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101  Economy / Securities / Re: [ActiveMining] Official Shareholder Discussion Thread [Moderated] on: June 02, 2014, 09:48:25 PM
The law would not tell Ken to refund people in Bitcoin.  They don't recognize Bitcoin as a currency.  So the refunds would be in cash.  If you paid $140, he'll have to refund you $140.  Based on what you paid in cash is what you will get reimbursed.    

 

So it would be off IPO price then?
102  Economy / Securities / Re: [ActiveMining] Official Shareholder Discussion Thread [Moderated] on: June 02, 2014, 09:34:39 PM
Is the refund BTC denominated. As in .0025 a share?
103  Economy / Securities / Re: [ActiveMining] Official Shareholder Discussion Thread [Moderated] on: June 01, 2014, 11:23:53 PM
Lol I'll remember this post for you Zum.
104  Economy / Securities / Re: [Active Mining] The UNofficial Active Mining Discussion Thread [UNmoderated] on: June 01, 2014, 04:03:52 PM
Anyone care to discuss alternate ways of getting the website fixed? It has been top priority for a month now. Apparently we don't have anyone on the VMC team with sufficient knowledge of code

Wildfire.ca and Lewicki have offered services for free and hacking into it has even been mentioned...how realistic would this be?


Make a new website with guides and redirects.
105  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: June 01, 2014, 03:55:16 PM
...
Wouldn't the board have said something if the person they were meeting with had changed/the company was sold? ...

If it was in the board's best interest, yes.

Well we haven't seen board members unload shares, if they are privy to information this catastrophic, then wouldn't they have tried to unload shares before the everyman would have found out? Maybe I missed it.

JoTheKhan, not sure if I remember you from Active Mining or Ukyo threads, could you remind me?  I remember similarly heavy logic being dropped in both.

Not the Ukyo thread, definitely the Active M. Thread. My logic in Active Mining thread has pretty much been that dividends won't exist by the very definition of what a dividend was. Since the company has and will continue along in the Red until it folds or pigs fly. I believe we had a very nice conversation about this until it was deleted. =/

Edit: Please enlighten me on how this specific scam works though. I don't think I am being roped in on scams, as I am Up in AsicMiner at the moment, didn't get caught in Mt. Gox, Labcoin ( I actually made some money flipping the IPO shares since it was so obvious about the pumping, I actually feel guilty about this ), skipped Neobee, didn't keep money on WeX or BF, or any of the other stuff.

Active Mining being the only big red blot on my history, 100% fault of my own.

I always look forward to your advice. =)

I guess there is an assumption that the board members were paid off to not say anything about the company being bought or some other nefarious event?
106  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: June 01, 2014, 03:21:49 PM
...
Wouldn't the board have said something if the person they were meeting with had changed/the company was sold? ...

If it was in the board's best interest, yes.

Well we haven't seen board members unload shares, if they are privy to information this catastrophic, then wouldn't they have tried to unload shares before the everyman would have found out? Maybe I missed it.


well, wait nvm...

600 isn't 5K though, I know you had someone who was trying to offload some, but those weren't close enough to be a Boardmember. If the company was going to shit and the Boardmembers knew of it, then you would expect to see 2-3 Boardmembers trying to unload atleast a couple thousand, if not all of theirs.
107  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: June 01, 2014, 02:30:05 PM
...
Wouldn't the board have said something if the person they were meeting with had changed/the company was sold? ...

If it was in the board's best interest, yes.

Well we haven't seen board members unload shares, if they are privy to information this catastrophic, then wouldn't they have tried to unload shares before the everyman would have found out? Maybe I missed it.
108  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: June 01, 2014, 02:10:08 PM
Also I want to say friedcat could have run with everything after GLBSE went down. He came back and paid out tens of thousands of BTC he could have kept. I highly doubt he is going to start scamming now.
There is no friedcat.
"friedcat" is just an account with no RL name attached, Bitfountain could have easily changed account's owner down the line.

As long as he was giving regular updates yes, he was rightly labeled as reliable and trustable.
Then everything changed.
Like past dividends do not imply future dividends, past reputation do not imply you are still honest.
Especially if we don't even know who "he" is.


well i can not prove it but i do not think he sold his account or our company. I admit i might be wrong but i would be shocked.

Wouldn't the board have said something if the person they were meeting with had changed/the company was sold? I feel like this isn't something one just glosses over or tables till the next meeting.
109  Economy / Securities / Re: [ActiveMining] Official Shareholder Discussion Thread [Moderated] on: May 31, 2014, 03:14:55 PM
Miner you're not a victim anymore than the rest of us, and especially not about being censored. We all know what is going on.

