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Thanks, I am pretty good too, but a little rusty.
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AMC Accounting For May.  I think the Credit/Debit columns are reversed. My accounting is a little rusty, won't be that way for long, but I think in the assets in accounting the debits increase the account if I remember correctly. |
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AMC Accounting For May. |
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Thanks for initiating the dividends Ken.
What are your plans for the frequency of future payouts? Daily? Weekly?
Weekly, week ends Tuesday 23:59 UTC, dividends paid within 48 hours of that date. |
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Dividends of 0.00000077/share have been paid.
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Is a 10% holdback stipulated in the contract? I apologize for the request for edification but I'm driving and not in a position to properly review it.
Mining Expenses:
Expenses will only be charged for the following direct mining equipment expenses: Utilities, Equipment Maintenance and Repair, Mining Equipment Space Rental, Internet Access, Mining Equipment, System Administration and Maintenance, Mining Pool Fees, and any other necessary direct miscellaneous mining equipment operational expenses. Total Mining Expense will not exceed 10% of the Yearly Gross Revenue. I think Ken is holding back 10% "just in case", the correct amount for expenses should be accounted for later and earnings corrected I believe.  Yes, we will account for the exact expenses in the accounting after the end of the month. |
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Daily Earning Report and Payment For Dividends Less a 10% Expenses Hold Back.  |
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So whats the news on Dividends tomorrow , any estimates people Sometime today, running 143.58% luck, so trying to get a little more in so the dividend will be higher before we pay out the dividends. |
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The best way to buy shares of AMC is through bitfunder.com The price is set based upon supply and demand as determined by the bids and asking prices of people who use Bitfunder. Hello,
Is it possible to buy shares directly to AMC ?
(...)
Thank you
Actually, that's a very good question. There should be a way to buy shares directly from Ken.Imagine he posts a batch at 0.0008 and gets immediately undercut at prices like 0.000799, etc, from flippers. Even if cheaper, I don't want to buy from them, I want to buy from Ken. AMC doesn't see a satoshi from shares bought from flippers, but any shares bought from Ken is a direct AMC investment. In the end, any shareholder is getting more bang for their BTC by buying shares directly from Ken, as that translates to AMC growth, while buying from flippers does not. There is another side to the coin which I think few are taking into account. When we are talking in the real world with new share issues, IPO's and similar - the large investors 99.99999% are able to buy shares cheaper than retail investors. So, myself for example, I am serious looking at buying a very large number of shares in AMC, but I would not go and by 2,000,000 shares right now from the market (bitfunder) for these reasons: 1. I would be driving the price up in order to soak up 2,000,000 shares - which initially looks good for investors, bad for me, but the price will most likely drop again anyway. 2. Why would I pay more than .0008 on the market, when I know that is the limit set by kslaughter 3. As a large investor, I would most certainly want and hope for a discounted rate than the present market rate. How that would happen is probably best as a private transaction, but WITH public knowledge. Nothing under the table. I am a firm believer in that. Then, as it is a private transaction, those shares released would then need to be stapled on to the market again. My 2 satoshi's as an investor. And yes, I am seriously interested in a large investment. .0008 is the lower limit not the upper limit. |
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Todays Earnings Report: |
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One other income stream although related to hardware sales, is chip sales. Avalon sold ~7.5 Million Dollars in chips is less than 2 months, should AMC have a better chip it could do the same or better. So a 10% royalty whould bring in ~$750,000 to AMC confers and that would be about 0.01875/share or 22.218272307 X the current price of .00084390.
That sounds like a great idea, but you need to release the information of the chips asap so that third party individuals (like burnin and bkkcoins) start designing boards for the chips We will be designing the boards for the chips. However, the chips are still in R & D. |
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Guys, the problem is pretty simple actually. AMC needs to sell more shares, as it only sold 5M out of the initial 15M. --> AMC tries to sell more shares, at market price. --> AMC keeps being undercut. --> AMC thus, doesn't sell anything, or very little. --> AMC doesn't get the additional funds it needs, at the time it needs. --> AMC dies of starvation. Please provide ways to solve this problem. My solution is a primary/secondary market like everyone else is doing outside bitcoin. If Ken wants to sell @ .0008, but people undercut him, it means there is not enough demand for the share at that price. Then he needs to lower the price, it's quite simple actually. Any way of distorting the market by selling behind closed doors, will eventually affect the share price and shareholders in a negative way. I don't want to be a part of "what will be ken's next move" - speculation game once again. And that is what it will become if we have closed market selling. If someone wanted to buy 1 millions shares at 0.0008 BTC then there would obviously be demand. As Vbs points out, Ken selling share privately is a good thing for AMC and it's investors and is a bad thing ONLY for flippers. It doesn't surprise me that some people would be against that, as it would cut into their profits. Flippers do not care whether or not AMC succeeds and likewise, I don't care in the slightest if selling shares privately cuts flippers profits. Some people on these forums treat the market like some religious people treat their god. The market is not infallible, in fact, it's quite easily manipulated. +1 for Ken selling shares privately if needed. He does not need to sell them privately, it ends up the same as putting them on open market at the correct price. So what if the flippers bail out and undercut him for a day, it'll iron itself out if he prices them realistically. Well, if he needed the money to buy hardware, it would mean he would have to sell more shares than intended in order to purchase that hardware. That would mean less hardware could be bought, which means a lower percentage of the network hash rate, which