Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 230. (Read 565837 times)

Whoa, now we are talking

Woohoo, action!

Update:

We received our first 2 out of 30 TerraMiners today and are hashing at an average of about 1.6TH / system, a next batch is already under way and according to tracking will arrive on Tuesday. First miners from Bitmine will also arrive next week.

More info will follow soon.

edit: Link to Eligius stats page http://eligius.st/~wizkid057/newstats/userstats.php/1PETAmNrgdzx3FwzJPNuhx18JVKdGtwWt6

Criptx,we need some info...

wow. how can angel investors with close ties to manafacturer not receive order in december whilst end user january orders up and running??
it's shocking. there must be some explanation
waiting for cryptx due update.last news 10 days ago.  online now.

Aren't we December orders? Lol something tells me we have been shafted here. We should have been up and hashing already and now not with a measly gh extra but double our hashrate. This operation has turned into a joke. I think the most appealing thing to this operation from the beginning was the fact that we would be one of the first to receive these units and that we had a tight relationship with cointerra and bitmine. So how much longer do we have to hold onto our ankles?

Cointerra delivering january batch units in the USA!
Where are our miners? CryptX? Now will be the time for some posts.

I don't think we are demanding a CEO to constantly give us feedback on "no news".
I agree that once we start mining, an update a month will be enough (if everything goes smoothly).

However, we didn't purchase a physical object, we invested in a business case. It would be highly appreciated if once a week (at least!) we could make sure that:
- Cryptix is on top of things.
- Cryptix is getting feedback from the hardware producers (hardware testing)
- Cryptix is getting feedback from the hardware producers (shipping time, estimates)
- We get to have some estimates of delivery and starting of operations.

Since the IPO value seems the same since the beginning, the increased 20% on top of a 20% on top of specs, it is a mere number. We could have invested somewhere else and jump into Peta fund only when the mining was up&running. We demonstrated confidence and trust. We don't demand, we would like to get updates. Regularly.

Cryptix still has my trust. I'm sure he didn't run off with our bitcoins or that he didn't receive already the equipment and that he is mining for himself.
I believe he should give us back some of that trust by being transparent in what's going on.

You know, something simple like: Estimated delivery date is now end of Feb. We will get 20% on top of the 20% from January. I'm looking forward / hoping to start mining by the first week of March. Meaning we will see mining dividends to be paid by middle March. And (still him talking) if it doesn't happen by then, we will get X back... or whatever...

This is a high business operation. I hope that Cryptix doesn't really need to do a different job for living. He doesn't have units to manage right now. No software to keep debugging/checking. So, what is he up to? Tropical islands? 

Some funny math while we wait for updates:
Lets switch to thinking in $:
I bought shares back then in september, shares were for about $8.5/GHash,
got divs in october-november, about $3.5/share.
$8.5 - $3.5 = $5
Two more days and a share will represent 3.456 GHash
$5 / 3.456 GHash = $1.45/GHash

Back into BTC  :
 And I'm still 0.05 btc / share short!!

CryptX's expertise to manage the farm and ability to strike good deals for new hardware are essential.
Next several months should show how we really stand.

By the way I think an update could arrive around February 15.

yes, you are right. hopefully they are making final preperation steps in background


Schedule appears to be right on track. using own mining board assembly is potentially very important. good to see bitmine have taken this into acoconut.

3rd party manafacturer have squeezed 2x hashrate (demonstrated) out of Bitmine A1 chip compared to retail units shipped directly., this is game changing improvement in operation of this scale. especially for re-investment purpose.

Now is a very critical timing. CryptX should update the mining deployment progress more frequently. By contrast, when the mining is working smoothly, even no update for months, I believe no shareholders would have concerns.

so a couple more days and we see a 20% hashrate increase. lets see how long after that we actually start mining

Cointerra is already shipping and people are receiving devices, Bitmine just demonstrated their desk and they said they will start shipping in quantity this week, now all we need is an update from CryptX if they have any information about when they will get their hardware and an ETA about when the operation will start...

