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Author Topic: [HAVELOCK] SCRYPT 4 GH/s hosted scrypt mining project by CRYPTX  (Read 63283 times)
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cryptx
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May 05, 2014, 10:24:45 PM
 #1

UPDATE 09/05/2014

We made a promise to our unitholders to start the deployment of the SCRYPT-X mine mid-May.

We are pleased to announce that, only 48 hours after the IPO, the SCRYPT-X mine is already hashing at 2 GH/s or 1% of the LTC network.

This means our unitholders can expect their first dividend to be paid as early as next Friday the 16th of May.

You can find a screenshot here:
http://www.cryptx.com/scrypt-x-reaches-1-of-ltc-network-only-48-hours-after-ipo/CryptX is pleased to announce their new project SCRYPT-X.

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

SCRYPT-X 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.

The initial core hardware for the mine will be our custom SCRYPT-X1, based on 28 nm A2 chip of Innosilicon. This device has outstanding specifications and will be one of the fastest available machines in terms of hashing power currently on the market.

SCRYPT-X’s hashing power will represent a percentage of the total hashing power of the entire altcoin network. Currently the network capacity of the biggest scrypt based currencies, Litecoin and Dogecoin, is respectively 207 GH/s and 48 GH/s. SCRYPT-X initial hardware would represent 4,83% of the Litecoin network or 20,8% of the Dogecoin network.

This percentage will decrease whenever the hashing power of the network increases. To mitigate this issue, CryptX will reinvest a percentage of the mine’s net revenue in additional hashing power. This means that as SCRYPT-X continues to grow, each share will, in turn, represent more hashing power. A percentage of the net revenue will be paid to shareholders through a weekly dividend.

Deployment of the first 10,000 MH/s of SCRYPT-X1 miners will start mid-May, 2014. We are very confident about this timing because the miners prove to work and are currently in production.

CryptX will use a custom made scrypt miner, the Scrypt-X1, with a capacity of 85 Mh/s. This miner is based on the 28nm A2 chip of Innosilicon.

100,000 units or 100 KH/s per unit, will be offered in the IPO on havelockinvestments.com at a fixed initial price of 0.038 BTC/unit between 07 May 2014 and 15 May 2014.

The shares will be offered in incremental batches of 10,000 shares. Each batch will be offered at an increased rate of 0.0015 BTC. This means the first batch of 10,000 shares will be sold at 0.038 BTC, the second batch at 0.0395 BTC, the third at 0.0410 BTC and so on.

1   1 – 10,000           0.0380 BTC/Unit
2   10,001 – 20,000   0.0395 BTC/Unit
3   20,001 – 30,000   0.0410 BTC/Unit
4   30,001 – 40,000   0.0425 BTC/Unit
5   40,001 – 50,000   0.0440 BTC/Unit
6   50,001 – 60,000   0.0455 BTC/Unit
7   60,001 – 70,000   0.0470 BTC/Unit
8   70,001 – 80,000   0.0485 BTC/Unit
9   80,001 – 90,000   0.0500 BTC/Unit
10  90,001 – 100,000   0.0515 BTC/Unit



More info can be found here:
https://www.havelockinvestments.com/fund.php?symbol=SCRYPT

The complete prospectus can be found here:
https://www.havelockinvestments.com/reports.php
(currently unavailable)

Prospectus on google docs:
https://docs.google.com/file/d/0BzI5bgsiFJAiZVRaMXowZFFlQVk/edit


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May 05, 2014, 10:51:32 PM
 #2

How much do you pay per 100kh?
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May 05, 2014, 11:15:07 PM
 #3

Isn't your "custom made" miner the same as the 72Mh A2 miner by Innosilicon but overclocked? How much are you buying each one for because they are currently selling to consumers for $12,000?
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May 05, 2014, 11:15:25 PM
 #4

How much do you pay per 100kh?

This is the important question here. What is going to be the cost for these very early machines? How much MH/s will you have running by May 31?
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May 05, 2014, 11:29:17 PM
 #5

Glad to see this. Base on PETA mine project's status, I have confidence on you. Wink
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May 05, 2014, 11:33:52 PM
 #6

How much MH/s will you have running by May 31?


We will have 10,000 MH/s running or 100 KH/s per share sold in the IPO.

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May 05, 2014, 11:49:33 PM
 #7

100kh/s on ltc= 0.4112 ltc/month; $4.16usd.  initial IPO price 0.038btc= $17.10. ergo, 4.16/17.1= 24% monthly (as of today's prices).

