[AMC]-The Official Active Mining Cooperative Discussion

[Vbs]

Yes, that is exactly what I was thinking, so I have changed it back to 1 BTC.  Also, what is nice is the amount in the bitcoin address will always be within ~1 BTC of the total for the week, giving investor a transparent look into how much we are mining.

[bigdude]

Ken,

A lot of AMC shareholders probably have Butterfly Labs machines on order and have chip credits.  I have some  BFL chip credits. If you think you are able to take the BFL chips and build complete miners from them, may I suggest asking AMC stockholders if they have BFL credits to offer up to AMC/VMC in trade for AMC shares.

I would love to keep my credits "in the family".

Lorenzo Money

Definitely, I was about to post my up for sale.

I'd happily "swap" them for AMC shares.

Fantastic Idea 

Any chance of this happening Ken?

I have 96 chips, and looking to make good use out of them.

Over on BFL forums, 2 guys are doing group buys and making boards for the chips, so I am considering using them there:
https://forums.butterflylabs.com/hardware-discussion/3305-%5Bgroup-buy%5D-chip-group-buy-board-design-2.html

But, if you give the go ahead to this idea - ie. swap credits for shares, that would be even better - good way for us to support AMC further.

[btct22]

Hi, is there some testing/changes happening at the moment?


19   Team AMC   96.19 GH/s

[Vbs]

I've been doing the math on BFL vs Avalon, and the conclusion I'm always arriving to is that buying from BFL is the better choice right now, as:

• we get ~2.15x the amount of hashrate (@$50/100 chips) for the equivalent Avalon price;
• the chance for the network difficulty to double (~2.15x) within the extra month of waiting from delivery is very slim;
• we only need to pay 50% upfront, so we can do a much larger order and get the remaining 50% funds from our hardware that goes online until that time.

[kslaughter]

I've been doing the math on BFL vs Avalon, and the conclusion I'm always arriving to is that buying from BFL is the better choice right now, as:

• we get ~2.15x the amount of hashrate (@$50/100 chips) for the equivalent Avalon price;
• the chance for the network difficulty to double (~2.15x) within the extra month of waiting from delivery is very slim;
• we only need to pay 50% upfront, so we can do a much larger order and get the remaining 50% funds from our hardware that goes online until that time.

@VBS, thanks for doing the math, your expertise is most welcome.

[kslaughter]

Hi, is there some testing/changes happening at the moment?


19   Team AMC   96.19 GH/s

No testing, maybe a network problem. (  Right now, We have 2 internet connections and will be adding a third.  We will also be setting up some proxies to switch between these connections.

[stereotype]

I've been doing the math on BFL vs Avalon, and the conclusion I'm always arriving to is that buying from BFL is the better choice right now, as:

• we get ~2.15x the amount of hashrate (@$50/100 chips) for the equivalent Avalon price;
• the chance for the network difficulty to double (~2.15x) within the extra month of waiting from delivery is very slim;
• we only need to pay 50% upfront, so we can do a much larger order and get the remaining 50% funds from our hardware that goes online until that time.

@VBS, thanks for doing the math, your expertise is most welcome.

+1

Likewise.

[Vbs]

Thanks.

Also, since 2.8TH = 10k Avalon chips or ~732 BFL chips, the board manufacturing cost is bound to be cheaper on BFL (lesser boards needed).

[Vbs]

From the current prices on BFL chip coupons ($1 to $2 per chip), I would suggest trading those for something between ($1/100/0.0008 =) 12 to ($2/100/0.0008 =) 25 AMC shares per chip? Thoughts?

[stereotype]

From the current prices on BFL chip coupons ($1 to $2 per chip), I would suggest trading those for something between ($1/100/0.0008 =) 12 to ($2/100/0.0008 =) 25 AMC shares per chip? Thoughts?

Looks good to me. Shall we say 20share/chip?

Think this is a good opportunity to raise wider awareness of AMC, and for people who ordinarily would not own shares, to do so.   

[funkymunky]

I'd definitely be happy with that swap.

I'd rather my chips went to AMC than to a 3rd party.


@VBS
Thank you for your input on this thread buddy, you've helped a lot 

[luke.watson]

From the current prices on BFL chip coupons ($1 to $2 per chip), I would suggest trading those for something between ($1/100/0.0008 =) 12 to ($2/100/0.0008 =) 25 AMC shares per chip? Thoughts?

Looks good to me. Shall we say 20share/chip?

Think this is a good opportunity to raise wider awareness of AMC, and for people who ordinarily would not own shares, to do so.   

