Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 244. (Read 565837 times)

Of course it's lacking. It's not easy to make an accurate model in spreadsheet.

Why 10 days?
They tried to follow difficulty update which happens on 10 to 14 days, depending on increase.
They are not calculating weakly divs, there is only 'total' divs/share for the whole year.

Why fixed increase?
Well, it's not fixed, look closer, it's changing, starting with 2500 (jan, feb), then it's 3500 (mar-may), after that 4000.
If you want that in % - that's something like starting with 20% increase now and decreasing that every retarget period by 7%. (maybe too optimistic?)

Lol I didn't even know the dividends would increase depending on BTC/USD. Wow, so there's potential for 2-3 BTC return I'm happy! I have 10 LTC in my wallet, tempted to invest more. Do you have any shares?

Just for fun - since bitcoin is rallying again, let's see what happens in that spreadsheet if it's value is, say, 1500$.
Download the spreadsheet, input 1550 in BTC/USD cell, and look at the dividend/share cell: 0.402  
* your 7 shares =

I feel that I need to clarify my position.  I don't think that anything 'fishy' is going on.  Cryptx has proven himself to be fair and honest and at this point there is simply no reason to doubt anything that he says.  The mine has been run honestly and more than fair (additional hardware out of his own pocket etc.)

My previous statement was simply due to the fact that I question his motivation.  Being an early investor in Cointerra it is my opinion that his loyalties seem to be somewhat at odds between PETAMINE and Cointerra on this issue.

The original 20% deal is insufficient to account for the lost revenue from Cointerra's delay.  Cointerra has acknowledged this by offering other December customers compensation that far exceeds the 20% we are currently receiving.  Obviously, any deal we strike that improves our compensation will negatively effect Cointerra.

Obviously, as a large investor in PETAMINE, I want our operator to be 100% committed to doing everything possible to ensure it's success.  By the information we are receiving from Cryptx, it does not appear that is happening.

I would appreciate a clear statement to the effect of negotiations are underway and we can expect an answer by x date etc.  Simply not attempting to receive fair compensation does not sit well with me and I'm assuming it doesn't sit well with other share holders either.

All this talk is just that - talk.
We all read the contract and that spreadsheet and agreed to the terms when we bought shares.
What's all that 'talk' now?

$0.45 is not only for electricity, it's 'hosting fee' - including electricity, maintenance and hosting.
About cointerra (thay are a few weeks late with batch #1) - last thing I read in their thread is that they are offering batch #1 customers a MARCH upgrade of the same hashing power they bought for december. But only if they (cointerra) are more then 30 days late. Don't know what they are offering to CryptX.
Bitmine - also a few weeks late with it's first batch.
But all that things are out of CryptX control.

The higher electricity costs were addressed earlier in the thread: https://bitcointalk.org/index.php?topic=310783.msg3727002;topicseen#msg3727002

I only have 7 shares in PETA as that's all I can afford, but all this talk is making it sound fishy. The high elec costs and the lack of comms with cointerra. What's going on? I thought I made a sound investment. I predicted 1 BTC return over 12 months with 7 shares.

From their website
http://www.peta-mine.co/cryptx-buys-datacenter/


I have looked at their spreadsheet and find it lacking. For one its based on 10day increments when they will be paying weekly. Second, their increase in network hashrate is fixed instead of an average %. I could go on.

According to their website, (see above) they have capacity for solar power, so maybe that .45 for electricity is outdated, or accounts for paying off the install of the solar panels.

Ok. Noted that we have very good nordic electricity market in Finland(together with sweden, norway and denmark)  and competition is good for consumers. Actually Finland took electricity tax away from data centers last year to lure more of them here.(google already brought their gmail servers here)

CryptX is based in Belgium where they are being r*ped by electricty companies. Price is 0,23 € on average -> 0,3 $ /kWh ... Not the best place to build a farm in the world.

