[AMC]-The Official Active Mining Cooperative Discussion

[sayaz]

Now that our First Batch of Early Adopter shares has sold out we are waiting for the Avalon machines to come in and start producing revenue.  We will then start paying dividends to our Investors after the first week of mining with the Avalon's.  Due to the fact that shares were selling with good demand at the .0008 price level, before Ukto of Bitfunder.Com forced us to reduce the price to a bargain level, we will only be releasing shares in batch 2 at no less than .0008 BTC.

Also, we are implementing our Investors Protection Program (IPP) for those Investors who purchased shares higher than .0005 after May 28, 2013 04:59 CDT and on or before May 31, 2013 14:59 CDT.  IPP will reimburse our Long Term Investors the difference between the price they purchased their shares at, and the price of our shares on August 31, 2013 at 00:01 CDT or .0005 whichever is higher, only if the share price is below .0008 BTC on August 31, 2013 at 00:01 CDT.  The Investor must still own the shares to be reimbursed.  This program is being implemented due to Bitfunder.Com forcing us to price our shares at .0005, without due cause.  Of course we will strive in the coming months to raise the share price and add shareholder value to the shares our Investors hold.  

Why the 28th of May? I bought shares before the 28th at 0.0007, shouldnt I be also reimbursed? I didnt buy a lot at that price, so it's not a big deal for me, and I am in it for the long run, but I am just wondering why the cutoff is at that date.

Yes, I know the price was higher the week before, then dropped back to .0005 due to market demand dropping.  The shares were selling at .0005 before that date.  I hope to drive the share price up so this won't be an issue for you or me.  Let me think about this.  I will post an update to the program should I extend it, which I am thinking about doing.

Update:

Added a group to the program.

Cut us some slack and give us the same deal. I bought on the 21st and have held ever since. Its crazy for only those after the 28th to receive something like this. We made investments based on information given to us which later turned out to be false and have carried the most risk for what seems to be the smallest returns, especially if this program cutoff remains at the 28th.

[Entropy-uc]

Avalon Shopping Cart Screenshot:

https://bitfunder.com/asset/AMC profile->images

http://www.axs.net/AMC/AMC-Profit-Estimate.png

Now correct me if I'm wrong, but you entered 992 TERA-hash into that mining calculator...not gigahash.

It also states that you're expecting 1600 BTC/day, but only ~3600 is currently generated each day. You expect to control ~45% of the total mining network?
You don't even have a single functioning ASIC yet.

This is our 24 month projection with a 40X times increase in the difficulty.  We have gone from 384,000 MH/s on order to 5.651 TH/s on order in just one month.
Since we are putting back 50% of the revenue back into purchasing more mining power we will cause an exponential growth of hashing power over the next 24 months.
Of course the 992 TERA is just a projection.  Also, should we get to 45% of the network hashing power, we would not add anymore hashing power until
our control of the network falls back to 40%.

LMAO.

As an exercise for the reader who doesn't recognize what a complete fraud this is.  Consider this.

45% of 992 TH = 446 TH

Avalon power requirement.  10 W / GH.

Power needed for 446 TH  = 4.5 MW

Are you building a power plant along with your imaginary silicon?

One point you are missing, is we did not say that we are going to use Avalon chips for all of the 992 TH/s, so your calculation are a fraud.  If fact I have
told you over and over that we are working on a 45nm and a 28nm chip.  Those chips will use 10X less power that Avalon's.

Nonsense.  You will not reduce power 10x by moving to 28 nm.  You are just demonstrating that you have no idea what you are talking about.  BFL imagined the same thing.  You are just a wannabe Josh.

Lots of people are teaching themselves semiconductor design and manufacturing on the fly now.  I think that is great, and encourage more ASIC competition to come to market.  What I object to is amateurs using other people's money to fail.  Demonstrate that you actually know what you are doing by posting a real budget and schedule.  Because what you have said so far is elves and unicorns compared to the reality of building an ASIC.

[Mabsark]

Nonsense.  You will not reduce power 10x by moving to 28 nm.  You are just demonstrating that you have no idea what you are talking about.  BFL imagined the same thing.  You are just a wannabe Josh.

BitFury's ASIC is supposedly at 0.7 W per Gh/s at 65nm. What's Avalon at?

[Entropy-uc]

Nonsense.  You will not reduce power 10x by moving to 28 nm.  You are just demonstrating that you have no idea what you are talking about.  BFL imagined the same thing.  You are just a wannabe Josh.

BitFury's ASIC is supposedly at 0.7 W per Gh/s at 65nm. What's Avalon at?

