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

[will]

Will, if price of bitcoins go up what will you do with any extra bitcoins after the TH requirement has been met?

We locked in a spot price of $100/BTC for the installments on 12 and 19 Aug with Hashfast. What we do with any value left over as a result of an increased spot price before the final installment (30 Sept) depends largely on that value at the time. There are several options we're considering for leveraging an increased future valuation, all of which obviously go directly toward the benefit of shareholders. All viable suggestions are welcomed and will be seriously considered.

[will]

Seems like its going to be a tight race on breaking even with new ASICs like Cointerra coming onboard.  Timing is now critical.  If you guys get the units end of Oct, and overclock the HashFast units to 500GH then IceDrill will more likely make a ROI.

The HashFast units are easily overclockable (To probably 550-600GH I imagine with the correct cooling)

The latest publically shareable information from Hashfast on the topic of overclocking can be found here:

Metal migration is a well understood phenomenon. We have followed all the fab's rulesets for electromigration so that the current levels we're going to see will not be a problem (even current distribution, and thicker metal layers). Currently in the simulator for EM our chip passes the test for a 5 year lifetime, but fails the 11 year test - and that is running somewhat overclocked, at about 540GH/s.

[BitCoinzzz]

They will. def make an ROI given that insane large number of hashing power. ROI and timing become very important when you have very little hashing power, as the network keeps growing you pretty much become useless, this process is much slower with huge amounts of power.

Now to my question, is IceDrill legit in investing in? I read a good majority of the posts, some people were talking about getting screwed and wish they never bought these shares? Also, is Bitfunder safe, I read they don't keep a good account of actual owned shares from people?

thanks

[BitCoinzzz]

They will. def make an ROI given that insane large number of hashing power. ROI and timing become very important when you have very little hashing power, as the network keeps growing you pretty much become useless, this process is much slower with huge amounts of power.

Now to my question, is IceDrill legit in investing in? I read a good majority of the posts, some people were talking about getting screwed and wish they never bought these shares? Also, is Bitfunder safe, I read they don't keep a good account of actual owned shares from people?

thanks

BitFunder has a public asset list https://bitfunder.com/assetlist (Funny they are in maitenance mode right now) But normally all shares are listed here for the world to see.

HashFast is a legitimate company and have said they are doing business with IceDrill, DeaDTerra has done these types of things in the past. Their IPO seemed pretty shady at first with wording and what seemed like changing of terms as they saw fit, but in the end they made some changes and allowed people to opt out with a share buyback which was the correct thing to do and brought integrity/trust back to the IPO.

How good are they with updating and keeping good records on the assetlist? I always hear people saying they want a security on btct

[Transisto]

They will. def make an ROI given that insane large number of hashing power. ROI and timing become very important when you have very little hashing power, as the network keeps growing you pretty much become useless, this process is much slower with huge amounts of power.

Now to my question, is IceDrill legit in investing in? I read a good majority of the posts, some people were talking about getting screwed and wish they never bought these shares? Also, is Bitfunder safe, I read they don't keep a good account of actual owned shares from people?

thanks

BitFunder has a public asset list https://bitfunder.com/assetlist (Funny they are in maitenance mode right now) But normally all shares are listed here for the world to see.

HashFast is a legitimate company and have said they are doing business with IceDrill, DeaDTerra has done these types of things in the past. Their IPO seemed pretty shady at first with wording and what seemed like changing of terms as they saw fit, but in the end they made some changes and allowed people to opt out with a share buyback which was the correct thing to do and brought integrity/trust back to the IPO.

How good are they with updating and keeping good records on the assetlist? I always hear people saying they want a security on btct

I trust BitFunder as much*, if not much more, than BTCT and with the JSON asset list it's possible for everyone to view every share ownership at every moment.

The IPO seemed shady for the same reason that telling the truth about ASICMINER two week ago would earn me 12 down-votes on reddit.

