Bitcoin Forum

WARNING: All the evidence points to Virtual Mining Corporation [VMC] and Active Mining [AMC] as being a massive confidence trick /elaborate Scam mess scam from the outset.Trade with extreme caution.

Seeing as though valid posts regarding VMC are being deleted from the official Thread https://bitcointalk.org/index.php?topic=206488.0 by Kenneth Slaughter CEO of VMC (accusations of fraud, misconduct scam accusations regarding products, refunds and ways forward for the company to respond to disputed transactions that point to the company in a truthful light)

We have decided to open up this uncensored version to openly discuss  the merits and disadvantages of dealing with [VMC] Virtual Mining Corporation Discussion

I will continue to expose the underhand dealings of VMC and it's shills and it's sockpuppet accounts on here and reddit until my own money is given back to me or this company is driven into the ground.


Update [May 9 2014]
Of the 31 known Prospector boards ordered from VMC:

15 Delivered are dead on arrival - still waiting for replacement - (computerjesus/ Kodemadge)
4 delivered and working. (2 to bargraphics & 2 to 'unknown user')
5 Delivered - waited 30 days - all  confirmed working (emjay47)
6 ordered by rogerli9 (ordered 2014-04-11) delivered 25 days late
1 orderd by VinceSaimos - took 5 weeks to arrive - working ok.

Refunds:
@Magzy- 2nd Refund check arrived - awaiting clearance at bank.

@metalchain - Still waiting - I sent PM to Ken many times. He always reply to me "We will ~~, ASAP~~~, Quickly~~~, next week~~~"

@cryptoconomist- still waiting  - "Two weeks ago on a Friday I spoke to him again and he  literally promised me he was going to ship my order on the following Monday, but haven't heard from him. Since then, when I log into my account, my initial order has now been moved to "refund" status and my new order to "cancelled" which contradicts what Ken and I discussed.  I wrote so many emails to him and to the Active Mining threads but my posts keep getting deleted"

@meccaflare0 - still waiting "ken owes me like $x"

@greek_hephaestus - unknown  -"Thank you very much Magzy for your suggestion . I will do it in a few days. [contact the AG] First I send one more message to VMC. Thank's again."

@coindesk - http://www.coindesk.com/mining-hardware-companies-miners-roundup/

@lenart_o - I'm waiting for refund [of $10k] since february this year there is no chance to get back my money?? I'm from Poland and I don't have idea how to  get back my money . I was stupid and I was belive in company with no proof now I'm without money

@btcricon - 256 GH/s Module : 1.536TH-1,400 Watts on 2013-09-17 @ VMC (order reference JTICURDUZ) for $18,079.20. I asked multiple times for refund as they are completely unable to deliever. I didn't receive my money back. Will give them one week, then it's up to the police.

Anyone affected by VMC's total incompetence can take court action: http://www.woodlaw.com/cases/virtual-mining-corporation-and-active-mining-corporation




Update [May 1 2014]
Of the 31 known Prospector boards ordered from VMC:

15 Delivered are dead on arrival - still waiting for replacement - (computerjesus/ Kodemadge)
4 delivered and working. (2 to bargraphics & 2 to 'unknown user')
5 Delivered - waited 30 days - 3 DOA,  2  confirmed working (one of these at only 300GH/S) by (emjay47)
6 ordered by rogerli9 (ordered 2014-04-11 - 3 weeks ago) Tracking confirmation - TBA
1 orderd by VinceSaimos - 2.5 weeks ago today - yet to be posted

Refunds:
@Magzy-  still waiting "has been posted"

@metalchain - Still waiting - I sent PM to Ken many times. He always reply to me "We will ~~, ASAP~~~, Quickly~~~, next week~~~"

@cryptoconomist- still waiting  - "Two weeks ago on a Friday I spoke to him again and he  literally promised me he was going to ship my order on the following Monday, but haven't heard from him. Since then, when I log into my account, my initial order has now been moved to "refund" status and my new order to "cancelled" which contradicts what Ken and I discussed.  I wrote so many emails to him and to the Active Mining threads but my posts keep getting deleted"

@meccaflare0 - still waiting "ken owes me like $x"

@greek_hephaestus - unknown  -"Thank you very much Magzy for your suggestion . I will do it in a few days. [contact the AG] First I send one more message to VMC. Thank's again."

@coindesk - http://www.coindesk.com/mining-hardware-companies-miners-roundup/


Update [April 30 2014]
The refund check (Now cancelled)Sent in Feb turned up today.
 postmark confirms it was sent in Feb and the check number confirms with what ken said it was on pm. So I can't blame him for this delay. The replacement check should arrive soon.

If ken could have just communicated this postage it would have avoided a whole rigmarole for the past 2 months.

In any case I unreservedly apologise to ken in light of this check arriving when all the evidence was pointing to a scam.

Update [April 30 2014]
The Missouri securities investigation is for real.
They are also investigating VMC and Ken himself.

Any disgruntled shareholders and customers are encouraged to contact make contact with the MSD to assist in their investigation into Ken.
https://i.imgur.com/MRJiuOB.jpg

Any Customer VMC or shareholder of AMC who has been scammed are encouraged to join the class action Law suit with Woodlaw (the same law firm representing Disgruntled BFL customers): http://www.woodlaw.com/cases/virtual-mining-corporation-and-active-mining-corporation

Ken was given multiple opportunities by everyone to resolve the problems over the past 5 months and he has done nothing but string us all along in this scam.


Update [April 29 2014]
Of the 30 31 known Prospector boards ordered from VMC:

15 Delivered are dead on arrival - still waiting for replacement - (computerjesus/ Kodemadge)
4 didn't get delivered - waiting for 25 30 days (emjay47)
4 delivered and working. (2 to bargraphics & 2 to 'unknown user')
1 Delivered (of 5) waiting for confirmation of working unit - confirmed working by (emjay47)
6 ordered by rogerli9 (ordered 2014-04-11 - 2 weeks ago) not posted - converting to gold rush cards - details(delivery, timings etc) TBA Conversion to gold rush didn't happen because it was "already posted" according to ken. Tracking confirmation - TBA
1 orderd by VinceSaimos - 2 weeks ago today - yet to be posted

Mining farm up to 70TH/s http://eligius.st/~wizkid057/newstats/userstats.php/1DJpsvnM7xTnQbWEhLYyCyfxQyxwupEzCa
maybe this is where all the missing cards are ending up?
 

Update [April 29 2014]
Gold Rush cards 720MH/S on sale on the VMC website. ROI looks good. Lets hope ken can actually get it right. I might even buy one myself if he doesn't screw people over.

Rogerli9 is converting his order (below) to the gold rush card - presumably as compensation for late delivery.

Update [April 26 2014]  - current status of the prospector customers that have made their order status known to me.

Of the 30 known Prospector boards ordered from VMC:

15 Delivered are dead on arrival - still waiting for replacement - (computerjesus/ Kodemadge)
4 didn't get delivered - waiting for 25 days (emjay47)
4 delivered and working. (2 to bargraphics & 2 to 'unknown user')
1 Delivered (of 5) waiting for confirmation of working unit (emjay47)
6 ordered by rogerli9 (ordered 2014-04-11 - 2 weeks ago) not posted - converting to gold rush cards - details(delivery, timings etc) TBA


It's clear to anyone that VMC is royally shafting anyone who crosses the paths with them. Even bargraphics working 2 prospectors are habitually failing:  http://eligius.st/~wizkid057/newstats/userstats.php/1FscNBYzd5CqDzUVQ9YapLQNtLbswkM4NL



Update [April 24 2014]  
Ken has "sent the refund check." He says that he posted one back in Feb that has not been cashed. So he's cancelled it and sent a new one today. I asked for it to be sent recorded delivery but it had already been sent. When I asked him about ask the other refunds from other customers he relented that he bumped me to the top of the list to get me to stfu. I will only stfu once everyone who asked for a refund gets a refund.


Update [April 21 2014]  
Ken Has on PM promised the refund will go out today. I will only believe this once it materialises and I can cash it at my bank... OR BTC refund is given - Pics to follow

Update [April 21 2014]   Computerjesus and Kodemadge are friends and they were talking about the same order I've updated the DOA rate to 60% accordingly.

So, of the 36 25 known boards ordered:

15 Delivered are dead on arrival (computerjesus/ Kodemadge)
4 didn't get delivered (emjay47)
4 delivered and working. (2 to bargraphics & 2 to 'unknown user')
1 Delivered (of 5) waiting for confirmation of working unit (emjay47)
1 12 Delivered Dead On arrival-  (kodemage)


Update [April 21 2014]  
This is Bargraphics mining pool http://eligius.st/~wizkid057/newstats/userstats.php/1FscNBYzd5CqDzUVQ9YapLQNtLbswkM4NL

Note that his 2 prospectors went offline 2 days ago (21-apr-14 @ 18:00)

This is Active Mining: http://eligius.st/~wizkid057/newstats/userstats.php/1DJpsvnM7xTnQbWEhLYyCyfxQyxwupEzCa
Note that their theoretical limit of 50TH/S (given the 75% failure rate) was exceeded to 60TH/S (21-apr-14 @ 21:00)

Is bargraphics lending Active Mining their own cards back to bump up the farm?

note that bargraphics was the first - by 2 weeks to get hold of a prospector from VMC before anyone else - and post pics of it and the setup guide in almost no time at all...


Update [April 21 2014]  
I have opened a reddit thread to discuss there: https://pay.reddit.com/r/BitcoinMining/comments/23nlkt/vmc_virtual_mining_corporation_massive_74_doa/

Update [April 21 2014]  
From Dogie's Comprehensive Manufacturer Trustworthiness Guide
https://bitcointalk.org/index.php?topic=456691.0

Given that VMC are just reselling used hashfast boards re branded as VMC prospectors it doesn't surprise me that there is a massive 64% 75% failure rate in these 'used' boards with thermal paste all over them now going out to unsuspecting customers.

Care to comment Ken? or the shills who are supporting him?

Edit: The prospector boards are in fact overclocked Hashfast Babyjet boards of which there was a high failure rate because of broken temperature sensors. Interestingly, the same 'firmware'/ DOA problems being reported in the initial batch of VMC Prospectors are one and the same problem being reported in the babyjet users thread: https://bitcointalk.org/index.php?topic=426644.0 and are as yet unresolved.

If you get a DOA board from VMC you had better use that 10 day warranty ASAP





Update [April 21 2014]   So far, only three five people have confirmed receipt of the Prospector Boards. But the prognosis isn't great.

of the 25 36 known boards ordered:

15 Delivered are dead on arrival (computerjesus)
4 didn't get delivered (emjay47)
4 delivered and working. (bargraphics & unknown user)
1 Delivered (of 5) waiting for confirmation of working unit (emjay47)
1 12 Delivered Dead On arrival-  (kodemage)

One is user bargraphics who has a massive mining operation he provided links pics of his purchase.

