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People are still buying batch 4, what is wrong with you people!!!
Havelock would you please take off batch 4 until its actually done
don't be mad; if ppl are buying at that price it shows market support for that price! It shows that those ppl are paying ฿0.0425 when they could be paying ฿0.041. That doesn't show market support. Possibly organic brain disease or some other ugly pathology, but not market support. Sure it does, if that is a price they are happy to pay at then they are supporting the market. |
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I am a little bit confused, why is it cheaper to buy dragon miners over custom made boards...?
Chips were a one off order of a bulk amount as far as I'm aware, maybe the supplier is sold out, maybe buying in small reinvestment sized amounts rather than fund beginning sizes doesn't offer the same economies of scale. But I agree, the custom boards seem to be the way to go. |
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In order for businesses to thrive they need to advertise. Cryptx is focused on growing the mine so a few of the investors here have decided to do that for them to bring this project to a wider audience. What is wrong with that?
What is wrong with that is that there is no benefit for anyone except existing shareholders. How many times do you have to be wrong before you pick up your legos and go home?
It is clear that you are pretending to be an experienced trader/investor, and very bad at pretending as well.
For him to be wrong there has to be someone that provides arguments that he is indeed wrong. So far this has not been the case. Ahahaa. Your joking right? Have you read what he comes up with? We were supposed to be at 0.025 a share every week for the last few months. I wrote a pretty detailed explanation a few days ago of why his 'analysis' is completely wrong and reminiscent of my primary school days and all he could come back with was the personal attacks above, which are complete bullshit. Apart from the I'd kill you one.. But that was taken out of context. What I wrote was I'd kill his fraudulent hedge fund, which I had a pretty good go at doing. And looking at the buy side on the order book, I was pretty successful. Or the me being drunk one. Well, I'm hungover. but what can you say, I'm 24 and enjoy going out on the weekends, and the occasional weekday. Anyways, Darkstone2 your not reading anything that is being written. It was clearly stated above that we still have 18 thousand shares to be issued and the higher the share price the more capital we can raise. Yeah, I only post in response them because its fun. I have looked at bcmine's webpage and it hurt my eyes, not to mention how poorly written it is. I was designing better webpages in notepad 15 years ago. It doesn't matter what they post, peta is so far successful, its not up the 700ths original deployment, but at the current rate of growth it will be in the next 2 weeks or so. What some of us understand is that peta is deploying at almost the perfect time. The difficulty increases will plateau, when this happens coupled with an increase in btc/usd, the future is very bright. How much you want to bet that as soon as peta hits 1phs+ and the share price breaks through 0.25btc, we wont hear from any of them every again. I also find it very interesting that any time I post a response to one of bcmines ramblings, darkstone2 jumps in to attack me. Either darkstone is stalking me because they are in love with bcmine or they are the same person, although its likely they suffer from MPD. Just to point out the difficulty is plateauing BECAUSE the price is plateauing. If the price of bitcoin goes up the difficulty will rise much faster as older miners will become profitable again. While the plateau and a rise in bitcoin value would both be good it is unlikely that we will see both occur at once. |
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The wall has disappeared and reappeared before, I'm sure it will be back
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Machines offline? What's going on? Near hardware? Power outage?
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I'm reading 1hr average 216 ths and 5 min average 225 ths
Yay! I wonder if these are custom boards as well or just the chinese hardware
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"The fee depends on the current difficulty and the BTC to USD ratio." ~ from the cex maintenance page
And certainly you can reinvest yourself but the reinvestment is not inherent to the asset.
Also what's up with our hash rate?
15mins 168
1hr 173
Fluctuation, preparing for new things, or stuff gone wrong?
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Have you run a successful fund in a non bubble situation? Sounds like you lucked out with 320% gain.
