[AMC]-The Official Active Mining Cooperative Discussion

[lewicki]

Why not wait until the price has spiked and then sell some more shares?

The price went from .0008 to .004 (briefly) in a week.  I think he did wait for the spike.  That's an INSANE return for initial investors so far.

I noticed that the mistake of adding that extra 0 keeps happening on bitfunder. Some lucky guy was able to buy at 0.0004.

Someone executed an option. Read this:

Why does 24 hour low on BitFunder always show a lower price than what has actually been hit? Has this been discussed on here yet? For example: today the low was .00055 but that wasn't hit. Are these private trades?

Exercised options, Ukyo already said that those will be hidden from the overview as well in the future.

I have told Ukto about this bug, so he is aware of the problem.

Moved this section to a new post.

[hl5460]

The 2 million share selling on BF is from Ken?

[lewicki]

The 2 million share selling on BF is from Ken?

Yes.

SPRINGFIELD, MO, – June 26, 2013 – Active Mining Corporation (AMC) is announcing today the release of 2,000,000 shares at a price of 0.0025, in preparation for tomorrow's announcement concerning recent developments in their Research and Development program. The decision to release 2,000,000 today was made to resume the gathering of necessary funds for NRE costs, as soon as possible.  Active Mining Corporation is a Belize International Business Company DBA Active Mining Cooperative (AMC).

[lewicki]

So if these 2 million new shares are listed on Bitfunder then what will be listed on btc-ct?
And why would the price be different as it's the same thing?

Listed = AMC PT, as in, pass-through. So they are the same shares. Theoretically, there shouldn't be a price difference, but there will be marginal differences.

There will be 5million shares available that Ken can play with. It might be difficult to judge how much interest there is in AMC on BTC-TC. So my best bet is that a sizeable amount of shares will be release after approved (available at the current price on BitFunder, or maybe a floating price that moves with the price of BitFunder's) to see how much interest there is, and up the amount available if necessary. This is all speculation.

I'll change my stance to: AMC will probably release an equal amount of shares of whatever is left to buy on Bitfunder. So if 1 of the 2 million shares have been bought, he will release 1 million on BTC-CT, since that is what he needs to pay for the NRE.

Ok this is my new stance. From BTC-TC:

...After AMC recoups its NRE of ~1 Million dollars...

It looks like we had 1520 BTC on hand at the beginning of June.

The reinvestment fund of 20 million shares has received so far:

2013-06-26	฿0.00000080    * 20, 000,000 +
2013-06-19	฿0.00000101    * 20, 000,000 +
2013-06-12	฿0.00000077    * 20, 000,000 =	56.6 BTC

1520 BTC * $103 = $156,560
56.6 BTC * $103 = $5,314
= $156,560 + $5,314
= $161,864 this does not include dividends from the 15 or so million early adopter shares that had not sold at the time

Ken has release 2 million shares on BitFunder @ 0.0025, worth:
5000 BTC * $103 = $515,000

After selling all 2 million shares. AMC will have:
$161,864 + $515,000 = $676,864

Now let's look at the shareholder's list:

AMC   20,000,000   133vWXKUDgUHJ1RmFV7WQwr2N7Y1SF2QvV
AMC   8,809,056   19G1bxo86NZc2CwP6Qq9981fkbFtVUDc56
AMC   4,908,567   16yTynjmSe5bsRGykDaaCL5bm2pxiEfcqP
-----------------------------------------------------------
AMC   1,005,641   19kcTDYvBFd2W3CY8giV7wBep6GFvjNmTQ
AMC   617,206   1PHTa8x3Jo4nowjNDVLFxfpCtnE1Lasmgw
AMC   289,004   1G9CD1bVJ1E1MrUhC87sxZJ2QZ17uJqzVD
AMC   237,286   1NAZhPAhVKNbek9rgXSTjk2v5FXuyGPqsS
AMC   200,281   1Mn65Q9Xm6NBoPdF8ppS3AzgRLt92ZKtTq
AMC   200,001   1Jzhrg2SYQcV7QZQU62Fef1K2zW9bMfF92
AMC   177,734   1NJ4H2SMH4kaKXGFDQzCiJAYmYkWLatMxW
AMC   150,000   17vccqmnhJGZri6LWtRhJgta9yeKpns8TS
AMC   110,210   13DzTjabVGGN64Rc8V7tAkSZJ7BHUxuQqY
AMC   104,605   1EvTU1PFqAF6n3qXemeUXVTKbEFy5Rvaz4
AMC   100,544   1KH752orCcF5JPRVicDqoLNqsuDs1MpsGc
AMC   100,126   11128WoN565mVBD6upS5hwkBFkrncntJRX
AMC   100,126   12ReWsanTsbWGxrRqgoRijJcRr74Duj6h6
AMC   100,126   1HEEyQqdjUjz2ZBBxYNDSo2Sp2GPmvYexm
AMC   100,000   1LKSeSk8cE2hEPGPs4Chx7EsGa5KuAwmDQ

