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

[Stego]

Thanks to puppet, I sold my shares @0.075 2 weeks ago (at loss tho cause I was amongst those who bought @0.12...)

Sooo... thanks to Puppet you lost money?

Nope, was my bad to bought @0.12 few months ago. Actually the good advices of Puppet gave me a way out @0.075.
I was not being sarcastic when I thanked him.

[1714712767]

1714712767

[NotLambchop]

... I have a very impressive ROI pinhead, (not that it's any of your business) both in PETA and outside of it. You don't know me, nor what I do for a living. Don't talk to me about money you small brained simpleton...

Thanks bro.

[tsm13]

I know some are pissed off at Puppet coming in here, but it helped me make decision to get out while there was still profit on the table.

The drop in share price would have happened without Puppet coming into this thread, it was inevitable.

If I could go back two years and plonk my btc into a wallet and left there id be way richer in btc land now. I have lost 30% of my btc on stocks/bonds/you name it.  Id advise folks who are newish to the game to just do that and wait 6 months. If you want some risk and danger, setup a personal gamble with someone on the gambling forum based stockpicks for the same 6 months. If your not looking for roi go buy something for btc and support the technology(we are the early adopter geeks right?)

Last but not least, next time a stock ipo's ask yourself if the co has this amazing idea to make lots of money why do they share this with public and not keep to themselves (+ angel investors)

[Aireun]

I know some are pissed off at Puppet coming in here, but it helped me make decision to get out while there was still profit on the table.

The drop in share price would have happened without Puppet coming into this thread, it was inevitable.

If I could go back two years and plonk my btc into a wallet and left there id be way richer in btc land now. I have lost 30% of my btc on stocks/bonds/you name it.  Id advise folks who are newish to the game to just do that and wait 6 months. If you want some risk and danger, setup a personal gamble with someone on the gambling forum based stockpicks for the same 6 months. If your not looking for roi go buy something for btc and support the technology(we are the early adopter geeks right?)

Last but not least, next time a stock ipo's ask yourself if the co has this amazing idea to make lots of money why do they share this with public and not keep to themselves (+ angel investors)

Thats great that your happy with a loss thanks to puppet, and that your a man about it. But thats obviously the risk when it comes to mining bitcoin. The market on mining is a very fast paced one. What the PETA mine team has done here has developed a means for anyone to easily get in and get out, as seen fit. There is no mining investment in which someone can just have forever, like any investment you need to plan your goal for capital gain, remove your capital and then restructure your plan. Anyone mining for bitcoin on there own at home would find this almost impossible.

[NotLambchop]

... What the PETA mine team has done here every mining bond has developed a means for anyone to easily get in and get out, as seen fit. There is no mining investment in which someone can just have forever, like any investment you need to plan your goal for capital gain, remove your capital and then restructure your plan. Anyone mining for bitcoin on there own at home would find this almost impossible.

FTFY
The PETA mine team did little more than rinse and repeat.  But hey, why mess with a recipe that cooks up so well?

[Aireun]

Friday.  

We will all know more on the next move the cryptx team has. I believe there are more variables to the PETA mine outcome.

[Stego]

Friday.  

We will all know more on the next move the cryptx team has. I believe there are more variables to the PETA mine outcome.

Nope, AM has produced 60 PH of chips in their previous batchs and is currently selling them.
And that is just one manufacturer. The network is going to grow at an insane rate for the next couple of months.
From now on, the network growth is not sustainable for average player like cryptx.
And trust me, I was a truly believer of this project but I did not expect such a flood of ASIC chips.

[jonsi]

I just don't understand why all the belivers in Peta that are saying that the price is way to low aren't buying like crazy? They would make the deal of their life at this price according to their sayings. Hmmm... something it's not right with them I guess.

[fonsie]

I just don't understand why all the belivers in Peta that are saying that the price is way to low aren't buying like crazy? They would make the deal of their life at this price according to their sayings. Hmmm... something it's not right with them I guess.

Because they do not believe in it as much as they would want you to believe, they are just trying to pump it, so they can offload their shares with profit.

[nwfella]

I just don't understand why all the belivers in Peta that are saying that the price is way to low aren't buying like crazy? They would make the deal of their life at this price according to their sayings. Hmmm... something it's not right with them I guess.

I for one am broke or probably would be picking up a couple of shares at the current price.  I personally think that Puppet raises some really good points and obviously alot of his predictions have indeed panned out.  I'm currently running at a loss with Peta as well but I don't blame anybody for this.  I think Puppets intentions might in fact be noble believe it or not.  Regardless, I really think cryptx needs to either substantially lower hosting/admin fee's and/or get a couple of actual chip geek's on the payroll developing his own chip if this project is really going to flourish for anybody but cryptx himself.

[altoidmintz]

...I really think cryptx needs to either substantially lower hosting/admin fee's and/or get a couple of actual chip geek's on the payroll developing his own chip if this project is really going to flourish...

+1

[pedrog]

I just don't understand why all the belivers in Peta that are saying that the price is way to low aren't buying like crazy? They would make the deal of their life at this price according to their sayings. Hmmm... something it's not right with them I guess.

