Havelock is down as usual, but judging by the blockchain it would seem yet another of my predictions has come true : a lowering of his fees. I'm guessing .10 or. 12.
https://blockchain.info/address/1PETAmNrgdzx3FwzJPNuhx18JVKdGtwWt6
So no liquidation, enjoy your peanuts
Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 10. (Read 565630 times)
So, if we were to liquidate all of the assets, we would have 862.5 btc roughly, which divided over 1,149,988 shares, would be .00075 btc per share.
Yeah why make it easy calculating with BTC/1GH since each unit represents 1GH
You make a few assumptions though; first of all, that the hardware can be sold. Since cryptx uses Bitfury hosted mining, its not clear to me who really owns the hardware at this point. EVen if cryptx owns the hardware, its very likely the contract with bitfury runs for a predetermined time, most likely 12 months if not more. Keep in mind bitftury built their datacenter to essentially serve two customers (DigitalBTC and cryptx). Who is going to pay the next 6 months (edit: or 11 months, since the datacenter apparently came online in august!) ?
Lastly there is the matter of incentive. Cryptx is making as much on petamine today as it was in the beginning. Its still reaping in $0.15/GH/month. He has no incentive to sell the hardware. He may lower hosting fees if and when needed to maintain the illusion of shareholder returns, since he is hosted in Georgia with rock bottom electricity prices (*), Im sure he has enough leeway there on his $0.15.
(*) http://www.georgiapower.com/pricing/files/rates-and-schedules/large-business/5.10_PLH-9.pdf
0.5679¢ per kWh or $0.0057 per KwH !!
we know they are screwing us on power along time digital btc press releases on their site say they used bitfury hostedmining and made millions american dollars of profits quickly they brek even. In Georgia bitfury pays even less than this for their power they use their own generator 10 or 20 megwatt and oil tanks, i read story say their datacentre more efficient than googles .
bitfury show us picture of their warehourse and hardware in belgium . we payed for both piece of minignn equipment before and after it move. If this is just borrow hardware without owning i would never invest, they cannot make illegal statement like this
so today i am seeking advice from legal proffessionals if cryptx will not offer hardware to rightful owner
So, if we were to liquidate all of the assets, we would have 862.5 btc roughly, which divided over 1,149,988 shares, would be .00075 btc per share.
Yeah why make it easy calculating with BTC/1GH since each unit represents 1GH
You make a few assumptions though; first of all, that the hardware can be sold. Since cryptx uses Bitfury hosted mining, its not clear to me who really owns the hardware at this point. EVen if cryptx owns the hardware, its very likely the contract with bitfury runs for a predetermined time, most likely 12 months if not more. Keep in mind bitftury built their datacenter to essentially serve two customers (DigitalBTC and cryptx). Who is going to pay the next 6 months (edit: or 11 months, since the datacenter apparently came online in august!) ?
Lastly there is the matter of incentive. Cryptx is making as much on petamine today as it was in the beginning. Its still reaping in $0.15/GH/month. He has no incentive to sell the hardware. He may lower hosting fees if and when needed to maintain the illusion of shareholder returns, since he is hosted in Georgia with rock bottom electricity prices (*), Im sure he has enough leeway there on his $0.15.
(*) http://www.georgiapower.com/pricing/files/rates-and-schedules/large-business/5.10_PLH-9.pdf
Next course of action is to determine whether the units were ever purchased as claimed with investors funds or leased, amounting to intentional deception by the operators. BitFury has been issued with questions .
Whoever you may be, you do seem to have a point here. Right from Bitfury's website:
CryptX and DigitalBTC are among our clients which use BitFury’s hosted mining services
Or in Berts own words:
Professional hosted mining operations are the future of this market. CryptX operates in this space and has chosen BitFury’s hosted mining services for its project, PetaMine. We have worked together with BitFury on several occasions and we are very pleased with this business relationship.
BERT VALKENBORGS
CryptX CEO
http://www.bitfury.org/
Might be a bit of a problem to sell those miners. And so much for cryptx claim of buying and running its own datacenter in Belgium.
Nice fail cryptx!
My current thoughts on the project...
