Weekly Update: 1/8/13
Ken doesn't even know what day or even year it is. At least he got the month right though.  |
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The only scam I see around here is the fact that a non shareholder with a personal vendetta is trying to stir up shit and cause trouble and given that half a dozen 'yes' votes are all from crumb's many faces and the rest are from ActM competitors and Asic Miner fan boys, what we have ladies and gentlemen is a nominee for the funniest bitcointalk thread of the year! Lol. Seriously guys, get real. 'Let's sue Ken, but hold on won't he spend our Bitcoins on paying his lawyer to defend himself?'. The first lawyers office you went into would laugh you out the building for Pete's sake. Total hysteria and frankly quite embarrassing. Kids, you can't sue a company because they informed you they are behind schedule and have experienced issues with a sub contractor and you are butt hurt because you can't cash in any bitcoins yet for some spendies now that Bitcoins are $1000 a pop. Life lesson 1: life can seem a bit unfair and the answer is seldom to sue. So you have no problem with Ken lying to us for months? I don't see what you do. Then open your eyes. PROGRESS REPORT
As of November 30th 2013
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Shipping:
We have this last week shipped our first products to customers.
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Weekly Update: 1/8/13 Question From VinceSamios: Update Requests:
When and Where will we be able to trade shares?
Crypto-Trade and ChromaWallet (colored Coins). As soon as we get time to finish the verification interface; however, our core business comes first and working on Intellihash. Active Mining PR-Staff Since you've been deleting forum posts for the last few hours, how can you claim to not have time to finish the "verification interface"? Surely your time would be better spent getting the "verification interface" up and running than wasting time deleting forum posts that people will just repost anyway? |
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Total bullshit censorship going on, even my post to ask Vigil to expand on his point???
The person behind this wins. I'm outta here. Pathetic!
Someone quote this so others can see what's going on.
I would hope whatever censorship is currently going on is not from ActM, considering there are way more important aspects of the company's focus to be working on. It most definitely is ActM. If you check "My Messages" and scroll down to the last post you see: A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.
You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations. |
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Mabsark your favourite word is 'delusional' but just because you disagree with someone does not make their view delusional. Your view that someone is delusional because you disagree with them is ironically the delusion.
Now on to your point. Yes if customers come on here and see posts like yours and your thread about taking the company to court I think they might well cancel because you have given them the impression their orders will never ship. So you are fulfilling your own prophesy.
The only saving grace we have to the effect of yours and the Trolls negativity on customers views about asking for a refund is if btc appreciates enough to make our assets worth more. Then we can refund in fiat and still have funds to progress the business.
But please keep trolling if you really think that will help this company. Oh hold on I'm thinking you are a shareholder - are you?
It's not my favourite word, I just use it a lot around these parts for obvious reasons. Look at what's going on (or more accurately not going on) for crying out loud. I showed you the maths last month when I claimed full production wouldn't be till April/May and it was an extremely bleak picture with dividends less than that from the Avalons. Ken's latest update makes what I said look like a best case scenario. You called me a troll back then for using facts and maths and stating the obvious. You call me a troll now for stating the obvious. delusion - an idiosyncratic belief or impression maintained despite being contradicted by reality or rational argument, typically as a symptom of mental disorder It should be pretty clear to everyone here that cheerleaders like yourself are in fact delusional. |
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I believe Ken said in the last official Progress Report that we have liquid assets of over 2mill USD. Now he isn't going to say we have that much if he intends to scam OR if he intends to wind the project down and let us down slowly.
So we must accept he is making a go of it. That reported 2mill in assets (cash and btc) will need to be accounted for should the business fail. So if Ken thought the business was close to failing he would not have said we had so much in the bank. Infact he would have paid most of that out to himself as wages and costs before the accounts were done for this report which is only 5 weeks old.
Like I said earlier, you have to be delusional to think that customers who paid for miners will not be asking for refunds given the latest update. |
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Based on Ken's update from 30th November: PROGRESS REPORT
As of November 30th 2013
...
Shipping:
We have this last week shipped our first products to customers.
Based on Ken's last update, ActM are months behind schedule for having working miners and by the time ActM do have miners they're going to be useless: Weekly Update: 1/8/13 Question From VinceSamios: Update Requests:
When and Where will we be able to trade shares?
Crypto-Trade and ChromaWallet (colored Coins). As soon as we get time to finish the verification interface; however, our core business comes first and working on Intellihash. When is the first batch of chips/boards supposed to arrive at VMC Assembly?
