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

[cryptoconomist]

thanks Cryptx for the hard work looking forward to the "next few weeks"  

1) CEX.IO is a good move for now. I still believe setting up our own mining pool should be a project for Peta in the near future

2) I vote against using reinvestment to buy cex ghs. Nerveless I believe it is in the interest of shareholders to use some of the reinvestment to support Peta shares, by doing so Peta would providing liquidity and increase our div. unless of course we need the money now to start our "own ASIC production"

P.S. weak hands please sell below IPO price... real investors will buy and hold!

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[E f f e c T]

Has anyone here actually run the numbers instead of blindly believing what a load of kids on this forum are saying?

Seriously. Stop believing all this FUD and start thinking for yourself.

CryptX, thanks for the update, please keep up the excellent work and I look forward to your next update.

I'll donate one bitcoin to anyone who can prove, with figures and competent logic, that these shares are overvalued. From someone who has run the figures, with multiple realistic scenarios, none of you are winning this bet, infact, I argue, most of these people claiming this project is dead are not even competent enough to run a proper analysis

This is basing a 30% yield as an acceptable return, which if you look at even the best performing securities over the past year, is extremely high.

I look forward to your responses, this is going to be very very entertaining, it should also highlight who in this thread actually knows what they are talking about, something which I am very keen to learn

[pleiotropik]

In general terms i think the btc community is in the midst of an ongoing trollnado. i wouldn't be surprised if this trollnado has its origin in one of the alphabet soup agencies.  Anybody who has followed its 4 year history can see how much FUD has been doled out... That said: any environment that has Capital formation as its main motif will be filled with a complete ecosystem of predators...

Yes i'm paranoid. i have every reason to be... have you heard about Snowden's leaks?

Keep good mental hygiene.

As for PETA: what dividend is average in S&P500?  2.2% per year. Compare... perhaps the safety(of ultralow yields) of the stock market is preferred.

[oma5]

I'm invested in a number of areas from stocks to mining and real estate. I believe that at this time PETAmine beats them all. I appreciate all the efforts everyone has put in to this mine and I look forward to continuing great results. With the share price currently approaching the IPO price (thanks to the weak hands!), not only will I be re-investing my dividends into more shares but I hope PETAmine buys back its own shares to increase our own overall return! That said, if we can stay ahead of the difficulty, this should be a great ride! The jackpot will come when the world wakes up to Bitcoin.

[jessebtc]

we are so lucky the difficulty has slowed, but its starting to ramp up now.
im jumping ship as soon as i can get on my laptop

You do understand that bitmine's problems affect rollout for many people, not just peta, and therefore that is part of why the difficulty rise has slowed?
Considering the tone of your previous post, I look forward to you jumping ship and no longer posting on this forum.  I and others are buying shares, please put yours up for sale.
J

[BiteMyShinyMetalAss]

At least Bitmine is producing and problems are  clear:"customs are holding the equipment". If we  look to the BFL, nothing is clear there.  While its not 100%  success for PETA, but its not that bad as people try to depict in this forum. Maybe people expected to be a millionaires tomorrow, well that aint happening, so please sell your shares (cheaper the better) and good luck.
For I believe its an intentional FUD to encourage people to sell their shares. Not like I complain, its good for me, as I can pay lesser price...

P.s. Why are we still talking about buying GH/s from CEX? How come this is even a question?

[dhenson]

P.s. Why are we still talking about buying GH/s from CEX? How come this is even a question?

At no point did Cryptx mention purchasing hash from ghash.io.  As far as I can tell, that is ignorant speculation.

[babcoccl]

we are so lucky the difficulty has slowed, but its starting to ramp up now.
im jumping ship as soon as i can get on my laptop

You do understand that bitmine's problems affect rollout for many people, not just peta, and therefore that is part of why the difficulty rise has slowed?
Considering the tone of your previous post, I look forward to you jumping ship and no longer posting on this forum.  I and others are buying shares, please put yours up for sale.
J

+1

[rdyoung]

Has anyone here actually run the numbers instead of blindly believing what a load of kids on this forum are saying?

