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

[MrSike]

*snip*

Excellent work. But the reinvestment percentage is 90% going down three - four percent every period. Could you run the numbers using the reinvestment percentage cryptX has said they are going to use?

You can find it here.

https://docs.google.com/spreadsheet/ccc?key=0AjI5bgsiFJAidHgwa0UyTHNEVG1lbDdvN2FMTExvOHc&om=true&richtext=false#gid=32

Once you've put those numbers in you'll know exactly why I've been going batshit crazy.

Okay after adjusting the reinvestment it is a more optimistic outcome and the adjustments in weeks to payback debt, dividends received are adjusted now.

Worst case still 9 weeks but total dividend to shareholders is up to 192.708

Best case still 0 weeks but total dividend to shareholders is up to 2149.708

Realistic projection goes up to 5 weeks but total dividend to shareholders up to 1142.708

This reinvestment plan CryptX has will actually extend the life on the mine and will bring the estimated year prediction up to ~13,000 BTC. About 30% better than my first prediction.

How can the dividend go up in the first ten weeks if the reinvestment percentage is much higher?

No offence but you have done something seriously wrong.

Please post the numbers

The dividend will suffer a loss during the first few weeks after IPO but the additional reinvestment will actually keep up with the difficulty increase longer than the original 35% reinvestment plan. As you can see in the realistic projection it will take an extra week to pay off the debt but the estimated BTC each week is also greater that the mine will yield. Notice how the estimated BTC column stays at a higher yield compared to the first prediction at 35% reinvestment and you will understand how a higher dividend is possible after 10 weeks of operation.  Since CryptX's predictions are based on 10 day periods and mine are on 7 day periods to equal the target blocktime the reinvestment % is down to 2.1% which when averaged out to CryptX's 10 day of 3% less will be almost the same.

Worst case.
Difficulty   Network Hash   Peta hashrate   Estimated BTC   Hosting Fee   Peta BTC   Reinvestment   Dividends   BTC to pay back
10092894592   72248.856   1500.000   523.192   130.798   392.394   353.154   39.239   1917.761
11606828781   83086.185   1500.000   454.949   113.737   341.212   299.925   221.788   1695.973
11606828781   83086.185   1680.637   509.737   127.434   382.302   328.015   248.497   1447.476
13347853098   95549.112   1834.048   483.710   120.927   362.782   303.649   235.808   1211.668
13347853098   95549.112   2001.827   527.959   131.990   395.970   323.111   257.380   954.288
15350031063   109881.479   2157.143   494.715   123.679   371.036   294.974   241.173   713.114
17652535722   126363.701   2322.413   463.146   115.786   347.359   268.856   225.784   487.331
17652535722   126363.701   2473.292   493.235   123.309   369.926   278.554   240.452   246.879
20300416080   145318.256   2610.811   452.747   113.187   339.560   248.558   220.714   26.164
20300416080   145318.256   2753.290   477.455   119.364   358.091   254.603   232.759   -206.595

Best case.
Difficulty   Network Hash   Peta hashrate   Estimated BTC   Hosting Fee   Peta BTC   Reinvestment   Dividends   BTC to pay back
10092894592   72248.856   1500.000   523.192   130.798   392.394   353.154   39.239   -39.239
11606828781   83086.185   1500.000   454.949   113.737   341.212   299.925   221.788   -261.027
11606828781   83086.185   1680.637   509.737   127.434   382.302   328.015   248.497   -509.524
13347853098   95549.112   1834.048   483.710   120.927   362.782   303.649   235.808   -745.332
13347853098   95549.112   2001.827   527.959   131.990   395.970   323.111   257.380   -1002.712
15350031063   109881.479   2157.143   494.715   123.679   371.036   294.974   241.173   -1243.886
17652535722   126363.701   2322.413   463.146   115.786   347.359   268.856   225.784   -1469.669
17652535722   126363.701   2473.292   493.235   123.309   369.926   278.554   240.452   -1710.121
20300416080   145318.256   2610.811   452.747   113.187   339.560   248.558   220.714   -1930.836
20300416080   145318.256   2753.290   477.455   119.364   358.091   254.603   232.759   -2163.595

Realistic case.
Difficulty   Network Hash   Peta hashrate   Estimated BTC   Hosting Fee   Peta BTC   Reinvestment   Dividends   BTC to pay back
10092894592   72248.856   1500.000   523.192   130.798   392.394   353.154   39.239   967.761
11606828781   83086.185   1500.000   454.949   113.737   341.212   299.925   221.788   745.973
11606828781   83086.185   1680.637   509.737   127.434   382.302   328.015   248.497   497.476
13347853098   95549.112   1834.048   483.710   120.927   362.782   303.649   235.808   261.668
13347853098   95549.112   2001.827   527.959   131.990   395.970   323.111   257.380   4.288
15350031063   109881.479   2157.143   494.715   123.679   371.036   294.974   241.173   -236.886
17652535722   126363.701   2322.413   463.146   115.786   347.359   268.856   225.784   -462.669
17652535722   126363.701   2473.292   493.235   123.309   369.926   278.554   240.452   -703.121
20300416080   145318.256   2610.811   452.747   113.187   339.560   248.558   220.714   -923.836
20300416080   145318.256   2753.290   477.455   119.364   358.091   254.603   232.759   -1156.595

Ok. Theres your problem. You have only used the new reinvestment percentage for the dividend for the first week. See where it jumps from 39.239 to 221.778? I don't think you pasted the formula down

Thank you for spotting that! Ok after dragging the formula down WOW! This reinvestment plan is amazing for the mine and CryptX! But for shareholders it is HORRIBLE!

Worst case: 21 weeks to pay back debt.

Best case: 0 weeks but only 707 BTC total dividends paid out to shareholders after 10 weeks.

Realistic case: 13 weeks to pay back debt with a total of 22.121 BTC in dividends paid out to shareholders.


Edit: added the 10 week time frame to best case.

[1714509327]

1714509327

[mikemikemike]

*snip*

Excellent work. But the reinvestment percentage is 90% going down three - four percent every period. Could you run the numbers using the reinvestment percentage cryptX has said they are going to use?

