Quote from: pedrog on August 26, 2013, 02:04:16 AM

Quote from: jimbobway on August 26, 2013, 01:52:58 AM

Money saved by forgoing the MPP may be used to purchase more hardware, if needed to fulfill ice.drill's 10MH/share commitment.

ID is a different play, at a larger scale, than a BJ or two.

Ok, sure. Some people can't afford babyjets at $5600 and I thought IceDrill would allow smaller players to invest. I can no longer recommend that. If you buy 8 babyjets thats $5600 * 8 = $44,800 which is a lot of money for a lot of people. Buying $44,800 of equipment that includes insurance guarantees seems to be a better deal than $44,800 of IceDrill.

Also, as the price of bitcoin goes up, currently at $112 at bitstamp, the IceDrill IPO is even less appealing than a baby jet.

$5600 * (1 BTC/$112) * (1 Share/.0014) * (10MH/Share) * (1GH/1000H) = 357 GH

So that means if you have $5600 USD you will only get 357 GH if you buy IceDrill shares. If you took that same $5600 and bought a BabyJet you would get 400GH. Of course bitcoin is volatile and it can go up and down. My next question is if bitcoin goes up what does IceDrill plan to do with those bitcoins? Because I imagine their contract with HashFast is in dollars. So if bitcoin goes to $200 will IceDrill get get more mining equipment? Or will the extra bitcoins be redistributed back to shareholders? Of do the private shareholders get to keep it? The IPO should state what would happen if the price of bitcoins go up (or down) since the HashFast contract is in dollars (I assume.)

Edited.

Buying IceDrill shares one does not have to pay electricity, keep the equipment running, if it brokes have to replace it, and so on...

It still seems a good deal to me...
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And the IceDrill folks promised to pay .0016 worth of dividends/share to public shareholders first. To me that's kind of a ROI protection program.
Void if IceDrill majorly screws up and destroys all invested coins somehow, or disappears of course...