[HAVELOCK] SCRYPT 4 GH/s hosted scrypt mining project by CRYPTX

[mvidetto]

The deal looks good, any reason for not taking it?

Even if we take it, we're still not keeping up with difficulty...

So, there's no more profit in mining anymore?

Unless btc/ltc ratio goes back up to .03-.04... yes.

[EdoBcn]

I voted for the purchase, in favor.
Let's see how long it takes to deploy.

[Usman056]

here is why i voted no. Why would you pay 8000$ per machine now ($88.88 per Mh/s), when KNC miner is offering a batch 2 of the titan (400+ MH/s) for 7000$ ($17.5 per Mh/s). Thats just retail, although its in the "future", they compensate for shipment delay. Furthermore, if your not familiar with PETA, and don't know the shit thats been happening there i suggest you you all read the past 5-7 pages.

i mean paying double for the mh/s now would make sense but damn 5.07 times does NOT. Furthermore, you will NEVER ROI, follow this link

http://www.vnbitcoin.org/detailcalculationltc.php?name=LiteCoin_Mining_Rig&startdate=2014-06-27&costperunit=60000&wattperhour=8400&gigahazarate=1000000&daytoincrease=3&testlopfirst=2&diffincrement=3&bitcoinperdollar=9.13&electriccostinput=.25&begindifflevel=13132

I used a conservative difficulty increase, but even if you change it to 3-5% increase per difficulty, it doesn't ever ROI. 2% does, in march of 2015, barely.
ordering from KNC miner using the same projects doesn't work out either unless the overall growth is 4% or lower. Thats based on 11 units RETAIL at 7k per total cost of 80,000 (all of our reinvestment money @600$btc). The future of this project doesn't look good, if we do this reinvestment, all we will be doing is letting cryptx take our money. We will effectively stop mining by according to the link above, by march of next year, but our dividend will be shot to hell. Just FYI, this does not look good either way, but at least with KNC miner, they have a proven record and might even increase the hashrate before its done.

I'm not going to bother doing that projection, if this new equipment comes in we're all pretty much screwed. If we wait, we Could make it out alive. PS. i did not take into account the BTC/LTC ratio, i just did 9.13$ per ltc.

[alexius89]

keep calm guys! :-)   A lot of panic selling just happend. Nothing to worry about. The Shareprice will rise as as soon as we see the reinvestment. But i think we should a wait a bit more for that in order to get the better machines with more MH/S.

Another important idea is to change the pool. An autoswitching self converting pool would be actually best.

@Cryptx  please discuss here with your shareholders. You are more or less responsible for them.  I think it should not be that difficult to spend 2-3 minutes to write a small update and answering some questions. I would propbably meet you guys in Brussels in order to help you communicating.....;-)

[fractal02]

Price is already at BTC 0.0175.

Time to drop or buy... 

[mvidetto]

Or cryptx could do a buyback after selling all the miners and redistribute the current reinvestment so we atleast get some money back...

[pedrog]

here is why i voted no. Why would you pay 8000$ per machine now ($88.88 per Mh/s), when KNC miner is offering a batch 2 of the titan (400+ MH/s) for 7000$ ($17.5 per Mh/s). Thats just retail, although its in the "future", they compensate for shipment delay. Furthermore, if your not familiar with PETA, and don't know the shit thats been happening there i suggest you you all read the past 5-7 pages.

i mean paying double for the mh/s now would make sense but damn 5.07 times does NOT. Furthermore, you will NEVER ROI, follow this link

http://www.vnbitcoin.org/detailcalculationltc.php?name=LiteCoin_Mining_Rig&startdate=2014-06-27&costperunit=60000&wattperhour=8400&gigahazarate=1000000&daytoincrease=3&testlopfirst=2&diffincrement=3&bitcoinperdollar=9.13&electriccostinput=.25&begindifflevel=13132

I used a conservative difficulty increase, but even if you change it to 3-5% increase per difficulty, it doesn't ever ROI. 2% does, in march of 2015, barely.
ordering from KNC miner using the same projects doesn't work out either unless the overall growth is 4% or lower. Thats based on 11 units RETAIL at 7k per total cost of 80,000 (all of our reinvestment money @600$btc). The future of this project doesn't look good, if we do this reinvestment, all we will be doing is letting cryptx take our money. We will effectively stop mining by according to the link above, by march of next year, but our dividend will be shot to hell. Just FYI, this does not look good either way, but at least with KNC miner, they have a proven record and might even increase the hashrate before its done.

