Thank you very much, this explains it. I had no idea blockchain.info had an "advanced mode".

I might be a retard, since noone has asked this question yet, but how is this an example transaction? All I see on your linked transaction is a single amount of 0.2993 BTC transferred from an address to itself. At first I thought that maybe blockchain.info consolidates identical outputs, but even then — 0.2993 is not even a multiple of 0.13117745. I don't see TWO outputs, I don't see the specified amount — for me it seems to be just a random transaction.

Could anyone explain to me what I am missing here?

Also, you said you will also accept two transactions of the specified amount "in the same timeframe". What is this timeframe? A minute? Same block? A century?

Thank you in advance and I'm glad this thing finally seems to be moving forward.

So, "late this week" has passed, as has "early next week". Where are the "Rewards payments (previously known as dividends)"?


Another question, which has been asked multiple times, but hasn't been answered — how are the PUs differentiated between public and private? Remember that, as per original agreement, private shares are not eligible to receive any dividends until public investors have received at least 0.0016 BTC per share.

Hello!

Summing up the "MHS av" columns from the minestate site, the hashpower totals up to 146 Thash, which is roughly 62% of the target. Not sure if this has been asked/answered already, but when can we expect the rest of the hashpower to go live?

Also, what does "MHS5 av" column mean? The numbers there are generally lower.

I partly disagree, Eisenhower34.

Although you are right that posts like "we have nothing new to say, everything is under NDA and we are working on X to provide you with Y" are useless, there are some things that the management could and should provide to us investors.
At the very least, a regular update of something like this —
"We currently have [integer] sierras hashing with the total hashpower of [number]. We are expecting [integer] more sierras by [date]. We have currently accumulated [number] bitcoins, amounting to [number] of BTC per share. We expect to, but not guarantee, to pay the first dividents on [date] when the revenue per share reaches [number] BTC. When our mining gains reach this number, we expect to have the 25% of the gains for future expansion of [number] BTC, which we plan to invest with [manufacturer] in the future, although our chosen manufacturer might change depending on the circumstances. We are working on an automated system to provide these details to shareholders in real-time, but until that happens we will make periodic updates in this thread."

I don't think that is too much to ask. I have invested, for my financial situation, a very significant amount of money in this operation. I don't think anyone has any delusions of having massive short-term returns from this, so I think most of us would want to at least have some clarity of what we can expect. Right now it is not clear at all — 1 BTC investment could turn out to return just 1 mBTC in the forseeable future, or HashFast might be giving us 100x hashpower for our delay for all we know. I fail to see how this silence could benefit anyone — investors or managers.

Did you even read the article you are referring to? It states clearly that the "hack" was performed by infecting PCs with key logger. I suppose everyone here knows what a key logger is - it has nothing to do with the actual services for which the passwords were stolen.

Hi all, hi dnaleor!

I'm the owner of todays vote. Seems like it's not a bad bet, although this being saturday, the market might be slower as in workdays.
Wish me luck!

And dnaleor, regardless of the results, make another interesting guessing game like this

Just to inform — I was also unable to log into both WeE and BitF earlier, but a few hours ago I was able to log into both of them and withdraw ~2 BTC from BitFunder to WeExchange, and then to my wallet. The transaction went through faster than I could say "Gee, I hope these funds don't go into limbo" (and I was trying to say it pretty fast).

I think this is a very interesting project, but I don't think this can be calculated so easily.

The thing is, as we know, BTC price against fiat fluctuates very much. If I had, for example, bought shares for 1 BTC when it was worth $10 and gotten 0.5 BTC out of it when 1 BTC was $100, this would technically be a 50% loss, yet it would be almost 400% gain if we take into account the buying power of the returned profits. The same is true the other way around — if I invested 1 BTC when the price was $266, and got back 2 BTC when it was worth $100, it would technically be a positive return, but it would still be negative in terms of buying power.

While I agree that the BTC rate should not matter if I bought the shares for BTC, this is simply not the case. Most securities have to convert investors BTC into fiat in order to do something. Therefore, investing into most BTC securities is the equivalent of trading your BTC for fiat and investing said fiat in the company.

For example, if a mining company fails to meet their goals because of a supplier, and wants to get a refund from them to initiate a buy-back in the benefit of their investors, they will still, at most, get back the fiat equivalent of BTC they spent at the moment of spending.

Someday (hopefully soon) upstarts will be able to buy the stuff they need with BTC, and the providers of that stuff will be able to pay in BTC to their suppliers, workers and everyone else. Then the conversion rate will not matter much and, most likely, it will also not fluctuate much. Until that happens, investing into most securities is still basically selling your BTC and investing fiat into the upstart, even if it doesn't seem so.

