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

[redphlegm]

I haven't kept track of this thread in quite some time. I verified for a share transfer from bitfunder to icedrill.io but is there something I missed that I should have done after that?

Thanks in advance. Couldn't really see it from the thread.

Have you registered at CryptoMex?

I have not. I wasn't aware I was supposed to. What does that do for me - or better yet, do you happen to have a link to the what and why of what I need to do? I don't want to go registering only to find out that I was supposed to follow some registration process or that my email address of icedrill.io should be tied to cryptomex in some way.

[1714882105]

1714882105

[pedrog]

I haven't kept track of this thread in quite some time. I verified for a share transfer from bitfunder to icedrill.io but is there something I missed that I should have done after that?

Thanks in advance. Couldn't really see it from the thread.

Have you registered at CryptoMex?

I have not. I wasn't aware I was supposed to. What does that do for me - or better yet, do you happen to have a link to the what and why of what I need to do? I don't want to go registering only to find out that I was supposed to follow some registration process or that my email address of icedrill.io should be tied to cryptomex in some way.

It's were we get our dividends from Ice.Drill.

https://www.cryptomex.io register with same email used at icedrill.io and I think that's all.

[redphlegm]

I haven't kept track of this thread in quite some time. I verified for a share transfer from bitfunder to icedrill.io but is there something I missed that I should have done after that?

Thanks in advance. Couldn't really see it from the thread.

Have you registered at CryptoMex?

I have not. I wasn't aware I was supposed to. What does that do for me - or better yet, do you happen to have a link to the what and why of what I need to do? I don't want to go registering only to find out that I was supposed to follow some registration process or that my email address of icedrill.io should be tied to cryptomex in some way.

It's were we get our dividends from Ice.Drill.

https://www.cryptomex.io register with same email used at icedrill.io and I think that's all.

Just did that. No assets show up.

[pedrog]

Just did that. No assets show up.

Eventually, they'll show up.

[molecular]

Just did that. No assets show up.

Eventually, they'll show up.

give it about 2 weeks.

[WillMilk4Coin]

Anyone feel they have a firm grasp on the status of this venture?

A summary of the situation as I understand it -please correct me where I'm wrong:

· Bitfunder shuts down so accounting for shares transferred to icedrill.io
· HF delivers late with faulty & underperforming hardware
· Shares are converted to profit units and transferred from icedrill.io to cryptomex.io
· All terms and agreements made at the start of the IPO are thrown out in the share conversion process
· IceDrill's reinvestment strategy is scrapped while mining returns diminish and hardware assets devalue
· Profit unit trade becomes subject to KYC information filed with cryptomex
· Profit units depreciate while there remains no method for trade
· Profit unit allocation and dividend distribution executed manually, behind schedule with a fraction of available funds
· IceDrill admin in court seeking financial reimbursement alongside other creditors with HF filing chapter 11

...
Is there any other outlook for investors besides hoping for the largest possible award in the settlement with HF, mining with current hardware for as long as mining return outweighs hosting costs, liquidating assets for whatever value remains and hoping IceDrill management distributes the balance of funds to investors?

[Hoofprint]

Anyone feel they have a firm grasp on the status of this venture?

A summary of the situation as I understand it -please correct me where I'm wrong:

· Bitfunder shuts down so accounting for shares transferred to icedrill.io
· HF delivers late with faulty & underperforming hardware
· Shares are converted to profit units and transferred from icedrill.io to cryptomex.io
· All terms and agreements made at the start of the IPO are thrown out in the share conversion process
· IceDrill's reinvestment strategy is scrapped while mining returns diminish and hardware assets devalue
· Profit unit trade becomes subject to KYC information filed with cryptomex
· Profit units depreciate while there remains no method for trade
· Profit unit allocation and dividend distribution executed manually, behind schedule with a fraction of available funds
· IceDrill admin in court seeking financial reimbursement alongside other creditors with HF filing chapter 11

...
Is there any other outlook for investors besides hoping for the largest possible award in the settlement with HF, mining with current hardware for as long as mining return outweighs hosting costs, liquidating assets for whatever value remains and hoping IceDrill management distributes the balance of funds to investors?

you forgot will is a board member of Scamyoumex. Im sure hes getting kickbacks or will when theres withdrawal fees.

[dunchy]

Is there any other outlook for investors besides hoping for the largest possible award in the settlement with HF, mining with current hardware for as long as mining return outweighs hosting costs, liquidating assets for whatever value remains and hoping IceDrill management distributes the balance of funds to investors?

You just perfectly described my dream scenario for the rest of the lifetime of this baghold security. Sooner they realize that if you find yourself in a hole it's better to stop digging, better for everyone.

[Bananery]

Is there any other outlook for investors besides hoping for the largest possible award in the settlement with HF

HF has very little remaining assets. We'll get pennies of dollar per share. Once again DeadTerra trusted investors' funds to people he didn't know. They turned out to be scammers or completely incompetent, what a surprize!

Last time AsicMiner saved his ass and he paid out a bit over initial investment in his Gamma Fund. This time it's a total failure. Why are we so stupid that we trust these idiots?

[DanyAC]

Just did that. No assets show up.

Eventually, they'll show up.

give it about 2 weeks.

Hi!, I made my account in cryptomex.io a few months ago and I didn't see my shares... I only see it in icedrill.io :/

Any suggestion?

Thanks

[Wayne_Chang]

Just did that. No assets show up.

Eventually, they'll show up.

give it about 2 weeks.

