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

[EdoBcn]

spend only 1% of your solar powerplant capacity

"We have a 350,000 Watt solar facility at site, which is owned by another company of us. To give you all an idea what this means:
In Belgium a 350kW installation has a yearly revenue of about 300,000 Kwh. The PetaMine consumes about 500 kw or 1285 kw after IPO (500*1 + 1000*0.785), this means between 4,380,000kwh and 11,256,600kwh each year. This is without any growth!
So our own electricity is only between 6.8% and ?? 1,1% of all electricity needed. What do you think such an installation costs?"

I think you don't understand...the electricity produced from the 350k solar plant is only about 1-6% of all electricity used by the PetaMine.

my bad. I got it wrong.
This is actually a good thing. Glad I mistaken myself.

[1715161430]

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[cryptx]

So, you raised ~2.5 million from shareholders, added 1 million from your side, spend only 1% of your solar powerplant capacity, and then you want the shareholders to halt getting dividends? I don't think you need us for this operation. You could mine by your own... right? What am I missing here? The fees you collected until now are nothing compared to the magnitud of money you usually manage... is this a small distraction toy for you? Because for many of the shareholders it meant the difference between day and night. Not arguing here, just trying to understand why you need to get external funds for such an attractive and speculative business plan. Or why you need ADDITIONAL funds to increase operations.

Pffff I'm getting tired of defending even things like this. If we did not invest in this project, it would never be where it is today.

We have put a lot of effort, time and money in this, believe me. You can see where we are today, 46% in dividends paid + share price a lot above IPO.

Now we try to take all this to the next level, I mean this is the real deal. If you want to be part of something big, this is it.

If you just don’t like the way this came all together or where we want to aim for in the future, just don’t invest.

[michaelGedi]

So, you raised ~2.5 million from shareholders, added 1 million from your side, spend only 1% of your solar powerplant capacity, and then you want the shareholders to halt getting dividends? I don't think you need us for this operation. You could mine by your own... right? What am I missing here? The fees you collected until now are nothing compared to the magnitud of money you usually manage... is this a small distraction toy for you? Because for many of the shareholders it meant the difference between day and night. Not arguing here, just trying to understand why you need to get external funds for such an attractive and speculative business plan. Or why you need ADDITIONAL funds to increase operations.

Pffff I'm getting tired of defending even things like this. If we did not invest in this project, it would never be where it is today.

We have put a lot of effort, time and money in this, believe me. You can see where we are today, 46% in dividends paid + share price a lot above IPO.

Now we try to take all this to the next level, I mean this is the real deal. If you want to be part of something big, this is it.

If you just don’t like the way this came all together or where we want to aim for in the future, just don’t invest.

don't get tired, don't lose professional outlook. Take the criticism and deal with it. Some of it is valid, some of it is not at all... it's quite simple in some ways. Just don't lose sight of the valid issues that get raised, despite the tone of the posts

[karol]

So, you raised ~2.5 million from shareholders, added 1 million from your side, spend only 1% of your solar powerplant capacity, and then you want the shareholders to halt getting dividends? I don't think you need us for this operation. You could mine by your own... right? What am I missing here? The fees you collected until now are nothing compared to the magnitud of money you usually manage... is this a small distraction toy for you? Because for many of the shareholders it meant the difference between day and night. Not arguing here, just trying to understand why you need to get external funds for such an attractive and speculative business plan. Or why you need ADDITIONAL funds to increase operations.

Pffff I'm getting tired of defending even things like this. If we did not invest in this project, it would never be where it is today.

We have put a lot of effort, time and money in this, believe me. You can see where we are today, 46% in dividends paid + share price a lot above IPO.

Now we try to take all this to the next level, I mean this is the real deal. If you want to be part of something big, this is it.

If you just don’t like the way this came all together or where we want to aim for in the future, just don’t invest.

How are You counting this 46%?

Last Ipo was for 0.05, according to havelock and what I get after this IPO i recived 0,00883 divident per share so it is 17,6 %.

[kenmomotaro]

spend only 1% of your solar powerplant capacity

"We have a 350,000 Watt solar facility at site, which is owned by another company of us. To give you all an idea what this means:
In Belgium a 350kW installation has a yearly revenue of about 300,000 Kwh. The PetaMine consumes about 500 kw or 1285 kw after IPO (500*1 + 1000*0.785), this means between 4,380,000kwh and 11,256,600kwh each year. This is without any growth!
So our own electricity is only between 6.8% and ?? 1,1% of all electricity needed. What do you think such an installation costs?"

