First 3 Avalon's order # 1245 are on their way:  |
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Do investors have to opt in, or is it automatic, when will this program be implemented, is this being done by bitfunder or AMC?
Kslaughter, can you answer the questions which were asked a few posts earlier, or at least provide a link to where we can find the information? This is being done by AMC, for our Investors. No action on the part of our Investors is required at this time. |
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Here are the Transaction IDs for the 2 Orders of Avalon chips.
51c441dd02c7743800e17c8cdc53c3af26a543da9cf2e989754950b7251ef907
1ba8f144d6dcc4c07dc89b8a4a4112e2d83e619f26f9f7426c65c09c1d8a90c7 Awesome news! That should give the jackals something to chew on for a while.  Please find some way to smooth things over with Ukyo. Conflict and negativity look bad and might hurt the stock price! Things are good with Ukyo. Had a Skype conversation last Friday. |
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Here are the Transaction IDs for the 2 Orders of Avalon chips. 51c441dd02c7743800e17c8cdc53c3af26a543da9cf2e989754950b7251ef907 1ba8f144d6dcc4c07dc89b8a4a4112e2d83e619f26f9f7426c65c09c1d8a90c7 Here is an image of the shopping cart showing the chips ordered from TSMC. Please note that the 4,500 BTC for the machines is really $4,500.  |
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Ken, have you considered purchasing any Bitfury 120's from Metabank?
Yes, However I am concerned about getting the units out of Russia. |
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Doh. REPUBLIC OF VANUATU
INTERNATIONAL COMPANIES ACT
NO. 32 OF 1992
...
RESITRICTIONS ON INTERNATIONAL COMPANIES
10. (1) An international company shall not:-
(a) carry on business in Vanuatu;
(b) acquire or own an interest in immovable property situate in
Vanuatu other than a lease referred to in subsection (2)(b);
(c) carry on banking business as defined by the Banking Act [Cap. 63]
(d) carry on trust business as defined by the Trust companies Act [Cap.69];
(e) carry on insurance business as defined by the Insurance Act [Cap. 82];
or
(f) carry on company management business;
(g) at any time have less than one member;
(h) make any invitation to the public to –
(i) subscribe for any shares or debentures in the company; or
(ii) deposit money with or lend money to the company.
I did find it amusing that they misspelled RESTRICTIONS in their document.  Yes, maybe I am naive, but what if Ken/AMC succeeds in getting delivery of those ASIC chips? What if he does use the money raised by offering shares to hire a good technical team and actually gets those mining rigs up and running? Yes, I agree that he did some things in a sloppy way, and tends to some hyperbole, but so far, I do not see any evidence of outright fraud, only lack of some transparency. And yes, I am an adult who took a risk by investing with AMC. But, all of the people who invested in AMC, (I hope) are aware of the risks involved in any and all Bitcoin ventures. I am curious why those who have no horse in this race seem obligated to save and educate those of us either stupid enough or who like gambling or are willing to take risks? Anyone with even a fraction of a bitcoin to their name has a horse in this race. If those that know what they're doing allow new bitcoin users to blindly get scammed into oblivion, what future does bitcoin really have? Not everyone can be a legal pro, or a technical pro, or a social pro, or a management pro. We all have our strengths and weaknesses. I tend to value insight from all walks, as it helps to form an overall picture of the risk involved in going with one investment or another. (and really, all bitcoin investments should be considered gambles more than anything.) What I dug up above is a minor legal oversight. Minor just because no one cares much. Even if the gov't of Vanuatu found out it'd probably be some pretty serious fines or something and AMC would just ignore them. All AMC has to do is re-incorporate on a different island elsewhere and they should be just fine.  Burnside, since you love doing it check this out: Seychelles. I actually applied there for BTC Trading Corp. Got denied.  Changing to Seychelles now, easier that Vanuatu. |
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Doh. REPUBLIC OF VANUATU
INTERNATIONAL COMPANIES ACT
NO. 32 OF 1992
...
