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

[rdyoung]

Can anyone confirm the number of shares? also is anyone able to confirm the gh/s per share? according to the data sheet that was posted, it doesn't seem like ROI will happen based on 2447.260BTC/80675share = 0.0303348497 over a year and a half time. But someone forgot to account for the price drop of GH/S over time. if we were to jump on ship with AsicMiner and bulk oder their next gen products at .49-1$ per chip and then contract another company to produce the miner itself, we could come out ahead and make ROI within by july of next year. But i'm not sure what manufacturing units would bring the cost per chip up to.

But on the upside at least we're hashing, its just a matter of investing the right amount.  

I realy appreciate the effort of making (altering) a datasheet to come up with a ROI projection.

But i'm afraid these settings makes no sense at all. For instance just look at the difficulty levels  . They exceed a Terrawatt in power usage...or at 4 cents per kwh a total cost of 350,400,000,000 dollar per year. This means an electricity cost of about 425 times the anual total mining revenue (3600*365*625$)....

EDIT: never use a % in difficulty increase; it's just wrong in so many ways...(20.000.000 TH/s has to be fabricated in 10 days  )

Exactly
But spreadsheets like this are useful to those who expect to get a positive ROI with days/weeks. It reminds them that its not that easy.
If you go back and read what I wrote when I posted the spreadsheet. I am not sure exactly how to account for the difference in weekly dividends and 12 day adjustments, I could go daily, but that would make the spreadsheet huge.

I did this on this spreadsheet because to be honest yours was/is a bit out of whack as well.
There is no need to calculate your % of the total network or the growth of the network when you can calculate what you will be mining.
Yes, you are competing with the other miners but they have nothing to do with how fast you grow out your hardware.

[ujka]

I understand. You already said it's a worst worst case scenario.
And a nice exercise to strenghten sheet skills.

[BongaManollo]

@Cryptx, that's a tactic by rdyoung to get cheap shares.

It didn't work.

Seriously
You think I did this to push shares down? I did this to flex and strengthen my sheet skills, years ago I could program a spreadsheet with my eyes closed, but its been awhile and my skills are a bit rusty. Next time I will make it a private sheet so I can avoid this crap.

If you go back and look at other EPS estimates to get PE ratio, they are close to what I came up with.
And as I have said I don't have enough information to get more accurate.
When I have the time I will try and add a decrease in difficulty jumps over time as well as an increase in usd/BTC.
Looking as longterm as the sheet does, using an average increase of say 10% would provide a more accurate forecast.

NOTE: I never said this spreadsheet was accurate. What it does is help provide a window into what could be.
Instead of looking 1.5 years out, you can see what it will be like in a few months as the difficulty keeps increasing at the current rate.

Take it easy, forgot the smile, wasn't that serious

[cryptx]

I am not sure exactly how to account for the difference in weekly dividends and 12 day adjustments, I could go daily, but that would make the spreadsheet huge.

Just use the same timeframe for the dividend payouts and the difficulty increases. This paints the most clear and reliable picture.

I did this on this spreadsheet because to be honest yours was/is a bit out of whack as well.

In which sense? Difficulty is almost spot on.

There is no need to calculate your % of the total network or the growth of the network when you can calculate what you will be mining.

3 Things are essential to come up with a projection in share price: BTC/USD, hashrate per share and hashrate of the network. I have no clue what you mean.

[MPalokaj]

@Cryptx, that's a tactic by rdyoung to get cheap shares.

It didn't work.

Oh but it did, there is guillable people who sold @0.06 or so :p. Again, wish I had more coins lying around, panicking people are wonderful for buying prices.

[Elvis Trout]

@Cryptx, that's a tactic by rdyoung to get cheap shares.

It didn't work.

Seriously
You think I did this to push shares down? I did this to flex and strengthen my sheet skills, years ago I could program a spreadsheet with my eyes closed, but its been awhile and my skills are a bit rusty. Next time I will make it a private sheet so I can avoid this crap.

If you go back and look at other EPS estimates to get PE ratio, they are close to what I came up with.
And as I have said I don't have enough information to get more accurate.
When I have the time I will try and add a decrease in difficulty jumps over time as well as an increase in usd/BTC.
Looking as longterm as the sheet does, using an average increase of say 10% would provide a more accurate forecast.

NOTE: I never said this spreadsheet was accurate. What it does is help provide a window into what could be.
Instead of looking 1.5 years out, you can see what it will be like in a few months as the difficulty keeps increasing at the current rate.