[DeathAndTaxes]

Buying IceDrill shares one does not have to pay electricity, keep the equipment running, if it brokes have to replace it, and so on...
It still seems a good deal to me...

Of those only not having to keep the equipment running is correct.  Any electricity costs come out of the gross revenue.  It is no different then mining your own coins and putting aside enough to pay the power bill.  Any damaged equipment has to be replaced from gross revenue and reducing the revenue until replaced, once again the same as hardware you own.

I think IceDrill is a good project but come on, if those facts came as a shock to you, maybe you shouldn't be an investor, generally speaking.

[Transisto]

Buying IceDrill shares one does not have to pay electricity, keep the equipment running, if it brokes have to replace it, and so on...
It still seems a good deal to me...

Of those only not having to keep the equipment running is correct.  Any electricity costs come out of the gross revenue.  It is no different then mining your own coins and putting aside enough to pay the power bill.  Any damaged equipment has to be replaced from gross revenue and reducing the revenue until replaced, once again the same as hardware you own.

I think IceDrill is a good project but come on, if those facts came as a shock to you, maybe you shouldn't be an investor, generally speaking.

I think he is somewhat right in the sense that :

• Hosting the equipment safely,
• Providing sufficient electrical load,
• Finding best electricity cost
• Keeping it running
• Dealing with the noise
• Cooling the equipment
• Replacing equipment,
• Making sure the company is liable to ship on time
• Negociating equipment price
• Doing the best decision on how to spend that 25% reinvestment.

All of those thing benefit greatly from an economy of scale.

I find the management overhead cost of IceDrill to be well priced. Sufficient to handle the worst cases, making this investment as safe and potentially profitable as the market conditions allow.

[pedrog]

Buying IceDrill shares one does not have to pay electricity, keep the equipment running, if it brokes have to replace it, and so on...
It still seems a good deal to me...

Of those only not having to keep the equipment running is correct.  Any electricity costs come out of the gross revenue.  It is no different then mining your own coins and putting aside enough to pay the power bill.  Any damaged equipment has to be replaced from gross revenue and reducing the revenue until replaced, once again the same as hardware you own.

I think IceDrill is a good project but come on, if those facts came as a shock to you, maybe you shouldn't be an investor, generally speaking.

True, but it's not me the person who has to do that, plus in my country electricity is very expensive, pretty sure they have a better deal.

And if I have a mining rig and it broke, in the time between sending it to the manufacture and receiving a new one I'll earn zero, this scenario does not apply here.

Still think it's good deal, and it does no invalidate mining at home...

[Gyom]

I think he is somewhat right in the sense that :

• Hosting the equipment safely,
• Providing sufficient electrical load,
• Finding best electricity cost
• Keeping it running
• Dealing with the noise
• Cooling the equipment
• Replacing equipment,
• Making sure the company is liable to ship on time
• Negociating equipment price
• Doing the best decision on how to spend that 25% reinvestment.

All of those thing benefit greatly from an economy of scale.

I find the management overhead cost of IceDrill to be well priced. Sufficient to handle the worst cases, making this investment as safe and potentially profitable as the market conditions allow.

Agreed. IceDrill is in a good spot right now. My own projections show an interesting return on BTC invested if there is no delay in the deployment schedule, and a comfortable margin of maneuver if there is. I'm fully confident in DeadTerra, will and the others involved, as well as in HashFast and Uniquify. Theses guys are pros.

[HashFast]

Hi Everyone,

HashFast’s Golden Nonce GN ASIC successfully taped-out yesterday, Wednesday the 28th, and has been released for 28nm fabrication to a well-known, leading-edge foundry. More details will follow in next week’s joint press release.

https://hashfast.com/tapeout/

 - HashFast Team

[iCEBREAKER]

Hi Everyone,

HashFast’s Golden Nonce GN ASIC successfully taped-out yesterday, Wednesday the 28th, and has been released for 28nm fabrication to a well-known, leading-edge foundry. More details will follow in next week’s joint press release.

https://hashfast.com/tapeout/

 - HashFast Team

[will]

Hi Everyone,

HashFast’s Golden Nonce GN ASIC successfully taped-out yesterday, Wednesday the 28th, and has been released for 28nm fabrication to a well-known, leading-edge foundry. More details will follow in next week’s joint press release.

https://hashfast.com/tapeout/

 - HashFast Team

Great news, thanks for posting John

[crumbs]

...

