Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 183. (Read 565837 times)

ahahha, please tell me your not serious? you couldn't have just made a post stressing about the importance of basic math fundamentals in business logic and then claimed all we own is 50 units from bitmine. ahahahahaaa, btw, is that your bot that just got turned on?

If we could get any inforamation about PCBs, i would be so happy!

we added nearly 50 units in the last two weeks - im not as worried about the PCB's because we are beginning to ramp up delivery massively even with the current production issues - and all because CryptX didn't update us right now on the PCBs doesn't mean we are never going to see them, just maybe not in the next couple of weeks, or maybe he is waiting for exact news from the manufactures, who knows, lets not jump to conclusions so quickly

i still don't think this was a bad update, considering the huge ramp up in delivery, if there are still huge production issues, i believe we will see an even bigger increase in hashing over the next week or two as these production issues are sorted out. plus, the reinvestment strategy they have chosen with the new supplier appears to be a good one

im thinking were all still good - people are panicking too much about the lack of clarification on the PCBs IMO

Sadly I agree with him... Look at the reinvestment. 5 weeks of reinvestment money to buy 18 Th/s when the next difficulty increase will eat this reinvestment in less than 10 days. It is difficult but we have to face reality, and with the low BTC price it is not so bright...

The only real hope is the custom PCB, but cryptx gave no news on that side.

woooo king of the trolls is back

Yes, you are probably right about the LK Group, it seems legit. I did not expect anything and miners from China is not a problem for me. Actually Chinese manufacturers have kept their promises better than any others so far plus their prices are of course relativity cheap. It's because these products are always less or more just copies and many of the single parts are coming in anyway from China, so they can just wait until someone brings out completely working product and then use their very effective production lines to copying them, or just the best parts of them. Bitmine could ever have such capacities in Switzerland. But it's still worth to remember that there's also a lot of scammers on the market and losing some 100 BTC or more in this situation would be like a hard blow below the belt for this project at the moment... And that was my actual point.

Protracted btc price under 300$ seems to be rather a low probability event.
Though, at certain point, by being too greedy with regard to the hosting fee CryptX could prematurely wipe out shareholders value. Of course, this would also mean no reinvestment funds and no growth for CryptX's business in current model.

Personally, I see this additional risk as a price for 'comfortable' mining - I don't care for electricity, cooling, noise, hardware ... or hosting fee elsewhere. On the other hand, those who care for all these things could be more 'invincible' in case of really hard times for btc/usd exchange rate. Nothing is for free.

That drop to $500 happened two days ago, on rumors that Central Bank of China will 'ban' bitcoin.
That rumor is appearing every few weeks and bitcoin is 'under siege' from that from December.

well lets all hope btc rises because if it doesnt we can kiss our investment goodbye after paying $0.45/kw per week.

These lketc units do look pretty sweet though.  Looks like they're giving ole bitmain a run for their money!

The company with url lketc is legitimate, and will receive working devices via this manafacturer faster than with bitmine themself

That's great, I hope Cryptx buys more miners from China in the future. The Occident is not well adapted for mass-production of electronics.

Looks legit, these are aka dragon miners

see this thread : https://bitcointalksearch.org/topic/wwwlketccom-1th-dragon-miner-direct-order-3000-523634

What did you expect for reinvestments ?

Yea - we are currently relying solely on bitmine and a new unknown, negligible supplier - this is the first time I'm starting to really worry, I've invested far too much money in this to see it fall because of a poor third-party

Very frustrating times

On a side note, I still believe CryptX is doing a great job considering the circumstances

Thanks for the update! And I suppose that you guys have made some little background work about the LK Group Ltd. before you sent that 108 BTC to them, right? At least their website raises more questions than answers about the company itself...

Edit: there seems to be an another company too in China with exactly the same name but doing slightly bigger machines: http://www.lktechnology.com/?page=product

+1000, the lack of mention of custom board project is not a good thing imo

What about the custom boards? 

Latest developments

- Deployment:
So far, Bitmine systems are coming in slow. We will visit them next Monday to discuss ongoing issues and delays in manufacturing and delivery as daily production volume remains low and is of course directly impacting our project. We remain in day-to-day communication to follow up on progress and speed up things wherever we can (we purchased our own PSU’s for the desk model as Bitmine ran out and has a delay with their PSU manufacturer, do part of assembly ourselves, use the fasted available shipping, etc. )

- Reinvestment:
We have purchased 18 new 1TH systems from LK Group Ltd. for a total of 108 BTC (6 BTC / System). These systems are also based on the A1 chip and should be available by end of next week (April 4th).  More info can be found on their website http://www.lketc.com/engoods/show/252.aspx

- Mining Pool:
It is our opinion that our hashrate is still too small to go solo and set up our own mining pool. We will evaluate this further as we grow, but are of course not bound to Eligius. Besides stable revenue / frequent payouts it is also important that our hashrate remains transparent and can be easily monitored by unit holders.

Although things are not yet at full speed, we are glad to have crossed the 150TH mark this week and provide steady revenue. We will continue to work hard for the growth and success of the PETA-MINE and keep you updated on new developments.

0.00072585 (assuming NMC factored in)

*my guess

What did I tell u guys? Over 20% aside just for hosting fees. If btc keeps dropping, this is going to rip into some decent profits we could have. But nonetheless I'm happy if hardware comes online quicker now. Looking forward to this update