[AMC]-The Official Active Mining Cooperative Discussion

[lolstate]

This has to be the last desperate dash for cash from a very desperate man. What a coincidence that this came along just at the time the whole construct is being exposed for what it is. If anyone orders one of these machines from VMC they need their head examined. Actually scrub that - lolstate put your order in and let us know how it goes.

Nothing surprising here - hardware sales have been part of the plan from the start.

Lol, you are a funny guy steveioio, but tell me, why would I buy a machine at retail when I can buy cheap AMC shares right now for mining coins via hardware sold to AMC at cost?  

Edit: typo

[kslaughter]

Everyone has been asking the same questions over and over for the last several days, I dont know why but Ken decides to not answer any of the questions and even wants to have power to manipulate the thread

There was a point brought by DaT stating that if Ken did in fact have the money to purchase all required devices / R&D why is he raising more capital, there should not be a need to have walls of 5 million and 1.6 million if Ken already had all the money to purchase everything,

frankly unless you bought in at .0025 there isnt any reason to hold AMC shares til Ken can answer clearly everything directly and prove that he does in fact have the NDA with eAsic, to many questions and not enough answers

I already have the power,  however I do not use it, because I believe in free speech.  However some users of the thread were complaining about all the trash talk, so I decided to do a poll.  Just doing the poll caused some users of the thread to delete some of their post and clean up the thread some.  I have only removed two post in this thread due to explicit profanity being used.

[ajk]

I have nothing against you Ken, I hope that none of my posts are being taken personal in all seriousness,

I wouldnt call myself an investor simply because I havent been doing it long enough to justify calling it my career, I am just trying to do my best in figuring out if im putting my money in the right place, I would call the recent news as positive but I am still probably going to wait till I see something physical

there has been quite a mess in this thread and if you are in fact being sincere in your business plans/operations I do want the best to come of it simply from all the doubt that has been thrown your way,

Best of luck ill keep watching and will put in money when I have more information

[chsados]

Everyone has been asking the same questions over and over for the last several days, I dont know why but Ken decides to not answer any of the questions and even wants to have power to manipulate the thread

There was a point brought by DaT stating that if Ken did in fact have the money to purchase all required devices / R&D why is he raising more capital, there should not be a need to have walls of 5 million and 1.6 million if Ken already had all the money to purchase everything,

frankly unless you bought in at .0025 there isnt any reason to hold AMC shares til Ken can answer clearly everything directly and prove that he does in fact have the NDA with eAsic, to many questions and not enough answers

I already have the power,  however I do not use it, because I believe in free speech.  However some users of the thread were complaining about all the trash talk, so I decided to do a poll.  Just doing the poll caused some users of the thread to delete some of their post and clean up the thread some.  I have only removed two post in this thread due to explicit profanity being used.

More responses to pointless questions when there is a mound of extremely legitimate and pressing questions to be answered.  How's that FAQ coming along Ken?

[auto2nr1]

Yes, I understand some of the raised issues could have been better formulated in the original contract. My intention is not to rip off anyone, but to build value for AMC's shareholders. I am open to any thoughtful changes on how to proceed for making any necessary adjustments.

Thank you for the FAQ Ken but that hardly covers many of the issues raise. Now take some time and look through the countless number of pages from the last few days and make a QUESTIONS VS ANSWERS post for us. That is the least you can do for the investors and lets open up talks to the changes and how we can proceed to make those necessary adjustments. We look forward to your response within a reasonable amount of time. Hopefully by the end of the day.

[lolstate]

We have an addresses in Springfield, Missouri for VMC headquarters.

It's on a commercial industrial street surrounded by other general businesses. If there is anyone on this thread who could travel to this address and knock on the door, look for a VMC sign on the door (they need one for deliveries), ask around the neighboring business and watching comings and goings for the day then we could get an answer as to if this outfit is real or not.

I'm sure many of us here could donate some btc between us to pay travel costs to whoever is the closest. This is a large unit by the looks of it (though I can't yet locate it on googlemaps) so it must be where VMC are assembling their machines (if there are any).

Any takers? You shouldn't need back up (though it always helps) as this is a busy commercial unit street.

Yes, this is a good idea, we don't have a sign yet, as we are still setting up.  Just received an order of cases and power supplies last week.  So we are getting there, just installed a security system also.

