Cex price is about 0.007 per Ghs. That puts the shares at 0.007*14= 0.098 per share.

Personally I think cex is overvalued so the price will be a bit lower.

All in all I feel bad for the panic sellers. Off to buy some more units before the decision.

Happy hunting.

Sweet jesus, does anyone even look at the orderbook before freaking out?

The sum of the shares for sale under 0.07 is 2% of the total...

I don't really mind what happens too much (long run and all that), but let me say for the more nervous forum readers:

1. The share price does not reflect value, it reflects emotion and opinion
2. The shares for sale on Havelock are FAR below the amount of shares out there
3. The above means that a lot of people simply aren't even interested in selling their shares
4. There is a reason the Cryptx team stopped looking at this forum, too much BS
5. Use your brain, never sell or buy based on emotion. Take a day of thinking and research before you sell/buy unless you are a speculator (in which case, happy hunting these last few days)

I'm going to stop looking at this thread too, at least for a while. Too much panic and unconstructive argument for my taste.

Because that is what we have seen so far, no hashrate spikes at all, this is a unique occurrence. Except for that one time we got 3 times what we were promised after 1st havelock IPO, and now again... Yup, cryptx has disappointed me time and time again.

How do you deduce this is killing us? We nearly doubled dividends after the loan and during the reinvestment.

FUD would accurately describe what you are doing. Wanting to pick up some cheap shares of a very well paying project?

Early investor means nothing. I'm one too, yay.

Hallo Bitcoiners,

Op 26 Juni organiseren wij een Bitcoin speurtocht in Maastricht. We verstoppen dan Bitcoin teddybeertjes (sponsored door BitPay) met geprinte Bitcoin wallets in Maastricht. Wie er een vind mag hem en de coins houden!

Meld je aan op het facebook evenement, en maak er een gezellig dagje maastricht van!

Ideen om het evenement nog leuker te maken? Let us know.

Groet,

Mentor

Ps. Sponsoring ideen welkom, nu komt alles uit eigen zak.

Scroll back. I've been here since the beginning at Havelock... My involvement in the Cog liquidation is purely that at the end someone was needed to prevent a lose-lose situation. I had had nothing to do with cog upto that point so was chose as an impartial outsider. In your lovely quote, hell doesn't follow me, I jump into hellish situations and try to bring the temperature down.

If you want to indulge in looking for bad omens and bible quotations though I suggest watching Supernatural. Quite a fun show really.

Shall we return back on topic?

I do not expect you to make decisions based on my credibility. You are not a sheep, you have your own mind. I expect you to make your own decisions and can only offer my perspective.

Do you question that your shares become worth more if you spend energy on growing Peta? That is an argument I'd love to have. Shouting matches between credible people I have no interest in.

As for Cognitive, like I said:

I'm the one who oversaw a controlled demolition. I didn't make the decision and simply tried to make the best of the situation. Naturally some individuals do their best to act out their frustrations on me, I understand that.

The simple fact is that if the project owner would have done communication it would have turned into a mess that would left everyone in a worse situation. There was no saving that project, only making the end as painless as possible.

If you want to discuss details I'm happy to answer any questions over PM. The Peta thread is not the right location to discuss other projects.

Food for thought:

Sure it would have been nice to get a vote, but with a unanimous 60% vote, would it matter?
What does attacking havelock gain you?
What does attacking cryptx gain you?

How about these:

Has cryptx exceeded expectation time and time again?
Does cryptx keep pre-financing things from their own money?
Have you received dividends consistently?

How about some introspection:

What can you do to make Peta more awesome?
What would happen if you would divert your energy to promoting this IPO than that criticising it?
Would you as an entrepreneur like to give daily updates to a crowd of paranoid forum users?

TL;DR

It would be nice if shareholders would stop trying to bring down the company they invested in and try to help build it up.

@Skuser, I rest my case. if you would read the prospectus you would see the pictures of the farm. You would have seen the same if  you opened their website: http://www.peta-mine.co/inside-the-petamine/

That and havelock's post above should put your suspicions to rest. On a general note, please read the prospectus (and havelock updates) so everything said on this forum can be put in perspective of all the information available. Knowledge soothes the nerves more than reading a thread filled with panic and half-information.

What you'll find based on the update history is that the CryptX team has always acted very professionally. They do not engage in debates often, and they shouldn't. Their job is to build an amazing company with a long term vision, not to argue with short-term investors.

