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

[dhenson]

http://www.coindesk.com/belgiums-finance-minister-has-no-objection-to-bitcoin/

Cryptx, did you have anything to do with this?   

[MilkyLep]

I'm sorry, but this addendum to your contract in current motion status made me chuckle.

PETA-MINE Deployment Date

First deployment is scheduled for the end of September 2013. The CryptX management team is well aware of the importance of timing the mine’s deployment. It is also aware of the very poor track record of meeting time schedules in the Bitcoin mining space and recognize that potential sources of such delays include chip failure, PCB failure, or chip delivery problems. CryptX will protect PETA-MINE shareholders against such delays by adding 20% additional hash power for each 30 days the company exceeds its target deployment date.

-snip-

The headline for the given section reads "Deployment Date", yet no specified date is given. Just end of September. How is additional "free" hashrate supposed to be added 30 days after missed deployment date when there is no deployment date?

And for shareholders who have skimmed over Creativex's post regarding shareholder protection, I suggest you go back and read his concerns.

If the motion passes, PETA-MINE's IPO can NOT fail. Perhaps some additions such as the 20th of bitfury chips/gear appear beneficial, but thats looking at the short term imho.

[dhenson]

I'm sorry, but this addendum to your contract in current motion status made me chuckle.

PETA-MINE Deployment Date

First deployment is scheduled for the end of September 2013. The CryptX management team is well aware of the importance of timing the mine’s deployment. It is also aware of the very poor track record of meeting time schedules in the Bitcoin mining space and recognize that potential sources of such delays include chip failure, PCB failure, or chip delivery problems. CryptX will protect PETA-MINE shareholders against such delays by adding 20% additional hash power for each 30 days the company exceeds its target deployment date.

-snip-

The headline for the given section reads "Deployment Date", yet no specified date is given. Just end of September. How is additional "free" hashrate supposed to be added 30 days after missed deployment date when there is no deployment date?

And for shareholders who have skimmed over Creativex's post regarding shareholder protection, I suggest you go back and read his concerns.

If the motion passes, PETA-MINE's IPO can NOT fail. Perhaps some additions such as the 20th of bitfury chips/gear appear beneficial, but thats looking at the short term imho.

  1) 30 days after the end of September would be Nov. 1st (duh?)
  2) Did you want the IPO to fail? If so, why did you buy shares?  Shareholders have voted and %71.4 have approved.  As a large shareholder I definitely do not want it to fail and am looking forward to riding this asset to a large gain.

[MilkyLep]

My point is this contract is adding room for more assumptions. Assumptions have no place of belonging in a contract.

Do I want this IPO to fail? No. Do I care if it succeeds. Not really.

What I want from this IPO is a clear, concise, concrete contract which favors an equality of shareholders and issuer alike. I have yet to witness this.

Your response came across very emotional, which is understandable, I urge you to be cautious. Don't overlook the present while waiting to ride towards your large gain.

And for the record, thirty days from September 30, 2013 would indeed be October 30, 2013.

[dhenson]

As I'm sure you are aware there is a very common tactic to spread FUD in order to fill low bids.  Just spend 5 minutes watching the Labcoin thread and you will see what I mean.  This blatant manipulation pisses me off.  I'm not interested in tricking other shareholders into market selling for my own profit and when I see others do it I lose respect and the tone comes across in my responses.  If that wasn't your intention then I apologize for the (duh?) bit.

Creativex has admitted to trying it here. 

This is getting boring. People waiting for the update all day long and screaming like kids. Please.. can we move on ?

It seems the opportunistic manipulators don't realize that when they admit to manipulating it decreases their effectiveness at manipulating.

Listen guys, I'm at work so I'll join you all later....

Don't start the party without me,  it's gonna be a whole lot of fun!!  

Hashing but no info to post. Labcoin no where to be found. I'm calling BS on this now.

Wow dropping so fast. Labcoin bagholder anyone?

Oh well I took my IPO profits. I really wanted to believe in Labcoin but they make it incredibly difficult. Good luck to the remaining shareholders.

Yep bids are getting pulled and I don't blame them. Most with a decent amount will be stuck soon.

here we go folks, leaving .003 soon. There are still some bids open though.

You might get lucky? The sell off continues.

My bids filled. I think there are some happy campers now.

This is just priceless. Be sure to read the last line.

So many sheeple, I can't help myself.

This is nothing compared to PETA-MINE. Gonna need a truckload of smelling salts over there.

I'm actually torn on the issue for this stock as it's in my best interest for 10,000 shares to be sold before the IPO completing on the 27th and not 10,001.  If the 10,001st share is sold prior to the IPO finishing then an additional 10k shares will be issued thus suppressing the value of the the existing shares until the additional 10k is sold.

It's in my best interest to stay silent, but that would be the same as supporting the FUD.  For that reason I've decided to call out bullshit when I see it.  I just hope this doesn't lead to feeding the trolls and promoting the very behavior I'm trying to suppress.

[creativex]

Creativex has admitted to trying it here.

Please read your own post. What happened is not what you described. You attributed a post to me that I did not make.

It seems the opportunistic manipulators don't realize that when they admit to manipulating it decreases their effectiveness at manipulating.

Listen guys, I'm at work so I'll join you all later....

