[HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 235.

ujka

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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.

Anotheranonlol

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Quote from: ujka on February 04, 2014, 04:11:18 AM

Quote from: MonkeyBear68 on February 03, 2014, 06:15:33 PM

...
Cryptx did not address the questions about the second free mining rig for first batch Cointerra orders so I guess that does not apply. Sad

CryptX did address that question about a month ago (Jan, 4th), https://bitcointalksearch.org/topic/m.4299711
I think that offer was for retail customers, CryptX bought large number of miners and probably got some other offer back then.

About underperforming Terraminers, 1.6th/s instead of 2.0th/s, maybe CryptX can 'press' on Cointerra to deliver that same number of th/s (60), with a dozen of miners more.

is this what you call addressing the question? this is not addressing anything. It's same as when somebody ask if you turned it off and on again when you call to ask for support. it's what is referred to as 'fob off' easy way out, not answering the question properly.

what sort of useful info is this? really.. compensation terms update for an order you had paid hundreds of thousands of dollars for of investors money, and you'll just sit back and say, meh.. didn't hear anything about it yet..and leave it at that? this has big repercussions on success of this project, it's not a joke thing (bear in mind cryptx have vested interest in success of cointerra as well as this operation)

that was the time to go and make contact and come back with the correct info to shareholders, put in some serious effort and show some concern to future of your business

I had receive that news. Another early investor of cointerra I spoke with he had said he get updates regularly. These are earliest investors of cointerra how can you beleive they won't get updated?

ujka

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Quote from: MonkeyBear68 on February 03, 2014, 06:15:33 PM

...
Cryptx did not address the questions about the second free mining rig for first batch Cointerra orders so I guess that does not apply. Sad

CryptX did address that question about a month ago (Jan, 4th), https://bitcointalksearch.org/topic/m.4299711
I think that offer was for retail customers, CryptX bought large number of miners and probably got some other offer back then.

About underperforming Terraminers, 1.6th/s instead of 2.0th/s, maybe CryptX can 'press' on Cointerra to deliver that same number of th/s (60), with a dozen of miners more.

nwfella

legendary

Activity: 1610

Merit: 1000

Well hello there!

Share price not too surprising imho given last update. Hope to see things start improving with this security soon, starting to look a bit grayish.

Anotheranonlol

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Quote from: spartan82 on February 04, 2014, 12:44:22 AM

Sell offs have been happening already, we are currently 20% below IPO. Im just about ready to get out myself, but not for such a low price. Its very unfortunate but I think the real lack of communication has just pushed everyone away

It seems a little strange time to sell really at such a low price, unless you had desperately needed the btc. as we are getting closer to deployment, yet shareprice is low as it has been in a long time

I had never beleive in Cointerra but luckily switch to Bitmine for bulk of initial hashrate and they are coming on quite strongly. The real important things will come during re-investment where there is flexibility (e.g as cryptx said to use own chips and custom PCB. If cryptx give serious effort into deployment it will be good, first stage with bitfury was handled nicely. there are also some other manafacturers who will do good deal on bulk that are not so efficient but will still see a positive ROI)

It is not good when issuers go into near radio silence after taking money when they are very chatty during collection phase, or those that tend to treat the investors in a not equal way giving them only - vague robotic updates, same way a customer service rep might give you standard copy paste response, 'we understand your concern.bla bla'. but still cryptx has IPO outstanding so it is in their interest to not let this deflate and it will succeed or die depend on them

spartan82

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Sell offs have been happening already, we are currently 20% below IPO. Im just about ready to get out myself, but not for such a low price. Its very unfortunate but I think the real lack of communication has just pushed everyone away

Anotheranonlol

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Quote from: Morguk on February 03, 2014, 03:07:33 PM

"All customers who ordered the first batch of TerraMiner IV units, scheduled to ship in December, will now receive a second rig, free of charge." via http://www.coindesk.com/cointerra-performance-issues-security-breach/

So we're getting even more hash right? Or is that just the "insurance" that we were initially offered?

With cointerra hardware underperforming it's currently breach of contract regardless to measure in hashrate and claim an additional 20% from 80% taking to what would usually be '100%' is 'extra'. This news of added hashpower for late and underperforming December, is a fresh update. It goes without saying that there would be no tangible reason any single Dec batch customer would be excluded from this compensation, if they were they would be at a significant disadvantage, so it would also apply here. Bear in mind these are some of CT's earliest investors. and (supposedly) 2 customers already have their units before them

I expect large sell offs if Cryptx attempts to claim this is not the case.

