Here is the transaction IDs for the HashFast payment:
88704e47ea9efb730fbfd456f43f856fdd0dc063f0a132bd27fc99c49f4fec32
b2889b6e0dea50082e3dd1783dca8fdcbd83957755c612332dc55c8da7c7443b
//DeaDTerra
Thx Seems a bit deceptive to use a rate of $20/gh. Considering bitmain is shipping devices now for $4/gh. And how many units are hashing now? The statement says feb 3 so it has been a month now. Another thing, why is icedrill trading btc on bitstamp? I thought this was a mining operation, not a gambling on bitcoin exchanges fund. Current total hashrate is 55.08 TH by https://www.icedrill.io/minestate Can u set MineState page to show also total hashrate? Ozcoin is showing 162 Th/s. They must be getting close to having everything online. http://ozco.in/content/user-top-20 |
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It seems odd to me that the note on the cash flow statement for payment on the Sierras says:
"As per sales contract"
Cash flow is always done from actual payments. Why did the accountant need to refer to the contract rather than either Bitcoin transactions or dollar payment receipts?
Because of BTC/USD has gone up from moment of IPO In which case you show the ACTUAL BTC paid and the exchange rate at the time. As was done with the Cointerra investment, where a Bitpay invoice was used. Was the Hashfast contract actually paid, or is there still outstanding amounts? As you note BTC/USD has changed a lot since the IPO. If BTC were held, they represent a significant gain for INVESTORS, not for a back room deal where Icedrill backdates a sale to themselves. |
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I'm also interested in getting in contact with other hashfast customers in the SF bay area.
I'm in the SF Bay Area, feel free to send me a PM. I visited their office in the past (and got lied to in my face as it turned out). I did receive my hardware in late January. It was not very stable but I've been able to iron out the kinks. No MPP of course, and looking at ~90% loss in BTC overall on this investment. To be honest, I was just hoping HF would ship the damn MPP so I can leave all this drama behind me. I got caught up in too many scammy operations (Bitcoinica, MtGox, BFL, HF) and it is starting to leave a really sour taste in my mouth. Bitcoin allow you to eliminate trust when it comes to the actual transaction but in the end you still have to trust individuals and companies so the sword cuts both ways. Arguably when it comes to pre-orders it just cuts your way. Pre-orders and bitcoin don't mix. Off-chain custodial services (wallets, exchanges, ETFs etc) and bitcoin don't mix either. Looks like this is a lesson we all have to learn the hard way. ^This. The time for pre-orders has ended. If they can't ship it to you within a week, don't buy it. |
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Just posting this for posterity. i just want to know did actm still have enough money to develop 28nm chip, if no ,we all will be get f*k
Mask costs for 28 nm are ~5x 55 nm. There is no chance ActM is capitalized to fund masks let alone wafer starts, packaging and boards for a 28 nm build. I believe the existing 28 nm ASIC manufacturers went through $7-10M to get a product to market. |
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i just want to know did actm still have enough money to develop 28nm chip, if no ,we all will be get f*k
Mask costs for 28 nm are ~5x 55 nm. There is no chance ActM is capitalized to fund masks let alone wafer starts, packaging and boards for a 28 nm build. I believe the existing 28 nm ASIC manufacturers went through $7-10M to get a product to market. |
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Get your crap spam out of here
Cointerra's ASIC hashrate is "greater than 500 GH/s?" False.HashFast's ASIC hashrate is "greater than 500 GH/s?" True.The objective truth is not "spam" regardless of your subjective personal emotional reaction. Hashfast's customers who were promised delivery in 2013 have their machines FALSEHasfast has delivered greater than 500 GH/s boards to anyone at all to date. FALSENow that MtGox has killed the market for newbs to bitcoin, hardware suppliers are going to live and die on their reputation. Quite a few will go bankrupt over the next 6 months. I wonder where you will be? |
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Also, whether it would be possible for existing customers with 1.4Th rigs to upgrade to the 2Th - e.g. by mailing in the device - ideally crossmailing so no hash rate is lost. It seems like once they get the old rigs in they should be able to pretty easily upgrade them in house at little cost, as long as they can remove the chip and put it on the new boards...
Cheers,
Will
I don't think there will be such a thing as 2TH. I am quite certain everyone will get the same 1.6TH and no board upgrade etc will solve this problem. The board upgrades etc may make the system more stable at best. Wouldn't be selling 400Ghs PCI-E for $1699 if they had a solution for this problem. The title of this thread says "CoinTerra announces its first ASIC - Hash-Rate greater than 500 GH/s." Has Cointerra actually demonstrated their chip running at " greater than 500 GH/s?" AFAIK, the *only* ASIC in the world running at " greater than 500 GH/s" is HashFast's 750GH/s EVO.  It's funny. I bought machines from both Hashfast and Cointerra. I bought a lot more from Cointerra than hashfast because Cointerra actually seemed to know what they were talking about, whereas your team seemed, well, clueless. But we did buy a few from you, because you promised delivery nearly 2 months before Cointerra. I have most of my Cointerra order hashing now, and expect the rest of it by the end of this week. Your machines? Still no sign of them, and no answers when I ask when they might be expected. Imaginary machines with imaginary hashrates really hold no appeal to me. |
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I am still amazed at the delusional people in the moderated threat pretending that everything is fine. Weekly Update 2/26/2014
We have hired a really good lawyer for the MSD problem. I am out west working with our Project Manager working with our vendors to move our projects into high gear. Expect good news in March.
