Bitcoin Forum

What's up with mining companies and releasing forcasts that nearly always under predict the rate of difficulty increase?

6% Difficulty increase in a month? Seriously?

The difficulty increase is divided in stages:

• First stage is an increase of 65% up till december
• Second stage is an increase of 30%
• Third stage is an increase of 18%
• LAst stage is an increase of 6%

When you take 1 number to calculate the difficulty increase, for instance 30%, you would end up with impossible numbers.
(30% = difficulty of 4,749,627,852,593)

Will you provide a live "hashmeter" ?

So you wish to acquire $6.8+ million for this contract with cointerra?

No matter the facts you present and plans you speak of, this sum appears outrageous relative the prospectus.

However I have the ability to overlook things from time to time, what am I missing? And please, spare the $/gh outlook, this is BTCland. Far too many variables control this risk before I can see reasonable profit margins.

EDIT:

After reading your listing on BTCT.co you state the IPO is succesful if 30,000 shares at .65 are sold, yet in this thread you say the same amount sold are required but at an increased price point at .675. Which is it?

Furthermore, I saw nothing in PETA-MINE's details on btct informing of a specific percentage used to fund the reinvestment account. Not too mention, imho 35% seems a little high.

And the final whammy, with optimistic outlook, I've got to wait until December to start hashing?

The BTC-TC application is not editable.

Why would anyone pay $16K for 2Th/s when they can get 1.6Th/s for $5.75K??

But, Based on the information from cointerra they're only going to give you a 20% discount on your NEXT purchase and only if they ship late. So you have to plop down more money for the joy of having your initial batch delivered late. There's no guarantee of additional hardware to help recoup your investment.

by single-sourcing the chips, your supply chain is at the mercy of that single supplier, making you effectively no more attractive than any other of the many pure-mining plays. Since pure mining plays aren't all that interesting to me, I won't even think about investing here unless you differentiate yourselves by doing one (or both!) of the following:

1.) You become your own supplier of chips
2.) You sign a contract with at least one other chip supplier

We will initially deploy systems based on Cointerra's chip. Future deployment from reinvestment is not bound to a single supplier, this allows diversification as well as make the best decision in terms of price, scalability, ROI and time of deployment.

Cryptx. I noticed you took down the buy button on your website.  So we have to wait for btct.co now?

Seems like a pretty solid offering you are keeping costs low and providing a high amount of shareholder protection.

I do wonder about the somewhat high buy-in level.  Why not 1,000,000 @ 0.065?  Do you already have a split in mind?

Seems like a pretty solid offering you are keeping costs low and providing a high amount of shareholder protection.

I do wonder about the somewhat high buy-in level.  Why not 1,000,000 @ 0.065?  Do you already have a split in mind?

Update BTC-TC application:

We have now received 4 YES votes on our application, so one YES vote left before going live.

Update BTC-TC application:

We have now received 4 YES votes on our application, so one YES vote left before going live.

The IPO is just asking for way too much BTC, I have a feeling this will go the way of Hosted-Mining and end up DOA unless the initial price gets lowered and is replaced by some money from the actual founder in order to get his skin in the game.

The IPO is just asking for way too much BTC, I have a feeling this will go the way of Hosted-Mining and end up DOA unless the initial price gets lowered and is replaced by some money from the actual founder in order to get his skin in the game.

CryptX,

Is there any information on your team members other than what is posted on the www.cryptx.com website?  Also, I saw a post by cointerra wishing you luck on your IPO which isn't exactly confirmation of the partnership.  Do you have any confirmation of the Cointerra and Burnin partnerships that we can view?

Thank you, as I'm sure you can understand, the more information we can use to do our due diligence, the more investors you will have once you go live.

If you run the numbers, this is actually a very interesting value proposition.  There is plenty of room for growth considering they will be going live with 1PH when the network is forecasted to be around 3.5-4PH translating to an initial 20% of the network.

@ 20% of the network that's 800 btc/day * 65% for dividends = .0052btc/share per day or .0364/week (around 300%/year dividends over IPO price).

edit... As far as skin in the game, they have already stated they will be adding 20% hash rate out of their pockets with the dividends going 100% to investors until .65 is returned.

A few points:

-Surely having spent a fair amount of time around bitcoins and companies that deal in them, you cannot expect PETA-MINE to deploy on time.

-PETA-MINE does not have any additional revenue streams other than bitcoin mining. In order to maintain revenue, PETA-MINE would have to deploy an additional 20-30% of its total hash rate every 12 days. This equates to adding 200-300 Gigahashes the first time, then 240-390 Gigahashes the 2nd time and you get the picture. This is entirely non feasible given 35% reinvestment from mining alone.

-cryptx is as far as I understand not doing anything that any of us could not do. He is raising money in order to buy mining rigs - this is something that you and I or any average joe could theoretically do, so this is essentially a group buy with an extra fee.


These reasons are why I am skeptical of companies like basic-mining, cognitive, or peta-hash. It will be very hard to maintain any sort of network percentage and prohibitively expensive to keep up with difficulty increases. Real money is in making machines, not mining with them.

These reasons are why I am skeptical of companies like basic-mining, cognitive, or peta-hash. It will be very hard to maintain any sort of network percentage and prohibitively expensive to keep up with difficulty increases. Real money is in making machines, not mining with them.

I'm actually quite optimistic about deployment schedule.  Cointerra is unlike any chip manufacturer we've seen.  One look at their team and all doubts of their ability evaporate fairly rapidly.  If these guys can't deliver on time, no one can.

You are correct that anyone can do this, however you really need to scale up in order to effectively add new equipment with 35% reinvestment.  If the entire IPO is sold, and they go live with 20% of the network they will be able to add approx. 17TH/day via their 35% reinvestment. (assuming they are paying 100% retail, which they don't seem to be).

Imagine for a second the IPO sells out and they deliver mid December @ 20% of the network.  Now ask yourself what the btc/share price will be given there are only 100,000 shares.

You will be able to re-evaluate your position and sell for an incredible profit if you should so choose.  If they aren't keeping up with the network then you can bail.  This isn't till death do you part.

I am bullish on the profit potential, even if it might be for only a few months into 2014.

This.  There is a limited market IF the entity has an advantage over the retail consumer.  Access to industrial space at below market prices?  Signed a power agreement for interruptable supply at unbeatable rate <0.04 kWh?  Operating in a climate that reduces the need for HVAC?  Have a deal w/ manufaturer to buy initial and upgrade hardware at substantially (30%) less than retail?

Optimally it would be all of them combined.  A person who has access to couple thousand feet of warehouse space in Canada in a district where with an interruptable contract can get power at $0.035 per kWh and is being offered rigs at $5 per GH/s for Dec delivery.

Our vision is that to maintain a portion of the network, we have to take in all factors that contribute to reduce costs. Because of the scale of this project, we are able to get much better prices with manufacturers (chips / boards etc.) than retail customers and deploy hardware in an optimized location with low electricity costs. We will also be using our own mining pool (0% pool fee) that is optimized to improve communication with our miners for maximized hashing results.

In what range are your electricity costs going to be?

0.20 - 0.10 USD?
< 0.10 USD?

We are targeting < 0.10 USD / kWh
Even though our HQ is located in Brussels for administrative reasons, our operations are not limited to Belgium (Electricity rates in Belgium are in the 0.15 - 0.20 USD range).

If they aren't limited to Belgium, where else would they be? If you don't feel comfortable telling us in what country they would be hosted, would you at least be able to give us the EUR/kWH or USD/kWh of where the machines would be hosted?

The IPO is just asking for way too much BTC, I have a feeling this will go the way of Hosted-Mining and end up DOA unless the initial price gets lowered and is replaced by some money from the actual founder in order to get his skin in the game.

If you run the numbers, this is actually a very interesting value proposition.  There is plenty of room for growth considering they will be going live with 1PH when the network is forecasted to be around 3.5-4PH translating to an initial 20% of the network.

@ 20% of the network that's 800 btc/day * 65% for dividends = .0052btc/share per day or .0364/week (around 300%/year dividends over IPO price).

edit... As far as skin in the game, they have already stated they will be adding 20% hash rate out of their pockets with the dividends going 100% to investors until .65 is returned.

Imagine for a second the IPO sells out and they deliver mid December @ 20% of the network.  Now ask yourself what the btc/share price will be given there are only 100,000 shares.

You will be able to re-evaluate your position and sell for an incredible profit if you should so choose.  If they aren't keeping up with the network then you can bail.  This isn't till death do you part.

I am bullish on the profit potential, even if it might be for only a few months into 2014.

The future of mining is equipment selling. Bullish only a few months sounds like pump and dump.

It's locked. Why?

It's locked. Why?

Maybe it just says that when issuer gets the 5 votes, so it's now waiting for the issuer to hit the button.

I was simply trying to say that if they don't keep up with the hash rate with their reinvestment, you can always sell your position.  How do you pump and dump an IPO that has 65,000 btc worth of shares left to sell?

The first batch will consist of 50,000 shares. CryptX will sell these shares through BTC-TC at a fixed price of 0.65 BTC per share. The sale of the first batch will close when all shares are sold.

Hmm, at 2.5k initial shares this might not be such a bad investment.

However, the contract clearly states that there would be 50k initial shares - what has prompted this change and what do you plan to do with the other shares? I certainly dont want to invest believing the IPO is 2.5k when there is the possibility of another 97.5k being dumped.

2.5k is actually a reasonable offering, there is absolutely no chance that 50k shares will be sold for this IPO - just take a look at HOSTED-MINING for reference.

I'm confused by that too... The 100 purchase was me, not the issuer.

btw help me out a bit, do we really have to wait until December for hashing?

im afraid i cant wait, market and difficulty might swoop big time

Yes, this mine will be using Cointerra chips that will release in mid December.

