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Author Topic: [AMC]-The Official Active Mining Cooperative Discussion  (Read 223246 times)
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TaaviK
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June 27, 2013, 09:03:16 PM
 #1221

"...until the total dividends paid is equal to 0.0005 BTC per share and 12 months have elapsed from the date of the initial offering." (bitfunder asset faq)

So not only 0,0005 BTC per share of dividends but also 12 months needs to have passed from inital IPO and only then the 60mil shares start receiving dividends.
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binaryFate
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June 27, 2013, 09:04:29 PM
 #1222

"...until the total dividends paid is equal to 0.0005 BTC per share and 12 months have elapsed from the date of the initial offering." (bitfunder asset faq)

So not only 0,0005 BTC per share of dividends but also 12 months needs to have passed from inital IPO and only then the 60mil shares start receiving dividends.

So those buying now on btct won't see any dividends for a year?? No way!!  Huh

EDIT: I don't believe anyone can buy under such conditions, this must apply to bitfunder only? One year is an eternity in BTC world.

Monero's privacy and therefore fungibility are MUCH stronger than Bitcoin's. 
This makes Monero a better candidate to deserve the term "digital cash".
grimholt
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June 27, 2013, 09:08:37 PM
 #1223

"...until the total dividends paid is equal to 0.0005 BTC per share and 12 months have elapsed from the date of the initial offering." (bitfunder asset faq)

So not only 0,0005 BTC per share of dividends but also 12 months needs to have passed from inital IPO and only then the 60mil shares start receiving dividends.

So those buying now on btct won't see any dividends for a year?? No way!!  Huh

EDIT: I don't believe anyone can buy under such conditions, this must apply to bitfunder only? One year is an eternity in BTC world.


No, this is not the case:

So how many shares are issued now? Is that 40,000,000 + 2,000,000 (being issued now at bitfunder) + 2,000,000 (being issued now at btct)?

The 5 million on BTC-TC are part of the 40 million issued on BitFunder. 40,000,000 shares issued total.

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TaaviK
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June 27, 2013, 09:13:50 PM
 #1224


So those buying now on btct won't see any dividends for a year?? No way!!  Huh

no no, all the shares being sold on bitfunder and btc-tc are part of the 40mil shares that will always receive dividends. Of that 40million shares 50% is for IPO and 50% for growth and investment fund. the rest of the shares - 60mil (because 100mil is total amount of shares) - will only start receiving dividends when all the 40mil shares have got 0,0005 btc per share and 12months have passed.

this means that next year around april or may (dont remember exactly when IPO started) the dividends will drop 2,5x per share since 12months have passed and dividends will now be divided between 100 million shares and not 40 million as before.

the 60mil shares are the owner's shares and are not part of the ipo.
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June 27, 2013, 09:16:49 PM
 #1225


So those buying now on btct won't see any dividends for a year?? No way!!  Huh

no no, all the shares being sold on bitfunder and btc-tc are part of the 40mil shares that will always receive dividends. Of that 40million shares 50% is for IPO and 50% for growth and investment fund. the rest of the shares - 60mil (because 100mil is total amount of shares) - will only start receiving dividends when all the 40mil shares have got 0,0005 btc per share and 12months have passed.

this means that next year around april or may (dont remember exactly when IPO started) the dividends will drop 2,5x per share since 12months have passed and dividends will now be divided between 100 million shares and not 40 million as before.

the 60mil shares are the owner's shares and are not part of the ipo.

Thanks a lot, that's more clear now.

Monero's privacy and therefore fungibility are MUCH stronger than Bitcoin's. 
This makes Monero a better candidate to deserve the term "digital cash".
TheSwede75
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June 27, 2013, 09:18:29 PM
 #1226

I don't think anyone is expecting any 'mind blowing' news. The 'problem' the way I see it is that at current valuation, the company is already valued as a mature and profitable ASIC reseller. Hell, if you weight in the total dilution of 100.000.000 shares @ current price we are looking at 25 MILLION USD company that currently only own about $1 million in capital (if the new shares sell) and a few Avalon clones and chip orders.