MonkeyBear68

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Since they are not receiving the miners till the second week in February, we (investors) should hopefully qualify for the second 20% increase to bring the total to 3.45 GH/s per share.

Cryptx did not address the questions about the second free mining rig for first batch Cointerra orders so I guess that does not apply. Sad

Luckily hash rate seems to be bouncing around 20,000 Thash/s so hopefully it will not go up too quick in the next 2 weeks.

Since dividends pay out every Friday at 15:00 GMT, I expect the first dividend would be on Friday Feb 21. Based on PETA getting their equipment in the second week of Feb.

spartan82

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Quote from: EdoBcn on February 03, 2014, 05:32:42 PM

looks like we got Cryptix comment for this week (10 days) period. Now we need to wait for the next ...

this is becoming quite stressful. we all invested good money here.
Havelock doesn't bother. Cryptix at least says something, but only every 7-10 days... Still... I'm starting to be scared.
The bunch of stock shares on Havelock makes possible to sell only under purchase price. Not to mention that we would need some buyers...

it is sad. I'll hold, but I don't have a good feeling...

"mining to start after mid February" hypothesis... it is a fact. Best case scenario, you really think we would see dividends...when???

Best case scenario is third week of February if we deploy mid February. Basically should be receiving divs one week after mining

EdoBcn

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looks like we got Cryptix comment for this week (10 days) period. Now we need to wait for the next ...

this is becoming quite stressful. we all invested good money here.
Havelock doesn't bother. Cryptix at least says something, but only every 7-10 days... Still... I'm starting to be scared.
The bunch of stock shares on Havelock makes possible to sell only under purchase price. Not to mention that we would need some buyers...

it is sad. I'll hold, but I don't have a good feeling...

"mining to start after mid February" hypothesis... it is a fact. Best case scenario, you really think we would see dividends...when???

spartan82

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Quote from: cryptx on February 03, 2014, 04:23:07 PM

Current status of PETA-MINE project:

Both CoinTerra and Bitmine enter production stage. Although this is good news, we still don’t have an exact shipping date for the delivery of our miners. We have been in close contact with both companies and estimates are that we should begin receiving our first units in the 2nd week of February (but this still remains an estimate).
We are also in talk with several PCB and software engineers to develop our own mining board based on Bitmine’s A1 chip. This to increase our flexibility to deploy new systems and focus on criteria that are important for the growth of PETA-MINE like cost per unit, energy consumption, scalability, heat dissipation etc.

Our primary goal goes to getting the miners as soon as possible and start the deployment / mining of PETA-MINE.

This puts us all back at square one really. Now as part of your original insurance we were told that if we start mining after mid February then an additional 20% will be added:

Quote

If the company starts deployment after mid February, 2014, it will add an additional 20% on top of the previous 20%. In that case, each share would be entitled to 3.45 GH/s of hash power.

CoinTerra has informed the public that all December orders will receive 100% on top of their original orders. I dare say we are included in this. Could you let us know which of these two we will be compensated with so we, the investors, know where we stand in this venture?

Morguk

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Quote from: cryptx on February 03, 2014, 04:23:07 PM

Current status of PETA-MINE project:

Both CoinTerra and Bitmine enter production stage. Although this is good news, we still don’t have an exact shipping date for the delivery of our miners. We have been in close contact with both companies and estimates are that we should begin receiving our first units in the 2nd week of February (but this still remains an estimate).
We are also in talk with several PCB and software engineers to develop our own mining board based on Bitmine’s A1 chip. This to increase our flexibility to deploy new systems and focus on criteria that are important for the growth of PETA-MINE like cost per unit, energy consumption, scalability, heat dissipation etc.

Our primary goal goes to getting the miners as soon as possible and start the deployment / mining of PETA-MINE.

Thanks for the update but you completely missed this out...

Quote from: Morguk on February 03, 2014, 03:07:33 PM

"All customers who ordered the first batch of TerraMiner IV units, scheduled to ship in December, will now receive a second rig, free of charge." via http://www.coindesk.com/cointerra-performance-issues-security-breach/

So we're getting even more hash right? Or is that just the "insurance" that we were initially offered?

cryptx

sr. member

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Current status of PETA-MINE project:

Both CoinTerra and Bitmine enter production stage. Although this is good news, we still don’t have an exact shipping date for the delivery of our miners. We have been in close contact with both companies and estimates are that we should begin receiving our first units in the 2nd week of February (but this still remains an estimate).
We are also in talk with several PCB and software engineers to develop our own mining board based on Bitmine’s A1 chip. This to increase our flexibility to deploy new systems and focus on criteria that are important for the growth of PETA-MINE like cost per unit, energy consumption, scalability, heat dissipation etc.

