[AMC]-The Official Active Mining Cooperative Discussion

[Vbs]

I'm sure AMC will be buying the best available hardware at different times.

I've made my projections based only on buying + assembling Avalon chips, which is the baseline performance expectation. Anyone can use that to decide whether to invest or not.

I don't really care about any 65, 45, 32, 22 or 20nm chips at the moment. I've made my decision based on the possibility that there will be nothing better than those Avalons.

If it turns out we'll get anything better, I'll be !!!

[luke.watson]

I'm sure AMC will be buying the best available hardware at different times.

I've made my projections based only on buying + assembling Avalon chips, which is the baseline performance expectation. Anyone can use that to decide whether to invest or not.

I don't really care about any 65, 45, 32, 22 or 20nm chips at the moment. I've made my decision based on the possibility that there will be nothing better than those Avalons.

If it turns out we'll get anything better, I'll be !!!

Would you mind uploading your spreadsheet to a public google drive file?

[Mabsark]

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.

I will presume you to be an idiot. You quite clearly said,

If you are claiming you will have a 28nm in this year, you are a liar.

If you're going to criticise the project, then you should have at least read the details.

[kslaughter]

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.

I agree that starting and doing a bitcoin business in a professional and honest way is the way to go.  That is why VMC is incorporated in Delaware, why we have a toll free number to contact us, a professional web page with all of our products listed, and why we will be providing a complete accounting of May's activity to Investors by June 15th.  However since you have admitted to being some kind of competitor to VMC and or AMC, Investors on this thread can take your attacks with a grain of salt.  

[stereotype]

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.

I agree that starting and doing a bitcoin business in a professional and honest way is the way to go.  That is why VMC is incorporated in Delaware, why we have a toll free number to contact us, a professional web page with all of our products listed, and why we will be providing a complete accounting of May's activity to Investors by June 15th.  However since you have admitted to being some kind of competitor to VMC and or AMC, Investors on this thread can take your attacks with a grain of salt.  

+1

[Minor Miner]

If you're going to criticise the project, then you should have at least read the details.

I am done with this forum, it is probably better if everyone gets ripped off again.
But, why don't you Mabsark learn how to read.   Read around post 110 back a bit, Slaughter SAID THE WAFERS WERE ALMOST DONE.   So, he went from "just signing an NDA", to a full mask set and right into almost getting the first batch of wafer starts in ONE WEEK?   Then, he ordered chips from Avalon (really crappy chips compared to the 45nm chips that he was getting soon.
Hope you lose lots of coin my friend.

[stereotype]

If you're going to criticise the project, then you should have at least read the details.

I am done with this forum, it is probably better if everyone gets ripped off again.
But, why don't you Mabsark learn how to read.   Read around post 110 back a bit, Slaughter SAID THE WAFERS WERE ALMOST DONE.   So, he went from "just signing an NDA", to a full mask set and right into almost getting the first batch of wafer starts in ONE WEEK?   Then, he ordered chips from Avalon (really crappy chips compared to the 45nm chips that he was getting soon.
Hope you lose lots of coin my friend.

Bye Minor. Hope you find a more appropriate outlet for that anger, soon.

[Mabsark]

If you're going to criticise the project, then you should have at least read the details.

I am done with this forum, it is probably better if everyone gets ripped off again.
But, why don't you Mabsark learn how to read.   Read around post 110 back a bit, Slaughter SAID THE WAFERS WERE ALMOST DONE.   So, he went from "just signing an NDA", to a full mask set and right into almost getting the first batch of wafer starts in ONE WEEK?   Then, he ordered chips from Avalon (really crappy chips compared to the 45nm chips that he was getting soon.
Hope you lose lots of coin my friend.

I've just looked back at post 110 and it makes no mention of wafers. I also looked back 110 comments from this one, and the only comment I can find which sounds as if has anything to do with what you just wrote is comment 546:

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.

Where exactly does he say the wafers are almost done? Where exactly does it mention anything you were just rambling on about? You're just trying to spread FUD and everyone can see how full of crap you are. You're a big-headed know-it-all and like all such people, you'll run away and hide before admitting you were wrong.

[Minor Miner]

Where exactly does he say the wafers are almost done? Where exactly does it mention anything you were just rambling on about? You're just trying to spread FUD and everyone can see how full of crap you are. You're a big-headed know-it-all and like all such people, you'll run away and hide before admitting you were wrong.