Our engineers are still designing our board. We had to change our engineering firm, and learn a few lessons about hiring an engineer firm. We don't have a date at this time. What do you estimate the ActM hashrate be at the end of January, February and March?
Due to our inexperience with design, we have had a few set backs; however, we have hired the most competent RTL design team to make sure that when we spin up our chip it will work. They are very competent at Low-Power and getting the most speed from the chip. Do you have any more accurate energy efficiency figures yet? w/GH?
Not at this time. Comment From The CEOHow I see us going forward is we will get our chip and boards into production as soon as possible. Active Mining is in one of the best positions to take advantage of the Bitcoin network. Once we have our chips and boards in production this year we will be one of only two companies in the world which manufactures Bitcoin mining hardware and also mines. With this combination we have unlimited availability to bitcoin mining hardware only limited by our resources. What I see in the future is bitcoin's exchange rate for USD going to over $10,000 in the next year. If this happens Active Mining with its own chip, our current resources which will be increasing with the exchange rate, and eASIC as our partner will put us in an excellent position to dominate our market. Intellihash will just be an added boost should it turn out to be a game changer. Kenneth E. Slaughter, CEO/CTO Forward Looking Statements:This press release contains forward-looking statements, including, without limitation, statements related to VMC’s future sales and the value of bitcoin and future hashing rates. Words such as "expects" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon VMC’s current expectations. Forward-looking statements involve risks and uncertainties. The company’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, economic conditions, customer business environment and inventory levels, government and technological factors outside of our control, adoption and roll-out of products, risks related to ability to capitalize on growth opportunities and markets, risks related to our ability to manage our growth and other risks that may cause our business, industry, strategy or actual results to differ materially from the forward-looking statements. VMC expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein. Active Mining PR-Staff |
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Wow! You really are an imbecile. Every time you post you reinforce people's negative opinion of you.
edit- since when has such an opinionated person like Stuart ever said he has no clue about anything, duh?
StuartUK would say something like you just did because he would think that people would be too stupid not to see through it. I also think you are StuartUK due to the fact you brought up Labcoin in response to me pointing out that customers will be demanding refunds and that by the time ActM start mining, their chips will be useless. StuartUK and zumzero have always pulled that shit but zumzero has been posting as zumzero and I haven't seen any posts from StuartUK. Therefore, you are most likely StuartUK. |
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Just thought people here should know the current situation. Weekly Update: 1/8/13 Question From VinceSamios: Update Requests:
When and Where will we be able to trade shares?
Crypto-Trade and ChromaWallet (colored Coins). As soon as we get time to finish the verification interface; however, our core business comes first and working on Intellihash. When is the first batch of chips/boards supposed to arrive at VMC Assembly?
Our engineers are still designing our board. We had to change our engineering firm, and learn a few lessons about hiring an engineer firm. We don't have a date at this time. What do you estimate the ActM hashrate be at the end of January, February and March?
Due to our inexperience with design, we have had a few set backs; however, we have hired the most competent RTL design team to make sure that when we spin up our chip it will work. They are very competent at Low-Power and getting the most speed from the chip. Do you have any more accurate energy efficiency figures yet? w/GH?
Not at this time. |
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I've been telling you guys for months now that Ken is an incompetent liar. This became pretty damn obvious to me during the initial AMC tenders to ActM. It was obvious then that Ken couldn't even create a script to do them automatically, never mind anything more complicated. Expecting miners in January was pure delusion.
ActM supposedly have about $6 million worth of orders. Does anyone here think those people will be happy to wait for a few more months for their product? That is also pure delusion. Those pre-orders are getting refunded or ActM is getting sued into oblivion.
By the time ActM has miners, their chips will be about as good as AM's are now - pretty fucking useless.
Ken's total incompetence has destroyed any chance of ActM being profitable, I don't see it still existing by the end of the year, probably getting sued into oblivion by customers.
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Wow! There's a blast from the past! (That's ten years in Bitcoinland). How are you doing Mabsark? You ever win those 1000btc from Labcoin? Either you didn't and are back here in a desperate attempt to salvage one or two, or you are here to turn your 1000btc into 2000btc. Want me to take a guess?  Nope, but speculative trading of Labcoin actually saw me far better off than if I had just held ActM. How many people now wish they sold their ActM shares when they were going for more than 0.005 BTC? When they lifetime ban you, do they just block your IP or do they ban your account too? If its just IP you could just log in from somewhere else, no?
I don't know the details, all I know is he said he couldn't log in, his IP was barred. That may have changed or he may have got round it I don't know. Did zumzero specifically say he had a lifetime ban? |
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It shows that either you or zumzero was telling lies. If it was zumzero, then why should we believe anything else he said?
