So CEX's price per GHS is ~0.00627.  Since Peta is now pretty much equivalent to CEX in operation, the current price of ~0.003 for a Peta GHS is a bargain!!

The Peta maintenance fee is lower by my calculations as well:
CEX = 20c per GHS / Month
Peta = 16.4c per GHS / Month (Based on 1150TH @ $625 / BTC)

So I heard back from the PI today:


So, that pretty much clinches it then; this license is a fake and is proof that this was a scam from the start.

For what it's worth, I have posted a copy of the license below.  I apologize for the poor quality of the image.  When I originally negotiated with 'Tom' for him to reveal some form of official ID to me.  He was extremely reluctant to do so (sighting fears that the SEC could somehow get hold of it - however remote the chance), so as part of the concessions on my part, I told him that he could obfuscate any detail he liked other than his name and address and that I would securely delete the file after I had viewed it - which I did.  However, before I deleted it I printed it off on a laser printer (in hindsight I should have printed it on a higher quality printer, however, I was not expecting any issues and only printed it off as a 'just in case').  The image you have is a scan of the B&W laser print of the photo that Tom sent me of his DL - hence the quality issues.



So I am going to call the PI in the next couple of days to discuss the whole situation and get his views on what we can do from here, but TBH, I think they've got away with it clean.  I still have a couple of minor leads to chase up, but I don't hold much hope of those getting me anywhere.

To 'Tom' & 'Jeff' et al:
I know you will be reading this, hoping that I haven't stumbled on some crucial piece of information which may reveal who you really are.  I'll give you this much; you ran a very believable operation and convinced a lot of people that you were legit, however, while you've got away with this scam, criminals like you tend to have very nervous dispositions, sleep with one eye open and feel the need to constantly look over their shoulder.  It saddens me that you feel the need to put your hand to such low down schemes such as this in order to feel 'successful'.  Unfortunately, the only thing you succeeded in achieving is to steal the hard-earned money of your honest shareholders, who's worst crime was taking you at your word.

I challenge you to get up right now, go stand in front of a mirror, look yourself in the eye and ask yourself if you're ok with what you've done.  Ask yourself if you really want to be the kind of man who takes advantage of others, who lies, steals and steps on other people for his own gain.  If your answer is 'no', then it's never too late to make amends, but if your answer is 'yes', then I truly fear for your future, because the road you are on only leads to one destination; destruction.  When you finally find yourself facing the consequences of your actions, maybe not any time soon, but trust me, you will face them, think back to my words and my warning and lament that you didn't change your path then, back when you had a choice.

And beware; because karma's a bitch!

Could I please get some clarification on what all this means for small buyers in terms or price / capacity?  ie; how much will a single DTMA unit now cost, what hashing capacity will it represent, and what will the OpEx costs be?

Another question is; what will we be 'buying'?  Will this be a purchase of mining gear, rental, shares representing earning capacity?  What kind of resale/onsale options will there be?

Also, I realise that this is very early days, and you may not be able to give me an answer at this point, but do you have any ideas on a ballpark timeframe for units to be ready for sale?  I assume it will now be quicker than the originally estimated 3-6 months?

Thanks.

Ok, heard back from PI; it appears that he has a specific contact that he deals with at the DMV, who may be on leave at present.  He will give it another day and then try someone else.

No update from the PI today.  I have emailed to confirm.

LOL dude, you must hold the record for 'most accounts locked out of'

Can't you reset your password via email?

Well, that's what he told me.  Maybe this is due to the holiday weekend as Chef Ramsay suggested?

Got another reply back from the PI regarding timing for the information regarding the license; "should be Monday".

He also sent the following:

So not a particularly good sign, but we'll see what comes back from the DMV.

I just received a reply from the PI I sent the license information to.  He has sent the information to the DMV and expects to receive a reply 'next week'.  I have asked him if it is possible for him to give me a more specific timeframe and I will report back when he replies.

So, if the latest vote passes, I'm guessing that this now means that there will be no future increases in total hashing power?  Does this mean that Peta is now equivalent to CEX in terms of operation? 

Does anyone know if CryptX is planning on adding any more capacity in future and creating new POs?  If so, I imagine that the price per GH & therefore per share will decrease accordingly.

This is certainly an interesting development which potentially changes the game significantly.

+ Eleventy Billion!!

Just rang the PI - No answer.  Left a voicemail for him to contact me.

Thanks StakeHunter, I appreciate the feedback.  Hopefully we can get some confirmation on the ID soon!!

Unfortunately the PI hasn't returned my emails since my last post here, which is odd, because previously he was very responsive.  I will try to get hold of him by phone tomorrow morning my time (+12hrs from now).  Unfortunately the timezone difference between me and him means that there is only 2-3hrs of overlap when I can ring him during business hours.

If this PI doesn't respond soon, I'll fall back to the other one I checked out earlier.  He's more expensive, but hopefully also more responsive!

Thanks Deadwood, I pretty much agree with everything you're saying.

No contract was signed.

I'll definitely keep you posted on how things are going.

I have decided that a Private Investigator located near the address on Tom's license is the best option for verifying his ID and have sent off the license details to him.  Hopefully we will hear back from him soon.

Just a quick update on progress (or more accurately; lack thereof unfortunately).

Tom's ID Verification
I am waiting to hear back from one of the parties who can provide this service, and then I can make a decision on the best option moving forward.  Regardless, I will make a decision tomorrow night (my time; 24hrs from now) and then get this moving.  Once I give the go-ahead, we should hopefully get some results back fairly quickly (within 48hrs).

Domain Contact Information
The domain privacy company have now said that they require some kind of 'legal notification' before they will reveal any information, which is both disappointing, and contrary to what is written on their website.  So unfortunately we'll have to put this on the back-burner for now.

I'll keep you posted on my progress (or further lack thereof!)

Well, whatever the scenario, I want to give them a chance to explain and I think we need to at least try to get some kind of answer.  Refusing to answer at all might actually still tell us something.

Thanks.  I imagine the PI would know this tho.

Yes, I was thinking that would be a good idea.