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.

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[kingcolex]

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.

Well it doesn't seem they are making their own miners yet, the shares aren't sold and they don't have the hashpower to do anything yet. A hardware grab on a massive scale will increase demand of hardware and lower supply making them pay more than current (as far as I am aware no one is sitting on massive mining stock) I don't see how it will be profitable.

[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