The other is user emkay47 who ordered five and only received one:


Lastly a reddit user https://pay.reddit.com/r/BitcoinMining/comments/22ymey/fast_has_one_prospector_help/cgyps4h

who received 12 cards a card and could not get any of them working only to be shirked by ken - outcome unknown.

Edit: found another user computerjesus  who ordered 14 prospectors and could not get any of them working with the obvious silent treatment from scammer Ken.
see: https://bitcointalk.org/index.php?topic=560034.msg6271685#msg6271685
and : https://bitcointalk.org/index.php?topic=560034.msg6317813#msg6317813


This would suggest that ken is selling old miner cards that were used in a mining farm and are thus NOT new but second hand.  Care to comment Ken? or any of the shills?


Edit: one other (unknown user) who seems to be doing it right - and good luck to him. http://eligius.st/~wizkid057/newstats/userstats.php/16n9rn1agFhpepzP5WLJumfgKQEt4qRMYQ

Update [April 21 2014] Here is the BTC address I requested BTC to be refunded into at the current exchange rate of course, fiat check is acceptable, but for convenience, BTC is also accepted to end this madness and for the public to see for themselves that VMC is a scam : https://blockchain.info/address/1CcaUYYkkHZxJKiCnHae7tcMRJzE9QSSQY $769

Update [April-20-2014] Kens deadline of a check 4 weeks ago  - "Refunds will be processed in 2-4 weeks." has not been honored. This is another lie by kenneth slaughter, CEO of VMC.

Admins on the active mining shareholder thread have told me to "fuck off" and that I "have no right to free speech" because I have asked them for help in recovering my own money from VMC.

update: [April-16-2014] active mining farm running: http://eligius.st/~wizkid057/newstats/userstats.php/1DJpsvnM7xTnQbWEhLYyCyfxQyxwupEzCa
Note that the shareholders have given over millions of dollars yet are actively being denied rights to ownership or profits.

Update - [April-16-2014]: false promises of Ken on PM


**Edit another thread discussing the post deletion by Kenneth Slaughter CEO of VMC here: https://bitcointalk.org/index.php?topic=253282.0


Note: I will publicly reatract scam accusations once the money that has been stolen by VMC from me has been returned.

I honestly don't think that this company is a scam from the outset but the problems of non delivery are due to poop planning and incompetent management.

Refunds are not being processed as per statements being put out.

I personally have been asking for 10 weeks [edit april 16th 2014] 4 and a half months for a refund and have not received it.

I have sent:  

31 messages to customer service through the website
14 emails (10 of which returned as not delivered because of their email server being down)
10 posts on this forum  
6 PM's to Kenneth slaughter on this forum  

All I ever get is one of the following.

1. "your refund has been processed"
            "ok when was it processed, when was the check sent?"
<No Response>

2." we have a backlog of refunds and are processing these as fast as we can"

3. "We process refunds on a Friday so if it doesn't get processed then please let me know"
              "yes but I asked foe the refund 10 weeks ago and I still don't have the check"
<silence>

4.  Me" "where is my refund Kenneth?"
      " Please can you send me your order number"
"I have given you my order number twice already"
<Silence - deletes all posts on official mining thread>

Just to keep us updated of this refund refusal today I sent the following Message  number 31 to Customer service of VMC

Hi,

Please process my refund

My order Order Reference is XXXXXXXXX -- placed on 2013-12-XX


My address is:
XXXXXXXXX
XXXXXXX
XXXXXXXXXXXX
XXXXXXXXXX
XXXXXXXXXX
XXXXXXXXXXX

total Price: $XXXXX

Thanks,
"Magzy"

Don't forget that i have a topic too: https://bitcointalk.org/index.php?topic=253282.0

Bankruptcy would be Kens dream, as he has already funneled funds to all his family members.  What he needs are criminal charges.

not sure what you did wrong but I got my refund in less than 2 weeks time from first contact.

Hi

So how do we do to be able to take any legal action in this matter?

Positive thinking! They will deliver!

From the ACM-thread.
   
Re: [ActiveMining] Official Shareholder Discussion Thread [Moderated]
March 08, 2014, 11:17:04 PM
Reply with quote  #609
Timer removed. End time: 2014-04-01+00:00:00UTC 

Until we get some sufficient evidence, information, shares, etc else I will be filing a complaint here once above timer ends.

I have made initial contact with this law firm as well in preparation.  If this "news" in "two weeks" is the same old words of little value then I will proceed further.

If anyone would like to join me feel free to PM me at the appropriate time (2014-04-01)

Your move Ken.


// I expect this to get censored.

Don't forget to post news!

Following this I got a message from Kenneth offering me a special deal "just for me" and "not to post it"

"Yes, we can do that for you.  This information is just for you, please don't post it.  This offer is just for you as I have not put all the plan together.  If you want I will be able to ship you a 675 GH/s board in the next 3-4 weeks for the same money as you paid.  This is a special deal for you only.  We will be providing all of our pre-order customer a special deal.  Let me know if you want this one or a refund."

So I gave him the benefit of the doubt

"
Kenneth,

We have a deal but I have to insist on a few conditions.

If you can't agree to any of these then I insist that the refund be processed.

1. If the unit is not delivered to me in hand in 5 weeks from today (March 2nd 2014) then the order is cancelled and a refund will be given.

2. I want regular weekly updates as to the status of manufacture, development, testing and any deviation from the original 3-4 week deadline Failure to supply this information will result in the cancellation of the order and a refund given.

3. I need to see a picture of the production facility, the actual unit, and the unit running mining software to the specified hash rate of ~640GH/s (include pictures of the monitor with your name and date on a piece of paper)

4. No funny business, shysting, ignoring, skirting the truth, bending the rules.

5. If you uphold this side of the deal then then I will at your disposal post noting but good things about VMC and the miners on the forum.

Please advise"

He Got back saying the following:

"Deal; however, number 3 will be only running at 500 GH/s as I am giving you our fastest running board which is about 3 weeks from me having a prototype board.  I may have one sooner, than that."

a week later:

"Dear Kenneth,

1 week as passed and as part of our agreement I wanted a picture of the unit running and a weekly update of the process.

May I remind you that as part of the deal you agreed to send me these 2 artifacts or the deal would be off.

Please send these at your earliest convenience. If you can't do this then the deal is off and I request my refund.

Thanks,
Magzy"

The then immediately replied:
"Ok, Deal is off.  Refund to you ASAP."


Will the refund will be dangled like a carrot never to be given? Or will he actually give me the money back?

It's been 3 months since asking for it back.

This is the worst company in the world I have ever had the displeasure to deal with.

Refund the Money kenneth - stop being a dick

I just now requested a refund just now for order #QORQEBOJA placed on 2013-08-07 using BTC via Mt. Gox for $8,348.00 total

I will let you guys know how it goes.  ???

You have more chance of getting money out of the now defunct Gox than Kenneth Slaughter of VMC. He's a scam artist.

That's kind of the way I feel, but I will give them a chance before passing judgement. Just as I decided to give Ken a chance by ordering ASICs from him. I kind of felt like he was the red headed step child of Bitcoin ASIC land. A few people at the San Jose Bitcoin conference told me they had met him and he was weird. A lot of people have been giving him a hard time on the forums since forever. At that point I kind of felt bad for him and decided to give him the benefit of the doubt and some business... and I still feel like he has genuine intentions. I just think he is in way over his head at this point and I would like the money back.

To break even he would need to deliver me like 10x-50x (who knows when they'll actually ship) the equipment he would have had to deliver in December for me to make the same amount of Bitcoins. It is simply unfeasible. A couple months ago (I think) Ken told me personally that they would ship more equipment to allow us to at least break even in USD. I don't feel like he was lying to me when he said that he would, but it is the fact that it is just totally unbelievable at this point because of the length of the delays and the ballooning network difficulty.

I still feel he has good intentions and refuse to believe otherwise unless ActM/VMC turn out to be a complete scam. Delays with refunds are understandable IMO... there can be many unforeseen factors hindering refunds that he cannot release details on publicly due to the thin line he's walking as far as regulatory status. It sounds like they got Goxxed too.

+


I sort of agree with your sentiment but Kenneth slaughter is a lying tw@t who is still actively scamming people - he's still accepting orders for non existent miners isn't he? He's not giving refunds (he says he is but I can attest that in asking for it for the last three months he's out and out lied)

where are our refunds ken???

Here is the customer service dialog I have had to endure with VMC in order to get my money back.

If you order from VMC expect the same treatment

(Read from bottom up)


https://i.imgur.com/oMFOqmr.png

What he did wrong was ask for a refund before his wire transfer had cleared the bank.  This caused his refund request to be rejected as the order had not been paid.  Then, when his wire transfer cleared the bank it was not marked as accepted on his account, most likely due to his refund request above.  Now, it took another month for his payment to be accepted on his account.  Now, his refund request most likely was in limbo due to it being reject above.  Now, when that was cleared up his refund request was on the bottom of the stack.  Now, that is where it is now as we are waiting to start refunds again within the next week or so.  That being said, since he complained the the Missouri Attorney General office, we had to pull his refund from the stack and respond to the Attorney Generals office.  Therefore his refund is the very bottom of the stack.   

That's a whole lot of excuses right there.  Just refund the OP their money already.  It's garbage like this that would prevent anyone like myself from ever ordering from you.

Ken, are you saying now that I am at the bottom of the list when it comes to refunds next week?

You're so full of shit @ken

It would appear that this company is insolvent and doesn't have the money to refund pre order customers.

Instead is selling cards that will not ROI to fund the refunds and said writer is at the bottom of the list for complaining to the attorney Generals office that I have been scammed.

The whole setup is a ponzi scheme. Robbing peter to pay paul.

I should just shut up, let him sell more cards to unsuspecting customers so he can get more money to pay me back.

Then again, I would be complicit in fraud

[quote autAnotherhor="Bitcoin Forum"]
A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

[/quote]

Another post deleted because it paints vmc in a less thsn favourable light

It's because you've been labeled as a troll Magzy - rightly or wrongly - I suspect it's down to repeated tantrums.

Just want my promised money back. That's all I ask.

Sort it out with Ken - you've admitted you cocked up the order initially - you know it was under pre-order terms - so frankly at this stage I think you're being unreasonable.

Ken says next week he will refund me.(this is the usual story)

Will have to wait and see what happens then.

