If he actually sold them, i guess he could be in trouble. Looks like good ole fashioned, leverage, and should only be expected as time ticks on, and on....

I truly hope you have some plans for the following:

a. be able to distribute funds from the sale to weex users in debt.
or
b. explain to a court appointed handler where portions of my assets are.
(As well as explain to other weex users why your debt is more important than theirs)


Also:
What do you plan to do with all remaining funds?
It is no secret that there are plenty of shares to cover your personal accounts 100btc.
Or is the plan to continue to give no information at all, continue without any new information dates
with the last information of any kind about 5 months ago being a broken deadline so cause the prices
of ActM shares to drop so much you can continue to buy them back for pennies on the dollar compared
to what you pumped them to and be able to claim that all the shares I hold are worth less than the 100btc
you are personally having an issue with?

To be clear: I have no issues with 100% of funds from the sale of all ActM Shares assigned to me to be distributed to weex users.
Everyone should be able to see the numbers.

-Ukyo

Agreed!

We must only sell 106 btc worth of shares of cover ActM owed money. Once the company is square we must return the leftover shares to UKYO so he can deal with everyone else. It's criminal to take ALL of UKYO's shares and sell all of them, his debts are not our issue.

I am only defending UKYO to this point because it's the right thing to do. UKYO slammed me down in front of everyone when I was among some of the first people to call out the possibility that UKYO would be unable to pay the funds from Bitfunder because he probably used them and was running a fractional reserve. I was correct but UKYO still attacked me so I am not defending him because of friendship, but because it's not right to steal his property after ActM is square with the owed 106 btc.

Ken please don't go down this rabbit hole, get the 106 btc and leave it at that. Please.

Actually, it isn't in the spirit of the law. Construction liens and garage owners liens are designed to protect tradesmen who invest time, materials and money into your house/car/etc. If they do that and you don't pay them for the work, they are able to put a lien on that item. Even then, there are specific ways they have to go about resolving the lien. If you don't pay your roofer he can't put a lien on your car or cottage, and a garage owner can't put a lien on your house if he worked on your car. If you refuse to pay your roofer after you get shingles installed and he takes your car until you pay him, both he and everyone else who might be owed money on the car have every reason to go after you.

I have no idea what sort of corporation/LLC/entity Ukyo's businesses were registered as, but Ken seizing and selling the ActM shares to cover the We-Ex debt, besides being somewhat morally suspect, is almost certainly not legal.

1.9GH/s and 2.5W, estimated end of profitable hashing:
0.20 $/kWh - July
0.15 $/kWh - August
0.10 $/kWh - September
One month extra if BTC at $2k. From selling point, it can make wide customer base for future 28nm but needs high volume, no preorders, sell at costs, deliver on time.

1.9 GH/s, 2.5W

Which means 2.5W/GH or total 2.5W for 1.9GH/S?

Quoting from the VMC thread:
So look like we're back to the projections made in 2013 May. Forgetting the 45nm chips, of course.

So lets get this straight, the 55nm is delivered in 2 months (April 1st) and as I understand it even the original 28nm would be obsolete by then, so this chip gets some product shipped and some mining revenue in the bank, but make no mistake, our future rests on the new 28nm chip.

If this chip comes a few months after the 55nm, we are looking at mid 2014 for this new 28nm. I expect the competition to begin construction on the first TH/s chips by then so I really hope our mid 2014 28nm is several hundred GH/s at least.

Ken, you have mentioned that CryptoTrade will come before ColouredCoins, if this is true then will you allow us to transfer from CryptoTrade once ColouredCoins happen or are you still not allowing any transfer (Meaning if we want our shares to be ColouredCoins we have to wait and not trade at all)

Thanks.

