Sure, that is a possibility also.
I think BF for the immediate future is the best idea. At least it would join both the markets finally. IMHO Havelock is a much better choice. If so, can we move all BF shares too? I want them joined as I have shares on both exchanges. Also 1 big liquid market is far better than 2 smaller ones. We had two exchanges set up just in case something happened like this. Then as a backup plan, we developed our own. So, I think it is better to have two exchanges trading the shares. Please allow us to have to option to choose on which exchange we want the shares (Havelock, BF). I will look in to Havelock; however, we will have to get approved and pay the fee if required. |
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I have several questions regarding my order with you. 1) I noticed that you founded a company called "Virtual Mining" last year in Missouri, which was later closed by the authorities ( https://www.sos.mo.gov/BusinessEntity/soskb/Corp.asp?3322736). Now there is another "Virtual Mining" company registered in Delaware, which also operates in Missouri, but with a different name (BTC Mining Corporation). Can you please shed some light on this, in particular why the authorities shut down your former "Virtual Mining" company? Did not pay the required fee, as I did not need that company any longer. Yes, since we are operating in Missouri, we had to file as a foreign corporation, but could not use the Virtual Mining name as it is taken. 2) On you website you state that "Fast-Hash" and "Gold Rush" are trademarks of your company. However, when checking with the US Patent and Trademark Office ( http://www.uspto.gov/trademarks/) I did not find any such trademarks registered by "Virtual Mining Corporation". Can you elaborate on this? You get a Trademark by using it, then you can registered it at the uspto.gov, then it becomes a registered trademark. 3) What happens if you cannot deliver my miner by October/November as stated on your website? Will I get a refund in this case?
Yes, we will give refunds if we can not deliver on time. |
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Sure, that is a possibility also.
I think BF for the immediate future is the best idea. At least it would join both the markets finally. IMHO Havelock is a much better choice. If so, can we move all BF shares too? I want them joined as I have shares on both exchanges. Also 1 big liquid market is far better than 2 smaller ones. We had two exchanges set up just in case something happened like this. Then as a backup plan, we developed our own. So, I think it is better to have two exchanges trading the shares. |
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Ken, do you have an ETA until we can move to BF?
I will be putting together a plan today and will post it here. |
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BTC-TC SHUTDOWN INFORMATION BTC-TC Investors will be able to transfer their shares to Bitfunder before the shutdown. ActiveMining will post the information on the procedure to transfer shares to Bitfunder later today in this thread. This would be a good time to think of what to do when BF also closes down, because its only a matter of time IMO. I have already though about that. AMC already has a Stock Exchange built and is in the testing phase. If Bitfunder is shutdown also, shares would be transferred to Active Mining Corporation own Stock Exchange. To avoid problems with the US, the Stock Exchange will block all US IP's and ask during signup if you are a US citizen. I believe your trying to refer to "direct shares". Sorry, VE, but no I am not referring to "direct shares". If I started my own stock exchange and sold volcaniceruptor shares, they would be direct shares because I am not a third party.. I see what you mean; however, see my post about the Stock Exchange being spun off. |
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If I started my own stock exchange and sold volcaniceruptor shares, they would be direct shares because I am not a third party..
I assume the exchange would list other securities. Maybe I misunderstood.  Yes, it would. |
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@Ken, but you are US citizen no? Will that be an issue?
No, it is owned by the AMC (Belize) right now; however, it will have to be spun off to a different corporation before it can start operations, as AMC does not have the proper license to hold 3rd party funds. |
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Sure, that is a possibility also.
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BTC-TC SHUTDOWN INFORMATION BTC-TC Investors will be able to transfer their shares to Bitfunder before the shutdown. ActiveMining will post the information on the procedure to transfer shares to Bitfunder later today in this thread. This would be a good time to think of what to do when BF also closes down, because its only a matter of time IMO. I have already though about that. AMC already has a Stock Exchange built and is in the testing phase. If Bitfunder is shutdown also, shares would be transferred to Active Mining Corporation own Stock Exchange. To avoid problems with the US, the Stock Exchange will block all US IP's and ask during signup if you are a US citizen. I believe your trying to refer to "direct shares". Sorry, VE, but no I am not referring to "direct shares". |
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AMC already has a Stock Exchange built and is in the testing phase.
