Strangely enough Puppet arrived on this thread just after the last IPO... I have always wonder if Puppet was not Cryptex himself doing everything he can to make the price fall! Would make sense to be honest sell shares at 0.009 buy them back at 0.0001/6...
You dont have to be cryptx to do that. Besides, dont just look at the price, look at the depth and spread. You could sell your shares for 0.0001, but you couldnt buy any, lowest ask was like 4x that. And what you could buy for a low price was worth next to nothing. The depth just isnt there. You cant daytrade this like you can cex.io.
Plus who is still buying those shares at 0.0006, what do they know?
You mean, what
dont they know. Didnt you buy shares at 5 or 10x more? Did you know something I didnt, or was it more a case of you
not knowing or believing?
How come so many shares where sold at 0.0001,
How many? I thought it was like a few 100. That doesnt even buy you a beer. If I had any shares, I might do it for the heck of it.
then the price rebound to 0.0004 the day before the announcement?
Again, that would have costed anyone just 0.0004 btc to make that happen. Ive seen it often someone buying just one or a few shares when there is a large spread between bid and ask, to drive up the apparent value. I even coined a term for it; usagiing. Long time members may understand that joke.
why reduce hosting costs just after we hit 0% div?
Is that still not obvious to you?
Why did Cryptx gave no news for weeks before that?
Seems to me that was all orchestrated in order for Cryptx to buy cheap shares..
.
Do the math, see how much cryptx earns by doing nothing. Compare that to what you might be able to make daytrading a security with such low depth and large spread. If its even possible to come out ahead (which I seriously doubt), its simply not worth it for him. And if somehow it would, he'd have far better ways to influence the price than me stating the glaringly obvious and teaching long divisions.
Cryptx said we have the flexibility to sell hardware and buy new one for cheaper with better consumption cost. He said we are building relationship with ASIC builder so in the future we would get good deal... Why did we not start to sell slowly weeks ago? Why did he fell to mention that he will keep reinvestment at 0% for ever?
Cryptx did sell some hardware a few months ago. The price he got for it was laughable, often less than half what was considered market value back then (not only that, he managed to send out a shitload of broken miners or badly packaged one's, ruining his reputation in that arena as well. Check out his untrusted feedback).
As for his relationship with asic manufacturers; afaik thats true. He has an investment in both Cointerra and Bitmine. Two shining examples of companies that deliver on spec and on time
. If you think you'd have been better off had he reinvested dividends in buying more delayed / undelivered / under spec / overpriced hardware, I have some cloudmining to sell to you.
This security was not a bad deal if you invested early on, nerveless Peta is today 100% a scam. New Buyer be aware!
You got that backwards entirely. Cryptx was hugely overpriced at IPO, today its much closer to fair value, though still far from a smart investment. It could have been had he auctioned off his mine. I wouldnt call it a scam though. For the most part, cryptx has lived up to his end of the bargain. He just managed to sell that for an idiotic price, just like all the other cloudmining companies. That doesnt make it a scam, its just taking advantage of clueless investors.
