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

[mruiter]

They are supposed to be the tech experts??? What happened?

..... What happend is no communicado after the shouted everywhere how good the were to deploy the hardware right away.

[1715077050]

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[1715077050]

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[NotLambchop]

^LTC/USD price chart for the year 2014.

[nwfella]

No update on new hash to be added to network.
BTC price crashing.
CryptX admin/hosting fee's still outrageous but hey at least somebody's making money.

Going to be a helluva ride to the bottom it seems.

[stompysteve]

August 15th, 2014 - Dear Unit Holders,

Update about this weeks dividend payout:

Calculation:
1,055 LTC or 10.6133 BTC in total from mining
- 2.66844871 BTC as dividend (0.00009065 BTC/share)
- 4.002673071 BTC reinvestment
- 3.94217822 BTC as hosting fee

Total reinvestment fund now reaches 90.78 BTC.

We would like to propose some ideas / options for the Scrypt-X project. We will issue a first voting round between 4 possible options. A second voting round will be held between the two most favorable/supported options.

Options:

1.   Purchase of 23 Scrypt Miners (A2 Innosilicon Terraminers, hashrate of ~85-90Mh/s)
Total hashrate: 2,000 Mh/s
Overall hashrate of Scrypt-X will increase by 50 percent to a total of 6,000 Mh/s
Deployment is possible immediately after the second voting round
Total price $45,977 or $1,999 per miner

2. Convert every Scrypt-X unit to 5 PetaMine units. The Scrypt-X project will cease to exist.

3. One time dividend of 90.5 BTC. The Scrypt-X project will continue with a weekly 100% dividend payout.

4.   Keep the reinvestment funds for future opportunities. The Scrypt-X project remains like it is today.


First voting round:

Unit holders can place their vote on https://www.surveymonkey.com/s/BXLC5JP till Thursday 21 August 2014, 12:00 GMT.

Second voting round:

The second voting round will start on Friday 22 August 2014 and end on Friday 29 August 2014.


Team CryptX

[stompysteve]

Isnt there better hardware to invest in besides A2's i dont get it?

[JstnPwll]

Take this for what it's worth:

PetaMine divs per share from the last 7 days = 0.00008705
(0.00001245+0.00000924+0.00001195+0.00001658+0.00001244+0.00001294+0.00001145)

For one share of Scrypt-X, we'd get 5 shares of Peta, so weekly becomes 0.00043525
(0.00008705 * 5)

This week's Scrypt-X share was only 0.00009065/share, or ~21% of the Peta equivalent divs.
(0.00009065 / 0.00043525)


A one time payout of 90.5 BTC comes to 0.003074 / share.

Here's my opinion of how the options rank:

(2) or (3) > (4) > (1)

[alexius89]

There is currently much better hardware. For example here:

http://gawminers.com/collections/all-miners/products/54-mh-s-the-war-machine-by-gaw-miners-1-month-of-free-zencloud-hosting-service-24-hour-activation-asic-scrypt-miner

54MH/s  for 800$  including one month free hosting (6 different pools to choose,  nicehash, coinking and other good ones)


Furthermore:

WHOLESALE INQUIRY (from GAWminers)
As our many existing resellers will tell you, being a GAW reseller comes with some GAWsome benefits. For starters, you receive up to 5-20% in bulk pricing discounts on orders, direct shipping to customers, expanded customer support, and early-access to some of our latest product releases.

While there are requirements on minimum order quantity, we encourage all potential resellers to fill out the form below and contact us. We review each and every application that comes in the door and our CEO will make the final call.


____________________________________________________________

i dont get it why CryptX still insist of their A2 . . .

MAYBE WE MAKE THEM TO CHANGE THE VOTING TO THE ABOVE MENTIONED MACHINES!

[stompysteve]

Take this for what it's worth:

PetaMine divs per share from the last 7 days = 0.00008705
(0.00001245+0.00000924+0.00001195+0.00001658+0.00001244+0.00001294+0.00001145)

For one share of Scrypt-X, we'd get 5 shares of Peta, so weekly becomes 0.00043525
(0.00008705 * 5)

This week's Scrypt-X share was only 0.00009065/share, or ~21% of the Peta equivalent divs.
(0.00009065 / 0.00043525)


A one time payout of 90.5 BTC comes to 0.003074 / share.

