[VMC] Official Virtual Mining Corporation Discussion

[SOSLOVE868]

I think the question is: If I only buy a Fast-Hash-ONE 256 GH/s Module without the Fast-Hash Expansion Case (for a total of $3.999), can I mine straight way with it?
Well, that would be my question anyway...

Yes, all of our Fast-Hash series of machines are all self contained.  You do not need an expansion case, that is only needed if you want to expand past 6 cards.

How long can receive the goods after payment?

Fast-Hash-One shipping is October/Novermber 2013

The risk is you may never ever find anyone responsible for your order by that time... be diligent on your homework.

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[lewicki]

So after looking at the website and being as confused as everyone else. I have talked to Ken and here is what's going on:

VMC has 3 components that go into their products that they have for sale:

• Fast-Hash-One - 4U (server rack space) - This is the base module, the controller if you will. You cannot buy this by itself. Holds up to 6 hashing cards/6 expansion cases
• Expansion Case - $9999- 5U - Holds up to 16 hashing cards. Plugs into the base unit and takes up 1 of 6 slots.
• Hashing Card - $3999/$4999 - Run at 256GH/s

VMC has 2 items for sale on it's website http://virtualminingcorp.com/shop1/index.php?id_category=6&controller=category:

• Fast-Hash-One Bitcoin Mining Machine - Normally hashing cards are $4999 a piece. However, right now, Ken is offering you your first hashing card for $3999 instead of $4999 and this includes the base module as well. This will get you mining right away. You'll notice however, if you add a 2nd, 3rd, etc card, the price goes up to $4999 per card. That's their normal price. You only get the discount on the first card. You can also order an expansion cases on this page.
• Fast-Hash-One 256 GH/s Module - Pretty straightforward. Just hashing cards for your base module or expansion case(s)

What about prices of these cards in the future?
Cards will be cheaper in 6 months. Chips cost 3X more to get them fast. After getting everything rolling on the chip, prices will drop, but so will the reward/hash.

[SOSLOVE868]

So after looking at the website and being as confused as everyone else. I have talked to Ken and here is what's going on:

VMC has 3 components that go into their products that they have for sale:

• Fast-Hash-One - ~42U (server rack space) - This is the base module, the controller if you will. You cannot buy this by itself. Holds up to 6 hashing cards
• Expansion Case - $10,000 - 64U - Holds up to 16 hashing cards
• Hashing Card - $3999/$4999 - Run at 256GH/s

VMC has 2 items for sale on it's website http://virtualminingcorp.com/shop1/index.php?id_category=6&controller=category:

• Fast-Hash-One Bitcoin Mining Machine - Normally hashing cards are $4999 a piece. However, right now, Ken is offering you your first hashing card for $3999 instead of $4999 and this includes the base module as well. This will get you mining right away. You'll notice however, if you add a 2nd, 3rd, etc card, the price goes up to $4999 per card. That's their normal price. You only get the discount on the first card. You can also order an expansion cases on this page.
• Fast-Hash-One 256 GH/s Module - Pretty straightforward. Just hashing cards for your base module or expansion case(s)

What about prices of these cards in the future?
Cards will be cheaper in 6 months. Chips cost 3X more to get them fast. After getting everything rolling on the chip, prices will drop, but so will the reward/hash.

Be Smart ,Be prudent...no body is worth to trust ,before anything really happened.

[lewicki]

Be Smart ,Be prudent...no body is worth to trust ,before anything really happened.

That goes without saying. One's investments depend on what level of risk they are comfortable with.

As for me, the day I converted my fiat to bitcoins was the day I considered that money destroyed. As a result, I try to be as unbiased as possible and look at everything level headed. I liked what I saw back in May, even when the Avalons had not arrived, and I like it even more now. Ken has come through with all of his promises so far in a timely matter.

Here is a write-up I put up about ActiveMining a few days ago:
http://www.reddit.com/r/Bitcoin/comments/1i4tcj/activeminer_the_crowdsourced_restructuring_of/

Send me a PM if you have any questions.

