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

[Anotheranonlol]

Could someone clarify the dividends to invest after IPO fields?

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[hephaist0s]

Looks like petamine.co got a design update.

Logo and layout is good, white space needs to be reduced though and the top menu font is terrible.

Finally, we have a logo! Truly a momentous day!

[Collider]

if not all shares are ipo´d it will take some more time to pay off the new hardware.

If all 33k outstanding shares are sold, the new hardware will immediatly be payed for.

[Anotheranonlol]

if not all shares are ipo´d it will take some more time to pay off the new hardware.

If all 33k outstanding shares are sold, the new hardware will immediatly be payed for.

Thanks. makes sense

[kenmomotaro]

what happens when havelock goes bust? we still have our peta shares?

First, any mining equipment will go bust before we do! We've been around since mid-2012.

Second, for those of you that don't know, The Fund Manager (Cryptx) receives a CSV file every 12 hours containing the email address and the amount of units they each own.


We are also considering creating Havelock color-coins to issue to our users as a back up representing their units in our Funds.

Cheers,

We always remember we are here to serve you and not the other way around!

Havelock Investments

oh,,,now I want to buy some Havelock shares.

[Anonymousg64]

is there enough users and btc on havelock to suport PETA and SCRYPT?

we need to go campaign for them

[Anotheranonlol]

is there enough users and btc on havelock to suport PETA and SCRYPT?

we need to go campaign for them

agreed. markets here traditionally don't  have huge depth, 30k shares extra up for sale is not a tiny amount of btc needing to be flown in.. especially with scryptx on the table. Here's an idea. a bit dumb really, but perhaps it can work

1) some trusted entity pre-purchase or already owns blocks of shares in advance.
2) that entity offers these shares available to purchase for soft currencys at a premium on market rates.

Ownership is retained by the issuing entity and it operates as a pass through of sorts, with the caveat that shares aren't available for trading on open market yet, and accumulated dividends are held by the issuer (hence requirement of trust), BUT under a contract that those divs are released at a later stage along with ownership of the shares for trading.

Issuer would obviously implement some combination of auto fraud detection , ie blockscore or similar with their own manual due diligence procedures, perhaps requiring a token mailed to a physical address for proof of residence. They could have a grace period stipulated in the contract to transfer dividends, along with share ownership allowing market trades after a set period (ie 45 for pp balance funding, 60 days etc)

This way they have provided a path for anyone with soft currency to acquire hard bitcoin indirectly via peta shares

[oma5]

Now all we need is for the bitcoin price to take off and we'll really be on a roll!!!
 

[naaktslak]

Now all we need is for the bitcoin price to take off and we'll really be on a roll!!!
 

any predictions for this year? i think it'll be more than 1500$

[MrWDunne]

Now all we need is for the bitcoin price to take off and we'll really be on a roll!!!
 

any predictions for this year? i think it'll be more than 1500$

$12,000

[BiteMyShinyMetalAss]

Off topic guys, this is not the place for BTC price speculation. If there was an "article" on coindesk or cryptonews how cool we are, it would certainly attract people. Recently there was an "article" about KNC (dont remmeber correctly)  future cloud hashing, which in a sense is unprofitable. While PETA being trully promising project and one of the few (if not sole) profitable cloud mining entities.

[pedrog]

Could someone clarify the dividends to invest after IPO fields?

That's how much of our dividends will go to pay the new hardware, if all units are sold hardware is paid for, if only 10k units are sold we will not see dividends for a few weeks until 1007 bitcoins are generated in dividends so the hardware can be paid for.

[Anotheranonlol]

Have any of you actually checked the forecast?

You know the reinvestment percentage starts at 90% and only gets down to 50% by the end of September?

I will secure the long term future of the project, but this is a LONG term investment

https://docs.google.com/spreadsheet/lv?key=0AjI5bgsiFJAidHgwa0UyTHNEVG1lbDdvN2FMTExvOHc&usp=drive_web

I just did naive calculations like this

maintaining 1.5% of global hashrate = ~19723 mined in total yearly
-4536 hosting fees*, 15187 remaining.
35% (5315 btc) towards re-investments to at least maintain steady 1.5 %,
65% towards dividends -- total amount of dividends 9871.875
9871 / 100,000 = 0.09871. Based on last market price now- 105% yield.

maintaining 2% of global hashrate = 26298 mined in total yearly
-6048.54 hosting fees, 20250 remaining
35% (7087btc) towards re-investments to (at least maintain) steady 2 %,
65% towards dividends -- total amount of dividends  13162.5
13162.5 / 100,000 = 0.1316. Based on last market price now- 140% yield.

*based on last hosting fees. ~450$/btc amounted to ~23% of BTC mined. new HW is energy efficient
If $/btc rises, hosting fees go down and total dividends increase (and of course the opposite if btc drops, although if you beleived btc was gonna fall sharply you shouldn't be tying funds up on any securities).. if re-investment equipment can be acquired and setup competitively  in comparison to difficulty increases there's a chance at not only maintaining but increasing peta's % share.

