Australian Bitcoin Group releases new prospectus for IPO Jan2016

[Bitcoinpro]

https://www.cryptocoinsnews.com/bitcoin-group-releases-new-prospectus-delays-ipo/

they are releasing

100 Million shares at 20 cents each

thats the entire value of Bitcoin 3 years ago

no doubt they will grab an incredible amount

of mi ning share after the launch with this kind

of money.

[1714948439]

1714948439

[1714948439]

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[unamis76]

Not the first time these guys are linked here. Didn't really understand their goal the first time and suspected this would be something cloud mining-like. As far as I can see, this now looks even more like cloud mining. Not sure if they'll have much success, even if they're a legit company/service.

[franky1]

with a 4Thash costing $1800

$20mill = 44petahash

for instance slushpool has similar amount of peta (41) and has only 3% of hash power of the network..

which equates to 25btc only 4-5 times per day
=$45,000 a day (before figuring in electric and staffing/maintenance)
EG $25k electric if placing miners in china, $100k if miners are in australia

so lets presume its china

thats only $20,000 a day... call it $19k to include leasing the building and labour
thats only $1.7mill for 3 months.. which is where the equipment becomes obsolete and new rigs need to be purchased..
remember the rigs cost $20mill...

what the australians dont know is that while they are buying rigs at retail ($1800each) the other pools are the ones MANUFACTURING the rigs at 5-7 times cheaper.. infact its these manufacturers that are literally getting 4-6 miners for free just from the proceeds of their sales to others.

which no one can compete against... (unless they are rig manufacturers themselves)

so goodluck australia.. i truly hope you are manufacturing your own rigs instead of buying them.. or you have no chance of ROI