So what are you raising funds for then?   No, semi company in their right mind would be wasting their time helping you design a chip to do this unless you have a team of experienced people that understand the system.   The current development lead time on 45 is well over 6 months even if you had a design so you will not even have a product for 12 months.  28???   How are the wafer starts looking in 28?   lots of space for you?
You just got to the point of signing the NDA?   So, all this money is to develop a chip now?  You have no chance of getting a wafer start.   Probably best to just sticking to pumping and dumping a stock that is trading on what value???
Wow, people really have a lot of faith don't they?

We know what we are doing.  The wafers are already almost done.

When did you start the chip design?  I thought you just signed an NDA here last week with a fab?  You mean you already taped out the mask?   Or are you on a shuttle?
What did the fab tell you would need to show prove of funds for before they would even turn you to legal for vetting?  Just prove to me that you do know what you are doing because your statement above seems strange.

The design was started last year, it is proven to work.  I will need the funds soon for the NRE.

I accept your apology Mabsark.  I also apologize to you for expecting you to go and read it for yourself but since you constantly were critiquing reading ability, I figured your own was beyond reproach.

[LorenzoMoney]

kslaughter,

Did you follow all the rules that a company must follow before going public? Have your books been audited by independent accountants? You are running a US based company, so I suspect this entire venture must follow SEC guidelines.

http://www.xconomy.com/boston/2010/02/11/ready-set-go-public-the-10-things-you-need-to-do-now/

I'm amazed that a company can value itself at a couple million dollars, and raise a couple hundred thousand dollars without independent auditors being involved to ensure that investors are not getting ripped off.

I'm just trying to imagine what would happen if you went on Shark Tank and said your company was valued at couple million dollars when it hasn't brought in any revenue. I think you would be laughed out of the room...

Why do I get the feeling that there will be an episode of "American Greed" on this entire venture in the near future?

Kendog,

Please don't be naive! This is the Bitcoin world. It is unregulated. For some people, that lack of regulation is a sign of danger, of money laundering and illegal activity. For others, it is a sign of freedom and a lack of oppressive government control.  For me, it is a sign of the Wild West, and of risks that are inherent in a new market and new technology.  I have invested with people and made loans using bitcoin where I did not know the real name of the person to whom I made the loan. Someone in Australia sent me 40 bitcoin (when bitcoin was USD $150 each) to buy some stocks for him because he didn't have access to his bitfunder account. He gave me .45 BTC for helping him. My point is, he trusted me, and I was a stranger to him. He took a risk. All of bitcoin is a big risk, and it is a risk because it is unregulated and at the moment, that lack of regulation is part of the excitement, so Kendog, if this was not the Bitcoin-verse, I would agree with you, but the rules of business are different here. In the name of disclosure, I own a good deal of AMC stock. Because of that, I am very interested in AMC's success. I knew when I bought that stock that there was a very big risk involved. If AMC doesn't succeed, or the stock price tanks, I know I will lose money. I still will be able to make my mortgage and buy food for my dogs, but I will lose money. On the other hand, if AMC succeeds, gets those chips delivered and AMC succeeds in doing what they way they are going to do, I am many other people will make lots of money.  If that happens, I will pay my taxes, capital gains, to the IRS.  But, Kendog, given the nature of the Bitcoin-verse and bitcoin businesses, it is unreasonable to expect anyone to follow all the non-bitcoin world's rules. My point being, your criticisms are not valid in the Bitcoin world. BUT! AMC DOES need to be more transparent if they want to build investor and potential-investor confidence.

[Mabsark]

Where exactly does he say the wafers are almost done? Where exactly does it mention anything you were just rambling on about? You're just trying to spread FUD and everyone can see how full of crap you are. You're a big-headed know-it-all and like all such people, you'll run away and hide before admitting you were wrong.

So what are you raising funds for then?   No, semi company in their right mind would be wasting their time helping you design a chip to do this unless you have a team of experienced people that understand the system.   The current development lead time on 45 is well over 6 months even if you had a design so you will not even have a product for 12 months.  28???   How are the wafer starts looking in 28?   lots of space for you?
You just got to the point of signing the NDA?   So, all this money is to develop a chip now?  You have no chance of getting a wafer start.   Probably best to just sticking to pumping and dumping a stock that is trading on what value???
Wow, people really have a lot of faith don't they?

