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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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mikemikemike
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February 12, 2014, 11:19:04 AM |
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Name: cryptx
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Date Registered: August 03, 2013, 09:29:56 AM
Last Active: Today at 11:10:09 AM
CryptX, if you're viewing this thread, why are you not updating your investors to alleviate their fears?
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michaelGedi
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"to be or not to be, that is the bitcoin"
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February 12, 2014, 11:23:45 AM |
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Name: cryptx
Posts: 351
Activity: 182
Position: Full Member
Date Registered: August 03, 2013, 09:29:56 AM
Last Active: Today at 11:10:09 AM
CryptX, if you're viewing this thread, why are you not updating your investors to alleviate their fears?
do you think "still waiting" is something that will alleviate our fears? often people (I know I for one) prefer to finally make communication with something positive if there has been a period of silence. e.g. "sorry I haven't got back to you recently, but, guess what, good news!" just a thought... I'd prefer waiting to hear good news, than hearing another "still waiting" update, but that's just me... |
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yelloyello
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February 12, 2014, 11:26:02 AM |
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I don't know. The site tells:"no dividend has payed"
Also paying more than 7 or 8 dollar/GH/s is not wise. Then it will take 10 weeks to ROI. And after that 10 weeks your GH/s worth maybe 4-5 dollar.
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mikemikemike
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February 12, 2014, 11:26:22 AM |
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Name: cryptx
Posts: 351
Activity: 182
Position: Full Member
Date Registered: August 03, 2013, 09:29:56 AM
Last Active: Today at 11:10:09 AM
CryptX, if you're viewing this thread, why are you not updating your investors to alleviate their fears?
do you think "still waiting" is something that will alleviate our fears? often people (I know I for one) prefer to finally make communication with something positive if there has been a period of silence. e.g. "sorry I haven't got back to you recently, but, guess what, good news!" just a thought... I'd prefer waiting to hear good news, than hearing another "still waiting" update, but that's just me... It's where we disagree. Even if its just "still waiting", at-least its some contact. This isn't as much me worrying about us not delivering on time, its me worrying about funding a company that isn't communicating anything with its investors. We are shareholders in this company, and should be treated as such. |
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ujka
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February 12, 2014, 11:52:48 AM |
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mikemikemike
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February 12, 2014, 12:02:00 PM |
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big companies have phone numbers, they have websites that are continuously updated, they have people you can put behind the company, they are also not working in a landscape where half of the other companies are running away with peoples money or completely failing to deliver. This is a terrible comparison. |
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VonSpecht
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February 12, 2014, 01:39:08 PM
Last edit: February 12, 2014, 01:57:37 PM by VonSpecht |
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rdyoung
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February 12, 2014, 05:37:21 PM |
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big companies have phone numbers, they have websites that are continuously updated, they have people you can put behind the company, they are also not working in a landscape where half of the other companies are running away with peoples money or completely failing to deliver. This is a terrible comparison. /devilsadvocate=on Do you have the direct line to the ceo of target, walmart, etc? Link me to the website where the boards from any fortune 500 company keep the world updated on what they are investing in, what companies they are working with or buying out. When a company like google buys a startup the world doesn't hear about till the ink is dry, they don't make a habit of advertising their deals. On the same note samsung, lg, sony, apple, etc do their best to keep new products under the radar until they are released. Yes, with the internet there is a culture of rumors and leaks, but thats not usually at the behest of the company. Apparently the main point of that quoted post was missed. The average person who goes online and purchases stock for a company gets no special treatment nor access. If you had the BTC to purchase 500+ shares of petamine it would have been in your best interest and due diligence to contact them directly before investing. Startups who are legit and want to make it will usually give special access to large investors. If you didn't do your due diligence and just dropped a large amount of money that you can't afford to lose on a company, you need to stop bitching about the fact that you can't contact them. /devilsadvocate=off |
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ujka
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February 12, 2014, 05:58:53 PM |
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Anotheranonlol
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February 12, 2014, 06:20:15 PM
Last edit: February 12, 2014, 06:36:50 PM by Anotheranonlol |
