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

[cryptoconomist]

yep

So Puppet = Muppet and a false Prophet

 

[NotLambchop]

You guys are as predictable as labcoiners.  Any word from your master, good or bad--price spikes ...and deflates over the next day as reality seeps back in

[Puppet]

yep

So Puppet = Muppet and a false Prophet

 

Ill put my predictions next to those of anyone in this thread. For the record, here is my first spreadsheet:
https://bitcointalk.org/index.php?topic=310783.msg7396854#msg7396854



Those numbers are damn near spot on, considering I didnt try to guess when difficulty changes would occur and just calculated averages per week. We are now in week 4, for which I had predicted 15.2B difficulty and 0.0012 BTC dividends. In reality its 16,8B difficulty and 0.0011 BTC dividends. Next week difficulty will likely remain the same and my prediction of 16.2B will be off by a full  4%. Also note that I was  too optimistic, as predicted.
So, who did better?

[cryptoconomist]

Are you a prophet?

Around here, being able to do a long division gives you all the mystical powers of a prophet. So yeah, to you, I am indeed a prophet.

you have no idea what Cryptx might do next

You mean, there isnt a contract he is supposed to respect?
There isnt a satoshi in the reinvestment fund, there is a frigging big loan that is already acutely in danger of never getting paid back. Short of closing shop and running away there is nothing unexpected he could do unless  his name is santa claus..

I told you already you are a Muppet and a false prophet

Enough is enough

keep you prophecies for yourself we all know the risk and math behind this project

thanks,

[jimmothy]

I told you already you are a Muppet and a false prophet

Enough is enough

keep you prophecies for yourself we all know the risk and math behind this project

thanks,

Seriously puppet why are you OBSESSED with PETAMINE?

Everyone knows how to put numbers in to a bitcoin mining calculator and we all know that "doing the math" is just about as accurate as fortune cookies are.

Sure peta was way overvalued and overpaid for HW and hosting but as far as I know nobody asked you to look in to your magic ball and tell them how unprofitable PETA will be EVERY SINGLE DAY.

[Puppet]

Everyone knows how to put numbers in to a bitcoin mining calculator and we all know that "doing the math" is just about as accurate as fortune cookies.

If anyone could put the numbers in, how come everyone overbought the IPO by pretty much a factor 10x? How come nearly no one took my numbers seriously when I posted them?

Sure peta was way overvalued and overpaid for HW and hosting

Sure, now you know. Just not yet by how much it still is overvalued. Just like now you know Labcoin was a scam. But you didnt know when I told you, over and over and IIRC you also asked me to stop "obsessing" about that.

BTW,  I dont need your or anyone's permission to post whatever the heck I want, and I dont have to wait to be asked for my opinion. No one asked yours either (and if anyone did and actually cared for your opinion, he's an idiot because I dont recall you have ever been right on anything). How's your Ukyo loan doing BTW?

[NotLambchop]

... as far as I know nobody asked you to look in to your magic ball and tell them how unprofitable PETA will be EVERY SINGLE DAY.

Jimmothy, when I see a child lurching after its ball as it bounces under the wheels of of a careening pickup, I scream "STOP!"  I reflexively do what's needed to prevent the tragedy that's sure to take place if not for my intervention.  Regardless of being asked.

The foolish tyke neither notices the truck, nor does it fully comprehend the consequences of being run over.  It's playing.  It wants its toy.
Why in the world would it ask for my help?

Why would you?

[jimmothy]

Everyone knows how to put numbers in to a bitcoin mining calculator and we all know that "doing the math" is just about as accurate as fortune cookies.

If anyone could put the numbers in, how come everyone overbought the IPO by pretty much a factor 10x? How come nearly no one took my numbers seriously when I posted them?

Because NOBODY can predict the next bitcoin difficulty let alone the next 10+. This is why you look like a joke when you preach your estimations as if they are fact.

The only thing that matters are the controllable variables like $/gh, w/gh, and $/kwh. Peta failed each of those which is why it has very little chance of success (at ipo price)

And I don't think you actually believe peta was overvalued by 10 times. The recent IPO was ~$3.2/gh so 1/10th would be $0.3/gh which will ROI according to just about any calculator you try.

BTW,  I dont need your or anyone's permission to post whatever the heck I want, and I dont have to wait to be asked for my opinion. No one asked yours either (and if anyone did and actually cared for your opinion, he's an idiot because I dont recall you have ever been right on anything). How's your Ukyo loan doing BTW?

Ofcourse you don't need permission. I'm just wondering why you dedicate all your precious time to lecture the "noobs" in this thread?

Or is it just purely entertainment to point and laugh at those who lost money?

There are plenty of other scams/failures but why focus exclusively on peta?

Sidenote: I was invested in labcoin less than a week and never ukyoloan.

[SamboNZ]

So, if the latest vote passes, I'm guessing that this now means that there will be no future increases in total hashing power?  Does this mean that Peta is now equivalent to CEX in terms of operation? 

Does anyone know if CryptX is planning on adding any more capacity in future and creating new POs?  If so, I imagine that the price per GH & therefore per share will decrease accordingly.

