[EDIT] please deleted

[mikemikemike]

This has been resolved.

[1714484928]

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[1714484928]

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[1714484928]

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[cryptx]

Everybody,

Just to inform you about the practices of these 2 people: mikemikemike and Effect. We have been receiving messages from them with bribe suggestions and threads. This is something that cannot be tolerated. Here are some quotes from their PM’s:

From Effect
“I know mikemikemike in real life. Infact were in the same hotel as I speak. If you want him to stop and delete his posts just pay him off and you can continue running your sham.”
“I really would like to enjoy my holiday, so just speak to him. He's a very determined person, he won't let this go until he has a reason to let it go.”
“I'm just trying to give both of you a way out, it's the only thing I can think of. And it's not the first time he's been paid to keep quiet. He's a very smart guy, but money controls him.”
“But How ever much he says he's not pissed off, he is, you guys screwed him and other investors by upping the share price of CryptX while SCRYPT was just being born.”

From mikemikemike
“So apart from you guys screwing over most of your more serious investors by artificially bumping up the price to 0.095 while all we deviated our funds to Scrypt. I'm not saying this was intentional, but it did fuck us over. I'm saying you didn't think about us. Which is fair enough, this is business, and time is of the essence.”
“If you don't then I'm gonna go fully public with everything I know. It will be said in allllot more detail, spoken in allot better language, and I will give full projections that no offence, make yours look like child's work. I used to do it for a living. When this gets out, and your motives do to, your IPO will never sell, you guys won't make anywhere near as much money, and ill make sure it gets to every article site and forum on the web. I hire people to do that for me.”
“I know this has been a pretty blunt email but I hope you understand where I'm coming from. I've never been that straight edged myself but this is ridiculous.”
“I'm going to get to work on my own projections tonight if I don't hear from you and make them public”

[mikemikemike]

Everybody,

Just to inform you about the practices of these 2 people: mikemikemike and Effect. We have been receiving messages from them with bribe suggestions and threads. This is something that cannot be tolerated. Here are some quotes from their PM’s:

From Effect
“I know mikemikemike in real life. Infact were in the same hotel as I speak. If you want him to stop and delete his posts just pay him off and you can continue running your sham.”
“I really would like to enjoy my holiday, so just speak to him. He's a very determined person, he won't let this go until he has a reason to let it go.”
“I'm just trying to give both of you a way out, it's the only thing I can think of. And it's not the first time he's been paid to keep quiet. He's a very smart guy, but money controls him.”
“But How ever much he says he's not pissed off, he is, you guys screwed him and other investors by upping the share price of CryptX while SCRYPT was just being born.”

From mikemikemike
“So apart from you guys screwing over most of your more serious investors by artificially bumping up the price to 0.095 while all we deviated our funds to Scrypt. I'm not saying this was intentional, but it did fuck us over. I'm saying you didn't think about us. Which is fair enough, this is business, and time is of the essence.”
“If you don't then I'm gonna go fully public with everything I know. It will be said in allllot more detail, spoken in allot better language, and I will give full projections that no offence, make yours look like child's work. I used to do it for a living. When this gets out, and your motives do to, your IPO will never sell, you guys won't make anywhere near as much money, and ill make sure it gets to every article site and forum on the web. I hire people to do that for me.”
“I know this has been a pretty blunt email but I hope you understand where I'm coming from. I've never been that straight edged myself but this is ridiculous.”
“I'm going to get to work on my own projections tonight if I don't hear from you and make them public”

The actual PM that was sent. I will speak to E f f e c T in the morning.


Look guys, I've decided to contact you directly to get this resolved. I've been your most vocal supporter, I've spent a large amount if my time defending you guys and this project throughout the forums, even when everything was going shit and we were late to deliver, why? Because I trusted you guys. I ignored all my personal feelings towards long term investing and finally settled down to a project. I even got a few of my friends to invest. Which might I say, they are still probably very happy, but they don't know any better.

So apart from you guys screwing over most of your more serious investors by artificially bumping up the price to 0.095 while all we deviated our funds to Scrypt. I'm not saying this was intentional, but it did fuck us over. I'm saying you didn't think about us. Which is fair enough, this is business, and time is of the essence.

