Let's try to keep things constructive and informative here.
There are some really great comments on this thread, especially when compared to the spammed hell that is the official AMC thread. A hell, you helped create, Entropy before you deleted your posts to hide the evidence. Still, we all make mistakes we later regret, I guess. My take on this thread is it shows a subset of posters talking their book, ie they are short AMC and long AM as suggested above. It doesn't take rocket science to conclude this is likely, just look at the order books and the behaviour of the trolls on the official thread. I'm impressed with Burnside, he seems to be the most sensible person in this whole discussion. He is trying to be reasonable whereas many of the critics are simply over the top in their assessment of AMC's prospects, or are working to an agenda. I'm in AMC for the long term. I suppose we can meet up in a few months to compare outcomes eg AMC vs AM price. I don't think I'll be disappointed with my investment, but I am hedged accordingly. |
|
|
|
KYC = 'Know Your Customer'. Basically, rules enforced on banks so they have to 'know' who their customers are. The idea is applying such rules will help frustrate attempts at fraud and money laundering, which often pivot on an individual assuming a false identity.
Correct. This applies to banking relationships that touch the USA, though, and not all banking relationships and not virtual marketplaces for virtual currencies operated for entertainment only, as the disclaimer on btc.tc plainly states. Now, btct.co and BitFunder, while being virtual simulations, are likely to have insisted on some level of proof of ID from the owners of listed securities, even if not required by their local laws....
Why would they have done? Why would you think that, or try to convince others of that? If you know for a fact they have, then get one of 'em on here to say that. Otherwise, there's no reason at all to imagine they have, and plenty of reason to believe they have not. From btc.tc, emphasis mine: "This site is currently in beta. Nothing is verified. Everything is virtual. Do your homework. Watch out for scams. Be diligent." Also, "Virtual goods utilized on this site are for entertainment and educational purposes only." "Nothing is verified", which appears everywhere, does not suggest "we have their real IDs and passport pictures and notarized statements and what not." Trust me, I consider myself educated at this point, if not so much entertained. ...I hope BTCT.co and BitFunder has legal documents on file such as drivers license, passport, utility statement to verify issuers putting up stocks on their exchanges. If not this is a major problem for all BTC exchanges and will become a bigger problem and easier for potential scams to bring down the Bitcoin community.
This. This, far more than my involvement and current losses, is what really matters here. Fortunately, constructive discussions are taking place at https://bitcointalk.org/index.php?topic=245713.80. I really really hope I am wrong, but I've gone from "cool!" to "hmm" to "uh oh" to pretty much "scam" in the course of the last day, based upon what others have found, and especially based upon Ken's (lack of) response to questions asked. Cherrypicking questions, ignoring the hard questions, promising some kind of FAQ that "should" be written Monday; these are not the actions of someone trying to address concerns and quell a restless market. Oh Brother, this FUD is tiresome. What has the law got to do with any responsible business owner like eg Burnside? Well, one, if you are a smart businessman you obey it. Two, if you are a smart businessman you don't rely on the law to protect you, you take sensible proactive steps as required. Like when you are operating a virtual exchange in Panama, Belize or elsewhere. The law may not require it, but you satisfy yourself that you know your customer,  Still, chin up, despite days of trying and screeds of warning posts, we are no closer to Armageddon despite what the trolls said. |
|
|
|
I have thought about this and have seen others address this issue. What about AMC taking a larger portion of the profits from VMC sales? We can turn the table and do 90% AMC and 10% VMC. Something like this would work and i would be happy as a shareholder. Ken can still keep VMC and we are still protected from legal issues.
I'm open to all kinds of suggestions, but two things are essential for any change to the current set up to succeed: a) Ken hits pay dirt when AMC succeeds b) weak hands do not get compensated |
|
|
|
The Trolls on this thread will never be satisfied by what Ken does. Ultimately, they have made up their minds and are unwilling to consider other points of view.
I don't think I am being scammed by kslaughter. I think he will succeed in making AMC successful. This thread has been ruined by persistent trolling. Patience will be the bearer of bitter news for either AMC believers or AMC doubters, but all this pointless arguing is solving nothing. Just wait and see what the future brings.
I have a specific grievance with BitcoinMegastore, who has admitted that he is seeking only to undermine AMC. He has admitted to abusing the bitcointalk trust system simply because he disagrees with users who support AMC because "they must be shills". Personally, I am not a shill. I am a real person with a family, a job, a house, and a dog. My investments and my bitcoins matter to me. A merchant abusing the trust system for no other reason than spite is a staggering offence. How can any person trust BitcoinMegastore in a transaction if he is willing to bear false witness of transactions simply to abuse the trust system on this forum? Would he do the same on bitcoin-otc? Would he take you bitcoins, but fail to send you goods from his website simply because he dislikes one of your investments?
