[AMC]-The Official Active Mining Cooperative Discussion

[lolstate]

Man, I'm quaking in my boots! A threat from the likes of steveioio will keep me awake tonight.

It was a genuine warning - I don't enforce the law the FBI do.

Lol, PRISM has it all. I guess if they come knocking, they will have all the proof they need!

[steveioio]

Lol, PRISM has it all. I guess if they come knocking, they will have all the proof they need!

You and Ken are clearly small time operators but you need to wake up and realise this is bigtime. Scamming a few people for a couple of grand worth of magicians equipment will fall under the radar, but this is so big you will be hunted down. You make light of it but it's true your identity will be uncovered and from there it's a plain and simple man-hunt. You might last 3-6months on the run before they track you down. You have a choice now - to take it all and run or give everyone back a minimum 0.0005. That might get you off the hook and with the proceeds you have left you might be able to afford a decent lawyer. You can't get away with this in 2013.

[lolstate]

Lol, PRISM has it all. I guess if they come knocking, they will have all the proof they need!

You and Ken are clearly small time operators but you need to wake up and realise this is bigtime. Scamming a few people for a couple of grand worth of magicians equipment will fall under the radar, but this is so big you will be hunted down. You make light of it but it's true your identity will be uncovered and from there it's a plain and simple man-hunt. You might last 3-6months on the run before they track you down. You have a choice now - to take it all and run or give everyone back a minimum 0.0005. That might get you off the hook and with the proceeds you have left you might be able to afford a decent lawyer. You can't get away with this in 2013.

Clearly. 

[auto2nr1]

Just in case shit hits the fan just did a little bit of digging to see what i can find out about the AMC/VMC management team.

Active Mining Corporation Management Team:

Kenneth E. Slaughter, CEO/CTO

Virtual Mining Corporation Management Team:

Kenneth E. Slaughter, CEO/CTO
Gerald L. Slaughter, COO/CFO
Micha Slaughter, VP Manufacturing Operations
Darin Carolus, VP Marketing


http://www.linkedin.com/pub/ken-slaughter/22/962/351
http://www.linkedin.com/pub/kenneth-e-slaughter/22/ba4/249

I tried to get more personal info on Ken and found 2 LinkedIn addresses.

https://www.facebook.com/gerald.slaughter.33

I think this is the same Gerald Slaughter on the VMC management team. Ken went to a Eastern New Mexico University and Gerald graduated from Clovis High in New Mexico.

Couldn't find anything on Micha Slaughter but found a Micah Slaughter located in MO. Maybe they got the name wrong?

[lolstate]

Just in case shit hits the fan just did a little bit of digging to see what i can find out about the AMC/VMC management team.

Auto, don't take this the wrong way, but you did say you were a share holder? I have been for a while and before I paid 1 satoshi, I did all my due diligence (such as looking at LinkedIn profiles) to conclude Ken is a real boy.

Is it time we contacted btct and BitFunder to ask what confidence level they have that Ken really exists? I mean, they are running stock exchanges, be they virtual, so they must have applied some KYC rules, right? 

Roll on Monday (or Tuesday) when we can munch our way through the FAQ and start to make some progress normalising this situation.

[mobile]

Ken should not engage directly on this thread. We, as share holders, should appoint a person of contact who can funnel the communication between us.

+1

Once it was evident that a handful of weak hands were among the early btct.co investors , lack of proper PR became the first element of personal frustration. But then it was considered that I rather Ken handle the in workings of AMC & he should of considered setting an "official person of contact/PR". Something not unfamiliar for a company is based in the heavy customer service ;aden continent of North America.

Steady holding.....


edit** removed unrelated quotes. Added a space under +1

[auto2nr1]

Just in case shit hits the fan just did a little bit of digging to see what i can find out about the AMC/VMC management team.

Auto, don't take this the wrong way, but you did say you were a share holder? I have been for a while and before I paid 1 satoshi, I did all my due diligence (such as looking at LinkedIn profiles) to conclude Ken is a real boy.

Is it time we contacted btct and BitFunder to ask what confidence level they have that Ken really exists? I mean, they are running stock exchanges, be they virtual, so they must have applied some KYC rules, right? 

Roll on Monday (or Tuesday) when we can munch our way through the FAQ and start to make some progress normalising this situation.

I am sorry but what does KYC rules mean? I am waiting for what Ken has to say on Monday. He says he is putting together a FAQ list but he is going to have to make some changes soon after that comes out for this security to make sense and ultimately to benefit the shareholders. Once all this gets sorted out and taken care of the shareholders as well as future investors will be happy. Hopefully he comes through for the shareholders. I am sure many of us would be more than willing to invest more once they feel confident in the terms and agreement.

