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

[mikemikemike]

if you think you have any rights as a btc investor, you are in the wrong place.
also its in investors interest to help PETA succeed, so thats why other people will help them make more money.

this is not the type of stock that gives you voting rights per share, cryptx can do as needed to secure future profitability without needing your opinion.



the only reason your on here to rant negatively and give threats is because you are butthurt you exited at the wrong time and lost the game. PETA still stands as the best investment option on havelock, regardless of the outcome of the current plans, which can only be positive.

Exited at the wrong time? I sold the majority of my long term shares yesterday at 0.093. If your talking about my trading shares then yes, I invested in Scrypt, and FYI, and as at now, 80% of the trades over the past forty eight hours have been mine.

Have you even looked at the projections?

The reason your butthurt is because I'm calling this out for what it is. If your too stupid or blind to realise that, that's your problem. But don't get this wrong, the profitability you are talking about, is profitability for them, not you. I'm actually trying to help you. But whatever.

i have looked

your concerns are that of someone butthurt, nothing more
everything you buy has a confabulated amount of profit that can be adjusted, this is what the hosting fee is,
they are probably paying less then 0.05$/kwh, i get 0.09$/kwh at residential rates
they are splitting the collocation cost between PETA and SCRYPTX
the bandwidth costs are probably not that much

They arn't splitting any costs. There are probably near zero variable costs. All I'm going to say is do your research. The projections are purposefully misleading so they can take an opportunity to maximise their own profits. If you do your research properly you will realise what's going on here.

And the fact you've actually seen the projections and are still coming here to argue speaks volumes about your state of mind allot more than it does mine.

Here's the projections for anyone that is interested. I'm expecting someone to put all the pieces together shortly.

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

Anyone who actually does some research will know exactly how they are going to bleed this project to death, using capital your going to give them. Your basicly going to pay for their retirement while everyone else here is going to be left bag holding a dying stock.

It shouldn't take a former analyst to work this out. All the facts are well within your reach, I'm just giving you a push in the right direction.

Hint. LinkedIn.

If they don't restructure this project in a way that has benefit for their investors and not just them I'm going to make another thread and post actual projections that have some basis with reality, along with how their going to make money, why they have structured this the way they have, and what's going to happen to investors. People who arn't so infatuated with this stock will understand exactly where I'm coming from.

Edit: FYI, editing your post to defame me is pointless. The facts will speak for themselves. I am doing this because I was a huge supporter of this project, someone who has told people countless times this is a good investment and they should trust these people, and I'm not going to sit here why they turn this into a way of lining their pockets and screwing investors.  I'm doing this because its the right thing to do.

Please understand, I'm 2000% up since late November day trading securities like this, the money I didn't make over the past 48 hours is equivalent to what I'd spend on a good night out at the casinos. So you can stop with the whole butthurt argument. This is about doing the right thing and writing my wrongs, not some silly trying to make myself feel better by destroying other people's investments. I'm not that sort of person.

Please, just do your research, make your own projections, and take an unbiased view. If you do that and still come back thinking this is a good investment then you should probably just buy and hold. I'm hoping by bring this to everyone's attentions cryptX will drastically change their strategy. I'm doing this for your benefit, not mine.

[mikemikemike]

Infact, fuck it. All I'm asking is for them to release realistic projections. Once they do that ill stop. All this involves is changing the difficulty from linear to exponential, which it is. Investors can then make up their own mind. Is that really so much to ask for?

I know it sounds crazy, but that changes everything. Then you should realise that this update is only beneficial to them if you realise how they are making money, and you'll then realise investors will never see a return, and thus, everyone will be left bag holding in a few months when shit hits the fan.

And if anyone tries to argue that difficulty rises are linear I will digitally slap you across this forum.

Please understand, I'm just trying to help the community. They are purposefully misleading you guys and very few people can see it.

[cryptx]

I'll just put mine here...