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big companies have phone numbers, they have websites that are continuously updated, they have people you can put behind the company, they are also not working in a landscape where half of the other companies are running away with peoples money or completely failing to deliver. This is a terrible comparison. /devilsadvocate=on Do you have the direct line to the ceo of target, walmart, etc? Link me to the website where the boards from any fortune 500 company keep the world updated on what they are investing in, what companies they are working with or buying out. When a company like google buys a startup the world doesn't hear about till the ink is dry, they don't make a habit of advertising their deals. On the same note samsung, lg, sony, apple, etc do their best to keep new products under the radar until they are released. Yes, with the internet there is a culture of rumors and leaks, but thats not usually at the behest of the company. Apparently the main point of that quoted post was missed. The average person who goes online and purchases stock for a company gets no special treatment nor access. If you had the BTC to purchase 500+ shares of petamine it would have been in your best interest and due diligence to contact them directly before investing. Startups who are legit and want to make it will usually give special access to large investors. If you didn't do your due diligence and just dropped a large amount of money that you can't afford to lose on a company, you need to stop bitching about the fact that you can't contact them. /devilsadvocate=off most company, small or large offer as minimum investor relations portal. btw I think to compare such a company with apple or walmart is disingenous but i get your point. Prior to IPO any issuer is always more receptive to potential investors concerns. only after money is already in pocket do you start to see true nature and a more realistic picture when communication drops off. it's well documented behavior in bitcoinland You have to remember, unless cryptx buy outstanding IPO wall shareholders ARE the majority owners of the company here. cryptx make their bread with their relationship with cointerra as angels themself, as well skimming extra $/gh markup from retail orders ( let alone bulk buys) from suppliers, then passing to investors as convenience charge for hosted operation. this is *on top* of charging a secondary maintenence fee. which is the real hosted convenience cost. This is very much unlike AM who owns large portion of their own shares. and hence percentage ownership . Something as simple as shareholder meeting every so often, just like friedcat provide to boardseat owners is not really too much to ask I think. even small things like talk of merged mining or pointing percentage of hashrate to altcoin which can bring 2x return is not something that should be ignored because it's pouring money down the drain. there are multiple people who invest equivalent to hundreds of thousands of dollars into this venture, there is totally no reason anybody should be at a net loss of any sort at end of operation. Cointerra hardware is in the wild. at least 5 confirmed owners hashing for more than 24 hours. Bitmine coming on strongly too, with cryptx mentioning local pickup let's see what the latest developments here are, fingers crossed finally we can start something |
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ujka
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February 12, 2014, 06:35:04 PM |
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Just a little correction, shareholders are not the owners of the company here. Shares are for the profit of the petamine project.
Anyway, I agree that communication on Cryptx part needs improving, especially on questions like merged mining.
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Anotheranonlol
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February 12, 2014, 06:37:52 PM |
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Just a little correction, shareholders are not the owners of the company here. Shares are for the profit of petamine project.
not cryptx. but they are owners of petamine operation, no shares are privately withheld |
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rdyoung
Legendary
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Activity: 994
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February 12, 2014, 07:24:01 PM |
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big companies have phone numbers, they have websites that are continuously updated, they have people you can put behind the company, they are also not working in a landscape where half of the other companies are running away with peoples money or completely failing to deliver. This is a terrible comparison. /devilsadvocate=on Do you have the direct line to the ceo of target, walmart, etc? Link me to the website where the boards from any fortune 500 company keep the world updated on what they are investing in, what companies they are working with or buying out. When a company like google buys a startup the world doesn't hear about till the ink is dry, they don't make a habit of advertising their deals. On the same note samsung, lg, sony, apple, etc do their best to keep new products under the radar until they are released. Yes, with the internet there is a culture of rumors and leaks, but thats not usually at the behest of the company. Apparently the main point of that quoted post was missed. The average person who goes online and purchases stock for a company gets no special treatment nor access. If you had the BTC to purchase 500+ shares of petamine it would have been in your best interest and due diligence to contact them directly before investing. Startups who are legit and want to make it will usually give special access to large investors. If you didn't do your due diligence and just dropped a large amount of money that you can't afford to lose on a company, you need to stop bitching about the fact that you can't contact them. /devilsadvocate=off most company, small or large offer as minimum investor relations portal. btw I think to compare such a company with apple or walmart is disingenous but i get your point. Prior to IPO any issuer is always more receptive to potential investors concerns. only after money is already in pocket do you start to see true nature and a more realistic picture when communication drops off. it's well documented behavior in bitcoinland You have to remember, unless cryptx buy outstanding IPO wall shareholders ARE the majority owners of the company here. cryptx make their bread with their relationship with cointerra as angels themself, as well skimming extra $/gh markup from retail orders ( let alone bulk buys) from suppliers, then passing to investors as convenience charge for hosted operation. this is *on top* of charging a secondary maintenence fee. which is the real hosted convenience cost. This is very much unlike AM who owns large portion of their own shares. and hence percentage ownership . Something as simple as shareholder meeting every so often, just like friedcat provide to boardseat owners is not really too much to ask I think. even small things like talk of merged mining or pointing percentage of hashrate to altcoin which can bring 2x return is not something that should be ignored because it's pouring money down the drain. there are multiple people who invest equivalent to hundreds of thousands of dollars into this venture, there is totally no reason anybody