Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 212. (Read 565837 times)

There is a link between price and difficulty. If the price stays low enough for long enough some miners will either turn off their equipment or point it towards other coins. You also can not be 100% sure that all of the march/april/may/june orders will bet turned on immediately either, there is a likely chance that some will be sold because they are not as profitable as when the order was placed, and they might sit unused until they sell.

Indeed, look at the blocks mined by Eligius and you'll notice that the pool is probably never down.

It almost always means that just the stats page is down, not the pool itself. The stats pages have trouble pretty frequently, so there's generally no reason to worry.

Eligius seems to be down. Does anyone know if this means the pool is down (we aren't hashing), or just the web access to stats?

EDIT: Spoke too soon, it's back. But only because I said something, probably. 

From today's official statement by Giorgio Massarotto of Bitmine:

"Petamine units
As part of the deal that we had with Cryptx, given the big amount of the purchase, we have agreed to setup an additional dedicated production line that would be working in parallel to the existing ones and producing the units just for them. As soon as the PCB boards were hashing stable at our strict requirements, the production of both the commercial units (aka the ones sold on the website) and the petamine dedicated units started exactly at the same time. The fact that they reported them before anybody else is just due to the fact that they have been picking up their units in person and reported publicly just the day after having them in hands, while the other users that had their units shipped didn't yet report that fast on the forum, but some did a few days later. Petamine just as any other user have suffered delays and are being compensated for that."

Separate production line for our orders is really a good news.

https://bitcointalk.org/index.php?topic=486598.new#new

+1 for new thread (share price valuation/speculation)

+1


+1

As a lurker for the last year I think its important we create a separate thread. There is far to many people who think they know what they are talking about and are just posting complete BS. Lets alteast keep all that crap out of this thread. This thread should be used for shareholders to talk about the progess of CryptX, not for day-traders to try and manipulate the price.

I know that I'm a newbie and that number by my activity limits the value of my opinion on this forum, but I propose that a new thread be started for the valuation of share price.  It would keep this thread open to other discussions about the venture and it would also allow for less manipulation of the price.  People who want to invest in peta will come here looking for information and if there are pages and pages of biased shareholders arguing about the price it could discredit peta.

There are different places to talk about prices, mining, news, etc over on the bitcoin IRC; I'm suggesting we do the same and create a new place to talk about price speculation.

On that note, is there a moderator for this thread?  

Ppl already invested with pre-orders up to may-june (maybe july?). That pre-ordered hashing power will come online anyway.
By then, bitcoin price can... well, you know, can do anything 

Indeed, but on the other end, reinvestment is done by converting BTC into fiat, so it's not really a good news.

But I think (hope) CryptX has converted the third IPO's BTC into fiat weeks ago, when it was around 800$.

but if the price is low arent people less willing to invest in mining hardware?

there is no link between difficulty and price, difficulty goes high as miners add mining power, and this has no direct connection to the price of btc.

i'm not going to point out names but can people stop posting there half arsed attempts at valuing this venture?

spending ages writing up an opinion piece on the price while completely missing key points just makes you look stupid.

what will be consequence of the low bitcoin price for the difficulty? will it rise not as fast as normal?

Recently we have seen some posts trying to entice people to believe that the price of 0.12 is too high. Arguments being: not long ago you could buy it for 0.05 and every share represents just 5.64Ghs (and not 8.68) because reinvestment cuts your dividend.

Let's try to keep it simple:

Petamine is a mining venture. It's main purpose is to generate bitcoins and the ability to produce new bitcoins is going to be the ultimate driver of its value. So, when someone buys a share in PETA how much bitcoins will he receive in return?
Basically there are two possibilities  a) CryptX achieves its objectives or
                                                b) they don't.

In case b) we simply cannot answer the question. In this case share price will fluctuate based on changing expectations about the future - any range is possible.
In case a) the answer is actually quite simple and there were already pertinent posts made on this forum, e.g.
or
and

To summarize: in case a) we will mine at least 2% of all mined bitcoins ! - EDIT: and reasonably expect half of this paid out in dividends

Is it worth 0.12 per share today? Everyone should judge by himself.


 
   

So, with that formula and PE ratio mentioned before, these shares can worth something like BTC3,5478 to BTC15,3738, or at current PE ratio BTC4,6310616, correct?

we can use same logic to reach 500,000,000 TH/sec in December   - no


we have 35% less hashrate per share? *because* 35% goes towards buying more hardware, which in turns increases the GH/share?? yet somehow end up with 35% less..really? - again - no

a 'break-even' point measured in weeks is not something that will turn any one off, we are talking about an investment, autopilot hosted mining operation and the most attractive on the market

I certainly will not be wishing any luck to shareholders buying, I will be wishing to try and understand a seller at this moment because any quick gains they are making are short-signed compared to long term potential of the operation.

here is more realistic return per share, per year. This is in line with CryptX own goals.


where 1 = number of shares you have

obviously it is very, very simple calculation and can be +- some amount, but it is an achievable one nonetheless.

With this latest news I too think that Cryptx is doing a phenomenal job for investors in this fund. Thank you Cryptx for securing the extra hash power. This will ensure that those who bought at 0.05 will make a nice reward and should continue to do so through Cryptx's reinvestment strategy.


Newbies:

To those that are buying at today's highly inflated share prices (0.129) - Good Luck. By the end of May hash rate will be 4 X what it is today with all the new chips being shipped. Please refer to the chart in the link below, which is the actual hash rate increase in the network to date.

https://blockchain.info/charts/hash-rate?showDataPoints=false×pan=&show_header=true&daysAverageString=7&scale=0&address=

The values displayed are a 7 day moving average. By the end of May that chart means that payout values will be a quarter or less of what they would be today. The network at the end of May will be over 100,000 TH/sec. If hash rate continues to increase at the same rate, then at the end of August the network will be nearing 500,000 TH/sec. Please do your calculations and determine what a fair price for a share of PETA should be.


Here is another link in which you can estimate the payout of a given amount of hash power:

http://bitcoinwisdom.com/bitcoin/difficulty

Simply enter in the value in the GH/s box and it will tell you the amount you will get per week based on current difficulty. It indicates both BTC and $ based on the current exchange rate. Remember each share is worth 8.68 GH/s, but 35% is reinvested in new chips, so each share will actually provide 5.642 GH/s. Also keep in mind we are not at full hash power. If you plug 5.642 GH/s into the edit, you will see that at today's levels a single share will yield 0.006347 BTC per week in dividends. This result is consistent with the daily dividend (0.00080347 * 7 to make it weekly * 1.13 to account for the difference between the 2 miners IE (5.642/5.0)) that B.MINE currently pays for a theoretical 5 GH/s miner so we know the above calculator is accurate.

At current share prices (0.129), this gives a break even point of 20 weeks, assuming we would immediately be at full power and there would be no hash rate increase. Please keep in mind that in only 13 weeks the network will have a 4 X higher hash rate. At a share price of 0.05 the break even point would be only 8 weeks; much more achievable, although it will still end up taking longer than 8 weeks as hash power will have doubled in 8 weeks.

I want people to make informed decisions about what they are paying for a share of PETA and I believe the above tools and examples will help them do so. In my opinion I believe the current share price is vastly overpriced, and no I do not want to buy cheap shares, I simply want to see everyone benefit from the great mining project that CryptX has started. Again hats off to CryptX for getting us shareholders the deals that he did.