[HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 124.

webbrowser

full member

Activity: 215

Merit: 100

@cryptx, your prospectus indicates that reinvestment will continue, and the loan will be repaid from dividends. If the prospectus is badly worded, and the intention was for the 'loan' to be repaid from dividends + reinvestment, things do look a bit better.

Still, the mine hashrate would not be growing during this time, and my projection suggest that the dividends through end-2014 would be unattractive (to me).

If you sell 25000 units (2425BTC), you ask for 350 repaid. If you sell 17500 units (1681BTC), you ask for 685 repaid. If you sell 10000 units (950BTC) you ask for 1009 repaid. If the IPO does not sell at all, how much will the loan be?

Why don't you forgo the IPO, and just take 1424 BTC of repayment from the reinvestments instead, and continue paying out dividends throughout? (I still have no idea how you came up with 1009 BTC figure)

To those wishing for 0.0015 dividends to continue until the loan is repaid, this is how it might look like with a 1000btc loan to be repaid from reinvestments.

Or, for the 0.0015 dividends to continue thereafter... I stopped after Sep cos this chart is too painful.

As cryptx said, the spreadsheet is there. Plug in your own figures and see if the mine can be saved.

Diegogp

newbie

Activity: 6

Merit: 0

Quote from: stompysteve on May 19, 2014, 10:10:08 AM

Quote from: cryptx on May 19, 2014, 10:06:41 AM

Quote from: michaelGedi on May 19, 2014, 10:01:57 AM

Quote

The money that is raised at the IPO will go to the purchase of 1000 TH/s of mining equipment, which costs about 3,760 BTC. Financial breakdown to deploy 1PH/s:

   Cost: 3,760 BTC
   Income:

   * 33,794 shares at IPO: 3,313 BTC
   * Current reinvestment funds: 150 BTC
   * Mining revenue (16-31 May): 300 BTC

cryptx, please could you clarify (NB - this is not an accusation):

Where are the funds from the cancelled bitmain contract? Do they have any relationship to the shares you have aquired? If no, why are they not included in this calculation?

New situation:

We have cut the hosting fee from 0.45$/kwh to 0.25$/kwh. In other words we gave up a large portion of our income to the PetaMine project. We could have left it at 0.45$ and receive a lot more hosting for the coming months. Instead we want the project to thrive and become one of the larger players in the Bitcoin mining place.
We bought back about 14,500 shares with the money we otherwise had to spend on Bitmine for our second part of the contract. We did this because we are convinced that we could use these shares to take the PetaMine to another level.

+1
I wasnt upset with what was going down before though, everyone else is just pissed because they sold to early to get some scryptx trying to be a speculator or day trader

+1 As simple as that...people is pissed off because of day trading. People who is holding for a long term sees that like really good news, and know that people is making FUD and we all know who they are. Since the beginning we've been watching a lot of speculation here, and people who write in this forum only looking for their speculation movements. Stop people, don´t let them get the attention they want, info is there, and is very good...

michaelGedi

sr. member

Activity: 364

Merit: 250

"to be or not to be, that is the bitcoin"

Quote from: currencydebt on May 19, 2014, 10:26:21 AM

It took 20 or so minutes to sell the first 10,000 batch of IPO shares of Scrypt-X, it has taken 20 or so minutes to sell the first 20 shares of the PETA IPO

good that you noticed that... well done and thanks for sharing Cheesy

BiteMyShinyMetalAss

hero member

Activity: 617

Merit: 509

Crypto Card - https://platinum.crypto.com/r/28cz7d

Quote from: NotLambchop on May 19, 2014, 10:04:09 AM

@stompysteve; BiteMyShinyMetalAss: I'm sorry, i thought I was interrupting a rape. But this is ...consensual?

Yes, its consensual. The SP price doubled since last IPO and for people not wanting to participate its a briliant oppurtunity to exit. Its more like,
such speculators lost an oppurtunity by jumping into scrypt... Like Mikemike, who said:"Oh, i am selling PETA for short time, and getting into SCRYPT and when then SCRYPT price goes up, i will sell it and come back and be cool!"

currencydebt

newbie

Activity: 63

Merit: 0

It took 20 or so minutes to sell the first 10,000 batch of IPO shares of Scrypt-X, it has taken 20 or so minutes to sell the first 20 shares of the PETA IPO

michaelGedi

sr. member

Activity: 364

Merit: 250

"to be or not to be, that is the bitcoin"

Quote from: NotLambchop on May 19, 2014, 10:16:31 AM

Quote from: cryptx on May 19, 2014, 10:13:29 AM

Quote from: NotLambchop on May 19, 2014, 10:11:00 AM

Quote from: cryptx on May 19, 2014, 10:06:41 AM

...
We have cut the hosting fee from 0.45$/kwh to 0.25$/kwh. In other words we gave up a large portion of our income to the PetaMine project...

Since you are keeping 90% of the mined coin for "reinvestment," how does this make any difference?

Revenue of mining - hosting = BTC to spend for dividend and/or reinvestment

Lolno. 90% of (mining-hosting) = "reinvestment." 10% of (mining-hosting) = divs.

