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

[NotLambchop]

^Don't think of this as having lost 30% of your money, think of it as still having 70% of your money to lose!
Fun fact:  You can keep losing money at your current rate (30% every three weeks), and in a thousand years still have money left! 

[burner2014]

^Don't think of this as having lost 30% of your money, think of it as still having 70% of your money to lose!
Fun fact:  You can keep losing money at your current rate (30% every three weeks), and in a thousand years still have money left! 

Guys are you kidding me? I dont know what the yield is at the moment but it was at 90-100% ... what do you expect? 20000%?

Same with the reinvestment why to hurry when the scrypt prof. is loosing a lot the last weeks. The market is changing so fast so better wait and see what the announcement brings. E.g. the upgrade of KNC Miners last week.

[spartan82]

No update this week? How bout we pump up our operation with some more rigs from reinvestment.. Surely we can add another at the very least another 500mh already? Bitcoin prices seem pretty good right now

[realtime]

This was the update

Update about this weeks dividend payout:

Calculation:
1,875 LTC or 32.3 BTC in total from mining
- 12.01203053 BTC as dividend (0.00040805 BTC/share)
- 18.01804580 BTC reinvestment
- 2.26992366 BTC as hosting fee

LTC/BTC ratio is still under pressure as BTC is gaining in value. The good news is that our reinvestment funds also grow in USD value, which should have a positive effect on our purchasing power for new hardware.

[spartan82]

This was the update

Update about this weeks dividend payout:

Calculation:
1,875 LTC or 32.3 BTC in total from mining
- 12.01203053 BTC as dividend (0.00040805 BTC/share)
- 18.01804580 BTC reinvestment
- 2.26992366 BTC as hosting fee

LTC/BTC ratio is still under pressure as BTC is gaining in value. The good news is that our reinvestment funds also grow in USD value, which should have a positive effect on our purchasing power for new hardware.

Sorry ill rephrase that, any news/update on when and where this purchasing power will go to?

[Elvis Trout]

This was the update

Update about this weeks dividend payout:

Calculation:
1,875 LTC or 32.3 BTC in total from mining
- 12.01203053 BTC as dividend (0.00040805 BTC/share)
- 18.01804580 BTC reinvestment
- 2.26992366 BTC as hosting fee

LTC/BTC ratio is still under pressure as BTC is gaining in value. The good news is that our reinvestment funds also grow in USD value, which should have a positive effect on our purchasing power for new hardware.

Sorry ill rephrase that, any news/update on when and where this purchasing power will go to?

We should wait until the bitcoin price peaks anyway, then we'll be able to buy a lot of hardware!

[Korbman]

We should wait until the bitcoin price peaks anyway, then we'll be able to buy a lot of hardware!

Another newbie brought this up in the PETA thread...

Define "Bitcoin price peak"? Are we at the peak now or trending down again? If you know where the peak is, quit mining and investing...you'll be making cash hand over fist trading currency.

[spartan82]

We should wait until the bitcoin price peaks anyway, then we'll be able to buy a lot of hardware!

Another newbie brought this up in the PETA thread...

Define "Bitcoin price peak"? Are we at the peak now or trending down again? If you know where the peak is, quit mining and investing...you'll be making cash hand over fist trading currency.

I hear ya, my sentiments exactly. Don't wait, if we have the funds and option to buy now then do it. No one knows what the price of Bitcoin will be next week. If you do then you wouldn't be on this forum playing with mining shares let me tell u. Ull be making a fortune trading Bitcoin instead

[TheSmackDown]

Is there any sort of plan from Cryptx for reinvestment seeing as we have almost 100 BTC?  Also, is there any plan to buffer the share price? It's already down 30% from IPO.

My sentiments exactly. For buying the IPO, we should be guaranteed out if we wish at the same price. I am sure the share price will go up as the mine develops but some of us may or may not hv the time.
I am sure crytpx know what they are doing and are mining experts, so anticipate the full development of the project.

They should mine the most profitable coin each week, rather than LTC only, if they are not already. But the ratio will probably only get better so who knows.

[Usman056]

This was the update

Update about this weeks dividend payout:

Calculation:
1,875 LTC or 32.3 BTC in total from mining
- 12.01203053 BTC as dividend (0.00040805 BTC/share)
- 18.01804580 BTC reinvestment
- 2.26992366 BTC as hosting fee

LTC/BTC ratio is still under pressure as BTC is gaining in value. The good news is that our reinvestment funds also grow in USD value, which should have a positive effect on our purchasing power for new hardware.

