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Author Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit)  (Read 563106 times)
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October 14, 2013, 10:18:41 PM
 #1

PetaMine is a hosted mining project with current capacity of 1150 TH/s of hashing power. Each unit represents 1 GH/S of mining power with daily dividend payout.

Core hardware for the mine are the 28nm chip units from Cointerra and Bitmine and optimized chip from BitFury. These devices have outstanding specifications when it comes to power consumption and hashing power,which, in turn, means CryptX will be able to keep power and hosting costs at a minimum ($0.15 per GH per month).

Strategic partnership with leading hardware designers/manufacturers means CryptX will have access to future chip developments at the most competitive rates on the market.

Deployment started mid February. Stats can be viewed here:

http://www.petamine.co/stats/

More info can be found on http://www.petamine.co
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October 14, 2013, 10:51:09 PM
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Can a link to the wallet your mining to be posted?

I'd like to monitor the live hashrate...can details be posted please?
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October 14, 2013, 10:58:22 PM
 #3

And... here's the link to the discussion while on btct
https://bitcointalk.org/index.php?topic=280570

Archive btct contract before btct goes down.

CryptX Business Goals

CryptX’s primary goal is to provide opportunities for the public to invest in the Bitcoin mining business. The company will do this by offering shares of a PETA-MINE, a hosted mining project with an initial maximum capacity of 1,000,000 GH/s of hashing power.

CryptX hereby offers an asset (its PETA-MINE) for shares in the profit of the company’s operation. CryptX will offer a maximum of 100,000 shares, where every share represents 10 GH/s of hashing power.

For every share sold, CryptX will invest in an additional 20% hashpower, with a minimum of 20 TH/s, which will be deployed as early as the end of September. All mining revenue from this additional 20% will go to public shareholders until 0.65 BTC/share is recovered in dividends.

The PETA-MINE’s hashing power will represent a percentage of the total hashing power of the entire Bitcoin network. This percentage will decrease whenever the hashing power of the network increases. To mitigate this issue, CryptX will reinvest 35% of the mine’s net revenue in additional hashing power. This means that as the PETA-MINE continues to grow, each share will, in turn, represent more hashing power. 65% of the net revenue will be paid to shareholders through a weekly dividend.

Deployment of the PETA-MINE will start at the end of September 2013.

Shareholder Information

CryptX will issue a maximum of 100,000 non-dilutable PETA-MINE shares at IPO. Each share represents at least 10 GH/s of the total hash power of the PETA-MINE, and shareholders will receive a weekly dividend payment every Friday.

For every share sold, CryptX will invest in an additional 20% hashpower, with a minimum of 20 TH/s, which will be deployed as early as the end of September. All net mining revenue from this additional 20% will go to public shareholders until the initial investment of 0.65 BTC/share is recovered in dividends.

All shares are entitled to an equal percentage of dividends and all shares sold in the IPO are considered voting shares. No shares beyond these 100,000 will ever be sold or created in the future, so shares can never be diluted.

CryptX will issue shares in batches of 10,000 with a maximum of 100,000 shares. Each batch of 10,000 shares will be divided in blocks of 2,000 shares. The first block of 2,000 shares starts at 0.65 BTC. Price with each new block will increase with 0.01 BTC.

Shareholder Protection

After 27 September 2013, we won't issue new batches of 10,000 shares. The IPO will continue to run until the last issued batch of 10,000 shares is sold. For example if 6,000 shares are sold on 27 September, a maximum of 10,000 shares will be issued. For example if 15,000 shares are sold on 27 September, a maximum of 20,000 shares will be issued.

CryptX will regularly update all relevant information about the PETA-MINE so shareholders can evaluate the performance, capital outlay, and future of the project. It will make this information available through a regular shareholder newsletter, periodic updates to its website (cryptx.com), and a forum it will create on bitcointalk.org dedicated exclusively to CryptX news.

CryptX will pay weekly dividends to shareholders amounting to a percentage share of ownership in the PETA-MINE. CryptX will not change the direction or goal of the PETA-MINE without shareholder votes as per the statutes of BTC-TC.

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.

For example, if CryptX ultimately deploys the mine after mid-January, 2014, an additional 20% 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 mid-February, 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.

