Atta boy, look at you!

You saw how well Bitcoinorama did from KnC and now want the same huh? I don't blame you.

Well, we know now where this is from.


Yep but they can ship 35 miners to this "separate IPO" by June 30th.

@Roadstress: Think about what I said again, you'll get it eventually and clearly your impartial voice means a lot here  

This exactly. I didn't say a thing when they were just selling (which they were doing a fine job of). But taking pre-orders for late July - August and to turn around and offer immediate hashrate to others because they can offer a more sizable sum? Does the community need another manufacturer who can dominate the network? Will people wait until they release their statement of "network protection" to realize that it's too late?


@Spondoolies: Ah, you're arrived. We've been waiting for you. You've been taking PR lessons from Hashfast_CL, haven't you?


We all know what comes next: extended delays on refund requests

I guess Spondoolies wasn't considering pre-order buyers when they said "all." Clearly this is kosher with them 

@dogie: Look here: https://bitcointalk.org/index.php?topic=647360.0 It's their front for an "IPO" 

This is true, it's only going to affect everyone else who bought and pre-ordered from them.

Right, makes sense when there's no risk on your part. 

Come on, keep posting 

They've offered long-term discounts to folks who paid AFTER you. Are you folks really falling for this again? The shamelessness of Spondoolies...

All your posts here speak otherwise but you can't help yourself now, huh? You really NEED that funding, even after taking all those pre-orders. What will you do when the miners find out about this? Things don't go well when companies double dip, you should know that by what has happened on these forums.

Like addicts and their fix, you'll come back here. It's not the last time, everyone can now see your true colors.

Added:

Added:

Looks like they sold their pre-orders as quick as possible and now promise to offer their hashrate to others before you.

Added:

What happened to having only one deal? I thought Cowboyminer was supposed to do all future supplies?

Boy oh boy, Spondoolies is now crowdsourcing funds from the community to be competitive in the next round and offering a 1 PH/s mine. Doesn't this sound similar to Bitfury or Hashfast? But it's ok because they have stated multiple times here (and here and here and here and here and here) they have no stake in this "IPO" but they aren't "endorsing" it either. That's a lot affirmation in a company that you "don't have a stake in." Right, well what does this have to do with you miners right? For all those who pre-ordered those Yukons, your slice is going to smaller now because Spondoolies decided to promise some hashrate to other forum posters by the end of June.

You've all seen how Avalon, KnC, Hashfast, Bitfury, and every other "company" that chooses to double dip with the community. This is only the start, remember this when you have another company that screws other the folks that helped them off the ground.


Waiting for the Spondoolies and their supporters to now flood this thread with hate. Come on Spondoolies, you're going to say you have no stake in the "IPO" and you're "not endorsing them" either here too.

Still like your pre-orders with them? That Yukon pricing doesn't look as good as it did now, huh?

You don't say...  

The fact that you continue to keep posting in this "IPO" thread by a newbie account, saying the deal is "legitimate" speaks that your stake in this is more than that. Do you really think that using the same method as Bitfury will fool lurkers again?

Again: You have a proven product that is competitive with the best miners out there. Either offer a part of future sales or go talk with VCs, selling mining bonds isn't going to cut it here.

But you're going to post again, saying 'your stake is nothing more than just the 35 SP10s for round one.' Just remember that each time you post, you invalidate your argument even more and showing everyone here that this is nothing more than a sham for funding. I guess the pre-orders for the SP30 Yukons aren't cutting it.

Exactly this, are people really going to fall for this again? This is no different than the original 100 TH/s offered by Bitfury or 235 TH/s by DeadTerra. A long extended (essentially interest-free) loan for Spondoolies. The IPO investors will only receive satoshis for bearing all the risk, while Spondoolies gets funding to flood the market even more and screwing the investors even more.


Spondoolies resorting to selling mining bonds to get more funding? And they were starting to be considered part of the gold standard too. Either offer a portion of potential future sales or go to VCs, this is nothing more than a sham for funding and offloading all the risk. For those "investing," only look to mining operations offered by Bitfury and Hashfast. In the case of Bitfury, they don't get to share in the millions that Bitfury made and in the case of Hashfast, bankruptcy.

Turn elsewhere unless you want to lose your coins.

Double check the Whois link (Registrant Organization) and check out this link:

https://bitcointalk.org/index.php?topic=80141.0

That is all.

