@zumzero didn't we already get sales figures for august? https://bitcointalk.org/index.php?topic=252531.msg3168832#msg3168832Weekly Post
We are in the process of hiring a PR firm to help us keep all of our Investor and Customers up to date on the progress of
Active Mining.
We have received the Avalon refund and we are holding it in reserve for expenses for engineering the PCIe boards.
After the eAsic announcement and the price reduction on our Fast-Hash editions of machines we have seen an major increase in sales.
We will start announcing our sales figures after the 15th of the month for the previous months sales. This gives time for the sales at the
the end of the month to complete.
Here are the August sales:
Total $89,969.00
Average $2,902.23
Edit: The above sales figures are the actual revenue received.
Edit: Added July Sales:
Total $20,495.00
Average $661.13/Day
Active Mining PR Staff So i believe we should be getting sales figures for the month of September next, on the 15th of October. Yes, sales figures for the last quarter. The above figures are revenue not sales. Sales for August ~$330,000. |
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Stating what to me seems obvious: According to previous court rulings in the US and even the complaint against Silk Road, owning and mining Bitcoin is legal in the USA. Buying and selling illegal drugs online using fiat or bitcoin is not legal. Operating a securities exchange that is unlicensed by the SEC seems to be a bit problematic, also. On the otehr hand, there seems to be a network of OTC stocks that are traded. I am not a lawyer but it would seem that public companies need to comply with some government requirements to be offered to the public. Also, there are minor exchanges in the USA like http://www.nsx.com/. Perhaps Active Mining could be listed on one of these minor exchanges. Of course, if it gets listed on one of those exchanges, Ken would have to comply to a whole new set of rules and Active Mining would then be traded in US dollars instead of bitcoin. On the other hand, it would allow for Active Mining to be traded somewhere legally. The question I would like to have answered is, What is required of a company to have it publicly traded? Can a company be traded without an exchange? What is required for an exchange to meet SEC approval? The fact is, there are several small exchanges in the USA such as the one mentioned earlier. This answers a few of you questions: http://www.tcc5.com/gopublicconsultation.php |
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Does ACTM have any plans to move their mining farm out of the US in the case of something like this happening with mining? The fact that US citizens are running this company and that our mining farm is located in "The land of the free"-USA scares me a little bit.  Mining is legal in the US, should mining become illegal in US we would move our mining fram(s) outside the country. I don't see mining being illegal anytime soon in the US. |
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all this is great except for the fact that I have already reduced my ActiveMining position to 0, as I assume most other Americans have done or soon will do. too little too late. good luck with the company.
False. Why would I cash out at a loss when none of the reasons I'm invested in ActM have changed? There are many other of us Americans that are still long on ActM. The exchange issue is short-term. +++++1 The fundamentals of ActiveMining have not changed. What's more; this has pushed the market to find a decentralized way of exchange. It's an interesting time... If you have the stomach for it I think decentralized is the only way to go as this will happen to any other centralized exchange. Looking into the Namecoin code to create a decentralized exchanged. As was said above it can be merged mined with Bitcoin. We could uses our own miners to get it going. |
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What a joke this is.
Ken, are we screwed?
No, I am working on solutions. Expect some type of solution, work around in the next 24 hours. |
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I have sent a message to 796.com about setting up ActiveMining there. This could be a stop gap solution until we could do a colored coin client or an Alt coin solution.
nice, please keep us informed. ken, do you have funds stashed away to help along development of colored coins? Yes, we have funds if needed for development. |
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I have sent a message to 796.com about setting up ActiveMining there. This could be a stop gap solution until we could do a colored coin client or an Alt coin solution.
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Please let me know if there is a plan for US citizens to continue trading ActiveMining on another platform. Thanks.
Working on that as we speak. |
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An altcoin which represents shares of a specific company is interesting. There would be no mining for it, and it would be strictly an accounting system. As long as there is an accounting system for ownership of shares, they still can be traded over the Internet. But those have not been implemented in to the protocol yet. But, what we could do is create a alt-coin that represents the shares. You would have to have mining, to support the network. The miners would receive fees for the transactions, just like Bitfunder receives fees now. |
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I only held 50,000 shares after the "big crash" down to .0015.
Before that, I managed to sell 150,000 above IPO value on BTCT.