I think you don't understand...the electricity produced from the 350k solar plant is only about 1-6% of all electricity used by the PetaMine.

my bad. I got it wrong.
This is actually a good thing. Glad I mistaken myself.

So far people have most problem with "no dividends" in the next few weeks.
And that's the key to this ipo being success or not.
My opinion is that we keep 0.0015 dividends until debt is cleared.
Is that OK, Cryptx?

[cryptx]

So, you raised ~2.5 million from shareholders, added 1 million from your side, spend only 1% of your solar powerplant capacity, and then you want the shareholders to halt getting dividends? I don't think you need us for this operation. You could mine by your own... right? What am I missing here? The fees you collected until now are nothing compared to the magnitud of money you usually manage... is this a small distraction toy for you? Because for many of the shareholders it meant the difference between day and night. Not arguing here, just trying to understand why you need to get external funds for such an attractive and speculative business plan. Or why you need ADDITIONAL funds to increase operations.

Pffff I'm getting tired of defending even things like this. If we did not invest in this project, it would never be where it is today.

We have put a lot of effort, time and money in this, believe me. You can see where we are today, 46% in dividends paid + share price a lot above IPO.

Now we try to take all this to the next level, I mean this is the real deal. If you want to be part of something big, this is it.

If you just don’t like the way this came all together or where we want to aim for in the future, just don’t invest.

How are You counting this 46%?

Last Ipo was for 0.05, according to havelock and what I get after this IPO i recived 0,00883 divident per share so it is 17,6 %.

PetaMine started back in August 2013 and we have been mining and paying dividends back in October 2013.

[karol]

spend only 1% of your solar powerplant capacity

"We have a 350,000 Watt solar facility at site, which is owned by another company of us. To give you all an idea what this means:
In Belgium a 350kW installation has a yearly revenue of about 300,000 Kwh. The PetaMine consumes about 500 kw or 1285 kw after IPO (500*1 + 1000*0.785), this means between 4,380,000kwh and 11,256,600kwh each year. This is without any growth!
So our own electricity is only between 6.8% and ?? 1,1% of all electricity needed. What do you think such an installation costs?"

I think you don't understand...the electricity produced from the 350k solar plant is only about 1-6% of all electricity used by the PetaMine.

my bad. I got it wrong.
This is actually a good thing. Glad I mistaken myself.

So far people have most problem with "no dividends" in the next few weeks.
And that's the key to this ipo being success or not.
My opinion is that we keep 0.015 dividends until debt is cleared.
Is that OK, Cryptx?

+1

[michaelGedi]

spend only 1% of your solar powerplant capacity

"We have a 350,000 Watt solar facility at site, which is owned by another company of us. To give you all an idea what this means:
In Belgium a 350kW installation has a yearly revenue of about 300,000 Kwh. The PetaMine consumes about 500 kw or 1285 kw after IPO (500*1 + 1000*0.785), this means between 4,380,000kwh and 11,256,600kwh each year. This is without any growth!
So our own electricity is only between 6.8% and ?? 1,1% of all electricity needed. What do you think such an installation costs?"

I think you don't understand...the electricity produced from the 350k solar plant is only about 1-6% of all electricity used by the PetaMine.

my bad. I got it wrong.
This is actually a good thing. Glad I mistaken myself.

So far people have most problem with "no dividends" in the next few weeks.
And that's the key to this ipo being success or not.
My opinion is that we keep 0.015 dividends until debt is cleared.
Is that OK, Cryptx?

+1

ok so this is a good example. A possible solution that will restore confidence... people like money coming in every week, especially ADD bitcoin guys

[karol]

So, you raised ~2.5 million from shareholders, added 1 million from your side, spend only 1% of your solar powerplant capacity, and then you want the shareholders to halt getting dividends? I don't think you need us for this operation. You could mine by your own... right? What am I missing here? The fees you collected until now are nothing compared to the magnitud of money you usually manage... is this a small distraction toy for you? Because for many of the shareholders it meant the difference between day and night. Not arguing here, just trying to understand why you need to get external funds for such an attractive and speculative business plan. Or why you need ADDITIONAL funds to increase operations.

Pffff I'm getting tired of defending even things like this. If we did not invest in this project, it would never be where it is today.

We have put a lot of effort, time and money in this, believe me. You can see where we are today, 46% in dividends paid + share price a lot above IPO.

Now we try to take all this to the next level, I mean this is the real deal. If you want to be part of something big, this is it.

If you just don’t like the way this came all together or where we want to aim for in the future, just don’t invest.

How are You counting this 46%?

Last Ipo was for 0.05, according to havelock and what I get after this IPO i recived 0,00883 divident per share so it is 17,6 %.