1 Social Media targeted ads (Facebook, YouTube, Reddit)
2 Create a Web Video ad for us to spread around, as well as for you to use on YouTube ads
3 Conduct some publicized speaking engagements at a bitcoin conference, etc, or host your own and invite all the big names.
4 Let's come up with a Twitter Hashtag - but don't bother putting money toward twitter ads. It's a poor ad platform. Nontheless, we should have a hashtag we all use to promote and there should be an official PETA/CryptX twitter account tweeting out and getting followers

Thanks! We are working at some points you suggest right now.

[michaelGedi]

Infact, fuck it. All I'm asking is for them to release realistic projections. Once they do that ill stop. All this involves is changing the difficulty from linear to exponential, which it is. Investors can then make up their own mind. Is that really so much to ask for?

I know it sounds crazy, but that changes everything. Then you should realise that this update is only beneficial to them if you realise how they are making money, and you'll then realise investors will never see a return, and thus, everyone will be left bag holding in a few months when shit hits the fan.

And if anyone tries to argue that difficulty rises are linear I will digitally slap you across this forum.

Please understand, I'm just trying to help the community. They are purposefully misleading you guys and very few people can see it.

I didn't study maths beyond high school, so basically you're saying I'm not in a good position if I'm currently invested in peta?

please elaborate as it would help me, a member of the community. When I think about it, I'm basically one of those guys who bought into neobee and didn't sell anything when it peaked at 0.006... only to sell 6.6BTC worth of shares for 0.15 a little while later. I also bought some peta shares at 0.125, although average is well below.

Basically, despite how I like to imagine, I'm a complete noob investor.


Also, I'm wondering how the IPO will actually sell from tmrw if we are currently trading below and the shares are not getting eaten up? I mean, just because the share price jumped massively last time cryptx made an announcement with regards to a hashrate increase, did the team believe that this time would be the same?

[michaelGedi]

Lastly, do you think you could tell us what that 1000BTC will be spent on cryptx? Shares or what? After all you can't be planning to buy back shares you've just aquired off market at a lower price... or can you?

[mikemikemike]

Infact, fuck it. All I'm asking is for them to release realistic projections. Once they do that ill stop. All this involves is changing the difficulty from linear to exponential, which it is. Investors can then make up their own mind. Is that really so much to ask for?

I know it sounds crazy, but that changes everything. Then you should realise that this update is only beneficial to them if you realise how they are making money, and you'll then realise investors will never see a return, and thus, everyone will be left bag holding in a few months when shit hits the fan.

And if anyone tries to argue that difficulty rises are linear I will digitally slap you across this forum.

Please understand, I'm just trying to help the community. They are purposefully misleading you guys and very few people can see it.

I didn't study maths beyond high school, so basically you're saying I'm not in a good position if I'm currently invested in peta?

please elaborate as it would help me, a member of the community. When I think about it, I'm basically one of those guys who bought into neobee and didn't sell anything when it peaked at 0.006... only to sell 6.6BTC worth of shares for 0.15 a little while later. I also bought some peta shares at 0.125, although average is well below.

Basically, despite how I like to imagine, I'm a complete noob investor.


Also, I'm wondering how the IPO will actually sell from tmrw if we are currently trading below and the shares are not getting eaten up? I mean, just because the share price jumped massively last time cryptx made an announcement with regards to a hashrate increase, did the team believe that this time would be the same?

Linear increments are when something goes up by a fixed value. For example, the projections say the hashrate will increase at about +6PH every ten days for the next year.

While what actually happens is the hashrate increases exponentially, this is when it goes up by a fixed percentage every ten days. See below

https://bitcoinwisdom.com/bitcoin/difficulty

The difference is huge. If I add 15+ 15 twenty times over I get 300, this is linear
If I add 15 by a percentage of 15 ten time over I get 1636, this is exponential.

This is the point I'm trying to make. They know this. But they are misleading people so they can maximise their own profits. The first few months will be the most profitable, but instead of pumping out dividends then are going to use it to reinvest so they can have more machines, which makes them more money. But because of the exponential difficulty increase, it will cause dividends to plummet. When this happens it he share price will plummet too.

Your basicly giving them money.

Ill post detailed projections later with a fixed reinvestment percentage of 12%, which is extremely conservative if you look at the link above. And you'll realise you'll be lucky to get 20% of your investment back over the next four months, while all this time the share price is going to fall.

