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

[Deprived]

I agree, so far DeaDTerra was very responsive and supportive. People not happy with this IPO can leave freely without losses.

Of course he will be responsive and supportive. He's asking for millions of dollars without a plan that benefits himself and his partners so much.

The doubts and criticism have nothing to do with how nice he might be.

IceDrill is paying out .0016 to bitfunder shareholders before a single dime goes to DeadTerra.

Is that true?

So far he hasn't confirmed that all funds raised from IPO are being used to the benefit of investors - so it's not clear yet whether some of the IPO funds ARE going to DeadTerra.  I'm not claiming that he IS going to pocket some of the IPO funds - just pointing out that he hasn't yet clarified that detail.

EDIT: There wouldn't be anything 'wrong' with a cut of IPO funds being taken - but it would mean your statement was wrong.  The impression a quick read of the contract gives is that it's shares/revenue share in a company being sold.  But closer examination suggests it may actually be a PMB that charges expenses and reinvests (compounding profit OR loss) - with any benefit of cheaper prices from large-scale purchase not actually being passed through to investors.  If ALL funds raised from IPO are staying in the company and being used for the benefit of investors then your comment is true - and it's a decent offering.  I'm not convinced that's the case - but obviously DT can clarify if he chooses to and hopefully I'm just reading too much into what wasn't stated.

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[runam0k]

Ask wall is being rapidly bought up.   Get them while they're cheap!

Sarcasm or was the wall higher than the 1.75m that it is now (at the time of typing)?

[VolanicEruptor]

I agree, so far DeaDTerra was very responsive and supportive. People not happy with this IPO can leave freely without losses.

Of course he will be responsive and supportive. He's asking for millions of dollars without a plan that benefits himself and his partners so much.

The doubts and criticism have nothing to do with how nice he might be.

IceDrill is paying out .0016 to bitfunder shareholders before a single dime goes to DeadTerra.

I do not understand this constant hating on DT for what is probably the most heavily-weighted-toward-the-shareholder agreement on the market.

Wrong.. activemining was.  It started with just promises of future mining divs.  Shareholders convinced Ken to merge VMC with AMC to include proits of future hardware sales, AND pay shareholders .0025/div before Ken gets a cut.  THAT was a heavily-weighted-toward-the-shareholder agreement!   

[DeaDTerra]

Hi!
We have now finalized the deal with HashFast.
The impact on the public investors is as follows:

1. The third batch does not need to be sold for the IPO to be deemed a success. This is due to that HashFast has changed the minimum amount of capital we need to bring them. Instead the more of batch three we sell the larger amount of Hashing power we can acquire. Please note that each share will still have the same initial hashing power (10 Mhash) independent on the amount we manage to raise in batch three.

2, There is a price change which will be absorbed by the private investors. Once we know how many shares we have sold and hence the hashing power the farm will have, the private vs public share ratio will be released. Please note that it will be under or equal to the current 60/40. (Please note that this is the same as for the discounts for the bulk purchases, as we maintain the hashing power per share of the public shares we will have to issue less private shares to pay for these discounts)

3, The amount of shares sold will be floating, with a maximum of 36.636 Million shares and a minimum of the current 17 million. The percent ownership of the profits will be adjusted so that each share is worth the capacity of 10 mhash at startup, please note that this percentage can only go up and not down. Hence it can not go below the current 1/50,000,000.

We think that these changes should not affect the attractiveness of the public shares and we have tried to keep the promises made as much as possible. In the cases where we could not we have tried to make it a neutral or positive change for the public investors.

//DeaDTerra

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...
I do not understand this constant hating on DT for what is probably the most heavily-weighted-toward-the-shareholder agreement on the market.

So, you're all in?

[VolanicEruptor]

Can you please show us what hashfasts previous work involves?  What kind of products have they produced and for what companies??  I'd love to see some of their work but there seems to be limited information on them

[4_skin]

Hi!
We have now finalized the deal with HashFast.
The impact on the public investors is as follows:

1. The third batch does not need to be sold for the IPO to be deemed a success. This is due to that HashFast has changed the minimum amount of capital we need to bring them. Instead the more of batch three we sell the larger amount of Hashing power we can acquire. Please note that each share will still have the same initial hashing power (10 Mhash) independent on the amount we manage to raise in batch three.

