In related news :

https://www.reddit.com/r/Bitcoin/comments/2rnzlj/message_from_havelock_investments_related_to_peta/


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Dear Unit Holders,

Under current market conditions with low BTC rate and rising network difficulty, we have come to a point where mining revenue will no longer cover hosting costs. We would like to present 2 possible scenarios for which PETA unit holders can place their vote (see link below):

1) Liquidation of all assets of PetaMine, this means we will sell all hardware including underlying liabilities with suppliers to a third party. Current liabilities include energy contract until the end of May 2015, which can not be terminated prematurely. We estimate that this option would yield a one time dividend of 0.00025 BTC per unit (dependent on BTC rate and negotiations). After one time dividend payout, PETA will be delisted from the Havelock platform.

2) We continue with the current situation and dividends will be paid if mining revenue covers the hosting costs. This situation will only occur if BTC-rate increases sufficiently. Under current conditions, mining revenue does not cover hosting costs, incurred losses will be compensated from future hardware sale. If losses exceed the market value of the hardware, we remain the right to prematurely liquidate all assets to cover for these losses.

Option 1 is a more conservative scenario while option 2 is more speculative and will only yield value if BTC rate rises significantly and network hashrate remains stable.

Unit holders can place their vote until Wednesday, January 14th 2015, 12:00 GMT. Votes will be weighted based on the amount of units of each individual unit holder.

Click the link below to place your vote: --LINK REMOVED--

Team CryptX

Thank you for investing with Havelock Investments! --LINK REMOVED--

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There are two points:

1) is the mining service really mining, or is it a scam? This link is helpful to remove some of the obvious scams:   https://bitcointalk.org/index.php?topic=878387.msg9697654

2) will you achieve ROI? This is hard to say and depends mainly on Bitcoin difficulty going forward and the price of the provider.

An additional point is about service, features and so on:

* http://www.cloudminingreviews.com/
* https://cloudmining.guru/


Personally, I like to mine with Genesis Mining ( https://www.genesis-mining.com/ ) as they are one of the few services that allow me to also mine other coins (like UNO).

1)  LTC price down by 30%:   https://bitcoinwisdom.com/markets/btce/ltcusd
2)  LTC difficulty increasing again:  https://bitcoinwisdom.com/litecoin/difficulty
3)  BTC price stays in the low $320 area

Does not look that good for scrypt at the moment, sha looks better at the moment.

The reason for this is the drop in BTC price. That means that the maintenance fee eats more of the mining output. If the BTC price is stable and difficulty drops payouts should increase (*).

(*) "should" because there is a little bit of fluctuation in the pool payouts (aka "luck")

To be fair:

http://clevermining.com/profits
http://poolpicker.eu/table?algo=scrypt

All multi-pools have terrible payouts at the moment. Add weak BTC prices and maintenance fees to it and you will find that their payouts are correct.

Simple calculation:

Payout cleverming: 0.17 mBTC payout per MH/s
at $340 this means 5.78 cents
deduct 5 cents maintenace fees => 0.78 cents  => 0.02294117 mBTC
I received: 0.053 mBTC

Not that I am happy about the payouts, but they are according to my calculation correct (or: in line with market data). And if I would have invested in GAW or ZeusHash my payouts would be 0.0000 long time ago. At least GM reduced the maintenance fees from 8 cents to 5 cents.

My sha contract is going better, though this is mainly because the difficulty is perfectly stable for more than a month.

Right. Of course, the market knows the "fair" value of the contract. It would be nice to have it, but it would not magically improve my investment.

Scrypt is not going too well and I did not expect that the scrypt hashrate would increase by such an amount - I am still wondering who invests in this massive amount of scrypt given the performance of Altcoins (and Bitcoin). Anyhow, sha gives me stable returns at the moment.

I agree, be responsible for your own investment decision!

Only thing I am looking for is a market place for contracts. I think this is a reasonable request, though it will not magically change everything.

Right. And GM was also more expensive than PBMining for sha contracts... ahhh wait.

Hahaha, writes the guy who promoted the "bitcoin-trader.biz" scam all over the place.

https://bitcointalk.org/index.php?topic=527395.640

Measure a service by whether they deliver what they have promised. In case of GM they did so far exactly what I have expected from them (actually better because they reduced their maintenance fees quite a bit and used a lower rate as well before).

Do not blame anyone else for your own investment decision. It is like buying gold and complaining two months later that the gold price has dropped. Bad luck, you know it was risky. Same for mining (at home / or cloud mining does not matter). Analyze the risk, take your decision, but do not blame the service provider (or hardware manufacturer if you are a home miner) as long as the service was delivered.

@yvv: I agree the dashboard is crappy.

I was referring to point number (4) of the list:

"4) Open ended IPO
Unless the cloud mining is operated by the asic vendor himself, you can not sell an unlimited amount of hashrate. Hardware takes (usually a long) time to order, arrive and deploy. Any company that doesnt limit sales or make public how much hashrate they sold vs what they have (provably) deployed should be considered extremely suspicious. "

Just wanted to point out that they did not sell scrypt for 3-4 weeks. FWIW. Maybe I did not understand the point (4) though.

Thanks for the list!

The difficulty increase in scrypt surprised me as well. In the beginning I lost some money with GPU mining. The good thing is that the technology evolution is not that fast anymore, but it is still very risky. At least LTC/USD prices are more stable now.

Sha difficulty has not changed a lot since beginning of November - this is quite remarkable.

Only time will tell!

It is like this for about three weeks now (not to talk about X11 which is "available soon" since about three months)

Payout for 1 MH/s as of 2nd December:

Gaw	0.00648	mBTC for their Zen (which is the best "performing")
LTCGear	0.0617	mBTC
Genesis Mining	0.10228	mBTC

           

Wow. Nice pictures!
Are these scrypt or sha miners?

Very useful compilation of cloud mining sites. Thank you!

Just for your information: Genesis Mining scrypt is out of stock for about two weeks now.

https://www.genesis-mining.com/pricing

disclosure: I am mining with them (and they seem to be legit)

Paying an employee in another country with Bitcoin. And I am buying hardware from time to time.

And it seems I am not the only one, who uses Bitcoin. The numbers look good:

https://blockchain.info/charts/n-transactions-excluding-popular?timespan=2year&showDataPoints=false&daysAverageString=7&show_header=true&scale=0&address=

I was also surprised to see that localbitcoin volume is increasing over time, despite the price drop:

http://bitcoincharts.com/charts/localbtcUSD#m1g10zm2g25zvzcv


So it seems people do have use cases for Bitcoin and it gets even bigger day by day. Taking into account the network effect and the investments into the infrastructure I am very optimistic that Bitcoin is on a good track.

Maybe they work on something new?

Also in the US regulation is different when you trade contracts; thus they might want to avoid legal hassles. I know this for sure from another US based company which also does not offer a market for contracts.

Seems all altcoins are going south at the moment:

http://clevermining.com/profits

You have to take into account the prices for a meaningful statement. For example, Zen Hashlet cost $ 21, GM pricing is between $15 to $18.