Yes, I am check the shopping cart everyday and will post a press release when the status changes in the shopping cart. |
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AMC Offering:
AMC's offering is comprised of 100,000,000 shares in total.
1 share of AMC on BitFunder represents 1/100,000,000th of 100% of the monthly profits after all expenses.
AMC shares offer no voting rights. Shares of AMC on BitFunder do not represent real world shares of the
company. The shares are solely a distribution mechanism for rights to profits.
20,000,000 shares will be retained by AMC to maintain a growth and expansion fund.
As of the time of this writing, up to 40,000,000 will be released over time to the public on a varying
time scale as capital is required to complete the project. Any remaining shares not included in the
IPO are owned/maintained/controlled by AMC. These shares will be used at the issuers discretion
for any uses deemed fit. These uses are not limited to, but may include employment.
Shares not issued are owned by AMC which is indirectly implying that the founders are owning more than 60% of the shares. I'm also wondering what you mean by R&D. Aren't the miners developed by VMC which, as you have stated before, is a different company. Of the 100% of shares. 20% are held by AMC for growth/reinvestment (a horrible way to do things but sadly common - shares should represent ownership not be a crude way to determine the percentage of profits dividended), 40% are potentially for sale to the public - with unsold ones the same as the first 20% The other 40% would be the founder's own shares. There's thus three ways to look at it: If you look at divdends then the founder receives 40% of all dividends regardless of how many shares are sold. If you look at distributed profits (i.e. the dividends that end up NOT going back to AMC) then before any shares were sold he received 100% (obviously) and when all 40% public ones are sold he receives 50%. If you look at actual ownership then he owns 100% initially falling to 60% if all public shares are sold. Right now if any profits were made he'd be entitled to the vast majority of that portion of them that was destined to end anywhere other than in AMC itself - as his personal 40% outweigh the portion actually sold. How well the shares do depend mainly on how profits are calculated - which is where you have to hope he's generous as that largely depends on how VMC decides to define its cost price that it charges to AMC. And of course VMC isn't responsible to investors so doesn't have to make any disclosure in respect of that. Bottomline is that he DOES own more than 60% - dropping to exactly 60% if/when all 40% of public shares are sold. Reason for that is the ownership the shares owned by AMC. Those are owned by whoever owns AMC. Shareholders do NOT own AMC (that's explicit in the contract) so do not any part of those shares. In practical terms, assuming good faith, the actual effective owned percentage of profits is 50% if all public shares are sold. Nice to hear from you Deprived, You have most of it right. However, I don't receive dividends on most of my 40% for the next 12 months.  The dividends are going to the Investors and AMC. AMC will be using all of the dividends it receives for R & D, and purchasing of more hashing power for the cooperative per the description posted on Bitfunder. The contract between AMC and VMC that you forced me to write, which turned out to be a good thing and I want to thank you for that. This contract which is posted on Bitfunder causes VMC to have a fiduciary responsibility to AMC. Wikipedia: "In such a relation good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trusts." https://en.wikipedia.org/wiki/Fiduciary |
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So assuming AMC purchases all happen on schedule. What total % of the 3660 daily coins should we be factoring into the per share dividend calculation? I realize we can't know what the total hash rate of the network is. But similarly to the Asicminer evaluations estimating 30% percent perpetually, what percent are we thinking AMC will hold?
Would it be crazy to assume 10%? At 10%, that would be 133590 btc/year or .00333975 per share (only the first 40,000,000 receive dividends until .0005 is paid, I believe). If you pattern the share valuation after Asicminer (where dividends are paying roughly 50% of the stock price annually) then @ 10%, AMC shares would be worth roughly .0066795 each. (roughly 8 times more than there current price on BitFunder)
This is an honest question, not an attempt to pump the stock price. I'm seriously considering a purchase and want to make sure I'm thinking clearly.
