[HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 258.

frito

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Quote from: dhenson on October 29, 2013, 03:20:24 PM

Cryptx has an existing business selling these boards. He knows the market better than anyone. If they don't sell at the asking price then they will simply continue to mine.

Look at other HW pricing. Also they would need to sell about 320 boards (16TH/50GH) for 600EUR Quickly (HW price GH/s/USD should be dropping approx. inverse to difficulty), which i think is unlikely.

Quote from: dhenson on October 29, 2013, 03:20:24 PM

How can you in one breath say we're asking too much per board and then in the next say we will make more by mining.

I can do it in half a breath too.Those two things do not contradict each other.
If you do the math(someone already did it here today) it does seem as a better option(even though not by much) to keep on mining till Dec (till 100TH/s is deployed) then try to sell the old boards.

Quote from: dhenson on October 29, 2013, 03:20:24 PM

These are worth more to us selling now.

Same answer as above.

frito

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Activity: 129

Merit: 100

Quote from: ujka on October 29, 2013, 03:06:57 PM

Quote from: frito on October 29, 2013, 02:55:03 PM

3.How is the reinvestment of 35% going? Has there been anything reinvested yet?

Reinvestment (35%) starts with the deployment of the mine in december (if cointerra delivers). This mine now, 16TH, is CryptX private. But minting for our dividends.

First it was supposed to be 20TH/s not 16, it's just at 80% of promised capacity.
Second they have the reinvestment build in the showcase model (in the spreadsheet) from October.

hephaist0s

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Activity: 711

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Quote from: dhenson on October 29, 2013, 03:20:24 PM

Cryptx has an existing business selling these boards. He knows the market better than anyone. If they don't sell at the asking price then they will simply continue to mine.

How can you in one breath say we're asking too much per board and then in the next say we will make more by mining.

These are worth more to us selling now.

+1

dhenson

legendary

Activity: 994

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Cryptx has an existing business selling these boards. He knows the market better than anyone. If they don't sell at the asking price then they will simply continue to mine.

How can you in one breath say we're asking too much per board and then in the next say we will make more by mining.

These are worth more to us selling now.

ujka

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Activity: 630

Merit: 500

Quote from: frito on October 29, 2013, 02:55:03 PM

3.How is the reinvestment of 35% going? Has there been anything reinvested yet?

Reinvestment (35%) starts with the deployment of the mine in december (if cointerra delivers). This mine now, 16TH, is CryptX private. But minting for our dividends.

frito

full member

Activity: 129

Merit: 100

CryptoX,fellow Shareholders

1.There is no way you can sell 50GH/s for 600EUR, way too overpriced.

2.Mining continuation will likely bring more BTC by the end of Dec 2013. Lets sell the old HW then(after Dec) for e.g. 100EUR and divide it between shareholders.

3.How is the reinvestment of 35% going? Has there been anything reinvested yet?

4.16TH/s is not 20TH/s. When will it be mitigated?

thx

iCEBREAKER

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Crypto is the separation of Power and State.

Quote from: webbrowser on October 29, 2013, 08:09:15 AM

Is cointerra on track for dec delivery? I thought I read about a delay somewhere.

No, Cointerra is not on track for dec delivery.

You may have read about their tape-out problem. It was supposed to be done the first week of Oct, but it's taken all month.

Cointerra is lucky if they get chips in Dec and not mid Jan.

No way they can ship boxes this year, after losing 3 weeks to tape-out delays.

dhenson

legendary

Activity: 994

Merit: 1000

I voted yes... seems like a no brainer to me.

webbrowser

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Activity: 215

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Is cointerra on track for dec delivery? I thought I read about a delay somewhere.

I suppose that the datacentre and power fees are a fixed contractual fee, even if the bitfury miners are sold?

BenTuras

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Quote from: bulltrap on October 29, 2013, 05:02:09 AM

There is no hardware cheaper than this available to be bought immediately. Also they are not auctioning the boards so if they can't sell for the price they are asking they will just continue hashing. I think there is nothing to lose by trying to sell.

How much are you willing to pay for a money making machine that will bring you €230 in the coming 3 months ?
(I know, it's hard to see that number, I am disappointed too, with all the expensive hardware I have).

bulltrap

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Activity: 76

Merit: 10

Quote from: BenTuras on October 29, 2013, 04:53:43 AM

The selling price of €600 is way too optimistic.
More and more people realize there is no ROI in high priced mining hardware.
More realistic is €250 per board, so that means 416BTC in one time dividend.
Continue to mine for the next 5 difficulty periods could bring in 528BTC.

I took a hefty 40% increase in difficulty to prevent being overly optimistic.
If I am too pessimistic, it could even be more than 528BTC.

Taking 40, 37, 34, 32, 30, ... is thinking too positive IMHO.
Many vendors are close to releasing new hardware.

I stand by my choice of No.

There is no hardware cheaper than this available to be bought immediately. Also they are not auctioning the boards so if they can't sell for the price they are asking they will just continue hashing. I think there is nothing to lose by trying to sell.