Dividends

Dividends will automatically appear in shareholders’ Bitcoin wallets every Friday around 15:00 GMT.  Dividends will consist of 65% of PETA-MINE net revenue for the week. Net revenue is defined as the total of all Bitcoins mined minus electricity, hosting, and mine maintenance costs.

The percentage of the net revenue paid in dividends can change if shareholders vote to change it. Such action will only occur if the state of the Bitcoin mining space demands it.

Reinvestment

Every week, CryptX will reserve for reinvestment purposes a percentage of earned Bitcoins equal to 35% of net revenue. These investments will allow CryptX to produce and deploy additional hardware. Time of deployment for this additional hardware will be in the best interest of shareholders.

Because of the unique partnership between CryptX and Cointerra, a world-class semiconductor engineering company, future investments in the PETA-MINE will occur at the most competitive prices. CryptX will also have first access to future chip designs direct from Cointerra.

While the reinvestment percentage is subject to change via shareholder vote, such action will only occur if the state of the Bitcoin mining space demands it.

Terms and Conditions

Each share represents minimum 10 GH/s of PETA-MINE net revenue. Net revenue, once again, is defined as Bitcoins earned by the mine minus electricity, hosting, and maintenance costs. 65% of net revenue will be paid in dividends every Friday around 15:00 GMT. CryptX will then reinvest 35% of net revenue in additional mining capacity. Every shareholder is also entitled to his or her share of net revenue from hashing power reinvestments. The 65%/35% distribution rule will also apply to hardware acquired through reinvestment.

The shares have voting power. Shares of PETA-MINE on BTC-TC do not represent real world shares of CryptX. The shares are solely a distribution mechanism for rights to profits from the PETA-MINE. Profit distribution will not be dependent on BTC-TC existence; in the event BTC-TC closes down, the equity will be moved to another trading platform. If no adequate platform exists, CryptX will manually transfer payouts to shareholders’ Bitcoin addresses.

The issuer has no right to release additional shares at any time or for any price. Thanks to this limitation, the value of initial shareholders’ shares is non-dilutable. The issuer does, however, have the right to change the price and/or quantity of any scheduled sale batches of shares.

 

 

Below is the OLD NO LONGER VALID CONTRACT

CryptX Business Goals

CryptX’s primary goal is to provide opportunities for the public to invest in the Bitcoin mining business. The company will do this by offering shares of a PETA-MINE, a hosted mining project with a capacity of 1,000,000 GH/s of hashing power.

CryptX hereby offers an asset (its PETA-MINE) for shares in the profit of the company’s operation. CryptX will offer 100,000 shares, where every share represents 10 GH/s of hashing power.

The PETA-MINE’s hashing power will represent a percentage of the total hashing power of the entire Bitcoin network. This percentage will decrease whenever the hashing power of the network increases. To mitigate this issue, CryptX will reinvest 35% of the mine’s net revenue in additional hashing power. This means that as the PETA-MINE continues to grow, each share will, in turn, represent more hashing power. 65% of the net revenue will be paid to shareholders through a weekly dividend.

Deployment of the PETA-MINE will occur mid December, 2013.

Shareholder Information

CryptX will issue 83,333 out of 100,000 non-dilutable PETA-MINE shares at IPO. Each share represents 1/100,000 of the total hash power of the PETA-MINE, and shareholders will receive a weekly dividend payment every Friday. The PETA-MINE will deploy with a capacity of 1,000,000 GH/s where one share represents 1 GH/s in hashing power.

The company will issue shares in two batches:

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.
The second batch will consist of the remaining 33,333 shares and will sell at a fixed price of 0.7 BTC per share. The sale of the second batch will close when all shares are sold.
All shares are entitled to an equal percentage of dividends and all shares sold in the IPO are considered voting shares. A total of 83,333 out of 100,000 shares will sell at IPO. No shares beyond these 100,000 will ever be sold or created in the future, so shares can never be diluted.

For every share sold, CryptX will invest in an additional 20% hashpower. All mining revenue from this additional 20% will go to public shareholders until the initial investment of 0.65BTC/share is recovered in dividends.

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.

CryptX will invest in an additional 20% hashpower for every 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.

