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

[Elvis Trout]

In order for businesses to thrive they need to advertise. Cryptx is focused on growing the mine so a few of the investors here have decided to do that for them to bring this project to a wider audience. What is wrong with that?

What is wrong with that is that there is no benefit for anyone except existing shareholders.

How many times do you have to be wrong before you pick up your legos and go home?
It is clear that you are pretending to be an experienced trader/investor, and very bad at pretending as well.

For him to be wrong there has to be someone that provides arguments that he is indeed wrong. So far this has not been the case.

Ahahaa. Your joking right? Have you read what he comes up with?

We were supposed to be at 0.025 a share every week for the last few months. I wrote a pretty detailed explanation a few days ago of why his 'analysis' is completely wrong and reminiscent of my primary school days and all he could come back with was the personal attacks above, which are complete bullshit.

Apart from the I'd kill you one.. But that was taken out of context. What I wrote was I'd kill his fraudulent hedge fund, which I had a pretty good go at doing. And looking at the buy side on the order book, I was pretty successful.

Or the me being drunk one. Well, I'm hungover. but what can you say, I'm 24 and enjoy going out on the weekends, and the occasional weekday.

Anyways, Darkstone2 your not reading anything that is being written. It was clearly stated above that we still have 18 thousand shares to be issued and the higher the share price the more capital we can raise.

Yeah, I only post in response them because its fun.
I have looked at bcmine's webpage and it hurt my eyes, not to mention how poorly written it is. I was designing better webpages in notepad 15 years ago. It doesn't matter what they post, peta is so far successful, its not up the 700ths original deployment, but at the current rate of growth it will be in the next 2 weeks or so. What some of us understand is that peta is deploying at almost the perfect time. The difficulty increases will plateau, when this happens coupled with an increase in btc/usd, the future is very bright.

How much you want to bet that as soon as peta hits 1phs+ and the share price breaks through 0.25btc, we wont hear from any of them every again.

I also find it very interesting that any time I post a response to one of bcmines ramblings, darkstone2 jumps in to attack me. Either darkstone is stalking me because they are in love with bcmine or they are the same person, although its likely they suffer from MPD.

Just to point out the difficulty is plateauing BECAUSE the price is plateauing. If the price of bitcoin goes up the difficulty will rise much faster as older miners will become profitable again. While the plateau and a rise in bitcoin value would both be good it is unlikely that we will see both occur at once.

[mikemikemike]

In order for businesses to thrive they need to advertise. Cryptx is focused on growing the mine so a few of the investors here have decided to do that for them to bring this project to a wider audience. What is wrong with that?

What is wrong with that is that there is no benefit for anyone except existing shareholders.

How many times do you have to be wrong before you pick up your legos and go home?
It is clear that you are pretending to be an experienced trader/investor, and very bad at pretending as well.

For him to be wrong there has to be someone that provides arguments that he is indeed wrong. So far this has not been the case.

Ahahaa. Your joking right? Have you read what he comes up with?

We were supposed to be at 0.025 a share every week for the last few months. I wrote a pretty detailed explanation a few days ago of why his 'analysis' is completely wrong and reminiscent of my primary school days and all he could come back with was the personal attacks above, which are complete bullshit.

Apart from the I'd kill you one.. But that was taken out of context. What I wrote was I'd kill his fraudulent hedge fund, which I had a pretty good go at doing. And looking at the buy side on the order book, I was pretty successful.

Or the me being drunk one. Well, I'm hungover. but what can you say, I'm 24 and enjoy going out on the weekends, and the occasional weekday.

Anyways, Darkstone2 your not reading anything that is being written. It was clearly stated above that we still have 18 thousand shares to be issued and the higher the share price the more capital we can raise.

Yeah, I only post in response them because its fun.
I have looked at bcmine's webpage and it hurt my eyes, not to mention how poorly written it is. I was designing better webpages in notepad 15 years ago. It doesn't matter what they post, peta is so far successful, its not up the 700ths original deployment, but at the current rate of growth it will be in the next 2 weeks or so. What some of us understand is that peta is deploying at almost the perfect time. The difficulty increases will plateau, when this happens coupled with an increase in btc/usd, the future is very bright.