Zum is trying to make the thread go off the rails so he can show how bad it was when people decided that this shit needs to be moderated. I can sympathize with that, do we need heavy moderation though? No I do not think we do. The trolls are not screaming and prancing anymore. There is little reason to do that now.

Ken, Q2 is coming to a fast close. Please give us a sincere update about what has happened so far this year and our financial situation.

Thanks.
110  Economy / Securities / Re: [ActiveMining] Official Shareholder Discussion Thread [Moderated] on: May 30, 2014, 10:29:56 PM
So why haven't we?

Lorenzo has thrown around the idea of legal action to oust Ken as CEO, so there has been attempts (I would be all for these attempts now, before I wasn't so impressed with the idea but Ken has proven himself to be a paperweight if he cant even fix his own website)

Remember Danny Brewster...

The fact of the matter is that we are dealing with someone who literally can't dot their i's and cross their t's...if that's not an issue for you then I don't know what to say to you.

It is an issue. It shows a lack of appreciation for the situation at hand.

Some sort of oversight or new leadership would definitely not hurt.

A board with some sort of actual control over the direction of the company would be wonderful. A PR person, even an assistant, a college/high school kid who you can hire for $10 or less an hour for 1 day a week to come and say.

"Ken has done X, Y, Z, but not W this week."

"This is the plan for the next month."

Would be better than what we have now.
111  Economy / Securities / Re: [ActiveMining] Official Shareholder Discussion Thread [Moderated] on: May 30, 2014, 10:22:12 PM
The main problem is so simple though. It's communication.

Hell, the reason AM's thread is so shitty right now is because of communication. The share price literally went to shit right when FC posted his Financials, mostly because people don't know how to read the charts he made. Which IMHO are pretty optimistic when you add them to Jutarul's updates. But see how the lack of communication can make even the behemoth keel. He should have obviously stated his plan for the next month or two along with the financials so people could see the entire picture.

I think many of the companies on this forum don't understand that communication is key. Keeping stuff a secret until all the shit hits the fan is only going to insight a riot. Not keeping people updated on avenues of pursuit is only going to cause more problems.

If Ken says hes working on something more important than the website. Then tell us. If there is some unmovable block that is stopping us from getting the website fixed and marketing rolling then we need to be alerted to it. How else are we supposed to effectively price shares or value the company in any shape or form?

At this point it's not about running the company inadequately, that can be fixed if it's not too late. It's about withholding information like a kid whose scared to show his parents his report card. It feels like more energy is being exhausted by Ken to deceive and stave off our answers and keep us blind and dumb than to make progress in the company. Now is this true? Who knows, we can't even comprehend what Ken has been doing for the last 3 Months that can account for a 15~30 hour work week, let a lone a 40 hour work week for him alone. Now include People's Asic, AMC/VMC's employees, etc.. and it just does not add up.

If asked what is Active Mining's Goals and its plan to achieve that for Q3/Q4 along with the amount of progress so far. I don't think any of us could come back with a definite answer on any of this.

Here are some questions that I don't think any of us could answer for certain right now.

  • Is Active Mining still in the black?
  • Do we have plans to expand to another DC?
  • Are we still working on our own chip? And if so how far along are we?
  • What percentage of refunds have been repaid (Not % of customers, but % of money)?
  • How many people work for Active Mining/Virtual Mining?
  • Do we actually have a Web Designer and/or a Financial Auditor who actually does work for this company? Is so, have they been dead/sick/on vacation for the last two months? Why have they not been fired?
  • A list of priorities for the company right now? (Such as 1. Hash Rate 2. Website 3. Mimosas)

Communication is super simple but with how simple it is, it is super important. Beyond a doubt it is fucking important.

112  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: May 30, 2014, 04:36:55 PM
This is to inform that friedcat met with the board today and provided some updates.

General Update
==============

The dividend schedule will be aggressive, as AM will not require large sums of retained capital. The rationale is that AM doesn't need to invest large sums into infrastructure and that the majority of chip production costs will be covered by the business partners on a contract schedule. The new round of dividends are scheduled to begin as soon as the first large purchases have concluded and should precede or coincide with the publication of the updated financial statements.

Specific Updates
================

Submitted Questions:
1) What is the status, size, and expected delivery of the next batch of chips? What about the one after that?
re 1) This month: 850k, next month: 3.35m (order size), June: 6.7m (order size), assuming each chip is 10G.

4) When are the new chips expected to start mining in ASICMiner datacenters and what hashrate are you currently planning on deploying?
re 4) May-June for air cooling and June-July for immersion cooling. They are only capable of 3PH. Most should go franchising or as chips for other vendors' OEM products.

