Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 43. (Read 565829 times)

As interesting as CoinReturn ...or not so much?

So, if the latest vote passes, I'm guessing that this now means that there will be no future increases in total hashing power?  Does this mean that Peta is now equivalent to CEX in terms of operation? 

Does anyone know if CryptX is planning on adding any more capacity in future and creating new POs?  If so, I imagine that the price per GH & therefore per share will decrease accordingly.

This is certainly an interesting development which potentially changes the game significantly.

Because NOBODY can predict the next bitcoin difficulty let alone the next 10+. This is why you look like a joke when you preach your estimations as if they are fact.

The only thing that matters are the controllable variables like $/gh, w/gh, and $/kwh. Peta failed each of those which is why it has very little chance of success (at ipo price)

And I don't think you actually believe peta was overvalued by 10 times. The recent IPO was ~$3.2/gh so 1/10th would be $0.3/gh which will ROI according to just about any calculator you try.


Ofcourse you don't need permission. I'm just wondering why you dedicate all your precious time to lecture the "noobs" in this thread?

Or is it just purely entertainment to point and laugh at those who lost money?

There are plenty of other scams/failures but why focus exclusively on peta?

Sidenote: I was invested in labcoin less than a week and never ukyoloan.

Jimmothy, when I see a child lurching after its ball as it bounces under the wheels of of a careening pickup, I scream "STOP!"  I reflexively do what's needed to prevent the tragedy that's sure to take place if not for my intervention.  Regardless of being asked.

The foolish tyke neither notices the truck, nor does it fully comprehend the consequences of being run over.  It's playing.  It wants its toy.
Why in the world would it ask for my help?

Why would you?

If anyone could put the numbers in, how come everyone overbought the IPO by pretty much a factor 10x? How come nearly no one took my numbers seriously when I posted them?


Sure, now you know. Just not yet by how much it still is overvalued. Just like now you know Labcoin was a scam. But you didnt know when I told you, over and over and IIRC you also asked me to stop "obsessing" about that.

BTW,  I dont need your or anyone's permission to post whatever the heck I want, and I dont have to wait to be asked for my opinion. No one asked yours either (and if anyone did and actually cared for your opinion, he's an idiot because I dont recall you have ever been right on anything). How's your Ukyo loan doing BTW?

Seriously puppet why are you OBSESSED with PETAMINE?

Everyone knows how to put numbers in to a bitcoin mining calculator and we all know that "doing the math" is just about as accurate as fortune cookies are.

Sure peta was way overvalued and overpaid for HW and hosting but as far as I know nobody asked you to look in to your magic ball and tell them how unprofitable PETA will be EVERY SINGLE DAY.

I told you already you are a Muppet and a false prophet

Enough is enough

keep you prophecies for yourself we all know the risk and math behind this project

thanks,

Ill put my predictions next to those of anyone in this thread. For the record, here is my first spreadsheet:
https://bitcointalksearch.org/topic/m.7396854



Those numbers are damn near spot on, considering I didnt try to guess when difficulty changes would occur and just calculated averages per week. We are now in week 4, for which I had predicted 15.2B difficulty and 0.0012 BTC dividends. In reality its 16,8B difficulty and 0.0011 BTC dividends. Next week difficulty will likely remain the same and my prediction of 16.2B will be off by a full  4%. Also note that I was  too optimistic, as predicted.
So, who did better?

You guys are as predictable as labcoiners.  Any word from your master, good or bad--price spikes ...and deflates over the next day as reality seeps back in

yep

So Puppet = Muppet and a false Prophet

 

I like that.  Newpio.  Someone should register an .io domain name!

Correct me if I'm wrong:

1GH/s on cex.io trades for 0.0069 BTC right now. They charge ~$0.25 per GH/s and month for maintenance

1GH/s on Havelock/PETA trades for 0.0022 BTC (assuming 14GH/s per share). PETA charged 0.0000591681 BTC per GH/s for one week of maintenance. Assuming a bitcoin price of $600 this comes down to ~$0.14 per GH/s and month.

So PETA gigahashes are more than three times cheaper than cex.io gigahashes right now?

And we might have that whole P2Pool thing going for us soon? This could draw a lot of attention and maybe even warrant a new PO soonish?