The network will most likely be between 3.5-6PH by then.

I'm confused by that too... The 100 purchase was me, not the issuer.

The chips will be realised mid December if there are no delays. Then they need to be assembled. I'd say it will be lucky if they are hashing end of Jan.

How does 5 YES and 4 NO-es make it acceptable ? Such a weird thing... why are the NOes even there for then ?

hmm,

so we have to wait 3 month until they deploy?

i emailed him, no reply, so maybe you guys know more i think

It's actually 2 NO-s, but yeah, I'm thinking of protesting about this. On the other hand as an exchange one does not really have to fairly evaluate whether a company justifies its IPO price, the bottom line is just good faith and clear contract terms.

About profitability, ASICMINER blades now cost less than BTC0.4 per GH/s with much less waiting time, and even USB miners at BTC1.17 per GH/s would likely be more profitable than BTC0.65 per GH/s three months later. This IPO is a train wreck. It is much more professionally presented than many other mining companies, but shareholders are at a very bad position to earn their IPO money back.

edit: typos

How does 5 YES and 4 NO-es make it acceptable ? Such a weird thing... why are the NOes even there for then ?

For example, if CryptX ultimately deploys the mine after mid January, 2014, an additional 200 TH/s of power will be added to the PETA-MINE completely free of charge to shareholders, and each share will be entitled to 12 GH/s of hash power. If the company starts deployment after February 15, 2014, it will add an additional 20% on top of the previous 20%. In that case, each share would be entitled to 14.4 GH/s of hash power.

To justify the share price of 0.65BTC, this is for a guaranteed 10 GH/s (not 1 GH/s). We will also invest in an additional 20% or 2GH/s per share sold, all mining revenue from this additional 20% will go to public shareholders until the initial investment of 0.65BTC/share is recovered in dividends..

Sorry for getting it wrong, some how I managed to read 10 GH/s as 1 GH/s.

The position is better, but unfortunately being 3 months late means you would possibly have to cope with 8-16x difficulty.
If you deliver on time it can be better than buying AM chips, but by risking profitability to save labor dealing with mining.

edit: lots of typos!!!

(Let me just delete my previous post to stop this FUD I just tossed out.)

As far as I saw, cryptx was angel of cointerra, and design/hosting their website, background is good and business plan is solid (assuming of course hardware arrives on schedule)- Personally I wouldn't have touched hosted-mining, but coins standing by to buy in Peta-mine.. looks like absolutely no traction on this one though, bit of a shame, coins back to wallet after 24hrs

As I feared, this IPO is going nowhere fast.   :-\

Not even 1% of the shares have moved; this is Hosted-mining all over again.  Too bad, I was hoping for another iCE.DRiLL.   :'(

Moving to the postmortem, two outstanding issues are apparent.

1.  CryptX has no reputation, especially compared to Deadterra.

2.  BTCTC is a kiddy exchange with no deep-pocketed whales, compared to Bitfunder.

I wanted this to get off the ground, but it ain't gonna happen here.  You're doing it wrong.

To add injury to insult, now I have hundreds of coins stuck in BTCT because of their amateurish 'manual withdrawal' process.

I'd like to be buying cheap ACTM shares on Bitfunder, but will instead watch them disappear until Burnside gets around to giving me my money back.

Out of interest... when not all shares are sold the IPO is lost and all shares are paid back? Are the bitcoins locked till the IPO is successful?
When would the IPO be a failure?

I invested not a few bitcoins so i would like to feel a bit safer.

Thanks for your support. The IPO will prove successful with the sale of at least 30,000 shares. If fewer than 30,000 shares sell within 30 days, CryptX will refund the entire IPO to shareholders.

Thanks for your support. The IPO will prove successful with the sale of at least 30,000 shares. If fewer than 30,000 shares sell within 30 days, CryptX will refund the entire IPO to shareholders.

This is quite literally hosted-mining 2.0

Why do people think they can value their company at multi million dollar levels when they have absolutely nothing?

They aren't valuing their company at "multi million dollar levels" any more than a bucket would be valued at $10,000 if you were to place $10,000 in it.

They are simply collecting money to purchase mining equipment with which they will reinvest funds.

If you were to place $10,000 on a bucket, you would be valuing that bucket at $10,000 - and nobody would buy it because nobody else thinks the bucket is worth 10 grand.

Similarly, Cryptx has valued Peta-Hash at over 8 million dollars when it currently has absolutely nothing - and nobody is buying into it because nobody thinks that Cryptx is worth 8 million.

This is a simple group buy where people with money pay someone else to buy equipment, maintain it and distribute profits so they don't have to.  That's it.

I personally don't want to have to maintain hardware at my house, nor do I have access to cheap power (.17 usd/kwh here).  This is an easy way to throw money at mining and let someone else do all of the work. Mining is just a small % of my overall bitcoin portfolio (maybe 10%) so this was a no hassle way to go.

It appears that I am in the minority as not very many shares are being sold, and that is ok.  I'll take my btc and invest in a different security.. or maybe I'll invest in some Cointerra hardware myself... No harm no foul.  But I would rather this IPO hit 30k shares so I can have my little piece of the pie without having to host the equipment.

Lets do some calculation and see if you revise your sentiment -
Assuming 25% Difficulty increases (lower than the last few and the next projected increase - all around 30), by mid December 1 MH/s will be able to mine less effectively by a factor of 9.31322574615478515625, essentially 1 MH/s now would be the same as 9.31 MH/s in mid December.

Take DMS.Mining at .0032 btc/share

DMS.Mining = 5 MH/s
1612.90 MH/Btc Current
This is the equivalent of 15016.099 MH/Btc in mid December

Take PETA-hash at .68 btc/share
PETA-hash = 10000MH/s
In mid December, this would equate to 14705.88 MH/Btc


As you can see even at this point, PETA-hash is less profitable than a Perpetual Mining Bond. This does not even take into account how you can purchase DMS.Mining right away and begin receiving dividends nor does it take into account the possibility of reinvesting the dividends into the much lower price of DMS.Mining as time goes on.


So Peta-hash is worse than a PMB that I think even now is overvalued.

I'm honestly trying to understand your point. But my math isn't jiving with your math.

You are saying that DMS.mining is currently @ .0032/share and is worth 5 MH/s.

According to my math, you can buy 312.5 shares @ .0032/share for 1 btc for a total of 1562.5 MH or 1.5625 GH/BTC

I haven't run the difficulty numbers, but lets assume in december the total network hashrate will be 9.31 x what it is now (your estimate).  That would mean that 1 btc worth of DMC.Mining now would be worth 14.546875 GH in December.

With Peta-mine, we have the ability to pay .65 btc for 10GH in december or 15.3846 GH/btc which according to my math is more than 14.546875 GH you would have with DMC.Mining.

That isn't even taking into account the reinvestment that Peta-mining is planing to invest in order to stay somewhat consistent with the overall network hash rate.  Over time, your initial .65 investment will be much more than 10GH.

With your math earlier, you showed that PETA-Hash was only 5% better than a Perpetual Mining Bond, and the above math shows that in a similar fashion to all available PMBs out there, there will not be a return.

To summarize our offering (and hopefully remove all confusion and misinterpretation).

- CryptX will issue 100,000 PETA-MINE shares, each share represents 10GH/s
- For each share sold, CryptX will invest in an additional 2GH/s, up to $1.3M. We will be buying up to 16,666 shares ourselves and won't receive dividend payouts until public shareholders have earned back their initial investment of 0.65BTC/share.

I understood that you were early investor of cointerra and as such should have access to favourable bulk pricing.

can you comment on this:

https://bitcointalk.org/index.php?topic=67547.msg3040506#msg3040506

Excluding 20% additions Cognitive mining is claiming to be purchasing same hashrate as your IPO @ BTC64,500 ($7,656,000) less? - BTC52,833 if you count 16.6k shares brought up

Trading is halted now for two days, what's the plan?
Clear and timely communications would help, whatever you decide.

Trading is not halted for PETA-MINE (it was halted just before we launched yesterday).

Ok!  This is a great start, but we're a long ways away from removing all confusion.  Let's build on this great start with some question and answer time.  Let's start with:

- What does one peta-hash cost according to your contract with Cointerra?

I understand.  That's a dealbreaker for me (well, one of the dealbreakers), but I still understand.

Maybe for the sake of other potential investorcustomers, and your IPO, you could clearly explain why the community should pay you more than the retail value of 500 Cointerra IV 2TH pre-built mining rigs (500rigs @ $14k usd each x 500 = 1 p/h for $7mil) when:

1 - You're not buying the rigs, you're buying the chips
2 - At, likely, a really good discount over retail chip buys, and an absurdly good discount over the rigs.

According to Cointerra (http://cointerra.com/shop/) 40 packs of 50x Goldstrike 500g/h chips would get you to 1 p/h at a RETAIL cost of $6mil.  But you're not paying retail:


Can see why you're answer: "We are under strict guidelines/agreement not to disclose pricing information.."  is not good enough for several reasons?

If you want to be another CloudHash you can't ask investors to buy the company for you then sell it back to them as if they were customers, and not the investors that bought you the entire show.

Further, how is it not outrageous that you're trying to get your investorcustomers to not only pay far more than retail, but you expand their loss by cutting off at least 35% (+more for maintenance) of their divs to buy you more mining power at a discount so you can... well who know what you'll do with it since you haven't shown us a business plan, and the only statement I've seen from PETA-MINE is "1 share = 10g/h."  Since it's not defined what you'll do with reinvestment money, and the amount of g/h each share is entitled to, you could do anything with that hash.  