I didn't cock up the order. There was no one three to process it for a month.  And then I've been ignored for 4 months. It's only by'trolling' that I have got any traction you idiot.

Stop shilling for ken you fool.

Now I'm a shill too? lol - see when you throw tantrums like this you just lose peoples respect and if you had a message, it just gets lost.

Calm down. Let's see what happens next week with the promised refund.

It seems the moderators of Active mining
https://bitcointalk.org/index.php?topic=462370.0

and VMC
https://bitcointalk.org/index.php?topic=206488.0

systematicaly went through my posts and deleted them all.

I will be updating this thread throughout the day to repost those deleted posts in the interests of transparency and maybe shed some light on information the VMC mods would rather you didn't see.

When my refund is given I will go through my post history and enter a note to say "this debt has been settled"

Ken promises the refunds will start next week.
Let's see him produce the goods.

Msg here if you are in the same boat and want resolution

Just continue your Bullshit Kenneth:

January 30, 2014, 02:25:51 AM
We have a back log in refunds and are processing those as fast as we can.  If you have requested a refund from customer support then it is being worked on.

February 05, 2014, 01:11:34 AM »
That should have been processed, please contact customer service and tell them it has been 7 weeks.

February 05, 2014, 11:04:02 PM »
We had a little problem in December with BTC processing, so all Bitcoin refunds have to be checked, so that may be the hold up.  I will look into why you refund has not be sent.

February 27, 2014, 07:13:29 PM »
Virtual Mining is currently processing and confirming pre-order refund requests.

March 10, 2014, 12:10:40 AM »
Refund to you ASAP.

March 11, 2014, 01:28:16 AM »
I have just hired a new customer service rep.

March 17, 2014, 03:57:11 PM »
Refunds will be processed in 2-4 weeks.

April 01, 2014, 07:29:34 PM »
Me:Ken, Given that refunds will never be processed, I'll take this deal to accept product from you instead of a refund.
Ken: I don't think so, we will just send you a refund.

April 07, 2014, 02:26:10 PM »
We will be issuing you a check soon.

It seems that only one person has confirmed receipt of a prospector board Bargraphics.

anyone else actually got a board from VMC? or is the 40 or so cards sold a complete fabrication?

There's currently 15 outstanding complaints to the office of attorney general regarding refunds (none of which have been resolved)
http://www.consumer.ago.mo.gov/search/complaintSearch.cgi (search for virtual mining)

https://i.imgur.com/3v5B68a.png

The prospector will never ROI either.

The most disgusting part is the BS promises. There's another part of the company that has a mining farm with investors but the investors are not allowed access to their shares. Unbelievable.

Why is VMC taking no action to recover the alleged $250,000 + lost to MT GOX?

This is the class action lawsuit filed.

http://www.scribd.com/doc/209823896/Greene-v-MtGox (http://www.scribd.com/doc/209823896/Greene-v-MtGox)

Unless the Gox $250k was another lie?

as asking for it in court would be a felony.

This was a mistake as I didn't know the class action law rules. The above suit is just one person.

Deleted Post
« Sent to: magzy on: April 03, 2014, 06:50:56 AM »
Reply with quoteReply with quote  Remove this messageDelete 
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You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

Quote
Quote from: JoTheKhan on April 03, 2014, 04:53:50 AM
@DeadwoodDan If you are going to call someone a scammer then please provide proof

Is refusal to give a refund for the last 4 months proof enough?

Deleted Post
« Sent to: magzy on: April 03, 2014, 08:20:17 AM »
Reply with quoteReply with quote  Remove this messageDelete 
A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

Quote
Quote from: Bitcoin Forum
A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

Quote
Quote from: JoTheKhan on April 03, 2014, 04:53:50 AM
@DeadwoodDan If you are going to call someone a scammer then please provide proof

Is refusal to give a refund for the last 4 months proof enough?

Why was this accusation deleted?

If refunds are actively being refused and ignored then surely people should be made aware of such activity?

Deleted Post
« Sent to: magzy on: April 05, 2014, 11:41:13 AM »
Reply with quoteReply with quote  Remove this messageDelete 
A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

Quote
Quote from: Simon Templar on April 04, 2014, 11:51:51 PM
It's all good bud.  Only braving a comment because of the good vibe.  It's hard not to get excited when I'm looking at the hash rate rise in the data center and seeing miners out in the open.  I'm not grinning from ear to ear yet but am starting to see that perhaps my cash wasn't wasted when I jumped in with both feet.  This could be something new in the Bitcoin space but it's still early doors so tread lightly is my best advice.

I hope you are enjoying the fruits of all the stolen money from the pre-order customers who are awaiting refunds.

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Where are our refunds ken?

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« Sent to: magzy on: April 06, 2014, 09:32:25 AM »
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Quote from: gjpminingco on April 06, 2014, 04:46:15 AM
Wow the troll is back, VE please just leave no one wants you here

He's not trolling. There is a lot of truth in what he's saying.

The Prospector cards will not ROI as per facts here:
https://tradeblock.com/mining/a/b7e06d808e

He has also scammed people out of money (Myself included in this)

His continued refusal to address this concerning for the future of the venture.

He's taken to deleting my posts asking civilly where the refunds are.

Is this the behaviour of a company that shows integrity?

Let this whole debacle of negative trust ratings, stealing money, lies, false promises, more lies, carrot dangling, covering up the truth, deleting posts and ignoring customers be a big red flag to not deal with this company intil they can demonstrate an ounce of integrity.

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« Sent to: magzy on: April 06, 2014, 09:46:47 AM »
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Quote from: JoTheKhan on April 06, 2014, 03:33:04 AM
Quote from: kslaughter on April 06, 2014, 03:06:56 AM
Quote from: Ozymandias2 on April 06, 2014, 02:44:17 AM
Quote from: kslaughter on April 06, 2014, 02:40:42 AM
Quote from: auto2nr1 on April 06, 2014, 12:07:01 AM
Quote from: kslaughter on April 05, 2014, 11:23:21 PM
Data Center Update: 4/5/2014

We are continuing to bring up machines in our data center; however, we won't have the air conditioning running until next week, so this may limit us to the number of TH we can put on line this week.

Shipping of products:

Due to bring the Data Center online on Thursday and Friday we did not ship any products.  We will continue shipping starting on Monday the 7th.

Can you let us know when the AC will be running? Early or late next week? Also, when will you finish up the verification of shares so we can start trading? Thanks.

The AC should be running late next week, they are waiting on parts.  I will start working on the verification program on Monday, moving it up to the server and testing it out.

Once the AC is up, is there any reason, even if one that you can't/wont disclose, for increasing the self-mine by 100th/s per month instead of faster? Is time the limiting factor? If so, would it be possible to hire someone solely to build the mine?

There are a number of factors which limits how fast we can increase our self mining hash rate.  1) Available power, we have to install step down transformers, power panels and outlets in each rack.  2) Available funds for mining boards, power supplies, coolers, cables, etc.  3)  The amount of time it takes to install a working miner in the rack.  4) The amount of time it takes to tweak the miners for maximum performance.  5)  Maximum available power and cooling, we believe using our calculations we have enough power and cooling for 1,069 TH based on the electrician's estimate.     

You mention "using our calculations we have enough power and cooling for 1,069 TH based on electrician's estimate." But what about Funds. (2), do we currently have enough Funds to raise 1,069THs?

I'd say his refusal to issue any refunds on 4 month old pre orders that can never be fulfilled would indicate that he's out of money.
He's a scammer.

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« Sent to: magzy on: April 06, 2014, 09:56:47 AM »
« You have forwarded or responded to this message. »
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Hi Magzy,

You are not banned from posting in the ActM Shareholders Thread, however this is a warning that you will be if you troll this thread.

Due to the nature of the thread title 'Shareholder Discussion Thread' many of you posts are off topic and we would ask that you consider posting in another, more appropriate thread.  Perhaps create your own if one does not exist.

It is not acceptable to continue to bash the company and make false scammer accusations on this thread and such posts are considered trolling.  You clearly have a legitimate concern regarding your pre-orders and we wish you the best outcome, however if you continue to make unacceptable posts you will be asked to stop posting altogether.

Regards,

ActM Thread

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Quote from: JimmyJazz on April 07, 2014, 12:24:43 PM
Will you please stop your crying all over the threads. You were the dumb cunt who cancelled an order straight after transferring money.

No. It's a fair point to say that a active mining and it's profits is liable for the fuck ups of ken.

Why is it a crime to ask for a refund after realising you have been conned into buying a non existent miner?

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Quote from: dropt on April 07, 2014, 04:48:29 AM
Quote from: kslaughter on April 07, 2014, 04:40:07 AM
Quote from: Edser on March 04, 2014, 07:07:45 PM
not sure what you did wrong but I got my refund in less than 2 weeks time from first contact.

What he did wrong was ask for a refund before his wire transfer had cleared the bank.  This caused his refund request to be rejected as the order had not been paid.  Then, when his wire transfer cleared the bank it was not marked as accepted on his account, most likely due to his refund request above.  Now, it took another month for his payment to be accepted on his account.  Now, his refund request most likely was in limbo due to it being reject above.  Now, when that was cleared up his refund request was on the bottom of the stack.  Now, that is where it is now as we are waiting to start refunds again within the next week or so.  That being said, since he complained the the Missouri Attorney General office, we had to pull his refund from the stack and respond to the Attorney Generals office.  Therefore his refund is the very bottom of the stack.   

That's a whole lot of excuses right there.  Just refund the OP their money already.  It's garbage like this that would prevent anyone like myself from ever ordering from you.

Just to make active mining aware. If VMC is losing sales because of the idiocy of ken above then the shortfall will have to come from a active mining (as per kens post last week)

You have a vested interest in ensuring VMC doesn't die from a shit ceo

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« Sent to: magzy on: April 07, 2014, 12:35:28 PM »
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Quote from: kslaughter on April 07, 2014, 04:26:21 AM
@magzy What I am saying is that we lost BTC on MtGox that we needed to convert to USD to give you a refund.  The first mistake you made was you ask for a refund before your wire transfer cleared, this is where the problem begun.  Since you was asking for a refund and your payment had not been accepted, then your refund was not accepted, then your payment was not marked as accepted for a month after that.

I will be happy to refund your money as soon as we start refunds, which should be next week when my customer service rep comes back to work.  We intend to refund 100% of our customers that want a refund, we have already started shipping to our Pre-Order customers that wanted our Prospector card and we offered them a 20% discount and we applied their Pre-Order funds to their new order.  You seem to be the only customer have a problem like this, so I think it was due to asking for a refund on the day you placed the order and not waiting until your wire transfer cleared the bank.

