[HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 136.

Collider

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Quote from: E f f e c T on May 16, 2014, 11:23:10 AM

AHAAHHA. This is great. So you brought all those shares back, now your going to inflate the price, then resell them back on the market??

You couldn't write this shit..

In the meantime, you do this during the first week of SCRYPT, meaning anyone who moved money across to try out your other project is now at a loss?

Really?!!

Relax, next announcement will be further increase of GH/share.

Elvis Trout

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Quote from: E f f e c T on May 16, 2014, 11:23:10 AM

AHAAHHA. This is great. So you brought all those shares back, now your going to inflate the price, then resell them back on the market??

You couldn't write this shit..

In the meantime, you do this during the first week of SCRYPT, meaning anyone who moved money across to try out your other project is now at a loss?

Really?!!

I expect the person they bought the shares from was doing so in order to buy up scryptx ipo, plenty of big holders were liquidating in order to participate in the ipo. Divs have yet to be announced for scryptx and I'm sure the share price will go up once it's announced so they may end up even. But I agree it does seem rather ridiculous.

E f f e c T

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AHAAHHA. This is great. So you brought all those shares back, now your going to inflate the price, then resell them back on the market??

You couldn't write this shit..

In the meantime, you do this during the first week of SCRYPT, meaning anyone who moved money across to try out your other project is now at a loss?

Really?!!

cryptx

sr. member

Activity: 350

Merit: 250

Info about dividend payout for this week:

200.08284084 BTC in total from mining and converted NMC's:
- 99.72051321as Dividend (0.00150424 BTC / share)
- 53.69566096 Reinvestment
- 46.66666667 Hosting Fee

More info to follow!

Elvis Trout

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Here we go, from havelock

Current And Upcoming Public Offerings:

PETA-MINE CryptX (PETA)

2014-05-16 2014-05-19 11:00:00 2014-05-31 11:00:00 10000 10000 10000 ฿0.0950

Collider

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Bigger orders mean more volume discount, so everyone should be happy about it

Elvis Trout

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Quote from: SamboNZ on May 16, 2014, 10:51:49 AM

Quote from: webbrowser on May 16, 2014, 10:46:56 AM

I don't see why it would be in cryptx's interest to buy back ~14000 shares from the market and destroy them. Where did that money come from?

Speculating, was the bitmine contract paid for with shares, and the risk of further delays removed by cancelling the contract and recovering the shares?

We don't know exactly why yet, but I expect the next announcement will clear that up. However, CryptX did say that the move opened up some new opportunities, so I it sounds like good news to me!

Sounds like one way or another the money came from the reserves sitting waiting to be invested in more hash power.

It will be so that they can hold an IPO, however I don't know why they needed more shares to do that when they already have unsold shares they can use for the IPO. They must be planning a big sale, perhaps they got such a kick out of the scryptx IPO they want to do another one. Perhaps selling overpriced mining rights to share holders is more lucrative than simply hosting Tongue

Just kidding I'm sure they have their reasons, but some more transparency would be good so that people like me don't jump to unkind conclusions.

Collider

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announced dividend

Quote

0.00150424

pedrog

legendary

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Quote from: DropDead.Be on May 14, 2014, 03:49:00 AM

Haha yes, i ment 0.001252. My bad.
195 (BTC mined) x 81.3/217 x 0.56 (44% lower $/kWh) => 40 BTC for hosting
155 BTC (remaining) x 0.65 / 80470 = 0.001252 Cheesy

I'll use your numbers and just make a little change:

155 BTC (remaining) x 0.65 / 66206 = 0,001521

twentyseventy

legendary

Activity: 1386

Merit: 1000

Quote from: webbrowser on May 16, 2014, 10:46:56 AM

I don't see why it would be in cryptx's interest to buy back ~14000 shares from the market and destroy them. Where did that money come from?

Speculating, was the bitmine contract paid for with shares, and the risk of further delays removed by cancelling the contract and recovering the shares?

This is a very important question. If the performed the share buy-back with funds meant to be put towards mining then the shareholders paid for it one way or another.

SamboNZ

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Activity: 1064

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Quote from: webbrowser on May 16, 2014, 10:46:56 AM

I don't see why it would be in cryptx's interest to buy back ~14000 shares from the market and destroy them. Where did that money come from?

Speculating, was the bitmine contract paid for with shares, and the risk of further delays removed by cancelling the contract and recovering the shares?

We don't know exactly why yet, but I expect the next announcement will clear that up. However, CryptX did say that the move opened up some new opportunities, so I it sounds like good news to me!