You can find it here.

https://docs.google.com/spreadsheet/ccc?key=0AjI5bgsiFJAidHgwa0UyTHNEVG1lbDdvN2FMTExvOHc&om=true&richtext=false#gid=32

Once you've put those numbers in you'll know exactly why I've been going batshit crazy.

Okay after adjusting the reinvestment it is a more optimistic outcome and the adjustments in weeks to payback debt, dividends received are adjusted now.

Worst case still 9 weeks but total dividend to shareholders is up to 192.708

Best case still 0 weeks but total dividend to shareholders is up to 2149.708

Realistic projection goes up to 5 weeks but total dividend to shareholders up to 1142.708

This reinvestment plan CryptX has will actually extend the life on the mine and will bring the estimated year prediction up to ~13,000 BTC. About 30% better than my first prediction.

How can the dividend go up in the first ten weeks if the reinvestment percentage is much higher?

No offence but you have done something seriously wrong.

Please post the numbers

The dividend will suffer a loss during the first few weeks after IPO but the additional reinvestment will actually keep up with the difficulty increase longer than the original 35% reinvestment plan. As you can see in the realistic projection it will take an extra week to pay off the debt but the estimated BTC each week is also greater that the mine will yield. Notice how the estimated BTC column stays at a higher yield compared to the first prediction at 35% reinvestment and you will understand how a higher dividend is possible after 10 weeks of operation.  Since CryptX's predictions are based on 10 day periods and mine are on 7 day periods to equal the target blocktime the reinvestment % is down to 2.1% which when averaged out to CryptX's 10 day of 3% less will be almost the same.

Worst case.
Difficulty   Network Hash   Peta hashrate   Estimated BTC   Hosting Fee   Peta BTC   Reinvestment   Dividends   BTC to pay back
10092894592   72248.856   1500.000   523.192   130.798   392.394   353.154   39.239   1917.761
11606828781   83086.185   1500.000   454.949   113.737   341.212   299.925   221.788   1695.973
11606828781   83086.185   1680.637   509.737   127.434   382.302   328.015   248.497   1447.476
13347853098   95549.112   1834.048   483.710   120.927   362.782   303.649   235.808   1211.668
13347853098   95549.112   2001.827   527.959   131.990   395.970   323.111   257.380   954.288
15350031063   109881.479   2157.143   494.715   123.679   371.036   294.974   241.173   713.114
17652535722   126363.701   2322.413   463.146   115.786   347.359   268.856   225.784   487.331
17652535722   126363.701   2473.292   493.235   123.309   369.926   278.554   240.452   246.879
20300416080   145318.256   2610.811   452.747   113.187   339.560   248.558   220.714   26.164
20300416080   145318.256   2753.290   477.455   119.364   358.091   254.603   232.759   -206.595

Best case.
Difficulty   Network Hash   Peta hashrate   Estimated BTC   Hosting Fee   Peta BTC   Reinvestment   Dividends   BTC to pay back
10092894592   72248.856   1500.000   523.192   130.798   392.394   353.154   39.239   -39.239
11606828781   83086.185   1500.000   454.949   113.737   341.212   299.925   221.788   -261.027
11606828781   83086.185   1680.637   509.737   127.434   382.302   328.015   248.497   -509.524
13347853098   95549.112   1834.048   483.710   120.927   362.782   303.649   235.808   -745.332
13347853098   95549.112   2001.827   527.959   131.990   395.970   323.111   257.380   -1002.712
15350031063   109881.479   2157.143   494.715   123.679   371.036   294.974   241.173   -1243.886
17652535722   126363.701   2322.413   463.146   115.786   347.359   268.856   225.784   -1469.669
17652535722   126363.701   2473.292   493.235   123.309   369.926   278.554   240.452   -1710.121
20300416080   145318.256   2610.811   452.747   113.187   339.560   248.558   220.714   -1930.836
20300416080   145318.256   2753.290   477.455   119.364   358.091   254.603   232.759   -2163.595

Realistic case.
Difficulty   Network Hash   Peta hashrate   Estimated BTC   Hosting Fee   Peta BTC   Reinvestment   Dividends   BTC to pay back
10092894592   72248.856   1500.000   523.192   130.798   392.394   353.154   39.239   967.761
11606828781   83086.185   1500.000   454.949   113.737   341.212   299.925   221.788   745.973
11606828781   83086.185   1680.637   509.737   127.434   382.302   328.015   248.497   497.476
13347853098   95549.112   1834.048   483.710   120.927   362.782   303.649   235.808   261.668
13347853098   95549.112   2001.827   527.959   131.990   395.970   323.111   257.380   4.288
15350031063   109881.479   2157.143   494.715   123.679   371.036   294.974   241.173   -236.886
17652535722   126363.701   2322.413   463.146   115.786   347.359   268.856   225.784   -462.669
17652535722   126363.701   2473.292   493.235   123.309   369.926   278.554   240.452   -703.121
20300416080   145318.256   2610.811   452.747   113.187   339.560   248.558   220.714   -923.836
20300416080   145318.256   2753.290   477.455   119.364   358.091   254.603   232.759   -1156.595

Ok. Theres your problem. You have only used the new reinvestment percentage for the dividend for the first week. See where it jumps from 39.239 to 221.778? I don't think you pasted the formula down

Thank you for spotting that! Ok after dragging the formula down WOW! This reinvestment plan is amazing for the mine and CryptX! But for shareholders it is HORRIBLE!

Worst case: 21 weeks to pay back debt.

Best case: 0 weeks but only 707 BTC total dividends paid out to shareholders.

Realistic case: 13 weeks to pay back debt with a total of 22.121 BTC in dividends paid out to shareholders.

Thanks, it's nice to hear from someone else I'm not crazy. Best case : 707 BTC. That's less than a 10% yield.

Now please, people, stop being angry at me and start directing it at CryptX. Everything I've told you is true. Now hopefully someone else has verified it you will understand why I've been so adamant about this. I'm not trying to destroy this project, this project is already dead from an investors perspective. I'm trying to save all of you from losing your money, and stop them getting rich off you guys in the process. This is the exact same reason they never wanted to fix the projections, because they knew you would see exactly what they are trying to do.

/out until cryptX deleted this post and I have to add it to the other thread.