I just registered my account on CryptoMex with the same email address I left in Icedrill. So, I need to wait another 2 weeks to get my shares in CryptoMex. Correct?

[WillMilk4Coin]

HF has very little remaining assets. We'll get pennies of dollar per share. Once again DeadTerra trusted investors' funds to people he didn't know. They turned out to be scammers or completely incompetent, what a surprize!

Last time AsicMiner saved his ass and he paid out a bit over initial investment in his Gamma Fund. This time it's a total failure. Why are we so stupid that we trust these idiots?

At the time of launch, this was a lucrative fund. Personally, I liked the aggressive reinvestment plan and the promise to repay public before private shares didn't hurt either. At the time the IPO opened, I don't believe anyone anticipated HF would be as late with shoddy equipment nor the shutdown of bitfunder (and the poor choice to go to cryptomex for accounting & trading)

Even though I don't completely agree with some of the decisions & actions, or appreciate the lack of communication, it's easy to throw Will and DeadTerra under the bus in this situation in which they really have little recourse but to react to problems caused by other parties. Tying IceDrill so tightly and exclusively to HF was a problem since our success then depended entirely on HF's success. Now, the ship has sunk and we're all just trying to cling to scraps of debris left in the wake. Without raising any further capital, there really isn't a happy ending for us; not even raising more capital is the answer as it'd only further dilute current shareholder value.

IMO, IceDrill worrying about the trading platform is entirely pointless as who would want to purchase assets that are not only guaranteed to depreciate in value quickly, but also with no apparent plan in place.

Hi!, I made my account in cryptomex.io a few months ago and I didn't see my shares... I only see it in icedrill.io :/
Any suggestion?
Thanks

..you did use the same email address on cryptomex as on icedrill, correct? If so, then it's probably time to get in touch with Will.

I just registered my account on CryptoMex with the same email address I left in Icedrill. So, I need to wait another 2 weeks to get my shares in CryptoMex. Correct?

I guess the 2 week wait time for PU assignment wasn't a sarcastic response. I've been waiting 1 week myself.

[molecular]

Just did that. No assets show up.

Eventually, they'll show up.

give it about 2 weeks.

I just registered my account on CryptoMex with the same email address I left in Icedrill. So, I need to wait another 2 weeks to get my shares in CryptoMex. Correct?

that "2 weeks" things was a joke (bfl). seems I fail at joking.

[raskul]

Just did that. No assets show up.

Eventually, they'll show up.

give it about 2 weeks.

I just registered my account on CryptoMex with the same email address I left in Icedrill. So, I need to wait another 2 weeks to get my shares in CryptoMex. Correct?

that "2 weeks" things was a joke (bfl). seems I fail at joking.

some of us got it 

[Bananery]

At the time of launch, this was a lucrative fund.

No it wasn't. It was never lucrative. It was lucrative on paper and on assumptions the hash rate growth would be slow during the fall of 2013. Every bad investment looks good at some point especially if you believe unfounded promises and calculations. The way hash rate increased during those months only the best case scenario would make it barely profitable. So if they started hashing in November as promised, it would barely make profit.

Personally, I liked the aggressive reinvestment plan and the promise to repay public before private shares didn't hurt either. At the time the IPO opened, I don't believe anyone anticipated HF would be as late with shoddy equipment nor the shutdown of bitfunder (and the poor choice to go to cryptomex for accounting & trading)

Even though I don't completely agree with some of the decisions & actions, or appreciate the lack of communication, it's easy to throw Will and DeadTerra under the bus in this situation in which they really have little recourse but to react to problems caused by other parties. Tying IceDrill so tightly and exclusively to HF was a problem since our success then depended entirely on HF's success.

All of the losses in this case are because DeadTerra gave the money we paid to him to people he didn't know. It was out his hands and out his control. When you get millions of other people's money you have to be very careful with them. If it's out of your control and you trust someone else to do something for you, you have to know and trust those people. You have to go through their plan, all the details and goals. If something is not done right or delayed, you make sure with correct legal work you get reimbursed very quickly.

If for whatever reason he couldn't make a good legal deal or didn't know those people very well, he must have put a stop to the whole operation and return everything. That's what an honorable man should do. When you take other people's money be very careful what you do with them.

He didn't. He trusted those people whom he barely knew with 24,000BTC. At that time it was over 2.5 million dollars and that was enough to produce own ASIC, including design, wafers and chips. 2.5 million dollar was enough to produce own ASIC on 65nm.

I thought DeadTerra learned from previous mistakes and knew what he was doing so I invested 5BTC. Turned out he is still an idiot. I started worrying when he defended his unrealistic calculations in September and October but still hanged hoping they would deliver. Now I know it was a mistake to trust him with my bitcoins.

[pedrog]

So, Ice.Drill becoming a franchise mine may be a way out of this mess.

@Will, are considering this option?

[dropt]

I thought DeadTerra learned from previous mistakes and knew what he was doing so I invested 5BTC. Turned out he is still an idiot. I started worrying when he defended his unrealistic calculations in September and October but still hanged hoping they would deliver. Now I know it was a mistake to trust him with my bitcoins.

+1

You can add untrustworthy to that list too.

[Hoofprint]

its be come painfully clear that terra and will have cut their losses and run with the remaining BTC

[TheSwammi]

its be come painfully clear that terra and will have cut their losses and run with the remaining BTC

I'm beginning to think this is truth.

[stevenroose]

its be come painfully clear that terra and will have cut their losses and run with the remaining BTC

I'm beginning to think this is truth.

I think most of us know this for quite some time already.