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

[VonSpecht]

PETA-MINE shareholders always had and always will have voting rights!
As stated: All shares are entitled to an equal percentage of dividends and all shares sold in the IPO are considered voting shares.

Ok, good to hear that. But, to having "voting rights" and "voting power" are obviously two different things?? 

So, if "The shareholders are 100% owners of the PETA-MINE" (from your contract), but "The shares have no voting power" (from your contract), then who have the voting power? 

[cryptx]

PETA-MINE shareholders always had and always will have voting rights!
As stated: All shares are entitled to an equal percentage of dividends and all shares sold in the IPO are considered voting shares.

Ok, good to hear that. But, to having "voting rights" and "voting power" are obviously two different things??  

So, if "The shareholders are 100% owners of the PETA-MINE" (from your contract), but "The shares have no voting power" (from your contract), then who have the voting power?  

Shareholders are 100% owner of PETA-MINE and shares have voting power. Also see the motion (that is where we corrected the typo).

[VonSpecht]

PETA-MINE shareholders always had and always will have voting rights!
As stated: All shares are entitled to an equal percentage of dividends and all shares sold in the IPO are considered voting shares.

Ok, good to hear that. But, to having "voting rights" and "voting power" are obviously two different things??  

So, if "The shareholders are 100% owners of the PETA-MINE" (from your contract), but "The shares have no voting power" (from your contract), then who have the voting power?  

Shareholders are 100% owner of PETA-MINE and shares have voting power! Also see the motion (that is where we corrected the typo).

Ok sorry, that was my mistake, I did't noticed the motion.. But I'm still wondering, how it's possible in any way to do that kind of "typos"?  

[BitCsByBit]

wait wait wait....

now you're mixing something up.
noone here from PETA-MINE stated that burnin is going to assemble their Bitfury chips - i assumed that, because burnin is the only person I KNOW who's probably capable of doing that for the moment....
...AND because he seems to be the partner for their upcoming Cointerra chips (see opening post) - btw. I asked him about the Cointerra design too and I'm curious about his answer.

So please, if you don't have a concrete answer to my question (which all potential buyers should be interested in), than...let's leave at this.

Actually I'm pretty sure that when this thread was created it was stated in the OP that burnin is testing the Bitfurry chips and that PETA-MINE sent him the sample chips.

I can't find that any more, so I guess it was removed.

Also, Drillbit System Mining assembly are capable of assembling the Bitfurry chips.

[Swordsoffreedom]

I'm new to this asset can someone tell me what's going on

[Vedran Yoweri]

I'm new to this asset can someone tell me what's going on

As i see it, cryptx started a ipo for a big fat peta hash mine with cointerra chips. Because it takes some time for the cointerra chips to ship Criptx is doing some bitfury deals to generate dividents faster, for free.

Some guys are going completely balistic about typo's and 'changes' to the deal, like they were done harm. I could understand this if they where competitors. If they are potential investors i cannot, they just would not invest. Maybe it's personal, i don't know.
I think it's a gutsy move starting this big mine, in europe, with Cointerra supplying the beef.

Changes are positive for me as a shareholder, so i keep my shares. If not then i sell, it's that simple. No need to give these guys a hard time, they did me no wrong.

[klee]

I'm new to this asset can someone tell me what's going on

As i see it, cryptx started a ipo for a big fat peta hash mine with cointerra chips. Because it takes some time for the cointerra chips to ship Criptx is doing some bitfury deals to generate dividents faster, for free.

Some guys are going completely balistic about typo's and 'changes' to the deal, like they were done harm. I could understand this if they where competitors. If they are potential investors i cannot, they just would not invest. Maybe it's personal, i don't know.
I think it's a gutsy move starting this big mine, in europe, with Cointerra supplying the beef.

Changes are positive for me as a shareholder, so i keep my shares. If not then i sell, it's that simple. No need to give these guys a hard time, they did me no wrong.

Maybe they want cheap shares but what do I know? 

[VonSpecht]

I also confirm, that the new one is clearly better in every aspects. There's actually quite much tiny changes, but in my opinion as a shareholder, all of these seems positives and the whole contract is now more consistent (it's easy to comparing them for e.g. by this: http://www.diffchecker.com/diff).

[Vedran Yoweri]

I'm new to this asset can someone tell me what's going on

As i see it, cryptx started a ipo for a big fat peta hash mine with cointerra chips. Because it takes some time for the cointerra chips to ship Criptx is doing some bitfury deals to generate dividents faster, for free.

Some guys are going completely balistic about typo's and 'changes' to the deal, like they were done harm. I could understand this if they where competitors. If they are potential investors i cannot, they just would not invest. Maybe it's personal, i don't know.
I think it's a gutsy move starting this big mine, in europe, with Cointerra supplying the beef.

