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

[stompysteve]

If anyone misses the old daily 50% reinvestment strategy they were doing, I am offering a similar opportunity via a PetaMine investment fund, built using CounterParty (token name: PETAMINE). The gist of it is that money is pooled together to buy PetaMine shares from Havelock. Any money directly invested into the fund gets you PETAMINE tokens to your http://counterwallet.co wallet (which you can hold or trade on the decentralized asset exchange).  Every day 48% of the daily dividends received are directly reinvested into buying more shares, and 50% goes towards weekly payouts. Once a week (every saturday), total earned is paid out to any bitcoin addresses that hold PETAMINE tokens.

More info and official thread: http://letstalkbitcoin.com/forum/post/petaminexcp-mine-bitcoin-with-your-counterwallet

cheers

Sounds like scam

you spelt broker wrong

[1715071974]

1715071974

[1715071974]

1715071974

[nwfella]

Exactly. I assume that cryptx will lower his fees, which is bound to be much higher than his costs. Dissolution and distributing the proceeds to shareholders does not benefit him since he doesn't hold any shares. 

He does. Unless he dumped them all since, he converted the loan in to 4650 peta shares (x14 after split).
But he seems to be trying to get rid of them. Check the Scryptx updates, he is offering scryptx shareholders peta shares rofl.

I saw that as well.  I've been making my voice heard over there on scrypt based thread letting everybody know what time it is with regards to CryptX and crew.  If I had to lay money I'm betting that it is indeed this option (14:1 issuance) that will end up coming to pass.  A whole lot easier for CryptX to keep track of the satoshi's he's robbing his investors out of if only having to manage a single asset.  CryptX is basically like one of those fat-cat central bankers at this point in my mind.  Could give a flying <beep> about what shareholders vote on.  Half-baked hardware purchasing decisions that he knew would go south the minute he paid for them.  Both of his asset's are a complete joke and I suspect by this point he's made so much money of of them that it doesn't really matter a cat's whisker to him that he's basically thrashed his reputation here.  Just my opinion though.

[cryptonaut420]

but for depreciating assets...

yeah, unfortunately like a couple days after I started the investment fund, they sent out that status update basically saying they were not going to go to P2Pool or get new hardware in the near future, and ever since the share price has been plummeting and there has been a big shit-storm on reddit about them. Bad timing I guess, although at the same time also means that more shares can be bought from re-investment each day. Hoping things get sorted out with CryptX and dividends keep getting paid.

[stompysteve]

So are they really gonna just let it die?I would think they would be forced to do something soon or liquidate and pay out a one time big dividend

You seem to be under the impression that this is not going the way cryptx planned, and that the purpose of the project is not to extract the maximum amount of hosting fees.

This situation was already foreseen in the prospectus - see the section under dissolution.

However, it's pretty doubtful that there will be any value left in the assets at that point in time.

the prospectus is still pretty vague on whats going to happen

what do you think the hardware would be worth once they cant pay their power bill, thats alot of hardware to dump all at once
~1150 x used 1TH miners .6 BTC
0.00060000626 for the final div per share

share price right now = 1.20BTC/TH

[jjdub7]

Exactly. I assume that cryptx will lower his fees, which is bound to be much higher than his costs. Dissolution and distributing the proceeds to shareholders does not benefit him since he doesn't hold any shares. 

He does. Unless he dumped them all since, he converted the loan in to 4650 peta shares (x14 after split).
But he seems to be trying to get rid of them. Check the Scryptx updates, he is offering scryptx shareholders peta shares rofl.

I saw that as well.  I've been making my voice heard over there on scrypt based thread letting everybody know what time it is with regards to CryptX and crew.  If I had to lay money I'm betting that it is indeed this option (14:1 issuance) that will end up coming to pass.  A whole lot easier for CryptX to keep track of the satoshi's he's robbing his investors out of if only having to manage a single asset.  CryptX is basically like one of those fat-cat central bankers at this point in my mind.  Could give a flying <beep> about what shareholders vote on.  Half-baked hardware purchasing decisions that he knew would go south the minute he paid for them.  Both of his asset's are a complete joke and I suspect by this point he's made so much money of of them that it doesn't really matter a cat's whisker to him that he's basically thrashed his reputation here.  Just my opinion though.

Again, was there ever proof that investors didn't just pay 2x market value for Ghash mining power, after which point Cryptx just traded the assets in to payout ever-decreasing divs?  Could've been a shill from the start - at least scryptx mines on WeMineLTC, so that's transparent.

[JRBeagle]

but for depreciating assets...

yeah, unfortunately like a couple days after I started the investment fund, they sent out that status update basically saying they were not going to go to P2Pool or get new hardware in the near future, and ever since the share price has been plummeting and there has been a big shit-storm on reddit about them. Bad timing I guess, although at the same time also means that more shares can be bought from re-investment each day. Hoping things get sorted out with CryptX and dividends keep getting paid.

At least it looks like some of the fear is subsiding

[stompysteve]

but for depreciating assets...

yeah, unfortunately like a couple days after I started the investment fund, they sent out that status update basically saying they were not going to go to P2Pool or get new hardware in the near future, and ever since the share price has been plummeting and there has been a big shit-storm on reddit about them. Bad timing I guess, although at the same time also means that more shares can be bought from re-investment each day. Hoping things get sorted out with CryptX and dividends keep getting paid.

