Most pointless post I've seen in ages.

Exactly right. The nm figure has been misunderstood by the entire investing community. There is no guarantee that a smaller die size is reflected in a more efficient chip. 20nm (KnC Neptune) in my view is a step too far and it's cost of production will not be justified by it's meagre if any improvements over top-spec 28nm.

Again, there is nothing more in friedcats release than in Ken's from last week (plus his posts) except I/O standard (as investors do we need to know that!) and a price point that has a variability of 100%.

Now some people may think a theorhetical chip that hasn't been taped out with a cost per chip prediction that ranges by 100% from a proposer who does not have the funds available to produce that chip is hard news but I would wonder at their sanity.

When he's selling the chip in bulk, selling 10TH/s mining rigs (55nm chip only) with it and running a substantial farm with his chip maybe we can pay him due respect as a competitor. Till  then we just get on with our own projects.

re: friedcat 40nm


Thats not hard news - far from it. The opening disclaimer says specs and cost and delivery dates are subject to change. In other words this is a theorhetical chip. It hasn't been taped out and he has no funding to have is produced.

Keep bringing us the 'hard news'. lol Its far less substantial than Kens release from last week but lets ignore that shall we?

Goth alert.

Reserved

Shareholders please feel free to make relevant posts for inclusion in the above post.

NB - This thread is not designed to ramble on for 400+ pages like the official thread, so please expect you post to be deleted by the Mod to ensure this thread remains succinct.

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eASIC 28nm ASIC

Since IPO, ACtM/VMC has been perusing a 28nm ASIC chip with eASIC. http://www.easic.com/
In September ACtM and eASIC released a joint statement:

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.

The above chip roll-out was delayed by ACtM in September due to concerns over ROI with BTC value at only 140 USD and competitors chips at 4-500GH/s. The ACtM chip was therefore returned to the design stage and the result is a more refined and more efficient full custom 28nm device which eASIC are presently in the process of producing. Chip specs will be known shortly.

This chip will be available for: bulk sales, the ACtM mining farm, and will be sold in premium high-power machines for retail and industrial customers.  
This chip is expected in Q3 2014.

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UMC 55nm ASIC

On the 21st January 2014 ActM surprised investors when they published this 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. Simultaneously, AMC has acquired the Intellectual Property 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.


This new full custom 55nm project (wholly owned by ACtM) is at a more advanced stage than the eASIC custom 28nm ASIC and has been taped out by UMC. http://www.umc.com/english/process/c.asp
This chip will be utilised in scalable bitcoin mining machines capable of generating upto 10.488TH/s.

The published specs of the UMC fabbed chip include:
11mm x 11m package,
1.9 GH/s, 2.5 Watts per chip which is 1.315789474W/GH (before Intellihash is applied)

This chip will be available for: the ACtM mining farm. Bulk chip sales and production of budget medium-power machines for retail and industrial customers is yet to be confirmed.
This chip is expected in Q2 2014.



Update: VMC has been slotted into UMC's February production run for the 55nm chip. Expected deliveries are 6 wafers in mid-April, 19 wafers by April-end, and in May VMC will receive full production batches of any quantity required. Expected 24x55nm chips per PCIe board. Engineering team are working on the sourcing and design of the boards and boards are due to be ready when chips arrive in April. Estimated yield of 6,800 chips per wafer giving 40,800 chips in mid-April for 77.52TH/s and then 245.48TH/s April-end to total 323 TH/s before full production commences in May.

Weekly update from 29/1/14 - 'We are expecting to add 1 to 2 Petahashs of mining [from 55nm chip] in Q2.'

Genisis block payout schedule (official): http://thegenesisblock.com/mining/a/423f77e0be


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Intellihash (TM)

Intellishash (TM) is a unique in-house process designed by ACtM and its engineering team which extends or boosts the usefull hashing life of Bitcoin mining ASIC's. For commercial reasons the full details of this technology are confidential. The process can be applied to ACtM chips and will boost chip lifetime-performance as hash-difficulty rises. The percentage of increased life-time efficiency over a standard ASIC chip is not public knowledge, but the boost is expected to be significant over non-Intellishash capable chips (ie competitors chips).


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ACtM mining farm

With their own mining farm ACtM expect to utilise first their 55nm based rigs which generate 10.488 TH/s and shortly after their 28nm based rigs which generate 24.576 TH/s.
Electricity costs for ACtM are stated to be around 0.017 $/kWh.