[kslaughter]

Our Fast-Hash-One has 2 required components and one optional component:

• Required: Fast-Hash-One - 4U's - This is the base unit, and requires at least one hashing card to mine bitcoins.  This unit expands up to a total of 6 hashing cards
• Required: At least 1 Fast-Hash-One 256 GH/s Hashing Card containing 16 Fast-Hash-One 16 GH/s chips - $4,999 each
• Optional: Expansion Case(s) - $9,999 each - 5U's - Expands up to 16 hashing cards and requires one slot in the base unit, up to 6 cases may be added to the base unit

Base unit with 1 Fast-Hash-One 256 GH/s hashing card - $3,999.00

[lewicki]

You have shown absolutely nothing real about this, period

You didn't take me up on my offer to check out your shop while I was in Springfield last week

You have ripped off images on your website of the "product"

Here is a picture of VMC HQ:
http://axs.net/AMC/VMC/photo.jpg

Someone visited over the weekend (we are still waiting on a full report):
https://bitcointalk.org/index.php?topic=252531.msg2725919#msg2725919

Here are his pictures of the facility:
http://www.flickr.com/photos/98907028@N08/

The stock photo you are referring to are the stock photos of the cases that he purchased to house the mining cards. Check that link, you'll see the same cases.

Here are pictures of the NDA signed with eASIC:
http://axs.net/AMC/eAsic-NDA0001.jpg
http://axs.net/AMC/eAsic-NDA0002.jpg

[E.Sam]

Is there a limited availability for October/November batch? if so, how many units are left?

Cheers.

[Operatr]

Kslaughter grow some balls and quit deleting posts, answer for your business instead of censoring negative press because you can't produce any actual evidence of what you claim.

You have a price and performance on products that do not currently exist in any form

Who are you to these guys lewicki?

Why are those pics not being posted by kslaughter himself?

Shady, very shady
And if you delete this one I will just keep reposting

A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

Our Fast-Hash-One has 2 required components and one optional component:

• Required: Fast-Hash-One - 4U's - This is the base unit, and requires at least one hashing card to mine bitcoins.  This unit expands up to a total of 6 hashing cards
• Required: At least 1 Fast-Hash-One 256 GH/s Hashing Card containing 16 Fast-Hash-One 16 GH/s chips - $4,999 each
• Optional: Expansion Case(s) - $9,999 each - 5U's - Expands up to 16 hashing cards and requires one slot in the base unit, up to 6 cases may be added to the base unit

Base unit with 1 Fast-Hash-One hashing card - $3,999.00

[Syke]

Kslaughter grow some balls and quit deleting posts, answer for your business instead of censoring negative press because you can't produce an actual evidence of what you claim.

Mods, move this thread to Off-topic, or maybe Scam Accusations. A self-moderated thread from a questionable source does not belong here. It gives the false impression that there are no red flags when in reality the thread creator is deleting posts.

[RoadStress]

Kslaughter grow some balls and quit deleting posts, answer for your business instead of censoring negative press because you can't produce an actual evidence of what you claim.

Who are you to these guys lewicki?

Why are those pics not being posted by kslaughter himself?

Shady, very shady
And if you delete this one I will just keep reposting

Go here: https://bitcointalk.org/index.php?topic=253282.0

lewicki's post seems very strange to me too.

[kslaughter]

Is there a limited availability for October/November batch? if so, how many units are left?

Cheers.

There is a limited availability of 230.4 TH/s of equipment, since our machines are very expandable we can not go by
a certain number of machines.

[lewicki]

Hey, I'm just an investor. I took it upon myself to help talk about AMC/VMC/ActiveMining since there has been a lot of crap flying around. The only thing I want to do is present an unbiased report on the facts. If they are damning, then so be it.

You must understand that Ken is deeply involved with this company and gets defensive quickly. That, compounded with him not having ANY time whatsoever to talk to every person who many have a question can cause him to act rashly sometimes. There's also the fact that for the past 4 months we have been getting ransacked with inflammatory comments from a large part of the community who have already put their money behind another horse.

I will say that due to differing opinions, we have gotten Ken to make changes which have all been for the better. What I'm trying to say is that a few of us are white knights, yes, but we do listen and have pull with Ken. So if what you say has merit we will discuss it. However a large amount of it has been trollish, and it does wear on us and we are affected by it.

If you have any questions please let me know so I can help answer them.

[iikun]

it's a little weird that investors have to protect the company on this forum rather than the actual people involved, don't you think?  Just saying...

Interesting to have photos btw, but a big empty room, a box of psu's?, a small tool bench (doesn't seem to be for electronics though?), and a site visit by a member with 16 posts doesn't really do much. I think a lot more could be done to show this is all legit if in fact it really is. 
If he had been first to market or in the initial group of three Avalon/AM/BFL his lack of evidence/unprofessional site might have been forgiven but, as it is today, everyone posting on this forum gets flamed out of existence unless they clearly establish proof of concept in their initial post. He might be a businessman, but businessmen need to look at themselves through potential customers eyes in order to succeed.

