[PicoStocks] 100TH/s bitcoin mine [100th]

[MPOE-PR]

looks like they sold 518271 shares. IPO is now closed.

Quoted for the lol of it. Certainly the most entertaining scam of the moment.

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[Gabit]

looks like they sold 518271 shares. IPO is now closed.

Quoted for the lol of it. Certainly the most entertaining scam of the moment.

Well lets examine:

BitFury.org:
http://who.is/whois/bitfury.org
** Organization: Domains By Proxy, LLC** Sure raises confidence.


http://who.is/whois/megabigpower.com
** Registered Jan 18 2013. Over a month old, wowza, that old?**
** By Buzz "smells like a scam" Dave, as a private person **
** claims holding a 2500 sq ft warehouse, where did the money came from? I still lack over 100 BTC :/ **


This is another scam by ScamDave Inc. Nothing more.

[dust]

http://who.is/whois/megabigpower.com
** Registered Jan 18 2013. Over a month old, wowza, that old?**
** By Buzz "smells like a scam" Dave, as a private person **
** claims holding a 2500 sq ft warehouse, where did the money came from? I still lack over 100 BTC :/ **


This is another scam by ScamDave Inc. Nothing more.

Dave's location is listed as Everett, WA, and it is reasonable to assume the warehouse is nearby (WA has cheap power).

Dave: I live in Seattle and would gladly drive up to take a look at your facility and post a report on these forums.  I am also a potential customer if the business is real and the rates are competitive.

[iCEBREAKER]

Price is down 42% today.

Well now.  That sure did implode in a timely manner.

Is there any way to short this thing like a Chinese fraud stock? 

[cedivad]

I might be wrong but 2c$/kWh is way too cheap to be real.

[mrb]

I might be wrong but 2c$/kWh is way too cheap to be real.

It is real. That is the rate in Douglas County in Washington State. I moved my GPU farm over there back in 2011. My last bill was $497 for 21667 kWh (effective rate = $0.023/kWh). You can check their rates here: http://www.douglaspud.org/Service/2013RatesJanuary12013.aspx The reason the rates are so low is because electricity in Washington State is mostly under the control of Public Utility Districts, which are (generally) non-profits and sell electricity at-cost. And most of the power stations are low-key hydro installations, so quite inexpensive.

[iCEBREAKER]

 56% crash in 24hrs, yikes!

Let's ride it all the way down to zero!

[Gabit]

56% crash in 24hrs, yikes!

Let's ride it all the way down to zero!

Hopefully no real people actually invested in this crap pile.

[cedivad]

56% crash in 24hrs, yikes!

Let's ride it all the way down to zero!

Hopefully no real people actually invested in this crap pile.

The only thing to make sense was if someone with insider knowledge invested enough to cover the majority of the cost. Now, these insiders selling at half the price dosent make any sense. Isn't this an amazing investment?

I did not know about that amazings eletricity rates, my first tough was: "if it's real, google must have a datacenter there". And yes, the have one. Amazing. How do you have your gpu mining farm hosted here, may I ask? I hadn't found any private datacenter with a fast search on datacentermap.

[punin]

56% crash in 24hrs, yikes!

Let's ride it all the way down to zero!

Where do you get your numbers dude? I'm reading 0.047 bid and 0.2 ask prices compared to the initial IPO price of 0.04? Market cap stands at 37057.3875 BTC, which is nearly double the target valuation of 500kUSD.

[mrb]

I did not know about that amazings eletricity rates, my first tough was: "if it's real, google must have a datacenter there". And yes, the have one. Amazing. How do you have your gpu mining farm hosted here, may I ask? I hadn't found any private datacenter with a fast search on datacentermap.

Actually Google does not have one in Douglas County, WA. You are probably confusing with the one they have in Douglas County, GA. However, Douglas County, WA is the location of multiple other datacenters: Sabey's Intergate.columbia (where colo is possible), VMware, and T-Mobile. And Google does have a datacenter 130 miles south in The Dalles, where power is still relatively inexpensive at $0.05/kWh from the local provider Northern Wasco PUD.

There is more than just the price of electricity that determines where to host a datacenter: local job market, distance to large cities, etc. I am sure Google had valid reasons for deciding against hosting in Douglas County.

Personally, I just rented office space for my GPU farm. Colocation always adds too much overhead costs over the raw cost of electricity. Some colos may say they "sell electricity at cost", but they always force you to pay additional fixed monthly recurring charges (eg. a fixed price per rack cabinet), so at the bottom line, you are paying a lot more than "at-cost" electricity.

[cedivad]

Yes, colocation is expensive, but always less expensive than what i pay for electricity in my country. I will host a few avalon at a cheap datacenter in los angeles for around 0.2$/kWh (bandwidth and space included), i would have paid at least 0.4$kWh if i did it myself at my home.
Thor datacenter in iceland was another option, but they wanted 800€/rack over their 0.1€/kWh rate.

