Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 19. (Read 565829 times)

Well, would it take 2 days to affect the revenues?

There is a delay between difficulty changing, and it affecting pooled mining revenue. Thats because blocks have to mature and because of PPLNS.

Something is worth whatever someone else is willing to pay for it,disregarding everything else;it was a one two punch of no P2P(which many people exclusively bought PETA for and therefore dumped when most recent update dropped)and the bitcoin drop which not only strangled dividends but also created a general sentiment of fear.Dividend today wasn't bad at all,thought this last difficulty increase was really gonna kill it

I dunno i feel like .135 is overpriced
I was thinking about picking up some up at .109 but it looks like i missed that day trade boat

I think more people sold out when the BTC price dropped not when they said no to p2pool

At least it looks like some of the fear is subsiding

Again, was there ever proof that investors didn't just pay 2x market value for Ghash mining power, after which point Cryptx just traded the assets in to payout ever-decreasing divs?  Could've been a shill from the start - at least scryptx mines on WeMineLTC, so that's transparent.

the prospectus is still pretty vague on whats going to happen

what do you think the hardware would be worth once they cant pay their power bill, thats alot of hardware to dump all at once
~1150 x used 1TH miners .6 BTC
0.00060000626 for the final div per share

share price right now = 1.20BTC/TH

yeah, unfortunately like a couple days after I started the investment fund, they sent out that status update basically saying they were not going to go to P2Pool or get new hardware in the near future, and ever since the share price has been plummeting and there has been a big shit-storm on reddit about them. Bad timing I guess, although at the same time also means that more shares can be bought from re-investment each day. Hoping things get sorted out with CryptX and dividends keep getting paid.

I saw that as well.  I've been making my voice heard over there on scrypt based thread letting everybody know what time it is with regards to CryptX and crew.  If I had to lay money I'm betting that it is indeed this option (14:1 issuance) that will end up coming to pass.  A whole lot easier for CryptX to keep track of the satoshi's he's robbing his investors out of if only having to manage a single asset.  CryptX is basically like one of those fat-cat central bankers at this point in my mind.  Could give a flying about what shareholders vote on.  Half-baked hardware purchasing decisions that he knew would go south the minute he paid for them.  Both of his asset's are a complete joke and I suspect by this point he's made so much money of of them that it doesn't really matter a cat's whisker to him that he's basically thrashed his reputation here.  Just my opinion though.

you spelt broker wrong

+1

What happens when you buy all the shares?  Reinvestment compounding is nice when prices are static or rising, but for depreciating assets...

Typical bitcointalk user response is typical. I could have bet money that one of the first responses on here would be somebody screaming "scamm!!!" honestly I cant blame you though.

For the record, I am essentially putting my reputation on the line for this (i.e, not going to run away with the money.. not much I can do it Peta/Cryptx itself crashes to nothing though). For what its worth, im the main admin and developer over at Lets Talk Bitcoin! and if somebody wants to find out who I am (im not actually anonymous) and where I live, they could do so with little effort (il even tell you if you ask).


Yep that is true. Your free to do the same thing on your own and skip the 2% fee. Its just another option for somebody that doesnt want to take the bit of time each day to manage it themselves, or prefers weekly payouts instead of every day.

Really, its more of an experiment in creating CounterParty based assets/tokens. Take it or leave it, figured I mise well make a post on here though.

This just compounds an investment in PETA - if PETA does poorly, this just does even more poorly (because of the 2% fee). There's no reason that anyone couldn't do this on their own.

Sounds like scam

If anyone misses the old daily 50% reinvestment strategy they were doing, I am offering a similar opportunity via a PetaMine investment fund, built using CounterParty (token name: PETAMINE). The gist of it is that money is pooled together to buy PetaMine shares from Havelock. Any money directly invested into the fund gets you PETAMINE tokens to your http://counterwallet.co wallet (which you can hold or trade on the decentralized asset exchange).  Every day 48% of the daily dividends received are directly reinvested into buying more shares, and 50% goes towards weekly payouts. Once a week (every saturday), total earned is paid out to any bitcoin addresses that hold PETAMINE tokens.

More info and official thread: http://letstalkbitcoin.com/forum/post/petaminexcp-mine-bitcoin-with-your-counterwallet

cheers

Talking talking we here and the price rises ;-)

He does. Unless he dumped them all since, he converted the loan in to 4650 peta shares (x14 after split).
But he seems to be trying to get rid of them. Check the Scryptx updates, he is offering scryptx shareholders peta shares rofl.

Exactly. I assume that cryptx will lower his fees, which is bound to be much higher than his costs. Dissolution and distributing the proceeds to shareholders does not benefit him since he doesn't hold any shares.  Whereas continuing mining means he continues to collect fees until the mining revenue reaches marginal costs.  So I doubt that there will be any value left in 1.1PH of obsolete assets at that point in time.

You assume that point is still far away; it could be upon us in october. And the sooner it happens, the better, ironically.

Ive been away for a while, but AFAICS, new mining hardware is still selling for ~$800/TH. Used hardware isnt going to fetch the same price, especially not when its cryptx selling  as he utterly blew his reputation on that. And in two months, prices will have come down further, but lets optimistically guestimate cryptx could still fetch $300/TH. Thats ~0.6BTC at todays low exchange rate. Or 0.00062BTC per unit. Hardly trivial considering the current market price which isnt even twice that.

Of course, two months from here, its entirely possible BTC value will have doubled, which would reduce the miner's BTC denominated value almost proportionally,  and prolong the current flow of money towards cryptx fees while market prices per TH continue to tumble. Moreover I suspect cryptx will lower his fees once mining revenue is almost equal to minng fees, as its far more economical for him to continue mining (read: collect fees) than sell the hardware and having to hand out the proceeds.

And lets not forget; I didnt only predict that PETA shares would drop dramatically in price, I also made another prediction; I dont have a time line for that, but sooner or later, cryptx will face regulatory issues, and the impact of that could be very severe. Possibly very positive for IPO investors  (think Activeminer), possibly disastrous for everyone.

Someone is bidding 47 BTC at 0.00081 per share.

Buy very cheap and expect the liquidation is perhaps the best solution to limit losses?