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

[NotLambchop]

... the death rattles yet of size 50pt chopinscript and pinkie pie gifs yet, but there is a familiar and pungent scent...

Distilled poesy!1!

You'll get your Ponka condolences gif, but of that day and hour knoweth no man, no, not the angels of heaven.
Just hang tight, k?

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[dhenson]

That is what I am wondering, perhaps Puppet knows something that we don't but in my own mining I know re-investment is key and he seems to imply (as in misses it out of his equations) that they are not doing it or miss-managing it.

Neil

P>S> I am really learning heaps from this thread

I assure you, he knows much less about the future of this project than both the issuer and large shareholders. Both of which are in a better position to judge long term than majority talking here holding either a trivial amount or exactly 0 shares

I can't call the simulations, 1000's of word's he's put into disparaging the project and detailed chart he's took the time to produce  wrong because they are not and that would be disingenous. surely more effort than the average investor would of taken. the 'math is sound' just so say simply simulations are not reality.

We're not hearing the death rattles yet of size 50pt chopinscript and pinkie pie gifs yet, but there is a familiar and pungent scent of high functioning autism clogging up the pages recently. The lower shareprice gets the thicker the flow of annotated charts and various memes will come, it becomes a safer bet at that time to be on the opposite side of supporting, similar to how vultures swoop at the smell of death.  Perhaps it might get too overwhelming for some casual onlookers. Anyone is free to make their own decisions.

Quoted for brilliance and posterity.

[Puppet]

That is what I am wondering, perhaps Puppet knows something that we don't but in my own mining I know re-investment is key and he seems to imply (as in misses it out of his equations) that they are not doing it or miss-managing it.

Like I said a bazillion time, reinvestment is the exact same thing as investment except for the source of the funds. There is no "key", or if there is one, its the ROI, not the reinvestment; if your investment instrument yields less than 100% ROI, any subsequent round of reinvestment in the same instrument will only lose you more of your original funds until one day you lost it all.  THink of it as a money changer, you put in $100 dollar and it spits out $90. "reinvest" those $90 and do that over and over, and in the end you have nothing left. Of course the opposite is also true, if you do have a machine that spits out $110 for every $100 you put in, your profits are potentially infinite.

Here is the thing though: Cryptx initial investments are on track to offer a return of no more than 25-40%. Is it wise to reinvest your money in such an instrument? No mining security ever has produced 100% ROI or even come close. Yet in my simulation I am assuming the reinvestment fund will yield 100%. While highly unlikely, Its not impossible it will yield more, but if you believe it will yield  more than that, then you will want to invest only in those (re)investments, not in the current asset, or at least no where near the current price. It would be unthinkably stupid for cryptx to come up with something that would certainly  yield >>100% yet limit himself to investing only the pocket change that will be in the petamine reinvestment fund. Ergo, he would launch another security.

[dhenson]

I have to disagree on this point.  The key to wining this mining game is to have a sufficient amount of hardware paid off by the time the exponential growth curve levels off.  We are in the 'acquire hardware' faze that will pay long term dividends once that occurs.

As long as we keep mining and selling equipment to get more efficient hardware we will be well positioned to play the long game.

Puppet/AntiLambChop/WhateverSockAccountOfTheDay we all know your views, you've expressed them, they were I'm sure appreciated by some.  The rest of us are ready for you to go away.

[Swordsoffreedom]

That is what I am wondering, perhaps Puppet knows something that we don't but in my own mining I know re-investment is key and he seems to imply (as in misses it out of his equations) that they are not doing it or miss-managing it.

Neil

P>S> I am really learning heaps from this thread

I assure you, he knows much less about the future of this project than both the issuer and large shareholders. Both of which are in a better position to judge long term than majority talking here holding either a trivial amount or exactly 0 shares

I can't call the simulations, 1000's of word's he's put into disparaging the project and detailed chart he's took the time to produce  wrong because they are not and that would be disingenous. surely more effort than the average investor would of taken. the 'math is sound' just so say simply simulations are not reality.

