Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 125. (Read 565833 times)

I agree. Pffff, I invested in this project as well and I contributed as well (marginally, I know, but sum all of us and you get the right number).

I got burned in the past by havelock on a different fund. I told myself, never more.
Then I got your IPO. The project seemed good. You had the experience. You had special deals with pre-orders. You had capacity to build boards.
It seemed pretty the right thing to invest in.

According to the first spreadshit, for how amazing and untrue (and shoking) it looked like, I thought it was still very much appealing. Investing in mining with BTC and get weekly dividends with BTC.
I started very low with only some spare funds I didn't had in cold storage. The first weeks... no hashing, delays, no div... and then it started. I took 25% out of cold storage and came in "big" (my big...). PETA started hashing even higher. Machines were placed online. I belived in this project so much that not only I was buying stock at each div payout, but also I took another 25% out of cold storage.

Bitcoin passionate friends were my first discussion opponents and some of them decided to invest as well.
I took 40% of my cold storage and invested that as well.

All was good. Buying shares weekly. Sometimes playing a little with the price fluctuation on havelock to sell high and buy cheap, increasing my share numbers.

Then Scryptx came out. While PETA was stuck for quite a silent time.
(It's amazing how you, Cryptx, were so silent here and how much you are writing now that you have the need of an additional IPO)

Scryptx potentiality is high. I decide to help the IPO by selling some shares of PETA and enter this other, at least initially.
The fee price on PETA is reduced now, Price goes up. Nice moment to sell PETA and buy more Scryptx IPO.

And then you announce the new IPO on PETA with a price well above market value.
And then you announce that you privately purchased shares from a whale who wanted out.
And then you suspend the dividends on PETA.

I sold the last PETA after this. Still have liquidity on Havelock.
Scryptx is exchanging below IPO.
PETA future has its detractors and numbers are spamming this forum.

I don't think I insulted you and if I did, I can apologize now, maybe.
But "Pfffff"... really? You want to manage my investment like this?
I do have a suggestion for you, hire a PR. A good one. Someone who doesn't reply "Pffff" to investors. Someone who has the time to reply to us. Someone who can eventually tell you that buying out a whale is not something that the other shareholders will take with pleasure.

If PETA will be successfull, I will be sad that I was not keeping my shares, and at the same time happy for you and the other shareholders.
But the chance of getting me back in and convincing me (with an amazing operation) to disinvest other funds on Nasdaq to buy more PETA, is gone.

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.

ok so this is a good example. A possible solution that will restore confidence... people like money coming in every week, especially ADD bitcoin guys

+1

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

So far people have most problem with "no dividends" in the next few weeks.
And that's the key to this ipo being success or not.
My opinion is that we keep 0.0015 dividends until debt is cleared.
Is that OK, Cryptx?

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 %.

don't get tired, don't lose professional outlook. Take the criticism and deal with it. Some of it is valid, some of it is not at all... it's quite simple in some ways. Just don't lose sight of the valid issues that get raised, despite the tone of the posts

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.

my bad. I got it wrong.
This is actually a good thing. Glad I mistaken myself.

I was just wondering if it was possible to write a list of problems that are raised, and then offer possible solutions to these.


In hand with that, why does it seem more often than not negative statements get made on this forum with no suggestion on how to rectify. e.g. instead of "you're doing it wrong", "try this". It's (more often than not), "no that's wrong", or "this is bullshit". I know this isn't the case all of the time, but it happens often...

Other times we seem to go round in circles with various arguments with absolutely no conclusion, just a bunch of stubborn guys throwing numbers at each other.



Anyways, I would be quite interested to see what mike's potential solutions to his problems are (beyond "effect" telling cryptx to pay mike off). e.g. he clearly doesn't like:

- the new IPO shareprice (too high, "artificial inflation")
- the proximity of the scryptx IPO to these new changes (affects trading)
- the projections (unrealistic, misleading)
- the changes occuring without any warning(debatable)/consultation/voting.
- cryptx trying to make money from their business

So, what are the solutions with these problems? (brainstorm)

- lower new IPO shareprice.
- delay IPO?
- corrections/offer alternatives
- more tranparency/more investor discussion... voting!
- only put shareholders first, have no vested interest whatsoever?

What about the other issues raised? There's more beyond just mike's opinion, and he's fast proving hard to listen to although it does seem this recent shitstorm started with him having a tantrum, (and with that a bunch of guys saying "I'm out" of their own accord anyway). These issues should be addressed in some way I feel. Confidence is key.


I know this is an internet forum n'all and it's full of computer guys. But why is everything always boiled down to binary opposites? Isn't it ok for something to be average instead of good or bad, fail or win?


Anyways, just some thoughts, take or leave (yes lambchops, from a guy who still tried to hope and believe™ in neobee, even after you pointed out the cold hard truth, no need to comment).

(some small edits)

how is anything going to sell on the IPO when you have walls like this
2014-05-16 17:00:37
   1672/1672   ฿0.09499900   ฿158.8383

"We have a 350,000 Watt solar facility at site, which is owned by another company of us. To give you all an idea what this means:
In Belgium a 350kW installation has a yearly revenue of about 300,000 Kwh. The PetaMine consumes about 500 kw or 1285 kw after IPO (500*1 + 1000*0.785), this means between 4,380,000kwh and 11,256,600kwh each year. This is without any growth!
So our own electricity is only between 6.8% and ?? 1,1% of all electricity needed. What do you think such an installation costs?"

I think you don't understand...the electricity produced from the 350k solar plant is only about 1-6% of all electricity used by the PetaMine.

When I think of the history of mining companies, and just general bitcoin companies on Havelock and other investment platforms...  IMO, PETA still rises to the top. There is no disagreement from me that some of the questioning going on here is warranted. I personally find it encouraging how much larger the CryptX group of companies is. I would like to see full transparency on the relationship between the companies to help solidify my investment and potentially invest more. I'm not against a group of companies double or triple dipping (PETA paying sister companies for power and chips), but I just want to better understand the process when it involves a publicly traded one (PETA). There's both positive and negative spin here.. so transparency displayed on peta-mine.co or cryptx.com will help clarify the facts and remove any spin. Overall, the infrastructure that the CryptX group of companies operates is extremely positive as long as we can eliminate the FUD and spin.

I find it exciting learning about how much infrastructure is in place and how much control Cryptx has over their own future.

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.

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

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

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.

@cryptx:  Why are you deleting my replies?

Please read all the information before posting such things.

"We can tell all of you that we have already invested over 1,000,000$ of our own private money into this project. This money has been spent on:

•   Datacenter: Electric installation, cooling, infrastructure, alarms, network, etc
•   Shipping costs: We have paid all the express shipping from US (Cointerra), from Switzerland (Bitmine), from China (Dragon miners, custom miners).
•   PSU: we have bought about 200 psu’s so the Coincraft desk could be delivered faster.
•   Custom miners: Apart from the chips, we have paid the full production of 250 miners.
•   Custom designs
•   Labor costs
•   Etc"

We have paid all the manufacturing costs of the units out of our own pockets: We paid for design, manufacturing and shipping about 300,000 USD

"We have a 350,000 Watt solar facility at site, which is owned by another company of us. To give you all an idea what this means:
In Belgium a 350kW installation has a yearly revenue of about 300,000 Kwh. The PetaMine consumes about 500 kw or 1285 kw after IPO (500*1 + 1000*0.785), this means between 4,380,000kwh and 11,256,600kwh each year. This is without any growth!
So our own electricity is only between 6.8% and ?? 1,1% of all electricity needed. What do you think such an installation costs?"