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

[nwfella]

Yaaay CryptX!!  Congrat's on breaking the 100TH barrier!!

[rdyoung]

I love how pretty much all share movement stops as soon as eliguis goes down lol, is there any other way we can monitor their hashrate?

No need, just monitor the payout address. If you have mycelium you can add it as a watch only address.

[jessebtc]

Designing a PCB is not the hard thing. Designing a chip is. Also they are designing a PCB.. with whose money exactly? The IPO doesn't mention cost for designing PCB's.

I just wanted to point out that this statement is a big oversimplification.  A chip design and a pcb design are completely separate beasts.  I have done freelance electronics design (pcb) for 10 years, and I can say with some certainty the dc/dc to generate 1V at 100amps range (and there are likely to be several similar for different rails) to power a ~250W ASIC is not easy in a number of ways.  There is a whole mini-industry of chips and designs to handle this difficult problem.  A small loss of efficiency could be the difference between a viable and not overall design - it could function just fine, but creates too much heat/uses too much power/etc.
For an example of this look at cointerra's blog.
Cryptx says they are doing 3 pcb designs in parallel and WOW how fortunate that they have the resources to do it this way - the best possible way when time is of the essence.  Since there is obviously no time for a pcb respin once the ASICs arrive, the which-design-is-best contest has to be completed beforehand.

On a different topic, if cryptx asked to change the reinvestment ratio from the 65/35 to 60/40 or 55/45 or 50/50, I'd likely vote yes.  I see the inevitable future to be a small number of large mining operations, and if by doing a larger reinvest petamine can climb to being one of those, all the better for the shareholders in long run.  All else equal (ha there's a broad statement) if cryptx reinvests a larger % than the difficulty rise, petamine will have a seat at the grownups table.  By having enough $ to be a lead investor/customer for each next generation round of ASICs petamine can stay ahead of all the others buying the same chips.

Thoughts?
Jesse

[stompysteve]

I love how pretty much all share movement stops as soon as eliguis goes down lol, is there any other way we can monitor their hashrate?

No need, just monitor the payout address. If you have mycelium you can add it as a watch only address.

I meant share price doesnt move when eliguis stats (hash rate) goes down

people were buying up all day until stats went down same as yesterday when it went offline

[rdyoung]

Designing a PCB is not the hard thing. Designing a chip is. Also they are designing a PCB.. with whose money exactly? The IPO doesn't mention cost for designing PCB's.

On a different topic, if cryptx asked to change the reinvestment ratio from the 65/35 to 60/40 or 55/45 or 50/50, I'd likely vote yes.  I see the inevitable future to be a small number of large mining operations, and if by doing a larger reinvest petamine can climb to being one of those, all the better for the shareholders in long run.  All else equal (ha there's a broad statement) if cryptx reinvests a larger % than the difficulty rise, petamine will have a seat at the grownups table.  By having enough $ to be a lead investor/customer for each next generation round of ASICs petamine can stay ahead of all the others buying the same chips.

Thoughts?
Jesse

I would be all for this.
I had another thought as well. Perhaps cryptx could partner with someone working on 22/20nm or even work towards 14nm so that when its ready for primetime we get it first. Of course first priority is getting the mine fully deployed and 28nm will be profitable for quite sometime, but getting ahead of the curve would be worth it long term.

[Elvis Trout]

Designing a PCB is not the hard thing. Designing a chip is. Also they are designing a PCB.. with whose money exactly? The IPO doesn't mention cost for designing PCB's.

On a different topic, if cryptx asked to change the reinvestment ratio from the 65/35 to 60/40 or 55/45 or 50/50, I'd likely vote yes.  I see the inevitable future to be a small number of large mining operations, and if by doing a larger reinvest petamine can climb to being one of those, all the better for the shareholders in long run.  All else equal (ha there's a broad statement) if cryptx reinvests a larger % than the difficulty rise, petamine will have a seat at the grownups table.  By having enough $ to be a lead investor/customer for each next generation round of ASICs petamine can stay ahead of all the others buying the same chips.

Thoughts?
Jesse

I would be all for this.
I had another thought as well. Perhaps cryptx could partner with someone working on 22/20nm or even work towards 14nm so that when its ready for primetime we get it first. Of course first priority is getting the mine fully deployed and 28nm will be profitable for quite sometime, but getting ahead of the curve would be worth it long term.

I suggested this back during the IPO, I don't think 35% is enough, and I would rather see this project go long term than get slightly more dividends now.

Secondly all the troll calling is annoying. It's good that people are questioning the business model, there's no need to be sanctimonious about it. Don't be so precious guys, Cryptx is doing a great job, but people should be allowed to question whatever they want, money is at stake here.

[Stego]

I also agree, we should reinvest a bit more (up to 50/50 imo).
Could cryptx set a vote or something ?

