Note:
The PETAMINE fund is now closed due to popular vote and has turned into the SPECULATE token fund. See this thread: http://letstalkbitcoin.com/forum/post/petavote-result-new-token-bootstrapping-discussion
Original Thread:
Hey everyone
Introducing a new dividend paying asset built with CounterParty - PETAMINE , which is a pass-through investment fund for PetaMine shares on Havelock Investments.
Full disclosure: This is not officially run or endorsed (or involved with in any other way) with the actual PetaMine company, CryptX, Havelock Investments or The Panama Fund. The PETAMINE counterparty asset is issued and managed solely by me personally, at least for the time being.
A quick blurb on what PetaMine is:
PetaMine is a hosted mining project with current capacity of 1150 TH/s of hashing power. Each unit represents 1 GH/S of mining power with daily dividend payout.
Core hardware for the mine are the 28nm chip units from Cointerra and Bitmine and optimized chip from BitFury. These devices have outstanding specifications when it comes to power consumption and hashing power,which, in turn, means CryptX will be able to keep power and hosting costs at a minimum ($0.15 per GH per month).
More details here: https://www.havelockinvestments.com/fund.php?symbol=PETA
The deal / how it works
Every day, PetaMine (via Havelock) pays out dividends based on our current share holdings (1 share is about the equivalent of 1 GH/s hashing power). 48% of this daily dividend is used to reinvest and buy more shares and 2% goes to me personally as my fund management fee. The other 50% is saved towards a weekly payout to each holder of PETAMINE tokens. Due to the daily reinvestment, this means that over time, each PETAMINE token will represent more and more hashing power. (you may note that PetaMine themselves used to do a 50% daily reinvestment strategy, but have recently switched to paying out 100% of profits and letting each user decide their own reinvestment)
Every saturday, dividends collected during the week are paid out to each PETAMINE holder. Payments are made via XBTC, which is another counterparty asset convertible 1:1 with regular BTC, and also allows for easier trades on the decentralized asset exchange. For more information on XBTC, see here: https://forums.counterparty.co/index.php/topic,404.0.html
All BTC that is invested goes directly to purchasing new shares from Havelock. When new shares are purchased from direct investment, new PETAMINE tokens are issued and sent out.
Daily reinvestment strategy is subject to change via popular vote by existing investors.
Ok, so how do I get started?
- (If you haven't already) Sign up for a free CounterParty compatible wallet over at https://counterwallet.co . Fund your new wallet with BTC
- Send any amount of BTC or XBTC to the following address: 1CnYNtAztVEqNB8fYiUpX7qRUaCHjaTqp5
- Within 24 hours (transactions are processed manually currently) you will receive PETAMINE tokens back to your wallet based on the current PetaMine/BTC exchange rate on Havelock at the time it was received.
- Enjoy your weekly dividends!
Fund Information/Stats
- Counterparty Asset: PETAMINE (http://blockscan.com/assetInfo.aspx?q=PETAMINE )
- Havelock trading symbol: PETA (https://www.havelockinvestments.com/fund.php?symbol=PETA )
- Havelock shares owned by fund: 2,113
- PETAMINE tokens in existence: 18,218.4
- Direct Investment: 10 PETAMINE = 1 PETA (havelock)
- Actual Value: 10 PETAMINE = 1.159 PETA (havelock)
- Current PETA/BTC price: 0.00061 BTC (2014-09-23)
- Estimated Weekly Growth (re-investment): 70 shares (havelock)
- Estimated Weekly Dividend (after re-investment): 0.00000230 / PETAMINE
- Last dividend paid: 0.0412 (0.00000226 / share)
- Daily Dividend Report: https://docs.google.com/spreadsheets/d/1Q64x5s_xwJytDPHfwbZtnuuxFB96mXzSDaqIY1W0BY0
These numbers will be regularly updated as time goes on. Dividend history is available on blockscan.com
Questions/concerns? Let me know.