Don't get me wrong, I have the same legitimate questions as everything else (like if the hardware was btc of fiat purchased) but I'm sure that they will figure things out as beneficially as possible. Even if the hardware was btc purchased they are probably working something out with the supplier, and if it was fiat paid they will probably wait to see if the btc price stays high until dividend day before posting happy messages.

They have continually favored radio silence until good news, rather than spend time on the forum posting status updates. They spend that time working on fixing any problems and acting to our benefit.

The hashrate is 1156 TH/s. There is no 'remaining hashrate' until more IPO shares are sold. There is also no 'missing hardware'. The IPO is meant to add 1000 TH/s, and since not all shares were sold only part was added.


Using the bought hardware to mine is the best strategy. Also selling the IPO is the best for everyone involved. The growth of PETA mine is good for all shareholders as it improves our economy of scale, not to mention that dividends start sooner.

What in the world is there to be offended about? They are expressing enthusiasm in an email updating us on the hard work they did. If I had just operationalized a 1+ PH/s mine I'd be pretty excited too. I tend to like enthusiastic people in business, they get far crazier things done than deskplants.


Ujka means exactly what he is saying, and is right. The old 500 TH/s second is replaced by new hardware. The IPO should add 1000 TH/s, and the old 500 TH/s was replaced.



Guys, practicing scepticism is a good way to make sure you don't lose your money. But please make sure you are fully informed and don't draw panic conclusions based on some half truths and enflaming forum posts. All the information is out there, and sensationalism or repetitive questions is not going to solve anything.

I for one am very happy explaining things to those who are confused, and I'm very happy there is people here that explain things to me when I'm confused. But half the stressful debating here the past weeks could have been avoided if everyone took 10 minutes to read the prospectus and actually read the status updates that are emailed to you...

Have a nice day everyone, try not to look at the /stats/ page all day. I find myself doing so every so many hours, just because it looks pretty

This whole market/ipo thing is a bit unfortunate. But havelock has had opening/closing market at inopportune times before...

As for the second (planned, unlike what some users seem to think) IPO batch, I'm sure it'll go pretty well once hardware comes online on Monday. People are sceptical to the extreme with this kind of project, but once some sort of assurance is given (e.g. CryptX buy-in) the sales go up very fast.

On the note of hardware, sure it's unfortunate that we're under 500, but with larger hardware quantity comes greater variance. It'll be the same when we deploy 1100-1500 TH/s.

Sidenote on people referring to CryptX as a 'him': CryptX is a team of two, registered as a company in Belgium and a datacenter that's on a map. It would be nice if we could stop talking about them as if they were a dodgy and traceless individual (e.g. pbmining so far).

Done. Running through my network now.

To those complaining that they ask for help in promotion, reason your statement out please. I'm more than happy to increase the value of my investment by promoting the project. Helping out means everybody wins.

PETA wins because of bigger IPO sales
Investors win because it is an amazing investment
You win because a bigger PETA means a bigger value for your investment

Keep rocking it CryptX

Still under a year to ROI though ^^

If that is an indication of the dividends for the coming year that leaves breakeven at 41 weeks. Hmm, ok scratch that since 2GH/s is only a fifth of what we should have by mid-may.

Would be fun if one of the PETA thread people could work their math magic on some predictions. Honestly I'm not sure how to predict Ltc mining efficiency or what the diff trends are.

Because this is not a mining bond but a long term project probably.

@Havelock, the times are confusing (timezones, there are 2 est's). Please confirm the ipo starts in 32 hours and 36 minutes from the time of writing?

Hello Everyone,

This dividend was indeed the last payout. I'd like to clarify some of the details.

Per share payout: BTC 0.0076
Total payout (13595 shares): BTC 103.322

The 18 Terraminers were sold for a total of BTC 87.35140479. The rest of the dividend Garr paid symbolically for the Single SC's and GPU rigs since selling them is pretty much impossible.


The price is actually a pretty good deal. Please refer to the new price of the miners at the CoinTerra website. Compared to the purchase price the second hand sales seem low, but considering the current hardware market and difficulty bumps the price is very decent.


Not at all. I realised the one of the sentences came off as careless and corrected that the post after. I have no hostility towards anyone in this thread and am simply trying to make the best of a bad situation.


