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

[pedrog]

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?

Oh, ok, I didn't find those prices in their website, and, I assume, we can also benefit from a discount up to 20% by buying in bulk, looks better deal than the one offered previously.

[burner2014]

Better than everything in the last 2 months.. sorry but I am happy with little steps. Better to buy overpriced A2 Miners with overpriced Hosting Fees..

[webbrowser]

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?

Those hosting/power/fees figures are per day.  ie,
Cheapest Hashlet per MH/s: $16.95 up-front, + $0.08 per day or $2.40 per month of 30 days
GAWMiner War Machine, per MH/s: $13.89 up-front, + $0.20 per day or $6 per month of 30 days.

So, plugging 1MH/s and 0W power usage into Litecoinpool's mining calculator, I get this based on current difficulty:
Expected Rewards
24 hours   0.03439600 LTC   0.17 USD
7 days   0.24077197 LTC   1.18 USD
30 days   1.03187988 LTC   5.07 USD

Clearly, GAWMiner War Machine at SCRYPT's ludicrous hosting fees is immediately non-profitable (unless you are cryptx).

As for the expectation of profit with the Hashlet...  I woudn't count on it.  It's not just about litecoin difficulty (which seems to be somewhat stable), but also about exchange rates (which are on a long-term downward trend).

[Korbman]

Those hosting/power/fees figures are per day.  ie,
Cheapest Hashlet per MH/s: $16.95 up-front, + $0.08 per day or $2.40 per month of 30 days
GAWMiner War Machine, per MH/s: $13.89 up-front, + $0.20 per day or $6 per month of 30 days.

So, plugging 1MH/s and 0W power usage into Litecoinpool's mining calculator, I get this based on current difficulty:
Expected Rewards
24 hours   0.03439600 LTC   0.17 USD
7 days   0.24077197 LTC   1.18 USD
30 days   1.03187988 LTC   5.07 USD

Clearly, GAWMiner War Machine at SCRYPT's ludicrous hosting fees is immediately non-profitable (unless you are cryptx).

As for the expectation of profit with the Hashlet...  I woudn't count on it.  It's not just about litecoin difficulty (which seems to be somewhat stable), but also about exchange rates (which are on a long-term downward trend).

This is true. I should have clarified above that it was more of an upfront cost as opposed to ongoing...though ongoing is the more important one. It costs $324 to run a 54MH/s War Machine for a month, but at this current difficulty, 54MH/s would only generate about 55-60 LTC ($275-300). Ouch.

Obviously this isn't the best option unless we shy away from mining just Litecoin and focus on a multipool.

[nwfella]

I strongly suspect CryptX will decide to go with GAW miner's as this would result in more hosting/admin fee bang for the buck as far as he is concerned.

[TheSmackDown]

whats the point. thats just paying crypt x as a middle man?

[webbrowser]

whats the point. thats just paying crypt x as a middle man?

You seem to have the impression that is not cryptx's purpose for this project.

[TheSmackDown]

i thort they were building machines based on chips?

[strombert]

now I need months just for the withdrawal fees 4 shares hodl !

[Tatsumigaoka]

This looks more worthwile:

https://bitmaintech.com/productDetail.htm?pid=00020140830074550960Um75pnzg06E3

Current investment fund could buy almost 9 GH/s, not including bulk rebates

[stompysteve]

This looks more worthwile:

https://bitmaintech.com/productDetail.htm?pid=00020140830074550960Um75pnzg06E3

Current investment fund could buy almost 9 GH/s, not including bulk rebates

Ships in december.....

[Morguk]

I'd love to be able to convert shares straight to personal Hashlets..

[TheSmackDown]

I would love all my BTC back. 

[EdoBcn]

I would love all my BTC back. 

i'd love even to have just 50% of mine back...

[Morguk]

I would love all my BTC back. 

i'd love even to have just 50% of mine back...

Same We got badly ripped.

[burner2014]

One Question. Was the PETA Project not same fucked up till it got the turnaround? I mean it will take 6-12 months to get to IPO Share prices back but isnt it possible? If we reinvest everything every week into new hashlets and we have a bit luck with mining profibility ? Then also a bit luck with BTC prices in the next 12 months?

