Please tell me what you just said invalidated everything i wrote, yeah... burn in a fire dumbass
You seem to be awfully butthurt over the bankruptcy, which is strange because every customer who has talked to me has been happy with what was done. You claim to have a lawyer, but you haven't been in the creditor conference calls. Why don't you man up and join the adults in trying to recover what we can from this scam? Unless you're just Eduardo using another sock puppet. And a scam it certainly is, and hopefully soon was... |
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No problem David. As you can see we are eagerly waiting news. We are also scared  So many people saying bad things like scam. Some of us took loans to buy this product. Others had some savings that they used. We were all hoping to be mining and make some of our money back by now. Anyway, here's hoping for some good news and regular updates in the near future Loans? Ouch. Interest on top of it all doesn't help ROI any. Interest wouldn't even be a factor if we had the machines on time. That was the gamble though. Way too risky to take a loan on a preorder equipment, that was a bad bad move. Indeed, but it's ok to make mistakes, as long as you're willing to learn from them. Same applies to BA. As long as they take the penalty instead of their customers. |
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What is happening is not a "bump in the road". For over a year, there has been a pattern that has repeated. That pattern involves a lack of news, being told to wait for the upcoming big announcement. Then the anouncement that comes is a grand disappointment. We may never know if Ken, at the start was sincere and believed he could do what he said he wanted to do. All we know is that despite his claims to have 30 years in business, he has not really ever been successful with any of his businesses, and that he has had a pattern of failures and bad decisions in regard to Active Mining/VMC. He also has had complaint in regard to a cable/data company he ran previous to VMC. Given Ken's track record with ActM/VMC, there is absolutely no reason evidence to show that this company has any possibility of being successful. In fact, the evidence suggests that whatever Ken's original motivations and intentions, it is now being run like a classic confidence scam. Ken has indicated to me in PM, that he believes that the amount that will be paid in settlement to shareholders has already been agreed upon and established with finality. That is a lie. I contacted Jason Kander's office at 1-800-721-7996 and was told that it has not yet been determined what and how much and according to what formula will be paid to shareholders. The impression that I have gotten from Ken and from his lawyer's press release (link below) is that Ken feels he should only pay the original investors, and then only the dollar amount of the value of the shares at the time of the first IPO, plus 8% interest. That would leave anyone who bought shares from any of the exchanges after out in the cold. My contention is that Jason Kander's office does not understand bitcoin, and we need to contact him and share our opinions and experience with him and his office and his investigators. Further, I am sure Ken will set up some high bar to prove that you bought at first IPO. My opinion is that ActM will not survive this little bump. Ken will try to hide any and all assets from ActM. Ken is not an honest man and anyone here who still has faith in him and trusts him is foolish. We each should contact Jason Kander's office and politely share what information we have. We should also suggest that we want payment in Bit, or at the value of bitcoin at the time of the cease and desist order and not the value of bitcoin at the time of the first IPO. Kander's office has heard from Ken's lawyer but has not heard from many of us. My further opinion is that all assets from ActM should be assessed and once a value place on them all, and a punitive fine added to that, and then that number should be divided by the total number of shares not owned by Ken or any member of the Slaughter clan. And, the payment should be made based upon that calculation. ActM should not be allowed to continue under Ken's control. Ken should be put into a situation where he is unable to start shady businesses ever again. http://www.ozarksfirst.com/media/lib/184/0/b/d/0bdcdfe7-623f-4653-be2a-7ba629d8ee70/Slaughter_Press_Release_6_3_2014.pdfPlease call Kander's office 1-800-721-7996. Tell whomever answers that you are a sharehold in Active Mining and would like to speak to the financial investigator. For those of you who believe that somehow, talking to the Secretary of State of Missouri has ruined your chance of being a millionaire, you are foolish. Ken by his own mismanagment, intentional or due to incompetence, brought this upon himself. If we do not educate Kander's office on the situation, Ken's lawyer will be the major source of info regarding Bitcoin and we will lose out. From the Press Release: "Mr Sheppard added, "Bitcoin have recently received substantial credibilty when DirecTV agreed to accept Bitcoins as payment." Uhh, wasn't it DISH? Yeah, but who cares right?  |
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I'm having 2 TerraMiners arriving there as we speak.
Will tell about experience soon.
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Just to confirm, so they are going into chapter 11 which basically means what?
it means instead of mining you get an education in bankruptcy laws... perhaps that will pay off more in the end  |
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And BTW, do you really believe the AC issues are causing the delay in hash rate increase at the mining farm?
