criptx, could you please elaborate on how are we going?
thanks
Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 234. (Read 565837 times)
That would be great in theory. Also, a nice boost in the value of the exchange would be nice! Anyone here anymore talk of BTC projections still being estimated in the 5 to 10 thousands by late July/august? (one can dream, but optimism is key in this market).
I have read a few articles stating that wall street is 4-6 months from getting in bitcoin in a big way. If this true and Wall street's big money starts jumping in with etfs and the like, we could see another huge spike.
My call is by this time next year we will have hit 10k but likely have settled back to 5k or so.
I have no math or #s to back this up, consider it an off the hip with a little gut prediction.
Aireun: Part of the overall picture of where BTC will be in relation to the USD hinges on how badly the fiat currency will be managed. Although calling for BTC $10,000usd would be "good" news for Bitcoiners, the question remains... What will the world look like if the reference coin of the world suffers a nervous breakdown. imho $10,000 seems a stretch for the year of the horse. Will you settle for 1btc=$2,014 at the end of the year?
i'll wager 0.001btc that it´ll be closer to $2,000 than to $10,000.
But that was off topic. i divested myself of peta at a small loss... it stresses me out having to wait for Godot.
i'll wager 0.001btc that it´ll be closer to $2,000 than to $10,000.
But that was off topic. i divested myself of peta at a small loss... it stresses me out having to wait for Godot.
That would be great in theory. Also, a nice boost in the value of the exchange would be nice! Anyone here anymore talk of BTC projections still being estimated in the 5 to 10 thousands by late July/august? (one can dream, but optimism is key in this market).
Ah perfect, Great explanation. So, technically speaking it is possible not only to keep up with the difficulty, but also exponentially grow over time with the 35% added from dividends each week. Especially in the case where the difficulty slows down at some point? Would I be correct in saying this?
Whether we keep up with difficulty all depends on what the increase is and what they are paying per GHS.In the short term I don't see us keeping nose to nose with difficulty, but as long they bring on enough at a low enough cost that we instead of lose the 20% we net -10% or so, I am ok with that, because the increases will level off eventually.
I think given the late start we should increase the reinvestment percentage, at least temporarily. Otherwise we are sitting on a dead duck.
I tend to agree with reinvestment % increase. Problem can be as where to get new hardware, all major manufacturers sold pre-orders up to May?They posted a few days ago that they are working on pcbs and with software engineers for implementation of bitmines A1 chip.
Why, from ASICMINER of course. delivery in Mar!
I think given the late start we should increase the reinvestment percentage, at least temporarily. Otherwise we are sitting on a dead duck.
I tend to agree with reinvestment % increase. Problem can be as where to get new hardware, all major manufacturers sold pre-orders up to May? 
Diff. increase 2,621,404,453
Even 2.8GH/share is going to be looking pretty bleak at 0.05/btc come a couple more of these. This is getting bad imho. Really starting to appear as though 35% reinvestment strategy is no longer going to cut it.
Even 2.8GH/share is going to be looking pretty bleak at 0.05/btc come a couple more of these. This is getting bad imho. Really starting to appear as though 35% reinvestment strategy is no longer going to cut it.
Hopefully the mid-Feb adjustment will just kick in and we will get 3.45 GH/s per share.
After we see what the weekly dividend is for a few weeks, if it consistently is dropping then we need to increase the reinvestment % till it is no longer dropping. If we do not do this then ultimately we will end up with dividends that are too small and the share value will drop to reflect this. I was big investor in the HMF fund and watched as lower dividends ultimately cause the price per share to slowly drop. The HMF price is now 1/10 of what it was at the peak last June.
An average dividend that is maintained consistently is better than an initially high dividend that whitles away to nothing.
Diff. increase 2,621,404,453
Even 2.8GH/share is going to be looking pretty bleak at 0.05/btc come a couple more of these. This is getting bad imho. Really starting to appear as though 35% reinvestment strategy is no longer going to cut it.
