Topic: [BTC-TC] CryptX introduces the PETA-MINE - 18,000 CHIPS IN SEPTEMBER/UPDATE - page 17. (Read 238096 times)
August 27, 2013, 04:02:26 AM
Unfortunately there is not an excitement about this IPO. Donno if you will succeed. Bonne chance !!!
August 27, 2013, 04:00:49 AM
My concern is also the supply of chip. If your supplier cannot provide the chip as planned, investors will be doomed.
Avalon issue is the best sample.
Avalon issue is the best sample.
August 27, 2013, 03:37:03 AM
Update BTC-TC application:
We have now received 3 YES votes on our application.
We have now received 3 YES votes on our application.
August 26, 2013, 11:43:03 AM
Cryptx. I noticed you took down the buy button on your website. So we have to wait for btct.co now?
We took it down to not jeopardize or listing on BTC-TC. We are approved by the admin and are bumped up from “locked” to “awaiting approval”. We have received already 2 positive votes. When we reach 5 positive votes we will go to market.
https://btct.co/security/PETA-MINE
August 26, 2013, 10:52:40 AM
We will initially deploy systems based on Cointerra's chip. Future deployment from reinvestment is not bound to a single supplier, this allows diversification as well as make the best decision in terms of price, scalability, ROI and time of deployment.
Well, I'll keep watching, then, but until that hardware diversification happens, there's really no risk mitigation by investing with you compared to any other mining operation, unless I diversify on my own and choose a bunch of miners that use different suppliers (but, as I said before, pure mining plays aren't really all that attractive to me.) If (once) you provide true hardware diversification, you might get my attention. August 26, 2013, 10:38:16 AM
by single-sourcing the chips, your supply chain is at the mercy of that single supplier, making you effectively no more attractive than any other of the many pure-mining plays. Since pure mining plays aren't all that interesting to me, I won't even think about investing here unless you differentiate yourselves by doing one (or both!) of the following:
1.) You become your own supplier of chips
2.) You sign a contract with at least one other chip supplier
1.) You become your own supplier of chips
2.) You sign a contract with at least one other chip supplier
We have been in contact with a number of other chip suppliers (Avalon, Bitfury and Hashfast).
We made an early purchase of 10,000 Avalon chips and are still waiting for the batch to arrive. We excluded Avalon for future cooperation because of these reliability issues.
Bitfury chips were considered because of their appealing delivery date. We received sample chips and send them to Burnin (he is currently testing the chips and making a prototype). For now we are not pursuing this road because of the downside of scalability and power consumption. But if an opportunity comes up here, we are ready.
Hashfast was a price issue. The difference in delivery time with Cointerra was so short, the price difference could not be justified. (chip is also not as performant as Cointerra's chip)
We have confidence in the design and time schedule of Cointerra and have extensive contact with them to follow up on their progress.
We will initially deploy systems based on Cointerra's chip. Future deployment from reinvestment is not bound to a single supplier, this allows diversification as well as make the best decision in terms of price, scalability, ROI and time of deployment.
August 26, 2013, 09:54:56 AM
But, Based on the information from cointerra they're only going to give you a 20% discount on your NEXT purchase and only if they ship late. So you have to plop down more money for the joy of having your initial batch delivered late. There's no guarantee of additional hardware to help recoup your investment.
We will deploy an extra 20% of hashing power for no charge for every 30 days we are late. You can find more about this under "THE INSURANCE":
http://www.cryptx.com/faq/
IMPORTANT: The cost of the extra 20% will not come from the revenue of the PETA-MINE. We have a clause in our contract with Cointerra which states we will receive an additional 20% for free.
August 26, 2013, 09:54:24 AM
by single-sourcing the chips, your supply chain is at the mercy of that single supplier, making you effectively no more attractive than any other of the many pure-mining plays. Since pure mining plays aren't all that interesting to me, I won't even think about investing here unless you differentiate yourselves by doing one (or both!) of the following:
1.) You become your own supplier of chips
2.) You sign a contract with at least one other chip supplier
And in any event, the "shareholder protection" clauses where the issuer will deploy additional hash power "at no cost to the investor" in the event of a missed deadline is highly, HIGHLY suspect. Where does the money for this additional hash power come from, if not from the profits of the company? You know, the profits that dividends are pulled from? Something doesn't smell right about the way this is being described in the contract.
1.) You become your own supplier of chips
2.) You sign a contract with at least one other chip supplier
And in any event, the "shareholder protection" clauses where the issuer will deploy additional hash power "at no cost to the investor" in the event of a missed deadline is highly, HIGHLY suspect. Where does the money for this additional hash power come from, if not from the profits of the company? You know, the profits that dividends are pulled from? Something doesn't smell right about the way this is being described in the contract.
August 25, 2013, 03:26:45 PM
Why would anyone pay $16K for 2Th/s when they can get 1.6Th/s for $5.75K??
I suppose you refer to the protection program of Hashfast. Worst case (If you only mine 12.5BTC with your 50 BTC Baby Jet) you get an extra 1.6 TH/s, which will be sent to you in chips 90 days after you have received your BabyJet. This means they ship you an extra 1,6 TH/s in chips around 1 march 2014. You also have to buy ASIC-ready rigs for the chips.
August 25, 2013, 12:59:26 AM
This and Icredrill are pure crap designed to only benefit the scam artists putting them together.
Might as well you post you bitcoin address and say send me money.
Might as well you post you bitcoin address and say send me money.