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So the profit forecast spreadsheet seems to be out of date / inaccurate with all the changes to the plan. Do we have any profit forecast updates based on recent events?
you dont a spreadsheet to read numbers of this project. shareprice 0.0667 with marketcap of BTC 5382 with 200 TH is pretty crazy. Let say you take a pretty expensive competitor GHs like cex.io FHA futures for 0.008 GH valid from 26. April than you are at a marketcap of BTC 5600 for the future 700 TH. But when the 500 TH will be added to the project is strong unknown due to bitmine fail of delivering their miner and the maintance fee is pretty high here, about 30 %, cex.io charging just 20% however, the pusher here bought the share at the top for 0.10 or higher and want the shareprice go up again, so its a shareholder lovefest  Our hosting costs are high because the exchange rate is poor for btc at the moment. cex.io maintenance fee is tied to difficulty as well for some reason, but there's is probably lower overall. I don't have a problem with that, because AGAIN, they don't reinvest. It's not really a valid comparison. |
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Since I bought shares, I have noticed that almost without exception the share price drops in the days before the dividend payout and then over the weekend the share price rises! Weird that people sell before they receive their dividend, and then buy after the dividend opportunity is lost! On Wednesday I put in a stink bid with my earned dividends, and on Thursday I was totally surprised that my order was filled. Now since that purchase, the share price is up over 46% in just three days plus I got my additional dividend!!! Will the share price drop again next Wednesday? I hope so, so I can repeat this again!!!  Probably the work of bcmine and darkstone botting. They probably pick up shares on the cheap, collect divs and then sell them again. |
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simply comparing hash prices completely disregards the reinvestment, which means petamine shares retain value whereas cex.io ghs lose it very quickly.
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Aaaaand share price is up. Well thanks guys  |
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God dammit, was hoping custom boards wouldn't come online until I had bought up more cheap shares. Still, amazing news, this is so far my favourite crypto-stock. When the next BTC boom happens we are going to rake in the cash. Anyone want to sell 2 BTC worth of shares pm me.
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I think there is something fishy going on at Bitmine, I don't know what kind of a deal Cryptx have with Bitmine regarding the delayed Hardware and if there will be compensation and how much it will be.
but something is wrong at Bitmine and I don't know what the exact story is, they are not speaking and they are taking the easy way of things, I also find the way they've changed their attitude toward customers (now they are being all sweet and nice) really suspicious, although the timing is kind of funny, now that most people didn't receive their hardware, they are entitled to a refund based on the TOS agreed on at the purchase. (60 days delay equal a refund + 10% penalty) for those who paid with BTC back at November/December it makes perfect sense to ask for a refund, you would get more BTC than you paid, these machines wouldn't ROI anyways. so there is that.
I just find it really strange that Chinese copies of the based A1 chip rigs are going on a really worrying rate (not to mention the price) while Bitmine fails to deliver the simplest orders and fail to even have a working Rig design.
I think this is why the share price is going down, people are are afraid about the worst scenario, it is humans being humans, usually the price would go back when there is a clear picture of the situation (or drop forward if the news is bad).
Cryptx probably make their profit from the hosting fees so adding more machines is better for them than getting the refund for us. We should get extra machines as compensation though. I hope all this FUD stays around for a while, I want to pick up more shares while they're cheap  Only managed to buy 5 this week. |
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Great update!
Shame about Bitmine, but at this stage it is expected, they suck, they aren't going to magically get better. Would be nice to know what compensation we're getting for breach of contract though.
Great news about new hardware arriving!
I like the new pool, shame cex is a stupid company, but it will be better for us.
Lastly excellent to hear about the PCBs. Sure coming weeks could mean a long time but at least progress is being made. I guess with 2 working designs you can build both and test to see what's better?
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Yay, merged mining!
I know it's only a tiny bit more profit, but we were just throwing it away otherwise.
As for buying GHS on cex the price goes down so quickly I doubt you'd earn the price difference back in mining if you held GHS.
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Not sure about hardware, no new workers that I can see, and it's well within the bounds of fluctuation.
Still I'm happy with my investment so far, just hope the share price stays this low until I get my next pay check.
