[AMC]-The Official Active Mining Cooperative Discussion

[FloatesMcgoates]

Figures look good, how many BTC are needed for the NRE?

[VolanicEruptor]

Figures look good, how many BTC are needed for the NRE?

[ArcticWolf]

Figures look good, how many BTC are needed for the NRE?

If I remember correctly the NRE is $1Million, so 10k BTC at current prices

[kslaughter]

Figures look good, how many BTC are needed for the NRE?

~10,000 @ $100 Bitcoins.  However, we have had a lot of expenses in July getting our Prototypes built (Engineering NRE and Deposits) , plus paying for the
assembly of the 68 Klondike boards.  Also, having to exchange bitcoins @ $68 to pay some expenses did not help any.

[lolstate]

Figures look good, how many BTC are needed for the NRE?

~10,000 @ $100 Bitcoins.  However, we have had a lot of expenses in July getting our Prototypes built (Engineering NRE and Deposits) , plus paying for the
assembly of the 68 Klondike boards.  Also, having to exchange bitcoins @ $68 to pay some expenses did not help any.

Do you think focusing on pre-sales of miners might be the best way to raise the additional ~7500 BTC needed for the NRE?

[VolanicEruptor]

Ken, that's pretty bad luck that you paid those expenses at the VERY BOTTOM of the BTC price dip.  The odds of that are surreal..

[LordMeowMeow]

Also, having to exchange bitcoins @ $68 to pay some expenses did not help any.

I'm genuinely curious about this and not trying to suggest anything shady. Expenses for June were covered by the balance brought forward. Were you certain the price was going to go below $50 or something? Do you hold any cash reserves for the business? Or do you invest the bitcoins in the markets and they were tied up?

[Thalum]

Figures look good, how many BTC are needed for the NRE?

~10,000 @ $100 Bitcoins.  However, we have had a lot of expenses in July getting our Prototypes built (Engineering NRE and Deposits) , plus paying for the
assembly of the 68 Klondike boards.  Also, having to exchange bitcoins @ $68 to pay some expenses did not help any.

Do you think focusing on pre-sales of miners might be the best way to raise the additional ~7500 BTC needed for the NRE?

I would humbly suggest against this. The last thing wanted is another BFL kerfuffle where pre-sales/orders aren't fulfilled and the backlog gets bigger and bigger and pre-buyers get even more pissed off.

[FloatesMcgoates]

Ken, you say that you need more than 10k BTC for the NRE. Your chart shows that you currently have around 2.5k, so there are 7.5k more Bitcoins you need. However, the entire wall on BTCT would only provide 3957.34. How do you plan to deal with this discrepancy?

Would you be open to taking a real world loan as most small businesses do?

[klee]

Hi guys,
l tried to understand what is going on here in order to invest and/or buy hardware.
Can someone please summarize for me in plain English the thread?
What shares should I buy in order to help for the NRE?

EDIT:And where? I see two options..


When should we expect the hardware delivery, if everything goes acording to plan?
Thank you in advance!

[damiano]

Hi guys,
l tried to understand what is going on here in order to invest and/or buy hardware.
Can someone please summarize for me in plain English the thread?
What shares should I buy in order to help for the NRE?
When should we expect the hardware delivery, if everything goes acording to plan?
Thank you in advance!

Buying the wall on www.btct.co will help since those funds go directly to kslaughter. 

[VolanicEruptor]

Hi guys,
l tried to understand what is going on here in order to invest and/or buy hardware.
Can someone please summarize for me in plain English the thread?
What shares should I buy in order to help for the NRE?
When should we expect the hardware delivery, if everything goes acording to plan?
Thank you in advance!

Buying the wall on www.btct.co will help since those funds go directly to kslaughter.  

It should be explained why though.  Ken would receive the funds on Bitfunder too, but people currently have asks which are slightly below .0025, so the issued share "wall" won't get touched for awhile.

