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421  Economy / Securities / Re: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated] on: December 15, 2013, 06:02:59 PM

ACTM will only have 24 Th/s? With atleast half of the manufacturing capability going towards the mining facility, that assumption means that the company will only produce 48Th/s or less. If you believe that, then you shouldn't have invested.

Yes, mining is an area with diminishing returns. Is that what you're trying to say? Or are you just trying to scare people with this obvious reality that hopefully investors are already aware of? Being a manufacturer of rigs, we have a HUGE advantage over non-manufacturing miners. Not only that though, even when mining becomes less profitable, we will receive income from software and hardware sales. Ken is smart and he is creating more consistent revenue streams in addition to the focus on mining. It's easy to forget when you're a part of the hype, but as they say, the people who sold shovels were the most profitable in the gold rush. We're a part of both sides of the gold rush. Ken has a lot to gain from this company being successful, and he has the most to lose from it not being successful. He's going to give everything to make this work. I believe he will.

That being said, if you want to get rid of your shares when we start trading, I'm sure you're not the only one. Bitcoin has gone up more than 1000% since a lot of us started investing in AMC. Investing is about making a profit, if you've made a profit in your eyes then by all means, do what you want. You can't lose money taking a profit.

Disclaimer: I don't really care where the share price ends up when trading starts. I think the dividends have the potential to be excellent.

I'm not sure what the deal is with the people in this thread. Psychologists could probably learn a lot from it. We've got a little bit of everything here. In the end, it doesn't really matter what any of the posters in this thread think. Things will happen how they happen. Fighting the stupid comments in this thread is impossible. Peace.

Half of nothing is nothing.  And if something ever appears you're going to be facing a 100 Ph/s network.  There are practical limits to scaling, as ASICMINER's spectacular fall clearly demonstrates.

I'd advise examining your own psychology.  Buyers remorse has moved to cognitive dissonance which has developed into outright delusional behavior.
422  Bitcoin / Press / Re: 2013-12-11 USAToday - At Bitcoin conference, two 'gurus' draw a crowd on: December 15, 2013, 04:48:32 PM
 Huh

That reporter wasn't at the same conference I attended.  There were no throngs of admirers.

I just saw an opportunist pumping his scamcoin.  The organizers of the conference should google their speakers before embarrassing bitcoin.

http://www.wired.com/gaming/virtualworlds/magazine/16-12/ff_ige?currentPage=all
423  Economy / Speculation / Re: Ripple competition on: December 15, 2013, 02:27:43 AM
Mods: Doesn't this thread belong with all the other scam coins?
424  Economy / Securities / Re: The coming flash crash in AMC on: December 14, 2013, 10:51:12 PM
I told the cultists and cheerleads to stop drinking LabKen's Kool-Aid.

They don't believe it actually. What they believe is that cheerleading, and censorship, will get their shares to be worth more. (Also, hiding bad information makes them scammers, but I doubt they care about what's right.)
What they don't realize is that anyone with a brain can read their circlejerk, see that it's a madhouse, and GTFO.

Checking back in after a few months sanity rest, I am shocked that there are no chips.  With the millions that were raised a competent crew would have delivered (as a few others have in the same time frame).  I criticized this whole venture for the outrageous valuation and lack of qualification of the operator.  I didn't expect it to degenerate into an outright swindle.

Given the pitifully low liquidity that will be available on the new exchange, I expect folks will be able to delude themselves into being bitcoin millionaires for a few more months.  Good f*cking luck actually swapping any volume of worthless shares for valuable bitcoins though.

As an aside, profiting off a garbage stock doesn't make you a genius, just a fortunate fool.
425  Bitcoin / Legal / Re: Possibly dangerous tax situation when mining in US on: December 14, 2013, 07:01:55 PM
Actually, other threads in legal are reporting that the IRS is delivering opinions that bitcoin is not a capital good.

This means that you can't claim a capital gain on your bitcoins and have to recognize all income from the sale of bitcoin as earnings.

It also implies that you don't need to recognize the bitcoin as income when it is mined.  A farmer doesn't pay taxes on corn when it grows, he pays when he sells it for cash.

There are likely to be legal disputes every step of the way here.  You would be wise to get an accountant and a formal opinion letter from the IRS on how to handle things properly.
426  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: December 12, 2013, 12:30:36 AM
Thanks for all your efforts on this D&T.  This worked perfectly on my dead machine as well.
427  Other / Off-topic / Re: While in Las Vegas, I'll be wearing a... on: December 11, 2013, 03:24:15 PM
If it's any consolation you didn't look half as ridiculous as Josh sounded.  I'm still wondering if there was any message he was trying to convey with that incoherent, off topic talk.
428  Economy / Securities / Re: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated] on: December 09, 2013, 05:57:29 AM
Entropy, if you're going to fuck off soon then that's great, you've had your fun.