Thanks for the explanation.

Given that there has been a unique and monumental screw up in this whole affair adnittedly most of it not your fault, would you consider making this right ASAP, making peace and giving me my refund via BTC today?

I have PM'd you my BTC address (Along with other verifiable information)

Thanks,
Magz

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Quote from: kslaughter on April 07, 2014, 03:25:21 AM
@Magzy  We are getting ready to start refunding customers this coming week as soon as our new customer service rep is back on the job.  You can do what you need to do, these are custom made products which in the description says that it may take 3 months or more to receive your product.  We have refunded over $300,000 so we are not trying to steal your money.  However, we did lose pre-order money on MtGox, which has caused us a delay in refunding customers.

@ken your website stated delivery dec 31 when ordering. This was a lie on your part because you knew you would never deliver on that date.

I asked for the money back the same day - 4 months ago in December.

I paid in USD so the MTGox excuse is a non issue. Are you saying that my pre order USD money was converted to BTC?

You still have my money.

Any reasonable person would say you have stolen it ( the actual crime is "Obtaining funds by deception" -  anyone dealing with you could also be accused of "Handling stolen goods" and " obtaining funds from the proceeds of crime")

I do not want to go down this road because I know you are better than that.

I am happy to accept BTC as payment. I will then update all my scam accusation posts as "settled" and I will then leave wishing you all the very best in your efforts.

Until then I will continue to inform other members/investors/customers of the facts surrounding this whole affair.

I have to go to the police and file a complaint before the bank will open a fraud investigation dialogue between my bank and your bank (Bank of America)

good day.

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« Sent to: magzy on: April 07, 2014, 12:37:54 PM »
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Quote from: JoTheKhan on April 03, 2014, 05:41:16 AM
Quote from: magzy on April 03, 2014, 05:34:12 AM
Quote from: JoTheKhan on April 03, 2014, 05:18:29 AM
Quote from: magzy on April 03, 2014, 05:02:53 AM
Quote from: JoTheKhan on April 03, 2014, 04:53:50 AM
@DeadwoodDan If you are going to call someone a scammer then please provide proof

Is refusal to give a refund for the last 4 months proof enough?

From my understanding he is paying out refunds, and honoring previous payments with equipment. If this is not the case then he is committing fraud and you should seek a lawyer or the authorities. But posting on this thread how Ken is a scammer isn't going to help.

Posting on this thread asking for a refund will probably not get deleted from what I've seen and you should try to get in contact with him through other means if this thread isn't cutting it for you. I was specifically referring to DeadwoodDan and I don't think there is any issues with asking questions about refund status on this thread. Something that DeadwoodDan was not doing.

I have tried PM's, emails, website messaging system, The office of attorney general.

Been trying to get the refund for 4 months and nothing but false promises. (e.g. "refund to you ASAP", "refund in the next 2 weeks")

the guy is scamming me.


@ Ken if this is the case I suggest you handle this issue.

Unfortunately Magzy there is not much I can do for you.


I appreciate your help and yes it's in the hands of @ken.
I don't understand why he won't refund the money as promised.
This situation can't be good for anyone least of all the shareholders knowing the company is being run by a willful scammer.
It's not just me either. There's an active thread on scam accusations towards VMC and Kenneth slaughter. https://bitcointalk.org/index.php?topic=504424.0

Are we certain this company has the funds for the refunds?
How will this lack of funds affect the share price once trading starts?

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Wellldone @ken for getting these out.

Where are our promised refunds from December.?

Happy to accept btc.

Please advise.

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« Sent to: magzy on: April 07, 2014, 12:38:45 PM »
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Quote from: drasted on April 03, 2014, 03:04:07 AM
Quote from: kslaughter on April 03, 2014, 01:54:07 AM
Quote from: toastee on April 02, 2014, 09:57:29 PM

Ken, fix the contact info on the website and the cs@virtualminingcorp.com address. You have people wanting to give you money that can't, and pissed off pre-order customers.

I will be fixing that next week.

This is the kind of thing that needs to be fixed right now. Not tomorrow and really not next week. You really need to consider hiring someone to help out with these sorts of things.

What's the point in fixing it if there's no one there to actually answer any emails (I've been trying to get anything out of them for 3 months)

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Ken,

There are still a lot of customers who requested refunds in the previous months who have still not received them.

What assurances can you give to future customers that they will not be scammed and then ignored in the same way?

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Quote from: kslaughter on April 03, 2014, 02:05:42 AM
Quote from: elmwar on April 03, 2014, 12:49:52 AM
Thank you for the update.  Good news and more detail than normal. 
I'm very happy to hear we'll have control over our shares once again!

However, we are still waiting on 2013 financials.



Yes, I will be working with our CPA next week to get our books in order and pay any taxes that are due.

can you pay me my refund I requested last year while you are at it?Huh

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Quote from: elmwar on April 07, 2014, 11:08:59 AM

Ken.  Release the financial reports.  You have a responsibility to do this.



What are you expecting to see on the reports?

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Quote from: kslaughter on February 20, 2014, 01:32:10 PM
Quote from: ActM Thread on February 20, 2014, 12:57:36 PM
Reposting a comment without the giant spammy text. The concern of customers receiving refunds is legitimate.

Quote from: stenkross on February 20, 2014, 12:19:19 PM
This was already posted in the unmoderated thread, but I think it's relevant so I'll re-post it here.
VMC's rating was demoted from B to E, because of refunds being ignored and no products on the horizon.
I can't blame them on the "no product on the horizon", but refunds being ignored can't be good for business.

Ken, can you address this?


We have processed refunds this week and mailed out checks.  With the volume of refunds being processed, we are running behind.

No you haven't, I have been waiting 9 weeks for my refund and despite a vague promise to look into it I have yet to to receive a refund. You are a muppet.
No, I am a muppet for believing this scam in the first place.

You WILL be hearing from the Office of the  Attorney general's Consumer protection Division in Jefferson County quite soon (if not already)

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Quote from: chairforce1 on April 10, 2014, 12:57:53 AM
Is there any info on refunds that weren't transferred to product? I've seen the user magzy on the forum talking about how much of a bad experience was had with VMC. Are there many refund requests? Negative feedback from customers hurts much worse when a company is new and trying to get a footing in the industry.


Ken has promised that the refunds will arrive next week so I'm happy this is going to be fulfilled.


I've been in contact with ken on PM's over the last 3 months after getting nothing from CS and he has replied to most of my requests with the following:

January 30, 2014, 02:25:51 AM
We have a back log in refunds and are processing those as fast as we can.  If you have requested a refund from customer support then it is being worked on.

February 05, 2014, 01:11:34 AM »
That should have been processed, please contact customer service and tell them it has been 7 weeks.

February 05, 2014, 11:04:02 PM »
We had a little problem in December with BTC processing, so all Bitcoin refunds have to be checked, so that may be the hold up.  I will look into why you refund has not be sent.

February 27, 2014, 07:13:29 PM »
Virtual Mining is currently processing and confirming pre-order refund requests.

March 10, 2014, 12:10:40 AM »
Refund to you ASAP.

March 11, 2014, 01:28:16 AM »
I have just hired a new customer service rep.

March 17, 2014, 03:57:11 PM »
Refunds will be processed in 2-4 weeks.

April 01, 2014, 07:29:34 PM »
Me:Ken, Given that refunds will never be processed, I'll take this deal to accept product from you instead of a refund.
Ken: I don't think so, we will just send you a refund.

April 07, 2014, 02:26:10 PM »
We will be issuing you a check soon.

...next week. Lets see if he continues to take the piss.

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« Sent to: magzy on: April 10, 2014, 12:36:07 PM »
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Quote from: kslaughter on April 10, 2014, 01:47:07 AM
Quote from: chairforce1 on April 10, 2014, 12:57:53 AM
Is there any info on refunds that weren't transferred to product? I've seen the user magzy on the forum talking about how much of a bad experience was had with VMC. Are there many refund requests? Negative feedback from customers hurts much worse when a company is new and trying to get a footing in the industry.

Yes, I understand about the negative feedback, we have explained in full what the problem has been with refunds.  We are getting ready to restart sending out refunds next week to customers that have requested one.

It seems there are at least 15 outstanding refund requests that have not been settled:
https://bitcointalk.org/index.php?topic=491609.msg6155611#msg6155611

Make this right ken.

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Quote from: drawingthesun on April 14, 2014, 01:41:45 AM


...In addition to this CryptoTrade is fundamentally broken as it shows 700,000 outstanding shares when Ken has issued less than 300,000...



how do we  Know he hasn't issued 700k shares?

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Quote from: drawingthesun on April 14, 2014, 05:03:50 AM
This is true, and I am sure the many securities on Havelock would love to be on a decentralized system in the mean time but they are not. I agree with you that Havelock is the best choice.

Here are some facts:

- Decentralization is very hard. A lot of you are becoming complacent thinking that we can easily and without too much effort securely decentralise things like asset trading. Satoshi spent several years working on Bitcoin and there are only a handful of people on Earth that have created fully decentralised systems. Satoshi and Bram are the first two that come to mind. This decentralized asset trading system isn't going to be a walk in the park and I would want the system to be live for many months before moving over millions of dollars worth of assets.

- Most people agree with my point above simply due to the fact that most assets are listed on Havelock and not on CC or Counterparty. Once they are ready I am sure they will move. In this regard (where to list our shares lets FOLLOW the herd for once).

- If Ken wants to wait until the utopian ideal of decentralized asset trading systems are live, we might have to wait months. If we want to see how they go for a while to see what vulnerabilities are discovered because we don't want to lose all of our shares we could easily be waiting until early 2015.

- The shareholders including myself are tired of the endless excuses. There exists a high volume exchange ready to take us on and is arguably more secure and better run than CryptoTrade. Let's get listed on Havelock please.

- Regarding volume, many of us want to sell our shares and I know about a million shares want to get out for at least 2,500 bitcoin. I am 100% certain CrytoTrade will never see anywhere near that much volume. Lack of volume will create a share price of 0.000001 easily once 10 million shares are listed and about 10 bitcoin worth of buyers. It will be a blood bath on Havelock but a blackhole on CryptoTade.

- No one that wants to preserve our share value wants to be on CryptoTrade. I can only assume the CryptoTrade fans are either 1)shills 2)bought UKYO shares and are acting in self interest 3)are trolls.

It doesn't matter, Havelock or CT if the company is performing, producing profits results, sorting the complaints out, sorting customer service and shipping miners out as stated in the IPO.  People will want to be a part of that and then the share price will go up.

