[AMC]-The Official Active Mining Cooperative Discussion

[Streets 2.0]

I'm not hot on the abbreviation being the same. I think if you really believe in yourself, be you a company or whatever, you don't have to piggyback on the success of others. Do your own thing and let the people come to you for your own merits.

But hey, its a minor thing I think in the overall scheme of things.

ASICminer is clearly, and without a doubt labeled ASICMINER on BTCT.co, BF, and Havelock, as it is referred to as a general forum term as AM, simply because there has been nothing else within the realm of it.  Taking into account that we want to be the organization that directly competes with ASICMINER, and Friedcat has not been quiet when it comes to ASICMINER wanting and needing competition to be able to continue to sell and deploy at high volume, then the abbreviation of AM seems EXTREMELY strategic and proper.  

They are not abbreviated AM, its just used lazily on this forum, and will always require clarification because people are lazy (brings up both names).  Abbreviating ourselves with the AM moniker, from a viewers stand point, will make us stand out as that second player by name, but also because we carry the competing hashrate.  The only reason I decided to get into AMC is because AMC was a possible 'The' next player in mining if Ken played his cards as he had planned.  Bump in the road, whether self created or not, started us with a not so good hand, but it has played out nicely because Ken has decided that he wants to open up to his shareholders and work at this collectively.  

AM works
 

[lolstate]

PM can stand for Post Meridiem and it can also stand for Prime Minister. 

It is actually AMC (us) and AM (them) or am I mistaken?

This is why we should just call ourselves one name. We are AMC (Cooperative). Within AMC there is a division called ActiveMining (AM). Right now the AMC shareholders are investors for Active Mining Cooperative. Once this new offering is accepted by majority of the shareholders we will be able to swap the AMC (Cooperative) shares for AMC (Corporation) incorporated in Belize. We will become 40% shareholders in the AMC (Corporation) venture. I hope this clears up any confusion.

How about we go with the names for the company/departments/divisions in the new prospectus, but we all agree to informally refer to the complete 'entity' as... what? 'AM'? 'Active Mining'?, 'Ken's Club'?. We can really chose what we want, it then becomes convention, the understanding being the internal structure of this entity is a bit more nuanced, just like it is with many other companies.

[ArcticWolf]

I'm not hot on the abbreviation being the same. I think if you really believe in yourself, be you a company or whatever, you don't have to piggyback on the success of others. Do your own thing and let the people come to you for your own merits.

But hey, its a minor thing I think in the overall scheme of things.

ASICminer is clearly, and without a doubt labeled ASICMINER on BTCT.co, BF, and Havelock, as it is referred to as a general forum term as AM, simply because there has been nothing else within the realm of it.  Taking into account that we want to be the organization that directly competes with ASICMINER, and Friedcat has not been quiet when it comes to ASICMINER wanting and needing competition to be able to continue to sell and deploy at high volume, then the abbreviation of AM seems EXTREMELY strategic and proper.  

They are not abbreviated AM, its just used lazily on this forum, and will always require clarification because people are lazy (brings up both names).  Abbreviating ourselves with the AM moniker, from a viewers stand point, will make us stand out as that second player by name, but also because we carry the competing hashrate.  The only reason I decided to get into AMC is because AMC was a possible 'The' next player in mining if Ken played his cards as he had planned.  Bump in the road, whether self created or not, started us with a not so good hand, but it has played out nicely because Ken has decided that he wants to open up to his shareholders and work at this collectively.  

AM works
 

This 100%

[lolstate]

I'm not hot on the abbreviation being the same. I think if you really believe in yourself, be you a company or whatever, you don't have to piggyback on the success of others. Do your own thing and let the people come to you for your own merits.

But hey, its a minor thing I think in the overall scheme of things.

ASICminer is clearly, and without a doubt labeled ASICMINER on BTCT.co, BF, and Havelock, as it is referred to as a general forum term as AM, simply because there has been nothing else within the realm of it.  Taking into account that we want to be the organization that directly competes with ASICMINER, and Friedcat has not been quiet when it comes to ASICMINER wanting and needing competition to be able to continue to sell and deploy at high volume, then the abbreviation of AM seems EXTREMELY strategic and proper.  