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Shares

Since the close-down of the BTC-TC exchange and thereafter the Bitfunder exchange, ACtM shares have been unlisted and untradable except for a very small number on Cryptostocks. Dividends have also been suspended. The CEO has been concentrating on developing the core of the business in the meantime but has actively considered the emerging Coloured Coins network as a trading solution. However due to increased shareholder requests to implement a trading solution ASAP ACtM shares will be listed on Hong-Kong based Crytpo-Trade https://crypto-trade.com/ in the next few days. 28/1/2014.

All shares on Bitfunder were requested to be tendered to the 'AMC-TENDER' holding account before the closure of BF so that Ken could batch-process them onto a new exchange when one was ready. Any holder who carried out the tender on BF should receive an email notification will log-in to a site (that is in the process of being created by Ken) and after successful verification of your identity your shares will be auto-sent to the account associated with your email address on Crypto-Trade. At this point no account needs to be manually opened on Crypto-Trade

The most recent information on this move is: 'The transfer of shares from AMC-TENDER to Crypto-Trade will be via an automated site. To verify your shares, you will need an email address that you want to register as a account on Crypto-Trade (fine if you already have an account using that email, shares will just be added to that account), the number of shares transferred to AMC-TENDER, and your AMC-TENDER transfer date and time of transfer (from your Bitfunder transfer logs, or from the screenshot you made of the transfer).'  

For the many shareholders who did not carry out the BF tender (or who do not have the date and time of your tender), you will likely be requested to confirm your identity by signing from your BTC wallet address which you registered on the Bitfunder site before you can send your shares to your CryptoTrade account. Due to possible manual processing of your shares (not part of the tender batch-processing) you may gain access to your shares sometime after those who did fulfill the tender request.

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Shareholder guarantee

There are a total of 10,000,000 (10 Million) publicly held shares in ACtM that represent interests in all VMC, and ACtM profits. The shareholder guarantee states that these 10M shares will receive all dividends until a total of 0.0025BTC has been paid per share. Currently around 2.5% of this total has been paid out. After the 0.0025BTC has been paid to each publicly held share the CEO's holding of 15 Million shares will also begin to receive dividends so that all profits are then shared out equally between the final total of 25,000,000 shares.


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Dividends

All BTC mined by ACtM are currently paid into this wallet: https://blockchain.info/address/1DJpsvnM7xTnQbWEhLYyCyfxQyxwupEzCa
To date 629 BTC has been paid out to shareholders since IPO - equalling 0.00006291702 BTC per share. So 2.5% of the total shareholder guarantee (0.0025BTC) has so far been paid, leaving 97.5% still to be paid out to each of the 10million publicly held shares.

The balance of the current mining income (around 57BTC accruing from our Avalon miners) will be paid out to shareholders once the shares are listed on Crypto-Trade.


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Ukyo Shares

Through his Bitfunder securities exchange and WeExchange processing site Ukyo misplaced, lost or miss-invested over 6,000BTC from the community. ACtM had company funds in both Bitfunder (38BTC approx) and WeEx (70BTC approx) which represented assets raised from the IPO, funds for the purposes of paying dividends, and funds being used to transfer ACtM shares to CryptoStocks via a free transfer option for share holders. (This scheme was in it's very early days and so only a few thousand shares were exchanged to CS before Bitfunder was closed). These monies appear to have been lost and after legal notice was served on Ukyo for the return of these funds no refund was made. ACtM has therefore adopted the rights of lien under Corporation Law to seize Ukyo's ACtM share holdings. Ukyo held approx 232,000 shares in ACtM. These shares are being sold on Crypto Trade solely for the purposes of reimbursing ACtM lost funds and legal fees and costs relating to this case. Once these funds have been reimbursed the remaining shares/raised BTC will be returned to Ukyo so that hopefully the community can get back some of their lost monies. At the current listed price it is expected that most of the shares will need to be sold to recover ACtM's losses.

EDIT - all Ukyo shares appear to have been sold.

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Pre-order Refunds

With BTC savings retained from the IPO, and BTC having appreciated almost 10fold, ACtM has ample liquid assets to refund 100% of all pre-orders plus continue with full production of the 55nm and 28nm projects. Of the few pre-order customers who have requested a refund all have been repaid in full in a timely manner. Pre-orders paid for in FIAT are currently held in FIAT by the company to safeguard this company liability from a fall in BTC prices.