AM never really peaked much above 25% from what I remember and investors were jumping in whilst they were paying well below that.
As long as petas share of global hashrate % can be maintained without slipping, which is entirely achievable, even with commodity hardware, there's no reason whatsoever this project can't be profitable long into the future, this isn't factored in, nor is earnings from any potential sales of HW

[twentyseventy]

Have any of you actually checked the forecast?

You know the reinvestment percentage starts at 90% and only gets down to 50% by the end of September?

I will secure the long term future of the project, but this is a LONG term investment

https://docs.google.com/spreadsheet/lv?key=0AjI5bgsiFJAidHgwa0UyTHNEVG1lbDdvN2FMTExvOHc&usp=drive_web

I just did naive calculations like this

maintaining 1.5% of global hashrate = ~19723 mined in total yearly
-4536 hosting fees*, 15187 remaining.
35% (5315 btc) towards re-investments to at least maintain steady 1.5 %,
65% towards dividends -- total amount of dividends 9871.875
9871 / 100,000 = 0.09871. Based on last market price now- 105% yield.

maintaining 2% of global hashrate = 26298 mined in total yearly
-6048.54 hosting fees, 20250 remaining
35% (7087btc) towards re-investments to (at least maintain) steady 2 %,
65% towards dividends -- total amount of dividends  13162.5
13162.5 / 100,000 = 0.1316. Based on last market price now- 140% yield.

*based on last hosting fees. ~450$/btc amounted to ~23% of BTC mined. new HW is energy efficient
If $/btc rises, hosting fees go down and total dividends increase.. if re-investment equipment can be acquired and setup competitively in comparison to difficulty increases there's a chance at not only maintaining % of global, but increasing peta's % share.

AM never really peaked much above 25% from what I remember and investors were jumping in whilst they were paying well below that.
As long as petas share of global hashrate % can be maintained without slipping, which is entirely achievable, even with commodity hardware, there's no reason whatsoever this project can't be profitable long into the future

This spreadsheet is showing a simple increase of 6 PH per period, which is unconscionable. The calculations should take into account at least a 15% increase per period.

[Anotheranonlol]

This spreadsheet is showing a simple increase of 6 PH per period, which is unconscionable. The calculations should take into account at least a 15% increase per period.

So instead of 6,000 TH being added to network every 10 days, you propose a perpetual 15% every 10 days

so for example
start @ 76,000 TH
10 days later 87,400  TH
10 days later 100,509 TH,
10 days later 115,586 TH
10 days later 132,924 TH
10 days later 152,862 TH
10 days later 175,791 TH
10 days later 202,159 TH
(2 months passed)

and so on and so forth till sometime in  not so distant future we'll be in exahashes adding god knows how many PH daily?

[rdyoung]

This spreadsheet is showing a simple increase of 6 PH per period, which is unconscionable. The calculations should take into account at least a 15% increase per period.

So instead of 6,000 TH being added to network every 10 days, you propose a perpetual 15% every 10 days

so for example
start @ 76,000 TH
10 days later 87,400  TH
10 days later 100,509 TH,
10 days later 115,586 TH
10 days later 132,924 TH
10 days later 152,862 TH
10 days later 175,791 TH
10 days later 202,159 TH
(2 months passed)

and so on and so forth till sometime in  not so distant future we'll be in exahashes adding god knows how many PH daily?

This is the same argument I have been making. Very few seem to understand how even 10% is not sustainable over the long term.
I am confident we have hit the wall with 28nm. I don't see any 25%+ difficulty increases in our future until the next gen.

[Anotheranonlol]

This spreadsheet is showing a simple increase of 6 PH per period, which is unconscionable. The calculations should take into account at least a 15% increase per period.

So instead of 6,000 TH being added to network every 10 days, you propose a perpetual 15% every 10 days

so for example
start @ 76,000 TH
10 days later 87,400  TH
10 days later 100,509 TH,
10 days later 115,586 TH
10 days later 132,924 TH
10 days later 152,862 TH
10 days later 175,791 TH
10 days later 202,159 TH
(2 months passed)

and so on and so forth till sometime in  not so distant future we'll be in exahashes adding god knows how many PH daily?

This is the same argument I have been making. Very few seem to understand how even 10% is not sustainable over the long term.
I am confident we have hit the wall with 28nm. I don't see any 25%+ difficulty increases in our future until the next gen.

Yes. I personally think there will be some big diff jumps ahead, but of course it does things do have to slow down at some point.

I guess can't really argue to much if you look at historical data of diff increases. and say why would anything change now when it hasn't in the past.

it's easier to just operate under set assumptions about likelihood of being able to maintain a percentage of the global hashrate. (although where you get the assumptions from is the leap of faith part) There's no crystal ball about what exactly the difficulty would be at x point in future, but data is out there about some projects which are coming online.  cryptx can forge relationships with manafacturers. there's no reason with that relationship they can't obtain even off the shelf hardware in bulk that will earn more BTC than was spent to purchase it, despite it being tried before with incompetents like icedrill.

you can be pessimistic. Imagine cryptx can only ever attain 1% of global hashrate or half what they state and still see what, 70% yield based on pretty much peak price thus far.

