So I have been looking over the few reports on this debacle and from what I can glean from many poorly translated missives is that David Fan is determined to try and salvage AM. FC most likely walked because he had had enough "internal bullshit" and isn't coming back.
Are we ever going to hear from the operators of AM re; game plan for future? Times a wasting. Some would say times well past due
I really don't expect much to come of it, maybe a final disbursement of the remaining AM assets to shareholders (wishful thinking) possibly they can get some other flaky computer nerd to take the IP for gen 3 and do something. At this point I would merely like some straight talk as to wtf is going on
any links to what you were reading? canary in the mine said; https://bitcointalk.org/index.php?topic=99497.msg10607230#msg10607230statement of david fan promising AM will try to move foreward despite losing FC http://www.cybtc.org/article-75-1.htmlnote- canary in the mine has proven to be reliable in the past (i'm not sure but i think he is on the AM board) yet his statement seems to be conjecture. david fan is the co-founder of AM, and without FC is the CEO now. CEO of nothing is no CEO at all. Exactly. AM has the design of a new chip but no funding to make it. They don't have access to mine. Their current chips at ~0.8 W / Gh are marginal at the current difficulty / market price. just sayin' that's the way the cards have landed. just a little info but, it's more than any of the principals have offered us... fuck i've lost a lot of BTC, and wasted a lot of hours hanging around in this sub. they should just move the whole section into the scam sub and be done with it. there is nothing to gain in this sphere the only decent companies secure private funding. us little fish don't get to play ball. |
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So I have been looking over the few reports on this debacle and from what I can glean from many poorly translated missives is that David Fan is determined to try and salvage AM. FC most likely walked because he had had enough "internal bullshit" and isn't coming back.
Are we ever going to hear from the operators of AM re; game plan for future? Times a wasting. Some would say times well past due
I really don't expect much to come of it, maybe a final disbursement of the remaining AM assets to shareholders (wishful thinking) possibly they can get some other flaky computer nerd to take the IP for gen 3 and do something. At this point I would merely like some straight talk as to wtf is going on
any links to what you were reading? canary in the mine said; https://bitcointalk.org/index.php?topic=99497.msg10607230#msg10607230statement of david fan promising AM will try to move foreward despite losing FC http://www.cybtc.org/article-75-1.htmlnote- canary in the mine has proven to be reliable in the past (i'm not sure but i think he is on the AM board) yet his statement seems to be conjecture. david fan is the co-founder of AM, and without FC is the CEO now. |
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So I have been looking over the few reports on this debacle and from what I can glean from many poorly translated missives is that David Fan is determined to try and salvage AM. FC most likely walked because he had had enough "internal bullshit" and isn't coming back.
Are we ever going to hear from the operators of AM re; game plan for future? Times a wasting. Some would say times well past due
I really don't expect much to come of it, maybe a final disbursement of the remaining AM assets to shareholders (wishful thinking) possibly they can get some other flaky computer nerd to take the IP for gen 3 and do something. At this point I would merely like some straight talk as to wtf is going on
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talking about speculation.. nice support @0,01 BTC.
weak hands out. ^^
so, you suggest the strong hands are doing what? hanging on to the anchor of this sinking ship? ive still got all my shares, but it isnt strength that enables me to hold. the shares are simply worth so pathetically little that i no longer give a fuck if they drop to zero. even if FC resurfaces, this cat is cooked. |
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As for the MSD orders, the order of disgorgement is a bit misleading. The funds resulting from disgorgement would go to investors. We just don't know what is left at this point or where Ken is. Below is my most recent e-mail from Shawn over at the MSD. He was responding to my inquiry of shareholder reimbursement: The Final Order against Mr. Slaughter imposed Disgorgement of any profits.
If and/or when any Disgorgement is received, that would be paid to investors.
Thanks,
Shawn
I will follow up with him and let you guys know what I find. Thanks. "if and/or when" that doesn't sound too definite. what exactly is a disgorgement anyways? seeing as how ken has refused to co-operate thus far, what sort of legal powers do the MSD have to move in and seize assets? he does own a house...that's something... |
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cloudmining can work, what bothered me about AMhash was...AM should have self mined with those machines and distributed the btc to AM shareholders. simple as that. instead they diluted AM shareholder's profits and sold them down the river. now look where we all are.
I'm venting ofc, but until FC turns up, AM is liquidated, some sort of reasonable explanation is given, our imaginations will run wild. worse even, panicking AMhash holders run to Chinese authorities and everything gets thrown in bureaucratic limbo, never to see resolution for any of us, only some corrupt Chinese officials...
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so this thread is now an AMhash thread like all the others, is it?