"Reinvestment" = buying teh gear from yourselves. <==sweet!

you're always such a joker...

one round of building miners = forever buying gear from themselves?? where is that fact made clear??

in the same vein (looking at mike's rants) 1-6% (needs to be proven but I'll take it at that for now) of electricity sold to peta = funneling money to solar power company... don't forget that the costs of running the solar power company have not been factored into certain calculations, just for extra fun/fud...

I appreciate your humourous negative sentiment lambchops, but if you're going to counter argue, at least do it right.

Foebar

full member

Activity: 156

Merit: 100

I really hope that Peta V3.0 will succeed, but I understand both camps.

We will see what the future brings.

NotLambchop

sr. member

Activity: 378

Merit: 254

Quote from: cryptx on May 19, 2014, 10:13:29 AM

Quote from: NotLambchop on May 19, 2014, 10:11:00 AM

Quote from: cryptx on May 19, 2014, 10:06:41 AM

...
We have cut the hosting fee from 0.45$/kwh to 0.25$/kwh. In other words we gave up a large portion of our income to the PetaMine project...

Since you are keeping 90% of the mined coin for "reinvestment," how does this make any difference?

Revenue of mining - hosting = BTC to spend for dividend and/or reinvestment

Lolno. 90% of (mining-hosting) = "reinvestment." 10% of (mining-hosting) = divs.

"Reinvestment" = buying teh gear from yourselves. <==sweet!

cryptx

sr. member

Activity: 350

Merit: 250

Quote from: NotLambchop on May 19, 2014, 10:11:00 AM

Quote from: cryptx on May 19, 2014, 10:06:41 AM

...
We have cut the hosting fee from 0.45$/kwh to 0.25$/kwh. In other words we gave up a large portion of our income to the PetaMine project...

Since you are keeping 90% of the mined coin for "reinvestment," how does this make any difference?

Revenue of mining - hosting = BTC to spend for dividend and/or reinvestment

NotLambchop

sr. member

Activity: 378

Merit: 254

Quote from: cryptx on May 19, 2014, 10:06:41 AM

...
We have cut the hosting fee from 0.45$/kwh to 0.25$/kwh. In other words we gave up a large portion of our income to the PetaMine project...

Since you are keeping 90% of the mined coin for "reinvestment," how does this make any difference?

stompysteve

hero member

Activity: 574

Merit: 500

Quote from: cryptx on May 19, 2014, 10:06:41 AM

Quote from: michaelGedi on May 19, 2014, 10:01:57 AM

Quote

The money that is raised at the IPO will go to the purchase of 1000 TH/s of mining equipment, which costs about 3,760 BTC. Financial breakdown to deploy 1PH/s:

   Cost: 3,760 BTC
   Income:

   * 33,794 shares at IPO: 3,313 BTC
   * Current reinvestment funds: 150 BTC
   * Mining revenue (16-31 May): 300 BTC

cryptx, please could you clarify (NB - this is not an accusation):

Where are the funds from the cancelled bitmain contract? Do they have any relationship to the shares you have aquired? If no, why are they not included in this calculation?

New situation:

We have cut the hosting fee from 0.45$/kwh to 0.25$/kwh. In other words we gave up a large portion of our income to the PetaMine project. We could have left it at 0.45$ and receive a lot more hosting for the coming months. Instead we want the project to thrive and become one of the larger players in the Bitcoin mining place.
We bought back about 14,500 shares with the money we otherwise had to spend on Bitmine for our second part of the contract. We did this because we are convinced that we could use these shares to take the PetaMine to another level.

+1
I wasnt upset with what was going down before though, everyone else is just pissed because they sold to early to get some scryptx trying to be a speculator or day trader

michaelGedi

sr. member

Activity: 364

Merit: 250

"to be or not to be, that is the bitcoin"

^ ah yes, thanks I thought I'd read something like that, sorry I missed when trawling posts...

cryptx

sr. member

Activity: 350

Merit: 250

Quote from: michaelGedi on May 19, 2014, 10:01:57 AM

Quote

The money that is raised at the IPO will go to the purchase of 1000 TH/s of mining equipment, which costs about 3,760 BTC. Financial breakdown to deploy 1PH/s:

   Cost: 3,760 BTC
   Income:

   * 33,794 shares at IPO: 3,313 BTC
   * Current reinvestment funds: 150 BTC
   * Mining revenue (16-31 May): 300 BTC

cryptx, please could you clarify (NB - this is not an accusation):

Where are the funds from the cancelled bitmain contract? Do they have any relationship to the shares you have aquired? If no, why are they not included in this calculation?

New situation:

We have cut the hosting fee from 0.45$/kwh to 0.25$/kwh. In other words we gave up a large portion of our income to the PetaMine project. We could have left it at 0.45$ and receive a lot more hosting for the coming months. Instead we want the project to thrive and become one of the larger players in the Bitcoin mining place.
We bought back about 14,500 shares with the money we otherwise had to spend on Bitmine for our second part of the contract. We did this because we are convinced that we could use these shares to take the PetaMine to another level.

