[PicoStocks] CoinTerra [coint]

[tytus]

PicoStocks has decided to expand its shares portfolio and purchase shares from CoinTerra Inc. Users interested in evaluation and revenue sharing are invited to place bids on the PicoStocks platform until 2013-10-07 24:00 CET (today midnight, Central European Time).

About CoinTerra (http://cointerra.com/)

CoinTerra is at the stage of tape out of a 28nm chip for BTC mining (Global Foundries, 28nm HPP node, FCBGA Package, 1.4GHz clock frequency yielding a minimum of 500 GH/s per chip, operated at 0.765V). The first products based on this chip will be shipped in December. Current value of the company is estimated at 20M USD (pre-money valuation). The company has 16 425 293 outstanding shares. The company offers shares at 1.2176 USD per share, which was translated to 0.01 BTC.

IPO* page: https://picostocks.com/stocks/view/31

[maxmint]

What is this - some kind of pass-through? Are you paying dividends?
I thought Cointerra was privately funded, so where are these shares coming from?

Please give some more details or risk to be branded as scam (which seems to be already happening).

[001sonkit]

What about https://bitcointalk.org/index.php?topic=306930.0?
Why is there no mention of it on CoinTerra.com?

Only Explanation is that this one is a TerraPhish

[Zakryze]

Please do the calculation again :-) shares are at 1.2176 USD per share
We can buy 800k shares out of in addition to 16M.
=> can be even a negative margin if BTC drops.

So you do not have the shares right now? I don't understand.
Please state some clear numbers.

There are only few numbers that You need.
Total outstanding shares before Round B: > 16M.
Price per share: 0.01 BTC minimum.

The BP is at least 2 months old. I am sure this is a mistake in the BP :-)
Also , you could view this as achieving 33% by people who buy CoinTerra hardware.

What the fuck.
And people are supposed to invest with that kind of info that you already state as outdated and basically "could be wrong"?

:-) I am sure, if You look around, You will find even more contradictory statements. You have to use Your judgement.
For any statement regarding CoinTerra, CoinTerra is the most reliable source. You can always contact them for any additional info, but You know that there are limits what a company can and wants to disclose.

Are you driving a Dodge?

[MPOE-PR]

IPO* page: https://picostocks.com/stocks/view/31

*Where IPO means I'm Pretty cOnfused.

[dexX7]

Can you get a CT team member here to confirm this listing?

[dexX7]

Can you get a CT team member here to confirm this listing?

Push.

This stuff is live and trading. If it's scam, it needs to get delisted ASAP and if it's none, now is a good time to end the rumors.

[Deprived]

:-) I am sure, if You look around, You will find even more contradictory statements. You have to use Your judgement.
For any statement regarding CoinTerra, CoinTerra is the most reliable source. You can always contact them for any additional info, but You know that there are limits what a company can and wants to disclose.

You're the one trying to run an IPO - it's YOUR responsibility to provide sufficient information to potential investors for them to conduct due diligence and make assessments of the likely profitability or otherwise of investment.

If a company won't disclose sufficient information then they shouldn't sell shares to the public - which may well be why they aren't, in which case it's as clear evidence as you could get that a pass-through is a bad idea.  That's due to the end result being some market participants having less information than others which isn't conducive to a well-formed and fair market.

This is a classic example of what's badly wrong in the BTC 'securities' market : all you're doing is selling on something (that you don't even own) at a markup without even the decency to provide proper information about what is being sold.  At least all the scammers reselling mining hardware at a massive markup (when it wouldn't even be profitable WITHOUT the markup) properly describe what it is they're selling.

[Sou]

No point in providing "sufficient information" if people are willing to bid anyway - that's just extra work. They seemed to have managed to collect a fair amount of Bitcoin.


Good luck to PicoStocks and all of it's invester!

[Zakryze]

I wont invest here due to the small "clarification" needed. TT so many fishy ponzyinvestments lately ....

[MPOE-PR]

No point in providing "sufficient information" if people are willing to bid anyway - that's just extra work.

Bejesus. This deserves preservation for the inevitable Museum of BTC Idiocy.

[pedrog]

Amazing company?

[HeRetiK]

Amazing company?

too soon

[superduh]

cointerra seems a lot more appetizing at 7 million valuation than at 20 million. although 20 million could still be a potentially good deal. who knows anymore

[Dexter770221]

Aaaaaaaaaaaaand is live....

[kaerf]

here's picostock's proof of ownership of shares. https://picostocks.com/files/31/cointerra.pdf

Please be reminded that the shares may not be publicly resold.

