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

[BenTuras]

There is no hardware cheaper than this available to be bought immediately. Also they are not auctioning the boards so if they can't sell for the price they are asking they will just continue hashing. I think there is nothing to lose by trying to sell.

How much are you willing to pay for a money making machine that will bring you €230 in the coming 3 months ?
(I know, it's hard to see that number, I am disappointed too, with all the expensive hardware I have).

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[webbrowser]

Is cointerra on track for dec delivery?  I thought I read about a delay somewhere.

I suppose that the datacentre and power fees are a fixed contractual fee, even if the bitfury miners are sold?

[dhenson]

I voted yes... seems like a no brainer to me.

[iCEBREAKER]

Is cointerra on track for dec delivery?  I thought I read about a delay somewhere.

No, Cointerra is not on track for dec delivery.

You may have read about their tape-out problem.  It was supposed to be done the first week of Oct, but it's taken all month.

Cointerra is lucky if they get chips in Dec and not mid Jan. 

No way they can ship boxes this year, after losing 3 weeks to tape-out delays.

[frito]

CryptoX,fellow Shareholders

1.There is no way you can sell 50GH/s for 600EUR, way too overpriced.

2.Mining continuation will likely bring more BTC by the end of Dec 2013. Lets sell the old HW then(after Dec) for e.g. 100EUR and divide it between shareholders.

3.How is the reinvestment of 35% going?  Has there been anything reinvested yet?

4.16TH/s is not 20TH/s. When will it be mitigated?

thx

[ujka]

3.How is the reinvestment of 35% going?  Has there been anything reinvested yet?

Reinvestment (35%) starts with the deployment of the mine in december (if cointerra delivers). This mine now, 16TH, is CryptX private. But minting for our dividends.

[dhenson]

Cryptx has an existing business selling these boards. He knows the market better than anyone.  If they don't sell at the asking price then they will simply continue to mine. 

How can you in one breath say we're asking too much per board and then in the next say we will make more by mining.

These are worth more to us selling now.

[hephaist0s]

Cryptx has an existing business selling these boards. He knows the market better than anyone.  If they don't sell at the asking price then they will simply continue to mine. 

How can you in one breath say we're asking too much per board and then in the next say we will make more by mining.

These are worth more to us selling now.

+1

[frito]

3.How is the reinvestment of 35% going?  Has there been anything reinvested yet?

Reinvestment (35%) starts with the deployment of the mine in december (if cointerra delivers). This mine now, 16TH, is CryptX private. But minting for our dividends.

First it was supposed to be 20TH/s not 16, it's just at 80% of promised capacity.
Second they have the reinvestment build in the showcase model (in the spreadsheet) from October.

[frito]

Cryptx has an existing business selling these boards. He knows the market better than anyone.  If they don't sell at the asking price then they will simply continue to mine. 

Look at other HW pricing. Also they would need to sell about 320 boards (16TH/50GH) for 600EUR Quickly (HW price GH/s/USD should be dropping approx. inverse to difficulty), which i think is unlikely.

How can you in one breath say we're asking too much per board and then in the next say we will make more by mining.

I can do it in half a breath too.Those two things do not contradict each other.
If you do the math(someone already did it here today) it does seem as a better option(even though not by much) to keep on mining till Dec (till 100TH/s is deployed) then try to sell the old boards.

These are worth more to us selling now.

Same answer as above.

[dhenson]

Now that I'm not on my phone I can hopefully explain my reasoning a bit better.

First let's assume we agree that MORE bitcoin is better than LESS bitcoin. Without this assumption, there isn't much point in me continuing so I'll just chalk that one up to being self evident and move on. 

Let's also assume that the price point at which we will be selling these blades is higher than the amount of bitcoin that could conceivably be mined by said blades.  Otherwise it wouldn't make any sense whatsoever to sell the blades.  If overzealous people want to pay too much for 50GH blades, then that is good for us.

It is pointless to argue about the price of the blade being excessive.  Either people will buy them at the price he has indirectly asserted or they won't.  At no point did he say he will lower his price to meet demand.  This will lead to one of three possible out comes...

