I'm starting to think that Cryptocurrencies might be one of the most environmentally unfriendly forms of barter.

KNC has 7PH not 17. And they will likely never go above 8PH since they are limited to a 10MW datacenter.

1,000PH would require 10% of swedens electricity..

1,000PH/s by years end? That would definitely be over 50% right?

If we have dropped the 28nm then were totally fucked.

Where can I read more about this environment? I'm very interested in having the same thing for my own app.

Great progress Ken.   Let's climb the leader board on Eligius and get to #1.  Heve we overtaken Bragraphics yet?  

I know of 2 others who I have been in contact with privately - both of whom are owed more vast sums of money than I am - into the thousands each. They are getting the exact same treatment as me. I'll leave it up to them to come forward. So they don't die of the shame of the public knowing they had dealings  with VMC.

$769

So I'm at a loss as to what to do next to get my money back from VMC.

Ken's own deadline came and went with out any comment or any check for that matter.

Anyone care to help me out, given the shareholders have told me to "fuck off" and that I have no rights to free speach.

Would this constitute reasonable grounds to say categorically in a court of law that the money has in fact been stolen from people and myself?

Yes. The official binary is compiled in a special environment that can be exactly replicated so that the binary can be verified. It's a bit difficult to set up, though.

OP, what you're suggesting isn't possible in Bitcoin by design. The blockchain can't just be altered by the dev team in the manner that this scenario would require.

The block which contains the MtGox transfers also contain numerous other legitimate transactions that occurred around the same time period before that block was solved.

The hash of a block is a long string of characters representing the entire hash of the previous block, a time stamp of when the current block was created, and all of the transaction data contained within the current block. If a single transaction is changed, the resulting block hash will be completely different. When a block is solved, a new block is instantly created and the cycle is repeated.

All of the blocks solved from then up until now rely on the hash of the block containing those MtGox transactions. Every block is dependent on the data contained within the previous block remaining concurrent. Changing something in a past block would cause a cascading failure event. The change would be rejected.

Each and every block uses the hash of the previous block in its algorithm. If you change the content of a block, the hash changes with it. If the hash of the next block does not check-out against the hash of the previous block it will be discarded. The blockchain from that moment forward and every transaction that occurred from that block onward would need to be reverted as if it never happened for such a change to be accepted...

The protocol will not allow the coins to be "frozen" since the act of freezing them would destroy the concurrency of a known good chain where the inputs and outputs are proven. The alteration would be discarded the same as a "double-spend" attempt.

Bitcoin can't do what you're asking it to do regardless of what the core devs think about the Gox situation... Bitcoin has no conventional "core" in that unilateral "source-code" alterations are not possible. If the community wishes to implement an improvement they must do it by consent. Community consent has limits in that it still doesn't mean they can change the content of a previous block. Improvements can only be implemented from an unsolved block onward. The only way to go back would be to discard all transactions that took place in the chain between the block in question and the current unsolved block.

Bitcoin isn't about Anarchy, it's governed by the most absolutely infallible system of law on the planet; math... The problem with math is that it cares nothing for emotion. If you have unspent outputs and the private keys to control them; nobody can stop you from spending them. That's not Anarchy, that's equality and neutrality...

Bit of a random quote but yeah you are right. The whole industry is high risk and many many people have lost out.

But look at ACtM - still trying and still trading. Atleast we have a CEO who doesn't give up. Sure he may be incompetent at times and completely lacking at other times ( ) but hey, he's a tryer. Sometimes that's all you need in business. The fact we are still going and making progress (it seems) says a lot about the CEO here that everyone here put their coins into. We might go down in a ball of flames (SEC/bankruptcy) but personally I wouldn't ever say Ken didn't try his best and you will never be able to say he took the easy route out and gave up at the first opportunity - (when eASIC gave us the elbow).

Could be yes. Whatever the figures all our money is probably going towards this third party 28nm and our own boards. We will be making a saving using our own fabbed boards, so we are not just using other peoples hardware to mine. We have lower hardware costs than off the shelf hashfast trade customers.

I might have said this before but I think these 5000 boards are all our money. If BTC continues to climb and they ROI then it was a good move and will make us stronger to continue with the 28nm (not 27) custom chip. If BTC stays where it is and we don't ROI we will be in a weaker position. In a fluid market place it was likely the best move if we didn't have enough is USD (with BTC at $400) to continue with the 28nm.

You can't blame Ken for BTC being $400 and that meaning we don't have enough to finish the 28nm project. If BTC was at 2k the 28nm would be full steam ahead. So my opinion is it was likely a decent move considering the weakness of BTC in Q1.

How do you know this?

Buying HashFast boards is not a plan but an exit strategy.  The coup de grace to make Active Mining look like a honest failure instead of a scam.

@drawingthesun:  You were warned before you "invested," while you were "investing moar" on the way up, and sure, now it's too late.  The trick's listening to advice of your betters, instead of calling them trolls, shutting your eyes, and hoping for the best.

I tried to warn you people for a long time, but everyone kept supporting ken. I don't think it will last much. He has no chip project going and he is using 3rd party chips/hardware while this wasn't the initial plan.