Apart from that, here comes the serious problem, you've now changed PETA from partially beneficial to investors, to full out hit and run. You know as well as I do you've allocated the reinvestment percentage so high initially to have more machines, and to supply yourselves with more profit. You'll argue that this is to secure the long term future of the project but we both know that only benefits you and not investors, you could give investors a twice better ROI if you pumped out the dividends at 50/50 and the project died in six months instead of prolonging it for a year. By you don't want to do that. So what do you do? You post false projections again that are utterly misleading to garner interest for the IPO, because you know as well as I do once the IPO is over you guys are pretty much guaranteed a million dollar plus income over the next year, and that's if BTC stays the same, and we both know it won't.

Usually I'd be like whatever, but I've sat around and supported you guys for so long, that now you've fucked me over I'm pissed.

I know exactly what your doing, i spent a few years in industry analysing situations like this for a living and I'm pretty good at it.

Fix the projections, readjust the reinvestment percentage to something that is actually beneficial to your investors. You know as well as I do when the difficulty starts increasing people are going to realise there is no profit in this for them and the share price is going to crash through the floor. You guys will still make allot of money, but not at the cost of your investors.

If you don't then I'm gonna go fully public with everything I know. It will be said in allllot more detail, spoken in allot better language, and I will give full projections that no offence, make yours look like child's work. I used to do it for a living. When this gets out, and your motives do to, your IPO will never sell, you guys won't make anywhere near as much money, and ill make sure it gets to every article site and forum on the web. I hire people to do that for me.

This might sound threatening, but all I'm asking is for you to do the right thing, decrease your own profits, and give your investors something that will actually benefit them and not lose them serious amounts of money, and stop misleading them! Those projections need to be fixed, you know linear increases are never going to happen, frankly, I'm shocked about how bold you have been with your misinformation.

I know this has been a pretty blunt email but I hope you understand where I'm coming from. I've never been that straight edged myself but this is ridiculous.

I'm going to get to work on my own projections tonight if I don't hear from you and make them public

Anyways, I'm off to the beach. Ill have my phone on me to check messages.

Peaceeeeee

[michaelGedi]

fair so far, where's the bribery?

[mikemikemike]

fair so far, where's the bribery?

There isn't. It looks like a friend of mine told them to speak to me directly or just pay me off. Something which I never would have accepted. I will speak to him when he wakes up. I will also get the full PM he sent and post it here, as I do not believe, like the PM I sent, that is the whole story. And instead, just like above, CryptX are just covering up what was actually said to further their own fraud.

Edit: screenshot of proof of the full PM I sent

http://imgur.com/zbBjoC5

[cryptx]

[cryptx]

Please explain how we are funnelling funds to our solar company?

[mikemikemike]

Please explain how we are funneling funds to our solar company?

I've explained it above. You are lying to your investors with false projections, your reinvestment strategy is set out to maximise hosting fees. As such, you are taking away the early dividends from you investors to pay yourself in fees, you know as well as I do, and as well as anyone else who now views this thread, investors will never see a return even close to what you have told them, while all this time, you are going to pay yourself 10,000 BTC in hosting fees.

This is a blatant extortion attempt to take the capital that your investors are giving you, at an artificial share price set by yourself, to make enough machines to pay your hosting provider, which looking at your LinkedIn profile, appears to be yourselves, the most amount of revenue over the next year while destroying investor returns in the process.

And all this you are doing under the guise of a fancy prospectus and utterly bullshit projections. Projections that you still won't fix to this day, to actually show your investors what your actually going to do.

[cryptx]

Please explain how we are funneling funds to our solar company?

I've explained it above. You are lying to your investors with false projections, your reinvestment strategy is set out to maximise hosting fees. As such, you are taking away the early dividends from you investors to pay yourself in fees, you know as well as I do, and as well as anyone else who now views this thread, investors will never see a return even close to what you have told them, while all this time, you are going to pay yourself 10,000 BTC in hosting fees.

Please check out all competition about the hosting fee and also pls calculate the costs to build a datacenter to hold 1,500 TH/s.

[mikemikemike]

Please explain how we are funneling funds to our solar company?

I've explained it above. You are lying to your investors with false projections, your reinvestment strategy is set out to maximise hosting fees. As such, you are taking away the early dividends from you investors to pay yourself in fees, you know as well as I do, and as well as anyone else who now views this thread, investors will never see a return even close to what you have told them, while all this time, you are going to pay yourself 10,000 BTC in hosting fees.

Please check out all competition about the hosting fee and also pls calculate the costs to build a datacenter to hold 1,500 TH/s.

Please see false projections, and please see a reinvestment strategy to maximise hosting fees, in complete contrast to investors returns. As I've said before. JUST FIX THE PROJECTIONS. Then you know as well as I do your investors will see the true nature of your fraud. But you won't, infact, I expect you to delete them so just so you know, I've made a backup.

