1680BTC, they must be paying out of their own pockets aswell to obtain 1PH
Not really. 2BTC for 1.2TH, shipping starts in 2 weeks: http://shop.rockminer.com/goods.php?id=35Thats 1.67 BTC per TH if you buy one unit. If you buy a PH and spread it out over 3 months, Im sure that price is negotiable. Of course you could buy some more peta shares instead. Currently a bargain, trading around 4.7 BTC / TH, excluding mandatory sky high hosting fees and with 50% of the mining revenue reserved to pay back a loan; and after thats paid back, 50% locked in to buy upgrades - probably at similar fantastic prices. Id hurry. |
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Now go back to december 2013 and use the data that was available at that time to make a similar forecast and see where that lands you.
The first batch of investors was temporarily saved by freebies that came at the expense of later investors. Is that a business model you think will continue, and is that what you are betting on? Because there is a word for that. Still, you are correct its useful to go back in time. Since no one here can seem to bother looking up gigamining, bitbond, puremining, BTC-Mining, BMF or * ANY* bitcoin mining security ever, lets instead have a look at Crytpx' own projections: https://docs.google.com/spreadsheet/ccc?key=0AjI5bgsiFJAidFdzOTk1aXl6cS1zNG1nck5OZjRBeXc&usp=drive_web#gid=0By his estimate today's network should be at 61PH. In reality its ~90PH. He was also expecting to mine 409.47 BTC / 36504 shares = 0.0112 BTC / share /week. In reality he achieved 402.33 BTC / 77492 shares = 0.0051 BTC / share /week.. Good thing he is gambling with your money and not his own. I think Im going to refer to Cryptx as "Mr 50%" from now on. |
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Why post charts where it shows we die in 10 weeks but fail to mention we will start reinvestment at some point
I guess thats the problem with pretty pictures, if you post pics, people stop reading  Because of the reinvestment, you will never realize the sum of dividends I plotted in that chart, you wont even get close. You werent paid the 0.0042 BTC first dividend shown there either, were you? THink of it as a best case theoretical scenario. Instead of 0.052, the sum of all divs will be ~0.025 (@50% reinvestment) plus whatever your "re"-investments will earn. How much will that be? If future investments are just as "successful" as the current one, each round will roughly cut the invested sum in half. So 0.025BTC mining revenues reinvested will yield 0.0125 in mining revenue, 50% of which will be paid out as divs (0.0062) the other half reinvested yet again to be decimated yet again. In the end that would yield an overall dividend of ~0.033 after an infinitive number of reinvestment cycles. Three cheers for reinvestment! BTW, to achieve a positive ROI in total, based on the same network assumptions, those reinvestments will have to be four times more profitable than the current one. Good luck with that. |
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Look at the "normal" companies and how much dividend they pay, even 10-30% annual dividend is really good return.
What "normal" companies have assets that devaluate on average by 7% per week? That is 3300% per year, that makes Zimbabwean hyperinflation look decidedly mild. What you are effectivelly saying is that mining is unprofitable and is bound to collapse unless you make your own hardware.
Im not saying anything will collapse, other than your bitcoin wallet. Nor am I suggesting in any way that cex.io is better. And Im not even suggesting anyone stop mining, I suggest you think before you invest more precious bitcoins in mining. BTW, you think it is coincidence virtually everyone arguing against me here has been around for less than 6 months ? People who have been around for years have seen this movie several times before and know how it ends. Sorry to be such a spoiler. |
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From the quiet words of young jeezy- scared money don't make no money!
From the louder words of an older bitcoin veteran: cold storage wallets dont lose no bitcoins. Almost everything else does, especially mining securities. |
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Made some pretty charts for you all. First, the network growth assumption I used. I based it on current 7%/ week growth and assumed it will decelerate by 3% / week virtually grinding to a halt by the end of the year. Pretty optimistic IMO, especially for the next 3-6 months which matter most, but here' goes:  So what happens to your cryptx shares in that scenario with no reinvestments, and assuming constant hosting costs:  After ~42 weeks mining revenue isnt enough anymore to pay for the hosting costs and the sum of all dividends will have peaked at 0.051 BTC. Of course thats ignoring the loan that amounts to a little over 0.01 BTC/share so actual dividends would peak at ~0.04 BTC if your dividends wherent hijacked for reinvestments. Speaking of which; if this round is not profitable, chances are the next rounds wont be either. In fact given cryptx' electricity costs and the rise of asic vendor private mines, I strongly suspect future rounds will be even worse rather than better. Either way, reinvesting will stretch the losses over a longer time but you end up with an even deeper pit unless you believe future investments will end up being > 2x as profitable than the current ones. |
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Talk about putting your money with ur mouth is hey lol next time don't open your mouth and offer bets you can't handle. If you can't handle 10 would u go 5? Lol
Are you a simpleton or what? My issue is not with the height of the bet, its that Im not going to bet even a satoshi that cryptx will fare different as activemining or gigaminng, especially not when Im in fact predicting something similar is bound to happen at some point |
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This is what Puppet is referring to:
Div Pay Day Div % Re-invest Repay
6-Jun 2.10% No Yes
13-Jun 1.95% No Yes
20-Jun 1.82% No Yes
27-Jun 1.69% No Yes
6-Jun 1.57% No Yes
4-Jul 1.46% No Yes
11-Jul 1.36% + ? Yes No
18-Jul 1.26% + ? Yes No
25-Jul 1.18% + ? Yes No
exactly, but there is one more thing: people here seem to think dwindling divs is ok because the share price will remain more or less constant or decrease at a lower rate. Of course in reality, once investors start doing some elementary school math they will realize that share value is directly correlated with future dividends and therefore will also decrease by ~7% per week without reinvestment. I wonder, is there anyone among cryptx investors who invested in gigamining 2 years ago? My guess is: no. Those people would understand by now, the rest of you will have to learn. |
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Thats rich. No one so far has taken up on my offer. Do you want to?
