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Topic: [HAVELOCK] SCRYPT 4 GH/s hosted scrypt mining project by CRYPTX - page 13. (Read 63943 times)

hero member
Activity: 574
Merit: 500
I only have 43 shares lol
smackdown has what 6000 shares?

for your comment above smackdown, they reinvestment fund is less then 100 BTC
why would scryptx buy back the shares when they can keep milking it until the hosting costs take over

how much is the hardware worth if they sold it all right now just curious
member
Activity: 91
Merit: 10
They must hv raised 1200BTC for the project and every week they earn half or they have many BTCs for re-investment, so they must be sitting on enough BTC to pay everyone back. I dont believe 1200BTC spent on scrypt mining could turn out this shit.
sr. member
Activity: 241
Merit: 250
If crypt x cant give the market or project confidence and ensure a good share price. Then they should buy back at IPO price and keep the mine 100% for themselves. Robbing peoples money or doing well and not caring if anyone else does. Is BULL CRAP. Totally.

Sorry, Cryptx didn't give the market and project enough confidence and didn't ensure a good share price.
It didn't work out. It's done.

How to recover from here? It's either buying back at IPO price, or trying to increase the share price to a decent level. Apparently they are not willing to do either of the two.

Rather that sending them a nice polite email request, maybe we should hire a lawyer in Belgium instead... or maybe not...
However, I'm sure they can demonstrate that the initial income from IPO sell was "correctly" invested as advertised in their prospectus and that in the same document they are clearly stating the nature of the project and the risk liability. So most likely we won't have a case to get anything back. Also, assuming they spent the IPO money to purchase units and spent the weekly fees for electricity costs and management of the data warehouse (including all costs), they would not have the funds to buy back anything. So, the lawyer option would not work. Best case scenario they close down their activity, liquidate all assets and pay creditors first. Whatever is left, to shareholders. And I assume that "left" is not going to be much.

Using the reinvestment fund to buy back shares on havelock, instead, would still be a good option to actually create buy walls for who ever wants to liquidate and leave, while also preventing the price to fall further down. If they re-purchase option goes well, there will be less shares circulating, more dividends and the buy walls will generate a sense of a "good product", maybe generating some demand that will increase the shareprice.

Also, we can discuss how much we want in here, but it all ends up in each individual share power. If the majority of this forum decides for an option, but accounts for 10% of the shares, we won't go much further. So maybe it's time to play open cards and know who has how much.

Happy to go first. 8.68%

member
Activity: 91
Merit: 10
If crypt x cant give the market or project confidence and ensure a good share price. Then they should buy back at IPO price and keep the mine 100% for themselves. Robbing peoples money or doing well and not caring if anyone else does. Is BULL CRAP. Totally.
hero member
Activity: 952
Merit: 515
Quote
Dear CryptX Team,

as you might already read in the SCRYPT Thread there is a lot discussion regarding the way you manage the Project. You as the Hoster/Share issuer are responsible for your investors so please do not ignore us. Happy Investors will spread positive word of mouth anywhere which results in a Win situation for you too.

With that official mail we would like to get your attention concerning our situation which is currently not reallly good.

Suggestions were made as follows:

(1) let the Shareholder decide which Hardware should be bought witht he reinvestment Fund

(2) write at least one update per week in the BTC-talk Thread. Further plans, current LTC rate, how many LTC were mined...etc.. pp

(3)  a Possible BUY BACK until IPO Price (perhaps also IPO price - 10%)  with the current Reinvestment Fund.

(4) Choosing of a more profitable Multi Pool than now (nice-hash e.g.)

Thanks in advance
Cheers

That is the Mail i wanted to send.  Please correct anything if there is something wrong. (grammer, content) and also feel free to add other suggestions.  I will send the Email in the next 2 days.

Thanks

I've got a qualm with #1 and #3, though nothing major (and I'm happy to hear counter-arguments).
For #1, letting shareholders decide which hardware should be purchased isn't necessarily helpful. We can choose the fastest hardware on the market, but if Cryptx can't get a discount on them, then what's the point? Instead, I'd push for more of a combined effort, where Cryptx mentions who their primary partners are, and from there we can see if anyone else can beat their 'value' per MH/s (including price, efficiency, and speed).

For #3, a buyback using the reinvestment fund kills any chance this fund has of growing (how are we going to purchase hardware if all the money was spent on buybacks). This would just result in a [very] short-term gain as dividends would be higher (given there are less outstanding shares).

