I think it is time we stopped with the 'What about x'? questions because, although well meant, they are often drilling down into concerns people don't share. This 'Hey Ken, what about...' could go on for weeks. We need to focus on bringing hardware online to mine coins.
Well, no. Ken's posting clearly states: ---------------- [VMC/AMC] Merger This is a Pre-Merger VMC Offering. (This Is For Community Review Only) ---------------- It is up to the community to review the wording. This is a rare opportunity to participate. Take advantage of it. Sorry, you are right. I don't want people to think this is a done deal to be signed up to immediately. However we can't lark about. We need to take action asap -- accept it, modify it in quick time or bug out. |
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Whats going to happen with AMC's profits? Do they go too the share holders as dividends?
I think it would really serve us all well to admit Ken and AMC/VMC is not and has never been a scam. Ken is clearly aiming to maximise share holder value for us and his own sake. I think it is time we stopped with the 'What about x'? questions because, although well meant, they are often drilling down into concerns people don't share. This 'Hey Ken, what about...' could go on for weeks. We need to focus on bringing hardware online to mine coins. Asking where the mining profits are going is a legitimate question? Of course it is a legitimate question! What I am saying is these questions could go on forever unless we develop some trust in Ken. We do have visits to the facilites planned soon, so this will help confirm Ken is real, but frankly I took that as a given 99 pages ago  |
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Whats going to happen with AMC's profits? Do they go too the share holders as dividends?
I think it would really serve us all well to admit Ken and AMC/VMC is not and has never been a scam. Ken is clearly aiming to maximise share holder value for us and his own sake. I think it is time we stopped with the 'What about x'? questions because, although well meant, they are often drilling down into concerns people don't share. This 'Hey Ken, what about...' could go on for weeks. We need to focus on bringing hardware online to mine coins. |
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Ken,
I like the VMC contract, but I would like a clarification.
Will the swapped AMC shares used to acquire VMC shares be held by VMC to generate dividends from AMC's mining operation? If so, it seems that AMC shareholders will benefit greatly from the swap (which should entice current AMC shareholders to swap). Have I interpreted the sequence of events correctly?
You have!  Any AMC shareholder would be crazy not to trade their shares for VMC shares! As I see it, we, the existing shareholders get an improved deal. Ken et al also get a better deal because the odds of VMC now becoming a successful Bitcoin enterprise are amplified. Guys, if you have a significant position in this asset, this is a no brainer. Buy in now and back off from criticising Ken. I think the earlier complaints were reasonable, but now the value proposition is clear. Ken deserves his reward. I think what he is still in the process of creating is pretty incredible. |
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I am not taking drugs, i just misspelled word magician, missed i English is not my first language, sorry about poor writing skills. I just have to be sure that he is not scammer. I would want to hear an answer from Ken too. This has been worrying me for days as there is no answer but only silence concerning this rumour which makes me think it might be true. You are concered about a 'rumour'?  This security isn't for you. |
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how about AMC get a discount from manufacturer's cost, because the manufacturer's cost for all those die processes will be substantially lower by mid 2014 AND their own selling will reduce their costs as VMC scales
Guys, we have another freak requiring translation into English! |
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I will be adding 500,000 shares to each of the walls at Bitfunder and BTC-TC.
This is due to the drop in the price of Bitcoins. For AMC coming merger
with VMC, more details later today.
Hmm, it might have been smarter to wait until the existing walls were eaten up a little more. They haven't even been touched for days, and adding more will only scare away new investors. Hope you know what you're doing.. Chillax. The good thing about capitalism and free markets is (if you leave them alone) they optimise outcomes. |
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hedge your bitcoin holdings by selling futures.
796.com has a hong kong based futures exchange, looks waaaay more thought out than icbit over in sweden
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AMC Dividends Have Been Paid 0.00000139/share
Yeehaa! |
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What about magican, did he shipped finally?
Translate to English please. |
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Just felt like pointing it out to poke fun at Ken, enjoy the 4th!!
No worries, it is important that people highlight stuff, when they come across things they find puzzling. Never assume your're not the first, that's all part of good due diligence.  |
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Update On Our 68 Klondike Boards.
Just paid for our assembly of our 68 Klondike boards.
These all together are ~306,000 MH/s or about equal to 5 of the Avalon machines we have now.
This would bring our total hashing power up to 700,000+ MH/s
It looks like we could get these within the next 3-4 weeks.
Great news and I just keep on buying - I have faith here! From the contract on BTCT AMC has 3 Avalon 65 GH/s units hashing.