I'm not being funny but can you explain that a bit more. I just don't get it. If it's because I said he was banned but now he's posted well he told me via email his IP was banned and that was the last I heard from him. It seems he has somehow got back on here. Maybe his IP wasn't banned? Sure. And to top it all I heard from zumzero via email today that he has received a lifetime ban from bitcointalk. He says his IP has been blocked.
Obviously, he hasn't had a lifetime ban. So, if the email was real, zumzero is a liar. |
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Can I ask what the point of that is?
Please keep it brief. I don't want a massive argument with you Mabsark - which is all you seem to do when you turn up here.
It shows that either you or zumzero was telling lies. If it was zumzero, then why should we believe anything else he said? |
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And to top it all I heard from zumzero via email today that he has received a lifetime ban from bitcointalk. He says his IP has been blocked. Yet crumbs and VE are still posting FUD like crazy.
This place is not fit to host the ACtM thread. It's bad for investor morale and bad for business. Imagine what a prospective buyer is going to think after reading what is going on in here today. Are they going to order? No. I wouldn't either based on the lies in here.
This company will succeed but there is the potential for a loss of customers and the creation of ill-will between our suppliers and ourselves through the dirty work going on here. eASIC might not be so keen to keep supplying us if their name is dragged through the dirt like it is being. Where would we be then?
THINK people.
... Here are all the PM's that ever occurred between myself and VE/Canadian Guy.... Hi CanadianGuy,
I read that you are looking to sell the miner you acquired from Activemining.
Is this still the case? If so, what price are you thinking of and would you be able to deliver to the UK?
Can I ask what hash rate you are currently getting?
Many thanks,
zumzero
4TH platinum and I'm getting more than double what i ordered. i was staring at it while drinking my beer and it almost hit 9th. highest offer so far is $45k and i said no. how much higher can you go? you cool with john k escrow? i want to buy active shares first before i show pictures, but if you're fine with trusting john K then ill still sell it. how about 60k? Hi CanadianGuy,
I am willing to discuss trading ActM shares for the unit instead of cash. That way we could close the deal very quickly indeed and you could ship the unit soon. As I'm in the UK it may take up to three weeks for delivery if you are in Canada?
Thanks.
Sure. how would we do this? i can ship express which should take much less time than that Shipments gets held for 2-3 weeks in the UK while they calculate and charge import duty/tax, or at least that was my recent experience waiting for my BFL hardware from the states even though they express shipped the good into the UK in only a few days. So are you in Canada? How many shares are you looking for CanadianGuy?
ok i did the math and 200,000 shares would be good Shipments gets held for 2-3 weeks in the UK while they calculate and charge import duty/tax, or at least that was my recent experience waiting for my BFL hardware from the states even though they express shipped the good into the UK in only a few days. So are you in Canada? How many shares are you looking for CanadianGuy?
yes im in canada 200,000 shares Quoted for posterity. Cool I knew he was a dirty liar, here's more proof. But he will be back on here after tonight's update trying to lay the law down. He's a scammer and liar. Quoted for posterity. |
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No it isn't. The value of a stock is based on all future dividends, discounted by risk and some penalty for future returns being worth less than money today.
What is going on in the next two months for asicminer is totally irrelevant.
AM has paid out about 0.6 BTC in divs and that was basically without competition for most of the time. This time around is not going to be as profitable. So, show us the maths which leads you to think that AM is not currently overpriced. |
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- As soon as his bullshit math is disproven, he returns with some new bullshit math to "prove" that asicminer will fail and ultimately waste our time.
None of you disproved anything. None of you even tried. You just started calling me a troll and telling people to put me on their ignore list. What exactly was that meant to disprove? Face it, my argument was blatantly obvious and your arguments were quite clearly ridiculous. Shareholders were simply too blinded by greed to see the truth of that at the time. You are making the same mistake all over again.
Like I said then, no one knows when. You didn't know then, and you don't know now. Saying a share price will fall isn't enough to make money. It's the ability to know when it will fall. Of course I knew that competition would arise. To think that competition would not arise was simply pure delusion. To think that the competition would not reduce AM's profits was simply bad maths. Look at when you were saying AM was overvalued, the price and profits increased significantly after your prediction. You were advising to not invest in AM when you could have doubled your money. You were off by several months, which meant significant profits earned by a lot of us during that time frame.