RESITRICTIONS ON INTERNATIONAL COMPANIES
10. (1) An international company shall not:-
(a) carry on business in Vanuatu;
(b) acquire or own an interest in immovable property situate in
Vanuatu other than a lease referred to in subsection (2)(b);
(c) carry on banking business as defined by the Banking Act [Cap. 63]
(d) carry on trust business as defined by the Trust companies Act [Cap.69];
(e) carry on insurance business as defined by the Insurance Act [Cap. 82];
or
(f) carry on company management business;
(g) at any time have less than one member;
(h) make any invitation to the public to –
(i) subscribe for any shares or debentures in the company; or
(ii) deposit money with or lend money to the company.
I did find it amusing that they misspelled RESTRICTIONS in their document. Yes, maybe I am naive, but what if Ken/AMC succeeds in getting delivery of those ASIC chips? What if he does use the money raised by offering shares to hire a good technical team and actually gets those mining rigs up and running? Yes, I agree that he did some things in a sloppy way, and tends to some hyperbole, but so far, I do not see any evidence of outright fraud, only lack of some transparency. And yes, I am an adult who took a risk by investing with AMC. But, all of the people who invested in AMC, (I hope) are aware of the risks involved in any and all Bitcoin ventures. I am curious why those who have no horse in this race seem obligated to save and educate those of us either stupid enough or who like gambling or are willing to take risks? Anyone with even a fraction of a bitcoin to their name has a horse in this race. If those that know what they're doing allow new bitcoin users to blindly get scammed into oblivion, what future does bitcoin really have? Not everyone can be a legal pro, or a technical pro, or a social pro, or a management pro. We all have our strengths and weaknesses. I tend to value insight from all walks, as it helps to form an overall picture of the risk involved in going with one investment or another. (and really, all bitcoin investments should be considered gambles more than anything.) What I dug up above is a minor legal oversight. Minor just because no one cares much. Even if the gov't of Vanuatu found out it'd probably be some pretty serious fines or something and AMC would just ignore them. All AMC has to do is re-incorporate on a different island elsewhere and they should be just fine. Burnside, since you love doing it check this out: Seychelles. |
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A few quick questions, cause I can't seem to find the answers in the thread (apologies if I've missed the obvious posts):
1) Is the IPO stage over?
2) How do I buy AMC shares? Is bitfunder the only option?
3) What's the current price per share?
4) Do you have a projected dividend per share?
Only the First Batch, there may be up to 3 more batches if capital is needed. The next batch will be released at no less than .0008/share. Bitfunder is where they are traded. Check Bitfunder.com asset AMC No, but the first 6 Avalon's have a hash rate of 384,000 MH/s and use power of 3600 watts. You can use this link to calculate the current income: http://www.bitcoinx.com/profit/Just fill in the hash rate and power from above. Multiply the daily rate by 7, then divide the income by 40,000,000 and multiply it by the number of shares you own. This will be an estimate of your dividends if the machines were here today. |
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Minor. You seem so sure about your accusations. So i can take you seriously, what companies have you started and/or running currently? Thanks.
I am quite confident about my statements. They are made from experience dealing with the process in question. I have made no accusations other than saying that some statements are either misinformation or outright BS. I have also pointed out the classic way that pump and dumps used to be performed (and still are) on pink sheet penny stocks and shown the similarities to what is happening with this stock. As to what companies I have started and built, I will announce that when we have a fully functional product that people can buy that same day they pay for it. Just like the other companies I own outside of bitcoin. The more companies that start doing bitcoin businesses in a professional and honest way, the harder it will be for pre-order scams and other mickey mouse type businesses to operate and that will be better for BTC in the long run. I agree that starting and doing a bitcoin business in a professional and honest way is the way to go. That is why VMC is incorporated in Delaware, why we have a toll free number to contact us, a professional web page with all of our products listed, and why we will be providing a complete accounting of May's activity to Investors by June 15th. However since you have admitted to being some kind of competitor to VMC and or AMC, Investors on this thread can take your attacks with a grain of salt. |
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Ken, you should get in contact with the BitFury ASIC developers and see if you can buy any of their 65nm chips.