I am appalled by your childish behaviour.
+1 |
|
|
|
The 2 company's need to be merged in too one to remove the uncertainty of a second entity being involved. If Ken wants to get paid more then he should have AMC buy VMC for 10 million of the 60 million outstanding shares. Also he can not be dump the 10 million shares on the market for a year.
Let's not get ahead of ourselves. It might be sensible to merge AMC and VMC, or it might not be. There is more to consider than simply flattening the org chart so it looks neater. There are also legal issues to consider ie VMC operating in US territory and AMC being described as a Bitcoin mining cooperative, essentially operating in cyberspace. Gentlemen, this is the future, so let's slow down, think clearly and work on getting rich together without treading on the toes of the Feds.  Edit: I should have added AMC is a Belize company, but obviously the point stands. There is an interface between US/cyberspace and VMC/AMC currently, so it is premature to assume merging VMC and AMC is a no brainer. |
|
|
|
some level of proof of ID from the owners of listed securities, even if not required by their local laws. So, I have a feeling they know more about Ken than we do, and if Ken didn't exist, he would have never been listed.
You do know how easy it is to fake ID don't you? You are kidding me, right? |
|
|
|
I am sorry but what does KYC rules mean? I am waiting for what Ken has to say on Monday. He says he is putting together a FAQ list but he is going to have to make some changes soon after that comes out for this security to make sense and ultimately to benefit the shareholders. Once all this gets sorted out and taken care of the shareholders as well as future investors will be happy. Hopefully he comes through for the shareholders. I am sure many of us would be more than willing to invest more once they feel confident in the terms and agreement.
KYC = 'Know Your Customer'. Basically, rules enforced on banks so they have to 'know' who their customers are. The idea is applying such rules will help frustrate attempts at fraud and money laundering, which often pivot on an individual assuming a false identity. Now, btct.co and BitFunder, while being virtual simulations, are likely to have insisted on some level of proof of ID from the owners of listed securities, even if not required by their local laws. So, I have a feeling they know more about Ken than we do, and if Ken didn't exist, he would have never been listed. |
|
|
|
Just in case shit hits the fan just did a little bit of digging to see what i can find out about the AMC/VMC management team.
Auto, don't take this the wrong way, but you did say you were a share holder? I have been for a while and before I paid 1 satoshi, I did all my due diligence (such as looking at LinkedIn profiles) to conclude Ken is a real boy. Is it time we contacted btct and BitFunder to ask what confidence level they have that Ken really exists? I mean, they are running stock exchanges, be they virtual, so they must have applied some KYC rules, right? Roll on Monday (or Tuesday) when we can munch our way through the FAQ and start to make some progress normalising this situation. |
|
|
|
Lol, PRISM has it all. I guess if they come knocking, they will have all the proof they need! You and Ken are clearly small time operators but you need to wake up and realise this is bigtime. Scamming a few people for a couple of grand worth of magicians equipment will fall under the radar, but this is so big you will be hunted down. You make light of it but it's true your identity will be uncovered and from there it's a plain and simple man-hunt. You might last 3-6months on the run before they track you down. You have a choice now - to take it all and run or give everyone back a minimum 0.0005. That might get you off the hook and with the proceeds you have left you might be able to afford a decent lawyer. You can't get away with this in 2013. Clearly. |
|
|
|
Man, I'm quaking in my boots! A threat from the likes of steveioio will keep me awake tonight.
It was a genuine warning - I don't enforce the law the FBI do. Lol, PRISM has it all. I guess if they come knocking, they will have all the proof they need! |
|
|
|
PR Rep is a great idea.
You are the only one on here still backing this and if you genuinely believe it that's OK but if you are in on this you will be caught so bear that in mind. Man, I'm quaking in my boots! A threat from the likes of steveioio will keep me awake tonight. |
|
|
|
It is Ken or moderator deleting my posts.
It is worth pointing out that I have seen Megamouth censor his own posts in real time, especially when he realises he has overstepped the mark with a particularly extreme comment. The classic example was his criticism of the American Dream, where he launched into a marxist diatribe against the US. Or maybe the mods or Ken himself did that, eh MM? |
|
|
|
My web developer developed those site and those site are running on top of my developed "Turn Key Web Hosting Business".
Why are you picking and choosing questions to answer? If anything answer the real important ones at the top of the list starting with what you plan on doing with the AMC/VMC relationship. Also if you are going to be posting an answer to a question please make it detailed with facts/proof of your prior ventures and businesses you were or are involved in at the moment. Take some time out of the day and upload some documents and pictures/videos so we can move onto other issues on the agenda. Ken should not engage directly on this thread. We, as share holders, should appoint a person of contact who can funnel the communication between us. I think direct engagement is ok. As a shareholder i would like to see what the CEO has to say in person or a company PR rep that can directly communicate with us shareholders. Good idea? PR Rep is a great idea. |
|
|
|
Very true. It is the lack of communication that is causing pages and pages of heat against Ken. He is not doing damage control. If his company and reputation is on the line as it is now he should have cleared all this up as soon as the shares started dropping and people start questioning deeper into AMC and all the issues that have been addressed. He is not doing his job. Get to work Ken. Stop dragging this on and get on point. Start answering our questions.