How much you want to bet that as soon as peta hits 1phs+ and the share price breaks through 0.25btc, we wont hear from any of them every again.

I also find it very interesting that any time I post a response to one of bcmines ramblings, darkstone2 jumps in to attack me. Either darkstone is stalking me because they are in love with bcmine or they are the same person, although its likely they suffer from MPD.

I don't think they are the same exact person, Darkstone2's English is actually quite good but BCMINE's is terrible. Still makes me giggle every time he says Mai instead of May. But yeah, it seems they both post around the same times one after the other. They both seem to have a similar IQ's aswell which is probably lower than my activity. I'd be surprised if they wern't friends outside this forum or if they wern't working together.

0.25 would be nice. Lets get to 0.1 first then ill be happy. 0.25 is if we manage to hold maybe 3-4% of the network for a sustained period. We'd also need some pretty good publicity. It's all really dependant on how many of our own machines we can produce.

And no, I don't think BCMine will ever leave this project or me alone. But it's cool, bitcointalk is full of kids with computers, until they set an age requirement and require identify verification there's not much we can really do. Plus, I quite like having an enemy, I've always wanted one, its just a shame there not really a challenge. It's like playing XBOX against someone with only one arm, you win all the time, but it's just not as satisfying as it should be.

Anyways, I'm off to go get drunk again. Nothing cures a hangover like more drink.

PS: expect BCMine to quote the above sentence a few hundred times over the course of the next few months. But theres nothing like giving the one handed guy a little bit of a head start.

[rdyoung]

In order for businesses to thrive they need to advertise. Cryptx is focused on growing the mine so a few of the investors here have decided to do that for them to bring this project to a wider audience. What is wrong with that?

What is wrong with that is that there is no benefit for anyone except existing shareholders.

How many times do you have to be wrong before you pick up your legos and go home?
It is clear that you are pretending to be an experienced trader/investor, and very bad at pretending as well.

For him to be wrong there has to be someone that provides arguments that he is indeed wrong. So far this has not been the case.

Ahahaa. Your joking right? Have you read what he comes up with?

We were supposed to be at 0.025 a share every week for the last few months. I wrote a pretty detailed explanation a few days ago of why his 'analysis' is completely wrong and reminiscent of my primary school days and all he could come back with was the personal attacks above, which are complete bullshit.

Apart from the I'd kill you one.. But that was taken out of context. What I wrote was I'd kill his fraudulent hedge fund, which I had a pretty good go at doing. And looking at the buy side on the order book, I was pretty successful.

Or the me being drunk one. Well, I'm hungover. but what can you say, I'm 24 and enjoy going out on the weekends, and the occasional weekday.

Anyways, Darkstone2 your not reading anything that is being written. It was clearly stated above that we still have 18 thousand shares to be issued and the higher the share price the more capital we can raise.

Yeah, I only post in response them because its fun.
I have looked at bcmine's webpage and it hurt my eyes, not to mention how poorly written it is. I was designing better webpages in notepad 15 years ago. It doesn't matter what they post, peta is so far successful, its not up the 700ths original deployment, but at the current rate of growth it will be in the next 2 weeks or so. What some of us understand is that peta is deploying at almost the perfect time. The difficulty increases will plateau, when this happens coupled with an increase in btc/usd, the future is very bright.

How much you want to bet that as soon as peta hits 1phs+ and the share price breaks through 0.25btc, we wont hear from any of them every again.

I also find it very interesting that any time I post a response to one of bcmines ramblings, darkstone2 jumps in to attack me. Either darkstone is stalking me because they are in love with bcmine or they are the same person, although its likely they suffer from MPD.

Just to point out the difficulty is plateauing BECAUSE the price is plateauing. If the price of bitcoin goes up the difficulty will rise much faster as older miners will become profitable again. While the plateau and a rise in bitcoin value would both be good it is unlikely that we will see both occur at once.