Thanks for the suggestion. |
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http://www.axs.net/AMC/AMC-Profit-Estimate.pngNow correct me if I'm wrong, but you entered 992 TERA-hash into that mining calculator...not gigahash. It also states that you're expecting 1600 BTC/day, but only ~3600 is currently generated each day. You expect to control ~45% of the total mining network? You don't even have a single functioning ASIC yet. This is our 24 month projection with a 40X times increase in the difficulty. We have gone from 384,000 MH/s on order to 5.651 TH/s on order in just one month. Since we are putting back 50% of the revenue back into purchasing more mining power we will cause an exponential growth of hashing power over the next 24 months. Of course the 992 TERA is just a projection. Also, should we get to 45% of the network hashing power, we would not add anymore hashing power until our control of the network falls back to 40%. LMAO. As an exercise for the reader who doesn't recognize what a complete fraud this is. Consider this. 45% of 992 TH = 446 TH Avalon power requirement. 10 W / GH. Power needed for 446 TH = 4.5 MW Are you building a power plant along with your imaginary silicon? One point you are missing, is we did not say that we are going to use Avalon chips for all of the 992 TH/s, so your calculation are a fraud. If fact I have told you over and over that we are working on a 45nm and a 28nm chip. Those chips will use 10X less power that Avalon's. |
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kslaughter: I'm interested to hear what is your view on the extent to which AMC is subject to the securities laws a US entity. Specifically, it's issuance of what seem to be equity investments denominated in BTC.
AMC has now been spun off as a foreign entity on a foreign exchange. We have also posted a PPM on bitfunder. Where did you incorporate? Where is the exchange incorporated? Cheers Burnside, like you told me, figure it out yourself. The stock exchange is on a RIPE address when you do a traceroute. |
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http://www.axs.net/AMC/AMC-Profit-Estimate.pngNow correct me if I'm wrong, but you entered 992 TERA-hash into that mining calculator...not gigahash. It also states that you're expecting 1600 BTC/day, but only ~3600 is currently generated each day. You expect to control ~45% of the total mining network? You don't even have a single functioning ASIC yet. This is our 24 month projection with a 40X times increase in the difficulty. We have gone from 384,000 MH/s on order to 5.651 TH/s on order in just one month. Since we are putting back 50% of the revenue back into purchasing more mining power we will cause an exponential growth of hashing power over the next 24 months. Of course the 992 TERA is just a projection. Also, should we get to 45% of the network hashing power, we would not add anymore hashing power until our control of the network falls back to 40%. |
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SPRINGFIELD, MO, – June 2, 2013 – VMC a manufacturer of the Fast-Hash Bitcoin Mining Machines has announced today that they have purchased a second full batch (10,000) of Avalon chips (Order # 10473) to build ~31 Fast-Hash-80's for AMC, this would bring AMC's machine total to ~71 units. The ~71 machines will bring the cooperatives hash power to ~5,650,816 MH/s, ~35,651 GH/s, or ~5.651 TH/s. Active Mining Corporation is a Vanuatu International Business Company DBA Active Mining Cooperative (AMC). You can use the link below to calculate the income: http://www.bitcoinx.com/profit/Estimated Hash Rate: 5,650,816 Estimated Power: ~60,000 Avalon Shopping Cart Screenshot: https://bitfunder.com/asset/AMC profile->images |
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Now that our First Batch of Early Adopter shares has sold out we are waiting for the Avalon machines to come in and start producing revenue. We will then start paying dividends to our Investors after the first week of mining with the Avalon's. Due to the fact that shares were selling with good demand at the .0008 price level, before Ukto of Bitfunder.Com forced us to reduce the price to a bargain level, we will only be releasing shares in batch 2 at no less than .0008 BTC.
