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

[Kuma]

I suppose the problem is ghash.io pool problems (maybe DDOS??).

CryptX, are there backup pools used in PETAMINE config?

[Elvis Trout]

In the May 30th update: "Dividend payout will resume next Friday (June 6th), we propose to alter the dividend / reinvestment ratio to 50/50. So 50% of net mining revenue will be paid out as dividend."

How and when will this proposal be voted on by shareholders? In the original contract it is stated:

"CryptX will not change the direction or goal of the PETA-MINE without shareholder votes"
"The percentage of the net revenue paid in dividends can change if shareholders vote to change it."
"While the reinvestment percentage is subject to change via shareholder vote, such action will only occur if the state of the Bitcoin mining space demands it."

Shareholders were, as far as I am aware, not given a chance to vote on the IPO, or on revisions to the prospectus. What is my position as a shareholder?

We found out recently that 'shareholders' in the prospectus means 'shareholders with more than a 5% share', so they obviously voted for this already we just don't get to hear about it.

Hope it's ok for me to request some references for this.

Thanks.

Errr read further back in the thread, sorry it's late and I need to sleep rather than trawl the thread for where havelock posted

[cryptocxeq]

Why would large shareholders support this anyway?

[nwfella]

I suppose the problem is ghash.io pool problems (maybe DDOS??).

CryptX, are there backup pools used in PETAMINE config?

I know there where more problems at ghash.io today.  Both us1 and uk1 servers where down for a time again. My little guys are able to hash at their nl1.ghash.io proxy just fine though.  Bit surprised it's not listed as a tertiary pool for petamine though :/

[howardb]

15 GH/s equates to 0.022 BTC/month at current difficulty, assuming 50% reinvestment is more than enough to keep up with difficulty (and hence maintain share price), and hosting fees are not too significant (especially with BTC rising), a yield of 0.01 BTC per month on an investment of 0.07 BTC (current share price) seems damned attractive to me.

[mikemikemike]

Lol. Check my more recent posts. You know as well as I do I sold my shares in AM a week ago for a twenty percent profit. Using false information to forward your own agenda just shows how weak your argument is.

And FYI, I brought DRK @ 0.014 and sold at 0.043, then got into XC @ 0.003 and rode the wave up to 0.0045. So yeah, nursing a huge hangover today and will do to again tomorrow, But not for the reasons you expect.

Enjoy.

I didn't actually read the post where you said you sold genuinely. I only remember reading where you were excitable about raising capital to buy in, so apologies there. . 20% profit if you got in when you wrote you were seems pretty impressive.. not even sure there was room for it but you done good if so.
I think I only managed to squeeze out around 7% in the last week  there.  

Glad to see though that your recent excursions on securities market haven't resulted in seeking emergency accommodation,
and your xc and drk trades paid off nicely having you on the champagne instead, I can only afford a few stellas tonight because no dividends here.
 best of luck in any future bitcoin adventures.

No worries dude, best of luck to you too.

On a side note, now the reinvestment percentage has changed, which is all I ever wanted, I must say I think you guys will get a good ROI now. Your going to get a record yield this Friday, with the new reinvestment percentage I actually believe the IPO price was justified. I must say when it was trading yesterday @ 0.072 I was extremely tempted to buy in, but alas, after everything, I won't be, especially as I've now gone back to propper daytrading. I wish you all the best of luck and I hope you understand I stirred up all that shit because I thought the reinvestment percentage was completely unfair for investors, now it has been rectified, this is again the best investment on havelock.

I wish you all the best of luck. Anything below 0.08 is a ridiculous buy and you'll realise why on Friday.

Peaceeeeee

[cryptocxeq]

]

No worries dude, best of luck to you too.

On a side note, now the reinvestment percentage has changed, which is all I ever wanted, I must say I think you guys will get a good ROI now. Your going to get a record yield this Friday, with the new reinvestment percentage I actually believe the IPO price was justified. I must say when it was trading yesterday @ 0.072 I was extremely tempted to buy in, but alas, after everything, I won't be, especially as I've now gone back to propper daytrading. I wish you all the best of luck and I hope you understand I stirred up all that shit because I thought the reinvestment percentage was completely unfair for investors, now it has been rectified, this is again the best investment on havelock.

