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Author Topic: [BitFunder] IceDrill.ASIC IPO (235 Thash Mining Operation powered by HashFast)  (Read 376056 times)
cedivad
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January 13, 2014, 02:45:56 PM
 #1281

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

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

My anger against what is wrong in the Bitcoin community is productive:
Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)
Hashfast.org - Wiki for screwed customers
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dropt
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January 15, 2014, 11:48:31 PM
 #1282

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.

Quote
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.
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January 15, 2014, 11:53:11 PM
 #1283

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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.

There is one thing I will never understand about Bitcoin.
Why didn't Satoshi Nakamoto start with a 100 BTC bounty per block instead of 50. 100 is so much more logical.
But especially, 42 million is a tremendously fancier number for the maximum amount of bitcoins in circulation than the current 21 million.
pedrog
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January 16, 2014, 01:33:18 AM
 #1284

Quote
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.

You are correct, you need to look a few pages back for confirmation.

VolanicEruptor
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January 16, 2014, 01:49:51 AM
 #1285

Quote
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.

Oh man that sounds like such a ripoff for them considering we will never make the IPO back

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January 16, 2014, 08:22:12 AM
 #1286

Quote
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.

Oh man that sounds like such a ripoff for them considering we will never make the IPO back
This was mentioned previously, to be closer to the production of the HashFast units we moved Datacenter to Canada.
Now we are a lot closer to Ciara then the previous farm, which will allow us to avoid shipping delays and costs.

I will check if Will can provide us with the Bitcoin address they have connected the units to, as well as the pool info so you can follow as we connect units.
Right now we only have test units going,
We are still waiting for full production.

Everything mined will go to the public shareholders, nothing will go to the private shareholders as agreed.

We have pictures and documentation, but I need to check what information we are allowed to disclosed (specs of units, pictures of units etc).
We will have a update available for you guys shortly Smiley
//DeaDTerra
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January 16, 2014, 09:48:36 AM
 #1287

Hey guys!
I got a picture for you,

Will and the guys are writing a review/summary of the tech that they have received, which will contain information on the tech.

We are very happy with the tech though, it is very impressive and works well.
That's all I have for now, I will keep feeding you guys more information as it comes in Smiley
//DeaDTerra
babybonobo
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January 16, 2014, 11:06:56 AM
 #1288

You're awesome DT...I knew I could count on you.  Thanks for the pic and the updates!
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January 16, 2014, 11:07:52 AM
 #1289

You're awesome DT...I knew I could count on you.  Thanks for the pic and the updates!
No problem sorry about the slow updates some times,
It is hard to push updates out as I have to confirm with several sources before I can post Smiley
//DeaDTerra
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January 16, 2014, 11:08:19 AM
 #1290

So many empty U's Sad

Under development Modular UPGRADEABLE Miner (MUM). Looking for investors.
Changing one PCB with screwdriver and you have brand new miner in hand... Plug&Play, scalable from one module to thousands.
DanyAC
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January 16, 2014, 12:41:26 PM
 #1291

Thank you for the updates!!
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January 16, 2014, 01:05:00 PM
 #1292

Awwww, they look lonely, hope they get some friends soon.

TL;DR See Spot run. Run Spot run. .... .... Freelance interweb comedian, for teh lulz >>> 1MqAAR4XkJWfDt367hVTv5SstPZ54Fwse6

Bitcoin Custodian: Keeping BTC away from weak heads since Feb '13, adopter of homeless bitcoins.
raskul
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January 16, 2014, 01:32:35 PM
 #1293

good to read an update that didn't include any whinging and moaning.

while i'm at it, i'm going to put in my 2p on current conversations...
here's a hypothetical one for you;

If I instruct my bank (in the UK) to transfer $xxxx to a US manufacturers bank for a purchase order, the transfer costs me £xxxx and the exchange rate is x.xx etc etc

Eventually I decide that I want a refund and the company I sent the purchase order to refunds the exact amount of $USD as they received at the time of purchase.

Unfortunately the exchange rate at time of refund has dropped and I lose £xxx due to the exchange rate

who's fault is it that I lost money?

is it the producer of the product? NO.
is it the bank for reducing their exchange rate? NO


I don't anticipate any judge in the universe ruling in favour of a full BTC repayment to HashFast pro-order customers at current rates of exchange.
well, that's my 2p...
good luck with your venture DT



tips    1APp826DqjJBdsAeqpEstx6Q8hD4urac8a
Jutarul
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January 16, 2014, 02:00:21 PM
 #1294

I don't anticipate any judge in the universe ruling in favour of a full BTC repayment to HashFast pro-order customers at current rates of exchange.
well, that's my 2p...
good luck with your venture DT
The issue is not about a refund anymore. It's about an undelivered product and HF has to replace the opportunity.

The promise pushed forward by HF since August was that their customers will not take a hit to their opportunity. The opportunity here is the difference between spending and not spending their bitcoins with HF.

First they did that with a close to the edge priced product (in terms of bitcoin ROI) based on a timely delivery in october. Later they upgraded that promise by offering a MPP and promising delivery to the end of the year. Actions speak louder than words, which can be twisted and turned (something they even try now).