[Anonymousg64]

Best case scenario 33k shares sold during IPO 0 weeks to pay back debt after IPO is finished.
Difficulty         Network Hash   Peta hashrate   Estimated BTC   Hosting Fee   Peta BTC   Reinvestment   Dividends
10092894592   72248.856       1500.000          523.192           130.798        392.394      353.155         39.2394
11606828781   83086.185       1500.000          454.949           113.737        341.212      296.854         44.3575
11606828781   83086.185       1595.000          483.77             119.064        364.706      302.706         62.000
13347853098   95549.112       1674.000          441.505           107.561        333.944      263.816         70.128
13347853098   95549.112       1755.000          462.869           111.778        351.091      263.318         87.773
15350031063   109881.479     1825.000          418.548           100.510        318.38        226.050         92.330
17652535722   126363.701     1895.000          377.915            90.393         287.522      195.515         92.007
17652535722   126363.701     1955.000          389.880            93.084         296.796      192.918         103.879
20300416080   145318.256     2007.000          348.044            83.048         264.996      161.648         103.349
20300416080   145318.256     2058.000          356.888            85.215         271.673      157.570         114.103



and i expect it will go even better as btc value goes up and hardware cost/Gh goes down, which is not factored in here

[mikemikemike]

*snip*

Excellent work. But the reinvestment percentage is 90% going down three - four percent every period. Could you run the numbers using the reinvestment percentage cryptX has said they are going to use?

You can find it here.

https://docs.google.com/spreadsheet/ccc?key=0AjI5bgsiFJAidHgwa0UyTHNEVG1lbDdvN2FMTExvOHc&om=true&richtext=false#gid=32

Once you've put those numbers in you'll know exactly why I've been going batshit crazy.

Okay after adjusting the reinvestment it is a more optimistic outcome and the adjustments in weeks to payback debt, dividends received are adjusted now.

Worst case still 9 weeks but total dividend to shareholders is up to 192.708

Best case still 0 weeks but total dividend to shareholders is up to 2149.708

Realistic projection goes up to 5 weeks but total dividend to shareholders up to 1142.708

This reinvestment plan CryptX has will actually extend the life on the mine and will bring the estimated year prediction up to ~13,000 BTC. About 30% better than my first prediction.

How can the dividend go up in the first ten weeks if the reinvestment percentage is much higher?

No offence but you have done something seriously wrong.

Please post the numbers

The dividend will suffer a loss during the first few weeks after IPO but the additional reinvestment will actually keep up with the difficulty increase longer than the original 35% reinvestment plan. As you can see in the realistic projection it will take an extra week to pay off the debt but the estimated BTC each week is also greater that the mine will yield. Notice how the estimated BTC column stays at a higher yield compared to the first prediction at 35% reinvestment and you will understand how a higher dividend is possible after 10 weeks of operation.  Since CryptX's predictions are based on 10 day periods and mine are on 7 day periods to equal the target blocktime the reinvestment % is down to 2.1% which when averaged out to CryptX's 10 day of 3% less will be almost the same.

Worst case.
Difficulty   Network Hash   Peta hashrate   Estimated BTC   Hosting Fee   Peta BTC   Reinvestment   Dividends   BTC to pay back
10092894592   72248.856   1500.000   523.192   130.798   392.394   353.154   39.239   1917.761
11606828781   83086.185   1500.000   454.949   113.737   341.212   299.925   221.788   1695.973
11606828781   83086.185   1680.637   509.737   127.434   382.302   328.015   248.497   1447.476
13347853098   95549.112   1834.048   483.710   120.927   362.782   303.649   235.808   1211.668
13347853098   95549.112   2001.827   527.959   131.990   395.970   323.111   257.380   954.288
15350031063   109881.479   2157.143   494.715   123.679   371.036   294.974   241.173   713.114
17652535722   126363.701   2322.413   463.146   115.786   347.359   268.856   225.784   487.331
17652535722   126363.701   2473.292   493.235   123.309   369.926   278.554   240.452   246.879
20300416080   145318.256   2610.811   452.747   113.187   339.560   248.558   220.714   26.164
20300416080   145318.256   2753.290   477.455   119.364   358.091   254.603   232.759   -206.595

Best case.
Difficulty   Network Hash   Peta hashrate   Estimated BTC   Hosting Fee   Peta BTC   Reinvestment   Dividends   BTC to pay back
10092894592   72248.856   1500.000   523.192   130.798   392.394   353.154   39.239   -39.239
11606828781   83086.185   1500.000   454.949   113.737   341.212   299.925   221.788   -261.027
11606828781   83086.185   1680.637   509.737   127.434   382.302   328.015   248.497   -509.524
13347853098   95549.112   1834.048   483.710   120.927   362.782   303.649   235.808   -745.332
13347853098   95549.112   2001.827   527.959   131.990   395.970   323.111   257.380   -1002.712
15350031063   109881.479   2157.143   494.715   123.679   371.036   294.974   241.173   -1243.886
17652535722   126363.701   2322.413   463.146   115.786   347.359   268.856   225.784   -1469.669
17652535722   126363.701   2473.292   493.235   123.309   369.926   278.554   240.452   -1710.121
20300416080   145318.256   2610.811   452.747   113.187   339.560   248.558   220.714   -1930.836
20300416080   145318.256   2753.290   477.455   119.364   358.091   254.603   232.759   -2163.595

Realistic case.
Difficulty   Network Hash   Peta hashrate   Estimated BTC   Hosting Fee   Peta BTC   Reinvestment   Dividends   BTC to pay back
10092894592   72248.856   1500.000   523.192   130.798   392.394   353.154   39.239   967.761
11606828781   83086.185   1500.000   454.949   113.737   341.212   299.925   221.788   745.973
11606828781   83086.185   1680.637   509.737   127.434   382.302   328.015   248.497   497.476
13347853098   95549.112   1834.048   483.710   120.927   362.782   303.649   235.808   261.668
13347853098   95549.112   2001.827   527.959   131.990   395.970   323.111   257.380   4.288
15350031063   109881.479   2157.143   494.715   123.679   371.036   294.974   241.173   -236.886
17652535722   126363.701   2322.413   463.146   115.786   347.359   268.856   225.784   -462.669
17652535722   126363.701   2473.292   493.235   123.309   369.926   278.554   240.452   -703.121
20300416080   145318.256   2610.811   452.747   113.187   339.560   248.558   220.714   -923.836
20300416080   145318.256   2753.290   477.455   119.364   358.091   254.603   232.759   -1156.595

Ok. Theres your problem. You have only used the new reinvestment percentage for the dividend for the first week. See where it jumps from 39.239 to 221.778? I don't think you pasted the formula down

Thank you for spotting that! Ok after dragging the formula down WOW! This reinvestment plan is amazing for the mine and CryptX! But for shareholders it is HORRIBLE!

