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

[karol]

We might have had a chance if we had a big reinvestment fund waiting for the boom in July. However what cryptx have cleverly done is position it so that we got the loan during the run up to the boom when btc are cheap and we will have just about paid it back by the peak. Cryptx wins PETA loses. I am still holding because cryptx have been very reasonable in the past.

Thats what i am thinking... Like we got a loan in BTC when BTC price is low. and now we are repaying the loan instead of accumulating reinvestment fund for the july. It would be so much better if we could get 50% as divident, 40% as reinvestment and 10% as loan repayment...
With 50% payin a 960BTC, how long will it take us? 3 months? and after 3 months, we have no reinvestment, we are down beloew 1% of the network... Prospects does not seem good...  

I understand that Cryptx are trying the best, but have a feeling their generocity might end up...
Also, i am looking forward for the Friday update with updated prospect.

Guys please explain why 960BTC?

You are missing point that we have already 537 btc mined.  It goes to this adrees  1LYfg4xS6Usde354g9i6YsbrNHyCnspby8   (reinvestment adress)
there was 150 from not spend reinvestment funds before IPO, 159 funds taken in first week without dividents, 227 btc from last week so it gives us 537 already mined for this loan.
And this week we should got around 120btc assuming 50/50 so only 960-537-120 = 303btc to pay after friday
assuming 120 is proper number for reinvestment we should pay loan 19.06

that is way I understand this correct me if I am wrong??


Cryptx could You please answer or comment latest questions we have?


1. Why there is 27 Dragon miners in prospect when according to Your weekly updates about our re-investment found  we bought 39, for what we spend 220btc?
2. What option of refund from cointerra will we have or maybe it was delivered already?
3. Explain situation with voting, why You ask for vote only shareholders > 5%, it can be use for insider traiding,now You did proper voting please comment if You plan to do it for each big decision ?
5. Did havelock own shares of PETA?
6. How will You use money from selling gear? It will be used as our re-investment founds, so loan left - found from selling miners = loan to pay after IPO or no?
7. Are money collected in adress 1LYfg4xS6Usde354g9i6YsbrNHyCnspby8 and this 307 which goes to 1B8XALjDtR4u1hvY2z2pAh3wyWu729wkdy are taken to pay loan so only around 960-537 = 303 btc left to pay?

[mikemikemike]

i can see through both your bullshit talk  

il leave it to PETA to show you your wrong, 35/65 is most likely what they will go forward with

i stand that PETA can ROI faster then other miners and thus grow with reinvestment's



i paid 3.5BTC for my 600GH/s Monarch, i will still be able to break even, considering the slowdown in difficulty increases. If i buy more hardware at peak BTC value, i can most certainly grow and make even more BTC, especially if this time i instead go for available hardware rather then pre-orders, at which point i can get my ROI sooner and and speed up the cycles by adding hardware as i get revenue instead of at the end of ROI break even.


ive done my own projections, i know for certain they are not reliable, just as yours you feel so confident of


AVOIDING GIViNG the TROLL MORE POSTS with EDIt dialog

i have grown impatient, i will not care to elaborate, if people are investing they should be able to think for themselves. they dont need mikemikemike telling them what is. throwing some fallacy's around i see, hogwash really
im tired of seeing the trio of non-shareholding disrupters coming in trying to saturate this thread with attitudes of holier then thou, we will now call you the divine trinity.


keep blabing and thinking you have the right answer
argumentum ad numerum of high degree of innacuracy

oh no! mikemikemike, pleas dont feel bad for me! lol
take your fake care and sympathy elsewhere

you sure made it personal with all your puppet profiles and the obvious intent of your many posts in something you hold no shares

i will fight against your intent to mislead PETA shareholders into thinking they should be more like CEX.io or cloudhashing or ButterfylLabs or B.MINE. Reinvestment's are critical to PETA purpose and function.

Agree, there is certainly a negative troll pattern emerging with certain accounts.

It's all BS. Look, ill leave it here. I've said my peice to try and educate you guys to the best possible outcome for shareholders. If the reinvestment percentage outweighs the dividends ill be back in three months when shit hits the fan and your all crying to remind you all you should have listened.

