Topic: [HAVELOCK] SCRYPT 4 GH/s hosted scrypt mining project by CRYPTX - page 17. (Read 63945 times)

How can we get an extra 33% of power and dividends still decrease by 20%?  did we really lose over 50% of value on btc/ltc price and difficulty change in one week?  or did we not get everything deployed?

Even just half a week hashing seems like that was a pretty big decrease.

hv u seen ltc - its at damn 7.60USD??!!

I never in a million years thought ltc value would slump so bad, and so has the dividend. what we need guys is LTC to rocket like it is supossed to and for all parties to do well from it
dividend wise the peta mine has done good and people had plenty opportunity to sell shares at a good profit

the dividend has surely affected the share price and people selling, then the LTC/BTC ratio, there is still a glimmer that at bottom, things will only improve and share price. But, for anyone who invested a lot it seems a bit hairy right now, thats for damn sure

wrong. both projects were advertised as either "cryptx has pre orders" / "hardware is already shipped".
cryptx knew what he was doing.

So yeah, as soon on the peta thread someone started suggesting a road trip to Belgium, pictures appeared.
As soon as someone provided mathematical evidence of the point of failures of peta, Cryptx disappears and halts communication.
Shareprice falls to unacceptable levels, Cryptx doesn't gice a shit about it. They already got their money and profit is there until mining pays for fees. After that, liquidation and (maybe) start again.
fuck fuck fuck. I was not on their precious project and I blame only myself for not having done some due diligence and study why the hell their previous didn't work.

Someone suggested me to sue them. Not sure on what legal basis, but fuck yeah. let's give the case to a lawyer and see what comes out. Worse case scenario we throw away 5k for nothing. Compared to the hundreds of thousands lost by everyone, it is really nothing.

Anyone has a good contact in Belgium or around there? Maybe a bitcoin enthusiast lawyer?

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/LTC mined during testing should belong to the customers and this BTC/LTC 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/LTC 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/LTC to pay for themselves, let alone provide for profits, means that the current BTC/LTC mining model is a losing proposition for investors.

Do not base the current BTC/LTC mining situation on what happened in the past!!  The easy mining days are over.

Not heading anywhere but down fellas

This really, really sucks!  Gotta say, I'm seriously disappointed with lack of communication by cryptx and crew.  But after giving it some serious thought, I came to the conclusion that the reason communication is so freaking terrible from the cryptx camp is because any news they could/would deliver would simply wake more people up faster to this dual-disaster (for investors anyway).

i am gonna wait the long haul, best option right now. or i cud crash the market myself and buy back, mmmrrrrrroaahh

So who's looking to palm off 1000 shares here? Say around the 0.008 range?

No d00d,


The pain you feel now is good pain--it is the pain that tells you to stop sperging and pull your hand out of the fire.  Listen to it.
The salt I rub in your wound is the Narcan to the morphia of ignorance.  It keeps the pain alive, reminding you to listen to your betters and stop the disgusting cycle of buttrape you call "investing."
I don't even expect you to thank me

Fuck you dude, you're not even sorry. You just come here to rub salt in the wound.

 

What a disaster...

They reinvest in shitty overpriced miner...

Exactly.

same here, so pissed. thought it would go same as the PETA mine and here we are stuck until things improve. Wish i had bought in now

Sorry.

Crappy. Even wanting to take the loss and get out, not enough buy orders to cover my sell.
There goes the money I needed for the first deposit to buy my apartment... and I thought to get a fast in - fast out type of operation.
Havelock doesn't disappoint... another shitty product where I lost money.
Man, I'm so pissed at myself, you have no clue.

How's it goin'?

Dividends for today to be... 0.00022?

no news on the new hashing power?

Looking at the charts thats what I thought @ 0.014ish. There are no signs of a bottom at the moment

lol, longterm project it will be

looking at the charts posted above, the LTC is probably bottom now, so with any luck, this will only get better.
god damn hope so.

The LTC/BTC ratio will continue to widen as more scrypt asics come on the market. Those individuals and multipools that are converting ltc,ftc,etc into btc are creating huge sell walls on exchanges and are depressing the price. I am mining on ghashs multipool and am averaging 20% over mining ltc directly.

The only way to close the gap on btc/ltc is for 1 or both of the following to happen. 1) BTC/Fiat starts declining. 2) A lot of money needs to flow into LTC to bring the price back up.

Put on your seatbelts folks, its going to a bumpy ride.