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Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 194. (Read 565837 times)

full member
Activity: 154
Merit: 100
All else equal (ha there's a broad statement) if cryptx reinvests a larger % than the difficulty rise, petamine will have a seat at the grownups table.  By having enough $ to be a lead investor/customer for each next generation round of ASICs petamine can stay ahead of all the others buying the same chips.

+2

That is some serious misquoting going on there...




Nay, it is you who is ignoring what others have posted.
They likely got the money for the PCBs the same place they got the money to pay for the deployment of an extra 500+ Terahashes of hardware. The havelock ipo happened when BTC/USD was a lot higher than the original ipo last year. My bet is that the funds came from that or, the folks behind cryptx have some deep pockets and decided to anty up to make up for the major delay in deployment, it helps us as well them because it puts us further ahead than we would have been.

They can't take money from the IPO. The contract states that the money is used for producing or deployment of hardware. Not the development of hardware. The word 'development' isn't even mentioned in the contract so i would assume that the development of hardware is an insignificant portion of petamine's expenses.

Quote
As for your attempted "question" about cryptx selling hardware to petamine at a markup thereby possibly hurting the petamine operation and profits. This is why I said that some people have no clue how a business is run. It is in their interest to get the most efficient and lowest priced hardware online so that the mine can get and stay ahead of difficulty.
Please explain how cryptx can make a profit on this operation unless A) they are shareholders themselves, B) overcharge hosting costs or C) overcharge hardware costs.
newbie
Activity: 42
Merit: 0
I assume the 15 + 20 desks have been set up. That's great !
What's next ? Can you give us an update cryptx ?
member
Activity: 66
Merit: 10
All else equal (ha there's a broad statement) if cryptx reinvests a larger % than the difficulty rise, petamine will have a seat at the grownups table.  By having enough $ to be a lead investor/customer for each next generation round of ASICs petamine can stay ahead of all the others buying the same chips.

+2

+3

+4

It's the supermarket effect, once a handful of players become dominent, suppliers are at their mercy.

I agree the reinvestment % can be changed. But not now, at least not until they start the reinvestment deployment. Need to see how efficiency CryptX uses these money. If they are able to bring us cheap hash rate, then increase the reinvestment part would be great! Otherwise, I prefer let the money come back to their shareholders. So, let the time tells.
sr. member
Activity: 350
Merit: 250
Details about todays dividend payout:

72.54245172 BTC in total from mining:
- 40.50846763 as Dividend (0.00050213 BTC / share)
- 21.81225180 Reinvestment (brings total to 57.68291570 BTC)
- 10.22173228 Hosting Fee
hero member
Activity: 574
Merit: 500
I see Cryptx is deleting my posts, because I challenged what the profit relationship is between Cryptx and Petamine project. If thats not a HUGE red flag I don't know what is!
hero member
Activity: 574
Merit: 500
All else equal (ha there's a broad statement) if cryptx reinvests a larger % than the difficulty rise, petamine will have a seat at the grownups table.  By having enough $ to be a lead investor/customer for each next generation round of ASICs petamine can stay ahead of all the others buying the same chips.

+2

+3

+4

It's the supermarket effect, once a handful of players become dominent, suppliers are at their mercy.
full member
Activity: 163
Merit: 100
I think 50/50 is very conservative for reinvestment, and since I believe in BTC long-term more so than short, I think >50 % reinvested would be wise, but I am on board with at least 50.
hero member
Activity: 574
Merit: 500
CryptX, any chance we can delay the dividend until we have the next payout from eligius? seems a little silly to crash the dividend at such an early stage just because of our place in the payout queue

Kind of begs the question as our hash rate goes up as to why we don't have our own pool?? Surely hash rate is high enough now to smooth out the luck factor enough.
hero member
Activity: 630
Merit: 500
Look at havelock.
Eligius stats not working right now.
CryptX didn't wait for Eligius to get out of fail-safe mode.
full member
Activity: 150
Merit: 100
Dividend paid  Smiley
0.00050213 btc/share

No, it was not ?!
Why are you announcing it?
Checked adress on eligius - waitimg for payment 29 im queue
On peta adress las transaction is 14 btc from miming
hero member
Activity: 630
Merit: 500
Dividend paid  Smiley
0.00050213 btc/share
full member
Activity: 172
Merit: 100
I also agree, we should reinvest a bit more (up to 50/50 imo).
Could cryptx set a vote or something ?

