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

[Puppet]

- 162.69622134 as payment for hardware (801.3037787 BTC remaining)

So even if difficulty would remain the same, thats 5 weeks of no reinvestments. Of course difficulty did just change and is bound to change at least 3 more times before the loan is paid off, so you are probably looking at closer to 2 months of no reinvestment.  Current hashrate of petamine is 1.3PH in a network of ~90PH, or 1.4%. By the time the loan is paid off, it will be well below 1%

As for the "impressive" and "hefty" dividend, maybe Im missing something, but 0.00209952/0.0975 = 2.1% of the IPO price. The network is growing by >7% per week. Any math geniuses want to guess how long it will take to earn back the principle through divs? Thats right, forever and then some.

[1715517294]

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[hephaist0s]

- 162.69622134 as payment for hardware (801.3037787 BTC remaining)

So even if difficulty would remain the same, thats 5 weeks of no reinvestments. Of course difficulty did just change and is bound to change at least 3 more times before the loan is paid off, so you are probably looking at closer to 2 months of no reinvestment.  Current hashrate of petamine is 1.3PH in a network of ~90PH, or 1.4%. By the time the loan is paid off, it will be well below 1%

As for the "impressive" and "hefty" dividend, maybe Im missing something, but 0.00209952/0.0975 = 2.1% of the IPO price. The network is growing by >7% per week. Any math geniuses want to guess how long it will take to earn back the principle through divs? Thats right, forever and then some.

You're nuts. 2.1% per week is stunning. That's 100% per year. Will we be able to keep that up, eh, who knows -- but the data point we have right now, this week's dividend, 2.1% this week... there is no rational way to call that bad. Yes, you do seem to be missing something.

Edit: Also, largest dividend ever! But yeah, totally a bad sign. ?!?!

[cryptoconomist]

div should be 10% or less until we reimburse the hardware...

3 difficulty jump at 15% each time will kill us for sure

[Swordsoffreedom]

It looks like Petamine is giving out a good dividend and has decided to go with a 50 50 split
Well best fortunes and to the hashrate

[nwfella]

Halfway decent dividend.  Keep up the great work fellas.

Noticed the 50/50 split took the prize...will be interesting to see what kind of rocking deals cryptx can arrange for us with that kinda juice

[ujka]

Nice and well, CryptX, but what's with the reinvestment funds from last two weeks when there were no dividends? Isn't that directed to repay the loan?

Yes, please clarify!

Edit: So the grand total for the new hardware was ~2530 BTC (491 mined during IPO + 1075 from IPO + 964 loan... and maybe more reinvestment funds?), for 1000 TH/s. Is this correct?

Also, we won't see upgrades in the next two months, since repaying the loan takes another 5-6 weeks alone?

Can't be. They wrote the prospectus with details of how much dividends have to be invested after IPO depending on the number of units sold. How could they include btc minted during IPO, before the IPO?  

Edit: took the time to read all CryptX posts on last IPO, and now understand - they estimated mining profit for time of IPO and included that in calculations.

[_biO_]

Nice and well, CryptX, but what's with the reinvestment funds from last two weeks when there were no dividends? Isn't that directed to repay the loan?

Yes, please clarify!

Edit: So the grand total for the new hardware was ~2530 BTC (491 mined during IPO + 1075 from IPO + 964 loan... and maybe more reinvestment funds?), for 1000 TH/s. Is this correct?

Also, we won't see upgrades in the next two months, since repaying the loan takes another 5-6 weeks alone?

Can't be. They wrote the prospectus with details of how much dividends have to be invested after IPO depending on the number of units sold. How could they include btc minted during IPO, before the IPO? 

"PetaMine has already a capacity of 500 TH/s of hash power. This hash power will be added to the new hardware purchased with funds raised in this IPO. Furthermore, all dividends from the existing PetaMine between 9 May, 2014 and the end of the IPO on 31 May, 2014 will also be invested in the new hardware."

[Puppet]

You're nuts. 2.1% per week is stunning. That's 100% per year.

Yeah, except, its not. Your mining revenue and the value of the hashing power which is your fundamental share value is dropping by 7% per week. Cant believe how people still fall for this after all these years.

[_biO_]

You're nuts. 2.1% per week is stunning. That's 100% per year.

Yeah, except, its not. Your mining revenue and the value of the hashing power which is your fundamental share value is dropping by 7% per week. Cant believe how people still fall for this after all these years.

Except the share value is not dropping 7% per week.

[ujka]

You're nuts. 2.1% per week is stunning. That's 100% per year.

Yeah, except, its not. Your mining revenue and the value of the hashing power which is your fundamental share value is dropping by 7% per week. Cant believe how people still fall for this after all these years.

Except the share value is not dropping 7% per week.

0.0975 last week, 0.0725 now. That's >20%!  