HF has a liability on their books and they're doing everything they can to get rid of it. The same deceptive strategies they applied during their marketing now is used in their legal resolve. I expect them to prolong this tactics as long as they need to get the books cleaned up. After then it depends on the level of criminal energy within HF. If they turn "sober", they will likely clean up their marketing and replace it by a more honest approach and offer transparent contracts, with clear refund conditions and penalties for non-delivery denominated in USD.

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
"The way you solve things is by making it politically profitable for the wrong people to do the right thing.", Milton Friedman
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January 16, 2014, 02:09:45 PM
 #1295

I don't anticipate any judge in the universe ruling in favour of a full BTC repayment to HashFast pro-order customers at current rates of exchange.
well, that's my 2p...
good luck with your venture DT
The issue is not about a refund anymore. It's about an undelivered product and HF has to replace the opportunity.



don't get me wrong, i totally agree that these timescale promises should never have been made in the first place, but from reading others posts, and looking at the legal documents which have been submitted in relation to the case, it does smack a bit of...

'ooooh look how much I could have had if i'd kept my BTC'

courts don't appreciate if's and but's and this could easily be the downfall of any legitimate case.

the facts remain, refunds are being offered... and I also think there should be 'some' recompense made to customers who have not received batch1, but the amounts being demanded are just a bit silly, really.

tips    1APp826DqjJBdsAeqpEstx6Q8hD4urac8a
Jutarul
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January 16, 2014, 02:23:36 PM
 #1296

The issue is not about a refund anymore. It's about an undelivered product and HF has to replace the opportunity.
...
'ooooh look how much I could have had if i'd kept my BTC'

courts don't appreciate if's and but's and this could easily be the downfall of any legitimate case.
...
No. Opportunity works both ways. If bitcoin had crashed in the meantime the opportunity of holding on to your bitcoin would have suffered the same damage. Thus your argument applies to a different kind of opportunity, which is the ability to sell your bitcoins right before the price crashes for USD.

When the customers payed for the order with bitcoin they gave up opportunity 2 (BTC->USD) voluntarily, but they didn't give up opportunity 1 (MINING->BTC). When HF didn't deliver mining hardware they destroyed opportunity 1.

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
"The way you solve things is by making it politically profitable for the wrong people to do the right thing.", Milton Friedman
raskul
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January 16, 2014, 02:31:47 PM
 #1297

The issue is not about a refund anymore. It's about an undelivered product and HF has to replace the opportunity.
...
'ooooh look how much I could have had if i'd kept my BTC'

courts don't appreciate if's and but's and this could easily be the downfall of any legitimate case.
...
No. Opportunity works both ways. If bitcoin had crashed in the meantime the opportunity of holding on to your bitcoin would have suffered the same damage. Thus your argument applies to a different kind of opportunity, which is the ability to sell your bitcoins right before the price crashes for USD.

When the customers payed for the order with bitcoin they gave up opportunity 2 (BTC->USD) voluntarily, but they didn't give up opportunity 1 (MINING->BTC). When HF didn't deliver mining hardware they destroyed opportunity 1.

I concur, I just feel a sense that it could all go horribly wrong for the claimants. And yes, I know that in legal terms, if you aim for the sky you might make the ceiling... it's interesting, and i'm following keenly. Personally, i'm glad I paid HF in USD, but i'm content to take the refund offered rather than go down the route of legal proceedings.

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Jutarul
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January 16, 2014, 03:02:40 PM
 #1298

When the customers payed for the order with bitcoin they gave up opportunity 2 (BTC->USD) voluntarily, but they didn't give up opportunity 1 (MINING->BTC). When HF didn't deliver mining hardware they destroyed opportunity 1.

I concur, I just feel a sense that it could all go horribly wrong for the claimants. And yes, I know that in legal terms, if you aim for the sky you might make the ceiling... it's interesting, and i'm following keenly. Personally, i'm glad I paid HF in USD, but i'm content to take the refund offered rather than go down the route of legal proceedings.
Personally, I don't think this will end up in court. There's just too much incentive for them to settle this out of court. If this ends up in court, not only do they risk full compensation damages, but also could be in for fraud penalties.

Payment in USD still makes them liable for missing opportunity 1. But I fully understand people who don't want to deal with the legal procedures and thus take the bait and settle now. Those people are precisely why they send these USD settlement checks - it reduces their liability without any efforts. If the customer is happy with their USD settlement, it's a win-win.

Their next offer probably entails something like a fractional bitcoin settlement, to shake off the next group of customers...

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
"The way you solve things is by making it politically profitable for the wrong people to do the right thing.", Milton Friedman
dropt
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January 16, 2014, 03:22:07 PM
 #1299

No problem sorry about the slow updates some times,
It is hard to push updates out as I have to confirm with several sources before I can post Smiley
//DeaDTerra

Thank-you DT.  I appreciate your timely response to my inquiries.
Eisenhower34
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January 20, 2014, 09:34:34 PM
 #1300

Seeing a pic of 3 units now hashing is nice and so on but its really nothing else but hot air compared to the one and only urgent question right now?

Is there any reasonable (shareholder satisfying) compensation for the delay of delivery?

Even if they deliver all their initial promised ASICs by tomorrow, its still a total fallout and noone will get his BTC back...

You are discussing this for now over 2 weeks I believe, so what can we expect?
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