[mikemikemike]

Backup of projections can be found here - http://imgur.com/VpqFaZH

[mikemikemike]

Just a footnote.

The ROI predicted by them is complete bullshit. The share price at the moment is artificial. Once investors realise this over the coming weeks the price is going to skyrocket down. Please read all of the above. This is the 100% truth, and can be verified just by looking at the facts, moreso than anything, the projections.

[mikemikemike]

Someone else has run the projections. I wanted to post my own but i thought it would look like I'm BSing.

Please see below.

*snip*

Excellent work. But the reinvestment percentage is 90% going down three - four percent every period. Could you run the numbers using the reinvestment percentage cryptX has said they are going to use?

You can find it here.

https://docs.google.com/spreadsheet/ccc?key=0AjI5bgsiFJAidHgwa0UyTHNEVG1lbDdvN2FMTExvOHc&om=true&richtext=false#gid=32

Once you've put those numbers in you'll know exactly why I've been going batshit crazy.

Okay after adjusting the reinvestment it is a more optimistic outcome and the adjustments in weeks to payback debt, dividends received are adjusted now.

Worst case still 9 weeks but total dividend to shareholders is up to 192.708

Best case still 0 weeks but total dividend to shareholders is up to 2149.708

Realistic projection goes up to 5 weeks but total dividend to shareholders up to 1142.708

This reinvestment plan CryptX has will actually extend the life on the mine and will bring the estimated year prediction up to ~13,000 BTC. About 30% better than my first prediction.

How can the dividend go up in the first ten weeks if the reinvestment percentage is much higher?

No offence but you have done something seriously wrong.

Please post the numbers

The dividend will suffer a loss during the first few weeks after IPO but the additional reinvestment will actually keep up with the difficulty increase longer than the original 35% reinvestment plan. As you can see in the realistic projection it will take an extra week to pay off the debt but the estimated BTC each week is also greater that the mine will yield. Notice how the estimated BTC column stays at a higher yield compared to the first prediction at 35% reinvestment and you will understand how a higher dividend is possible after 10 weeks of operation.  Since CryptX's predictions are based on 10 day periods and mine are on 7 day periods to equal the target blocktime the reinvestment % is down to 2.1% which when averaged out to CryptX's 10 day of 3% less will be almost the same.

Worst case.
Difficulty   Network Hash   Peta hashrate   Estimated BTC   Hosting Fee   Peta BTC   Reinvestment   Dividends   BTC to pay back
10092894592   72248.856   1500.000   523.192   130.798   392.394   353.154   39.239   1917.761
11606828781   83086.185   1500.000   454.949   113.737   341.212   299.925   221.788   1695.973
11606828781   83086.185   1680.637   509.737   127.434   382.302   328.015   248.497   1447.476
13347853098   95549.112   1834.048   483.710   120.927   362.782   303.649   235.808   1211.668
13347853098   95549.112   2001.827   527.959   131.990   395.970   323.111   257.380   954.288
15350031063   109881.479   2157.143   494.715   123.679   371.036   294.974   241.173   713.114
17652535722   126363.701   2322.413   463.146   115.786   347.359   268.856   225.784   487.331
17652535722   126363.701   2473.292   493.235   123.309   369.926   278.554   240.452   246.879
20300416080   145318.256   2610.811   452.747   113.187   339.560   248.558   220.714   26.164
20300416080   145318.256   2753.290   477.455   119.364   358.091   254.603   232.759   -206.595

Best case.
Difficulty   Network Hash   Peta hashrate   Estimated BTC   Hosting Fee   Peta BTC   Reinvestment   Dividends   BTC to pay back
10092894592   72248.856   1500.000   523.192   130.798   392.394   353.154   39.239   -39.239
11606828781   83086.185   1500.000   454.949   113.737   341.212   299.925   221.788   -261.027
11606828781   83086.185   1680.637   509.737   127.434   382.302   328.015   248.497   -509.524
13347853098   95549.112   1834.048   483.710   120.927   362.782   303.649   235.808   -745.332
13347853098   95549.112   2001.827   527.959   131.990   395.970   323.111   257.380   -1002.712
15350031063   109881.479   2157.143   494.715   123.679   371.036   294.974   241.173   -1243.886
17652535722   126363.701   2322.413   463.146   115.786   347.359   268.856   225.784   -1469.669
17652535722   126363.701   2473.292   493.235   123.309   369.926   278.554   240.452   -1710.121
20300416080   145318.256   2610.811   452.747   113.187   339.560   248.558   220.714   -1930.836
20300416080   145318.256   2753.290   477.455   119.364   358.091   254.603   232.759   -2163.595

