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

[btcsql]

Will Icedrill be selling old hardware to the public as it becomes antiquated? What kind of salary is management taking for their duties in running all of this? Thanks for the response!

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[Dexter770221]

Why would you not also buy from others? Doesn't it seem kind of silly to only purchase hardware from hashfast?

Buying from one vendor you can have bigger discounts and as a big customer better service.

[creativex]

I could have sworn I saw DeaDTerra make a post about purchasing from other companies if they could get a better deal. Why was this post deleted?

You saw it.

[will]

I could have sworn I saw DeaDTerra make a post about purchasing from other companies if they could get a better deal. Why was this post deleted?

You saw correctly. I asked DT to remove the post because the announcement was premature.

Please know that there are other companies in the space who are interested in our ability to purchase large amounts of hashing power. Some chip manufacturers see the benefit of focusing purely on their core competency (chip design & production) and like the way we've opened our offering to the community at large (decentralization of ownership). We've all seen the problems mining hardware companies have had up until now with sales execution, customer support, shipping logistics and all the important things that go along with delivering these machines far and wide. Doing it this way gets their product out there faster, smoother and with much less hassle than shoe-horning marketing/support/logistics team onto an already extremely-busy design team. As tech companies they agree that rapid company growth places negative pressure on their technical development agility. e.g. If you have a chip designer directly answering customer/sales support questions then you're doing it wrong.

My apologies if it the post removal seems a bit "cloak and dagger", but we agree with senseless when he asked the question:

Doesn't it seem kind of silly to only purchase hardware from hashfast?

It does. We have a 25% expansion clause to fulfill and relying on a single manufacturer for servicing all our future expansion needs is not only short-sighted, but also bad business practice. If other manufacturers can deliver hashing power which fits well with the IceDrill's enterprise-level, high-density compute cluster we simply must have the conversation with them. Any announcements relevant to this topic will be made when/if the documentation to support them are finalised, not before.

EDIT: grammar

[will]

Will Icedrill be selling old hardware to the public as it becomes antiquated?

The topic of handling hardware obsolescence is something we'd like to defer until we have the 1st generation of hardware in-hand. Where possible we'd like to re-use as much hardware (PCBs, PSUs, cooling equipment, etc) as possible and implement chip replacement rather than dealing with the logistics of public sales/distribution. That sentiment can change though, depending on what's most profitable. Sorry, the best answer I have for you at the moment is "it's too early to say".

What kind of salary is management taking for their duties in running all of this?

Maintenance costs of running the IceDrill will be on an ad-hoc and contractual basis and will be clearly listed as such on financial reports. We have no current plans for salaried employment. We'd rather fix issues than pay someone to switch the machines off and on when there's problems Oh the stories I can tell from when I worked in banking....

Thanks for the response!

You're welcome, keep the questions coming.

[BitCsByBit]

I could have sworn I saw DeaDTerra make a post about purchasing from other companies if they could get a better deal. Why was this post deleted?

You saw correctly. I asked DT to remove the post because the announcement was premature.

Please know that there are other companies in the space who are interested in our ability to purchase large amounts of hashing power. Some chip manufacturers see the benefit of focusing purely on their core competency (chip design & production) and like the way we've opened our offering to the community at large (decentralization of ownership). We've all seen the problems mining hardware companies have had up until now with sales execution, customer support, shipping logistics and all the important things that go along with delivering these machines far and wide. Doing it this way gets their product out there faster, smoother and with much less hassle than shoe-horning marketing/support/logistics team onto an already extremely-busy design team. As tech companies they agree that rapid company growth places negative pressure on their technical development agility. e.g. If you have a chip designer directly answering customer/sales support questions then you're doing it wrong.

My apologies if it the post removal seems a bit "cloak and dagger", but we agree with senseless when he asked the question:

Doesn't it seem kind of silly to only purchase hardware from hashfast?

It does. We have a 25% expansion clause to fulfill and relying on a single manufacturer for servicing all our future expansion needs is not only short-sighted, but also bad business practice. If other manufacturers can deliver hashing power which fits well with the IceDrill's enterprise-level, high-density compute cluster we simply must have the conversation with them. Any announcements relevant to this topic will be made when/if the documentation to support them are finalised, not before.

EDIT: grammar

Is Avalon one of those companies? 

[will]

Forgive me if this was already written but I can't seem to find it with my limited browsing.
What are the goals for IceDrill regarding percentage of network hashrate, chip purchasing/designing, etc..

I'm more interested in looking past the initial launch and am wanting to know what the big picture is if this is wildly successful.

IE: Designing your own chips, having multiple companies on a wholesale/retainer agreement to provide chips to maintain a % of the hashrate?

I just can't see something on this scale only wanting 500TH and being happy.

From the initial post:
In order to grow, 75% of the profit from each shares share will be paid out to the investor, and the remaining 25% will be reinvested in additional mining capacity on a continual basis. Thus, the mine will grow substantially over time to maintain the most efficient market share.

Agreed, we won't be happy with our initial hashrate deployment, hence the built-in expansion requirement. At the moment our focus is execution of our 1st phase, and achieving the goals stated here. We do have some ideas on how to proceed from there, but nothing final and certainly nothing we can announce here (for now).

[will]

Is Avalon one of those companies?  

I'd rather not play the "process of elimination" game if that's ok with you? Apologies if my post above alluded to any single chip design/manufacturing company, it was not my intention. My intention was to highlight the patterns we've been seeing up until now.

[Stuartuk]

I'm more interested in looking past the initial launch and am wanting to know what the big picture is if this is wildly successful.