I would only agree if the hardware could be bought and delivered quickly by the supplier.
No need to increase the reinvest and lock that funding into hardware that can't be delivered to keep up with the pace.

+1
... and cost efficiently
full member
Activity: 150
Merit: 100
All else equal (ha there's a broad statement) if cryptx reinvests a larger % than the difficulty rise, petamine will have a seat at the grownups table.  By having enough $ to be a lead investor/customer for each next generation round of ASICs petamine can stay ahead of all the others buying the same chips.

+2

+3
full member
Activity: 180
Merit: 100
After Economics: Learning is just the first step.
All else equal (ha there's a broad statement) if cryptx reinvests a larger % than the difficulty rise, petamine will have a seat at the grownups table.  By having enough $ to be a lead investor/customer for each next generation round of ASICs petamine can stay ahead of all the others buying the same chips.

+2
full member
Activity: 202
Merit: 100
0.64% in 1 week

(Am I doing it wrong?)




AM yearly yield based on last div: 0.68%
PM weekly yield based on next div: 0.64%

only in bitcoinland  Grin

hashrate document with updates on deployment is nice, even better to have real time status. But you don't seem receptive to it. I do wonder about why hashrate goes down to 0 and up however, and also diff now is not 1919 but 2673?- these can make big difference to dividends

question for you
1) are board seats offered?


Hashrate = 0 because of technical problem + reorganisation
Difficulty = 267,730,000 (1919TH/s) until next change so mining income is calculated using current difficulty (1919)

1) We will look into this


Any update on board seats?

advantages are that large shareholders, and those bordering on owning enough shares would be encouraged to achieve/maintain a position, so for instance if you require 2500 shares to become a board-member, and 10 people are board members you have 25,000 shares which are further incentivized to remain static and holding long term rather than selling off. wouldn't necessarily have to be privy to any extra special info that normal shareholders are not, it's a title just as much as anything, similar to any company which offer investor relations portal, and of course they like to look after largest clients who hold big %'s
hero member
Activity: 630
Merit: 500
CryptX, any chance we can delay the dividend until we have the next payout from eligius? seems a little silly to crash the dividend at such an early stage just because of our place in the payout queue
They can pay out the dividend with mined btc, and delay the reinvestment part and hosting until next payout from eligius. I think they did that last week.

Eligius stats server had some trouble this week - someone hacked in and changed nmc mining address for all users.
sr. member
Activity: 241
Merit: 250
Dividend lotto time! Smiley Smiley Smiley

http://eligius.st/~wizkid057/newstats/userstats.php/1PETAmNrgdzx3FwzJPNuhx18JVKdGtwWt6
30.05142861 to be paid
+
https://blockchain.info/address/1PETAmNrgdzx3FwzJPNuhx18JVKdGtwWt6
40.54245172 already there

= 70.59388033 btc
Hosting + costs, I would estimate 7.5/8 btc

= 62.5btc * 65% = 40.625 net for dividends
/80674 shares = 0.000504 per share.

Current value on Havelock:
0.07890000 per share
0.64% in 1 week

(Am I doing it wrong?)


full member
Activity: 156
Merit: 100
I also agree, we should reinvest a bit more (up to 50/50 imo).
Could cryptx set a vote or something ?

I would only agree if the hardware could be bought and delivered quickly by the supplier.
No need to increase the reinvest and lock that funding into hardware that can't be delivered to keep up with the pace.
copper member
Activity: 224
Merit: 100
CryptX, any chance we can delay the dividend until we have the next payout from eligius? seems a little silly to crash the dividend at such an early stage just because of our place in the payout queue

Well, it does not change much if we got more next week.

i agree, but i would rather a more even distribution of dividends over the first few weeks until we are really pumping the BTC out. but yeah, this isn't anything i feel strongly about, i just think decreasing dividends this early will scare off the less knowledgeable investors
newbie
Activity: 42
Merit: 0
CryptX, any chance we can delay the dividend until we have the next payout from eligius? seems a little silly to crash the dividend at such an early stage just because of our place in the payout queue

Well, it does not change much if we got more next week.
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