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

[ujka]

The mining started before mid of Feb. But till now we see not even a dime sent to our address.

We were over that, already - 9 btc were at the wallet last friday - you have to deduct hosting and reinvestment, remains 6btc for divis, maybe. Was there a point dividing 6 btc on 80674 shares?

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[qwertyqwerty]

The mining started before mid of Feb. But till now we see not even a dime sent to our address.

I personally am more than happy to wait till this Friday before 1st Dividend payment. where is the sense in receiving dust?
Remember that based on dividend a 'yield' will be calculated next to havelock, small % will look unattractive. not that this matters to any long term investors, and also not that it changes anything, just a psychological thing.

[frito]

Are people actually selling at 0.1 or am I still drunk? How were not at .2 yet is beyond me

do the math

[mikemikemike]

Are people actually selling at 0.1 or am I still drunk? How were not at .2 yet is beyond me

do the math

done. shares are massively undervalued, but the price is slowly creeping up. I expect it to catch up to its true value by next week friday.

[eiprol]

done. shares are massively undervalued, but the price is slowly creeping up. I expect it to catch up to its true value by next week friday.

Yes.
Take a look at http://eligius.st/~wizkid057/newstats/userstats.php/1PETAmNrgdzx3FwzJPNuhx18JVKdGtwWt6

We have mined 25BTC so far, and we are supposed to mine 7.7BTC a day at current hashrate (that's 7x5= 35BTC until friday). So at the end of the week we will have at least 60BTC Mined... And I say at least, because this week more mining power is coming (4 TerraMiners and 62 Coincraft Desks); so let's say we manage to mine 100BTC by friday (optimistically or not, depending on the equipment we get and the date of arrival).

100BTC x 0.65 = 65BTC to divise by 80.000shares
That's 0,0008BTC per share.
With that dividend, at 0.12BTC/Share, yield on havelock will be ~35%. (remember, AM has a 6% of yield these days).

Let's think that we don't get all the power this week and we only yield turns to be 22%. It's great too!

Since this is just the beginning, and much more power is coming in the following weeks, i don't see the shares overvalued... Actually, It's a very fair price, and it will slowly rise

[mikemikemike]

done. shares are massively undervalued, but the price is slowly creeping up. I expect it to catch up to its true value by next week friday.

Yes.
Take a look at http://eligius.st/~wizkid057/newstats/userstats.php/1PETAmNrgdzx3FwzJPNuhx18JVKdGtwWt6

We have mined 25BTC so far, and we are supposed to mine 7.7BTC a day at current hashrate (that's 7x5= 35BTC until friday). So at the end of the week we will have at least 60BTC Mined... And I say at least, because this week more mining power is coming (4 TerraMiners and 62 Coincraft Desks); so let's say we manage to mine 100BTC by friday (optimistically or not, depending on the equipment we get and the date of arrival).

100BTC x 0.65 = 65BTC to divise by 80.000shares
That's 0,0008BTC per share.
With that dividend, at 0.12BTC/Share, yield on havelock will be ~35%. (remember, AM has a 6% of yield these days).

Let's think that we don't get all the power this week and we only yield turns to be 22%. It's great too!

Since this is just the beginning, and much more power is coming in the following weeks, i don't see the shares overvalued... Actually, It's a very fair price, and it will slowly rise

heh. and thats just going on current deployment.

this is turning out to be the one of the best investments since the NXT IPO. oh nom nom nom more shares nom nom nom.

[eiprol]

22.5 minutes   54.06 Th/s   

More TH/s arriving 

http://eligius.st/~wizkid057/newstats/userstats.php/1PETAmNrgdzx3FwzJPNuhx18JVKdGtwWt6

[hephaist0s]

22.5 minutes   54.06 Th/s   

More TH/s arriving 

http://eligius.st/~wizkid057/newstats/userstats.php/1PETAmNrgdzx3FwzJPNuhx18JVKdGtwWt6

Current share price=.129.
Getting good news every morning = priceless.

[Planken]

22.5 minutes   54.06 Th/s   

More TH/s arriving 

http://eligius.st/~wizkid057/newstats/userstats.php/1PETAmNrgdzx3FwzJPNuhx18JVKdGtwWt6

Current share price=.129.
Getting good news every morning = priceless.

http://www.forbidden-access.org/wp-content/uploads/2013/05/t1c7767_mr-burns-excellent-mfgs0e.jpg

[CBGuy]

Wanted to say that I am very happy with this news and to thank Petamine and Cryptx for this news. I believe they are leading the way in the cloud mining industry as this is a complete game changer in this industry. Great job and thanks again

[MonkeyBear68]

With this latest news I too think that Cryptx is doing a phenomenal job for investors in this fund. Thank you Cryptx for securing the extra hash power. This will ensure that those who bought at 0.05 will make a nice reward and should continue to do so through Cryptx's reinvestment strategy.