Other than that, I like the basic underlying content, but I think it should be fleshed out quite a bit more. I reworded the message a bit, but the overall substance is more or less the same:

Quote from: Korbman
Dear CryptX Team,

There has been quite a bit of discussion on the BitcoinTalk forums regarding Scrypt-X and its potential. Unfortunately we, the investors, are finding it difficult to have our voices heard as it doesn't appear you frequent the forums any longer.

Given the volatile nature of some active members, this is understandable, but we’d still love for you to communicate with us nonetheless. I trust you’re already aware of the unparalleled value active communication and professionalism can add to a developing asset. As a bonus, contented investors are more than willing to market your funds and skills; a positive situation for all involved parties. We just need a reason to go this route.

With this in mind, we wanted to bring your attention to several suggestions that have been posed so far, and with your guidance may help revive Scrypt-X to the growing asset it once was.

(1)   Communicate with investors at least once a week on the current status of the fund, including any upcoming plans or ideas to help expand the mining capacity. Doing this will bring some much needed insight to both current and potential investors. This doesn't have to be on the BitcoinTalk forums either. If a dedicated, active, and informative blog can be created on the Cryptx website, we’d be more than overjoyed with the update.

(2)   Include more detail in the financial statements, such as which coins were mined, what was their conversion rate to Bitcoin, how much electricity was used during the last period, etc. The more detail that can be provided, the better. There may be cases where investors know where to exchange coins for a lower fee.

(3)   Select a multi-mining pool that is more profitable, if one is available. It may be best to utilize a website such as PoolPicker (http://poolpicker.eu/text?algo=scrypt) to determine which pool provides the best payout per MH/s.

(4)   List hardware manufacturers that have offered discounted prices (if possible) and include details on the hardware that would be purchased. In some cases, investors may know of another manufacturer who can provide better hardware for a similar price, or the same hardware at a greater discount. This also allows the manufacturers to see what their competitors are offering. Increased competition will help drive better deals in the future.

As always, we appreciate your willingness to hear our concerns, and we hope our suggestions can generate a positive effect on the overall health of Scrypt-X.

Thanks in advance



100% Agree.  In my opinion Buyback makes no sense. So I am against (3) of Alexius.

Cheers!
legendary
Activity: 1064
Merit: 1001
Quote
Dear CryptX Team,

as you might already read in the SCRYPT Thread there is a lot discussion regarding the way you manage the Project. You as the Hoster/Share issuer are responsible for your investors so please do not ignore us. Happy Investors will spread positive word of mouth anywhere which results in a Win situation for you too.

With that official mail we would like to get your attention concerning our situation which is currently not reallly good.

Suggestions were made as follows:

(1) let the Shareholder decide which Hardware should be bought witht he reinvestment Fund

(2) write at least one update per week in the BTC-talk Thread. Further plans, current LTC rate, how many LTC were mined...etc.. pp

(3)  a Possible BUY BACK until IPO Price (perhaps also IPO price - 10%)  with the current Reinvestment Fund.

(4) Choosing of a more profitable Multi Pool than now (nice-hash e.g.)

Thanks in advance
Cheers

That is the Mail i wanted to send.  Please correct anything if there is something wrong. (grammer, content) and also feel free to add other suggestions.  I will send the Email in the next 2 days.

Thanks

I've got a qualm with #1 and #3, though nothing major (and I'm happy to hear counter-arguments).
For #1, letting shareholders decide which hardware should be purchased isn't necessarily helpful. We can choose the fastest hardware on the market, but if Cryptx can't get a discount on them, then what's the point? Instead, I'd push for more of a combined effort, where Cryptx mentions who their primary partners are, and from there we can see if anyone else can beat their 'value' per MH/s (including price, efficiency, and speed).

For #3, a buyback using the reinvestment fund kills any chance this fund has of growing (how are we going to purchase hardware if all the money was spent on buybacks). This would just result in a [very] short-term gain as dividends would be higher (given there are less outstanding shares).

Other than that, I like the basic underlying content, but I think it should be fleshed out quite a bit more. I reworded the message a bit, but the overall substance is more or less the same:

Quote from: Korbman
Dear CryptX Team,

There has been quite a bit of discussion on the BitcoinTalk forums regarding Scrypt-X and its potential. Unfortunately we, the investors, are finding it difficult to have our voices heard as it doesn't appear you frequent the forums any longer.

Given the volatile nature of some active members, this is understandable, but we’d still love for you to communicate with us nonetheless. I trust you’re already aware of the unparalleled value active communication and professionalism can add to a developing asset. As a bonus, contented investors are more than willing to market your funds and skills; a positive situation for all involved parties. We just need a reason to go this route.

