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

[howardb]

Thats my exit also, been a nice ride +40%, but communication isn't good enough, liquidity isn't good enough, shareholder democracy is not good enough and the relationship between Cryptx and the project is too open to one sided abuse. Just my opinion. Good luck in the future guys, i'll be looking in to see how wrong I was (usually am when it comes to investing!).

cheers

H

[bit-joker]

It says around 70% is paid in dividends and 30% reinvested in mining hardware.

I'm wondering, how much is used for maintenance costs?

[ujka]

It says around 70% is paid in dividends and 30% reinvested in mining hardware.

I'm wondering, how much is used for maintenance costs?

It's 50-50 now. 50% of net profit for dividends, 50% for reinvestments. But reinvestment is 'on hold' for 6-7 weeks more, because we have to pay-back the last loan.
Maintenance fee is $0.25/kWh, it's in fiat, how much it's in btc depends on btc value,  yesterday was about  74.58 btc, or 22%
See this week payouts:

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

[Puppet]

It's 50-50 now. 50% of net profit for dividends, 50% for reinvestments. But reinvestment is 'on hold' for 6-7 weeks more, because we have to pay-back the last loan.

More like 8-9 weeks, assuming a continuation of 7% weekly network growth trend (in reality it will likely accelerate in the coming weeks, due to AM) :



BTW, hilarious that some of the big boosters that accused me of trolling,  yet were unwilling to bet, and got out now on the first opportunity.
Draw your own conclusions.

[cryptoconomist]

1) stop dividend payment until we have reimburse our loan

2) make our own mining pool 

3) Improve the statistics page

4) Sell the remaining shares

[BiteMyShinyMetalAss]

1) stop dividend payment until we have reimburse our loan

2) make our own mining pool 

3) Improve the statistics page

4) Sell the remaining shares

Agree!

[altoidmintz]

1) stop dividend payment until we have reimburse our loan

Disagree!

[nwfella]

1) stop dividend payment until we have reimburse our loan

Disagree!

Strongly disagree!  Stopping dividends at this point i believe would be catastrophic for existing shareholders.  Great for new fellas looking to get in on the cheap obviously but no good for those of us that bought in awhile ago.  Confidence in cryptx isn't all that high atm imho.

*BTW, anybody else having issues with the stats page?

[cryptoconomist]

1) stop dividend payment until we have reimburse our loan

Disagree!

Strongly disagree!  Stopping dividends at this point i believe would be catastrophic for existing shareholders.  Great for new fellas looking to get in on the cheap obviously but no good for those of us that bought in awhile ago.  Confidence in cryptx isn't all that high atm imho.

*BTW, anybody else having issues with the stats page?

Lets just wait a few weeks then no one will get any dividend, no more ghz increase and there will be no buy support till 0.001 per shares...

Gr8 plan

Edit: we will sell our shares if their is not a clear and sustainable plan in the next 2 weeks (1 more difficulty jump after this one that's already likely 30% increase in 17days. 13,209,839,729 (+12.36%) in 4 days)

[BiteMyShinyMetalAss]

Well, whats the point having shares in the mining company if you dont get dividend? Previous IPO failed, if not failure to sell shares, we would be in a  great positoin right now. Instead of paying the loan, IPO should somehow be revoked and continued, maybe more publicity and perhaps better deal.

I would not want dividend to stop going as well.

[cryptoconomist]

Well, whats the point having shares in the mining company if you dont get dividend? Previous IPO failed, if not failure to sell shares, we would be in a  great positoin right now. Instead of paying the loan, IPO should somehow be revoked and continued, maybe more publicity and perhaps better deal.

I would not want dividend to stop going as well.

make it 10% for 2 weeks then we are back on track and we can buy more hashing power or at least increase our fund to buy a big order soonish not in 8 weeks like we are on now...

I have invested a large amount of BTC, I want it to succeed in the long run.

greed is our worst enemy now and people who argue for a 50% div. just want to sell their shares at top dollars

[Anonymousg64]

It's 50-50 now. 50% of net profit for dividends, 50% for reinvestments. But reinvestment is 'on hold' for 6-7 weeks more, because we have to pay-back the last loan.

More like 8-9 weeks, assuming a continuation of 7% weekly network growth trend (in reality it will likely accelerate in the coming weeks, due to AM) :



BTW, hilarious that some of the big boosters that accused me of trolling,  yet were unwilling to bet, and got out now on the first opportunity.
Draw your own conclusions.

if they cant make ROI and turn that into growth I dont see how any miner could.
if every new hardware period you made ROI+ from the previous hardware, how can you not grow?

so ya i still believe in PETA, i stated my reason for leaving, bitcoin is going to 6000-10000 or might even break that cycle this year with a mass exodus of adopters finally taking the plunge into bitcoin and reach the expected 1 million dollar / BTC mark (based on liquidity needs for large population)

[_biO_]

so ya i still believe in PETA, i stated my reason for leaving, bitcoin is going to 6000-10000 or might even break that cycle this year with a mass exodus of adopters finally taking the plunge into bitcoin and reach the expected 1 million dollar / BTC mark (based on liquidity needs for large population)

I understand that this is eventually a possibility, but for 2014 it is borderline insane to assume a price like that.

