Topic: CipherMine LiteCoin IPO Shares Rise 480% in LTC Debut (Read 1367 times)

Over 2,000 shares were bought just in the last few hours 

bought some shares..

Hmmm, sounds exciting, I just love hearing the words "more powerful mining rigs"  lol

BitFury funding round

I am about to offer an additional 7,000 shares onto the market at LTC 4.00 / share as discussed in the last motion. Please see the updated business plan v2.01 at docs.ciphermine.com.

The funds raised from this round will be used to purchase between 5 and 6 EUR 7,500 400 GH/s BitFury SHA256 mining rigs which have recently become available for pre-order. We intend to go for the October delivery date (half the price). The BitFury ASICs are four times as productive in terms of capital costs and power compared with Avalon ASICs. Further, Giles believes that at 55nm it is unlikely anyone will come up with something better for a while.

The remainder of the funds will go towards another ~5 quintuple-GPU scrypt mining rigs (~25 Sapphire 7950 Vapour-X's with supporting hardware).

The price of LTC 4.0 / share is based on two factors:

1) With BitFuries incorporated into the plan, even with the reduced BTC price of EUR 60 and our new model which assumes difficulty will pass 100 million within a year, our forecast profits are now around EUR 880,000, 50% of which will be released as dividends. The 4.0 LTC / share price represents a P/E ratio of roughly 2, which is still lower than ASICminer's.

2) There has been considerable demand for shares recently and prople have been paying well in excess of 4 LTC/share. This was based on our old model with much lower forecasted yield. Thus we further believe this is a fair price.

Finally, following the dissatisfaction expressed by some shareholders over the manner in which this motion to issue more share capital was approved (I dominated the votes, basically) I have removed my right to vote "yes" on any motion which will result in dilution of existing shareholders until the end of the year. Further, we believe we must now enter a period of consolidation and focus on getting all the mining hardware up and running before considering further funding rounds.

 From the company -

They follow along the same principles, no its not exactly the same though.  of course there is tell tale signs and things to look for when stocks go up or down, but yes is mainly a crapshoot. But i have made a lot of money in the market, luck... maybe, who knows, again the market is a wild one.

This is not the stockmarket, this is closer to binary risk in a virtual world. 'Those of us who have traded, or made a living of it' wouldn't make claims about knowing what makes them go and down or the rest of what you say, they'd admit this is mostly wet finger in the air stuff and judging mass psychology - for the enterprise as much as any investor.

i wonder if they will still put the shares on sale today

Yea... well the stock market is a wild and tricky one... most of the people on this forum have never traded on the stock market before. But because they are into bitcoins and alts, and buy some of these shares sometimes, they think they are experts.
 But for those of us who have traded, or made a living of it, we know what makes them go up and down, what to look for, when to get in and out, and company research.

I didn't say it was a scam, I was agreeing with the IPO point.

People said bitcoin was a scam. We will see, its all about supply and demand, what are people willing to pay. Ive been in business many years, and after researching the hell out of this ciphermine company, looks better than any other mining company ive seen.

+1 Far too much financier talk and marketing going on there for what is ultimately buying some existing cards in bulk and plugging them in. It's about leveraging off forecasts and projections, an artform they appear too astute at for me, but good luck to them.

Ah here it is  http://www.guardian.co.uk/technology/blog/2013/jul/01/bitcoin-virtual-fortune-crypto-currency

The only thing I know after watching it is people are buying it up like crazy, and from what I hear the ciphermine company is the one to go with. Google search it to hear about what their doing I guess.

Since there is no announcement...how on earth is one notified??

Also i`m guessing a sell order of 7000 shares will appear on the exchange correct? (i`ve not been present for the first 20k shares)
And least maybe you know... will the price be the highest bid on the site or something REALISTIC?

Wow nice 

Damn, only 3 left under 5 LTC now

Of course, I mean look at the sell orders, wouldnt be surprised to see 10ltc per share pretty soon.

The more I think about it, the more I expect they will issue the new shares at the highest price they think they can sell them at.  Given that everyone seems to be holding shares now, we may be looking at a price of around 4.5 or 5ltc per share.  This is only speculation of course.

I was going to buy some, last night I was checking on it at around 3.5, now its 4.2, and the sell orders are almost non existent, if you want more than a few 5 is the price. People are hoarding their shares, gonna try and get as many as possible now.

i mean it would suck if they would take the highest bid and make that the price...