Don't start the party without me,  it's gonna be a whole lot of fun!!  

Hashing but no info to post. Labcoin no where to be found. I'm calling BS on this now.

Wow dropping so fast. Labcoin bagholder anyone?

Oh well I took my IPO profits. I really wanted to believe in Labcoin but they make it incredibly difficult. Good luck to the remaining shareholders.

Yep bids are getting pulled and I don't blame them. Most with a decent amount will be stuck soon.

here we go folks, leaving .003 soon. There are still some bids open though.

You might get lucky? The sell off continues.

My bids filled. I think there are some happy campers now.

This is just priceless. Be sure to read the last line.

So many sheeple, I can't help myself.

https://bitcointalk.org/index.php?topic=263445.msg3130396#msg3130396

[dhenson]

Look at your own post history... you posted FUD here:

blah, blah edit...
The IPO will prove successful with the sale of at least 30,000 shares. If fewer than 30,000 shares sell within 30 days, CryptX will refund the entire IPO to shareholders.

.. blah, blah

And then your very next post was to the Labcoin thread talking about (and I'm paraphrasing) how it was going to be difficult to FUD PETA-MINE because nobody is responding over here.

This is nothing compared to PETA-MINE. Gonna need a truckload of smelling salts over there.

Your intention was/is clear.

[Vedran Yoweri]

Original Contract:

Shareholder Protection
The IPO will prove successful with the sale of at least 30,000 shares. If fewer than 30,000 shares sell within 30 days, CryptX will refund the entire IPO to shareholders. What’s more, the fact that no shares beyond those offered at IPO will ever be issued means shareholders need not fear dilution of the value of their shares.
Proposed Contract:

Shareholder Protection

Dude, you look like a kid with a personality disorder, ranting nonsense in a competitor's thread.

People who are looking to invest try to find assets with stable, professional management and the best potential return. If they look here then they see your behavior and cryptx's.

You are not doing yourself, or your investors any favors.

[creativex]

My intention is to make it plainly clear that cryptx is misleading investors by including conflicting clauses within his contract, lying about calling it a typo, & editing clauses within his motions to mislead further. This is PLAINLY working as you're TOTALLY unaware that the post you JUST made is completely incorrect. After that contract change motion passes there will be NO date in which this IPO will be declared unsuccessful. You are obviously not aware of this because you plainly have not read the motion. Likely you just assumed that there was good stuff added in there and the rest remained unchanged. This is what SebastianJu believed as well when he posted above.

I'm actually torn on the issue for this stock as it's in my best interest for 10,000 shares to be sold before the IPO completing on the 27th and not 10,001.  If the 10,001st share is sold prior to the IPO finishing then an additional 10k shares will be issued thus suppressing the value of the the existing shares until the additional 10k is sold.

It's in my best interest to stay silent, but that would be the same as supporting the FUD.  For that reason I've decided to call out bullshit when I see it.  I just hope this doesn't lead to feeding the trolls and promoting the very behavior I'm trying to suppress.

[creativex]

You guys are so busy fighting the good fight against the perceived FUD threat that you're not even reading the contract and motions issued by management of the security you're investing in. If you had you'd know that you have no right to vote for the motion that restores your right to vote. Now, without reading the motion you've voted to remove the date in which this IPO would've been declared unsuccessful and funds returned to investors. IOW you're behaving like lemmings.

[creativex]

[SebastianJu]

I'm not interested in tricking other shareholders into market selling for my own profit and when I see others do it I lose respect and the tone comes across in my responses.

The shares are available at IPO-Price... so it does not look to me like that would work.

[cryptx]

We are pleased to announce that our motion has passed with a staggering amount.

YES: 1768 - NO: 6 - ABSTAIN: 0 - OUTSTANDING: 2300 (1768/2300 = 76.9% Approval)

Or 99,66% of all votes are pro the contract change.

[Vedran Yoweri]

Heya CryptX,
Can you give us a update about bitfury and or cointerra developments? Thanks.

[cryptx]

We can surely do that.

We are very busy making all arrangements for the deployment of the first 20 TH/s.
 
The design of the board is finished, some tests with a full prototype are still left to do. This is a final check that has to be done before we order all the boards. We could already order the PCB’s now, but we want to make 100% sure there are no mistakes made there.

The Bitfury chips we have ordered are ready to be picked up this Friday! We will have them perfect on schedule.

In the meantime we are also setting up our datacenter, so everything is ready when the assembled boards arrive.

We will be back with more info shortly.

[MilkyLep]

So I take it IPO shares are at .66 now?

Seems like volume continues to stay up there while outstanding shares remain the same.

Will you have some pics of the data center once youve finished getting everything ready sans miners?

[cryptx]

So I take it IPO shares are at .66 now?

Seems like volume continues to stay up there while outstanding shares remain the same.

Will you have some pics of the data center once youve finished getting everything ready sans miners?

Their are some offers on the ask above our IPO ask. This means shares are going from 1 shareholder to another. This is why the number of outstanding shares does not change.

We will update our progress here.

[cryptx]

Some pictures of the boards we are going to deploy for the 20TH end of September:

[BitThink]

Chips already on the board?

[cryptx]

Chips already on the board?

These are pictures of the proto-type boards. Mass production starts next week in Germany.