Don't worry, I'm alright. Ken is the only reason the share price has plummeted this far, nothing to do with BF or BTCT
I'm Canadian BTW
@VolanicEruptor So, I caused it to plummeted this far, VE Get Real. Nothing to do with BTC-TC closing down and Bitfunder cutting off US Citizens, just me caused this panic. Get Real. |
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i am interested what happened to the guy, who paid ken to transfer from BF to btct.
i assume he is back to BF, with a big loss, and more if he is US citizen.
i feel sad for him
ancient history. it was VolcanicEruptor and trust me, there's no need to feel sad for him. You got that right! |
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Yes, I have looked into it somewhat, I might be looking into it some more soon. |
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Aye, that's why I didn't mention it as it would likely face the similar situation as btct and now bitfunder are running into. Colored coins is the best way I think, especially if more governments come to the realization that they won't be able to restrict something that exists within the bitcoin protocol itself. I see the problem with direct shares, but I mean the further we keep getting pushed back here, the more its going to seem like downright oppression. You could make the same argument for using colored coins and say that you're still trading unregistered shares, no matter that you use the term 'colored coins'. They have to realize at some point that its going to be much easier for them to just try and adapt to the changing landscape instead of yanking it backwards so they can have it the way it should be.
Maybe so. OTOH, I dont think there is much harm in adhering to existing laws either. Registering a security isnt that hard, and the disclosures it requires can only be considered a good thing for potential investors. Even if these laws wouldnt apply, most of what they dictate should be common sense, and would avoid 99% of all pirate, labcoin and similar scams. Is that really worth fighting against? The only annoying thing is that you'd have to register those securities in just about any country, it would be nice if there was some central "internet security and exchange commission". This is the problem, you are trying to fit a square peg into a round hole. |
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The Land of the Free? lol you people are not only bankrupt, you have now been told you can't exercise what is to the rest of the world a basic human right - to do what you bloody well want to with your own money. Why do you continue to believe you are the best country in the world? No one else thinks so.
The solution for you oppressed US citizens is to move to one of these 'socialist' european countries where people still have governments that respect and serve their electors. Norway would be a good choice, it has an 800billion euro sovereign wealth fund, free health care, safe streets, very low jobless rates, very high standard of living. Oh but hang on they have a socialist government, those poor people must have no freedom and no rights. Wake up America. Why are you blaming Ken for this lol.
I agree. |
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No, Active Mining Corporation is based in Belize, and with Bitfunder changing to not targeting US citizens, it will be legal. In the US, and pretty much only in the US. Maybe selling unregistered securities is legal in Panama or Botswana, but certainly not in many other countries. US being blocked is just that the SEC is the first commission to move, its not likely to be the last. I am sure, if any other country, send Ukyo a C & D letter, he would just cut off those IP as well. Indeed, until you are left with Panamese investors only. Well, maybe not your problem since you are past IPO, but seriously, have you looked in to registering your securities? You still wouldnt be allowed to use an unregistered exchange, but AFAIK, you would be allowed to sell shares directly. Yes, I have looked into registering this last weekend. |
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I wanna buy direct shares
Or ken can you open up on havelock?
Havelock will have the same problem soon, I think. |
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Moving to yet another exchange isnt going to solve a thing, they will fold and block US citizens one after the other. And after US, they will block other countries when those security commissions wake up and smell the coffee.
Why not make it legal? AFAIK, registering a security with the SEC isnt so hard.
And where would the shares trade? |
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Does this run the risk of making ActM itself in violation of US law? Which unfortunatly happens to be grounded on US soil...
I thought it was based in belize. But unfortunately, it doesnt change anything. What is illegal is targeting unregistered securities to US citizens. Doesnt matter if the securities are shares in a US or Belize company. The only way around that is registering the securities with the SEC (and every other national security commission where you want to sell shares, the regulations are quite similar all over the world). No, Active Mining Corporation is based in Belize, and with Bitfunder changing to not targeting US citizens, it will be legal. I am sure, if any other country, send Ukyo a C & D letter, he would just cut off those IP as well. Right now it is the SEC that is the problem, and that will be solved not serving US citizens. |
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Active Mining Corporation, seen this coming a long time ago, and has taken steps including incorporating in Belize and creating our own exchange in the event one is needed.
Isn't BitFunder offshore of USA? How will your "offshore exchange" be any different? Sorry, but this is the question that needs an answer. Personal share holding rebuttals can wait. It will not be any different, it is there in the even Bitfunder was to close down, to protect our Investors. At this point we see that Bitfunder is staying open, unlike BTC-TC, to non US citizens. Thanks for the quick reply. Any solutions for US investors? Yes Edit: I am sure there will be discussions on the board. |
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Ken: "Active Mining Corporation, seen this coming a long time ago"
Uh? Thanks for telling us...
All we could do is what we have done. We did not know for sure what was going to happen, but it has happened before to the "Global Bitcoin Stock Exchange". |
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