[HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit)

[nwfella]

These lketc units do look pretty sweet though.  Looks like they're giving ole bitmain a run for their money!

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[spartan82]

well lets all hope btc rises because if it doesnt we can kiss our investment goodbye after paying $0.45/kw per week.

[ujka]

That drop to $500 happened two days ago, on rumors that Central Bank of China will 'ban' bitcoin.
That rumor is appearing every few weeks and bitcoin is 'under siege' from that from December.

[trek27]

Protracted btc price under 300$ seems to be rather a low probability event.
Though, at certain point, by being too greedy with regard to the hosting fee CryptX could prematurely wipe out shareholders value. Of course, this would also mean no reinvestment funds and no growth for CryptX's business in current model.

Personally, I see this additional risk as a price for 'comfortable' mining - I don't care for electricity, cooling, noise, hardware ... or hosting fee elsewhere. On the other hand, those who care for all these things could be more 'invincible' in case of really hard times for btc/usd exchange rate. Nothing is for free.

[VonSpecht]

Thanks for the update! And I suppose that you guys have made some little background work about the LK Group Ltd. before you sent that 108 BTC to them, right? At least their website raises more questions than answers about the company itself...

Edit: there seems to be an another company too in China with exactly the same name but doing slightly bigger machines: http://www.lktechnology.com/?page=product

Looks legit, these are aka dragon miners

see this thread : https://bitcointalk.org/index.php?topic=523634.0

What did you expect for reinvestments ?

Yes, you are probably right about the LK Group, it seems legit. I did not expect anything and miners from China is not a problem for me. Actually Chinese manufacturers have kept their promises better than any others so far plus their prices are of course relativity cheap. It's because these products are always less or more just copies and many of the single parts are coming in anyway from China, so they can just wait until someone brings out completely working product and then use their very effective production lines to copying them, or just the best parts of them. Bitmine could ever have such capacities in Switzerland. But it's still worth to remember that there's also a lot of scammers on the market and losing some 100 BTC or more in this situation would be like a hard blow below the belt for this project at the moment... And that was my actual point.

[mikemikemike]

Realistic point of view.

This project failed in rising, because of 3 factors:
-3 months delay  
-one month earnings for 10 % rise of volume, market speeding up with 30 % a month
-bitcoin price is harming

projected share price end of april: 0,05
projected share price end of mai: 0,03 - 0,04

woooo king of the trolls is back

[IamNotSure]

Realistic point of view.

This project failed in rising, because of 3 factors:
-3 months delay  
-one month earnings for 10 % rise of volume, market speeding up with 30 % a month
-bitcoin price is harming

projected share price end of april: 0,05
projected share price end of mai: 0,03 - 0,04

woooo king of the trolls is back

Sadly I agree with him... Look at the reinvestment. 5 weeks of reinvestment money to buy 18 Th/s when the next difficulty increase will eat this reinvestment in less than 10 days. It is difficult but we have to face reality, and with the low BTC price it is not so bright...

The only real hope is the custom PCB, but cryptx gave no news on that side.

[mikemikemike]

Realistic point of view.

This project failed in rising, because of 3 factors:
-3 months delay  
-one month earnings for 10 % rise of volume, market speeding up with 30 % a month
-bitcoin price is harming

projected share price end of april: 0,05
projected share price end of mai: 0,03 - 0,04

woooo king of the trolls is back

Sadly I agree with him... Look at the reinvestment. 5 weeks of reinvestment money to buy 18 Th/s when the next difficulty increase will eat this reinvestment in less than 10 days. It is difficult but we have to face reality, and with the low BTC price it is not so bright...

The only real hope is the custom PCB, but cryptx gave no news on that side.

we added nearly 50 units in the last two weeks - im not as worried about the PCB's because we are beginning to ramp up delivery massively even with the current production issues - and all because CryptX didn't update us right now on the PCBs doesn't mean we are never going to see them, just maybe not in the next couple of weeks, or maybe he is waiting for exact news from the manufactures, who knows, lets not jump to conclusions so quickly

i still don't think this was a bad update, considering the huge ramp up in delivery, if there are still huge production issues, i believe we will see an even bigger increase in hashing over the next week or two as these production issues are sorted out. plus, the reinvestment strategy they have chosen with the new supplier appears to be a good one

im thinking were all still good - people are panicking too much about the lack of clarification on the PCBs IMO

[BiteMyShinyMetalAss]

If we could get any inforamation about PCBs, i would be so happy!

[mikemikemike]

Realistic point of view.

This project failed in rising, because of 3 factors:
-3 months delay  
-one month earnings for 10 % rise of volume, market speeding up with 30 % a month
-bitcoin price is harming

projected share price end of april: 0,05
projected share price end of mai: 0,03 - 0,04

woooo king of the trolls is back

Sadly I agree with him... Look at the reinvestment. 5 weeks of reinvestment money to buy 18 Th/s when the next difficulty increase will eat this reinvestment in less than 10 days. It is difficult but we have to face reality, and with the low BTC price it is not so bright...

