Share price is way above the original IPO prices. Threading Trading is suspended. IPO.
Dividends are were larger than ever.
...
FTFY FTFTFY |
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Share price is way above the original IPO prices.
Dividends are larger than ever.
In ~2 weeks, the mine hash rate will triple.
The worst case scenario for the short term is that if the new share sale is a bust, in order to pay for the new hardware (which will cause our hash rate to triple), unit holders won't receive dividends for a couple weeks -- maybe as few as 2 weeks -- while those dividends are reinvested.
So what the heck are people complaining about? There is nothing bad here. This is all fantastic news.
There is no other mine doing anywhere near this well -- growing, adapting, communicating, and paying. Unless you unluckily bought on the one spike above .1 BTC, every single unit holder is doing measurably, provably great.
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I've been reading along for quite some time now and seeing how strongly some people push their views, projections and guesstimates, I can't shake the feeling they do this to influence the share price to their own good.
The argument has been brought forward, that "investors" were screwed over by releasing scryptx, then, as soon as "everyone" moved their funds over to it and away from PETA, cryptx "inflated" the share price of PETA, leaving former PETA investors out in the cold.
This, my friends, is bullshit.
Look at the PETA share price: it was on a slight uptick right before and shortly after the announcement of scryptx. There is no sign whatsoever that PETA holders sold significant numbers of shares to free capital for investing in scryptx. Also, scryptx ipo was not sold-out, reaffirming the observation that demand was not excessive and especially not driven by former PETA holders switching over.
Apart from this observation, people moving over from one project to the other on words notice can hardly be called investors. They are short term speculators. The difference is important:
long term investors care about long-term dividend yield, that is company profits. Long-term some and multiple years, although in the bitcoin business I am willing to accept a single year as long-term already. Investors do not care much about the share price, as long as they are confident that overall they will make a profit. Note that there is always two sources of profit for shareholders: dividend yield (often misleadingly called ROI around here) plus profits from selling at a higher share price after the long-term holding period.
speculators, on the other hand, care about short-term profits, mainly from jumps in the share price. Speculators always quickly move their funds where they believe the next market price swings will be strongest, they are often the spearhead when it comes to ipos. Normally, they don't care about dividends at all, as they typically hold shares for too little time for them to be relevant. In the bitcoin business, with weekly dividends, large dividend yields and little trading volume, however, they have come to care about these as well.
Now, here we seem to have the case of small time speculators, who simply made a bad choice: they jumped at the scryptx ipo, selling their small holdings of PETA. When the new ipo with a baseline price of 0.9 was announced for PETA and market share price adjusted, they cried foul for missing out on the opportunity.
Now, to remedy their own bad decision, they try to frame cryptx' behavior as bad for investors, while really only speculators like themselves are negatively affected by a short term reinvestment if all profits and a long-term value increase by increases in the total hashrate. Clearly, they try to get people to sell their PETA shares, thereby lowering the price and giving speculators the chance to put their funds back into PETA at lowered share prices. Remember: speculators mainly care about share price changes! With a market this thin, they can easily affect the price and will want to do so, if they feel they missed out on something by making a bad decision.
Sadly, it seems to be working and the speculators seem to be getting away with their method: first, scryptx share price went down, indicating people sold to get free capital to move back into PETA. Now, PETA's share price is also down, indicating that investors are actually fooled by the guesstimates and statements around here and selling their shares. I believe, the shares are happily picked up by speculators who move back into PETA shortly before the ipo.
One last thing (edit): if you are unhappy, you are free to sell your shares on the market. No need to complain and try to influence others. They will see the sentiment just by looking at the share price.
Yes. Only on this forum could an announcement that our hashrate is tripling cause pages and pages of complaining and accusations. |
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I don't think the 33K "new" shares will sell without new buyers. Right now, anyone can buy PETA units for .091-.093 which are the same as the units that will be selling for .095-.1 in a few days. It looks like roughly 1400 shares have sold in the past 18 hours.
SCRYPT-X was partly a success because enthusiastic PETA investors diversified into it, but in this case, existing PETA holders who can buy more shares now at .091 aren't going to be buying them in a few days at .095. Anyone paying attention here on the forums likewise has the same opportunity, and I imagine that accounts for most of the Havelock userbase.