My friend there no questions to answer it is over. What's over? GoT Season 3? You want to provide more detail, because your input to date doesn't lead me to believe you are a source of profound wisdom. |
|
|
|
My web developer developed those site and those site are running on top of my developed "Turn Key Web Hosting Business".
Why are you picking and choosing questions to answer? If anything answer the real important ones at the top of the list starting with what you plan on doing with the AMC/VMC relationship. Also if you are going to be posting an answer to a question please make it detailed with facts/proof of your prior ventures and businesses you were or are involved in at the moment. Take some time out of the day and upload some documents and pictures/videos so we can move onto other issues on the agenda. Ken should not engage directly on this thread. We, as share holders, should appoint a person of contact who can funnel the communication between us. |
|
|
|
So, what exactly is your point hamiltino? According to Megamouth I am a paid shill of Ken, which automatically discredits everything else he says in my mind - also for most others on here with half-decent judgement. But keep on keeping on. The more FUD we see on this thread, the longer AMC shares will stay depressed, the more the savvier can buy. |
|
|
|
My web developer developed those site and those site are running on top of my developed "Turn Key Web Hosting Business".
Ken, what some commentators fail to appreciate is the risk is already priced in to the current AMC share price. They actually believe the onus is on you to provide evidence that AMC is a AAA-level bond quality stock, before they mosey over to their buy tab to snap up shares at 0.0005 or below. Their expectations are pretty far out. I wouldn't engage directly with too many of them, they will waste your time, mostly. However, there are legitimate concerns from authentic share holders, and I think the first cut at the FAQ will help. Once we have had time to digest its contents, we should try to get one person on here (Vbs? Anyone else want to volunteer?) to funnel questions directly to you. This is only a suggestion, if anyone has a better approach, let's do it! I'd much rather you concentrated on the engineering and business side than the cut and thrust found on this thread, and actually, that is exactly the way I believe you have played it, ie you have optimised your talents to maximise the value you can bring to this venture. |
|
|
|
Having "a life" doesn't justify lack of communication with shareholders and potential shareholders
I'm happy to wait until Monday/Tuesday to read the new FAQ then take things from there. |
|
|
|
Others that have been and want to contribute to the list of issues that need to be clarified and changed please continue to post so we can compile a list for Ken to work on. Everyone lets please stay on point. All irrelevent posts can be communicated via PM to specific members. Keep it out of the public view as it is a waste of time for everyone to have to filter as they are trying to read posts that are of importance.
1. Ken needs to come out of the dark by being more transparent about himself as well as his staff. Pictures, videos, contracts, address, etc... All those things need to be out in the open to boost confidence in Ken as well as investors. This will benefit both parties.
2. AMC & VMC need to become one entity that manufactures and mines. All AMC investments should stay within AMC. AMC should manufacture with the money raised by investors for AMC not VMC and should benefit 100% in the selling of hardware. Bottom line we don't need VMC.
3. Dividends should be paid out to the 20m growth fund and to investors that bought shares. Shares that have yet to be purchased should not be paid in dividends. Revenue generated should be paid like this.
These three are top priority for me. This is where i would like to move forward and work out other details. Any other suggestions?
Good points, I second them all. This is all interesting stuff, but there has to be a massive pay day for Ken so he works hard to pull off AMC's ambitious plan. How about 20mm for investors, 20mm for the growth fund and 20mm for Ken et al. At the end of the day, 20mm for Ken, as part of a simple 3 way split, may be worth much more than the current 40mm-60mm split now on the table. My reasoning, is if we can get this bad blood purged and all agree to move on, AMC's future value may be realised more quickly. Mining is a race against time, as we all know. However, to repeat myself from an earlier post, I don't want to see any weak hands (or muppets like Megamouth) benefit or be compensated for any stupid moves they have made in the last few days. If you have lost coins, man up and accept it. Then get on with earning them back. That is the noble way to behave. |
|
|
|
After witnessing Ken being silent on important stuff and issues for way too long now while (paid) shills and retards like lolstate, Bargraphics
continualy post shits, derailing the thread to complete crap, some are still investing in AMC shares. No rational investor would do that, and
it is certain irrational investors do not have much more than few BTC. So who is still investing? Ken, "the team", (paid) shills and retards.
A rational investor would observe what you do, Megamouth, then do exact opposite. You are the embodiment of the Goldman Sachs muppet. |
|
|
|
|
Show Posts