The only real hope is the custom PCB, but cryptx gave no news on that side.

we added nearly 50 units in the last two weeks - im not as worried about the PCB's because we are beginning to ramp up delivery massively even with the current production issues - and all because CryptX didn't update us right now on the PCBs doesn't mean we are never going to see them, just maybe not in the next couple of weeks

i still don't think this was a bad update, considering the huge ramp up in delivery, if there are still huge production issues, i believe we will see an even bigger increase in hashing over the next week or two as these production issues are sorted out. plus, the reinvestment strategy they have chosen with the new supplier appears to be a good one

im thinking were all still good - people are panicking too much about the lack of clarification on the PCBs IMO

IF YOU WANT TO BELIEVE IN SOMETHING, THAN YOU GO TO THE CHURCH.  Business is backed with numbers! Its math, stupid! 50 Units worth 6500 BTC?

ahahha, please tell me your not serious? you couldn't have just made a post stressing about the importance of basic math fundamentals in business logic and then claimed all we own is 50 units from bitmine. ahahahahaaa, btw, is that your bot that just got turned on?

[lynn_402]

ahahha, please tell me your not serious? you couldn't have just made a post stressing about the importance of basic math fundamentals in business logic and then claimed all we own is 50 units from bitmine. ahahahahaaa, btw, is that your bot that just got turned on?

Let me ask you something. You REALLY BELIEVE in 770 TH in two weeks?? now with 150 TH and ordered more 18 TH?

and yes of course i want to buy cheap and sell on a high.

Two weeks is indeed unrealistic, but even if it takes a month and a half to get to 770 th, it will be profitable, and the actual share price seems quite fair for that scenario.

[mikemikemike]

ahahha, please tell me your not serious? you couldn't have just made a post stressing about the importance of basic math fundamentals in business logic and then claimed all we own is 50 units from bitmine. ahahahahaaa, btw, is that your bot that just got turned on?

Let me ask you something. You REALLY BELIEVE in 770 TH in two weeks?? now with 150 TH and ordered more 18 TH?

and yes of course i want to buy cheap and sell on a high.

ahahahaaa, your such an idiot for admitting that. firstly, everyone here who was born after the millennium knows your figures are about as real as the unicorns north korea found, plus your logic resembles that of a toddler whos just had a tooth removed, so i've always wondered what your motive was, and boooom, its now apparent

and ofcourse we are not going to be at 770TH in two weeks, if that was the case the share price would be around 0.3 and not the 0.07 it is now

anyways, im smiling, i've now worked out who the two major bot owners are which has been plaguing me for a while

feel free to turn off the bot and actually trade yourself, its easy to fall into a state of delusion about your own mental abilities when you have a computer to do all the work for you

and maybe go back to school... and stay off those drugs aswell

[pedrog]

Relevant: http://www.immersion-cooling.com/publications/Analysis_of_Large-Scale_Bitcoin_Mining_Operations.pdf

[nwfella]

Realistic point of view.

This project failed in rising, because of 3 factors:
-3 months delay  
-one month earnings for 10 % rise of volume, market speeding up with 30 % a month
-bitcoin price is harming

projected share price end of april: 0,05
projected share price end of mai: 0,03 - 0,04

woooo king of the trolls is back

Sadly I agree with him... Look at the reinvestment. 5 weeks of reinvestment money to buy 18 Th/s when the next difficulty increase will eat this reinvestment in less than 10 days. It is difficult but we have to face reality, and with the low BTC price it is not so bright...

The only real hope is the custom PCB, but cryptx gave no news on that side.

No additional news on custom PCB is killing this project.  Seemingly nothing being done on this side of things?  We all know bitmine is dragging their feet and will likely continue to do so while they mine with the remainder of our equipment.  But if this project doesn't get something done on the custom-board front soon it's doomed imho.

[mikemikemike]

Realistic point of view.

This project failed in rising, because of 3 factors:
-3 months delay  
-one month earnings for 10 % rise of volume, market speeding up with 30 % a month
-bitcoin price is harming

projected share price end of april: 0,05
projected share price end of mai: 0,03 - 0,04

woooo king of the trolls is back

Sadly I agree with him... Look at the reinvestment. 5 weeks of reinvestment money to buy 18 Th/s when the next difficulty increase will eat this reinvestment in less than 10 days. It is difficult but we have to face reality, and with the low BTC price it is not so bright...

The only real hope is the custom PCB, but cryptx gave no news on that side.