That's the problem of valuing things by #shares * price, disregarding volume. AMC is only worth $25M if anyone is willing to pay that much for it as a whole.

I can say my car is worth $10M. Am I correct? I am if I find anyone wanting to buy it at that price (volume!).

?? Volume has nothing to do with market valuation. CURRENT value is around $25 million if you are investing, and same if you sell at current price.
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June 27, 2013, 09:18:36 PM
 #1227


So those buying now on btct won't see any dividends for a year?? No way!!  Huh

no no, all the shares being sold on bitfunder and btc-tc are part of the 40mil shares that will always receive dividends. Of that 40million shares 50% is for IPO and 50% for growth and investment fund. the rest of the shares - 60mil (because 100mil is total amount of shares) - will only start receiving dividends when all the 40mil shares have got 0,0005 btc per share and 12months have passed.

this means that next year around april or may (dont remember exactly when IPO started) the dividends will drop 2,5x per share since 12months have passed and dividends will now be divided between 100 million shares and not 40 million as before.

the 60mil shares are the owner's shares and are not part of the ipo.

Thats your 3rd post since March? More posts like the above please.  Wink
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June 27, 2013, 09:21:40 PM
 #1228

Thats your 3rd post since March? More posts like the above please.  Wink

Seconded. Also, investors need to read and do their own due diligence before they start trying to light fires.
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June 27, 2013, 09:28:02 PM
 #1229

Thats your 3rd post since March? More posts like the above please.  Wink

Seconded. Also, investors need to read and do their own due diligence before they start trying to light fires.

Seconded too. Sorry for my dumb questions, but the counter is flying and does not leave much time left to research thoroughly alone...
I'm in too now, happy to join the boat.  Smiley
 

Monero's privacy and therefore fungibility are MUCH stronger than Bitcoin's. 
This makes Monero a better candidate to deserve the term "digital cash".
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June 27, 2013, 09:34:41 PM
 #1230

"Payment of dividends is to be made within 2 weeks of their issuance from AMC.
Dividend payments made more than 72 hours after their issuance from AMC will be paid 100% of the original AMC dividend."

This is from btct details. What % fee are we paying on dividends that are paid within 72 hours? Otherwise what's the point of this clause, I couldn't find it mentioned.

Side note will AMC issue weekly dividends or do they have a differing schedule?
chsados
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June 27, 2013, 09:37:00 PM
 #1231

I can't help but feel that this 0.0025 IPO is heavily in favor for the early adopters.  
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June 27, 2013, 09:38:44 PM
 #1232

I can't help but feel that this 0.0025 IPO is heavily in favor for the early adopters.  

You mean those that got in at 0.0005?

Monero's privacy and therefore fungibility are MUCH stronger than Bitcoin's. 
This makes Monero a better candidate to deserve the term "digital cash".
pikeadz
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June 27, 2013, 09:39:55 PM
 #1233

I can't help but feel that this 0.0025 IPO is heavily in favor for the early adopters.  

We are the early adopters, of Bitcoin and of AMC.
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June 27, 2013, 09:41:17 PM
 #1234

I can't help but feel that this 0.0025 IPO is heavily in favor for the early adopters.  

Shame on them for taking a greater risk right? Are you out of your mind?
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June 27, 2013, 09:42:57 PM
 #1235

Just make sure you all do your math and hold no grudges Smiley
Waits for announcement not long now by server time
chsados
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June 27, 2013, 09:43:20 PM
 #1236

I can't help but feel that this 0.0025 IPO is heavily in favor for the early adopters.  

We are the early adopters, of Bitcoin and of AMC.

I beg to differ regarding AMC.  I'll concede if price surpasses 0.0025 in the coming months.