My biggest issue is they know this. They know this shit like the back of their hand, but they are trying to fool people who don't know any better. All so they can make money for themselves through the hosting fees.

[cryptx]

Lastly, do you think you could tell us what that 1000BTC will be spent on cryptx? Shares or what? After all you can't be planning to buy back shares you've just aquired off market at a lower price... or can you?

You can see in this table we will be prefinancing up to 1000 BTC.

[mikemikemike]

Lastly, do you think you could tell us what that 1000BTC will be spent on cryptx? Shares or what? After all you can't be planning to buy back shares you've just aquired off market at a lower price... or can you?

You can see in this table we will be prefinancing up to 1000 BTC.

Sooo, your not actually buying or owning any shares? Why didn't you just say that before?

Makes sense when you know what's going to happen to the shareprice.

Fix the projections. Stop BSing people. It's not fair, you really have no problems knowing all these people are going to lose their investment money do you?

Seriously. You could make enough money if you did it fair. But I guess you just want to retire early. Whichever, whatever.

Anyone who doesn't listen to me now is going to regret it ten time over in three months max when the amount of BTC mined is so low that the only people making money is the data centre, a data centre these guys own, and have free electricity for.

Seriously, people. THINK. Do your own research and make your own projections. Don't just blindly think all because the hashrate is tripling this is going to benefit you, it isn't.

[michaelGedi]

Lastly, do you think you could tell us what that 1000BTC will be spent on cryptx? Shares or what? After all you can't be planning to buy back shares you've just aquired off market at a lower price... or can you?

You can see in this table we will be prefinancing up to 1000 BTC.

so is it investing or lending the 1000BTC?

I mean, you're proposing you lend the project upto 1007BTC, if 10,000 units are sold (or less?)

which you then pay back to yourselves through the dividends is that correct? otherwise, what percentage are you paid back of the prefinance from dividends?

more detailed financials would be ideal, despite the fact I wouldn't know what to do with them. But I'm sure they would be appreciated by all

[michaelGedi]

Infact, fuck it. All I'm asking is for them to release realistic projections. Once they do that ill stop. All this involves is changing the difficulty from linear to exponential, which it is. Investors can then make up their own mind. Is that really so much to ask for?

I know it sounds crazy, but that changes everything. Then you should realise that this update is only beneficial to them if you realise how they are making money, and you'll then realise investors will never see a return, and thus, everyone will be left bag holding in a few months when shit hits the fan.

And if anyone tries to argue that difficulty rises are linear I will digitally slap you across this forum.

Please understand, I'm just trying to help the community. They are purposefully misleading you guys and very few people can see it.

I didn't study maths beyond high school, so basically you're saying I'm not in a good position if I'm currently invested in peta?

please elaborate as it would help me, a member of the community. When I think about it, I'm basically one of those guys who bought into neobee and didn't sell anything when it peaked at 0.006... only to sell 6.6BTC worth of shares for 0.15 a little while later. I also bought some peta shares at 0.125, although average is well below.

Basically, despite how I like to imagine, I'm a complete noob investor.


Also, I'm wondering how the IPO will actually sell from tmrw if we are currently trading below and the shares are not getting eaten up? I mean, just because the share price jumped massively last time cryptx made an announcement with regards to a hashrate increase, did the team believe that this time would be the same?

Linear increments are when something goes up by a fixed value. For example, the projections say the hashrate will increase at about +6PH every ten days for the next year.

While what actually happens is the hashrate increases exponentially, this is when it goes up by a fixed percentage every ten days. See below

https://bitcoinwisdom.com/bitcoin/difficulty

The difference is huge. If I add 15+ 15 twenty times over I get 300, this is linear
If I add 15 by a percentage of 15 ten time over I get 1636, this is exponential.

This is the point I'm trying to make. They know this. But they are misleading people so they can maximise their own profits. The first few months will be the most profitable, but instead of pumping out dividends then are going to use it to reinvest so they can have more machines, which makes them more money. But because of the exponential difficulty increase, it will cause dividends to plummet. When this happens it he share price will plummet too.