Even 2.8GH/share is going to be looking pretty bleak at 0.05/btc come a couple more of these. This is getting bad imho. Really starting to appear as though 35% reinvestment strategy is no longer going to cut it.
I think given the late start we should increase the reinvestment percentage, at least temporarily. Otherwise we are sitting on a dead duck.
Ah perfect, Great explanation. So, technically speaking it is possible not only to keep up with the difficulty, but also exponentially grow over time with the 35% added from dividends each week. Especially in the case where the difficulty slows down at some point? Would I be correct in saying this?
Thanks for your reply rdyoung.
And yes I do see the information on their website and on Havelock, however, I'm still stumped to understanding what exactly they mean by "everyone". Even you say and I quote "Its reinvested in hardware increasing the piece of pie for everyone." With regards to that in "literal sense" does that mean we see an increase in our gighash each week as a whole community? (i.e. if someone had 700 GH from 202 shares @ 3.45g/h they would notice an increase possibly to 701 g/H each week growing possibly by a few GH). Or is it a total increase to the quality of the pool size for further betterment and probability for solving blocks... or is it both?
Hope I make sense, im kinda new still lol
Thanks again mate.
And yes I do see the information on their website and on Havelock, however, I'm still stumped to understanding what exactly they mean by "everyone". Even you say and I quote "Its reinvested in hardware increasing the piece of pie for everyone." With regards to that in "literal sense" does that mean we see an increase in our gighash each week as a whole community? (i.e. if someone had 700 GH from 202 shares @ 3.45g/h they would notice an increase possibly to 701 g/H each week growing possibly by a few GH). Or is it a total increase to the quality of the pool size for further betterment and probability for solving blocks... or is it both?
Hope I make sense, im kinda new still lol
Thanks again mate.
Alrighty, some quick math to help you see things.
Lets assume you have a 1000ghs miner of your own that you can add hashpower to as you can afford to.
For easy math lets say 1ghs is .01btc. We will leave USD/eur/etc out of this for ease of comprehension
At current difficulty 1th would net you about .2292btc/day.
If your doing what petamine is you would take 65% of that and put in your pocket, then take the remaining 35% IE .08022btc and purchase 8ghs with it, giving you now 1008ghs to mine with. The next day you now earn .2311btc, rinse and repeat.
Of course for the sake of simplicity I am not accounting for difficulty increases, or the fact that they will be doing this weekly.
It doesn't matter if its for the individual or the group its the same thing in this regard, we will all earn based on the # of shares we have purchased.
I don't know how we will know what our individual hashrate is unless they post regular updates as to the current speed of the mine, you can see if your hashrate has gone by your dividends going up or not.
Thanks for your reply rdyoung.
And yes I do see the information on their website and on Havelock, however, I'm still stumped to understanding what exactly they mean by "everyone". Even you say and I quote "Its reinvested in hardware increasing the piece of pie for everyone." With regards to that in "literal sense" does that mean we see an increase in our gighash each week as a whole community? (i.e. if someone had 700 GH from 202 shares @ 3.45g/h they would notice an increase possibly to 701 g/H each week growing possibly by a few GH). Or is it a total increase to the quality of the pool size for further betterment and probability for solving blocks... or is it both?
Hope I make sense, im kinda new still lol
Thanks again mate.
And yes I do see the information on their website and on Havelock, however, I'm still stumped to understanding what exactly they mean by "everyone". Even you say and I quote "Its reinvested in hardware increasing the piece of pie for everyone." With regards to that in "literal sense" does that mean we see an increase in our gighash each week as a whole community? (i.e. if someone had 700 GH from 202 shares @ 3.45g/h they would notice an increase possibly to 701 g/H each week growing possibly by a few GH). Or is it a total increase to the quality of the pool size for further betterment and probability for solving blocks... or is it both?
Hope I make sense, im kinda new still lol
Thanks again mate.
this percentage is the percentage deducted from mining revenue before dividend is payed out. The BTC will be used to buy new hardware. I am not known with the procedure, so i can't help you on that.
Thanks for your reply rdyoung.
