[AMC]-The Official Active Mining Cooperative Discussion

[ronaldlee0917]

Completely baffled by the movements on the share price.. here was me thinking it was based on comments in this thread, but clearly not haha.

Looks like a pump and dump.

[ChefBorjan]

Completely baffled by the movements on the share price.. here was me thinking it was based on comments in this thread, but clearly not haha.

Looks like a pump and dump.

Yup, someone dropped about 23 BTC and got 22 BTC out, but as picked up about 3500 AMC share. And for the rest of us, we are back to where we were before.

I actually tried to ride along with this one as I had a feeling we'd see another drop, but my ask never got filled. Oh well. I haven't lost anything so still happy.

Btw, what have we got to look forward to in the short term with AMC?

[ArcticWolf]

In the not too distant future AMC will become AM, and we will trade our AMC shares for AM shares.
Exciting times are on the horizon, Im holding these shares for a long time

Edit: Strange that the price is so low on Butfunder and yet so much higher on BTCTC

[wonker]

Will there be a possibility to trade AMC shares on bitfunder for AM shares on BTCTC?

[Streets 2.0]

Completely baffled by the movements on the share price.. here was me thinking it was based on comments in this thread, but clearly not haha.

Looks like a pump and dump.

Btw, what have we got to look forward to in the short term with AMC?

Well we are in exciting times.  First is the contract collaboration/clarification/rewrite that ken will be issuing hopefully sometime this week.  Second is everything will now be just AM, and we will be trading in our shares (those of us that purchased the AMC shares early) for higher valued AM shares on a 1:1 swap.  Thirdly, and this may come before, hashing power should increase with the delivery of 3 more Avalons (that alone will pump the AMC share price if they arrive prior to the AM swap).  And fourth, well since I am a positive thinker, we all profit!

I do not lack confidence, many others do not either.  On BTCT they are going for 0.001999, just a chance for cheaper shares.

400,000/25,000,000 = 0.016 * 4.5 =  0.072

I'm looking at this formula, 400,000 ASICMINER shares, 25 mil AM shares, ASICMINER is 1.6% share volume of AM, current value of ASICMINER shares is 4.5 (ish), 1.6% of the ASICMINER value is 0.072 per AM share.  This formula is based on AM being in the same ball park as ASICMINER, conservative adjustment down to 0.06 per share.  Probably ludicrous and way off the mark considering they are overvalued

[lewicki]

Dividend payment
The global Active Mining Corporation's income, including mining income, hardware sales via bitcoins, other cryptocoins and fiat transferred to bitcoins, will be paid to ActiveMining shareholders proportionally, when all manufacturing, maintenance, labor costs, R&D, and miscellaneous expenses are deducted. The first BTC0.0025/share dividends will only be paid to the first 10,000,000 AM shares sold, providing investors a priority in getting back 100% return of their investment.

Very shortly dividend payments will be increasing by a factor of 4. Then another 75% (Klondikes). This is a win win.

As a side note, the wording is left with the vague impression that only the shares sold so far will recieve dividends. With only 6 million shares sold at the moment, dividends split 40 million ways, has been reduced to 6M or 6.6x.

Adding 300GH to our 400 give the the payout another 75% payout.

[.00000139 + (.00000139*0.75)]*6.6 = .00001605/share per week if this deal goes through (and if my assumptions are correct).

Oh, and fuck this when our 20,000 chips come in.

[kslaughter]

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

ActiveMining: A Fresh Shart!

Version Final 7/8/13

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

Introduction
ActiveMining (AM) is a virtual identity totally owned by the Active Mining Corporation (Belize) that represents both itself and its profits. ActiveMining's business includes cryptocoin mining and sales of self-built ASIC devices through its wholly owned subsidiary Virtual Mining Corporation (VMC).

Currently, it is expected for interested ActiveMining's public investors to hold 10,000,000 AM shares (40% of the profits), while Active Mining Corporation owner(s) shall hold 15,000,000 AM shares (60% of the profits), for a total of 25,000,000 AM virtual shares that represent 100% of the global profits of ActiveMining.