And FYI, the fact I have no shares makes me impartial. I'm only here because believe it or not, allot of the shareholders here respect what I've got to say, and because I know this business inside out.

Anyways, anon, its nice to see you've edited your post again to about three times the size it originally was. I wasn't joking about the above. Seriously. Your delusional. Sort your shit out and you'll stop losing money.

Peaceeee

PS: You'll realise everything I'm saying is correct if you just run the numbers.

[NotLambchop]

The funny thing is that I've already received 50% of my initial btc investment back in dividends and the share price is almost 2x what I initially paid. Yeah.. real bad investment. /sarcasm

Dear dhenson!
If you have invested a dollar in a scratch ticket, scratched it, and won two dollars, do not assume that you have discovered a surefire way to double your money.
Don't extrapolate future scratch ticket winnings from your two-dollar win.
Don't make purchase and scratching of scratch tickets your business plan.
Don't assume that PETA Mad Millions is better than other scratch tickets just because your winning ticket happened to be PETA Mad Millions.

Finally, don't assume you won two dollars before you cash out.  "You only lose if you sell" has a corollary:  You only win when you sell.

[ujka]

We might have had a chance if we had a big reinvestment fund waiting for the boom in July. However what cryptx have cleverly done is position it so that we got the loan during the run up to the boom when btc are cheap and we will have just about paid it back by the peak. Cryptx wins PETA loses. I am still holding because cryptx have been very reasonable in the past.

Thats what i am thinking... Like we got a loan in BTC when BTC price is low. and now we are repaying the loan instead of accumulating reinvestment fund for the july. It would be so much better if we could get 50% as divident, 40% as reinvestment and 10% as loan repayment...
With 50% payin a 960BTC, how long will it take us? 3 months? and after 3 months, we have no reinvestment, we are down beloew 1% of the network... Prospects does not seem good... 

As Karol pointed out, there is 540 btc in reinvestment fund from last weeks.

[karol]

I am wonder how strange is situation right now. There was sold 11286 shares at 0.095 and 0,0975 price so it gives 1075 btc.
Now we are trading at 0.072 so it is 25% below IPO and no one want to buy shares, only selling.
It is around 40btc in sell side to go to IPO price. So assuming someone spend 0.095 per share and don't want to spend 0,072???
What changed after IPO?

[ujka]

I am wonder how strange is situation right now. There was sold 11286 shares at 0.095 and 0,0975 price so it gives 1075 btc.
Now we are trading at 0.072 so it is 25% below IPO and no one want to buy shares, only selling.
It is around 40btc in sell side to go to IPO price. So assuming someone spend 0.095 per share and don't want to spend 0,072???
What changed after IPO?

ppl that bought at 0.05 IPO are now selling, with profit of 40-50%.
New buyers don't want in, because there is still not clear how much do we own for the loan, what the reinvestment percentage will be, and what to expect for dividends.

[spartan82]

I am wonder how strange is situation right now. There was sold 11286 shares at 0.095 and 0,0975 price so it gives 1075 btc.
Now we are trading at 0.072 so it is 25% below IPO and no one want to buy shares, only selling.
It is around 40btc in sell side to go to IPO price. So assuming someone spend 0.095 per share and don't want to spend 0,072???
What changed after IPO?

Could be a majority of things, people selling out to buy into AM seeing the low price per share there or as ujka just mentioned some want out from their original 0.05btc per share investment which is only fair, received great divs so far and selling out 1.5x higher than originally purchased.

[NotLambchop]

@karol:  Some of the folks who bought @ 0.095 diversified their portfolios with other blue chip holdings, like scratch tickets and interest in Panamanian gold mines; some were institutionalized, and the rest simply wandered off

[BiteMyShinyMetalAss]

We might have had a chance if we had a big reinvestment fund waiting for the boom in July. However what cryptx have cleverly done is position it so that we got the loan during the run up to the boom when btc are cheap and we will have just about paid it back by the peak. Cryptx wins PETA loses. I am still holding because cryptx have been very reasonable in the past.