I don't think you did that, and I found it very useful, so thanks.

[spartan82]

Guys why are you bothering with these calculations when we are hashing at under half a gh/share still at this date? It's nice to see that we are hashing with at least something but have I missed something here? Has anyone addressed the issue of compensation seeing that we are well past mid feb or are we just happy with what we get now?

[GT3000]

Guys why are you bothering with these calculations when we are hashing at under half a gh/share still at this date? It's nice to see that we are hashing with at least something but have I missed something here? Has anyone addressed the issue of compensation seeing that we are well past mid feb or are we just happy with what we get now?

We should give Cryptx an opportunity to round out the week before we start waving pitchforks and torches. They've been as transparent as humanly possible the entire time.

[currencydebt]

Guys why are you bothering with these calculations when we are hashing at under half a gh/share still at this date? It's nice to see that we are hashing with at least something but have I missed something here? Has anyone addressed the issue of compensation seeing that we are well past mid feb or are we just happy with what we get now?

The 20% insurance sure would improve the forecast

[XliptTit]

Guys why are you bothering with these calculations when we are hashing at under half a gh/share still at this date? It's nice to see that we are hashing with at least something but have I missed something here? Has anyone addressed the issue of compensation seeing that we are well past mid feb or are we just happy with what we get now?

The 20% insurance sure would improve the forecast

<3

[spartan82]

Guys why are you bothering with these calculations when we are hashing at under half a gh/share still at this date? It's nice to see that we are hashing with at least something but have I missed something here? Has anyone addressed the issue of compensation seeing that we are well past mid feb or are we just happy with what we get now?

We should give Cryptx an opportunity to round out the week before we start waving pitchforks and torches. They've been as transparent as humanly possible the entire time.

Just to clear the air here, in no way am I criticizing cryptx's efforts in this investment. All I am asking is just give a sign some reassurance that yes there will be a 20% increase as stated so we as investors may breath a slight sigh of relief. As other members of this forum have pointed out that the original agreement did not clearly state whether we will be compensated duly if we do not start hashing with the FULL 220TH/s or if we do not start hashing at all. Clearly we have started hashing but seeing that we did not start in full effect does this mean we will be compensated? There is a big question mark over this so me personally I would love to hear cryptx's point of view on this subject. Are we currently in negotiations with cointerra, will there be negotiations, are we letting this go? I'm sure you all know that every little bit counts now when it comes to mining bitcoins and timing is of great importance so forgive me for asking but I feel I am not jumping the gun here when I'm sure a lot of investors here would like to know what measures are being put in place for us to overcome this issue. 20% is in fact 20% after all and I, amongst others, will feel hard done by if we miss out on this compensation

[karol]

Guys,

Please remeber that we should already be talking how to invest 35% of our incomes?
We have some gears to got but what next? When we will be focused only on current situation we will miss the train to upgrade our mine.

[dhenson]

Guys,

Please remeber that we should already be talking how to invest 35% of our incomes?
We have some gears to got but what next? When we will be focused only on current situation we will miss the train to upgrade our mine.

Cryptx has the reinvestment handled. He even pre-purchases out of his own funds.  It isn't up to us as investors to make those sorts of decisions.

[karol]

Guys,

Please remeber that we should already be talking how to invest 35% of our incomes?
We have some gears to got but what next? When we will be focused only on current situation we will miss the train to upgrade our mine.

Cryptx has the reinvestment handled. He even pre-purchases out of his own funds.  It isn't up to us as investors to make those sorts of decisions.

You are right it isn't up to as be we should now what is going next.
From where do You have knowledg that something is pre-purchased? What I can found is:


•   CryptX has a contract with Cointerra to deliver 60 TH/s of their devices of batch 1 (December Batch).  - delivered partially - now hashing at 18
•   CryptX has also a contract with Bitmine to deliver up to 180 TH/s of their devices of batch 1 early January. - still waiting for this order
•   CryptX has a second contract with Bitmine to deliver up to 100 TH/s of their devices for reinvestment purposes at the end of January. - still waiting for this order, will this arrive with 180th at the same time?


And lastest informations:

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.

So there is not any information about new gear only that they are talking about possibility to use A1 chips. Nothing about purchased something.

[ujka]

Guys why are you bothering with these calculations when we are hashing at under half a gh/share still at this date? It's nice to see that we are hashing with at least something but have I missed something here? Has anyone addressed the issue of compensation seeing that we are well past mid feb or are we just happy with what we get now?

We should give Cryptx an opportunity to round out the week before we start waving pitchforks and torches. They've been as transparent as humanly possible the entire time.