I don't understand how people can give up and don't try to make the best out of the worst. I think that crypt x is listening to us the first time is a good first move.

[EdoBcn]

One Question. Was the PETA Project not same fucked up till it got the turnaround? I mean it will take 6-12 months to get to IPO Share prices back but isnt it possible? If we reinvest everything every week into new hashlets and we have a bit luck with mining profibility ? Then also a bit luck with BTC prices in the next 12 months?

I don't understand how people can give up and don't try to make the best out of the worst. I think that crypt x is listening to us the first time is a good first move.

no. peta was doing good until it got fucked up. by the same guys who managed to fuck up scryptx.
We have over 100btc sitting there doing nothing. The same that I thought about my dear btc sitting on a paper wallet. Better ised investing in peta, then scryptx. now they are not mine anymore. Now I don't have enough buy orders on havelock to get out of here with a 90% loss.

but hey, you don't need to trust me. Feel free to throw all your btc in here. You could save someone (and depending on how many btc you will enter with, you could even raise the shareprice!)

[webbrowser]

One Question. Was the PETA Project not same fucked up till it got the turnaround? I mean it will take 6-12 months to get to IPO Share prices back but isnt it possible? If we reinvest everything every week into new hashlets and we have a bit luck with mining profibility ? Then also a bit luck with BTC prices in the next 12 months?

I don't understand how people can give up and don't try to make the best out of the worst. I think that crypt x is listening to us the first time is a good first move.

In my opinion, PETA was being bled dry from the start. I don't think it ever had a turnaround. If you're referring to the May/June IPO, investors simply didn't understand what the exploding network hash rate, uncompetitive hosting fees and repayment for the loan really meant.

Given the past history, there's no chance that a new IPO by cryptx will be met warmly. I don't think there's any chance for SCRYPT to return to IPO prices.

[nwfella]

One Question. Was the PETA Project not same fucked up till it got the turnaround? I mean it will take 6-12 months to get to IPO Share prices back but isnt it possible? If we reinvest everything every week into new hashlets and we have a bit luck with mining profibility ? Then also a bit luck with BTC prices in the next 12 months?

I don't understand how people can give up and don't try to make the best out of the worst. I think that crypt x is listening to us the first time is a good first move.

In my opinion, PETA was being bled dry from the start. I don't think it ever had a turnaround. If you're referring to the May/June IPO, investors simply didn't understand what the exploding network hash rate, uncompetitive hosting fees and repayment for the loan really meant.

Given the past history, there's no chance that a new IPO by cryptx will be met warmly. I don't think there's any chance for SCRYPT to return to IPO prices.

There is about 0 probability of this happening.  I just finished dumping my shares for ~73% loss and truth be known I consider myself lucky to have gotten back 27% on what I put in.  Both ScryptX and Petamine where obviously designed with the 'long con' in mind.  Get out while you can is my recommendation.  Given CryptX's track record things will only continue to get worse.

[EdoBcn]

One Question. Was the PETA Project not same fucked up till it got the turnaround? I mean it will take 6-12 months to get to IPO Share prices back but isnt it possible? If we reinvest everything every week into new hashlets and we have a bit luck with mining profibility ? Then also a bit luck with BTC prices in the next 12 months?

I don't understand how people can give up and don't try to make the best out of the worst. I think that crypt x is listening to us the first time is a good first move.

In my opinion, PETA was being bled dry from the start. I don't think it ever had a turnaround. If you're referring to the May/June IPO, investors simply didn't understand what the exploding network hash rate, uncompetitive hosting fees and repayment for the loan really meant.

Given the past history, there's no chance that a new IPO by cryptx will be met warmly. I don't think there's any chance for SCRYPT to return to IPO prices.

There is about 0 probability of this happening.  I just finished dumping my shares for ~73% loss and truth be known I consider myself lucky to have gotten back 27% on what I put in.  Both ScryptX and Petamine where obviously designed with the 'long con' in mind.  Get out while you can is my recommendation.  Given CryptX's track record things will only continue to get worse.

I'm really curious to know who purchased your shares...