August 24, 2013, 07:11:49 PM
I'm very happy to be able to get liquid, tradable Cointerra exposure. This will balance/hedge my Ice.Drill nicely.
Good luck with BTCT, their bigwigs seem to resent non-Chinese scam IPOs, as evidenced by their denial of ID's listing.
Thx for doing this.
Good luck with BTCT, their bigwigs seem to resent non-Chinese scam IPOs, as evidenced by their denial of ID's listing.
Thx for doing this.
August 24, 2013, 06:31:44 PM
We are undergoing the thorough procedure at BTC-TC. There is no fixed time frame for that.
We keep you updated on the progress.
We keep you updated on the progress.
August 24, 2013, 06:29:15 PM
Quote
The BTC-TC application is not editable.
Thats too bad because with that one you are never getting approved. This is so sloppy put together probably in hurry...
Also after icedrill fiasco you should include no private buys outside of BTCT
August 24, 2013, 06:06:08 PM
We are currently under moderator review and approval.
You can see our asset here:
https://btct.co/security/PETA-MINE
You can see our asset here:
https://btct.co/security/PETA-MINE
August 24, 2013, 05:59:38 PM
So you wish to acquire $6.8+ million for this contract with cointerra?
No matter the facts you present and plans you speak of, this sum appears outrageous relative the prospectus.
However I have the ability to overlook things from time to time, what am I missing? And please, spare the $/gh outlook, this is BTCland. Far too many variables control this risk before I can see reasonable profit margins.
EDIT:
After reading your listing on BTCT.co you state the IPO is succesful if 30,000 shares at .65 are sold, yet in this thread you say the same amount sold are required but at an increased price point at .675. Which is it?
Furthermore, I saw nothing in PETA-MINE's details on btct informing of a specific percentage used to fund the reinvestment account. Not too mention, imho 35% seems a little high.
And the final whammy, with optimistic outlook, I've got to wait until December to start hashing?
Thank you for pointing out any inconsistencies. No matter the facts you present and plans you speak of, this sum appears outrageous relative the prospectus.
However I have the ability to overlook things from time to time, what am I missing? And please, spare the $/gh outlook, this is BTCland. Far too many variables control this risk before I can see reasonable profit margins.
EDIT:
After reading your listing on BTCT.co you state the IPO is succesful if 30,000 shares at .65 are sold, yet in this thread you say the same amount sold are required but at an increased price point at .675. Which is it?
Furthermore, I saw nothing in PETA-MINE's details on btct informing of a specific percentage used to fund the reinvestment account. Not too mention, imho 35% seems a little high.
And the final whammy, with optimistic outlook, I've got to wait until December to start hashing?
The share price of .65 BTC is the correct one.
The 65/35 percentages were chosen after careful consideration of the current and the future market. The 35% is a trade-off between difficulty and the possibility to reinvestment at a low cost. We will continuously monitor the market and propose adjustment through shareholder’s vote.
We made a strategic choice for deployment of mining hardware based on Cointerra's chip which has excellent specifications in terms of scalability, GH/mm2 and power consumption. This way we can anticipate future developments in the Bitcoin mining space.
August 24, 2013, 05:12:47 PM
Will you provide a live "hashmeter" ?
We will use our own mining pool (so no fees lost there) and the hashrate of the mine can be viewed live online.
August 24, 2013, 04:59:19 PM
So you wish to acquire $6.8+ million for this contract with cointerra?
No matter the facts you present and plans you speak of, this sum appears outrageous relative the prospectus.
However I have the ability to overlook things from time to time, what am I missing? And please, spare the $/gh outlook, this is BTCland. Far too many variables control this risk before I can see reasonable profit margins.
EDIT:
After reading your listing on BTCT.co you state the IPO is succesful if 30,000 shares at .65 are sold, yet in this thread you say the same amount sold are required but at an increased price point at .675. Which is it?
Furthermore, I saw nothing in PETA-MINE's details on btct informing of a specific percentage used to fund the reinvestment account. Not too mention, imho 35% seems a little high.
And the final whammy, with optimistic outlook, I've got to wait until December to start hashing?
No matter the facts you present and plans you speak of, this sum appears outrageous relative the prospectus.
However I have the ability to overlook things from time to time, what am I missing? And please, spare the $/gh outlook, this is BTCland. Far too many variables control this risk before I can see reasonable profit margins.
EDIT:
After reading your listing on BTCT.co you state the IPO is succesful if 30,000 shares at .65 are sold, yet in this thread you say the same amount sold are required but at an increased price point at .675. Which is it?
Furthermore, I saw nothing in PETA-MINE's details on btct informing of a specific percentage used to fund the reinvestment account. Not too mention, imho 35% seems a little high.
And the final whammy, with optimistic outlook, I've got to wait until December to start hashing?
August 24, 2013, 04:46:49 PM
Will you provide a live "hashmeter" ?
August 24, 2013, 03:39:06 PM
What's up with mining companies and releasing forcasts that nearly always under predict the rate of difficulty increase?
6% Difficulty increase in a month? Seriously?
6% Difficulty increase in a month? Seriously?
The difficulty increase is divided in stages:
- First stage is an increase of 65% up till december
- Second stage is an increase of 30%
- Third stage is an increase of 18%
- LAst stage is an increase of 6%
When you take 1 number to calculate the difficulty increase, for instance 30%, you would end up with impossible numbers.
(30% = difficulty of 4,749,627,852,593)
August 24, 2013, 03:17:58 PM
Best wishes CryptX for a successful IPO!
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