We know what we are doing.  The wafers are already almost done.

When did you start the chip design?  I thought you just signed an NDA here last week with a fab?  You mean you already taped out the mask?   Or are you on a shuttle?
What did the fab tell you would need to show prove of funds for before they would even turn you to legal for vetting?  Just prove to me that you do know what you are doing because your statement above seems strange.

The design was started last year, it is proven to work.  I will need the funds soon for the NRE.

I accept your apology Mabsark.  I also apologize to you for expecting you to go and read it for yourself but since you constantly were critiquing reading ability, I figured your own was beyond reproach.

I didn't offer you an apology but I will admit that I was wrong. Ken did say that the wafers are almost done and that the design was started last year, just not where you said he made such comments. That does not mean Ken is lying though. Look at 100TH's reports on picostocks. They were still designing the chip on 2013-03-01, chip production started on 2013-03-28 and wafers were finished by 2013-05-24. So, in just under 3 months, they went from chip design to finished wafers, something you're insisting takes years to do. It the BitFury devs can do it, why can't AMC?

[Minor Miner]

I didn't offer you an apology but I will admit that I was wrong. Ken did say that the wafers are almost done and that the design was started last year, just not where you said he made such comments. That does not mean Ken is lying though. Look at 100TH's reports on picostocks. They were still designing the chip on 2013-03-01, chip production started on 2013-03-28 and wafers were finished by 2013-05-24. So, in just under 3 months, they went from chip design to finished wafers, something you're insisting takes years to do. It the BitFury devs can do it, why can't AMC?

Until you apologize, I will not tell you (lol).  Seriously, it is worth it for you to do some research on the capacity and design constraints on what Ken is claiming lead time is (45nm and 28nm) and 65nm.   There is a HUGE difference in cost and timing and just plain capacity.   
But, I am done polluting this thread and want to leave it open for the pumpers, the dumpers and the dreamers.   Take care.

[Vbs]

Would you mind uploading your spreadsheet to a public google drive file?

Sure. There you go!

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

[luke.watson]

Would you mind uploading your spreadsheet to a public google drive file?

Sure. There you go!

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

Brilliant, thanks

[Thalum]

A few quick questions, cause I can't seem to find the answers in the thread (apologies if I've missed the obvious posts):

1) Is the IPO stage over?
2) How do I buy AMC shares? Is bitfunder the only option?
3) What's the current price per share?
4) Do you have a projected dividend per share?

[hf]

1) Kind of.
2) Yep, bitfunder.
3) Last price : ฿0.00068550
4) Nothing official. Though you could take a look at these guesstimate :

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

[kslaughter]

A few quick questions, cause I can't seem to find the answers in the thread (apologies if I've missed the obvious posts):

1) Is the IPO stage over?
2) How do I buy AMC shares? Is bitfunder the only option?
3) What's the current price per share?
4) Do you have a projected dividend per share?

Only the First Batch, there may be up to 3 more batches if capital is needed.  The next batch will be released at no less than .0008/share.

Bitfunder is where they are traded.

Check Bitfunder.com asset AMC

No, but the first 6 Avalon's have a hash rate of 384,000 MH/s and use power of 3600 watts.  You can use this link to calculate the current income:

http://www.bitcoinx.com/profit/

Just fill in the hash rate and power from above.  Multiply the daily rate by 7, then divide the income by 40,000,000 and multiply it by the number of
shares you own.  This will be an estimate of your dividends if the machines were here today.

[Thalum]

Thanks for the quick replies, much appreciated. As for the next IPOs, any mention of when these might be? And last three (!), how many shares have been issued, how many have been sold, and where can I find more about this offering?

[lewicki]

Thanks for the quick replies, much appreciated. As for the next IPOs, any mention of when these might be? And last three (!), how many shares have been issued, how many have been sold, and where can I find more about this offering?

Shareholders update

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

All 5 million of the  early adopter shares issued have been sold. Once the avalons arrive, within 0-2 weeks, the price will bump to at least .0008 where the next batch will be sold at. I can only assume that if the price goes above .0008, the second batch will be sold above that.

Read the tabs on this page: https://bitfunder.com/asset/AMC#pane_profile

[sayaz]

Any news regarding reimbursement for long term shareholders who purchased shares above 0.0005 before the 28th?