I wish you all the best of luck. Anything below 0.08 is a ridiculous buy and you'll realise why on Friday.

Peaceeeeee

can you explain this a bit more? What has the reinvestment percentage been changed to? Why is this a good thing?

[stompysteve]

]

No worries dude, best of luck to you too.

On a side note, now the reinvestment percentage has changed, which is all I ever wanted, I must say I think you guys will get a good ROI now. Your going to get a record yield this Friday, with the new reinvestment percentage I actually believe the IPO price was justified. I must say when it was trading yesterday @ 0.072 I was extremely tempted to buy in, but alas, after everything, I won't be, especially as I've now gone back to propper daytrading. I wish you all the best of luck and I hope you understand I stirred up all that shit because I thought the reinvestment percentage was completely unfair for investors, now it has been rectified, this is again the best investment on havelock.

I wish you all the best of luck. Anything below 0.08 is a ridiculous buy and you'll realise why on Friday.

Peaceeeeee

can you explain this a bit more? What has the reinvestment percentage been changed to? Why is this a good thing?

50%reinvestment the rest divs minus hosting, which will be lower now that BTC price has jumped up

my div guess .0021

[altoidmintz]

50%reinvestment the rest divs minus hosting, which will be lower now that BTC price has jumped up

my div guess .0021

I haven't run the numbers to verify that div estimate

BUT

I can confirm hosting cost will be significantly lower this time due to fiat/btc spike.

[_biO_]

my div guess .0021

I'd say .0025

[howardb]

my div guess .0021

I'd say .0025

I'll split the diff, would be 0.0025 without hosting costs, so guestimating 0.0023

[_biO_]

my div guess .0021

I'd say .0025

I'll split the diff, would be 0.0025 without hosting costs, so guestimating 0.0023

Hosting is $0,25/kWh. The new hardware runs at 0.785 watt/GH/s, let's assume overall it's 1 watt/GH/s. Let's go with a price of $600 per Bitcoin.

At current diff, we should mine 0.00505 BTC per share in one week. Hosting cost would be about 0,00105 BTC. 50% of 0.004 is 0,002 BTC.

Now GH/s per share might be slightly above 15 GH/s (waiting for a statement from cryptx on that), watt/GH/s overall might be a little better in reality and the bitcoin price might go significantly higher over the next week, which further reduces hosting costs.

But 0.0025 might have been a little optimistic. stompysteve's guess is probably spot-on.

[mikemikemike]

]

No worries dude, best of luck to you too.

On a side note, now the reinvestment percentage has changed, which is all I ever wanted, I must say I think you guys will get a good ROI now. Your going to get a record yield this Friday, with the new reinvestment percentage I actually believe the IPO price was justified. I must say when it was trading yesterday @ 0.072 I was extremely tempted to buy in, but alas, after everything, I won't be, especially as I've now gone back to propper daytrading. I wish you all the best of luck and I hope you understand I stirred up all that shit because I thought the reinvestment percentage was completely unfair for investors, now it has been rectified, this is again the best investment on havelock.

I wish you all the best of luck. Anything below 0.08 is a ridiculous buy and you'll realise why on Friday.

Peaceeeeee

can you explain this a bit more? What has the reinvestment percentage been changed to? Why is this a good thing?

The original reinvestment percentage started above 90%, meaning the first weeks dividend would have been around 5x less than what it is now.

[cesmak]

]

No worries dude, best of luck to you too.

On a side note, now the reinvestment percentage has changed, which is all I ever wanted, I must say I think you guys will get a good ROI now. Your going to get a record yield this Friday, with the new reinvestment percentage I actually believe the IPO price was justified. I must say when it was trading yesterday @ 0.072 I was extremely tempted to buy in, but alas, after everything, I won't be, especially as I've now gone back to propper daytrading. I wish you all the best of luck and I hope you understand I stirred up all that shit because I thought the reinvestment percentage was completely unfair for investors, now it has been rectified, this is again the best investment on havelock.