This is certainly an interesting development which potentially changes the game significantly.

[NotLambchop]

...
This is certainly an interesting development which potentially changes the game significantly.

As interesting as CoinReturn ...or not so much?

[skuser]

So, if the latest vote passes, I'm guessing that this now means that there will be no future increases in total hashing power?  Does this mean that Peta is now equivalent to CEX in terms of operation? 

Yes it seems cryptx just gave up on idea of keeping up with hashrate growth hoping that diluting shares and 100% daily dividends will cause the price go to the same level as with the cex.io. Anyway the only original and ambitious idea in this project just died.

[xe99]

Could someone explain this statement to me from the PETA update?  I don't understand what this means.

· Do a reverse split were each unit will be replaced by 14 shares, so 1 unit represents 1 GH/s of hashing power.

thanks

[_biO_]

You lose 1GH/s per share (15 -> 14), in return the loan goes away and we get 100% of net mining profits as daily dividends.

Then they'll just switch from 1 share = 14 GH/s to 1 share = 1 GH/s and multiply the shares you own by 14, which changes nothing for you as existing shareholder, but makes the unit price better comparable to cex.io.

[EternalWingsofGod]

If I understand correctly the debt is added as part of new shares
So diluting the share price in theory
Convert the outstanding loan of 342.9 BTC to 4,650 PetaMine units (or 0.0735 BTC/unit) which brings the total outstanding units to 82,142.
But offset then by the share strucuture change to 100%
Change the dividend payout to 100%. This gives the opportunity for everyone to choose their own reïnvestment level by purchasing additional units with their dividend
Then do a stock split not a reverse split of 14:1 (Reverse is when 1000 shares become 100)
Do a reverse stock split were each unit will be replaced by 14 shares, so 1 unit represents 1 GH/s of hashing power.
http://www.investopedia.com/terms/r/reversesplit.asp
If a company has 200 million shares outstanding and the shares are trading at 20 cents each, a 1-for-10 reverse split would reduce the number of shares to 20 million, while the shares should trade at about $2. Note that the company’s market capitalization pre-split and post-split should – theoretically at least – be unchanged at $40 million.
And daily dividend like Basic-Mining
Pay dividends every day at 12:00 GMT.

Exchange no more hashing power price drops
But many factors involved here price dillutes then dividends pay more price up but shares increase as well decrease price tricky to tell what happens.

[RoadStress]

Seriously puppet why are you OBSESSED with PETAMINE?

Everyone knows how to put numbers in to a bitcoin mining calculator and we all know that "doing the math" is just about as accurate as fortune cookies are.

Sure peta was way overvalued and overpaid for HW and hosting but as far as I know nobody asked you to look in to your magic ball and tell them how unprofitable PETA will be EVERY SINGLE DAY.

It seems that everyone has it's mission here. I bashed/warned against everyone about the whole AcTM/VMC/kslaughter scam very early and I kept doing it from time to time. Avanger is bashing KnC, Puppet is bashing PETAMINE and so on.

Much respect for what Puppet is doing here. I know how he feels right now and I am telling you that all he needs is patience to prove himself and the others that he was right, but the feeling is priceless! Keep up the good work Puppet

Because NOBODY can predict the next bitcoin difficulty let alone the next 10+. This is why you look like a joke when you preach your estimations as if they are fact.
The only thing that matters are the controllable variables like $/gh, w/gh, and $/kwh. Peta failed each of those which is why it has very little chance of success (at ipo price)

So here you are saying that nobody can predict the bitcoin difficulty, while just a few days ago you were stating that the SP30 won't ROI. Contradicting yourself again! As for $/gh and w/gh the SP30 had the best stats since April, but yet people were complaining about the ROI. Thank you for backing up my view, not your bad intended one.

I'm just wondering why you dedicate all your precious time to lecture the "noobs" in this thread?

No idea about Puppet, but you are dedicating your precious time to bash the SP30 everytime you have the chance so you are exactly like him.


Offtopic done!

[jimmothy]

It seems that everyone has it's mission here. I bashed/warned against everyone about the whole AcTM/VMC/kslaughter scam very early and I kept doing it from time to time. Avanger is bashing KnC, Puppet is bashing PETAMINE and so on.

Much respect for what Puppet is doing here. I know how he feels right now and I am telling you that all he needs is patience to prove himself and the others that he was right, but the feeling is priceless! Keep up the good work Puppet

You can inform people of better deals without daily hourly bashing/trolling.

Fun fact: knc delivered on time and to spec (actually a bit over spec) but their customers were still fucked because that's how preorders work.

Because NOBODY can predict the next bitcoin difficulty let alone the next 10+. This is why you look like a joke when you preach your estimations as if they are fact.
The only thing that matters are the controllable variables like $/gh, w/gh, and $/kwh. Peta failed each of those which is why it has very little chance of success (at ipo price)

So here you are saying that nobody can predict the bitcoin difficulty, while just a few days ago you were stating that the SP30 won't ROI. Contradicting yourself again! As for $/gh and w/gh the SP30 had the best stats since April, but yet people were complaining about the ROI. Thank you for backing up my view, not your bad intended one.

