[AMC]-The Official Active Mining Cooperative Discussion

[runam0k]

I wonder if there were really any idiots listen to Ken's "advice", sold their Asicminer shares and bought AMC?

I assume you didn't so WTF are you posting in here for? There are enough people spamming this thread with useless shit.

Post in the crash and burn thread instead: https://109.201.133.65/index.php?topic=245713.0

[lysr]

I wonder if there were really any idiots listen to Ken's "advice", sold their Asicminer shares and bought AMC?

I assume you didn't so WTF are you posting in here for? There are enough people spamming this thread with useless shit.

Post in the crash and burn thread instead: https://109.201.133.65/index.php?topic=245713.0

Because watching the butt-hurt reaction of you this kind of idiots worth my time.

[bigdude]

Are the trolls actually reading any posts other than their own?

Ken continues to post on this forum and is not hiding away as some suggest.

Simply look at his most recent posts and you will see he contributed four times on June 29th, five times on June 30th and once already today.

And NONE of those posts answered the real questions we are asking. Namely:

1. provide evidence of the announcements Ken has made.

2. will he do as shareholders say, and fix the rediculous situation with AMC & VMC

[Vbs]

Are the trolls actually reading any posts other than their own?

Ken continues to post on this forum and is not hiding away as some suggest.

Simply look at his most recent posts and you will see he contributed four times on June 29th, five times on June 30th and once already today.

And NONE of those posts answered the real questions we are asking. Namely:

1. provide evidence of the announcements Ken has made.

2. will he do as shareholders say, and fix the rediculous situation with AMC & VMC

A FAQ is being written. There's no point in answering any of that now to be later buried and buried again. Hold on!

[bigdude]

Are the trolls actually reading any posts other than their own?

Ken continues to post on this forum and is not hiding away as some suggest.

Simply look at his most recent posts and you will see he contributed four times on June 29th, five times on June 30th and once already today.

And NONE of those posts answered the real questions we are asking. Namely:

1. provide evidence of the announcements Ken has made.

2. will he do as shareholders say, and fix the rediculous situation with AMC & VMC

A FAQ is being written. There's no point in answering any of that now to be later buried and buried again. Hold on!

True ... I'm holding on 

[lysr]

Just checked the FAQ on Bitfunder and found this shit

Question:   What is the total hash rate of the VMC provided machines?
Answer:   Total Bitcoin Mining Equipment Speed by March 2015 (992,384,000 MH/s * 992,384 GH/s * 992.384 TH/s)

LOLOLOL, Asicminer will have 1000TH by Dec 2013, you are losing the race by over a whole year! Good luck with your endeavor to become Asicminer 2.0. AMC is a joke...

[zxyzxy]

AM wont have that power by the end of the year, you joker.. that may be the power of whole network at best.

[pikeadz]

Just checked the FAQ on Bitfunder and found this shit

Question:   What is the total hash rate of the VMC provided machines?
Answer:   Total Bitcoin Mining Equipment Speed by March 2015 (992,384,000 MH/s * 992,384 GH/s * 992.384 TH/s)

LOLOLOL, Asicminer will have 1000TH by Dec 2013, you are losing the race by over a whole year! Good luck with your endeavor to become Asicminer 2.0. AMC is a joke...

AM is throttled at whatever percentage below 51% they wish to maintain, you don't seem too smart so I'll keep it simple. If the total hashrate is only 1000TH by the end of December, AMs will only be 30-40% of that.

That FAQ was written before AMC got the preliminary results from eASIC on how fast the chips would run. We all understand you have AM shares and any competition to that would make you less money so continue to troll this thread.

at 16 GH/Chip, you can assume that AMC can grow as fast as the foundry can produce chips and the packager can mount them. (Just like AM)

I'm going to assume I'll get a couple troll replies to this post saying blah blah blah how do you know there is an asic blah blah blah, well that's the whole point of buying shares not and not later. You buy now to take a huge chance with huge returns if everything goes as planned, otherwise yes I would just buy AM shares and watch as I make a few coins instead of the insane amount they got when they bought before AM had anything.

Okay, but if the future plays out like the past, they will just sell the extra hardware and the 1000TH will still materialize anyway, just in thousands of people's basements.  You missed the main point.  AMC is not competitive at that hash rate.

[forensick]

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.

Do you understand what trust system is, at all? "Risked BTC amount is money that the person could have stolen or did steal." Got it now? If I
think someone is a scammer or is helping scammer I have full right to express my opinion on that and warn unsuspecting people of proven or
potential scam. It is called damage prevention. You might be fine with everyone and everything until shits happen but that does not mean I or
anyone else must use the same approach.

As for my transactions and store, first thing you need to learn is to check person's past activity on this forum and look for evidence of scam
or attempted scam and second you need to learn how store works, e.g. who is sending you printed items and so on. Do your homework before
you address me or my store again and eventualy call me a shill or scammer, thanks.