[VolanicEruptor]

Hi guys,
l tried to understand what is going on here in order to invest and/or buy hardware.
Can someone please summarize for me in plain English the thread?
What shares should I buy in order to help for the NRE?

EDIT:And where? I see two options..


When should we expect the hardware delivery, if everything goes acording to plan?
Thank you in advance!

Go to BTCT's page, click on AMC and then hit "Details".  That pretty much sums it all up.

[grimholt]

Ken, you say that you need more than 10k BTC for the NRE. Your chart shows that you currently have around 2.5k, so there are 7.5k more Bitcoins you need. However, the entire wall on BTCT would only provide 3957.34. How do you plan to deal with this discrepancy?

+1

[klee]

Awesome, thanks!

[ArcticWolf]

Ken, you say that you need more than 10k BTC for the NRE. Your chart shows that you currently have around 2.5k, so there are 7.5k more Bitcoins you need. However, the entire wall on BTCT would only provide 3957.34. How do you plan to deal with this discrepancy?

+1

From the ActiveMining thread:

Our Plans For Shares and the NRE:

When we reach our goal of funding for the NRE from any of the following sources (shares sales, machine sales, chip sales, private funding, mining, loans etc) with a bit of leeway for other expenses, I will make a post here in the thread and then take down the wall immediately.

[FloatesMcgoates]

I'm going to go ahead and make the argument that pre-order income should absolutely be used to fund the NRE. Right now, that money is sitting in some account collecting dust and losing value via inflation while Ken waits for alternative means to fund the NRE. Allowing pre-orders to fund the NRE would move all the timelines up so that individuals who actually pre-ordered will receive their product faster. If ActiveMining spends too much time not developing any product due to NRE funding issues, then hardware production will be delayed needlessly, which may prompt pre-orderers to ask for refunds.

This isnt without precedent, as both avalon and BFL have practiced this.

[Vbs]

Ken, you say that you need more than 10k BTC for the NRE. Your chart shows that you currently have around 2.5k, so there are 7.5k more Bitcoins you need. However, the entire wall on BTCT would only provide 3957.34. How do you plan to deal with this discrepancy?

+1

If you check the dates, the NRE funds are still not accounted for in this balance, those are just the funds from the 5M initial shares.

So, adding these, from the ~24th June to ~28th June:

.0025 Shares sold on Bifunder: 432,649
.0025 Shares sold on BTC-TC: 511,678
Total: 944,327

944323/4000000 = 0.23608075 = ~23.6 % funded

Which should account for +BTC2360.8075.

Btct.co shares are currently at 870,304, so that's more 358,626 shares sold (should even be more since some were tendered to BF) for +BTC896.565.

Current Total: ~BTC5709.21

[FloatesMcgoates]

Ken, you say that you need more than 10k BTC for the NRE. Your chart shows that you currently have around 2.5k, so there are 7.5k more Bitcoins you need. However, the entire wall on BTCT would only provide 3957.34. How do you plan to deal with this discrepancy?

+1

If you check the dates, the NRE funds are still not accounted for in this balance, those are just the funds from the 5M initial shares.

With these, from the ~24th June to ~28th June:

.0025 Shares sold on Bifunder: 432,649
.0025 Shares sold on BTC-TC: 511,678
Total: 944,327

944323/4000000 = 0.23608075 = ~23.6 % funded

Which should account for +BTC2360.8075.

Btct.co shares are currently at 870,304, so that's more 358,626 shares sold (should even be more since some were tendered to BF) for +BTC896.565.

Current Total: ~BTC5709.21

Nice catch, I did not see that the dates on the report were quite old.

[Vbs]

Nice catch, I did not see that the dates on the report were quite old.

Also, 1,567,702 (btct.co wall) + 885,625 (outstanding) - 511,678 (previous) = 1,941,649 * 0.0025 = BTC4854.1225

BTC2452 + BTC2361 + BTC4854 = ~BTC9667 when btct.co wall is fully depleted. I'm expecting that with some other funding options the wall won't even get to zero before being removed.