CryptX will regularly update all relevant information about the PETA-MINE so that shareholders can evaluate the performance, capital outlay, and future of the project. It will make this information available through a regular shareholder newsletter, periodic updates to its website (cryptx.com), and a forum it will create on bitcointalk.org dedicated exclusively to CryptX news.

CryptX will pay weekly dividends to shareholders amounting to a percentage share of ownership in the PETA-MINE. CryptX will not change the direction or goal of the PETA-MINE without shareholder votes as per the statutes of BTC-TC.

PETA-MINE Deployment Date

PETA-MINE deployment is scheduled for mid December, 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.

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.

Dividends

Dividends will automatically appear in shareholders’ Bitcoin wallets every Friday around 15:00 GMT.  Dividends will consist of 65% of PETA-MINE net revenue for the week. Net revenue is defined as the total of all Bitcoins mined minus electricity, hosting, and mine maintenance costs.

The percentage of the net revenue paid in dividends can change if shareholders vote to change it. Such action will only occur if the state of the Bitcoin mining space demands it.

Reinvestment

Every week, CryptX will reserve for reinvestment purposes a percentage of earned Bitcoins equal to 35% of net revenue. These investments will allow CryptX to produce and deploy additional hardware. Time of deployment for this additional hardware will be in the best interest of shareholders.

Because of the unique partnership between CryptX and Cointerra, a world-class semiconductor engineering company, future investments in the PETA-MINE will occur at the most competitive prices. CryptX will also have first access to future chip designs direct from Cointerra.

While the reinvestment percentage is subject to change via shareholder vote, such action will only occur if the state of the Bitcoin mining space demands it.

Terms and Conditions

Each share represents 1/100,000 of PETA-MINE net revenue. Net revenue, once again, is defined as Bitcoins earned by the mine minus electricity, hosting, and maintenance costs. 65% of net revenue will be paid in dividends every Friday around 15:00 GMT. CryptX will then reinvest 35% of net revenue in additional mining capacity. Every shareholder is also entitled to his or her share of net revenue from hashing power reinvestments. The 65%/35% distribution rule will also apply to hardware acquired through reinvestment.

The shares have no voting power. Shares of PETA-MINE on BTC-TC do not represent real world shares of CryptX. The shares are solely a distribution mechanism for rights to profits from the PETA-MINE. Profit distribution will not be dependent on BTC-TC existence; in the event BTC-TC closes down, the equity will be moved to another trading platform. If no adequate platform exists, CryptX will manually transfer payouts to shareholders’ Bitcoin addresses.

The issuer has no right to release additional shares at any time or for any price. Thanks to this limitation, the value of initial shareholders’ shares is non-dilutable. The issuer does, however, have the right to change the price and/or quantity of any scheduled sale batches of shares.
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October 14, 2013, 11:04:42 PM
 #4

Can a link to the wallet your mining to be posted?

I'd like to monitor the live hashrate...can details be posted please?

I second that.
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October 14, 2013, 11:08:31 PM
 #5

Some questions I had from the other thread.

For crypt:

Why are the remaining available shares being sold at 0.065 btc, instead of 0.066 btc?

Actually, since the IPO hasn't completed, how would the plan to return 0.065 btc of the initial investment in dividends work out? Or those who invest after Fri will not have this protection?

for anyone else:
Has anyone compared the last version of the contract on btct with the much shorter version now on cryptostocks.com?
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October 14, 2013, 11:37:39 PM
 #6

The lack of volume on cryptostocks and the questions regarding their security after being hacked concern me.  Obviously, where you list is completely up to you Cryptx, but I would be curious as to why you chose cryptostocks over Havelock.  If other securities begin to migrate over, the volume should be resolved... Only time will tell.


how would the plan to return 0.065 btc of the initial investment in dividends work out? Or those who invest after Fri will not have this protection?

