I do believe your questions are answered here: https://www.havelockinvestments.com/fund.php?symbol=AM100

TL;DR: No, No, No.

I figure that the typical part buying process is that they will stumble upon several incorrect items before finding the correct part.  If the # of items on your ebay storefront is limiting potential part sales, would this help?

- adding a message to item descriptions that you have many items than are listed, and to send you a message with the part they're looking for so that you can list it; or
- adding a link to off-ebay website with a list of parts that you typically have (not sure if this violates ebay t&c)

There seems to be some contention about whether friedcat attended that mining forum.  I figure that if the yixia video shows his presence, someone should be able to point him out.  Ergo, the yixia video did not show him attending the forum.

I think that is not friedcat, but one of the bitcoin journalist/entrepreneurs who visited the immersion cooling farm?

So what does the fried one look like?

Hmm.  That looks like 32 chips, running at 340GH/s and 396W?

Yeah, it doesn't look very good to me, especially considering how lumpy the dividends will be.

Has anyone put together a dividends history?  I've already taken available dividend data from Havelock's AM1 and BTCT's ASICMINER-PT but that doesn't go back before 2013-03-06. 

Also looked at 115tTroRo3B9ZDQ6ATJGDCHcNEVbjJoZnF (this is the dividends address right?) but strangely that only goes up to 2013-02-24.

@binaryfate, necro_nemesis: thanks, i knew it couldn't have been 2.5 chips in there

@Fordee, how does your optimism support the share price if the forecast dividends for the first 3 batches (with the fattest profit margins) totals just 0.18, and with no gen4 in sight?

Thanks mate.

I may be a bit thick, but how do we actually view the 'scryptx' stats on Wemineltc?  Direct url would be preferred.  Is account registration required to view stats?

My memory eludes me.  Gen3 chips hash at 10GH/s right?  https://twitter.com/RockMinerInc/status/456327219724312576 says the R-box is 4-chips at 40GH/s, which sounds about right.

Then, why does the miner at https://twitter.com/RockMinerInc/status/461891800907522050 hash at 24.6GH/s?  2.5 chips???

You want to know what's really depressing?
I've figured out the rough formula for the loan amount and why it was not provided.



I don't see how batch 1 will sell out.  But if it does,



With 688 units sold at IPO, it will take 5 weeks to repay the 1376BTC loan.

It seems manifestly clear that 2.4 GH/s on 1st Jan >> 8.68 GH/s in two weeks (tm).  Heck, 1 GH/s on 1st Jan > 8.68 GH/s in two weeks.


This is the truth.  Unfortunately, it still appears to be the truth after IPO.  The reason dividends were going up was due to initial deployment not because reinvestment could keep up with difficulty rise.  Leaving the reinvestment rate alone means investors lose less, and you still make a healthy profit.  

cryptx just confirmed that the IPO hash rate is fully deployed.  Good job!

Would still be nice to get the hashrate stats on a webpage.

And I guess Sean's Outpost wins.

I just realised that open market trading is suspended during the IPO.  I hope you have all reached your desired positions before that happened.

@cryptx, your prospectus indicates that reinvestment will continue, and the loan will be repaid from dividends.  If the  prospectus is badly worded, and the intention was for the 'loan' to be repaid from dividends + reinvestment, things do look a bit better.  

Still, the mine hashrate would not be growing during this time, and my projection suggest that the dividends through end-2014 would be unattractive (to me).

If you sell 25000 units (2425BTC), you ask for 350 repaid.  If you sell 17500 units (1681BTC), you ask for 685 repaid.  If you sell 10000 units (950BTC) you ask for 1009 repaid.  If the IPO does not sell at all, how much will the loan be?

Why don't you forgo the IPO, and just take 1424 BTC of repayment from the reinvestments instead, and continue paying out dividends throughout?  (I still have no idea how you came up with 1009 BTC figure)

To those wishing for 0.0015 dividends to continue until the loan is repaid, this is how it might look like with a 1000btc loan to be repaid from reinvestments.  


