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To be fair, this is a recent event (the decoupling) and in any event we should be mining whatever scrypt coins are most profitable.
i want to know where the hashrate is being directed, its not on wemineltc.com |
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Litecoin is experiencing its biggest price slump ever."The advent of powerful scrypt ASIC miners has raised additional concerns in the litecoin community. The first scrypt ASICs are now starting to appear and the biggest names in the industry are set to join the fray."Factoid above and the chart below combine to question the wisdom of investing BTC in Litecoin mining.  BTC/LTC  so your here to destroy this project as well?? |
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here is why i voted no. Why would you pay 8000$ per machine now ($88.88 per Mh/s), when KNC miner is offering a batch 2 of the titan (400+ MH/s) for 7000$ ($17.5 per Mh/s). Thats just retail, although its in the "future", they compensate for shipment delay. Furthermore, if your not familiar with PETA, and don't know the shit thats been happening there i suggest you you all read the past 5-7 pages. i mean paying double for the mh/s now would make sense but damn 5.07 times does NOT. Furthermore, you will NEVER ROI, follow this link http://www.vnbitcoin.org/detailcalculationltc.php?name=LiteCoin_Mining_Rig&startdate=2014-06-27&costperunit=60000&wattperhour=8400&gigahazarate=1000000&daytoincrease=3&testlopfirst=2&diffincrement=3&bitcoinperdollar=9.13&electriccostinput=.25&begindifflevel=13132I used a conservative difficulty increase, but even if you change it to 3-5% increase per difficulty, it doesn't ever ROI. 2% does, in march of 2015, barely. ordering from KNC miner using the same projects doesn't work out either unless the overall growth is 4% or lower. Thats based on 11 units RETAIL at 7k per total cost of 80,000 (all of our reinvestment money @600$btc). The future of this project doesn't look good, if we do this reinvestment, all we will be doing is letting cryptx take our money. We will effectively stop mining by according to the link above, by march of next year, but our dividend will be shot to hell. Just FYI, this does not look good either way, but at least with KNC miner, they have a proven record and might even increase the hashrate before its done. I'm not going to bother doing that projection, if this new equipment comes in we're all pretty much screwed. If we wait, we Could make it out alive. PS. i did not take into account the BTC/LTC ratio, i just did 9.13$ per ltc. |
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Now we know where he is..  CryptX sells A2 Innosilicon 90 Scrypt Miners. IN STOCK 90Mhs Scrypt Miner 7500$ + shipping worldwide Payments possible in LTC or BTC Please leave a message here or email to info@cryptx.comThis item will ship within 1 business day after payment clears. Contents: 1 A2 Innosilicon unit of 90Mh/s ASIC miner, can vary by a +/- 10% Single standard form factor 4U server chassis 1 Raspberry Pi computer 1000watt Platinum 80-Plus rated enterprise class power supply unit (PSU) Only draws 10-12watts per chip (500-700watts total) Specification: 48 State of the art A2 28nm ASIC chips High Quality Bench Tested PCB 4U Rack mount compatible server chassis (rackmount rails extra) Internal 1000 watt PSU's (draws about 500-700watts depending on hashing rate and overclocking configuration) Latest energy efficient Power Supply and ASIC chips to give you the highest ROI USB Port to connect to Raspberry Pi, PC or MAC. Fitted with high performance fans to keep the processors cool. Patent Pending thermal cooling system |
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What do you do with ASIC and the historic cases which refute this claim?
Which ones are those? Asicminer had increasing returns to scale for a while. Its growth outpaced the network even with sub100% reinvestment. I believe it's not the only case either although I would have to look around a bit. ASICMINER was selling overpriced mining gear to ignorant/starry-eyed miners. It was mining with self-made chips and miners, and the competition at the time of greater-than-network-growth was nominal. Got it. So basically we need to start building our own chips. Also, could we not play up the marketing due to our p2p pool integration? We could argue a value added not perceived merely through divs. What marketing? i haven't seen any ads anywhere... has anyone else? |
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@DTM
Do you forsee potential issues with getting chips before three months?
BTW, cool name!
FWIW, chips shouldn't be the problem. Friedcat can deliver them the same month you buy them. The bigger issue would be PCB fabrication to spec for the tank system. That is where hiccups can arise if they don't meet the specifications that DataTank wants out of their boards. But they should already have that set up as far as i can tell from the video of the AM chips that they showed running. So that shouldn't be a problem right? |
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But, for the record, Peta-Mine has been a very solid investment for me. I bought in ~9 months ago, at .065/share, and a bit more at .05/share. Share price has been pretty stable during most of that time. At the moment, we are still trading above those numbers, so I could easily sell for a profit. In addition, dividends during that time have been something like ~50% of those IPO values. So... fantastic investment, by any measure.
Nonetheless, every time I come to this thread it is clogged with sky-is-falling, OMG-you-people-are-idiots, this-is-such-scam FUD. And every Friday I make some more profit, just by holding.
Just saying.
+1 +1 +1 exactly! another week, another excellent dividend reinvested in a few more shares. J +1 +1 +1 +1 +00 |
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1. so from the Prospectus you mention "minimized manufacturing time and prefabricated DataTank mining systems... deployment can be carried out in hours, instead of ays or weeks." But the mining won't start for 3-6 months? As far as chips go, have you already received the chips from AM (24 PH worth) and what was the power consumption per Gh
(you mentioned some could consume 33% less power than stated by manufacturers)? In other words, have you already bought the chips while the BTC value is relatively high?
