bbxx
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August 09, 2013, 03:45:26 PM |
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moribana
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August 09, 2013, 03:46:16 PM Last edit: August 09, 2013, 04:21:41 PM by moribana |
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Hi! 6750 Bitcoins has been brought in through bulk purchases of public shares by private investors. This means we are one step closer to reaching the 20k BTC. 6 million shares need to be sold additionally for the IPO to reach the first goal. //DeaDTerra
If you are selling shares also at the local grocery store then the 12 August deadline does not impose a very strong constraint :-) and certainly not one that can be checked. To ensure that people have trust, an IPO should be much more transparent. Nobody knows e.g. how much those "private investors" paid per share. If there is not a single market where everybody can buy/sell under the same conditions then all sorts of manipulations are possible. I am not saying it happened this time, I have no information on that but there are certainly some players in this game who have some interest in doing such manipulations... Finally let me quote from you: "The first batch is a initial sale of 14,500,000 (14.5 million) shares, which will be sold on BitFunder for 0.0014 BTC per share." This was the promise and it did not happen since some of these shares were sold elsewhere, not on bitfunder.
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superduh
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August 09, 2013, 03:47:31 PM |
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so are these "private investors" the ones who are "buying" public shares and at the same time are part of the 40% ownership as well. so they are effectively more shares per "purchase"? sounds too fishy when "private investors" initial investment is never revealed - then they make a "big purchase" while at the same time retaining a portion of that 40% ownership
that's just....... you know that being honest is the best way to go but apparently it's not worth it for this operation
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ok
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will
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August 09, 2013, 04:08:00 PM |
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Just a note. We have no control over the technolgy and load-servicing technology behind hashfast.com. We've passed on the message to them.
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LordMeowMeow
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August 09, 2013, 04:26:24 PM |
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If IceDrill is able to raise ~6.5M dollars out of thin air they are magicians. There's no other explanation for this IPO to be filled.
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crumbs
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August 09, 2013, 04:49:37 PM |
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If IceDrill is able to raise ~6.5M dollars out of thin air they are magicians. There's no other explanation for this IPO to be filled.
Y U no faith moar? >> "6750 Bitcoins has been brought in through bulk purchases of public shares by private investors." //DeadTerra
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kingcrimson
Legendary
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Activity: 1025
Merit: 1000
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August 09, 2013, 06:42:20 PM |
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Why do I get the feeling that no matter how many shares are left on the 12th, "Private Investors" will pick them up and this IPO will go forward......
Yep it is a blatant load of crock. They aren't even honest enough to admit they over reached, and lower the goal...Not two days in and they are already BS'ing their shareholders. Couldn't expect any less from DT.
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iCEBREAKER
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Crypto is the separation of Power and State.
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August 09, 2013, 09:32:48 PM |
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Why do I get the feeling that no matter how many shares are left on the 12th, "Private Investors" will pick them up and this IPO will go forward......
Because if that were not the case, DT would have bothered to list on BTCT, MPEX, and possibly Havelock. This IPO is a done deal. If you don't want cheap shares, keep believing the (poor quality) FUD. DT is being his usual altruistic, generous self, providing a service to the community by creating a golden (nonce) opportunity to benefit from 28nm Gen3 ASICs with logarithmically lower barriers to entry than pre-orders. He has plenty of his own resources and doesn't need to do this nice thing to get richer, but realizes preserving the long-term viability of BTC is very much in his interest. Even a misanthropic Randroid like me can appreciate this Swedish socialist logic!
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DeaDTerra (OP)
Donator
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August 09, 2013, 09:40:57 PM |
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These private investors are people who wants to buy public shares in bulk and do not wish to disclose their identity, hence private not public. A better wording would have been anonymous or undisclosed investors. These are not to be confused with the privately held shares (the 40%). If we could and wished to lower the limit of fund raising we simply would announce a change in the batches, as we are allowed to. There would be no need to claim to have anonymous investors, it makes no sense. We are looking to announce the wallet holding the funds for IceDrill.ASIC so that you can transparently see as funds are being moved into it. //DeaDTerra
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will
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August 10, 2013, 11:52:36 AM |
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Hi All. DeadTerra asked me to post these as he's travelling at the moment. He'll add a link to it in the top post when he's back online. Q1: Are we going to overclock?