Of course not: Some miners are probably retargeted to mine at his private account. How would anyone know right?
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We all knew this day would come. I'm actually glad it's here because once the dust settles we can move on with the company and continue without the MSD cloud hanging over us. It's the same old pattern with ActM. Suddenly we get what should be the coup de grace, we go down but don't stay down. I fact we seem to rise from the ashes a little bit stronger from the ordeal. ActM is a remarkably resilient beast and it's my view that we'll weather this storm as we've weathered all the others that have come before. In terms of shareholders asking for refunds there's a lot of chat but in reality it will have an absolute minimal affect on ActM. There will be hardly any shareholders who ask for refunds and those that do will be paid, in fiat, for a pittance. As usual there's a whole load of melodrama, exaggeration, people talking rubbish and pulling numbers out their arses, the usual shit stirrers and trolls resurfacing and the obligatory shareholder or two who finally crack and cross to the dark side. This time next month the share price might not reach 0.003 thanks to Bitcoin traitors but those of us who are holding for as long as it takes, we will have our day in the sun. Cheer up you lot, it might never happen! Seriously dude, ARE you Ken or some relative? |
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Is anyone speaking with Woodlake atm? I'm just wondering if that's an avenue I should look down..
Yes, but as a customer. He is still gathering info |
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Active Mining will have to use non-investor funds to pay a fine of up to $100,000 this will have to come from
the mining account only. The balance in the mining account will used to fund operations.
So instead of refunding customers, you will use the income of the mining farm to pay the fine. Great story. |
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He isn't refunding his customers with the unaccounted money, that's for sure...
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Just to let everyone know. We are not ignoring compensation. We have promised things and we will fulfill our promises. However we want to do it properly. For that reason we first want to get shipping running and get back to business as usual. However we will do the right thing.
Sounds good David. Another thing not entirely appropriate for this forum but: I have an outstanding request which remains unanswsered for over a month now. It is about transferring my order to Minersource, in order to host my machine there, as you guys don't have any hosting space left. Could you please check? Thanks! |
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their mining farm generates about $500,000 usd a day. They won't be going bankrupt anytime soon. They're just greedy bastards which is why they delay the refunds.
Sam Cole told Forbes they are making 8,000,000 SEK a day that's $1,203,552.00 USD currently. The only article I remember was one on a Swedish website that reported knc were mining three million kronor a day, which I calculated at the time was 3,000,000.00 SEK = 458,525.01 USD https://bitcointalk.org/index.php?topic=170332.msg6057284#msg6057284They are still mining $1million+ each week, so I also find it hard to see them going bankrupt any time soon. That is terrible. So they have driven the difficulty up using our per-order money to fund the operation and neutered our pre-ordered miners in the process while at the same time suppressing Bitcoin price by dumping them on the market as they are produced. Did Sam not say they had a "Customer first" policy?! Huh! Platinum member of the Bitcoin foundation to boot... Yeah, it seems you have to have a questionable CV to become a platinum member nowadays... And a great deal of (customers') money. |
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I thought the mining farm was simply hosting for customer ASICs? They said they would never mine with more than 5% of sales to customers! Wait I'll see if I can find a link to the quote... Here it is! https://www.kncminer.com/pages/faq <-- see question #2 Yeah, they didn't actually keep that promise. And that's not the only promise they didn't keep... |
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Hmmmmm, me thinks there are a number of BA staff in here trying to sway conversation and attempting to bring down any negative comments about BA. They are also really good at telling you to shut the f..k up! Just my personal suspicion.
I feel the same. I hope it's not something they picked up from the book "How to scam people for dummies". |
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Reading through the AMC's thread I think it could very well be AMC/VMC will play a role in HF chapter 11:
- provide funds for the reorganization
- take over the company's lead
Should this go through however, it would be replacing bad for at least equally bad...
@fredthedog
A company totally ignoring customers' requests (let me repeat that: no responses WHATSOEVER) other than taking payments, can not have good intentions, at least not in my eyes.
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BA, thanks for this update.
However, I hope there will also be improved compensation for the non-technically skilled customers, as we are nearing June!
That being said, is there any possibility to actually mine with only the PCB and chips without much technical knowledge? How are we supposed to communicate with the PCB?
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Anyone who ever managed to get a BA support representative on the phone (any stated number)?
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Hi, is it possible to join the suit? Can you send me some more info?
Thanks.
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Ken, your silence regarding my refund is forcing me to take the legal path now.
You will hear about my lawyer soon (or maybe you already have).
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