Pirate's ponzi ran longer than that, and "paid" out higher fake profits.

For argument's sake, assume its 10% and cryptx 50% (too lazy to look up actual numbers), then the first one will keep paying out dividends until the network tenfolds,  while the latter would be worth virtually zero once the network just doubles. Thats why fees are so important, and what doomed peta from the start.

Thats not to say cex.io isnt obscenely overpriced, because it definitely is, even after the price crashed 60+%. It will keep crashing.

You guys are so predictable. Someone launches a mining asset that clearly can not yield a long term profit if it does what is described in the prospectus. Expose that and you get labeled a paid shill/troll/whatever.

Once it becomes clear it will indeed not produce that profit, even though the asset issuer has done exactly as promised in the prospectus (okay, except for the p2pool vote), they get labeled as scammer.

Cryptx didnt scam you. He provided what he promised. And what I predicted. If you lost money on this, you only have yourself to blame for it.

Its called a rally.
At least in this thread :p.


Define cheap.

Thing is, dividends are all but irrelevant at this point. It will amount to almost nothing from here to eternity. But cryptx still owns hardware thats worth something. Question is, will he hang on to it, lowering his fees if need be, until its worth virtually nothing or will he close this security and sell his mine in the next month or so? Buying at pretty much any price IMO is a bet that PETA mine will close fairly soon, and that he will manage to actually sell his hardware, which may be tougher than for most, considering his burnt reputation by sending broken hardware.

Divs are in. Enjoy you bagholders

Reinvesments, aka using mining revenue from unprofitable mining gear to buy more unprofitable mining gear didnt make it better, it made things (a lot) worse. 100% dividend payout (after exuberant fees) was definitely an improvement; at least investors got some ROI, instead of potentially ~zero @100% reinvestment.

As for opting out of p2pool. I guess I would feel duped too if I had voted for it, but switching to p2pool would have done nothing to long term ROI, if anything, the extreme variability might well have cost you dearly.

Ive been predicting whats happening now for many months. It should surprise no one. By and large, hash rate growth is continuing its 12 month trajectory and is almost exactly as predicted. I didnt and couldnt predict the loan being converted to shares and switching to 100% div payout, which makes the return considerably better than before, but I also couldnt and didnt predict the BTC value drop, which makes things worse than anticipated. Both effects combined pretty much cancel each other out, and my numbers where spot on. p2pool would have done nothing other than hugely increase variability.

Bitcoin price dropping and gaining popularity are not mutually exclusive. I think both are happening and they are linked.

Nowadays you can actually spend your bitcoins in so many places, people who have a sizable stash have more incentive to actually use them. I know I do. I can now pay my home delivery pizza with bitcoin, my phone bill, my computer gear, my e-cigs, my 3D printer supplies, .. I could only dream of that a few years ago. So I do it. Of course all the places where I spend my coins, they use coinbase or bitpay and they get paid out in euro/dollar, so all my bitcoin purchases end up being bitcoin sales depressing the price, since IM not replenishing my stash. Im sure many (large) BTC holders are doing the same thing.

Funny rally. Price is    ฿0.001. -86% in three months. If thats a rally, I wonder what a crash looks like.

As for the delay in difficulty affecting dividends, of course there is significant variability too, but latest divs where 0.00000545. Thats a lot of zero's. It wont be long before havelock needs to add decimal places.

Wouldnt that just add to the frustration of seeing your precious bitcoins evaporate?

Yes. Possibly even more, depending on how the pool organizes the PPLN rounds and how many confirmations they need for determining maturity, how fast they pay out etc.

Regardless if you think (on average) div's are going up or even remain flat,  I have a bridge to sell. You are getting to the point where nearly 50% of the mining revenue is spent on fees. What do you think will happen to divs if average mining revenue drops by 20%? Hint: they dont just drop by 20%.

There is a delay between difficulty changing, and it affecting pooled mining revenue. Thats because blocks have to mature and because of PPLNS.

He does. Unless he dumped them all since, he converted the loan in to 4650 peta shares (x14 after split).
But he seems to be trying to get rid of them. Check the Scryptx updates, he is offering scryptx shareholders peta shares rofl.

You assume that point is still far away; it could be upon us in october. And the sooner it happens, the better, ironically.

Ive been away for a while, but AFAICS, new mining hardware is still selling for ~$800/TH. Used hardware isnt going to fetch the same price, especially not when its cryptx selling  as he utterly blew his reputation on that. And in two months, prices will have come down further, but lets optimistically guestimate cryptx could still fetch $300/TH. Thats ~0.6BTC at todays low exchange rate. Or 0.00062BTC per unit. Hardly trivial considering the current market price which isnt even twice that.

Of course, two months from here, its entirely possible BTC value will have doubled, which would reduce the miner's BTC denominated value almost proportionally,  and prolong the current flow of money towards cryptx fees while market prices per TH continue to tumble. Moreover I suspect cryptx will lower his fees once mining revenue is almost equal to minng fees, as its far more economical for him to continue mining (read: collect fees) than sell the hardware and having to hand out the proceeds.

And lets not forget; I didnt only predict that PETA shares would drop dramatically in price, I also made another prediction; I dont have a time line for that, but sooner or later, cryptx will face regulatory issues, and the impact of that could be very severe. Possibly very positive for IPO investors  (think Activeminer), possibly disastrous for everyone.

As predicted, it once again nearly doubled in 2 months.  

Time for some fun stats. At what point do peta divs hit zero (mining revenue  per GH <= $0.15/GH hosting fee) ?


At the current BTC exchange rate, somewhere around 340 PH or in ~6-8 weeks at current growth.
Or at the current network speed, when BTC would drop further to ~$300.

Accusing me of having a hidden agenda, while actually it wasnt me, but you that had a hidden agenda, doesnt qualify according to your dictionary?


Far from. NAV of a mining share like PETA is solely based on future dividends. Share price was always going to approach zero at some point, the only question was how long it would take and how much divs would be paid out before it happened. Either future dividends would be (far) below share price, which is the point I proved over and over, in which case, peta was a bad long term investment. Or I was wrong as you claimed and then future divs would match or exceed share price, in which case, a smart investor would hold on to his shares even if the price tanked. In fact, he would buy more.

You tried to ridicule my assumptions and math, questioned my motives and integrity, in reality its clear you actually agreed with the numbers and were not investing long term, just trying to flip some shares at a profit to a bigger fool, cex.io style. Hence, you are the hypocrite who was trying to mislead other investors. And the fool for having lost however much you lost.

No I am saying you are a hypocrite. You claim I post with a hidden agenda, when its clear to anyone I could not possibly have one, since you cant short PETA. You claim I post with several accounts, when I only have one, and dont see any point in using more.

OTOH, you clearly did have a hidden agenda and a double tongue. You claimed to be a long term investor, in reality the reason you wanted me to shut up and you posted FUD about me, is so you could sell your shares before the ship sunk completely. Having me opening other people's eyes is not what you wanted.

BTW, a long term investor would be after dividends, and not care about a 75% drop.  If you really believed it be a sound investment, you'd have bought more, instead of dumping.

Yeah why would I? DIdnt you just say a few days ago,  I got all my peta orders filled, so why would I try to talk the price down then?
I already told you I only use one single account, but if you are going to spread lies about me, at least try to be consistent mr "Long Term investor".

So basically the only real difference is pool variance, which is a non issue that evens out over time and if anything, is a con, not a pro. So why would anyone pay 40% premium for that?

What is the difference from an investor POV?