[lewicki]

it's a little weird that investors have to protect the company on this forum rather than the actual people involved, don't you think?  Just saying...

Interesting to have photos btw, but a big empty room, a box of psu's?, a small tool bench (doesn't seem to be for electronics though?), and a site visit by a member with 16 posts doesn't really do much. I think a lot more could be done to show this is all legit if in fact it really is.  
If he had been first to market or in the initial group of three Avalon/AM/BFL his lack of evidence/unprofessional site might have been forgiven but, as it is today, everyone posting on this forum gets flamed out of existence unless they clearly establish proof of concept in their initial post. He might be a businessman, but businessmen need to look at themselves through potential customers eyes in order to succeed.

You're right. There are/needs to be many threads to manage all of the different aspects of ActiveMining/AMC/VMC. Just managing the threads takes up a good chunk of the day:

Threads Ken is overseeing:

• VMC (sales)
• AMC (mining, currently hashing)
• ActiveMining (shareholders, paying dividends)

There are a lot of balls up in the air at the moment, so we all have to pitch in. This is what he has on his plate at the moment:


To do list:

• Managing share transfers and shareholder queries for AMC and ActiveMining on BTC-TC and Bitfunder
• Manage 6 Hashing Avalons
• Klondike boards will be arriving soonish
• 20,000 Avalon chips are incoming this or next month.
• Avalon prototype board will be complete next week.
• eASIC approved Ken's RTL code for his chip which is rated at 16GH/s. They will commence immediate production once they receive the NRE (1 million dollars), there will be some printed out this upcoming 4th quarter, with full production starting Q1
• Managing those above threads
• Getting components and chassis for the boards
• Managing sales from the website and this forum
• Marketing - google "bitcoin mining machine" if you are in the US/Canada, Just bought all 7 advertising slots on this forum

He has his hands full. We're behind him trying to keep up and pick up all the loose ends.

[Technologov]

VMC website problems:
1. On main page it says "Free shipping"
But during order stage 4 I see DHL shipping = $200.

2. On the order page it says "Available", but in fact it is a pre-order. Misleading.
Please avoid becoming another BFL, and state thing clearly.

3. Pricing issue:
Base model + 1 module = $4000, but Base model + 2 modules = $10,000. How come?

4. Supply/Demand - the current situation with ASIC market is a joke.
I cannot find an ASIC mine anywhere, except Ebay Avalon for $30,000 bucks. (Which I'm not ready to pay)
Every single company offers pre-orders (with 1 year delay; BFL) or nothing.

My suggestion: Put a batch of production-ready mines on an auction at VMC. Not pre-orders. Actual and working mines.
And place a very small minimum ask of each mine, near production costs.
If you have real working mines traded at VMC at auction, we would *solve* the stupid Supply/demand issue in a short order.

If the auction fails (no bids), the mine temporarily goes to AMC department for in-house mining until next-week's auction. Repeat.
Auction selling will allow the company to determine mine's real, free-market price. AMC should also be allowed to bid.
Capitalism is about solving problems, including supply/demand problems.

If Avalon sold batch #1 mines for $1300, and a few months later I find an Avalon for $30,000 on ebay, then something is dead wrong here.

-Technologov

[Technologov]

Klondike boards are boards for 16 GH/s Fast-Hash 28 nm chips, right ?
And will they arrive _before_ the chips themselves ?

[lewicki]

VMC website problems:
1. On main page it says "Free shipping"
But during order stage 4 I see DHL shipping = $200.

I'll forward this to Ken.

2. On the order page it says "Available", but in fact it is a pre-order. Misleading.
Please avoid becoming another BFL, and state thing clearly.

Well, there are only so many pre-orders available since low production will start Q4, and high production kicks into gear at the beginning of Q1 2014. It is and pre-order but there are only limited amounts. I'll talk to Ken to get this changed so people don't get confused.

3. Pricing issue:
Base model + 1 module = $4000, but Base model + 2 modules = $10,000. How come?

It's quite a deal really. You get the base module and a hashing card for $4000. Afterwards, the hashing cards cost $5000 a piece. Not a bug.

4. Supply/Demand - the current situation with ASIC market is a joke.
I cannot find an ASIC mine anywhere, except Ebay Avalon for $30,000 bucks. (Which I'm not ready to pay)
Every single company offers pre-orders (with 1 year delay; BFL) or nothing.