2. In the Prospectus theres no mention of bitcoin price going down between IPO and deployment. IF this happens, will each unit represent less kW? Will the 20% extra hash be deployed to help with ROI if the BTC value does go down? Will the fee's be decreased?
3. How will we individually as unit holders decide to reinvest (percentage) vs. no reinvestment? is this a shareholders vote with a majority needed to decide the reinvestment or will the DataTank give us to buy additional "units" with the mining dividend?
4. With scrypt mining, will you establish a different type of shares? When would you offer this, if it becomes a separate unit? or will scrypt mining capacity be included in the DTMA/DTMB?
5. Will ROI be measured in fiat or BTC ?
I like the idea of this project, but Petamine looked good too until there were delays.. and thats key point you've made in the prospectus. If you could please answer these questions that would be great.
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This was the update Update about this weeks dividend payout:
Calculation:
1,875 LTC or 32.3 BTC in total from mining
- 12.01203053 BTC as dividend (0.00040805 BTC/share)
- 18.01804580 BTC reinvestment
- 2.26992366 BTC as hosting fee
LTC/BTC ratio is still under pressure as BTC is gaining in value. The good news is that our reinvestment funds also grow in USD value, which should have a positive effect on our purchasing power for new hardware.
@CRYPTX or anyone that might explain this could you please explain why the amount of LTC mined was ~17.43% (1875/2271) lower when the difficulty only increased by ~11-14.5%. This would leave a variance of between ~3-6% unaccounted for (i.e. bad luck? or machines offline? other explanation?) |
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Can we please get a cool stats page already?? I mean you should already have the code set up from the peta mine.  |
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The stats page is fixed I guess, at least for me, currently hashing at 1310 TH / 80183 TH => 1.65 % of global Bitcoin network.
YipYip
where is the remaining 190 TH? and what about the missing hardware mentioned earlier? |
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Now that the first batch is going to sell out and it looks like Cryptx isn't going to have to buy any shares, we need to try and convince Cryptx to make the same deal again (with the second batch). Not only is that a huge boon to all investors, but it properly aligns Cryptx's incentives with the goals of all share holders.
Personally, I was much more comfortable thinking he was going to be buying shares, I'm sure others felt the same.
Cryptx, what say you?
Agreed, I think most investors would feel a lot more comfortable if cryptx owned a bunch of shares +1, +2 +3 +4 +5 +6 |
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Now that the first batch is going to sell out and it looks like Cryptx isn't going to have to buy any shares, we need to try and convince Cryptx to make the same deal again (with the second batch). Not only is that a huge boon to all investors, but it properly aligns Cryptx's incentives with the goals of all share holders.
Personally, I was much more comfortable thinking he was going to be buying shares, I'm sure others felt the same.
Cryptx, what say you?
Agreed, I think most investors would feel a lot more comfortable if cryptx owned a bunch of shares +1, +2 +3 +4 |
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div received holy jesus .2362 per share.
My jaw dropped.. until i realized how cruel this joke was...  |
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cryptx just confirmed that the IPO hash rate is fully deployed. Good job!
Would still be nice to get the hashrate stats on a webpage.
And I guess Sean's Outpost wins.
Source? Updates
May 20th, 2014 - Dear unit holders,
I'm happy to announce that all promised hardware has been deployed. We are now hashing Scrypt at 2,945 Mh/s or 2.945 Gh/s.
Regards,
Team CryptX are we solo mining? because the pool speed for ghash.io is basically 2.9 Gh/s. The multi-pool speed is confusing b/c its only 1 Gh/s. Anyways if someone could clarify where we are hashing that would be great. |
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only 40% of profits for div?
im assuming something to do with us not getting to 10GH off the jump? would like a little explanation on this As in the prospectus: The used percentage of reinvestment is indicative and will be determined by market conditions at that time. We are managing this project with long term strategy in mind and reinvestment will determine if we are going to be a long or short term player. +1 i hope that when doing the currency exchange, you use the best ltc/btc ratio in addition to multiple exchanges as to not destroy the order books or collapse the prices . But i'm sure that you've thought of that  |
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@cryptx
I would really like to have some insight in stats on both hashrate and revenue.
any ETA on this?
Thanks
I concur, a bit of info would be appreciated. +2 |
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Does anyone have the shareholder list with # of shares and associated BTC address?
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Divs
0.00109209
I was hoping a little more, 0,25 $/kWh doesn't seem to have a significant impact on our divs. It's starting today so next week you will see a big jump in div. even with network going up 10% Maybe not a big jump. Divs were inflated this week because of chip sales, if we readjust the reinvestment percentage also, a div next week of 0.01 .001 would be pretty good. But then we would have that consistently I'm Personally hoping for some IPO news, we still have 18,000 shares that could be very well spent |
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No one is saying that people prefer to buy the more expensive IPO. My point was that some people are under the impression that the price is the higher price and they are still willing to buy even at the higher price. This demonstrates market support for the higher price (Compared to not buying at all, not compared to a lower price)...
You seem to be intentionally missing the point. These finance enthusiasts, presented with the option of buying @ ฿0.0425 and ฿0.041, chose the more expensive option. Even after Havelock added some helpful financial tips ...in gigantic red type:  It is safe to assume that those who chose to pay more did so due to error, a mental deficiency, as a prank, or as an affront to what us mundanes call "common sense." Interpreting such as market's support of higher prices is ridiculous. I am guessing these are the same people that buy high and sell low... its probably someone's bot doing that mess. they're gonna be mad when they find out.. |
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