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

[webbrowser]

That said, your numbers dont quite add up either. At todays difficulty, which has been in effect since the end of last dividend,  1150TH will yield ~300 BTC per week, minus 73 hosting is ~227 BTC for this friday. Next difficulty is projected to be 17B which would result in ~238-73=~166 BTC. Okay probably a little more next week, since a few days will be mined with todays difficulty, but the week after that it will be in full effect, and difficulty might have gotten another increase.

Maybe I'm wrong about this, but...  the difficulty level tells how hard it is to find a block; from this we can also calculate expected interval between finding blocks.  But this assumes that the network hashrate remains constant since the last difficulty adjustment.  In reality, the expected mining returns would trend more closely with network hashrate, especially if the hashrate increases significantly. 

Correct?

[Puppet]

Maybe I'm wrong about this, but...  the difficulty level tells how hard it is to find a block; from this we can also calculate expected interval between finding blocks.  But this assumes that the network hashrate remains constant since the last difficulty adjustment.  In reality, the expected mining returns would trend more closely with network hashrate, especially if the hashrate increases significantly.  

Correct?

Its the other way round. Difficulty is a number that determines what the odds are to find a block with a given hashrate. Average time in seconds is: difficulty * 2^32 / hashrate.

Difficulty is tuned so the entire network on average will find one block every 10 minutes. But if the overall network hashrate is bigger than before the previous adjustment,  more blocks will be found than once every 10 minutes and so overall block generation time goes down, which will cause the next difficulty to rise. But your individual block generation time for your particular hashrate remains exactly the same until the difficulty changes.

Block generation time is currently  8.3 minutes (500 block avg), which will cause the next difficulty to go up by an estimated ~25-26%. As a result, your mining revenue per GH will drop proportionally and instantly once the new difficulty sets in. For petamine bag holders, that  means  your dividends will go down by an even larger fraction, since hosting fees dont scale with dividends. Oh and that 25% is on top of the previous 14.5% decrease which you havent felt yet.

[fonsie]

To all those who have sold their shares well below the initial IPO price, and to those who are selling anywhere near the initial IPO price:



You are all being very weak minded, numbers and calculations are great, but you are forgetting many variables of outcome. I feel sorry for all those who have sold where they have yesterday and are selling at today. However, you have made many people happy. Hopefully the karma comes back on you all lol. As for people "who we shall not name" continue to spread FUD and harm this project for personal gain I question you all, did you have fun yet? (Rhetorical question, don't bother to answer.) In any case, stop being weak people, is this really all it takes to break the 'trust' in this project?


Be stronger than that. Things are no where near detrimental yet.  

Do not believe this, he's pumping up his shares so he can dump at a higher price.


There's only 1 solution to keep the price from dropping all the way to zero.

A well outlined action plan from cryptx about how they are going to tackle all the problems... with.... wait for it... correct math.

[jonsi]

To all those who have sold their shares well below the initial IPO price, and to those who are selling anywhere near the initial IPO price:



You are all being very weak minded, numbers and calculations are great, but you are forgetting many variables of outcome. I feel sorry for all those who have sold where they have yesterday and are selling at today. However, you have made many people happy. Hopefully the karma comes back on you all lol. As for people "who we shall not name" continue to spread FUD and harm this project for personal gain I question you all, did you have fun yet? (Rhetorical question, don't bother to answer.) In any case, stop being weak people, is this really all it takes to break the 'trust' in this project?


Be stronger than that. Things are no where near detrimental yet.  

Yeees, be strong, be a "true" investor and like a true captain go down with the ship!

[NotLambchop]

^

...
Once human, now broken by grief.  Descending into madness before sinking beneath the waves.

Well, here we are, Gentlemen.  Be British, or every man for himself.

Titanic.gif, Gentlemen.  Titanic.gif.

[runam0k]

I suppose we should all be congratulating whoever sold their shares at ~ HALF the current market rate.

[NotLambchop]

Depends.  First real buy support is @.021.  The old saw "you don't lose until you sell" cuts both ways--you don't win until you sell, either.

[blizeH]

Quick, everyone hurry up and sell so that jonsai/Puppet can buy your shares on the cheap.

[spartan82]

Quick, everyone hurry up and sell so that jonsai/Puppet can buy your shares on the cheap.

Fuck all buy support anyway, should drop again bigtime im sure. A sell off of ~400 shares would see it down to 0.025 in an instant

[runam0k]

Depends.  First real buy support is @.021.  The old saw "you don't lose until you sell" cuts both ways--you don't win until you sell, either.

