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

[IamNotSure]

look at page 27 figure 24. Belgium industrial price 7-17 cents/kW (ex VAT, i suppose cryptx is a VAT payer
pdf here

with all the teraH/s cx had, they have been well qualified for e.g.the prices u state.

Nice find

CryptX is a SPRL, meaning they recover VAT (VAT shouldn't be taken into account) http://kbopub.economie.fgov.be/kbopub/toonondernemingps.html?ondernemingsnummer=536896285

[1715499434]

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[mruiter]

Is it just me or do you think electricity cost of 0.45$/kWh is quite big?
It says it here:
https://docs.google.com/spreadsheet/ccc?key=0AjI5bgsiFJAidFBsclpVM0FSdFZNalRGNnVlc0VxSGc&usp=drive_web#gid=1

I myself pay about 0.14-0.16$/kwh in Finland.

CryptX is based in Belgium where they are being r*ped by electricty companies. Price is 0,23 € on average -> 0,3 $ /kWh ... Not the best place to build a farm in the world.

Then yes, 0,45$ is anormally big

i tought they said the datacentre was mainly solar powered ?

[dhenson]

It's electricity and hosting.

[rdyoung]

I only have 7 shares in PETA as that's all I can afford, but all this talk is making it sound fishy. The high elec costs and the lack of comms with cointerra. What's going on? I thought I made a sound investment. I predicted 1 BTC return over 12 months with 7 shares.

Just for fun - since bitcoin is rallying again, let's see what happens in that spreadsheet if it's value is, say, 1500$.
Download the spreadsheet, input 1550 in BTC/USD cell, and look at the dividend/share cell: 0.402  
* your 7 shares =

try 5,000$..you can be multi-millionare even with 7 shares, 168% of all bitcoins ever created will be paid out through divs here

Not sure where your seeing the 168%, however theoretically we will still earn bitcoins from mining when all bitcoins have been created. This income will come from the fees. So in theory yes, you could earn as many btc as will ever be created.

I'm just saying to previous guy don't get confused and rely on spreadsheet div/share calculation to gauge your BTC profit on this operation. put in 5,000 USD/SPOT on this spreadsheet, and it indicates same 7 shares generating 1274 BTC.. 1.2million$ at today price or 6 million $ at 5k.. and for 100k shares- more than 17billion$, 85 billion $ if 5k reached.

also, you would never even theoretically control close to 100% of the total monetary supply of btc even for the simple reason that balances have already been rendered unspendable. let alone more than that (control=funds paired to privkey/public address and spendable, not balance passing in/out), . when block reward is low enough to warrant miners having incentivization to process block with fees as priority..which we don't need to factor into this operation. those tx fees are and will be paid out of existing supply- which has a hard cap, not added on top.

Point taken....
I was however reffering as you were to total btc ever minted, not total in circulation. Fees are in essence newly minted btc, they are destroyed when the transaction is sent and recreated when the block is confirmed.

[dhenson]

Pretty good news out of Cointerra: http://cointerra.com/engineering-update-asic-bringup-diagnostic-testing/

Our first round of tests were focused on characterizing one of the four dies on a single GoldStrike I ASIC. The engineers slowly increased the number of active hashing pipelines and monitored their performance. At the end of this round of tests we achieved our target of 132GH/s on a single die.

[rdyoung]

Pretty good news out of Cointerra: http://cointerra.com/engineering-update-asic-bringup-diagnostic-testing/

Our first round of tests were focused on characterizing one of the four dies on a single GoldStrike I ASIC. The engineers slowly increased the number of active hashing pipelines and monitored their performance. At the end of this round of tests we achieved our target of 132GH/s on a single die.

That is awesome. Currently fantasizing about what those chips could do immersed and OCed

[mruiter]

Pretty good news out of Cointerra: http://cointerra.com/engineering-update-asic-bringup-diagnostic-testing/

Our first round of tests were focused on characterizing one of the four dies on a single GoldStrike I ASIC. The engineers slowly increased the number of active hashing pipelines and monitored their performance. At the end of this round of tests we achieved our target of 132GH/s on a single die.

That is awesome. Currently fantasizing about what those chips could do immersed and OCed

No, thats good. Machines on there way to Peta would be awesome. But they took a couple of days to test the single die.
I'm hoping they got the hang of it or else it could take a nother week testing the whole chip and more weeks to test the casing, cooling etc.

It would be better if they did it quick and dirty like KNC.
Al in the case with the it works firmware. Assemble and ship

People can start hashing and will nag about some quircks but in the weeks to follow it will get super good.
Then you can already start hashing at 80% capacity.

My KNC now does 680Ghash and i was verry glad i could hash at 500Ghash for the first 4 weeks when firmwares came out every few days.

[frito]

look at page 27 figure 24. Belgium industrial price 7-17 cents/kW (ex VAT, i suppose cryptx is a VAT payer
pdf here

with all the teraH/s cx had, they have been well qualified for e.g.the prices u state.