Avalon is ~10W / GH/s.
BFL is 6 W / GH/s at 65 nm.

I don't know where you are getting your Bitfury numbers from.  If they are forecasting that result, they have either made a fabulous breakthrough in design or are in for a world of bad surprises when their silicon arrives.

[Mabsark]

Nonsense.  You will not reduce power 10x by moving to 28 nm.  You are just demonstrating that you have no idea what you are talking about.  BFL imagined the same thing.  You are just a wannabe Josh.

BitFury's ASIC is supposedly at 0.7 W per Gh/s at 65nm. What's Avalon at?

Avalon is ~10W / GH/s.
BFL is 6 W / GH/s at 65 nm.

I don't know where you are getting your Bitfury numbers from.  If they are forecasting that result, they have either made a fabulous breakthrough in design or are in for a world of bad surprises when their silicon arrives.

I think those numbers originated with MetaBank.ru, plus there's also the bet made on BitBet stating that the power consumption would be under 1 W. It looks that like they hit their target.

[Ashitank]

Ken what is expected or estimated Mhash/s per AMC share ?

[dhenson]

Ken what is expected or estimated Mhash/s per AMC share ?

The MH/s will increase as new mining equipment comes online.  There is no way to accurately answer your question.

[Minor Miner]

Avalon Shopping Cart Screenshot:
https://bitfunder.com/asset/AMC profile->images

http://www.axs.net/AMC/AMC-Profit-Estimate.png
Now correct me if I'm wrong, but you entered 992 TERA-hash into that mining calculator...not gigahash.
It also states that you're expecting 1600 BTC/day, but only ~3600 is currently generated each day. You expect to control ~45% of the total mining network?
You don't even have a single functioning ASIC yet.

This is our 24 month projection with a 40X times increase in the difficulty.  We have gone from 384,000 MH/s on order to 5.651 TH/s on order in just one month.
Since we are putting back 50% of the revenue back into purchasing more mining power we will cause an exponential growth of hashing power over the next 24 months.
Of course the 992 TERA is just a projection.  Also, should we get to 45% of the network hashing power, we would not add anymore hashing power until
our control of the network falls back to 40%.

LMAO.
As an exercise for the reader who doesn't recognize what a complete fraud this is.  Consider this.
45% of 992 TH = 446 TH
Avalon power requirement.  10 W / GH.
Power needed for 446 TH  = 4.5 MW
Are you building a power plant along with your imaginary silicon?

One point you are missing, is we did not say that we are going to use Avalon chips for all of the 992 TH/s, so your calculation are a fraud.  If fact I have
told you over and over that we are working on a 45nm and a 28nm chip.  Those chips will use 10X less power that Avalon's.

Slaughter;
you are full of it.   What do you mean "your calculation are a fraud"?  Ignore the grammar problems with that sentence compared to your prospectus.   Calculations are NOT fraudulent.   they are correct or wrong.   Given his calculation uses KNOWN FACTS, it is correct.    And yes, you have suggested you are going to hash this much power, start reading your OWN posts.    So, what kind of cogen are you building because we all know you are MINIMUM two years from 28 and over a year from 45nm (and that is assuming you have any clue what you are doing which your posts do not lend evidence to).
If you are claiming you will have a 28nm in this year, you are a liar.   So, why don't you cut all your BS and tell people how far along you actually are on "your own chip development".   Because anyone who was ANYWHERE on developing a chip, would not be so stupid to buy $140,000 worth of avalon chips.   That would be idiotic and a waste of shareholder funds.   Like a man that said he was a few months away from getting the goose that lays the golden egg, but was going to spend all his available funds on buying regular chickens.    I call BS.   This is another BFL.   Either Fraud or complete incompetence.   Funny how they both (josh at BFL and "kslaughter") are from MO and they both ran ISPs???   

[Mabsark]

Nonsense.  You will not reduce power 10x by moving to 28 nm.  You are just demonstrating that you have no idea what you are talking about.  BFL imagined the same thing.  You are just a wannabe Josh.

BitFury's ASIC is supposedly at 0.7 W per Gh/s at 65nm. What's Avalon at?

Avalon is ~10W / GH/s.
BFL is 6 W / GH/s at 65 nm.

I don't know where you are getting your Bitfury numbers from.  If they are forecasting that result, they have either made a fabulous breakthrough in design or are in for a world of bad surprises when their silicon arrives.

I think those numbers originated with MetaBank.ru, plus there's also the bet made on BitBet stating that the power consumption would be under 1 W. It looks that like they hit their target.