At this point dividends are negligible and mean nothing, anything paid in divs is just a bonus to the cost of the assets owned by the fund. Therefor, the only thing left that has any value in PETA are the assets, which are capable of mining at 1150 TH/s.
So, currently the AsicMiner Prisma is selling at 1.47 btc for 1.4 TH/s of hashrate in CanaryInTheMines Group Buy thread.
Obviously we won't get the same price as our power efficiency is worse, but I don't think it is out of reason to expect to get .75 btc per TH/s of power at this point.
So, if we were to liquidate all of the assets, we would have 862.5 btc roughly, which divided over 1,149,988 shares, would be .00075 btc per share.
Of course that assumes that all of the assets can be sold for that amount and can be sold quickly. I suppose that is the gamble right now, if we do decide to liquidate, there could be dividends of about double the current price assuming Cryptx decides to listen to investors and sell the equipment. If they don't, they will continue to mine to nothing (except Cryptx's pocket) and we will be left with worthless equipment.
The time is now the liquidate the fund and sell off the assets.
At this point dividends are negligible and mean nothing, anything paid in divs is just a bonus to the cost of the assets owned by the fund. Therefor, the only thing left that has any value in PETA are the assets, which are capable of mining at 1150 TH/s.
So, currently the AsicMiner Prisma is selling at 1.47 btc for 1.4 TH/s of hashrate in CanaryInTheMines Group Buy thread.
Obviously we won't get the same price as our power efficiency is worse, but I don't think it is out of reason to expect to get .75 btc per TH/s of power at this point.
So, if we were to liquidate all of the assets, we would have 862.5 btc roughly, which divided over 1,149,988 shares, would be .00075 btc per share.
Of course that assumes that all of the assets can be sold for that amount and can be sold quickly. I suppose that is the gamble right now, if we do decide to liquidate, there could be dividends of about double the current price assuming Cryptx decides to listen to investors and sell the equipment. If they don't, they will continue to mine to nothing (except Cryptx's pocket) and we will be left with worthless equipment.
The time is now the liquidate the fund and sell off the assets.
hi i am originally invest when peta miners made the announcement on reddit about switch to p2pool and decide to make the switch here from cex .
i read this detail in the prospectus
Quote
The hardware will be deployed immediately after the IPO. Unit holders are
entitled to 15 GH/s per unit and are also owners of the hardware of the mine.
On top of this, our new hardware only consumes
0.785 Watt/GH, which is the best performance on the market
Unit holders are
entitled to 15 GH/s per unit and are also owners of the hardware of the min
Unique Bitcoin mining features come together in one project:
o You start mining immediately
o You have no contractual obligations
o You benefit from the most competitive unit price per GH on the market
o You are an owner of the hardware
o You benefit from our large purchasing power
o You choose your timeframe
o You pay zero management or pool fees
o You benefit from partnerships with the biggest chip manufacturers
entitled to 15 GH/s per unit and are also owners of the hardware of the mine.
On top of this, our new hardware only consumes
0.785 Watt/GH, which is the best performance on the market
Unit holders are
entitled to 15 GH/s per unit and are also owners of the hardware of the min
Unique Bitcoin mining features come together in one project:
o You start mining immediately
o You have no contractual obligations
o You benefit from the most competitive unit price per GH on the market
o You are an owner of the hardware
o You benefit from our large purchasing power
o You choose your timeframe
o You pay zero management or pool fees
o You benefit from partnerships with the biggest chip manufacturers
our money in IPO fund are use to buy hardware. cryptx take our money second time for loan to buy miners and paid him back by convert shares we own this hardware this is the condition of investing
This is why i invest here because we own the hardware. this binding condition can no be changed.
but now cryptx is scaming us. price is to 0,0004 or lower today and will only fall. cryptx ignore the owner and continue to suck profit. long enough cryptx have sucked profit
havelock come to speak and say this profit is relate to difficulty, everybody know this and there is no surprise here- cryprx cannot control diffiuclty but he can control the condition of the agreement. we OWN this hardware this is theft many time you have been contact asking to return our hardware.
llook asicminer prisma = 1,47 bitcoins. Here is same efficient roughly, the value here is 1 bitcoins minimum can be easily sold, i know already many buyer and also there are those who will act as reseller. div is 0,001 this way .