Here's my opinion of how the options rank:

(2) or (3) > (4) > (1)

Im thinking 4 then 3 only because they havnt listed any competitive miners

Edit: why wouldnt they have you be able to pick two choices for each vote??

[nwfella]

Well nice to have an update from CryptX finally.  But I gotta say the option to convert existing scryptx shares over to petamine shares at a ratio of 5:1 is just laughable to me.  I've been involved with the CryptX sha IPO since it opened and the situation with that stock is even worse than it is here but given Cryptx track-record thus far with regards to getting a good $/GH rate it's actually probably one of the better options he's offering although personally I'm leaning towards the 90BTC payout and continued daily dividends. 

[Korbman]

We would like to propose some ideas / options for the Scrypt-X project. We will issue a first voting round between 4 possible options. A second voting round will be held between the two most favorable/supported options.

Options:

1.   Purchase of 23 Scrypt Miners (A2 Innosilicon Terraminers, hashrate of ~85-90Mh/s)
Total hashrate: 2,000 Mh/s
Overall hashrate of Scrypt-X will increase by 50 percent to a total of 6,000 Mh/s
Deployment is possible immediately after the second voting round
Total price $45,977 or $1,999 per miner

2. Convert every Scrypt-X unit to 5 PetaMine units. The Scrypt-X project will cease to exist.

3. One time dividend of 90.5 BTC. The Scrypt-X project will continue with a weekly 100% dividend payout.

4.   Keep the reinvestment funds for future opportunities. The Scrypt-X project remains like it is today.

Where's the "None of the above", or "Vote Write-In" option?

#1  -- A2 chips are inefficient at this point, and there are vastly better deals out there, as alexius89 has helpfully pointed out.

#2  -- PETA is a dead fund (though most people haven't figured it out yet). Halting reinvestment is a death sentence in mining, and it's incredibly clear which direction PETA is headed. It wouldn't matter if they converted the shares 10 to 1 when they'll be worth nothing in the end anyway.

#3  -- Essentially a cop-out, the result of which would bring us onto the same page as PETA. Dividends will temporarily increase, followed by a plummet in share price, and an eventual decline to BTC0.0

#4  -- The most logical choice if they were to take the fund seriously, and this ignores the need for new hardware, but given they've put it to a vote...

In all honesty, I'm quite disappointed in the supposed professionalism this team was to display. They have the money and space for equipment, but lack the managerial or strategic foresight to aptly run a company.

[pedrog]

We would like to propose some ideas / options for the Scrypt-X project. We will issue a first voting round between 4 possible options. A second voting round will be held between the two most favorable/supported options.

Options:

1.   Purchase of 23 Scrypt Miners (A2 Innosilicon Terraminers, hashrate of ~85-90Mh/s)
Total hashrate: 2,000 Mh/s
Overall hashrate of Scrypt-X will increase by 50 percent to a total of 6,000 Mh/s
Deployment is possible immediately after the second voting round
Total price $45,977 or $1,999 per miner

2. Convert every Scrypt-X unit to 5 PetaMine units. The Scrypt-X project will cease to exist.

3. One time dividend of 90.5 BTC. The Scrypt-X project will continue with a weekly 100% dividend payout.

4.   Keep the reinvestment funds for future opportunities. The Scrypt-X project remains like it is today.

Where's the "None of the above", or "Vote Write-In" option?

#1  -- A2 chips are inefficient at this point, and there are vastly better deals out there, as alexius89 has helpfully pointed out.

#2  -- PETA is a dead fund (though most people haven't figured it out yet). Halting reinvestment is a death sentence in mining, and it's incredibly clear which direction PETA is headed. It wouldn't matter if they converted the shares 10 to 1 when they'll be worth nothing in the end anyway.

#3  -- Essentially a cop-out, the result of which would bring us onto the same page as PETA. Dividends will temporarily increase, followed by a plummet in share price, and an eventual decline to BTC0.0

#4  -- The most logical choice if they were to take the fund seriously, and this ignores the need for new hardware, but given they've put it to a vote...

In all honesty, I'm quite disappointed in the supposed professionalism this team was to display. They have the money and space for equipment, but lack the managerial or strategic foresight to aptly run a company.