If you look at the IPO offering on https://www.crypto-trade.com/tradex/ipo/amc_btc

Quote
AMC is a Bitcoin mining cooperative who sole purpose is to mine bitcoins for profit.  AMC is also developing
ASIC chip(s) for bitcoin mining. Chips will be marketed through VMC and AMC will receive profits on the sales.
Also, machines build using AMC technology will receive profits from VMC.

Current Hashing Power:

Check our thread"[AMC]-The Official Active Mining Cooperative Discussion" on BitcoinTalk.Org for current information about our current hashing rate.  As of the date of this secondary offering AMC has the following equipment in place:

AMC has the following equipment hashing

6 Avalon 65 GH/s units hashing.

68 Klondike - 16 chip ASIC Open Source Boards ~250 GH/s

Total Hashing Power Hashing ~700 GH/s

AMC through VMC expects to sale 1 Million of its 28nm Bitcoin Mining Chips in 2014.  After AMC recoups its
NRE of ~1 Million dollars, then AMC expects to receive ~40 Million dollars in profits from its VMC subsidary payment in 2014.
The recouped NRE and profits from VMC will be used to make AMC the largest Bitcoin Mining Farm in the world.

The share price is based on the current reputation of this delivery and the company. This is the benchmark that needs to be met or exceeded in order to meet the market and the price to rise.

at 0.0008 BTC (34c USD) * 25m shares gives a current valuation of  $8,500,000.00 for AMC.

If we use these numbers to look at the Price earnigs ratio then If this ratio is less than 1, its a great buy. If its around one, its a good buy. If the PE to growth ratio is higher than 2, you would want to take a serious look at whether you want to buy the stock.

Lets have a look:
P/e/ is calculated by "Market Value per Share" /"Earnings per Share (EPS)"

Market value per share  = 0.34c USD (0.0008 BTC)
Earnings Per Share =  $40m (from IPO above) /25m shares =1.6

Price Earnings Ratio = 0.34/1.6 = 0.2125

This is a great buy and that's why I have bought AMC

If the sales are projected out from the recent current sales at VMC then we have the following P/E.
~45 cards @ $2k = $90k in 2 weeks 90k * 26weeks = $2,300,000 sales for VMC in 12 months.

Then the p/e ratio will be 0.34/ 0.92(eps based on $2.3m /25m) = 2.833

The only way to increase this would be to sell more cards to the tune of $9m sales to make the PE go under 1 - this will signify a "good buy" as per above.

The only way to sell more cards will be to increase marketing/reputation.

The only way to increase reputation is to make the customer at the center of everything you do. Honor sales, customer service, refunds, get good feedback which in turn equals more sales.

I'm just going off the intention in the IPO and recent sales at VMC.

Do your own research. IMHO etc etc

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Quote from: drawingthesun on April 14, 2014, 07:00:05 AM
Magzy, for someone who has called Ken a scammer and helped to ruin our reputation you're a surprising dipshit to now invest and believe in the IPO prospectus.

Two faced people like you really frustrate me, are you gaming us or are you actually stupid?


I'm front running the inevitable round of refunds this week and riding on the successes of the mining farm being set up.

I agree I'm erring on the stupidity side of this. I'm am very skeptical and I had a lot of trouble convincing myself to buy....but as a famous investor once said "Buy when there's blood in the streets, even if the blood is your own." Source:http://www.investopedia.com/articles/financial-theory/08/contrarian-investing.asp

The price is poor because it's a poorly run company with terrible communication and logistics.  Lets face it but that's good news for value investor who can see the potential and buy cheap. There is potential. But there is great risk too.

When ken releases the refunds this week then people will start to post positive things about VMC and Ken.

When that happens, I have publicly and privately promised to go through my post history above (Plus all the others on here , VMC Official, uniofficial, Dogies manufacturers trustworthy guide and on r/bitcoinmining on reddit) and annotate all and every scam accusation.

I still stand by the scam accusations when they were said at the time. Even Dogie said that VMC was a scam at one point. He and I both agree that the scams and the ratings will improve when the refunds start and the products are being independently verified. (only bargraphics and maybe someone else on here has come forward with an explanation)

Separate from that, a factoid I discovered recently re bitcoin is that the difficulty is getting lesser and lesser difficulty increases.The last one was just 12%. Something that is very good for the ROI of the prospector: https://tradeblock.com/mining/a/5fa9630aee

This means that the hardware being installed now by customers and AMC will ROI for longer - happy customers and shareholders = better perception of VMC/AMC/Ken

There's probably never been a better time to buy if Ken pulls it off which he appears to be doing.

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« Sent to: magzy on: April 15, 2014, 09:21:08 AM »
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Quote from: JoTheKhan on April 15, 2014, 05:49:17 AM
Quote from: magzy on April 15, 2014, 05:37:20 AM

April 01, 2014, 07:29:34 PM »
Me:Ken, Given that refunds will never be processed, I'll take this deal to accept product from you instead of a refund.
Ken: I don't think so, we will just send you a refund.


I'm sorry but that is hilarious. Of course I think you are due to a refund and 100% in the right, that is just a very funny response. I apologize.

I don't know whether to laugh or cry  - make the most of it anyway as all my posts automatically get deleted now as a matter of course by the mod - even though I am both a customer and a shareholder.

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« Sent to: magzy on: April 15, 2014, 09:21:35 AM »
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Here's a list of refund statements by Ken given to me on PM.

January 30, 2014, 02:25:51 AM
We have a back log in refunds and are processing those as fast as we can.  If you have requested a refund from customer support then it is being worked on.

February 05, 2014, 01:11:34 AM »
That should have been processed, please contact customer service and tell them it has been 7 weeks.

February 05, 2014, 11:04:02 PM »
We had a little problem in December with BTC processing, so all Bitcoin refunds have to be checked, so that may be the hold up.  I will look into why you refund has not be sent.

February 27, 2014, 07:13:29 PM »
Virtual Mining is currently processing and confirming pre-order refund requests.

March 10, 2014, 12:10:40 AM »
Refund to you ASAP.

March 11, 2014, 01:28:16 AM »
I have just hired a new customer service rep.

March 17, 2014, 03:57:11 PM »
Refunds will be processed in 2-4 weeks.

April 01, 2014, 07:29:34 PM »
Me:Ken, Given that refunds will never be processed, I'll take this deal to accept product from you instead of a refund.
Ken: I don't think so, we will just send you a refund.

April 07, 2014, 02:26:10 PM »
We will be issuing you a check soon.

Deleted Post
« Sent to: magzy on: April 15, 2014, 01:17:18 PM »
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Quote from: Simon Templar on April 15, 2014, 11:38:59 AM
You just don't get it do you?  This data center could be operating at 10 PH and it would mean nothing for us.  Not until we get our shares.  But how can we ever expect to get our shares back when the only person who can make it happen is saying one thing and doing another?  This will go on and on, trust me.  There is something seriously amiss and I'm calling it right here.

I reckon he knows something bad and doesn't have the nerve to break it to us.   Investment hopes shattered once again.  Someone get me off this roller coaster from hell.

*puts on tin foil hat*
My guess is that he converted all the fiat from the sales and the preorders into BTC on Gox and then lost it. Sans the 100k he sent to china for the chips.

If the hardware is all he has, then this would explain the non refunds of preorders. and the missing shares that he probably pledged to hasfast to procure the boards to sell the prospectors and stick the rest into the farm. (which is stalling at 30TH/s) and summer is coming

*takes off tin foil hat*
Ken is a fucking lying cunt who's blatantly scamming everyone.

Please tell the truth ken - even if you think that some people won't like it. We will respect you more for it.

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« Sent to: magzy on: Today at 05:26:44 AM »
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Quote from: zefyr0s on Today at 04:15:25 AM
Magz: if you had an actual case, getting other people rallied up about it only takes away from the money you would potentially get, unless you feel you have an underhanded argument and need the attestations of others to reinforce it. Shit or get off the pot, but we don't want to hear about it here. Do you have a lawyer? Have they been in contact with Ken's lawyers? Surely if there is an issue that customer service can't resolve your two attorneys should be able to work out an amicable agreement without disparaging Ken or the company.

The need for rallying is that a lot of people paid money. for each one to get an attorney individually will cost ~$600 each for a theft claim which kind of makes it non worth while.

By clubbing together and getting the attorney to act on behalf of all customers that got scammed (we are all practically the same case with the $'s being variable) will be in the region of ~$600 shared between all customers who wish to partake in the legal action.

If you think about it I'd be doing you lot a favor as shareholders because of the following:

1. VMC's legal costs will be their own plus our ~$600 - this will come out of AMC's farming profits on what would otherwise have been (~$600 * (number of customers he has scammed))
2. All refunds get paid albeit forcibly...
3. ...Which means no more complaints sans future customers who get screwed over.
4. No one is mentioning "withheld shares" here to the SEC thus, shares will be unaffected. As a shareholder this is not in my interests either.
5. ken will think twice about fucking people over again and will thus cultivate an ounce of a reputation respect for VMC/AMC for the future.

I'm still waiting on kens refund promise this week. (as I have been doing for 4 and a half months - you can understand our frustration here right?)
e.g. Here's a list of refund statements by Ken given to me on PM.

Quote
January 30, 2014, 02:25:51 AM
We have a back log in refunds and are processing those as fast as we can.  If you have requested a refund from customer support then it is being worked on.

February 05, 2014, 01:11:34 AM »
That should have been processed, please contact customer service and tell them it has been 7 weeks.

February 05, 2014, 11:04:02 PM »
We had a little problem in December with BTC processing, so all Bitcoin refunds have to be checked, so that may be the hold up.  I will look into why you refund has not be sent.

February 27, 2014, 07:13:29 PM »
Virtual Mining is currently processing and confirming pre-order refund requests.

March 10, 2014, 12:10:40 AM »
Refund to you ASAP.

March 11, 2014, 01:28:16 AM »
I have just hired a new customer service rep.

March 17, 2014, 03:57:11 PM »
Refunds will be processed in 2-4 weeks.

April 01, 2014, 07:29:34 PM »
Me:Ken, Given that refunds will never be processed, I'll take this deal to accept product from you instead of a refund.
Ken: I don't think so, we will just send you a refund.

April 07, 2014, 02:26:10 PM »
We will be issuing you a check soon.


Note his refusal to even sell me a card^ This illustrates his stubbornness.

He says I'm at the bottom of the refund list so If I get my refund this week then all refunds will have been paid and then we can all relax focus on other important things.

How fucking difficult is this? Ken?

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Re: (No subject)
« Sent to: magzy on: April 16, 2014, 09:40:40 PM »
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Quote from: magzy on April 16, 2014, 06:49:11 AM
All of my deleted posts (by you) in the open for all to see:
https://bitcointalk.org/index.php?topic=491609.new#new

as before, I just want my money back.  that is all.

