772

Merit: 1019

Quote from: drawingthesun on August 15, 2013, 10:08:00 AM

Quote from: DeaDTerra on August 15, 2013, 07:48:47 AM

To make sure we keep the 10/Mhash, we are scaling up the percentage of ownership and in accordance with the deal change with Hashfast, we no longer need to sell all of batch 3. If batch 3 does not fully sell we will rebalance the private to public shares and decrease the private shares even more so that we can keep the 10/Mhash per share starting point.

This is good news, so if batch 3 does not sell our shares become slightly more valuable (Bigger amount of the profits?)

Is this correct?

Quote from: DT

The third batch is of 12,000,000 (12 million) shares and will be sold at the price of 0.0016 BTC per share. These shares have to be sold by the 4th of November (00:00:00 UTC, 4 November 2013) for the IPO to be deemed a success. At the opening of the mine, this equates to a price of 0.16 BTC per Gh.s.

Don't know what happens then the IPO is not a success. Also don't know why it's so hard to fix the info in the first 2 posts and on bitfunder.

drawingthesun

legendary

Activity: 1176

Merit: 1015

Quote from: DeaDTerra on August 15, 2013, 07:48:47 AM

To make sure we keep the 10/Mhash, we are scaling up the percentage of ownership and in accordance with the deal change with Hashfast, we no longer need to sell all of batch 3. If batch 3 does not fully sell we will rebalance the private to public shares and decrease the private shares even more so that we can keep the 10/Mhash per share starting point.

This is good news, so if batch 3 does not sell our shares become slightly more valuable (Bigger amount of the profits?)

Is this correct?

Minor Miner

legendary

Activity: 2478

Merit: 1020

Be A Digital Miner

Are you going to change the first post of the thread to summarize the various changes you have made?

Topic: [BitFunder] IceDrill.ASIC IPO (235 Thash Mining Operation powered by HashFast) - page 98. (Read 378660 times)