Active Mining Staff
Well, now that starts to make sense. SCENE: Ken sits down with the happy engineers who sold him their uneconomic 55 nm design for $500k. All are cheerful and cordial. KEN: Ok guys, down to business. I just paid UMC $700k to build masks and start wafers. What is it going to cost to get these chips packaged, onto boards and hashing? ENGINEER1: (shares power point and excel sheets) ENGINEER2: (reviews GANT charts of schedule) KEN: What the fuck! It's going to cost me $8 / Gh/s for hardware that won't arrive until July? I can buy May Cointerras for $3 / Gh/s! ENGINEER1: Not any more. We bought out Cointerra's May batch with the money you paid us. ENGINEER2: Why do you think we sold the design to you anyway? |
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Did Phinn ever get his 1000 BTC returned?
Ask him. I do not know about any valid claim of such amount. It sounds insane to store so much on an instawallet. If there was ever a valid claim from this person, it would have been paid back. I'll take that as a 'no'. Ordinarily I would have trouble believing that a principle in a business would be so out-of-touch that he would not know the status of a nearly $1M claim. In Boussac's case, maybe. It would be pretty hard to be so out of touch. It's 2 pages back in the thread. To be fair, davout is currently working on my three claims totally 1,100+ BTC via email.
To be fair too, I'm not in the "working on it" phase yet. Still in the "collecting factual information" phase. I'll try to update you this week. ... and the coward will not come out and confirm definitively he will not be returning my coins ... in which case I could initiate counter action ... so still waiting ... but the clock is ticking.
I asked you a couple of questions which you ignored. If you want a conversation, then converse. If you want a monologue then you don't need me. If you, a bitcointalk regular, want to blame me for not finding five minutes in three months to make a claim, then go for it, blame me. Whatever you call it or are doing, it's still an honest attempt to get a resolution, and that's what I was I trying to relay, davout. ~Bruno Kucinskas |
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^if thats true, then holy shit. 55nm out the window, and the recently announced 28nm is probably barely off the ground.
but more importantly: why would they store bitcoins at mt. Gox? that is absoulely insane, and more then enough reason to avoid ACTM if they cant implement a simple offline storage
We can expect the 28nm in September perhaps? Not sure why any coin was on MtGox, coinbase is the prefered place for getting in/out of bitcoin and also Gox has had issues with withdrawing for the entire life of ActiveMining. This makes no sense to me. Do you remember when I told you to take legal action so you could prevent Ken from turning any more of your money into garbage? Well here we are, $1M in expenses, 4 months of salary for Ken and his children later. Do you still think I was giving you bad advice? I still think your advice was bad. My view has been like this for a long time now; the investors have nothing, the company is worth zilch. However I believed there to be a small (1-4%) chance that Ken makes an ASIC and this would be the only way to get a real return. Taking that risk was the only real way to get a decent amount of Bitcoin back, rather than the peanuts splitting $1,000,000 (if that) over 10,000,000 shares. Of course this means I was willing to accept a 95%++ chance of never getting anything back. This direction is the 95%++ chance playing out. The $1M+ wasted since then is $0.1 / share, or 0.000182 BTC / share. Plus, you could have pursued Ken and his family's personal assets. By now his lawyer will have explained to him measures to make that difficult in the future. I personally feel sorry for you, especially in comparison the most of the idiots invested in this mess. But your willingness to be a victim isn't doing you much credit. This whole debacle reminds me of the endgame for the Pirate ponzi. Scammers like PatrickHarnett, BurtW, Paybtc hid behind the collapse of Pirate to deflect blame from their own actions. |
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^if thats true, then holy shit. 55nm out the window, and the recently announced 28nm is probably barely off the ground.
but more importantly: why would they store bitcoins at mt. Gox? that is absoulely insane, and more then enough reason to avoid ACTM if they cant implement a simple offline storage
We can expect the 28nm in September perhaps? Not sure why any coin was on MtGox, coinbase is the prefered place for getting in/out of bitcoin and also Gox has had issues with withdrawing for the entire life of ActiveMining. This makes no sense to me. Do you remember when I told you to take legal action so you could prevent Ken from turning any more of your money into garbage? Well here we are, $1M in expenses, 4 months of salary for Ken and his children later. Do you still think I was giving you bad advice? |
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It is worth mentioning that this question was asked to Ken in the official thread, with no response. I assume no bitcoins on MtGox either Ken?