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Please explain how cryptx can make a profit on this operation unless A) they are shareholders themselves, B) overcharge hosting costs or C) overcharge hardware costs.
all of the above already applies, yet it's still entirely possible for all shareholders turn a profit and means they have direct incentive to care for progression of PETA project rather than a private competing mine Again, this is where the lack of knowledge comes in. For someone who knows how businesses operate you can answer your own questions with ease and likely be close to the truth. Businesses setup parent/subsidiary relationships all the time, and they sell or rent equipment or services to/from each other. In cryptx/petamines case, its feasible for cryptx to sell the hardware to petamine at a small markup. As I have posted before, cryptx has incentive to not overcharge petamine per ghs because they will limit the amount of growth and therefore profit that can happen. Is there something inherently evil or wrong with cryptx making a profit off of petamine? If cryptx is able to manufacture mining hardware for say 3$/ghs and sells it to petamine for 4$/ghs is that wrong? Am I missing something where its wrong for companies to make money? As long as they keep the $/GHS low enough that the mine stays profitable and preferably growing, what is the problem here? nobody is saying it's wrong. just saying; cryptx owns shares in peta (meaning they earn dividends in correlation to peta success and have interest to drive the price up if they would like to sell), as well as being able to charge hosting/management fees, meaning they are continously compensated for the mines operation, as well as being able to profit off making own hardware and sell to peta operation, and as well as being able to profit of being shareholder in an asic manafacturer (for instance they own shares in cointerra) so they also profit from simply ordering hardware, let alone building it, have a feeback loop. what's wrong about that? I'm glad to see a transparent path for cryptx to profit along with shareholder because if it wasn't there the incentive to maintain a successful operation for the public is a lot lower Cryptx do not own shares in Peta. However the rest of what you say is true. The bigger and better Petamine becomes the more they will earn in hosting fees and whatever else. I hope they do well out of this project as they put a lot of work in and ultimately our successes are linked. |
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All else equal (ha there's a broad statement) if cryptx reinvests a larger % than the difficulty rise, petamine will have a seat at the grownups table. By having enough $ to be a lead investor/customer for each next generation round of ASICs petamine can stay ahead of all the others buying the same chips.
+2 That is some serious misquoting going on there...
Nay, it is you who is ignoring what others have posted.
They likely got the money for the PCBs the same place they got the money to pay for the deployment of an extra 500+ Terahashes of hardware. The havelock ipo happened when BTC/USD was a lot higher than the original ipo last year. My bet is that the funds came from that or, the folks behind cryptx have some deep pockets and decided to anty up to make up for the major delay in deployment, it helps us as well them because it puts us further ahead than we would have been.
They can't take money from the IPO. The contract states that the money is used for producing or deployment of hardware. Not the development of hardware. The word 'development' isn't even mentioned in the contract so i would assume that the development of hardware is an insignificant portion of petamine's expenses. As for your attempted "question" about cryptx selling hardware to petamine at a markup thereby possibly hurting the petamine operation and profits. This is why I said that some people have no clue how a business is run. It is in their interest to get the most efficient and lowest priced hardware online so that the mine can get and stay ahead of difficulty.
Please explain how cryptx can make a profit on this operation unless A) they are shareholders themselves, B) overcharge hosting costs or C) overcharge hardware costs. What?!?!?! You think Cryptx is just a charity to help aspiring bit investors? You are naive. |
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Designing a PCB is not the hard thing. Designing a chip is. Also they are designing a PCB.. with whose money exactly? The IPO doesn't mention cost for designing PCB's.
On a different topic, if cryptx asked to change the reinvestment ratio from the 65/35 to 60/40 or 55/45 or 50/50, I'd likely vote yes. I see the inevitable future to be a small number of large mining operations, and if by doing a larger reinvest petamine can climb to being one of those, all the better for the shareholders in long run. All else equal (ha there's a broad statement) if cryptx reinvests a larger % than the difficulty rise, petamine will have a seat at the grownups table. By having enough $ to be a lead investor/customer for each next generation round of ASICs petamine can stay ahead of all the others buying the same chips. Thoughts? Jesse I would be all for this. I had another thought as well. Perhaps cryptx could partner with someone working on 22/20nm or even work towards 14nm so that when its ready for primetime we get it first. Of course first priority is getting the mine fully deployed and 28nm will be profitable for quite sometime, but getting ahead of the curve would be worth it long term. I suggested this back during the IPO, I don't think 35% is enough, and I would rather see this project go long term than get slightly more dividends now. Secondly all the troll calling is annoying. It's good that people are questioning the business model, there's no need to be sanctimonious about it. Don't be so precious guys, Cryptx is doing a great job, but people should be allowed to question whatever they want, money is at stake here. |
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