You seem to have a rather tenuous grasp of finance.  IceDrill shares were purchased with BTC, the exchange rate of BTC/$ is irrelevant.  If you bought a plushy at a One & Dime  for $1, and tried to return it for $2.00 by claiming that "the dollar now buys only half as much bitcoin as when I bought this plushy," the nice checkout lady would tell you to GTFO.  Justly so.

As far as "what financial crime":  The crime of selling unregistered securities to US persons by a US-based unlicensed exchange.  US SEC has jurisdiction.  That should get you started.

If you'd like to haz moar learnings, don't hesitate to ask

If I wanted to invest in Hashfast, I would purchase directly from them, AND get covered by their Miners Protection..
Icedrill is overvalued and to be polite about it, a complete  ripoff.  

We are losing track of the issue that concerns people most right now. Many shares have been sold @ bitfunder below the official IPO price of 0.0014 BTC and are flooding the market now, causing a price drop and a loss for everyone who bought shares for the official price.

Either this has always been part of the plan or an unfortunate and never intended event, but we need a fix.

Either a buy back wall @ 0.00138 BTC or a prohibition to sell shares before IceDrill starts mining for those people who bought before the IPO would do the trick for us.

It wouldn't make much sense to invest in their own 28nm chips, the NRE for quick tape-out/fast chip produce is around 5M.

Eventually because of the insane competition in this marketplace come January, you'll start to see the price of mining rigs hit very low prices <$5 and then the next batch will be <$2 and by the time ice.drill would have had their own chips, the price per GH will be so low ESPECIALLY for bulk wholesale buyers that the cost savings in developing their own chip wouldn't be worth the time/effort/cost.

The only reason it got that far was cos "Privet investitors" aka themselves bought most of the imp shares to trick people into investing, hoping there will be panic buy for the last shares.

Good find, I am interested in this as well.

Will def. keep watching this thread..

The shareholders getting paid 0.0016/share before private investors effectively acts as a thick credit enhancement on a CDO, right? Sorry, I am just trying to wrap my head around whether this is a good investment or not.

Sorry for my bad math. If private shares is 30% , you are somewhat getting something like extra protection with 7:3 ratio (ie. for every public share, you get extra ~0.43 share that helps to pay your principal back). then instead of buying at 0.0016, it's more like 0.0016/1.43 (initially before private investors get paid). that's close to 0.0012/share? that sounds like a steal to me. or am I smoking crack?

i don't think Icedrill has miners protection program (since it was not stated anywhere) but I think this 'credit enhancement" is way better than miners protection program. What's the point of hosting more hardware if hosting cost would not operationally break even?

I believe IceDrill has Miner Protection.

If they don't make 100% ROI within 3 months. November - December - January, then they will give them up to double or four times as many chips as originally purchased in order to make their ROI. It will only be chips though.

That combined with shareholders getting paid 0.0016/share before private investors should make this a fairly safe bet (If you trust DeaDTerra and HashFast)

It's going to be a long wait though!

Well fuck me sideways!!   

28nm, AMD 不走這條路 ..... Intel Ivy Bridge / Haswell 22nm

他們死定??

evoorhees, I've actually been thinking about this for a long time and have been trying to figure it out.  It seems to me the hardware suppliers are controlling the share price.  The share price works out to be $14/GH.  The BabyJet works out to be $14/GH.  This, I believe, is not coincidence.  HashFast wants both the BabyJet and the IceDrill hardware to sell in number equally so they maximimze profits.    I belive they have contractually negotiated the IceDrill IPO share price to be equal in $/GH to the BabyJet $/GH.  No company wants to compete with themselves which is just stupid.  So HashFast is only the true winner in this game and not IceDrill.  HashFast is pricing their hardware as close as possible to their nearest competitor while still remaining competitive and making a tidy profit.

However, I still believe in HashFast and I believe in them.  As long as they have superior hardware, which they do, they will continue to be relevant.

I can without a doubt say that the money this IPO is raising will easily pay for the chips that DeaDTerra plans on getting from HashFast.

Deprived,

I am convinced IceDrill is a shitty PMB in a thinly veiled disguise of an ASICMINER clone. Basically they are selling future hashes at a fixed price, and forcing people to reinvest 25% of mining profits in more hashing power at a price the issuer controls. It's basically a PMB guaranteed to only make money for the issuers, and their hardware suppliers (if they aren't secretly one and the same). The difference between this and a run of the mill PMB is they plan to mask some of those losses by having a depreciation timeline that's been stretched out a bit, so it takes a little longer for it to become apparent that it is a money losing investment.

Best as I can tell, this investment will only make money for the issuers, their hardware suppliers, and perhaps a few flippers, if the issuers aren't too aggressive about issuing more shares too quickly. (Bear in mind they are allowing themselves the right to issue an additional 20,000,000 shares after the IPO sells out, so be careful trying to flip.)

I will say, it's really ballsy in the scale they are doing it at. It's also kinda scary that they have a bitcoin-assets exchange operator backing it. (Ukyo). I'm also very sad to see DeadTerra and Ukyo frittering away any goodwill they had left, for a relatively short term naked money grab.

-helixone

P.S. - Best as I can tell this asset is being setup to create a captive buying group for the "HashFast" ASIC producer, as well as suck up as many coins as possible out of the bitcoin-assets marketplace.
P.S.S. - It's a times like these I really wish that there was margin/shorting on the exchanges to keep crappy behavior like this in check. (This security, ActiveMining, Labcoin, BTCgarden and perhaps even ASICMINER could all use a healthy dose of very large shorting right about now.)

Is that true?

So far he hasn't confirmed that all funds raised from IPO are being used to the benefit of investors - so it's not clear yet whether some of the IPO funds ARE going to DeadTerra.  I'm not claiming that he IS going to pocket some of the IPO funds - just pointing out that he hasn't yet clarified that detail.

EDIT: There wouldn't be anything 'wrong' with a cut of IPO funds being taken - but it would mean your statement was wrong.  The impression a quick read of the contract gives is that it's shares/revenue share in a company being sold.  But closer examination suggests it may actually be a PMB that charges expenses and reinvests (compounding profit OR loss) - with any benefit of cheaper prices from large-scale purchase not actually being passed through to investors.  If ALL funds raised from IPO are staying in the company and being used for the benefit of investors then your comment is true - and it's a decent offering.  I'm not convinced that's the case - but obviously DT can clarify if he chooses to and hopefully I'm just reading too much into what wasn't stated.