I wasn't off by months at all. I said AM wasn't worth the asking price and that by the end of year, you would realise that. So what if the price temporarily increased and you could have made money speculating? That's completely irrelevant. I'm talking about what the shares were worth. Are you claiming that AM was actually worth 5 BTC per share? AM has paid out around 0.6 BTC per share in divs and that was with it's massive network share and sales monopoly. Such profits will not be seen again. Anyone who bought at 5 BTC, clearly got ripped off. Anyone can go and check those comments for themselves and they'll see how intellectually dishonest you are being. By refusing to admit you were wrong, you just make yourself look silly. |
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Hurm, its only £550 to fly to Kansas from the UK - Might be worth the trip. Any other UK folk fancy an american adventure?
Are you paying? |
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@ mabsark: Hello, i might not be here for a long time but as far as im concern, your/my math is crystal clear. As i am working in an investment company this is basically all we need to make a decision: hence i am not buying for now (but i certainly will in the future, and i am not saying it will drop back to 0,3 or even lower). However, you may underestimate the possible outcomes of AM's overall strategy. They were the first mover so if anyone should be 3 steps ahead in the bitcoin world, its them. Finally, i found it quite unnecessary all this anger in response of your fair calculations. People tends to be even more passionate when it comes to their investment/money (which isnt wrong at all, i completely understand it as i may also be quite nervous sometimes). So to me it does not matter whether you where previously wrong before and about other subjects (labcoin, blablabla..). People learn from their mistakes and then sharpen their understanding and analysis. I would be much more suspicious if someone is always right (although some people can). Anyho, since this is an AM thread, could we please move on to some more relevant conversation? Or should we create a topic named "discrediting mabsark"... thx  It's good to know that at least one person here is willing to do maths for themselves. The security threads would be so much better if others would just do the same and actually start thinking for themselves. The funny thing is, I'm not even saying that AM will definitely not be profitable. I created a specific scenario, which is fairly plausible, and showed that under those conditions, AM couldn't maintain a 5% share of the network. Anyway, I think I'll just leave at that and take a break from here for a while. |
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So, was my argument wrong? yes, it was wrong. Your argument was that AM was already overvalued around 2.5 btc or so, and that upcoming competition would limit the profits and share price. While competition eventually materialized, it only did so after several competition failures and share prices increased more than 100% after you were claiming they would start decreasing. That's like saying the world will come to an end, and sure, you're eventually right, but only after being wrong for a very long time. I clearly stated that "By the end of the year, there will be plenty of competition" and "AM share holders are going to get hit by a good dose of reality in the coming months". So what if the share price temporarily increased? What was the share price at the end of the year? Did those who bought shares at that time get a good deal or did they get burned? Here's some of our discussions at the time: Perhaps you should have paid attention to the part where I said: The only reason why AM is able to charge such outrageous prices is because they've had no competition. By the end of the year, there will be plenty of competition. I heard the same thing in April, then May, then June, and now July, and now by the end of the year. When will this competition arrive, again? Yeah, clearly for the rest of time, AICMINER will be the only company able to produce ASICs.  well, the competition have been promising production for quite some time, and each one has failed to deliver. Why should we assume they will eventually succeed. Isn't the likely case that they will continue to fail? Another person, not paying attention. I never said anything like what you're claiming. I pointed out that by the end of the year there will be a lot more competition and showed how that will compare to AMs current hardware. The point of that was to show that AM will no longer be able to sell 2 Mh/s for 1 USD once that competition is available because the competition will be offering 50 Mh/s for the same price. Nobody in their right mind would buy AM hardware under such circumstances.
you are making assumptions that competitors will actually arrive with hardware and numbers to be able to make a dent in AM's sales. Will this eventually happen ? probably. When will this eventually happen? no one knows. To date, we've heard competitors announcing the release of their hardware every few weeks for almost 6 months. But nothing has arrived. So, what makes you think that they will eventually be able to get it done? And really, comparing vaporware with real hardware you can buy right now is complete nonsense. Vaporware is cheap to produce, cheap to sell, and cheap to promote. That doesn't make it any more viable, though. Face it, my argument was blatantly obvious and your arguments were quite clearly ridiculous. Shareholders were simply too blinded by greed to see the truth of that at the time. You are making the same mistake all over again. |
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Provide an image.
I'm absolutely certain that would be a restricted image under the NDA. 100% sure. Edit - thefunkybits reported. Why? The chips will eventually be delivered to customers who can take pictures. Once the delivery takes place the NDA is over. They had to have delivered something if they didn't screw up - show a picture. Does anyone know who programmed the initial FPGA hashing algorithm that eASIC used? Does Ken know how to program FPGAs with hashing algorithms? Ken doesn't even know how to create a script to deal with share transfers. |
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