What is the reason for investing in Cointerra chips at this point if you can deploy Bitfury equipment in late September? Under $15 per Ghash in late September is more profitable than Cointerras $6/Ghash in early December. Also Bitfury chips have been proven to work already.
Wouldn't it be a better option to only deploy Bitfury equipment first, evaluate the situation later and use the reinvestment part to acquire more hashing power? I'm interested in this stock but would like to hear from the management the reasoning behind their choice to invest in Cointerra chips already at this stage.
You're seriously asking a 40 post account for details of what they'll do if you send them a few million USD? I can think of worse things to do with thousands of BTC (flushing them down the toilet, burning them, investing them with usagi) but none are MUCH worse - and likely investing with usagi is better as from past results you'd get 10-15% back after a year.
Seriously, if someone hasn't got a track record and hasn't got (provably) a load of cash then just ignore them (shockingly there's a reason why people without cash lack cash - and it doesn't make them good investments). When you look at potential investments you absolutely MUST look for reasons NOT to invest - not look for excuses to throw your cash away. These guys haven't even worked out how BTC-TC works yet - and are selling under a contract (which only exists in forum posts that they can edit) that isn't even the one listed on the exchange. And you're seriously asking for clarification on details of a theoretical contract in an irrelevant forum post?
Just destroy your coins and jump off a cliff - it'll achieve the same result faster without spamming the forum while you work out just how fucking stupid you are.
What is wrong with asking questions? I haven't invested anything in this yet. The issuer are saying that they are angel investors on Cointerra so they are not just anyone on the forum. Also what the fuck forum post count has to do with credibility?
Nothing wrong with asking questions - other than when there's already evidence to suggest that no matter what the answers are you shouldn't touch it. Amending contracts mid-IPO is one such piece of evidence - once that happens asking more questions is just a waste of time as there's no sensible scenario in which an investment could make sense.
It's like asking a convicted paedophile what they believe the age of consent should be. They may have a valid opinion but you don't need to hear it to decide not to hire them to babysit your kids.
I agree they should have planned the IPO better but the changes have been made to actually benefit shareholders. Instead of deploying 20% more hashing power in December they decided to deploy it in late September.
Also you can't be 100% sure that this is a scam.
Of course I can't be 100% sure it's a scam. In fact, depending on how you define 'scam' I don't necessarily think it's one at all (I believe it's designed to guarantee the issuers profit without any real likelihood of profit for investors - is that a scam?).
When someone asks for millions of dollars is it really too much to ask that they get a few paragraphs of text right? I mean they claim to have legal counsel - yet rather obviously their contract was never run past such (there's a totally unremarked-upon ambiguity over their fees for one thing).
I'm VERY lazy myself - and the contracts for my own securities have typoes in. But despite never even properly proof-reading them myself (let alone getting anyone else to) I've NEVER needed to edit one mid-IPO. Am I just lucky? Or are they just incompetent? I means the DMS contract is way more complicated than this - yet other than a few tiny changes it's all worked fine. And I just typed it in then submitted it - and I don't have any legal counsel or whatever (well I do, but not for that). It's trivial to get a few pages of text roughly right - so why would you even consider investing in anyone who:
a) was too incompetent to do so,
b) was too delusional to hire someone competent to do so?
Do bear in mind that right now they're pretending to be selling shares under some forum-post contract that has never been approved for the actual listing on BTC-TC (which requires a vote by shareholders lasting at least 7 days to change the contract). I just don't see what is conceivably so brilliant about this as to ignore such a major fuck-up.
