[BitFunder] IceDrill.ASIC IPO (235 Thash Mining Operation powered by HashFast)

[Hoofprint]

The result of those conversations will become clear in the coming days. Apologies if the message is cryptic, the future outcome of our efforts there is as of yet uncertain, but we seem to be making progress.

Are you going to buy from HF's garage sale? Or invest into them to save your debtor? I don't see many other possibilities.

I guess http://texasbiodefense.com/vanrooyen.pdf is a "nope."

Added investment under a Hashfast+DigiMex joint-venture was proposed by HF, considered and denied. The second option (of a liquidation-sale supporting such a JV) was offered, and denied, even though the fully-deployed $/Gh price came down to as low as $0.78/Gh.

I took it upon myself to create a third possibility: that of banding together the creditors to form an entity under which these remaining assets may possibly be leveraged to make everyone whole. Appointing a trustee to oversee the unwinding of the Hashfast entity (the hearing tomorrow) should give vision into what assets are available to such an entity, if it should ever come into existence. This is a work in progress, but thus far everyone I have spoken to seem to think this is the most prudent way forward.

Here i was thinking, the most prudent way forward would be to start paying dividends to shareholders.
least people start calling for your head on a stick, along with legal action just like scamfast.

So far all we have seen is the similarity between you and castro like,
you both had an idea (farm/Chip)
you both took money from investors
you both promised big and lied about stats (ipo size/ chip specs)
you both started ignoring the public's questions soon as it got rough.
you both spent investors money on overpriced crap (1st class flights/hotel stays 15k last audit)
you both further screwing investors by holding btc hostage/ not delivering units.

have i missed anything ?

How much of our money are you wasting on legal fees
since as you clearly stated in that pdf the chips will be useless in 90 days,
can we infer the reason we cant trade shares without that stupid kyc form is to stop people jumping ship by the droves

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[pmorici]

I took it upon myself to create a third possibility: that of banding together the creditors to form an entity under which these remaining assets may possibly be leveraged to make everyone whole. Appointing a trustee to oversee the unwinding of the Hashfast entity (the hearing tomorrow) should give vision into what assets are available to such an entity, if it should ever come into existence. This is a work in progress, but thus far everyone I have spoken to seem to think this is the most prudent way forward.

Amen, no way I would trust any of the current Hashfast management it's long past time for them to go.

[pedrog]

So, anything from the hearing?

[fredthedog]

So, anything from the hearing?

Apparently the court posted audio of the entire hearing. This is public record:

https://dl.dropboxusercontent.com/u/7804267/hashfast%20hearing%20federal%20bankruptcy%205.23.2014.mp3

As I understand it, Decastro is out as CEO. You can hear something to this effect in the comments between the judge and Hashfast's lawyer.



And the order on what happened today:

Hearing held and continued. The arbitration order issued on 5/8/14 will remain in effect until further order of the court. The Court orally orders that the debtor is not to engage in transactions outside the normal course of business. A continued hearing will be held on 5/28/14 at 9:30 a.m. (related document(s): [8] Motion to Appoint Trustee filed by Liquidbits Corp.) Hearing scheduled for 05/28/2014 at 09:30 AM at San Francisco Courtroom 22 - Montali.



1NuxSAjgTX9yKPiRqjCm68TVPfFZ4mx9R6

[pedrog]

So, anything from the hearing?

Apparently the court posted audio of the entire hearing. This is public record:

https://dl.dropboxusercontent.com/u/7804267/hashfast%20hearing%20federal%20bankruptcy%205.23.2014.mp3

As I understand it, Decastro is out as CEO. You can hear something to this effect in the comments between the judge and Hashfast's lawyer.



And the order on what happened today:

Hearing held and continued. The arbitration order issued on 5/8/14 will remain in effect until further order of the court. The Court orally orders that the debtor is not to engage in transactions outside the normal course of business. A continued hearing will be held on 5/28/14 at 9:30 a.m. (related document(s): [8] Motion to Appoint Trustee filed by Liquidbits Corp.) Hearing scheduled for 05/28/2014 at 09:30 AM at San Francisco Courtroom 22 - Montali.



1NuxSAjgTX9yKPiRqjCm68TVPfFZ4mx9R6

Thanks for sharing.

[zumzero]

So, anything from the hearing?

Apparently the court posted audio of the entire hearing. This is public record:

https://dl.dropboxusercontent.com/u/7804267/hashfast%20hearing%20federal%20bankruptcy%205.23.2014.mp3

As I understand it, Decastro is out as CEO. You can hear something to this effect in the comments between the judge and Hashfast's lawyer.



And the order on what happened today:

Hearing held and continued. The arbitration order issued on 5/8/14 will remain in effect until further order of the court. The Court orally orders that the debtor is not to engage in transactions outside the normal course of business. A continued hearing will be held on 5/28/14 at 9:30 a.m. (related document(s): [8] Motion to Appoint Trustee filed by Liquidbits Corp.) Hearing scheduled for 05/28/2014 at 09:30 AM at San Francisco Courtroom 22 - Montali.



1NuxSAjgTX9yKPiRqjCm68TVPfFZ4mx9R6

Short of the judge allowing an in progress transaction completing. 

[Yogafan00000]

I registered on Cryptomex last week using the same email and wallet address I used on the "Bitcoin Address Ownership Verification for Bitfunder Share transfer" website.

My current holding of IceDrill still says 0.000000.

When will I see my "Units" appear on cryptomex?
When will I be paid my dividends owed?
When will I know this isn't all just a colossal waste of time?

Much thanks to anyone who can provide clarity on this situation.