You're right. When Ken first started earlier this year, he created VMC to supply AMC with machines solely for this matter.

He is doing none of the production himself (though he has written the RTL code for the chips themselves). He is outsourcing the production to a company called www.easic.com.



eASIC approved Ken's code and tested to make sure it works with their chip 2 weeks ago.

Ken is in the process of gathering necessary funds for paying NRE costs on its 28nm chip. We hope these funds to be gathered soon, so that chip production can start as soon as possible. Estimated dates after NRE payment are:

• Chip samples delivered in 9 weeks;
• Low-volume chip production starting in 12 weeks, using an e-beam process;
• Normal volume chip production starting in 16-18 weeks.

My suggestion: Put a batch of production-ready mines on an auction at VMC. Not pre-orders. Actual and working mines.
And place a very small minimum ask of each mine, near production costs.
If you have real working mines traded at VMC at auction, we would *solve* the stupid Supply/demand issue in a short order.

If the auction fails (no bids), the mine temporarily goes to AMC department for in-house mining until next-week's auction. Repeat.
Auction selling will allow the company to determine mine's real, free-market price. AMC should also be allowed to bid.
Capitalism is about solving problems, including supply/demand problems.

If Avalon sold batch #1 mines for $1300, and a few months later I find an Avalon for $30,000 on ebay, then something is dead wrong here.

-Technologov

The first batch will be coming out in 9 weeks after the NRE is paid for unfortunately. The good news is that we are getting closer to that goal each day. At current rate it is projected that we will reach this goal sometime next week (BTC/USD withstanding of course)

Klondike boards are boards for 16 GH/s Fast-Hash 28 nm chips, right ?
And will they arrive _before_ the chips themselves ?

No. The Klondike boards are entirely seperate from VMC. Those boards will go to AMC to mine right away. Kens chips through eASIC will be 16GH/s each and be manufactured at 28nm.

Hope this answer some of your questions. Let me know if you have any more.

[RoadStress]

Hey, I'm just an investor. I took it upon myself to help talk about AMC/VMC/ActiveMining since there has been a lot of crap flying around. The only thing I want to do is present an unbiased report on the facts. If they are damning, then so be it.

You must understand that Ken is deeply involved with this company and gets defensive quickly. That, compounded with him not having ANY time whatsoever to talk to every person who many have a question can cause him to act rashly sometimes. There's also the fact that for the past 4 months we have been getting ransacked with inflammatory comments from a large part of the community who have already put their money behind another horse.

I will say that due to differing opinions, we have gotten Ken to make changes which have all been for the better. What I'm trying to say is that a few of us are white knights, yes, but we do listen and have pull with Ken. So if what you say has merit we will discuss it. However a large amount of it has been trollish, and it does wear on us and we are affected by it.

If you have any questions please let me know so I can help answer them.

You sent me the same message in a PM. There was no need of that since i read this topic too.

You must understand that Ken knew exactly how this forum works and how people are around here BEFORE starting his project and BEFORE creating this self-moderated topic so i don't think you or him should find such excuses. The fact that you are getting ransacked with inflammatory comments is nothing new and special on this forum. It's just the way things work around here wit or without another horse. If Ken doesn't want to talk with people here then he should just hire a PR person or don't start a mining company. I never saw investors covering for the business they invested in instead of the actual owned of the business, but Ken is free to manage his business the way he pleases, but he won't be treated special just because he doesn't like how things go around here. This is just my way of seeing things. I don't expect any other reply considering this topic and i consider this free consultancy. Having more competition in the mining business is a good thing and i wish him all the luck.

[lewicki]

Regardless of who has been providing the information, I hope that the above posts from myself and Ken answer at least some of the questions that you have had.

[kslaughter]

ActiveMining: Reaches Its Goal to Fund The NRE to Create the Worlds Fastest Bitcoin Mining Chip

SPRINGFIELD, MO, - July 19, 2013 - Active Mining (AM) and Virtual Mining Corporation (VMC) are announcing today that they have reached their funding goal to provide funds for the NRE required by eASIC.  VMC is in the process of creating the  "World's Fastest Bitcoin Mining Chip"  the Fast-Hash-One 28nm 16 GH/s chip. The Fast-Hash-One machines starts at 256 GH/s with a retail price of $3,999 or $15.62 per GH/s also making it the price leader in the market place. The Fast-Hash-One series of bitcoin mining machines are  "The Gold Standard Of Bitcoin Mining Machines"™