Changes are positive for me as a shareholder, so i keep my shares. If not then i sell, it's that simple. No need to give these guys a hard time, they did me no wrong.

Maybe they want cheap shares but what do I know? 

Could be, but i think it's the competition. Very unprofessional.
But its also good for PETA-MINE, if they need to lower themselves to these levels, they must be scared. 

[cryptx]

I also confirm, that the new one is clearly better in every aspects. There's actually quite much tiny changes, but in my opinion as a shareholder, all of these seems positives and the whole contract is now more consistent (it's easy to comparing them for e.g. by this: http://www.diffchecker.com/diff).

Thanks for the diff checker tip!

You can check it out here:
http://www.diffchecker.com/j0dofqjs

[cryptx]

UPDATE 08/09/2013

PETA-MINE revenue forecast with our September deployment:

https://docs.google.com/spreadsheet/ccc?key=0AjI5bgsiFJAidDRWR3RBYXdtR0JEb3JqdmlxYVpmTmc#gid=0

*Please note that this scenario is just an example and does not represent the future or actual profits. These figures do not include the electricity, hosting and maintenance costs.

[bbxx]

Is it possible to set Bart and Joeri salary at 200k€/month and count it as maintaince cost?

If not how you are earning ?

I am sceptical about forum users with 1 month account asking for milions of dollars.

Is it possible to grab ipo bitcoins, sell them and run away?

[001sonkit]

this thread has turned into a big mess

The IPO originally is a big mess.

[dhenson]

UPDATE 08/09/2013

PETA-MINE revenue forecast with our September deployment:

https://docs.google.com/spreadsheet/ccc?key=0AjI5bgsiFJAidDRWR3RBYXdtR0JEb3JqdmlxYVpmTmc#gid=0

*Please note that this scenario is just an example and does not represent the future or actual profits. These figures do not include the electricity, hosting and maintenance costs.

I'm bullish on Peta-Mine, but I think people should really read https://bitcointalk.org/index.php?topic=283820.0 before investing.  Think Cryptx's spreadsheet as 'best case' and the difficulty presented in this chart as 'worst case'.



Obviously actually compiling an estimate from pre-orders is a more accurate way of forecasting difficulty.

The truth lies somewhere in the middle.

[cryptx]

@Dhenson
Thanks for the post.

Difficulty estimates are, beside the BTC exchange rate, the hardest forecasts to make for a Bitcoin mining investor. I’m seeing a shift from the tendency to underestimate the hashrate to the tendency to overestimate the future hashrate.

If every ASIC producer out there had delivered what they promised, we would have a tenfold in hashrate right now. I assume this is also going to be the case for the next couple of months. Delays are already dripping in. In my opinion the curve will not be that steep and not that high.
 
Nevertheless the whole ballgame is changing very fast and it is the task of the management of the PETA-MINE to take this all into consideration and to anticipate to future developments. We feel very confident about our first deployment, as it’s imo the most reliable, fastest and economical strategic choice that can be made at this time.

[dhenson]

@Dhenson
Thanks for the post.

Difficulty estimates are, beside the BTC exchange rate, the hardest forecasts to make for a Bitcoin mining investor. I’m seeing a shift from the tendency to underestimate the hashrate to the tendency to overestimate the future hashrate.

If every ASIC producer out there had delivered what they promised, we would have a tenfold in hashrate right now. I assume this is also going to be the case for the next couple of months. Delays are already dripping in. In my opinion the curve will not be that steep and not that high.
 
Nevertheless the whole ballgame is changing very fast and it is the task of the management of the PETA-MINE to take this all into consideration and to anticipate to future developments. We feel very confident about our first deployment, as it’s imo the most reliable, fastest and economical strategic choice that can be made at this time.

I agree, we are all trying to estimate network hash rate to varying degrees of success.  I was in no way inferring that you were being dishonest or deceitful, just optimistic.

I do have one last question that has been nagging at me and I'm surprised it hasn't been discussed.  Initially with the 100k shares, you seemed to have issued yourself 16,666 of the 100,000 shares. (only 83,333 were initially released out of the 100,000).  I may have just missed it in the motion, but are you still issuing yourself 16,333 shares? If so that seems incredibly excessive.  Based on the re-worded motion it doesn't look like you have any shares being held back.  10k offered, 10k publicly sold.

I'm not wording this question well, but what I really want to know is how will dividends be calculated assuming only 10k shares are sold?

((BTC mined - (Elec+hosting+maintenance)) * .65) / 10,000 ?

[cryptx]

I agree, we are all trying to estimate network hash rate to varying degrees of success.  I was in no way inferring that you were being dishonest or deceitful, just optimistic.

