CipherMine LiteCoin IPO Shares Rise 480% in LTC Debut

[cryto4rig]

These 2-step IPOs are all just scams. Only people who get rich are the majority owners and sellers in the IPO.

+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.

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.

[weisoq]

These 2-step IPOs are all just scams. Only people who get rich are the majority owners and sellers in the IPO.

+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.

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.

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

[cryto4rig]

These 2-step IPOs are all just scams. Only people who get rich are the majority owners and sellers in the IPO.

+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.

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.

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

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.

[qiuness]

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

[weisoq]

These 2-step IPOs are all just scams. Only people who get rich are the majority owners and sellers in the IPO.

+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.

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.

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

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.

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.

[cryto4rig]

These 2-step IPOs are all just scams. Only people who get rich are the majority owners and sellers in the IPO.

+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.

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.

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

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.

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.

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.

[cryto4rig]

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 -

[Online24o0n]

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

[qiuness]

bought some shares..

[Online24o0n]

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