So who is going to buy them? It looks like the market is just too shallow, and we are going to go a few weeks without dividends. I still think we are in a great position, and it may only be a short time before we are back with massive dividends.
New users are the only way to sell those units, though. I think cryptx knows this, and thus the website redesign and subtle repositioning as "cloud-mining" seem to point to the notion of a marketing push. There are a lot of people in the broader bitcoin community who aren't here on the forums, and we'll need to reach them somehow: stories, posts, ads.
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Logo and layout is good, white space needs to be reduced though and the top menu font is terrible. Finally, we have a logo! Truly a momentous day! |
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Great update, thanks! And thanks for all your work.
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I am a little bit confused, why is it cheaper to buy dragon miners over custom made boards...?
Could you make a statement about this today, or just a better idea on reinvestment and why buying dragon miners I feel like the best bang for your buck is with chips since we can already make boards? am i wrong  From the May 2 cryptx update: - We are working on some analyses and will announce some ideas for strategical improvements next week. So, here's hoping we do hear more about this. My guess is that when we had less hardware deployed, there was pressure to show some progress and so buying a few TH/s here and there that could be quickly delivered made sense. Overall, though, I agree that may not be the best bang for our money. Hopefully analysis along these lines from cryptx today. |
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And this just in via email: ---- First of all we like to thank our early investors for their support and trust in the Scrypt-X project. We took a blazing start with the IPO yesterday and would like to announce that we want to live up to this enthusiasm and started with the deployment of our first scrypt miners today and additional miners already on their way! http://www.cryptx.com/early-deployment-of-scrypt-miners/ |
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What is going on with this?
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@karol
actually, I can sell my cloudhosting.
Its still a bad deal
Peta-Mine has not been a bad deal for anyone who has been participating over the past 6 months. More than 30% has been paid in dividends (I don't have the exact number) and the shares are trading well above IPO -- so whether you bought and sold, or simply collected dividends, you've done well. I admire your certainty about the future. |
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23 minutes... awesome. That was my excitement for today!
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Guys, they need your hard earned money for *their* cheap investments.
Finally youŽll loose your money.
If their great blablaba Services are rentable, why do they beg you stupids and not banksters?
Scam.
I heard "blablabla." |
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Start of IPO May 7th 11:00 EST
I have never regretted for one moment buying into PETA-MINE, and that was 3 exchanges and 6+ months ago -- cryptx has maintained clear communications throughout, dividends have been very strong and share price is still above IPO. I'll be there for SCRYPT-X tomorrow morning! |
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I'm not seeing the exact IPO start time on May 7. When is that?
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Is a PT going to be offered on havelock or whats going on with counterwallet
I tried to buy some of the 1/100th shares on Counterwallet, but that was exactly at the moment of the Counterwallet bug. Since then, it looks as though there have been only 2 successful trades on Counterparty for Rockminer shares. I love the idea of a distributed exchange, but right now it appears that Counterparty just doesn't have sufficient volume. Havelock would be very welcome! |
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Presumably that was the final sell-off dividend that just came through. 0.00762344BTC/unit
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Is anyone else having trouble reaching Havelock?
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I love this place.
It is rather amusing. Its a shame about your analsys above though. In that situation bitcoin mining as a whole would cease to exist and then bitcoin would fail  Yaaa. He's got a point. Our reinvestment cost is so low and so is are our hosting costs, if we die, the large majority of the rest would die before us In better news. Anyone else expecting another record dividend this week? I don't even think it's gonna be close to last weeks. Putting it at 0.00091 I think it will be a new record. Last dividend cycle, we'd added ~200TH/s that week, but it hadn't been mining for the whole cycle. This week, we've been +450TH/s all week. That has to add up to something good. |
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Mr Teal,
Thanks again for being a kick ass developer! I can't wait to get my hands on the habenero.
Yes! My Chilis are my favorite miners, and have been mining flawlessly (and near-silent) for 6+ months. I am very excited about the Habanero! *crosses fingers for a good price* |
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