I seconded this.

[Morguk]

We would like to propose some ideas / options for the Scrypt-X project. We will issue a first voting round between 4 possible options. A second voting round will be held between the two most favorable/supported options.

Options:

1.   Purchase of 23 Scrypt Miners (A2 Innosilicon Terraminers, hashrate of ~85-90Mh/s)
Total hashrate: 2,000 Mh/s
Overall hashrate of Scrypt-X will increase by 50 percent to a total of 6,000 Mh/s
Deployment is possible immediately after the second voting round
Total price $45,977 or $1,999 per miner

2. Convert every Scrypt-X unit to 5 PetaMine units. The Scrypt-X project will cease to exist.

3. One time dividend of 90.5 BTC. The Scrypt-X project will continue with a weekly 100% dividend payout.

4.   Keep the reinvestment funds for future opportunities. The Scrypt-X project remains like it is today.

Where's the "None of the above", or "Vote Write-In" option?

#1  -- A2 chips are inefficient at this point, and there are vastly better deals out there, as alexius89 has helpfully pointed out.

#2  -- PETA is a dead fund (though most people haven't figured it out yet). Halting reinvestment is a death sentence in mining, and it's incredibly clear which direction PETA is headed. It wouldn't matter if they converted the shares 10 to 1 when they'll be worth nothing in the end anyway.

#3  -- Essentially a cop-out, the result of which would bring us onto the same page as PETA. Dividends will temporarily increase, followed by a plummet in share price, and an eventual decline to BTC0.0

#4  -- The most logical choice if they were to take the fund seriously, and this ignores the need for new hardware, but given they've put it to a vote...

In all honesty, I'm quite disappointed in the supposed professionalism this team was to display. They have the money and space for equipment, but lack the managerial or strategic foresight to aptly run a company.

I seconded this.

Me too. I've voted 4. Maybe miners if we can get some more cost effective options, but I'm up for waiting for future hardware and taking the risk to see if the price increases. Also why doesn't cryptx use a multipool thing to mine the most cost efficient coin? Instead of LTC all the time?

[alexius89]

We would like to propose some ideas / options for the Scrypt-X project. We will issue a first voting round between 4 possible options. A second voting round will be held between the two most favorable/supported options.

Options:

1.   Purchase of 23 Scrypt Miners (A2 Innosilicon Terraminers, hashrate of ~85-90Mh/s)
Total hashrate: 2,000 Mh/s
Overall hashrate of Scrypt-X will increase by 50 percent to a total of 6,000 Mh/s
Deployment is possible immediately after the second voting round
Total price $45,977 or $1,999 per miner

2. Convert every Scrypt-X unit to 5 PetaMine units. The Scrypt-X project will cease to exist.

3. One time dividend of 90.5 BTC. The Scrypt-X project will continue with a weekly 100% dividend payout.

4.   Keep the reinvestment funds for future opportunities. The Scrypt-X project remains like it is today.

Where's the "None of the above", or "Vote Write-In" option?

#1  -- A2 chips are inefficient at this point, and there are vastly better deals out there, as alexius89 has helpfully pointed out.

#2  -- PETA is a dead fund (though most people haven't figured it out yet). Halting reinvestment is a death sentence in mining, and it's incredibly clear which direction PETA is headed. It wouldn't matter if they converted the shares 10 to 1 when they'll be worth nothing in the end anyway.

#3  -- Essentially a cop-out, the result of which would bring us onto the same page as PETA. Dividends will temporarily increase, followed by a plummet in share price, and an eventual decline to BTC0.0

#4  -- The most logical choice if they were to take the fund seriously, and this ignores the need for new hardware, but given they've put it to a vote...

In all honesty, I'm quite disappointed in the supposed professionalism this team was to display. They have the money and space for equipment, but lack the managerial or strategic foresight to aptly run a company.

Exactly, the given option are not really what I expected. A question in the round:

I sent korbmans mail so at least they read it and offer something.
AND: they will listen to us again if we write another mail qualifiesld and proper mail.
(Korbman wink wink),
There we should include other hardware options (GAW.etc..) As well as some investor friendly solutions.

Cheers
Did anyone else sent Korbmans or my mail  or one by his/her own to to cryptX?