I got out of amhash as soon as my 5btc turned into 6btc, like a month in. Its my AM1 shares that I'm mourning here.
how do i get into the chinese social medias that discuss FC, AM, et al?
AMHash is like a bond AM (or whatever other party) owns the investors, so they have to pay back with whatever they left. However, the AM share is just a profit sharing (it's not even the share of the company bit fountain, if I am not wrong). Apparently AM has no liability to pay any dividend as long as there's no profit. Moreover, considering AM has already paid more than 6x of IPO price as the dividend, they really do not own the ( profit sharing) shareholder anything if they choose to close today. I know it's really unfair for those bought AM shares at high price, but the reality is the reality. Umm, no thats not how it works. The shareholders collectively own all of AM assets. If AM closed today they have to liquidate those assets and return remaining the capital to the shareholders. Unlike the complex situation with AMHash, all AM assets are owned by just one company, which makes litigation easier if they did anything outside of the best interests for the shareholders. You can go to page 1 and read the first post. It was clearly written AM belongs completely to the investors of Bitfountain (not investors of AMHASH). The AM share holders just have the right to get the mining profit. and sales profits. most of what was sitting in FC's wallet. FC spending the contents of said wallet is embezzlement. AMhash is another thread. |
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so this thread is now an AMhash thread like all the others, is it?
I got out of amhash as soon as my 5btc turned into 6btc, like a month in. Its my AM1 shares that I'm mourning here.
how do i get into the chinese social medias that discuss FC, AM, et al?
AMHash is like a bond AM (or whatever other party) owns the investors, so they have to pay back with whatever they left. However, the AM share is just a profit sharing (it's not even the share of the company bit fountain, if I am not wrong). Apparently AM has no liability to pay any dividend as long as there's no profit. Moreover, considering AM has already paid more than 6x of IPO price as the dividend, they really do not own the ( profit sharing) shareholder anything if they choose to close today. I know it's really unfair for those bought AM shares at high price, but the reality is the reality. Umm, no thats not how it works. The shareholders collectively own all of AM assets. If AM closed today they have to liquidate those assets and return remaining the capital to the shareholders. Unlike the complex situation with AMHash, all AM assets are owned by just one company, which makes litigation easier if they did anything outside of the best interests for the shareholders. ye-this which brings us back to the supposed AM blockchain address it had 90 odd thousand btc before FC bailed- now has ~30K is it AM's wallet? tracing the btc might help figuring out where he went. whatever side of the coin you are on, nothing moves until those coins are accounted for. they are the coins that would pay out amhash holders, they are the coins that might prop AM up for another attempt at something. just taking those coins and running away is embezzlement. killer is, I made money off AM at first, bought back in later, and havent seen a penny profit since. really thought they were a contender. i even made money on AMhash1, treating it like a ponzi, i put btc in and took it right back out after I had my 20% gain. stayed away after that, but should have read the writing on the wall, amhash was the warning sign that all ethical standards and practices had left the building. poor fool me. |
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and another thing... has this been verified as the AM wallet held by FC? https://blockchain.info/address/3KBUuGko4H5ke7EVsq9B7PLK1c5Askdd7yif so has anyone been able to follow the coins? im looking at it but idk what im doing and get lost pretty quick. there is still 30k btc in it, but plenty moved out right around the bad news.... the majority went to 3KgtbGgaX2ngstNpvyv7LwpHSweVeqGbpM and 3MkwFfGNQDve7vz1z6gUDVxkuQpcSV3Mz8 after that, i have no idea? |
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What is most unacceptable of this ridiculous offer is not only the price, but the infuriating fact that they want us to wait A MONTH FROM NOW and then 5 WEEKS MORE to receive 1/4 of what we invested!!!!!
For AMHASH: I will send the papers to my friends in the Russian government who will in turn send them to their friends in the Chinese gov. and they will fry you as a cat
For HAVELOCK: I will contact Canadian IRS and denounce the whole maneuver to avoid taxes in Canada, and also file a police report against you and your brother.
delta roger delta, airwolf I'll call CSIS, FEMA, and the man from U.N.C.L.E. asic miner is the root of your problems FC is the guy you wanna track down he took all the btc everything else was just a house of cards i still can't figure out if it was brilliantly masterminded or we victims are just that easy to rob? |
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so this thread is now an AMhash thread like all the others, is it?
I got out of amhash as soon as my 5btc turned into 6btc, like a month in. Its my AM1 shares that I'm mourning here.
how do i get into the chinese social medias that discuss FC, AM, et al?