Oh this will be huge take it from me. A huge success for some. Defo. Well, certainly the private investors, they done well didn't they? Care to comment on the share sale to the private investors? Does it concern you, atall?

[Stuartuk]

Can you guarantee a return of 0.0017 in Dividends to Investors before "private investors" take their share so the remaining 7 Million shares can be guaranteed a small return?

Oh you did mention your concerns about getting all your money back! I think you will, I mean the plan is to do that but if the mining doesn't raise anything CLOSE to that per share I'm sure IceDrill will somehow scrape together a few MIll USD to pay everyone back. But my tip is get that in writing because if IceDrill only mines .000003 per share before it folds you might be a bit peeved? Maybe?

[Stuartuk]

AFAIK, the first 550 BJs and ice.drill's chips are both being cut from the same initial batch of wafers.

There is no way to determine BJ assembly time plus end-user shipping vs Swedish shipping/customs plus iD assembly time.

It's a toss up.  But speaking of BJs, DT should blow, bribe, or blackmail whoever necessary to prevent a repeat of Avalon's latest disaster. 

Wow that sounds like a huge gamble in terms of their being a long chain with plenty of potential for hold ups - don't you agree? Please expand on potential problems.

Bribery and blackmail - yes a good choice, I mean what could go wrong with a company bribing Customs Officers?

[drawingthesun]

I think someone wants cheap shares.....

Stuartuk just single handedly dropped the entire share price by 0.00002 BTC.

Shows how fragile this stock is.

[will]

Wow that sounds like a huge gamble in terms of their being a long chain with plenty of potential for hold ups - don't you agree? Please expand on potential problems.

When you say "their being a long chain..." do you mean the IceDrill personell being a long chain of hold ups? No, our personell will definitely not hold up anything.

EDIT: Stuartuk, if you have a question, please ask it. I understand that you're invested in Active Mining (from your sig) and hope that it's going really well for everyone involved in it. I welcome any/all of your input here.

[Stuartuk]

I think someone wants cheap shares.....

Stuartuk just single handedly dropped the entire share price by 0.00002 BTC.

Shows how fragile this stock is.

Believe me drawinginthesun, no disrespect but I do NOT want, own, or intend to buy or sell any IceDrill shares.

[Stuartuk]

Wow that sounds like a huge gamble in terms of their being a long chain with plenty of potential for hold ups - don't you agree? Please expand on potential problems.

When you say "their being a long chain..." do you mean the IceDrill personell being a long chain of hold ups? No, our personell will definitely not hold up anything.

EDIT: Stuartuk, if you have a question, please ask it. I understand that you're invested in Active Mining (from your sig) and hope that it's going really well for everyone involved in it. I welcome any/all of your input here.

Hi Will, we are actually having a few idiots (two today - Icebreaker and Baragraphics) coming onto the ACtM Official thread repeatedly spreading false accusations, lies, and demanding the company release commercially sensitive information - then saying because ACtM don't release the info some of which is under a NDA that the company is worthless. Now I don't know why they are doing this but both of them are active on your (this) thread and one has even said he doesn't own any ACtM shares but only IceDrill.

Obviously it's a pain having these people talk down a company you have invested money in so I've come over here to see what they are up to, and simply to - in a fair way - suggest they answer the same questions about their own investment that they are demanding of ACtM.

Now you may see that as not being fair, and a pain for you, but I am only asking the same questions here that they are repeatedly, day after day, asking over on our thread. Obviously I DO NOT in any way intend to disrupt your thread, cause any damage to your company or share price. Perhaps answering the same questions about their own investments will give these two a new sense of perspective, I hope so. Thankyou.

[Stuartuk]

When you say "their being a long chain..." do you mean the IceDrill personell being a long chain of hold ups? No, our personell will definitely not hold up anything.

No, I was referring to the list of possible sources of delay as listed by IceBreaker i.e.

'BJ assembly time plus end-user shipping vs Swedish shipping/customs plus iD assembly time'

As I see it there is potential for delay at each of these stages and I was simply wondering what icebeaker thought about that and how likely he thought delay at each specific stage was.



BTW Will I have changed my sig so as to not give the impression that I represent ACtM. I am not affiliated with ACtM in any way except that I am a minor shareholder. Thanks again.

[will]

....repeatedly spreading false accusations, lies, and demanding the company release commercially sensitive information...

I assumed this was par for the course in an open forum where anyone (and everyone) can chime in with their opinions.

...Now you may see that as not being fair, and a pain for you...

I can't speak for anyone else here, but I've learnt that it's a good idea to decouple emotions from financial decisions and the research that goes along with making them. Doing otherwise, at least for me, would guarantee a descent into madness and irrational behaviour. Your words caused me no pain whatsoever.

Obviously I DO NOT in any way intend to disrupt your thread, cause any damage to your company or share price.

Thank you for the sentiment. I hope that when you do your due diligence and research into our company with a level head you'll find that the share price is very reasonable for what is on offer.

Perhaps answering the same questions about their own investments will give these two a new sense of perspective

Those questions and their subsequent answers are really only useful to anyone if you direct them to myself (or DT) for answering.

[foxykah]

just bought 16k + shares under IPO price. People have sooo weak hands nowadays..

[ajk]

weak hands or being smart? I just think this sounds to much like a huge mining bond than anything else, if hashfast is legit and delivers perhaps the price will go up but only time will tell,

[limbaugh]

weak hands or being smart? I just think this sounds to much like a huge mining bond than anything else, if hashfast is legit and delivers perhaps the price will go up but only time will tell,

I don't think we have seen the bottom of this one.