The issuing of more AM shares will be allowed in the future, as a last resort, provided there is strong economic justification, mainly on the basis of covering emergent capital needs. Existing shareholders also get the first choice for buying new shares before they are sold on the open market. The volume of new shares shall be kept at a minimum as much as possible and the pricing of them should be such that the total value of all ActiveMining's assets (tangible and intangible) per AM share does not diminish, protecting shareholders as much as possible from future dilution of value.

Public investor's protection plan
The first 10,000,000 ActiveMining shares have the privilege of getting all profits until BTC0.0025/share is paid, starting from the day when dividends begin to be paid.

How to buy shares
AM shares will be sold on BitFunder and BTCT.CO and any other exchange, following asset approval or tendered by AMC shares. Existing Active Mining Cooperative (AMC) shareholders will be entitled to tender their shares for ActiveMining shares, on a 1:1 basis and are also covered in the public investor's protection plan.

Dividend payment
The global ActiveMining's income, including mining income, hardware sales via bitcoins, other cryptocoins and fiat transferred to bitcoins, will be paid to ActiveMining shareholders proportionally, when all manufacturing, maintenance, labor costs, R&D, growth and miscellaneous expenses are deducted. The first BTC0.0025/share dividends will only be paid to the first 10,000,000 AM shares, providing public investors a priority in getting back 100% return of their investment.

Our chips in development
Generation 1: Fast-Hash. 28nm. Each chip's rated frequency is 800 MHz at 1.15V. It translates to 16,000 MH/s because it does 20 hashes per cycle. Chip requires proper handling of heat and power supply. It is expected the chip can be overclocked to 1000 MHz @ 20,000 MH/s.

Our existing hardware assets from AMC liquidation

• 6 Avalon miners, currently running on BTC Guild under "Team AMC" for around 430 GH/s;
• An order of Avalon chips from steamboat's batch #1, for 68 Klondike-16 boards, rated at 68*16*282 = 307 GH/s;
• An order of 20,000 Avalon chips (end of May and beginging of June orders), for a combined hashrate of 20,000*282 = 5,640 GH/s.

In total, around 6,377 GH/s, expected to be fully operational in the middle of August.

Version Final 7/8/13

[kslaughter]

Dividend payment
The global Active Mining Corporation's income, including mining income, hardware sales via bitcoins, other cryptocoins and fiat transferred to bitcoins, will be paid to ActiveMining shareholders proportionally, when all manufacturing, maintenance, labor costs, R&D, and miscellaneous expenses are deducted. The first BTC0.0025/share dividends will only be paid to the first 10,000,000 AM shares sold, providing investors a priority in getting back 100% return of their investment.

Very shortly dividend payments will be increasing by a factor of 4. Then another 75% (Klondikes). This is a win win.

As a side note, the wording is left with the vague impression that only the shares sold so far will recieve dividends. With only 6 million shares sold at the moment, dividends split 40 million ways, has been reduced to 6M or 6.6x.

Adding 300GH to our 400 give the the payout another 75% payout.

[.00000139 + (.00000139*0.75)]*6.6 = .0001605/share If this deal goes through (and if my assumptions are correct).

Oh an fuck this when our 20,000 chips come in.

 

[Streets 2.0]

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

ActiveMining: A Fresh Shart!

Version Final 7/8/13

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

Introduction
ActiveMining (AM) is a virtual identity totally owned by the Active Mining Corporation (Belize) that represents both itself and its profits. ActiveMining's business includes cryptocoin mining and sales of self-built ASIC devices through its wholly owned subsidiary Virtual Mining Corporation (VMC).

Currently, it is expected for interested ActiveMining's public investors to hold 10,000,000 AM shares (40% of the profits), while Active Mining Corporation owner(s) shall hold 15,000,000 AM shares (60% of the profits), for a total of 25,000,000 AM virtual shares that represent 100% of the global profits of ActiveMining.