A few days to go before live trading and the Trolls are raising the bar above and beyond. Now not only am I Ken, we will also all be going to prison.

Just a tip for the Trolls - you are trying way too hard. This last minute Trollfest is as subtle as a sledgehammer.

For shareholders and potential investors - there is a far far larger amount of money that will be going into ACtM once trading opens than will be coming out. These trolls are the tip of the iceberg, their incessant interest which is now peaking shows a large interest in this stock.

This.

And their spreading of fear and doubt will work on many. And they will then get their cheap shares.

There are many shareholders who want to have sensible discussions on here about their investment. So why don't you people make space for that?

If you are using Dividend Yield as the core valuer of recieving shares you can discount the 15Mill private shares as they are not recieving any dividend. And they will not recieve any dividend until 25-50Mill USD has been paid out to investors. The full 'market cap' figure is thus not reflective of investor value. Shareholders invest for capital gains and dividend payout so the 15Mill are irrelevant until the guaranteed 0.0025 BTC per public share is paid out. At that time there will be a revaluation by the market.

What was your job title?

lol - I've never been to the US and don't intend visiting soon, so unless extraordinary rendition is still practised and the actors have very bad eyesight I think I'm quite safe.

You don't understand the concept of share issues if you think future earnings are not priced in to security value. Future earnings might not cut it for you but for Wall Street they do. Maybe Wall Street are wrong?

Your calculation, apart from being based on a false premise, is a bit clear of the mark considering we have several million in liquid assests.

I could quote you some real numbers that valued Sony at zero in 2012. It was making an annual loss for four years. Did share price reflect that loss of earnings  - yes. Did share price drop to reflect a value of negative 457Billion Yen? errr no.

Largely absurd, speculative and incoherent. Not a convincing answer.

I respect this summary. The shares are not worth 0.01 on current news I agree. They are worth 0.004 and above. So a market cap of 40Mill USD +. For investors that represents very very good gamble for a company that has shown it can take multi-million dollar orders and has two chips in production that will supply both the top-end of the 28nm market and the budget end with a high-performance 55nm die ASIC.

Can someone else try because that answer makes no logical sense whatsoever. He had no choice?? Can you elucidate?

Around 3million is my estimate. Ken has said we don't need these funds right now but we may if the price of BTC falls.



The shares are not selling because they are not priced to sell.

I can't get over how naive some people are on here. The shares have been put well above the ACtM all-time-high for a reason - so they do not interfere with early days trading. If Ken wanted to sell to raise 106BTC he would have put 53,000 of them up at 0.002 and they would be gone by now. They have been put up for a few reasons one of which is for Ken to exercise his right under corporate lien to sell the shares to recover ACtM losses. They are not priced to sell and they will be sold at some time in the future when news or developments makes 0.01 a reasonable price.

I would not buy them at 0.01 right now. The news and situation right now suggests a price of 0.004BTC per share and above for this company.

This is the sort of development that seems to go by with little mention on here. We can only know our own company by seeing it in the context of this emerging technology market that we are a part of.

Bitcoin ASIC design and development is beset with setbacks. Delays are par for the course. Yet when we experience a delayed 28nm chip, Ken becomes a scammer. Is that even rational?



Since the time when we all invested in this company and it's 28nm eASIC, Ken has taken on a taped out custom 55nm and it's developers. Ken has made this UMC 55nm project - at no cost to us - part of our portfolio. Why would he do that? We are getting all of this added potential for nothing - no outlay. Ken could have gotton involved with this other project under a different company name as a side issue and kept us out of it.


My question for the doubters is:

Why has Ken given us shareholders (for no outlay) the added potential of the custom 55nm chip when he had no obligation to do so under the terms of the IPO?

The CEO is recovering important company funds. Without company funds the company fails and all our shares are worthless.

So obviously it's more important for all of us to have the 106BTC back on the balance sheet than have speculative trading resuming. Speculative trading does nothing for the long-term holders of ACtM shares and to prioritise that over company funds could mean long-term shareholders lose while speculators win.

I am not saying the listing of shares should be delayed, but that this unintentional delay (caused by the logistics of getting all the tendered shares up) does not do shareholders any harm - infact it benifits the company coffers and so benifits the future value of the shares. If ACtM is strong the shares will be strong.

Now that is all academic because so far Ken has raised less than 1 BTC from this listing.