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

[jjdub7]

Is it just bad luck?

In a >40% pool and with a sample size of more than 1008 blocks? Has to be very, very bad luck.

Previous week was very lucky one. That spike on network hashrate charts from a week ago is massive luck, followed with not such a lucky week now. Check ghash.io payouts on 1st and 2nd...

True. I guess the week before that was just lucky, too.

0.0017 is actually more or less exactly what to expect (on average) with our hashrate and hosting costs at the moment.

Somewhat related - why is the forex rate falling if the inflation rate is down (on miners' luck) this week?  Remember that demand for Bitcoin had to be rising equally to match the mint rate in order for the price to have been relatively constant the last couple of weeks...I guess it could always be whales manipulating the price on the exchanges

hashrate doesn't drive price, but price drives hashrate.

Right - drives variable costs down from electricity cost and makes reinvestment costs fall as well.  But before, when the price/forex rate was stable, that mean that demand for bitcoin had to be increasing at the same rate that new coins were minted (at least in theory) - and this is keeping in mind during the last difficulty cycle the network had great luck, as evidenced by the boom in blocks found and the effective hashrate climbing well over 100PH.

So what I want to know is what economic factors have influenced the dropoff from demand (assuming there has in fact been a dropoff) that caused the price to dip again?

[Aireun]

We didn't mine 400 Bitcoin! Dvis will be less!


....oh well

[Draino]

https://bitcointalk.org/index.php?topic=62842.0

the reinvestment portion could be taken from immature coins so as to not disrupt dividend payout while things get going

USB flash drives that can house the entire blockchain + OS necessary for p2pool are around 50 bucks (for the fancy ones)

even if you don't care about this from a morality standpoint, it would be a nice marketing angle

"merged mined!  0% fees!  cloud mining without the evil!"

edit:  wrong link

not to mention the goodwill of infusing p2pool with so much hashpower, i'm sure a reddit post about moving x petahash to p2pool would get some attention

k, so go ahead.

[ngc1952tau]

Is it just bad luck?

In a >40% pool and with a sample size of more than 1008 blocks? Has to be very, very bad luck.

Previous week was very lucky one. That spike on network hashrate charts from a week ago is massive luck, followed with not such a lucky week now. Check ghash.io payouts on 1st and 2nd...

True. I guess the week before that was just lucky, too.

0.0017 is actually more or less exactly what to expect (on average) with our hashrate and hosting costs at the moment.

Somewhat related - why is the forex rate falling if the inflation rate is down (on miners' luck) this week?  Remember that demand for Bitcoin had to be rising equally to match the mint rate in order for the price to have been relatively constant the last couple of weeks...I guess it could always be whales manipulating the price on the exchanges

hashrate doesn't drive price, but price drives hashrate.

Right - drives variable costs down from electricity cost and makes reinvestment costs fall as well.  But before, when the price/forex rate was stable, that mean that demand for bitcoin had to be increasing at the same rate that new coins were minted (at least in theory) - and this is keeping in mind during the last difficulty cycle the network had great luck, as evidenced by the boom in blocks found and the effective hashrate climbing well over 100PH.

So what I want to know is what economic factors have influenced the dropoff from demand (assuming there has in fact been a dropoff) that caused the price to dip again?

While what you're saying make sense, I'm not sure if the correlation between block generation and price is so close as to be impacted by a week or two of higher-than-average block generation. I guess it would depend on how many of those extra coins were converted and how many were hoarded. Also consider there were some positive news announcements recently which might have had some effect on demand.

As for the recent price decline, I think it's often tempting to assign news too much credit for price movement, but in this case I think the recent announcment of the govt auctioning off 30,000 bitcoins on June 27th definitely has a negative impact. I can't see how this trend could reverse until after the auction..

[aleph0]

Assuming the exact same hosting costs, we are looking at a dividend of 0.00155588 (maybe a little more with converted NMC).

Would someone mind reposting the link to the current stats page for PETA's mined BTC? I can't find it on their site (or in a quick search of this form) and only had the old Eligius link bookmarked. Much thanks.

[_biO_]

Assuming the exact same hosting costs, we are looking at a dividend of 0.00155588 (maybe a little more with converted NMC).