PetaMine started back in August 2013 and we have been mining and paying dividends back in October 2013.

Great that You are operating so long but it is very strange counting, I paid 0.05 so get 17.6 % -
You should listed all IPO with dividents not just saying that You paid 46% which is not true, You are teling about missunderstanding, wonder why?
Please give real informations with clear statments not what is good for You.

[EdoBcn]

Pffff I'm getting tired of defending even things like this. If we did not invest in this project, it would never be where it is today.

I agree. Pffff, I invested in this project as well and I contributed as well (marginally, I know, but sum all of us and you get the right number).

I got burned in the past by havelock on a different fund. I told myself, never more.
Then I got your IPO. The project seemed good. You had the experience. You had special deals with pre-orders. You had capacity to build boards.
It seemed pretty the right thing to invest in.

According to the first spreadshit, for how amazing and untrue (and shoking) it looked like, I thought it was still very much appealing. Investing in mining with BTC and get weekly dividends with BTC.
I started very low with only some spare funds I didn't had in cold storage. The first weeks... no hashing, delays, no div... and then it started. I took 25% out of cold storage and came in "big" (my big...). PETA started hashing even higher. Machines were placed online. I belived in this project so much that not only I was buying stock at each div payout, but also I took another 25% out of cold storage.

Bitcoin passionate friends were my first discussion opponents and some of them decided to invest as well.
I took 40% of my cold storage and invested that as well.

All was good. Buying shares weekly. Sometimes playing a little with the price fluctuation on havelock to sell high and buy cheap, increasing my share numbers.

Then Scryptx came out. While PETA was stuck for quite a silent time.
(It's amazing how you, Cryptx, were so silent here and how much you are writing now that you have the need of an additional IPO)

Scryptx potentiality is high. I decide to help the IPO by selling some shares of PETA and enter this other, at least initially.
The fee price on PETA is reduced now, Price goes up. Nice moment to sell PETA and buy more Scryptx IPO.

And then you announce the new IPO on PETA with a price well above market value.
And then you announce that you privately purchased shares from a whale who wanted out.
And then you suspend the dividends on PETA.

I sold the last PETA after this. Still have liquidity on Havelock.
Scryptx is exchanging below IPO.
PETA future has its detractors and numbers are spamming this forum.

I don't think I insulted you and if I did, I can apologize now, maybe.
But "Pfffff"... really? You want to manage my investment like this?
I do have a suggestion for you, hire a PR. A good one. Someone who doesn't reply "Pffff" to investors. Someone who has the time to reply to us. Someone who can eventually tell you that buying out a whale is not something that the other shareholders will take with pleasure.

If PETA will be successfull, I will be sad that I was not keeping my shares, and at the same time happy for you and the other shareholders.
But the chance of getting me back in and convincing me (with an amazing operation) to disinvest other funds on Nasdaq to buy more PETA, is gone.

[michaelGedi]

So, you raised ~2.5 million from shareholders, added 1 million from your side, spend only 1% of your solar powerplant capacity, and then you want the shareholders to halt getting dividends? I don't think you need us for this operation. You could mine by your own... right? What am I missing here? The fees you collected until now are nothing compared to the magnitud of money you usually manage... is this a small distraction toy for you? Because for many of the shareholders it meant the difference between day and night. Not arguing here, just trying to understand why you need to get external funds for such an attractive and speculative business plan. Or why you need ADDITIONAL funds to increase operations.

Pffff I'm getting tired of defending even things like this. If we did not invest in this project, it would never be where it is today.

We have put a lot of effort, time and money in this, believe me. You can see where we are today, 46% in dividends paid + share price a lot above IPO.

Now we try to take all this to the next level, I mean this is the real deal. If you want to be part of something big, this is it.

If you just don’t like the way this came all together or where we want to aim for in the future, just don’t invest.

How are You counting this 46%?

Last Ipo was for 0.05, according to havelock and what I get after this IPO i recived 0,00883 divident per share so it is 17,6 %.

PetaMine started back in August 2013 and we have been mining and paying dividends back in October 2013.

Great that You are operating so long but it is very strange counting, I paid 0.05 so get 17.6 % -
You should listed all IPO with dividents not just saying that You paid 46% which is not true, You are teling about missunderstanding, wonder why?
Please give real informations with clear statments not what is good for You.

that is a clear statement. Since they began petamine, they paid 46%... (not that I have numbers to back this up).

just because you didn't know they started before you bought into the (2nd?) IPO, doesn't mean that it's not a clear statement. It's just not clear to you. It was clear to me...

that said, cryptx could have said, "we have paid 46% since we began our operations in Aug 2013"... yes, that would have been clearer.

