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

[stevenroose]

Looks like Icedrill may be going the quiet scam route..
no update when updates are needed most..
what a dirty game

I can confirm that Transisto has organized a forum for larger investors and that the current state of affairs is subject of the debate. The silence has something to do with the legal precariousness of the situation and that the IceDrill management seems to be wound up in negotiations with HashFast.

Well, I hope they negotiate smart. People investing in IceDrill (including investors from the management) have little chance seeing any profit if they don't negotiate a good deal from HashFast.

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[babybonobo]

Any updates for us investors who may own a considerable amount of shares but are still not invited to the secret forum?

[Jutarul]

Any updates for us investors who may own a considerable amount of shares but are still not invited to the secret forum confidential meeting?

FTFY

The rationale of the meeting is that the ID management has a manageable number of people to deal with in order to decide which information they want to disclose at the current moment. I hope this makes sense.

[babybonobo]

Any updates for us investors who may own a considerable amount of shares but are still not invited to the secret forum confidential meeting?

FTFY

The rationale of the meeting is that the ID management has a manageable number of people to deal with in order to decide which information they want to disclose at the current moment. I hope this makes sense.

Got it.  Thanks! Hope to hear more info soon!

[stevenroose]

I made a little calculation on TheGenesisBlock's mining website:
http://thegenesisblock.com/mining/a/2376eec389

Considering we start mining before February, it seems like there is still a chance to make profit, right?
Or did I enter some information wrong? We will get Sierra's, not Baby Jets, right?

[pedrog]

I made a little calculation on TheGenesisBlock's mining website:
http://thegenesisblock.com/mining/a/2376eec389

Considering we start mining before February, it seems like there is still a chance to make profit, right?
Or did I enter some information wrong? We will get Sierra's, not Baby Jets, right?

With the Sierra we should get around 2 TH/s, each chip goes up to 700 GH/s.

7.12 BTC, was that what we paid for each Sierra unit?

[stevenroose]

Probably less. That's the default price from the tool, but I suppose (hope) IceDrill got a lower price, considering the order volume.

[Minor Miner]

Probably less. That's the default price from the tool, but I suppose (hope) IceDrill got a lower price, considering the order volume.

Are you sure that means what you think it means?
I think you are mixing spot conversion of btc with USD.
So you would be more correct to say "I think we paid $5,000 per sierra (make your own guess here) and now to get that $5,000 back we only need to mine XX bitcoins at today's price.   To get the number of bitcoins paid per machine back, i would think your number would be between 30 to 45 bitcoin per machine.

[Flashman]

Shit, I don't wanna sound like a troll but if we don't get mining before diff is ~10 billion, then 3 month revenue will be something like 0.000033333 per share.   

... and since hardware reinvestment will be similarly underfunded it might take a year to gain ground.

[fudruker]

do we know if icedrill will be getting any kind of compensation for the late shipments at all?

[VolanicEruptor]

do we know if icedrill will be getting any kind of compensation for the late shipments at all?

I would think that would be covered in the discussions of this highroller forum which was recently mentioned...
Us mere mortals can only speculate.

[stevenroose]

Probably less. That's the default price from the tool, but I suppose (hope) IceDrill got a lower price, considering the order volume.

Are you sure that means what you think it means?
I think you are mixing spot conversion of btc with USD.
So you would be more correct to say "I think we paid $5,000 per sierra (make your own guess here) and now to get that $5,000 back we only need to mine XX bitcoins at today's price.   To get the number of bitcoins paid per machine back, i would think your number would be between 30 to 45 bitcoin per machine.

Ow, I indeed falsely assumed HF sod at fixed BTC prices. Ok, we're screwed.

Best option would be a full BTC refund. As they are shipping 2 months late, that only sounds reasonable. Or they could charge 5,000 USD per machine at the current rate and refund the excess we payed in BTC at the pre-order. I believe they stated previously that they were still holding our pre-order in Bitcoins, so they did not yet convert it to dollars.