cryptx i will drive to your mine and pickup MY hardware in europe anywhere . is no problem for me. you ignore all my message
i pay 2 btc who can start legal action or share documents of cryptx owner- addres, picture? ?
if someone want to pool together for legal action we can start from friday i am ready
if they dont sell this they are criminals. everything is on record. they will be like this man
http://insidebitcoins.com/news/trendon-shavers-bitcoin-ponzi-schemer-charged-40-million-fine/24716
$40 million american dollar fine for scamming user of bitcoin because he not hide, same as cryptx not hide
SELL THE HARDWARE OR GIVE OUR HARDWARE BACK TO THEIR OWNER- WHO IS THE SHAREHOLDERS
THEN WE CAN SELL THIS
My current thoughts on the project...
At this point dividends are negligible and mean nothing, anything paid in divs is just a bonus to the cost of the assets owned by the fund. Therefor, the only thing left that has any value in PETA are the assets, which are capable of mining at 1150 TH/s.
So, currently the AsicMiner Prisma is selling at 1.47 btc for 1.4 TH/s of hashrate in CanaryInTheMines Group Buy thread.
Obviously we won't get the same price as our power efficiency is worse, but I don't think it is out of reason to expect to get .75 btc per TH/s of power at this point.
So, if we were to liquidate all of the assets, we would have 862.5 btc roughly, which divided over 1,149,988 shares, would be .00075 btc per share.
Of course that assumes that all of the assets can be sold for that amount and can be sold quickly. I suppose that is the gamble right now, if we do decide to liquidate, there could be dividends of about double the current price assuming Cryptx decides to listen to investors and sell the equipment. If they don't, they will continue to mine to nothing (except Cryptx's pocket) and we will be left with worthless equipment.
The time is now the liquidate the fund and sell off the assets.
At this point dividends are negligible and mean nothing, anything paid in divs is just a bonus to the cost of the assets owned by the fund. Therefor, the only thing left that has any value in PETA are the assets, which are capable of mining at 1150 TH/s.
So, currently the AsicMiner Prisma is selling at 1.47 btc for 1.4 TH/s of hashrate in CanaryInTheMines Group Buy thread.
Obviously we won't get the same price as our power efficiency is worse, but I don't think it is out of reason to expect to get .75 btc per TH/s of power at this point.
So, if we were to liquidate all of the assets, we would have 862.5 btc roughly, which divided over 1,149,988 shares, would be .00075 btc per share.
Of course that assumes that all of the assets can be sold for that amount and can be sold quickly. I suppose that is the gamble right now, if we do decide to liquidate, there could be dividends of about double the current price assuming Cryptx decides to listen to investors and sell the equipment. If they don't, they will continue to mine to nothing (except Cryptx's pocket) and we will be left with worthless equipment.
The time is now the liquidate the fund and sell off the assets.
I can only admit Puppet was right from the start. I humbly apologise for the past comments Puppet! I guess I wanted this venture to work (for once) and got carried away... again please accept my apology!
Clearly Cryptx for the past few weeks did not have the best interest of shareholders at heart. If indeed getting 100% div. made sense for a week or 2 shareholders got mislead on the intention of Cryptx to keep it at 100% for ever... It might have not made a huge difference but selling hardware + keeping some div. could have save us a lot of BTC
Clearly Cryptx for the past few weeks did not have the best interest of shareholders at heart. If indeed getting 100% div. made sense for a week or 2 shareholders got mislead on the intention of Cryptx to keep it at 100% for ever... It might have not made a huge difference but selling hardware + keeping some div. could have save us a lot of BTC
lmao. Nice one Puppet. Guess I should've read the beginning a little more carefully regarding the 1BTC/share, that would've given it away had I paid attention the first time around.
*I wouldn't doubt that CryptX's next announcement contains at least a few elements of Puppets spoof as well though.
*I wouldn't doubt that CryptX's next announcement contains at least a few elements of Puppets spoof as well though.