At least it looks like some of the fear is subsiding

I dunno i feel like .135 is overpriced
I was thinking about picking up some up at .109 but it looks like i missed that day trade boat

I think more people sold out when the BTC price dropped not when they said no to p2pool

[JRBeagle]

but for depreciating assets...

yeah, unfortunately like a couple days after I started the investment fund, they sent out that status update basically saying they were not going to go to P2Pool or get new hardware in the near future, and ever since the share price has been plummeting and there has been a big shit-storm on reddit about them. Bad timing I guess, although at the same time also means that more shares can be bought from re-investment each day. Hoping things get sorted out with CryptX and dividends keep getting paid.

At least it looks like some of the fear is subsiding

I dunno i feel like .135 is overpriced
I was thinking about picking up some up at .109 but it looks like i missed that day trade boat

I think more people sold out when the BTC price dropped not when they said no to p2pool

Something is worth whatever someone else is willing to pay for it,disregarding everything else;it was a one two punch of no P2P(which many people exclusively bought PETA for and therefore dumped when most recent update dropped)and the bitcoin drop which not only strangled dividends but also created a general sentiment of fear.Dividend today wasn't bad at all,thought this last difficulty increase was really gonna kill it

[Puppet]

Dividend today wasn't bad at all,thought this last difficulty increase was really gonna kill it

There is a delay between difficulty changing, and it affecting pooled mining revenue. Thats because blocks have to mature and because of PPLNS.

[troy112]

Dividend today wasn't bad at all,thought this last difficulty increase was really gonna kill it

There is a delay between difficulty changing, and it affecting pooled mining revenue. Thats because blocks have to mature and because of PPLNS.

Well, would it take 2 days to affect the revenues?

[jjdub7]

Seriously, I still don't own this shit, but I see it every day on the funds page with divs at a 40% variance.  Scryptx, honestly, you need to do something like divs at 1% of net holdings over a running period to smooth that and bring some dignity back to this offering.

Also, owner of 1DHKv9GLzapvFjmQfUyf9qvZEshyRCTkfY - I see you.

[JRBeagle]

Dividend today wasn't bad at all,thought this last difficulty increase was really gonna kill it

There is a delay between difficulty changing, and it affecting pooled mining revenue. Thats because blocks have to mature and because of PPLNS.

Well, would it take 2 days to affect the revenues?

I wouldnt think so,there might be a smaller one at some point in this difficulty cycle but two days of good dividends makes weighing this storm easier.Asks are getting taken out pretty quickly,looks thin till about .0015 

[Puppet]

Well, would it take 2 days to affect the revenues?

Yes. Possibly even more, depending on how the pool organizes the PPLN rounds and how many confirmations they need for determining maturity, how fast they pay out etc.

Regardless if you think (on average) div's are going up or even remain flat,  I have a bridge to sell. You are getting to the point where nearly 50% of the mining revenue is spent on fees. What do you think will happen to divs if average mining revenue drops by 20%? Hint: they dont just drop by 20%.

[oma5]

Well, would it take 2 days to affect the revenues?

Yes. Possibly even more, depending on how the pool organizes the PPLN rounds and how many confirmations they need for determining maturity, how fast they pay out etc.

Regardless if you think (on average) div's are going up or even remain flat,  I have a bridge to sell. You are getting to the point where nearly 50% of the mining revenue is spent on fees. What do you think will happen to divs if average mining revenue drops by 20%? Hint: they dont just drop by 20%.

...or the Bitcoin price increases to $1200 again!? 

[Puppet]

...or the Bitcoin price increases to $1200 again!? 

Wouldnt that just add to the frustration of seeing your precious bitcoins evaporate?

[JRBeagle]

Either way the price has rallied from what some people said was certainly the death of PETA,I feel like I need Dramamine

[Korbman]

Either way the price has rallied from what some people said was certainly the death of PETA,I feel like I need Dramamine

The death knell for PETA was sounded ages ago...whether or not people choose to listen to it is a different story.

[oma5]

Either way the price has rallied from what some people said was certainly the death of PETA,I feel like I need Dramamine

The death knell for PETA was sounded ages ago...whether or not people choose to listen to it is a different story.

Yeah - but don't forget, one can make money in any market! Even on a dying enterprise! 

[Netwerked]

Either way the price has rallied from what some people said was certainly the death of PETA,I feel like I need Dramamine

The death knell for PETA was sounded ages ago...whether or not people choose to listen to it is a different story.

Yeah - but don't forget, one can make money in any market! Even on a dying enterprise! 

Isn't that statement usually true, because you can usually short sell stocks, buy puts, or sell calls?  I don't think Havelock offers that functionality.

But yes, the PETA price has gone up just a little over the past couple of days.  I've seen this happen in the past.  The price will probably start falling again in a few days.

[stompysteve]

Either way the price has rallied from what some people said was certainly the death of PETA,I feel like I need Dramamine

The death knell for PETA was sounded ages ago...whether or not people choose to listen to it is a different story.

Yeah - but don't forget, one can make money in any market! Even on a dying enterprise! 

Isn't that statement usually true, because you can usually short sell stocks, buy puts, or sell calls?  I don't think Havelock offers that functionality.

But yes, the PETA price has gone up just a little over the past couple of days.  I've seen this happen in the past.  The price will probably start falling again in a few days.

yea im not sure how the price is so high with the divs under 1000