[kenmomotaro]

You're nuts. 2.1% per week is stunning. That's 100% per year.

Yeah, except, its not. Your mining revenue and the value of the hashing power which is your fundamental share value is dropping by 7% per week. Cant believe how people still fall for this after all these years.

Except the share value is not dropping 7% per week.

If share price drops 7% a week, we'll see 0.05 each share after a month.
And let's say a month later Petamine only hold 1% of the network, then 1 share of Petamine is equal to 0.0000129% of bitcoin network.
That means the whole btc network only value BTC387475.
Just tell me how do you feel about this number.   For me, it's way too cheap.

[_biO_]

You're nuts. 2.1% per week is stunning. That's 100% per year.

Yeah, except, its not. Your mining revenue and the value of the hashing power which is your fundamental share value is dropping by 7% per week. Cant believe how people still fall for this after all these years.

Except the share value is not dropping 7% per week.

0.0975 last week, 0.0725 now. That's >20%!  

And it was 0.05 seven months ago.

[Puppet]

Except the share value is not dropping 7% per week.

Oh its not gonna drop exactly 7% every week especially not as long as investors cant do basic math, but on average the market value of the hashrate that your share represents, will.  Now you can allocate mining revenue to increase your hashrate ('reinvestment') or pay it as dividends or do both in any ratio you want, but if you dont earn more in net mining revenue than the rate at which difficulty goes up, it doesnt take a rocket scientist to figure out what will happen.

Besides, as it happens, last IPO was on May 23  @ 0.0975 Now 2 weeks later thats worth 0.072. -12.5% per week

But hey, enjoy the 2% weekly dividend for as long as it lasts.

[Anotheranonlol]

Except the share value is not dropping 7% per week.

Oh its not gonna drop exactly 7% every week especially not as long as investors cant do basic math, but on average the market value of the hashrate that your share represents, will.  Now you can allocate mining revenue to increase your hashrate ('reinvestment') or pay it as dividends or do both in any ratio you want, but if you dont earn more in net mining revenue than the rate at which difficulty goes up, it doesnt take a rocket scientist to figure out what will happen.

Besides, as it happens, IPO was on May 23  @ 0.0975 Now 2 weeks later 0.072. -12.5% per week

But hey, enjoy the 2% weekly dividend for as long as it lasts.

so, AM is down more than 2000%.. What's the yield on that these days?, less than I can get at my local bank branch last i checked

Difficulty could increase 500%, we are still churning out BTC with some of the most efficient hardware on market
of course should that be the case we'd churning it roughly 5x slower (if theres no investments, no adjustments to dividend ration etc, but BTC is being mined nonetheless)

You don't account for replacing hardware entirely, nor previously accumulated dividends, nor liquidating hardware, nor selling shares. Also, You still didn't put your money where your mouth is either, the one that went like this: I'll give you 10btc if I'm a bagholder in 6 months, otherwise you pay me

[Puppet]

Just tell me how do you feel about this number.   For me, it's way too cheap.

$2600 per TH in 2 months is way too cheap for you?

[Puppet]

so, AM is down more than 2000%..

AM paid out its investors considerably over IPO price in dividends alone and its shares still trade at 3x its IPO price. Never ever gonna happen with cryptx or any mining security.

Difficulty could increase 500%, we are still churning out BTC with some of the most efficient hardware on market

Purchased at a cost that is a multiple of what it costs competitors who produce their own asics. And with electricity costs that are up to an order of magnitude higher.

of course should that be the case we'd churning it roughly 5x slower (if theres no investments, no adjustments to dividend ration etc, but BTC is being mined nonetheless)

You just dont get it do you. Of course you'll still mine BTC's, but never enough to pay the investment. Maybe you'll begin to understand once you've had your Monarch for a few months.

You don't account for replacing hardware entirely, nor previously accumulated dividends, nor liquidating hardware, nor selling shares.

Because none of that changes anything fundamentally.

Also, You still didn't put your money where your mouth is either, the one that went like this: I'll give you 10btc if I'm a bagholder in 6 months, otherwise you pay me

Thats rich. No one so far has taken up on my offer. Do you want to?

[tsm13]

Except the share value is not dropping 7% per week.

Oh its not gonna drop exactly 7% every week especially not as long as investors cant do basic math, but on average the market value of the hashrate that your share represents, will.  Now you can allocate mining revenue to increase your hashrate ('reinvestment') or pay it as dividends or do both in any ratio you want, but if you dont earn more in net mining revenue than the rate at which difficulty goes up, it doesnt take a rocket scientist to figure out what will happen.

Besides, as it happens, last IPO was on May 23  @ 0.0975 Now 2 weeks later thats worth 0.072. -12.5% per week

But hey, enjoy the 2% weekly dividend for as long as it lasts.