Actually, No, the difficulty is not plateauing yet. We are still seeing 15%+ rises every 12 days or so.
Its mathematically impossible for the difficulty to keep rising even at the current rate. When we hit 100phs a 15% increase would mean that 15phs of hardware has to come online in 14 days, do you think its possible that worldwide we have enough facilities producing chips. pcbs, etc to bring that much hashing power online that quickly? What about when we do hit 200phs, that 15% means 30phs. The only company I know of working on 20nm is knc, and 20nm and smaller is what it is going to take, or the fiber optic chips that I linked to earlier in the thread.

The difficulty saw a small drop in increases, not because of the price, but because of the delays at bitmine, cointerra, etc. If you look back at the network growth rate, you will notice that when they finally started shipping they hashrate started climbing again.
Another reason for the difficulty rise to slow could be people moving to PPC as their hardware is no longer profitable on BTC, though when BTC starts to rise again, that hardware might get redirected back at BTC.

In summary, we are a LONG way off from mining being unable to at the very least pay the power bill.

[Darkstone2]

Ahahaa. Your joking right? Have you read what he comes up with?

Yes i did and he's more credible than you are. By a large margin.

We were supposed to be at 0.025 a share every week for the last few months. I wrote a pretty detailed explanation a few days ago of why his 'analysis' is completely wrong and reminiscent of my primary school days and all he could come back with was the personal attacks above, which are complete bullshit.

Says the guy who has about 30 personal attacks on it's name... Additionally, your analysis proves absolutely nothing.

Or the me being drunk one. Well, I'm hungover. but what can i say, I'm 24 and enjoy going out on the weekends, and the occasional weekday.

Says the guy who has publicly insulted people over their drugs usage despite the fact the user which that insult has pointed at never said anything about such things.

Anyways, Darkstone2 your not reading anything that is being written. It was clearly stated above that we still have 18 thousand shares to be issued and the higher the share price the more capital we can raise.

You're right, i missed the line in the contract that says how many shares are still left. Slightly more than 18k according to havelock.

I also find it very interesting that any time I post a response to one of bcmines ramblings, darkstone2 jumps in to attack me. Either darkstone is stalking me because they are in love with bcmine or they are the same person, although its likely they suffer from MPD.

I don't think you understand what the word 'attack' means. Or plateau. Or successful. They've barely paid out 10% of the original share price and you're already calling it a success?

A share price of 0.25 is impossible. there is only 0.05 BTC per share in capital, investing in your own mining rigs will net you (approx) 5 times the hashrate petamine can buy for the same price.

Its mathematically impossible for the difficulty to keep rising even at the current rate. When we hit 100phs a 15% increase would mean that 15phs of hardware has to come online in 14 days, do you think its possible that worldwide we have enough facilities producing chips. pcbs, etc to bring that much hashing power online that quickly?

This is the exact same thing people have been saying for months now. And so far nothing of it came true.

[Anotheranonlol]

Yes i did and he's more credible than you are. By a large margin.

You must be smoking crack or intentionally taking the piss now. The nonsense posted by bcmine doesn't even warrant a response, 'shareprice to drop to 0,0002 in mai, loss of 35÷ of capital in one month when you buy now, 770 TH in April 25 = 770.000 * 0,008 BTC (FHA cex.io price) : BTC 6180 in Share BTC 0,072. blabla?? << what?? They are just disjointed ramblings by someone scraping for pennies.

Anyone can draft up quick projections of the future of this project, and even with a fairly pessimistic outlook come to the understanding they can completely feasibly turn a profit.

I don't think you understand what the word 'attack' means. Or plateau. Or successful. They've barely paid out 10% of the original share price and you're already calling it a success?

?? I received ~25% of initial investment back prior to even listing on havelock

Let reality dictate the outcome and stop your bullshit

[Darkstone2]

You must be smoking crack or intentionally taking the piss now. The nonsense posted by bcmine doesn't even warrant a response,

Neither do the insults spread by mikemikemike which i based my comparision on...

