[AMC]-The Official Active Mining Cooperative Discussion

[lewicki]

"There are plenty of shares left as of this writing.  You can purchase the shares on bitfunder.com asset ActiveMining or you can purchase AMC shares on bitfunder and tender them or you can purchase AMC-PT on BTC-TC and tender them."

Got it, thanks. I see that share price is considerably cheaper on BitFunder, maybe i should move funds there (and to diversify) instead of BTCT. Just one more newbie question - at the registration page on BitFunder there is a request to input BTC address. "(Note: This address will be posted in public view, with a listing of shares per asset. This will ensure your anonymity, while being able to prove identity, and holdings.)
This address will not, and can not be used to withdraw to."

Is this an address i can get in my Bitcoin wallet or where should i get/generate this address? Yeah, newbie...

You just want to use an address that you have control of, ie the private key for. It could be in your wallet, or generated in a paper wallet, or whatever.

If you use bitcoin-qt go to your recieve coins tab and generate a new address, use that.

[kosmokramer]

I have options that I've purchased that I've been waiting to execute for AMC shares - how are those affected now with this new merger?

How long will trading be an option on the old AMC shares (as opposed to the new ActiveMining)? I assume as long as we can trade them, we can execute options on them.

[ChronoX5]

"There are plenty of shares left as of this writing.  You can purchase the shares on bitfunder.com asset ActiveMining or you can purchase AMC shares on bitfunder and tender them or you can purchase AMC-PT on BTC-TC and tender them."

Got it, thanks. I see that share price is considerably cheaper on BitFunder, maybe i should move funds there (and to diversify) instead of BTCT. Just one more newbie question - at the registration page on BitFunder there is a request to input BTC address. "(Note: This address will be posted in public view, with a listing of shares per asset. This will ensure your anonymity, while being able to prove identity, and holdings.)
This address will not, and can not be used to withdraw to."

Is this an address i can get in my Bitcoin wallet or where should i get/generate this address? Yeah, newbie...

You can use your usual wallet's address. As far as I know it's only used for identifying you as the shareholder (most wallets allow you to sign messages which proves that you are the owner of this adress). When you click on the asset list button on the top of Bitfunder you can see where the address will later be displayed.

[lewicki]

I have options that I've purchased that I've been waiting to execute for AMC shares - how are those affected now with this new merger?

How long will trading be an option on the old AMC shares (as opposed to the new ActiveMining)? I assume as long as we can trade them, we can execute options on them.

Ken - I believe this operation will be a success and I've bought a lot of 2-3 month call options to AMC shares. I'd appreciate it if you take guys like me into consideration when setting the expiration date for the AMC to VMC share swap deadline.

We need to make sure there is a way to make Surprise (and any others in this position) whole.

The first Google hit I found for what happens to an option following a stock split, is here:

http://www.investopedia.com/ask/answers/03/092103.asp

The answer might help us figure out a solution.

This is really not a stock split, it is a swap, 1 share of AMC for 1 share of VMC when approved for trading.  The option owner are placing there bets and it up to them to guess right on the timing.  As an option trader myself I understand their concerns.

I made the options trades before any of the merger announcements on the basis of the existing AMC description on both exchanges and previous statements from Ken on this forum. I'm concerned in 2-3 months there won't be anyone to buy my AMC shares or any way to exchange them for VMC shares. I hope I'm not going to get punished for taking Ken at his word.

I don't think that is going to happen, AMC will continue to exist for a long time to come.  Even if the 10M shares where all swapped for VMC shares, AMC still has more to offer and will continue to grow.  The only difference will be that some of the revenue from AMC will flow into VMC.  I think it is a win for AMC and a win for VMC.  

Granted AM will trade higher than AMC, but AMC should do fine as well.

[kosmokramer]

I have options that I've purchased that I've been waiting to execute for AMC shares - how are those affected now with this new merger?

How long will trading be an option on the old AMC shares (as opposed to the new ActiveMining)? I assume as long as we can trade them, we can execute options on them.

Granted AM will trade higher than AMC, but AMC should do fine as well.

Ok, so from that, I interpret that AMC shares will be around for at least a few more months (my current options expire in a month or two) and once I execute them, I will be able to swap the resulting shares for ActiveMining?

[Streets 2.0]

I have options that I've purchased that I've been waiting to execute for AMC shares - how are those affected now with this new merger?

How long will trading be an option on the old AMC shares (as opposed to the new ActiveMining)? I assume as long as we can trade them, we can execute options on them.

Granted AM will trade higher than AMC, but AMC should do fine as well.

Ok, so from that, I interpret that AMC shares will be around for at least a few more months (my current options expire in a month or two) and once I execute them, I will be able to swap the resulting shares for ActiveMining?

As stated right now, swapping is only available until the 31st of July.  Someone correct me if I am wrong.

[Ashitank]

"There are plenty of shares left as of this writing.  You can purchase the shares on bitfunder.com asset ActiveMining or you can purchase AMC shares on bitfunder and tender them or you can purchase AMC-PT on BTC-TC and tender them."

Got it, thanks. I see that share price is considerably cheaper on BitFunder, maybe i should move funds there (and to diversify) instead of BTCT. Just one more newbie question - at the registration page on BitFunder there is a request to input BTC address. "(Note: This address will be posted in public view, with a listing of shares per asset. This will ensure your anonymity, while being able to prove identity, and holdings.)
This address will not, and can not be used to withdraw to."