So:

AMC   20,000,000   Reinvestment fund
AMC   8,809,056   Early adopter share bin
AMC   4,908,567   BTC-TC bin

As to this line:

AMC   1,005,641   My best guess is that this was not bought on the market. This showed up when the price was at 0.0008 and was privately purchased.

1,005,641 * .0008 = 804.5128BTC * $103 = $82,864
$676,864 + $82,864 = $759,728.81

That put's us shy of $1,000,000 by about:
$1,000,000 - $759,728.81 = $240,271.19

After selling all 2 million shares, AMC still needs at least $240,271.19 / $103 = 2332 BTC -> 932,800 shares of AMC @ .0025

I foresee BTC-TC getting at least 1 million shares issued to them.    

Update: YES 3 / 0 NO    (1 ABSTAINING )

[Diamondstarfall]

Shareholders of AMC, please at this time don't undercut ken.

This is a cruicial step for AMC, and each share ken sells means 1 step closer to great success.

When you undercut ken now selling at 0.000001BTC below 0.0025, your short gains/flip will only hurt you as a shareholder and AMC as a whole in the long run.

[sprint347]

I'm along for the ride, the purchase at 0.0005 hasn't failed me yet...

[lewicki]

1 share of AMC on BitFunder represents 1/100,000,000th of 100% of the monthly profits after all expenses.
AMC shares offer no voting rights. Shares of AMC on BitFunder do not represent real world shares of the
company.  The shares are solely a distribution mechanism for rights to profits.

So, if you own a share of AMC or a share of AMC-PT. You really own nothing, except a portion of whatever profits the company decided to give out. Right? In my opinion, that is a horrible risk.

Suppose AMC decides that they need to invest in more equipment or capital to the point where the company is just breaking even. In that case, the value of the share is 0 because there is no profit, even though the company is doing well.

Suppose the company is sold for $1 billion to another company. AMC and AMC-PT shareholders get nothing. In fact, they lose all their money because the shares are worth 0 because there is no more company and no more profits.

I would never invest in these shares.

Straight from the bitfunder description:

Should the Cooperative be sold or closed, the full amount of the purchase price, liquidated income,
and any mining revenue not distributed will be evenly distributed to the 100,000,000 shares.

[LorenzoMoney]

No matter what happens, whether AMC succeeds in developing its own miners and establishes a mining farm that results in consistent substantial dividends for shareholders and the individual share price shoots up higher, or if AMC shares drop to some low, there will be some people who complain.  They will complain because the price shot up and they did not have a chance to send fiat to their favorite BTC exchange in time, and while waiting for the funds to get to their exchange the price moved up. Or, they will complain that they expected the price to go up continuously but by the time they bought into AMC, the price stabalized, or dropped a little.  My point is, with financial instruments, past performance does not correlate with future performance.

Some people took big risks in buying AMC a month ago. Some of those people are selling now and they have a right to take profit. Other people who bought at .0005 are holding their shares. Bitcoin is risky. Don't except that Ken, AMC, Bitcoin, Friedcat, or the bitcoin world owe you a return. So far, I have lost money and gained money, and most of it was not from brilliant investing but was from luck.

I am saying all this, because I want to address the complaints that are likely to appear on this thread if AMC price shoots up higher and some folk are not able to buy shares now, or if they buy at some high and then AMC price takes a profit correction.  Personally, I believe in the long term potential of AMC and will be holding on to the shares I have bought. And, when AMC begins to sell their own Fast Hash miners, I may buy one. Just, please, don't complain and understand that risk is always involved in any investment, especially a bitcoin investment, and no one owes you should your investment yield a loss.

