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

[ujka]

I still want to have hope and trust in people, so I believe Cryptx is doing his best in this project.
Right now he is offering us 2.4 times of what we originally bought! That will greatly outperform those few weeks of no dividends.

[st4nl3y]

Right now he is offering us 2.4 times of what we originally bought! That will greatly outperform those few weeks of no dividends.

this is exactly what I mean...if something looks too good to be true it probably isn't


 

[Mapuo]

It isnt.

UPDATE 15/11/2013

Fifth dividend paid 0.00164041 BTC or 2,85%

Next dividend will be paid on 22/11/2013

2 hours and 8 min to 23.11, and still nothing..

[ujka]

2 hours and 8 min to 23.11, and still nothing..

There will be no dividends this week, and will stay that way a few weeks. Untill new hardware arrives.
In return we get 2.4 gh/share instead. Too good to be true?

[Mapuo]

2 hours and 8 min to 23.11, and still nothing..

There will be no dividends this week, and will stay that way a few weeks. Untill new hardware arrives.
In return we get 2.4 gh/share instead. Too good to be true?

The last is

UPDATE 15/11/2013

Fifth dividend paid 0.00164041 BTC or 2,85%

Next dividend will be paid on 22/11/2013

[dhenson]

I'm hesitantly optimistic.  It really all depends on when the newly ordered equipment arrives.  Cryptx has a special relationship with Cointerra that might have enabled them to make a sweetheart deal on this purchase, without more info we can only speculate.

Personally I'm very happy with the moves Cryptx has taken with this mine up to this point and have every confidence that he will continue to do what is best for the shareholders.

[hephaist0s]

I'm hesitantly optimistic.  It really all depends on when the newly ordered equipment arrives.  Cryptx has a special relationship with Cointerra that might have enabled them to make a sweetheart deal on this purchase, without more info we can only speculate.

Personally I'm very happy with the moves Cryptx has taken with this mine up to this point and have every confidence that he will continue to do what is best for the shareholders.

+1

[cryptx]

I had to delete 2 posts because we cannot tolerate certain language.

We do however appreciate constructive ideas and criticism.

[VonSpecht]

Dear Cryptx, maybe you should instead than deleting some messages, try to inform your customers about the current situation?

You just canceled this week dividends without any warning and said that you will explain it later...?? There are large amounts of money holding on your project, so it's of course quite natural that peoples get nervous when they don't know what is going on there, right?  

Your work seems professional so far and personally I want to trust that you are doing right things, but please don't forget to communicate with your customers who have trusted you!! Thanks.

[st4nl3y]

Dear Cryptx, maybe you should instead than deleting some messages, try to inform your customers about the current situation?

You just canceled this week dividends without any warning and said that you will explain it later...?? There are large amounts of money holding on your project, so it's of course quite natural that peoples get nervous when they don't know what is going on there, right?  

Your work seems professional so far and personally I want to trust that you are doing right things, but please don't forget to communicate with your customers who have trusted you!! Thanks.

well said

+1

[cryptx]

Dear Cryptx, maybe you should instead than deleting some messages, try to inform your customers about the current situation?

You just canceled this week dividends without any warning and said that you will explain it later...?? There are large amounts of money holding on your project, so it's of course quite natural that peoples get nervous when they don't know what is going on there, right?  

Your work seems professional so far and personally I want to trust that you are doing right things, but please don't forget to communicate with your customers who have trusted you!! Thanks.

We do appreciate the trust a lot of people have put in us and the project.
All the decisions we make are with the best interest of the PETAMINE in mind.

We are finalizing some deal negotiations and cannot communicate about this in detail before they are finished.
We do not want to jeopardize this operation by communicating prematurely about it.

We ask for some patience from you guys, until we are able to close them.

[Ashitank]

cryptx , are you still selling bitfury boards.

[Foebar]

without going into detail about the negotations, can you at least confirm the launch of (a part of) the PETAMINE mid december as stated in your initial documentation??

[cryptx]

Dear shareholders,

A lot has been going on in the last couple of weeks. We like to provide you with a full update of the current situation.

The initial plan was to deploy 1 GH/s per share mid-December. We made a deal with Cointerra to provide this 1 GH/share. We also made an extra commitment to our shareholders to deploy an extra 20 TH/s at the end of September.

We started the deployment of the 20 TH/s in the beginning of October. We were delayed a few days by some unforeseen production hiccups. We compensated this delay to our shareholders by paying an extra-large dividend corresponding with a start of the mine at the end of September. In 1 month we paid a total dividend of 915 BTC to our shareholders.

A few weeks ago, we came in contact with Bitmine (www.bitmine.ch). Bitmine is a European ASIC manufacturer located in Switzerland. We saw an opportunity to expand the PETA-MINE and in the meantime to divide the risk between 2 partners. We decided to sell the hardware of the mine and use this money to make a contract with Bitmine to purchase an extra 1.4 GH/s per share.

You can find a financial comparison of the old versus the new situation here:
https://docs.google.com/spreadsheet/ccc?key=0AjI5bgsiFJAidFdzOTk1aXl6cS1zNG1nck5OZjRBeXc&usp=drive_web#gid=0

To sum up: we have a contract with Cointerra to deliver 60 TH/s of mining equipment (December batch) and we have a contract with Bitmine to deliver 90 TH/s of mining equipment early January.

Additionally we have a contract with Bitmine to reinvest up to 100 TH/s at the end of January.

New website online: www.peta-mine.co

[dhenson]

Based on your previous announcement I had been under the impression that hosting costs were much lower than your spreadsheet implies.  You were previously quoting a maximum of $5000 USD.

Weekly hosting costs of 22 btc seems amazingly exessive.

[cryptx]

Based on your previous announcement I had been under the impression that hosting costs were much lower than your spreadsheet implies.  You were previously quoting a maximum of $5000 USD.

Weekly hosting costs of 22 btc seems amazingly exessive.

"The first deployment of 20 TH/s at the end of September has a monthly total cost, including electricity, maintenance and hosting, of maximum 5,000$"

This is a total different situation. We are talking about a much bigger hashrate here.

(It's also 22btc each 10 days)

[keemao]

What will be the total hashrate pr share?

[dhenson]

What will be the total hashrate pr share?

'Initially' 2.4GH/share, but that ramps up over time as 35% is diverted to buying additional hardware.

[altoidmintz]

Cryptx: I am very pleased with this deal you have landed us!

I do have one question. When will we see the December deployment? Do you expect for the dividends to begin December 6, the first Friday of December, January 3, the first Friday after the last day in December, or some other date?

[VonSpecht]

Is there an error on the section, that shows overall dividends during 2013, 900BTC in both cases??