5000$/TH ? Seems overpriced to me. Plus they're not new models, meaning that the power consumption is probably high.
With the current reinvestment fund you'll buy 5TH at most... not sure if it's a good idea.
Definitely overpriced. Ironically the current cost of buying 1TH by simply purchasing PETA shares is around $5000.
1000GH / 8.68 = 115.2 shares of PETA required to equal 1TH.
115.2 * 0.073 (Current price on Havelock per share) = 8.4 BTC to purchase 1TH of PETA.
8.4 * $610 (rate per BTC on Bitstamp) = $5124.00
Keep in mind that the PETA share price is already up 46% from the initial price that CryptX sold them for. If we base it on the IPO price per share of 0.05 then the cost per TH for PETA is only around $3500.00.
Any reinvestment in PETA needs to be for faster/better equipment. It seems that most trying to sell (old) mining equipment are greedily trying to get all the profit that such equipment would have generated until it had become obsolete. The party purchasing this equipment would get little more than their initial investment back.
How is this overpriced?
The spreadsheet cryptx released prices their cost per TH @ 4500. Yes, we aren't at the 700th starting line yet, but we will get there.
I am not sure you are up to speed on what/how cryptx/petamine is designed to operate.
At the moment there is no "better/faster" equipment than the 28nm chips they are buying from bitmine.
There is no reason to believe that bitmine is mining with equipment before selling it.
After the hardware that was ordered from bitmine/cointerra is deployed, going forward it will be custom equipment with the A1 chips from bitmine.
AFAIK KnC is the only one working on 20nm and they wont be ready for months. So we are "stuck" with 28 for the time being, it will be profitable for quite sometime. Looking further down the road, hopefully cryptx has or will reach out and align themselves with someone working on the next gens of chip design so that when that tech is ready it can be deployed as soon as chips are available.
I am up to date, what we need is an actual update about the bitmine fiasco, are they or not delivering PETA's hardware on time? as someone mentioned earlier, this is all time sensitive if we can't get hashing now while the difficulty is relatively lower than it will be in say 3 months when we get the 700 TH deployed that hashing power will never make ROI. So what needs to be done is to calculate, if the price difference between the "true" contract rate of mining hardware from Bitmine and other hardware available is close enough to make a profit now while we wait for them to deliver then why not do so?
IE ( price of available hardware at a good hash rate - price of contracted rate from bitmine) = small amount of money ($500?)
Can that hardware boost increase our hash to a level that will ROI on that hardware before the difficulty increases to such a level that all the hardware becomes obsolete?
based on the other contributors on Eligius pool, if we look at 1swrtyBsp9odruX65upeyubAVSAyggh78 take the difference between their daily BTC earning and hashing power difference which at this time is about 6 TH. if we bought 6 TH and could start hashing immediately (this is theoretical but i hope you get the point) we could be making about 0.72666091 more BTC per day. IF the difficulty had just changed, and we hashed at this rate for one difficulty change (12 days) we could make an extra 8.71993092 BTC which is the cost of about 1/6 of those miners. Its an arms race to squeeze the most BTC out of current difficulty period.
A couple of things.
First off you can't focus on ROI as you would if you purchased your own hardware. There is reinvestment to keep up and possibly get ahead of difficulty. We also have to account for reduction in $/GHs over time, not only does tech get less expensive to produce thanks to economies of scale, the ASIC producers have also been cutting prices with each difficulty increase.
Second, Why are you still assuming that the difficulty will keep rising at the current rate forever?
Even at 15% every 13 days or so, after a few years you would need a small star to power the hardware. Not to mention the logistics of producing and deploying that much hardware. Lets say when the network hits 100PHs it still is growing at 15%, That is 15PHs that has to be brought online, now we have 115PHs, now we need 17.25PHs to be brought online, and so on and so forth. Does this seem plausible?
Finally, because cryptx hasn't said anything about a delay in their custom hardware we have to assume its still on schedule, according to their timetable they posted we are about 2 weeks out from the first 250THs of custom hardware, Plus the first reinvestment hardware.
Week 13-15: 250 TH/s of custom hardware together with the first reinvestment units
And this from that same update.
We have engineered a standard unit with a hosting capacity of 500 TH/s, which can be installed fully operational in a matter of weeks. This enables us to expand at a very fast pace.
As for the bitmine hardware, all of their customers were affected, but according their news posts its now under control and they are working through the backlog, another couple of weeks and they expect to be back to par.
Petamine brought on 20 or so THs yesterday I believe, so YES, they are getting hardware from bitmine just not as fast as they expected.