5) When are the sales revenues of the chips expected to be paid out to shareholders?
re 5) When the balance payments are received and exchanged for Bitcoins.

General Disclaimer
==================

Please note that some information is subject to change, as this is a very agile business. Please be careful when speculating on company valuation. This information is purely provided as a service to current shareholders and may not be free of errors.


Wondering if this Aggressive dividend schedule still applies? How many chips have been currently sold?

Edit: Man people are selling down to nothing. My number of shares might increase by another digit soon.
113  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: May 30, 2014, 04:24:14 PM
Hoping we hit .1 or lower. That would be awesome.
114  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: May 30, 2014, 04:16:30 PM
Just waiting for the bottom now.
115  Economy / Securities / Re: ASICMINER Speculation Thread on: May 30, 2014, 02:08:45 PM
HELP !!!

I have not ran my multibit.exe for a couple months.
When I did... I noticed my last payment from Friedcat was March 30.  Why have I not received any payments beyond March 30?
My shares were with BTC-TC.  when they went down, they transferred my shares to direct with Friedcat.  All has been well up to the March 30 payment.
Anyone else have this issue?
Is there a direct link or website address to the shares that Friedcat has?  Does he have an email?

0df8dedd87...    Block 293199 (2014-03-30 07:44:04)    0.00286    Received: Address    

    115tTroRo3B9ZDQ6A...

Thank you !!


That was the last dividend.

https://www.havelockinvestments.com/fund.php?symbol=AM1

See there.
116  Economy / Trading Discussion / Re: bitcoinity.org/markets - live bitcoin price charts on: May 30, 2014, 11:45:21 AM
Just wanted to say thank you. I realized I have been using this website for so long without actually knowing when I started and it has been nothing but helpful for me.
117  Economy / Securities / Re: [ActiveMining] Official Shareholder Discussion Thread [Moderated] on: May 29, 2014, 08:47:00 PM
So Ken,

What you are saying is that basically we have all thwe hashfast customers?!?!?!

Almost certainly not, VMC will be splitting the HashLast customers with PepperMining which have a similar product but better reputation.

Peppermining has more than a better reputation, they actually provide support and working contact information to their customers.

Redundant since the latter is why they have the former. PepperMining is a good company and Mr. Teal a great engineer, but to the best of my knowledge (which is limited to the information from their thread) I do not think that they have the capacity to service the many, many dissatisfied HashLast customers in a timely manner (through no fault of their own) and VMC is simply an alternate route to get one hashing faster for a similar or cheaper financial cost (at the cost of greater risk based on what has been seen in the thread that you mentioned).

Also add into the mix that they may not be interested in providing HashFast with boards.

I am afraid I do not understand why they would potentially not be interested? Is there some financial incentive or is it merely for publicity's sake to not be seen as helping HashLast?

This is actually a very important thing. When people Google HashFast, after HF has a horrible reputation and people see it is tied with say.. PepperMining, it can hurt PepperMining's reputation if people don't actually take the time to find the ties between the two companies.

Technically I don't think this should matter because miners usually spread around what companies are scamming and what companies are not.
118  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: May 29, 2014, 09:03:23 AM
no, why?
there is a lot of honest and respectable ipo launchers,
for example crypt-x

You surely don't mean cryptx the operators of petamine and scryptx right?

I would love to know of any bitcoin IPO that returned 500% or even 200% in dividends.

please dont mix pass performance with recent activities.

all is about keeping promises, be informative and be transparent.

friedcat has ruined his reputation terribly.

Friedcat has not broken a promise. Can you show us which one?

Your argument is completely flawed based on this untrue assumption.
119  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: May 29, 2014, 07:07:56 AM
Quite a bit of drama appearing. Has anyone decided to reach out to FC or Jutarul to see if there was a date change or any updated information that can be disclosed passed the board and down to the shareholders?

Of course I am perfectly fine with waiting. I don't see an issue with no news or dividends until the end of Q2 personally. But it seems that everyday from this day onward with no information will only cause a depreciation of the share price and an increase in accusations and rumors.

With a rising BTC price, this hurts all of us. Even AM.
120  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: May 28, 2014, 05:56:19 PM
Would it not be possible to have 5K Shares add up from multiple different signed addresses?

Then designate a specific address holder as representative for a specific duration.

I don't plan to be a part of this as my shares are on HL and under 100 total. But I think there is a safe work around, that by all means would only add 15 minutes to the amount of time it would take to verify whatever information needs to be verified.
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