leads to lower mining profits, which leads to lower dividends. How is that good for long term investors? Investors... most of the people in here are speculators that just wanna see the high price of AMC maintained. The fact is that his original plan only called for the funding necessary raised by selling shares at .0005. If AMC is ready to raise more money quickly, all he needs to do is stick with his plan. No need for illusory BF features. Buy and hold or flipping as soon as possible: buying assets for a profit is always speculation, but on the short term side, share price is relevant right here and now, while for the long term, current share price is irrelevant, except for peace of mind or changing your mind. And other thoughts I want to spew: Buying a mining asset, is mainly speculation on future dividends since the underlying asset is not does not retain its value well: it's buying hardware which becomes obsolete in a short time frame and which you mine till it die or direct costs become too high. So your money is burned and then you depend on machines, management and environment. An interesting feature though of AMC (and some other miners), is structural withholding part of the profits to reinvest in new hardware. This should give enough purchasing power to gain and retain a share of the daily minted BTC. Dreaming on, this could render a gross 1188 satoshi @ 33% @ 25 BTC per block per share. Net revenue will decline by marginal costs of mining. I see a share in the cooperative mainly as a right to this potential revenue stream. And next to reinvestment, there should be some indirect profit on hardware sales by VMC through royalties. However, BTC-revenues from hardware are declining fast, so it could be an interesting venture from a fiat perspective, but isn't for a BTC-denominated share. If someone is more optimistic on the (time frame of the) ROI, I'll sell. And if someone is more pessimistic, I'll buy. Or I do anything I feel like, for tons of other, irrational reasons. One other income stream although related to hardware sales, is chip sales. Avalon sold ~7.5 Million Dollars in chips is less than 2 months, should AMC have a better chip it could do the same or better. So a 10% royalty whould bring in ~$750,000 to AMC confers and that would be about 0.01875/share or 22.218272307 X the current price of .00084390. |
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Trying to gauge if there's interest from you all for me to get into running a group buy for BFL chips?
Please let me know.
I might be interested. Do they have a reference board? |
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Guys, the problem is pretty simple actually. AMC needs to sell more shares, as it only sold 5M out of the initial 15M. --> AMC tries to sell more shares, at market price. --> AMC keeps being undercut. --> AMC thus, doesn't sell anything, or very little. --> AMC doesn't get the additional funds it needs, at the time it needs. --> AMC dies of starvation.Please provide ways to solve the problem entitled "death by starvation". My solution is an OPEN primary/secondary market like everyone else is doing outside bitcoin. I like this idea: more choice for market participants and it is quite transparant. One can only spend his BTC once on a asset and investment it does matter in whose pockets your money ends up. Great Idea Joris. Now get Ukto to do it. Well, he is off to who know where do some other deal, not taking care of bitfunder. |
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For example, lets say Ken needs to sell 1,000,000 shares now for the (imminent) purchase of materials to build Avalon boards/ new order of chips/ whatever: - He puts them to sell on BitFunder at 0.0008.
- Next minute, he is immediately undercut at 10,000@0.00079999 by someone, and the other minute at 5,000@0.00079998 by another guy, etc.
- This keeps going and after a week he has sold nothing, while the undercutters were steadily selling their shares.
To me it is obvious that he should sell the shares on an open market, ALWAYS. If Ken start selling on a "closed market", the share price will get an artificial roof @ .0008. Since no one would ever want to bid higher than .0008. Why would they? You can buy shares directly from Ken for that price. I don't see how it is good for the shareholders that Ken sets the maximum price of the share. In my eyes that is pure manipulation. I will not sell any shares in a private transaction lower than the current market price. As I have said, I want to increase shareholder value which is indicated by the spot price. Shareholders do not have to worry, as I am in for the long run and want to increase the value of the company. |
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Trademark semantics aside, I am way more interested in your response as you why you hold so many domains (all registered with Can2It.com, LLC which is not an LLC as far as I can tell and never was as there would still be a record of its dissolution) and apparent ownership of several businesses. There is no consistency with anything you have under you. How do we know what you say is true at all with this track record?
Also, why can't they post a copy of the chip order? You can find the chip order here: https://bitfunder.com/asset/AMC profile->images Just going to avoid my questions about your other businesses then? No, I am not trying to avoid any of you questions, At the moment I have a turn key web hosting business. Most of the domains, I have registered are not for businesses I have now. They are just digital real estate that I hold for future projects or products. Yes, can2it was the web hosting business project, that I tried. I didn't really find a good nitch for this business, so it really didn't take off as I had planned. I do have customers on the turn key web hosting business, if you would like to get started in the web hosting business and be another godaddy, I can get you going in about 5 minutes. In fact our site http://www.virtualminingcorp.com is running on top of the turn key web hosting business application. |
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Current Earnings Report: |
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Trademark semantics aside, I am way more interested in your response as you why you hold so many domains (all registered with Can2It.com, LLC which is not an LLC as far as I can tell and never was as there would still be a record of its dissolution) and apparent ownership of several businesses. There is no consistency with anything you have under you. How do we know what you say is true at all with this track record?
Also, why can't they post a copy of the chip order? You can find the chip order here: https://bitfunder.com/asset/AMC profile->images |
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Here is the ~Second 24 hours, not as lucky as the first 24.  Picture is dead....  I can see it just fine. It is a png file. Should work in any browser. |
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