Question: Will that be the payout or do you still have to substract hosting and reinvestment /other/ costs

Disclosure, i own PETA shares.
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May 06, 2014, 12:03:18 AM
 #8

100kh/s on ltc= 0.4112 ltc/month; $4.16usd.  initial IPO price 0.038btc= $17.10. ergo, 4.16/17.1= 24% monthly (as of today's prices).

Question: Will that be the payout or do you still have to substract hosting and reinvestment /other/ costs

Disclosure, i own PETA shares.
Calculation is correct at current situation excl costs

Total cost = 0.25 $/kWh

Forecast can be found in the prospectus:
https://www.havelockinvestments.com/reports.php
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May 06, 2014, 12:28:06 AM
 #9

is this related to cryptx.io exchange?

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May 06, 2014, 12:32:35 AM
 #10

Prospectus file is damaged.

You are right. We are working to fix the issue.

You can view/download the prospectus at:

https://www.dropbox.com/s/o7wz3b81tfuq1ph/PROSPECTUS%20SCRYPT%20v1.pdf

Thank you,

Havelock Investments Team

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May 06, 2014, 01:34:57 AM
 #11

@CryptX, by my calculations the retail cost of an 86MH A2 miner from Innosilicon is around US$0.12 per KH of mining power for purchases of 10 or more units (admittedly without freight).  However, the Scrypt-X share pricing above works out to a price per KH of ~US$0.16 (at US$420/BTC), or a 33% premium.  What is the reasoning behind this difference in price?

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May 06, 2014, 06:24:21 AM
 #12

@CryptX, by my calculations the retail cost of an 86MH A2 miner from Innosilicon is around US$0.12 per KH of mining power for purchases of 10 or more units (admittedly without freight).  However, the Scrypt-X share pricing above works out to a price per KH of ~US$0.16 (at US$420/BTC), or a 33% premium.  What is the reasoning behind this difference in price?


Because this is not a mining bond but a long term project probably.

@Havelock, the times are confusing (timezones, there are 2 est's). Please confirm the ipo starts in 32 hours and 36 minutes from the time of writing?
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May 06, 2014, 07:50:55 AM
 #13

Because this is not a mining bond but a long term project probably.

Not sure what you mean there.

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May 06, 2014, 08:37:30 AM
 #14

When I try to click the dropbox link I get this message
Disabled link
Access to this link has been disabled. Please ask the owner of the shared link to send a new link to access the file or the folder.

Still working on reports though

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May 06, 2014, 08:45:55 AM
 #15

When I try to click the dropbox link I get this message
Disabled link
Access to this link has been disabled. Please ask the owner of the shared link to send a new link to access the file or the folder.

Still working on reports though


On google docs:

https://docs.google.com/file/d/0BzI5bgsiFJAiZVRaMXowZFFlQVk/edit
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May 06, 2014, 08:49:08 AM
 #16

When I try to click the dropbox link I get this message
Disabled link
Access to this link has been disabled. Please ask the owner of the shared link to send a new link to access the file or the folder.

Still working on reports though


On google docs:

https://docs.google.com/file/d/0BzI5bgsiFJAiZVRaMXowZFFlQVk/edit


Ah thanks can you edit the link on the havelock page as well since that also still links to dropbox

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May 06, 2014, 09:07:03 AM
 #17

When I try to click the dropbox link I get this message
Disabled link
Access to this link has been disabled. Please ask the owner of the shared link to send a new link to access the file or the folder.

Still working on reports though


On google docs:

https://docs.google.com/file/d/0BzI5bgsiFJAiZVRaMXowZFFlQVk/edit


Ah thanks can you edit the link on the havelock page as well since that also still links to dropbox

Done!
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May 06, 2014, 09:12:20 AM
 #18

Ignoring the extremely optimistic difficulty growth estimations and the fact that it is probably impossible for you to get 10GH online by may 15th, how exactly did you get 7632 btc for dividends? That would be more than 100btc average per week.
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May 06, 2014, 09:39:33 AM
 #19

At curent prices you would pay 163.4 usd per MH for the first 10.000 units. (much more if btc will rise)
You will have a few months at most mining with profit , accounting the flood of scrypt asics.
Some examples:
  - 125  usd/MH - The War Machine GawMiners
  - 33.31 usd/MH - Titan KnC
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May 06, 2014, 09:56:59 AM
 #20

is say up top this "is a hosted mining project" - so I assume these machine will not be for sale?

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