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

[michaelGedi]

sooo, this 210 we were just talking about?

[stompysteve]

anddddddd its gone

[BiteMyShinyMetalAss]

Well, there still is one TH/s on Eligius...

[trek27]

sooo, this 210 we were just talking about?

"Gone With The Wind"

[anon29426]

sooo, this 210 we were just talking about?

"Gone With The Wind"

well, at least this new stats system will make guessing dividends a little bit more interesting

i question whether the extra 30 TH/s was CryptX's private machines from this project, probably not, probably just the stats system playing up

on the plus side, trying not to feel too negative, the added merged mining should be good

[BiteMyShinyMetalAss]

Updates going to be exiting. Even the thought of being updated gives me a boner! Yeah! Update us Cryptx! Update us hard!

[cryptx]

Dividend:

102.13891005 BTC in total from mining:
- 48.55633648 as Dividend (0.00060188 BTC / share)
- 26.14571964 Reinvestment (brings total to 29.77911302 BTC)
- 27.43685393 Hosting Fee

Status update:

- We visited Bitmine last Monday and had a conversation about the ongoing delays. Production remains an issue as they suffer a lot of delays from their manufacturer(s), components that get stuck in customs, etc. It is clear to us that however hard they try and with all good intentions, things will take some time before they really get up to speed. We follow up on their progress each day.
- Hardware from reinvestment should arrive by Monday or Tuesday which is currently on its way from Hong Kong.
- We switched mining from Eligius to Ghash.io, this should allow more frequent payouts and additional mining of altcoins (NMC, DVC, IXC). New stats are available here: http://www.peta-mine.co/stats/ . Note that stats are still in Beta
- Last but not least, we will start with the production of our own systems within the coming weeks. We have two working designs and are preparing for full-scale manufacturing and assembly.

[anon29426]

Status update:

- We visited Bitmine last Monday and had a conversation about the ongoing delays. Production remains an issue as they suffer a lot of delays from their manufacturer(s), components that get stuck in customs, etc. It is clear to us that however hard they try and with all good intentions, things will take some time before they really get up to speed. We follow up on their progress each day.

meaning they sweet talked you again and everything is back to where we were. we have received only 20 maybe 30 units from them in the last 10 days even after we were told delivery was ramping up. they are completely incompetent and we are relying solely on them, great. were just as fucked as all there other customers are. and no offense, but who gives a fuck about there intentions? they are either capable of delivering or not, and they are clearly not. they are absolute amateurs. if you have a CPP with them activate it and get the machines elsewhere, otherwise week in and week out they are just gonna feed you BS

- Hardware from reinvestment should arrive by Monday or Tuesday which is currently on its way from Hong Kong.

not news

- We switched mining from Eligius to Ghash.io, this should allow more frequent payouts and additional mining of altcoins (NMC, DVC, IXC). New stats are available here: http://www.peta-mine.co/stats/ . Note that stats are still in Beta

good news

- Last but not least, we will start with the production of our own systems within the coming weeks. We have two working designs and are preparing for full-scale manufacturing and assembly.

"coming weeks" - meaning june if we are lucky.

on another note, we haven't even kept up with the difficulty over the past two weeks which is a joke considering we're still miles away from where we're supposed to be, and still with major issues from pretty much our only supplier, who don't seem to be fixing anything on there end. i see us getting completely pushed out of the market in the coming weeks as the difficulty starts to ramp up, we are so lucky that its been low the last couple of weeks, if it wasn't, then we would have already been pushed out.

[dhenson]

Thank you Cryptx for the update.

Dividends will automatically appear in shareholders’ Bitcoin wallets every Friday around 15:00 GMT.  Dividends will consist of 65% of PETA-MINE net revenue for the week. Net revenue is defined as the total sum of Bitcoins mined, transaction fees received  and net revenue from hardware sold, minus electricity, hosting, and mine maintenance costs.

This issue hasn't been raised before as we've not previously been producing our own hardware, but am I correct to assume that any profit from hardware produced that doesn't go into reinvestment of the mine will be paid in dividends?

If my memory serves, your previous bitfury sales business wasn't part of the mine profits.  I'm just trying to figure out how to value this asset and need to know what hardware sales you are referring to.

