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

[hasher87]

the ice is melting 

[paul3]

Is there any kind of financial statement that was released?

I'm especially interested if all BTC raised during IPO was exchanged into fiat or we might have profited during the recent rise of USDBTC exchange rate.

[lordkabalius]

Is there any kind of financial statement that was released?

I'm especially interested if all BTC raised during IPO was exchanged into fiat or we might have profited during the recent rise of USDBTC exchange rate.

It`s unreal. cause who must take profit? Why buy IPO or why owned IPO now or why owned IPO most time? Or calculate profit for each day owned? Or pay only them why owned in day, when rate it rise up?

Better use money to buy high quality miners.

[paul3]

It`s unreal. cause who must take profit? Why buy IPO or why owned IPO now or why owned IPO most time? Or calculate profit for each day owned? Or pay only them why owned in day, when rate it rise up?

Better use money to buy high quality miners.

Amount from public share sales -> 23,910 BTC, when BTC was slightly above $100/BTC -> $2,391,000

Mine Gh/s -> 235,294 Gh/s
Sierra units required -> 196 Sierras

A total investment for the Sierras of $1,862,000, if no discount was granted (November Sierra $9,500).

For me it is a difference if there is left about $500.000 today or about 5,000 BTC. That was my question.

[lordkabalius]

It`s unreal. cause who must take profit? Why buy IPO or why owned IPO now or why owned IPO most time? Or calculate profit for each day owned? Or pay only them why owned in day, when rate it rise up?

Better use money to buy high quality miners.

Amount from public share sales -> 23,910 BTC, when BTC was slightly above $100/BTC -> $2,391,000

Mine Gh/s -> 235,294 Gh/s
Sierra units required -> 196 Sierras

A total investment for the Sierras of $1,862,000, if no discount was granted (November Sierra $9,500).

For me it is a difference if there is left about $500.000 today or about 5,000 BTC. That was my question.

Good question! I hope we will get answer!

[Bargraphics]

It`s unreal. cause who must take profit? Why buy IPO or why owned IPO now or why owned IPO most time? Or calculate profit for each day owned? Or pay only them why owned in day, when rate it rise up?

Better use money to buy high quality miners.

Amount from public share sales -> 23,910 BTC, when BTC was slightly above $100/BTC -> $2,391,000

Mine Gh/s -> 235,294 Gh/s
Sierra units required -> 196 Sierras

A total investment for the Sierras of $1,862,000, if no discount was granted (November Sierra $9,500).

For me it is a difference if there is left about $500.000 today or about 5,000 BTC. That was my question.

Remember that they were supposed to get this in October which is funny considering HashFast didn't get their silicon from the fab until November 7th

I wonder what a December Sierra would be priced at, their "Third Batch" is priced at $6,300 per Sierra with Mid to End January Shipping.

I imagine December pricing would fall in between at around $8,000/Sierra (1200GH)

They would be able to get close to 300 Sieras for ~2.4M
or 360TH without discount.

With their discount they literally should be a 500TH mine now. Truth of the matter is, HashFast won't ever have enough chips to provide this to IceDrill and to all of their customers in any decent timeframe.

We can only wait until we hear word from Will or DeadTerra on this, right now we can only hope that IceDrill paid in BTC since I believe HashFast said they would honor a refund in the payment type made of same amount if they go past their December 31st deadline.

[lordkabalius]

Remember that they were supposed to get this in October which is funny considering HashFast didn't get their silicon from the fab until November 7th

I wonder what a December Sierra would be priced at, their "Third Batch" is priced at $6,300 per Sierra with Mid to End January Shipping.

I imagine December pricing would fall in between at around $8,000/Sierra (1200GH)

They would be able to get close to 300 Sieras for ~2.4M
or 360TH without discount.

With their discount they literally should be a 500TH mine now. Truth of the matter is, HashFast won't ever have enough chips to provide this to IceDrill and to all of their customers in any decent timeframe.

We can only wait until we hear word from Will or DeadTerra on this, right now we can only hope that IceDrill paid in BTC since I believe HashFast said they would honor a refund in the payment type made of same amount if they go past their December 31st deadline.

Good questions again and again..
IceDrill nothing change in profile about gh rate. I need to know what is IceDrill`s plan?
Just wait for hashfast and start with 250-360 th in Jan?
IceDrill must tell us all we want to know.

[dunchy]

It`s unreal. cause who must take profit? Why buy IPO or why owned IPO now or why owned IPO most time? Or calculate profit for each day owned? Or pay only them why owned in day, when rate it rise up?

Better use money to buy high quality miners.

