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

[DebitMe]

At least it goes a little towards showing that CryptX believes in this project.

They received 4650 shares with a dividend of .00211533 or a little under 9.836 btc in dividends for this week.  That is about a 10% cut compared to last week that they received back on their remaining 342 btc loan.  At the current share price those are worth 180-190 btc, so they must believe they can continue to turn out a profit over time, otherwise they would lose quite a bit on this conversion.

[rdyoung]

to the moon.........


now, where do the ghash io boys hang out so we can spam them and tell them what a good deal is going on over at havelock.



also, perhaps we should ask cryptx about developing a trading platform a little better than havelock?

This isn't a bad idea on either account.

Maybe cryptx/petamine will morph into something more akin to cex. Have their own site to allow to trading of ghs between investors.
I have had a funny feeling for quite awhile that management at cex is keeping the price inflated, if petamine were to become a competitor of sorts to cex it would definitely even the playing field and if/when cryptx solves the bitfury p2pool issue, which has been solved by others, it could mean a mass migration to p2pool as well.

[NotLambchop]

...
Maybe cryptx/petamine will morph into something more akin to cex. Have their own site to allow to trading of ghs between investors.
I have had a funny feeling for quite awhile that management at cex is keeping the price inflated, if petamine were to become a competitor of sorts to cex it would definitely even the playing field and if/when cryptx solves the bitfury p2pool issue, which has been solved by others, it could mean a mass migration to p2pool as well.

Check out /marketplace/service announcements/.  Pretty much everything there is now riffing on the "cloud mining" theme. 

[nwfella]

Cloud hashing with the added benefit of no Buy depth.  Can you say "hell in a hand basket?"

[rdyoung]

...
Maybe cryptx/petamine will morph into something more akin to cex. Have their own site to allow to trading of ghs between investors.
I have had a funny feeling for quite awhile that management at cex is keeping the price inflated, if petamine were to become a competitor of sorts to cex it would definitely even the playing field and if/when cryptx solves the bitfury p2pool issue, which has been solved by others, it could mean a mass migration to p2pool as well.

Check out /marketplace/service announcements/.  Pretty much everything there is now riffing on the "cloud mining" theme. 

I do agree that overall cloud mining is way over priced and usually not worth it, however there are a few that have proven to be reliable and drop their prices as btc/usd increases and as hardware costs drop. Cryptx/Petamine could very easily become an example of how to do cloud mining right.

Among the problems at cex.io the biggest one is that even as they bring on new hardware which likely costs pennies per GHS to produce these days, they let it trade on an open market where it goes for over 4$ currently. Cryptx/petamine could instead keep issuing more stock when they wish to or already have purchased more hardware for the cost per ghs that was/will be paid. Over time your "share" value would drop, but it all seriousness it should as the hardware loses value at every difficulty increase same as a car loses value when being driven off the lot.

[SilentH]

reverse splits happened..

[tragor]

reverse splits happened..

After a spike in the 0.0060's the ask price is going back down, we'll see if it stops around the expected 0.0028 mark.

[Anotheranonlol]

http://www.reddit.com/r/Bitcoin/comments/2ageqb/petamine_update_july_11th_2014/

[michaelGedi]

http://www.reddit.com/r/Bitcoin/comments/2ageqb/petamine_update_july_11th_2014/

need more hype chaps, get this out there...

what is the range of the BTC/gh going rate these days? we know cex, but what other reasonable comparisons can be made?

[Seretonin]

Someone posted this on Reddit:

https://www.betmoose.com/bet/peta-on-havelock-investments-will-hit-01btc-by-2015-288

[jaysabi]

On the subject of Scryptx, the prospectus says:

"SCRYPT is a hosted scrypt mining project with an initial maximum capacity of 10,000,000 KH/s or 10,000 MH/s of hashing power."

If it has 10gh/s hashing power, why is only a fraction of it being deployed? In the July 1 update, Cryptx said the addition of new miners bought with reinvestment funds will bring total hashing power to 4gh/s.

This is the exact quote: "This means that Scrypt-X has about 4 GH/s of hashing power from now on."

So if the fund starts with 10gh/s worth of capacity, but the new miners they just bought are bringing us to 4gh/s, where is all that extra capacity we started with and why is it not being used to the benefit of fund owners?

[pedrog]

On the subject of Scryptx, the prospectus says:

"SCRYPT is a hosted scrypt mining project with an initial maximum capacity of 10,000,000 KH/s or 10,000 MH/s of hashing power."