I think you are very close. I figured the amount with the hashing power we have purchased with a 50% reinvestment of the income stream back into new equipment to make up for the difficulty increase to be .01 BTC. Of course this could be more or less depending on how the hashing rate increases over the time frame after we receive the equipment. So I think your estimate is good and conservative. |
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Something completely unrelated: Who is the guy buying batches of 50,000 shares at 0.000799999? I appreciate that someone is supporting the current price level but what's in it for him/her?
I do not know who this person is. I do know that in a typical pump and dump you make the market this way: Buy up a lot of shares at almost nothing (or just issue them if you create new company). Start hyping with vague promises of huge finds (this is why mining/oil/diamonds are great for these people). Find greedy people that will ignore warnings because they want to get rich easy. Push the market higher on a THINLY traded stock by making it appear heavily traded..... How do you do that? Well, you have tons of shares to sell right? And, you have plenty of money from the first suckers that came in right? So, how much does it cost you to buy shares at 0.00079999 and then also buy them back at 0.0008? 1 satoshi. How many times can you do this per each sucker that bought ONE share? 10,000 shares per share purchased and more if any fools actually step in and start buying (and help you with the PUMP). An NDA does NOT prevent revealing who you are talking to. It prevents both parties from giving away secrets that they may learn during the quoting process. Just a couple things to think about. Yes, a few things to think about. - I am happy to buy all the shares anyone wants to sell at .0007999 this keeps the speculators out of the market
- It is not the NDA but confidential information we don't want our competition to have.
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Dear fellow bitcoiners,
Please, don`t be blinded by ASICminer greed and think for yourself before investing in any bitcoin company. Would AMC deliver it's promises then this could be a potential good investment but the current state of affaire makes AMC succes dependable on to many outside factors. So be wary.
What has been bothering the most is Mr. Slaughter. Mr. Slaughter is being to mystical for my taste. Every announcement he has made has been either to vague or to general to double check (" major semiconductor company", "ISP company", ...). I also don’t believe he’s street smart enough, seeing how he has handled the IPO and the way he has been fending people who are questioning him.
AMC is a mining corporation, buying mining hardware to hash. We don’t know how many money the founders have invested but we do know that they are holding more than 60% of the share. For all i know the shareholders could be the one providing all the funds, making it a risk free investment for the the founders. I wouldn’t like to see another Ian Bakewell debacle happening here.
Please Mr. Slaughter don't take this personally this is just my impression based on the forum posts.
A coupe of Questions to Kslaughter:
*What's being invested by the founders and private shareholders? How do you justify owning more than 60% percent of the shares?
*What would happen if the price would rally ? Would you stop selling shares ?
*Are there any intentions of making shareholders boardmembers? This could potentially increase the trust in the company.
Stoasis
edit: layout
I don't own 60% of the shares, you need to read the description a little closer. We want the stock to rally, we want investors to have a good "Long Term Investment". Selling shares depends on our capital needs to buy more equipment, R & D, and other expenses related to mining. When the Avalon's get here they will start generating capital, so I see the need for selling shares decreasing in the future. Board seats are sure possible in the future. |
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Help me out here. You've sold 2M shares at 0.0005 for a total of 1000 BTC. You bought over 1000 BTC worth of avalon chips.
How much other capital do you have?
Because I don't see how you have funds to build boards for the avalon chips, let alone pay for masks on your own device.
Just sit back, the plan will be revealed soon and you will see the light. |
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From what I have learned about mining hardware, I have learned to hate the the word "pre-order". Not that I can afford to pre-order  I am surprised that none of the big boys, asus, dell, hp, etc., has entered the mining hardware market and we have to deal with amateurs such as avalon and butterfly labs. I am sure any one of them big boys can get all the miner-wanna-be what they want and more within a month if they want to. I am looking forward to the day where I can go to Fry's of BestBuy and get me a 100 TH/s mining box for $149 Yes, that would be nice, however I don't think that is going to happen soon. |
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It's in my opinion - though biased since I am invested in AMC - that Mr. Slaughter, albeit strong in what they do (managing a profitable business, design/manufactuer chips?) have never run a public company before, are not underwriters, and/or were not prepared for what was expected. I for one can see past that.