Seriously. Stop believing all this FUD and start thinking for yourself.

CryptX, thanks for the update, please keep up the excellent work and I look forward to your next update.

I'll donate one bitcoin to anyone who can prove, with figures and competent logic, that these shares are overvalued. From someone who has run the figures, with multiple realistic scenarios, none of you are winning this bet, infact, I argue, most of these people claiming this project is dead are not even competent enough to run a proper analysis

This is basing a 30% yield as an acceptable return, which if you look at even the best performing securities over the past year, is extremely high.

I look forward to your responses, this is going to be very very entertaining, it should also highlight who in this thread actually knows what they are talking about, something which I am very keen to learn

Look back to my posts.
Recently I ran some #s comparing peta shares to the cheapest GHS/BTC I could find. I figured a fair value at the moment of 0.026btc IIRC. I think I based it on 150 days to ROI.
It wasn't a perfect comparison, but considering there aren't that many trustworthy cloudmining operations this math has to do.

Please note that I am not jumping ship like all these drama queens.
However, if you step back and look at hard #s for the current state of the operation, you get a # much lower than your belief in the future gives you. As they bring on more hardware then the fair value will increase.
I felt it more applicable to compare price per GHS rather than potential earnings because we don't know what will happen.

[rdyoung]

P.s. Why are we still talking about buying GH/s from CEX? How come this is even a question?

At no point did Cryptx mention purchasing hash from ghash.io.  As far as I can tell, that is ignorant speculation.

Indeed it is.
Someone else "NOT CRYPTX" brought it up, and I chimed in that its something to consider, not that we have to do it.

[ujka]

Status update:
- We visited Bitmine last Monday and had a conversation about the ongoing delays. Production remains an issue as they suffer a lot of delays from their manufacturer(s), components that get stuck in customs, etc. It is clear to us that however hard they try and with all good intentions, things will take some time before they really get up to speed. We follow up on their progress each day.

meaning they sweet talked you again and everything is back to where we were. we have received only 20 maybe 30 units from them in the last 10 days even after we were told delivery was ramping up. they are completely incompetent and we are relying solely on them, great. were just as fucked as all there other customers are. and no offense, but who gives a fuck about there intentions? they are either capable of delivering or not, and they are clearly not. they are absolute amateurs. if you have a CPP with them activate it and get the machines elsewhere, otherwise week in and week out they are just gonna feed you BS

Since Bitmine is 4 weeks late with the delivery of Rigs, CryptX should demand/press/whatever on them to put at least 3 or 4 persons on our production line and complete and deliver all our 165 rig units in a week:

It has happened that some partnering companies have payed us to have a different production line, where one fixed person stood in our production facility and made miners just for them.

[ddalex]

Petamine is two times more expensive as cex.io until end of Mai.
And now I want my Bitcoin!

Yes, "Petamine is two times more expensive as cex.io"

So I sold all my Petamine and am now happy mining at http://cex.io/

[E f f e c T]

Has anyone here actually run the numbers instead of blindly believing what a load of kids on this forum are saying?

Seriously. Stop believing all this FUD and start thinking for yourself.

CryptX, thanks for the update, please keep up the excellent work and I look forward to your next update.

[b]I'll donate one bitcoin to anyone who can prove, with figures and competent logic, that these shares are overvalued.[/b] From someone who has run the figures, with multiple realistic scenarios, none of you are winning this bet, infact, I argue, most of these people claiming this project is dead are not even competent enough to run a proper analysis

This is basing a 30% yield as an acceptable return, which if you look at even the best performing securities over the past year, is extremely high.

I look forward to your responses, this is going to be very very entertaining, it should also highlight who in this thread actually knows what they are talking about, something which I am very keen to learn

Do you escrow it? I can prove it by two sentense. By counting the risks together, you will find out that 30 % is just a drop on a hot stone. Bitcoin dropped this year 50 %, the difficultyrise gave the hardware 80% less value (which represents the value of the share).