The Following Equipment Is On Order:
3 Avalon 65 GH/s units on order from Avalon. (Shippment Is Imminent) ~385,000 GH/s
68 Klondike - 16 chip ASIC Open Source Boards ~308,000 GH/s
20,000 Avalon chips @ 282 MH/s each for a total of ~5,640,000 MH/s or 5,640 GH/s or 5.640 TH/s
Total Hashing Power Hashing And On Order ~5.651 TH/s
Now call me crazy, here and you may actually be quite spot on, but does that say 385,000 GH/s and 68 Klondikes at 308,000 GH/s? If my math is correct, which it rarely ever is, adding up the 000s, carrying the 1s, yep we have a typo here!  308,000 MH/s 385,000 MH/s Yes, these are typos, Street. Peeps following along since the beginning are aware of it. |
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Ken, I know this is probably small fish...
However; I still have my credit for 16 chips at BFL, would you like these gratis to put into AMC/VMC?
Yes, we have decided to use BFL chips in our Fast-Hash-XXX series of machines. So yes, thank you very much. Hmmm I'm still hoping to sell mine, any chance of a trade for shares? If so, I'd do one 16 pack for now. PM if you want to make it a one off and not open the floodgates. I have 608 Credits if needed, would also like to trade for shares. PM (Sorry the floodgates might have been opened hah) What does everyone think about us getting 10% face value of our BFL chip credits exchanged for AMC shares? This would put a few shares in our pockets and give the company some cheep chips to build machines with. Another idea is that Ken could take the chip credits and build some machines for shareholders at a discount because there chip credits were used. I have about 30 I would like to trade. I have credits, I'd go for a swap just to get a few more shares. Not keen on asking VMC to build us discounted rigs, though. I'd prefer they concentrate on the core business of acquiring/building to mine and building to sell at retail. Edit: added 'at retail' |
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I'm winging it here, so dismiss this idea if you think it is a stupid. Does BitFunder allow private sales of shares from one person (ie Ken) to another (aka 'the buyer')? You know about a Dutch Auction? Ken could ask 'who wants to buy x shares at y price' (example: 10k @ 0.005) then reduces the price in 0.0001 increments until someone bites? This technique would only be used to issue new shares into the market. Obviously once bought, they trade on the exchange as you'd expect. The main benefit is it removes the need for large walls, and allows Ken to test the market in a fair way, ie everyone sees the first high Ask and is welcome to grab the offer when the price is reduced to the level they find acceptable?
Like I say, this could be an insane suggestion, but remember the Facebook IPO? They couldn't even get that right with the 'smartest' brains in Wall Street, the price went all over the place on launch.
1. Bitfunder allows transfers between accounts, you could just sell them here. 2. If VMC (gotta get used to that name) wants to do a Dutch auction on this site, shouldn't be a problem. Yes, this is a good idea, I will keep it in mind. When do you think you can share the terms and agreement for the new business model? Looking forward to see how much of what we talked about here is incorporated into that draft. I think we've covered alot of the major issues that were concerning shareholders and potential investors. I am looking forward to the new agreement. On a side note AMC's stock looks a lot better than where we were at a before you starting responding Ken. A little bit of communication goes a long day. Thanks for reaching out to all of us. It will be as soon as I can get everything put together. However, I am going to take a few days off for the 4th. Going down to Branson for a few days. It will still be a working vacation as there are few details we will have to wrap up on Friday concerning our Avalon clone prototypes. Ken, maximise your downtime, don't feel obliged to work on VMC 24/7 when holidays are calling. We all appreciate what you have done so far, it is very impressive. |
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I understand. I did not know that is not supported by BitFunder. Maybe we can ask exchange owner Ukyo to take a look into this and make some changes? I know it's a long shot but if we can get this implemented where only sold shares would get dividends it would be great.
Yes. That would be the best choice. The current workaround is to only create those shares in small batches as they are being bought, so a minimum amount of "unissued" shares exist. Looks like that is the only way. Ken can put up small walls at a fixed price and as those shares start to disappear he can make more available until he feels enough capital has been raised. Thanks for the explanation VBS. I'm winging it here, so dismiss this idea if you think it is a stupid. Does BitFunder allow private sales of shares from one person (ie Ken) to another (aka 'the buyer')? You know about a Dutch Auction? Ken could ask 'who wants to buy x shares at y price' (example: 10k @ 0.005) then reduces the price in 0.0001 increments until someone bites? This technique would only be used to issue new shares into the market. Obviously once bought, they trade on the exchange as you'd expect. The main benefit is it removes the need for large walls, and allows Ken to test the market in a fair way, ie everyone sees the first high Ask and is welcome to grab the offer when the price is reduced to the level they find acceptable? Like I say, this could be an insane suggestion, but remember the Facebook IPO? They couldn't even get that right with the 'smartest' brains in Wall Street, the price went all over the place on launch. |
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If someone with as few qualifications as Ken can deliver ASICs, how many others will have custom chips available?