I note steveioio has dropped the pretence that Ken and AMC/VMC is a scam. Everyone take a look at 'The coming flash crash in AMC' thread here:

https://bitcointalk.org/index.php?topic=245713.0

There is no smoking gun, but there are hints a better thread title would have been: 'Let's instigate a flash crash in AMC for a quick buck'

I fully expect steveioio and his cohorts will/have been buying up cheap AMC shares and will be cheering on a dramatic price recovery in the days ahead. So, if you are currently an AMC share holder, keep your wits sharp. It seems steveioio and his pals like to take the weaker hands for a ride, ensuring they are on the other side of the trade.

[Vbs]

More responses to pointless questions when there is a mound of extremely legitimate and pressing questions to be answered.  How's that FAQ coming along Ken?

You just missed it by a page.

Also on the 1st page: https://bitcointalk.org/index.php?topic=158806.msg1687176#msg1687176

[4ju5tice]

Just want to say that I gave Ken a call last night using the number on btctc. We talked for over half an hour and he answered some questions I had as to the validity of the company. I never had any sense of a scam or fraudulent actions. Ken seems like a nice and friendly guy and I actually repurchased some shares that I had previously sold. Ken even said that he purchased some for his personal account. I know that you all might not believe me, I haven't built up a reputation on these forums at all. But I encourage you to give Ken a call yourself if you are doubting the company. I think that Ken is onto something big and with the determination that he has I think it will pay off to his investors. And yeah, he'll make a killing from it all, but he is the one doing all the work after all.

Any investment has its risks. But I'm confident that Ken is real and working hard towards something big. Don't believe me? Give Ken a call.

[lewicki]

More responses to pointless questions when there is a mound of extremely legitimate and pressing questions to be answered.  How's that FAQ coming along Ken?

You just missed it by a page.

At this point, they dont even read other people's posts. We are beyond the point of asking to do so. I work for a living and don't have the time or inclination to be audience to this drivel.

[John818]

So the FAQ is out, can we now give Ken some space so he can focus on making this company a success?

[funkymunky]

I'll quote this as undoubtedly people will skip past your FAQ in their haste to post up more negative comments.


However; Thank you Ken.

I look forward to being a part of the this as a share holder.
I only wish I still had some BTC left to invest some more.

Good luck

[AMC] Hardware discussion and F.A.Q.

So, what do shares represent? Ownership?
Shares do not represent ownership, they are "solely a distribution mechanism for rights to profits", and used as a means to liquidation.

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.

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.

Wait a minute... I'm not "owning" a part of AMC, just a piece of the "profits"
Welcome to the bitcoin stock exchange game. Learn the risks, and stay, or get out. Please read https://bitcointalk.org/index.php?topic=245713.msg2616979#msg2616979

So, shares represent a part of profits then. How are they distributed?
Until at least May 2014, on the initial 40M, a minimum of 20M are retained for growth and expansion and a maximum of 20M can be sold to investors.
In May 2014, or when 0.0005 is payed by share, whichever happens later, an extra 60M are created, for the final total of 100M. On these remaining 60M, a minimum of 20M are retained for growth and expansion and a maximum of 40M can be sold to investors, with a 40M being retained by AMC/Ken.

20,000,000 shares will be retained by AMC to maintain a growth and expansion fund.
As of the time of this writing, up to 40,000,000 will be released over time to the public on a varying time scale as capital is required to complete the project. Any remaining shares not included in the IPO are owned/maintained/controlled by AMC. These shares will be used at the issuers discretion for any uses deemed fit. These uses are not limited to, but may include employment.

So, I heard I am earning a lot from AMC right now, by bagging the dividends from all the unsold shares out of the 40M?
Wrong. The contract specifies that all dividends from issued shares still on AMC's hands are retained by the growth and expansion fund (the contract was originally written using correct terminology, but BF considers all shares "issued").

Dividends paid on unissued shares after the early-adopter phase will be retained by AMC and added to AMC's growth and expansion fund above until the shares are issued.

The first time I get a piece of the pie will be after a year of work (May 2014), when the rest of the 60M are issued. At that time, more 20M can be sold to investors, and I retain the remaining 40M.