A: It is unknown as of yet what the exact cost/benefit effect of the over/underclocking of the golden nonce will be. The word “Ice” in the mine’s naming alludes to our confirmed, large-scale capability to achieve the safest, and most profit efficient mining state long-term. Testing this novel innovation of Hashfast will be a major part of our ongoing research once the mine is safely up and running at nominal speeds. Any advantage gained from safe overclocking will of course be passed on to shareholders as per the profit share agreement. Q2: What happens to Tranche 1 and Tranche 2 investors’ money if Tranche 3 fails? Would they get refunds?
A: We are currently working out a pro-rata deal with HashFast. We are optimistic that something will be worked out such that the farm would still be launched even if Tranche 3 fails. However, total size of the farm would be smaller but the profit split would remain the same. (ie. as reference, if you paid 0.0014 BTC for 1 share, you were entitled to profits after cost of roughly 10 Megahash. This ratio will remain the same.) Q3: How often would hardware be upgraded?
A: The schedule would be similar to dividend payouts. We are aware that hardware prices can fluctuate over time and there is no reliable way to time the market. However, as the reserves are deducted from our accounts, we would buy new hardware with that money and install it ASAP. Q4:Cost transparency. What is the expected operational costs and management fee? A: We will be as transparent about the operational costs as possible. We will post rental cost, electricity cost, staffing costs, maintenance costs, and upgrade costs. We will post the total hash rate of the mine for everyone to track, so you can see the new hash rates after upgrade. The ‘management fee’ will be nil. We have a fiduciary duty to maximize return for our shareholders. However, please note that some items need to remain confidential due to security and confidentiality reasons.
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hypersire
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August 10, 2013, 03:08:47 PM |
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I'm in! As of right now there are still 5,855,921 shares remaining in the first offering. I sure hope some more private investors scoop some of this up as I don't see how we'll make the deadline otherwise.
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aspect
Newbie
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August 10, 2013, 10:28:46 PM |
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You guys should do a documentary while setting this up.
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pedrog
Legendary
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Merit: 1031
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August 10, 2013, 10:45:07 PM |
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You guys should do a documentary while setting this up. That would be some great bitcoiner porn!
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superduh
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August 10, 2013, 11:58:26 PM |
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50m pending Icedrill on BTCT, what's with that one?
for their private investors
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ok
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CMMPro
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August 10, 2013, 11:59:04 PM |
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What a load of horseshit this private investor thing is...I was hanging in to the last minute before possibly buying a chunk of this but if this is the way things are being done before the IPO I can imagine your private investors will get all kinds of favorable treatment when it comes to the company later also. Will they get a heads up a day before bad news is dished out to the rest of the investors? How can we have confidence that preferential treatment like that won't happen since it was dished out this time?
Anonymous? Really? That doesn't even make sense. ALL purchases are anonymous when they are done on the public exchanges. All this does is exempt them from the process that all other shareholder have to go through to buy stock and offers them preferential treatment against all the remaining shareholders. We don't get a chance to see the huge sales via the exchange so we have no idea of the true demand and momentum of the stock.
This is blatant manipulation, preferential treatment of some shareholders over others and at a minimum violates the promises in the IPO that the funds will be issued on the open exchange.
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CMMPro
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August 11, 2013, 12:14:42 AM |
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What he really means to say is that the investors didn't want to see their huge buy order fulfilled on the open exchange where everyone could see it.
This hides the share sales / momentum from everyone.
The funny thing is that if he had forced them to buy on the open market at normal IPO price the other investors may have gone wild and likely bought up all the rest of the IPO and made it successful, instead this has left a bad taste in at least my mouth and I won't buy into this no until the IPO fails or the price floats on the open market.
I'm left with the logic that these "private investors" surely didn't pay full IPO price either and that is the only reason they would make the deal out the back door and out of the public eye.
These IPO's have to be taken a lot more seriously by these guys, what a joke. This is the shit that gets the SEC interested in what is going on here.
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VolanicEruptor
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August 11, 2013, 04:01:30 AM |
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CMMPro is right, I'm not investing a single dime into this IPO because it's shady as hell..
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Ytterbium
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August 11, 2013, 04:14:27 AM |
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CMMPro is right, I'm not investing a single dime into this IPO because it's shady as hell..
Like HashFast in general, IMO.
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HuLaN
Member
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Activity: 66
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August 11, 2013, 04:22:32 AM Last edit: August 11, 2013, 04:34:29 AM by HuLaN |
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If IPO fails hitting target by Monday deadline, there will be a buy back shortly after?
Looks like people are trying to get out..
Ask on bitfunder: 52,878 ฿0.0013990
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