This is what Puppet is referring to:

Div Pay Day   Div %   Re-invest   Repay
6-Jun   2.10%                No   Yes
13-Jun   1.95%                No   Yes
20-Jun   1.82%                No   Yes
27-Jun   1.69%                No   Yes
6-Jun   1.57%                No   Yes
4-Jul          1.46%                No   Yes
11-Jul   1.36% + ?                Yes   No
18-Jul   1.26% + ?           Yes   No
25-Jul   1.18% + ?             Yes   No

For the next 6ish weeks we will repay the loan, then after that reinvest will start again

You can see the Div% diminishes each week, in the calc I used the 7% reduction/week. it wont be like this but over time will average out this way

From the 11th I estimate our reinvestment will kick back in, so we should see an increase in hashrate/divs around then

The thing that I can't calculate into this, is the fact CryptX is selling off old hardware, not sure where this extra btc is going. Two speculations:

1, Will go to pay down loan as comes in
2, Will go to reinvestment, if this one the % decrease in div week to week should be les than 7% but without knowing numbers can't guess.

Last thing that can effect the divs is if the btc price rises it should do two things:

1, Reduce cost of hardware
2. Reduce cost of hosting, since this is in fiat

if goes down, the opposite

Disclaimer: Loads of guessing, some speculation, some rounding of numbers

edit: btc price rises

[Anotheranonlol]

Thats rich. No one so far has taken up on my offer. Do you want to?

So let's skip all the nonsense, since my money is already where my mouth is investing in this project, whereas you're all talk right now:

in exactly 6 months if i am not able to receive more than 100% of the amount I put in, this has been a bad investment and you not only get to say 'told you so' but walk away with 10btc to add insult to injury, if I do indeed have more than 100%, either via dividends alone or dividends plus sales of shares, it's been a good investment and I could of done without the headache of listening to your tedious comparisons to BFL monarchs. Sounds fine to me

let me know the neutral escrow

[BiteMyShinyMetalAss]

Except the share value is not dropping 7% per week.

Oh its not gonna drop exactly 7% every week especially not as long as investors cant do basic math, but on average the market value of the hashrate that your share represents, will.  Now you can allocate mining revenue to increase your hashrate ('reinvestment') or pay it as dividends or do both in any ratio you want, but if you dont earn more in net mining revenue than the rate at which difficulty goes up, it doesnt take a rocket scientist to figure out what will happen.

Besides, as it happens, last IPO was on May 23  @ 0.0975 Now 2 weeks later thats worth 0.072. -12.5% per week

But hey, enjoy the 2% weekly dividend for as long as it lasts.

This is what Puppet is referring to:

Div Pay Day   Div %   Re-invest   Repay
6-Jun   2.10%                No   Yes
13-Jun   1.95%                No   Yes
20-Jun   1.82%                No   Yes
27-Jun   1.69%                No   Yes
6-Jun   1.57%                No   Yes
4-Jul          1.46%                No   Yes
11-Jul   1.36% + ?                Yes   No
18-Jul   1.26% + ?           Yes   No
25-Jul   1.18% + ?             Yes   No

For the next 6ish weeks we will repay the loan, then after that reinvest will start again

You can see the Div% diminishes each week, in the calc I used the 7% reduction/week. it wont be like this but over time will average out this way

From the 11th I estimate our reinvestment will kick back in, so we should see an increase in hashrate/divs around then

The thing that I can't calculate into this, is the fact CryptX is selling off old hardware, not sure where this extra btc is going. Two speculations:

1, Will go to pay down loan as comes in
2, Will go to reinvestment, if this one the % decrease in div week to week should be les than 7% but without knowing numbers can't guess.

Last thing that can effect the divs is if the btc price rises it should do two things:

1, Reduce cost of hardware
2. Reduce cost of hosting, since this is in fiat

if goes down, the opposite

Disclaimer: Loads of guessing, some speculation, some rounding of numbers

edit: btc price rises

Nice! Well done!   

[Puppet]

Thats rich. No one so far has taken up on my offer. Do you want to?

So let's skip all the nonsense, since my money is already where my mouth is investing in this project, whereas you're all talk right now:

in exactly 6 months if i am not able to receive more than 100% of the amount I put in, this has been a bad investment and you not only get to say 'told you so' but walk away with 10btc to add insult to injury, if I do indeed have more than 100%, either via dividends alone or dividends plus sales of shares, it's been a good investment and I could of done without the headache of listening to your tedious comparisons to BFL monarchs. Sounds fine to me

let me know the neutral escrow

Ive already laid out my terms and my motivation for them. Im not going to bet 10BTC against my own expectation that cryptx will be taken off the market at some point and/or will be forced to reimburse investors (in fiat) for a sum that exceeds IPO value (fiat denominated).