FIFY...



in order to get an idea of the kind of money to be made from chip sales (projected to be $40 mil this year), here's some research I did on the direct chip selling from ActM competitors (which currently have working chips and products they are selling and delivering).  Avalon has been selling their 55nm chips for quite some time now.  they currently sell for 15BTC for a reel of 2500 (http://avalon-asics.com/).  that's 0.006BTC/chip.  their chip is rated at "1.5-1.6 GH/s at 1.0V with 2.5W per GHs" (on the high side of 55nm chips).  that's currently $5/chip, so $3.33/Gh.  Bitmain also started selling their 55nm chip in December (same chip they use in their 180Gh/s Antminers) which is rated anywhere from 1.6Gh/s at 1.07W all the way to 3.2Gh/s at 5.2W (https://bitcointalk.org/index.php?topic=364236.0).  they were selling 10000 chips for 100BTC, which is 0.01BTC/chip, which is $8/chip or $2.50/Gh.  I'm sure the prices are going to come down soon (if they havent already), or possibly they will just be replacing it with their new 28nm chips soon.  if ActM had chips available to sell and deliver now the prices would have to be somewhere in the same range that Avalon is selling their slower chips - around $5/chip or 0.0058BTC/chip for bulk sales.  in order to sell $40 mil of these chips it would take 8 million chips @ $5/chip (remember that in just 3 days this chip is technically worth ~25% less due to difficulty change, and therefore could/should technically sell for less).

So my 1st question is what price can ActM mass sell these 1.9Gh chips and still be profitable?  of course that will be speculation now because we cannot be certain what the value of bitcoin will be when the chips are released, but we still need to know projections at current bitcoin prices with adjustments for difficulty changes for when the chips are expected to be available for sale.

2nd question, and probably more important, when will the datasheet/reference design be available for those would would buy the chips to make use of them?  will this be done in time to allow timely manufacturing of boards for these massive projected chip sales?

Ken.

What are the specs for the full custom 28nm? This is the main factor in our business, would you agree?

Are we going to create a 100+GH/s++ chip or is it still small (<100GH/s)?

Yes. Ford sell more cars than Porsche. But Porche have the better car - by far.

Ford revenue 2012: 134 Billion USD
Porsche revenue 2012: 13.9 Billion Euros

kleeck,

using https://coinplorer.com/Hardware and Ken's '1.9 GH/s, 2.5 Watts.'

I think this 55nm chip will have around 65% of the performance (W/GH) of KnC's 2014 Q2 Neptune 20nm chip?

Now if we are only 35% in performance terms behind the cutting edge market leaders I think that is pretty good. We can price our units accordingly. Like you say the market is deep and there is certainly room for a budget machine that costs 65% of the top end KnC model and performs 65% as well. We would be on equal terms with KnC in price per GH's if we can price our machines accordingly.

Even if we are 20% more expensive than KnC we can still sell out if the global supply of machines can not meet the global demand. Infact if demand is insatiable as it may become with BTC higher than it is then every single miner that can ROI will be sold out.

So long as we can produce a machine that will ROI+ we will do well with the 55nm tech. And 1.3W per GH in Q2 is not obsolete by any means.

Hey ken, please wait for the coloredcoins test/finish their project...

So we can be the one of the first serious securities trading there. Instead of having the old fashioned easily take down securities web-exchange.

Thanks for the updated. We really apreciated!

Good times coming!

Will Intellihash be an added bonus to the 1.9GH/s chip or is that already factored in?

Ken,
How far behind the 55nm rollout will the full custom 28nm be?

Maybe I missed it because I just skimmed the pages.

Is there any physical proof of this?   Namely pictures of the unit that includes pictures of the actual real-world hashrate or at least a pool account we can look at?

We have entered a partnership with a group of engineers the result of which will be a 55nm chip produced by UMC. We will likely get a healthy split of all profits from this partnership.

While that happens eASIC will be working on our 28nm FULL CUSTOM.

Yes. The 28nm goes full custom with eASIC so we get a market leading chip when that arrives. While we wait for that (and we were always going to be waiting) Ken has struck up a partnership to mass produce cheap 55nm chips that will provide us with Millions in revenue to throw at our 28nm. This move shows us Ken is working far more than anyone suspected at making us a success.

Our chances of knocking out huge numbers of leading performance 28nm ASIC's just went up about 1000%.

So how are we going to cram 13,000 chips into one enclosure to arrive at 24,576 TH/s?