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I don't see why it would be in cryptx's interest to buy back ~14000 shares from the market and destroy them. Where did that money come from?
Speculating, was the bitmine contract paid for with shares, and the risk of further delays removed by cancelling the contract and recovering the shares?
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And when mining DOGE, there is also variance in block rewards!
Variables, Schmariables...
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Let me give it a go. Innosilicon A2 boxes run at 150MH/s consuming about/under 1kW. SCRYPT-X1 miners run at 85MH/s, so should consume under 600W each. 2GH of these miners should consume about 14.1kWh. Cryptx charges $0.25/kWh, so weekly overhead fees should total 168 hours * $0.25 * 14.1 =~ $600 We are currently mining DOGE since it is more profitable than LTC? Plugging these numbers into the Dogecoin mining calculator at http://www.coinwarz.com/calculators/dogecoin-mining-calculator indicates that 44 BTC would remain after subtracting overheads. Let's go with cryptx's 50% reinvestment rate as per prospectus forecast, so 22 BTC is left in dividends. Divide by 30k shares for 0.0007333 I don't know why I ended up with lower figures despite the assertion than DOGE is more profitable. |
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@CryptX, by my calculations the retail cost of an 86MH A2 miner from Innosilicon is around US$0.12 per KH of mining power for purchases of 10 or more units (admittedly without freight). However, the Scrypt-X share pricing above works out to a price per KH of ~US$0.16 (at US$420/BTC), or a 33% premium. What is the reasoning behind this difference in price?
At curent prices you would pay 163.4 usd per MH for the first 10.000 units. (much more if btc will rise)
* You are buying shares of a managed project, not plain hardware I believe the management fees to be built-in to the $0.25/kWh fees. This should nicely account for management fees as it varies with increased hash rate. I thought it likely that you are hedging against a fall in exchange rates, since shareholders expect to get at least 100 KH/s regardless of the exchange rates. If so, I thought it better to promise a hashrate based on a formula against the exchange rate at the time of exchange, rather than eating 33% in fees up-front. You could still take a reasonable fee and remove your risk at the same time. |
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I think we already know these. Thanks for the offer.
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Nevermind learning Chinese... Where are these Chinese forums where AM news is being discussed?
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xhomerx10 is helping to coordinate the complaint effort. That email address goes to xhomer10. So all's well.
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+1. The "hold-up" is to include more of the affected parties (you and me) in the complaint. So if you are affected, please contact xhomerx10.
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No wonder havelock has been stepping into this topic over the past weeks...
Clearly though, a working hack would be worth far more than BTC10, but I do appreciate havelock's attempt to clear the air over empoweoqwj's case.
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The person I was running the pass through held the 5 shares and did the payouts... now they have gone all quiet and left the share holders all in the dark and no dividends or anything.
Am I the only one that is curious as to who this person it? |
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I don't think anyone should be surprised to see extremely low (or no) divs until Gen3 rolls out.
The thing I worry about most is if FC is still 100% committed to AM or if he has developed a competing side-business that is unencumbered by external shareholders.
I know FC denied involvement. But the competitor similarities in hardware (Bitmain) and in mining behavior (Discus Fish) remain striking. So I feel we've only been told part of the story.
I've been thinking about this too, but what keeps from panicking too much is the amount of AsicMiner shares owned by Bitfountain. I think that screwing us keyboard shareholders would be one thing, but screwing the Bitfountain ones would be much more messier. Who is Bitfountain, actually?  And, if you worry that Discus Fish is FC's side business, why not worry that Discus Fish might actually be Bitfountain's side business? |
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there is no direct conversion path from AM100 to AM1. You may sell your AM100 and use the proceeds to buy AM1.
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Why, from ASICMINER of course. delivery in Mar! |
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So, did ABI take up bitcoinmiami on his idea to be more transparent without getting outed? Was he even a bit interested (har har)?
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? If hosting costs USD 10k/mth, at current exchange rates, that is 12.5 BTC and can be recouped using half of the current block reward.
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Havelock's post brings up an interesting point. "Prior to the offering, no public market existed for these units." PETAMINE existed on BTCT, before moving to Cryptostocks and followed by Havelock. The BTCT IPO started with a certain prospectus which became the contract. This contract was modified through a shareholder vote, and the text of the original and modified contract are archived in https://bitcointalk.org/index.php?topic=310783.msg3339035#msg3339035. If there are substantive changes in the contract which had not been put to the vote, should they be valid? |
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cryptx said somewhere that he had also placed orders for the hashpower corresponding to the "unsold" shares. In my mind, that means that he has effectively bought them at IPO-time. As per the original contract, I think these shares should not enjoy dividends from the bitfury miners or capital protection (which no long exist anyway), but cryptx is free to dispose of these shares however he wants, otherwise.
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If we want the PETA-MINE to succeed and to grow to the biggest public mining operation, we have to make decisions and close contracts months in advance. We have already made arrangements which make it possible to deploy the extra 2.4 GH/s for every share that is sold in the IPO of the last 36,504 shares. If we did not make these contracts in advance, we would have to search the market for pre-orders at the time of the IPO at a much higher cost and at a much later delivery date.
?? In that case, perhaps the IPO should be considered over. You have effectively bought up the remaining shares yourselves, and you can choose to sell them at whatever price. |
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I've applied to the google group, and sent the required PM.......48 hours, still no reply or acceptance........
I can assure whoever is running the group I'm NOT connected to creativeX other than the fact that I live in Michigan and he fucked over on 200 shares. I've also been a member here for almost 2 years.
There's no point applying directly to the group since there is no way to tell which bitcointalk user that is. Do drop bomb a pm with the email address you wish to use for access. |
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