?? I received ~25% of initial investment back prior to even listing on havelock

Let reality dictate the outcome and stop your bullshit

The majority of investors stepped in at the IPO at 0.05. According to havelock, 0.00518281 BTC in dividends have been paid.

[Anotheranonlol]

You must be smoking crack or intentionally taking the piss now. The nonsense posted by bcmine doesn't even warrant a response,

Neither do the insults spread by mikemikemike which i based my comparision on...

?? I received ~25% of initial investment back prior to even listing on havelock

Let reality dictate the outcome and stop your bullshit

The majority of investors stepped in at the IPO at 0.05. According to havelock, 0.00518281 BTC in dividends have been paid.

I'm not even sure what your agenda is in posting, shareholders can do own due-diligence, You seem to popup right after bcmine like a tagteam, sure you don't have to drink the peta kool-aid but where is the genuine arguments.

 are you seriously saying because we have seen (Relative) perpetual increase in diffs it will continue like this forever- double digits % increase..in exahash ages, are you really saying nobody has refuted bcmine and therefore his points are valid? talking about cex.io and BDD. come on

If I'm not mistaken this is the only security on havelock, (traditionally where securities come to die) currently trading above IPO? anyone of these 'majority of investors' who jumped in at 0.05 is free to jump ship-- having profited of not only a rise in shareprice but amount earned in dividends too

[ujka]

You must be smoking crack or intentionally taking the piss now. The nonsense posted by bcmine doesn't even warrant a response,

Neither do the insults spread by mikemikemike which i based my comparision on...

?? I received ~25% of initial investment back prior to even listing on havelock

Let reality dictate the outcome and stop your bullshit

The majority of investors stepped in at the IPO at 0.05. According to havelock, 0.00518281 BTC in dividends have been paid.

63'000 shares were issued before havelock. 17'000 issued on havelock isn't majority.

[Darkstone2]

If I'm not mistaken this is the only security on havelock, (traditionally where securities come to die) currently trading above IPO? anyone of these 'majority of investors' who jumped in at 0.05 is free to jump ship-- having profited of not only a rise in shareprice but amount earned in dividends too

NEOBEE was also trading far above the IPO price. And although i made a fair share of return off NEOBEE, i wouldn't call it a success. At this point there exists only the opportunity of success.

RENT is also trading above IPO price.

63'000 shares were issued before havelock. 17'000 issued on havelock isn't majority.

Ouch. I should have done better research. According to the previous thread, the first 33.333 shares where offered at 0.7 BTC, the next 50.000 shares (of which about half are sold) where offered at 0.65 BTC.

The batch at havelock was offered at 0.05 BTC. These investors received 10% of the IPO price in dividends so far. I can't find information about the amount of dividends offered pre-havelock.

[ujka]

Initial IPO price for first 20'000 shares (or 2'000 before 1:10 split) was 0.065. There was no IPO price of 0.07.
My return so far, on IPO price of 0.065 is 30%.

[rdyoung]

You must be smoking crack or intentionally taking the piss now. The nonsense posted by bcmine doesn't even warrant a response,

Neither do the insults spread by mikemikemike which i based my comparision on...

?? I received ~25% of initial investment back prior to even listing on havelock

Let reality dictate the outcome and stop your bullshit

The majority of investors stepped in at the IPO at 0.05. According to havelock, 0.00518281 BTC in dividends have been paid.

 are you seriously saying because we have seen (Relative) perpetual increase in diffs it will continue like this forever- double digits % increase..in exahash ages, are you really saying nobody has refuted bcmine and therefore his points are valid? talking about cex.io and BDD. come on

Yes, they as a lot of people think that something can increase at a fixed % until the end of time.
I am not sure how to explain in mathematical jargon, I see it from the pov of stock prices.
Example, stock xyz is priced at 1$, it takes very little buying pressure to double the price to 2$.
If its priced at 100$ it takes even more to double it, at 1000$ even more, etc.

