Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 66. (Read 565829 times)

You mean for cryptx, the issuer ? No problem at all. He's sitting pretty, he doesnt even hold any shares himself. All he does is collect hosting/mgt fees that do not decrease with difficulty.


Again, if you mean Bert, sure. He is taking zero risk. But as an asset holder, you are not buying in to the company, you are buying a mining bond that entitles you to 15GH per share (minus that loan, minus fees).


Zero. I guess you didnt read this thread. I would however, love to short this.

Yes, and you used it as an insult (I have a reading age of above 5 years old, you can insult someone with a proverb..)


And they have raised 1366.185 in public offerings that they never have to pay off.  Where is the problem?  They could pay off the loan (who would though if you have already accounted for it) without much issue, NEVER add capacity ever again and still turn a weekly profit.

Can I ask, how much did you buy in for?  If you bought in IPO you should be sitting pretty right now.  If you bought in at .095 you picked a very bad point and I can understand what your issue is.

Neil

Cryptx could easily purchase these AM chips and build boards using them for future reinvestments.

So you are saying AM will not be able to sell hardware that consumes ~1W/GH at the wall and costs them less than 0.3 BTC per TH at the chip level because no one will want that. Yet you think its a good idea to buy shares that represents nearly 6BTC/TH and with electricity cost that are nearly 10x higher than any AM/Antminer/CT/whatever miner run in iceland or washington dc ?

Think that through..

If you think that those chips won't sell you are delusional.

I'm sorry but AM isn't shipping 60-100PH in the next week. They won't do it in the next 2-3 months either. Nobody will buy 60-100PH worth of inefficient miners.

  Its a proverb.

Mining tends to be bad enough, but this is worse. Buying cryptx right now is the equivalent of buying hardware @ 5.7 BTC/TH if you include the 670BTC remaining loan. Even an antminer S2 costs ~3 BTC/TH and is considered overpriced by many, and at least can be hosted somewhere with far lower electricity costs than peta.


The prefinanced stuff has to be paid back through witholding dividends. As a result for the next (most crucial) 2 to 3 months, half the dividends are going to the issuer to repay the loan, and nothing is left for reinvestment. As for reselling less efficient hardware, the last IPO price represented 6.5BTC/TH. When cryptx auctioned off some hardware to replace with more efficient gear, he got 1.6-1.7 BTC/TH not even a month later.

ANyway, to the "+10" posters; why are you not taking me up on my offer? If you think holding cryptx is wise, clearly my offer is 10% better.

Thanks for the welcome, I am glad you like MinePeon, I hope you donate .

This thread has been an education and I am glad to know there are people out here like you (I knew there must be, most of the shares have been sold at .05 it seems, those people are raking it in, early adaptor advantage and all).  It does seem though that like bitcoin a pile of people bought in at max value of about 0.8 ($1200 for bitcoin) and had their fingers burnt and are in this thread to complain. I don't like to blame victims but surely they should have read a bit before they jumped in.

Anyway, I am only here because someone half jokingly (I hope) said that I should use my contacts with ASIC manufacturers and do an IPO.  The math is simple enough and it is quite doable (as a business case), but securities scare me and there is too much I don't understand like;-

WTF is up with PETA's order book?  I have trouble believing that people eat that much FUD in this tread to effect it that badly.

Neil

P.S. I wish I bought a pile at 0.05 like you, but hindsight is 20/20

+00

+1 +1 +1 +1

+1 +1 +1 exactly!
another week, another excellent dividend reinvested in a few more shares.
J

Fud.fud.fud.dividend.fud.fud.fud.dividend
This is going to continue until there is no day trading opportunity

Uncertainty keeps killing any walls anyone puts up

@MineForeman.com Welcome to the PETA thread! Minepeon is a godsend, I rely on it for many things -- and I barely understand linux, but am able to use it anyway. Thanks a lot for that! It is a truly super tool.

I can't predict the future. I haven't crunched this week's numbers. Past performance is not a predictor of future success. And I'm definitely not offering investment advice.

But, for the record, Peta-Mine has been a very solid investment for me. I bought in ~9 months ago, at .065/share, and a bit more at .05/share. Share price has been pretty stable during most of that time. At the moment, we are still trading above those numbers, so I could easily sell for a profit. In addition, dividends during that time have been something like ~50% of those IPO values. So... fantastic investment, by any measure.

