[BTC-TC] CryptX introduces the PETA-MINE - 18,000 CHIPS IN SEPTEMBER/UPDATE

[001sonkit]

The first batch will consist of 50,000 shares. CryptX will sell these shares through BTC-TC at a fixed price of 0.65 BTC per share. The sale of the first batch will close when all shares are sold.

You should be issueing a 50k order instead of a 2.5k

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[Mutated btc]

hmm,

so we have to wait 3 month until they deploy?

i emailed him, no reply, so maybe you guys know more i think

[FloatesMcgoates]

Hmm, at 2.5k initial shares this might not be such a bad investment.

However, the contract clearly states that there would be 50k initial shares - what has prompted this change and what do you plan to do with the other shares? I certainly dont want to invest believing the IPO is 2.5k when there is the possibility of another 97.5k being dumped.

2.5k is actually a reasonable offering, there is absolutely no chance that 50k shares will be sold for this IPO - just take a look at HOSTED-MINING for reference.

[Mutated btc]

some how i have feeling issuer is buying himself?

[dhenson]

Hmm, at 2.5k initial shares this might not be such a bad investment.

However, the contract clearly states that there would be 50k initial shares - what has prompted this change and what do you plan to do with the other shares? I certainly dont want to invest believing the IPO is 2.5k when there is the possibility of another 97.5k being dumped.

2.5k is actually a reasonable offering, there is absolutely no chance that 50k shares will be sold for this IPO - just take a look at HOSTED-MINING for reference.

I'm confused by that too... The 100 purchase was me, not the issuer.

[Mutated btc]

Hmm, at 2.5k initial shares this might not be such a bad investment.

However, the contract clearly states that there would be 50k initial shares - what has prompted this change and what do you plan to do with the other shares? I certainly dont want to invest believing the IPO is 2.5k when there is the possibility of another 97.5k being dumped.

2.5k is actually a reasonable offering, there is absolutely no chance that 50k shares will be sold for this IPO - just take a look at HOSTED-MINING for reference.

I'm confused by that too... The 100 purchase was me, not the issuer.

uh ok,  i see it moving by 10x

first 5, then 10, then 100

[Mutated btc]

btw help me out a bit, do we really have to wait until December for hashing?

im afraid i cant wait, market and difficulty might swoop big time

[dhenson]

btw help me out a bit, do we really have to wait until December for hashing?

im afraid i cant wait, market and difficulty might swoop big time

Yes, this mine will be using Cointerra chips that will release in mid December.

The network will most likely be between 3.5-6PH by then.

[FloatesMcgoates]

Not sure why Cryptx decided to log off almost immediately launching his IPO with a share count that was completely unexpected, I am sure many potential investors are waiting for answers regarding what will happen to the rest of the shares before deciding whether to jump in or not.

Edit: I see he has changed it to 50k, well I'm out have fun with this one - I don't see it going anywhere

[yuansuyi]

With raised fund of first batch shares,  PETA can buy all shares of ActM on BTCT.CO with doubled price(0.009).

[BitCsByBit]

btw help me out a bit, do we really have to wait until December for hashing?

im afraid i cant wait, market and difficulty might swoop big time

Yes, this mine will be using Cointerra chips that will release in mid December.

The network will most likely be between 3.5-6PH by then.

The chips will be realised mid December if there are no delays. Then they need to be assembled. I'd say it will be lucky if they are hashing end of Jan.

[bobboooiie]

How does 5 YES and 4 NO-es make it acceptable ? Such a weird thing... why are the NOes even there for then ?

[FloatesMcgoates]

Hmm, at 2.5k initial shares this might not be such a bad investment.

However, the contract clearly states that there would be 50k initial shares - what has prompted this change and what do you plan to do with the other shares? I certainly dont want to invest believing the IPO is 2.5k when there is the possibility of another 97.5k being dumped.

2.5k is actually a reasonable offering, there is absolutely no chance that 50k shares will be sold for this IPO - just take a look at HOSTED-MINING for reference.

I'm confused by that too... The 100 purchase was me, not the issuer.

Do you seriously think this company is correctly valued at twice labcoin's value? All this guy is doing is buying 3rd party mining hardware while companies are out there developing their own ASICs.

[Mutated btc]

btw help me out a bit, do we really have to wait until December for hashing?

im afraid i cant wait, market and difficulty might swoop big time

Yes, this mine will be using Cointerra chips that will release in mid December.

The network will most likely be between 3.5-6PH by then.

The chips will be realised mid December if there are no delays. Then they need to be assembled. I'd say it will be lucky if they are hashing end of Jan.

maybe he went off with smile , hoping to login back and see the money .

but hey, wait a min, didnt ken say in his update, that he will change some plan due to market,  now i smell ken(ActM) is planning to build PH/s miner

[gogxmagog]

How does 5 YES and 4 NO-es make it acceptable ? Such a weird thing... why are the NOes even there for then ?

why is the red bat even there?
http://www.youtube.com/watch?v=jHy1TzhIrAU

[cryptx]

hmm,

so we have to wait 3 month until they deploy?

i emailed him, no reply, so maybe you guys know more i think

Yes, systems based on CoinTerra's chip will be deployed in December. We are reviewing different options to start hashing sooner (e.g. if our batch of 10k Avalon chips ever gets delivered).

[cryptx]

How does 5 YES and 4 NO-es make it acceptable ? Such a weird thing... why are the NOes even there for then ?

It's actually 2 NO-s, but yeah, I'm thinking of protesting about this. On the other hand as an exchange one does not really have to fairly evaluate whether a company justifies its IPO price, the bottom line is just good faith and clear contract terms.

About profitability, ASICMINER blades now cost less than BTC0.4 per GH/s with much less waiting time, and even USB miners at BTC1.17 per GH/s would likely be more profitable than BTC0.65 per GH/s three months later. This IPO is a train wreck. It is much more professionally presented than many other mining companies, but shareholders are at a very bad position to earn their IPO money back.

edit: typos

To justify the share price of 0.65BTC, this is for a guaranteed 10 GH/s (not 1 GH/s). We will also invest in an additional 20% or 2GH/s per share sold, all mining revenue from this additional 20% will go to public shareholders until the initial investment of 0.65BTC/share is recovered in dividends..

[001sonkit]

How does 5 YES and 4 NO-es make it acceptable ? Such a weird thing... why are the NOes even there for then ?

Voldemort has the privilege to answer your question

[torbank]

I especially like this bit:

For example, if CryptX ultimately deploys the mine after mid January, 2014, an additional 200 TH/s of power will be added to the PETA-MINE completely free of charge to shareholders, and each share will be entitled to 12 GH/s of hash power. If the company starts deployment after February 15, 2014, it will add an additional 20% on top of the previous 20%. In that case, each share would be entitled to 14.4 GH/s of hash power.

[Zubilica]

it begins