Post
Topic
Board Securities
Re: [BitFunder] IceDrill.ASIC IPO (235 Thash Mining Operation powered by HashFast)
by
WillMilk4Coin
on 16/10/2014, 04:50:31 UTC

The project is currently undergoing financial consolidation.


Talk about poor decisions mating with bad luck and having an ugly baby. To argue now that putting all your btc in one HF basket was a bad idea, or exactly when shareholders agreed to funding the development of a pool, or the feeling of being mislead in that a reasonably priced hosting contract had already been secured at IPO launch -or at least why a query for a facility wasn't put out to invested parties when failure was realized is all now moot, however disgustingly frustrating it is. As somewhat concerning our point of contact shifting to some surprise anon may be, the update you've provided is very appreciated. So thank you for that.

Quote
~In July we were told ID had accumulated 720 bitcoin. Now, we've got a brand new address with a balance down nearly 200 bitcoin from just over 2 months ago. Not to intentionally sound like an a**hole, but appropriately maintained funds? The machines were still on, yes? I guess this isn't so much of a question, but I expect this sanitized audit will shed some light on who we've been paying and why our balances are going down?

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Thus, the equipment is currently migrated towards a low-cost mining environment and is expected to yield a positive cash flow for the remainder of it’s existing lifetime.
~Are the machines currently in this new facility -or in the process of being moved? What is the anticipated remaining lifetime?

~Will distributions be withheld until the audit is complete and the HF bankruptcy comes to a resolution?