Would someone mind reposting the link to the current stats page for PETA's mined BTC? I can't find it on their site (or in a quick search of this form) and only had the old Eligius link bookmarked. Much thanks.

https://blockchain.info/address/1PETAmNrgdzx3FwzJPNuhx18JVKdGtwWt6

New estimate: 0.00167209

Edit: Actual dividend: 0.00168724

[ujka]

 130.74756539 btc moving for dividends, 0.00168724/share

336.08133768 BTC in total from mining

 - 130.74756539 BTC as dividend (0.00168724 BTC/share)
 - 130.74756539 BTC as payment for hardware (670.556213 BTC remaining)
 - 74.58620690 BTC as hosting fee

[crino]

June 13th, 2014 - Details about this week’s dividend payout:

336.08133768 BTC in total from mining

- 130.74756539 BTC as dividend (0.00168724 BTC/share)
- 130.74756539 BTC as payment for hardware (670.556213 BTC remaining)
- 74.58620690 BTC as hosting fee

With Ghash.io pool fluctuating between 40% and 50% of market share we are looking to set up our own pool (p2pool) or divide our hashrate over several pools, we will do some testing and experimenting before making a switch/final decision. Several criteria are important:
-   Pool variance: A small pool has much more variance which has a direct effect on block finding and payout.
-   Merged mining: pool should at the least allow merged mining for NMC
-   Pool stability: pool should be stable, protected against DDoS attacks, no network latency, efficient work distribution etc.

Of course, the most important thing is that the Bitcoin eco-systems remains healthy, and to avoid a 51% attack.


Have a nice weekend,

Team CryptX

[_biO_]

http://www.reddit.com/r/Bitcoin/comments/282j4m/petamine_1150_ths_is_considering_joining_p2pool/

Let's make it happen!

[Elvis Trout]

Recent price drop is thought to be whales preparing for the FBI's silkroad btc auction

[Morguk]

Decided to sell my remaining shares. I don't own that much BTC and even though I think PETA is still a good investment, I can't afford to take any risk. Enjoy ya'll!

[Anotheranonlol]

http://www.reddit.com/r/Bitcoin/comments/282j4m/petamine_1150_ths_is_considering_joining_p2pool/

Let's make it happen!

Trending number 1 at /r/bitcoin.
Not bad.

[vaguhs]

Here is my thought on the last update.
A Peta-mine P2P pool will be a great support of the community and a great marketing source.
Based on the reddit thread it is a highly popular move.

Lets make this happen as soon as possible.

Quote "We want this project to become big, we want to create value and become a large player"

This is how you do than .
If you want to be a major player ACT like one.

[BiteMyShinyMetalAss]

So we have to move to a new pool pretty quickly. Reddit is on fire! 

[Collider]

Bitfury moved most of his "own" hardware off gh, and it is at 43% again.

However, i would support a petamine p2pool node.

Does anyone know wether merged mining can be implemented with that? 

[_biO_]

A new PO in a month or two (or as soon as an investment makes sense) could be quite successful. Aggressively advertise the p2pool move, new hardware additions and the 100% green energy aspect. Petamine needs to be the first big mover towards "a new way of mining". We could see a siginificant migration from ghash to petamine.

Also, havelock has some growing up to do, technology and image wise.

[loanexpress]

I'm one of the "Reddit guys", stoking up some fires over there, and only bought into PETAMINE today. I you guys are right... change the pool and MARKET MARKET MARKET. And maybe even move the next IPO up if at all practically possible.

In sales you have to strike while the iron is hot!

Happy to be here!

[Anonymousg64]

finally got an exit opportunity, PETA is great, invest if you dont believe in the bitcoin value cycle

i think bitcoin will reach x10 within the next 2 months, that wont be great for shareprice, for historical reference look at AM100 chart

il be back for the BTC value crash, thats when securities are most profitable

[ujka]

Bitfury moved most of his "own" hardware off gh, and it is at 43% again.

However, i would support a petamine p2pool node.

Does anyone know wether merged mining can be implemented with that? 

It can be implemented.
A Complete Guide to P2Pool - Merged Mining (BTC/NMC/DVC/IXC/I0C) plus LTC, Linux
https://bitcointalk.org/index.php?topic=62842.0

[dvdrewritable]

Looking to buy a large number of shares, preferably in one batch.
PM offers.