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i contacted shawn hagerty of the MSD months ago. he instructed me to give him my ID details, how many shares I hold, where and when I bought them etc. I assumed everyone else did the same, I don't think it is too late to do so if you haven't yet. it is kind of a pain to backtrace all the transactions where I bought the shares, from BTC-TC, bitfunder, and crypto-trade, but its all doable (I saved my APIs, but BTC-TC was helpful in getting my trade history as well)
not sure what happens if Kenny simply hides forever? I mean, he's been handed some huge fines, owns property in Missouri, hes and old incompetent dillweed...I don't think he can vanish quite so completely. we shall see i guess.
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Now? There's been nothing left for over a year. Just smoke and mirrors.
 Still a million dollar marketcap somehow. I guess based on the chance that FC emerges? Or that no one can get their shares from FC to sell them  What a mess. I hope he has a change of heart and decides to come back and figure out a way to continue the company or dissolve it. Running and hiding is childish, if that was his plan. that's the only thing that gives me any (very faint) hope. FC is no idiot. To just run away is idiotic. of course, I can just imagine him and the rest of bitfountain drinking beers and reading these threads, laughing at us, knowing full well there is nothing we can do about any of this. How is running away idiotic, exactly? He's got a fortune. He's got the know how to create a new asic. All he really loses is the goodwill of his fried cat name, which was valuable but not millions of dollars valuable. would you hire a guy who ripped off so many people and ran? would you want anyone to know you employed or even cooperated with such a thief? would you give funds to such a man for future endeavors? if he did steal all this his name is mud, and not the fried cat name, but his actual identity, its all over these threads...there are too many detectives on the internet to remain completely anonymous. a blatant theft such as what this appears to be is career suicide, at least in the btc/asic world, and trust me, if he surfaces in aerospace or some other tech related feild where his skills are valued, we will be more than willing to let his bosses, investors, partners know exactly the type of businessman he is. I don't think he would be that reckless. swiping a few million is one thing, keeping the ability to earn potentially many many more millions is quite another. granted, it doesn't look good, either way, and I hate to admit it but as of now it looks like he simply embezzled the whole AM and fled. no one can say 100% for sure yet as none of us know a thing. the board, it seems were just puppets who were never told anything to begin with, everything is in the dark. Chinese authorities are sure to be interested, but language barriers might make this difficult too. which brings me full circle back to the top where I guess he actually did just fuck us all and take the money and run. why not? not a single person here can do shit about it. are you going to go to china, learn Chinese, then do all sorts of detective work, deal with Chinese authorities, hunt down fc and then take him to an abandoned warehouse where you hold a gun to his head and demand he give you all the btc? i cant really blame all these various "securities" for scamming like they ALL do. Its the easiest burn in the world. anyways, I'm moving forward with a new concern... anyone wanna buy shares in MY brand new, super excellent ASIC company? get in at IPO only 500000 shares at 0.1 each, super high returns, 100% guaranteed  |
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Well, this situation seems to be spiraling out of control and appears to be much more dire than I originally thought I read it to be. I hope justice is served to the parties in the right and if there's any bad actors, that they have to pay restitution.
"paying restitution" would be a first in the btc securities world. Its no wonder so many all the securities are frauds and cheats, you can rip people off with impunity, nothing will ever happen. these guys must laugh, I mean, its the easiest scam in the world, free money, no strings attached. makes me sick. |
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Now? There's been nothing left for over a year. Just smoke and mirrors.
Still a million dollar marketcap somehow. I guess based on the chance that FC emerges? Or that no one can get their shares from FC to sell them What a mess. I hope he has a change of heart and decides to come back and figure out a way to continue the company or dissolve it. Running and hiding is childish, if that was his plan. that's the only thing that gives me any (very faint) hope. FC is no idiot. To just run away is idiotic. of course, I can just imagine him and the rest of bitfountain drinking beers and reading these threads, laughing at us, knowing full well there is nothing we can do about any of this. |
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i was also thinking he might have been poached by another company. shit. isn't taking all the btc with him embezzlement? like shouldn't that btc be distributed to shareholders? i mean if this were the "real" world not unregulated anonymous internet land.
also, the taped out chip...this is IP and must have some value. or did he abscond with that too?
if he has gone "across the street" hes bound to surface soon enough. small world this asic manufacturing scene.
its all reminding me of tom sawyer, when they think he died and are all grieving, until he shows up alive and they want to kill him.
i wonder how long the board and the rest of am knew about this? (if true)
or maybe hes out in the field spending those 1000s of btc getting chips made at some obscure Chinese plant
they do knock off electronics in china, maybe hes getting them to knock off some AM chips real cheap?
i don't know if that's even possible...
fuckin grilled cat
id like to braise his tail!
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