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When the dust settles there is a very good chance ActM comes out of this deal way way ahead. MSd will never rule in anything othwer than uS dollar and I tyhink most people agree bitcoin is about to enter another growth phase, it really is possible that ken gets to buy back shares when bitcoin is $3-4k range!
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If bitcoin gets back to over $1k which many think it will very shortly even our crappy old 55nm chips would be profitable to produce. ActM is not dead yet and this MSD thing is such a joke. So as punishment the MSD is forcing Ken to buy back shares at a fraction of what they are worth, I'm sure Ken feels very punished lol Well done whoever picked up those 2milion shares overnight!
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Hash rate appears to be rising past the 100Th mark finally.
The hash fast ruling means that we have a very high chance of being able to utilise those 5000 boards we have waiting to be made.
5000 x $100 profit per board = $0.5 million
0.5 million / 600/BTC is approx 800 bitcoin
accrued btc from mining approx 200
1000 bitcoin / 10 000 000 = 0.0001 bitcoin per share.
if you deduct 50% for re-investment then you get 0.00005 per share which is still 50% of the total share price currently.
So like I said seems strange there hasn't been a spike in share price when you consider fair value is probably something like 0.0005-0.0007 right now not 0.00001.
edit: this just assumes that we do 5000 boards in theory we could end up doing closer to 40k
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Surprised not to see a spike in share price after the latest hashfast news.Best news this company has had in months - maybe ever!
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My guess is Ken is trying to cut a deal to put hashfast chips on our boards and then give X% to Hashfast creditors and keep Y% for us to mine/sell.
If he gets the deal done then we should make a good amount of money, if the deal doesn't happen and Ken doesn't get the 5000 chips he paid for from HashFast then we are done.
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Some thing is def going on, bids and sells keep popping in and out quite a few shares changing hands around the 0.00007 mark. Bids totalling 24BTC listed right now - never seen it so high
edit and just as i hit post 12BTC of buy orders get pulled again
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I would bet a shiny dollar that Ken is going to come out with a strong positive announcement in the next 48 hours.
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Ya Dc is on west coast, west coast is sleeping - seems much more likely the power is down than anything else
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Can you add to that list of questions -
Why don't you just give all our mining gear that is sat idle to Bargraphics guy who can host them immediately all you have to do is ship them?
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Two week old bonus was accumulated over multiple weeks whilst the new contract was being drawn up.
Last weeks bonus was just accumulated over a week.
Last weeks bonus 'in theory' should be more representative of the bonus payment going forward after accounting for any change in difficulty.
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Ken this needs adressing. It's getting to a point now, within this long drawn out process that I'm starting to disbelieve everything you say. I've been an avid supporter for almost a year now. You are not treating our invest and trust in you and ActM with any outward facing business acumen. Sparky has questioned exactly what I was going to as I've been good at keeping my feelings to myself, however; that is unfortunately changing by day the day with ActM.
Shares which were transferred to the issuer by bitfunder will be automatically transferred to CT after the AMC-TENDER shares have all be verified and transferred.
Why has the website still not been updated? You said it was a top priority more than 10 days ago and still nothing. It is a 4-6 hour job to re-do that site not a 10 day job. Why has the extra hash power not been added to the DC yet? You said once the AC was fixed (which you have since said it has been) it would just be a case of flicking the on switch as everything was set up already, was this just another lie? Do you have any comment on the equipment that is just sat idle depreciating in value by the day? We are working on something else more important. This doesn't explain why the DC hash rate is still at 85TH, you said the AC was fixed already and that the power just needed to be turned on - that is a two minute job unless, you lied to us. Something else may be more important but there is no way someone with the expertise to press the ON switch hasn't been at the DC in the last week. STOP LYING TO US KEN. |
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Shares which were transferred to the issuer by bitfunder will be automatically transferred to CT after the AMC-TENDER shares have all be verified and transferred.
Why has the website still not been updated? You said it was a top priority more than 10 days ago and still nothing. It is a 4-6 hour job to re-do that site not a 10 day job. Why has the extra hash power not been added to the DC yet? You said once the AC was fixed (which you have since said it has been) it would just be a case of flicking the on switch as everything was set up already, was this just another lie? Do you have any comment on the equipment that is just sat idle depreciating in value by the day? |
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I told grngb and zach to convert but I still got the small pay out, what us up with that? Zach doesn't reply to my emails so what am I supposed to do now? I feel like I just got screwed
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First of all, I don't want to do business with bitpay because they are in bed with BFL. Second, there are a lot of other things going on in the background that need to be taken care of, i.e datacenter, cash flow, lawyers, MSD, customer service, just to name a few.
I thought the project manager takes care of the data center, the customer service rep takes care of the customer service and the lawyer takes care of the MSD - am I wrong about this? If not then what are you doing all day to stop you from sorting out the website? Website is our number one source of profit and it is a joke, I could fix it up in less than 4 hours. what the hell are you doing all day?  This should have been fixed over a month ago. |
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How to switch to new contract?
Step 1: Buy some lube Step 2: Bend over |
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Just when it seemed this drama couldn't get any more ridiculous.
I'm here all week. Try the veal! grnbrg. Dinner and a show! I do not eat veal because of the cruel conditions under which the lambs are held prior to slaughter. Is this some kind of comparison? My $.02.  Veal is not lamb. Veal is the calf of a cow that has been only fed on milk. |
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FWIW I have decided to convert to the new contracts and have already sent a signed message to that effect. This is not an ideal situation but the reality is that any judgement in a court of law will be 2 years down the line and in U.S.$, the reality is that even if Zach only pays out the bonus for a month or so, you will be better off having those bitcoins and holding for 2 years than getting the U.S.$ in 2 years time.
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I have emailed him multiple times and had no response to any of them.
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ITs only common sense to put everything on the table..
1. What is the total hashrate?
2. What is the estimated future hashrate?
3. What will this bonus be?
4. BE TRANSPARENT!
I don't mind signing a new deal if the deal makes sense. I have emailed you and you know my answer: no to the unilateral 3:1 conversion and no to the most recent proposal. I get that things need to change to stay on side of the regs but without full disclosure and a trust less process we are done.
Lab_Rat - I really hope you step up and say something well before your May 10 deadline. Personally, I need to see two things before I can even consider agreeing to new terms (and by "new" I mean anything other than the generally accepted position prior to your purported unilateral change on 8 March). First is an undertaking by LRM to provide, on a weekly basis, basic information regarding total hashrate, estimated future hashrate based on incoming hardware, mining proceeds, costs and any amounts set aside for reinvestment. See any of the weekly updates by peta-mine as an example of how things ought to be done - short, concise and reassuring. This is basic information that should not be difficult to provide. Second is some additional information regarding the bonus itself. I understand what you are trying to do (whether I think it is stictly necessary, legally, is another matter). I could, possibly, get comfortable with the concept of a discretionary bonus if you at least set out what the bonus, if paid, would be based on. Even if you say, "LRM intends to pay, on a weekly basis, a bonus based on mining proceeds less costs and reinvestment, but investors should be aware that any such bonus is discretionary and the payment of a bonus one week is neither representative nor a guarantee of a bonus to be paid the following week" - this achieves exactly the same thing (ie discretionary bonus) but it is couched in slightly friendlier terms; it presents evidence of good faith and best intentions on your part. Probably not enough to rescue the share price, which is ruined, but combined with the undertaking above it would, I believe, make the decision slightly easier/less stressful for some. Completely agree with this, if it had been worded like that then I don't think almost anyone would hv kicked up much of a fuss. |
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