The issuing of more AM shares will be allowed in the future, as a last resort, provided there is strong economic justification, mainly on the basis of covering emergent capital needs. Existing shareholders also get the first choice for buying new shares before they are sold on the open market. The volume of new shares shall be kept at a minimum as much as possible and the pricing of them should be such that the total value of all ActiveMining's assets (tangible and intangible) per AM share does not diminish, protecting shareholders as much as possible from future dilution of value.

Public investor's protection plan
The first 10,000,000 ActiveMining shares have the privilege of getting all profits until BTC0.0025/share is paid, starting from the day when dividends begin to be paid.

How to buy shares
AM shares will be sold on BitFunder and BTCT.CO and any other exchange, following asset approval or tendered by AMC shares. Existing Active Mining Cooperative (AMC) shareholders will be entitled to tender their shares for ActiveMining shares, on a 1:1 basis and are also covered in the public investor's protection plan.

Dividend payment
The global ActiveMining's income, including mining income, hardware sales via bitcoins, other cryptocoins and fiat transferred to bitcoins, will be paid to ActiveMining shareholders proportionally, when all manufacturing, maintenance, labor costs, R&D, growth and miscellaneous expenses are deducted. The first BTC0.0025/share dividends will only be paid to the first 10,000,000 AM shares, providing public investors a priority in getting back 100% return of their investment.

Our chips in development
Generation 1: Fast-Hash. 28nm. Each chip's rated frequency is 800 MHz at 1.15V. It translates to 16,000 MH/s because it does 20 hashes per cycle. Chip requires proper handling of heat and power supply. It is expected the chip can be overclocked to 1000 MHz @ 20,000 MH/s.

Our existing hardware assets from AMC liquidation

• 6 Avalon miners, currently running on BTC Guild under "Team AMC" for around 430 GH/s;
• An order of Avalon chips from steamboat's batch #1, for 68 Klondike-16 boards, rated at 68*16*282 = 307 GH/s;
• An order of 20,000 Avalon chips (end of May and beginging of June orders), for a combined hashrate of 20,000*282 = 5,640 GH/s.

In total, around 6,377 GH/s, expected to be fully operational in the middle of August.

Version Final 7/8/13

I like it, not much language change from the final draft, just worded more elegantly.  I do have a question on the text I increased the size on above, specifically the term proportionally.  Does this mean that if there are unsold shares, the dividend payments will span across the unsold shares, or does this mean that only the shares that are purchased will receive dividend payout?  The formula will change quite drastically either way.  If there are 8 million shares sold and 2 million unsold, using the last dividend as an example, would the pay out be 2.78 BTC over the 8 million, or 2.78 BTC over the full 10 million?

[navitatl]

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

ActiveMining: A Fresh Shart!

Lol! Please leave this in the final contract.

[kslaughter]

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

ActiveMining: A Fresh Shart!

Version Final 7/8/13

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

Introduction
ActiveMining (AM) is a virtual identity totally owned by the Active Mining Corporation (Belize) that represents both itself and its profits. ActiveMining's business includes cryptocoin mining and sales of self-built ASIC devices through its wholly owned subsidiary Virtual Mining Corporation (VMC).

Currently, it is expected for interested ActiveMining's public investors to hold 10,000,000 AM shares (40% of the profits), while Active Mining Corporation owner(s) shall hold 15,000,000 AM shares (60% of the profits), for a total of 25,000,000 AM virtual shares that represent 100% of the global profits of ActiveMining.

The issuing of more AM shares will be allowed in the future, as a last resort, provided there is strong economic justification, mainly on the basis of covering emergent capital needs. Existing shareholders also get the first choice for buying new shares before they are sold on the open market. The volume of new shares shall be kept at a minimum as much as possible and the pricing of them should be such that the total value of all ActiveMining's assets (tangible and intangible) per AM share does not diminish, protecting shareholders as much as possible from future dilution of value.

Public investor's protection plan
The first 10,000,000 ActiveMining shares have the privilege of getting all profits until BTC0.0025/share is paid, starting from the day when dividends begin to be paid.