But if you a going to hang around until you've served your purpose, please have the decency to explain to everyone EXACTLY what that purpose is.



Read my posts and you will find a few dozen that clearly define my motives for posting.

429  Economy / Securities / Re: The coming flash crash in AMC on: December 09, 2013, 05:52:34 AM
There have been some requests that I post a link to the post where Ken admits being under SEC investigation.

Since the moderated thread is getting random deletes, here it is
https://bitcointalk.org/index.php?topic=297503.msg3434356#msg3434356
430  Economy / Securities / Re: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated] on: December 09, 2013, 03:44:38 AM
2. The pirateat40 path: The SEC prosecutes Ken for securities fraud and siezes all assets.  I see Ken has already acknowledged that the SEC is investigating him, so it might not be long before this one comes into play.

Woh woh woh, where does one reach this conclusion?


1. Ken was issuing illegal securites via BTCT and Bitfunder.
2. BTCT and Bitfunder shut down due to their potential legal liabilities
3. Ken acknowledges that Ukyo informed him that the SEC had specifically inquired regarding AMC
4. Bitfunder's assets are suddenly unavailable
  4 a) the only explanation that doesn't involve a ripoff is that those assets have been seized by a legal authority

It's hardly a wild leap to conclude that there is a significant chance that the SEC investigation into Ken will lead to charges and asset seizure.
431  Economy / Marketplace / Re: Burnside: Why are you not making BTC-TC code open source? on: October 17, 2013, 05:29:26 PM
Your assumption that Burnside is rich is likely to be incorrect.

BTCT might have been very profitable for a few months this year.

But, by the time he pays his lawyers to defend against the SEC, it's unlikely he will have anything left.  Even worse, his legal bills are likely to be largest in future years when he will be unable to write off the expense against income since btct no longer has any funds.
432  Economy / Securities / Re: [BitFunder] IceDrill.ASIC IPO (500 Thash Mining Operation powered by HashFast) on: August 13, 2013, 06:05:00 AM

Great advice from the master of: I win, everyone else is lucky to get out with their skin intact.

I wasn't sure about this mess, but seeing you pimp for it makes it obvious it's a ripoff.

I think some day you'll learn that you have that first sentence backwards. Nice refutation of my points, though  Roll Eyes

What exactly is there to refute?

You have an IPO by an operator of a pass through who is too busy to account for who actually owns shares, being supported by a serial scammer entrepreneur.  How are things working out for the investors of Feed ze birds these days?


Both me and Ukyo have very little amount spare time at the moment same with Friedcat.
We will do our best to hurry up the transit.
Sorry about these delays.
//DeaDTerra

You ought to address the very valid concerns many Satoshi dice investors have before taking up a new career as a stock shill.
433  Economy / Auctions / Re: [WTS] Bitmine.ch Avalon 4 Module Clone Batch 2 on: August 03, 2013, 01:04:15 AM
wtf?

no chips, no power supply.

So you want $8000 for an empty box?
434  Economy / Computer hardware / [WTB] Avalon 3 modules systems on: July 31, 2013, 08:41:07 PM
Looking for additional 3 module systems.  Must be undamaged and overclockable to 80 GH/s.

Willing to pay 85 BTC each for up to 10 systems. 

I will also consider BFL singles for 54 BTC.
435  Bitcoin / Bitcoin Discussion / Re: BREAKING: SEC Charges pirateat40 With Running Bitcoin-Denominated Ponzi Scheme on: July 28, 2013, 07:22:57 PM
Next up: Hashking aka Sam Theofanopoulos, 7262 W Benton Dr Frankfort, IL 60423

I really hope they go after all the PPTs and the Starfish too.

Ugh, I'd hate to see otherwise 'good guys' go down with the ship. But I suspect the SEC will be going through all of this through a fine toothed comb. If anything, this will be teaching the government law enforcement quite a large amount about bitcoin. I wouldn't be surprised if the people working on this investigation turn out to be the real bitcoin/blockchain experts.

The PPTs and Patrick are good guys?  I'd like to see you explain in what fashion any of those assholes are good guys.  All of them rapidly defended an obvious ponzi scheme.  Many of the passthroughs didn't pass through and did they own default under the cover of Pirate's.  And the PPT.div was the biggest ripoff of all, devised to fail and lose massive amounts of money for investors even if Pirate had paid off.
436  Economy / Securities / Re: SEC Charges Bitcoin Savings and Trust (BTCST) as Ponzi Scheme on: July 25, 2013, 04:21:12 PM
Agreed about the steps Stars take nowadays.