Quote
Dear unit holders,
Difficulty has increased a little more than we originally anticipated. Our IPO prospectus foresaw a difficulty of less than 2B by this time. In reality it is a little higher, at 17 times our projection. As a result, we have fallen a bit short of our initial 1BTC per share dividend goal for October. But if bitcoin exchange rate increases by a few orders of magnitude and difficulty declines dramatically over he next decade or two, our initial goal is still within reach.
To maintain the possibility of achieving this goal, PETA mine will continue running for as long as mining revenue exceeds our very low undisclosed hosting costs. But whenever the revenue falls below our publicly announced $0.15/GH/month, as happened yesterday and will happen more and more frequently in the future, PETA will generously lend unit holders the difference so that no negative dividends have to be collected. Actual dividends will only resume once this accumulated debt is repaid, which will be increasing unlikely to happen ever.
Looking further ahead, once mining revenue drops below our undisclosed hosting costs, we will auction off the hardware, and will deduct this sum from the outstanding loan, thereby reducing the debt unit holders owe to Peta.
PETA mine has come a long way, and together with Havelock, has been a leader in driving down prices per GH, from ~0.007 BTC per GH at IPO to 0.0003 0.00025 ฿0.00020 BTC today, an impressive 2300 2700 3000% decline in just a few months. We are proud of this achievement and look forward to continuing on this path and set new records along the way.
YHBT
Team CryptX
Difficulty has increased a little more than we originally anticipated. Our IPO prospectus foresaw a difficulty of less than 2B by this time. In reality it is a little higher, at 17 times our projection. As a result, we have fallen a bit short of our initial 1BTC per share dividend goal for October. But if bitcoin exchange rate increases by a few orders of magnitude and difficulty declines dramatically over he next decade or two, our initial goal is still within reach.
To maintain the possibility of achieving this goal, PETA mine will continue running for as long as mining revenue exceeds our very low undisclosed hosting costs. But whenever the revenue falls below our publicly announced $0.15/GH/month, as happened yesterday and will happen more and more frequently in the future, PETA will generously lend unit holders the difference so that no negative dividends have to be collected. Actual dividends will only resume once this accumulated debt is repaid, which will be increasing unlikely to happen ever.
Looking further ahead, once mining revenue drops below our undisclosed hosting costs, we will auction off the hardware, and will deduct this sum from the outstanding loan, thereby reducing the debt unit holders owe to Peta.
PETA mine has come a long way, and together with Havelock, has been a leader in driving down prices per GH, from ~0.007 BTC per GH at IPO to
YHBT
Team CryptX
The debt unit holders owe to Peta?!?! Did he really just say that! So glad I'm out of this cluster-buck.
This asset has been a complete sham for quite sometime. Buyer beware, petamine is likely to not be around much longer.
I believe that was a fake story put out by Puppet that he made to look like an actual announcement. Not real though.
Although probably not too far off what the actual announcement will be.
Quote
Dear unit holders,
Difficulty has increased a little more than we originally anticipated. Our IPO prospectus foresaw a difficulty of less than 2B by this time. In reality it is a little higher, at 17 times our projection. As a result, we have fallen a bit short of our initial 1BTC per share dividend goal for October. But if bitcoin exchange rate increases by a few orders of magnitude and difficulty declines dramatically over he next decade or two, our initial goal is still within reach.
To maintain the possibility of achieving this goal, PETA mine will continue running for as long as mining revenue exceeds our very low undisclosed hosting costs. But whenever the revenue falls below our publicly announced $0.15/GH/month, as happened yesterday and will happen more and more frequently in the future, PETA will generously lend unit holders the difference so that no negative dividends have to be collected. Actual dividends will only resume once this accumulated debt is repaid, which will be increasing unlikely to happen ever.
Looking further ahead, once mining revenue drops below our undisclosed hosting costs, we will auction off the hardware, and will deduct this sum from the outstanding loan, thereby reducing the debt unit holders owe to Peta.
PETA mine has come a long way, and together with Havelock, has been a leader in driving down prices per GH, from ~0.007 BTC per GH at IPO to 0.0003 0.00025 ฿0.00020 BTC today, an impressive 2300 2700 3000% decline in just a few months. We are proud of this achievement and look forward to continuing on this path and set new records along the way.
