Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 209. (Read 565837 times)

i think the better question is, is there anyone whos a regular in this thread who isn't already heavily invested? i think not many

I think the point being made is that people in this thread believe that is going to happen and yet they are not buying the shares now before the price goes up.

Myself I'm not too bothered about the share price. I'm not looking to sell any time soon, and if for some reason I really needed the btc my shares are more than double what I paid for them. I think the people worrying about the share price are people looking to sell, and that's fine too, just be patient, wait for all the gear to come online and the price will be very tasty for you

in bitcoinworld, only thing that would reassure ppl is new hashing hardware beeing put online daily. Ofc, with steady divs.

Only around 200 shares people are willing to buy on the Bid side. For something that is currently undervalued one would expect much more support on the Bid side as people try to get cheap shares. I believe if a healthy level of support was present on the Bid side, this would reassure investors and the price would go up.

yea - im will elvis on this one - i put all my funds for this kind of operation in at IPO - im seriously considering liquidating a few of my ventures over the next couple of weeks to put in some more money as im an honest believer that the shares are ridiculously underpriced

I would, but I already put all my money in at IPO, if I get my next student loan before the price jumps peta will be getting most of that too.

Same on the ask side - 1500 shares to be bought.

Noone expects price to go down. Second, to put a bid you have to have btc at havelock. I don't have any.

Hmmm. Now that you mention sell, there is a curious lack of depth on the Bid side of PETA on Havelock. Those claiming that shares are undervalued should have huge orders on the Bid side waiting to buy cheap shares. Put your money where your mouth is guys.

yea i think so - i saw it jump up to 75TH/s yesterday for a few minutes before jumping back down *fingers crossed*

and here comes the panic sell *sigh*

hopefully adding new hardware, worried me too when I saw it haha!

anyone noticed hashing as pretty much stopped? guessing they are changing some stuff over

And continue this at https://bitcointalksearch.org/topic/petamine-share-price-speculation-thread-486598
leaving this thread free of speculation.

I'll just leave this here to add to the discussion:

https://bitcointalksearch.org/topic/m.5025976


Much discussion around these numbers in the thread, I won't comment myself

I think we can all agree that hash rate will eventually level off at a certain point, based on the most efficient mining chip available at the time and what is considered to be an adequate return. Based on the charts in the links below, I think it would be foolish to think it will level off within the next 3 months as many new chips are being delivered to many customers.

http://mining.thegenesisblock.com/

https://blockchain.info/charts/hash-rate

It makes sense that eventually the increase has to return to a linear function as only so many mining chips can be produced in a week. I think we will hit 100,000 TH/sec sometime in May before the leveling off will occur.

We do have actual data that we can now use to predict the amount we should earn. Consider the following stats taken from the PETA page on Eligius:

Estimated Earnings:

Your approximate maximum potential earnings at the current network difficulty of 3,129,573,174.52 and maintaining your 3-hour average hash rate of 52.14 Th/s is 8.37829676 BTC per day.

To make things simple, currently the pool tells us PETA will mine 8 BTC per day at 50 TH/sec. This means at todays difficulty a 700 TH/sec mine would churn out 112 BTC a day or 1344 BTC every 12 days for that difficulty period. Based on the B.MINE shares, difficulty has been increasing 20% every difficulty period. This means that mining payout would be 0.83333 (reciprocal of 1.2) of what it was the prior 12 day period. This Friday's amount will only be around 64 BTC. This Friday is coincidentally when the next difficulty increase will occur.

Feb 28     64 BTC (1344 if we had been at full power (700 TH/sec) for the whole 12 day difficulty period)
Mar 12  1120 BTC
Mar 24    933 BTC
Apr 05    778 BTC
Apr 17    648 BTC
Apr 29    540 BTC
May 11   450 BTC
May 23   375 BTC
Jun  04   312 BTC

All the above numbers assume a 20% difficulty increase each period (12 days), and also each difficulty change will occur 12 days apart. Keep in mind that we will not be at full power till the end of May. The above numbers from Feb 28 till Jun 04 sum to 5220 BTC. Since we are not at full power till the end of May, I would say we will mine half of that which is 2610 BTC. Also accounting for reinvestment we would end up with 2610 * 0.65 = 1696.5 BTC for dividends. 1696.5 / 100,000 shares = 0.016965 BTC per share. If you bought a share at 0.05 you will have paid for roughly 1/3 of it by the beginning of June.

Since mine is fully deployed at the beginning of June, let's assume that the 35% reinvestment completely offsets any further increases in hash power (difficulty). This means PETA should be able to keep mining 312 BTC every 12 days (182 BTC a week) till the next block reward halving. This means that 118.3 BTC (182 * 0.65) should be available for dividends each week from June 4 afterwards; this is 0.001183 BTC per share. Based on an initial value of 0.05 this amounts to a dividend of 100% per year. I know CryptX also has hosting fees which I have not accounted for, so they will affect the above numbers.

Incidentally in Alberta, Canada I pay $0.08 per Kilowatt hour, so maybe consider moving the mine here. The whole province sits on top of coal deposits, so we can keep our coal power plants running cheaply for centuries to come.  

I used $0.1/kwh.  Can go lower, $0.05/kwh. Bitcoin only at $1'000'000 to support that. I'll still be good with my 1btc   (well, maybe better I buy 2 now 

And power used - 4'000 GW. What capacity are nuclear plants? 1GW? Ah, just 4'000 nuclear power plants for bitcoin network. No problem.

Oh, no, what wikianswers says - there are only 439 nuclear reactors in the world?

but wouldn't the whole mining industry collapse? it only will be profitable in countries with low electricity cost.

December ends with 11'500'000 TH. How much electricity is needed to run this? With chips at 28nm technology using ~1J/GH?

Bitcoin has to be at $8000 by then, just to cover electricity cost.(at $0.1 per kwh)

I don't need mining then, I'll go now and buy 1BTC, and I'm good. For life! (with constant 80% increase, bitcoin HAS to be over $2'000'000 in 2015, even with new chips 0.3J/GH)  

sure, next month 2,400 TH added per day, the next month 4,8000 TH per day, the month after 8,600 TH per day, the month after 17,200 per day, month after 34,400 per day, 64,800 , 128,600. everything can be totally exponential 

I stopped reading at

So, the network hashrate in April will grow for 50'000 TH.
 1'700 TH added per day?

December ends with 11'500'000 TH. How much electricity is needed to run this? With chips at 28nm technology using ~1J/GH?

Bitcoin has to be at $8000 by then, just to cover electricity cost.(at $0.1 per kwh)

I agree. Refer to my previous posts in this thread.

Based on my calculations, I believe we will hit 100,000 TH/s sometime in May. After that I am hoping that the increase will slow down a bit; at some point it mathematically has to or they will need to start building new nuclear power plants just to power Bitcoin hashing.  

I believe that Cryptx's initial share price was reasonable at 0.05. Obviously a share is worth somewhat more now that hashing has begun. However, those paying more than double need to do some serious calculations using the tools I mentioned in my previous posts.

CryptX will be reinvesting 35% of the dividends toward keeping up with difficulty increases. CryptX now has a proven track record of negotiating good deals with chip manufacturers and looking out for shareholders. I believe we are in good hands in those respects as CryptX seems to have the connections to the chips we need.

I guess those that are paying a high premium for shares believe that network difficultly will level off soon. I guess time will tell.