20 shares per chip in hand would be fair - otherwise if they're credits or arriving soon then it would probably have to be a bit lower, like 10/13

[ThickAsThieves]

From the current prices on BFL chip coupons ($1 to $2 per chip), I would suggest trading those for something between ($1/100/0.0008 =) 12 to ($2/100/0.0008 =) 25 AMC shares per chip? Thoughts?

Looks good to me. Shall we say 20share/chip?

Think this is a good opportunity to raise wider awareness of AMC, and for people who ordinarily would not own shares, to do so.   

20 shares per chip in hand would be fair - otherwise if they're credits or arriving soon then it would probably have to be a bit lower, like 10/13

The proper way to do this would be for AMC to buy the credits from you guys. Trading shares is not within the contract terms.

[hak8or]

Do investors have to opt in, or is it automatic, when will this program be implemented, is this being done by bitfunder or AMC?

Kslaughter, can you answer the questions which were asked a few posts earlier, or at least provide a link to where we can find the information?

This is being done by AMC, for our Investors.  No action on the part of our Investors is required at this time.

It has been nearly two weeks and I have yet to see or hear anything about the shares issue being resolved. Do you at least have a approximation for when this will occur? (tomorrow, next few days, next week, next month, next year?)

[kslaughter]

From the current prices on BFL chip coupons ($1 to $2 per chip), I would suggest trading those for something between ($1/100/0.0008 =) 12 to ($2/100/0.0008 =) 25 AMC shares per chip? Thoughts?

Looks good to me. Shall we say 20share/chip?

Think this is a good opportunity to raise wider awareness of AMC, and for people who ordinarily would not own shares, to do so.   

20 shares per chip in hand would be fair - otherwise if they're credits or arriving soon then it would probably have to be a bit lower, like 10/13

The proper way to do this would be for AMC to buy the credits from you guys. Trading shares is not within the contract terms.

I am glad you had a chance to read the description for me.  I have been busy getting our own chip going.

[Vbs]

Do investors have to opt in, or is it automatic, when will this program be implemented, is this being done by bitfunder or AMC?

Kslaughter, can you answer the questions which were asked a few posts earlier, or at least provide a link to where we can find the information?

This is being done by AMC, for our Investors.  No action on the part of our Investors is required at this time.

It has been nearly two weeks and I have yet to see or hear anything about the shares issue being resolved. Do you at least have a approximation for when this will occur? (tomorrow, next few days, next week, next month, next year?)

Bolded relevant bits.

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.

[luke.watson]

From the current prices on BFL chip coupons ($1 to $2 per chip), I would suggest trading those for something between ($1/100/0.0008 =) 12 to ($2/100/0.0008 =) 25 AMC shares per chip? Thoughts?

Looks good to me. Shall we say 20share/chip?

Think this is a good opportunity to raise wider awareness of AMC, and for people who ordinarily would not own shares, to do so.   

20 shares per chip in hand would be fair - otherwise if they're credits or arriving soon then it would probably have to be a bit lower, like 10/13

The proper way to do this would be for AMC to buy the credits from you guys. Trading shares is not within the contract terms.

Where does it say Ken cant trade them?

I didnt read the full description but I found this from the summary

"As long as AMC does not sell it's shares below 0.0005 then they may do as they please with their shares. It is their company, their ownership, and their shares."

Surely that includes trading?

Or is it part of BitFunder agreements preventing trading?

[kslaughter]

From the current prices on BFL chip coupons ($1 to $2 per chip), I would suggest trading those for something between ($1/100/0.0008 =) 12 to ($2/100/0.0008 =) 25 AMC shares per chip? Thoughts?

Looks good to me. Shall we say 20share/chip?

Think this is a good opportunity to raise wider awareness of AMC, and for people who ordinarily would not own shares, to do so.   

20 shares per chip in hand would be fair - otherwise if they're credits or arriving soon then it would probably have to be a bit lower, like 10/13

The proper way to do this would be for AMC to buy the credits from you guys. Trading shares is not within the contract terms.

Where does it say Ken cant trade them?

I didnt read the full description but I found this from the summary

"As long as AMC does not sell it's shares below 0.0005 then they may do as they please with their shares. It is their company, their ownership, and their shares."

Surely that includes trading?

Or is it part of BitFunder agreements preventing trading?

Not BitFunder, just the AMC description which I would go by the letter on.  I have not had time to read it for this application.  We are waiting on some results for
our own chip before we would make a decision on BFL chips.

[btct22]

Hi Ken,

Is there any update on the delivery of the 2nd 3 Avalon units?

Thanks

[kslaughter]

Hi Ken,

Is there any update on the delivery of the 2nd 3 Avalon units?

Thanks

Not yet, I will post here as soon as I hear something from Avalon.