We're not hearing the death rattles yet of size 50pt chopinscript and pinkie pie gifs yet, but there is a familiar and pungent scent of high functioning autism clogging up the pages recently. The lower shareprice gets the thicker the flow of annotated charts and various memes will come, it becomes a safer bet at that time to be on the opposite side of supporting, similar to how vultures swoop at the smell of death.  Perhaps it might get too overwhelming for some casual onlookers. Anyone is free to make their own decisions.

Quoted for brilliance and posterity.

Thanks for the wonderful flashbacks to the Labcoin thread
It went full pony for a while with those pinkie pie gifs and weird pictures before things went down the tubes.

Anyways keeps observing this asset time tells no lies after all.

[Puppet]

I have to disagree on this point.  The key to wining this mining game is to have a sufficient amount of hardware paid off by the time the exponential growth curve levels off.

Lets hear your estimate that justifies holding petamine. What will difficulty be like 6 or 12 months from now you think? How many GH will petamine operate? You keep dissing my projections by trying to attack my character, how about you try convincing anyone (including yourself) with some numbers instead?

We are in the 'acquire hardware' faze that will pay long term dividends once that occurs.

Actually, with the current hosting and electricity costs, there is nothing long term about this; dividends are heading towards zero by the end of this year, as hosting fees per GH will become larger than the mining revenue per GH. Even if cryptx manages to increase power efficiency by 35% without losing any hashrate, it will only take about a year before dividends effectively become 0 and cryptx will have to pull the plug. And of course in either case, you will not have come close to "paying off" the hardware to the investors who funded it.

[Puppet]

Calling what I've done "Attacking your character" is a stretch. I'm simply pointing out that you aren't being truthful regarding your motivations.

 

WTF? Implying Im a deceitful liar with a hidden agenda isnt an attack on my character? Fuck you!

I also post only using one single account, Im also completely honest about my bitcoin investments: they are all in a cold wallet. Unlike you, I have a trackrecord of  exposing scams and making accurate predictions time and again, and have no financial incentive whatsoever to provide misinformation. I truly wish I had, but for some reason no one, you including is willing to either take my bets or borrow me their shares for a fee.

Do we know how long the exponential growth will continue? No.  Will it end soon? Most likely not. That doesn't mean that I won't continue making money with PETA.

Yes it does if you do the math, but you stubbornly refuse to present any numbers that could possibly show you or any investor making a long term profit. You're just looking for a way out, I know I would if I held as many peta shares as you.

[fonsie]

and increasing share price

I'm not sure where you saw this increase in share price? Can you offload your shares of any reasonable amount (> 100 shares), without dropping the price below 0.065? I think not. It's not because somebody bought 1 share for a price of 0.069, that the value has increased, you need volume...

You also keep pointing out that Puppet is using multiple accounts, can you give some prove of this? Pehaps ask a moderator to verify your bold claims...

Otherwise you are no more than a pumper that's trying to get his sell order of perhaps (243/243   ฿0.07899990) sold. If you achieve this, yes you made a good investment, but don't get your hopes up, the peta orderbook is giving a clear sign that more investors want out than in.

[blizeH]

Puppet is an impressively good troll, but please guys stop feeding him... just ignore him and hopefully in time he'll get bored and go away.

[webbrowser]

one month and 53 pages after my last post, the situation looks even more dire than my (optimistic) projections.

i guess the end is near, but it is like watching a train crash in slow motion.

[ChevaL]

Everyone had the chance to sell all week but they prefer to sell NOW at sub .067 on dividend day? 

[NotLambchop]

...
Puppet/AntiLambChop/WhateverSockAccountOfTheDay we all know your views, you've expressed them, they were I'm sure appreciated by some.  The rest of us are ready for you to go away.

dhenson, since i've been accused of being every bogeyman from Icebreaker to Eduardo de Castro to Mircea Popescu, I don't usually bother denying such accusations.  For the record, I'll state that I am not Puppet, but I neither expect you to trust me, nor will I be dragged into a debate trying to prove it.
After all, you distrust math and logic, so convincing you would be a tall task.