NotLambchop

sr. member

Activity: 378

Merit: 254

@stompysteve; BiteMyShinyMetalAss: I'm sorry, i thought I was interrupting a rape. But this is ...consensual?

michaelGedi

sr. member

Activity: 364

Merit: 250

"to be or not to be, that is the bitcoin"

Quote

The money that is raised at the IPO will go to the purchase of 1000 TH/s of mining equipment, which costs about 3,760 BTC. Financial breakdown to deploy 1PH/s:

   Cost: 3,760 BTC
   Income:

   * 33,794 shares at IPO: 3,313 BTC
   * Current reinvestment funds: 150 BTC
   * Mining revenue (16-31 May): 300 BTC

cryptx, please could you clarify (NB - this is not an accusation):

Where are the funds from the cancelled bitmain contract? Do they have any relationship to the shares you have aquired? If no, why are they not included in this calculation?

BiteMyShinyMetalAss

hero member

Activity: 617

Merit: 509

Crypto Card - https://platinum.crypto.com/r/28cz7d

Quote from: stompysteve on May 19, 2014, 09:59:27 AM

alll aboard the FUD train!!!!

this forum gets pretty retarded sometimes Tongue

It really really does...

stompysteve

hero member

Activity: 574

Merit: 500

alll aboard the FUD train!!!!

this forum gets pretty retarded sometimes Tongue

NotLambchop

sr. member

Activity: 378

Merit: 254

Quote from: cryptx on May 19, 2014, 08:55:57 AM

Quote from: NotLambchop on May 19, 2014, 08:51:45 AM

Quote from: cryptx on May 19, 2014, 08:36:38 AM

Quote from: NotLambchop on May 19, 2014, 08:31:43 AM

@cryptx: Why are you deleting my replies?

We would appreciate everybody to read through the info at hand first.
After this something is still not clear, you can always ask us about it.

We cannot tolerate accusations based on misinformation.

Lol, "misinformation"? You mean like linear, 6PH/mo difficulty growth? Care to explain how you've arrived at that number?

We made a spreadsheet, so you can use this spreadsheet to enter all variables to your liking.
Variables: network hash rate, BTC rate, price for reinvestments.

Doing so, you can make your own conclusions.

BTW: it is not 6 PH/month, but 6PH each 10 days

Lolno.
You provide a completed spreadsheet, calculated, with all the variables given by yourself. Which begs the question, is Bx+6000 meant to read "lorem ipsum"? If not, how did you arrive at that number? And what lead you to believe that network speed was growing at a linear rate?

The hotlink in your prospectus is a bit misleading, if what you are offering just a template:

Since the formulae are not shown in googledocs' default view, how will the potential investor know that you've plugged in random numbers into random formulae?

EdoBcn

sr. member

Activity: 241

Merit: 250

paying dividends back in October 2013

Not this IPO. Not Havelock.
My first div was on March 1st. 0,00040211 per share.

michaelGedi

sr. member

Activity: 364

Merit: 250

"to be or not to be, that is the bitcoin"

Quote from: karol on May 19, 2014, 09:42:34 AM

Quote from: cryptx on May 19, 2014, 09:37:48 AM

Quote from: karol on May 19, 2014, 09:35:50 AM

Quote from: cryptx on May 19, 2014, 09:28:06 AM

Quote from: EdoBcn on May 19, 2014, 09:09:13 AM

So, you raised ~2.5 million from shareholders, added 1 million from your side, spend only 1% of your solar powerplant capacity, and then you want the shareholders to halt getting dividends? I don't think you need us for this operation. You could mine by your own... right? What am I missing here? The fees you collected until now are nothing compared to the magnitud of money you usually manage... is this a small distraction toy for you? Because for many of the shareholders it meant the difference between day and night. Not arguing here, just trying to understand why you need to get external funds for such an attractive and speculative business plan. Or why you need ADDITIONAL funds to increase operations.

Pffff I'm getting tired of defending even things like this. If we did not invest in this project, it would never be where it is today.

We have put a lot of effort, time and money in this, believe me. You can see where we are today, 46% in dividends paid + share price a lot above IPO.

Now we try to take all this to the next level, I mean this is the real deal. If you want to be part of something big, this is it.

If you just don’t like the way this came all together or where we want to aim for in the future, just don’t invest.

How are You counting this 46%?

Last Ipo was for 0.05, according to havelock and what I get after this IPO i recived 0,00883 divident per share so it is 17,6 %.

PetaMine started back in August 2013 and we have been mining and paying dividends back in October 2013.

Great that You are operating so long but it is very strange counting, I paid 0.05 so get 17.6 % -
You should listed all IPO with dividents not just saying that You paid 46% which is not true, You are teling about missunderstanding, wonder why?
Please give real informations with clear statments not what is good for You.

that is a clear statement. Since they began petamine, they paid 46%... (not that I have numbers to back this up).

just because you didn't know they started before you bought into the (2nd?) IPO, doesn't mean that it's not a clear statement. It's just not clear to you. It was clear to me...

that said, cryptx could have said, "we have paid 46% since we began our operations in Aug 2013"... yes, that would have been clearer.

Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 124. (Read 565833 times)