Your basicly giving them money.

Ill post detailed projections later with a fixed reinvestment percentage of 12%, which is extremely conservative if you look at the link above. And you'll realise you'll be lucky to get 20% of your investment back over the next four months, while all this time the share price is going to fall.

My biggest issue is they know this. They know this shit like the back of their hand, but they are trying to fool people who don't know any better. All so they can make money for themselves through the hosting fees.

thanks for the reply. I get the difference between linear and exponential. It's the issues you have with the percentage change in re-invesment that I didn't understand, among other things. It did sound like there was a more complicated conspiracy you had uncovered.

You have explained now so it makes sense. I guess this marks the beginning of another debate about whether difficulty can rise exponentially forever or not.

CLEARLY, the linear projection is misleading, even I know that and do wonder why cryptx includes that sort of low quality projection in the prospectus. Perhaps because it's near impossible to truely guess (a form laziness to be more rigorous?), or perhaps as you say, to make things look better than they actually are.

[mikemikemike]

Infact, fuck it. All I'm asking is for them to release realistic projections. Once they do that ill stop. All this involves is changing the difficulty from linear to exponential, which it is. Investors can then make up their own mind. Is that really so much to ask for?

I know it sounds crazy, but that changes everything. Then you should realise that this update is only beneficial to them if you realise how they are making money, and you'll then realise investors will never see a return, and thus, everyone will be left bag holding in a few months when shit hits the fan.

And if anyone tries to argue that difficulty rises are linear I will digitally slap you across this forum.

Please understand, I'm just trying to help the community. They are purposefully misleading you guys and very few people can see it.

I didn't study maths beyond high school, so basically you're saying I'm not in a good position if I'm currently invested in peta?

please elaborate as it would help me, a member of the community. When I think about it, I'm basically one of those guys who bought into neobee and didn't sell anything when it peaked at 0.006... only to sell 6.6BTC worth of shares for 0.15 a little while later. I also bought some peta shares at 0.125, although average is well below.

Basically, despite how I like to imagine, I'm a complete noob investor.


Also, I'm wondering how the IPO will actually sell from tmrw if we are currently trading below and the shares are not getting eaten up? I mean, just because the share price jumped massively last time cryptx made an announcement with regards to a hashrate increase, did the team believe that this time would be the same?

Linear increments are when something goes up by a fixed value. For example, the projections say the hashrate will increase at about +6PH every ten days for the next year.

While what actually happens is the hashrate increases exponentially, this is when it goes up by a fixed percentage every ten days. See below

https://bitcoinwisdom.com/bitcoin/difficulty

The difference is huge. If I add 15+ 15 twenty times over I get 300, this is linear
If I add 15 by a percentage of 15 ten time over I get 1636, this is exponential.

This is the point I'm trying to make. They know this. But they are misleading people so they can maximise their own profits. The first few months will be the most profitable, but instead of pumping out dividends then are going to use it to reinvest so they can have more machines, which makes them more money. But because of the exponential difficulty increase, it will cause dividends to plummet. When this happens it he share price will plummet too.

Your basicly giving them money.

Ill post detailed projections later with a fixed reinvestment percentage of 12%, which is extremely conservative if you look at the link above. And you'll realise you'll be lucky to get 20% of your investment back over the next four months, while all this time the share price is going to fall.

My biggest issue is they know this. They know this shit like the back of their hand, but they are trying to fool people who don't know any better. All so they can make money for themselves through the hosting fees.

thanks for the reply. I get the difference between linear and exponential. It's the issues you have with the percentage change in re-invesment that I didn't understand, among other things. It did sound like there was a more complicated conspiracy you had uncovered.

You have explained now so it makes sense. I guess this marks the beginning of another debate about whether difficulty can rise exponentially forever or not.

CLEARLY, the linear projection is misleading, even I know that and do wonder why cryptx includes that sort of low quality projection in the prospectus. Perhaps because it's near impossible to truely guess (a form laziness to be more rigorous?), or perhaps as you say, to make things look better than they actually are.

