Are we selling these 55nm chips or are they just for us to mine with?
We do both, we sale hardware and we mine. |
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the tape-out of their 55 nm UMC Bitcoin Mining ASIC.
Let's just hope this chip is at least somewhat competitive with the 28nm ASICs and the transfer to the 28nm process goes real fast. If one of those fails, I see no chance of AM ever making a profit. Also: AM acquires the UMC intellectual property - so do we have to pay millions or are those two guys new share holders and will this dilute the existing shares? We can't dilute the shares. There are only 10,000,000 shares outstanding and those only receive dividends. |
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Thank you for the update Ken. Can you be a little more detailed and specific in regards to what is going on. What is UMC? Did you mean to type VMC? Do we own the IP to the 55nm chips? Do you have details in regards to the chips? So we will have both 55nm chips as well as 28nm soon after? Please keep us posted. Thanks. Yes, we purchased the IP which we will also use in our custom 28 nm. UMC is the FAB for the 55 nm. 11mm x 11m package, 1.9 GH/s, 2.5 Watts. |
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PRESS RELEASE
Springfield, MO and Santa Jose, CA – January 21, 2014 – Active Mining Corporation (Belize) (AMC) a bitcoin Mining and Hardware Manufacture, and People's ASIC a stealth Silicon Valley startup founded by two veteran engineers is proud to announce today the tape-out of their 55 nm UMC Bitcoin Mining ASIC. The ASIC features SHA256 optimizations according to a scientific paper by Dadda et al.
Simultaneously, AMC has acquired the Intellectual Property (Verilog code, test bench, GDS-II data, etc. for the 55nm UMC Bitcoin Mining ASIC. Delivery of chips is expected in Q2/2014. Also, AMC will use the same design team and code which successfully taped out the 55 nm on AMC's eASIC's 28 nm. EASIC's 28 nm development has been upgraded to a full custom 28 nm.Soo.. Q2/2014. Guess AM will beat us to the market? Thank you for the Press Release. A couple questions/concerns. - Does this count as the wednesday update? Or an we expect some information about CT operations, So 55nm Asic will be our first batch and then starting at Q2 onwards we will start working on a 28nm Asic? Or are we turning a 55nm Asic into a 28nm Asic? Can someone explain this in more laymanish terms.
- At the point of Tapeout is it expected to know what the Gh/Power Consumption will be? Can we expect Ken to know this right now?
- I'm not sure if this is good news or bad. I call on Kleeck to help me understand this.
11mm X 11m package, 1.9 GH/s and 2.5 watts. |
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Ken when you say the eASIC chip is going full custom do you mean we will be using the easicopy process?
No, it will be a full custom just like the other ASIC manufactures. |
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PRESS RELEASE Springfield, MO and Santa Jose, CA – January 21, 2014 – Active Mining Corporation (Belize) (AMC) a bitcoin Mining and Hardware Manufacture, and People's ASIC a stealth Silicon Valley startup founded by two veteran engineers is proud to announce today the tape-out of their 55 nm UMC Bitcoin Mining ASIC. The ASIC features SHA256 optimizations according to a scientific paper by Dadda et al. Simultaneously, AMC has acquired the Intellectual Property (Verilog code, test bench, GDS-II data, etc. for the 55nm UMC Bitcoin Mining ASIC. Delivery of chips is expected in Q2/2014. Also, AMC will use the same design team and code which successfully taped out the 55 nm on AMC's eASIC's 28 nm. EASIC's 28 nm development has been upgraded to a full custom 28 nm. |
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He deleted that post and not mine? How odd. I expected my posts to go bye bye. Maybe sometime in the future they will disappear.
How telling is it that he attacked me (and effectively all of the people who had helped a lot, including vbs) rather than answer the question? Disappointed.
It is very simple, under the rules of the forum if you ask a poster not to post in your thread, he should start his own thread. I have ask Entropy-uc not to post in my thread. He has his own thread and this one to post in. |
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If FF69 had insider information to trade upon, then you would be liable for that trading under regulation FD.
I'm sure the SEC has much larger axes to grind with you than selective disclosure of material information.
Yes as would Gerald. I have avoided pointing all this out before but individuals have repeatedly been told selective information, including VE back in the day. Read a few posts from the last few days and it's evidentially not changed. But meh, in the big scheme of things it's not something worth pulling people up on, Ken or Gerald included. It happens big time with all bitcoin securities because they have all been in such a grey area, and it's not the primary concern of the sec as things stand. Asicminer was chock full of it. People getting their money back and fraud not being committed is what the sec probably care about most. Zum - actually the share price didn't really move anywhere much when we quit. It more or less continued what it was doing. We thought quitting may affect it but we had no choice. Remember we were just a bunch of volunteers and it was feeling like we were playing whack a mole for a professional company, doing full time work unpaid and without much effect. As for why we did it en masse, well not a lot of option. None of us wanted to continue without the rest, and we were all very unhappy by that point. Better to give a chance to start a new board or hire professionals internally, which is what we recommended. I still do. I really think ken needs a proper professional boardroom. I saw how that worked out. |
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Ken, if you're on-line now, would you care to address some more pertinent questions and concerns about what's going on with the company?
I will do that in the Wednesday PR's |
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I said months ago that I sold them when I quit and I have had no ActM shares since then.
I'm also not going to get into an argument with you ken because despite what you may think, I actually want you to make this work. However, it's depressing seeing a mistake like that happen and it's a symptom of you needing help running your business rather than it all being on your shoulders. This is the kind of mistake that shouldn't be happening.