Realistic case.
Difficulty   Network Hash   Peta hashrate   Estimated BTC   Hosting Fee   Peta BTC   Reinvestment   Dividends   BTC to pay back
10092894592   72248.856   1500.000   523.192   130.798   392.394   353.154   39.239   967.761
11606828781   83086.185   1500.000   454.949   113.737   341.212   299.925   221.788   745.973
11606828781   83086.185   1680.637   509.737   127.434   382.302   328.015   248.497   497.476
13347853098   95549.112   1834.048   483.710   120.927   362.782   303.649   235.808   261.668
13347853098   95549.112   2001.827   527.959   131.990   395.970   323.111   257.380   4.288
15350031063   109881.479   2157.143   494.715   123.679   371.036   294.974   241.173   -236.886
17652535722   126363.701   2322.413   463.146   115.786   347.359   268.856   225.784   -462.669
17652535722   126363.701   2473.292   493.235   123.309   369.926   278.554   240.452   -703.121
20300416080   145318.256   2610.811   452.747   113.187   339.560   248.558   220.714   -923.836
20300416080   145318.256   2753.290   477.455   119.364   358.091   254.603   232.759   -1156.595

Ok. Theres your problem. You have only used the new reinvestment percentage for the dividend for the first week. See where it jumps from 39.239 to 221.778? I don't think you pasted the formula down

Thank you for spotting that! Ok after dragging the formula down WOW! This reinvestment plan is amazing for the mine and CryptX! But for shareholders it is HORRIBLE!

Worst case: 21 weeks to pay back debt.

Best case: 0 weeks but only 707 BTC total dividends paid out to shareholders.

Realistic case: 13 weeks to pay back debt with a total of 22.121 BTC in dividends paid out to shareholders.

Thanks, it's nice to hear from someone else I'm not crazy. Best case : 707 BTC. That's less than a 10% yield. Worst case your hanging around for 21 weeks without dividends and they pay themselves over half a million dollars in fees.

 Is this starting to get through to people yet or am I still sounding crazy?

[jimmothy]

Source for PETA owning a solar company?

Also anyone know the total divs up to this point?

[mikemikemike]

Source for PETA owning a solar company?

Also anyone know the total divs up to this point?

If you go to the website, grab their names, and search through LinkedIn, you will find the owners. It's got there what they do.

Total divs have been good up until this point. But this new update is going to kill them off

[jimmothy]

Source for PETA owning a solar company?

Also anyone know the total divs up to this point?

If you go to the website, grab their names, and search through LinkedIn, you will find the owners. It's got there what they do.

Total divs have been good up until this point. But this new update is going to kill them off

What is the exact total divs? If it is less than 3,000 btc then they have technically never made a profit.

I am starting to think petamine is just a complex scheme to sell electricity. $0.45/kwh is about 10 times what you would get selling to the grid.

[mikemikemike]

Source for PETA owning a solar company?

Also anyone know the total divs up to this point?

If you go to the website, grab their names, and search through LinkedIn, you will find the owners. It's got there what they do.

Total divs have been good up until this point. But this new update is going to kill them off

What is the exact total divs? If it is less than 3,000 btc then they have technically never made a profit.

I am starting to think petamine is just a complex scheme to sell electricity. $0.45/kwh is about 10 times what you would get selling to the grid.

I'm not too sure exactly.

But yup, that's pretty much what I've been trying to say. Bleed one company and give to another. Just have some absolutely stupid investors who can't see what this update actually is, because they are too blinded by the emotional contention they have with this investment, who would frankly, by the looks of it, argue 2+2 equaled 5 if they had money on it. but whatever.

[mikemikemike]

I was a stanch supporter of PETA-MINE

Then learn your lesson and stop supporting companies blindly just because you invested in them.

I didn't. I did extensive due diligence beforehand. Their cash grab has only happened in the past few days. Thanks for your opinion though, extremely insightful.

[jimmothy]

This is apparently something peta really doesn't want you to know.

A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

Only on this forum would people think it makes sense for a company to sell 3000btc worth of shares to give investors 1500btc worth of hardware with expensive hosting fees.

[mikemikemike]

This is apparently something peta really doesn't want you to know.

A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

Only on this forum would people think it makes sense for a company to sell 3000btc worth of shares to give investors 1500btc worth of hardware with expensive hosting fees.

They delete all your posts aswell?