Contunue to withold money and the posting continues.

Refund money and the posts stop.

Simple.



This is a clear blackmail threat. Blackmail is illegal. If you feel it correct to contact the AG office to seek justice then it is also correct that we contact relevant authorities if you carry out this blackmail threat by continuing to harass and disrupt the thread. 

This is your final warning.

Do NOT post in the ACtM shareholder thread again.

My open letter to ActiveMining / VMC in response to accusing me (Magzy) of blackmail:

Sent to: ActM Thread on: Today at 12:41:40 AM
This isn't blackmail. it's a promise.

To reiterate my promises I feel it correct that while VMC is taking money for orders and not refunding people (many others and me) according to laws in the state of California, US federal law and the UN charter on International Trade then the truth should be made as public as possible in order to prevent other people becoming victim to this scam of both VMC and the joke that is AMC.

If that means posting on a PUBLIC FORUM my experiences, questions and comments of my relevant interaction with VMC and AMC (good or bad) as both a customer and as a shareholder on CT then so be it. It just so happens that it's all bad - very bad. Therefore you deny me the right to free speech and freedom of expression in that PUBLIC FORUM.

I have posted the truth and I am going to continue posting the truth here, on the forum, and everywhere else that can possibly host the truth to get the facts out there. Until the problems are resolved for others I have been in contact with in private firstly and myself lastly.

Given that I am at the bottom of the list on refunds (as per ken's post) then I will cease to make scam accusations here there and everywhere once my refund is given. (I will take it that all others before me will have been granted their rightful and lawful refund.)

I will also take it that all potential VMC customers and shareholders will see the scam accusations and take them as a warning.

I promise that I will continue to journal and expose the fraud that VMC has become until there is clear evidence that the company is no longer a fraud or a scam. I have made this exact same scam accusation to the US Attorney General and I will continue to make this accusation on a PUBLIC FORUM until proven otherwise by way of having 4 month old refund requests granted and products verified in the open by the others I have been in contact with privately.

I promise to seek legal action when/if the refund doesn't materialise this week and collaborate with others who have also been scammed. I promise I will create a new thread explaining how people can get their money back from VMC via the correct legal means.

I promise will systematically go through my post history and annotate all open scam accusations with a retraction once the lawful debts by way of having my own money given back to me - money that was obtained by deception. (Incorrect shipping date, no actual product to deliver)

I will then retract my PUBLIC scam accusation with the attorney general for the same.

If you continue to deny me the rights of free speech and accuse me of blackmail in a public forum, fine. You do what you need to do.

I promise I just re post it in my own VMC thread whereupon it makes your whole VMC fraud operation look even more like a fraud until it's not a fraud any more (refund of MY money) or it simply goes out of business.

I wish you every success and great fortune with VMC and Actm but not at the expense of willful and open theft to fund it.

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« Sent to: magzy on: April 16, 2014, 09:17:42 PM »
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Don't you know already you have been robbed by Kenneth slaughterer? He is the sole owner of your shares. correct me if i'm wrong but you have no proof of ownership. If he disappears tomorrow he still has your money and there's nothing you can do about it. Offices of the SEC would be quaking if this was happening in the US. Yet you all bend backwards for ken and let ken milk your emotional well-being as each day passes.

If he was a real company in the US he would never have got this venture off the ground because he would have failed every regulatory requirement

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« Sent to: magzy on: Today at 01:25:35 AM »
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It' all an elaborate scam or something has gone catastrophically wrong - I too say goodbye.

Sorry for your loss.

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« Sent to: magzy on: Today at 01:15:38 PM »
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Quote from: dahsto on Today at 12:04:26 PM
Quote from: dahsto on April 14, 2014, 12:15:39 AM
Hello Ken,

I pre-ordered a Fast-Hash-One Silver 64 GH/s PCI-E Module (Order Reference AGWQBVSDM) -- placed on 2013-12-03, my status on the VMC website is still showing "Awaiting bank wire payment" and i have absolutely no answers to my messages from the customer support. What is going on ? I would like a refund now..

Thanks

Still no answer from the customer support at this day..

I'm sorry for your loss

This is how business is done: https://bitcointalk.org/index.php?topic=575499.0

I agree. Now if I just got my money back from robbing bastard ken....

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« Sent to: magzy on: April 19, 2014, 08:46:24 AM »
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The fact that ken promised the refunds world happen this week personally and publicly and he has failed to do this is the root cause of disjointed people complaining to the authorities.

Ken where are the refunds as promised? ?  ?
Explain why we should not start a class action over this and add further to your long list of problems?

from: ActM Thread
Re: Trolling
« Sent to: magzy on: April 19, 2014, 02:20:55 PM »
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Why would any of the 6 or 7 shareholders who run this account bother to help you after the shit you have caused?

Fuck Off.

from: ActM Thread
Re: (No subject)
« Sent to: magzy on: April 19, 2014, 02:33:09 PM »
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Quote from: magzy on April 17, 2014, 12:41:40 AM
If you continue to deny me the rights of free speech and accuse me of blackmail in a public forum, fine.


You have no rights of free speech on this thread so don't post again. Final warning.

So I'm at a loss as to what to do next to get my money back from VMC.

Ken's own deadline came and went with out any comment or any check for that matter.

Anyone care to help me out, given the shareholders have told me to "fuck off" and that I have no rights to free speach.

Would this constitute reasonable grounds to say categorically in a court of law that the money has in fact been stolen from people and myself?

Hey not all the shareholders have told you to get lost. I'm on your side in regards to the stolen funds.

How much are you owed if you don't mind me asking, Ken should just take it out of the mining address ASAP and send it to you.

I would love nothing more to have him give me my money back.

It's only $769 - hardly worth the cost of going to court over which is why I'm relegated to the role of 'troll' in the eyes of the mods on the official threads.

What the hell, Ken has been fucking you around for 1.538 bitcoin? What the hell is going on in his head?

How many other people are owed money right now?

Does Ken know your bitcoin address?

Post it here and hopefully Ken will give up being stubborn and will just send the 1.528 to your address.

I know of 2 others who I have been in contact with privately - both of whom are owed more vast sums of money than I am - into the thousands each. They are getting the exact same treatment as me. I'll leave it up to them to come forward. So they don't die of the shame of the public knowing they had dealings  with VMC.

I sent Ken a PM urging him to just pay you and the others off in Bitcoin to end this madness. Why doesn't the company understand this negative press is costing us our future.

Here is the address I asked Ken to refund my money to: https://blockchain.info/address/1CcaUYYkkHZxJKiCnHae7tcMRJzE9QSSQY

But I was labelled a troll for asking for a BTC refund and being unreasonable and taking advantage of Ken. I have subsequently been accused of Blackmail for promising to continue journalling this whole depressing episode until I am proven otherwise by way of having said refund given to me.



 

+1 to you.

I appreciate your help.

 So far, only three five people have confirmed receipt of the Prospector Boards. But the prognosis isn't great.

of the 25 known boards ordered:

15 Delivered are dead on arrival (computerjesus)
4 didn't get delivered (emjay47)
4 delivered and working. (bargraphics & unknown user)
1 Delivered (of 5) waiting for confirmation of working unit (emjay47)
1 Delivered Dead On arrival-  (kodemage)

One is user bargraphics who has a massive mining operation he provided links pics of his purchase.

The other is user emkay47 who ordered five and only received one:


Lastly a reddit user http://www.reddit.com/r/BitcoinMining/comments/22ymey/fast_has_one_prospector_help/

who received a card and could not get it working only to be shirked by ken - outcome unknown.

Edit: found another user computerjesus  who ordered 14 prospectors and could not get ANY of them working with the obvious silent treatment from scammer Ken.
see: https://bitcointalk.org/index.php?topic=560034.msg6271685#msg6271685
and : https://bitcointalk.org/index.php?topic=560034.msg6317813#msg6317813

From Dogie's Comprehensive Manufacturer Trustworthiness Guide
https://bitcointalk.org/index.php?topic=456691.0

Given that VMC are just reselling used hashfast boards re branded as VMC prospectors it doesn't surprise me that there is a 64% failure rate in these 'used' boards with thermal paste all over them now going out to unsuspecting customers.

Care to comment Ken? or the shills who are supporting him?

I don't know too much about that stuff, but I was under the impression we are only buying the ASIC from Hashfast and we have based the boards off of the reference design, but rather had them contracted out to an engineering firm to build.

So we shouldn't we buying any hashfast boards at all.

I would too like an explanation.

So further investigation and dot joining.

It looks like the VMC Prospectors are in fact used and overclocked Hashfast Babyjet boards.

Babyjet : https://hashfast.com/wp-content/uploads/2013/12/Marco-measuring.jpg
Prospector: https://bitcointalk.org/index.php?topic=560034.0;all


Here is the original Babyjet thread:
https://bitcointalk.org/index.php?topic=270384.0


and the specs of VMC:

This is Bargraphics mining pool http://eligius.st/~wizkid057/newstats/userstats.php/1FscNBYzd5CqDzUVQ9YapLQNtLbswkM4NL

Note that his 2 prospectors went offline 2 days ago (21-apr-14 @ 18:00)

This is Active Mining: http://eligius.st/~wizkid057/newstats/userstats.php/1DJpsvnM7xTnQbWEhLYyCyfxQyxwupEzCa
Note that their theoretical limit of 50TH/S (given the 75% failure rate) was exceeded to 60TH/S (21-apr-14 @ 21:00)

Is bargraphics lending Active Mining their own cards back to bump up the farm?

I posted the recent updates to the active miner shareholder thread but the Nazi mods preferred that you not see the scam for what VMC is.

@ magzy. kodemage is actually one of my friends who was helping me confirm that all of the boards are actually doa. he has no more in his possession as i was just letting him hold the 14th board for a few days. i grabbed it back as i am now trying to get them all exchanged for working boards. 

thanks for clearing this up. I'll update the front page.

A long list of excuses on refunds from Ken - but all refunds have been sent (unless they haven't)

January 30, 2014, 02:25:51 AM
We have a back log in refunds and are processing those as fast as we can.  If you have requested a refund from customer support then it is being worked on.

February 05, 2014, 01:11:34 AM »
That should have been processed, please contact customer service and tell them it has been 7 weeks.

February 05, 2014, 11:04:02 PM »
We had a little problem in December with BTC processing, so all Bitcoin refunds have to be checked, so that may be the hold up.  I will look into why you refund has not be sent.