[Hoofprint]

I registered on Cryptomex last week using the same email and wallet address I used on the "Bitcoin Address Ownership Verification for Bitfunder Share transfer" website.

My current holding of IceDrill still says 0.000000.

When will I see my "Units" appear on cryptomex?
When will I be paid my dividends owed?
When will I know this isn't all just a colossal waste of time?

Much thanks to anyone who can provide clarity on this situation.

since will and terra are doing the full scamfast experience with the silence.

im rather curious to see if anyone brought enough shares in this scam venture to think about suing the crap outta licedrill

[pmorici]

since will and terra are doing the full scamfast experience with the silence.

im rather curious to see if anyone brought enough shares in this scam venture to think about suing the crap outta licedrill

With as badly as this venture got screwed by Hashfast's late delivery and flaky product is there even any profit yet to pay dividends with?

[Hoofprint]

since will and terra are doing the full scamfast experience with the silence.

im rather curious to see if anyone brought enough shares in this scam venture to think about suing the crap outta licedrill

With as badly as this venture got screwed by Hashfast's late delivery and flaky product is there even any profit yet to pay dividends with?

so far the mine has gotten over 600 btc.
Just us shareholders dont get a cent,

Between the btc being held hostage by will and terra and the amount they keep spending on flights,hotels,legal fees im sure we wont see any of it

[Mythoranium]

1. Rewards payments (previously known as dividends) based on PU assignments on CryptoMex should begin late this week, if not early next week. Please understand that you don't have to submit KYC information to be eligible for reward payouts.

So, "late this week" has passed, as has "early next week". Where are the "Rewards payments (previously known as dividends)"?


Another question, which has been asked multiple times, but hasn't been answered — how are the PUs differentiated between public and private? Remember that, as per original agreement, private shares are not eligible to receive any dividends until public investors have received at least 0.0016 BTC per share.

[Wayne_Chang]

I strongly request Icedrill to buy back the shares from shareholders who want to quit this project. Pay dividend since the beginning till now and share buy back fee to the address shareholders registered in Bitfunder.

[DiamondCardz]

I've already left negative trust. This is getting ridiculous now and in my opinion this should be classified as a scam until they pull their pants up and actually start paying dividends. Good luck getting IceDrill to buy back shares.

[will]

Hi All

The latest batch of PU assignments were done yesterday. Many of you were struggling with account lockouts and this issue seems to be sorted now.

The backend work for the 1st reward assignment is almost complete and we'll announce and execute it sometime in the next 24h. Remember, if you don't want to go through the KYC process you won't be forced into it. If this is the case, please just treat CryptoMex.io as a datastore where you can manage your reward withdrawals.

Will

[Hoofprint]

Hi All

The latest batch of PU assignments were done yesterday. Many of you were struggling with account lockouts and this issue seems to be sorted now.

The backend work for the 1st reward assignment is almost complete and we'll announce and execute it sometime in the next 24h. Remember, if you don't want to go through the KYC process you won't be forced into it. If this is the case, please just treat CryptoMex.io as a datastore where you can manage your reward withdrawals.

Will

unless you want to buy and sell shares then you need that stupid kyc form.

[Iffy]

Hi All

The latest batch of PU assignments were done yesterday. Many of you were struggling with account lockouts and this issue seems to be sorted now.

The backend work for the 1st reward assignment is almost complete and we'll announce and execute it sometime in the next 24h. Remember, if you don't want to go through the KYC process you won't be forced into it. If this is the case, please just treat CryptoMex.io as a datastore where you can manage your reward withdrawals.

Will

unless you want to buy and sell shares then you need that stupid kyc form.

Will, please give details required for getting IceDrill to buy back my shares as you are contractually obliged to do. I have no interest in crypromex or any other further time wasting you may come up with. I have signed my BTC address as previously requested to recieve my funds, that was enough loop holes for me already without the current round of charades.

[_mr_e]

Hi All

The latest batch of PU assignments were done yesterday. Many of you were struggling with account lockouts and this issue seems to be sorted now.

The backend work for the 1st reward assignment is almost complete and we'll announce and execute it sometime in the next 24h. Remember, if you don't want to go through the KYC process you won't be forced into it. If this is the case, please just treat CryptoMex.io as a datastore where you can manage your reward withdrawals.

Will

Well here we are 26 hours later... I don't see any profit.

[will]

Hi

Update from my side.

Spent a good part of the day ensuring the technical & security aspects of the reward payment is correctly in place @ CryptoMex. That is:
1. Assigning rewards based on PU ownership.
2. Reserving rewards for unclaimed PUs.
3. Making the above two processes deterministic/transactional such that when later signups (PU claims) come on board their rewards are assigned retroactively. This process obviously has to be maintained until 1 May 2015 as per the termsheet.

This, along with the internal checks & balances will probably form the basis for the proof-of-funds/value for CryptoMex which I'm keen to explore.

Someone has highlighted that the 0.0016 BTC/PU reward commitment (before private shares take value/receive rewards) was not included on the term sheet and requires rectification. I agree with this, as it stays true to the original contract.

The stringent KYC docs/requirements are under review for marking optional information as such. I'll post an update on that as soon as I have it.

As it stands we'll probably execute on the first reward payment tomorrow. Apologies for yet another day delay, the Hashfast legal track is heating up and required much of my attention today.

Will

[Dexter770221]

I wonder what excuse we will hear tomorrow? Santa Clause didn't make it?

[ryepdx]

Hey Will, I just caved and signed up for CryptoMex.io. Not planning on doing the KYC nonsense, though, as I don't trust this random website with all the data you're asking me to hand over. Can I get my shares now? I don't see them on CryptoMex.io or IceDrill.io.