Double check the Whois link (Registrant Organization) and check out this link:

https://bitcointalk.org/index.php?topic=80141.0

That is all.

Goat's real name: Jared Carty

Whois Info: http://whois.domaintools.com/bitcoin-bull.com

Go Wild.

Let's check out a few things, shall we?

100 TH/s IPO shares - 518271 @ .04 BTC/share = 20730.84 BTC collected

"IPO Business Plan" - Claims to start mining by July '13 -> Actually doesn't start mining until Sept '13 because of "delays"

Meanwhile, Buzzdave is pimping Bitfury sales hard in the Mining hardware subforum here on July 7th 2013.

As we all know, Bitfury dumps TH/s onto the network last fall.

Meanwhile, IPO investors are getting daily div payments of 0.00001512 since Sept '13. It might take awhile to hit 0.04, huh? That's about 7 years if the difficulty doesn't change (LOL!).

Yep, I'd be a happy investor too. I OBVIOUSLY WOULDN'T TAKE ANY LEGAL RECOURSE AGAINST THEM EITHER, RIGHT ANOTHERANONLOL?!  

Mining companies that take money but fail to produce something is one thing, but a mining company that takes money from you, becomes successful, and then SCREWS the investors that made it possible...?

Yep, I think they would still be happy and not say a word. I mean, what's 10-30% of the collected fines from "$250 million dollar company" right? It's all sunshine and rainbows for Bitfury...  

Well I don't care but the 100 TH/s IPO investors would. Their money was used on chip production and they even haven't received the mine that they were entitled to (as listed in the IPO contract, which was supposed to be mining by July 2013). And now Bitfury, who took their money, now receives $20 million and they're left with jack? I'm sure that will go over well on the "public US stock markets." VC's don't like any surprises...

Why would I send in a tip? That would be cheating  

But if you found out that someone scammed money from you and they were able to turn that money into $20 million for a "$250 million company" and you could prove it a court of law (they're a U.S. based company btw), would you really just walk away?

Are you so sure?

See here: http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370541972520#.U44_ImeKDmg

Bitfury used Picostocks/100 TH/s as a cover to get funding on their chip production. The difference here is while AM IPO investors got their money back, there are still LOTS of IPO investors screwed over from their 100 TH/s IPO. Will the VC's still stick around if the SEC starts digging and finds something rotten beneath the covers?

Heck, the SEC is even offering potential 10-30% reward of any reported scams over $1,000,000....

An excellent idea because what happening here is that you are lowering the numbers of profit margins (which is fair) but keeping the costs at a fixed amount (which is not always true). Production costs for wafers/chips, at a general understanding, decreases overtime on older, larger die sizes AND varies on the quantity produced. As quoted from a previous friedcat post, the going rate was "<$0.2/GH" at the time (Nov '13) and aimed for March '14 delivery. If the "costs" go down, the savings can be passed on the buyers via a lower rate and providing incentives for more purchases.

It has been stated that chip sales will continue until it was more profitable to mine and resources would be adjusted accordingly. Now, if the margins have dropped due to various mentioned reasons, wouldn't the mining start already and the sales stopped?

Because it's too much fun, I'll humor your scenario: Let's say that the production costs are fixed at the $0.2 a GH, as you say, and they decide to continue flooding the market with decreasing profit margins in the coming months. That then eliminates any potential franchisees with such a high network rate (wasted funds on immersion cooling )and any revenue from self-mining (no moar GH/s for me?  ). At this going rate, chip production can't continue and AM is bankrupt before Gen4 can even begin (about Aug/Sept '14 in this scenario). GG Bitfury & Spondoolies. But hey, you're right: it's not a pretty picture when you're using estimated Nov '13 costs with estimated April/May '14 profit margins. I would dump my shares too if friedcat was that short-sighted.

Now the question we are all wondering now is what has been the production costs of April & May and will be in June & July. We're not going to get an answer to that but it is safe to extrapolate here that if they can afford to have lower prices, it is due to the lower production cost. Otherwise friedcat = big dummy.

Don't get me wrong, I get what you're doing and I'm picking up the cheap shares as well 

  Thanks for confirming that.

But I'm sure you're quickly typing something else in retort but w/e. I'm done, I had fun doing this and hope you did too. Bye!