SPRINGFIELD, MO, – June 26, 2013 – Active Mining Corporation (AMC) is announcing today the release of 2,000,000 shares at a price of 0.0025, in preparation for tomorrow's announcement concerning recent developments in their Research and Development program. The decision to release 2,000,000 today was made to resume the gathering of necessary funds for NRE costs, as soon as possible.  Active Mining Corporation is a Belize International Business Company DBA Active Mining Cooperative (AMC).

Very Smart move Sir.   

Necessary, i would have thought. Too high too fast gets the uninitiated exposed, me thinks. We saw it when people wanted refunds from .0009 to .0005

P.S. Can someone stand at the Ask wall, and politely move along those sellers getting in the way, please. Thankyoumuch.

[kosmokramer]

Why not wait until the price has spiked and then sell some more shares?

The price went from .0008 to .004 (briefly) in a week.  I think he did wait for the spike.  That's an INSANE return for initial investors so far.

I noticed that the mistake of adding that extra 0 keeps happening on bitfunder. Some lucky guy was able to buy at 0.0004.

Someone executed an option. Read this:

Why does 24 hour low on BitFunder always show a lower price than what has actually been hit? Has this been discussed on here yet? For example: today the low was .00055 but that wasn't hit. Are these private trades?

Exercised options, Ukyo already said that those will be hidden from the overview as well in the future.

I have told Ukto about this bug, so he is aware of the problem.

Moved this section to a new post.

I can confirm with 100% certainty that someone definitely executed an option (and made a killing, at that).

[lewicki]

YES 4 / 0 NO    (1 ABSTAINING )

[Diamondstarfall]

YES 4 / 0 NO    (1 ABSTAINING )

Any idea how many shares will be issued on btct? Will it be the same price at .0025BTC

[lewicki]

YES 4 / 0 NO    (1 ABSTAINING )

Any idea how many shares will be issued on btct? Will it be the same price at .0025BTC

I suppose that that depends on if we have burned through the 2 million by the time AMC is approved.

[freedomno1]

YES 4 / 0 NO    (1 ABSTAINING )

Any idea how many shares will be issued on btct? Will it be the same price at .0025BTC

I suppose that that depends on if we have burned through the 2 million by the time AMC is approved.

Wonder if it will approve before or after announcement or sync

[ronaldlee0917]

YES 4 / 0 NO    (1 ABSTAINING )

Any idea how many shares will be issued on btct? Will it be the same price at .0025BTC

I suppose that that depends on if we have burned through the 2 million by the time AMC is approved.

It is approved now.

[methax]

YES 4 / 0 NO    (1 ABSTAINING )

Any idea how many shares will be issued on btct? Will it be the same price at .0025BTC

I suppose that that depends on if we have burned through the 2 million by the time AMC is approved.

Wonder if it will approve before or after announcement or sync

AMC is getting exciting these days!

[freedomno1]

YES 4 / 0 NO    (1 ABSTAINING )

Any idea how many shares will be issued on btct? Will it be the same price at .0025BTC

I suppose that that depends on if we have burned through the 2 million by the time AMC is approved.

Wonder if it will approve before or after announcement or sync

AMC is getting exciting these days!

Well if something starts moving got to watch it also that chinese one and klondike too  
Assumes 0.00025 fun
And its approved
Gz AMC

[hl5460]

YES 4 / 0 NO    (1 ABSTAINING )

Any idea how many shares will be issued on btct? Will it be the same price at .0025BTC

According to the detail of AMC-PT, it should have 5 million.

[Exocyst]

So the 0.0025 wall is now 6.8 million shares? Or will BTCT.co be released at a different price?

[pikeadz]

YES 4 / 0 NO    (1 ABSTAINING )

Any idea how many shares will be issued on btct? Will it be the same price at .0025BTC

I suppose that that depends on if we have burned through the 2 million by the time AMC is approved.

Market is flooded with people undercutting.  This better be some insanely good news!

[kosmokramer]

YES 4 / 0 NO    (1 ABSTAINING )

Any idea how many shares will be issued on btct? Will it be the same price at .0025BTC

I suppose that that depends on if we have burned through the 2 million by the time AMC is approved.

Market is flooded with people undercutting.  This better be some insanely good news!

Nope - they're gone now