These are the same people projecting 30 and 40% increases till the end of time. By now we should at 1trillion or better for difficulty if they had been right.

I keep posting this, and certain few keep ignoring it.
When the network hits 100phs it will take 15phs to raise the difficulty by 15%.
At 115phs, 17.25phs is needed for 15% growth. 132.25*15% = 19.8375, etc.

We can't know when we will see the difficulty slow down, but the higher it gets the more likely it is that the difficulty will slow.

[sporket]

You must be smoking crack or intentionally taking the piss now. The nonsense posted by bcmine doesn't even warrant a response,

Neither do the insults spread by mikemikemike which i based my comparision on...

?? I received ~25% of initial investment back prior to even listing on havelock

Let reality dictate the outcome and stop your bullshit

The majority of investors stepped in at the IPO at 0.05. According to havelock, 0.00518281 BTC in dividends have been paid.

I'm not even sure what your agenda is in posting...

Why is it every time your reasoning paints you into a corner, you start questioning people's agendas?  What frickin' difference does it make?  2+2=4 regardless of the intent behind it, and no matter who speaks it -- Hitler or Gandhi.

If I'm not mistaken this is the only security on havelock, (traditionally where securities come to die) currently trading above IPO? ...

Give it a couple of weeks, Havelock usually has none

*As far as being the stock graveyard, yeah.  But due to shortages, a few of the crypts have been repurposed into maternity wards, birthing freaks and crimes against nature, like SF1/SE2 etc., etc. -- perversities fated to short, painful lives and protracted, drawn-out deaths (see every stock on Havelock, including its own HIF, lol). Simultaneously, third-trimester abortions are being tried and aborted -- see NeoBee and COG.  

Weird times.

[EdoBcn]

http://imgur.com/P0myVrg

Price or btc values, in % (looks the same).

I've added the BTC price for each dividend pay date, as a reference.
Hosting cost keeps rising and looks (correctly) correlated to btc price (until last week, were massive deployment happened... so should be fine).

I'm not convinced that I'm looking at data correctly. Maybe I should add difficulty in there?

If the trend keeps going this way, by the 1st of August we should have:
75% for Hosting
9% reinvestment
16% dividends.

At the end of September, the dividends go to zero.

Of course, only if the BTC/$ trend keeps falling and if we can't deploy at cheaper costs. I think that the focus now will really be on the new boards and on less power consumption units (or cheaper electricity?)

Reinvestment looks good until now, over 20% while difficulty didn't keep the same rate.
Am I reading this completely wrong? Does anyone have a nice excel to share?

[EdoBcn]

oh, and if difficulty and btc price doesn't move, and we don't deploy nothing more, this week Div should be 0.001252787

 

[karol]

Wow someone just drop around 300 shares and clean up bids up to 0.06

[kenmomotaro]

http://imgur.com/P0myVrg

Price or btc values, in % (looks the same).

I've added the BTC price for each dividend pay date, as a reference.
Hosting cost keeps rising and looks (correctly) correlated to btc price (until last week, were massive deployment happened... so should be fine).

I'm not convinced that I'm looking at data correctly. Maybe I should add difficulty in there?

Yes, you should add difficulty here. Each time difficulty increasing means we need to output more power to acquire the same amount of btc, that means more higher hosting fee.  1% more difficulty = 1% more hosting fee.

If the trend keeps going this way, by the 1st of August we should have:
75% for Hosting
9% reinvestment
16% dividends.

At the end of September, the dividends go to zero.

Of course, only if the BTC/$ trend keeps falling and if we can't deploy at cheaper costs. I think that the focus now will really be on the new boards and on less power consumption units (or cheaper electricity?)

There is no cheaper electricity in this project. Petamine charges hosting fee 0.45 $/kwh. See? It's based on the electricity. Unless they are willing to reduce their salary.

Find other power efficiency chips is one way.

Reinvestment looks good until now, over 20% while difficulty didn't keep the same rate.
Am I reading this completely wrong? Does anyone have a nice excel to share?