No additional news on custom PCB is killing this project.  Seemingly nothing being done on this side of things?  We all know bitmine is dragging their feet and will likely continue to do so while they mine with the remainder of our equipment.  But if this project doesn't get something done on the custom-board front soon it's doomed imho.

the only way this project is 'doomed' is if the price of bitcoin goes low and stays low, and then we fail to adjust the reinvestment percentage


apart from that, and cryptX suddenly deciding 'fuck this',this project is fine. i'd love to see anyones figures proving otherwise

[nwfella]

Doomed wasn't appropriate.  More accurate to say my hopes of realizing any sort of profit and potential appreciation of stock value goes straight out the window.  Let me be clear, I don't really think petamine will ever be 'doomed'.  cryptx will continue hashing along so long as it is profitable to do so.  We as investors however are in a far different boat.  If cryptx isn't able to keep up daily network growth rate let alone make additional gains on it towards trying to capture 1% of the network share price will continue to decline from here.  And no, 18TH for 5 weeks worth of reinvestment isn't going to cut it.  Granted, it's probably the best deal around, but the custom-board project is this projects only real chance of meeting it's stated goals imho.

[mikemikemike]

Doomed wasn't appropriate.  More accurate to say my hopes of realizing any sort of profit and potential appreciation of stock value goes straight out the window.  Let me be clear, I don't really think petamine will ever be 'doomed'.  cryptx will continue hashing along so long as it is profitable to do so.  We as investors however are in a far different boat.  If cryptx isn't able to keep up daily network growth rate let alone make additional gains on it towards trying to capture 1% of the network share price will continue to decline from here.  And no, 18TH for 5 weeks worth of reinvestment isn't going to cut it.  Granted, it's probably the best deal around, but the custom-board project is this projects only real chance of meeting it's stated goals imho.

you make a fair opinion, but you cant look at the last 5 weeks and argue that the value of reinvestment we have accrued over this time is representative of what we gain in the future. we have quickly gone from 0 to 150TH/s in that time, which means we have received increasing returns over that period, this means every week we increase in size and the amount we can reinvest will get larger, this causes the previous weeks investment amount to become less significant in parallel to the rate we increase in size. thats why using a mean average to ascertain what we will gain in the future, especially while we are growing at the rate we are growing at now, is completely wrong and gives you what i would call a 'bullshit' projection

look, im working from home next week and if i get some time ill put together some solid financial projections, but for now, what is being said on this forum is mostly incorrect and utterly misleading, i feel really sorry for the serious investors here who are having the stability of there investment destroyed by people who have no idea what they are talking about. i hope my opinion here makes sense as to why i am so brutal to people who make false and misleading claims on this forum

[nwfella]

Doomed wasn't appropriate.  More accurate to say my hopes of realizing any sort of profit and potential appreciation of stock value goes straight out the window.  Let me be clear, I don't really think petamine will ever be 'doomed'.  cryptx will continue hashing along so long as it is profitable to do so.  We as investors however are in a far different boat.  If cryptx isn't able to keep up daily network growth rate let alone make additional gains on it towards trying to capture 1% of the network share price will continue to decline from here.  And no, 18TH for 5 weeks worth of reinvestment isn't going to cut it.  Granted, it's probably the best deal around, but the custom-board project is this projects only real chance of meeting it's stated goals imho.

you make a fair opinion, but you cant look at the last 5 weeks and argue that the value of reinvestment we have accrued over this time is representative of what we gain in the future. we have quickly gone from 0 to 150TH/s in that time, which means we have received increasing returns over that period, this means every week we increase in size and the amount we can reinvest will get larger, this causes the previous weeks investment amount to become less significant in parallel to the rate we increase in size. thats why using a mean average to ascertain what we will gain in the future, especially while we are growing at the rate we are growing at now, is completely wrong and gives you what i would call a 'bullshit' projection

look, im working from home next week and if i get some time ill put together some solid financial projections, but for now, what is being said on this forum is mostly incorrect and utterly misleading, i feel really sorry for the serious investors here who are having the stability of there investment destroyed by people who have no idea what they are talking about. i hope my opinion here makes sense as to why i am so brutal to people who make false and misleading claims on this forum

You too make a valid point with regards to the value of reinvestment being accrued over time representing what we gain in the future.  However I would disagree about the quickly part of 0 to 150TH/s.  

Would be more than happy to look at your financial projections and always open to differing opinion.  Hoping they can show me some glimmer of light as I do consider myself to be a "serious" investor albeit an uber-tiny one.  I welcome your input since you seem to have a tendency to raise valid realworld points.

[stompysteve]

with asicminer gen 3 successful, any ideas about getting a large batch of chips from them like rockminer is doing

[Usman056]

with asicminer gen 3 successful, any ideas about getting a large batch of chips from them like rockminer is doing

that would make waaay too much sense