Worst case: 21 weeks to pay back debt.

Best case: 0 weeks but only 707 BTC total dividends paid out to shareholders after 10 weeks.

Realistic case: 13 weeks to pay back debt with a total of 22.121 BTC in dividends paid out to shareholders.


Edit: added the 10 week time frame to best case.

Dude, as a final request, can you extend the data set out to the full 52 weeks and post it here so we have a whole years worth of data?

[MrSike]

Here's the thing, everything is already set in motion and regardless of if a single share in this IPO is bought CryptX still wins. He still gets his 25% hosting fee and the shareholders are left footing the bill, it'll take a while to pay back the company he bought the miners from but it doesn't matter. He gets his 25% every week and shareholders pay the bill from dividends. Share price doesn't matter CrytpX still makes the same amount of BTC, IPO doesn't matter, just means even less dividends for shareholders.

There is no way for CryptX to lose on this deal unless you use your voting power as shareholders to request the original 35% reinvestment to be used to pay back the company and request 65% in dividends like in the original prospectus. This will at least get you a nice ROI in the upcoming months but the mine will die within the year. This is the best choice for shareholders imo.

I'll post the 52 week data in just a minute.

[pedrog]

Dude, as a final request, can you extend the data set out to the full 52 weeks and post it here so we have a whole years worth of data?

No need, because it's bullshit, are you going to run scenarios for every BTC/USD possible value for the next 12 months and possible deals on hardware that CryptX might find in the near future, or 8 months from now?

Using current BTC price for the next 12 months is just bullshit...

[Anonymousg64]

Here's the thing, everything is already set in motion and regardless of if a single share in this IPO is bought CryptX still wins. He still gets his 25% hosting fee and the shareholders are left footing the bill, it'll take a while to pay back the company he bought the miners from but it doesn't matter. He gets his 25% every week and shareholders pay the bill from dividends. Share price doesn't matter CrytpX still makes the same amount of BTC, IPO doesn't matter, just means even less dividends for shareholders.

There is no way for CryptX to lose on this deal unless you use your voting power as shareholders to request the original 35% reinvestment to be used to pay back the company and request 65% in dividends like in the original prospectus. This will at least get you a nice ROI in the upcoming months but the mine will die within the year. This is the best choice for shareholders imo.

I'll post the 52 week data in just a minute.

it does matter, because increases in their revenue is directly tied to the reinvestment's and performance vs network
its in their interest to make sure the hashrate keeps going up, if they want long term revenue they need to make sure they keep mined BTC above the threshold required to maintain their market position

also for future projects they need to maintain a degree of profitability for investors

[webbrowser]

Best case scenario 33k shares sold during IPO 0 weeks to pay back debt after IPO is finished.
Difficulty         Network Hash   Peta hashrate   Estimated BTC   Hosting Fee   Peta BTC   Reinvestment   Dividends
10092894592   72248.856       1500.000          523.192           130.798        392.394      353.155         39.2394
11606828781   83086.185       1500.000          454.949           113.737        341.212      296.854         44.3575
11606828781   83086.185       1595.000          483.77             119.064        364.706      302.706         62.000
13347853098   95549.112       1674.000          441.505           107.561        333.944      263.816         70.128
13347853098   95549.112       1755.000          462.869           111.778        351.091      263.318         87.773
15350031063   109881.479     1825.000          418.548           100.510        318.38        226.050         92.330
17652535722   126363.701     1895.000          377.915            90.393         287.522      195.515         92.007
17652535722   126363.701     1955.000          389.880            93.084         296.796      192.918         103.879
20300416080   145318.256     2007.000          348.044            83.048         264.996      161.648         103.349
20300416080   145318.256     2058.000          356.888            85.215         271.673      157.570         114.103



and i expect it will go even better as btc value goes up and hardware cost/Gh goes down, which is not factored in here

I don't understand why your hosting fees are going down (and so far below cryptx's own estimates) while the peta hashrate is going up.

If you are basing this on BTC exchange rate going to the moon, why not add the column for the exchange rate, so that this best case scenario is compared against holding BTC instead?

[Anonymousg64]

Best case scenario 33k shares sold during IPO 0 weeks to pay back debt after IPO is finished.
Difficulty         Network Hash   Peta hashrate   Estimated BTC   Hosting Fee   Peta BTC   Reinvestment   Dividends
10092894592   72248.856       1500.000          523.192           130.798        392.394      353.155         39.2394
11606828781   83086.185       1500.000          454.949           113.737        341.212      296.854         44.3575
11606828781   83086.185       1595.000          483.77             119.064        364.706      302.706         62.000
13347853098   95549.112       1674.000          441.505           107.561        333.944      263.816         70.128
13347853098   95549.112       1755.000          462.869           111.778        351.091      263.318         87.773
15350031063   109881.479     1825.000          418.548           100.510        318.38        226.050         92.330
17652535722   126363.701     1895.000          377.915            90.393         287.522      195.515         92.007
17652535722   126363.701     1955.000          389.880            93.084         296.796      192.918         103.879
20300416080   145318.256     2007.000          348.044            83.048         264.996      161.648         103.349
20300416080   145318.256     2058.000          356.888            85.215         271.673      157.570         114.103



and i expect it will go even better as btc value goes up and hardware cost/Gh goes down, which is not factored in here

I don't understand why your hosting fees are going down (and so far below cryptx's own estimates) while the peta hashrate is going up.