Then again we may all go down in flames... That's to be expected with high risk investments though, and I can deal with being wrong in the off chance that this turns out to be insanely profitable for all parties.
I do NOT want to miss ASICminer 2.0
While Mr. Slaughter has done what he can to show transparency with his companies, a little more info would be appreciated. For instance, this "Major Semiconductor Company" has signed an NDA with VMC/AMC. Could we get the name of the company and very general plans on what is to come from this NDA? Competition is always great for the consumer but I do think that considering AMC as "ASICMiner 2.0" is premature. Not at this time. |
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I bought @ .0005 and sold recently (realizing a 30% profit in 1 day), as great as that is, the AMC market smells a little fishy at the moment.
There are currently 55,523 bids for shares @ .000799990 - .000799999, and the current 200k+ ask is at .0008. Obviously this is the fund manager pumping the price.
I'm all for an artificial pump, it's the dump I'm weary of.
If you are holding shares, this might be a great opportunity to realize a profit. (after all, the fund manager was dumping 500k shares at a time @ .0005 as recently as yesterday).
My motivation of course is to pick up more shares @ .0005 (where I feel this fund is currently valued). That doesn't make what I'm saying incorrect ;-)
I would tend to agree with you. However, given the circumstances that a few parties submitted a petition to BitFunder to have AMC investigated due to what you mentioned a few days ago and what was said on this board, AMC has changed its actions to place static 500k blocks in increments of about .00005 from .0005 and up. Also as a response to the previous mentioned, Mr. Slaughter replied with this: So from the 40 million shares only 2 million have been sold?
If that's the case, I hope they don't sell the next batches at .0005 again?
I would not count on .0005 again, I don't see that happening unless there is a crazy demand for capital. I can't rule that out, but I don't see it happening. When the Avalon's get here and start mining there is going to be an inflow of capital to AMC from the 20 Million growth and expansion fund shares. It's in my opinion - though biased since I am invested in AMC - that Mr. Slaughter, albeit strong in what they do (managing a profitable business, design/manufactuer chips?) have never run a public company before and were not prepared for what was expected. I for one can see past that. Then again we may all go down in flames... That's to be expected with high risk investments though, and I can deal with being wrong in the off chance that this turns out to be insanely profitable for all parties. I do NOT want to miss ASICminer 2.0 Thanks lewicki for your opinion. This is a high risk investment which offers a very high return if we can pull off being the next ASICminer. I am going to do my best to make sure this does not go down in flames. One thing you can count on is I have the ability to turn a business around when things are not going in the right direction. I was able to turn around my ISP business when the Free internet services started taking a lot of my business. I was able to adapt to the current climate, then as the Free services dried up, I was able to have the ISP business grow for another 6 years until dial up internet dried up. This business is a little different, I don't expect those kind of problems, but there could be others. I will be ready for them if and when they come. |
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Laying it on thick and grasping for straws Rikur. Everyone knows you have a stick up your ass about AMC. Apparently registering a company in Delaware should now be invalidated, no?
Ignored
Just trying to help others. I don't know what's wrong in pointing out that having a company in Delaware doesn't really add transparency for an entity. The regulation of Delaware can also be beneficial for investors here, taxation being one of the benefits. Just wanted to point out that even if there is a company registered in Delaware, it doesn't mean that you should have much more trust in this venture outside what proof they have over at BitFunder. http://en.wikipedia.org/wiki/Corporate_havenYou are right, you need to base your trust on what we have shown to have done, like purchasing 10,000 Avalon chips with the funds we have raised on Bitfunder just like we said we would. |
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“Never argue with a fool, onlookers may not be able to tell the differance.” -Mark Twain
Nice quote! |
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SPRINGFIELD, MO, – May 28, 2013 – VMC a manufacturer of the Fast-Hash Bitcoin Mining Machines is announcing today that they have ordered (Order: #10409) a full batch (10,000) of Avalon chips to build ~29 Fast-Hash-80's for AMC should AMC provide the capital in the next few weeks, this would bring AMC machine total to 39 units. The 39 machines will bring the cooperatives hash power to 3,504,000 MH/s, 3,504 GH/s, or 3.504 TH/s. At the current Difficulty of 12,153,411.71 this will bring the estimated total revenue as of this writing to a total of $19,280.28 per day and a yearly amount of $5,398,450.75. AMC is a hybrid mining and development cooperative and a business unit of VMC.
