Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 251. (Read 565837 times)

The last time I checked (which was mid-October), Cryptostocks did not have a feature for users to transfer shares to other users/accounts. Has this feature been added in the last few weeks?

?? In that case, perhaps the IPO should be considered over.  You have effectively bought up the remaining shares yourselves, and you can choose to sell them at whatever price.

I disagree.

Please sell all of your shares. As low as possible.

Cheaper for me

Ok let's rock this thing in January and make a lot of dividends

Nonbelivers; please stop selling chaep shares... you just shoot your own foot...

I also still feel really good about how this is going. Even though cryptx has made some changes with short notice, they have been in the best interest of the mine and the investors. To some extent, I'm invested here exactly so that I can put some of my trust in someone else to make good decisions on my behalf. I have my own mining gear which I can control 100% -- and worry about all the time, and when I fail to bet on the right manufacturer or place the right orders I can blame myself 100%. I'm invested in a farm to benefit from someone else's management.

I'm not saying there shouldn't be accountability, there certainly should, but I think the balance here between shareholder input and management initiative has been good.

I personally think Peta-mine is going to make tons of money so I have better things to do then whine about technicalities...I'm busy buying more shares!

I agree with everything stated here. If the operation was bogged down in democratic protocol and everyone was 100% in agreement before any actions were undertaken, then we'd lose a large sum of money and our investment would be left in the dust.  While allowing CryptX the latitude to make a few executive decisions does invite more risk, it also widens our opportunities and keeps the project alive and adaptable.  Even though CryptX has taken some liberties, I personally think they have done a great job at keeping us informed on what is happening and why, and submitted a good portion of the decisions for change to us for a vote.  I am satisfied thus far.

Let me elaborate a bit about current situation and strategies.

Bitcoin mining is a very fast changing business. This means you have to adapt your strategies very fast and often. If you are not flexible about this, you will not make it. We have made a lot of changes to the original set-up and we did all these in the benefit of the PETA-MINE’s shareholders.

If we want the PETA-MINE to succeed and to grow to the biggest public mining operation, we have to make decisions and close contracts months in advance. We have already made arrangements which make it possible to deploy the extra 2.4 GH/s for every share that is sold in the IPO of the last 36,504 shares. If we did not make these contracts in advance, we would have to search the market for pre-orders at the time of the IPO at a much higher cost and at a much later delivery date.

CryptX has already pre-financed this contract for expansion and the contract for reinvestment. We will use the funds of the IPO to pay of this “loan” and to be able to close and make down payments on new contracts of reinvestment. If we do not take this action now, at the time the reinvestment funds will be available from mining activities (Jan/Feb) there will be no possibility to reinvest immediately. If we did not pre-finance the end of Jan reinvestment up to 100 TH/s, there would be no devices to reinvest in at the time we collect the reinvestment BTC.

We need to stay ahead of the game to succeed in the fast world of Bitcoin mining.

The original contract is different from the current situation, that’s correct. The original contract stated 1 GH/s per shares of Cointerra’s mining equipment.

Instead now we have already paid 915 BTC in dividends + the mine will start with a minimum of 150 TH or minimum 2.4 GH/s per share. In addition to that we have also secured a reinvestment agreement for the end of January.

The delivery date of the Cointerra systems is out of our control. We have a paid order for the earliest batch of Cointerra systems. There is nothing more we can do about that.

We do have to halt trading, so people can transfer their shares to our account. This transfer has to be done because we do not have a shareholders list. With the transfer, we know the amount of shares per e-mail address attached to the account. The user has to make a new account with Havelock, so we can transfer the shares to his new account.

Trading will have to be halted anyway, so we use this time to do the IPO on Havelock.

Investors who bought shares on original IPO paid 0.065BTC or at that time about 6.5$/share. Shares at IPO will be offered at 0.05 BTC or about 50$/share. Current shareholders also received about 0.015 BTC / share in dividends.

In my opinion, Cryptx is making a lot of changes without the consent of shareholders.

The vote is only for a move to Havelock Investment, it doesn't state the freeze of sales bij shareholders.
The approved hardware sale was not up to the order that was initialy approved by shareholders.

December date has been adapted to January without approval, and so on and so on.

If you look at the initial contract and the version that it is today, than you can only notice that the 2 couldn't be more different than now.

Al those changes could be impacting the sales of the stock, moving it to a new site wouldn't change that.

7d Volume
Cryptostocks:  444 BTC
Havelock:      1436 BTC

I believe the hope is that there is more trading volume on Havelock, and that may be good for share price. On Cryptostocks the share price just keeps dropping, even when Petamine was paying those great early dividends, and the spread between ask & bid is something like 15% right now with the bids at 50% initial IPO price (even though Petamine has actually performed) so we're effectively locked in unless we want to take a massive loss.
That said, I don't actually know for a fact how the user/volume numbers compare between Cryptostocks & Havelock. Does anyone have that data?

My experience is only as an end user and I've found the Havelock site to be extremely slow and sometimes down, wheras I've had no probs with Cryptostocks.

I see lots of people dubious of Cryptostocks, but Havelock have a great rep, so I'm sure there must be more to this decision - could someone point me at why people don't trust Cryptostocks?

I went on the general positive forum sentiment about Bitfunder, and look how that turned out

This is a bad proposition for the shareholders. You want to freeze trading of the current shares in order to sell more shares yourself at 0.05btc/share. Current shareholders need to be allowed to trade from the beginning if PETAMINE is moved to Havelock.

It means I have to create an account on havelock.
Could you guys advice why?

Why?

UPDATE 04/12/2013:

We have applied for and have been granted a listing of PETA-MINE on Havelock. Before closing this agreement, we will issue a vote among shareholders for switching the PETA-MINE stock from Cryptostocks to Havelock Investments. The vote will start now and end on 6 December 23:59:59 UTC

The vote is also about these series of events:

• 09/12/2013 – 16/12/2013 trade stop on Cryptostocks
• 09/12/2013 – 16/12/2013 IPO of remaining 36,504 shares on Havelock
• 17/12/2013 – trading resumes on Havelock

Practical:

• The current shareholders have to transfer their shares to the CryptX account. This way we can make a list with the e-mail addresses of the shareholders and the amount of shares per shareholder. This transfer has to take place between 09/12/2013 and 16/12/2013.
• Every shareholder has to make an account with Havelock with the same e-mail address they used on Cryptostocks.
• All shares will be transferred to the new accounts on Havelock on 17/12/2013. After the transfer, trading will resume on Havelock.

Remarks:

• All shares sold at the IPO on Havelock will also be entitled to an initial 2.4 GH/s per share. For example if all 36,504 shares are sold at IPO an extra 87,610 GH/s will be deployed and the PETA-MINE will start with 240 TH/s instead of 150 TH/s.
• Shares at the IPO will be offered at 0.05 BTC/shares. This is the original IPO price minus all dividends per share already paid to current shareholders.

You can issue your vote on cryptostocks https://cryptostocks.com/securities/52

And if my aunt had balls she'd be my uncle.

There is no way in Hell Cointerra's chips are going to be ready, much less shipping in assembled miners, by mid Dec.

Mid Jan is unlikely.  Mid Feb is realistic.