[ujka]

Thanks for update. An update every friday works fine for me (even if I check here daily

Still, some good points, anon29426. 'Delivery ramping up' is really sweet talk - they at bitmine are still not sure when the production of rigs will even start! And that 'coming weeks' timeline is very vague.

If we look at the coins minted, PETA did manage to keep with diff last week(s), it's that btc price drop lowered our divs.

[anon29426]

Thanks for update. An update every friday works fine for me (even if I check here daily

Still, some good points, anon29426. 'Delivery ramping up' is really sweet talk - they at bitmine are still not sure when the production of rigs will even start! And that 'coming weeks' timeline is very vague.

If we look at the coins minted, PETA did manage to keep with diff last week(s), it's that btc price drop lowered our divs.

well, the major consensus is btc is probably going to stay in the 400-500 range for a while. so basically were fucked. increasing hosting costs as new machines are added, but the new machines are coming in at such a slow rate that the hosting cost aswell as the difficulty increase is going to kill us. tell me im wrong? please. im tired of following this bullshit blindly.

this prob isn't cryptX's fault, they seem professional. but bitmine are an absolute joke, and our entire business is relying on them most likely for the next couple of months.

we are so lucky the difficulty has slowed, but its starting to ramp up now.

im jumping ship as soon as i can get on my laptop

this project might be going somewhere in a few months when we actually start producing our own hardware, but its not going anywhere in the near future but downhill

please, someone, tell me im wrong. the signs are on the wall as clear as day

[ujka]

Thanks for update. An update every friday works fine for me (even if I check here daily

Still, some good points, anon29426. 'Delivery ramping up' is really sweet talk - they at bitmine are still not sure when the production of rigs will even start! And that 'coming weeks' timeline is very vague.

If we look at the coins minted, PETA did manage to keep with diff last week(s), it's that btc price drop lowered our divs.

well, the major consensus is btc is probably going to stay in the 400-500 range for a while. so basically were fucked. increasing hosting costs as new machines are added, but the new machines are coming in at such a slow rate that the hosting cost aswell as the difficulty increase is going to kill us. tell me im wrong? please. im tired of following this bullshit blindly.

You're right -bitmine 'sweet talking' and such a slow rate of new hardware coming are going to kill us. Own systems can help, but if done faster than 'coming weeks'.

[ujka]

'Revenue from hardware sales' - IMHO, that's revenue from selling hardware used in the mine, not new hardware they are assembling outside of PETA project.
This is from FAQ on PETA website:

All hardware of the PETA-MINE will be owned by the shareholders. When necessary we will replace our mining blades by more efficient ones. The net revenue of these sales will also be distributed to the shareholders.

[Elvis Trout]

Great update!

Shame about Bitmine, but at this stage it is expected, they suck, they aren't going to magically get better. Would be nice to know what compensation we're getting for breach of contract though.

Great news about new hardware arriving!

I like the new pool, shame cex is a stupid company, but it will be better for us.

Lastly excellent to hear about the PCBs. Sure coming weeks could mean a long time but at least progress is being made. I guess with 2 working designs you can build both and test to see what's better?

[ujka]

CryptX said they have two 'working designs'. That would mean that design part is done and tested. Next is manufacturing PCBs and assembly. And there we again depend on PCB manufacturer timeline slots.

[BiteMyShinyMetalAss]

Good news! Even with a price low, i am happy to stay, its just an amazing opportunity to top up for me. We will eventually reach those 1-2% of the total network. With custom boards, coming weeks, not months. So the beginning of May, thats pretty sweet. So I guess, the  next reinvestment will go to the custom boards...?

[tgdollaz]

And we have officially dropped below the IPO price to 0.48 btc per share.

Way to go CryptX! I didn't think it was possible to fubar up an operation like this while lining your pockets at your shareholders expense. I'm out, good luck to the rest of you.

[babcoccl]

Thanks for the update Cryptx. It's crappy about Bitmine but what can you do? You've delivered steady dividends so far and I'm confident that you guys are trying your hardest to rectify this difficult situation. Thanks for your efforts!

[ujka]

Thanks for the update Cryptx. It's crappy about Bitmine but what can you do? You've delivered steady dividends so far and I'm confident that you guys are trying your hardest to rectify this difficult situation. Thanks for your efforts!

+1

[Anotheranonlol]

The order books are pretty thin. If someone wants to sell bulk shares, via havelock transfer you are welcome to contact to arrange a deal.