You're back Entropy? I assumed after you deleted your earlier spam posts on this thread, you had gone for good. You can't pretend it never happened, plenty of people read them and remember your FUD. Next up: Entropy sees the light, starts pumping AMC to increase the value of his holdings . |
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So, my proposal for the VMC shares would be: - 9 to 10M for investors at 0.0025
- 10M for Ken
For a total of 19-20M. If more funds are needed in the future, more shares can be issued as needed, as means to increase the capital of VMC. Ken did/is doing the hard work on everything, so he should get a nice amount of shares, and it's only thanks to him that there's an ASIC coming (one year of work already on optimizing Xilinx code). Thoughts? These numbers look sensible to me! |
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Anyone else been snacking more shares at these prices in speculation of this merger?
EDIT: I pushed the price too high btct.co now I have to wait a while.
Oh hell yes. I just doubled my position on Bitfunder. The merger and the fact that people are going to visit AMC to verify its legitimacy are amazing news. I think once potential investors wake up and see the news it won't take long for it to surge upwards. These latest developments are fantastic news for current and future share holders. I can see Ken and us share holders getting rich out of this. |
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How do we overcome the issue that whoever visits Ken and reports back will be accused of being in cahoots?
How about Soylent and babefoot both go at the same time? They could hook up, drive to Ken's and ask our questions/take a few snaps. I mean this scam conspiracy is going to have to be pretty sophisticated, along the lines of the best out takes from the last Mission Impossible movie, for people to claim this is part of the con. I would be okay with this. Of course we would need to meet up at Springfield, seeing as I would be coming from Arkansas and he/she would be coming from OK. Yep, absolutely. Meet around the corner from Ken's office, then travel there together. I'll happily pay gas x 2. Edit: as long as babefoot is ok with this. I don't want anyone to feel they are being railroaded into something they are not comfortable with. Would love to meet up with both of you. I will buy lunch and then we can go over and look at our new manufacturing site. However, we are just getting started putting together the manufacturing line, so there is not really that much to see at this point. You would see that we do have a site rented, and that we are setting up the office, getting security in place. Also, we are starting to get in an inventory of cases and power supplies. Just let me know when you want to do this. Once you have more of a complete operation in place I would also very much appreciate a visit. I know I have been especially tough on the corporate structure, pricing and revenue goals but when the smoke settles if you would allow me I would be happy to swing by and say hi. Sure, that would be fine. I am cool with whatever you guys decide, and I would definitely appreciate help with the gas. Although I'm not worried about not being reimbursed. I am willing to do it at my own expense if I have to because I think it would be a good service to the overall bitcoin community. Regardless of what happens, I think it would be an interesting trip with a chance to meet some interesting people, and I find all of this much more entertaining than any tv show or movie ever could be. I am free any weekend. Thank you babefoot! PM me your estimate for the gas bill before the trip and I'll forward the BTC to cover the cost. |
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Posted on the 10th June 2013: Sure, I would be happy to meet with you at our NEW manufacturing site, which is 450 H S Union, Springfield Missouri, 65802. Just let me know when you are going to be here. Thanks for pointing out the typo on our site, I will get that fixed. However, you get a trademark by using it. It only needs to be registered if you are going to sue someone. I see you did not mention axs.net which I own and has been registered since 1997 along with name-servers.net. Our prototype boards are being spun up as we speak, should be here within a week, Avalon sample chips have been shipped to us for these boards. Anything else?
Sorry Vbs I don't know what you are getting at. Does this answer it? - We have known Ken owned axs for some time - he declared his 'previous business experience' on his run down but it's the home address I uncovered last night that I don't think has been on here before. I don't know if my address has been on here before, but I posted my complete address, including my cell phone number with the Avalon Orders on Bitfunder back in March. However, a scammers got my order number and tried to sell my Avalon's on eBay, so I had to redact the address. I was trying to be as transparent as I could back in March. the barriers of legitimacy of completely arbitrary on this site, don't worry The barriers to entry on this site, bitcointalk.org, are null. The barriers to entry on btct.co and BitFunder.com are actually pretty interesting. Will you argue otherwise? Spill the beans... |
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