Ken is releasing it at 0.0025 BTC / share.  Each share being 1 /100 000 000 of AMC
So you get a market cap of 250 000 BTC, or $25M US at $100/BTC.
That works out to $4.1M per Avalon machine!

How the price of 0.0025 was conceived makes no sense to me.  I thought the original IPO (at a much much lower price) was supposed to be for hardware funding to begin with.
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June 27, 2013, 09:44:20 PM
 #1237

The NEWS!!??!

A notification has been posted to AMC-PT.  You have received this email
because you own shares of AMC-PT.

-----
VMC And AMC Are Proud To Announce The "World's Fastest Bitcoin Mining Chip".

SPRINGFIELD, MO, - June 27, 2013 - Active Mining Corporation (AMC) and Virtual Mining

Corporation (VMC) are announcing today the preliminary results from VMC's partner

eASIC (www.easic.com) regarding the performance of the Fast-Hash-ONE Bitcoin mining chip,

built on eASIC's top of the line 28nm technology.

Each chip holds 20 miner cores, with an expected frequency from 800MHz (16GH/s)

to 1GHz (20GH/s). This is possible thanks to eASIC's expertise and AMC's heavily

optimized design, making Fast-Hash-ONE the "World's Fastest Bitcoin Mining Chip".

The chip is expected in limited quantities in Q4 2013 and fully available in Q1 2014

and will be the backbone of AMC's drive to be the "World's Largest Bitcoin Mining

Farm".

See our thread on bitcointalk.org for more information.

-----

Thank you for using BTC-TC

lewicki
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June 27, 2013, 09:44:44 PM
 #1238



I beg to differ regarding AMC.  I'll concede if price surpasses 0.0025 in the coming months.

Ken is releasing it at 0.0025 BTC / share.  Each share being 1 /100 000 000 of AMC
So you get a market cap of 250 000 BTC, or $25M US at $100/BTC.
That works out to $4.1M per Avalon machine!

You obviously don't understand the concept of raising money needed for future profits.
kslaughter (OP)
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June 27, 2013, 09:46:41 PM
 #1239

VMC And AMC Are Proud To Announce The "World's Fastest Bitcoin Mining Chip".

SPRINGFIELD, MO, - June 27, 2013 - Active Mining Corporation (AMC) and Virtual Mining

Corporation (VMC) are announcing today the preliminary results from VMC's partner

eASIC (www.easic.com) regarding the performance of the Fast-Hash-ONE Bitcoin mining chip,

built on eASIC's top of the line 28nm technology.

Each chip holds 20 miner cores, with an expected frequency from 800MHz (16GH/s)

to 1GHz (20GH/s). This is possible thanks to eASIC's expertise and AMC's heavily

optimized design, making Fast-Hash-ONE the "World's Fastest Bitcoin Mining Chip".

The chip is expected in limited quantities in Q4 2013 and fully available in Q1 2014

and will be the backbone of AMC's drive to be the "World's Largest Bitcoin Mining

Farm".

VMC will also use this chip in its Fast-Hash-XXX and Fast-Hash-TH series of Bitcoin Mining
Machines, with Prepaid Pre-Orders immediately available on VMC's web site.

Prepaid Pre-Orders for bulk purchases of the Fast-Hash-ONE chip will also be
immediately available on VMC's web site (www.virtualminingcorp.com).

The maximum NRE total cost asked to us is around $1,000,000, but we are expecting it may go
down from there. We estimate a total sale of 4,000,000 shares at ฿0.0025 for covering all
the NRE associated costs, considering BTC/USD fluctuations.
AMC has released 2,000,000 shares yesterday at ฿0.0025 on BitFunder, as a headstart for
long-term investors, resuming the gathering of necessary funds for NRE costs. Today we
released the remaining 2,000,000 shares at ฿0.0025 on BTC-TC following the approval there,
as a means for gathering more investors.
Although it can be debated, a price of ฿0.0025 for the current batch is an excellent entry
point for anyone investing into something of this scale. "We're not in Kansas anymore!" Grin