Think the main thing which will cause the SEC to go after an exchange will be when some significant-sized asset scams/defaults/fails and the operator and/or victims are in the US.  At that stage if they're having to investigate the security it kind of makes sense to go after the exchange at the same time as they'd have to interact with the exchange one way or another whilst gathering evidence.  I think that's probably AMC's best change of making headlines in the BTC world tbh - around middle of next year when it becomes apparent investors are in for a large loss to something run from on US soil.  They only need 1 US investor for all the foreign registered companies etc to be irrelevant - and AMC gave profit projections in USD so has no 'it's a game' defence to even try to hide behind.

Best defence for those of us actually running investments is to make a profit whenever the outcome of an investment hinges on our own predictions, competence or efforts.  That cuts out a lot of potential charges right away.  Not being in the US also helps of course.

I doubt that it will take that long for AMC/VMC/AM/Ken Slaughter to get a visit from the folks with black suits and subpoenas.  Much of the reason no one has been prosecuted by the SEC up until now is because the SEC has never done it before.  Organizational inertia is a major factor in government.  Now that the path has been blazed that bitcoin securities offenses can be prosecuted, ambitious folks in the SEC are going to see all the low hanging fruit and go make their careers.  And there is no need for the current suckers to actually lose money and complain, a competitor could start the ball rolling just as easily.  Do you think Inaba is above dropping a dime on Ken?
437  Economy / Securities / Re: SEC Charges Bitcoin Savings and Trust (BTCST) as Ponzi Scheme on: July 24, 2013, 01:08:58 AM
So I guess Erik Voorhees "IPO" and subsequent dump-o-matic plan put him in the eyes of the SEC eh?

Hope he doesn't have any plans for being in the USA anytime soon.
Last I've heard Eric was staying in Manhattan, somewhere close to the BitInstant offices. He may have even purchased some real estate in the USA.

But his repurchase of the SatoshiDice shares with the "goodness of the heart" premium to match and slightly exceed the IPO price could definitely be his "get-out-of-jail" card, at least as far as the past actions are concerned.

I really didn't pay much attention to the SatoshiDice sage, but outwardly it does agree with the very professional legal advice that I've heard at lunches.


It's interesting that you assume he sold the company back to himself.  I assume the same.  Is there actually any evidence of this?

Erik carries much more risk in operating a gambling site from New York state.  The folks that have carved out legal exceptions for gambling in the US are very jealous of their franchise, well connected politically, and they don't play nice.
438  Economy / Computer hardware / 12 Cairnsmore CM1 4xLX150 FPGA 1.8 BTC on: July 23, 2013, 05:33:24 PM
Selling off my Quad FPGA boards.  All boards perform in the 760-820 Mh/s range.  I will ship either in the standard configuration with a single top down fan, or paired with updown cable and stacking hardware.  Each unit includes a tested USB cable.  Up to 12 available.

Price is 1.8 BTC plus shipping and escrow fee, if any.  Escrow with John K.  Shipping is typically $20 in the US.  

Here is a link to a previous sale.

https://bitcointalk.org/index.php?topic=151573.msg1608562#msg1608562
439  Economy / Auctions / Re: Selling 6 shares of asicminer @ 4.85 btc no minimums! on: July 19, 2013, 12:48:18 AM
why don't you post your dividend address and sign a message with it?
440  Economy / Exchanges / Re: bitfloor issues? on: July 17, 2013, 08:57:24 PM
We, bitfloor's customers got robbed.  Technically Roman says he got robbed, but never posted any proof of that.  Then he just handed people IOUs and refused to discuss any of numerous options to mitigate the damage.


That bolded part is a total, complete, and absolute LIE. Yet you keep repeating it over and over again. Roman did discuss the options with the community, and did look for either investors, or for someone to buy up the debt. Numerous options were discussed, and all of them failed. Repaying the debt from Bitfloor's profits was the only option available to Roman. Just because you weren't around for that, doesn't mean that it didn't happen. Please do not repeat that lie again.


1. Police reports filed regarding theft
2. Details of how the site was compromised and a forensic evaluation of the attack vector
3. A detailed review of what actions Roman took to mitigate losses.  Continuing to party at the London conference are not the actions of a responsible man.

#1 I don't know about. I don't remember hearing anything about a police report, so it may not have been filed.
#2 was disclosed in depth. Roman explained the whole situation, what happened, how things were stolen, and how he screwed up.
#3 was disclosed fully, including new security methods and precautions, possible solutions to recover money, and the details of the final solution settled on. I don't remember Roman partying in London at the time.

Bullshit.  Show the posts where Roman discussed anything.  He went to ground and has been unavailable ever since.

He explicitly rejected transfers of the debt.  He didn't offer any options for public investments, at a time when there were many operating exchanges.  He didn't propose any options other than eat your held bitcoins and smile.

If you want to accuse me of lies find some facts that support your story.

Of course you think that remaining in London and partying while a quarter million dollars of customer money was gone is appropriate, so there really is no point in attempting dialogue with you.  You've joined Icebreaker and Inaba on my ignore list.
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