SP30 had the best stats since april? You're joking right? (wait no you're just trying to sell hardware)

The sp30 doesn't exist so how can it have the "best stats"?

July/august batch of sp30 sold for $12,000 each or $2/gh. Hell, even petamine currently at ~$1.5/gh puts the SP30 to shame.

Many argue that the bitmain S3 will likely not turn a profit so how can you possibly suggest that a more expensive machine shipping 3 months later has a chance?

Please stop trying to sell overpriced nonrefundable preorders to noobs.

[Puppet]

Because NOBODY can predict the next bitcoin difficulty let alone the next 10+. This is why you look like a joke when you preach your estimations as if they are fact.

Assumptions (which I never presented as fact) can be wrong, but math doesnt lie. You can challenge my difficulty growth assumptions, in fact, Ive often asked peta investors to provide their assumptions that leads them to holding or buying, but if you do the math you will find that any growth assumption that would justify even the current share price (and that is something you CAN calculate) is simply implausible.

You see,  I may not be able to predict with certainty how fast difficulty will grow (though so far, I came pretty darn close), but I do have a good idea of where its headed and of its upper and lower bounds because difficulty isnt random. Its the result of a rational process. If you want to argue its possible difficulty will soon level off, let alone decrease, you will have to explain why no one would continue deploying miners that would be extremely profitable under those same circumstances.

The only thing that matters are the controllable variables like $/gh, w/gh, and $/kwh.

If you used your brain you would realize that those variables, combined with manufacturing capacity are what determine future difficulty, which is all that really matters. The absolute numbers mean nothing. If they did, I wouldnt have made a big stack of coins mining with GPU's.

And I don't think you actually believe peta was overvalued by 10 times. The recent IPO was ~$3.2/gh so 1/10th would be $0.3/gh which will ROI according to just about any calculator you try.

Your mining calculator doesnt account for the fact that because of the laon,  you only received 50% of the mining revenue, yet paid hosting fees for the full amount (and one might argue, for 4x that amount). SO yes, I meant what I said. I gave you the numbers and the math. Sum of dividends was barely above 0.01BTC using optimistic growth assumptions. The current plan to convert the loan in to (overvalued) shares makes it a little better, but still no where near current market price, never mind IPO.

[RoadStress]

You can inform people of better deals without daily hourly bashing/trolling.

Show me the hourly bashing/trolling.

Fun fact: knc delivered on time and to spec (actually a bit over spec) but their customers were still fucked because that's how preorders work.

The real fun fact is that KnC promised the Neptune in a single case like the Jupiter and they ended up with 5 different cases+1 controller case+ VRMs working at 20% overspec.

SP30 had the best stats since april? You're joking right? (wait no you're just trying to sell hardware)
The sp30 doesn't exist so how can it have the "best stats"?
July/august batch of sp30 sold for $12,000 each or $2/gh. Hell, even petamine currently at ~$1.5/gh puts the SP30 to shame.
Many argue that the bitmain S3 will likely not turn a profit so how can you possibly suggest that a more expensive machine shipping 3 months later has a chance?
Please stop trying to sell overpriced nonrefundable preorders to noobs.

Misinformation at its best again. I have an SP30 due this month thanks to the small March/July bundle that was offered back in March. I paid $15k for one SP10 and one SP30. I consider that I paid $10k for the SP30 which is 1.66$/GH. Not bad imo.

In April the SP30 was 0.69$/GH (and 0.46W/GH) in case you forgot about my GB: https://bitcointalk.org/index.php?topic=575499.0 So yes SP30 had and still has the best stats for over 2 months now.

As for the S3 comparison I can only laugh at it. Comparing apples with oranges again like you usually do/like. The overpriced  preorder is due to deliver THIS month, not 3 months later. Stop with the misinforming posts.

Edit: And no, I'm not trying to sell anything. I am stating my point of view. I did this before having an affiliated signature, I will continue to do it with the affiliated signature and I will do it without the affiliated signature.

[jonsi]

Are you a prophet?

Around here, being able to do a long division gives you all the mystical powers of a prophet. So yeah, to you, I am indeed a prophet.

you have no idea what Cryptx might do next

You mean, there isnt a contract he is supposed to respect?
There isnt a satoshi in the reinvestment fund, there is a frigging big loan that is already acutely in danger of never getting paid back. Short of closing shop and running away there is nothing unexpected he could do unless  his name is santa claus..

I told you already you are a Muppet and a false prophet

Enough is enough

keep you prophecies for yourself we all know the risk and math behind this project

thanks,

...
EDIT: be careful it's a commandment to kill a false prophet 

It's just me or cryptoconomist sounds like a religious fanatic?

[Puppet]

It's just me or cryptoconomist sounds like a religious fanatic?

No religious fanatic without a holy book. Im guessing his is this:
https://docs.google.com/spreadsheet/ccc?key=0AjI5bgsiFJAidHNCdDBqOTV2Zmt6ZW9PbWdvZDV1M3c#gid=0

You see, according to Scripture, difficulty is only 1.5B now, not nearly 17B.  All those hashrate charts and blockexplorers must be blasphemous .