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

[twentyseventy]

I don't see why it would be in cryptx's interest to buy back ~14000 shares from the market and destroy them.  Where did that money come from?

Speculating, was the bitmine contract paid for with shares, and the risk of further delays removed by cancelling the contract and recovering the shares?

This is a very important question. If the performed the share buy-back with funds meant to be put towards mining then the shareholders paid for it one way or another.

[pedrog]

Haha yes, i ment 0.001252. My bad.
195 (BTC mined) x 81.3/217 x 0.56 (44% lower $/kWh) => 40 BTC for hosting
155 BTC (remaining) x 0.65 / 80470 = 0.001252

I'll use your numbers and just make a little change:

155 BTC (remaining) x 0.65 / 66206 = 0,001521

 

[Collider]

announced dividend

0.00150424

[Elvis Trout]

I don't see why it would be in cryptx's interest to buy back ~14000 shares from the market and destroy them.  Where did that money come from?

Speculating, was the bitmine contract paid for with shares, and the risk of further delays removed by cancelling the contract and recovering the shares?

We don't know exactly why yet, but I expect the next announcement will clear that up.  However, CryptX did say that the move opened up some new opportunities, so I it sounds like good news to me!

Sounds like one way or another the money came from the reserves sitting waiting to be invested in more hash power.

It will be so that they can hold an IPO, however I don't know why they needed more shares to do that when they already have unsold shares they can use for the IPO. They must be planning a big sale, perhaps they got such a kick out of the scryptx IPO they want to do another one. Perhaps selling overpriced mining rights to share holders is more lucrative than simply hosting Just kidding I'm sure they have their reasons, but some more transparency would be good so that people like me don't jump to unkind conclusions.

[Collider]

Bigger orders mean more volume discount, so everyone should be happy about it

[Elvis Trout]

Here we go, from havelock

Current And Upcoming Public Offerings:

PETA-MINE CryptX (PETA)

2014-05-16   2014-05-19 11:00:00   2014-05-31 11:00:00   10000   10000   10000   ฿0.0950

[cryptx]

Info about dividend payout for this week:

200.08284084 BTC in total from mining and converted NMC's:
- 99.72051321as Dividend (0.00150424 BTC / share)
- 53.69566096 Reinvestment
- 46.66666667 Hosting Fee

More info to follow!

[E f f e c T]

AHAAHHA. This is great. So you brought all those shares back, now your going to inflate the price, then resell them back on the market??

You couldn't write this shit..

In the meantime, you do this during the first week of SCRYPT, meaning anyone who moved money across to try out your other project is now at a loss?

Really?!!

[Elvis Trout]

AHAAHHA. This is great. So you brought all those shares back, now your going to inflate the price, then resell them back on the market??

You couldn't write this shit..

In the meantime, you do this during the first week of SCRYPT, meaning anyone who moved money across to try out your other project is now at a loss?

Really?!!

I expect the person they bought the shares from was doing so in order to buy up scryptx ipo, plenty of big holders were liquidating in order to participate in the ipo. Divs have yet to be announced for scryptx and I'm sure the share price will go up once it's announced so they may end up even. But I agree it does seem rather ridiculous.

[Collider]

AHAAHHA. This is great. So you brought all those shares back, now your going to inflate the price, then resell them back on the market??

You couldn't write this shit..

In the meantime, you do this during the first week of SCRYPT, meaning anyone who moved money across to try out your other project is now at a loss?

Really?!!

Relax, next announcement will be further increase of GH/share.

[Elvis Trout]

So according to the new prospectus cryptx has order 1000ths from bitfury giving us each 15ghs per unit to be deployed immediately after ipo! Sounds pretty good to me!

Annoyed that I invested in scryptx now though

[pedrog]

Well, 15GH/s/share, here we go.

[chkgk]

relevant quote from the prospectus:

Deployment of the mine with a total hash power of 1,500 TH/s will begin on the 26th of May and will be complete before the 31th of May, 2014. We are very confident about this timing because the miners are proven to work and are currently in stock.

(highlight theirs)

That would lead to 15GH/s per unit.
Also, that would make up for ~2% of total btc mining network.

[Collider]

AHAAHHA. This is great. So you brought all those shares back, now your going to inflate the price, then resell them back on the market??

You couldn't write this shit..

In the meantime, you do this during the first week of SCRYPT, meaning anyone who moved money across to try out your other project is now at a loss?

Really?!!

Relax, next announcement will be further increase of GH/share.

Relax?

I took money out of PETA to put in scrypt and I've just been royally fucked over.

I repeatedly told everyone that the GH/share would increase as bitmine units where not delivered as contractually stated.

cryptx has repeatadly told everyone that they would come up with something.

I am sorry, but if you cant do the math and sell early, but atleast you still got some profit out of it.

[stompysteve]

AHAAHHA. This is great. So you brought all those shares back, now your going to inflate the price, then resell them back on the market??

You couldn't write this shit..

In the meantime, you do this during the first week of SCRYPT, meaning anyone who moved money across to try out your other project is now at a loss?

Really?!!

Relax, next announcement will be further increase of GH/share.

Relax?

I took money out of PETA to put in scrypt and I've just been royally fucked over.

No one said sell peta to get in their other project?? i dont understand how you think their decision is fucking you over

[currencydebt]

Looks like great news.

Will trading be halted during IPO? The IPO price is higher than the current share price

[Collider]

Can anyone post a direct link to the prospectus?
I am either blind or cannot find it.

[stompysteve]

Looks like great news.

Will trading be halted during IPO? The IPO price is higher than the current share price

[PETA] 71 @ 0.08337527 = 5.9196 BTC

• {7}

[HAVELOCK] [PETA] 129 @ 0.08935059 = 11.5262 BTC

• {9}

[HAVELOCK] [PETA] 69 @ 0.09446816 = 6.5183 BTC

• {7}

[HAVELOCK] [PETA] 106 @ 0.0945 = 10.017 BTC

not any more lol someone went crazy and bought up everything

[pedrog]

relevant quote from the prospectus:

Deployment of the mine with a total hash power of 1,500 TH/s will begin on the 26th of May and will be complete before the 31th of May, 2014. We are very confident about this timing because the miners are proven to work and are currently in stock.

(highlight theirs)

That would lead to 15GH/s per unit.
Also, that would make up for ~2% of total btc mining network.

If not all units are sold we will still have 15GH/s/share but the total hashrate will be lower and dividends are retain to pay for all the hardware.

So, lets hope this IPO is a success.

[currencydebt]

Looks like great news.

Will trading be halted during IPO? The IPO price is higher than the current share price

[PETA] 71 @ 0.08337527 = 5.9196 BTC

• {7}

[HAVELOCK] [PETA] 129 @ 0.08935059 = 11.5262 BTC

• {9}

[HAVELOCK] [PETA] 69 @ 0.09446816 = 6.5183 BTC

• {7}

[HAVELOCK] [PETA] 106 @ 0.0945 = 10.017 BTC

not any more lol someone went crazy and bought up everything

Now that was awesome!