Just to clear the air here, in no way am I criticizing cryptx's efforts in this investment. All I am asking is just give a sign some reassurance that yes there will be a 20% increase...

You need to check petamine website for that: start of deployment was before mid feb - no 20% free increase. Sry to disappoint with this info. 
Every increase over 2.88 will have to be with reinvestment. CryptX must have emptied his own wallet for this project.

[spartan82]

Guys why are you bothering with these calculations when we are hashing at under half a gh/share still at this date? It's nice to see that we are hashing with at least something but have I missed something here? Has anyone addressed the issue of compensation seeing that we are well past mid feb or are we just happy with what we get now?

We should give Cryptx an opportunity to round out the week before we start waving pitchforks and torches. They've been as transparent as humanly possible the entire time.

Just to clear the air here, in no way am I criticizing cryptx's efforts in this investment. All I am asking is just give a sign some reassurance that yes there will be a 20% increase...

You need to check petamine website for that: start of deployment was before mid feb - no 20% free increase. Sry to disappoint with this info. 
Every increase over 2.88 will have to be with reinvestment. CryptX must have emptied his own wallet for this project.

lol sorry but that is a fucking joke. they should be sueing cointerra over this.

[ujka]

@karol
Pre-purchased is part of first batch and that second batch of gear from bitmine. That with CryptXs own money (remember, not all 100000 shares are sold, yet there is 240th +100th of hardware purchased). Part of that was for january 20% free increase, part is for future reinvestments.

[ujka]

Guys why are you bothering with these calculations when we are hashing at under half a gh/share still at this date? It's nice to see that we are hashing with at least something but have I missed something here? Has anyone addressed the issue of compensation seeing that we are well past mid feb or are we just happy with what we get now?

We should give Cryptx an opportunity to round out the week before we start waving pitchforks and torches. They've been as transparent as humanly possible the entire time.

Just to clear the air here, in no way am I criticizing cryptx's efforts in this investment. All I am asking is just give a sign some reassurance that yes there will be a 20% increase...

You need to check petamine website for that: start of deployment was before mid feb - no 20% free increase. Sry to disappoint with this info. 
Every increase over 2.88 will have to be with reinvestment. CryptX must have emptied his own wallet for this project.

lol sorry but that is a fucking joke. they should be sueing cointerra over this.

Agree. This deliveries from cointerra are ridiculous, two months late and now only 'drop by drop'. (i mean only few machines per day)

[qwertyqwerty]

Contract clearly was made for devices to be delivered in December. A significant premium was paid for this. It was not delivered. January, and then mid February came before any news of shipments. End users had notified that they had received orders placed In January (At a greatly discounted rate) prior to CryptX operation starting with Cointerra. Again, such a thing is clear breach of contractual obligation by Cointerra.

http://www.theregister.co.uk/2014/02/03/cointerra_ships_bitcoin_miners/

Everyone who received a late "Batch One" machine will get another box (expected to be fully specced) free of charge, says the company.

I had contacted the company to confirm this statement, as I have also ordered a batch one machine outside of this operation. I have confirmed every client (regardless of order size) who placed a DEC batch order will be receiving replacement hardware amounting to additional 100% of the original order within the period of march as compensation, and this is as directly advised by their legal partners. Orders placed for shipment in Months of Jan, Feb will receive a store coupon.

[MonkeyBear68]

Contract clearly was made for devices to be delivered in December. A significant premium was paid for this. It was not delivered. January, and then mid February came before any news of shipments. End users had notified that they had received orders placed In January (At a greatly discounted rate) prior to CryptX operation starting with Cointerra. Again, such a thing is clear breach of contractual obligation by Cointerra.

http://www.theregister.co.uk/2014/02/03/cointerra_ships_bitcoin_miners/

Everyone who received a late "Batch One" machine will get another box (expected to be fully specced) free of charge, says the company.

I had contacted the company to confirm this statement, as I have also ordered a batch one machine outside of this operation. I have confirmed every client (regardless of order size) who placed a DEC batch order will be receiving replacement hardware amounting to additional 100% of the original order within the period of March as compensation, and this is as directly advised by their legal partners.

As shareholders it does not appear that we will be getting that extra 100% (from Dec batch being late) applied toward our mining rate. Plus there is the double whammy of missing a 20% increase because a small fraction of mining began one day before mid-Feb.

Since the mine is operational does that mean each share will receive a dividend based on 2.88 Gh/sec of hash power this Friday?