Still insider trading, you sold on inside information. That is a lot worst that anything I may have done. That is like the pot calling the kettle black. |
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Sorry zum, I know how you feel and I know this is probably aggravating you which I don't mean. I have no interest beyond wanting to see ken do things right and people not be mislead.
I also think ken himself needs telling not to be so daft sometimes. He will likely admit it himself. What he did here was a serious error of judgement and is another example of why he needs some help.
However much you believe in ken, you cannot have the CEO making mistakes like this. Perhaps he should hire you to help!
I see that you did not say what your timing was when you sold your shares. Mostly likely you sold because of being on the board and having inside information. |
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I like the idea of color coins myself, I didn't think they would be available so soon. I believe CC would attract very positive attention for ActM. The only problem I see is user-friendliness, or lack thereof. The first thing on ChromaWalet's website is a message stating "Colored Coins are not simple or easy to use!" that troubles me somewhat. Is ken going to be inundated with users who are stuck in some technical misunderstanding re. CC, waste his time/drive him crazier with millions of PMs per hour/cry foul and scam and "where's mah f*@%ing shares! OMG Ken ripped me off!" when they can't figure out how CC works?
I am fairly confidant I can figure out how to use ChromaWallet but it is going to take me a few hours of tinkering with it first, I am not so sure about some of the other users here. Not being critical of people's abilities, just saying, this could cause massive cock-ups and problems if implemented too soon... I'm really not so worried about bugs so much either, good minds have done a lot of hard work on the core workings of CC, any unforeseen problems will most likely be fixed fast.
Now, seeing as, due to the recently revealed delays, there will really be no discernible progress with ActM for a couple of months anyway, we are in a good position to implement ColorCoins soon and work out the blips before any real movement hits the market.
My vote; YES to Colored Coins.
I plan on making the CC interface easy to use after the CC developers have the core tested and working. |
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I have some ActM shares on cryptostocks.com
These are valid right?
Yes |
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It sounds like everyone has a personal choice in either CC or CT, no sense arguing about what the company should offer us...
If it will be possible to send colored coins to exchanges in the future, I would be leaning towards CC
Ken, would it be possible to have shares split between the two?
I had not thought about that. I will give that some thought. |
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i vote for crypto trade. colored coins are an unproven concept with a tool that hasn't even been proven to work and is in development. i would not like to handle money with such a tool.
We will not transfer the shares to colored coins until it is proven. There will be a beta on the Bitcoin testnet. |
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Colored Coins... that way if all goes to shit I can at least claim to have some of the first shares ever distributed in a decentralized manner using colored coins.
I like the idea of colored coins. However, it seems we would be beta testing colored coins with our shares. Is this a good idea? What if there is a bug? How will this get fixed. Is this a good idea to be beta testing with shares? We would first beta test on Bitcoin's testnet network, nothing to lose. |
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Ken, any chance we can have Crypto Trade enabled soon? Also will it be easy to move our shares off of Crypto Trade once coloured coins are mature?
After I get back to Springfield, enabling the shares on Crypto Trade will be on the top of my list. Everyone will understand this after some future updates. Mostly likely investors will need to make a choice now (Crypto-Trade or Colored Coins). We won't have the man power or time to move the shares later from Crypto-Trade to Colored Coins or the other way around. |
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Weekly Update 1/15/2013
Here in San Jose working with our partners to move our projects down the line. The RTL problem has been solved and I will be releasing more information about this over the next month. I will also over the next month be releasing the timeline on our chips as the information becomes available to us.
Kenneth E. Slaughter, CEO/CTO
Active Mining Corporation
Virtual Mining Corporation
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Weekly Update: 1/8/13 Question From VinceSamios: Update Requests:
When and Where will we be able to trade shares?
Crypto-Trade and ChromaWallet (colored Coins). As soon as we get time to finish the verification interface; however, our core business comes first and working on Intellihash. When is the first batch of chips/boards supposed to arrive at VMC Assembly?
Our engineers are still designing our board. We had to change our engineering firm, and learn a few lessons about hiring an engineer firm. We don't have a date at this time. What do you estimate the ActM hashrate be at the end of January, February and March?
Due to our inexperience with design, we have had a few set backs; however, we have hired the most competent RTL design team to make sure that when we spin up our chip it will work. They are very competent at Low-Power and getting the most speed from the chip. Do you have any more accurate energy efficiency figures yet? w/GH?
Not at this time. Comment From The CEOHow I see us going forward is we will get our chip and boards into production as soon as possible. Active Mining is in one of the best positions to take advantage of the Bitcoin network. Once we have our chips and boards in production this year we will be one of only two companies in the world which manufactures Bitcoin mining hardware and also mines. With this combination we have unlimited availability to bitcoin mining hardware only limited by our resources. What I see in the future is bitcoin's exchange rate for USD going to over $10,000 in the next year. If this happens Active Mining with its own chip, our current resources which will be increasing with the exchange rate, and eASIC as our partner will put us in an excellent position to dominate our market. Intellihash will just be an added boost should it turn out to be a game changer. Kenneth E. Slaughter, CEO/CTO Forward Looking Statements:This press release contains forward-looking statements, including, without limitation, statements related to VMC’s future sales and the value of bitcoin and future hashing rates. Words such as "expects" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon VMC’s current expectations. Forward-looking statements involve risks and uncertainties. The company’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, economic conditions, customer business environment and inventory levels, government and technological factors outside of our control, adoption and roll-out of products, risks related to ability to capitalize on growth opportunities and markets, risks related to our ability to manage our growth and other risks that may cause our business, industry, strategy or actual results to differ materially from the forward-looking statements. VMC expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein. Active Mining PR-Staff |
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