If it has 10gh/s hashing power, why is only a fraction of it being deployed? In the July 1 update, Cryptx said the addition of new miners bought with reinvestment funds will bring total hashing power to 4gh/s.

This is the exact quote: "This means that Scrypt-X has about 4 GH/s of hashing power from now on."

So if the fund starts with 10gh/s worth of capacity, but the new miners they just bought are bringing us to 4gh/s, where is all that extra capacity we started with and why is it not being used to the benefit of fund owners?

It only sold 3 GH/s of a total 10 GH/s available.

[jaysabi]

On the subject of Scryptx, the prospectus says:

"SCRYPT is a hosted scrypt mining project with an initial maximum capacity of 10,000,000 KH/s or 10,000 MH/s of hashing power."

If it has 10gh/s hashing power, why is only a fraction of it being deployed? In the July 1 update, Cryptx said the addition of new miners bought with reinvestment funds will bring total hashing power to 4gh/s.

This is the exact quote: "This means that Scrypt-X has about 4 GH/s of hashing power from now on."

So if the fund starts with 10gh/s worth of capacity, but the new miners they just bought are bringing us to 4gh/s, where is all that extra capacity we started with and why is it not being used to the benefit of fund owners?

It only sold 3 GH/s of a total 10 GH/s available.

If there's 10gh/s available though, what is it doing now? I doubt it's not online because they couldn't sell it. So is cryptx mining with it and keeping the proceeds? Should this not be disclosed if this is the case considering the fund promised to be a mining fund based on 10gh/s?

It's dishonest to say that you're buying into a fund "with 10gh/s capability" and then only use some of it because you didn't sell as many shares as you wanted. It would have been accurate to say that you're buying a share that is pegged to an exact hash rate, but so far as I can tell, they didn't say that. Saying it's a 10gh/s fund makes it sound like you're buying into 10gh/s, regardless of the number of shares sold; not a fund that has a predetermined value where only as much hash power will be brought online as they sell in an IPO based an a predetermined value per gh/s.

That's my take on it anyway.

Obviously, if they have 10gh/s capability and it was deployed for the fund, return on investment would skyrocket and the price of the fund would follow. It seems to me that's what should be done, since that's what was (ostensibly) promised.

[Anotheranonlol]

On the subject of Scryptx, the prospectus says:

"SCRYPT is a hosted scrypt mining project with an initial maximum capacity of 10,000,000 KH/s or 10,000 MH/s of hashing power."

If it has 10gh/s hashing power, why is only a fraction of it being deployed? In the July 1 update, Cryptx said the addition of new miners bought with reinvestment funds will bring total hashing power to 4gh/s.

This is the exact quote: "This means that Scrypt-X has about 4 GH/s of hashing power from now on."

So if the fund starts with 10gh/s worth of capacity, but the new miners they just bought are bringing us to 4gh/s, where is all that extra capacity we started with and why is it not being used to the benefit of fund owners?

It only sold 3 GH/s of a total 10 GH/s available.

If there's 10gh/s available though, what is it doing now? I doubt it's not online because they couldn't sell it. So is cryptx mining with it and keeping the proceeds? Should this not be disclosed if this is the case considering the fund promised to be a mining fund based on 10gh/s?

It's dishonest to say that you're buying into a fund "with 10gh/s capability" and then only use some of it because you didn't sell as many shares as you wanted. It would have been accurate to say that you're buying a share that is pegged to an exact hash rate, but so far as I can tell, they didn't say that. Saying it's a 10gh/s fund makes it sound like you're buying into 10gh/s, regardless of the number of shares sold; not a fund that has a predetermined value where only as much hash power will be brought online as they sell in an IPO based an a predetermined value per gh/s.

That's my take on it anyway.

Obviously, if they have 10gh/s capability and it was deployed for the fund, return on investment would skyrocket and the price of the fund would follow. It seems to me that's what should be done, since that's what was (ostensibly) promised.

Not sure what the problem is. It says 'with an initial maximum capacity of 10,000,000 KH/s or 10,000 MH/s of hashing power." (ie dependent on maximum possible shares being sold) If it said minimum perhaps things would be different.

IPO funds were used to purchase proportional amount of hashrate. By this argument If 1 share were sold cryptx would be paying out of pocket for one lucky shareholder to earn 10GH worth of mining in divs (of course an exaggeration) . Anyway, SCRYPT topic is more suitable to air these concerns.

[jaysabi]

On the subject of Scryptx, the prospectus says:

"SCRYPT is a hosted scrypt mining project with an initial maximum capacity of 10,000,000 KH/s or 10,000 MH/s of hashing power."