[Puppet]

if they cant make ROI and turn that into growth I dont see how any miner could.

Historically, almost no asic miner ever achieved a positive BTC denominated ROI, and going forward that is not going to change. (I am talking about people or companies buying retail products, not private mines producing their own asics, much less people smart enough to sell their hashrate)

That said, if you think peta could possibly achieve  a positive ROI with hardware costing nearly 5BTC/TH and $0.2/KWH or whatever electricity,  then consider this:

http://minersource.net/collections/frontpage/products/rockminer-crossbow-440-440gh-bitcoin-miner

Thats closer to 2.5 BTC/TH and can be run in datacenters with $0.02/KWH. Clearly if PETA is even able to break even, then that rockminer is a gold mine that will nearly double your investment. Now guess what would happen if that were true? Who wouldnt buy something that will double their investments? Everyone and their dog would buy as many of these as they could get their hands on, but keep in mind AM has 60PH on its way for this month and possibly 100PH in the next month. The result is inevitable, difficulty will shoot up so high that even those rockminers will on average at best be marginally profitable, except maybe for some lucky early buyers if rockminer/AM would have trouble keeping up with demand.  So if even these rockminers are not likely to achieve a significant positive ROI,  where does that leave PETA?

You people just dont seem to get this is a zero sum game and a race to the bottom at the same time. There is no way to win this race, not by buying hardware anyway.

so ya i still believe in PETA, i stated my reason for leaving, bitcoin is going to 6000-10000 or might even break that cycle this year with a mass exodus of adopters finally taking the plunge into bitcoin and reach the expected 1 million dollar / BTC mark (based on liquidity needs for large population)

ROFL. Im not sure which of both pipedreams I consider less laughable, PETA breaking even or BTC breaking 1 million dollar this year..

[Korbman]

if they cant make ROI and turn that into growth I dont see how any miner could.

[...]

Ah, exactly! And just like that, you've caught a glimpse of what it's like to run a publicly funded mining farm.

[...]

Thats closer to 2.5 BTC/TH and can be run in datacenters with $0.02/KWH. Clearly if PETA is even able to break even, then that rockminer is a gold mine that will nearly double your investment. Now guess what would happen if that were true? Who wouldnt buy something that will double their investments? Everyone and their dog would buy as many of these as they could get their hands on, but keep in mind AM has 60PH on its way for this month and possibly 100PH in the next month. The result is inevitable, difficulty will shoot up so high that even those rockminers will on average at best be marginally profitable, except maybe for some lucky early buyers if rockminer/AM would have trouble keeping up with demand.  So if even these rockminers are not likely to achieve a significant positive ROI,  where does that leave PETA?

You people just dont seem to get this is a zero sum game and a race to the bottom at the same time. There is no way to win this race, not by buying hardware anyway.

This. 1000 times, this.

It's a perpetual cycle of perceived returns, ultimately leading to a loss for many people. There are very, very few people who profited quite well off of mining, mainly from the early days when ASICs first started coming out (think of the first Avalon or ASICMiner units, back when difficulty was still under 5M).

Since then it's been: Pay BTC5.0 for a miner. First month, mine BTC2.5 ..second month, mine BTC1.25 ..third month, mine BTC0.625 ...etc, etc. It's a trend that won't continue forever, sure, but until there's a plateau in hardware development we can probably expect to see a similar pattern for a while.

[dhenson]

ROFL. Im not sure which of both pipedreams I consider less laughable, PETA breaking even or BTC breaking 1 million dollar this year..

Puppet, I'm tempted to fill your bids so we can have another week without you in our thread.  Your game is getting tiring.

[Puppet]

Puppet, I'm tempted to fill your bids so we can have another week without you in our thread.  Your game is getting tiring.

My bids ? Lol. Lend me your shares or accept my bet and Ill stay away for a week. Deal?

[Collider]

@cryptx

https://bitcointalk.org/index.php?topic=651819.0

This is a guide for setting up a p2pool node, including nmc, dvc and ixc merged mining.

[stompysteve]

Since then it's been: Pay BTC5.0 for a miner. First month, mine BTC2.5 ..second month, mine BTC1.25 ..third month, mine BTC0.625 ...etc, etc. It's a trend that won't continue forever, sure, but until there's a plateau in hardware development we can probably expect to see a similar pattern for a while.

You forgot about where we sell the miner after three months

[Puppet]

Since then it's been: Pay BTC5.0 for a miner. First month, mine BTC2.5 ..second month, mine BTC1.25 ..third month, mine BTC0.625 ...etc, etc. It's a trend that won't continue forever, sure, but until there's a plateau in hardware development we can probably expect to see a similar pattern for a while.

You forgot about where we sell the miner after three months

Id appreciate if you quoted correctly and not put someone else's words in my mouth.

That said, selling hardware doesnt change  anything at all. On average hardware depreciates just as fast as difficulty goes up.   To illustrate,  last august, cryptx first IPO was for 20TH, 10K shares at 0.65BTC per share. That means, ~325 BTC/TH. Right now,  Cryptx is valued at 4.7 BTC/TH and rockminer hardware is about to hit retail market at around 1.7-2.5 BTC/TH. Can you spot the pattern?

Whatever residual value you get for your used hardware, I dont see how you would expect to buy more hashrate with it.