February 27, 2014, 07:13:29 PM »
Virtual Mining is currently processing and confirming pre-order refund requests.

March 10, 2014, 12:10:40 AM »
Refund to you ASAP.

March 11, 2014, 01:28:16 AM »
I have just hired a new customer service rep.

March 17, 2014, 03:57:11 PM »
Refunds will be processed in 2-4 weeks.

April 01, 2014, 07:29:34 PM »
Me:Ken, Given that refunds will never be processed, I'll take this deal to accept product from you instead of a refund.
Ken: I don't think so, we will just send you a refund.

April 07, 2014, 02:26:10 PM »
We will be issuing you a check soon.

April 22, 2014, 05:49:22 PM »
We are sending out your check today.

April 22, 2014, 06:05:53 PM »
@Magzy We are starting today to issue refunds including your check today.

Edit:  @Magzy  In getting your check ready, we found in our records that we have already issued our check number 123 on 2/17/14 to you.  That check has not cleared our bank, so we are put a stop payment on that check and re-issuing another check to you.

from me: April 23, 2014, 12:07:29 AM
No more false promises please.
This needs to be sent with a tracking number and a signature - I am happy to pay for this additional cost. Deduct it from the $769
OR the BTC address above I will then go through my post history and clean up any posts accusing VMC of scams et-al

April 23, 2014, 12:09:40 AM »
It has already been mailed today.

Sent to: kslaughter on: April 23, 2014, 12:12:52 AM »
So Given that I am at the bottom of the list as per your post 2 weeks ago, all refunds have been given now?

No Response fron Ken

Sent from kslaughter: April 23 01:22:21 AM »
No, I moved you to the so that you would STFU.

Well, ken, I'm not going to STFU until I get my money back in my bank.

---
Your order with the reference PIDNLSMFM - Shipped
 
Thank you for shopping with VMC Shop!

Your order with the reference PIDNLSMFM has been shipped.
You will soon receive a URL to track the delivery progress of your package.
 
You can review your order and download your invoice from the "Order history" section of your customer account by clicking "My account" on our shop.

If you have a guest account, you can follow your order via the "Guest Tracking" section on our shop.
---

Hooray, let's see if it also arrives.

ken said before that he 'bought the chips" (from hashfast), "bought the PCB" (this seems to indicate that the finished pcb was bought from hashfast, rather than custom-fabricated), and that at least one assembly house they used is the same one used by hashfast.

it really sounds like ACTM paid hashfast to "build" them boards rather than admit to simply buying them.  More proof of the assembly and purchase process could clarify this easily, but the financial reports (the easiest way to know) are more than 3 weeks overdue

Update [April 24 2014] 
Ken has sent the refund check. He says that he posted one back in Feb that has not been cashed. So he's cancelled it and sent a new one today. I asked for it to be sent recorded delivery but it had already been sent. When I asked him about ask the other refunds from other customers he relented that he bumped me to the top of the list to get me to stfu. I will only stfu once everyone who asked for a refund gets a refund.

We are still waiting on our refund.  Our order date was 2013-11-29.  We paid cash with a bank wire.  We waited until February to ask for a refund.  Still no refund and no updates as when or if we will ever see our money again.  I've never had a customer experience this bad in 30 plus years working in IT.

You can try pm kslaughter he will get back but it will be full of bs and false promises. It's only by 'trolling' (read being persistent) that I have at least got any traction on this. I agree that it's the worst customer service ever. But you should also try calling them. They will answer but all refund processing is done by ken.

It seems there are still other people not getting refunds as promised by Ken and VMC.

someone from China contacted me on PM asking for help because English isn't their first language.

@Ken, If people are asking for refunds then refund them instead of taking advantage of their inability to argue the toss with you.

Emkay47 from India has been waiting 4 weeks for his miners - of which you have personally cost him a large swathe of money.

No one in their right mind will EVER do business with your company if this is the treatment you serve out.

+10000
It will not matter how cheap ActM's gold rush miners are. People will not order from Ken because it will be a HUGE gamble with money.
If I were interested in buying a miner I would simply buy a more expensive one ($/gh wise), but from a company with better reputation.
Ken's inability to deliver products and refunds will be the downfall of ActM.

I'm so embarrassed. Ken you might want to hire someone who knows customer service and logistics. It's worth giving up a million restricted shares for someone that can give us a chance of surviving.

Please don't be penny wise and pound foolish, we need customers for our long term prosperity, but why do this? Why make every customer hate us?

So this gold rush card looks good on paper $/GH and it's "in stock" as we speak according to ken.

However, a cursory glance at the VMC website: http://virtualminingcorp.com/shop1/index.php?controller=search&orderby=position&orderway=desc&search_query=gold+rush&submit_search=Search

http://img2.wikia.nocookie.net/__cb20130404002216/irategamerdoesnotsuck/images/2/2f/Tumbleweed.gif






But to give him credit, If/when they ever do appear then expect the following...

https://farm4.static.flickr.com/3306/3578190769_581bf72445_m.jpg

Quote from: rogerli9 on Today at 01:19:20 PM

Added to front page

Update [April 26 2014]  - current status of the prospector customers that have made their order status known to me.

Of the 30 known Prospector boards ordered from VMC:

15 Delivered are dead on arrival - still waiting for replacement - (computerjesus/ Kodemadge)
4 didn't get delivered - waiting for 25 days (emjay47)
4 delivered and working. (2 to bargraphics & 2 to 'unknown user')
1 Delivered (of 5) waiting for confirmation of working unit (emjay47)
6 ordered by rogerli9 (ordered 2014-04-11 - 2 weeks ago) not posted.

It's clear to anyone that VMC is royally shafting anyone who crosses the paths with them. Even bargraphics working 2 prospectors are habitually failing:  http://eligius.st/~wizkid057/newstats/userstats.php/1FscNBYzd5CqDzUVQ9YapLQNtLbswkM4NL

Of the 30 known Prospector boards sold by VMC only 3 are up and running (10%)
So by definition the above image should technically be:
https://i.imgur.com/e2ZPYs4.png

http://virtualminingcorp.com/shop1/index.php?id_product=22&controller=product#/fh_exp_case_16_pcie_slots-no_expansion_case/fh_128ghs_module_a-768gh_800_watts
768GH/$9000  - SWEET

definitely a great looking product! XD

perhaps Ken and his entire staff do not yet realise that going to http://virtualminingcorp.com/   shows a ton of different products and none of these are actually for sale? The only product for sale is almost impossible to find and differentiate from all the other cancelled gear unless you have the direct link

There is a 90% chance that the unit will not get posted, not arrive or be dead on arrival. Then there will be a 0% chance of getting a refund.

Why would anyone order a unit from this pretend company?

I personally believe that ActM should just turn off their homepage.
No single person in their right mind will buy from them anyway, just ship to those who paid already and refund those who should have it and focus 100% on mining.

Why? This way maybe they can get some suckers to pay for that so they can have funds to pay refunds.

on that basis, if anyone is awaiting a refund post it here and I will update the front page to keep a running total of refund stats on VMC.

Ken says he's honoring refunds but I know people who have been asking for a long time for their money back.

moar screwing over

another satisfied customer

New Gold rush cards in stock:

http://virtualminingcorp.com/shop1/index.php?id_product=41&controller=product

pray that if you order this you will not be scammed like everyone else.

Please post your experience good or bad.

Hey Magzy
i am going to transfer my 6 prospector order to 6 of the gold rush cards. I will tell you if they actually ship them or if it was a lie like my 6 prospectors.
Thanks Roger

Good luck.

With any luck ken will be watching this thread and will do the right thing.

Let's hope

http://www.woodlaw.com/cases/virtual-mining-corporation-and-active-mining-corporation :)

Very interesting.

Why would one want to contact that law firm and tell their story of being ripped off by VMC?

To what end would it serve?

To put ken where his place is (behind bars) and so that shareholders could recoup any milibits that then can get from him. And also to teach others to stop playing with customers money and orders.

The same company is doing a class action against BFL so I would guess yes if they can get a list of customers who have been defrauded.

http://www.woodlaw.com/sites/default/files/casedocs/2014-04-04%20Complaint.pdf

The active mining thread is going ape over this - they are very disgruntled.

They just went through and deleted about 7 of my posts while accusing me of telling lies to woodlaw. Idiots got to idiot.

Yay we can get our 429 BTC back. https://blockchain.info/address/16yTynjmSe5bsRGykDaaCL5bm2pxiEfcqP.
And the dividends 121 BTC for a total of 550 BTC.

Oh wait thats .000055 per share. I guess it puts Ken in jail but we can at least let the company try to succeed. At this point its just pennies we are loosing if we let this play out so why not see if Ken can pull this off?

Are you a shareholder? Ken will never pull this off. He will never pay the bitcoins that people spent on shares. Never!

The Missouri securities investigation is for real.
They are also investigating VMC and Ken himself.

Any disgruntled shareholders and customers are encouraged to contact make contact with the MSD.

https://i.imgur.com/MRJiuOB.jpg

Just an update for all of you guys.
Ken has told me that my 6 prospectors are staying as prospectors and that they have been shipped according to his project manager.
I will give you an update once i get tracking.

They have been shipped?
Lol, I belive that when you get them.
Putting stuff in boxes is just too damn hard to do for ActM. Accepting money on other hand is something they are great at.

Update [April 30 2014]
The refund check (Now cancelled)Sent in Feb turned up today.
 postmark confirms it was sent in Feb and the check number confirms with what ken said it was on pm. So I can't blame him for this delay. The replacement check should arrive soon.

If ken could have just communicated this postage it would have avoided a whole rigmarole for the past 2 months.

In any case I unreservedly apologise to ken in light of this check arriving when all the evidence was pointing to a scam.

There is hope for ken after all... When I get my money

i am hoping it isn't bullshit, most likely it is.
They are good at accepting money
but it's too damn difficult to pack the prospectors into boxes and ship them haha
Well i will tell you tomorrow if i get tracking  

So will you withdraw your comments and actions that have undoubtedly effected ACTM?

You are going to have a whole bunch of posts to edit....

Once the refund materialises and is cashed... With pleasure

curious how or why it took almost two months for the cheque to arrive? he should really be sending via registered mail for tracking and verification of delivery

For the same reason the reviewer at CoinDesk got a bunch of bad checks:  http://www.coindesk.com/mining-hardware-companies-miners-roundup/

TL;DR after CoinDesk guy asked for a refund:

Just to update -

emkay47 is claiming to have recieved his remaining Prospector Boards. No word on the functionality of said boards yet.

