Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 50. (Read 565829 times)

This would be my guess.

Sheesh...can't even dump my shares at this price...guess I'm not the only one waking up to the grim reality.  Looks like your words are being heard mister Puppet.

Or switching to p2pool

https://i.imgur.com/lhUdKSJ.png

Petamine halting operations and selling all equipment due to in inprofitability?

Lets assume he does. Lets say he cuts his fees to 50 BTC per week for some reason. Then what? After the next adjustment due in less than 2 days, you would mine  240 BTC per week  - 50 BTC fee / 2 =  95  BTC
95 / 77492 = 0,001225 BTC/ share and that will still be the highest dividend you'll ever see again. Even assuming my hopelessly optimistic <7% per week network growth, the sum of all divs would not exceed 0.015 BTC and if you include naively optimistic reinvestment, ~0.017.

If you assume the fee constant, and apply slightly less idiotic low difficulty growth assumptions, this is what it reality looks more like:



Difficulty assumptions used for the above:



Whoever is still buying this at > 0.02 BTC/share is plain delusional and whoever is buying this above 0.01 at the very least extremely optimistic.

Working here...for now.

Edit: not working anymore :/

Just me or is Havelock buggin...?

He could certainly at least throw a bone by lowering hosting fee's (yes I'll keep harping this point) but that's about as likely as Santa delivering 25% more hashing power out of thin air.  This really bums me out I have to say.

And who would pay for that? Santa ?Even if he does, it will do nothing more than compensate for one single difficulty adjustment or stretch dividends by ~10 days.  It changes nothing fundamentally and of course, its not gonna happen.

Adding ~25% to the mining power would be a great start..

I was kidding.

Puppet, while I don't like your ''bully'' approach, I appreciate all the feedback / TAs you provided.
I managed to turn this mess into a profit and I feel that while you may be slightly annoying at times, you contributed to my success.

Have a nice weekend ++

Like what.. Cryptx announce it will hardfork bitcoin and ignore difficulty from now on so investors can be made whole in crytpxcoins?

But hey, not all is lost, next difficulty adjustment estimate is sliding again. Right now its "only" 16,840,874,267 (+25.09%). At that difficulty you will mine 240 BTC per week, good for (240-73) /2 = 83.5 BTC per week or 0,001077 per share. Thats way up from my previous 0,001000 estimate (even if still way below what I used in my simulations)

June 27th, 2014 - Details about this week’s dividend payout:
294.78042778 BTC in total from mining and converted NMC’s

- 110.72919694 BTC as dividend (0.00142891 BTC/share)
- 110.72919694 BTC as payment for hardware (427.621621 BTC remaining)
- 73.32203390 BTC as hosting fee

More info about the vote to p2pool will follow soon.

Ha...ole puppet was off by at least a good 1000 satoshi's!!  Somehow not making me feel all that much better.  Guess we'll see shortly if cryptx steps in with some sort of ground-breaking news...otherwise I think the long-term viability of this asset is pretty much shot.

Incoming? Lol, it hasnt even properly burst yet.

Cryptx investor checks latest dividend:

Bubble incoming

Anyone here good at TA?

Looks like 110.7 BTC for dividends or 0,00141 per share.  

https://blockchain.info/address/1PETAmNrgdzx3FwzJPNuhx18JVKdGtwWt6

Next week looks like ~80-90BTC or ~0,0011 per share. Free fall speed would be too mild a term.

I consider Bitcoin itself a risky but potentially very lucrative investment that makes sense.

Im not aware of any bitcoin investments that Id call good. And that should surprise no one, there are millions of bitcoins in wallets with owners looking to grow their stash and willing to invest in anything that moves, and there is precious little available for the public to invest in. That alone drives up prices, creates bubbles, with no way to short sell them to deflate the bubbles and should make you think twice.

Here  is the kicker though, no matter how wise everyone would invest, the bitcoin economy does not create more bitcoins, other than the ones that are mined, and those are mined anyhow. So it should be clear that on average, no one wins. The overall gain is in the increase of the value of the bitcoins themselves.  Add to that the fact that a large portion of these "investment opportunities" are plain scams, and therefore profitable for the scammer, and its mathematical certainty that the average investor will make a BTC denominated loss. This is very different from the fiat economy, where new money is actually created through good investments, and the loss is the  devaluation of the currency for everyone who keeps theirs under their mattress.

TL:DR: invest your fiat in whatever fiat denominated asset you think makes sense or invest in bitcoins that you keep in cold storage. Trying to do both by investing in bitcoin securities, generally is stupid. Just ask yourself: where would your BTC denominated profit come from? Who is paying for it? Unlike fiat, bitcoins can not be created from thin air and your profit is not gonna come from my cold wallet either.

Thanks,
some figures as I am actually invested there:

Overall Hosting rate of 6.54% of the mined total.


Total mined: 221.88 btc
Hosting: 14.51 btc
Reinvestment: 124.42 btc
Dividends until now: 82.95 btc

Dividend rate ~stable at 36/37% of mined (or ~1.5% of current value).

All variables of PETA applies here, with on top of those also the exchange rate of Altcoins into BTC...
So, everything and the opposite of everything can still happen.

Date                   Dividend
16/05/2014   0,000572957
23/05/2014   0,000576377
30/05/2014   0,000539549
06/06/2014   0,000408045
13/06/2014   0,000344046
20/06/2014   0,000376753