Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 130. (Read 565833 times)

15GH/s/share is guaranteed regardless of how many shares are sold during the ipo

NO, This is only true with bitmaintech who prices solely in BTC. Most everyone else prices their hardware in USD/GHS. USD/GHS will come down as moores law is still in effect for asic. IF/When the day comes that the suppliers of those making the chips will accept BTC then GHS can be priced solely in terms of GHS/BTC.

I was wondering if someone could clarify a couple things i'm still confused about? i have not been following PETA or CryptX and have only been lurking past couple days after Havelock announcement. I'm new to difficulty and mining as well so forgive questions if they are overly elementary.

After reading the recent update on havelock about the upcoming ipo offerings and reading back the last half dozen or so pages of this thread...i am confused still when dividends at 15/GH will start being paid back to investors?

forgive me if this was obvious somewhere and i simply missed it but so far i haven’t come across a concrete answer.

from the information iv'e come across on the chart posted a page or so back, it seems this happens after all ipo shares have been sold. at this point dividends to invest are zero and i assume start to be funnelled back to investors. what happens if they do not all sell and when is the final offering ending? whats the backup plan if not even a fraction of the final shares offered are sold?

and how do you guarantee any of this? you claim 25,000 bitcoin will be mined in a year but even a modest increase in difficulty to 15,000,000,000 which seems very likely in next couple months, you will be lucky to pull 18,000 BTC. what am i missing?

are investors guaranteed 15/GH dividends no matter what happens by a certain date? I'd like to invest a little bitcoin but so far some things not adding up for me.

thanks for any help answering these questions.

Gotcha.  In that case ...still no.  Hardware costs per GH are whatever the market will bear.  If BTC price goes up, the market will pay more for the chips.  The dollar cost of producing the chips may remain the same, though -- you're right.  Is Peta an ASIC manufacturer?

second point, $/GH in terms of cost for hardware, not profit per Gh

case in point, the added hashrate wont be linear either, it will keep up thanks to inverse trend of cost per Gh vs difficulty

Don't forget about selling all 18 of cogs cointerra machines for 50% off market rate before the surprise last dividend.

It's okay guys, MPalokaj is here. The same guy that let COG trade for two full days after paying their last dividend, allowing people to buy literally worthless shares on the market.

I'm addressing this here:

BTC mined with each GH/s *drops* at the same rate as difficulty rises.
(Dollars per GH/s) is a function of difficulty, not "second thing."
Not sure how this supports the case of linear projections.

I thought it was pretty clear. We are currently at approximately 78PHS network rate, for it to double we need another 78PHS of hardware to be manufactured built and brought online. That would give us 156PHS, then to double again, we need another 156PHS to bring us to 312PHS.
To keep up with the current growth rate, we need a lot more manufacturing capacity producing chips then we have now. We also need more power efficient chips.

wat

what some of you do not realize is that difficulty cannot continue its exponential trend, at every doubling  more hashrate has to be manufactured then there ever was before it, we will hit a limit
second thing is $/Gh is also on an exponential trend, so technically its ok to make linear projections, exponential projections are usually highly inaccurate.

i expect full well PETA will make the right decisions in the future when dealing with above average increases in difficulty, they can increase reinvestment's


also dont forget how much PETA is doing for you, dealing with mining hardware, timing buys right and findings the best deals is not easy on your own.
I have 10scryptMh/s of GPU

What this table tells me is you are at least 1957 BTC in the hole(not counting these next 2 weeks of you using dividends and reinvestment funds already used) after making this deal and you are putting it on the shareholders to pay back the company that CryptX got all the extra hashing power from. You are withholding our dividends until all of this 1957 BTC is paid back to the company. First off that is what the reinvestment is for, not dividends. "The 65/35 percentages are chosen after careful consideration of the current and the future market. The percentages can change if shareholders vote to change it." What is happening is 100% is going to paying debt until that debt is paid off, could also be classified as reinvestment if you want to ease your mind. This was never voted upon and shareholders should still receive the dividend payment throughout IPO and after that fails shareholders should still get dividends paid, the 35% reinvestment should be the only thing going to pay off the hardware.

