Someone is making a lot of cash with IceDrill.ASIC...

[stevenroose]

As you can see here, some one bought 2,142,857 IceDrill.ASIC shares at 0.0014 BTC, IPO price:



And currently he is selling them all for 0.0015 BTC



A quick calculation, considering the 1% BitFunder fee, gives a decent 182 BTC, or 6%, profit for a short-term investment of 3000 BTC...


Any guess who made this purchase?

[E.Sam]

He's the private investor

[iCEBREAKER]

OMG do you even IPO?   

If you don't understand, don't invest.

Focus on your offline hoard and not securities.

Or at least bother to read the prospectus before asking ridiculous questions.

[CMMPro]

First....it was all bought by the fund holder in order for everyone to shut up about the IPO failing.

Second, you would never sell all that without taking a haircut, the liquidity just isn't there. 

What they likely hope to do is hash it in bit by bit until it is completely absorbed.

I'm sure it is their own bitcoin anyway...so it's just like extending the IPO for a few weeks to make that 2m shares turn into bitcoin.

[pedrog]

Well, this was funny!

[pascal257]

As you can see here, some one bought 2,142,857 IceDrill.ASIC shares at 0.0014 BTC, IPO price:



And currently he is selling them all for 0.0015 BTC



A quick calculation, considering the 1% BitFunder fee, gives a decent 182 BTC, or 6%, profit for a short-term investment of 3000 BTC...


Any guess who made this purchase?

You should not forget that there is risk involved (i.e. btcgarden). If they call off the IPO and you invested 3k BTC, you're f!@#%ed

[CMMPro]

Not if it is your own money.....you are just taking shares out of one pocket and shoving bitcoin into the other.

I think there should be some final accounting / wind-up guidelines for IPO's or funds that fail....I think we are going to see a bunch of these in the near future.

[stevenroose]

He's the private investor

Private investors get their shares outside BitFunder. It's called an IPO for a reason...


Well, I didn't see that the time limit for the first 14.5 million shares was yesterday. So it could be the issuer himself to ensure success of the first batch. However, if the second and third batch do not do well enough, he can be screwed by this.

I suppose issuers only get the whole sum after the whole IPO succeeds...

And,

OMG do you even IPO?   

,
this is my first Bitcoin IPO, yes, a problem with that?. I own other stocks as well, but bought them after the IPO was finished.

[iCEBREAKER]

My friend, welcome to the extremely risky, occasionally obscenely profitable, but ALWAYS exciting and entertaining world of BTC finance, securities sector.

I have no problem extending to you a warm welcome from our zany little club, provided you don't have a problem doing this:

at least bother to read the prospectus before asking ridiculous questions.

[stslimited]

He's the private investor

Private investors get their shares outside BitFunder. It's called an IPO for a reason...

Public and Private both start with a P

[iCEBREAKER]

What if I told you

Public and Private both start with a P?