[EdoBcn]

paying dividends back in October 2013


Not this IPO. Not Havelock.
My first div was on March 1st. 0,00040211 per share.

[NotLambchop]

@cryptx:  Why are you deleting my replies?

We would appreciate everybody to read through the info at hand first.
After this something is still not clear, you can always ask us about it.

We cannot tolerate accusations based on misinformation.

Lol, "misinformation"?  You mean like linear, 6PH/mo difficulty growth?  Care to explain how you've arrived at that number?

We made a spreadsheet, so you can use this spreadsheet to enter all variables to your liking.
Variables: network hash rate, BTC rate, price for reinvestments.

Doing so, you can make your own conclusions.

BTW: it is not 6 PH/month, but 6PH each 10 days

Lolno.
You provide a completed spreadsheet, calculated, with all the variables given by yourself.  Which begs the question, is Bx+6000 meant to read "lorem ipsum"?  If not, how did you arrive at that number?  And what lead you to believe that network speed was growing at a linear rate?


The hotlink in your prospectus is a bit misleading, if what you are offering just a template:

Since the formulae are not shown in googledocs' default view, how will the potential investor know that you've plugged in random numbers into random formulae?

[stompysteve]

alll aboard the FUD train!!!!

this forum gets pretty retarded sometimes

[BiteMyShinyMetalAss]

alll aboard the FUD train!!!!

this forum gets pretty retarded sometimes

It really really does...

[michaelGedi]

The money that is raised at the IPO will go to the purchase of 1000 TH/s of mining equipment, which costs about 3,760 BTC. Financial breakdown to deploy 1PH/s:

    Cost: 3,760 BTC
    Income:

                * 33,794 shares at IPO: 3,313 BTC
                * Current reinvestment funds: 150 BTC
                * Mining revenue (16-31 May): 300 BTC

cryptx, please could you clarify (NB - this is not an accusation):

Where are the funds from the cancelled bitmain contract? Do they have any relationship to the shares you have aquired? If no, why are they not included in this calculation?

[NotLambchop]

@stompysteve; BiteMyShinyMetalAss:  I'm sorry, i thought I was interrupting a rape.  But this is ...consensual?

[cryptx]

The money that is raised at the IPO will go to the purchase of 1000 TH/s of mining equipment, which costs about 3,760 BTC. Financial breakdown to deploy 1PH/s:

    Cost: 3,760 BTC
    Income:

                * 33,794 shares at IPO: 3,313 BTC
                * Current reinvestment funds: 150 BTC
                * Mining revenue (16-31 May): 300 BTC

cryptx, please could you clarify (NB - this is not an accusation):

Where are the funds from the cancelled bitmain contract? Do they have any relationship to the shares you have aquired? If no, why are they not included in this calculation?

New situation:

We have cut the hosting fee from 0.45$/kwh to 0.25$/kwh. In other words we gave up a large portion of our income to the PetaMine project.  We could have left it at 0.45$ and receive a lot more hosting for the coming months. Instead we want the project to thrive and become one of the larger players in the Bitcoin mining place.
We bought back about 14,500 shares with the money we otherwise had to spend on Bitmine for our second part of the contract. We did this because we are convinced that we could use these shares to take the PetaMine to another level.

[michaelGedi]

^ ah yes, thanks I thought I'd read something like that, sorry I missed when trawling posts...

[stompysteve]

The money that is raised at the IPO will go to the purchase of 1000 TH/s of mining equipment, which costs about 3,760 BTC. Financial breakdown to deploy 1PH/s:

    Cost: 3,760 BTC
    Income:

                * 33,794 shares at IPO: 3,313 BTC
                * Current reinvestment funds: 150 BTC
                * Mining revenue (16-31 May): 300 BTC

cryptx, please could you clarify (NB - this is not an accusation):

Where are the funds from the cancelled bitmain contract? Do they have any relationship to the shares you have aquired? If no, why are they not included in this calculation?

New situation:

We have cut the hosting fee from 0.45$/kwh to 0.25$/kwh. In other words we gave up a large portion of our income to the PetaMine project.  We could have left it at 0.45$ and receive a lot more hosting for the coming months. Instead we want the project to thrive and become one of the larger players in the Bitcoin mining place.
We bought back about 14,500 shares with the money we otherwise had to spend on Bitmine for our second part of the contract. We did this because we are convinced that we could use these shares to take the PetaMine to another level.

+1
I wasnt upset with what was going down before though, everyone else is just pissed because they sold to early to get some scryptx trying to be a speculator or day trader