As do I. As stated before this was the most advantageous path to take from here. We did our best to make this final payout as worthwhile as possible.


This shows how selling now was the best strategy for the shareholders. Continuing CM somehow would not have lead to a better outcome.

Regards,

Mentor

There are no fees paid to Garr or me in this liquidation. The difficulty bumps and hardware price decreases have brought down the payout significantly though. To those who are not in the loop, refer to the CoinTerra website to see the significance of the price drop.

As the payments are completed you will receive updates. I however do not advise speculation on the shares to those tempted.

Hello Everyone,

As for the current situation, broyboy said it best:


The process is nearing its end, probably (note, indication) everything will be finalized within 24 hours.

Under the circumstances we are trying to make this as profitable as possible for the shareholders.

Nothing is being done out of ill intent. As a result of the bitcoin climate and indeed mistakes made the best thing for CM, including its shareholders is what we are doing right now.

We will keep you posted as information comes along. For now:

Progress

The Terraminers have been sold. Part of the payment is clearing escrow right now, another part is waiting for completion. The old generation gear (SC Singles, Avalon) has not been bought by a buyer due to lack of interest, but Garr is compensating this out of his own Btc holdings.


Garrett has been off the grid for a couple of days. Hereby a message from him.

----------- Message -------------

Dear Cognitive Mining Holders:

I want to extend a sincere thank you to everyone involved in Cognitive Mining within the past two years. This project has been exciting and educational for the majority of the duration, and recently it has been extremely stressful due to the Cointerra miners coming
online a week late and the immense bitcoin difficulty jumps. (The explanation for this has been posted before so please refer to that for
details.)

I apologize for not having multiple options for the hosting of these units, as opposed to the single datacenter which, after receiving the first shipment of Terraminers, refused to host the units without the full one megawatt contract. It is true that if multiple datacenters were ready to go this risk would have been mitigated, the only problem being each one wanting a large deposit.

Although ultimately out of my control, I am very sorry for the pain this may have caused anybody. Just for full disclosure, I have fortified all of my shares to the new manager and will not be receiving anything from the liquidation dividend.

Again, thanks to everyone who participated. I have not gained any monetary worth via this project, but that was never the goal. Many people have learned from the project, and that was the true goal since the beginning.

Best Regards,
Garrett

--------- End -----------

Regards,

Mentor

Hello Everyone,

I've been talking to Garr over the past days to work this out to the best advantage of the shareholders involved. Over the course of today Garr will post an overview of his perspective on what was the intent, process and eventual demise of this project. I would urge everyone to await that post.

In the meanwhile, here are some answers to elasticband's questions.


-------Garr's responses-----------

1 Get a financial report & audit
     This has been in the talks for months now, and the time to create this simply hasn't existed. I apologize for not keeping a realtime financials report that is always publicly viewable. This is something I will certainly strive to do in the future. It is an oversight that in retrospect should have been obvious, again I apologise and will do my best to construct them.

2 Result of the motion
     The motion results were posted on the forum right when it ended. Here is the link again: Motion tally

3 Where are the CT machines
     Some of the CT machines are in Montana and some are in Canada. Icedrill is planning on purchasing the entirety of the machines there from us, which will ensure a seamless transaction, plus they are willing to pay more because it will be free and instant delivery!

4 Where is compensation due from CT
     Compensation from CT is being sent out today, in the form of three TerraMiners. One Terraminer is being sold back to CT for the purchase price (which is greater than their current retail price so it would be impossible to sell it for more) to pay them for the shipping costs which totaled over $6,000 USD. The remaining two of these are being sold right away.

5 Why is Mentor given responsibility
     I among others believe Mentor is a trustworthy individual who will be a highly valuable resource in gracefully closing up shop.

If you'd like anything further on these, just let me know.
------------- End responses -----------------------

A personal note on point 5. I fully understand the frustrations of everyone involved and have the intention to make the best out of the situation. I have not been involved with the CM project in any way unto this point. Garr's intention was to have an impartial individual guide this process. His and my hopes are that as an unaffected individual can see understand the perspectives of all parties involved.



Although I can see why you would consider that possibility, I'm not a sock puppet. Feel free to trace me if you can. You'll find me firmly established in Maastricht, The Netherlands.

For a less dramatic course of action simply PM me about my identity.

Regards,

Mentor