They are not abbreviated AM, its just used lazily on this forum, and will always require clarification because people are lazy (brings up both names).  Abbreviating ourselves with the AM moniker, from a viewers stand point, will make us stand out as that second player by name, but also because we carry the competing hashrate.  The only reason I decided to get into AMC is because AMC was a possible 'The' next player in mining if Ken played his cards as he had planned.  Bump in the road, whether self created or not, started us with a not so good hand, but it has played out nicely because Ken has decided that he wants to open up to his shareholders and work at this collectively.  

AM works
 

This 100%

Me too! 

[superduh]

I'm not hot on the abbreviation being the same. I think if you really believe in yourself, be you a company or whatever, you don't have to piggyback on the success of others. Do your own thing and let the people come to you for your own merits.

But hey, its a minor thing I think in the overall scheme of things.

I see where you're coming from, but this is business. Let's not forget the scale of our ambition here, which is to build the biggest bitcoin mining farm on the planet.

So, I say, 'ASICMiner, lock and load. We're coming for your coins!'

L-O_L , you made me laugh hard

btw, have fun guys trying to sort out "amc" vmc" and other useless crap created by ken to no benefit for investors

[lolstate]

I'm not hot on the abbreviation being the same. I think if you really believe in yourself, be you a company or whatever, you don't have to piggyback on the success of others. Do your own thing and let the people come to you for your own merits.

But hey, its a minor thing I think in the overall scheme of things.

I see where you're coming from, but this is business. Let's not forget the scale of our ambition here, which is to build the biggest bitcoin mining farm on the planet.

So, I say, 'ASICMiner, lock and load. We're coming for your coins!'

L-O_L , you made me laugh hard

btw, have fun guys trying to sort out "amc" vmc" and other useless crap created by ken to no benefit for investors

Lock and load guys, trolls r coming!

[VolanicEruptor]

Wait, what does L-O_L mean? 

[lolstate]

Wait, what does L-O_L mean? 

I think the trailing ' ,' may be significant. However, could be this guy is out of our intellectual league, as in off-planet, so we might not be worthy of understanding. 

[kslaughter]

Yes, With the AM shares investors will have 40% of the profits were that only have 10% now, so in that respect it is a good deal.  On top of that they will have a new company that sales hardware.  AMC (Belize) owns everything, VMC is just used to keep all of the manufacturing in one place, all of the profits from VMC will go to AMC which Investor who hold the 10 Million shares get 100% of profit until the total dividends paid is equal to or greater than .0025 BTC.  AMC will be sold or liquidated when the time comes.  First of all, before that happens 9 Million shares will have to be tendered to AMC (Belize) before the merger can go forward.  So, 90% of shareholders in AMC (Cooperative) will have to agree to the merger before it will happen.

Got it. So with AMC (Belize) owning everything, the 10m AM public shares will account for 40% of AMC (Belize). All profits (100%) from VMC manufacturing & sales will go towards AMC (Belize). All profits (100%) from the mining operation will also go towards AMC (Belize). Once all profits are funneled into AMC (Belize) the investors will get 40% (10m shares) of those profits for and management will get 60% (15m shares) in the form of weekly dividends.

By having AMC (Cooperative) sold or liquidated it will clear up any confusions or headaches for us all. I hope this can happen sooner than later. Also how would you go about voting rights for the shareholders? How would you get appoint the board of directors? Can you appoint board of directions by the number of shares owned? If a shareholder has a significant amount of stake within the company it would be a fair way to appoint those directors to help make major decisions. I look forward to some more details in regards to that now that it seems as this entity issue has been sorted out.

None of that is in the contract/offering to keep it simple.  However, I would do what was in the really complex offering after this is all worked out.

[lolstate]

Yes, With the AM shares investors will have 40% of the profits were that only have 10% now, so in that respect it is a good deal.  On top of that they will have a new company that sales hardware.  AMC (Belize) owns everything, VMC is just used to keep all of the manufacturing in one place, all of the profits from VMC will go to AMC which Investor who hold the 10 Million shares get 100% of profit until the total dividends paid is equal to or greater than .0025 BTC.  AMC will be sold or liquidated when the time comes.  First of all, before that happens 9 Million shares will have to be tendered to AMC (Belize) before the merger can go forward.  So, 90% of shareholders in AMC (Cooperative) will have to agree to the merger before it will happen.