Easy calculation of value:

BEST Case Speculation:

770 TH in April 25 = 770.000 * 0,008 BTC (FHA cex.io price) : BTC 6180 in Share BTC 0,072

---now we have 180 * 0,011 (cex.io price) : BTC 1980 (value of hardware + hosting --cex.io charges  15% of revenu, peta charges 30% !!!!) in Share BTC 0,025

980 TH in Mai 25 = 980.000 * 0,004 (FHM cex.io price) : BTC 3920 in Share BTC 0,048



GOOD Case Speculation:

500 TH in April 25 = BTC 4000 in Share BTC 0,05 and then in Mai around BTC 0,025

Petamine is two times more expensive as cex.io until end of Mai.

And now I want my Bitcoin!

I am in transit for the next couple of days (relocating to hawaii for a month or two) so I will reply back in more detail on Monday when I have access to my laptop,

But as for now, you argument is seriously flawed, almost beyond actually deserving a response, but I will humour you.

Firstly, you cannot use the price of a cloud mining contract to value a security, doing so discounts many major factors such as, reinvestment, owning the actual hardware, and speculation from future earnings.

As for bitcoin dropping by half this year, you are correct, but this is because we are nearing the end of our forth bubble phase. We are still up over 1000% from this time last year. Please see here for a more detailed view of the bubble phases and where we are due to be heading - http://m.imgur.com/a/5uKLU

You have also discounted any revenue from hardware sales, and any sort of moving average for a decrease in hosting costs and an increase in difficulty.

No offence, but those figures might entice someone who doesn't know what they are doing, but from someone who has spent most of his career as an analyst, your going to have to actually form a proper analysis and not just nit-pick at the numbers that give you the result you want.

And a "drop in a hot-stone"? please don't use metaphors to further your point, they sound fun to kids but any adult knows they are just a distraction from real substance.

I stress, a proper analysis will include projections very similar to the ones cryptX provided at the beginning of the project, you should then use that data to extrapolate a reasonable argument for the share price. Without accurate projections you have no basis.

Keep them coming guys. I will up the bounty to entice more people to try if I keep getting silly answers like the ones provided.

I hope you all have a great weekend, and thank you CryptX, the news that we already have working PCB designs is exactly the update I wanted to hear.

Please slap bitmine next time you see them though.

Thanks.

[Darkstone2]

I'll donate one bitcoin to anyone who can prove, with figures and competent logic, that these shares are overvalued. From someone who has run the figures, with multiple realistic scenarios, none of you are winning this bet, infact, I argue, most of these people claiming this project is dead are not even competent enough to run a proper analysis

I've already ran the numbers before. If the difficulty trend does not slow down, Petamine is toast. Even when i assume their own hashrate forecast holds (Which they missed by about 50%).

Excuse my pain skills. It's hard to draw anything with a touchpad.

http://imgur.com/P2GrJDW

These calcuations are done with 20% hashrate increment each time. Since the next difficulity increment is schedued at +24%, i have a hard time believing the average increment falls below that 20% in the short term. This leads to a share price of 0.0094 plus whatever their hardware is worth when they start liquidating it. This all assumes petamine has twice the hashrate they actually have.

When i change the network hashrate growth to 10% and the petamine hashrate numbers to what they actually have, the dividends per share is 0.0072. You can arrive at these numbers by copying this document and filling in whatever hashrate numbers you deem acceptable. This document is supplied by petamine itself, so i assume the calculations are correct.


1EtTrcsEBJXpzNd7ugovo5x9tPndzY5gw5

[E f f e c T]

I'll donate one bitcoin to anyone who can prove, with figures and competent logic, that these shares are overvalued. From someone who has run the figures, with multiple realistic scenarios, none of you are winning this bet, infact, I argue, most of these people claiming this project is dead are not even competent enough to run a proper analysis

I've already ran the numbers before. If the difficulty trend does not slow down, Petamine is toast. Even when i assume their own hashrate forecast holds (Which they missed by about 50%).