I've read a lot of announcements, but have yet to see real documents. Can you please provide some?
Engineering Firm quote for Avalon machines: http://axs.net/AMC/SB-Prototype-Quote.jpg
eASIC NDA: http://axs.net/AMC/eAsic-NDA0001.jpg and http://axs.net/AMC/eAsic-NDA0002.jpg


So, how will the division between AMC and VMC be implemented, in respect to chip/machine sales?
Roughy, AMC takes care of the chips, VMC takes care of the machines:
- AMC develops the chip, pays the chip's NRE and sells the chip in bulk to customers (using VMC as intermediary).
- VMC uses AMC's chip (or any other chips) and builds bitcoin miners, paying a royalty cost to AMC whenever its IP is used.

Chip sales: AMC holds IP rights on the Fast-Hash-ONE chips, so AMC contracts with VMC the following services: (a) the representation services to negotiate chip production with eASIC and (b) the re-selling of AMC's chips in bulk. AMC also guarantees chip exclusivity to VMC, so that AMC won't negotiate a chip supply contract to any other bitcoin systems manufacturer. AMC gets 70% back from the profits on the sale of bulk chips, while VMC gets 30%. All of VMC's expenses, including representation, chip stock management and re-shipping expenses to final customers are taken from their 30% profit.

System sales: AMC also allows VMC to buy chips directly from eASIC at the lowest cost, for the manufacturing of bitcoin mining systems. On every sale of these systems or parts of it that contain AMC chips or IP, AMC receives a 10% royalty fee from the total gross sales revenue. Example: if a customer purchases a system for ฿100, AMC receives ฿10, whatever the profit margins for VMC are.

[Alphi]

I was looking at the AMC and VMC website at the pictures of the ASIC based miner they have displayed there.
looking closer I thought it was odd that the device had a DVD drive as ASIC mining rigs typically do not need a full blown OS and thus no need for a DVD drive.

anyways I did some digging and then found this picture of an Azken system AZServer which is an 8 way 8 Nvidia GPU Powered rack mount server.




which looks Identical to the FastHash mining rig on the VMC website.




I invite people do draw their own conclusions and ken to provide an explanation.

PS Sorry if this has already been pointed out.. I didnt read the entire thread end to end just most of the last few days of posts.

not trying to pass judgement here just doing my DD..

[steveioio]

We have an addresses in Springfield, Missouri for VMC headquarters.

It's on a commercial industrial street surrounded by other general businesses. If there is anyone on this thread who could travel to this address and knock on the door, look for a VMC sign on the door (they need one for deliveries), ask around the neighboring business and watching comings and goings for the day then we could get an answer as to if this outfit is real or not.

I'm sure many of us here could donate some btc between us to pay travel costs to whoever is the closest. This is a large unit by the looks of it (though I can't yet locate it on googlemaps) so it must be where VMC are assembling their machines (if there are any).

Any takers? You shouldn't need back up (though it always helps) as this is a busy commercial unit street.

Yes, this is a good idea, we don't have a sign yet, as we are still setting up.  Just received an order of cases and power supplies last week.  So we are getting there, just installed a security system also.

I note steveioio has dropped the pretence that Ken and AMC/VMC is a scam. Everyone take a look at 'The coming flash crash in AMC' thread here:

https://bitcointalk.org/index.php?topic=245713.0

There is no smoking gun, but there are hints a better thread title would haven been: 'Let's instigate a flash crash in AMC for a quick buck'

I fully expect steveioio and his cohorts will/have been buying up cheap AMC shares and will be cheering on a dramatic price recovery in the days ahead. So, if you are currently an AMC share holder, keep your wits sharp. It seems steveioio and his pals like to take the weaker hands for a ride, ensuring they are on the other side of the trade.

I can give your the login details to my bit funder account if you like and you can see for yourself that I have sold all my AMC shares. That's hard evidence right there more than Ken has supplied in his time on this thread.

[Exocyst]

I was looking at the AMC and VMC website at the pictures of the ASIC based miner they have displayed there.
looking closer I thought it was odd that the device had a DVD drive as ASIC mining rigs typically do not need a full blown OS and thus no need for a DVD drive.

anyways I did some digging and then found this picture of an Azken system AZServer which is an 8 way 8 Nvidia GPU Powered rack mount server.



which looks Identical to the FastHash mining rig on the VMC website.



I invite people do draw their own conclusions and ken to provide an explanation.

PS Sorry if this has already been pointed out.. I didnt read the entire thread end to end just most of the last few days of posts.

not trying to pass judgement here just doing my DD..