Sounds like one way or another the money came from the reserves sitting waiting to be invested in more hash power.

Elvis Trout

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Activity: 116

Merit: 10

Share price is rising fast, shame divs are late though.

webbrowser

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I don't see why it would be in cryptx's interest to buy back ~14000 shares from the market and destroy them. Where did that money come from?

Speculating, was the bitmine contract paid for with shares, and the risk of further delays removed by cancelling the contract and recovering the shares?

SamboNZ

sr. member

Activity: 1064

Merit: 253

Quote from: altoidmintz on May 16, 2014, 10:32:15 AM

Quote from: Collider on May 16, 2014, 10:11:32 AM

Technically, only reducing the GH/share would be deception.

GH/share is determined by total hash/total shares. To change the number of total shares fundamentally and necessarily changes the GH/share.

Correct, they have bought back ~14000 shares, however there has been no decrease in total hash rate, thus increasing the current hash rate per remaining share.

Not sure where you're seeing a deception here TBH...

altoidmintz

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After Economics: Learning is just the first step.

Quote from: Collider on May 16, 2014, 10:11:32 AM

Technically, only reducing the GH/share would be deception.

False.

GH/share is determined by total hash/total shares. To change the number of total shares fundamentally and necessarily changes the GH/share.

To change the number of total shares without permission of the shareholders is a clear violation of shareholder trust. The ONLY justification, and even it is not a very good one, would be that the action was taken on an immediate basis for the express benefit of the shareholders.

An "increase" from 8.6 to 7 GH/s does not fit such a justification. In fact, it constitutes a double-offense because it is a REDUCTION in hash power.

There will be an increase from 8.6 to an excess of 10 GH/s owed as per this action, or else it is a deceptive practice.

Collider

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Technically, only reducing the GH/share would be deception.

altoidmintz

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After Economics: Learning is just the first step.

Quote from: Foebar on May 16, 2014, 09:07:28 AM

??

New IPO ?

We haven't reached the target goal of 8.68 per share , now we get an increase by eliminating shares.
I'm having a hard time getting the whole picture here.

I know that there have been delays but the initial 8.68 GH/s per share should be a higher number with the current reinvestments.

So I hope the statement that will follow will clear things up a bit

We are owed ABOVE 8.68.

With the share redistribution leading from an actual 6 to an actual 7.55, this implies a 26% increase from share redistribution.

Share redistribution of OWED hash (not actual hash) would therefore imply an OWED hash of 8.68*1.26 = 10.94 GH/s PER SHARE!

I have been previously very happy with CryptX's work, even in the face of uncontrollable setbacks, but if he tries to say that each investor is ENTITLED AND OWED even so much as .1 GH/s less than 10.94 GH/s I will be forced to sell my sizable number of shares.

Setbacks I can understand. Deception will not be tolerated.

Collider

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Quote from: Elvis Trout on May 16, 2014, 09:41:59 AM

Quote from: Collider on May 16, 2014, 09:37:35 AM

The way i read it, cryptx bought some units back, thereby (atleast temporarily) "destroying" the shares, giving everyone 20% more hashrate per unit instantly.

However, some kind of new IPO is planned to receive even more funding for a big production run, which should benefit everyone.
(as they still have the right to ipo shares until 100k shares is reached, but increasing hashrate appropriatly)

Well they do have that right, but we also have the right to 8.68gh/s per share which we don't have.

Hashrate will probably be increased to a higher hashrate per unit aswell as a higher total hashrate, giving us even bigger volume discounts / lower production cost.

IPOing new shares will not dilute the hashrate per share as previously stated by cryptx.

Elvis Trout

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Quote from: Collider on May 16, 2014, 09:37:35 AM

The way i read it, cryptx bought some units back, thereby (atleast temporarily) "destroying" the shares, giving everyone 20% more hashrate per unit instantly.

However, some kind of new IPO is planned to receive even more funding for a big production run, which should benefit everyone.
(as they still have the right to ipo shares until 100k shares is reached, but increasing hashrate appropriatly)

Well they do have that right, but we also have the right to 8.68gh/s per share which we don't have.

Collider

hero member

Activity: 714

Merit: 500

The way i read it, cryptx bought some units back, thereby (atleast temporarily) "destroying" the shares, giving everyone 20% more hashrate per unit instantly.

However, some kind of new IPO is planned to receive even more funding for a big production run, which should benefit everyone.
(as they still have the right to ipo shares until 100k shares is reached, but increasing hashrate appropriatly)

Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 136. (Read 565833 times)