  1) All hardware sells in which case we all receive a nice 20-25% dividend, as we would be selling for more than the device could possibly mine in a realistic time frame then this option means more bitcoin for you and me.

  2) Some hardware sells and the remaining continues to keep hashing.  This is a better option than simply mining as the portion that sells will return a higher dividend than simply by mining.

  3) No hardware sells = status quo, no change.

How again is this in any way a bad move for investors?

[cryptx]

Bitfury competition:


http://www.blackarrowsoftware.com/
36GH at 749$: 20.80$/GH

www.bitfurystrikesback.com
Do not sell units any more

https://megabigpower.com/shop
400GH at 8000$:  20$/GH

http://www.minersource.net/mining-hardware
delivery now:
41.7GH at 4BTC : 19.18$/GH

http://drillbitsystem.com/order.html
21.7GH at 2BTC : 18.43$/GH

Pls add competition that I'm forgetting

[dhenson]

Bitfury competition:


http://www.blackarrowsoftware.com/
site down now (will be edited)

www.bitfurystrikesback.com
Do not sell units any more

https://megabigpower.com/shop
400GH at 8000$:  20$/GH

http://www.minersource.net/mining-hardware
delivery now:
41.7GH at 4BTC : 19,18$/GH

http://drillbitsystem.com/order.html
21.7GH at 2BTC : 18,43$/GH

Pls add competition that I'm forgetting

Cryptx,

Could you please verify at what price you would be selling?  The site specifies 599 (euro?), that is roughly 16.46 USD/GH assuming 50GH/Board.

I think people are assuming that you will sell lower than that.  My assumption is that you are not lowering the price and are simply selling @ the above price.

It would also help to know if you have existing demand at that price.

[cryptx]

new manafacturer, chips ready in ~14 days

then (talking now or near future) you've got btcgarden gen1, TMR gen 1, Avalon gen2, knc,land,btcdrill etc

I think we should compare units that can be sold and delivered now.

[cryptx]

Cryptx,

Could you please verify at what price you would be selling?  The site specifies 599 (euro?), that is roughly 16.46 USD/GH assuming 50GH/Board.

I think people are assuming that you will sell lower than that.  My assumption is that you are not lowering the price and are simply selling @ the above price.

It would also help to know if you have existing demand at that price.

The selling price will be determined tommorow or day after. (if hardware sale is chosen of course)
and we will only sell at prices which benefits the general revenue of the PETAMINE

[frito]

  2) Some hardware sells and the remaining continues to keep hashing.  This is a better option than simply mining as the portion that sells will return a higher dividend than simply by mining.

Ok I did the math myself and came up with cumulative 850ish(starting today) BTC PM profit(if 100% goes to the shareholders).

So provided that PM remains only at 16TH/s (not 20TH/s as promised) and provided the cards sell at 600EUR (no less) then it is better if they start selling.

[dhenson]

Changing topics.  If 100% of the proceed's go to shareholders (of the 20TH) why was 110 bitcoin withheld from the dividend payment last Friday?  Will that be paid out?

[cryptx]

Changing topics.  If 100% of the proceed's go to shareholders (of the 20TH) why was 110 bitcoin withheld from the dividend payment last Friday?  Will that be paid out?

This was included in the first dividend of 300 BTC (paid on Oct 18th).

[cryptx]

FAST AUCTION of 8 Bitburner Fury boards

Shipping tomorrow

https://bitcointalk.org/index.php?topic=321331.0

[cryptx]

Dear shareholders,


We are going to issue a vote on cryptostocks.com about a possible hardware sale.

We like you to choose between continue mining with the existing hardware (+/- 16 TH/s) or sale of current hardware through our website www.asic-hardware.com

We anticipate to collect about 1000 BTC in the hardware sale. This will result in a one time dividend of about 20%-25%.

During the sale of the hardware, we will keep mining the equipement and keep paying dividends each friday of the mined BTC's.

This to outweigh if a one time dividend of hardware sale will return more than combined mining dividends.


Please vote here:
https://cryptostocks.com/securities/52/voterequests

Vote request:
"Do you agree with a one time dividend of a hardware sale of our current mining equipement?"

Result of the vote

YES/NO   57874/1624