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

[stompysteve]

So divs at two digits again, and price still at .0006. Why would anyone buy that outdated hardware with btc price so low?

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[Puppet]

hahaha I like your interest Puppy. KEEP CALM and post something funny.

How is this for funny

Code:

2014-09-29	2014-09-29	0.00000053
2014-09-28	2014-09-28	0.00000085

Hilarious, no?

[stompysteve]

One day where ghash gets under 25 blocks or btc price going to 350 its over

I think for the next two weeks probably you will see divs under 100 then cryptx shuts down and trys to sell hardware

[nwfella]

One day where ghash gets under 25 blocks or btc price going to 350 its over

I think for the next two weeks probably you will see divs under 100 then cryptx shuts down and trys to sell hardware

This being the operative word.

[Puppet]

On the bright side, I would guess most mining hardware price is more closely related to dollar than BTC value, so the BTC price drop has two upsides: it brings forward zero div day (that is, unless cryptx is clever/devious enough to lower fees a little bit each time, which Id fully expect), and it could generate more bitcoins on the sale. Then again, I stopped following the SHA device market closely, so Im not sure how many people are still out there interested in buying used 1W/GH gear.

[Puppet]

[stompysteve]

I dont think zero div day because they found more blocks then the day when it was 53

I think you will see an announcement today pushing the project for another two weeks

[Puppet]

I dont think zero div day because they found more blocks then the day when it was 53

I think you will see an announcement today pushing the project for another two weeks

Have a look yourself:
https://blockchain.info/address/1PETAmNrgdzx3FwzJPNuhx18JVKdGtwWt6

Cryptx collected his 14.16BTC fees, and there is zero left for divs. Well, technically, 0.00000001 BTC. Divided by how many shares ? Think we need a modification to the bitcoin protocol to turn that in to a dividend

BTW, likely shareholders now owe money to cryptx, because 14.68 is less than yesterday, and the BTC exchange rate has dropped.

[stompysteve]

Good on cryptx to not even make an announcement sheesh lol
Glad I only come here to follow the thread I would have lost btc if I didn't day trade at all

How much in divs did they pay over the span of being on havelock?

[jaysabi]

Just so I understand the relationship properly, Cryptx runs the rigs and charges hosting fees for doing so? Is that how they make their money?

Havelock lists the securities and charges fees for trading them.

Do I have these two things correct?

[stompysteve]

Just so I understand the relationship properly, Cryptx runs the rigs and charges hosting fees for doing so? Is that how they make their money?

Havelock lists the securities and charges fees for trading them.

Do I have these two things correct?

Just about

[jaysabi]

Just so I understand the relationship properly, Cryptx runs the rigs and charges hosting fees for doing so? Is that how they make their money?

Havelock lists the securities and charges fees for trading them.

Do I have these two things correct?

Just about

So Cryptx is charging 14 BTC per day as a hosting fee, which is basically what the equipment mines now, and that's why divs have reached zero?

[Puppet]

How much in divs did they pay over the span of being on havelock?

With the split, thats too much work for me calculate. So ill give you my best approximation: peanuts.

[freedomno1]

How much in divs did they pay over the span of being on havelock?

With the split, thats too much work for me calculate. So ill give you my best approximation: peanuts.

Sounds about right I'm sure it could be added but it was a fraction of the total cost.
Either way was not a very good asset to begin with.

[Puppet]

Dear unit holders,

Difficulty has increased a little more than we originally anticipated. Our IPO prospectus foresaw a difficulty of less than 2B by this time. In reality it is a little higher, at 17 times our projection. As a result, we have fallen a bit short of our initial 1BTC per share dividend goal for October. But if bitcoin exchange rate increases by a few orders of magnitude and difficulty declines dramatically over he next decade or two, our initial goal is still within reach.

To maintain the possibility of achieving this goal, PETA mine will continue running for as long as mining revenue exceeds our very low undisclosed hosting costs. But whenever the revenue falls below our publicly announced $0.15/GH/month, as happened yesterday and will happen more and more frequently in the future,  PETA will generously  lend unit holders the difference so that no negative dividends have to be collected. Actual dividends will only resume once this accumulated debt is repaid, which will be increasing unlikely to happen ever.