Cex price is about 0.007 per Ghs. That puts the shares at 0.007*14= 0.098 per share.

Personally I think cex is overvalued so the price will be a bit lower.

All in all I feel bad for the panic sellers. Off to buy some more units before the decision.

Happy hunting.

what's the price compare to cex.io and where should it trade if the vote pass?

Math teacher/prophet

As it should. Its clear Cryptx is also worried its loan would never get paid back, which is why he is proposing converting the loan to shares.. But its a reasonable deal, valuing the shares well above market value and miles above NAV or expected revenue. Moreover, 100% dividend pay out will make it impossible for cryptx to squander what little could otherwise ever end up the reinvestment fund. This is a good deal, shareholders should take this opportunity with both hands, at least if they are dumb enough to keep their shares in the first place, because fundamentally this changes almost nothing.

lmao...here we go.  I'm pretty sure this will get voted through with a quickness!

*edit: maybe not, just tried to cast my vote and it's a no go right now.  'Oops!' screen

**re-edit: just tried again and appears as though it worked this time.

I think that trying to profit by mining in general is now a lost cause. CryptX has little to do with the fact that the model in general is one that currently guarantees losses. Let me explain as follows:

Whenever the "next" greatest mining chip is being planned, you have to pre-order months in advance. Your estimate of profits is based on getting the chips exactly in time and the network hashrate going up in set intervals. The problem is that there are always delays and hashrate (from existing chips still coming online) will be much higher when you get your chips. If you look at any mining projections the first few weeks are crucial to whether you break even, let alone make a profit. Once a set of chips are released then this immediately will cause a huge jump in hashrate when this new technology comes online.

Another thing that I find curious is the huge increase in hashrate a couple of weeks ago, followed by the current dip. I have no proof but I suspect that many manufacturers were "testing" the miners for a couple of weeks before sending them out. If you think about this it makes perfect sense as they now have taken the miners offline in order to ship them, thus the current lull in hashrate. Once customers receive their miners the hashrate will abruptly rise. The problem is that the BTC mined during testing should belong to the customers and this BTC is crucial to a customer being able to make a profit from the miners they purchased in good faith. They are essentially stealing from their customers by doing this. The problem is that they can justify this by saying that they need to test the equipment. I believe if a customer has pre-paid for any chips or mining equipment, then any BTC mined during testing should be the customers and taken off the price of the equipment.

Yet another issue is the perceived profitability of mining shares based on the annual yield. The problem is that hashrate is always going up, which in turn causes dividends to drop, which in turn causes share price to drop and this of course causes the annual yield to again go up. The problem is that the annual yield is now based on a LOWER share price! You are in reality simply paying yourself a dividend by eating away at your initial investment capital. The fact that the mining chips will never generate enough BTC to pay for themselves, let alone provide for profits, means that the current BTC mining model is a losing proposition for investors.

Even if you take the most advanced liquid cooled mining chips in an area with the lowest electricity cost you still could be in for failure. There simply is no guarantee that the equipment will pay for itself. Currently the BTC network is designed to produce 6 blocks per hour @ 25 BTC/Block. This means 3600 Bitcoins per day no matter how much mining equipment is directed towards this goal.

Do not base the current BTC mining situation on what happened in the past!!  The easy mining days are over. If you want to profit from BTC simply invest in BTC and not the insane dog chasing its tail that mining has become!!

Yup...seriously starting to doubt that the "loan" will ever get paid off at this point.  CryptX has essentially become nothing more than an ASIC reseller selling used ASIC hardware that will never ROI, paying out ever diminishing weekly dividends, all the while raping shareholders on hosting/admin costs!  It's a joke and sadly the joke has been on me all this time

You do realize mining revenue and dividends have nearly halved in exactly one month since all the loaned hashrate went online, right?
Try extrapolating that "annually" and see what happens. If the math is too hard, take a ruler and hold it to your screen with this chart:



(dont forget ~70BTC bottom which is the point where your divs hit zero)

Ive been telling you what would happen to peta since peta traded around 0.08. You already lost your money by ignoring me.
And you will continue to lose what tiny bit there is still to be had in the bid book by ignoring simple logic and arithmetic.