Thats what i am thinking... Like we got a loan in BTC when BTC price is low. and now we are repaying the loan instead of accumulating reinvestment fund for the july. It would be so much better if we could get 50% as divident, 40% as reinvestment and 10% as loan repayment...
With 50% payin a 960BTC, how long will it take us? 3 months? and after 3 months, we have no reinvestment, we are down beloew 1% of the network... Prospects does not seem good... 

As Karol pointed out, there is 540 btc in reinvestment fund from last weeks.

This is just a speculation, what is on the update, that we own 960 BTC and this is going to be paid of from the mining...

[karol]

I understand that somene can sell it when bought it for 0.05 but it is still strange for me why there is not buying.
there was interest when it was 0,0975 - when market was opened during IPO someone even bought per 0,1. Now no interest at all.
OK people are waiting for voting results but for 100% it will be better than it was announced during IPO (when it was stated that almost all cash goes to loan) and even then people was buying.
in addition BTC price goes up so hosting % will be reduced. Maybe poople don't trust them after this 5% shareholder voting? Maybe someone knows something (assuming >5% shareholder) or someone drop price to buy more? Maybe becouse of terrible PR of Cryptx? asuuming that he is online every day and didn't posted any answer in this thread from 10 days people may be confused?

In Scrypt operation prices goes from 0.039 to 0.030 as well.

[Korbman]

[...]

i paid 3.5BTC for my 600GH/s Monarch, i will still be able to break even, considering the slowdown in difficulty increases [1]. If i buy more hardware at peak BTC value [2], i can most certainly grow and make even more BTC, especially if this time i instead go for available hardware rather then pre-orders, at which point i can get my ROI sooner [3] and and speed up the cycles by adding hardware as i get revenue instead of at the end of ROI break even.

[...]

[1]  -- This is technically true. If you paid nothing for electricity or space, had your Monarch in hand today, and focused on an optimistic difficulty increase over time, you'd break even by September of next year. Realistically speaking, however, no...your Monarch will never break even. 

[2]  -- Define "peak BTC value"? If you're able to define that, stop mining and get into currency trading.

[3]  -- Perpetually purchasing hardware doesn't create a faster return on investment...after all, there was a cost to purchase the hardware in the first place.

[coinhuddle]

I understand being unable to stomach a 1-2 year commitment to a mining company. This is a fair perspective to have, and you should sell.
But the selling happening is on the level of people reacting like Cryptx/PETA is Neo&Bee.

[Anotheranonlol]

[...]

i paid 3.5BTC for my 600GH/s Monarch, i will still be able to break even, considering the slowdown in difficulty increases [1]. If i buy more hardware at peak BTC value [2], i can most certainly grow and make even more BTC, especially if this time i instead go for available hardware rather then pre-orders, at which point i can get my ROI sooner [3] and and speed up the cycles by adding hardware as i get revenue instead of at the end of ROI break even.

[...]

[1]  -- This is technically true. If you paid nothing for electricity or space, had your Monarch in hand today, and focused on an optimistic difficulty increase over time, you'd break even by September of next year. Realistically speaking, however, no...your Monarch will never break even.  

[2]  -- Define "peak BTC value"? If you're able to define that, stop mining and get into currency trading.

[3]  -- Perpetually purchasing hardware doesn't create a faster return on investment...after all, there was a cost to purchase the hardware in the first place.

As far as 3 goes, there's a cost to purchasing hardware, there's also an amount that can be fetched by selling said hardware, despite them being depreciating assets. So if you buy coolbtcdiggingmachine at 1 btc, mine with it for 4 months until it's recouped 0.6 btc then sell it for 0.5 you've still made a btc denominated profit. You can choose to liquidate the hardware entirely and distribute profits as dividends or re-invest into alternative hardware that may be available at the time.

[spartan82]

People are forgetting the fact that cryptx has development teams producing their own miners, purchasing chips and being able to cut costs and save time waiting for working off the shelf miners in future. This will be PETA's success. You can whine all you like about not keeping up with difficulty but this will show in the near future that it is possible and miners aren't always losing, there actually are winners out there!