Champagne corked, flutes filled with ginger ale?

[VolanicEruptor]

I find it weird that icebreaker and crumbs have been accused of being the same person, and then for this theory to be further solidified by them jerking each other off with the champaign post.  Puppet is an understatement.  Icedrill is a hoax.

[iCEBREAKER]

...

Champagne corked, flutes filled with ginger ale?

The unopened bottle is for the next round!   

-iCEBUCKET

[JohnyBigs]

I find it weird that icebreaker and crumbs have been accused of being the same person, and then for this theory to be further solidified by them jerking each other off with the champaign post.  Puppet is an understatement.  Icedrill is a hoax.

True? Not true? Why did you buy shares?

[VolanicEruptor]

I find it weird that icebreaker and crumbs have been accused of being the same person, and then for this theory to be further solidified by them jerking each other off with the champaign post.  Puppet is an understatement.  Icedrill is a hoax.

True? Not true? Why did you buy shares?

Bought them and then sold them, after realizing how fraudulent their claims were

[JohnyBigs]

I find it weird that icebreaker and crumbs have been accused of being the same person, and then for this theory to be further solidified by them jerking each other off with the champaign post.  Puppet is an understatement.  Icedrill is a hoax.

True? Not true? Why did you buy shares?

Bought them and then sold them, after realizing how fraudulent their claims were

Care to elaborate for the rest of us?

[VolanicEruptor]

I find it weird that icebreaker and crumbs have been accused of being the same person, and then for this theory to be further solidified by them jerking each other off with the champaign post.  Puppet is an understatement.  Icedrill is a hoax.

True? Not true? Why did you buy shares?

Bought them and then sold them, after realizing how fraudulent their claims were

Care to elaborate for the rest of us?

Absolutely..
Look at eASIC, a partner of Activemining... they have done reputable work with Seagate, a hard drive manufacturer.
Now, look at Hashfast... Hashfast?  No one has ever heard of them.  They haven't done reputable work with ANYONE.  
When shit hits the fan, icedrill is doing to blame HASHFAST, which is a vapour company.  It works out perfect.. pass the blame onto someone who doesn't exist!  It's the biggest scam BTCT has ever seen, and their claims of future hashpower are completely ridiculous.  Anybody who has done their research can see this is a shell company with nothing but completely anonymous people in power behind a faceless product..

[JohnyBigs]

I find it weird that icebreaker and crumbs have been accused of being the same person, and then for this theory to be further solidified by them jerking each other off with the champaign post.  Puppet is an understatement.  Icedrill is a hoax.

True? Not true? Why did you buy shares?

Bought them and then sold them, after realizing how fraudulent their claims were

Care to elaborate for the rest of us?

Absolutely..
Look at eASIC, a partner of Activemining... they have done reputable work with Seagate, a hard drive manufacturer.
Now, look at Hashfast... Hashfast?  No one has ever heard of them.  They haven't done reputable work with ANYONE.  
When shit hits the fan, icedrill is doing to blame HASHFAST, which is a vapour company.  It works out perfect.. pass the blame onto someone who doesn't exist!  It's the biggest scam BTCT has ever seen, and their claims of future hashpower are completely ridiculous.  Anybody who has done their research can see this is a shell company with nothing but completely anonymous people in power behind a faceless product..

How about uniquify? They seem to have been around for quite some time. But yeah hashfast just looks like a bunch of scammers, especially their marketing guru self shot lol.