Unfortunately not being on the american soil i really cannot rent office space and simply let my mining gear there, but i think that we will soon see a lot of florid business of mining/hosting farms where the electricity rate is really cheap.

In the meantime, my 0.2$/kWh will do

Btw, going from 0.2$ to 0.02 is like having an avalon unit more efficient than the BFL one, amazing.

[buzzdave]

http://who.is/whois/megabigpower.com
** Registered Jan 18 2013. Over a month old, wowza, that old?**
** By Buzz "smells like a scam" Dave, as a private person **
** claims holding a 2500 sq ft warehouse, where did the money came from? I still lack over 100 BTC :/ **


This is another scam by ScamDave Inc. Nothing more.

Dave's location is listed as Everett, WA, and it is reasonable to assume the warehouse is nearby (WA has cheap power).

Dave: I live in Seattle and would gladly drive up to take a look at your facility and post a report on these forums.  I am also a potential customer if the business is real and the rates are competitive.

Its not in Everett, but it is in Washington State.  The megabigpower.com data center is getting built out for 100TH mine as its anchor customer.  There's another thread for megabigpower.com if you trolls want to go there.  I'm not even taking other customers yet - if you go to my site I'm just collecting interest at this time.  I'll have my hands full with 100TH. 

As I get closer to taking 100TH online in June/July, I'll document it.  In person visits will be very limited as I want to keep security at a maximum.

Dust if you want to grab coffee, I'd be up for it anytime - just PM me and we'll set it up.  Always good to meet local miners...

[Gabit]

There's another thread for megabigpower.com if you trolls want to go there. 

Your scam victims are trolls now? How about paying back what you stole? If you want to clear your "name", I suggest you start marching to a nearest police HQ, and start explaining this situation. So we can get Tom (aka you?) to answer for his shortcomings.

Dust if you want to grab coffee, I'd be up for it anytime - just PM me and we'll set it up.  Always good to meet local miners...

Just drop the bull and setup a real company, with real people, with real contact information, comply with real regulations, use a real office, and then we can wonder where to go from there. Short of that = another scam.

[iCEBREAKER]

Where do you get your numbers dude?

They're not my numbers man.  I was reporting what I saw at PicoStocks.com's page "100th : asset summary."

http://picostocks.com/stocks/view/19

It's not dead yet; it's getting better!   

[MrTeal]

Where do you get your numbers dude?

They're not my numbers man.  I was reporting what I saw at PicoStocks.com's page "100th : asset summary."

http://picostocks.com/stocks/view/19

It's not dead yet; it's getting better!   

Transactions in last 30 days
Shares:   524346
Volume:   20999.67164043
Change:   0.110000 (275.00%)
High:   0.10000000
Low:   0.04000000
Mean:   0.04946530

The IPO price was 0.04, and that's the 30 day low. It's hard to say if anyone is on the exchange other than Tytus, but I don't see any drop in value so far.

[kaerf]

Where do you get your numbers dude?

They're not my numbers man.  I was reporting what I saw at PicoStocks.com's page "100th : asset summary."

http://picostocks.com/stocks/view/19

It's not dead yet; it's getting better!   

Transactions in last 30 days
Shares:   524346
Volume:   20999.67164043
Change:   0.110000 (275.00%)
High:   0.10000000
Low:   0.04000000
Mean:   0.04946530

The IPO price was 0.04, and that's the 30 day low. It's hard to say if anyone is on the exchange other than Tytus, but I don't see any drop in value so far.

The high has actually reached 0.15. Almost quadruple the IPO price.

[MPOE-PR]

As I get closer to taking 100TH online in June/July, I'll document it.  In person visits will be very limited as I want to keep security at a maximum.

Yeah, you've done that once before, documenting a scam with in person visits being very limited to keep the security of being able to push further scams in the future.

Except it doesn't work. Buzz off.

[cedivad]

As I get closer to taking 100TH online in June/July, I'll document it.  In person visits will be very limited as I want to keep security at a maximum.

Yeah, you've done that once before, documenting a scam with in person visits being very limited to keep the security of being able to push further scams in the future.

Except it doesn't work. Buzz off.

I missed it. What are you talking about?

[Gabit]

I missed it. What are you talking about?

I have to wonder how do you justify your selves to associate with know thieves? Even giving them money. It's well documented that Dave IS associating with Tom, with all probability he is Tom. At least he IS actively PROTECTING Tom, if he wouldn't be, this case would be in the hands of the justice system. And HE would lead the charge in behalf of the customers. He isn't even willing to clear his own name.

Then take to an account that they at least falsify picostock user ID's to make it look more popular than it is. Why wouldn't they falsify that "stock" price? First user starts with id 19, next is somewhere over 26 and so on. Check it out your self: http://picostocks.com/users/view/1 <- change that number to check if valid user id.