If it has 10gh/s hashing power, why is only a fraction of it being deployed? In the July 1 update, Cryptx said the addition of new miners bought with reinvestment funds will bring total hashing power to 4gh/s.

This is the exact quote: "This means that Scrypt-X has about 4 GH/s of hashing power from now on."

So if the fund starts with 10gh/s worth of capacity, but the new miners they just bought are bringing us to 4gh/s, where is all that extra capacity we started with and why is it not being used to the benefit of fund owners?

It only sold 3 GH/s of a total 10 GH/s available.

If there's 10gh/s available though, what is it doing now? I doubt it's not online because they couldn't sell it. So is cryptx mining with it and keeping the proceeds? Should this not be disclosed if this is the case considering the fund promised to be a mining fund based on 10gh/s?

It's dishonest to say that you're buying into a fund "with 10gh/s capability" and then only use some of it because you didn't sell as many shares as you wanted. It would have been accurate to say that you're buying a share that is pegged to an exact hash rate, but so far as I can tell, they didn't say that. Saying it's a 10gh/s fund makes it sound like you're buying into 10gh/s, regardless of the number of shares sold; not a fund that has a predetermined value where only as much hash power will be brought online as they sell in an IPO based an a predetermined value per gh/s.

That's my take on it anyway.

Obviously, if they have 10gh/s capability and it was deployed for the fund, return on investment would skyrocket and the price of the fund would follow. It seems to me that's what should be done, since that's what was (ostensibly) promised.

Not sure what the problem is. It says 'with an initial maximum capacity of 10,000,000 KH/s or 10,000 MH/s of hashing power." (ie dependent on maximum possible shares being sold) If it said minimum perhaps things would be different.

IPO funds were used to purchase proportional amount of hashrate. By this argument If 1 share were sold cryptx would be paying out of pocket for one lucky shareholder to earn 10GH worth of mining in divs (of course an exaggeration) . Anyway, SCRYPT topic is more suitable to air these concerns.

Ok, that's what I was missing. It doesn't say anywhere that IPO funds were used to purchase proportional hashrate. Perhaps that's a given, but I'm new to cloud mining, so I don't know what is standard procedure and only know what is explicitly stated. But this makes sense to me now. Thanks for your help.

[dhenson]

Am I really the only one that noticed Puppet stopped posting here once that 2500 share bid wall @ .021 was sold into?

[SamboNZ]

So CEX's price per GHS is ~0.00627.  Since Peta is now pretty much equivalent to CEX in operation, the current price of ~0.003 for a Peta GHS is a bargain!!

The Peta maintenance fee is lower by my calculations as well:
CEX = 20c per GHS / Month
Peta = 16.4c per GHS / Month (Based on 1150TH @ $625 / BTC)

[fonsie]

Am I really the only one that noticed Puppet stopped posting here once that 2500 share bid wall @ .021 was sold into?

Perhaps he's just waiting for you to prove him wrong with some actual numbers, instead of endless pumping of your own shares....? Think about it...

In the mean time for those who don't wanna loose their BTC:

The following also applys to PETA... http://bitcoin.equipment/

[dhenson]

Am I really the only one that noticed Puppet stopped posting here once that 2500 share bid wall @ .021 was sold into?

Perhaps he's just waiting for you to prove him wrong with some actual numbers, instead of endless pumping of your own shares....? Think about it...

In the mean time for those who don't wanna loose their BTC:

The following also applys to PETA... http://bitcoin.equipment/

I'm no-longer a shareholder.  My point is that Puppet bags securities to pick up shares and then sells when he shuts up. 

[fonsie]

Am I really the only one that noticed Puppet stopped posting here once that 2500 share bid wall @ .021 was sold into?

Perhaps he's just waiting for you to prove him wrong with some actual numbers, instead of endless pumping of your own shares....? Think about it...

In the mean time for those who don't wanna loose their BTC:

The following also applys to PETA... http://bitcoin.equipment/

I'm no-longer a shareholder.  My point is that Puppet bags securities to pick up shares and then sells when he shuts up.  

Not sure if that's the way to do it, talking it down with numbers that are accurate, then buy some shares and hope for a magick fairy to make PETA a good investment.
It would have been a better idea to buy them cheap and then start telling people that PETA also has a donkey shitting bitcoins, then SELL.

Even if he just wanted to trade a bit, I do hope people read back a few pages on forums, so they still read what he said.