Forever? No. Of course not. There is a cut off point. But for the next year? Definitely.

A small example as I've been running AM's numbers, they are now one of the smaller manufacturers, they plan to release 10.9M chips onto the network in the next two months, with a total hashing power of 109PH, that's already over double the current network. That's just one manufacturer. Bitfury, Spoons, BFL, hashfast and another couple I can't remember right now off the top of my head are also working on their GEN 3 and GEN 4 chips which should be available within the coming weeks, maybe a month or two. If the hashrate isn't 6x what it is now in three months ill donate 5 BTC to Sean's Outpost. The growth that is coming over the next few months is going to out do any growth we have seen before

And yes, it's to make them look better than they are. These are the months when dividends will start being paid out, and these are the months where the hashrate is greatly underestimated. It's going to cut ROI down by 75% minimum, but they don't want to tell you that, because then who would invest? And if nobody invests, they can't afford to fill their data centre, and if they can't fill their data centre, they can't make money.

It's the same with the reinvestment percentage early on, you'd get a much better ROI as investors if you stuck it at 50/50, but the more machines they can bring online the more money they can funnel into their other company, so they are setting the reinvestment percentage high early on, which helps them achieve their goals but kills ROI in the long term.

And the IPO probably won't sell, even if it does the shareprice is going to come falling down when people realise they were much better off before this update.

[Elvis Trout]

The only thing that will save this project is the supposed July boom. Quite a few people think it might happen in which case we'll be ok.

[mikemikemike]

The only thing that will save this project is the supposed July boom. Quite a few people think it might happen in which case we'll be ok.

Can't knock you there. July boom should happen. The capital to reinvest will be allot lower by then though. And if the July boom does happen, expect hashrate increases in the 30%-40% ranges every 12 days as it has with the last bubble.

http://imgur.com/a/yy63S
https://bitcoinwisdom.com/bitcoin/difficulty

You would be allot better off though putting the money in an alt currency like litecoin or doge for this period, as their growth seems to go up exponentially when the bitcoin market is moving well.

Just my two cents. I'm about twenty dollars in for the day.

[coinhuddle]

mikemikemike,

Couldn't one argue that this business is about the deals done behind the scenes? Success is dependent around bulk orders and creating relationships between your mining business and suppliers. This large upcoming purchase reflects that, and is evidence of PETA continuing down that positive direction. 1000 btc is roughly $450,000 and that is buying 1000 TH (1 million GH). 1 million GH for $450,000 is $2.22 per GH.

My primary concern is the lack of transparency around how reinvestment btc is being saved and spent. That needs to be stepped up (maybe it is transparent and I've just missed it).

How much of the reinvestment fund so far is contributing to this large expansion?

One of the easiest tasks imaginable is creating a Google Doc spreadsheet showing weekly revenue, expenses, reinvestment, and dividends. This was started in the "Update" tab at Havelock for part of April. But hasn't been shown the past few weeks.

Why was this discontinued?

[trek27]

Lastly, do you think you could tell us what that 1000BTC will be spent on cryptx? Shares or what? After all you can't be planning to buy back shares you've just aquired off market at a lower price... or can you?

You can see in this table we will be prefinancing up to 1000 BTC.

Sooo, your not actually buying or owning any shares? Why didn't you just say that before?

Makes sense when you know what's going to happen to the shareprice.

Fix the projections. Stop BSing people. It's not fair, you really have no problems knowing all these people are going to lose their investment money do you?

Seriously. You could make enough money if you did it fair. But I guess you just want to retire early. Whichever, whatever.

Anyone who doesn't listen to me now is going to regret it ten time over in three months max when the amount of BTC mined is so low that the only people making money is the data centre, a data centre these guys own, and have free electricity for.

Seriously, people. THINK. Do your own research and make your own projections. Don't just blindly think all because the hashrate is tripling this is going to benefit you, it isn't.

If they (CryptX) wont buy shares from ipo for the 1000btc then this ipo could fail.
Recent statements by CryptX are really starting to qualify as misleading.