Looking further ahead, once mining revenue drops below our undisclosed hosting costs, we will auction off the hardware, and will deduct this sum from the outstanding loan, thereby reducing the debt unit holders owe to Peta.

PETA mine has come a long way, and together with Havelock, has been a leader in driving down prices per GH, from ~0.007 BTC per GH at IPO to 0.0003 0.00025 ฿0.00020 BTC today, an impressive 2300 2700 3000% decline in just a few months. We are proud of this achievement and look forward to continuing on this path and set new records along the way.

YHBT
Team CryptX

[IamNotSure]

Dear unit holders,

Difficulty has increased a little more than we originally anticipated. Our IPO prospectus foresaw a difficulty of less than 2B by this time. In reality it is a little higher, at 17 times our projection. As a result, we have fallen a bit short of our initial 1BTC per share dividend goal for October. But if bitcoin exchange rate increases by a few orders of magnitude and difficulty declines dramatically over he next decade or two, our initial goal is still within reach.

To maintain the possibility of achieving this goal, PETA mine will continue running for as long as mining revenue exceeds our very low undisclosed hosting costs. But whenever the revenue falls below our publicly announced $0.15/GH/month, as happened yesterday and will happen more and more frequently in the future,  PETA will generously  lend unit holders the difference so that no negative dividends have to be collected. Actual dividends will only resume once this accumulated debt is repaid, which will be increasing unlikely to happen ever.

Looking further ahead, once mining revenue drops below our undisclosed hosting costs, we will auction off the hardware, and will deduct this sum from the outstanding loan, thereby reducing the debt unit holders owe to Peta.

PETA mine has come a long way, and together with Havelock, has been a leader in driving down prices per GH, from ~0.007 BTC per GH at IPO to 0.0003 0.00025 ฿0.00020 BTC today, an impressive 2300 2700 3000% decline in just a few months. We are proud of this achievement and look forward to continuing on this path and set new records along the way.

YHBT
Team CryptX

 

You can't lose more than 100% ... you did the math wrong

More like 95% loss.. quite a nice performance !

[crino]

Dear unit holders,

Difficulty has increased a little more than we originally anticipated. Our IPO prospectus foresaw a difficulty of less than 2B by this time. In reality it is a little higher, at 17 times our projection. As a result, we have fallen a bit short of our initial 1BTC per share dividend goal for October. But if bitcoin exchange rate increases by a few orders of magnitude and difficulty declines dramatically over he next decade or two, our initial goal is still within reach.

To maintain the possibility of achieving this goal, PETA mine will continue running for as long as mining revenue exceeds our very low undisclosed hosting costs. But whenever the revenue falls below our publicly announced $0.15/GH/month, as happened yesterday and will happen more and more frequently in the future,  PETA will generously  lend unit holders the difference so that no negative dividends have to be collected. Actual dividends will only resume once this accumulated debt is repaid, which will be increasing unlikely to happen ever.

Looking further ahead, once mining revenue drops below our undisclosed hosting costs, we will auction off the hardware, and will deduct this sum from the outstanding loan, thereby reducing the debt unit holders owe to Peta.

PETA mine has come a long way, and together with Havelock, has been a leader in driving down prices per GH, from ~0.007 BTC per GH at IPO to 0.0003 0.00025 ฿0.00020 BTC today, an impressive 2300 2700 3000% decline in just a few months. We are proud of this achievement and look forward to continuing on this path and set new records along the way.

YHBT
Team CryptX

Where did you find that info?

[Puppet]

You can't lose more than 100% ...

Me ? No, I cant. Cryptx however, dont underestimate his ability to incur losses upon his shareholders .

BTW, Last Price    ฿0.00010000 ROFL

[Puppet]

Where did you find that info?

Really?

http://goo.gl/PE3TyT

[FSMA_Filings]

The two former Poker players behind this outfit will be getting investigated within a week if I see no action taken. I have their information from high profile investors who have communicated with them at conferences.

Rest assured I have contacts who are taking preliminary steps already . This is gross negligence at the bare minimum and a blatant violation of the terms stated prior to IPO.

These units are worth considerably more in the open market. - They have been forwarded a request from an interested party already. They've received numerous requests to initiate liquidation of shareholder-owned assets and not responded to a single one. Next course of action is to determine whether the units were ever purchased as claimed with investors funds or leased, amounting to intentional deception by the operators. BitFury has been issued with questions .