Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 36. (Read 565829 times)

thats why im going to exit slowly, hopefully the share price goes up a little with low diff change
dropping down alot earlier

Lowest difficult jump in a long time.

I would have kept riding the train but I think ill start to exit, no more people to boost my shares stats up now that its just a fixed GHS, before you could just stay in and keep getting shares that at least tried to keep up with the rising hashrate
 

that's not the product.  PETA delivers BTC from mining operations in the form of dividends in the same way any company charges for it's service.  yes there is overhead involved and he's taking his money.  that's business.   whether or not the overhead or his personal take is reasonable is another matter and we could debate that until the cows come home, I suppose.

I think if he's really paying .50/kwh that's insane, but that still doesn't make it a utility company.  If he is paying that for power, he should cut that shit out, as it is costing investors money, which would normally be a breach of his fiduciary responsibility to shareholders. 

even if we do look at it as if he's selling electricity/hosting, he's out of business if he has no electricity to sell, miners to host, or some other means of generating revenues, so I guess I don't care if people would like to look at it that way or not.  none of that impacts the analysis of avenues to keep the business moving forward, as these elements are inextricably linked, so it's two sides of the same coin.

we can disagree of course.  for me it's a casual conversation/analysis and I've got no problems with people disagreeing.  I've got some PETA, but not a shit-ton so while I'd like to see it succeed so investors that are in up to their eyeballs don't get raped, it doesn't matter all that much to me.  It's more about discussing ideas as a mental exercise.  the industry interests me, so I'm just talking shop.  I do see some possibilities for PETA and it will be interesting to see what exactly it does, as it's pretty clear they've gotta bust a move or they're headed out.

Boy I sure do love my cryptx shares on HaveLost, I mean havelock!  /* sarcasm */

We are going to need a bigger float.

@Pentax:  cryptx's business is not mining, but selling boutique electricity and hosting.  If that means mining SHA256, he'll do it.  If it means mining scrypt, he'll do that too, but mining is merely instrumental here--it simply makes it possible to sell electricity and hosting [stuff that he has, his "business"] at couture prices to eager Bitcoiners.

PETA's share price and profitability aren't important.  As long as he mines enough coin to continue paying his hosting fees, he's in the black.*  When BTC mined < hosting costs, he'll sell the gear and IPO something new.  If that means becoming a chip/miner manufacturer, hurrah, great IPO idea!  No reason for him to exhaust himself shoveling shit against the tide or, keeping to the pony theme, flog this dead horse.

*And as long as the rabble don't get pissed off enough revolt, but that's pretty unlikely.

Couldn't agree with you more...and obviously Cryptx is no dummy (hell, he's the only one making anything on this venture atm) so I suspect that he more than anyone is aware that this project is literally a slow-bleed at this point given no hardware reinvestment at all.  I guess only time will tell.

Though I'm pretty worried about the ego part you mention too.  Fat bitcoin wallets have a tendency to increase people's ego's I have found sadly :/

yep and yep.  overhead costs have to come down. hashrate has to come up, and not at retail prices, or even volume discount numbers from manufacturers.  some of that value add, ie, technical expertise has to be brought in house.  there are a range of options for that, from designing things from ground up, to purchasing hashboards/chips/PSU's/cooling and knocking them together.

*I'm hoping he realizes that this project is likely on limited time unless he changes the status quo.  I do believe in self preservation as a pretty effective motivator.  Hell who wants a real job when you can bank it on your own.

I do wonder about his experience level in running a business.  One of the hardest things for people that run their own business, and think they know everything better than anyone else possibly could, is to ask for help or admit that maybe they're in over their heads or overwhelmed.  If the path is not crystal clear put the ego aside and get the people in that can round out the mission.

Two things need to happen for cryptx to become a profitable venture for anybody but cryptx himself:
1.) Lower electric/hosting fee's.  Allegedly running off 100% green energy right now so .50/kw/h between scrypt and sha projects is just absolutely outrageous (have been harping on this point for sometime)
2.) In house chip/board development.  Obviously purchasing pre-fabbed hardware from somebody else isn't going to do one iota insofar as capturing a larger % of total hashrate is concerned.

*I seriously doubt either of these will be happening given that cryptx-sha is essentially a cex.io like GHS platform now with far less volume.  And again, he's pulling a pretty damn decent income of nearly 70BTC/week just maintaining the status quo.

they could do that, yes, but without changing the business model they're simply recycling the same idea.

in any business that only goes so far.  we only need to look at the value of Scrypt see how effective that would be.

and, yes, I know you knew that.....

I know that if I was sitting on a business that was looking for new solutions, I'd be looking for new solutions.  any business should always be looking for new opportunities/markets, or they're dead ducks.

In my business that means new markets, new products and product lines.  without being overly optimistic there is possibility for that for PETA also.

it has some strengths, which I could tick off, although the most important is that they have a revenue stream established that would allow for some of this.  If they sit, which I'm not assuming they are, that will dry up.

as part of a longer term strategy converting the debt to shares is a good move.  it clears the balance sheet, clearing the way for other options.

I'm not saying this is what they're doing,  or that was the purpose for this conversion, which may have simply been a hail mary to get themselves out from under a debt that could potentially have sunk them, but I'm not assuming they're doing nothing.  When you've got a business that makes money the last thing any sane person does is sit and watch it sink.

Didn't those horses do the same as some of the PETA shareholders? Walk on rainbows?

...or just spawn new projects like SCRYPT.  The motivation here is not to keep a dying nag going at any cost, but to make money from boarding equines, equine stalls and accessories

whoever is running this has the motivation to keep it going as long as possible obviously.

at some point they'll have to start assembling their own stuff.  how well they can swing deals and what they could ultimately build, and it's overall effectiveness, are obviously huge unknowns'; although if I was running PETA and wanted to keep making monayz, exploring other options in terms of more effectively stimulating growth/revenue is where my attention would be at this point.

in that model they're saving cost,  expanding their hashpower at one would hope less than typical market cost, and  could also sell hardware, ie, if you can't beat em join em.  the hardware people are the only ones that seem to be making money.  build it, sell it, spit that back as dividends also, ie, stimulate share value in a meaningful way.

just going blindly forward with the current paradigm is clearly problematic.  diversification may be a possible path to explore if they want to keep the project moving forward.

Is someone willing to donate his/her profit from PETA for my accurate calculation?

True enough.  Will only get worse from here too. 

BTW, no mention from cryptx as to what the newly adjusted 0.075/share for loan payback will be repriced at nor am I seeing any 65100 share (14*4650) sell order anywhere on the books.

Can you spot a trend since the loaned hardware came online?



Yeah, multiplying todays div by 365 makes as much sense as anyone who did it when peta mined nearly 100BTC / day.

Anybody else taken a look at their [Book Value] for petamine shares since the stock split?  I nearly shat myself when I saw it then quickly realized they are more than likely not accounting for 14:1 issuance.

Oooh I know...

0.00001724 * 365 => 0,0062926 * (PETA COMPETENCE) => 0.0000000 BTC, give or take a 0

Big question... by some stupid logic they should start earning money, but it will probably end at 0 BTC.