+1， i just want to ask the same question One wonders why he would be storing bitcoins anywhere but offline after losing 106 at Weex. More so, why he would keep any at MtGox. Since it was impossible to get cash out of MtGox on a timely basis since the time of his IPO, you'd have to be an idiot to consider selling coins for your business there. It seems this could be the perfect cover for Ken to walk away from the scam free and clear. Cancelling the 55 nm pushes the time frame for any results out 6-12 months. And when anyone asks where the money went, he can just blame MtGox. |
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It seems odd to me that the note on the cash flow statement for payment on the Sierras says:
"As per sales contract"
Cash flow is always done from actual payments. Why did the accountant need to refer to the contract rather than either Bitcoin transactions or dollar payment receipts?
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LOL. 1/2 a million dollars on masks wasted. Plus whatever he paid for the design in the first place.
If he actually taped out like he claimed.
There is no way he has enough money left to fund a 28 nm build. Especially with 4 employees, all members of his family (as stated in the article).
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Dogie, for example is a fly by night seller of used hardware out of his dorm room. Any mining he does is because he is stuck with over-priced crap he couldn't pawn off on an unsuspecting victim. And he is a paragon of integrity when compared to many of the other suppliers and retailers of ASICs. Everyone lies, especially about schedule, and once they have your money you will NEVER hear from them again.
^_^ I knew there was a reason you were on my ignore list. I haven't advertised anything significant for 6 months, and everything ever sold was sold at market price? Notsurewhatyouweretryingtogetat. Just using you as a bad example. If I was on your ignore list you wouldn't have wasted my time responding. |
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You are high on yourself.
You can pretend you were able to accurately predict the difficulty for the past year, but in reality you didn't.
Here's a list of unpredictable variables which influence difficulty:
- value of btc
- manufacturer delays
- manufacturer production costs
- waves of btc noobs
- hardware problems
- hardware performance
- new manufacturers
- private mining farms
Please do enlighten me as to how you were able to predict any of those.
Ignored |
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It used to be easy to calculate the days to break even on a miner and make a decision to buy or not.
False. We only thought our calculations were more accurate. Now we know that calculations are just about guaranteed to be way off. Maybe you were stupid. I always understood exactly what I was calculating. When power bills were less than 1%, it was easy to ignore operating expenses, now you cannot do so. As for difficulty, My 6 month projections have been +/- 10% for the last 2 years. You are telling me you were able to accurately calculate the difficulty growth rate even with a huge amount of unknown variables like value of btc, hardware sold, hardware being used, new asic manufacturers, private farms, etc.. Can I borrow your magic crystal ball? Or did it stop working all of the sudden? Seriously though, why can you not make reasonable estimations now if you could a few months ago when much less was known about the effect of asics? Seriously, I can. Learn to read. It is not as easy as looking at mining earnings only any longer. You must also consider operating expenses now, and the inevitable day when expenses exceed your bitcoin earnings. Con recently posted that he sold off his Avalon because electricity costs more than it earned. That day is coming for everyone soon. Learn to read? What am I doing now? Yes I understand that now (like gpus a year ago) inefficient asics will need to be shut off because they cost more in electricity than they earn. This doesn't take away from the fact that the difficulty of bitcoin was never easy to calculate. You had no idea how many avalons/bitfurys/bitmain/bfl/asicminer were going to sell so your calculations were based entirely off guesses and that has not changed. I guess it was hard for you. That's probably why you were buying Asicminer when I was selling. A little understanding of economics, a couple decades in the semiconductor business, and plenty of market intelligence collected both here and from other sources made it pretty easy for me. In fact there are several people on here who have made similarly accurate projections. I gained a lot of credibility with my business partners when DeathandTaxes published a projection last April that matched my estimates within a couple %. I will say that it is difficult to estimate at what difficulty growth will level out to a more normal growth level of double digit % per year. But that has more to do with the amount of dumb money being thrown at the market, and pre-order cycles than anything else. |
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It seems like it would be easy to answer the simple questions asked by Marcus above.
...unless there is reason those 'haters' are correct. Lots of MtGox people used similar arguments when people challenged their solvency.
Did Phinn ever get his 1000 BTC returned?
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It used to be easy to calculate the days to break even on a miner and make a decision to buy or not.
False. We only thought our calculations were more accurate. Now we know that calculations are just about guaranteed to be way off. Maybe you were stupid. I always understood exactly what I was calculating. When power bills were less than 1%, it was easy to ignore operating expenses, now you cannot do so. As for difficulty, My 6 month projections have been +/- 10% for the last 2 years. You are telling me you were able to accurately calculate the difficulty growth rate even with a huge amount of unknown variables like value of btc, hardware sold, hardware being used, new asic manufacturers, private farms, etc.. Can I borrow your magic crystal ball? Or did it stop working all of the sudden? Seriously though, why can you not make reasonable estimations now if you could a few months ago when much less was known about the effect of asics? Seriously, I can. Learn to read. It is not as easy as looking at mining earnings only any longer. You must also consider operating expenses now, and the inevitable day when expenses exceed your bitcoin earnings. Con recently posted that he sold off his Avalon because electricity costs more than it earned. That day is coming for everyone soon. |
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