How to buy shares
AM shares will be sold on BitFunder and BTCT.CO and any other exchange, following asset approval or tendered by AMC shares. Existing Active Mining Cooperative (AMC) shareholders will be entitled to tender their shares for ActiveMining shares, on a 1:1 basis and are also covered in the public investor's protection plan.

Dividend payment
The global ActiveMining's income, including mining income, hardware sales via bitcoins, other cryptocoins and fiat transferred to bitcoins, will be paid to ActiveMining shareholders proportionally, when all manufacturing, maintenance, labor costs, R&D, growth and miscellaneous expenses are deducted. The first BTC0.0025/share dividends will only be paid to the first 10,000,000 AM shares, providing public investors a priority in getting back 100% return of their investment.

Our chips in development
Generation 1: Fast-Hash. 28nm. Each chip's rated frequency is 800 MHz at 1.15V. It translates to 16,000 MH/s because it does 20 hashes per cycle. Chip requires proper handling of heat and power supply. It is expected the chip can be overclocked to 1000 MHz @ 20,000 MH/s.

Our existing hardware assets from AMC liquidation

• 6 Avalon miners, currently running on BTC Guild under "Team AMC" for around 430 GH/s;
• An order of Avalon chips from steamboat's batch #1, for 68 Klondike-16 boards, rated at 68*16*282 = 307 GH/s;
• An order of 20,000 Avalon chips (end of May and beginging of June orders), for a combined hashrate of 20,000*282 = 5,640 GH/s.

In total, around 6,377 GH/s, expected to be fully operational in the middle of August.

Version Final 7/8/13

I like it, not much language change from the final draft, just worded more elegantly.  I do have a question on the text I increased the size on above, specifically the term proportionally.  Does this mean that if there are unsold shares, the dividend payments will span across the unsold shares, or does this mean that only the shares that are purchased will receive dividend payout?  The formula will change quite drastically either way.  If there are 8 million shares sold and 2 million unsold, using the last dividend as an example, would the pay out be 2.78 BTC over the 8 million, or 2.78 BTC over the full 10 million?

Well, since bitfunder does it over all the issued shares it will be over 10 million, however the dividends from the unsold shares will go into the pot for the next weeks dividends.

[Streets 2.0]

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

ActiveMining: A Fresh Shart!

Version Final 7/8/13

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

Introduction
ActiveMining (AM) is a virtual identity totally owned by the Active Mining Corporation (Belize) that represents both itself and its profits. ActiveMining's business includes cryptocoin mining and sales of self-built ASIC devices through its wholly owned subsidiary Virtual Mining Corporation (VMC).

Currently, it is expected for interested ActiveMining's public investors to hold 10,000,000 AM shares (40% of the profits), while Active Mining Corporation owner(s) shall hold 15,000,000 AM shares (60% of the profits), for a total of 25,000,000 AM virtual shares that represent 100% of the global profits of ActiveMining.

The issuing of more AM shares will be allowed in the future, as a last resort, provided there is strong economic justification, mainly on the basis of covering emergent capital needs. Existing shareholders also get the first choice for buying new shares before they are sold on the open market. The volume of new shares shall be kept at a minimum as much as possible and the pricing of them should be such that the total value of all ActiveMining's assets (tangible and intangible) per AM share does not diminish, protecting shareholders as much as possible from future dilution of value.

Public investor's protection plan
The first 10,000,000 ActiveMining shares have the privilege of getting all profits until BTC0.0025/share is paid, starting from the day when dividends begin to be paid.

How to buy shares
AM shares will be sold on BitFunder and BTCT.CO and any other exchange, following asset approval or tendered by AMC shares. Existing Active Mining Cooperative (AMC) shareholders will be entitled to tender their shares for ActiveMining shares, on a 1:1 basis and are also covered in the public investor's protection plan.

Dividend payment
The global ActiveMining's income, including mining income, hardware sales via bitcoins, other cryptocoins and fiat transferred to bitcoins, will be paid to ActiveMining shareholders proportionally, when all manufacturing, maintenance, labor costs, R&D, growth and miscellaneous expenses are deducted. The first BTC0.0025/share dividends will only be paid to the first 10,000,000 AM shares, providing public investors a priority in getting back 100% return of their investment.

