You mean sell hardware that was bought at >5BTC/TH, that the current share price values at ~2.2 BTC/TH  for just~0.7 BTC/TH as he has been trying?

Yeah, Im sure thats gonna turn things around.


I dont have a crystal ball, but I do have a brain that does give me a good idea of what is going to happen. If you have no clue what the future looks like, you shouldnt be investing in to anything.


You give me far too much credit. If it was because of me, would you really want to buy any asset that can lose 75% of its its value overnight just because someone trolls?

Funny how I predicted that people would accuse me of causing this once my predictions started panning out. So not only did you just prove I can indeed foresee the future, I even have the ability to alter it. And I wont shut up just because you ask me to. I know you're desperate to sell your shares at an outrageous good price, if you had listened to me earlier you would have been able to.

My simulations also assume a rapid deceleration of network growth.
But please, do show me the network assumptions that would warrant buying cryptx shares at current price.

Here is the thing: any difficulty growth scenario you would come up with to make cryptx look like even a remotely interesting investment, if applied to the latest asics to hit the market (antminer S3, asicminer, Neptune's, .) would make them unbelievably profitable, especially to anyone with access to fairly cheap electricity. As a logical consequence, your network growth scenario is going to underestimate reality by a huge amount, unless you can also come up with a reason why no one would keep buying and deploying those "unbelievably profitable" asic's.

Around here, being able to do a long division gives you all the mystical powers of a prophet. So yeah, to you, I am indeed a prophet.


You mean, there isnt a contract he is supposed to respect?
There isnt a satoshi in the reinvestment fund, there is a frigging big loan that is already acutely in danger of never getting paid back. Short of closing shop and running away there is nothing unexpected he could do unless  his name is santa claus..

No one ever said it would. Remember I used only 7% per week in my simulations. Even in the  very unlikely event the next difficulty would drop a little bit (Im willing to bet it wont), we are still way above the assumptions I used in my projections because of the previous 25% increase. Also keep in mind that an early big rise followed by a slower rise (or even a small drop) is far worse than a more constant rise.

183 BTC in the wallet with a little over a day to go.

https://blockchain.info/charts/balance?timespan=30days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=1PETAmNrgdzx3FwzJPNuhx18JVKdGtwWt6

If you're lucky its going to be (~230 - 73) / 2 =~77 BTC in dividends or ~0.001 per share.  Exactly half of what it was only a month ago and on track to never pay back the loan.

This thread reminds me so much of BurtW's thread where he bragged about his BTCST "profits". Such a shame he deleted it.

There is a difference between mining turds and the other turds. The other turds should be obvious, they are simply bubble machines, investing in stuff that is already grossly overvalued. Its really Usagi's Nyan A/B/C/BIF/etc all over again. But you can not use simple math to prove they are turds and its theoretically even possible they pan out.

OTOH mining turds are both easier to see through if you use some simple math but at the same time, its less obvious to those not familiar with bitcoin mining dynamics. Clueless investors see high initial dividends and read about fortunes being earned by miners and think its gotta be a solid investment, when in reality its a mathematically near certainty they will lose.

Anyway, in other news


Washington-based MegaBigPower (MBP) is North America’s largest mining operation. The mine, which generates millions of dollars worth of bitcoin per month, began developing its franchisee network earlier this year. Now, the company is planning a broad expansion effort that could add as much as 50 PH/s in mining power per month to the network.




http://www.coindesk.com/megabigpower-launches-global-franchisee-network-add-50phs-per-month-bitcoin-network/


Good luck with that 2% goal.

More likely, who doesnt know what we know.

Calculations that assumed 7%/week growth and 100% reinvestment ROI, neither of which seem very likely. There is a price at which this is worth buying, but it aint very high.

Thats long gone. Some support now only at ฿0.004.  Thats a cool 96% drop from the last IPO 5 weeks ago. Like I said, Ive seen lots of braindead investments, but Peta takes the cake.

How's the long term looking Dhenson?

And after KnC is done shipping Neptunes, they will deploy them in their second private mega mine. And then the next rise will be caused by a flood of asicminer gear, then one caused by 28nm Antminers, then one caused by 28nm Bitfiry's, etc, etc. Its not gonna stop anytime soon, and by the time exponential growth does stop, your crytpx shares will look as worthless as a 200MH/s FPGA today.


Lol. Make that "2-4 months".

I would hope so. However, the value of the mining equipment drops roughly proportionally to difficulty too. Once that equipment is no longer even operationally profitable for cryptx, dont expect to get much for it anymore.

See this chart:
https://blockchain.info/charts/hash-rate

?

Your dividend is the reciprocal of that curve. In fact,its even worse than that. The price is tanking because some people are finally doing some math and finding out what this is really worth.

HF is a case of gross mismanagement and under capitalization.  They are sitting on a huge pile of chips (60K or something? If I remember that right, thats >40PH) but they dont have the money for the PCBs and the rest.
AM, I wouldnt worry. The rumor that they are selling at cost is most likely a misunderstanding, if not deliberate misinformation, and is about AM delivering chips to franchising partners in return for mining revenue.

Not sure what you are saying. You just calculated a total return of 0.011 which is in line with the optimistic estimates Ive been making for some time. What that means is that a 0.011 BTC share price would seem reasonable (though that assumes a rapid deceleration of network growth. We may well hit 7% or lower, but not likely in the next few weeks which matter most). Its still trading around 0.03. The bubble is deflating, it hasnt popped yet.

You make it sound as if asic vendors would cancel their production if they could. Nothing could be further from the truth, we are still very far away from the point where asic vendors can not produce hardware that has an excellent ROI for them, regardless if thats achieved by selling with huge margins or by mining in their cheap electricity mega farms.

At current BTC price, for most big players, this point wont be reached before the network is on the order of 500-1000PH. Thats where the "pipeline" may become an issue. Right now, its still very much a full throttle race.

And if you believe that, would you rather have bitcoins or cryptx shares?

Reality check. These where crypx' projection at the IPO:
https://docs.google.com/spreadsheet/ccc?key=0AjI5bgsiFJAidHNCdDBqOTV2Zmt6ZW9PbWdvZDV1M3c#gid=0

By his estimate, the network would by this date be at 10PH. In reality its 125-130PH. Are you sure this is the guy you want to give your dividends, ie bitcoins  to to '"re"invest them for you?
Are you sure you want him to buy hashrate with your money so he can charge $2000/TH/year in hosting fees?
THink for a second.

Whats done is done, there is no turning back. All thats left is a bit of dividends for a few more months, and you suggest ensuring even that gets thrown away.

ROFL.. sure. Assuming difficulty will remain constant from today on.