So let's skip all the nonsense, since my money is already where my mouth is investing in this project, whereas you're all talk right now: in exactly 6 months if i am not able to receive more than 100% of the amount I put in, this has been a bad investment and you not only get to say 'told you so' but walk away with 10btc to add insult to injury, if I do indeed have more than 100%, either via dividends alone or dividends plus sales of shares, it's been a good investment and I could of done without the headache of listening to your tedious comparisons to BFL monarchs. Sounds fine to me let me know the neutral escrow Ive already laid out my terms and my motivation for them. Im not going to bet 10BTC against my own expectation that cryptx will be taken off the market at some point and/or will be forced to reimburse investors (in fiat) for a sum that exceeds IPO value (fiat denominated). |
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so, AM is down more than 2000%.. AM paid out its investors considerably over IPO price in dividends alone and its shares still trade at 3x its IPO price. Never ever gonna happen with cryptx or any mining security. Difficulty could increase 500%, we are still churning out BTC with some of the most efficient hardware on market
Purchased at a cost that is a multiple of what it costs competitors who produce their own asics. And with electricity costs that are up to an order of magnitude higher. of course should that be the case we'd churning it roughly 5x slower (if theres no investments, no adjustments to dividend ration etc, but BTC is being mined nonetheless) You just dont get it do you. Of course you'll still mine BTC's, but never enough to pay the investment. Maybe you'll begin to understand once you've had your Monarch for a few months. You don't account for replacing hardware entirely, nor previously accumulated dividends, nor liquidating hardware, nor selling shares. Because none of that changes anything fundamentally. Also, You still didn't put your money where your mouth is either, the one that went like this: I'll give you 10btc if I'm a bagholder in 6 months, otherwise you pay me
Thats rich. No one so far has taken up on my offer. Do you want to? |
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Just tell me how do you feel about this number. For me, it's way too cheap.  $2600 per TH in 2 months is way too cheap for you? |
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Except the share value is not dropping 7% per week.
Oh its not gonna drop exactly 7% every week especially not as long as investors cant do basic math, but on average the market value of the hashrate that your share represents, will. Now you can allocate mining revenue to increase your hashrate ('reinvestment') or pay it as dividends or do both in any ratio you want, but if you dont earn more in net mining revenue than the rate at which difficulty goes up, it doesnt take a rocket scientist to figure out what will happen. Besides, as it happens, last IPO was on May 23 @ 0.0975 Now 2 weeks later thats worth 0.072. -12.5% per week But hey, enjoy the 2% weekly dividend for as long as it lasts. |
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You're nuts. 2.1% per week is stunning. That's 100% per year. Yeah, except, its not. Your mining revenue and the value of the hashing power which is your fundamental share value is dropping by 7% per week. Cant believe how people still fall for this after all these years. |
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- 162.69622134 as payment for hardware (801.3037787 BTC remaining)
So even if difficulty would remain the same, thats 5 weeks of no reinvestments. Of course difficulty did just change and is bound to change at least 3 more times before the loan is paid off, so you are probably looking at closer to 2 months of no reinvestment. Current hashrate of petamine is 1.3PH in a network of ~90PH, or 1.4%. By the time the loan is paid off, it will be well below 1% As for the "impressive" and "hefty" dividend, maybe Im missing something, but 0.00209952/0.0975 = 2.1% of the IPO price. The network is growing by >7% per week. Any math geniuses want to guess how long it will take to earn back the principle through divs? Thats right, forever and then some. |
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1) On the Balance Sheet, approximately how many chips does the current Inventory (Products + Materials + Masks) represent?
A little less than 60P of wafers, most of which are on their final stages of production. Thats AM saying they have 60PH worth of chips nearly ready to go. Current network is ~90PH. And thats just one asic manufacturer, and it doesnt even include their larger june batch. Good luck keeping up. |
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You just gotta flow with the PETA stream man.
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I see the miner protection program is still on the site (not that removing it would change anything, since it was there when orders where still coming in) we guarantee enough hashing power to meet ROI and then some, when mining SHA-256 coin. If the networks increases to a point where your investment in our technology is no longer profitable, AMT will upgrade your Miner to the next level Miner absolutely free. We want our clientele to succeed and prosper together with.
Miner protection is automatically applied to all purchases from AMT and is valid from the date 09/26/2013. Although in the future, we may add this as an additional paid option during the purchase process. Purchases prior to this update are covered under the Miner protection plan automatically.
How it works:
AMT will receive your order, if the networks hash rate increases to the point where your miner can no longer meet ROI we will upgrade your miner to the next level of AMT miners.
https://advancedminers.com/miner-protection-plan/So, how does AMT plan to honor this? Ship 4.2TH machines to 1.2TH customers? |
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