If you are basing this on BTC exchange rate going to the moon, why not add the column for the exchange rate, so that this best case scenario is compared against holding BTC instead?

assuming BTC value does not move

idk about hosting fee, took data from MySike

[pedrog]

JESUS CHRIST HOW MANY TIMES DO I HAVE TO SAY IT. THIS ISN'T PROFITABLE FOR ANYONE APART FROM THEM. MySike just fucking backed up everything I've been saying with figures and your still arguing? No joke. put all of your money in PETA. All of it. Sell your house, your kids, whatever. If you can't see what's clearly infront of you then that's your problem.

What do you mean by "It's not profitable"?

It doesn't return the full price of a share in one year dividends?

[MrSike]

As requested here is 52 week projection. After a year the dividends are 4141 BTC which is ~ .041 BTC per shareholder given the best case scenario.
But again this should be far off of what is expected since as the time frame grows larger the accuracy falls. The reinvestment becomes worthless towards the end of the year so the plan will have to change even if you are one of those long term investors that think the mine can last forever.

@webbrowser I will be glad to have the hosting fee remain constant or even go up, that would be even worse for shareholders. You do realize by the hosting fee going down that is more BTC for reinvestment and dividends so if you want me to I can redo this with higher hosting fees so that's even less dividend and reinvestment funds. So if you want me to make this change you will see an even worse outcome.

Don't get tied up on the hosting fee guys because anything more realistic for hosting fees will result in a worse outcome for the mine and shareholders.

Difficulty   Network Hash   Peta hashrate   Estimated BTC   Hosting Fee   Peta BTC   Reinvestment   Dividends   BTC to pay back
10092894592   72248.856   1500.000   523.192   130.798   392.394   353.154   39.239   -39.239
11606828781   83086.185   1500.000   454.949   113.737   341.212   299.925   41.287   -80.526
11606828781   83086.185   1680.637   509.737   127.434   382.302   328.015   54.287   -134.813
13347853098   95549.112   1834.048   483.710   120.927   362.782   303.649   59.133   -193.946
13347853098   95549.112   2001.827   527.959   131.990   395.970   323.111   72.858   -266.805
15350031063   109881.479   2157.143   494.715   123.679   371.036   294.974   76.062   -342.867
17652535722   126363.701   2322.413   463.146   115.786   347.359   268.856   78.503   -421.370
17652535722   126363.701   2473.292   493.235   123.309   369.926   278.554   91.372   -512.742
20300416080   145318.256   2610.811   452.747   113.187   339.560   248.558   91.002   -603.744
20300416080   145318.256   2753.290   477.455   119.364   358.091   254.603   103.488   -707.233
23345478492   167115.994   2880.427   434.350   108.587   325.762   224.776   100.986   -808.219
23345478492   167115.994   3010.656   453.987   113.497   340.490   227.788   112.702   -920.921
26847300266   192183.394   3125.628   409.847   102.462   307.385   199.186   108.200   -1029.121
26847300266   192183.394   3242.141   425.125   106.281   318.844   199.915   118.929   -1148.050
30874395306   221010.903   3344.024   381.291   95.323   285.968   173.297   112.671   -1260.721
30874395306   221010.903   3446.280   392.950   98.238   294.713   172.407   122.306   -1383.027
35505554602   254162.538   3534.921   350.484   87.621   262.863   148.255   114.608   -1497.635
35505554602   254162.538   3623.106   359.228   89.807   269.421   146.296   123.125   -1620.761
40831387792   292286.919   3698.938   318.910   79.728   239.183   124.853   114.329   -1735.090
40831387792   292286.919   3773.768   325.362   81.340   244.021   122.255   121.767   -1856.856
46956095961   336129.956   3837.630   287.711   71.928   215.783   103.576   112.207   -1969.064
46956095961   336129.956   3900.163   292.399   73.100   219.299   100.658   118.641   -2087.705
53999510355   386549.450   3953.142   257.714   64.428   193.285   84.659   108.626   -2196.331
53999510355   386549.450   4004.628   261.070   65.268   195.803   81.650   114.153   -2310.484
62099436909   444531.867   4047.931   229.473   57.368   172.104   68.153   103.951   -2414.435
62099436909   444531.867   4089.695   231.840   57.960   173.880   65.205   108.675   -2523.110
71414352445   511211.647   4124.555   203.319   50.830   152.489   53.981   98.508   -2621.618
71414352445   511211.647   4157.907   204.963   51.241   153.722   51.189   102.533   -2724.151
82126505312   587893.395   4185.519   179.412   44.853   134.559   41.982   92.577   -2816.727
82126505312   587893.395   4211.702   180.534   45.134   135.401   39.402   95.999   -2912.726
94445481109   676077.404   4233.176   157.787   39.447   118.340   31.952   86.388   -2999.114
94445481109   676077.404   4253.329   158.538   39.634   118.903   29.607   89.296   -3088.411
108612303275   777489.014   4269.673   138.389   34.597   103.792   23.664   80.127   -3168.538
108612303275   777489.014   4284.817   138.880   34.720   104.160   22.707   81.453   -3249.991
124904148766   894112.367   4296.921   121.106   30.277   90.830   18.893   71.937   -3321.928
124904148766   894112.367   4308.535   121.433   30.358   91.075   18.033   73.042   -3394.970
143639771081   1028229.222   4318.199   105.831   26.458   79.373   14.922   64.451   -3459.421
143639771081   1028229.222   4327.423   106.057   26.514   79.543   14.159   65.384   -3524.805
165185736743   1182463.605   4335.055   92.386   23.097   69.290   11.641   57.649   -3582.454
165185736743   1182463.605   4342.297   92.541   23.135   69.405   10.966   58.439   -3640.894
189963597254   1359833.145   4348.251   80.580   20.145   60.435   8.944   51.491   -3692.385
189963597254   1359833.145   4353.861   80.684   20.171   60.513   8.351   52.162   -3744.547
218458136843   1563808.117   4358.436   70.234   17.559   52.676   6.742   45.933   -3790.480
218458136843   1563808.117   4362.707   70.303   17.576   52.727   6.222   46.505   -3836.986
251226857369   1798379.335   4366.156   61.181   15.295   45.886   4.956   40.930   -3877.916
251226857369   1798379.335   4369.338   61.226   15.306   45.919   4.500   41.419   -3919.335
288910885974   2068136.235   4371.873   53.271   13.318   39.953   3.516   36.437   -3955.772
288910885974   2068136.235   4374.175   53.299   13.325   39.974   3.118   36.856   -3992.629
332247518871   2378356.670   4375.973   46.366   11.591   34.774   2.365   32.410   -4025.038
332247518871   2378356.670   4377.568   46.383   11.596   34.787   2.018   32.769   -4057.808
382084646701   2735110.171   4378.778   40.344   10.086   30.258   1.452   28.806   -4086.613
382084646701   2735110.171   4379.810   40.353   10.088   30.265   1.150   29.115   -4115.728
439397343706   3145376.697   4380.553   35.096   8.774   26.322   0.737   25.585   -4141.313