I'm not going to bother doing that projection, if this new equipment comes in we're all pretty much screwed. If we wait, we Could make it out alive. PS. i did not take into account the BTC/LTC ratio, i just did 9.13$ per ltc.

We are not paying $8000 per machine...

[nwfella]

The deal looks good, any reason for not taking it?

Even if we take it, we're still not keeping up with difficulty...

So, there's no more profit in mining anymore?

Of course there is, just not for anybody but cryptx himself.  If you really want to see where this asset is heading one has to look no further than his sha256 project and it's only getting uglier by the moment.  Should I buy in now you may be asking?  Just know this, unless cryptx fundamentally changes something about these two projects (cough cough hosting fee's, in house board/chip development) the scrypt version of his asset will do exactly the same thing over time :/

*Yes, looking for my exit position on both asset's.

[EdoBcn]

I'm currently losing 2/3 of what I invested.
If the trend keep going like this, I'll need to move to Belgium and live in Cryptx premises.

All for their poor communication and wrong management. Shit.

[mvidetto]

This is why we should not reinvest, sell our current miners for $7500 ea of which we have 35. This yields $262500 + reinvestment funds would give a buyout of .02.  For people who got in early it would be about a ~40% loss, but it's much better than losing any more of what we already have. 

[somestranger]

This is why we should not reinvest, sell our current miners for $7500 ea of which we have 35. This yields $262500 + reinvestment funds would give a buyout of .02.  For people who got in early it would be about a ~40% loss, but it's much better than losing any more of what we already have. 

I think we should liquidate too.

[EdoBcn]

there was no mention of a buy out. Either this or let's wait for another buying opportunity.
This was the deal.

At current prices, 30btc gives you ~10% of this project.
Good time to buy cheap, but it will be impossible to sell shares if the value doesn't go back up.
40% loss? when? how?
why???

[nwfella]

there was no mention of a buy out. Either this or let's wait for another buying opportunity.
This was the deal.

At current prices, 30btc gives you ~10% of this project.
Good time to buy cheap, but it will be impossible to sell shares if the value doesn't go back up.
40% loss? when? how?
why???

3 reasons as to how in my opinion:

1.) Ridiculously high hosting/admin fee's
2.) The fact that cryptx doesn't have ability to make their own chips and boards
3.) Ridiculously inadequate communication with shareholders

[Morguk]

Voted no and hope others do too. Let's save until brand new hardware is out that has massive hashing increases. Maybe let's even only get 10% divs or something to save more.

We do need to mine other coins though and convert to btc! Not just LTC!

[shitaifan2013]

voted "no".

can people who are registered at surveymonkey see the results so far?

[EdoBcn]

would be nice to have some transparency here.
But hey, we are talking to a wall. For what  we know, Cryptx doesn't even read us anymore...

[jonsi]

I don't imply it's a good or bad investment, everyone should do their own due diligence, but from my experience with investing in btc securities (and cryptx is no exception by far)  everyone has a lot activiti and a explenation for everything when they are asking for money. At that stage things are teoretical, but after they receice that money and things get real, then comes the silence. Explenations disapears if something may not go as planned and we are lucky if we get a short comment once a week. This is the most frustrating thing with btc securities for me.
Of course you may turn a profit, of course you may turn a loss, everyone expects that, but the way that theese CEO's change their atitudine after the IPO money have been raised is what really boder me, and I'm sure I'm not speaking only for myself.

Though, I generally agree with what you're saying here, I don't think it's true with respect to Cryptx.

i've been an investor with PETA and i've been really happy with the weekly updates and the respect for post-IPO accountability. Cryptx has done more for PETA shareholders than promised during the recent Havelock IPO.

I hope you realize the truth about what I said before the IPO.

P.S I've been acused that I'm troling to lower the price to buy "cheap" shares. What was the point of speaking before the IPO then, to lower the IPO?

[EdoBcn]

60000/12 = 5000$ per unit.
33% hashing power increase means 33% dividend increase.
The current price is really happening on such a small volume that is not relevant. If I had more btc would have purchased all available up to ipo price.

This project is still good to go.

[NotLambchop]

...
33% hashing power increase means 33% dividend increase.
...

Nah.  It doesn't.

[pedrog]

60000/12 = 5000$ per unit.
33% hashing power increase means 33% dividend increase.
The current price is really happening on such a small volume that is not relevant. If I had more btc would have purchased all available up to ipo price.

This project is still good to go.

Well, if LTC/BTC rate increase the increase in dividends will be even bigger, and I think that's the biggest factor here.