I do have one last question that has been nagging at me and I'm surprised it hasn't been discussed.  Initially with the 100k shares, you seemed to have issued yourself 16,666 of the 100,000 shares. (only 83,333 were initially released out of the 100,000).  I may have just missed it in the motion, but are you still issuing yourself 16,333 shares? If so that seems incredibly excessive.  Based on the re-worded motion it doesn't look like you have any shares being held back.  10k offered, 10k publicly sold.

I'm not wording this question well, but what I really want to know is how will dividends be calculated assuming only 10k shares are sold?

((BTC mined - (Elec+hosting+maintenance)) * .65) / 10,000 ?

This answer is under the pretense our ongoing motion will get approved.

We will not issue any shares to ourselves. This means public shareholders are 100% owners of the PETA-MINE.

The free extra 20% of hashpower (with a minimum of 20 TH/s) will pay dividends until 0.65 BTC is recovered by every shareholder.
(this is also included in the revenue doc)

If only 10k shares are sold, dividends are calculated as you stated:

BTC mined - (Elec+hosting+maintenance)) * .65) / 10,000

Reinvestments are calculated as follows:

BTC mined - (Elec+hosting+maintenance)) * .35) / 10,000

(reinvestment of the 20% free hashpower will also be owned by public shareholders)

[dhenson]

I agree, we are all trying to estimate network hash rate to varying degrees of success.  I was in no way inferring that you were being dishonest or deceitful, just optimistic.

I do have one last question that has been nagging at me and I'm surprised it hasn't been discussed.  Initially with the 100k shares, you seemed to have issued yourself 16,666 of the 100,000 shares. (only 83,333 were initially released out of the 100,000).  I may have just missed it in the motion, but are you still issuing yourself 16,333 shares? If so that seems incredibly excessive.  Based on the re-worded motion it doesn't look like you have any shares being held back.  10k offered, 10k publicly sold.

I'm not wording this question well, but what I really want to know is how will dividends be calculated assuming only 10k shares are sold?

((BTC mined - (Elec+hosting+maintenance)) * .65) / 10,000 ?

This answer is under the pretense our ongoing motion will get approved.

We will not issue any shares to ourselves. This means public shareholders are 100% owners of the PETA-MINE.

The free extra 20% of hashpower (with a minimum of 20 TH/s) will pay dividends until 0.65 BTC is recovered by every shareholder.
(this is also included in the revenue doc)

If only 10k shares are sold, dividends are calculated as you stated:

BTC mined - (Elec+hosting+maintenance)) * .65) / 10,000

Reinvestments are calculated as follows:

BTC mined - (Elec+hosting+maintenance)) * .35) / 10,000

(reinvestment of the 20% free hashpower will also be owned by public shareholders)

That was the answer I was hoping for.  Thank you.

[cryptx]

UPDATE 09/09/2013

CRYPTX BUYS DATACENTER

CryptX is pleased to announce the purchase of its own datacenter.

The datacenter has an initial power capacity to host 300 TH/s of Bitcoin mining equipment. The capacity can be expanded if necessary. The electricity costs can be kept at a minimum due to our on-site solar plant of 350,000 Watt. The first deployment of 20 TH/s at the end of September has a monthly total cost, including electricity, maintenance and hosting, of maximum 5,000$.

The purchase of the datacenter is the second milestone in the development of the PETA-MINE. This enables CryptX to run the mine very cost efficient.

[dhenson]

UPDATE 09/09/2013

CRYPTX BUYS DATACENTER

CryptX is pleased to announce the purchase of its own datacenter.

The datacenter has an initial power capacity to host 300 TH/s of Bitcoin mining equipment. The capacity can be expanded if necessary. The electricity costs can be kept at a minimum due to our on-site solar plant of 350,000 Watt. The first deployment of 20 TH/s at the end of September has a monthly total cost, including electricity, maintenance and hosting, of maximum 5,000$.

The purchase of the datacenter is the second milestone in the development of the PETA-MINE. This enables CryptX to run the mine very cost efficient.

Cryptx,

Awesome news! 

The bitcoin investment market is interesting right now as most people are playing the labcoin/activemining movements at the moment and don't want to tie their investment funds up in a security that can't really increase in value until ~ 5000 more btc are invested.  There really isn't much penalty for investors to wait until the 28th to buy.

Notice how the FUD stopped once you clarified the 10,000 share release scheme?  Everyone was trying to keep others from investing because they wanted the 20TH dividends split fewer ways. I personally don't care for those games as I've invested the amount in PETA-MINE that I want to hold long and I have different funds I'm playing the short game with.

Don't take the lack in volume to mean lack of interest.  You're doing a great job with this security, keep it up!