That would be an impressive result.  But given that they are talking about August delivery, I have to think it's based on simulation.  Josh thought the same based on simulations and bet 1000 BTC on it.

August delivery is for the 120 Gh/s devices that Metabank are selling, not the chips.From 100TH's reports, https://picostocks.com/docs/index/19

Wafer production completed

Wafers are finished and are on their way to the packaging facility. Few chips will be probably ready in 1 week. The rest will be ready in 3-4 weeks.
We have ordered components for the provisional board production. The provisional design will be finalized next week. The boards will be tested with the first few chips and modified according to the observed chip parameters. We hope to have all components for the remaining boards ready for assembly before the main batch of packaged chips arrives.

Created on 2013-05-24 11:13:00 by Leszek Rychlewski; Published on 2013-05-24 11:21:59 by koji;

Wafer production and chip packaging

First wafers will be completed on 2013-05-25 (few days delay). We have succeeded to request expedited packaging of first chips from the first wafers. We expect receiving packaged chips after 2013-05-30. These will be used to verify the function of the chips and test provisional board design. We believe board assembly with all 100th mine chips before 2013-07-01 is feasible.
 
Created on 2013-05-22 16:30:00 by Leszek Rychlewski; Published on 2013-05-22 16:35:16 by koji;

[Mabsark]

Avalon Shopping Cart Screenshot:
https://bitfunder.com/asset/AMC profile->images

http://www.axs.net/AMC/AMC-Profit-Estimate.png
Now correct me if I'm wrong, but you entered 992 TERA-hash into that mining calculator...not gigahash.
It also states that you're expecting 1600 BTC/day, but only ~3600 is currently generated each day. You expect to control ~45% of the total mining network?
You don't even have a single functioning ASIC yet.

This is our 24 month projection with a 40X times increase in the difficulty.  We have gone from 384,000 MH/s on order to 5.651 TH/s on order in just one month.
Since we are putting back 50% of the revenue back into purchasing more mining power we will cause an exponential growth of hashing power over the next 24 months.
Of course the 992 TERA is just a projection.  Also, should we get to 45% of the network hashing power, we would not add anymore hashing power until
our control of the network falls back to 40%.

LMAO.
As an exercise for the reader who doesn't recognize what a complete fraud this is.  Consider this.
45% of 992 TH = 446 TH
Avalon power requirement.  10 W / GH.
Power needed for 446 TH  = 4.5 MW
Are you building a power plant along with your imaginary silicon?

One point you are missing, is we did not say that we are going to use Avalon chips for all of the 992 TH/s, so your calculation are a fraud.  If fact I have
told you over and over that we are working on a 45nm and a 28nm chip.  Those chips will use 10X less power that Avalon's.

Slaughter;
you are full of it.   What do you mean "your calculation are a fraud"?  Ignore the grammar problems with that sentence compared to your prospectus.   Calculations are NOT fraudulent.   they are correct or wrong.   Given his calculation uses KNOWN FACTS, it is correct.    And yes, you have suggested you are going to hash this much power, start reading your OWN posts.    So, what kind of cogen are you building because we all know you are MINIMUM two years from 28 and over a year from 45nm (and that is assuming you have any clue what you are doing which your posts do not lend evidence to).
If you are claiming you will have a 28nm in this year, you are a liar.   So, why don't you cut all your BS and tell people how far along you actually are on "your own chip development".   Because anyone who was ANYWHERE on developing a chip, would not be so stupid to buy $140,000 worth of avalon chips.   That would be idiotic and a waste of shareholder funds.   Like a man that said he was a few months away from getting the goose that lays the golden egg, but was going to spend all his available funds on buying regular chickens.    I call BS.   This is another BFL.   Either Fraud or complete incompetence.   Funny how they both (josh at BFL and "kslaughter") are from MO and they both ran ISPs???    

Form the profile on BitFunder:

Based on Avalon ASICs (110nm):

100 Fast-Hash-80's** @ 80 GH/s each for a total of: 8 TH/s
Specifications: 110nm 282 MH/s chip 75 chips per board 4 boards per unit
Estimated retail value @ ~$6,000 each for a total of $600,000
(Estimated to be delivered August 2013)

100 Fast-Hash-80's** @ 80 GH/s each for a total of: 8 TH/s
Specifications: 110nm 282 MH/s chip 75 chips per board 4 boards per unit
Estimated retail value @ ~$6,000 each for a total of $600,000
(Estimated to be delivered October 2013)

100 Fast-Hash-80's** @ 80 GH/s each for a total of: 8 TH/s
Specifications: 110nm 282 MH/s chip 75 chips per board 4 boards per unit
Estimated retail value @ ~$6,000 each for a total of $600,000
(Estimated to be delivered December 2013)

