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

[Korbman]

Quick question to the general populace:

Anybody know what Cryptx originally paid for the first batch of A2 Innosilicon miners that came online directly after the IPO? I didn't find anywhere where Cryptx mentioned it (naturally), so instead I'm trying to find information / pricing from group buys that happened early / mid May (and possibly a few weeks earlier than that). Based on what I've seen so far, I've estimated $10,000 each, but I may be a bit off if there were other deals going on at the time.

[EdoBcn]

Quick question to the general populace:

Anybody know what Cryptx originally paid for the first batch of A2 Innosilicon miners that came online directly after the IPO? I didn't find anywhere where Cryptx mentioned it (naturally), so instead I'm trying to find information / pricing from group buys that happened early / mid May (and possibly a few weeks earlier than that). Based on what I've seen so far, I've estimated $10,000 each, but I may be a bit off if there were other deals going on at the time.

Are you trying to understand how they spent the 1162.281 btc of the ipo?

[Korbman]

Quick question to the general populace:

Anybody know what Cryptx originally paid for the first batch of A2 Innosilicon miners that came online directly after the IPO? I didn't find anywhere where Cryptx mentioned it (naturally), so instead I'm trying to find information / pricing from group buys that happened early / mid May (and possibly a few weeks earlier than that). Based on what I've seen so far, I've estimated $10,000 each, but I may be a bit off if there were other deals going on at the time.

Are you trying to understand how they spent the 1162.281 btc of the ipo?

Pretty much. Or rather, where did the money go? At $10k per device (when ordered in a large batch), that would mean there's somewhere close to BTC400 that have never been used. Even at $12,000 each (essentially the price to buy one at a time), that still leaves almost BTC245 in the air.

[EdoBcn]

These are the results of the survey. 59% of all unit holders have cast their vote:

1. One time dividend of the reinvestment fund. - 32%
2. Keep the reinvestment funds for future opportunities. - 68%

Based on these results a large majority of unit holders who cast their vote prefers to use option 2.

We are exploring the market for the best possible investment opportunities for our reinvestment fund. We are currently talking with Gawminer about purchasing Hashlets. All suggestions are welcome at info@cryptx.com.

[IamNotSure]

Quick question to the general populace:

Anybody know what Cryptx originally paid for the first batch of A2 Innosilicon miners that came online directly after the IPO? I didn't find anywhere where Cryptx mentioned it (naturally), so instead I'm trying to find information / pricing from group buys that happened early / mid May (and possibly a few weeks earlier than that). Based on what I've seen so far, I've estimated $10,000 each, but I may be a bit off if there were other deals going on at the time.

Are you trying to understand how they spent the 1162.281 btc of the ipo?

Pretty much. Or rather, where did the money go? At $10k per device (when ordered in a large batch), that would mean there's somewhere close to BTC400 that have never been used. Even at $12,000 each (essentially the price to buy one at a time), that still leaves almost BTC245 in the air.

On one hand, you whine because CryptX has scammed you with the intial investment

On other hand your vote #4 because you want them to look for "future opportunities"

Future opportunities for them to scam you again

It is not possible that 68% of the holders are that stupid, the vote is obviously rigged.

[NotLambchop]

...
It is not possible that ONLY 68% of the holders are that stupid...

FTFY

[IamNotSure]

...
It is not possible that ONLY 68% of the holders are that stupid...

FTFY

 

[EdoBcn]

[Korbman]

Pretty much. Or rather, where did the money go? At $10k per device (when ordered in a large batch), that would mean there's somewhere close to BTC400 that have never been used. Even at $12,000 each (essentially the price to buy one at a time), that still leaves almost BTC245 in the air.

On one hand, you whine because CryptX has scammed you with the intial investment

On other hand your vote #4 because you want them to look for "future opportunities"

Future opportunities for them to scam you again

It is not possible that 68% of the holders are that stupid, the vote is obviously rigged.

It appears you're confusing several separate issues as one (understandable, given you've never shown much insight to begin with):

Previous
Issue #1) Reinvestment is wholly necessary for the health of a mining enterprise. Regardless of who's behind the fund (again, a separate issue), reinvestment is the only way to maintain active growth. This isn't so much an argument as it is a fact.

Issue #2) Cryptx's piss-poor management and communication skills. Nothing more to say on this one.

New
Issue #3) A third of the original funding raised by the IPO should still exist...somewhere. Theoretically, it should still be in the ScryptX Havelock account, unless Cryptx lied to the Havelock team to have it all withdrawn. I'll save my judgement on this until I can dig in a bit more.

Issue #4) From what I've been able to gather so far, Cryptx is spending roughly $2,000 a week for a hosting fee, but given the equipment we're using the total fee should only amount to $1,500 or so (and this accounts for fluctuations in LTC/BTC and BTC/USD prices).

Issue #5) As for the vote being rigged, I agree with you there (until proven otherwise). Given the sentiment I fully expected reinvestment to be halted...but to see 2/3 of all votes sway the other way is a bit odd (I don't hold that many shares, and I certainly don't think voicing my opinion carries that much weight).

[NotLambchop]

@Korbman:

Issue #3) A third of the original funding raised by the IPO should still exist...somewhere. Theoretically, it should still be in the ScryptX Havelock account, unless Cryptx lied to the Havelock team to have it all withdrawn. I'll save my judgement on this until I can dig in a bit more.