Or, for the 0.0015 dividends to continue thereafter...  I stopped after Sep cos this chart is too painful.


As cryptx said, the spreadsheet is there.  Plug in your own figures and see if the mine can be saved.

I really don't see why the argument.


Using cryptx's own spreadsheet so that nobody argues about the hosting fees, reinvestment calculations, BTC exchange rate, etc etc..  All I'm changing is the rate of growth of network hashrate to 10PH per interval, from cryptx's 6PH projection.  Yes, it's linear, so the rate of increase may easily be far, far greater.  At least this choice should appease people who point out that hashrate cannot rise exponentially forever.



- If the IPO doesn't sell at all, the loan amount could potentially be 3760 - 150 - 300 = 3310 BTC. 

- if a 1000BTC "loan" is taken from cryptx, it will only be fully repaid from dividends in Aug '14, and shareholders finally start getting lean and fast-declining dividends in Sep '14.  I don't know how cryptx calculates it, or how the loan amount is merely 1009 BTC if 10000 shares (950BTC) are sold at IPO.

- I don't see why the IPO will be bought up if the dividends quickly trend towards zero before reaching ROI, and since shares on the market are cheaper.

- Note how % network still drops during the first few periods of heavy reinvestment.  This shows that the reinvestment strategy is still futile at this rate of network growth.

We should now agree on how horrible the outcome is even with a linear 10PH increase.  Perhaps certain anonymous people will claim that 10PH is way too much.  ASICMINER has indicated expected delivery of 109PH of chips shortly.  That's just one manufacturer.  How about the rest?

So the question really is what you think the network hashrate / difficulty growth will be.

I don't think we should argue about other possible factors such as BTC exchange rates because these are the same figures as in cryptx's projections.

I also don't know whether other cloud mining operations can be sustainably profitable, but that isn't the point we're discussing.

I don't understand why your hosting fees are going down (and so far below cryptx's own estimates) while the peta hashrate is going up.

If you are basing this on BTC exchange rate going to the moon, why not add the column for the exchange rate, so that this best case scenario is compared against holding BTC instead?

I've not said much previously, but I've unloaded my shares.

Estimates that dividends could repay cryptx's loan by X date are woefully short, because of the huge reinvestment % . Dividends don't resume when sum(dividend+reinvestment)=loan.  Dividends resume when sum(dividend)=loan.  The reinvestment just goes towards growing PETA's hashrate, which directly contributes to cryptx's bottomline.

So, would the attempts to reinvest help to keep up with the difficulty?  Let's just look at ASICMINER, who will produce 100+ PH and dump them onto the network in the next few months.   Let's say network hash rate doesn't grow exponentially.  But instead of PETA's estimate of 6PH per 10 days, it grows by 10PH per 10 days.  

Make a copy of cryptx's spreadsheet at https://docs.google.com/spreadsheet/ccc?key=0AjI5bgsiFJAidHgwa0UyTHNEVG1lbDdvN2FMTExvOHc&usp=drive_web#gid=32 and change Col B to add 10PH per interval.  If the first IPO batch sells out, shareholders will only see dividends in Sep.  If the IPO does not sell at all, dividends will be seen in Dec.  All while the mine is steadily growing in hashrate, but absolutely not keeping up with the network.

I've asked various questions of cryptx before, and they were never answered.  My conclusion is that he is not making decisions in the interests of shareholders.

Thanks cryptx.  I think it's fair for you to choose the reinvestment ratio that you deem to be in the best interests of shareholders.

Since we don't have mining statistics, like PETA had when running on eligius, can you shed some light on the following so that we can understand whether we had bad luck or our miners eat power?

- I assume that SCRYPT-X1 miners are at least as power efficient as Innosilicon's A2 miners, else we would be paying more than the market rate to build worse miners.

- On that assumption, 2.24 BTC of hosting fees are consistent with mining for a little over 1.5 weeks.  Correct?

- But the 1905 LTC or 44.40678736 BTC  mining rewards are consistent with mining for approximately 1 week.