It would be cool if you stop talking about me. I have stated my mission here. I'm not selling you anything here. This thread is not about me or
my store but AMC "project" so stay on topic. If you don't like what I post just ignore me just like I ignored loltard and few others so I can focus
on important matters here.

your posts seem to be more promotion for your own store than any real arguments against AMC. Even some issues about AMC/VMC will be OK to be solved soon and pressure to get more transparency etc. are OK. Still, some of the posts here I read are really stupid, especially yours... anyway, good luck with your prints for kids

[pikeadz]

Golly Gee you must be right,

People will love to buy overpriced hardware from AM vs any of the new hardware competitors out there. (KnCMiner, Avalon Chips, BitFury)

If you have access to a foundry that can produce working chips (Meaning after the NRE costs are done) then you can easily be competitive since you can roll out more hashrate anytime you feel the need to order more chips.

I don't know what is so hard about the above to understand.

I didn't misunderstand anything, you simply missed the point of my post.  You were pointing out that AM would not run a Petahash themselves, because they would throttle themselves at 30-40% of the network.  This is absolutely irrelevant.  They are not going to let hardware sit around collecting dust, and will instead sell it as they did before.  As a shareholder, I am glad they are doing this.  Also, people may or may not overpay for it.  I trust that friedcat will price it more competitively if all the current vaporware companies you named start producing.  But yes, the petahash will still be out there in one form or another.  You are naive if you think it won't.

[Exocyst]

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.

Do you understand what trust system is, at all? "Risked BTC amount is money that the person could have stolen or did steal." Got it now? If I
think someone is a scammer or is helping scammer I have full right to express my opinion on that and warn unsuspecting people of proven or
potential scam. It is called damage prevention. You might be fine with everyone and everything until shits happen but that does not mean I or
anyone else must use the same approach.

As for my transactions and store, first thing you need to learn is to check person's past activity on this forum and look for evidence of scam
or attempted scam and second you need to learn how store works, e.g. who is sending you printed items and so on. Do your homework before
you address me or my store again and eventualy call me a shill or scammer, thanks.

It would be cool if you stop talking about me. I have stated my mission here. I'm not selling you anything here. This thread is not about me or
my store but AMC "project" so stay on topic. If you don't like what I post just ignore me just like I ignored loltard and few others so I can focus
on important matters here.

If no one risked coins with you or vice versa (ie no coins changed hands) and you placed trust feedback THEN you admittedly abused the trust system. Simple. Stop abusing the forum (and this thread).

[SoylentCreek]

Because watching the butt-hurt reaction of you this kind of idiots worth my time.

So you are acknowledging that you are here to troll, and nothing more?  Ingored.

[Flashman]

I wonder if there were really any idiots listen to Ken's "advice", sold their Asicminer shares and bought AMC?

Asicminer
price 3.2 -> 4.4
AMC
price 0.0025 -> 0.001

Asicminer
800-1000TH projected hashrate by the end of this year
AMC
11TH projected hashrate

Asicminer
100% of hardware sales goes to all shareholders
AMC
10% goes to AMC, 90% goes to VMC, Ken's pocket.

Asicminer
shares cannot by any means be diluted
AMC
shares will be diluted by 2.5 times after an year.(if AMC still survives at that time)

I wonder if any of you idiots actually read ANYTHING correctly

800-1000TH is what Friedcat projected the ENTIRE network to be at end of year, though at that point I don't believe he had considered anything from bitfury or KNC coming online. In view of that figure he was bringing AM up to 200TH .. he may be aiming a bit higher now if he is taking extra competition including AMC seriously, though if all AMCs hash this year is coming from avalon chips he may have had that factored (Knowing about how many chips would be out there, not specifically who would be using them.)

Anyway, AM has benefited from something of a "perfect storm" of setbacks from everyone else, which has caused a very unique business environment for it. This would lead share price through expectation based on past performance not to reflect the changing reality of the mining market, i.e. competition.

Therefore the expectation that AM is currently overvalued is valid. The logical thing to do would be to take profits, withdraw investment, from the overpriced entity and invest in one that is going to provide that competition. I think AM will only be worth half what it is long term. Meanwhile 2nd or 3rd large mining operations to come along, can also be worth about half what AM is now, but they're starting from fractions of that. So if you want your investments to drop by half, stick with AM, if you want them to be worth as much as half as AM from maybe a tenth or twentieth at this point in time, invest in a competitor.

[gramma]

I wonder if there were really any idiots listen to Ken's "advice", sold their Asicminer shares and bought AMC?

I assume you didn't so WTF are you posting in here for? There are enough people spamming this thread with useless shit.