@Everyone else:  Learn to causation.  Pinkie gifs don't cause the demise of a company.  No more than circling buzzards cause the death of a nag.
No.
Circling buzzards show up 'coz said pony is no longer in the pink, and unloading it on a greater fool a quick trip to a glue factory is the most sensible way to deal with the situation.
@Ponka: U best poney~
@ChevaL:  No offense.

 Happy investing, everyone!

[fonsie]

Can you guys see where this is heading? Back down it is...

https://blockchain.info/charts/balance?timespan=1year&daysAverageString=1&scale=0&address=1PETAmNrgdzx3FwzJPNuhx18JVKdGtwWt6

[Puppet]

Looks like-10% per week, again my projections prove overly optimistic. Fun hasnt really started yet though:

Estimated Next Difficulty 16,274,458,536 (+20.89%)

https://bitcoinwisdom.com/bitcoin/difficulty

Happy days are here again

[stompysteve]

Weeks div guess
0.0016775

[bit-joker]

The concept of a crypto-currency investment is marvelous. You don't need to fill paperwork, show id… You just transfer X amount and you are already a stock owner. A company located anywhere can get funds from anywhere and pay dividends without fees nor getting robbed paying taxes.

Hopefully in the future we can all invest in companies this way. Companies couldn't cook the books since we all could see transactions/sales.


Like any stock in a common stock market, we should see if the company is a good investment. Just because I like a Big Mac, I won't invest in McDonalds.

PETAMINE has a lot of hash power, has a cheaper GH/s per dollar comparing to CEX.IO, reinvest part of the income to increase it hash power (and increase the chance of having an income)… It looks great BUT:

Operating expenses seems too high in IMHO. A mining farm should be where electricity cost is near-zero and having less employees as possible. I would like to see the financials; How much goes to employees, how much goes for electricity… Otherwise I don't know if it is a good investment.

[nwfella]

Unfortunately I too have to agree that peta should be lowering power/hosting costs even further.  Given the fact that entire operation is run on some huge solar/hydro energy plant somewhere it seems as though they should be able to bring electric/hosting fee's down quite a bit.  If something doesn't happen relatively soon I'm afraid all of these nay-sayers might just end up being right about long-term viability of petamine.

[stompysteve]

looks like they sold a couple of rigs as well 8.46 BTC

so updated div prediction
0.0017292

[_biO_]

Looks like the hosting cost is much lower this time around. Down to ~41 BTC from ~74 BTC previously?

[cryptoconomist]

June 20th, 2014 - Dear unit holders,

Details about this week’s dividend payout:
337.48511399 BTC in total from mining and converted NMC’s
- 132.20539483 BTC as dividend (0.00170605 BTC/share)
- 132.20539483 BTC as payment for hardware (538.350818 BTC remaining)
- 73.07432432 BTC as hosting fee

We announced to further examine and experiment with p2pool last week. We have set up our own p2pool node ( http://pool.petamine.co:9332/static/ ) and after several days of testing we can confirm that it is running stable and are ready to direct the entire PetaMine to p2pool.
Therefore we are issuing a vote whether or not to switch to p2pool. The vote will only be valid for current unit holders and held until Wednesday, June 25th 2014 - 12:00 GMT. Votes will be weighted based on the amount of units of each individual unit holder. Based on outcome, we will direct our hashrate to p2pool.

Click the link below to place your vote:
https://nl.surveymonkey.com/s/5KVLXD3

Take a look at our public p2pool node (0% fee, so you are welcome to join):
http://pool.petamine.co:9332/static/

Important issues to consider:
- Pool variance:
A small pool has much more variance, which has a direct effect on block finding and payouts. Currently p2pool has a pool hashrate of 600 TH/s, together with PetaMine the pool rate would rise to about 1.8 PetaHash. The variance of finding a block with p2pool will be much higher than our current pool ghash.io.
- Merged mining:
Our node will merge mine Namecoin but as p2pool does not support combined merged mining with other nodes, our node will solo mine Namecoins.

We look forward to your vote and to help making bitcoin mining more decentralized.

Team CryptX