[trek27]

On a different topic, if cryptx asked to change the reinvestment ratio from the 65/35 to 60/40 or 55/45 or 50/50, I'd likely vote yes.  I see the inevitable future to be a small number of large mining operations, and if by doing a larger reinvest petamine can climb to being one of those, all the better for the shareholders in long run.  All else equal (ha there's a broad statement) if cryptx reinvests a larger % than the difficulty rise, petamine will have a seat at the grownups table.  By having enough $ to be a lead investor/customer for each next generation round of ASICs petamine can stay ahead of all the others buying the same chips.

Thoughts?
Jesse

A lot depends on cost efficiency of proposed mining solutions. We should wait and see ... and then if raising reinvestment ratio could give us additional boost then it could be worth the effort.   

[mikemikemike]

CryptX, any chance we can delay the dividend until we have the next payout from eligius? seems a little silly to crash the dividend at such an early stage just because of our place in the payout queue

[trek27]

I had another thought as well. Perhaps cryptx could partner with someone working on 22/20nm or even work towards 14nm so that when its ready for primetime we get it first. Of course first priority is getting the mine fully deployed and 28nm will be profitable for quite sometime, but getting ahead of the curve would be worth it long term.

Surely, A1 wont last forever.
Personally, as for today, I have no conviction which way will be the winning bet in the more distant future.

[Stego]

CryptX, any chance we can delay the dividend until we have the next payout from eligius? seems a little silly to crash the dividend at such an early stage just because of our place in the payout queue

Well, it does not change much if we got more next week.

[mikemikemike]

CryptX, any chance we can delay the dividend until we have the next payout from eligius? seems a little silly to crash the dividend at such an early stage just because of our place in the payout queue

Well, it does not change much if we got more next week.

i agree, but i would rather a more even distribution of dividends over the first few weeks until we are really pumping the BTC out. but yeah, this isn't anything i feel strongly about, i just think decreasing dividends this early will scare off the less knowledgeable investors

[Foebar]

I also agree, we should reinvest a bit more (up to 50/50 imo).
Could cryptx set a vote or something ?

I would only agree if the hardware could be bought and delivered quickly by the supplier.
No need to increase the reinvest and lock that funding into hardware that can't be delivered to keep up with the pace.

[EdoBcn]

Dividend lotto time!

http://eligius.st/~wizkid057/newstats/userstats.php/1PETAmNrgdzx3FwzJPNuhx18JVKdGtwWt6
30.05142861 to be paid
+
https://blockchain.info/address/1PETAmNrgdzx3FwzJPNuhx18JVKdGtwWt6
40.54245172 already there

= 70.59388033 btc
Hosting + costs, I would estimate 7.5/8 btc

= 62.5btc * 65% = 40.625 net for dividends
/80674 shares = 0.000504 per share.

Current value on Havelock:
0.07890000 per share
0.64% in 1 week

(Am I doing it wrong?)

[ujka]

CryptX, any chance we can delay the dividend until we have the next payout from eligius? seems a little silly to crash the dividend at such an early stage just because of our place in the payout queue

They can pay out the dividend with mined btc, and delay the reinvestment part and hosting until next payout from eligius. I think they did that last week.

Eligius stats server had some trouble this week - someone hacked in and changed nmc mining address for all users.

[qwertyqwerty]

0.64% in 1 week

(Am I doing it wrong?)

AM yearly yield based on last div: 0.68%
PM weekly yield based on next div: 0.64%

only in bitcoinland 

hashrate document with updates on deployment is nice, even better to have real time status. But you don't seem receptive to it. I do wonder about why hashrate goes down to 0 and up however, and also diff now is not 1919 but 2673?- these can make big difference to dividends

question for you
1) are board seats offered?


Hashrate = 0 because of technical problem + reorganisation
Difficulty = 267,730,000 (1919TH/s) until next change so mining income is calculated using current difficulty (1919)

1) We will look into this

Any update on board seats?

advantages are that large shareholders, and those bordering on owning enough shares would be encouraged to achieve/maintain a position, so for instance if you require 2500 shares to become a board-member, and 10 people are board members you have 25,000 shares which are further incentivized to remain static and holding long term rather than selling off. wouldn't necessarily have to be privy to any extra special info that normal shareholders are not, it's a title just as much as anything, similar to any company which offer investor relations portal, and of course they like to look after largest clients who hold big %'s

[altoidmintz]

All else equal (ha there's a broad statement) if cryptx reinvests a larger % than the difficulty rise, petamine will have a seat at the grownups table.  By having enough $ to be a lead investor/customer for each next generation round of ASICs petamine can stay ahead of all the others buying the same chips.

+2

[karol]

All else equal (ha there's a broad statement) if cryptx reinvests a larger % than the difficulty rise, petamine will have a seat at the grownups table.  By having enough $ to be a lead investor/customer for each next generation round of ASICs petamine can stay ahead of all the others buying the same chips.

+2

+3

[trek27]

I also agree, we should reinvest a bit more (up to 50/50 imo).
Could cryptx set a vote or something ?

I would only agree if the hardware could be bought and delivered quickly by the supplier.
No need to increase the reinvest and lock that funding into hardware that can't be delivered to keep up with the pace.

+1
... and cost efficiently

[ujka]

Dividend paid 
0.00050213 btc/share