UPDATE 31/08/2013

CryptX is pleased to announce the deployment of 20 TerraHash as early as end September (BitFury chips). The net mining revenue of this 20 TH/s will be divided over the shareholders until their total investment is recovered.

CryptX will also limit the sale of shares to a maximum of 10,000. This means that no more than 10,000 shares will be sold and mining revenue will be divided over those shares. Shares will be sold in batches of 2,000 shares each, starting at 0.65BTC. Price with each new batch will increase with 0.01BTC.

As stated in the initial shareholder agreement, for each share sold, 10 GH/s of hashpower, based on CoinTerra systems, will also be deployed in December, this equals to an additional 100 TerraHash by December for 10,000 shares.

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

UPDATE 31/08/2013

CryptX is pleased to announce the deployment of 20 TerraHash as early as end September (BitFury chips). The net mining revenue of this 20 TH/s will be divided over the shareholders until their total investment is recovered.

CryptX will also limit the sale of shares to a maximum of 10,000. This means that no more than 10,000 shares will be sold and mining revenue will be divided over those shares. Shares will be sold in batches of 2,000 shares each, starting at 0.65BTC. Price with each new batch will increase with 0.01BTC.

As stated in the initial shareholder agreement, for each share sold, 10 GH/s of hashpower, based on CoinTerra systems, will also be deployed in December, this equals to an additional 100 TerraHash by December for 10,000 shares.

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

I'd like to confirm whether 20% of each share towards additional hashrate is still applicable

Can we get a date when the hashing will start?

Can we get photos of your datacenter?
If not, why not (better be a good reason).

UPDATE 31/08/2013

CryptX is pleased to announce the deployment of 20 TerraHash as early as end September (BitFury chips). The net mining revenue of this 20 TH/s will be divided over the shareholders until their total investment is recovered.

CryptX will also limit the sale of shares to a maximum of 10,000. This means that no more than 10,000 shares will be sold and mining revenue will be divided over those shares. Shares will be sold in batches of 2,000 shares each, starting at 0.65BTC. Price with each new batch will increase with 0.01BTC.

As stated in the initial shareholder agreement, for each share sold, 10 GH/s of hashpower, based on CoinTerra systems, will also be deployed in December, this equals to an additional 100 TerraHash by December for 10,000 shares.

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Let me explain what's happening to those too stupid to work it out for themselves (i.e. most of you).

BTC is rising vs USD.  If BTC rises vs USD by X% then the BTC paid for shares in this buy X% more hashes than they did when the IPO listed.  But the amount promised to investors isn't rising by X% - the gain gos straight to the issuer.  Yeah - you've been given 20% extra but that didn't even use up the hidden markup built into the IPO at the original price.

BTC rising vs USD is what makes most mining investments useless anyway.  When BTC rises, the price of hardware (in BTC) falls making the apparent profitabilty of mining rise.  That spurs more purchase of hardware - causing difficulty to rise.  Although USD-profit may slightly increase even afterwards this wipes out most of the benefit of the rate increase leaving you worse off than if you just held BTC during the rise.

Once you add in hidden levels of markup in the sales price plus a visible cut being taken via shares you end up lucky to make anything in USD terms and out of pocket in BTC terms.

What the issuer is doing is trying to bribe everyone into ignoring the IPO terms - by giving back a part of the increase in hashing power that your BTC could buy as a result of the exchange-rate change.  Which would leave them with not just the markup they'd originally planned to take - but also a bonus in keeping the extra USD generated by the exchange-rate move whilst guaranteeing that investors end up with a loss in BTC terms (i.e. worse off than if they just held their BTC).

What you need from an issuer if the exchange-rate is rising is a commitment that all BTC raised (or the same proportion as would have been the case if exchange-rate hadn't moved) will be used to purchase hashing power for investors.  But as they've never tried to be transparent in the first place there's little likelihood of it starting now.  And by the looks of it, little chance that they intend to honour the contract and return your funds if they fail to sell the 30k target stated in their contract.

Which kind of serves you all right for investing in such a pile of shite in the first place tbh.

Deprived, you should be stating your conflict of interest when spreading FUD against a competing security.  I find it a little underhanded that you would post this on a direct competitors thread without at least attempting disclosure.

That being said, thank you for your views.  There does seem to be a gap in information re: the exchange rate and how much is exactly being invested of IPO funds.

I really dont see how there is a conflict of interest, much less that this is somehow a "direct competitor".

Seriously?  There really is no point in even responding to that.  You're being either willfully ignorant, or willfully deceitful.

I'm being serious, I do not see how DMS.Purchase and PETA-Hash are in any way competitive against each other.

Well, half of DMS.PURCHASE is a mining bond. Still, I doubt that Deprived's comments in this case are influenced by competition, what little there might be.

Getting totally off topic here, but let me point this out: If that were true, then the value of DMS.PURCHASE would be 0, but it's not.

Deprived, is this another drunkmail?

Your terminology is confusing. I just want to be sure.
TerraHash is a company: "TerraHash is a Silicon Valley based company. We make ASIC Bitcoin Mining Gear using the Avalon ASIC chips made by BitSyncom. "

You mean 20 terahash, as in 20,000 gigahash, right?

Deprived, is this another drunkmail?

As stated in the initial shareholder agreement, for each share sold, 10 GH/s of hashpower, based on CoinTerra systems, will also be deployed in December, this equals to an additional 100 TerraHash by December for 10,000 shares.

An exchange-rate senstive IPO needs to either:

a) Only run for a very short period of time
OR
b) Be denominated in USD with the BTC price changing as the exchange-rate moves
OR
c) Have some other clear provision to address any such exchange-rate move.

This is one of the reasons we are offering smaller batches.

Then why are you saying that Bitfury chips won't provide any profit to shareholders beyond the .65B initial investment?  Why is there a reinvestment fund in the first place if your investorcustomers don't see the benefit beyond .65B?

I also want to add that we will deploy the 20TH in September even if the 10,000 shares are not sold.

For example:

If only 4000 shares are sold, the revenue of the 20TH will be divided over these shares until 0.65 BTC is received in dividend.
Of course in December an additional 40TH of Cointerra systems will be deployed for these 4000 shares

^ exactly, you cannot just change that, you would be breaching the contract. You need to do buyback first then offer it with changes

The more important question for me is why the exchange is allowing to change the contract onesided. Why is it possible?

cryptx,

As you have now changed the whole IPO with no warning and no motions, and broken the whole contract that I signed up to when I bought my shares, I would like to request that you buy-back my shares.

I have 15 shares.
 
15 x .65btc plus transaction fees I incurred.

Please let me know how we can arrange this.

Edit: You should also change your business name. You are no longer aiming for 1PH/s, so Peta-Mine is false advertising.

Our goal is still to deploy the 1PH mine, we will start with an initial batch of 10k shares (20TH September + 100TH December).
Instructions have been mailed to shareholders in case you would like a refund.

How do I process a refund,  the email was not clear on how to do it.

at today's rate (off mt gox) that's 94.25 dollars per 10gh in december or 9.425 /gh guaranteed in december.

this may be the best deal in the world it may also be the worst deal in the world (well, not worst). too many unknowns.

Down the line you may be right...but for NOW it is the best deal available to the avg joe

The net mining revenue of this 20 TH/s will be divided over the shareholders until their total investment is recovered.

Net revenue is defined as the total sum of Bitcoins mined, transaction fees received and net revenue from hardware sold, minus electricity, hosting, and mine maintenance costs.

All mining revenue from this additional 20% will go to public shareholders until the initial investment of 0.65BTC/share is recovered in dividends.

It's baffling how some issuers seem to think unilaterally changing their contract after shares have been sold is acceptable. This defeats the entire purpose of having a contract.

Are you Bitfunder's equivalent of MPOE-PR?

Emphasis mine. I apologize if this has already been asked and answered, but you mention several times that dividends will be paid until shareholders' initial investment is recovered. Will shareholders continue to receive dividends after their initial investment is recovered? The quoted text seems to imply the opposite.

Also baffling is the exchange operator's indulgence of such anarchy.  Ukyo would never stand for that nonsense!

Sometimes knowing the relevant facts is advisable before posting an opinion.

We will deploy 20 TH in September and all dividends will be divided among shareholders until the 0.65 BTC investment is recovered.

We will also deploy 10 GH/share in December and shareholders will continue to receive dividends of this deployment also after investment is recovered.

But I could be wrong.

Yep, maybe. But for sure you're panic button is way too sensitive, relax dude.
Just don't invest.

But running around screaming makes u look like a fool.

Why even consider investing in this?

Cryptx keeps saying the same response to you all repeatedly, ignoring specific questions. Why even consider investing in this?

If the design of the IPO is poor, and the offering is underwhelming, just move on, no?

Stop giving money to people you've no reason to trust, and whom make no convincing argument for being trusted.

Hey CryptX - fyi the details tab for PETA on btctc says "Outstanding 1758 / 100000 Issued"

Should say "Outstanding 1758 / 10000 Issued"

Unless I am mistaken I believe it's off by an order of 10

CryptX Business Goals

CryptX’s primary goal is to provide opportunities for the public to invest in the Bitcoin mining business. The company will do this by offering shares of a PETA-MINE, a hosted mining project with a capacity of 1,000,000 GH/s of hashing power.

CryptX hereby offers an asset (its PETA-MINE) for shares in the profit of the company’s operation. CryptX will offer 100,000 shares, where every share represents 10 GH/s of hashing power.

The PETA-MINE’s hashing power will represent a percentage of the total hashing power of the entire Bitcoin network. This percentage will decrease whenever the hashing power of the network increases. To mitigate this issue, CryptX will reinvest 35% of the mine’s net revenue in additional hashing power. This means that as the PETA-MINE continues to grow, each share will, in turn, represent more hashing power. 65% of the net revenue will be paid to shareholders through a weekly dividend.