Our primary goal goes to getting the miners as soon as possible and start the deployment / mining of PETA-MINE.

spartan82

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Activity: 658

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Quote from: MonkeyBear68 on February 03, 2014, 03:48:48 PM

Quote from: Morguk on February 03, 2014, 03:07:33 PM

"All customers who ordered the first batch of TerraMiner IV units, scheduled to ship in December, will now receive a second rig, free of charge." via http://www.coindesk.com/cointerra-performance-issues-security-breach/

So we're getting even more hash right? Or is that just the "insurance" that we were initially offered?

From the Petamine Website:

"For example, if CryptX ultimately deploys the mine after mid January, 2014, an additional 30 TH/s of power will be added to the PETA-MINE completely free of charge to shareholders, and each share will be entitled to 2.88 GH/s of hash power. If the company starts deployment after mid February, 2014, it will add an additional 20% on top of the previous 20%. In that case, each share would be entitled to 3.45 GH/s of hash power."

Our insurance states we will have a 20% increase for every 30 days late. We are already at 2.88 GH/s because of missing the mid-Jan deadline. The above statement Morguk quoted seems to imply a benefit of 100% that will be given to all customers who ordered the first batch of TerraMiner IV units. I realize that some of our hashing power will come from other sources (Bitmine, second batch of Cointerra), but this doubling that Cointerra has given on the first batch should still provide increased hashing power to us.

Can Cryptx confirm what affect Cointerra's second free rig will have for us on the hash power per share of PETA?

As for Cryptx, by rights they should provide us with the extra hash power as stated by CoinTerra, but they have clearly covered themselves in this situation by stating their terms as above on their website. So really they dont have to share all this extra hashing power with us and still be within their rights to the investors. However, I do not think one single investor, especially the long term holders, would be happy with this, not one bit.

Would be great to hear from Cryptx right about now...

MonkeyBear68

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Quote from: Morguk on February 03, 2014, 03:07:33 PM

"All customers who ordered the first batch of TerraMiner IV units, scheduled to ship in December, will now receive a second rig, free of charge." via http://www.coindesk.com/cointerra-performance-issues-security-breach/

So we're getting even more hash right? Or is that just the "insurance" that we were initially offered?

From the Petamine Website:

"For example, if CryptX ultimately deploys the mine after mid January, 2014, an additional 30 TH/s of power will be added to the PETA-MINE completely free of charge to shareholders, and each share will be entitled to 2.88 GH/s of hash power. If the company starts deployment after mid February, 2014, it will add an additional 20% on top of the previous 20%. In that case, each share would be entitled to 3.45 GH/s of hash power."

Our insurance states we will have a 20% increase for every 30 days late. We are already at 2.88 GH/s because of missing the mid-Jan deadline. The above statement Morguk quoted seems to imply a benefit of 100% that will be given to all customers who ordered the first batch of TerraMiner IV units. I realize that some of our hashing power will come from other sources (Bitmine, second batch of Cointerra), but this doubling that Cointerra has given on the first batch should still provide increased hashing power to us.

Can Cryptx confirm what affect Cointerra's second free rig will have for us on the hash power per share of PETA?

EdoBcn

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double???

Morguk

hero member

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"All customers who ordered the first batch of TerraMiner IV units, scheduled to ship in December, will now receive a second rig, free of charge." via http://www.coindesk.com/cointerra-performance-issues-security-breach/

So we're getting even more hash right? Or is that just the "insurance" that we were initially offered?

michaelGedi

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"to be or not to be, that is the bitcoin"

Quote from: mww on February 03, 2014, 07:29:11 AM

Quote from: mmitech on February 03, 2014, 05:03:04 AM

Cryptx any update from both Cointerra and Bitmine ?

+1

This just screams amateur operation. CryptX, your running well behind on schedule which is understandable, but ignoring your investors at a time like this just shows that your not ready for a business of this size.

if it's understandable you wouldn't need your hand held via constant updates and you wouldn't feel the need to have a dig at the operation

pleiotropik

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Update: http://www.coindesk.com/cointerra-performance-issues-security-breach/

mww

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Quote from: mmitech on February 03, 2014, 05:03:04 AM

Cryptx any update from both Cointerra and Bitmine ?

+1

This just screams amateur operation. CryptX, your running well behind on schedule which is understandable, but ignoring your investors at a time like this just shows that your not ready for a business of this size.

Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 235. (Read 565837 times)