Mining has NOT started yet, therefore no dividends can be paid. They are waiting for hardware from cointerra and bitmine.

First off, they paid 7-8$/ghs for the first round of hardware because thats the best cost they could get at the time.
The hardware purchased with reinvested earnings will be much lower, likely around 4$/ghs and more than likely dropping over time.

Second, this is the problem with people investing in BTC mining, they expect to ROI in days or weeks.
There are very few businesses in the real world that ROI that quickly. If you purchase or start a restaurant or other business, your positive ROI time is measured in years, not days or weeks.

Keep in mind that they are reinvesting 35% of the revenue, so over time our GHS/btc/usd will rise.

Not accounting for the reinvestment hardware, nor the overhead costs, 8$/ghs at an average difficulty increase of 15% every 12 days will give a positive ROI in approximately 250 days. To calculate this I used 100ghs as a base and did the math on 65ghs, IE 65% of the revenue. I also used 750$ as the BTC/USD exchange rate.
Investing in mining has to be seen as a long term investment, if its not you will be sorely disappointed very quickly.

All true.
I am glad to see someone got my point.
With the advent of the net its a whole new world when it comes to investing.
Years ago I dabbled in the e-gold games thing, I knew what it was at the time, a risky adventure at best, but mostly a zero sum game.

BTC is different. Of course we have already seen many scammers come and go with more on the horizon.
I am not sure what kind of DD cryptostocks does, I don't think they do much. I do believe and please correct me if I am wrong that havelock does DD and vets each listing before its approved. Combine this with petas previous history of paying out a large sum in dividends when it was on crypto and you get IMO a company that is more likely legit than a scam.

I still agree with previous posts stating that there is no need for them to pop in and post "still no news" or "still awaiting delivery".
I would rather they focus on the work they have stated they are doing, IE pcbs and software for A1 deployment, readying the datacenter for expansion so its ready to go when the reinvestment hardware starts rolling in, rather than waiting until the hardware is on its way or there to start prepping.

I invested in peta when it hit havelock, of course this was after reading the forum here, their website, etc and deciding that even though they hadn't deployed yet it was worth investing in.

not cryptx. but they are owners of petamine operation, no shares are privately withheld

Just a little correction, shareholders are not the owners of the company here. Shares are for the profit of the petamine project.
Anyway, I agree that communication on Cryptx part needs improving, especially on questions like merged mining.

most company, small or large offer as minimum investor relations portal. btw I think to compare such a company with apple or walmart is disingenous but i get your point.  Prior to IPO any issuer is always more receptive to potential investors concerns. only after money is already in pocket do you start to see true nature and a more realistic picture when communication drops off. it's well documented behavior in bitcoinland

You have to remember, unless cryptx buy outstanding IPO wall shareholders ARE the majority owners of the company here. cryptx make their bread with their relationship with cointerra as angels themself, as well skimming extra $/gh markup from retail orders ( let alone bulk buys) from suppliers,  then passing to investors  as convenience charge for hosted operation. this is *on top* of charging a secondary maintenence fee. which is the real hosted convenience cost.

This is very much unlike AM who owns large portion of their own shares. and hence percentage ownership . Something as simple as shareholder meeting every so often, just like friedcat provide to boardseat owners is not really too much to ask I think. even small things like talk of merged mining or pointing percentage of hashrate to altcoin which can bring 2x return is not something that should be ignored because it's pouring money down the drain. there are multiple people who invest equivalent to hundreds of thousands of dollars into this venture, there is totally no reason anybody should be at a net loss of any sort at end of operation.

Cointerra hardware is in the wild. at least 5 confirmed owners hashing for more than 24 hours. Bitmine coming on strongly too, with cryptx mentioning local pickup  let's see what the latest developments here are, fingers crossed finally we can start something