Nonetheless, every time I come to this thread it is clogged with sky-is-falling, OMG-you-people-are-idiots, this-is-such-scam FUD. And every Friday I make some more profit, just by holding.

Just saying.

Mildly insulting, there is no real need for that.


You have nicely outlined the downsides to mining, and yeah, as a miner I am aware that is fully part of the game but what about the mining hardware about to hit the peta network?  I mean if you read the updates page on;-

https://www.havelockinvestments.com/fund.php?symbol=PETA

A good chunk of the weekly "profit", as well as some pre-financed stuff in addition to sales of older less efficient hardware that was sold is going into new gear.  You say Cryptx is reputable but is this a pack of lies?

Neil

Did you mistype or actually mean that you think this is a wildly good investment compared non bitcoin securities?
If you meant to say compared to your average bitcoin security (70% of which are scams, 29% mining bonds which always loose and 1% that may be worth something), then Id agree. Of course the prettiest of all piles of poo is still a pile of poo.


Physical assets that depreciate much faster than snow melts in the sahara and dividends that are function of difficulty. Have you looked at difficulty or network hashrate charts recently? Yesterday difficulty went up 14.5%  and  its currently projected to increase >18% in 11 days. That means dividends go down by the same amount, and your physical assets depreciate by about  as much, and this is even before the big onslaught; Asicminer based rigs start shipping this or next week, good for a total of 60-100PH (!). Antminer starts shipping its 28nm S3 next week. KnC starts shipping and probably deploying its 20nm this week. Heck, even BFL may finally begin deploying some Monarchs this week, and then there is my hunch that a 28nm Bitfury is just around the corner.

Look, I shouldnt be saying this and talk you in to accepting my short, but honestly, its like taking candy from a baby.

Cryptx is not a scam, its run fairly professionally and to my knowledge honestly (even if in blatant violation of regulations), but its just another mining bond, and one based on hugely overpriced hardware (nearly 5BTC/TH) with very high electricity/hosting fees and a loan that needs to be paid back for the next 2, possibly 3 months. Even if it was a good mining bond,  to my knowledge no mining bond ever has produced a positive BTC denominated ROI over its lifetime, or even come close.  When cryptx  has dropped to around 0.025-0.035, then consider picking up some shares and pray reinvestment is either scaled back or done far more competitively then until now. But right now, you'd be nuts to buy. But hey, if you disagree, striking a deal with me will at least be slightly less nuts, to the tune of ~10% less nuts

Thanks for the offer and I may get back to you.  Like I said though, I am too much of a coward to move quickly (if at all).  There are so many factors involved in these things and I don't understand half of them yet.

On the surface (assuming peta or havlock or both are not scams) it looks like a wildly good investment compared to your standard (non bitcoin) security.  I mean, they do weekly dividends and have physical assets.  Add to that, the order book is very oddly slanted to one side, it looks to me that it is going to crash and then someone is going to pick up a bundle at a low factor of the dividend.

My fears are that it is too good to be true, I know that Havlock has supposedly audited them (in some way) and the physical assets are actually real (as in you can touch them) but the order book is so one sided I cannot help but suspect that there is a fish in there somewhere.  I mean, I cannot believe that everyone not holing the security cannot see the opportunity... so it scares me and makes me think something else is going on and I am just not privy to the information.  (Or bitcoiners are really stupid and believe FUD on face value... totally a possibility... Pirateat40 AKA Pirate AKA Trendon Shavers anyone?)

Neil

Sheesh...seeing the lack of buy depth represented in the above graph isn't exactly inspiring confidence.  Honestly, I'm a little surprised there isn't a whole heck of a lot more price manipulation taking place by some of the larger shareholders.  Wouldn't take much for one of them to decimate the price so significantly that all of us little fish could easily be forced out.

Add to that no new hash added to cryptx network for sometime and not digging this situation much

Ive been around (far) longer than any bitcoin security exchange. But for those that dont know or trust me, as mentioned, im open to using escrow or multisig transactions with a third party arbiter. Id say thats a lot safer than relying on some Panamese company thats breaking security regulations all over the world.

So he doesn't want to rely on the Havelock exchange, but should rely on transferring the BTC to a stranger? Right.