And yes I do see the information on their website and on Havelock, however, I'm still stumped to understanding what exactly they mean by "everyone". Even you say and I quote "Its reinvested in hardware increasing the piece of pie for everyone." With regards to that in "literal sense" does that mean we see an increase in our gighash each week as a whole community? (i.e. if someone had 700 GH from 202 shares @ 3.45g/h they would notice an increase possibly to 701 g/H each week growing possibly by a few GH). Or is it a total increase to the quality of the pool size for further betterment and probability for solving blocks... or is it both?
Hope I make sense, im kinda new still lol
Thanks again mate.
And yes I do see the information on their website and on Havelock, however, I'm still stumped to understanding what exactly they mean by "everyone". Even you say and I quote "Its reinvested in hardware increasing the piece of pie for everyone." With regards to that in "literal sense" does that mean we see an increase in our gighash each week as a whole community? (i.e. if someone had 700 GH from 202 shares @ 3.45g/h they would notice an increase possibly to 701 g/H each week growing possibly by a few GH). Or is it a total increase to the quality of the pool size for further betterment and probability for solving blocks... or is it both?
Hope I make sense, im kinda new still lol
Thanks again mate.
Can someone explain exactly what the 35% is being used for? For example is it 35% more hashing power to the pool size... or 35% of hashing power added to your own personal piece of the pie. I have roughly 200 shares, but I am afraid of the difficulty destroying my profit over time if hypothetically speaking the exchange price for btc does not rise.
Anyone knowledgeable on this side of things?
Its reinvested in hardware increasing the piece of pie for everyone. This information is available on petamines website as well on the listing at havelock.Anyone knowledgeable on this side of things?
For some time we will see the returns slow even with the 35% reinvest, however the difficulty increases will slow at some point.
Can someone explain exactly what the 35% is being used for? For example is it 35% more hashing power to the pool size... or 35% of hashing power added to your own personal piece of the pie. I have roughly 200 shares, but I am afraid of the difficulty destroying my profit over time if hypothetically speaking the exchange price for btc does not rise.
Anyone knowledgeable on this side of things?
Anyone knowledgeable on this side of things?
OK. After half a year of waiting, and more than a month overdue now, we all want to see some progress.
CryptX could communicate more often, but I can understand that all details of his deals maybe can not be disclosed.
Glad to see they are focusing on developing and producing own mining boards for chips. I think this can greatly help when reinvesting.
CryptX could communicate more often, but I can understand that all details of his deals maybe can not be disclosed.
Glad to see they are focusing on developing and producing own mining boards for chips. I think this can greatly help when reinvesting.
That's the point.
We have several years of mining ahead of us. Probably, it's going to be very competitive business and the ability to implement reinvestment strategy (35% of net income in Peta case) on time is going to be crucial for long term success.
Personally, I hope CryptX will be able to fulfill IPO contract because in this case Peta Mine should be very profitable for all of us. Fulfill the contract means both to increase hash power by 20% for each month of delay and to implement reinvestment strategy ASAP after deployment. One can really not exaggerate on importance of second condition - reinvestment must be FAST.
Of course I hope they manage to negotiate to receive as much hardware as possible because of delays.
But if they use it for 'deployment' or 'reinvestment' purposes? According to the contract they are free to use it for both.
OK. After half a year of waiting, and more than a month overdue now, we all want to see some progress.
CryptX could communicate more often, but I can understand that all details of his deals maybe can not be disclosed.
Glad to see they are focusing on developing and producing own mining boards for chips. I think this can greatly help when reinvesting.
CryptX could communicate more often, but I can understand that all details of his deals maybe can not be disclosed.
Glad to see they are focusing on developing and producing own mining boards for chips. I think this can greatly help when reinvesting.
No need at attacking me here...My understanding of that new Cointerra offer (100% upgrade) is that this upgrade will be delivered after batch #3, that can be in April, as things are progressing at cointerra.
My opinion was (is) that 20% upgrade NOW is still good.
sorry not trying to attack personally here. yes you are right with this assumption
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