This is obviously a misleading statement. It has no date on when the devices will be operational and the current difficulty is no where near where it will be when the devices get online. Therefore, your revenues would be somewhere in like of ~$4-5k per day and ~$1m per year. You realize linking the wikipedia.org article just proved my point. Also, you didn't mention anything about the overinflated valuation of a company that hasn't delivered anything yet. This company is not worth 8.5% of AsicMiner or even 1% of AsicMiner. You are right about the current difficulty not being where it is today, it either is going to be higher or lower, that is why in the statement if you would notice we say at the current Difficulty. I have to say, I think you are wrong about it being obviously misleading. We also say the estimated total revenue. You are right about it being over inflated valuation because investors see what value is to come. Linking to the wikipedia.org article proves my point as all of our statement are 100% true and always will be. |
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Be weary of typical pump and dumb, artificially raising price on bitfunder.com over the last few hours. In addition to press releases about hashing rates they don't have yet, typical scammy activity. They value their company at BTC80,000 when AsicMiner is at BTC1 million and they don't have the profits/revenue stream to back it up. Be very weary of investing.
Please read the definition of pump and dump here: http://en.wikipedia.org/wiki/Pump_and_dump First of all we are not making any false and misleading positive statements. All of our statement are true and are not misleading. We do have 6 Avalon's on order, we have 1,150 Avalon chips we are turning into hashing cards due in about 4-6 weeks, and we just ordered 10,000 Avalon chips to turn into hashing boards. We have not made any false or misleading statements. |
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These were written by AMC and posted to BitFunder. Are these press releases?
Yes |
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SPRINGFIELD, MO, – May 28, 2013 – VMC a manufacturer of the Fast-Hash Bitcoin Mining Machines is announcing today that they have ordered (Order: #10409) a full batch (10,000) of Avalon chips to build ~29 Fast-Hash-80's for AMC should AMC provide the capital in the next few weeks, this would bring AMC machine total to 39 units. The 39 machines will bring the cooperatives hash power to 3,504,000 MH/s, 3,504 GH/s, or 3.504 TH/s. At the current Difficulty of 12,153,411.71 this will bring the estimated total revenue as of this writing to a total of $19,280.28 per day and a yearly amount of $5,398,450.75. AMC is a hybrid mining and development cooperative and a business unit of VMC.
This looks as if it was written for an article, but I can't seem to find the actual source. Link? ->News |
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I think I got it now. You are selling shares and options to this BTC mining cooperative.
Yes, We are also selling machines. http://virtualminingcorp.com/ |
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Is there a general timeline for when you'll be receiving bought hashing power?
Yes, We have a 1,150 chip order with steamboat's batch 1 order date May 1, high in the order of the batch. We are sending these straight to a board developer to create 68 16 chips boards for us. Avalon chips 9-10 weeks from that date. Our batch order number 10409 with Avalon ordered today, 9-10 weeks shipped to us to add to our 80 chips Avalon reference boards that we are spinning up now. Of course, the 6 Avalon's which should be here soon. |
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New image of Avalon's shopping cart with the 6 Avalon's and the chip order. Also, image of the 10,000 chip order. https://bitfunder.com/asset/AMC profile->images Thanks! Waiting eagerly to see another 10k chip order in there!  Yes, Working on spinning up Avalon's reference boards now. |
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BTC4500 for two orders? What could that possibly be?
It is $4,500 for 3 Avalon's. When Avalon changed to BTC for the 3rd batch, they changed their shopping cart and all the $ turned to BTC. |
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