[lolstate]

I am sorry but what does KYC rules mean? I am waiting for what Ken has to say on Monday. He says he is putting together a FAQ list but he is going to have to make some changes soon after that comes out for this security to make sense and ultimately to benefit the shareholders. Once all this gets sorted out and taken care of the shareholders as well as future investors will be happy. Hopefully he comes through for the shareholders. I am sure many of us would be more than willing to invest more once they feel confident in the terms and agreement.

KYC = 'Know Your Customer'. Basically, rules enforced on banks so they have to 'know' who their customers are. The idea is applying such rules will help frustrate attempts at fraud and money laundering, which often pivot on an individual assuming a false identity.

Now, btct.co and BitFunder, while being virtual simulations, are likely to have insisted on some level of proof of ID from the owners of listed securities, even if not required by their local laws. So, I have a feeling they know more about Ken than we do, and if Ken didn't exist, he would have never been listed.

[steveioio]

Just in case shit hits the fan just did a little bit of digging to see what i can find out about the AMC/VMC management team.

Active Mining Corporation Management Team:

Kenneth E. Slaughter, CEO/CTO

Virtual Mining Corporation Management Team:

Kenneth E. Slaughter, CEO/CTO
Gerald L. Slaughter, COO/CFO
Micha Slaughter, VP Manufacturing Operations
Darin Carolus, VP Marketing


http://www.linkedin.com/pub/ken-slaughter/22/962/351
http://www.linkedin.com/pub/kenneth-e-slaughter/22/ba4/249

I tried to get more personal info on Ken and found 2 LinkedIn addresses.

https://www.facebook.com/gerald.slaughter.33

I think this is the same Gerald Slaughter on the VMC management team. Ken went to a Eastern New Mexico University and Gerald graduated from Clovis High in New Mexico.

Couldn't find anything on Micha Slaughter but found a Micah Slaughter located in MO. Maybe they got the name wrong?

Excellent work. They look like a bunch of hillbillies - it's worse than I thought.

[steveioio]

some level of proof of ID from the owners of listed securities, even if not required by their local laws. So, I have a feeling they know more about Ken than we do, and if Ken didn't exist, he would have never been listed.

You do know how easy it is to fake ID don't you?

[lolstate]

some level of proof of ID from the owners of listed securities, even if not required by their local laws. So, I have a feeling they know more about Ken than we do, and if Ken didn't exist, he would have never been listed.

You do know how easy it is to fake ID don't you?

You are kidding me, right? 

[WildFire.ca]

The 2 company's need to be merged in too one to remove the uncertainty of a second entity being involved. If Ken wants to get paid more then he should have AMC buy VMC for 10 million of the 60 million outstanding shares. Also he can not dump the 10 million shares on the market for a year.

[auto2nr1]

I am sorry but what does KYC rules mean? I am waiting for what Ken has to say on Monday. He says he is putting together a FAQ list but he is going to have to make some changes soon after that comes out for this security to make sense and ultimately to benefit the shareholders. Once all this gets sorted out and taken care of the shareholders as well as future investors will be happy. Hopefully he comes through for the shareholders. I am sure many of us would be more than willing to invest more once they feel confident in the terms and agreement.

KYC = 'Know Your Customer'. Basically, rules enforced on banks so they have to 'know' who their customers are. The idea is applying such rules will help frustrate attempts at fraud and money laundering, which often pivot on an individual assuming a false identity.

Now, btct.co and BitFunder, while being virtual simulations, are likely to have insisted on some level of proof of ID from the owners of listed securities, even if not required by their local laws. So, I have a feeling they know more about Ken than we do, and if Ken didn't exist, he would have never been listed.

Got it. Thanks for clearing that up. I hope BTCT.co and BitFunder has legal documents on file such as drivers license, passport, utility statement to verify issuers putting up stocks on their exchanges. If not this is a major problem for all BTC exchanges and will become a bigger problem and easier for potential scams to bring down the Bitcoin community. I guess time will tell how this all plays out. Hopefully we can re-write the original terms and agreement between Ken and the shareholders.

http://www.reddit.com/r/Bitcoin/comments/1ha3c5/amc_shares_drop_from_25_mbtc_to_08_mbtc_in_less/