Got it. So with AMC (Belize) owning everything, the 10m AM public shares will account for 40% of AMC (Belize). All profits (100%) from VMC manufacturing & sales will go towards AMC (Belize). All profits (100%) from the mining operation will also go towards AMC (Belize). Once all profits are funneled into AMC (Belize) the investors will get 40% (10m shares) of those profits for and management will get 60% (15m shares) in the form of weekly dividends.

By having AMC (Cooperative) sold or liquidated it will clear up any confusions or headaches for us all. I hope this can happen sooner than later. Also how would you go about voting rights for the shareholders? How would you get appoint the board of directors? Can you appoint board of directions by the number of shares owned? If a shareholder has a significant amount of stake within the company it would be a fair way to appoint those directors to help make major decisions. I look forward to some more details in regards to that now that it seems as this entity issue has been sorted out.

None of that is in the contract/offering to keep it simple.  However, I would do what was in the really complex offering after this is all worked out.

Yep, this is my expectation. We could go on forever here asking questions/refining points. Everyone who isn't happy with the the ground work so far please say so now. Otherwise, let's allow Ken to present the final, detailed draft - which we can have amended if required.

[ArcticWolf]

Yep, Im ready for the final draft of the full contract, lets get it looked over and get the process started

[kslaughter]

Yep, Im ready for the final draft of the full contract, lets get it looked over and get the process started

This is the full contract to keep it simple.  However, if the community wants more details added, I can do that. 

[John818]

KISS is an acronym for "Keep it simple, stupid" as a design principle noted by the U.S. Navy in 1960.[1][2] The KISS principle states that most systems work best if they are kept simple rather than made complex; therefore simplicity should be a key goal in design and unnecessary complexity should be avoided. The phrase has been associated with aircraft engineer Kelly Johnson (1910–1990).[3] The term "KISS principle" was in popular use by 1970.[4] Variations on the phrase include "keep it stupid simple", "keep it short and simple", "keep it simple sir", "keep it super simple", "keep it simple or be stupid", "keep it simple and stupid", "keep it simple and straightforward", "keep it simple and safe", "Keep it simple student", "keep it simple, silly", "keep it simple and sincere" or "keep it simple and secular."[5][6]

Let's have this business done and allow Ken to crack on. 

[lolstate]

Yep, Im ready for the final draft of the full contract, lets get it looked over and get the process started

This is the full contract to keep it simple.  However, if the community wants more details added, I can do that. 

Wow, I'm digging your style.

Ok, I'm happy with what I have seen. If anyone wants modifications, now is the time to say. Please be aware that it isn't 'proper' to have long, complex contracts just because 'that's the way they are supposed to be'. It doesn't really benefit anyone other than lawyers, so let's keep it as simple as possible!   If we can wrap this up in fewer words, it benefits all of us.  

[ArcticWolf]

Im happy with that as the contract, the simpler the better. You could possibly make a public google doc with with the additional stuff (details on the deal with easic, the fast hash series stuff and current mining details etc) later on, but the contract itself is great.

[WildFire.ca]

My understanding is that VMC will just be an internal department of the new AM - essentially the same as a company that has a sales department and a manufacturing department. Keeping this department called VMC allows all the existing contracts with third parties that were signed as VMC to still be valid. Having to go back and redo all of those contracts would delay production IMO

I also think that this is why ken is keeping VMC around.


It was a bit of a bumpy road but I am happy with this current contract.

[bigdude]

Latest version looks good to go.

+1 for support on that.

[bigdude]

Two questions:

1. How many shares are already issued for AMC? ie. how many AMC shares already owned by investors?

2. With the new AM structure, where 1:1 swap of shares will take place - how many shares will be left over to release to raise more capital?

My concern here, is what if more $$ is needed to get the new hardware online, but there are no more shares available to issue to raise capital? What is the plan there?

[funkymunky]

I am very happy with the latest and simplified contract!

[Vbs]

Two questions:

1. How many shares are already issued for AMC? ie. how many AMC shares already owned by investors?

2. With the new AM structure, where 1:1 swap of shares will take place - how many shares will be left over to release to raise more capital?

My concern here, is what if more $$ is needed to get the new hardware online, but there are no more shares available to issue to raise capital? What is the plan there?

If more $$ needs to be raised, there is an open door left for creating more shares in the case all other options are exausted, so that AM never gets in a deadlock situation unable to move forward.