True, but there was plenty of liquidity and support.  He was just being lazy and chewed straight through it.  He left BTC on the table.  Maybe he was in a rush to get somewhere, I don't know.

[webbrowser]

Maybe I'm wrong about this, but...  the difficulty level tells how hard it is to find a block; from this we can also calculate expected interval between finding blocks.  But this assumes that the network hashrate remains constant since the last difficulty adjustment.  In reality, the expected mining returns would trend more closely with network hashrate, especially if the hashrate increases significantly.  

Correct?

Its the other way round. Difficulty is a number that determines what the odds are to find a block with a given hashrate. Average time in seconds is: difficulty * 2^32 / hashrate.

Difficulty is tuned so the entire network on average will find one block every 10 minutes. But if the overall network hashrate is bigger than before the previous adjustment,  more blocks will be found than once every 10 minutes and so overall block generation time goes down, which will cause the next difficulty to rise.

This is also what I understand, up to this part.

But your individual block generation time for your particular hashrate remains exactly the same until the difficulty changes.

Here's where my understanding differs.  
1. Block generation is probabilistic, so the generation time varies due to many factors.  <-- correct?
2. When someone else publishes a block, all work we've previously done is wasted and we need to base our calculations on the new block.  <-- half correct?
3. In addition, we wasted a small amount of effort (spent calculating on old data) that is proportional to latency <-- correct but usually insignificant?
4. Therefore, we are competing against the entire network hash, and our expected returns inversely varies closer to network hash than difficulty.  <-- this is what i'm unsure about
5. Even if the above reasoning is wrong, a thought experiment shows that the conclusion must be correct.  If network hash rate somehow doubles right after a difficulty adjustment, it is clear that our expected return will approximately halve even before the next difficulty adjustment.

[Puppet]

Here's where my understanding differs.  
1. Block generation is probabilistic, so the generation time varies due to many factors.  <-- correct?
2. When someone else publishes a block, all work we've previously done is wasted and we need to base our calculations on the new block.  <-- half correct?
3. In addition, we wasted a small amount of effort (spent calculating on old data) that is proportional to latency <-- correct but usually insignificant?
4. Therefore, we are competing against the entire network hash, and our expected returns inversely varies closer to network hash than difficulty.  <-- this is what i'm unsure about
5. Even if the above reasoning is wrong, a thought experiment shows that the conclusion must be correct.  If network hash rate somehow doubles right after a difficulty adjustment, it is clear that our expected return will approximately halve even before the next difficulty adjustment.

Let me start by point 5, which is completely wrong. Your return will remain (virtually) identical for the next ~2000 blocks.  I gave you the formula, it doesnt change with network speed, nor block generation speed, all that matters is your hashrate vs current difficulty. That gives you the probability of solving a block, nothing else. Of course if you double the network speed, the next difficulty adjustment will increase by a factor of 2x and it will happen twice as fast. But until then, your revenue per GH remains the same. Difficulty trails network speed, and therefore, as long as the network grows, we are mining more than the "planned" 25 BTC / 10 minutes. As has been happening for years now.

The chance of producing an orphan or stale block always exists, but assuming a decent network connection, its on the order of <1% . I guess theoretically that number will increase if block generation speed increases, but thats not something you would ever experience and is completely statistical noise compared to all the rest. Besides, it would apply to everyone solving blocks, so it would again reduce block generation speed proportionally. TLDR; it doesnt matter. Difficulty and hashrate are all that matter.

[jonsi]

Quick, everyone hurry up and sell so that jonsai/Puppet can buy your shares on the cheap.

I don't own shares of peta and never did and never will (maybe if i receive it for free). I don't even have any funds on Havelock. I stated that the price for ScryptX was overestimated and will only go down right from the IPO (do you thing I wanted to to buy lower IPO shares? ). My only motive is that I'm sick and tired of all this vampires sucking the blood of naive bitcoiner with this kind of "investment oportunities" , but no reason to trust me, do as you feel is best for you.

[ateneto]

I really enjoy this thread.
I sold at 0.08 some weeks ago before the new IPO.
Bought back in since some people here are obviously working on suppressing the price.

I left and bought my own miners because I thought I could outperform this project. I would like to tell you guys about my experience.
Although I got my hardware right away: It doesn't run well and needs constant supervision.

