How can this friend successfully ipo?

[thy]

My friend works at a "big" University, and he has been responsible for a "big" cluster for years.

About 1 week ago, he knew digital coins from me and start to use that cluster to mine Altcoins and sell it for about 1---3 bitcoins every day. That means, no cost. 100% profit.


He want to ipo at cryptostocks or other sites. Because he thinks digital coin is a great opportunity so he wants to get much money (about 300 BTC) earlier to start bitcoin related business.

But he is uncertain if he can IPO successfully. Especially he can't give out his personal information to Public. So, how can people trust him?

He mines in the pools of altcoins, so every one can monitor the hashrate. He also can distribute the profit every day.

If he starts IPO, will you buy?


Similarily, in China, many people can use free electricity. If they use it to mine, and want to IPO, will you buy?

So, I suggest that he should wait 100---300 days to get enough bitcoins himself.

What would be the meaning of IPO?? :D:D Why he would need to raise money as he has no running cost and no possibility to scale(he doesn't actually own the mining hardware nor server rooms).

This is just pure ignorance or scam preparation.

What he owns is the right of control these machines. There are also many people in China who can use free electricity for decades.

Someone felt such actions are "theft", But in China it's very common. And to some extent it's well accepted by people morally.

(Nearly) All universities belong to Government here, and all electricity belongs to Government.

If you intend to do an IPO on Cryptostocks you have to give out your personal information, why exactly do you claim he cant give out his personal information when you claim he has the right to use the equipment for this purpouse ?

Why does he need to do any IPO in the first place when he already have the right to use and access to the machines generating him the profit already ?

[1715339994]

1715339994

[1715339994]

1715339994

[zy02264]

What would be the meaning of IPO?? :D:D Why he would need to raise money as he has no running cost and no possibility to scale(he doesn't actually own the mining hardware nor server rooms).

This is just pure ignorance or scam preparation.

What he owns is the right of control these machines. There are also many people in China who can use free electricity for decades.

Someone felt such actions are "theft", But in China it's very common. And to some extent it's well accepted by people morally.

(Nearly) All universities belong to Government here, and all electricity belongs to Government.

I feel mortified to see you say "And to some extent it's well accepted by people morally". Please do not say it before you get solid evidence to support this argument. From my point view, at least, theft is theft.

[nwfella]

Ask yourself this.  If somebody offered to let you in on an IPO to do essentially what amounts to a computational bank robbery would you invest in it?  I would recommend your friend cut out the funny business and take the 1-3 bitcoins he earned hijacking cpu cycles, develop a workable concept and invest his/her mined coins in that, i.e. getting listed on an exchange.  I mean, how hard was it for him/her to dedicate a cluster of systems to mining a few coins for a time?  If he's/she's legit, and wanting to IPO something legit you would think they at the very least could risk the free coins.

BTW, I would recommend they put the keibosh on doing it too, more than likely gunna catch him/herself a case if they keep it up with the funny business!

[Ron~Popeil]

This "friend" needs a business plan and financials. Any serious investor would need to see both of those along with a legitimate business plan and a valid reason why their funds are needed.