Is this an address i can get in my Bitcoin wallet or where should i get/generate this address? Yeah, newbie...

Dont use that address for any fund transfers to buy/trade shares , you have to have an we-exchange account set-up in order to send & withdraw btc to/from bitfunder , check help or Faq page on bitfunder.

Refer to : https://bitfunder.com/help   , Where do I go to deposit or withdraw BTC?

[dexX7]

Small question without reading through the thread: is that order on 0.002500 of 1.988.133 shares on BtcTc real or just some kind of market maker mechanism to reduce spread?

[bigdude]

Small question without reading through the thread: is that order on 0.002500 of 1.988.133 shares on BtcTc real or just some kind of market maker mechanism to reduce spread?

They are real - they are the latest release of shares from AMC.

[kslaughter]

Verify queue down to zero, as of this time, transferring shares now on bitfunder.  BTC-TC will be next.

[dexX7]

Thanks for answering that. Maybe you could enlighten me about the buying wall, too? Seems like there is nothing to trade anymore in BtcTc right now, but a chance to sell or buy for the swap?

 

Small question without reading through the thread: is that order on 0.002500 of 1.988.133 shares on BtcTc real or just some kind of market maker mechanism to reduce spread?

They are real - they are the latest release of shares from AMC.

[jimmy3dita]

Verify queue down to zero, as of this time, transferring shares now on bitfunder.  BTC-TC will be next.

Great!!

Posting here a small OT: on Asicminer thread one user proposed to sell "subsidized" ASIC devices which mine (hard coded) 30% for the fund itself, and the rest is for the owner. This distribute risks and costs, together with a rapid scale-up of the production.

I don't think that Asicminer is interested on that but, on the other side, ActiveMining can easily take advantage of such an aggressive strategy.

What do you think?

[lewicki]

Thanks for answering that. Maybe you could enlighten me about the buying wall, too? Seems like there is nothing to trade anymore in BtcTc right now, but a chance to sell or buy for the swap?

 

Small question without reading through the thread: is that order on 0.002500 of 1.988.133 shares on BtcTc real or just some kind of market maker mechanism to reduce spread?

They are real - they are the latest release of shares from AMC.

Those shares at .0025 need to be sold to raise money for the chip. If not sold by the time AM is active on BTC-TC, the remaining shares will follow everyone over to AM

[TheSwede75]

Verify queue down to zero, as of this time, transferring shares now on bitfunder.  BTC-TC will be next.

So what will be the new total amount of shares; On the market (including sale post @ 0.0025) and; Total once ALL shares have been distributed (including the 15 million that are to be emitted at a later time)?

Also: What ownership share of the new AMC do the total amount of shares make up? (%)

[Vbs]

Verify queue down to zero, as of this time, transferring shares now on bitfunder.  BTC-TC will be next.

So what will be the new total amount of shares; On the market (including sale post @ 0.0025) and; Total once ALL shares have been distributed (including the 15 million that are to be emitted at a later time)?

Also: What ownership share of the new AMC do the total amount of shares make up? (%)

Check the #1 post on the ActiveMining thread.

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

[CoinBomb]

there are nearly 2 million outstanding shares unsold on BTCT - dont know about bitfunder, probably more. thats one hell of a wall to overcome. Is there enough volume on the market? I dont think so. so I sold out at 0.002499.

[VolanicEruptor]

there are nearly 2 million outstanding shares unsold on BTCT - dont know about bitfunder, probably more. thats one hell of a wall to overcome. Is there enough volume on the market? I dont think so. so I sold out at 0.002499.

I'm thinking of selling mine too for this very reason. 

[ArcticWolf]

Perhaps instead of one seemingly insurmountable wall Ken should drop 5k shares every day or so at the current ask, so as not to scare investors into selling?
Thoughts?

[lolstate]

Perhaps instead of one seemingly insurmountable wall Ken should drop 5k shares every day or so at the current ask, so as not to scare investors into selling?
Thoughts?

I actually don't mind the wall. It will prevent a blow off top which is of benefit to medium-to-long term investors. The last thing we need is for the price to go from 0.0025 -> 0.01 -> 0.0020 in a few hours.

Remember the walls are there to raise funds for the NRE. Short term flippers don't like walls because it limits their upside ie they need to hold for much longer than they like to make a quick buck. With dividends increasing and good news to come out over the next few weeks, the walls will be eaten away. It might frustrate the flippers but it is good for the health of the company.

[Streets 2.0]

Perhaps instead of one seemingly insurmountable wall Ken should drop 5k shares every day or so at the current ask, so as not to scare investors into selling?
Thoughts?

I actually don't mind the wall. It will prevent a blow off top which is of benefit to medium-to-long term investors. The last thing we need is for the price to go from 0.0025 -> 0.01 -> 0.0020 in a few hours.

Remember the walls are there to raise funds for the NRE. Short term flippers don't like walls because it limits their upside ie they need to hold for much longer than they like to make a quick buck. With dividends increasing and good news to come out over the next few weeks, the walls will be eaten away. It might frustrate the flippers but it is good for the health of the company.

Agreed, it will be a sense of frustration for short term traders on these shares, but it will also help keep the value sane and stable during the NRE.  It doesn't bother me much because I, and I am sure others, will be gladly eating into that wall.  Completion of the NRE is important, very important the faster it is attained, for long term investors.