Assuming peta's hashrate % in relation to global hashrate is steadily maintained over a long period of time (say 6 months) if not increased I see no reason why market wouldn't self-adjust to a lower yield being acceptable.

[altoidmintz]

Our official press release:

...

To continue building a sustainable mining operation, CryptX will retain the weekly dividend it pays to unit holders until the end of the IPO. Dividends will instead be invested in additional hardware so that unit holders enjoy a much higher yield per unit. Currently, each unit represents 7.55 GH/s of total hash power. After deploying the additional 1,000 TH/s, each unit will represent 15 GH/s of hash power. Weekly dividends will be restored after IPO. Through these measures, CryptX plans to mine a total of nearly 25,000 BTC in just one year.

...

Very happy about this! More than satisfied regarding my previous comment.

[twentyseventy]

This spreadsheet is showing a simple increase of 6 PH per period, which is unconscionable. The calculations should take into account at least a 15% increase per period.

So instead of 6,000 TH being added to network every 10 days, you propose a perpetual 15% every 10 days

so for example
start @ 76,000 TH
10 days later 87,400  TH
10 days later 100,509 TH,
10 days later 115,586 TH
10 days later 132,924 TH
10 days later 152,862 TH
10 days later 175,791 TH
10 days later 202,159 TH
(2 months passed)

and so on and so forth till sometime in  not so distant future we'll be in exahashes adding god knows how many PH daily?

This is the same argument I have been making. Very few seem to understand how even 10% is not sustainable over the long term.
I am confident we have hit the wall with 28nm. I don't see any 25%+ difficulty increases in our future until the next gen.

Yes. I personally think there will be some big diff jumps ahead, but of course it does things do have to slow down at some point.

I guess can't really argue to much if you look at historical data of diff increases. and say why would anything change now when it hasn't in the past.

it's easier to just operate under set assumptions about likelihood of being able to maintain a percentage of the global hashrate. (although where you get the assumptions from is the leap of faith part) There's no crystal ball about what exactly the difficulty would be at x point in future, but data is out there about some projects which are coming online.  cryptx can forge relationships with manafacturers. there's no reason with that relationship they can't obtain even off the shelf hardware in bulk that will earn more BTC than was spent to purchase it, despite it being tried before with incompetents like icedrill.

you can be pessimistic. Imagine cryptx can only ever attain 1% of global hashrate or half what they state and still see what, 70% yield based on pretty much peak price thus far.

Assuming peta's hashrate % in relation to global hashrate is steadily maintained over a long period of time (say 6 months) if not increased I see no reason why market wouldn't self-adjust to a lower yield being acceptable.

I strongly disagree with many of the points that you've made here.

Yes, it is much easier to do use a static PH hashrate increase over a percentage increase, but if you would have done this any time since January 2013 (predict less than 8% increases, as the spreadsheet does), you would be dead wrong. Past performance is not necessarily indicative of future results, but I believe that it's there is a strong link in this case. It's easier but it's lazy and, to me, shows a lack of respect to the shareholders.

I don't disagree that a wall will come for difficulty. But now? With so many companies pumping out their new ASIC generations? And, if you're long BTC like most of us are, you simply can't ignore that a rising BTC price over the next 1-3 years will only make the mining space more crowded and competitive.

My issue here is not with cryptx's profitability or business model -  they very well may be able to forge many beneficial manufacturing contracts. My issue is simply lazy / downright irresponsible forecasts of the difficulty. I don't have any stake in any cryptx ventures, I simply point out inaccuracies when I see them. This one is glaring.

[Anotheranonlol]

I strongly disagree with many of the points that you've made here.

Yes, it is much easier to do use a static PH hashrate increase over a percentage increase, but if you would have done this any time since January 2013 (predict less than 8% increases, as the spreadsheet does), you would be dead wrong. Past performance is not necessarily indicative of future results, but I believe that it's there is a strong link in this case. It's easier but it's lazy and, to me, shows a lack of respect to the shareholders.

I don't disagree that a wall will come for difficulty. But now? With so many companies pumping out their new ASIC generations? And, if you're long BTC like most of us are, you simply can't ignore that a rising BTC price over the next 1-3 years will only make the mining space more crowded and competitive.

My issue here is not with cryptx's profitability or business model -  they very well may be able to forge many beneficial manufacturing contracts. My issue is simply lazy / downright irresponsible forecasts of the difficulty. I don't have any stake in any cryptx ventures, I simply point out inaccuracies when I see them. This one is glaring.

actually yes thats pretty reasonable. I also don't see any reason why we'd go down in diff increases all of a sudden (short term) with so much hashrate on the horizon waiting to be deployed. didn't realise anyone paid attention to the spreadsheets because they're usually not accurate, the ones I've seen previously had never made any sense. I think plugging numbers into the last one resulted in a gain of about 23,000 btc which I would of been happy with   .. would say to anyone to do your own calculations rather than rely on any given indications.