[wosinddiehirsche]

are the shares on icedrill.io tradeable?

if yes, how?

[CleverMiner]

@DeaDTerra, with the amount of people involved in IceDrill how come nobody can come out and give any update at the most crucial time ?

Your negligence at keeping us updated is very likely to cause even more financial lost,

Between playing starcraft and launching ATMs do you have any time left to try save what's left of ID ?

Question : Have you at least had lawyers review the contract ?

[DeaDTerra]

@DeaDTerra, with the amount of people involved in IceDrill how come nobody can come out and give any update at the most crucial time ?

Your negligence at keeping us updated is very likely to cause even more financial lost,

Between playing starcraft and launching ATMs do you have any time left to try save what's left of ID ?

Question : Have you at least had lawyers review the contract ?

I can give you guys a quick update.
We have received several test units that worked well, so we know that HF has the tech ready to go.
Two of ID members are currently in Canada, preparing the DC and waiting for full scale production to start.
We will have our Sierras soon.
Everything is ready to go and at the moment we are waiting for HashFast.

We are currently discussing with HashFast regarding the delay of the units and the failure to deliver within the guaranteed date.
//DeaDTerra

[pedrog]

@DeaDTerra, with the amount of people involved in IceDrill how come nobody can come out and give any update at the most crucial time ?

Your negligence at keeping us updated is very likely to cause even more financial lost,

Between playing starcraft and launching ATMs do you have any time left to try save what's left of ID ?

Question : Have you at least had lawyers review the contract ?

I can give you guys a quick update.
We have received several test units that worked well, so we know that HF has the tech ready to go.
Two of ID members are currently in Canada, preparing the DC and waiting for full scale production to start.
We will have our Sierras soon.
Everything is ready to go and at the moment we are waiting for HashFast.

We are currently discussing with HashFast regarding the delay of the units and the failure to deliver within the guaranteed date.
//DeaDTerra

DeaDTerra, can you confirm Sierra hashing around 2 TH/s?

[Dexter770221]

@DeaDTerra, with the amount of people involved in IceDrill how come nobody can come out and give any update at the most crucial time ?

Your negligence at keeping us updated is very likely to cause even more financial lost,

Between playing starcraft and launching ATMs do you have any time left to try save what's left of ID ?

Question : Have you at least had lawyers review the contract ?

I can give you guys a quick update.
We have received several test units that worked well, so we know that HF has the tech ready to go.
Two of ID members are currently in Canada, preparing the DC and waiting for full scale production to start.
We will have our Sierras soon.
Everything is ready to go and at the moment we are waiting for HashFast.

We are currently discussing with HashFast regarding the delay of the units and the failure to deliver within the guaranteed date.
//DeaDTerra

DeaDTerra, can you confirm Sierra hashing around 2 TH/s?

And can you confirm that they hashing for US, shareholders?

[cedivad]

So IceDrill is hashing with 4PH right now?  
Looks like a proper compensation for a 10x difficulty increase to me!  

(before someone takes me seriously, i'm trolling)

[dropt]

We have received several test units that worked well, so we know that HF has the tech ready to go.

What is the address these units are mining to?  Do you have any proof to validate these claims?  Surely one of ID's IT guys has a phone with a camera on it.

Two of ID members are currently in Canada, preparing the DC and waiting for full scale production to start.

Did I miss where the farm's location changed to Canada from Europe?  This is not reflected on the first post of this thread.

[stevenroose]

Two of ID members are currently in Canada, preparing the DC and waiting for full scale production to start.

Did I miss where the farm's location changed to Canada from Europe?  This is not reflected on the first post of this thread.

This. There should be an official newsfeed of this to inform investors what is happening.

Hopefully everyone remembers the IPO filing stated that no dividends would be payed to private shares until all public shares got an accumulated dividend of at least the IPO share price... (I'm not 100% sure, but there was something like that in it.) Most probably someone will have a backup of the IPO filing from BitFunder to find the exact conditions. Maybe these documents should be published on the icedrill.io website as well.