You won't see any of that, regardless of Havelock holding it in escrow or not.

We are still holding 100 BTC in escrow for MS

The issuer has been incommunicado since

Update is under review by Havelock.

Havelock's last response (note date):

There are no plans to release any additional units of the Fund.

Everyone understood that the success of this company is heavily depended on the Bitcoin price and popularity.

If and when Bitcoin makes a "comeback" in price, so will the customers that want to trade their electronics for Bitcoin.

Best of luck 2 U.

[nwfella]

Quick question to the general populace:

Anybody know what Cryptx originally paid for the first batch of A2 Innosilicon miners that came online directly after the IPO? I didn't find anywhere where Cryptx mentioned it (naturally), so instead I'm trying to find information / pricing from group buys that happened early / mid May (and possibly a few weeks earlier than that). Based on what I've seen so far, I've estimated $10,000 each, but I may be a bit off if there were other deals going on at the time.

Are you trying to understand how they spent the 1162.281 btc of the ipo?

Pretty much. Or rather, where did the money go? At $10k per device (when ordered in a large batch), that would mean there's somewhere close to BTC400 that have never been used. Even at $12,000 each (essentially the price to buy one at a time), that still leaves almost BTC245 in the air.

On one hand, you whine because CryptX has scammed you with the intial investment

On other hand your vote #4 because you want them to look for "future opportunities"

Future opportunities for them to scam you again

It is not possible that 68% of the holders are that stupid, the vote is obviously rigged.

High degree of likelihood it was fixed imho.  Certainly wouldn't put it past CryptX at this point.  As for the 245BTC outstanding BTC I'm 100% certain you won't get any sort of definitive answer from CryptX himself.  His sha project is literally 5-8 weeks (max) from total failure, and all this more than likely vote results in is more pain for shareholders over time I'm afraid. 

[pedrog]

Glad to see this fund isn't going the same path PETA did, although I managed not to lose any money with PETA I cannot do the same with this fund if things went the same way.

I've said this several times on this topic and sent as a comment on surveys, why aren't we using multipools?!

We are paid bitcoin, I don't care what coin we are mining!

I've read somewhere about scrypt merged mining, is this a thing?

And of course, it would be nice having CryptX around...

[removebeforeflight]

Can anyone comment on the Litecoin difficulty leveling off? Looks like the Litecoin price has also leveled. Therefore can
we expect to at least sustain the current dividends and share value.

[alexius89]

The fact that cryptx is looking into deals with GAW sounds not bad actually!

Those hashlets are pretty well and I'm sure its possible to get a lot of discount too.

There are lots of information here:  https://hashtrader.com/

check it out if you dont know what it is.

[Korbman]

The fact that cryptx is looking into deals with GAW sounds not bad actually!

Those hashlets are pretty well and I'm sure its possible to get a lot of discount too.

Not bad, sure, but I have one big problem with Cryptx going that direction: Do they plan on charging their $0.25 fee on top of GAW's $0.08 maintenance fee (even though they're not hosting anything)? They haven't been clear on that, and I wouldn't put it past them to "forget" about clarifying.

[webbrowser]

@Korbman:

Issue #3) A third of the original funding raised by the IPO should still exist...somewhere. Theoretically, it should still be in the ScryptX Havelock account, unless Cryptx lied to the Havelock team to have it all withdrawn. I'll save my judgement on this until I can dig in a bit more.

You won't see any of that, regardless of Havelock holding it in escrow or not.

What are the conditions that must be fulfilled before Havelock releases escrowed funds to the asset issuer?

[NotLambchop]

...
What are the conditions that must be fulfilled before Havelock releases escrowed funds to the asset issuer?

A question which Havelock refuses to answer.  The corollaries have also been asked and remain unanswered:

1.  What conditions must be met for the issuer to be considered in breach of contract?
2.  How long may the issuer be (1) for the escrowed funds to be forfeited by the issuer?
3.  What will happen in case of (2)?
4.  How long does Havelock have to respond after (1) becomes a boolean 1?
5.  What recourse is available to the investors if Havelock fails to act?

All good, simple questions which must be answered before "Don't worry, ur monyz b held by us" becomes meaningful.

[burner2014]

http://gawminers.com/pages/hashlet-prime

Nice! Hope Scrypt X is buying them. I send them an email.

Now I buy more shares.. the price will increase.

Cheers

[pedrog]

I'm sorry, why is GAWMiners a good deal for us?

[Korbman]

I'm sorry, why is GAWMiners a good deal for us?

Good question, since the whole situation doesn't make much sense when you start to break it down. We give Cryptx money, and then they use that money to buy cloud miners...making them an unnecessary middleman.

In reality, the math sort of breaks down to:
Cheapest Hashlet - $16.95 per 1MH/s + $0.08 in hosting / power / fees = $17.03 per 1MH/s
GAWMiner War Machine - $13.89 per 1MH/s, + $0.20* in hosting / power / fees = $14.09 per 1MH/s

* - 1800W @ 54MH/s = 33.33W per MH/s = 0.8 kWh per day. This is $0.20 per MH/s @ $0.25 in fees per kWh.

The hashlet is marketed toward the average consumer who doesn't have the space or electrical capacity to mine. We've got that with Scryptx, so why not just buy hardware?