I for one am broke or probably would be picking up a couple of shares at the current price.  I personally think that Puppet raises some really good points and obviously alot of his predictions have indeed panned out.  I'm currently running at a loss with Peta as well but I don't blame anybody for this.  I think Puppets intentions might in fact be noble believe it or not.  Regardless, I really think cryptx needs to either substantially lower hosting/admin fee's and/or get a couple of actual chip geek's on the payroll developing his own chip if this project is really going to flourish for anybody but cryptx himself.

Don't be fooled, Puppet has his own agenda, he is not wasting is time here out of good will trying to prevent people from losing their money...

[altoidmintz]

Don't be fooled, Puppet has his own agenda, he is not wasting is time here out of good will trying to prevent people from losing their money...

Putting accusations to the side, I still disagree with his modelling.

Where is the reinvestment in his model?

That gives this result



No reinvestments for another 3 months, and cryptx NAV would be ~0.017 BTC / share...

He says, "No reinvestment..." which is out of step with reality to begin with! He models reinvestment REVENUE, but not the beneficial effect of SPENDING that fund.

[NotLambchop]

The Genesis Block can't keep up with the speed increase.
I've manually updated the chart 4 U.



ur welcome.

[skuser]

As you can read in Cryptx updates, all income supposed for reinvestment is used for paying back the loan. I did some homework and it seems that if the difficulty grows 30% next time, 20% in following 2-3 periods and after that slows down back to 15% the loan will be never paid back because all the income starting September will be eaten by hosting costs. The difficulty growth is disastrous for this project.

I will be glad if you can fix errors in my table, but this is how it looks like to me:

[Puppet]

Don't be fooled, Puppet has his own agenda, he is not wasting is time here out of good will trying to prevent people from losing their money...

Putting accusations to the side, I still disagree with his modelling.

Where is the reinvestment in his model?

That gives this result



No reinvestments for another 3 months, and cryptx NAV would be ~0.017 BTC / share...

He says, "No reinvestment..." which is out of step with reality to begin with! He models reinvestment REVENUE, but not the beneficial effect of SPENDING that fund.

No its full reality for the next ~3 months. If the current network growth keeps up, its gonna be reality for longer, potentially for forever.

But if/when the loan gets paid back and the reinvestment fund starts building up, the light blue line is the reinvestment fund. The best thing that could happen is that it gets paid out as dividend, then it would yield 100%, which I added to get the orange curve.

If it actually gets reinvested, it will fare like ALL previous mining securities throughout all of bitcoin history, including PETA so far,  and yield somewhere between 20 and 50% at a later date. If you want to believe it will yield 200%, be my guest, double the reinvestment fund from 0.004 per share and you get an additional 0.004 btc NAV per share. THat dramatically changes the outlook, doesnt it?  No, it doesnt, its noise. And a fantasy. If something comes along that would yield >100%, there will be opportunities to invest directly in to that, without the petamine debt boatanker attached to it.

BTW, when looking at that particular chart, try not to forget the absurdity of the network gwroth assumption its based on . Its a ridiculous best case scenario and already completely out of date by now:
Estimated Next Difficulty:   17,358,835,633 (+28.94%)

The difficulty after that will be far more than +7% even if not a single new miner gets deployed.

[tsm13]

Skuser, looks about right



I'm gonna pull back a quote i saw a good while ago, that is starting to make more sense now.

https://bitcointalk.org/index.php?topic=615339.msg6805563#msg6805563

The ROI for CryptX in all of this is the hosting fee each week, remember folks 70ish BTC/week is around 42k$ or 30k euro/week. lets break this down a bit more

30k euro a week, we are in Belgium so will stick to euro here

I would estimate power/hosting/site services(rack n stack) costs around 60% of that 30k, leaving CryptX a nice 650k paycheck annually(880k$)

A few folks mentioned the bagholders, this is the only benefit i can see to you guys...CryptX's fat stacks

[Puppet]

I will be glad if you can fix errors in my table, but this is how it looks like to me:

Dont expect ppl here to check math.



peta will go to the moon even if it requires reinventing arithmetic.

BTW, you how do you get to 337 BTC for this friday? At current difficulty, which has been in effect since last week, 1150TH would yield 300.7 BTC, and some crumbs from namecoins.

[MonkeyBear68]

Puppet,

I am starting to think that all BTC mining operations are like a dog chasing its tail in terms of turning a profit. Let's assume that difficulty will go up as you say and that PETA will not make a profit. Do you think that all Bitcoin mining operations will also end up in the same situation?

What is your take on DTMA & DTMB? (a couple of other mining funds soon to be offered on Havelock)

Do you foresee them being a success given their 6 month window till deployment?

[jonsi]

Puppet,

I am starting to think that all BTC mining operations are like a dog chasing its tail in terms of turning a profit. Let's assume that difficulty will go up as you say and that PETA will not make a profit. Do you think that all Bitcoin mining operations will also end up in the same situation?

What is your take on DTMA & DTMB? (a couple of other mining funds soon to be offered on Havelock)

Do you foresee them being a success given their 6 month window till deployment?

Keep in mind that the profit from mining is taken by the manufacturers. Do you really think that someone would sell you something for less that it's worth? After the miners become no longer profitable (no longer able to achive positive ROI) they release it on the market for huge profits, didn't we saw this time again and again? Mining is no longer decentralized.