[–]LsDmT 7 points 1 day ago*
1) for 0.0025 I can buy share that represents 1/100,000,000th of profits of AMC mining
2) from now to next year's april I will get 1/40,000,000 of AMC's profits (unfortunately the ASICs are scheduled for Q4 2013 - Q1 2014)
3) the AMC's hardware is preordered from this other company VMC
4) the VMC's hardware development is supposedly funded by kslaughter (stated previously in this thread), but in the Marketing Strategy part of the contract at btct.co it's written "AMC is developing an ASIC chip which will be marketed through VMC." From the new anouncement: "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."
5) if VMC start selling their chips to public, the AMC will get 10% of their profit
6) kslaughter has put his hard work and 6 Avalons in the company, now values his share in AMC for $15,000,000. Also he takes 90% of profit from the hardware sales. i.e. The most worrying aspect of the whole setup, is why does VMC, and ultimately Ken, benefit 90% from hardware sales that AMC (read, US) invested in and funded.
7) kslaughter is now selling the shares for 0.0025, but can later sell more for 0.0005 as stated in the summary at bifunder (also that has happened before).
8 ) the profit calculation in contract is based on assumption that the difficulty will rise only by 6.5% on average for next 24 months
9) shares have no voting rights - does it mean that contract can be changed? Or that shares can be diluted (more than 100,000,000 issued)?

I am very uncomfortable with all these issues addressed. Especially everything from #5 ~ #9. AMC needs to take in all if not majority of the profits from VMC hardware sales. Which is why we don't need VMC. Get rid of it. This only makes sense because AMC put up the money for the NRE to create the chip therefore AMC should profit from all sales from chip sales. We should flip the switch and take up 90% profit for AMC and 10% for Ken/VMC after the NRE has been paid back to AMC investors. Ken should not be allowed to issues new shares for lower than market price at the time of the offering. Shares should have voting rights as Ken does not know what he is doing. I am sure us investors will have a better idea of how to point the company in the right direction to benefit all the shareholders. As a shareholder i want to look out for other shareholders and hope to make better decisions to favor US as shareholders. I don't understand why so many shares are needed to begin with 100,000,000 shares? That ridiculous. I don't want for our dividends to be diluted to dust. Less shares issued will keep AMC shares valuable and dividends worth the investment.

[lolstate]

The 2 company's need to be merged in too one to remove the uncertainty of a second entity being involved. If Ken wants to get paid more then he should have AMC buy VMC for 10 million of the 60 million outstanding shares. Also he can not be dump the 10 million shares on the market for a year.

Let's not get ahead of ourselves. It might be sensible to merge AMC and VMC, or it might not be. There is more to consider than simply flattening the org chart so it looks neater. There are also legal issues to consider ie VMC operating in US territory and AMC being described as a Bitcoin mining cooperative, essentially operating in cyberspace. Gentlemen, this is the future, so let's slow down, think clearly and work on getting rich together without treading on the toes of the Feds.  

Edit: I should have added AMC is a Belize company, but obviously the point stands. There is an interface between US/cyberspace and VMC/AMC currently, so it is premature to assume merging VMC and AMC is a no brainer.

[Exocyst]

The Trolls on this thread will never be satisfied by what Ken does. Ultimately, they have made up their minds and are unwilling to consider other points of view.

I don't think I am being scammed by kslaughter. I think he will succeed in making AMC successful. This thread has been ruined by persistent trolling. Patience will be the bearer of bitter news for either AMC believers or AMC doubters, but all this pointless arguing is solving nothing. Just wait and see what the future brings.

I have a specific grievance with BitcoinMegastore, who has admitted that he is seeking only to undermine AMC. He has admitted to abusing the bitcointalk trust system simply because he disagrees with users who support AMC because "they must be shills". Personally, I am not a shill. I am a real person with a family, a job, a house, and a dog. My investments and my bitcoins matter to me. A merchant abusing the trust system for no other reason than spite is a staggering offence. How can any person trust BitcoinMegastore in a transaction if he is willing to bear false witness of transactions simply to abuse the trust system on this forum? Would he do the same on bitcoin-otc? Would he take you bitcoins, but fail to send you goods from his website simply because he dislikes one of your investments?

I am appalled by your childish behaviour.

[auto2nr1]

The 2 company's need to be merged in too one to remove the uncertainty of a second entity being involved. If Ken wants to get paid more then he should have AMC buy VMC for 10 million of the 60 million outstanding shares. Also he can not be dump the 10 million shares on the market for a year.

I am strongly for this change. We need more people to get on board with this #1 must needed change. There are 2 ideas that i have.

1. VMC will be absorbed into AMC for 10 million shares. AMC's shares should be capped out at 50m which is half of what is offered now. 20m will go to the growth fund. 20m will be out there on the market. 10m will go to VMC/Ken. This way the shares will not be diluted to nothing and the value of each share will be high which is what all we want.

2. VMC an still exist but the profit payment must change. 90% goes to AMC and 10% goes to VMC. This will be a incentive for VMC to continue to manufacture and push out more product to make more money on Ken/VMC's end. In return we (AMC) will continue to make profit on our original investment for the NRE which is rightfully ours. This should continue on for the lifetime of VMC/AMC's relationship. This will also give our shares more value and will make AMC successful and shareholders will be happy.