Result: If you want to invest in mining buying mining bonds is much better than buying hardware.
No maintenance, no hassle, just weekly returns...

In my opinion all Bitcoin related predictions are absolutely irrelevant.
The future of Bitcoin can not be predicted by any mathematical equations.
The future of mining is going to be projects like the Petamine. Since the management team of this project has proven to be trustworthy and professional I believe in the success of this project.

Another IPO is of course possible. Of course it is also possible that the share price remains low.
This is still a very small investment here. Difficulty increases will not continue at this rate forever.

Panic selling and panic buying... is what the sharks are profiting from.
Keep your cool and do your own homework.

[ChevaL]

I really enjoy this thread.
I sold at 0.08 some weeks ago before the new IPO.
Bought back in since some people here are obviously working on suppressing the price.

I left and bought my own miners because I thought I could outperform this project. I would like to tell you guys about my experience.
Although I got my hardware right away: It doesn't run well and needs constant supervision.

Result: If you want to invest in mining buying mining bonds is much better than buying hardware.
No maintenance, no hassle, just weekly returns...

In my opinion all Bitcoin related predictions are absolutely irrelevant.
The future of Bitcoin can not be predicted by any mathematical equations.
The future of mining is going to be projects like the Petamine. Since the management team of this project has proven to be trustworthy and professional I believe in the success of this project.

Another IPO is of course possible. Of course it is also possible that the share price remains low.
This is still a very small investment here. Difficulty increases will not continue at this rate forever.

Panic selling and panic buying... is what the sharks are profiting from.
Keep your cool and do your own homework.

You are right, I almost feel bad for what happened last night, a 50%+ drop in value turned out to be REALLY profitable for some of us. I said it before in this thread, graphs and numbers cant predict surprises and miracles. Play the game, stop talking about it!

[NotLambchop]

0.04399999.  Back down you go, gentlemen.  I believe the correct technical jargon I'm looking for is "lol."

[MPalokaj]

To all those who have sold their shares well below the initial IPO price, and to those who are selling anywhere near the initial IPO price:

https://i.chzbgr.com/maxW500/239576320/hE1CB5DD4/

You are all being very weak minded, numbers and calculations are great, but you are forgetting many variables of outcome. I feel sorry for all those who have sold where they have yesterday and are selling at today. However, you have made many people happy. Hopefully the karma comes back on you all lol. As for people "who we shall not name" continue to spread FUD and harm this project for personal gain I question you all, did you have fun yet? (Rhetorical question, don't bother to answer.) In any case, stop being weak people, is this really all it takes to break the 'trust' in this project?


Be stronger than that. Things are no where near detrimental yet.  

Sweet jesus, does anyone even look at the orderbook before freaking out?

The sum of the shares for sale under 0.07 is 2% of the total...

I don't really mind what happens too much (long run and all that), but let me say for the more nervous forum readers:

1. The share price does not reflect value, it reflects emotion and opinion
2. The shares for sale on Havelock are FAR below the amount of shares out there
3. The above means that a lot of people simply aren't even interested in selling their shares
4. There is a reason the Cryptx team stopped looking at this forum, too much BS
5. Use your brain, never sell or buy based on emotion. Take a day of thinking and research before you sell/buy unless you are a speculator (in which case, happy hunting these last few days)

I'm going to stop looking at this thread too, at least for a while. Too much panic and unconstructive argument for my taste.

[NotLambchop]

...
1. The share price does not reflect value, it reflects emotion and opinion

That's one of the reasons why it's not ~.02.  People simply can't come to terms with the scale of their mistake.
Hard to accept that so much of their coin has evaporated so fast.
It's called denial.  It's a stage.  It will pass.

[aatt44zz]

If it did reflect value, it would be at about .02 at the highest.

The current price reflects that somehow this security is going to become profitable in the long term. The mine hash speed has to get ahead of the bitcoin network hash curve... I just don't see how that can be achieved. Someone please step in and show me some numbers. I can take being wrong, but I just don't see it. The amount of risk in PETA is astronomical.

The only answer is drastically lower hosting costs and access to mining hardware at cost.

[Puppet]

1. The share price does not reflect value, it reflects emotion and opinion

Not too mention: ignorance, delusion and blind faith in the greater fool theory/

Now generally, I would actually agree that share price isnt that important, especially if you are a long term investor. But please do the math on what the long term could possibly offer you besides the current bid book. Maybe thats when your eyes will open.