[michaelGedi]

Lastly, do you think you could tell us what that 1000BTC will be spent on cryptx? Shares or what? After all you can't be planning to buy back shares you've just aquired off market at a lower price... or can you?

You can see in this table we will be prefinancing up to 1000 BTC.

so is it investing or lending the 1000BTC?

I mean, you're proposing you lend the project upto 1007BTC, if 10,000 units are sold (or less?)

which you then pay back to yourselves through the dividends is that correct? otherwise, what percentage are you paid back of the prefinance from dividends?

more detailed financials would be ideal, despite the fact I wouldn't know what to do with them. But I'm sure they would be appreciated by all

[Morguk]

...

We launch a call to send us all your ideas on this to info@cryptx.com

...

I'll just put mine here...

1 Social Media targeted ads (Facebook, YouTube, Reddit)
2 Create a Web Video ad for us to spread around, as well as for you to use on YouTube ads
3 Conduct some publicized speaking engagements at a bitcoin conference, etc, or host your own and invite all the big names.
4 Let's come up with a Twitter Hashtag - but don't bother putting money toward twitter ads. It's a poor ad platform. Nontheless, we should have a hashtag we all use to promote and there should be an official PETA/CryptX twitter account tweeting out and getting followers

+1

[pleiotropik]

FUD is FUD but the issues are not being answered so FUD becomes a downtrend in price. Would love to remain a buy and hold type kind of individual in this project but i have to take some btc off the table for peace of mind. i'll come back --even if it means losing a margin- if mikemike's question's are answered. The other valid point is thatif you are managing over $1,000,000usd in OPM, updating a spreadsheet is mandatory.

[MrSike]

Lastly, do you think you could tell us what that 1000BTC will be spent on cryptx? Shares or what? After all you can't be planning to buy back shares you've just aquired off market at a lower price... or can you?

You can see in this table we will be prefinancing up to 1000 BTC.

What this table tells me is you are at least 1957 BTC in the hole(not counting these next 2 weeks of you using dividends and reinvestment funds already used) after making this deal and you are putting it on the shareholders to pay back the company that CryptX got all the extra hashing power from. You are withholding our dividends until all of this 1957 BTC is paid back to the company. First off that is what the reinvestment is for, not dividends. "The 65/35 percentages are chosen after careful consideration of the current and the future market. The percentages can change if shareholders vote to change it." What is happening is 100% is going to paying debt until that debt is paid off, could also be classified as reinvestment if you want to ease your mind. This was never voted upon and shareholders should still receive the dividend payment throughout IPO and after that fails shareholders should still get dividends paid, the 35% reinvestment should be the only thing going to pay off the hardware.

 "All shares issued have voting power. CryptX will not change the direction or goal of the PETA-MINE without shareholder votes". This little detour to give up our dividends is a huge direction change that was never voted on, I sold out everything on this pump and will not be buying back in if CryptX thinks this is right to do to shareholders, who knows what else he'll change and what terms he'll completely ignore from the prospectus.

Best case scenario all shares are sold in IPO and shareholders only give up ~.003 per share in dividends. Worst case scenario no body buys these shares at IPO and it takes an additional 5 weeks(projection done with difficulty never changing) to pay back the company and that will be a total of 7 weeks no dividends. Most likely scenario 1 batch is sold and 1007 BTC will still be needed to pay the company back and your dividends will be withheld for an additional 2-3 weeks after IPO is over for a total of 4-5 weeks with no dividend payments.

Edit: The last paragraph predictions are based off of a non changing difficulty so even the worst case scenario is overly optimistic.

[Anonymousg64]

what some of you do not realize is that difficulty cannot continue its exponential trend, at every doubling  more hashrate has to be manufactured then there ever was before it, we will hit a limit
second thing is $/Gh is also on an exponential trend, so technically its ok to make linear projections, exponential projections are usually highly inaccurate.

i expect full well PETA will make the right decisions in the future when dealing with above average increases in difficulty, they can increase reinvestment's


also dont forget how much PETA is doing for you, dealing with mining hardware, timing buys right and findings the best deals is not easy on your own.
I have 10scryptMh/s of GPU