Also, we are implementing our Investors Protection Program (IPP) for those Investors who purchased shares higher than .0005 after May 28, 2013 04:59 CDT and on or before May 31, 2013 14:59 CDT. IPP will reimburse our Long Term Investors the difference between the price they purchased their shares at, and the price of our shares on August 31, 2013 at 00:01 CDT or .0005 whichever is higher, only if the share price is below .0008 BTC on August 31, 2013 at 00:01 CDT. The Investor must still own the shares to be reimbursed. This program is being implemented due to Bitfunder.Com forcing us to price our shares at .0005, without due cause. Of course we will strive in the coming months to raise the share price and add shareholder value to the shares our Investors hold.
Why the 28th of May? I bought shares before the 28th at 0.0007, shouldnt I be also reimbursed? I didnt buy a lot at that price, so it's not a big deal for me, and I am in it for the long run, but I am just wondering why the cutoff is at that date. Yes, I know the price was higher the week before, then dropped back to .0005 due to market demand dropping. The shares were selling at .0005 before that date. I hope to drive the share price up so this won't be an issue for you or me. Let me think about this. I will post an update to the program should I extend it, which I am thinking about doing. Update: Added a group to the program. |
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Now that our First Batch of Early Adopter shares has sold out we are waiting for the Avalon machines to come in and start producing revenue. We will then start paying dividends to our Investors after the first week of mining with the Avalon's. Due to the fact that shares were selling with good demand at the .0008 price level, before Ukto of Bitfunder.Com forced us to reduce the price to a bargain level, we will only be releasing shares in batch 2 at no less than .0008 BTC.
Also, we are implementing our Investors Protection Program (IPP) for those Investors who purchased shares higher than .0005 after May 28, 2013 04:59 CDT and on or before May 31, 2013 14:59 CDT. IPP will reimburse our Long Term Investors the difference between the price they purchased their shares at, and the price of our shares on August 31, 2013 at 00:01 CDT or .0005 whichever is higher, only if the share price is below .0008 BTC on August 31, 2013 at 00:01 CDT. The Investor must still own the shares to be reimbursed. This program is being implemented due to Bitfunder.Com forcing us to price our shares at .0005, without due cause. Of course we will strive in the coming months to raise the share price and add shareholder value to the shares our Investors hold.
Update:
The group after May 28, 2013 04:59 CDT and before May 31, 15:59 CDT are add to the above group.
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SPRINGFIELD, MO, – June 2, 2013 – VMC a manufacturer of the Fast-Hash Bitcoin Mining Machines has announced today that they have purchased a second full batch (10,000) of Avalon chips (Order # 10473) to build ~31 Fast-Hash-80's for AMC, this would bring AMC's machine total to ~71 units. The ~71 machines will bring the cooperatives hash power to ~5,650,816 MH/s, ~35,651 GH/s, or ~5.651 TH/s. Active Mining Corporation is a Vanuatu International Business Company DBA Active Mining Cooperative (AMC). You can use the link below to calculate the income: http://www.bitcoinx.com/profit/Estimated Hash Rate: 5,650,816 Estimated Power: ~60,000 Avalon Shopping Cart Screenshot: https://bitfunder.com/asset/AMC profile->images |
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As is often the case, answers lead to more questions, but I won't flood the thread with them. Best of luck!
Thanks. |
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kslaughter: I'm interested to hear what is your view on the extent to which AMC is subject to the securities laws a US entity. Specifically, it's issuance of what seem to be equity investments denominated in BTC.
AMC has now been spun off as a foreign entity on a foreign exchange. We have also posted a PPM on bitfunder. |
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Why did the shares just dissappear ?
Ukto, ask me to remove the ask while we had a conversation. |
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