Right now as I know, Petamine's reinvestment is around 2.2 USD/Ghs. Which is not bad, currently the cheapest Ghs in the market. And that brings us about 3% of current hash rate growing each week. However, the total network is growing like 7%~8% each week. Which means we are falling behind. And I suspect the difficulty growing is not going to slow down before September. So I think it's a very harsh situation to shareholders right now. Petamine doesn't care about this, because they charge based on electricity consumed. So the problem is going to be considered by shareholders. The solution is quite clear - BTC price need to be doubled , so we are able to reinvestment more Ghs to catch up with the difficulty growing. (Assuming price rise doesn't lead to insane difficulty growing rate.)
Or Petamine needs to lower the hosting fee so that we can deploy more Ghs with the reinvestment part.
And both of these are not controlled by us. So I think the dividends are about to start decreasing in the next 2 or 3 weeks.
That's why the share price are keeping around 0.065, and I don't think it's undervalued right now.

[EdoBcn]

Wow someone just drop around 300 shares and clean up bids up to 0.06

weak hands.

[DropDead.Be]

Total of 1000 Bitcoins mined this week
Up to the 10 K

500 USD + Bitcoin would be great for dividends though.

[mikemikemike]

http://imgur.com/P0myVrg

Price or btc values, in % (looks the same).

I've added the BTC price for each dividend pay date, as a reference.
Hosting cost keeps rising and looks (correctly) correlated to btc price (until last week, were massive deployment happened... so should be fine).

I'm not convinced that I'm looking at data correctly. Maybe I should add difficulty in there?

Yes, you should add difficulty here. Each time difficulty increasing means we need to output more power to acquire the same amount of btc, that means more higher hosting fee.  1% more difficulty = 1% more hosting fee.

If the trend keeps going this way, by the 1st of August we should have:
75% for Hosting
9% reinvestment
16% dividends.

At the end of September, the dividends go to zero.

Of course, only if the BTC/$ trend keeps falling and if we can't deploy at cheaper costs. I think that the focus now will really be on the new boards and on less power consumption units (or cheaper electricity?)

There is no cheaper electricity in this project. Petamine charges hosting fee 0.45 $/kwh. See? It's based on the electricity. Unless they are willing to reduce their salary.

Find other power efficiency chips is one way.

Reinvestment looks good until now, over 20% while difficulty didn't keep the same rate.
Am I reading this completely wrong? Does anyone have a nice excel to share?

Right now as I know, Petamine's reinvestment is around 2.2 USD/Ghs. Which is not bad, currently the cheapest Ghs in the market. And that brings us about 3% of current hash rate growing each week. However, the total network is growing like 7%~8% each week. Which means we are falling behind. And I suspect the difficulty growing is not going to slow down before September. So I think it's a very harsh situation to shareholders right now. Petamine doesn't care about this, because they charge based on electricity consumed. So the problem is going to be considered by shareholders. The solution is quite clear - BTC price need to be doubled , so we are able to reinvestment more Ghs to catch up with the difficulty growing. (Assuming price rise doesn't lead to insane difficulty growing rate.)
Or Petamine needs to lower the hosting fee so that we can deploy more Ghs with the reinvestment part.
And both of these are not controlled by us. So I think the dividends are about to start decreasing in the next 2 or 3 weeks.
That's why the share price are keeping around 0.065, and I don't think it's undervalued right now.

don't worry dude. the current BTC price is expected. we will smash the all time high again soon. even with the china news bringing us down it still can't break the bubble cycle. The fact the news from China that came out last night that all the banks have been told to stop taking BTC and the price only dropped by $15-20 dollars is testament to this. we will see it drop further as the news impacts the banks but if we stay solid above $400, apart from a drop down to $300 range for the odd flash crash, then by mid-late june we will be at $1000 and rising.

http://imgur.com/a/YOV7t

[Darkstone2]

Right now as I know, Petamine's reinvestment is around 2.2 USD/Ghs. Which is not bad, currently the cheapest Ghs in the market.

Source?