[pedrog]

Good luck dude. I can take a thirsty person to water but if you don't want to drink it that's your problem. I ignore your points because they have been answered before by other people yet you are continuously recycling the same shit over and over again. If you honestly think difficulty is going to slowdown over the next six months then your crazy, or you have no idea what your talking about. Whichever whatever.

Actually, I think difficulty is going to increase at a bigger rate in coming year, AM is going to unleash hundreds of PH/s, it would be nice if CryptX secured a deal for a few of those...

[pedrog]

JESUS CHRIST HOW MANY TIMES DO I HAVE TO SAY IT. THIS ISN'T PROFITABLE FOR ANYONE APART FROM THEM. MySike just fucking backed up everything I've been saying with figures and your still arguing? No joke. put all of your money in PETA. All of it. Sell your house, your kids, whatever. If you can't see what's clearly infront of you then that's your problem.

What do you mean by "It's not profitable"?

It doesn't return the full price of a share in one year dividends?

No it doesn't lol

This is what I've been trying to say. Shareholders won't even see a forty percent return over the year if they are lucky, and looking at the current satisfactory yield, that would drop the share price to about 0.03-0.04. This IPO is going to pay them serious amounts of money while everyone else is going to be left bag holding.

Oh, I see, that's just how this type of securities work...

Hey, don't ever buy any stock, none of those return after one year, if you buy Apple you need to wait a few decades before you got your principal back.

[Anonymousg64]

As requested here is 52 week projection. After a year the dividends are 4141 BTC which is ~ .041 BTC per shareholder given the best case scenario.
But again this should be far off of what is expected since as the time frame grows larger the accuracy falls. The reinvestment becomes worthless towards the end of the year so the plan will have to change even if you are one of those long term investors that think the mine can last forever.

@webbrowser I will be glad to have the hosting fee remain constant or even go up, that would be even worse for shareholders. You do realize by the hosting fee going down that is more BTC for reinvestment and dividends so if you want me to I can redo this with higher hosting fees so that's even less dividend and reinvestment funds. So if you want me to make this change you will see an even worse outcome.

Don't get tied up on the hosting fee guys because anything more realistic for hosting fees will result in a worse outcome for the mine and shareholders.

Difficulty   Network Hash   Peta hashrate   Estimated BTC   Hosting Fee   Peta BTC   Reinvestment   Dividends   BTC to pay back
10092894592   72248.856   1500.000   523.192   130.798   392.394   353.154   39.239   -39.239
11606828781   83086.185   1500.000   454.949   113.737   341.212   299.925   41.287   -80.526
11606828781   83086.185   1680.637   509.737   127.434   382.302   328.015   54.287   -134.813
13347853098   95549.112   1834.048   483.710   120.927   362.782   303.649   59.133   -193.946
13347853098   95549.112   2001.827   527.959   131.990   395.970   323.111   72.858   -266.805
15350031063   109881.479   2157.143   494.715   123.679   371.036   294.974   76.062   -342.867
17652535722   126363.701   2322.413   463.146   115.786   347.359   268.856   78.503   -421.370
17652535722   126363.701   2473.292   493.235   123.309   369.926   278.554   91.372   -512.742
20300416080   145318.256   2610.811   452.747   113.187   339.560   248.558   91.002   -603.744
20300416080   145318.256   2753.290   477.455   119.364   358.091   254.603   103.488   -707.233
23345478492   167115.994   2880.427   434.350   108.587   325.762   224.776   100.986   -808.219
23345478492   167115.994   3010.656   453.987   113.497   340.490   227.788   112.702   -920.921
26847300266   192183.394   3125.628   409.847   102.462   307.385   199.186   108.200   -1029.121
26847300266   192183.394   3242.141   425.125   106.281   318.844   199.915   118.929   -1148.050
30874395306   221010.903   3344.024   381.291   95.323   285.968   173.297   112.671   -1260.721
30874395306   221010.903   3446.280   392.950   98.238   294.713   172.407   122.306   -1383.027
35505554602   254162.538   3534.921   350.484   87.621   262.863   148.255   114.608   -1497.635
35505554602   254162.538   3623.106   359.228   89.807   269.421   146.296   123.125   -1620.761
40831387792   292286.919   3698.938   318.910   79.728   239.183   124.853   114.329   -1735.090
40831387792   292286.919   3773.768   325.362   81.340   244.021   122.255   121.767   -1856.856
46956095961   336129.956   3837.630   287.711   71.928   215.783   103.576   112.207   -1969.064
46956095961   336129.956   3900.163   292.399   73.100   219.299   100.658   118.641   -2087.705
53999510355   386549.450   3953.142   257.714   64.428   193.285   84.659   108.626   -2196.331
53999510355   386549.450   4004.628   261.070   65.268   195.803   81.650   114.153   -2310.484
62099436909   444531.867   4047.931   229.473   57.368   172.104   68.153   103.951   -2414.435
62099436909   444531.867   4089.695   231.840   57.960   173.880   65.205   108.675   -2523.110
71414352445   511211.647   4124.555   203.319   50.830   152.489   53.981   98.508   -2621.618
71414352445   511211.647   4157.907   204.963   51.241   153.722   51.189   102.533   -2724.151
82126505312   587893.395   4185.519   179.412   44.853   134.559   41.982   92.577   -2816.727
82126505312   587893.395   4211.702   180.534   45.134   135.401   39.402   95.999   -2912.726
94445481109   676077.404   4233.176   157.787   39.447   118.340   31.952   86.388   -2999.114
94445481109   676077.404   4253.329   158.538   39.634   118.903   29.607   89.296   -3088.411
108612303275   777489.014   4269.673   138.389   34.597   103.792   23.664   80.127   -3168.538
108612303275   777489.014   4284.817   138.880   34.720   104.160   22.707   81.453   -3249.991
124904148766   894112.367   4296.921   121.106   30.277   90.830   18.893   71.937   -3321.928
124904148766   894112.367   4308.535   121.433   30.358   91.075   18.033   73.042   -3394.970
143639771081   1028229.222   4318.199   105.831   26.458   79.373   14.922   64.451   -3459.421
143639771081   1028229.222   4327.423   106.057   26.514   79.543   14.159   65.384   -3524.805
165185736743   1182463.605   4335.055   92.386   23.097   69.290   11.641   57.649   -3582.454
165185736743   1182463.605   4342.297   92.541   23.135   69.405   10.966   58.439   -3640.894
189963597254   1359833.145   4348.251   80.580   20.145   60.435   8.944   51.491   -3692.385
189963597254   1359833.145   4353.861   80.684   20.171   60.513   8.351   52.162   -3744.547
218458136843   1563808.117   4358.436   70.234   17.559   52.676   6.742   45.933   -3790.480
218458136843   1563808.117   4362.707   70.303   17.576   52.727   6.222   46.505   -3836.986
251226857369   1798379.335   4366.156   61.181   15.295   45.886   4.956   40.930   -3877.916
251226857369   1798379.335   4369.338   61.226   15.306   45.919   4.500   41.419   -3919.335
288910885974   2068136.235   4371.873   53.271   13.318   39.953   3.516   36.437   -3955.772
288910885974   2068136.235   4374.175   53.299   13.325   39.974   3.118   36.856   -3992.629
332247518871   2378356.670   4375.973   46.366   11.591   34.774   2.365   32.410   -4025.038
332247518871   2378356.670   4377.568   46.383   11.596   34.787   2.018   32.769   -4057.808
382084646701   2735110.171   4378.778   40.344   10.086   30.258   1.452   28.806   -4086.613
382084646701   2735110.171   4379.810   40.353   10.088   30.265   1.150   29.115   -4115.728
439397343706   3145376.697   4380.553   35.096   8.774   26.322   0.737   25.585   -4141.313