Amount from public share sales -> 23,910 BTC, when BTC was slightly above $100/BTC -> $2,391,000

Mine Gh/s -> 235,294 Gh/s
Sierra units required -> 196 Sierras

A total investment for the Sierras of $1,862,000, if no discount was granted (November Sierra $9,500).

For me it is a difference if there is left about $500.000 today or about 5,000 BTC. That was my question.

This is THE question that absolutely deserves an honest and detailed answer. With figures.

[Hoofprint]

Any news about whats going to happen with the bitfunder shutdown

[pedrog]

Any news about whats going to happen with the bitfunder shutdown

Yes. We met today to discuss it. The general consensus is that we'll stick to the original plan, expanding it to everyone now.

Hi All
As it looks now this is our plan:
Everyone will be able to trade until the 1st of November, at this time anyone who has not been verified or are US citizens will not be able to trade the shares on BitFunder. We will be able keep paying dividends on BitFunder up until the 1st of December. At that point we will receive a list of all non-verified users/ US citizen accounts (the address and amount of shares). We will take this list and convert it (destroy at BitFunder and maintain a list internally) into offline shares. We’ll call them “direct shares” and pay dividends to the bitcoin address we’ll be given by BitFunder.

To this end, please ensure you are in direct control of the bitcoin address we’ll be receiving from BitFunder on 2 December. If you cannot sign a message with the address then you are not in direct control of it. For example, a deposit address at an exchange is NOT under your direct control. This is to ensure future tradability of the shares. If you cannot prove you own an address then it will remain untradable indefinitely.

Just to be clear: the solution to making these shares tradable is not technical, it’s legal. We’ll be exploring several different options hard to allow these direct shares to float once again.
//DeaDTerra

Same plan for everyone now? ...... now ButtFinder can't, with both hands... or something.

[DeaDTerra]

Any news about whats going to happen with the bitfunder shutdown

Yes. We met today to discuss it. The general consensus is that we'll stick to the original plan, expanding it to everyone now.

Hi All
As it looks now this is our plan:
Everyone will be able to trade until the 1st of November, at this time anyone who has not been verified or are US citizens will not be able to trade the shares on BitFunder. We will be able keep paying dividends on BitFunder up until the 1st of December. At that point we will receive a list of all non-verified users/ US citizen accounts (the address and amount of shares). We will take this list and convert it (destroy at BitFunder and maintain a list internally) into offline shares. We’ll call them “direct shares” and pay dividends to the bitcoin address we’ll be given by BitFunder.

To this end, please ensure you are in direct control of the bitcoin address we’ll be receiving from BitFunder on 2 December. If you cannot sign a message with the address then you are not in direct control of it. For example, a deposit address at an exchange is NOT under your direct control. This is to ensure future tradability of the shares. If you cannot prove you own an address then it will remain untradable indefinitely.

Just to be clear: the solution to making these shares tradable is not technical, it’s legal. We’ll be exploring several different options hard to allow these direct shares to float once again.
//DeaDTerra

Same plan for everyone now? ...... now ButtFinder can't, with both hands... or something.

Both me and Will are traveling right now. So we might be a bit slow at answering and giving announcements, sorry about this.

What we plan to do short term is when BitFunder shuts down we convert all shares into direct shares, which will be non transferable to start with.
Then we will either relist (on a exchange we find suitable for us and will be reliable long term), or we will start working on a way to automate transfers of shares between owners. As shown by AsicMiner to do manual transfers of shares between owners is not reliable and causes errors, hence we would like to avoid that.
Does this answer your question?
//DeaDTerra

[VolanicEruptor]

hashlast

[iCEBREAKER]

hashlast

HashFast have their chips in-hand.

That's more than LabKen, BlackArrow, BitMine, and ConTerra have going for them.

KnC won the race to 28nm, but that only the first skirmish in a longer war for 3rd gen ASIC dominance.

Man up old boy, and

ALWAYS BET ON iCE...

[cedivad]

HashFast have their chips wafers toner cartridges in-hand.

ftfy



We do something right in italy.

[Bargraphics]

hashlast

HashFast have their chips in-hand.

That's more than LabKen, BlackArrow, BitMine, and ConTerra have going for them.

KnC won the race to 28nm, but that only the first skirmish in a longer war for 3rd gen ASIC dominance.

Man up old boy, and

NEVER BET ON iCE...

FTFY

Please wake up,

While I understand you are a little mentally unstable you are not blind nor stupid.

They are delayed until Mid-Dec at earlier, doesn't matter what they have in hand right now it's not hashing. They will likely be delayed past Dec 31st due to holidays or some other issue and then every customer is entitled to a refund besides the newest that are purchasing unknowingly into that mess and on a different TOS.