Well, I sold one, plus a few TATs, and will continue to post here and anywhere else I damn well please until we start to get substantive answers from Ken to substantive questions.  We've got substantive answers from others, and those answers are troubling indeed.  I didn't listen to Ken's "advice" - I was in a mood to re-balance a bit.  That one share is not a substantial portion of my ASICminer holdings.  I admit I did not do as much due diligence as I should have done, and I will not make that mistake again.  I trusted that the exchange had done more due diligence than they had.  Learned another very important lesson there, too.  Doesn't mean I'm not pissed.

Dropping a twenty on the ground isn't going to bankrupt me, but it's annoying.  Having someone pickpocket that same $20, I'm pissed.

I'll eat these words if it turns out that I am wrong.  You have it in text here.  What we don't have in text is Ken's substantive reply to the corporate structure.  "It seemed easier" doesn't cut it. It doesn't address the concerns people have been expressing MULTIPLE TIMES regarding that structure.  And this being the official thread, no it is not reasonable to have to go haunt IRC channels to try to get an answer.  We're not interested in a quick one-ff from a chat session. We want true discourse.

And for those who wish to say "hold on, there's an FAQ coming", I point out that Ken only said it "should" (his word) be written today. That's not "will."  And after that, he says it will enter a review process that will also take time. Yeahhhhh.

"Redacted docs coming soon"  Yes, I have Photoshop too.  What needs to happen is the ability to confirm the legitimacy of those documents with the counterparties. Is that also coming?

Dumped a few more of my shares at a big loss.  Unfortunately, I still have some, I'm still a shareholder, and I'm not going anywhere.

[finlof]

So many excuses, greedy Ken is always greedy Ken.

as a business owner I always get pissed when anyone accuses me of being greedy because I am willing to innovate, create, employ, and do.  if you are such a fucking authority lysr, please make a better company and do something instead of bitching and saying what everyone else should be doing.

[lysr]

So many excuses, greedy Ken is always greedy Ken.

as a business owner I always get pissed when anyone accuses me of being greedy because I am willing to innovate, create, employ, and do.  if you are such a fucking authority lysr, please make a better company and do something instead of bitching and saying what everyone else should be doing.

Why do I have to listen to you?
I do whatever I please.
I enjoy watching all AMC sheep get burnt, just that simple.

[lysr]

Because watching the butt-hurt reaction of you this kind of idiots worth my time.

So you are acknowledging that you are here to troll, and nothing more?  Ingored.

You say as if I care
Feel free to do so if this makes you feel better after suffering all the loss from buying AMC!

[Flashman]

AMC / VMC is not qualified and experienced enought to design a chip of any sort, let alone next-gen Bitcoin ASIC miner.

You know, you'd actually come somewhere close to having a point for once if it wasn't stated here that Ken has employed eASIC to do the chip design.



BTW I can only presume you are so knowledgeable about your own business that if I give you a cotton seed and the seeds of a few pigment plants, you can turn them into a teeshirt by yourself.

[bigdude]

http://thegenesisblock.com/amc-announces-4-8-ths-bitcoin-miners-for-3000-btc/

Lol - guess who is in the comments, and guess what they say - Lol

[John818]

I wonder if there were really any idiots listen to Ken's "advice", sold their Asicminer shares and bought AMC?

I assume you didn't so WTF are you posting in here for? There are enough people spamming this thread with useless shit.

Well, I sold one, plus a few TATs, and will continue to post here and anywhere else I damn well please until we start to get substantive answers from Ken to substantive questions.  We've got substantive answers from others, and those answers are troubling indeed.  I didn't listen to Ken's "advice" - I was in a mood to re-balance a bit.  That one share is not a substantial portion of my ASICminer holdings.  I admit I did not do as much due diligence as I should have done, and I will not make that mistake again.  I trusted that the exchange had done more due diligence than they had.  Learned another very important lesson there, too.  Doesn't mean I'm not pissed.

Dropping a twenty on the ground isn't going to bankrupt me, but it's annoying.  Having someone pickpocket that same $20, I'm pissed.

I'll eat these words if it turns out that I am wrong.  You have it in text here.  What we don't have in text is Ken's substantive reply to the corporate structure.  "It seemed easier" doesn't cut it. It doesn't address the concerns people have been expressing MULTIPLE TIMES regarding that structure.  And this being the official thread, no it is not reasonable to have to go haunt IRC channels to try to get an answer.  We're not interested in a quick one-ff from a chat session. We want true discourse.

And for those who wish to say "hold on, there's an FAQ coming", I point out that Ken only said it "should" (his word) be written today. That's not "will."  And after that, he says it will enter a review process that will also take time. Yeahhhhh.

"Redacted docs coming soon"  Yes, I have Photoshop too.  What needs to happen is the ability to confirm the legitimacy of those documents with the counterparties. Is that also coming?

Dumped a few more of my shares at a big loss.  Unfortunately, I still have some, I'm still a shareholder, and I'm not going anywhere.

You were a bit silly to have purchased AMC shares in the first place given that the business structure has been public knowledge since day one.

You are being even more silly if you are selling now at a 'big loss'.