Deployment of the PETA-MINE will occur mid December, 2013.

Shareholder Information

CryptX will issue 83,333 out of 100,000 non-dilutable PETA-MINE shares at IPO. Each share represents 1/100,000 of the total hash power of the PETA-MINE, and shareholders will receive a weekly dividend payment every Friday. The PETA-MINE will deploy with a capacity of 1,000,000 GH/s where one share represents 1 GH/s in hashing power.

The company will issue shares in two batches:

The first batch will consist of 50,000 shares. CryptX will sell these shares through BTC-TC at a fixed price of 0.65 BTC per share. The sale of the first batch will close when all shares are sold.
The second batch will consist of the remaining 33,333 shares and will sell at a fixed price of 0.7 BTC per share. The sale of the second batch will close when all shares are sold.
All shares are entitled to an equal percentage of dividends and all shares sold in the IPO are considered voting shares. A total of 83,333 out of 100,000 shares will sell at IPO. No shares beyond these 100,000 will ever be sold or created in the future, so shares can never be diluted.

For every share sold, CryptX will invest in an additional 20% hashpower. All mining revenue from this additional 20% will go to public shareholders until the initial investment of 0.65BTC/share is recovered in dividends.

Hey CryptX - fyi the details tab for PETA on btctc says "Outstanding 1758 / 100000 Issued"

Should say "Outstanding 1758 / 10000 Issued"

Unless I am mistaken I believe it's off by an order of 10

stuff

We will deploy 20 TH in September and all dividends will be divided among shareholders until the 0.65 BTC investment is recovered.

Here are some numbers:

20 TH of Bitfury : 400,000$
(400 GH/s = 8,000$)

100 TH of Cointerra : 700,000$
(2 TH/s = 14,000$)

Total cost (without VAT, Shipping or Taxes): 1,100,000$

Total retail cost for each share: 110$

Does this mean that they are bringing 54TH or 20TH online in September?  The way it is worded makes me think it's only 20, but it would make sense that they purchased enough for another 2000 shares to be sold (to be able to cover the stated 20%).

Here are some numbers:

20 TH of Bitfury : 400,000$
(400 GH/s = 8,000$)

100 TH of Cointerra : 700,000$
(2 TH/s = 14,000$)

Total cost (without VAT, Shipping or Taxes): 1,100,000$

Total retail cost for each share: 110$

The 54TH will cover enough hashpower in September for a total of 27,000 shares...

Be clear.  You're not paying retail.  Why should your investors?

Retail prices without VAT, Shipping or Taxes would be 0.90 BTC/share
(Average world VAT = 16,4%, which would be 1.05 BTC/share)

We are offering at 0.66 BTC/share

I don't see how that could possibly be true.  You're valuing 100th of Cointerra hardware at $700k.  According to their website 100Th of Cointerra Goldstrikes (http://cointerra.com/shop/) retails for $559,000usd.  100Th of Cointerra full rigs even retails for less than $700k.  Not only are you trying to raise substantially more capital than what you're actually going to pay for the hardware, your IPO is asking ~$800k more than retail.  What am I missing?   Show me your math.  (and business plan..), and clarify where the money for the extra hash power is coming from, and specify who gains access from any additional hash provided as a result of a delay (Cointerra's +20% hash buyer protection plan).

Thanks, that makes complete sense.  Is the IPO still only running for 30 days as originally planned (ending on the 27th)?

What is the reason for investing in Cointerra chips at this point if you can deploy Bitfury equipment in late September? Under $15 per Ghash in late September is more profitable than Cointerras $6/Ghash in early December. Also Bitfury chips have been proven to work already.

Wouldn't it be a better option to only deploy Bitfury equipment first, evaluate the situation later and use the reinvestment part to acquire more hashing power? I'm interested in this stock but would like to hear from the management the reasoning behind their choice to invest in Cointerra chips already at this stage.

You're seriously asking a 40 post account for details of what they'll do if you send them a few million USD?  I can think of worse things to do with thousands of BTC (flushing them down the toilet, burning them, investing them with usagi) but none are MUCH worse - and likely investing with usagi is better as from past results you'd get 10-15% back after a year.

Seriously, if someone hasn't got a track record and hasn't got (provably) a load of cash then just ignore them (shockingly there's a reason why people without cash lack cash - and it doesn't make them good investments).  When you look at potential investments you absolutely MUST look for reasons NOT to invest - not look for excuses to throw your cash away.  These guys haven't even worked out how BTC-TC works yet - and are selling under a contract (which only exists in forum posts that they can edit) that isn't even the one listed on the exchange.  And you're seriously asking for clarification on details of a theoretical contract in an irrelevant forum post? 

Just destroy your coins and jump off a cliff - it'll achieve the same result faster without spamming the forum while you work out just how fucking stupid you are.

Am I justified in getting seriously pissed off by all these competing asset issuers attempting to FUD this security?  If you are going to stoop to this type of behavior, at least have the balls to state your conflict.

You're seriously asking a 40 post account for details of what they'll do if you send them a few million USD?  I can think of worse things to do with thousands of BTC (flushing them down the toilet, burning them, investing them with usagi) but none are MUCH worse - and likely investing with usagi is better as from past results you'd get 10-15% back after a year.

Seriously, if someone hasn't got a track record and hasn't got (provably) a load of cash then just ignore them (shockingly there's a reason why people without cash lack cash - and it doesn't make them good investments).  When you look at potential investments you absolutely MUST look for reasons NOT to invest - not look for excuses to throw your cash away.  These guys haven't even worked out how BTC-TC works yet - and are selling under a contract (which only exists in forum posts that they can edit) that isn't even the one listed on the exchange.  And you're seriously asking for clarification on details of a theoretical contract in an irrelevant forum post? 

Just destroy your coins and jump off a cliff - it'll achieve the same result faster without spamming the forum while you work out just how fucking stupid you are.

What is wrong with asking questions? I haven't invested anything in this yet. The issuer are saying that they are angel investors on Cointerra so they are not just anyone on the forum. Also what the fuck forum post count has to do with credibility?

Nothing wrong with asking questions - other than when there's already evidence to suggest that no matter what the answers are you shouldn't touch it.  Amending contracts mid-IPO is one such piece of evidence - once that happens asking more questions is just a waste of time as there's no sensible scenario in which an investment could make sense.

It's like asking a convicted paedophile what they believe the age of consent should be.  They may have a valid opinion but you don't need to hear it to decide not to hire them to babysit your kids.

I agree they should have planned the IPO better but the changes have been made to actually benefit shareholders. Instead of deploying 20% more hashing power in December they decided to deploy it in late September.

Also you can't be 100% sure that this is a scam.

Thanks, that makes complete sense.  Is the IPO still only running for 30 days as originally planned (ending on the 27th)?

The purchase agreement has expanded to the delivery of 18,000 Bitfury chips (about 54 TH/s). Even more important is the early delivery date of 20 September 2013 for all chips. We will pick up the chips in Finland in person. This date will give CryptX an important lead start.

You ordered 18,000 Bitfury....CHIPS?
So... who's gonna assemble the ASICs for you? Please don't say burnin - i know that he's currently working on a BitFury design, but he isn't sure about weather it will work out or not.

Even if you (or burnin) start assembling your boards on 20th September, with 18,000 chips in hand it will last at least 3 weeks until you're done.
So you won't start hashing before end of October, which means the first dividend will come in on November.

What’s your production capability?
Around 1000 modules per week.

You are throwing around numbers. As per FAQ here: http://www.burninmining.com/faq/
Since Burnin's Bitfury boards are 16 chips each, he can manage 18,000 chips in 1 week, not 3 as you stated.

Not that I have anything to do with/like CryptX.

You ordered 18,000 Bitfury....CHIPS?
So... who's gonna assemble the ASICs for you? Please don't say burnin - i know that he's currently working on a BitFury design, but he isn't sure about weather it will work out or not.

The question remains...who is going to make the boards for PETA-MINE if not burnin?

So, you have inside knowledge of burnin's mind. Of cource he's not sure, as one can only be sure when it's done.

Doubts are a bitch. This fast moving, high risk bitcoin mining investing thing is not for you i guess, beter not invest. But, if you insist, the internets can help, try this: www.wikihow.com/Let-Go-of-Doubts or GTFO.

who are you to tell me gtfo? get lost man.

burnin wrote me an email by this morning where he stated (in german) "i hope that everything works out and i get this bitfury miner running, so that you all get your [bitburner avalon chip] 70% refunds..."

i was going to buy some of this shares, so it's a legit question to ask: who is going to assemble the asics from 18,000 chips and how long will it last... chips cannot hash when not soldered on a pcb, you know?
nah, probably you don't...

The Bitcoin (mining) space is a very fast changing environment.  If you make up a strategic business plan, put your head in the sand and stick rigorous to your plan, you are set up for failure.

Literally every day, new information presents itself and new competition enters the market. It is the task of a good strategic manager to take this all into consideration and to anticipate to future developments. If you are not flexible here, you are dead in the water.

I would rather invest in a company with a management that is willing to review, reconsider and adjust their projects on a continuous basis instead of a rigid company who sticks to its original plan.

Yes, we have changed our originally filed business plan. This may seem like profanity to some people, but we have always the benefit of our shareholders in mind.