@CRYPTX or anyone that might explain this

could you please explain why the amount of LTC mined was ~17.43% (1875/2271) lower when the difficulty only increased by ~11-14.5%. This would leave a variance of between ~3-6% unaccounted for (i.e. bad luck? or machines offline? other explanation?)

[jonsi]

I am not quite sure I understand why the share price is dropping like this.

The operation is barely 4 weeks old, dividends coming in regularly and at a level which is as expected for the exchange rate between ltc/bt.c dividend yield was more than generous with ~70% at ipo share price given the project is run by the same people that run peta-mine. They are not nobodies, the risk of them running away is far lower than some of the other projects around here. They have a track record of being able to actually run something like this. Still shareholders are backing away and are selling (presumably) at a loss after only three weeks of dividends.

What am I missing?

The IPO price was unrealistic and unsustainable. I have pointed out this but criptx deleted my posts. I still think even now it's an inflated price with the flood of scrypt asics that is to come.

[DropDead.Be]

The IPO price was unrealistic and unsustainable. I have pointed out this but criptx deleted my posts. I still think even now it's an inflated price with the flood of scrypt asics that is to come.
[/quote]

That's why we are saving up our reinvestment fund, reinvesting now would be futile when the flood comes. It's a shame they didnt mention the total amount in reinvestment fund in this week's update. Anyone has a good estimate of total reinvestment fund?

Edit: 92.3 BTC current total for reinvestment.

[EdoBcn]

The IPO price was unrealistic and unsustainable. I have pointed out this but criptx deleted my posts. I still think even now it's an inflated price with the flood of scrypt asics that is to come.

That's why we are saving up our reinvestment fund, reinvesting now would be futile when the flood comes. It's a shame they didnt mention the total amount in reinvestment fund in this week's update. Anyone has a good estimate of total reinvestment fund?

Edit: 92.3 BTC current total for reinvestment.
[/quote]

not sure i follow.
why is futile to ramp up when a flood is coming?
Do you think that in few weeks the situation will be better?

just asking. no fud.

[DropDead.Be]

The IPO price was unrealistic and unsustainable. I have pointed out this but criptx deleted my posts. I still think even now it's an inflated price with the flood of scrypt asics that is to come.

That's why we are saving up our reinvestment fund, reinvesting now would be futile when the flood comes. It's a shame they didnt mention the total amount in reinvestment fund in this week's update. Anyone has a good estimate of total reinvestment fund?

Edit: 92.3 BTC current total for reinvestment.

not sure i follow.
why is futile to ramp up when a flood is coming?
Do you think that in few weeks the situation will be better?

just asking. no fud.
[/quote]
I believe price/hash will decrease whenever the asic flood hits the market, compared to buying new hardware now.
I know price/hash will decrease if we buy larger orders

From the 30th March update "Reinvestment funds now top 74BTC, we plan to further grow the reinvestment funds before making any new purchases. The market has to mature further with more Scrypt ASIC manufacturers before the price of hardware will go down. "

[spartan82]

Why not take advantage now with the high price of Bitcoin, and get ahead of the flood. Early bird gets the worm

[Elvis Trout]

Why not take advantage now with the high price of Bitcoin, and get ahead of the flood. Early bird gets the worm

Because the price is going to rise further

[twentyseventy]

Why not take advantage now with the high price of Bitcoin, and get ahead of the flood. Early bird gets the worm

Because the price is going to rise further

Because no one knows where the price is going. That's why you make decisions based on the price now and not where you think/hope it might go.

[kenmomotaro]

Why not take advantage now with the high price of Bitcoin, and get ahead of the flood. Early bird gets the worm

Because the price is going to rise further

Because no one knows where the price is going. That's why you make decisions based on the price now and not where you think/hope it might go.

I guess once a price competitive mining rig shows up in the market, Cryptx would buy that all at once. They are quite sensitive to this issue than most of us.

[spartan82]

Why not take advantage now with the high price of Bitcoin, and get ahead of the flood. Early bird gets the worm

Because the price is going to rise further

Elvis no disrespect but where is your intel coming from that Bitcoin price will rise higher??? If we don't do anything now our share price will keep plummeting as it has been for the past few weeks!

[somestranger]

Elvis no disrespect but where is your intel coming from that Bitcoin price will rise higher??? If we don't do anything now our share price will keep plummeting as it has been for the past few weeks!

Oh wow are you going to feel silly in a couple months. With that said, we should probably be putting some (30-40%?) of the reinvestment funds into new equipment while waiting for the price to push higher.