"If you make your Investors successful, you will be successful". Active Mining Cooperative (AMC) https://bitfunder.com/asset/AMC

If Ken really backs what his signature states. Something like this or something better will make AMC's INVESTORS successful and will make Ken successful. Can i get some feedback on the two options proposed? It is hell of a lot better than what we have going on now.

[auto2nr1]

The 2 company's need to be merged in too one to remove the uncertainty of a second entity being involved. If Ken wants to get paid more then he should have AMC buy VMC for 10 million of the 60 million outstanding shares. Also he can not be dump the 10 million shares on the market for a year.

Let's not get ahead of ourselves. It might be sensible to merge AMC and VMC, or it might not be. There is more to consider than simply flattening the org chart so it looks neater. There are also legal issues to consider ie VMC operating in US territory and AMC being described as a Bitcoin mining cooperative, essentially operating in cyberspace. Gentlemen, this is the future, so let's slow down, think clearly and work on getting rich together without treading on the toes of the Feds. 

Edit: I should have added AMC is a Belize company, but obviously the point stands. There is an interface between US/cyberspace and VMC/AMC currently, so it is premature to assume merging VMC and AMC is a no brainer.

I have thought about this and have seen others address this issue. What about AMC taking a larger portion of the profits from VMC sales? We can turn the table and do 90% AMC and 10% VMC. Something like this would work and i would be happy as a shareholder. Ken can still keep VMC and we are still protected from legal issues.

EDIT: We can also have a hybrid of both ideas. VMC can take in some AMC shares so VMC will also benefit from AMC's mining operation. That way Ken takes in 10% of hardware sales and he can also profit from AMC's mining. This is more incentive for both entities to continue building the business to benefit each other.

[steveioio]

Just in case shit hits the fan just did a little bit of digging to see what i can find out about the AMC/VMC management team.

Active Mining Corporation Management Team:

Kenneth E. Slaughter, CEO/CTO

Virtual Mining Corporation Management Team:

Kenneth E. Slaughter, CEO/CTO
Gerald L. Slaughter, COO/CFO
Micha Slaughter, VP Manufacturing Operations
Darin Carolus, VP Marketing


http://www.linkedin.com/pub/ken-slaughter/22/962/351
http://www.linkedin.com/pub/kenneth-e-slaughter/22/ba4/249

I tried to get more personal info on Ken and found 2 LinkedIn addresses.

https://www.facebook.com/gerald.slaughter.33

I think this is the same Gerald Slaughter on the VMC management team. Ken went to a Eastern New Mexico University and Gerald graduated from Clovis High in New Mexico.

Couldn't find anything on Micha Slaughter but found a Micah Slaughter located in MO. Maybe they got the name wrong?

Kenneth E Slaughter is or was CEO of 'Can2it' as seen on Linedin - http://www.linkedin.com/pub/kenneth-e-slaughter/22/ba4/249

Can2it and axs.net are one and the same entity as seen here - http://www.axs.net/dedicated.html

home address given for contacting axs by mail (under Section 15/Notices) as seen here  - http://www.axs.net/tos.html  (page revised 6/13/2010)

1951 S. Oak Grove Ave, Springfield, Missouri, 65804-2703, USA

[lolstate]

The Trolls on this thread will never be satisfied by what Ken does. Ultimately, they have made up their minds and are unwilling to consider other points of view.

I don't think I am being scammed by kslaughter. I think he will succeed in making AMC successful. This thread has been ruined by persistent trolling. Patience will be the bearer of bitter news for either AMC believers or AMC doubters, but all this pointless arguing is solving nothing. Just wait and see what the future brings.

I have a specific grievance with BitcoinMegastore, who has admitted that he is seeking only to undermine AMC. He has admitted to abusing the bitcointalk trust system simply because he disagrees with users who support AMC because "they must be shills". Personally, I am not a shill. I am a real person with a family, a job, a house, and a dog. My investments and my bitcoins matter to me. A merchant abusing the trust system for no other reason than spite is a staggering offence. How can any person trust BitcoinMegastore in a transaction if he is willing to bear false witness of transactions simply to abuse the trust system on this forum? Would he do the same on bitcoin-otc? Would he take you bitcoins, but fail to send you goods from his website simply because he dislikes one of your investments?

I am appalled by your childish behaviour.

+1

[lolstate]

I have thought about this and have seen others address this issue. What about AMC taking a larger portion of the profits from VMC sales? We can turn the table and do 90% AMC and 10% VMC. Something like this would work and i would be happy as a shareholder. Ken can still keep VMC and we are still protected from legal issues.

I'm open to all kinds of suggestions, but two things are essential for any change to the current set up to succeed: a) Ken hits pay dirt when AMC succeeds b) weak hands do not get compensated