tianrui81317



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MemberActivity: 116Merit: 10 How can this friend successfully ipo? July 21, 2014, 11:47:05 AM #1 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.



JoTheKhan



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Sr. MemberActivity: 378Merit: 250 Re: How can this friend successfully ipo? July 21, 2014, 12:34:15 PM #2 Quote from: tianrui81317 on July 21, 2014, 11:47:05 AM 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.





(Hint: He can't be trusted.)



He mines with the University's system? If this is true. He is a scumbag. I hope he gets caught and they arrest him.



Edit: Nothing is free, if you're not paying for it and you're using it to mine. Someone else is paying for it. If you're morally ok with that then you're probably morally ok with fucking over your investors when shit goes south. Which is a very common thing here. I don't think your friend will do well IPOing here. (Hint: He can't be trusted.)He mines with the University's system? If this is true. He is a scumbag. I hope he gets caught and they arrest him.Edit: Nothing is free, if you're not paying for it and you're using it to mine. Someone else is paying for it. If you're morally ok with that then you're probably morally ok with fucking over your investors when shit goes south. Which is a very common thing here. I don't think your friend will do well IPOing here.

twentyseventy



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LegendaryActivity: 1386Merit: 1000 Re: How can this friend successfully ipo? July 21, 2014, 01:15:03 PM #3 Quote from: JoTheKhan on July 21, 2014, 12:34:15 PM He mines with the University's system? If this is true. He is a scumbag. I hope he gets caught and they arrest him.



Edit: Nothing is free, if you're not paying for it and you're using it to mine. Someone else is paying for it. If you're morally ok with that then you're probably morally ok with fucking over your investors when shit goes south. Which is a very common thing here. I don't think your friend will do well IPOing here.



Yeah, clearly this is a bad idea. He's making (stealing) money here - what does he even need to IPO for? Yeah, clearly this is a bad idea. He's making (stealing) money here - what does he even need to IPO for?

ondratra



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Sr. MemberActivity: 350Merit: 250 Re: How can this friend successfully ipo? July 22, 2014, 03:08:17 PM #12 :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 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.

tianrui81317



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MemberActivity: 116Merit: 10 Re: How can this friend successfully ipo? July 22, 2014, 03:25:57 PM #13 Quote from: yakuza699 on July 21, 2014, 01:48:02 PM Okay lets say i invest 1btc in him and then what how he's going to use my btc? To buy more miners or what?



Absolutely can't buy more miners and similar things. What he want to do is to start new bitcoin businesses like changetip and so on. And to be honest, I felt like that he only wants to use others' money to invest in Bitcoin business to gain further success, instead of using his own money earned from mining.



Absolutely can't buy more miners and similar things. What he want to do is to start new bitcoin businesses like changetip and so on. And to be honest, I felt like that he only wants to use others' money to invest in Bitcoin business to gain further success, instead of using his own money earned from mining.

tianrui81317



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MemberActivity: 116Merit: 10 Re: How can this friend successfully ipo? July 22, 2014, 03:30:33 PM #14 Quote from: ondratra on July 22, 2014, 03:08:17 PM :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 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. 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.

tianrui81317



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MemberActivity: 116Merit: 10 Re: How can this friend successfully ipo? July 22, 2014, 03:34:01 PM #15 Quote from: Anotheranonlol on July 22, 2014, 02:55:00 PM



http://www.paratera.com/al_detail/newsId=34.html



Easier for him to just keep the BTC if it is such a profitable venture that he expects to last

Your friend not the first person to try thisEasier for him to just keep the BTC if it is such a profitable venture that he expects to last

Yes he is not the 1st. We all know there are many people in China doing such things.



If one has such previlege, it's nearly no reason that he won't do such things. Because he has nearly no risk and great profit.

Also, if his friends know he is doing such things, they will not blame him. Yes he is not the 1st. We all know there are many people in China doing such things.If one has such previlege, it's nearly no reason that he won't do such things. Because he has nearly no risk and great profit.Also, if his friends know he is doing such things, they will not blame him.