And dude, here's where it gets scary. There is still one major mistake you have made. Hosting fee is a fixed cost per machine, it will stay roughly the same throughout the year, getting higher and higher as more money is pumped into reinvestment. You can see the estimated hosting fee in the projections that where posted by CryptX. If you want to account for that go ahead, that's the killer. I'm guessing a yield over the year of 20% once you account for that and the project not even lasting six months

this is totally inaccurate,
also hosting fees are priced in fiat and set to drop in the future

im quite sure they can achieve a hasrate doubling rate of less then 3 months

[pedrog]

JESUS CHRIST HOW MANY TIMES DO I HAVE TO SAY IT. THIS ISN'T PROFITABLE FOR ANYONE APART FROM THEM. MySike just fucking backed up everything I've been saying with figures and your still arguing? No joke. put all of your money in PETA. All of it. Sell your house, your kids, whatever. If you can't see what's clearly infront of you then that's your problem.

What do you mean by "It's not profitable"?

It doesn't return the full price of a share in one year dividends?

No it doesn't lol

This is what I've been trying to say. Shareholders won't even see a forty percent return over the year if they are lucky, and looking at the current satisfactory yield, that would drop the share price to about 0.03-0.04. This IPO is going to pay them serious amounts of money while everyone else is going to be left bag holding.

Oh, I see, that's just how this type of securities work...

Hey, don't ever buy any stock, none of those return after one year, if you buy Apple you need to wait a few decades before you got your principal back.

Yea but the point is all those companies will still be around in ten years, this won't even last nine months. So all the money you invest in the shares itself are going to whittle down to 0 over the corse of less than a year, apart from when CryptX sells the machines on as doorstops.

Well, that's the risk with any start up...

So, you think the reinvestment percentage should be higher?

[Anonymousg64]

i can defend them because i know they are doing the right thing
according to your logic no cloud mining operation in existence will exist beyond the next 6 months

i can also make a highly inaccurate projection if you want

to bring up the accuracy i would need to take year over year trends, altho not enough years have gone by yet to get any good reading out of even that


in regards to my situation, satoshidice 163 bitcoins 2012

[jimmothy]

I think there is a lot of confusion going on about the latest developments. Let me try to elaborate on this.

First we want to clear some misunderstandings:

“You bought 14,500 units and now you sell them at a higher price in the IPO to make a profit for yourself”.

The money that is raised at the IPO will go to the purchase of 1000 TH/s of mining equipment, which costs about 3,760 BTC. Financial breakdown to deploy 1PH/s:

• Cost: 3,760 BTC
• Income:

                * 33,794 shares at IPO: 3,313 BTC
                * Current reinvestment funds: 150 BTC
                * Mining revenue (16-31 May): 300 BTC

“do you think you could tell us what that 1000BTC will be spent on cryptx? Shares or what?”

We will pre-finance the 1000 BTC to be able to purchase up to 1000 TH/s after the IPO. This means it is a loan from us to the PetaMine. The more shares are sold in the IPO, the less has to be pre-financed and paid back in dividends.

“Why are dividends withheld for a few weeks?”

This is a joint effort of current investors, new investors and CryptX. Investing in new hardware now will have a much better impact in the long run on both unit value and dividends.

“But they are misleading people so they can maximize their own profits. The first few months will be the most profitable, but instead of pumping out dividends then are going to use it to reinvest so they can have more machines, which makes them more money. “

We can tell all of you that we have already invested over 1,000,000$ of our own private money into this project. This money has been spent on:

•   Datacenter: Electric installation, cooling, infrastructure, alarms, network, etc
•   Shipping costs: We have paid all the express shipping from US (Cointerra), from Switzerland (Bitmine), from China (Dragon miners, custom miners).
•   PSU: we have bought about 200 psu’s so the Coincraft desk could be delivered faster.
•   Custom miners: Apart from the chips, we have paid the full production of 250 miners.
•   Custom designs
•   Labor costs
•   Etc

We have a margin on hosting costs, so it is in our interest that PetaMine grows. We have cut hosting from 0.45$/kwh to 0.25$/kwh because we believe in the project for the long term and want it to have every chance to succeed.