Newbies:

To those that are buying at today's highly inflated share prices (0.129) - Good Luck. By the end of May hash rate will be 4 X what it is today with all the new chips being shipped. Please refer to the chart in the link below, which is the actual hash rate increase in the network to date.

https://blockchain.info/charts/hash-rate?showDataPoints=false&timespan=&show_header=true&daysAverageString=7&scale=0&address=

The values displayed are a 7 day moving average. By the end of May that chart means that payout values will be a quarter or less of what they would be today. The network at the end of May will be over 100,000 TH/sec. If hash rate continues to increase at the same rate, then at the end of August the network will be nearing 500,000 TH/sec. Please do your calculations and determine what a fair price for a share of PETA should be.


Here is another link in which you can estimate the payout of a given amount of hash power:

http://bitcoinwisdom.com/bitcoin/difficulty

Simply enter in the value in the GH/s box and it will tell you the amount you will get per week based on current difficulty. It indicates both BTC and $ based on the current exchange rate. Remember each share is worth 8.68 GH/s, but 35% is reinvested in new chips, so each share will actually provide 5.642 GH/s. Also keep in mind we are not at full hash power. If you plug 5.642 GH/s into the edit, you will see that at today's levels a single share will yield 0.006347 BTC per week in dividends. This result is consistent with the daily dividend (0.00080347 * 7 to make it weekly * 1.13 to account for the difference between the 2 miners IE (5.642/5.0)) that B.MINE currently pays for a theoretical 5 GH/s miner so we know the above calculator is accurate.

At current share prices (0.129), this gives a break even point of 20 weeks, assuming we would immediately be at full power and there would be no hash rate increase. Please keep in mind that in only 13 weeks the network will have a 4 X higher hash rate. At a share price of 0.05 the break even point would be only 8 weeks; much more achievable, although it will still end up taking longer than 8 weeks as hash power will have doubled in 8 weeks.

I want people to make informed decisions about what they are paying for a share of PETA and I believe the above tools and examples will help them do so. In my opinion I believe the current share price is vastly overpriced, and no I do not want to buy cheap shares, I simply want to see everyone benefit from the great mining project that CryptX has started. Again hats off to CryptX for getting us shareholders the deals that he did.  

[rdyoung]

With this latest news I too think that Cryptx is doing a phenomenal job for investors in this fund. Thank you Cryptx for securing the extra hash power. This will ensure that those who bought at 0.05 will make a nice reward and should continue to do so through Cryptx's reinvestment strategy.


Newbies:

To those that are buying at today's highly inflated share prices (0.129) - Good Luck. By the end of May hash rate will be 4 X what it is today with all the new chips being shipped. Please refer to the chart in the link below, which is the actual hash rate increase in the network to date.

https://blockchain.info/charts/hash-rate?showDataPoints=false&timespan=&show_header=true&daysAverageString=7&scale=0&address=

The values displayed are a 7 day moving average. By the end of May that chart means that payout values will be a quarter or less of what they would be today. The network at the end of May will be over 100,000 TH/sec. If hash rate continues to increase at the same rate, then at the end of August the network will be nearing 500,000 TH/sec. Please do your calculations and determine what a fair price for a share of PETA should be.


Here is another link in which you can estimate the payout of a given amount of hash power:

http://bitcoinwisdom.com/bitcoin/difficulty

Simply enter in the value in the GH/s box and it will tell you the amount you will get per week based on current difficulty. It indicates both BTC and $ based on the current exchange rate. Remember each share is worth 8.68 GH/s, but 35% is reinvested in new chips, so each share will actually provide 5.642 GH/s. Also keep in mind we are not at full hash power. If you plug 5.642 GH/s into the edit, you will see that at today's levels a single share will yield 0.006347 BTC per week in dividends. This result is consistent with the daily dividend (0.00080347 * 7 to make it weekly * 1.13 to account for the difference between the 2 miners IE (5.642/5.0)) that B.MINE currently pays for a theoretical 5 GH/s miner so we know the above calculator is accurate.

At current share prices (0.129), this gives a break even point of 20 weeks, assuming we would immediately be at full power and there would be no hash rate increase. Please keep in mind that in only 13 weeks the network will have a 4 X higher hash rate. At a share price of 0.05 the break even point would be only 8 weeks; much more achievable, although it will still end up taking longer than 8 weeks as hash power will have doubled in 8 weeks.

I want people to make informed decisions about what they are paying for a share of PETA and I believe the above tools and examples will help them do so. In my opinion I believe the current share price is vastly overpriced, and no I do not want to buy cheap shares, I simply want to see everyone benefit from the great mining project that CryptX has started. Again hat's off to CryptX for getting us shareholders the deals that he did.  