100 Fast-Hash-80's** @ 80 GH/s each for a total of: 8 TH/s
Specifications: 110nm 282 MH/s chip 75 chips per board 4 boards per unit
Estimated retail value @ ~$6,000 each for a total of $600,000
(Estimated to be delivered February 2014)

For 45nm:

100 Fast-Hash-400's** @ 400 GH/s each for a total of: 40 TH/s
Specifications: 45nm 6 GH/s chip 75 chips per board 1 board per unit
Estimated retail value @ ~$30,000 each for a total of $3,000,000
(Estimated to be delivered March 2014)

100 Fast-Hash-800's** @ 800 GH/s each for a total of: 80 TH/s
Specifications: 45nm 6 GH/s chip 75 chips per board 2 boards per unit
Estimated retail value @ ~$60,000 each for a total of $6,000,000
(Estimated to be delivered May 2014)

For 28nm:

100 Fast-Hash-1.2T's** @ 1.2 TH/s each for a total of: 120 TH/s
Specifications: 28nm 9 GH/s chip 75 chips per board 1 board per unit
Estimated retail value @ ~$100,000 each for a total of $10,000,000
(Estimated to be delivered July 2014)

100 Fast-Hash-2.4T's** @ 2.4 TH/s each for a total of: 240 TH/s
Specifications: 28nm 9 GH/s chip 75 chips per board 2 board per unit
Estimated retail value @ ~$200,000 each for a total of $20,000,000
(Estimated to be delivered September 2014)

100 Fast-Hash-4.8T's** @ 4.8 TH/s each for a total of: 480 TH/s
Specifications: 28nm 9 GH/s chip 75 chips per board 4 board per unit
Estimated retail value @ ~$400,000 each for a total of $40,000,000
(Estimated to be delivered December 2014)

As you can see, the 45nm ASIC devices are not due till March 2014 and the devices till then rely on those Avalon chips. I suggest you try reading before making such idiotic comments in the future.

[Mabsark]

Ken, you should get in contact with the BitFury ASIC developers and see if you can buy any of their 65nm chips.

[stereotype]

Avalon Shopping Cart Screenshot:
https://bitfunder.com/asset/AMC profile->images

http://www.axs.net/AMC/AMC-Profit-Estimate.png
Now correct me if I'm wrong, but you entered 992 TERA-hash into that mining calculator...not gigahash.
It also states that you're expecting 1600 BTC/day, but only ~3600 is currently generated each day. You expect to control ~45% of the total mining network?
You don't even have a single functioning ASIC yet.

This is our 24 month projection with a 40X times increase in the difficulty.  We have gone from 384,000 MH/s on order to 5.651 TH/s on order in just one month.
Since we are putting back 50% of the revenue back into purchasing more mining power we will cause an exponential growth of hashing power over the next 24 months.
Of course the 992 TERA is just a projection.  Also, should we get to 45% of the network hashing power, we would not add anymore hashing power until
our control of the network falls back to 40%.

LMAO.
As an exercise for the reader who doesn't recognize what a complete fraud this is.  Consider this.
45% of 992 TH = 446 TH
Avalon power requirement.  10 W / GH.
Power needed for 446 TH  = 4.5 MW
Are you building a power plant along with your imaginary silicon?

One point you are missing, is we did not say that we are going to use Avalon chips for all of the 992 TH/s, so your calculation are a fraud.  If fact I have
told you over and over that we are working on a 45nm and a 28nm chip.  Those chips will use 10X less power that Avalon's.

Slaughter;
you are full of it.   What do you mean "your calculation are a fraud"?  Ignore the grammar problems with that sentence compared to your prospectus.   Calculations are NOT fraudulent.   they are correct or wrong.   Given his calculation uses KNOWN FACTS, it is correct.    And yes, you have suggested you are going to hash this much power, start reading your OWN posts.    So, what kind of cogen are you building because we all know you are MINIMUM two years from 28 and over a year from 45nm (and that is assuming you have any clue what you are doing which your posts do not lend evidence to).
If you are claiming you will have a 28nm in this year, you are a liar.   So, why don't you cut all your BS and tell people how far along you actually are on "your own chip development".   Because anyone who was ANYWHERE on developing a chip, would not be so stupid to buy $140,000 worth of avalon chips.   That would be idiotic and a waste of shareholder funds.   Like a man that said he was a few months away from getting the goose that lays the golden egg, but was going to spend all his available funds on buying regular chickens.    I call BS.   This is another BFL.   Either Fraud or complete incompetence.   Funny how they both (josh at BFL and "kslaughter") are from MO and they both ran ISPs???   