Old situation:

We were hashing at about 500 TH/s with 80,760 units. What would have happened if we did not make some drastic changes? 

First we would pay the last part of the Bitmine contract and we would be in the same situation like before. We would have to wait on the RIG’s to be delivered. In best case, all RIG’s would be deployed in a couple of weeks and we would hash at 700 TH/s with 80,760 units outstanding. This would have meant 8.67 GH/share.

Second every week the dividend payments would have gone down and the hosting fees would have gone up.

The overall result would have been that the PetaMine would produce less and less dividend until costs became higher than revenue. The consequences would have been a dropping unit price and a dropping dividend.

New situation:

We have cut the hosting fee from 0.45$/kwh to 0.25$/kwh. In other words we gave up a large portion of our income to the PetaMine project.  We could have left it at 0.45$ and receive a lot more hosting for the coming months. Instead we want the project to thrive and become one of the larger players in the Bitcoin mining place.
We bought back about 14,500 shares with the money we otherwise had to spend on Bitmine for our second part of the contract. We did this because we are convinced that we could use these shares to take the PetaMine to another level.

What will be the overall result?

Plain and simple, if the IPO is successful PetaMine will be much larger and the unit holders will be owner of 15 GH/s per share instead of 8.68 GH/s per share. On top of this the costs of the mine are almost halved.
We are convinced that we all have to look at this project with our long term glasses on. Big dividends in the short run will result in a dead project in the long run. PetaMine cannot simultaneously grow exponentially and pay large dividends at the same time. We want to become and stay one of the large players in Bitcoin mining.

Wait so PETA has been charging $0.45/kwh and investors are not outraged by this? $0.25/kwh is approaching reasonable costs yet still incredibly overpriced. How will peta compete with operations like megabigpower at less than $0.05/kwh?

Also how has PETA invested "over $1,000,000" of their own money in to this project? And where is the extra 1,000 btc loan coming from? Has this ~3,000btc been taken out of dividends or is this just a massive expense that will be ignored until bankruptcy?

Looks like PETA confirmed they bought the 14k shares to sell in a new IPO at twice the price they are worth for an easy profit.

So in the end PETA is just a scheme to build as big of a farm as possible while charging outrageous hosting fees payed to themselves of course.

As difficulty increases exponentially investors profits will dry up. But PETA will be happily sucking in money at a fixed rate of $0.25/kwh.

Has PETA considered offering a stock to give investors the chance to get in on this huge profit PETA will be sucking out of PETAMINE?

At 2MW PETA will be charging PETAMINE $84,000/week while increasing with every PETAMINE reinvestment and PETAMINE will earn 10% of $220,000 (decreasing with every difficulty increase (also assuming they start mining during next difficulty)).

[MrSike]

i can defend them because i know they are doing the right thing
according to your logic no cloud mining operation in existence will exist beyond the next 3 months

i can also make a highly inaccurate projection if you want

to bring up the accuracy i would need to take year over year trends, altho not enough years have gone by yet to get any good reading out of even that


in regards to my situation, satoshidice 163 bitcoins 2012

Cloud mining companies pay out dividends straight away, when the net asset value of the capital is at its highest, producing a much better ROI, they are doing the complete opposite here.

Ok. Look, dude I'm sorry. But please understand, I had a career looking at things like this. The strategy they have selected is solely to increase their own earnings, not shareholders. You really think I'd be going apeshit mental if they wern't trying to do something extremely sinister? If they paid out dividends at a 35/65 ratio again all investors would see a good return, but instead, they are trying to build the mine up as big as possible even though difficulty is going to make it much less profitable. Why? increased hosting fees.

you dont understand that 35/65 would be bad for long term investors, what they are doing now will benefit all investors
companies that pay out dividends straight away may be good for initial investors but completely doom the project and screw over later investors

Run the numbers yourself, look into the cost of running these miners, what is being charged, how difficulty rises compared to how much reinvestment will cover. An engineer like yourself should know how to do this. Don't put blind faith into a company because they say they are doing what is best for the investors. Numbers speak more than words. Or ignore everything discussed here if your goal is to make money for others. If you do run the numbers post them here so we can all see why this is such a great investment for long term holders like you say.

[Anonymousg64]

i can defend them because i know they are doing the right thing
according to your logic no cloud mining operation in existence will exist beyond the next 3 months

i can also make a highly inaccurate projection if you want

to bring up the accuracy i would need to take year over year trends, altho not enough years have gone by yet to get any good reading out of even that


in regards to my situation, satoshidice 163 bitcoins 2012

Cloud mining companies pay out dividends straight away, when the net asset value of the capital is at its highest, producing a much better ROI, they are doing the complete opposite here.

Ok. Look, dude I'm sorry. But please understand, I had a career looking at things like this. The strategy they have selected is solely to increase their own earnings, not shareholders. You really think I'd be going apeshit mental if they wern't trying to do something extremely sinister? If they paid out dividends at a 35/65 ratio again all investors would see a good return, but instead, they are trying to build the mine up as big as possible even though difficulty is going to make it much less profitable. Why? increased hosting fees.

you dont understand that 35/65 would be bad for long term investors, what they are doing now will benefit all investors
companies that pay out dividends straight away may be good for initial investors but completely doom the project and screw over later investors

Run the numbers yourself, look into the cost of running these miners, what is being charged, how difficulty rises compared to how much reinvestment will cover. An engineer like yourself should know how to do this. Don't put blind faith into a company because they say they are doing what is best for the investors. Numbers speak more than words. Or ignore everything discussed here if your goal is to make money for others. If you do run the numbers post them here so we can all see why this is such a great investment for long term holders like you say.

i have run the numbers myself, from the data you posted, look up a few posts, but it seems i cannot make it clear enough that multifactor exponential projections are impossible to make with any degree of acuracy
there are too many possible outcomes

i know the costs, PETA offers allot of benefits compared to investing in my own hardware and strategy

[jimmothy]

PETA is meant to be a mining operation that continues to function indefinitely

How can petamine function indefinitely when they are charging themselves $0.25/kwh vs the competition at less than $0.05/kwh?