With this in mind, we wanted to bring your attention to several suggestions that have been posed so far, and with your guidance may help revive Scrypt-X to the growing asset it once was.

(1)   Communicate with investors at least once a week on the current status of the fund, including any upcoming plans or ideas to help expand the mining capacity. Doing this will bring some much needed insight to both current and potential investors. This doesn't have to be on the BitcoinTalk forums either. If a dedicated, active, and informative blog can be created on the Cryptx website, we’d be more than overjoyed with the update.

(2)   Include more detail in the financial statements, such as which coins were mined, what was their conversion rate to Bitcoin, how much electricity was used during the last period, etc. The more detail that can be provided, the better. There may be cases where investors know where to exchange coins for a lower fee.

(3)   Select a multi-mining pool that is more profitable, if one is available. It may be best to utilize a website such as PoolPicker (http://poolpicker.eu/text?algo=scrypt) to determine which pool provides the best payout per MH/s.

(4)   List hardware manufacturers that have offered discounted prices (if possible) and include details on the hardware that would be purchased. In some cases, investors may know of another manufacturer who can provide better hardware for a similar price, or the same hardware at a greater discount. This also allows the manufacturers to see what their competitors are offering. Increased competition will help drive better deals in the future.

As always, we appreciate your willingness to hear our concerns, and we hope our suggestions can generate a positive effect on the overall health of Scrypt-X.

Thanks in advance

sr. member
Activity: 241
Merit: 250
Quote
Dear CryptX Team,

as you might already read in the SCRYPT Thread there is a lot discussion regarding the way you manage the Project. You as the Hoster/Share issuer are responsible for your investors so please do not ignore us. Happy Investors will spread positive word of mouth anywhere which results in a Win situation for you too.

With that official mail we would like to get your attention concerning our situation which is currently not reallly good.

Suggestions were made as follows:

(1) let the Shareholder decide which Hardware should be bought witht he reinvestment Fund

(2) write at least one update per week in the BTC-talk Thread. Further plans, current LTC rate, how many LTC were mined...etc.. pp

(3)  a Possible BUY BACK until IPO Price (perhaps also IPO price - 10%)  with the current Reinvestment Fund.

(4) Choosing of a more profitable Multi Pool than now (nice-hash e.g.)

Thanks in advance
Cheers

That is the Mail i wanted to send.  Please correct anything if there is something wrong. (grammer, content) and also feel free to add other suggestions.  I will send the Email in the next 2 days.

Thanks

I agree on 2,3,4, but on 1, I would change it "let the ShareholderS decide what to do with the reinvestment fund EACH WEEK"
hero member
Activity: 709
Merit: 500
Gridcoin Foundation
Quote
Dear CryptX Team,

as you might already read in the SCRYPT Thread there is a lot discussion regarding the way you manage the Project. You as the Hoster/Share issuer are responsible for your investors so please do not ignore us. Happy Investors will spread positive word of mouth anywhere which results in a Win situation for you too.

With that official mail we would like to get your attention concerning our situation which is currently not reallly good.

Suggestions were made as follows:

(1) let the Shareholder decide which Hardware should be bought witht he reinvestment Fund

(2) write at least one update per week in the BTC-talk Thread. Further plans, current LTC rate, how many LTC were mined...etc.. pp

(3)  a Possible BUY BACK until IPO Price (perhaps also IPO price - 10%)  with the current Reinvestment Fund.

(4) Choosing of a more profitable Multi Pool than now (nice-hash e.g.)

Thanks in advance
Cheers

That is the Mail i wanted to send.  Please correct anything if there is something wrong. (grammer, content) and also feel free to add other suggestions.  I will send the Email in the next 2 days.

Thanks
newbie
Activity: 42
Merit: 0
Yeah I hope they buy back our shares at IPO price minus 10-20%. They would still make huge profit even with this
sr. member
Activity: 241
Merit: 250
If Cryptx would buy back at IPO -10% -all dividends paid until now, I would be so happy.
Even -20%.

I'm losing 85% right now... with no chance to sell even with this huge loss. So yes... whatever. But it will not happen.

I still think that the option of using reinvestment to buy back shares each week, is the most profitable for Cryptx and (maybe) for shareholders.
member
Activity: 91
Merit: 10
Just trying to entice them. And yes they have made their money and continue to do so. So yes they should buy back at full IPO price.
legendary
Activity: 1582
Merit: 1000
Well hello there!
buyback at -10%?  Why not at full IPO price rather.  It's not like they haven't been raking in the hosting and admin fee's this whole time!
member
Activity: 91
Merit: 10
People they need guarantee buybacks on any IPO minus say 10% as they hv earnt a lot in BTC using the funds to scrypt mine. So if they hv made their money and continue to so so by buying peoples shares, its still a win situation for them.