Minor. You seem so sure about your accusations. So i can take you seriously, what companies have you started and/or running currently? Thanks.

[kslaughter]

Ken, you should get in contact with the BitFury ASIC developers and see if you can buy any of their 65nm chips.

Thanks for the suggestion.

[Vbs]

So, I did some new estimations taking into consideration the latest available info. I am only considering income from Avalon chips atm (baseline performance expectation). Please examine all numbers carefully.

Please take everything with a grain of salt (!), as these are only previsions based on speculative data. I welcome any contributions for accuracy!

Comments:

• Upfront Avalon 10k chips cost of BTC1000 for each 10k chip order + board assembly, conservative scenario of 3 month delivery from order to mining start
• Network hashrate includes AMC hashrate and 103TH in august, and assumes a 15% increase per month (geometric progression, r=1.15), with an estimated 660TH/s by december.
• Operating expenses estimated at 10%.
• Share valuation reflects the % of accumulated profit/share divided by the bought share price. A 100% figure means the share price is fully paid by earned dividends.
• Used my estimations on sold share price as described below (average of 0.0005 for the 1st 5M and 0.0008 for the rest 15M); will correct when precise figures are released
• In may/14 the issuer starts receiving dividends on 40M general purpose shares, which are free to use for any growth/expansion/investment/salary purposes; in any case, the displayed share valuation takes into account as if no benefits are coming from these shares (so you can see what you'll receive in the worst case scenario)

https://docs.google.com/spreadsheet/ccc?key=0Ap8MGY67MGwNdE5rRGUtd1hzTE1CVUR3WnZsME02QXc


(Edit: Added Effective MH/s per share and MH/s per BTC at 0.0005 and 0.0008/share.)

[ChronoX5]

Now that our First Batch of Early Adopter shares has sold out we are waiting for the Avalon machines to come in and start producing revenue.  We will then start paying dividends to our Investors after the first week of mining with the Avalon's.  Due to the fact that shares were selling with good demand at the .0008 price level, before Ukto of Bitfunder.Com forced us to reduce the price to a bargain level, we will only be releasing shares in batch 2 at no less than .0008 BTC.

Also, we are implementing our Investors Protection Program (IPP) for those Investors who purchased shares higher than .0005 after May 28, 2013 04:59 CDT and on or before May 31, 2013 14:59 CDT.  IPP will reimburse our Long Term Investors the difference between the price they purchased their shares at, and the price of our shares on August 31, 2013 at 00:01 CDT or .0005 whichever is higher, only if the share price is below .0008 BTC on August 31, 2013 at 00:01 CDT.  The Investor must still own the shares to be reimbursed.  This program is being implemented due to Bitfunder.Com forcing us to price our shares at .0005, without due cause.  Of course we will strive in the coming months to raise the share price and add shareholder value to the shares our Investors hold.  

Update:

The group after May 28, 2013 04:59 CDT and before May 31, 15:59 CDT are add to the above group.

Thank  you for the update. I appreciate the pricing transparency.

[hf]

Shareholders update

[EDIT]
Yep, sorry lewicki, made a script out of your idea. Will post every other day or so.

[lewicki]

Shareholders update

 

[funkymunky]

Shareholders update

Thank you

[Minor Miner]

As you can see, the 45nm ASIC devices are not due till March 2014 and the devices till then rely on those Avalon chips. I suggest you try reading before making such idiotic comments in the future.

Re-Read what I wrote MORON.  Do not presume me to be the idiot, there is a saying in vegas about people who think they are the smartest one at the table....   He JUST SIGNED AN NDA moron.  Read.   Or why don't you call a company and ask how long from NDA to receiving a 45nm chip is a reasonable expectation.   I am awaiting your call.

[Minor Miner]

Minor. You seem so sure about your accusations. So i can take you seriously, what companies have you started and/or running currently? Thanks.

I am quite confident about my statements.  They are made from experience dealing with the process in question.  I have made no accusations other than saying that some statements are either misinformation or outright BS.   I have also pointed out the classic way that pump and dumps used to be performed (and still are) on pink sheet penny stocks and shown the similarities to what is happening with this stock.
As to what companies I have started and built, I will announce that when we have a fully functional product that people can buy that same day they pay for it.   Just like the other companies I own outside of bitcoin.  The more companies that start doing bitcoin businesses in a professional and honest way, the harder it will be for pre-order scams and other mickey mouse type businesses to operate and that will be better for BTC in the long run.