 "All shares issued have voting power. CryptX will not change the direction or goal of the PETA-MINE without shareholder votes". This little detour to give up our dividends is a huge direction change that was never voted on, I sold out everything on this pump and will not be buying back in if CryptX thinks this is right to do to shareholders, who knows what else he'll change and what terms he'll completely ignore from the prospectus.

Best case scenario all shares are sold in IPO and shareholders only give up ~.003 per share in dividends. Worst case scenario no body buys these shares at IPO and it takes an additional 5 weeks(projection done with difficulty never changing) to pay back the company and that will be a total of 7 weeks no dividends. Most likely scenario 1 batch is sold and 1007 BTC will still be needed to pay the company back and your dividends will be withheld for an additional 2-3 weeks after IPO is over for a total of 4-5 weeks with no dividend payments.

Edit: The last paragraph predictions are based off of a non changing difficulty so even the worst case scenario is overly optimistic.

FUD is FUD but the issues are not being answered so FUD becomes a downtrend in price. Would love to remain a buy and hold type kind of individual in this project but i have to take some btc off the table for peace of mind. i'll come back --even if it means losing a margin- if mikemike's question's are answered. The other valid point is thatif you are managing over $1,000,000usd in OPM, updating a spreadsheet is mandatory.

+1

If they (CryptX) wont buy shares from ipo for the 1000btc then this ipo could fail.
Recent statements by CryptX are really starting to qualify as misleading.

mikemikemike,

Couldn't one argue that this business is about the deals done behind the scenes? Success is dependent around bulk orders and creating relationships between your mining business and suppliers. This large upcoming purchase reflects that, and is evidence of PETA continuing down that positive direction. 1000 btc is roughly $450,000 and that is buying 1000 TH (1 million GH). 1 million GH for $450,000 is $2.22 per GH.

My primary concern is the lack of transparency around how reinvestment btc is being saved and spent. That needs to be stepped up (maybe it is transparent and I've just missed it).

How much of the reinvestment fund so far is contributing to this large expansion?

One of the easiest tasks imaginable is creating a Google Doc spreadsheet showing weekly revenue, expenses, reinvestment, and dividends. This was started in the "Update" tab at Havelock for part of April. But hasn't been shown the past few weeks.

Why was this discontinued?

Can't knock you there. July boom should happen. The capital to reinvest will be allot lower by then though. And if the July boom does happen, expect hashrate increases in the 30%-40% ranges every 12 days as it has with the last bubble.

http://imgur.com/a/yy63S
https://bitcoinwisdom.com/bitcoin/difficulty

You would be allot better off though putting the money in an alt currency like litecoin or doge for this period, as their growth seems to go up exponentially when the bitcoin market is moving well.

Just my two cents. I'm about twenty dollars in for the day.

The only thing that will save this project is the supposed July boom. Quite a few people think it might happen in which case we'll be ok.

Forever? No. Of course not. There is a cut off point. But for the next year? Definitely.

A small example as I've been running AM's numbers, they are now one of the smaller manufacturers, they plan to release 10.9M chips onto the network in the next two months, with a total hashing power of 109PH, that's already over double the current network. That's just one manufacturer. Bitfury, Spoons, BFL, hashfast and another couple I can't remember right now off the top of my head are also working on their GEN 3 and GEN 4 chips which should be available within the coming weeks, maybe a month or two. If the hashrate isn't 6x what it is now in three months ill donate 5 BTC to Sean's Outpost. The growth that is coming over the next few months is going to out do any growth we have seen before

And yes, it's to make them look better than they are. These are the months when dividends will start being paid out, and these are the months where the hashrate is greatly underestimated. It's going to cut ROI down by 75% minimum, but they don't want to tell you that, because then who would invest? And if nobody invests, they can't afford to fill their data centre, and if they can't fill their data centre, they can't make money.

It's the same with the reinvestment percentage early on, you'd get a much better ROI as investors if you stuck it at 50/50, but the more machines they can bring online the more money they can funnel into their other company, so they are setting the reinvestment percentage high early on, which helps them achieve their goals but kills ROI in the long term.

And the IPO probably won't sell, even if it does the shareprice is going to come falling down when people realise they were much better off before this update.