I wish you all the best of luck. Anything below 0.08 is a ridiculous buy and you'll realise why on Friday.

Peaceeeeee

can you explain this a bit more? What has the reinvestment percentage been changed to? Why is this a good thing?

The original reinvestment percentage started above 90%, meaning the first weeks dividend would have been around 5x less than what it is now.

You are wrong, last email send to shareholders from Cryptx say :

Dear unit holders,

As the IPO is running towards an end, we would like to inform you about where we are and what is going to happen.

Current Status:
Currently, about 11,085 units are sold during IPO, which brings the total of outstanding units to 77,291. We increased hashrate from 7.55 GH to 15 GH/share on Monday, which brings the total hashrate of PetaMine to 1159 TH/s.

Why does it matter how many shares are sold in IPO? We now have 15GH/share, so what would be the benefit?
The more shares sold in IPO, the less CryptX has to pre-finance, we currently pre-financed 964 BTC. If and additional 10,000 shares are sold in IPO, the loan would be reduced to 530 BTC, with complete IPO sold out, this would mean, no loan has to be paid back.

What will happen after IPO?
Dividend payout will resume next Friday (June 6th), we propose to alter the dividend / reinvestment ratio to 50/50. So 50% of net mining revenue will be paid out as dividend. The remaining 50% will be used to repay the loan of 964 BTC CryptX has pre-financed to pay for new hardware, after that funds will be used to further expand PetaMine.

Team CryptX

So the dividends will no 5x less than previous one, we passed from 40/60% to 50/50% and from 7GH/s per share to 15GH/s per share, there is btc/usd best ratio exchange, so hosting fees will be reduced too, so i think that is impossible to receive a dividend reduced in ammount...

[_biO_]

]

No worries dude, best of luck to you too.

On a side note, now the reinvestment percentage has changed, which is all I ever wanted, I must say I think you guys will get a good ROI now. Your going to get a record yield this Friday, with the new reinvestment percentage I actually believe the IPO price was justified. I must say when it was trading yesterday @ 0.072 I was extremely tempted to buy in, but alas, after everything, I won't be, especially as I've now gone back to propper daytrading. I wish you all the best of luck and I hope you understand I stirred up all that shit because I thought the reinvestment percentage was completely unfair for investors, now it has been rectified, this is again the best investment on havelock.

I wish you all the best of luck. Anything below 0.08 is a ridiculous buy and you'll realise why on Friday.

Peaceeeeee

can you explain this a bit more? What has the reinvestment percentage been changed to? Why is this a good thing?

The original reinvestment percentage started above 90%, meaning the first weeks dividend would have been around 5x less than what it is now.

You are wrong, last email send to shareholders from Cryptx say :

No, he is right. At some point 90% was planned. But it is now 50%.

[cesmak]

]

No worries dude, best of luck to you too.

On a side note, now the reinvestment percentage has changed, which is all I ever wanted, I must say I think you guys will get a good ROI now. Your going to get a record yield this Friday, with the new reinvestment percentage I actually believe the IPO price was justified. I must say when it was trading yesterday @ 0.072 I was extremely tempted to buy in, but alas, after everything, I won't be, especially as I've now gone back to propper daytrading. I wish you all the best of luck and I hope you understand I stirred up all that shit because I thought the reinvestment percentage was completely unfair for investors, now it has been rectified, this is again the best investment on havelock.

I wish you all the best of luck. Anything below 0.08 is a ridiculous buy and you'll realise why on Friday.

Peaceeeeee

can you explain this a bit more? What has the reinvestment percentage been changed to? Why is this a good thing?

The original reinvestment percentage started above 90%, meaning the first weeks dividend would have been around 5x less than what it is now.

You are wrong, last email send to shareholders from Cryptx say :

No, he is right. At some point 90% was planned. But it is now 50%.

No he is wrong because is reporting wrong and outdated informations !!!