[nwfella]

I wouldn't be surprised if the thousands cryptx is earning weekly off our pain is one day applied to either:
1.) CryptX11/13 farming asset
     or even more ambitious:
2.) CryptX ASIC's, yeah baby, our goal is to capture 2% of overall BTC or LTC network by designing our own in-house mining rigs and chips!!  We know things didn't go so well with our first two listings but trust us, this time it will be different :/

One thing we investors can be proud of I suppose, in another 2-3 months when scryptx can rebuy all our shares at 20% on the dollar or better he will be one of the largest private owners of hash for both sha and scrypt in the whole of the world I suspect...we helped do that...it was costly, but that was all us.  Hmmm, now that I type it I don't quite get the feel good jolt I was hoping for.

[stompysteve]

I wouldn't be surprised if the thousands cryptx is earning weekly off our pain is one day applied to either:
1.) CryptX11/13 farming asset

11/13?

[mruiter]

cryptx is just proposing to buy more a2 's and not something better to get rid of there old stock that losts its money last month like big time.

This is them and plenty of old stock https://www.asic-hardware.com/product/a2-innosilicon-terminator-scrypt-miner-90-mhs/

[nwfella]

I wouldn't be surprised if the thousands cryptx is earning weekly off our pain is one day applied to either:
1.) CryptX11/13 farming asset

11/13?

Yeah, just me putting on the wild guess tin-foil hat and trying to guess what type of digital asset he'll try launching next.  I was inclined to think an X11/X13 pool of hardware, but the more I think about it I'm no leaning towards his wanting to become the next KnC or something.  I have a sneaking suspicion that this fella's ambitions know few bounds.

[kenmomotaro]

My only question is that Cryptx should probably own 65100 Petamine units, so how comes if we convert all Scrypt-X units into Peta units? That will be converted into 147415 Petamine units. Another 82315 Petamine units will be needed.

So, does Cryptx own 147415 Petamine units in hands, or it will go another way? Like deploy new 82315 GH/s to increase the total Peta's shares number?

[michaelGedi]

My only question is that Cryptx should probably own 65100 Petamine units, so how comes if we convert all Scrypt-X units into Peta units? That will be converted into 147415 Petamine units. Another 82315 Petamine units will be needed.

So, does Cryptx own 147415 Petamine units in hands, or it will go another way? Like deploy new 82315 GH/s to increase the total Peta's shares number?

are you accounting for the unsold peta units? essentially one's that are on standby and have not recieved dividends, but could be sold in IPO or in other situation?

I may be missing something here... hmmm, now that I think about yes I see - they would have to increase GH of peta. Maybe peta has aquired these from another large shareholder as they did last time.

[kenmomotaro]

My only question is that Cryptx should probably own 65100 Petamine units, so how comes if we convert all Scrypt-X units into Peta units? That will be converted into 147415 Petamine units. Another 82315 Petamine units will be needed.

So, does Cryptx own 147415 Petamine units in hands, or it will go another way? Like deploy new 82315 GH/s to increase the total Peta's shares number?

are you accounting for the unsold peta units? essentially one's that are on standby and have not recieved dividends, but could be sold in IPO or in other situation?

I may be missing something here... hmmm, now that I think about yes I see - they would have to increase GH of peta. Maybe peta has aquired these from another large shareholder as they did last time.

I account that part of shares from this source.

July 11th, 2014 - Dear Unit Holders

These are the results of the survey: 68% of all unit holders have cast their vote with regard to the outlined strategy change of PetaMine:
-   Yes votes: 98%
-   No votes: 2%

Based on these results we will go forward with the execution of the following points:
-   Convert the outstanding loan of 342,9 BTC to 4650 PetaMine units
-   Change the dividend payout to 100%
-   Reverse split of 14 for 1 unit.
-   Payment of dividend each day

Trading will temporarily be halted later today and all open orders will be cancelled. After trading stop, each unit will be converted to 14 units and trading will resume shortly thereafter.

Details about this week’s dividend payout:
243.53169702 BTC in total from mining and converted NMC’s

- 173.75750347 BTC as dividend (0.00211533 BTC/share)
- 69.77419355 BTC as hosting fee

Team CryptX

So basically 4650 old petamine shares* 14 convert rate = 65100 new petamine shares in Cryptx's hands.