Then yes, 0,45$ is anormally big

Is it just me or do you think electricity cost of 0.45$/kWh is quite big?
It says it here:
https://docs.google.com/spreadsheet/ccc?key=0AjI5bgsiFJAidFBsclpVM0FSdFZNalRGNnVlc0VxSGc&usp=drive_web#gid=1

I myself pay about 0.14-0.16$/kwh in Finland.

Its info for your brain to chew on.
My main point being 2 fold I guess. 1) Why were you basing your math on a site that is claiming a 1% increase when its doubled in the past 3 months? 2) The "compensation agreement", isn't that important for a couple of reasons, a) they are on schedule, and b) Its the reinvest that matters to keep with difficulty.

1 last thing.
http://cointerra.com/engineering-update-goldstrike-packaged-chips-system-board-assembly/

In what way does this alter my conclusion?

I am using the longterm average because thats how I read data. The more info the better. We could cut everything out pre asic, but those increases wont affect the #s that much, so there is no need. We can't assume anything in the short term based on previous months, this is why I am looking at the long term average.
Changes in difficulty are likely tied to ship dates from the asic manufacturers. So if cointerra meets their deadline for jan batches, we will likely see a larger increase in feb as these machines are brought online.

Again, from a statistical standpoint, this parabolic rise can not continue. I am not saying it will stop tomorrow, but it will have to slow eventually.
Look at it like this. Assuming 10phs where we are equals 1.5billion in difficulty, to increase the difficulty to 3billion, IE 100% increase will require 10phs more of hardware coming online, if all the chips were cointerras 500ghs chips, 10,000 chips would need to come online. And this doesnt account for all of the older gens of hardware that are being made obsolete with every increase, nor the hardware that is likely dieing or being pointed at altcoins.

I am not saying that we should be happy. But its not the 20% thats a big deal, its the % reinvested to keep up with difficulty that really matters. And again, it looks like cointerra is about on schedule, so the % of extra power is perhaps a moot point at the moment.

I only recently jumped in on shares when they moved to havelock. I plan on increasing my # of shares as funds allow.
Again, We DO NOT KNOW the fine details of the deal petamine cut with cointerra. If cointerra is offering extra hashing power to the end user, perhaps they will step up and ship extra chips to petamine if they dont meet deadline. Again, WE DO NOT KNOW

If the site you mention, which I know nothing about, is accurate, then this does present a real problem. Using a long term average is not useful for prediction of next month, but using data from Nov and Dec at the site you mention we can expect an adjustment per month of 40%+. That would indicate a real-value loss of 20%+ per month, and these values do compound over time.

While I think it is unrealistic for us to pursue a 100% compensation arrangement, including the fact that we do not know the details of that contract as rdyoung mentions, I do think we should pursue protection from loss of real value. Perhaps we can argue for treatment only half as good as this other person received, obtaining 50% compensation.

While I do not think any renegotiation will happen realistically, and while I think PETA is a good value at .05 regardless, as I said before I would be all the more pleased if we can leverage this situation into an improved deal.

Up until this point, I have been very happy with how things have been going.  In fact,  I have been a PETAMINE supporter since day one.

This issue however stinks to me.  Either we are too close to Cointerra to demand equal compensation, or something else is going on that we don't know about.

Simply saying that we should be happy with 20% just doesn't fly.

My point is that exactly. We DO NOT KNOW whats going on behind the scenes. To me, the same guarantees that they are providing to the public where a lot of orders are likely people buying "money machines", wouldn't necessarily apply to orders on the scale of petamine.

Why are you looking for info that may not apply? According to cointerra they are on schedule. Petamine will likely get their first delivery of chips in january.

What is your point exactly?  That we should be happy with the 20% deal when others are doubling what they purchased?  If anything, raw chips would be cheaper for Cointerra to make concessions on... no build costs, no additional materials etc.

The fact that we aren't going after a better deal is what is concerning me.

We don't know the exact details of their contract with cointerra. We should also consider that they are getting chips not fully functional plug and play hardware. They are likely paying a lot less per hash than the "public".