BenTuras

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Activity: 826

Merit: 1001

The selling price of €600 is way too optimistic.
More and more people realize there is no ROI in high priced mining hardware.
More realistic is €250 per board, so that means 416BTC in one time dividend.
Continue to mine for the next 5 difficulty periods could bring in 528BTC.

I took a hefty 40% increase in difficulty to prevent being overly optimistic.
If I am too pessimistic, it could even be more than 528BTC.

Taking 40, 37, 34, 32, 30, ... is thinking too positive IMHO.
Many vendors are close to releasing new hardware.

I stand by my choice of No.

cryptx

sr. member

Activity: 350

Merit: 250

Quote from: BenTuras on October 29, 2013, 04:12:33 AM

I'll give it a try:

16TH = 16000GH. Each Furyburner board is 50GH, so around 320 boards available.
1000BTC/320=3.125BTC/board, around €600 which is a steep price in my opinion.

Selling:
25% available for dividend: 250BTC one time, then nothing till december mine comes operational.

Continue to mine:
164BTC mined during next 8 days
Then difficulty rise of +/- 40%, mine 9 days +/- 128BTC
Then difficulty rise of +/- 40%, mine 9 days +/- 91BTC
Then difficulty rise of +/- 40%, mine 9 days +/- 65BTC
Then difficulty rise of +/- 40%, mine 9 days +/- 47BTC
Then difficulty rise of +/- 40%, mine 9 days +/- 33BTC

All of the above might be too positive, but the answer is clear to me: continue to mine so I voted NO!

(I based my calculations on http://bitcoinwisdom.com/bitcoin/difficulty)

Please shoot holes in my estimate above, I am only human Wink

VERY IMPORTANT NUANCE

We will give a 100% dividend to shareholders!

20-25% is the ratio between one time dividend and share price:

1000 BTC in hardware sale
63496 shares
dividend = 0.01575 BTC
or 24% of original IPO price
or 28% of today's price

BenTuras

hero member

Activity: 826

Merit: 1001

I'll give it a try:

16TH = 16000GH. Each Furyburner board is 50GH, so around 320 boards available.
1000BTC/320=3.125BTC/board, around €600 which is a steep price in my opinion.

Selling:
25% available for dividend: 250BTC one time, then nothing till december mine comes operational.

Continue to mine:
164BTC mined during next 8 days
Then difficulty rise of +/- 40%, mine 9 days +/- 128BTC
Then difficulty rise of +/- 40%, mine 9 days +/- 91BTC
Then difficulty rise of +/- 40%, mine 9 days +/- 65BTC
Then difficulty rise of +/- 40%, mine 9 days +/- 47BTC
Then difficulty rise of +/- 40%, mine 9 days +/- 33BTC

All of the above might be too positive, but the answer is clear to me: continue to mine so I voted NO!

(I based my calculations on http://bitcoinwisdom.com/bitcoin/difficulty)

Please shoot holes in my estimate above, I am only human Wink

cryptx

sr. member

Activity: 350

Merit: 250

Quote from: Digi7ech on October 28, 2013, 05:55:33 PM

Can you explain this.^

Do you have new hardware in place? getting new hardware very soon?
Selling ALL current hardware?

Why sell? are you going to use the fund to purchase more efficient hardware? that is currently available? or pre-order scenario?

The hardware that is hashing now, is an extra incentive given by CryptX to their shareholders. The actual mine will be deployed in December at 1 GH/share.

We want our shareholders to have the choice between collecting a weekly dividend of mining income or a one-time hardware sale dividend. (The hardware we sell is the Bitfury mine we have running now, not the hardware we are going to deploy in December.)

Each shareholder can make his/her own calculations and conclude what suits him/her the best.

Votes can be placed here:
https://cryptostocks.com/securities/52

Digi7ech

member

Activity: 121

Merit: 10

HBN <3

Can you explain this.^

Do you have new hardware in place? getting new hardware very soon?
Selling ALL current hardware?

Why sell? are you going to use the fund to purchase more efficient hardware? that is currently available? or pre-order scenario?

cryptx

sr. member

Activity: 350

Merit: 250

Dear shareholders,

We are going to issue a vote on cryptostocks.com about a possible hardware sale.

We like you to choose between continue mining with the existing hardware (+/- 16 TH/s) or sale of current hardware through our website www.asic-hardware.com

We anticipate to collect about 1000 BTC in the hardware sale. This will result in a one time dividend of about 20%-25%.

During the sale of the hardware, we will keep mining the equipement and keep paying dividends each friday of the mined BTC's.

This to outweigh if a one time dividend of hardware sale will return more than combined mining dividends.

Please vote here:
https://cryptostocks.com/securities/52/voterequests

hephaist0s

hero member

Activity: 711

Merit: 532

Dividend received today of 0.00236235, or 3.63%. Great stuff.

dhenson

legendary

Activity: 994

Merit: 1000

The 20 GH was an added bonus to spur ipo sales. The base rate per share is 1 GH in december.

Ashitank

hero member

Activity: 560

Merit: 500

So with 16 Th/s mine each share is mining @ ~250 mh/s Huh

Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 258. (Read 565897 times)