YHBT
Team CryptX
Difficulty has increased a little more than we originally anticipated. Our IPO prospectus foresaw a difficulty of less than 2B by this time. In reality it is a little higher, at 17 times our projection. As a result, we have fallen a bit short of our initial 1BTC per share dividend goal for October. But if bitcoin exchange rate increases by a few orders of magnitude and difficulty declines dramatically over he next decade or two, our initial goal is still within reach.
To maintain the possibility of achieving this goal, PETA mine will continue running for as long as mining revenue exceeds our very low undisclosed hosting costs. But whenever the revenue falls below our publicly announced $0.15/GH/month, as happened yesterday and will happen more and more frequently in the future, PETA will generously lend unit holders the difference so that no negative dividends have to be collected. Actual dividends will only resume once this accumulated debt is repaid, which will be increasing unlikely to happen ever.
Looking further ahead, once mining revenue drops below our undisclosed hosting costs, we will auction off the hardware, and will deduct this sum from the outstanding loan, thereby reducing the debt unit holders owe to Peta.
PETA mine has come a long way, and together with Havelock, has been a leader in driving down prices per GH, from ~0.007 BTC per GH at IPO to
YHBT
Team CryptX
The debt unit holders owe to Peta?!?! Did he really just say that! So glad I'm out of this cluster-buck.
This asset has been a complete sham for quite sometime. Buyer beware, petamine is likely to not be around much longer.
Partially correct. We represent an intermediary body that has been forwarded a number of REV requests in the past months. Filings are currently in an informal, prefatory stage pending communication by CRYPTX BVBA.
This smells like BS to me to be honest. Who would the fsma forward a file like this to ? Why wouldnt you just say who you represent? Why use FSMA in your handle if you are not working for them ?
Mind you, this come from a guy (me) who predicted a long time ago cryptx would get in hot water with the FSMA. I just dont believe "intermediary bodies" would make pseudonymous threats on this forum to achieve what appears to be a desire on your part to make crypx sell their hardware. If/when the FSMA gets involved I expect them to do their own investigation and do it silently to determine whether or not any rules have been breached, and if so, make that very public.
Tell me this, do you represent a belgian agency?
No one has contacted us in regards to the PETA Fund or has questioned our ability to offer the Funds on our site.
We all know that the risk with the PETA operation is directly associated with the price of BTC dropping over the past few months and the rate of the network rising.
We all know that the risk with the PETA operation is directly associated with the price of BTC dropping over the past few months and the rate of the network rising.
I hired a private detective to find that out. or maybe its all on their website:
http://www.cryptx.com/
CryptX bvba
Witte Paterstraat 4
1040 Etterbeek, Brussels
Belgium
http://www.cryptx.com/
CryptX bvba
Witte Paterstraat 4
1040 Etterbeek, Brussels
Belgium
cryptx is a belgian company
and btw, its illegal even for a panamese company to sell securities to belgian investors.
and btw, its illegal even for a panamese company to sell securities to belgian investors.
Ok. This makes a little more sense then. How do you know they are Belgian?
cryptx is a belgian company
and btw, its illegal even for a panamese company to sell securities to belgian investors (or for that matter, pretty much any investor in the industrialized world).
and btw, its illegal even for a panamese company to sell securities to belgian investors (or for that matter, pretty much any investor in the industrialized world).
Ok, correct me where I go wrong here, but isn't the FSMA a Belgian regulatory authority? What jurisdiction do they have over Havelock? Isn't Havelock registered in Panama?
The two former Poker players behind this outfit will be getting investigated within a week if I see no action taken. I have their information from high profile investors who have communicated with them at conferences.
Lets be clear here, are you saying you are/work for/represent the FSMA, or are you threatening cryptx to file a complaint with the FSMA ?
What is 'the FSMA'?
The two former Poker players behind this outfit will be getting investigated within a week if I see no action taken. I have their information from high profile investors who have communicated with them at conferences.
Lets be clear here, are you saying you are/work for/represent the FSMA, or are you threatening cryptx to file a complaint with the FSMA ?
Partially correct. We represent an intermediary body that has been forwarded a number of REV requests in the past months. Filings are currently in an informal, prefatory stage pending communication by CRYPTX BVBA.
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