You make some good points, not much to argue with.
However, we can't forget that while bitcoin stock exchanges are a little different than wallstreet, the same technical analysis as well as investor mentality applies.
According to http://www.multpl.com/ the average PE ratio on the S&P 500 is 19.58 as of today.
Investors in dividend paying wallstreet stocks don't typically worry about ROI. Now in the BTC space, it makes sense to be concerned about it, but if you can find a company that you believe will be around for years to come, ROI in a few weeks or months is great but not that big of a deal. Plus, you can sell your shares if you need to. ROI is important if your purchasing a fixed contract or physical hardware, not so much when it involves a security you can sell if need be.

That said, with a company like peta/cryptx, I can see the price being pushed up way past what you and I would say is a sane price. The average person investing in securities/stocks/etc does not usually apply common sense or analysis of any kind when investing, they just jump in with both feet.

We also can't assume that the difficulty will keep rising as it has been. When the network hits 100PHs, 20PHs will need to come online in 2 weeks to have a 20% jump. Thats equal to 10,000 Cointerra IVs or 20,000 bitmine coincraft rigs. Not to mention the hardware that is either turned off, or pointed towards an altcoin such as PPC. My gut feeling is that we start to level off somewhere between 75phs and 100phs.

If things work out on the schedule that they are aiming for, I believe that this will be one of the best investments yet of 2014.

In closing, don't really have a point to make, just thought I would play devils advocate and provide some food for thought.

[qwertyqwerty]

If hash rate continues to increase at the same rate, then at the end of August the network will be nearing 500,000 TH/sec.

we can use same logic to reach 500,000,000 TH/sec in December   - no

Remember each share is worth 8.68 GH/s, but 35% is reinvested in new chips, so each share will actually provide 5.642 GH/s.

we have 35% less hashrate per share? *because* 35% goes towards buying more hardware, which in turns increases the GH/share?? yet somehow end up with 35% less..really? - again - no

a 'break-even' point measured in weeks is not something that will turn any one off, we are talking about an investment, autopilot hosted mining operation and the most attractive on the market

I certainly will not be wishing any luck to shareholders buying, I will be wishing to try and understand a seller at this moment because any quick gains they are making are short-signed compared to long term potential of the operation.

here is more realistic return per share, per year. This is in line with CryptX own goals.

Code:

(1314000 * 0.018) / 100,000 * 1

where 1 = number of shares you have

obviously it is very, very simple calculation and can be +- some amount, but it is an achievable one nonetheless.

[pedrog]

here is more realistic return per year

Code:

(1314000 * 0.018) / 100,000 * 1

where 1 = number of shares you have

So, with that formula and PE ratio mentioned before, these shares can worth something like BTC3,5478 to BTC15,3738, or at current PE ratio BTC4,6310616, correct?

[trek27]

Recently we have seen some posts trying to entice people to believe that the price of 0.12 is too high. Arguments being: not long ago you could buy it for 0.05 and every share represents just 5.64Ghs (and not 8.68) because reinvestment cuts your dividend.

Let's try to keep it simple:

Petamine is a mining venture. It's main purpose is to generate bitcoins and the ability to produce new bitcoins is going to be the ultimate driver of its value. So, when someone buys a share in PETA how much bitcoins will he receive in return?
Basically there are two possibilities  a) CryptX achieves its objectives or
                                                b) they don't.

In case b) we simply cannot answer the question. In this case share price will fluctuate based on changing expectations about the future - any range is possible.
In case a) the answer is actually quite simple and there were already pertinent posts made on this forum, e.g.

or

and

To summarize: in case a) we will mine at least 2% of all mined bitcoins ! - EDIT: and reasonably expect half of this paid out in dividends

Is it worth 0.12 per share today? Everyone should judge by himself.


 
   

[naaktslak]

what will be consequence of the low bitcoin price for the difficulty? will it rise not as fast as normal?

[mikemikemike]

i'm not going to point out names but can people stop posting there half arsed attempts at valuing this venture?

spending ages writing up an opinion piece on the price while completely missing key points just makes you look stupid.

[cesmak]

what will be consequence of the low bitcoin price for the difficulty? will it rise not as fast as normal?

there is no link between difficulty and price, difficulty goes high as miners add mining power, and this has no direct connection to the price of btc.

[naaktslak]

what will be consequence of the low bitcoin price for the difficulty? will it rise not as fast as normal?

there is no link between difficulty and price, difficulty goes high as miners add mining power, and this has no direct connection to the price of btc.

but if the price is low arent people less willing to invest in mining hardware?

[IamNotSure]

what will be consequence of the low bitcoin price for the difficulty? will it rise not as fast as normal?

there is no link between difficulty and price, difficulty goes high as miners add mining power, and this has no direct connection to the price of btc.

but if the price is low arent people less willing to invest in mining hardware?

Indeed, but on the other end, reinvestment is done by converting BTC into fiat, so it's not really a good news.

But I think (hope) CryptX has converted the third IPO's BTC into fiat weeks ago, when it was around 800$.