YES 4 / 7 NO    (1 ABSTAINING -- Users with 10 or more shares of LTC-GLOBAL are allowed to vote.)

strongbow voted YES with comment: Good to see some additional liquidity and diversification in the Bitcoin mining space.
Anonymous voted NO with comment: Attempting to break the contract -- odolvlobo
Anonymous voted NO with comment: Contract terms in flux after moderator approval and shares sold.
BTCTRADINGPT voted NO with comment: BTC-Trading-PT shareholders voted 290-65 to not approve.
Anonymous voted NO with comment: Muddy contract terms that often change.
Anonymous voted NO with comment: Not following their contract!
Anonymous voted NO with comment: How about you try IPOing when it's actually hashing, rather than putting all the risk on investors? The difficulty in Dec may be astronomical, and thus rendering this investment to result in almost guaranteed loss.
   cryptx replied Thank you for your feedback. CryptX will invest in an additional 20% of hashpower for every share sold. All mining revenue from this additional 20% will go to public shareholders until the initial investment of 0.65BTC/share is recovered in dividends.
woodtech voted NO with comment: As other "No" voter said; all risk is on investors. You need to have some skin in the game yourselves please!
   cryptx replied Thank you for your feedback and taking time to review our IPO. We updated our IPO details with the following: For every share sold, CryptX will invest in an additional 20% of hashpower. All mining revenue from this additional 20% will go to public shareholders until the initial investment of 0.65BTC/share is recovered in dividends.

The company will issue shares in two batches:

The first batch will consist of 50,000 shares. CryptX will sell these shares through BTC-TC at a fixed price of 0.65 BTC per share. The sale of the first batch will close when all shares are sold.
The second batch will consist of the remaining 33,333 shares and will sell at a fixed price of 0.7 BTC per share. The sale of the second batch will close when all shares are sold.

You CANNOT alter your contract by editing a forum post. That's why we have contracts.

https://btct.co/security/PETA-MINE

From the "Terms and Conditions" of our original contract: The issuer does, however, have the right to change the price and/or quantity of any scheduled sale batches of shares.

Terms and Conditions

Each share represents 1/100,000 of PETA-MINE net revenue. Net revenue, once again, is defined as Bitcoins earned by the mine minus electricity, hosting, and maintenance costs. 65% of net revenue will be paid in dividends every Friday around 15:00 GMT. CryptX will then reinvest 35% of net revenue in additional mining capacity. Every shareholder is also entitled to his or her share of net revenue from hashing power reinvestments. The 65%/35% distribution rule will also apply to hardware acquired through reinvestment.

The shares have no voting power. Shares of PETA-MINE on BTC-TC do not represent real world shares of CryptX. The shares are solely a distribution mechanism for rights to profits from the PETA-MINE. Profit distribution will not be dependent on BTC-TC existence; in the event BTC-TC closes down, the equity will be moved to another trading platform. If no adequate platform exists, CryptX will manually transfer payouts to shareholders’ Bitcoin addresses.

The issuer has no right to release additional shares at any time or for any price. Thanks to this limitation, the value of initial shareholders’ shares is non-dilutable. The issuer does, however, have the right to change the price and/or quantity of any scheduled sale batches of shares.

Literally.

Holders of shares with no voting power, please vote on our motion as your vote is currently important to us.

The typo of the initial contract is corrected in the motion.

CryptX Business Goals

CryptX’s primary goal is to provide opportunities for the public to invest in the Bitcoin mining business. The company will do this by offering shares of a PETA-MINE, a hosted mining project with a capacity of 1,000,000 GH/s of hashing power.

CryptX hereby offers an asset (its PETA-MINE) for shares in the profit of the company’s operation. CryptX will offer 100,000 shares, where every share represents 10 GH/s of hashing power.

The PETA-MINE’s hashing power will represent a percentage of the total hashing power of the entire Bitcoin network. This percentage will decrease whenever the hashing power of the network increases. To mitigate this issue, CryptX will reinvest 35% of the mine’s net revenue in additional hashing power. This means that as the PETA-MINE continues to grow, each share will, in turn, represent more hashing power. 65% of the net revenue will be paid to shareholders through a weekly dividend.

Deployment of the PETA-MINE will occur mid December, 2013.

Shareholder Information

CryptX will issue 83,333 out of 100,000 non-dilutable PETA-MINE shares at IPO. Each share represents 1/100,000 of the total hash power of the PETA-MINE, and shareholders will receive a weekly dividend payment every Friday. The PETA-MINE will deploy with a capacity of 1,000,000 GH/s where one share represents 1 GH/s in hashing power.

The company will issue shares in two batches:

The first batch will consist of 50,000 shares. CryptX will sell these shares through BTC-TC at a fixed price of 0.65 BTC per share. The sale of the first batch will close when all shares are sold.
The second batch will consist of the remaining 33,333 shares and will sell at a fixed price of 0.7 BTC per share. The sale of the second batch will close when all shares are sold.
All shares are entitled to an equal percentage of dividends and all shares sold in the IPO are considered voting shares. A total of 83,333 out of 100,000 shares will sell at IPO. No shares beyond these 100,000 will ever be sold or created in the future, so shares can never be diluted.

For every share sold, CryptX will invest in an additional 20% hashpower. All mining revenue from this additional 20% will go to public shareholders until the initial investment of 0.65BTC/share is recovered in dividends.

Shareholder Protection

The IPO will prove successful with the sale of at least 30,000 shares. If fewer than 30,000 shares sell within 30 days, CryptX will refund the entire IPO to shareholders. What’s more, the fact that no shares beyond those offered at IPO will ever be issued means shareholders need not fear dilution of the value of their shares.

CryptX will invest in an additional 20% hashpower for every share sold. All mining revenue from this additional 20% will go to public shareholders until the initial investment of 0.65BTC/share is recovered in dividends.

CryptX will regularly update all relevant information about the PETA-MINE so that shareholders can evaluate the performance, capital outlay, and future of the project. It will make this information available through a regular shareholder newsletter, periodic updates to its website (cryptx.com), and a forum it will create on bitcointalk.org dedicated exclusively to CryptX news.

CryptX will pay weekly dividends to shareholders amounting to a percentage share of ownership in the PETA-MINE. CryptX will not change the direction or goal of the PETA-MINE without shareholder votes as per the statutes of BTC-TC.

PETA-MINE Deployment Date

PETA-MINE deployment is scheduled for mid December, 2013. The CryptX management team is well aware of the importance of timing the mine’s deployment. It is also aware of the very poor track record of meeting time schedules in the Bitcoin mining space and recognize that potential sources of such delays include chip failure, PCB failure, or chip delivery problems. CryptX will protect PETA-MINE shareholders against such delays by adding 20% additional hash power for each 30 days the company exceeds its target deployment date.

For example, if CryptX ultimately deploys the mine after mid January, 2014, an additional 200 TH/s of power will be added to the PETA-MINE completely free of charge to shareholders, and each share will be entitled to 12 GH/s of hash power. If the company starts deployment after February 15, 2014, it will add an additional 20% on top of the previous 20%. In that case, each share would be entitled to 14.4 GH/s of hash power.

Dividends

Dividends will automatically appear in shareholders’ Bitcoin wallets every Friday around 15:00 GMT.  Dividends will consist of 65% of PETA-MINE net revenue for the week. Net revenue is defined as the total of all Bitcoins mined minus electricity, hosting, and mine maintenance costs.

The percentage of the net revenue paid in dividends can change if shareholders vote to change it. Such action will only occur if the state of the Bitcoin mining space demands it.

Reinvestment

Every week, CryptX will reserve for reinvestment purposes a percentage of earned Bitcoins equal to 35% of net revenue. These investments will allow CryptX to produce and deploy additional hardware. Time of deployment for this additional hardware will be in the best interest of shareholders.

Because of the unique partnership between CryptX and Cointerra, a world-class semiconductor engineering company, future investments in the PETA-MINE will occur at the most competitive prices. CryptX will also have first access to future chip designs direct from Cointerra.

While the reinvestment percentage is subject to change via shareholder vote, such action will only occur if the state of the Bitcoin mining space demands it.

Terms and Conditions

Each share represents 1/100,000 of PETA-MINE net revenue. Net revenue, once again, is defined as Bitcoins earned by the mine minus electricity, hosting, and maintenance costs. 65% of net revenue will be paid in dividends every Friday around 15:00 GMT. CryptX will then reinvest 35% of net revenue in additional mining capacity. Every shareholder is also entitled to his or her share of net revenue from hashing power reinvestments. The 65%/35% distribution rule will also apply to hardware acquired through reinvestment.

The shares have no voting power. Shares of PETA-MINE on BTC-TC do not represent real world shares of CryptX. The shares are solely a distribution mechanism for rights to profits from the PETA-MINE. Profit distribution will not be dependent on BTC-TC existence; in the event BTC-TC closes down, the equity will be moved to another trading platform. If no adequate platform exists, CryptX will manually transfer payouts to shareholders’ Bitcoin addresses.

The issuer has no right to release additional shares at any time or for any price. Thanks to this limitation, the value of initial shareholders’ shares is non-dilutable. The issuer does, however, have the right to change the price and/or quantity of any scheduled sale batches of shares.

CryptX Business Goals

CryptX’s primary goal is to provide opportunities for the public to invest in the Bitcoin mining business. The company will do this by offering shares of a PETA-MINE, a hosted mining project with an initial maximum capacity of 1,000,000 GH/s of hashing power.

CryptX hereby offers an asset (its PETA-MINE) for shares in the profit of the company’s operation. CryptX will offer a maximum of 100,000 shares, where every share represents 10 GH/s of hashing power.

For every share sold, CryptX will invest in an additional 20% hashpower, with a minimum of 20 TH/s, which will be deployed as early as the end of September. All mining revenue from this additional 20% will go to public shareholders until 0.65 BTC/share is recovered in dividends.