2, There is a price change which will be absorbed by the private investors. Once we know how many shares we have sold and hence the hashing power the farm will have, the private vs public share ratio will be released. Please note that it will be under or equal to the current 60/40. (Please note that this is the same as for the discounts for the bulk purchases, as we maintain the hashing power per share of the public shares we will have to issue less private shares to pay for these discounts)

3, The amount of shares sold will be floating, with a maximum of 36.636 Million shares and a minimum of the current 17 million. The percent ownership of the profits will be adjusted so that each share is worth the capacity of 10 mhash at startup, please note that this percentage can only go up and not down. Hence it can not go below the current 1/50,000,000.

We think that these changes should not affect the attractiveness of the public shares and we have tried to keep the promises made as much as possible. In the cases where we could not we have tried to make it a neutral or positive change for the public investors.

//DeaDTerra

sounds like you have a good relationship with hashfast...

[DiamondCardz]

Bought 1 BTC worth of shares. 

Maybe this will be the next ASICMiner...?

[superduh]

Bought 1 BTC worth of shares. 

Maybe this will be the next ASICMiner...?

impossible - unless they start producing chips in house

[DiamondCardz]

Bought 1 BTC worth of shares. 

Maybe this will be the next ASICMiner...?

impossible - unless they start producing chips in house

True, true.

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Hmm.  1BTC gets you exactly... 6 Satan 6 Satan 6 Satan !!1!!

[Dexter770221]

If all shares will be sold before 3rd November, how new shares will be isued? 100k daily, 1M daily? Average daily sell from previous week?

[cryptograd]

Technically you would be better off buying your own 400 Gh miner and mining it on your own if your entry level is 8k and you want 8 months worth of mining starting in October.

just sayin

[Stuartuk]

Technically you would be better off buying your own 400 Gh miner and mining it on your own if your entry level is 8k and you want 8 months worth of mining starting in October.

just sayin

Only if your mum doesn't mind you putting it in the front room.

[VolanicEruptor]

Technically you would be better off buying your own 400 Gh miner and mining it on your own if your entry level is 8k and you want 8 months worth of mining starting in October.

just sayin

Only if your mum doesn't mind you putting it in the front room.

If she bangs random dudes in the living room, he should at least get to set up his mining rig there..

Fight back, son..

[cryptograd]

Technically you would be better off buying your own 400 Gh miner and mining it on your own if your entry level is 8k and you want 8 months worth of mining starting in October.

just sayin

Only if your mum doesn't mind you putting it in the front room.

If she bangs random dudes in the living room, he should at least get to set up his mining rig there..

Fight back, son..

ah the wanna be's have arrived

you're both broke in real life and broke in BTCitcoins


keep checking your BTC.025 BTCitcoin balance
 

waste of bandwidth... waste of oxygen
kill yourselves

[VolanicEruptor]

uhhhh you know we were joking, right?
sorry to offend you..

[iCEBREAKER]

[Activemining] prices will continue to stabilize at .006 until we have some real news.  You have my word.

Last trade: 0.00443.   

So much for VE's credibility.  His "word" isn't worth the electrons it's transmitted by.

[VolanicEruptor]

[Activemining] prices will continue to stabilize at .006 until we have some real news.  You have my word.

Last trade: 0.00443.   

So much for VE's credibility.  His "word" isn't worth the electrons it's transmitted by.

I meant BTCT, and I have been doing a good job of keeping it close to .006.

[Stuartuk]

waste of bandwidth... waste of oxygen
kill yourselves

Lighten up man it was a joke not even aimed at you.

When you said 'you would be better' you didn't mean anybody in particular it was a general comment - and when I said 'only if your mum' it was also a general comment. You should have only have taken that personally if we had had some history but I don't think we have had any?