VMC is also announcing today that 100% of the profits from bulk sales of the
Fast-Hash-ONE chips will be reimbursed to AMC until the total amount that AMC has paid to
VMC for the NRE to create this chip is totally reimbursed to AMC.  AMC will also
have the First Rights Of Refusal on a number of machines built with the Fast-Hash-ONE.

eASIC's details:
eASIC was Rated Third Fastest Growing Semiconductor Company in North America on
Deloitte’s 2012 Technology Fast 500™ and their choice as our partner is a significant
one. Our excellent news is possible thanks to eASIC's ingenious process to integrate
AMC's optimized code into a fully functional ASIC in record time. Please check
eASIC's web site for futher information. At the moment, only 45nm information is available
there for the eASIC Nextreme-2 family, but it is sufficient to fully understand our
short- and long-term plan on 28nm and lower.

As a summary, we'll present two very important key features that are part of our
ace in the sleeve for AMC, which will help everyone realise how this project can be
executed in weeks/months, rather than years:

Fast Turnaround ASICs
"When it comes to device manufacturing and test, eASIC Nextreme-2 family takes only
a fraction of the time of standard cell ASICs as only one via layer needs to be
customized for each design. This means that wafer manufacturing can start much
earlier and even during the design stage itself.
"



easicopy ASIC Migration
"easicopy ASIC provides OEMs with a seamless path from a eASIC Nextreme or Nextreme-2
NEW ASIC to a, cell-based, easicopy ASIC thereby enabling OEMs to further reduce
device cost and power consumption, or increase performance.
"



Other Important News:

The second order of 3 Avalon's have arrived and are now hashing, bringing AMC's total
hash rate up to 400,000+ MH/s.

Still on order are:
- 68 Klondike-16 chip boards (~306,000 MH/s) with an estimated delivery date of Mid July;
- 20,000 Avalon chips (~5,640,000 MH/s) with an estimated delivery date of Mid August.

We are also busy working with our Electronic Engineering and Manufacturing Services
firm to create our Fast-Hash-XX Avalon clones.
Our prototype is getting close to being manufactured.  We also have on order complete
boards to build the first 40 Avalon clones for AMC's estimated delivery of 8/31.
AMC will have the next 22 machines built with a delivery date TBD.

=========================================================

Technical Details Of The Fast-Hash-ONE 28nm ASIC Chip:

The design is built on eASIC's 28nm Nextreme family process.

Bitcoin Engines: 20 fully unfolded, optimized hand routed cores.

Expected operational frequency: 800MHz nominal (1GHz max).

Performance design: 16GH/s at 800Mhz.

Estimated Chip Power Consumption: 11.136 Watts (~0.696 Watts per GH/s).

Packaging: 28nm Flip Chip design, Standard BGA 672 (excellent heat dissipation).

Die size: 27 x 27 mm

Fab Technology: Global Foundries advanced 28nm

Design type: Optimized code, 100% Hand routed for max performance density.

Availability: Estimated Limited quantities in Q3 2013, with a higher volume in Q1 2014.

Reference board material will be provided as soon as possible.

These are Preliminary Specifications and can be subject to change.

=============================================

Technical Details Of The Fast-Hash-XXX Series Of Machines:

Highy modular design, with great expansability.

Each Board contains 16 chips @ 16 GH/s each, for 256 GH/s per board.

Each Base unit can contain from 1 to 6 Boards (256 GH/s to 1.536 TH/s).

1 to 6 Expansion cases may be added to the system. (6 to 96 Boards for
a hash rate from 1.536 TH/s to 24.576 TH/s).

These are Preliminary Specifications and can be subject to change.

Virtual Mining Corporation is a Delaware Corporation and Active Mining
Corporation is a Belize International Business Company DBA Active Mining
Cooperative collectively (AMC).
neilol
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June 27, 2013, 09:47:43 PM
 #1240

Woah - lets see if those shares disappear

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