The PETA-MINE’s hashing power will represent a percentage of the total hashing power of the entire Bitcoin network. This percentage will decrease whenever the hashing power of the network increases. To mitigate this issue, CryptX will reinvest 35% of the mine’s net revenue in additional hashing power. This means that as the PETA-MINE continues to grow, each share will, in turn, represent more hashing power. 65% of the net revenue will be paid to shareholders through a weekly dividend.

Deployment of the PETA-MINE will start at the end of September 2013.

Shareholder Information

CryptX will issue a maximum of 100,000 non-dilutable PETA-MINE shares at IPO. Each share represents at least 10 GH/s of the total hash power of the PETA-MINE, and shareholders will receive a weekly dividend payment every Friday.

For every share sold, CryptX will invest in an additional 20% hashpower, with a minimum of 20 TH/s, which will be deployed as early as the end of September. All net mining revenue from this additional 20% will go to public shareholders until the initial investment of 0.65 BTC/share is recovered in dividends.

All shares are entitled to an equal percentage of dividends and all shares sold in the IPO are considered voting shares. No shares beyond these 100,000 will ever be sold or created in the future, so shares can never be diluted.

CryptX will issue shares in batches of 10,000 with a maximum of 100,000 shares. Each batch of 10,000 shares will be divided in blocks of 2,000 shares. The first block of 2,000 shares starts at 0.65 BTC. Price with each new block will increase with 0.01 BTC.

Shareholder Protection

After 27 September 2013, we won't issue new batches of 10,000 shares. The IPO will continue to run until the last issued batch of 10,000 shares is sold. For example if 6,000 shares are sold on 27 September, a maximum of 10,000 shares will be issued. For example if 15,000 shares are sold on 27 September, a maximum of 20,000 shares will be issued.

CryptX will regularly update all relevant information about the PETA-MINE so shareholders can evaluate the performance, capital outlay, and future of the project. It will make this information available through a regular shareholder newsletter, periodic updates to its website (cryptx.com), and a forum it will create on bitcointalk.org dedicated exclusively to CryptX news.

CryptX will pay weekly dividends to shareholders amounting to a percentage share of ownership in the PETA-MINE. CryptX will not change the direction or goal of the PETA-MINE without shareholder votes as per the statutes of BTC-TC.

PETA-MINE Deployment Date

First deployment is scheduled for the end of September 2013. The CryptX management team is well aware of the importance of timing the mine’s deployment. It is also aware of the very poor track record of meeting time schedules in the Bitcoin mining space and recognize that potential sources of such delays include chip failure, PCB failure, or chip delivery problems. CryptX will protect PETA-MINE shareholders against such delays by adding 20% additional hash power for each 30 days the company exceeds its target deployment date.

For example, if CryptX ultimately deploys the mine after mid-January, 2014, an additional 20% of power will be added to the PETA-MINE completely free of charge to shareholders, and each share will be entitled to 12 GH/s of hash power. If the company starts deployment after mid-February, 2014, it will add an additional 20% on top of the previous 20%. In that case, each share would be entitled to 14.4 GH/s of hash power.

Dividends

Dividends will automatically appear in shareholders’ Bitcoin wallets every Friday around 15:00 GMT.  Dividends will consist of 65% of PETA-MINE net revenue for the week. Net revenue is defined as the total of all Bitcoins mined minus electricity, hosting, and mine maintenance costs.

The percentage of the net revenue paid in dividends can change if shareholders vote to change it. Such action will only occur if the state of the Bitcoin mining space demands it.

Reinvestment

Every week, CryptX will reserve for reinvestment purposes a percentage of earned Bitcoins equal to 35% of net revenue. These investments will allow CryptX to produce and deploy additional hardware. Time of deployment for this additional hardware will be in the best interest of shareholders.

Because of the unique partnership between CryptX and Cointerra, a world-class semiconductor engineering company, future investments in the PETA-MINE will occur at the most competitive prices. CryptX will also have first access to future chip designs direct from Cointerra.

While the reinvestment percentage is subject to change via shareholder vote, such action will only occur if the state of the Bitcoin mining space demands it.

Terms and Conditions

Each share represents minimum 10 GH/s of PETA-MINE net revenue. Net revenue, once again, is defined as Bitcoins earned by the mine minus electricity, hosting, and maintenance costs. 65% of net revenue will be paid in dividends every Friday around 15:00 GMT. CryptX will then reinvest 35% of net revenue in additional mining capacity. Every shareholder is also entitled to his or her share of net revenue from hashing power reinvestments. The 65%/35% distribution rule will also apply to hardware acquired through reinvestment.

The shares have voting power. Shares of PETA-MINE on BTC-TC do not represent real world shares of CryptX. The shares are solely a distribution mechanism for rights to profits from the PETA-MINE. Profit distribution will not be dependent on BTC-TC existence; in the event BTC-TC closes down, the equity will be moved to another trading platform. If no adequate platform exists, CryptX will manually transfer payouts to shareholders’ Bitcoin addresses.

The issuer has no right to release additional shares at any time or for any price. Thanks to this limitation, the value of initial shareholders’ shares is non-dilutable. The issuer does, however, have the right to change the price and/or quantity of any scheduled sale batches of shares.

PETA-MINE shareholders always had and always will have voting rights!
As stated: All shares are entitled to an equal percentage of dividends and all shares sold in the IPO are considered voting shares.

Ok, good to hear that. But, to having "voting rights" and "voting power" are obviously two different things??  ???

So, if "The shareholders are 100% owners of the PETA-MINE" (from your contract), but "The shares have no voting power" (from your contract), then who have the voting power?  :o

Shareholders are 100% owner of PETA-MINE and shares have voting power! Also see the motion (that is where we corrected the typo).

wait wait wait....

now you're mixing something up.
noone here from PETA-MINE stated that burnin is going to assemble their Bitfury chips - i assumed that, because burnin is the only person I KNOW who's probably capable of doing that for the moment....
...AND because he seems to be the partner for their upcoming Cointerra chips (see opening post) - btw. I asked him about the Cointerra design too and I'm curious about his answer.

So please, if you don't have a concrete answer to my question (which all potential buyers should be interested in), than...let's leave at this.

I'm new to this asset can someone tell me what's going on

As i see it, cryptx started a ipo for a big fat peta hash mine with cointerra chips. Because it takes some time for the cointerra chips to ship Criptx is doing some bitfury deals to generate dividents faster, for free.

Some guys are going completely balistic about typo's and 'changes' to the deal, like they were done harm. I could understand this if they where competitors. If they are potential investors i cannot, they just would not invest. Maybe it's personal, i don't know.
I think it's a gutsy move starting this big mine, in europe, with Cointerra supplying the beef.

Changes are positive for me as a shareholder, so i keep my shares. If not then i sell, it's that simple. No need to give these guys a hard time, they did me no wrong.

Maybe they want cheap shares but what do I know?  ;) :-X

I also confirm, that the new one is clearly better in every aspects. There's actually quite much tiny changes, but in my opinion as a shareholder, all of these seems positives and the whole contract is now more consistent (it's easy to comparing them for e.g. by this: http://www.diffchecker.com/diff).

this thread has turned into a big mess

UPDATE 08/09/2013

PETA-MINE revenue forecast with our September deployment:

https://docs.google.com/spreadsheet/ccc?key=0AjI5bgsiFJAidDRWR3RBYXdtR0JEb3JqdmlxYVpmTmc#gid=0

*Please note that this scenario is just an example and does not represent the future or actual profits. These figures do not include the electricity, hosting and maintenance costs.

@Dhenson
Thanks for the post.

Difficulty estimates are, beside the BTC exchange rate, the hardest forecasts to make for a Bitcoin mining investor. I’m seeing a shift from the tendency to underestimate the hashrate to the tendency to overestimate the future hashrate.

If every ASIC producer out there had delivered what they promised, we would have a tenfold in hashrate right now. I assume this is also going to be the case for the next couple of months. Delays are already dripping in. In my opinion the curve will not be that steep and not that high.
 
Nevertheless the whole ballgame is changing very fast and it is the task of the management of the PETA-MINE to take this all into consideration and to anticipate to future developments. We feel very confident about our first deployment, as it’s imo the most reliable, fastest and economical strategic choice that can be made at this time.

I agree, we are all trying to estimate network hash rate to varying degrees of success.  I was in no way inferring that you were being dishonest or deceitful, just optimistic.

I do have one last question that has been nagging at me and I'm surprised it hasn't been discussed.  Initially with the 100k shares, you seemed to have issued yourself 16,666 of the 100,000 shares. (only 83,333 were initially released out of the 100,000).  I may have just missed it in the motion, but are you still issuing yourself 16,333 shares? If so that seems incredibly excessive.  Based on the re-worded motion it doesn't look like you have any shares being held back.  10k offered, 10k publicly sold.

I'm not wording this question well, but what I really want to know is how will dividends be calculated assuming only 10k shares are sold?

((BTC mined - (Elec+hosting+maintenance)) * .65) / 10,000 ?

This answer is under the pretense our ongoing motion will get approved.

We will not issue any shares to ourselves. This means public shareholders are 100% owners of the PETA-MINE.

The free extra 20% of hashpower (with a minimum of 20 TH/s) will pay dividends until 0.65 BTC is recovered by every shareholder.
(this is also included in the revenue doc)

If only 10k shares are sold, dividends are calculated as you stated:

BTC mined - (Elec+hosting+maintenance)) * .65) / 10,000

Reinvestments are calculated as follows:

BTC mined - (Elec+hosting+maintenance)) * .35) / 10,000

(reinvestment of the 20% free hashpower will also be owned by public shareholders)

UPDATE 09/09/2013

CRYPTX BUYS DATACENTER

CryptX is pleased to announce the purchase of its own datacenter.