I think he replied to this already, those are just the cases I think he is using, they come with the DVD slot, obviously it doesn't need to be used but it would be cheaper than making a custom case.

This has been covered already—50 pages ago. Due Diligence might also included reading Ken's posts on this thread....

[ajk]

Just want to say that I gave Ken a call last night using the number on btctc. We talked for over half an hour and he answered some questions I had as to the validity of the company. I never had any sense of a scam or fraudulent actions. Ken seems like a nice and friendly guy and I actually repurchased some shares that I had previously sold. Ken even said that he purchased some for his personal account. I know that you all might not believe me, I haven't built up a reputation on these forums at all. But I encourage you to give Ken a call yourself if you are doubting the company. I think that Ken is onto something big and with the determination that he has I think it will pay off to his investors. And yeah, he'll make a killing from it all, but he is the one doing all the work after all.

Any investment has its risks. But I'm confident that Ken is real and working hard towards something big. Don't believe me? Give Ken a call.

Ok how is this good news?

I was pretty nervous of the fact that Ken was manipulating the price Up which is pretty much what this comment admits,

Ken cannot BUY SELL or DO ANYTHING! with shares without prior announcement to the community, at least to my knowledge  

[Alphi]

[/quote]

I think he replied to this already, those are just the cases I think he is using, they come with the DVD slot, obviously it doesn't need to be used but it would be cheaper than making a custom case.
[/quote]

http://www.virtualminingcorp.com/fast-hash1_2T.html


the caption clearly reads "Fast-Hash Prototype!"

yet all of the pictures are clearly stock images of the Azken server and one other server.. they even show the PC motherboard and installed DVD drive..

[ChefBorjan]

At least the FAQ is on the front page.. it will still likely get drowned out though.  

I still think an FAQ part two might be in order, or at least greater transparency on a few of the 'hard evidence' issues, but I welcome this first step anyway.

[lolstate]

We have an addresses in Springfield, Missouri for VMC headquarters.

It's on a commercial industrial street surrounded by other general businesses. If there is anyone on this thread who could travel to this address and knock on the door, look for a VMC sign on the door (they need one for deliveries), ask around the neighboring business and watching comings and goings for the day then we could get an answer as to if this outfit is real or not.

I'm sure many of us here could donate some btc between us to pay travel costs to whoever is the closest. This is a large unit by the looks of it (though I can't yet locate it on googlemaps) so it must be where VMC are assembling their machines (if there are any).

Any takers? You shouldn't need back up (though it always helps) as this is a busy commercial unit street.

Yes, this is a good idea, we don't have a sign yet, as we are still setting up.  Just received an order of cases and power supplies last week.  So we are getting there, just installed a security system also.

I note steveioio has dropped the pretence that Ken and AMC/VMC is a scam. Everyone take a look at 'The coming flash crash in AMC' thread here:

https://bitcointalk.org/index.php?topic=245713.0

There is no smoking gun, but there are hints a better thread title would haven been: 'Let's instigate a flash crash in AMC for a quick buck'

I fully expect steveioio and his cohorts will/have been buying up cheap AMC shares and will be cheering on a dramatic price recovery in the days ahead. So, if you are currently an AMC share holder, keep your wits sharp. It seems steveioio and his pals like to take the weaker hands for a ride, ensuring they are on the other side of the trade.

I can give your the login details to my bit funder account if you like and you can see for yourself that I have sold all my AMC shares. That's hard evidence right there more than Ken has supplied in his time on this thread.

What kind of nutter would give me his login details to his trading account? Anyways, what would it prove if I took a look? There are lots of ways to trade and for all I know you have private options written with your pals.

Seriously, steveioio, here's an offer: let's put all this crap behind us and look forward to a bright future. Your idea for a crowd-sourced visit to Ken's new establishment is a good one. Folks, who lives nearest?

[Vbs]

At least the FAQ is on the front page.. it will still likely get drowned out though.  

I still think an FAQ part two might be in order, or at least greater transparency on a few of the 'hard evidence' issues, but I welcome this first step anyway.

Yes, unfortunately for some people even with the most "hard evidence" Ken delivers, it's not enough. It will never be enough, since they have already chosen what they want to believe.

[ChefBorjan]

I agree, it should not be hard to conjure up the funds for a trip/petrol money if someone lives close by. I can put a few satoshis into this.