That would be my guess.  The only way to track it would be to record the total dividend/share.  If for example .02 in dividends had been paid by the time a new investor buys, they will only end up with .045 in dividends via the initial 20TH before the 100TH comes online in December (with Cointerra hardware).
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October 14, 2013, 11:50:37 PM
 #7

they could distribute a total of 0.065 x current outstanding shares.  which means the earlier investors get greater protection, and later ones get less.
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October 15, 2013, 07:53:13 AM
 #8

After reading previous contracts and posts, I understand that this initial 20TH mine isn't setup with the money from this fund - it's a private investment, by Cryptx, to guarantee us the return of our initial investment in shares, while we wait for cointerra hardware.
They don't have to show the mining address.
And this dividends will be issued up to the value of 0.065btc (per share), starting with this week. Those who buy shares later will miss first dividend(s) and their return from 20TH mine will be lower.
When the first 100TH mine with cointerra hardware is deployed, I expect to see public mining address.
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October 15, 2013, 07:55:20 AM
 #9

The lack of volume on cryptostocks and the questions regarding their security after being hacked concern me.  Obviously, where you list is completely up to you Cryptx, but I would be curious as to why you chose cryptostocks over Havelock.  If other securities begin to migrate over, the volume should be resolved... Only time will tell.

Havelock isn't accepting any new listings right now according to Namworld (as mentioned in the news-postings for his assets on BTCT).
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October 15, 2013, 03:03:03 PM
 #10

The lack of volume on cryptostocks and the questions regarding their security after being hacked concern me.  Obviously, where you list is completely up to you Cryptx, but I would be curious as to why you chose cryptostocks over Havelock.  If other securities begin to migrate over, the volume should be resolved... Only time will tell.

We have applied but like Rannasha posted: they are not accepting new listings.
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October 15, 2013, 03:04:40 PM
 #11

After reading previous contracts and posts, I understand that this initial 20TH mine isn't setup with the money from this fund - it's a private investment, by Cryptx, to guarantee us the return of our initial investment in shares, while we wait for cointerra hardware.
They don't have to show the mining address.
And this dividends will be issued up to the value of 0.065btc (per share), starting with this week. Those who buy shares later will miss first dividend(s) and their return from 20TH mine will be lower.
When the first 100TH mine with cointerra hardware is deployed, I expect to see public mining address.

Correct
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October 15, 2013, 06:28:05 PM
 #12

Some shareholders have not sent their cryptostocks.com credentials.
Please mail us the email address you used in your cryptostocks.com account.

You do not want to miss dividend payment this Friday!

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October 15, 2013, 06:38:47 PM
 #13

Hey Cryptx I just wanted to say thank you for quickly and correctly transferring over my shares to cryptostocks. I know this transition is tough but thanks for hanging in there. Because of the way you handled this transfer I intend to buy some more shares soon.

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October 15, 2013, 07:12:47 PM
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Hey Cryptx I just wanted to say thank you for quickly and correctly transferring over my shares to cryptostocks. I know this transition is tough but thanks for hanging in there. Because of the way you handled this transfer I intend to buy some more shares soon.

Ditto!
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October 15, 2013, 08:18:36 PM
 #15

Subscribing post to observe
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October 15, 2013, 08:53:09 PM
 #16

reserved

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October 16, 2013, 12:10:44 PM
 #17

UPDATE 16/10/2013

PETAMINE HASHRATE:

https://docs.google.com/spreadsheet/ccc?key=0AjI5bgsiFJAidHN5OHJ4ajVtSUhtcFhCV2hvVFduV2c#gid=0


We will continuously update this spreadsheet with the current Hashrate.
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October 17, 2013, 10:09:13 PM
 #18

After cashing out my shares at [BASIC] -Mining with creative X I am very interested in reinvesting with PETA-MINE. Looks like you guys run things well.

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October 17, 2013, 11:59:21 PM
 #19

Heads up cryptx, under insurance on your peta-mine insurance sub section on your website there is a fairly serious typo.

Quote
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 1.2 GH/s of hash power.

It should be an additional 20th not 200 right?
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October 18, 2013, 07:37:57 AM
 #20

Quote
So, based on the 10 x 2313 shares outstanding on btct + 11 new shares sold on cryptostocks, we can expect to see 300 / (23130+11) ~= 0.01296 btc dividends per share this friday?
Some bigger 'players' stepped in - new shares bought in batches of 2 or 3, even 4 thousands.
~43,000 shares sold now, dividend will be be around 0.007 ?
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