Enjoy your paperweight with no MPP in Mid December. I'll enjoy the 7TH worth of KnC I've been mining with for more than a month. (395 coins mined and counting)

[will]

Hi All

Just a quick update:
1. DT and I have gone over the DC readiness pics, captioning as we go. Just need a bit of editing still to do, but should be forthcoming before the end of the week.
2. Not sure if bitfunder trading is stopped now, that security cert looks a bit weird to me so I don't want to login. Regardless, I'm taking snapshots of the IceDrill.ASIC share list here: https://bitfunder.com/assetlist, will consolidate with what we get from Jon Montroll. He seems to be having a fight with bitcoind at the moment... We should have something basic up and running by the end of the weekend to login and verify addresses, if all goes as planned.

Working with Hashfast is ongoing, I'm in touch with them at least twice a week, and will share what information I can when I can.
I can confirm that there is a guaranteed delivery date (refund date). And that we did pay in BTC. Both these points are public knowledge.

[Bargraphics]

Hi All

Just a quick update:
1. DT and I have gone over the DC readiness pics, captioning as we go. Just need a bit of editing still to do, but should be forthcoming before the end of the week.
2. Not sure if bitfunder trading is stopped now, that security cert looks a bit weird to me so I don't want to login. Regardless, I'm taking snapshots of the IceDrill.ASIC share list here: https://bitfunder.com/assetlist, will consolidate with what we get from Jon Montroll. He seems to be having a fight with bitcoind at the moment... We should have something basic up and running by the end of the weekend to login and verify addresses, if all goes as planned.

Working with Hashfast is ongoing, I'm in touch with them at least twice a week, and will share what information I can when I can.
I can confirm that there is a guaranteed delivery date (refund date). And that we did pay in BTC. Both these points are public knowledge.

Thanks for the update, looking forward to the pictures.

Did you confirm that your refund would be in the exact BTC you paid in? There seems to be mixed reviews on what HashFast has stated they would do in regards to refunds like these.

[bobboooiie]

Hi All

Just a quick update:
1. DT and I have gone over the DC readiness pics, captioning as we go. Just need a bit of editing still to do, but should be forthcoming before the end of the week.
2. Not sure if bitfunder trading is stopped now, that security cert looks a bit weird to me so I don't want to login. Regardless, I'm taking snapshots of the IceDrill.ASIC share list here: https://bitfunder.com/assetlist, will consolidate with what we get from Jon Montroll. He seems to be having a fight with bitcoind at the moment... We should have something basic up and running by the end of the weekend to login and verify addresses, if all goes as planned.

Working with Hashfast is ongoing, I'm in touch with them at least twice a week, and will share what information I can when I can.
I can confirm that there is a guaranteed delivery date (refund date). And that we did pay in BTC. Both these points are public knowledge.

And the date is? If you know this information this should be available to at least your shareholders.

[iCEBREAKER]

Please wake up,

While I understand you are a little mentally unstable you are not blind nor stupid.

They are delayed until Mid-Dec at earlier, doesn't matter what they have in hand right now it's not hashing. They will likely be delayed past Dec 31st due to holidays or some other issue and then every customer is entitled to a refund besides the newest that are purchasing unknowingly into that mess and on a different TOS.

Enjoy your paperweight with no MPP in Mid December. I'll enjoy the 7TH worth of KnC I've been mining with for more than a month. (395 coins mined and counting)

I know they are delayed until mid-Dec.  Why are you stating an obvious widely-known fact as if I wasn't aware of it, dressing it up as some kind of 'Gotcha?'

It does matter what they have in hand right now.  Your idiotic 'always-and-never' put-down is trivial to debunk.  EG, would you rather HashFast NOT have chips in-hand (perhaps delayed until Jan like Cointerra)?

If they're delayed past Dec 31 I get a refund in BTC.  That's fine with me.  Good on IceDrill for wisely forgoing MPP in favor of a bet on BTC appreciation vs fiat.

My mid-Dec Sierra is far from a paperweight.  Your shrill minimization of a 1.2+ TH beast's potential ROI in USD underscores the deficiency of your argument.

I'm happy your KnCs are doing so well, as are the KnCs in the group buys in which I participated.  Have fun fiddling with firmware, while I sit back and collect dividends with zero effort.   

PS  How was your steak dinner date with LabKen?  Did he take you deep into the Buttcave afterwards?  Oh wait, I know...that's under NDA!   

[pascal257]

I'm looking to sell my remaining 19408 shares before the move into direct shares. Drop me a line with your offer.