should be at a net loss of any sort at end of operation. Cointerra hardware is in the wild. at least 5 confirmed owners hashing for more than 24 hours. Bitmine coming on strongly too, with cryptx mentioning local pickup let's see what the latest developments here are, fingers crossed finally we can start something All true. I am glad to see someone got my point. With the advent of the net its a whole new world when it comes to investing. Years ago I dabbled in the e-gold games thing, I knew what it was at the time, a risky adventure at best, but mostly a zero sum game. BTC is different. Of course we have already seen many scammers come and go with more on the horizon. I am not sure what kind of DD cryptostocks does, I don't think they do much. I do believe and please correct me if I am wrong that havelock does DD and vets each listing before its approved. Combine this with petas previous history of paying out a large sum in dividends when it was on crypto and you get IMO a company that is more likely legit than a scam. I still agree with previous posts stating that there is no need for them to pop in and post "still no news" or "still awaiting delivery". I would rather they focus on the work they have stated they are doing, IE pcbs and software for A1 deployment, readying the datacenter for expansion so its ready to go when the reinvestment hardware starts rolling in, rather than waiting until the hardware is on its way or there to start prepping. I invested in peta when it hit havelock, of course this was after reading the forum here, their website, etc and deciding that even though they hadn't deployed yet it was worth investing in. |
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rdyoung
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February 12, 2014, 07:41:11 PM
Last edit: February 12, 2014, 08:57:50 PM by rdyoung |
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I don't know. The site tells:"no dividend has payed"
Also paying more than 7 or 8 dollar/GH/s is not wise. Then it will take 10 weeks to ROI. And after that 10 weeks your GH/s worth maybe 4-5 dollar.
Mining has NOT started yet, therefore no dividends can be paid. They are waiting for hardware from cointerra and bitmine. First off, they paid 7-8$/ghs for the first round of hardware because thats the best cost they could get at the time. The hardware purchased with reinvested earnings will be much lower, likely around 4$/ghs and more than likely dropping over time. Second, this is the problem with people investing in BTC mining, they expect to ROI in days or weeks. There are very few businesses in the real world that ROI that quickly. If you purchase or start a restaurant or other business, your positive ROI time is measured in years, not days or weeks. Keep in mind that they are reinvesting 35% of the revenue, so over time our GHS/btc/usd will rise. Not accounting for the reinvestment hardware, nor the overhead costs, 8$/ghs at an average difficulty increase of 15% every 12 days will give a positive ROI in approximately 250 days. To calculate this I used 100ghs as a base and did the math on 65ghs, IE 65% of the revenue. I also used 750$ as the BTC/USD exchange rate. Investing in mining has to be seen as a long term investment, if its not you will be sorely disappointed very quickly. |
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mmitech
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things you own end up owning you
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February 12, 2014, 09:53:45 PM |
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Cointerra is already shipping and people are receiving devices, Bitmine just demonstrated their desk and they said they will start shipping in quantity this week, now all we need is an update from CryptX if they have any information about when they will get their hardware and an ETA about when the operation will start...
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spartan82
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February 12, 2014, 10:46:39 PM |
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so a couple more days and we see a 20% hashrate increase. lets see how long after that we actually start mining
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Wayne_Chang
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February 13, 2014, 02:08:13 AM |
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Now is a very critical timing. CryptX should update the mining deployment progress more frequently. By contrast, when the mining is working smoothly, even no update for months, I believe no shareholders would have concerns.
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Anotheranonlol
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February 13, 2014, 02:33:00 AM |
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Now is a very critical timing. CryptX should update the mining deployment progress more frequently. By contrast, when the mining is working smoothly, even no update for months, I believe no shareholders would have concerns.
yes, you are right. hopefully they are making final preperation steps in background Current status of PETA-MINE project: - Both CoinTerra and Bitmine enter production stage. Although this is good news, we still don’t have an exact shipping date for the delivery of our miners. We have been in close contact with both companies and estimates are that we should begin receiving our first units in the 2nd week of February (but this still remains an estimate).
- We are also in talk with several PCB and software engineers to develop our own mining board based on Bitmine’s A1 chip. This to increase our flexibility to deploy new systems and focus on criteria that are important for the growth of PETA-MINE like cost per unit, energy consumption, scalability, heat dissipation etc.
Our primary goal goes to getting the miners as soon as possible and start the deployment / mining of PETA-MINE. Schedule appears to be right on track. using own mining board assembly is potentially very important. good to see bitmine have taken this into acoconut. 3rd party manafacturer have squeezed 2x hashrate (demonstrated) out of Bitmine A1 chip compared to retail units shipped directly., this is game changing improvement in operation of this scale. especially for re-investment purpose. |
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trek27
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February 13, 2014, 09:03:50 AM |
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CryptX's expertise to manage the farm and ability to strike good deals for new hardware are essential.
Next several months should show how we really stand.
By the way I think an update could arrive around February 15.
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