Excuse my pain skills. It's hard to draw anything with a touchpad.

http://imgur.com/P2GrJDW

These calcuations are done with 20% hashrate increment each time. Since the next difficulity increment is schedued at +24%, i have a hard time believing the average increment falls below that 20% in the short term. This leads to a share price of 0.0094 plus whatever their hardware is worth when they start liquidating it. This all assumes petamine has twice the hashrate they actually have.

When i change the network hashrate growth to 10% and the petamine hashrate numbers to what they actually have, the dividends per share is 0.0072. You can arrive at these numbers by copying this document and filling in whatever hashrate numbers you deem acceptable. This document is supplied by petamine itself, so i assume the calculations are correct.


1EtTrcsEBJXpzNd7ugovo5x9tPndzY5gw5

You have done nothing apart from draw a big X on a picture of the old projections, And a share price of 0.0094? When? You cant just say you came to a shareprice without posting your projections and methods of valuation. That is insulting to even a child's intelligence. This is the last time I respond to these opinions, I have called them opinions because they lack pretty much any basis. Either that or you are not explaining your reasoning clearly

From reading previous posts you and bcmine, and just you two, have clearly been singled out as trolls and/or bot owners. I look forward to someone else's attempts at valuing this project, and not just a clear attempt to drive down the price

[Darkstone2]

You have done nothing apart from draw a big X on a picture of the old projections, And a share price of 0.0094? When?

Read again:

These calcuations are done with 20% hashrate increment each time.

That is the only change i made to the document.

The share price is 0.0094 since that is the sum of all future, positive, dividends. In about a month or 3 the dividends will turn negative at which point the hardware should just be liquidated.


I'd appreciate any comments on how flawed PetaMine's forecast document is. Because it seems pretty solid to me. And everybody seems to rather insult me than providing actual feedback. The only feedback i have heard so far that was not covered with multiple insults was that it is unrealistic to expect an continued network growth of 20%. Something that turned out to be quite realistic.

[mmitech]

anyone of you here know where the heck these Chinese are getting this A1 chip based rminers ? they seem to be shipping from stock, a miner of 1Th/s cost less than $3K just when Bitmine are having huge problems !!!!

what the heck is going on at Bitmine? do anyone know what is really going on ? is it a problem with getting the chip?

at bitmine thread they seem to ignore answering these important questions... so Cryptx do you know anything about this ?

[E f f e c T]

You have done nothing apart from draw a big X on a picture of the old projections, And a share price of 0.0094? When?

Read again:

These calcuations are done with 20% hashrate increment each time.

That is the only change i made to the document.

The share price is 0.0094 since that is the sum of all future, positive, dividends. In about a month or 3 the dividends will turn negative at which point the hardware should just be liquidated.


I'd appreciate any comments on how flawed PetaMine's forecast document is. Because it seems pretty solid to me. And everybody seems to rather insult me than providing actual feedback. The only feedback i have heard so far that was not covered with multiple insults was that it is unrealistic to expect an continued network growth of 20%. Something that turned out to be quite realistic.

They are flawed because they are outdated. They use projections from months ago and not the accurate data we have accrued since then. This should be obvious.

Please run the current data before making any future projections

Also, anyone who knows anything about bitcoin knows 20% difficulty increases is unrealistically low.

I will post full projections using multiple scenarios and analysis after CryptX's update next Friday.

Until then, I am increasing the bounty to 2 BTC, this should entice most people on this forum to give it a go and think for themselves, something which I am actively trying to promote

[Darkstone2]

Which part of the data exactly is 'outdated'? As far as i can see the spreadsheet largely relies on 3 numbers:
The network hashrate, which i have fixed.
Petamine's own hashrate. Which i have left untouched.
The energy investment per hashrate. According to the spreadsheet about 12.5% of the mined BTC's are spent on hosting costs. last perioid the percentage of earnings actually spent on hosting costs is about 25%. Changing this would make the prediction worse.

Other outdated factors such as the reinvestment have no real impact on the outcome. Largely due the fact that i start my calculation with twice the hashrate petamine actually owns.

[crino]

The order books are pretty thin. If someone wants to sell bulk shares, via havelock transfer you are welcome to contact to arrange a deal.

81 shares at 0,1.