Our chips in development
Generation 1: Fast-Hash. 28nm. Each chip's rated frequency is 800 MHz at 1.15V. It translates to 16,000 MH/s because it does 20 hashes per cycle. Chip requires proper handling of heat and power supply. It is expected the chip can be overclocked to 1000 MHz @ 20,000 MH/s.

Our existing hardware assets from AMC liquidation

• 6 Avalon miners, currently running on BTC Guild under "Team AMC" for around 430 GH/s;
• An order of Avalon chips from steamboat's batch #1, for 68 Klondike-16 boards, rated at 68*16*282 = 307 GH/s;
• An order of 20,000 Avalon chips (end of May and beginging of June orders), for a combined hashrate of 20,000*282 = 5,640 GH/s.

In total, around 6,377 GH/s, expected to be fully operational in the middle of August.

Version Final 7/8/13

I like it, not much language change from the final draft, just worded more elegantly.  I do have a question on the text I increased the size on above, specifically the term proportionally.  Does this mean that if there are unsold shares, the dividend payments will span across the unsold shares, or does this mean that only the shares that are purchased will receive dividend payout?  The formula will change quite drastically either way.  If there are 8 million shares sold and 2 million unsold, using the last dividend as an example, would the pay out be 2.78 BTC over the 8 million, or 2.78 BTC over the full 10 million?

Well, since bitfunder does it over all the issued shares it will be over 10 million, however the dividends from the unsold shares will go into the pot for the next weeks dividends.

Oh that is just perfect!  Should add that language to the contract??  maybe??  LOL doesn't matter to me, but I love the sound of that

FWIW, ButFunder sucks, how could they not allow for that option to be made by the security issuer?  If I opened a security with 10 billion shares but sold 1000, it would have to go across all 10 billion shares... just more silly shenanigans from ButFunder

[navitatl]

I'd love to have the option of off-exchange shares when the 1-for-1 swap is implemented. I'm not sure what the logistics are like for that, or if it'd be more trouble than it's worth.

[bobdude17]

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

ActiveMining: A Fresh Shart!

Lol! Please leave this in the final contract.

Too funny.

Please get that changed, it's so painful.

[Stuartuk]

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

ActiveMining: A Fresh Shart!

Version Final 7/8/13

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

This contract is a vast improvement on the original concept and it presents any potential shareholder with a clear company profile and set of objectives. I'm happy for you to proceed as planned.

btw would it be an idea to have another poll eg - 'Are you happy for the restructuring of AMC to proceed as planned?'. Anything over 51% YES I think would be considered unanimous.

[Vbs]

This contract is a vast improvement on the original concept and it presents any potential shareholder with a clear company profile and set of objectives. I'm happy for you to proceed as planned.

btw would it be an idea to have another poll eg - 'Are you happy for the restructuring of AMC to proceed as planned?'. Anything over 51% YES I think would be considered unanimous.

When AMC shareholders start to tender their shares for AM shares, you have your answer to that!

[kslaughter]

I'd love to have the option of off-exchange shares when the 1-for-1 swap is implemented. I'm not sure what the logistics are like for that, or if it'd be more trouble than it's worth.

The 1-for-1 swap will be a transfer on the exchange.  It will be a manual process, so it will be very time consuming.

[FloatesMcgoates]

Only 25 million ActiveMining shares will be released, but over 40 million AMC shares are currently released. How can a 1 for 1 swap be achieved with these numbers?

[JimmyJazz]

I would like to swap my Bitfunder shares for the new shares being issued on bcto. As I don't trust Bitfunder anymore and its to much hassle funding your account. Will this be possible?

[SoylentCreek]

Only 25 million ActiveMining shares will be released, but over 40 million AMC shares are currently released. How can a 1 for 1 swap be achieved with these numbers?

So far, the last number I looked at said that there were only 6 million shares that had been sold.  In this case, a 1:1 swap is very much doable.