The datacenter has an initial power capacity to host 300 TH/s of Bitcoin mining equipment. The capacity can be expanded if necessary. The electricity costs can be kept at a minimum due to our on-site solar plant of 350,000 Watt. The first deployment of 20 TH/s at the end of September has a monthly total cost, including electricity, maintenance and hosting, of maximum 5,000$.

The purchase of the datacenter is the second milestone in the development of the PETA-MINE. This enables CryptX to run the mine very cost efficient.

UPDATE 09/09/2013

CRYPTX BUYS DATACENTER

CryptX is pleased to announce the purchase of its own datacenter.

The datacenter has an initial power capacity to host 300 TH/s of Bitcoin mining equipment. The capacity can be expanded if necessary. The electricity costs can be kept at a minimum due to our on-site solar plant of 350,000 Watt. The first deployment of 20 TH/s at the end of September has a monthly total cost, including electricity, maintenance and hosting, of maximum 5,000$.

The purchase of the datacenter is the second milestone in the development of the PETA-MINE. This enables CryptX to run the mine very cost efficient.

UPDATE 09/09/2013

CRYPTX BUYS DATACENTER

CryptX is pleased to announce the purchase of its own datacenter.

The datacenter has an initial power capacity to host 300 TH/s of Bitcoin mining equipment. The capacity can be expanded if necessary. The electricity costs can be kept at a minimum due to our on-site solar plant of 350,000 Watt. The first deployment of 20 TH/s at the end of September has a monthly total cost, including electricity, maintenance and hosting, of maximum 5,000$.

The purchase of the datacenter is the second milestone in the development of the PETA-MINE. This enables CryptX to run the mine very cost efficient.

If we assume 1Ghash per watt then 20Thash and 5000usd a month would mean 0.34usd hosting fee per kilowatt. That is a really high fee for a data center hosting. For example 100Thash bitfury project has 5000usd hosting fee for 100Thash which is much more reasonable.

If we assume 1Ghash per watt then 20Thash and 5000usd a month would mean 0.34usd hosting fee per kilowatt. That is a really high fee for a data center hosting. For example 100Thash bitfury project has 5000usd hosting fee for 100Thash which is much more reasonable.

If we assume 1Ghash per watt then 20Thash and 5000usd a month would mean 0.34usd hosting fee per kilowatt. That is a really high fee for a data center hosting. For example 100Thash bitfury project has 5000usd hosting fee for 100Thash which is much more reasonable.

Can you explain how you got the 0.34 usd?

Cryptx,

Awesome news! 

The bitcoin investment market is interesting right now as most people are playing the labcoin/activemining movements at the moment and don't want to tie their investment funds up in a security that can't really increase in value until ~ 5000 more btc are invested.  There really isn't much penalty for investors to wait until the 28th to buy.

Notice how the FUD stopped once you clarified the 10,000 share release scheme?  Everyone was trying to keep others from investing because they wanted the 20TH dividends split fewer ways. I personally don't care for those games as I've invested the amount in PETA-MINE that I want to hold long and I have different funds I'm playing the short game with.

Don't take the lack in volume to mean lack of interest.  You're doing a great job with this security, keep it up!

In the end there is a lot more to consider apart from the costs itself. We have chosen to eliminate all manageable risks concerning delays in deployment. One of these risks concerns shipment and customs. We personally pick up our chips and do not let them out of our site until they are safely hashing in our datacenter. You will never make up for the delays you can encounter with shipping or customs. We can still reconsider when the time comes that electricity cost outweighs anything else.

We also like to have our mine close, so we can keep an eye on it. When a problem occurs we can intervene immediately without relying on a third party. We can easily and fast deploy, expand and monitor.

About the costs itself, there is a fixed cost and a variable cost. When we start the mine the fixed cost will be at the highest per GH and will only decrease when we expand. For example at 100 TH/s, we are nowhere near the 0.34$ mark.

UPDATE 09/09/2013

CRYPTX BUYS DATACENTER

CryptX is pleased to announce the purchase of its own datacenter.

The datacenter has an initial power capacity to host 300 TH/s of Bitcoin mining equipment. The capacity can be expanded if necessary. The electricity costs can be kept at a minimum due to our on-site solar plant of 350,000 Watt. The first deployment of 20 TH/s at the end of September has a monthly total cost, including electricity, maintenance and hosting, of maximum 5,000$.

The purchase of the datacenter is the second milestone in the development of the PETA-MINE. This enables CryptX to run the mine very cost efficient.

Hm... what does such datacentre cost? I mean you pay it while collecting. Can you use the IPO-Bitcoins already? If you did, can you refund shares when IPO fails?
When i first read that news i thought its strange. Buying things with a not yet successful IPO. Is there a datacentre bought at all? Dont get me wrong, i have not a small amount of shares, but such things make me think.

We have spent none of the BTC's from the IPO.
The Datacentre units were bought with private funds of CryptX. The solar plant (350.000 Watts capacity) and the warehouses were already our property.

From our motion:

After 27 September 2013, we won't issue new batches of 10,000 shares. The IPO will continue to run until the last issued batch of 10,000 shares is sold. For example if 6,000 shares are sold on 27 September, a maximum of 10,000 shares will be issued. For example if 15,000 shares are sold on 27 September, a maximum of 20,000 shares will be issued.

We will deploy the 20 TH/s even if the first batch is not sold out at the start of hashing.

Ok, but this last sentence now makes me worry even more. I mean even without a successfull IPO you will deploy 20TH? Is there an IPO needed at all then?

Hm... what does such datacentre cost? I mean you pay it while collecting. Can you use the IPO-Bitcoins already? If you did, can you refund shares when IPO fails? When i first read that news i thought its strange. Buying things with a not yet successful IPO. Is there a datacentre bought at all? Dont get me wrong, i have not a small amount of shares, but such things make me think.

Ok, but this last sentence now makes me worry even more. I mean even without a successfull IPO you will deploy 20TH? Is there an IPO needed at all then?

Shareholder Protection

The IPO will prove successful with the sale of at least 30,000 shares. If fewer than 30,000 shares sell within 30 days, CryptX will refund the entire IPO to shareholders. What’s more, the fact that no shares beyond those offered at IPO will ever be issued means shareholders need not fear dilution of the value of their shares.

CryptX will invest in an additional 20% hashpower for every share sold. All mining revenue from this additional 20% will go to public shareholders until the initial investment of 0.65BTC/share is recovered in dividends.

CryptX will regularly update all relevant information about the PETA-MINE so that shareholders can evaluate the performance, capital outlay, and future of the project. It will make this information available through a regular shareholder newsletter, periodic updates to its website (cryptx.com), and a forum it will create on bitcointalk.org dedicated exclusively to CryptX news.

CryptX will pay weekly dividends to shareholders amounting to a percentage share of ownership in the PETA-MINE. CryptX will not change the direction or goal of the PETA-MINE without shareholder votes as per the statutes of BTC-TC.

Shareholder Protection

After 27 September 2013, we won't issue new batches of 10,000 shares. The IPO will continue to run until the last issued batch of 10,000 shares is sold. For example if 6,000 shares are sold on 27 September, a maximum of 10,000 shares will be issued. For example if 15,000 shares are sold on 27 September, a maximum of 20,000 shares will be issued.

CryptX will regularly update all relevant information about the PETA-MINE so shareholders can evaluate the performance, capital outlay, and future of the project. It will make this information available through a regular shareholder newsletter, periodic updates to its website (cryptx.com), and a forum it will create on bitcointalk.org dedicated exclusively to CryptX news.

CryptX will pay weekly dividends to shareholders amounting to a percentage share of ownership in the PETA-MINE. CryptX will not change the direction or goal of the PETA-MINE without shareholder votes as per the statutes of BTC-TC.

cryptx: is http://www.asic-hardware.com/ a part of PETA-MINE and are the sales for that site beeing relevant for the dividend? if so, can you explain it a little bit (i.e. how much of the turnover is relevant for the dividends / what's you long term plan behind this etc.)?

or are those two different businesses?

Thanks!

The revised contract is available for review since september 7 (see motion on BTC-TC) and currently has +70% approval. All shareholders received a separate email for that and a link that highlights those changes ( http://www.diffchecker.com/j0dofqjs ).

PETA-MINE Deployment Date

First deployment is scheduled for the end of September 2013. The CryptX management team is well aware of the importance of timing the mine’s deployment. It is also aware of the very poor track record of meeting time schedules in the Bitcoin mining space and recognize that potential sources of such delays include chip failure, PCB failure, or chip delivery problems. CryptX will protect PETA-MINE shareholders against such delays by adding 20% additional hash power for each 30 days the company exceeds its target deployment date.

-snip-

I'm sorry, but this addendum to your contract in current motion status made me chuckle.


The headline for the given section reads "Deployment Date", yet no specified date is given. Just end of September. How is additional "free" hashrate supposed to be added 30 days after missed deployment date when there is no deployment date?

And for shareholders who have skimmed over Creativex's post regarding shareholder protection, I suggest you go back and read his concerns.

If the motion passes, PETA-MINE's IPO can NOT fail. Perhaps some additions such as the 20th of bitfury chips/gear appear beneficial, but thats looking at the short term imho.

It seems the opportunistic manipulators don't realize that when they admit to manipulating it decreases their effectiveness at manipulating.

This is nothing compared to PETA-MINE. Gonna need a truckload of smelling salts over there.

Creativex has admitted to trying it here.

It seems the opportunistic manipulators don't realize that when they admit to manipulating it decreases their effectiveness at manipulating.

Listen guys, I'm at work so I'll join you all later....