If BF failed and we used that exchange, would it be owned by the shareholder and would we receive the trade fee as a dividend? Yes, at this time AMC owns the exchange. |
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BTC-TC SHUTDOWN INFORMATION BTC-TC Investors will be able to transfer their shares to Bitfunder before the shutdown. ActiveMining will post the information on the procedure to transfer shares to Bitfunder later today in this thread. This would be a good time to think of what to do when BF also closes down, because its only a matter of time IMO. I have already though about that. AMC already has a Stock Exchange built and is in the testing phase. If Bitfunder is shutdown also, shares would be transferred to Active Mining Corporation own Stock Exchange. To avoid problems with the US, the Stock Exchange will block all US IP's and ask during signup if you are a US citizen. |
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BTC-TC SHUTDOWN INFORMATION BTC-TC Investors will be able to transfer their shares to Bitfunder before the shutdown. ActiveMining will post the information on the procedure to transfer shares to Bitfunder later today in this thread. Edit: And also in our Announcements thread. |
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Just a quick note on the BTC-TC shutdown.
We will be looking into this problem today, and will post a solution later today. All investors on BTC-TC should have their bitcoin address set. Also, I would have a bitfunder account set up if you don't already have one.
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Bitfunder, BTC-TC Dividends Paid [0.00000130/Share]
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Its getting harder and harder to make faster mining rigs, i cant see 28nm asics fading out anytime soon.
Because your premise is only true for some companies (and not true for others), your conclusion may be short-sighted. The firm is already well into development for its second-generation chip, which uses a FinFet design. FinFet uses 3D structures, in which the microscopic transistors on the chip rise above the planar substrate on the chip. This gives them more volume than a traditional transistor gate, which enables them to conduct electricity more effectively, reducing the necessary voltage and increasing switching performance. The result is a faster, lower-power chip. “It’s the most aggressive design available in our time schedules,” said Barber, who believes he’ll be taping out this chip in the fourth quarter. He wouldn’t say what process node the design used, but CoinDesk notes that last year, TMSC announced plans for a 16 nm FinFet capability in early 2014.http://www.coindesk.com/hashfast-tapes-out-400-ghsec-28-nm-mining-chip/TSMC aims to have chip design kits for its 16-nm process available in January with the first foundation IP blocks such as standard cells and SRAM blocks ready a month later. It will start limited so-called “risk” production of the 16-nm process in November 2013. Production chip tape outs will follow about four or five quarters later. |
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Are we dependent on sales revenue to cover the costs to start our own Mining? Or were those expenses (Asics, boards, servers, racks, cabling, staff, etc) all covered under the funds raised in IPO?
No, we have funds to increase our hash rate. If so; are sales meeting your forecasts to permit those activities?
Sales are good, August was a 400% increase over July, and I expect September to be an increase over August. Ultimately; short of the third party interruptions; are you on schedule?
Yes, we are moving in the right direction. |
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Just a note to say that vbs' spreadsheet is very out of date. The hardware profits (not revenues) are unlikely to come anywhere close (given profits pre price cut). Things have changed too much.
Ken, what's the mining plan?
And I know you can't discuss batch sizes, but what is the plan if the minimum workable batch size isn't met from sales?
Please clearly address this. Thanks. We can purchase 1 to any number of chips at a higher prices per chip. The mining plan is to build our own chip (as you can not count on anyone else as we have seen with Avalon) and use that to mine with. Once we have our own chip, we can order any number that we want. |
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"Our existing hardware assets from AMC liquidation
6 Avalon miners, currently running on BTC Guild under "Team AMC" for around 430 GH/s;
An order of Avalon chips from steamboat's batch #1, for 68 Klondike-16 boards, rated at 68*16*282 = 307 GH/s;
When will the Avalon chips from steamboat's batch #1 be available for mining?
Soon we hope, they will be on the 68 Klondike boards. |
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This is where we will post Active Mining Announcements (Read Only) Santa Clara, CA and Springfield, MO – September 4, 2013 – eASIC Corporation, a leading provider of NEW ASIC devices and Virtual Mining Corporation (VMC) today announced that VMC will use eASICs 28nm Nextreme-3 devices to create a series of scalable Bitcoin mining machines capable of generating up to 24.756 TH/s (tera hashes per second) of cryptographic hashes. Read Full eASIC Press Release |
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