Don't get me wrong, I'm not saying securities shouldn't strive to be profitable in BTC, as long as they are profitable in fiat. I am just pointing out my opinion that, in the big picture, it is the actual value, or buying power, that matters.

Will, great thanks for the information!

Do I understand correctly that hashfast deliveries will also be from Canada, so any possibility for shipping/customs delays are almost non-existant? (possibly even an in-person pickup once the devices are ready)

Being a sysadmin myself and managing a datacenter daily, I find this project very interesting, regardless of the fact that I am also a shareholder. It would be very nice if you made some documentary videos of the installation of the hardware etc. But that, of course, is up to the mine operators.

Will or DT,
As indicated in the second post:


Since it is already the second half of October, could you please confirm that everything is going according to plan? Is the physical mine location ready for chip delivery? Can we get some more detailed information, for example the country, funds spent on mine construction etc.

Thank you in advance

Thank you for the clarification. I hadn't noticed these were also public shares and was under the impression that they were private.
Although I do agree that this is not worth making a fuss about, as an investor, I would be much more comfortable if the amounts and discounts needed to qualify for the "block sales" had been made public at the very start. After all, I might have qualified for a slight discount if I had asked.
Still, this is not meant as a serious criticism to Ice Drill managers. Being involved with enterprise level devices, I know it is quite a common practice for an entity to offer volume discounts only when asked for them or when said entity expects the customer might choose a competitors product, because of a better price offer. There exists such thing as a "list price" for a reason.


Yes, I do assume that. But this is irrelevant to my reasoning. In the case of the mine not generating enough returns to pay the 0.0016/share, the public investors would get at least some of their money back. The private investors would get exactly 0.0 satoshis per share. That still seems to be quite in favour of the public investors.

I fail to see how this would count as a scam. First of all, the fact that there were private investors was known and not hidden at the start of this offer. Secondly, the private shares are not the same as the public ones - the private shareholders don't receive any profit until the public shareholders will have received 0.0016 BTC per share. In other words, the public investors will get much more hash power than they have paid for, until they will have received full ROI. After that period, they will still get the hashing power they paid for. The situation couldn't be much better for public investors.

Disclaimer - I own (public) shares

Yes, it has been reduced as said here by DT:


I'm also interested, as others have asked, if more shares could be released after these (up to the original limit of 12 million)? It seems to me very likely that the shares will be sold out before deadline.

As a satisfied previous investor in Gamma Bitcoin Fund, I didn't need much convincing to invest in IceDrill, seeing as it's fronted by DeaDTerra, so I am now an investor in IceDrill as well.

Still, I had a few questions, most of which have been answered already. The one that I haven't seen answered or asked, is:


Seeing as there are no management fees and it has been said that all of the funds raised by IPO would be used for the benefit of the mine (as opposed to part of it going into the pockets of the founders), and that no consultation fees would be paid out to them, this makes me wonder — what is the incentive for them to do all the work? I understand that most of them are also shareholders, possibly having bought their shares as "private investors" for a discounted price (I am not implying there is anything wrong with that), but what is the incentive for DeaDTerra specifically, since he has stated that he is not a shareholder? It would seem odd if he was to spend his time (and a lot of it, judging by the size of this project) to manage all the assets just for the good of investors or BTC network, without receiving any direct benefit. Am I missing something here?

I am at work now and my yubikey is at home, so I cannot access Mt. Gox. Will have to wait a few hours until I get home.

This is wrong. I can now happily confirm that today I received my EUR SEPA transfer, after waiting since June 9th. 
Makes me feel relieved.

My withdrawal status changed from "confirmed" to "pending" a few days ago, so pending probably means it's on it's way across banks.

I hope so. I will keep people updated when (if) my funds arrive.

Interestingly, after the conversation with support (see a few posts above), the status of my withdrawal has changed from "confirmed" to "pending".

I don't remember the sequence of withdrawal statuses, but isn't it usually "pending => confirmed => processed" ?

I also didn't receive any new updates on my withdrawal ticket this week. However, I just managed to catch live chat support.
TL;DR — he claims that SEPA EUR and PLN withdrawal backlog is at 1st week of june and that USD withdrawals and international wires are going "a bit slowly", but should be back in full speed within a week.

I have removed the irrelevant parts from the log:



Of course, I cannot be sure about the accuracy of these claims. Just sharing what info I got.