Another custom design based on A1:
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Protracted btc price under 300$ seems to be rather a low probability event. Though, at certain point, by being too greedy with regard to the hosting fee CryptX could prematurely wipe out shareholders value. Of course, this would also mean no reinvestment funds and no growth for CryptX's business in current model.
Personally, I see this additional risk as a price for 'comfortable' mining - I don't care for electricity, cooling, noise, hardware ... or hosting fee elsewhere. On the other hand, those who care for all these things could be more 'invincible' in case of really hard times for btc/usd exchange rate. Nothing is for free.
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We could argue to what extent FHA (FHM) cex.io price is pertinent to PETA-MINE share valuation. Anyway, one thing is 100% sure: we badly need deployment progress acceleration.
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0.000621 - so a bit lower than last time
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Bitmine seems to have deleted news about the new generation product ..... Not a good sign for nobody. I guess it's not a bad thing if they are focussing on getting their initial product out to those who paid back in September instead of trying to get more pre-orders in Yes, I think is a good sign for the present .... but a bad sign for the future. They could focus to empty the orders queue without delete the news about the new product. The same for the Rigs - recent news disappeared.
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We are working closely with Cognitive to find a quick resolution.
Thank you,
Havelock Investments
I think COG trading should be re-opened. Actually halting wasn't really explained. As for COG transparency: a month ago it was more or less the same as it is today. If Havelock knows something more then they should make it public and allow people to get out or in based on everyone's own judgement.
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Quote from recent prospectus: 'Quarterly financial statements will be published across all supported platforms where LMB Holdings shares are available to be purchased.'
Listing on Havelock started in September 2013 and up to now I see no fin statements on this platform.
Question proposition: When will first financial statements be published on Havelock?
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Recently we had some lucky time - that's all.
Believing that in the long run PETA-MINE could be more lucky than the others is IMO simply delusional.
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They seem just a tiny bit noisy. and waiting impatiently for first Rigs
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millenium 0.000461 - 0.000624 nwfella 0.000572 tsm13 0.000502129 - 0.000589287 rdyoung 0.00055 jjohnson 0.000598 EdoBcn 0.000651 VonSpecht 0.000710 stompysteve 0.00085085 We should do this every week. Sounds fun. Also, we could arrange a minimum bet type of thing, who gets it right wins all bets ujka 0.00058 mikemikemike 0.00062 DropDead.Be 0.000621 trek27 0.00063
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So, to recap....a pair of 18 year old students ran a scam where they convinced us they could run 30TH of mining equipment out of their house...the equipment was late delivered and when it came they couldn't keep the breakers on for more than 10% of the equipment 10% of the time ensuring a huge loss in expected mining revenue....a friend from electrical shop class finally told them that the house didn't have enough power supply to run that many units as well as cool them.
They ran around in circles trying to arrange a data center colo that by anyone with even meager planning skills would know should have been arranged months in advance...then decided it was all too much effort and unilaterally decide to sell all the equipment killing not only all chance of profit but guarantying the investors a loss. Add to that a unilateral decision now to add the money to the "reinvestment fund" regardless that many people just want it issued as a dividend now to recoup the massive losses they were hit with.
All along they were mining to undisclosed addresses, bouncing coins through several personal addresses, had almost zero transparency to the shareholders, and couldn't even seem to be able to put a simple spreadsheet together and ignoring the motions brought forth by it's shareholders. Yeah I'd say a scam intermingled with total incompetence that cost everyone who invested a lot of money.
Oh and I forgot to add they did this all on US soil and allowed/marketed the investment to US citizens...cue the SEC complaints in 5,4,3,2,1.
Overall a sad story so far ...
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500TH (aka 100TH) mine listed on Picostocks.com mined solo for a few months. We could argue what caused their under-performance. Finally they moved to BTC Guild: https://picostocks.com/docs/view/97
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Something odd at bitmine. http://bitmine.ch/?p=5402Please don't take this as fud. Whatever is going on explains the lack of speedy hardware deliveries to Peta. Unless cryptx can tell us that its not related. Statement is a bit ambiguous but I suppose it talks just about new pre-orders - they stopped taking them. Given recent developments at Bitmain https://www.bitmaintech.com/productDetail.htm?pid=000201403150259438234hgMrx380699 trying to announce new products seems logical. Interesting what options Bitmine will propose to current backlog orders owners (wait until we deliver, refund, upgrade). This could be bad but also good news - especially given seemingly endless inability of Bitmine to start Rigs production. Maybe for PETA the best choice would be to get refund for Rigs orders and buy A1 chips? - we simply don't have enough information to judge this. I do really hope that CryptX will choose the best option for us. This is classic situation when investing in start-up operation. You just cannot overstate crucial role of management's ability to make good decisions. CryptX, good luck.
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I also agree, we should reinvest a bit more (up to 50/50 imo). Could cryptx set a vote or something ?
I would only agree if the hardware could be bought and delivered quickly by the supplier. No need to increase the reinvest and lock that funding into hardware that can't be delivered to keep up with the pace. +1 ... and cost efficiently
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I'll go to visit Bitmine next Monday.
monsters4r, pls, let us know about your experiences after the visit.
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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.
Surely, A1 wont last forever. Personally, as for today, I have no conviction which way will be the winning bet in the more distant future.
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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
A lot depends on cost efficiency of proposed mining solutions. We should wait and see ... and then if raising reinvestment ratio could give us additional boost then it could be worth the effort.
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It's March 13 and PETA-MINE just crossed its first 100TH. Despite undeniable efforts by CryptX we are well behind schedule (~300TH). Let's hope Bitmine gets production finally on track.
Also, we are approaching very important moment. According to THE ANNOUNCEMENT week 13 (24-29 March) could mark first delivery of our own mining devices based on A1 chips - fingers crossed.
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