[karol]

People are forgetting the fact that cryptx has development teams producing their own miners, purchasing chips and being able to cut costs and save time waiting for working off the shelf miners in future. This will be PETA's success. You can whine all you like about not keeping up with difficulty but this will show in the near future that it is possible and miners aren't always losing, there actually are winners out there!

Not nessesary the case - they are selling chips, and this Loan is for buying bitfury bf3500.
If they will be able to introduce such amounts of TH they will not buy miners from bitfury, currently  only 220TH are produced by Cryptx. We even don't no how effective thoese  miner are (W/ghs)

[EdoBcn]

In Scrypt operation prices goes from 0.039 to 0.030 as well.

True, after going low to 0.026, they are getting "better" at around 0.03, still, way below IPO.
On top of all possible variables of PETA, Scryptx also has the Litecoin (Doge?) exchange rate to btc.

But looks has the same feeling of PETA before the whole mess with new IPO, Cryptx buying shares from a whale, and the rest.

One of the big disadvantages of going to mining, was always the "pre-order" issue. I was attracted to PETA for the pre-order deal they already had in place, PLUS the unit producing capacity. Doesn't seem we diverted much from that.

For all the calculation and "run your numbers" comments, Mike is right, run your numbers, take your guess, bet on your guesses, then do what you have to.
Btc increasing, lower (&cheaper) fees, price above IPO, machines arriving and being deployed, huge mining power.

but at the same time, the increase of btc makes profitable again for old miners to re-plug their machines and start mining again (for a while).

At current difficulty, our single share mining capacity, minus fees (cheaper ones), minus reinvestment funds, hell yes if it's profitable. This week. Maybe next one. Maybe even the following 10 weeks.

With current numbers, I have a 16% capacity of reinvestment. If the difficulty stays there, around 15%, the whole project is viable. If it goes back to the usual 20%, we are doomed. Not tomorrow, not next week, not even next month. But for sure something (new IPO?) will need to happen in less than an year.

I think PETA current shareprice (and Scryptx!) is quite appealing, if you can imagine that you will be able to sell out in time.
Right now you wouldn't be able to sell massively on any of the two.
The only way was to attract fresh investors in this scheme. But nothing happened. Second IPO failed. Both projects are running below IPO prices.
And we have Havelock answering for Cryptx as he is busy...

[EdoBcn]

http://www.bitcoinx.com/profit/

Hardware break even   never
Net profit first time frame   -107.97 USD

[BiteMyShinyMetalAss]

http://www.bitcoinx.com/profit/

Hardware break even   never
Net profit first time frame   -107.97 USD

Note, we have have different price, so you should reajustd your profit calculation. 


Just summary from the prospecutus:
 1 CryptX has secured a large contract with Bitfury to deliver 1,000 TH/s of the best mining equipment currently on the market.
 2 In addition, the company will keep costs of new hardware low by means of its significant purchasing power.
 3 When necessary, we will replace hardware with more power efficient equipment; this way we decrease electricity costs of the mine even further.

So Cryptx will not produce mining equipment, but rather uses a buying power to get the cheapest prices. Additionally, miners will be constantly updated for the new hardware. In this case we dont have to care if bought hardware would make ROI over its life time.

[Puppet]

[1]  -- This is technically true. If you paid nothing for electricity or space, had your Monarch in hand today, and focused on an optimistic difficulty increase over time, you'd break even by September of next year. Realistically speaking, however, no...your Monarch will never break even. 

You forgot to ask a small detail: when will it be delivered? Its not gonna be today like in your simulation, I very much doubt it will be this month.


As for this loan; people dont seem to wonder why cryptx so desperately wants to see this load repaid asap and before anything else. Clearly he only wants to (re)invest with your money, and not his own.

[Anotheranonlol]

As for this loan; people dont seem to wonder why cryptx so desperately wants to see this load repaid asap and before anything else. Clearly he only wants to (re)invest with your money, and not his own.

If I was cryptx and I wanted a loan paid back ASAP, Dividends would be withheld completely, instead they resume this Friday.