Update from Emkay47

and from my side still no tracking

Update [May 1 2014]
Of the 31 known Prospector boards ordered from VMC:

15 Delivered are dead on arrival - still waiting for replacement - (computerjesus/ Kodemadge)
4 delivered and working. (2 to bargraphics & 2 to 'unknown user')
5 Delivered - waited 30 days - 3 DOA,  2  confirmed working (one of these at only 300GH/S) by (emjay47)
6 ordered by rogerli9 (ordered 2014-04-11 - 3 weeks ago) Tracking confirmation - TBA
1 orderd by VinceSaimos - 2.5 weeks ago today - yet to be posted

Refunds:
@Magzy-  still waiting "has been posted"

@metalchain - Still waiting - I sent PM to Ken many times. He always reply to me "We will ~~, ASAP~~~, Quickly~~~, next week~~~"

@cryptoconomist- still waiting  - "Two weeks ago on a Friday I spoke to him again and he  literally promised me he was going to ship my order on the following Monday, but haven't heard from him. Since then, when I log into my account, my initial order has now been moved to "refund" status and my new order to "cancelled" which contradicts what Ken and I discussed.  I wrote so many emails to him and to the Active Mining threads but my posts keep getting deleted"

@meccaflare0 - still waiting "ken owes me like $x"

@greek_hephaestus - unknown  -"Thank you very much Magzy for your suggestion . I will do it in a few days. [contact the AG] First I send one more message to VMC. Thank's again."

@coindesk - http://www.coindesk.com/mining-hardware-companies-miners-roundup/

Have any Fast Hash One Gold Rush units been shipped? Any information posted on these?

posted 5 mins before your post:


No one I know of has ordered one yet.

33 Items in stock as of now.

I would be very careful throwing your money at VMC.

Going off the last batch, it will take ages for them to process payment, and about 1 month to post. Then there's a risk that the cards will be used cards in their mining farm with DOA problems. (abut 60% DOA rate)

Then there's the shitfight in getting a replacement or refund...

No one knows if they are in stock or not (there's no pics of units or assembly line) - this could just be a money raising exercise to fund their data center and you will get shaftd like everyone else.

If ken wants to provide pics and info about the conception of these boards then that will serve him well.

Hi everyone,
I'm trying understand business policy of VMC
I'm waiting for refund since february this year
there is no chance to get back my money??
I'm from Poland and I don't have idea how to
get back my money .
From VMC i hear only empty words
refund start within 2-4 weeks and there is no check
after 2 months now I'm pissed off
and now I'm searching for lawyer in U.S. maybe he(she) help me .
Who can do something or if anyone have any idea how we can
do something with it .
another idea is group lawsuit?
Sorry for my english  :)
Regards
Leo

Leo, pm kslaughter tell him you have been waiting since Feb and that you require a refund. Or you can ask him to convert your order to a gold rush card that's currently in stock.

It's a complete mess and there are other people in the same situation.

If you're not happy you can join the class action (link on page 1)

And contact the Missouri securities division ( imgur link on page 1) to assist in their investigation into ken VMC and his mining venture active mining.

If you need any further help in understanding any of this then just shout..

Hi magzy
I'm PM to KSlaughter but He  send e information that refunded can't be convert on mining hardware
so I have to wait to check but I'm invest almous 10k dollars and like others I want my money back
I was stupid and I was belive in company with no proof now I'm without money and chance to giving it back
I have to do something
thanks for reply
Posted from Bitcointa.lk - #CwCrHSfeJPL2B5m9

https://bitcointalk.org/index.php?topic=462370.0

Ask about your refund in here.
I understand your situation.

Hey all i got 5 out of my 6 prospectors here today, Ken didn't give me any tracking but it is here with harness kits and everything. just missing the one now. I have the psu's and water coolers coming on monday. so i will tell you how many of them work.

Ken and VMC are starting to become better

Quoted for history. People actually pay a salary for this incompetence.

another refund added just now

another Refund:
@danielbrogren "Im also still waiting for my refund. The product ordered is one platinum 768GH

2014-02-10 08:13:40   Refund
2013-12-02 16:38:23   Payment accepted
2013-11-21 22:32:12   Awaiting bank wire payment
2013-11-21 22:32:12   Pre-Ordered"

And still nothing with VMC?
Is this silent before storm?? :)
anyone have any news??
Regards

Nope. I requested refund in end of January, still waiting.

Point of information - it took Ken 5 days to ship after I paid, and I think 2.5 weeks in total to arrive. Because it's shipping to the UK and UK customs are slow as shit.

It's not "working ok" - it's performing like a champion! Over spec on the hash-rate and 100% stable

I've now ordered two gold rush cards which took ken 1 day to ship after I paid, they haven't arrived yet.

Vinny, the one that took 5 days to arrive?  That one's not working :-\  Try telling the whole truth -- you'll be surprised how good it feels!

Chops, maybe something is going over my head, but you are quoting finlof there (not Vince)

qukkM claiming to have been waiting 5 months for a refund

Quoting them both, Vincent's the first quote, finlof the second.  The 5-day delivery mentioned by Vince went to finlof, who hasn't been able to get the board to work yet.  Vincent's delivery took ~ a month.

@finlof:  Did you ever get that board hashing?

I received my GR card within a week. It is underperforming but I got it quick... :)

How long did it take from payment to delivery?

Thanks

They arrived ... finally :P

http://i59.tinypic.com/28wdtee.jpg

It's almost been six month and still no refund from Ken. No one answers the phone or emails. Is anyone else getting any luck getting a hold of Ken or anyone at VMC.

Try their Securities thread or just use the following details to report them: https://bitcointalk.org/index.php?topic=462370.msg7272008#msg7272008

It appears that ken has gone underground and is not answering any mails or PM's.

It appears I was correct in cautioning against dealing with this fraud.

Thought this might be appropriate to post in this thread. Idk if you will get a refund but maybe.

OK .. so here's what this Ken Slaughter con artist did to me: ordered 10 of Fast-Hash One Gold Rush boards when they advertised 30 to be available in stock.

Three weeks later today, there's the usual no response. E-mails, messages on the order trail, their voicemails, you name it. Zilch. All demanding a refund or the equipment.

The bastards are just a bunch of con artists, and I have to admit I've been conned.  Still .. I've been around the world and in business long enough to not let anyone get away with even a single ounce of my gold, let alone $8,722.00 in cash.

So here's what I'm doing: contacted the Missouri Attorney General's office, who advised that this is a C 7 felony in Missouri, which carries a maximum prison sentence of 7 years.

I've also contacted a law firm in Missouri to bring criminal proceedings against these crooks; I don't care if it ends up costing $100K - I will see these bastards behind bars or get my money, damages and interest in full.

If anyone's interested in joining and has credible evidence (I know I do), then PM me.

They are giving out refunds now. Just fill out the form you were mailed and send it back to them... Albeit Bitcoin at current exchange rate... He's not a con artist just a fumbling fuckwit. No excuse though. He is breaking the law. Be persistent

Herein lies the problem: a) it was not a pre-order, but one for in-stock items and b) I have not received anything, at all, let alone a refund form.

Fumbling fuckwit, love that!!.  Still, he's picked the wrong man to mess with.

Much appreciate your feedback.

Here's some info,

Wood Law at the bottom would be closer to what you need I believe.

_______________________________________________________________________

MSD Info:

Shawn Hagerty
Investigator
Missouri Secretary of State, Securities Division
600 W. Main St., Box 1276
Jefferson City, MO  65102
573-526-3901
573-526-3124 (fax)
shawn.hagerty@sos.mo.gov (http://shawn.hagerty@sos.mo.gov)

Scott Johnson
Investigator
Missouri Secretary of State, Securities Division
600 W. Main St., Box 1276
Jefferson City, MO  65102
573-751-4704
scott.johnson@sos.mo.gov (http://scott.johnson@sos.mo.gov)

Missouri Securities Contact Information Page (http://www.sos.mo.gov/securities/contact.asp)

Wood Law Info:

http://www.woodlaw.com/cases/virtual-mining-corporation-and-active-mining-corporation (http://www.woodlaw.com/cases/virtual-mining-corporation-and-active-mining-corporation)
888-237-0999
1100 Main Street, Suite 1800, Kansas City, Missouri 64105
1736 E. Sunshine Street, Suite 209, Springfield, Missouri 65804

Almost 1 year waiting for hardware, waiting 3 months for a refund, and he builds/ships new hardware to new customers (Goldstrikes). I mean... WTF. Meanwhile he builds a 100 Th farm for his shareholders. I need to decide if it's time to cut the losses, or continue with litigation. I already contacted Wood Law, but if Ken keeps this ponzi going much longer, there may be nothing left by the time that goes through the courts. I am well familiar with Ponzis as a company I worked for was subcontracted by 2 of them in the past couple years and they stiffed us on the bill. There will be a lot of creditors in this case.. shareholders and customers etcetra. If this is what I think it is there is likely going to be nothing left and Ken will likely go to jail (unless he disappears with what's left.)

I gotta admit I was totally wrong about Ken.. it is sad because I wanted to give him a chance to deliver. :(

The only thing about the refunds is he makes you sign a form saying you'll take the current BTC exchange rate locked in at USD price for the hardware. It seems possible that I could sign that and send it to him, him still not give me a refund, and then bring it up in court that I agreed to a USD refund.

I imagine Wood Law will be pushing for a full BTC refund, as that is how it's worked in the past (HashFast case.) Hash Fast specifically promised refunds with full BTC, so I'm not sure if this case is different. I have read one person say that the orders have always been locked in USD as to getting refunds, but I'm not sure that's the case. Why would Ken make us sign that form then?

Can we get a count of how many people have been successful getting refunds? I have read hearsay that someone has already received a refund. So, we'll start the count with 1.

Can I get some opinions as what to do? I am not a lawyer... also I think someone should send Wood Law an email about this. I don't think it's good if we all contact them at once.. just one person send them the refund form and ask their opinion as what to do. I'm not sure why they haven't contacted me back yet after filling out that form on their website..

I got a refund but only 6 months and asking for it about 250 times.

Worst consumer experience ever.

Go to woodlaw - fill out their form and take the mother fucker ken to court and get him into prison where he can't cause any more shit ever again.

Well, honestly I don't want to take him to court. I know people will though, and it may be the only chance I have to recover the money. At this point I would prefer a refund, either in USD or full BTC, but this isn't the first time he has said he is giving out refunds, so I'm not sure how genuine the refund offer is. I would like to hear from anyone else that has actually been successful getting a refund. You are the only person so far that has said they have.

Hi
I created a new topic for clients VMC
to see how a new form of refund from VMC working,
I would like this to see if it is not the next form of scam,
here it is:
https://bitcointalk.org/index.php?topic=678050

BR