This is not correct to put in evidence infos that are surpassed by new updates, and bring bad lights on the operaton...

[karol]

W would say 0.0023. So in compare to 0,0015 last time, it is more than 50% increase in dividents. So before price was around 0,075-0,08 assuming dividents price should go up to 0,11 - 0,12.
And in 50% of reinvestment gives us better oppurtunity to cach up diffulty - even with 50%reinvestment we have 50% more dividents.

Of course there are still not unswered questions but as for now I belive IPO was on good prices and it will go above IPO when people collect money to buy shares. I am waiting to collect some funds to buy some shares below IPo as well as Scrypt shares.

[_biO_]

]

No worries dude, best of luck to you too.

On a side note, now the reinvestment percentage has changed, which is all I ever wanted, I must say I think you guys will get a good ROI now. Your going to get a record yield this Friday, with the new reinvestment percentage I actually believe the IPO price was justified. I must say when it was trading yesterday @ 0.072 I was extremely tempted to buy in, but alas, after everything, I won't be, especially as I've now gone back to propper daytrading. I wish you all the best of luck and I hope you understand I stirred up all that shit because I thought the reinvestment percentage was completely unfair for investors, now it has been rectified, this is again the best investment on havelock.

I wish you all the best of luck. Anything below 0.08 is a ridiculous buy and you'll realise why on Friday.

Peaceeeeee

can you explain this a bit more? What has the reinvestment percentage been changed to? Why is this a good thing?

The original reinvestment percentage started above 90%, meaning the first weeks dividend would have been around 5x less than what it is now.

You are wrong, last email send to shareholders from Cryptx say :

No, he is right. At some point 90% was planned. But it is now 50%.

No he is wrong because is reporting wrong and outdated informations !!!

This is not correct to put in evidence infos that are surpassed by new updates, and bring bad lights on the operaton...

You misunderstood, he wrote:

The original reinvestment percentage started above 90%, meaning the first weeks dividend would have been around 5x less than what it is now.

[cesmak]

]

No worries dude, best of luck to you too.

On a side note, now the reinvestment percentage has changed, which is all I ever wanted, I must say I think you guys will get a good ROI now. Your going to get a record yield this Friday, with the new reinvestment percentage I actually believe the IPO price was justified. I must say when it was trading yesterday @ 0.072 I was extremely tempted to buy in, but alas, after everything, I won't be, especially as I've now gone back to propper daytrading. I wish you all the best of luck and I hope you understand I stirred up all that shit because I thought the reinvestment percentage was completely unfair for investors, now it has been rectified, this is again the best investment on havelock.

I wish you all the best of luck. Anything below 0.08 is a ridiculous buy and you'll realise why on Friday.

Peaceeeeee

can you explain this a bit more? What has the reinvestment percentage been changed to? Why is this a good thing?

The original reinvestment percentage started above 90%, meaning the first weeks dividend would have been around 5x less than what it is now.

You are wrong, last email send to shareholders from Cryptx say :

No, he is right. At some point 90% was planned. But it is now 50%.

No he is wrong because is reporting wrong and outdated informations !!!

This is not correct to put in evidence infos that are surpassed by new updates, and bring bad lights on the operaton...

You misunderstood, he wrote:

The original reinvestment percentage started above 90%, meaning the first weeks dividend would have been around 5x less than what it is now.

Ok, yes, i have to learn more english sorry for the misunderstood, i'm not a native english language speaker....

[crino]

Dear Unit Holder,

To have a better view about current unit holders dividend / reinvestment preference, we are opening a vote where every unit holder can submit their preferred ratio. The vote will only be valid for current unit holders and held until Thursday, June 5th 2014 - 12:00 GMT. Votes will be weighted based on the amount of units of each individual unit holder. Based on outcome, we will adapt reinvestment/dividend strategy.

Click the link below to place your vote:
<a href="https://surveymonkey.com/s/B7ZVF8J">https://surveymonkey.com/s/B7ZVF8J</a>

Thank you,

Team CryptX

65% div. / 35% reinv.