Reminder to buyers that you're buying shares of dividends, not shares in the company.

https://picostocks.com/pages/faq

Do I own assets I buy on PicoStocks?
No. In general, PicoStocks remains the legal owner of the assets. You can sell the asset to other PicoStocks traders to disinvest. However if You own a large fraction of the shares of the asset traded on PicoStocks You can contact the IPO office to discuss the option to delist the shares. PicoStocks can sell shares to other parties as part of it's business model. A 2% fee will apply in this case.

[HeRetiK]

soooo... with the business plan being outdated and removed, what is the current business plan? What is it that people are buying here? Profits from Cointerra sales? Future Cointerra hashrate?

[Dexter770221]

... Future Cointerra hashrate?

I think this. But nobody heard that cointerra want to mine. And posses 30% of network.

[Conspiracy theory mode on]

Sales of bitfury chips will go down very soon. Tytus will still produce boards and sale them to that "cointerra" mine. Since he managed to sell only 362k shares from 16M that's equals to 0.75% of total network hashrate. He may easily maitain that percent taking 50% of profits (that was in bussiness plan income 25M expenses 11M). This way he may sell chips (that will become obsolete technology in next two months) for few years. Clever?

[Conspiracy theory mode off]

[HeRetiK]

... Future Cointerra hashrate?

I think this. But nobody heard that cointerra want to mine. And posses 30% of network.

Assuming the (now removed) earlier business plan was legit, this might very well have been one of their initial goals. Remember, Cointerra didn't enter the scene until quite a while after they collected investment money from the likes of Picostocks. However the question is - where do they stand now?

[kaerf]

We believe that the best companies in the industry can do is be transparent to the customers and this is something we intend to be.

https://picostocks.com/businessplan/31

 

We will be communicating more information on the Picostocks listing. In short I can say that the Picostocks listing is not CoinTerra as a corporate entity selling shares but rather Picostocks as a company investing in CoinTerra and selling a form of pass-through ownership. We have a conversation open with Picostocks and will be making a clarifying statement regarding this.

I'd like to see cointerra's input on this.

Of course no one in the ASIC industry can make any guarantees when it comes to ROI times etc. However, looking at diff increases historically and the ROI of CPU/GPU and first gen ASIC we foresee that our miners will indeed have quite a long time of very healthy ROI on arrival.

The basis for this is not primarily diff increase speculation but the fact that diff as a function follows the general rule that people will mine until their miners simply are not profitable any longer. We can see this in the plateau in the technological shifts so far and there really is no reason to expect a different behavior with Gen 2 ASIC. Meaning that when 28nm in this case becomes the 'standard' for Bitcoin mining, both GPU (already happened to a large extent) and Gen 1 ASIC will be forced off the network as a result of no longer being profitable.

What we expect here is that the dominant technology will be the best Gen 2 ASIC from a hash-rate/power consumed standpoint, and until Gen 3 ASIC hits the market these miners will provide ROI.

As CoinTerra produces ASIC with what is currently slated to be the most profitable hash-rate/power consumption calculation, we are confident that our miners will provide ample ROI as the leading technology for mining Bitcoin quickly and with low power consumption.

Sorry for the wall of text.

The CoinTerra Team

The problem is.... you see.... your customers will be COMPETING with YOU/YOUR TEAM in mining as well (so being the most efficient hardware is pointless) Guess who will have the upper hand?

If anyone here dont see this, they deserve to lose their bet.

We are not planning on setting up any form of mining operation before we deliver hardware to our customers. We also plan on offer very competitive hosting solutions allowing our customers to push our miners ROI as far as possible.

The CoinTerra Team

I never said you will have mining operation b4 shipping. As long as you have plan for a mining operation during shipping or even afterward, you will be competing with your customer. So your estimated ROI for your customer is MOOT.

Its also a conflict of interest.

Either you're purely operating as a hardware vendor for general public or you're not....(cant be producing hardware for your own mining operation or any private mining). Its very tempting because you can:
1. Fund your mining operation thro sales from your customers (oversold your products)
2. Having private deal with mining corps (oversold again)

Your customer got shafted either way.

Thank you for your input, and to clarify:

We do not have any set plans on running an in-house mining operation.

Our priority is and have always been to deliver the fastest and most effective Bitcoin mining hardware to our customers. I absolutely understand the logic behind your argument as this has been a subject of contention in the ASIC industry ever since the beginning, even in regards to burn-in testing on the test-net or on the live Bitcoin network etc.

We believe that the best companies in the industry can do is be transparent to the customers and this is something we intend to be.

Does Cointerra intend to pay dividends to investors from sales profits? At what intervals would those dividends be distributed?