Nice find

CryptX is a SPRL, meaning they recover VAT (VAT shouldn't be taken into account) http://kbopub.economie.fgov.be/kbopub/toonondernemingps.html?ondernemingsnummer=536896285

Nice find as well ^^

But is it the same firm, coz it lists different address there than on their web?

Please, CryptX, enlighten us on that.

[frito]

It's electricity and hosting.

Dont u think 30ish euro cents per Watt of eq. Is not an overkill for hosting?  Just saying...

[ujka]

It's electricity and hosting.

Dont u think 30ish euro cents per Watt of eq. Is not an overkill for hosting?  Just saying...

per kWatt.

How much did KnC charge for 6 months of hosting for their Jupiter miners? $2100? (https://bitcointalk.org/index.php?topic=170332.msg2707082#msg2707082)

Jupiter, is that 0.6 kW/H ?
  
0.6 * 24 * 30 * 6 = 2592 kW
$2100 / 2592 kW = 0.81 $/kW

Isn't that overkill ?

[EdoBcn]

Is there any update on delivery and start of mining?

[spartan82]

It's electricity and hosting.

Dont u think 30ish euro cents per Watt of eq. Is not an overkill for hosting?  Just saying...

per kWatt.

How much did KnC charge for 6 months of hosting for their Jupiter miners? $2100? (https://bitcointalk.org/index.php?topic=170332.msg2707082#msg2707082)

Jupiter, is that 0.6 kW/H ?
  
0.6 * 24 * 30 * 6 = 2592 kW
$2100 / 2592 kW = 0.81 $/kW

Isn't that overkill ?

Absolutely. I for one believe cryptx's electricity and hosting fees are quite reasonable. Our main focus would be when are we getting online. I think I speak for all here when I say we'd love to hear an update to hear everything's in place for our operation to start on "xxxx" date..

[dhenson]

@ $820/btc Petamine shares are ~ $17/GH!!
@ $820/btc CEX.io shares are ~ $36.408/GH
@ $820/btc Cloudhashing.com contracts are ~ $100/GH


Is this the cheapest non-hardware way to get involved in mining currently?  Why aren't we advertising that fact to get the IPO share wall down so we can find a proper value for this stock?

[Wayne_Chang]

@ $820/btc Petamine shares are ~ $17/GH!!
@ $820/btc CEX.io shares are ~ $36.408/GH
@ $820/btc Cloudhashing.com contracts are ~ $100/GH


Is this the cheapest non-hardware way to get involved in mining currently?  Why aren't we advertising that fact to get the IPO share wall down so we can find a proper value for this stock?

Problem is both CEX.io and Cloudhashing are hashing now. At the same time, we do not know when PETA Mine will start hashing till this moment.

[spartan82]

@ $820/btc Petamine shares are ~ $17/GH!!
@ $820/btc CEX.io shares are ~ $36.408/GH
@ $820/btc Cloudhashing.com contracts are ~ $100/GH


Is this the cheapest non-hardware way to get involved in mining currently?  Why aren't we advertising that fact to get the IPO share wall down so we can find a proper value for this stock?

Problem is both CEX.io and Cloudhashing are hashing now. At the same time, we do not know when PETA Mine will start hashing till this moment.

Regardless of that I highly doubt that the costs will halve over the next couple of weeks and if petamine don't have their miners in January then there will be compensation so I still think that petamine shares are pretty cheap in comparison.

[rolo]

Does anyone know if the IPO shares will continue to be available for sale after hashing begins? Just curious, as presumably they wouldn't be able to add to the capacity without a bit of a wait?

Looking forward to getting started

[rdyoung]

Does anyone know if the IPO shares will continue to be available for sale after hashing begins? Just curious, as presumably they wouldn't be able to add to the capacity without a bit of a wait?

Looking forward to getting started

There is no reason for them not to be. They are repaying themselves with the ipo, so its in their interest to keep them up.
Considering the money they had to put out upfront to get this venture going I don't see why they wouldn't just receive and install all hardware they have ordered and keep the profits from the unsold shares for themselves/reinvestment until they sell.

[dhenson]

There is no reason for them not to be. They are repaying themselves with the ipo, so its in their interest to keep them up.
Considering the money they had to put out upfront to get this venture going I don't see why they wouldn't just receive and install all hardware they have ordered and keep the profits from the unsold shares for themselves/reinvestment until they sell.

This seems like the only likely outcome.  Cryptx, by fronting the money for the hardware purchase has definitely earned the right to hash with the equipment not yet purchased via the IPO.

[rolo]

Makes sense, thanks. I thought the size of the farm would be dependent on shares sold.

I'm not calling shenanigans, feeling positive about the way the stock's been carried so far, just wondering as I'd expect there's more likely to be people wanting to get in one hashing and divs commence.

[rdyoung]

Makes sense, thanks. I thought the size of the farm would be dependent on shares sold.

I'm not calling shenanigans, feeling positive about the way the stock's been carried so far, just wondering as I'd expect there's more likely to be people wanting to get in one hashing and divs commence.

I thought the same thing, until I read that the IPO was to recover funds they put on the line for the farm. And I at least didn't read shenanigans from your post. You asked a question and those of us with some experience/knowledge of financial markets answered.