Don't start the party without me,  it's gonna be a whole lot of fun!!   :-*

So many sheeple, I can't help myself.

blah, blah edit...
The IPO will prove successful with the sale of at least 30,000 shares. If fewer than 30,000 shares sell within 30 days, CryptX will refund the entire IPO to shareholders.

.. blah, blah

This is nothing compared to PETA-MINE. Gonna need a truckload of smelling salts over there.

I'm actually torn on the issue for this stock as it's in my best interest for 10,000 shares to be sold before the IPO completing on the 27th and not 10,001.  If the 10,001st share is sold prior to the IPO finishing then an additional 10k shares will be issued thus suppressing the value of the the existing shares until the additional 10k is sold.

It's in my best interest to stay silent, but that would be the same as supporting the FUD.  For that reason I've decided to call out bullshit when I see it.  I just hope this doesn't lead to feeding the trolls and promoting the very behavior I'm trying to suppress.

I'm not interested in tricking other shareholders into market selling for my own profit and when I see others do it I lose respect and the tone comes across in my responses.

So I take it IPO shares are at .66 now?

Seems like volume continues to stay up there while outstanding shares remain the same.

Will you have some pics of the data center once youve finished getting everything ready sans miners?

Chips already on the board?

These are pictures of the proto-type boards. Mass production starts next week in Germany.

Did i miss something? Why is trading of this security forbidden now at btct.co?

No problems here, I just posted a test-order without any issues.

Probably should just configure your public BTC address.

Ill keep my shares and wonder about all the other shares crashing. I dont have a clue why they all do it at once. Before bitcoins wandered to other securities, now they all go out.

Every time a large IPO is released, people sell their existing assets to invest in the new security.  The larger the IPO the more of a sell-off you will see.  Generally it's a good idea to have some btc available for when these sell-offs occur.

I personally wouldn't invest in NEOBEE, but others seem willing to.

It's going to be a while before they sell that wall.

IPO runs to November, so plenty of time. This is one of those very rare occasions where I decided to invest some btc not for short or medium or even long term gain, but for the good of bitcoin itself. It's just a fascinating proposition and potentially primed to succeed in a market where traditional banks are at their weakest (in terms of public opinion and trust). This could be something of a breakthrough for bitcoin if it all works out.

IMPORTANT NOTICE TO ALL BTC TRADING CORP WEBSITE PARTICIPANTS

As a result of recent changes in the virtual currency regulatory environment, the btct.co and litecoinglobal.com virtual stock market websites will be closing down.  The following is our current schedule:

Approximately a week ago, both sites were closed to any new users and new asset creation was disabled.
 
Effective immediately, in conjunction with this release, trading will be halted, all order books cleared, and trading re-enabled.
 
October 7, 2013, all forms of secondary market trading will be halted on both sites.
 
Approximately October 31, 2013, both sites will be taken offline.  It is strongly suggested that participants take the following steps to protect all of their virtual assets:
 
All participants should take steps to transfer all of your BTC and LTC (and any other data you wish to keep, such as CSV trade histories) held on the sites to your personal computer or another trusted site.
 
All participants should make sure that their public BTC or LTC address is properly set in the Account page on the Settings tab whereby it can be shared with all issuers.
 
All “issuers” should have the contact information concerning their “investors”, and we ask that all “issuers” communicate with their “investors” as soon as possible as to how they will ensure that all are treated appropriately.

We regret this development. However, we want to do everything we can to minimize problems arising from this transition.  It is our goal to keep this shutdown orderly and calm.

Thank you for your participation, creativity, loyalty and sense of community over the past year.  Additional communications will follow as we work out the details.

Ethan Burnside
BTC Trading Corp.

??? BTC-TC is closing.
CryptX, what's the plan now?

You may not have my info.  I just set my withdraw address.  I hope you guys update your info again as the withdraw address is the only thing really identifying shareholders.

BTCT asset issuers have access to shareholder-lists containing:
- email address
- number of shares
- public BTC address (new feature, if you haven't set this yet, do so quickly)

With this information it is easy (though still requiring some work) to link people to their shares.

Ok, this is correct.  What bothers me, though, is that cryptx claims he has all our info when I know for a fact he does not have mine since my public BTC address was not set.

We have all info we need to link the amount of shares to the owner of the account. I did not claim we have the public BTC address.

CryptX, if I would buy some more right now (yes, it's still possible), will you still get the updated information from BTC-TC?

Yes, every 12 hours we receive an update about all shareholders.

THERE IS NO CLOSURE DATE

You deleted the closure date by shareholder vote. When I warned you before hand you called it FUD.

Shareholder Protection

After 27 September 2013, we won't issue new batches of 10,000 shares. The IPO will continue to run until the last issued batch of 10,000 shares is sold. For example if 6,000 shares are sold on 27 September, a maximum of 10,000 shares will be issued. For example if 15,000 shares are sold on 27 September, a maximum of 20,000 shares will be issued.

Shareholder Protection

The IPO will prove successful with the sale of at least 30,000 shares. If fewer than 30,000 shares sell within 30 days, CryptX will refund the entire IPO to shareholders.

Status update:

• No more blocks will be issued, we will sell the remaining shares of the first 10,000 share block.
• We are applying for a listing on Bitfunder.
• Boards are in production/assembly right now, a first batch will be deployed at the end of the week.

Boards are in production/assembly right now, a first batch will be deployed at the end of the week.

BF no longer such a good option following the recent announcement.

Frontpage Bitfunder

tl;dr;
US citizens will be blocked

Status Update

- We are still in the process of applying for a listing on Bitfunder (also looking at other alternatives like cryptostocks, picostocks, havelock).
- More info about deployment of first 20TH will follow later

We apologise for any delay in info as we are focussing on finishing assembly of boards and further deployment as fast as possible.
Comments on preferred exchanges are welcome. Our preference goes to Bitfunder, but application is taking a long time. We expect listing on cryptostocks won't take long but are not really familiar with the people behind it and if the platform is stable / trusted.

Status Update

- We are still in the process of applying for a listing on Bitfunder (also looking at other alternatives like cryptostocks, picostocks, havelock).
- More info about deployment of first 20TH will follow later

We apologise for any delay in info as we are focussing on finishing assembly of boards and further deployment as fast as possible.
Comments on preferred exchanges are welcome. Our preference goes to Bitfunder, but application is taking a long time. We expect listing on cryptostocks won't take long but are not really familiar with the people behind it and if the platform is stable / trusted.

CryptX will provide the following services to shareholders:

A hosted Bitcoin mine with a capacity of 1,000 TH/s: This mine will earn Bitcoins. The company will pay 65% of net Bitcoin revenue to shareholders in the form of a dividend.
Regular expansion of the PETA-MINE: 35% of net Bitcoin revenue will be reserved to deploy additional TH/s.
Hardware sales: CryptX will distribute net revenue from any sales to shareholders and reinvest in new equipment at the same 65%/35% distribution. The company will also replace its mining blades with more efficient ones if necessary.
Mine ownership: The shareholders are 100% owners of the PETA-MINE; ownership includes the hardware.

CryptX will protect PETA-MINE shareholders against such delays by adding 20% additional hash power for each 30 days the company exceeds its target deployment date.

DO NOT USE HAVELOCK

Their fees are a rip, they are not decentralized, they may be subject to regulation anyway completely defeating the purpose.

Easy solution: Colored Coins. [coloredcoins.org]

PETA-MINE listing moves to Cryptostocks.com
Dear Shareholder,

 

We are pleased to announce the continuation of our asset PETA-MINE on www.cryptostocks.com.

For swift transfer of your shares to cryptostocks.com, create an account on cryptostocks with the same e-mail address you used on btct.co. We will transfer your shares to your new account. Please inform us by e-mail (info@cryptx.com) when your account is created so we can transfer your shares.

You will receive 10 times the amount of shares you owned at btct.co as we initiated a 1 for 10 share split.

Each share represents 1 GH/s of hashing power. CryptX has invested in 20 TH/s of hashing power, all mining revenue from this additional 20 TH/s will go to public shareholders until the initial investment of 0.065 BTC/share is recovered in dividends.

A first dividend of 300 BTC will be paid on 18 October 2013.

 

Regards,

CryptX

Gee, cryptostocks :-/

So, based on the 10 x 2313 shares outstanding on btct + 11 new shares sold on cryptostocks, we can expect to see 300 / (23130+11) ~= 0.01296 btc dividends per share this friday?

Why are the remaining available shares being sold at 0.065 btc, instead of 0.066 btc?

Actually, since the IPO hasn't completed, how would the plan to return 0.065 btc of the initial investment in dividends work out?

Has anyone compared the last version of the contract on btct with the much shorter version now on cryptostocks.com?

Lastly, to me, it looks approximately correct that 65% of the mining revenue till this week of the initial deployment of 20 TH/s (ramping up slowly since early Oct), comes up to 300 btc.  Does this look right to the rest of you too?

cryptostocks eh? read the post below:

https://bitcointalk.org/index.php?topic=49383.msg3110924#msg3110924

stealing dividends,getting root hacked,loosing 2500BTC....
good choice

...
Lastly, to me, it looks approximately correct that 65% of the mining revenue till this week of the initial deployment of 20 TH/s (ramping up slowly since early Oct), comes up to 300 btc.  Does this look right to the rest of you too?

Cryptx, any chance that dividends could be paid directly to public addresses until the above can be vetted? 

Dividends will automatically appear in shareholders’ Bitcoin wallets every Friday around 15:00 GMT

Looks like (luckily) he will:

Dividends will automatically appear in shareholders’ Bitcoin wallets every Friday around 15:00 GMT

Well, to be really transparent about this, we would need a look at the mining address...