That would be good and proper.
member
Activity: 92
Merit: 10
was also based off starting with 10GH online.....they only started with 3GH since IPO did not sell out

Exactly, that's why I divided the weekly div projection by 100,000 instead of by the actual number of shares sold (29,438).
hero member
Activity: 574
Merit: 500
Remember the prospectus?

The projected dividend for the week of 8/7/2014 was 0.0006048. Last week we got 0.0001369. We're only 80% behind!

Ha.
was also based off starting with 10GH online.....they only started with 3GH since IPO did not sell out
member
Activity: 92
Merit: 10
Remember the prospectus?

The projected dividend for the week of 8/7/2014 was 0.0006048. Last week we got 0.0001369. We're only 80% behind!

Ha.
sr. member
Activity: 241
Merit: 250
And the worst thing is. They dont give A SHIT and dont even COMUNICATE here.
They just pop om in the beginning to sell of the hype and get there big fat mining fee.
Thats one thing that became sure the past weeks.


So guys can we make an email to them to get this project a bit back on track? I don't think they will sell us out, as everyone said they want to make profit.

My proposal: Get some people together, make a petition and send it to them.

If we....

  • Make better reinvestments, better $/MHs
  • Take Profitpools instead of LTC

...we can have a 50% increase in Profit over some time. THis is a circle , more profits, more reinvestment etc etc etc.


Anyone in? I can only try to pull the trigger and motivate you guys to help me.

This project is not lost yet if you think 5-12 months from now and the Bitcoin price rises.

Cheers

Christian

Good Plan!
to use more profitable Multi Pools is a major point i think!

=> spending the reinvestment more intelligent is also pretty important. Lets just decide together what to buy for the reinvestment?! (Links to offers, websites are appreciated)

Perhaps its also possible to lower to Hosting & Administration fee a bit. It would have a very positive effect on the longterm run of this project.

By sending a proper Email to the Cryptx Team we want to achieve the following things

(1) Choosing a high profitable Multipool
(2) Better reinvestment decisions with the effort of the investors
(3) a hopefully lower admin/hosting fee

I hope you guys and investors are in and contribute here as well with some activity!

thanks.






+1

+1
full member
Activity: 188
Merit: 100
And the worst thing is. They dont give A SHIT and dont even COMUNICATE here.
They just pop om in the beginning to sell of the hype and get there big fat mining fee.
Thats one thing that became sure the past weeks.


So guys can we make an email to them to get this project a bit back on track? I don't think they will sell us out, as everyone said they want to make profit.

My proposal: Get some people together, make a petition and send it to them.

If we....

  • Make better reinvestments, better $/MHs
  • Take Profitpools instead of LTC

...we can have a 50% increase in Profit over some time. THis is a circle , more profits, more reinvestment etc etc etc.


Anyone in? I can only try to pull the trigger and motivate you guys to help me.

This project is not lost yet if you think 5-12 months from now and the Bitcoin price rises.

Cheers

Christian

Good Plan!
to use more profitable Multi Pools is a major point i think!

=> spending the reinvestment more intelligent is also pretty important. Lets just decide together what to buy for the reinvestment?! (Links to offers, websites are appreciated)

Perhaps its also possible to lower to Hosting & Administration fee a bit. It would have a very positive effect on the longterm run of this project.

By sending a proper Email to the Cryptx Team we want to achieve the following things

(1) Choosing a high profitable Multipool
(2) Better reinvestment decisions with the effort of the investors
(3) a hopefully lower admin/hosting fee

I hope you guys and investors are in and contribute here as well with some activity!

thanks.






+1
hero member
Activity: 952
Merit: 515
Maybe they already use a multipool...

But give you the LTC oupss....the BTC instead...and keep the diff coins...
They show what pool the equipment is pointed ? What hashrate ?

Don't don't even tell us how many LTC are mined since 3 weeks... really shady  Angry

But guys you can complain right now or you can step up and change.

Can everyone who likes Alexius plan quote him with a +1?  Thanks!

Then I can see how many people are active here to make a vote in the future and forward this to ScryptX with some Recommendations for Mining and Reinvestment.
hero member
Activity: 672
Merit: 500
Maybe they already use a multipool...

But give you the LTC oupss....the BTC instead...and keep the diff coins...
They show what pool the equipment is pointed ? What hashrate ?

Don't don't even tell us how many LTC are mined since 3 weeks... really shady  Angry
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