[VMC] Official Virtual Mining Corporation Discussion

[atmclikk]

London, UK – October 30, 2013 – Active Mining Corporation (AMC) today announced that they have added over 1TH+ to their hashing rate.  This additional hashing rate has been add from the 68 Klondikes and 1088 Avalon chips that were ordered last May 3rd plus the addition of other hashing resources.  This bring ActiveMining hashing resource to a total of ~1.4 TH/s.  Over the next few week ActiveMining expects to add up to and additional 3 TH/s to their mining operation.

Source: https://bitcointalk.org/index.php?topic=297543.msg3445996#msg3445996

So a company that initially started their business plan to mine with their own chips are actually shipping with 3rd party chips. WAY TO GO!!! They are mining with the most inefficient chips out there (avalon) and they the first ones to mine on the loss once the difficulty rises. So funny!

1. Sell shares
2. Mine with non-ROI'ing equipment
3. Pray that BTC price goes up
4. Profit!! 

[1714748439]

1714748439

[gaspark]

This waiting begins until the Delivery is a horror!

[WikileaksDude]

This waiting begins until the Delivery is a horror!

It will ROI no worries

[iikun]

This waiting begins until the Delivery is a horror!

It will ROI no worries

Sure.  As long as ROI doesn't mean Return On Investment it might. 
Maybe Rectal Orifice Injection might be more appropriate to what you feel when you realize how much money you lost.

[RoadStress]

This waiting begins until the Delivery is a horror!

It will ROI no worries

In 1 year?

[WikileaksDude]

This waiting begins until the Delivery is a horror!

It will ROI no worries

In 1 year?

In less time. Much less.

[qukkM]

how do i transfer my shares out of bitfunder? i just seen the deadline is tomorrow.

[tiaguitah]

how do i transfer my shares out of bitfunder? i just seen the deadline is tomorrow.

Contact Ukyo, on forum and on IRC #bitfunder at irc.freenode.org

Hopefully he will take care of it fast.

Also see this: https://bitcointalk.org/index.php?topic=297543.0

[Bargraphics]

how do i transfer my shares out of bitfunder? i just seen the deadline is tomorrow.

Announcement

Due to Bitfunder closing down, we are extending the deadline to transfer shares to AMC-TENDER until November 13th, 2013.

At this time all shareholders should follow the procedure for transferring shares to AMC-TENDER.

Dividends which are due to be paid tomorrow will be suspended until we have the share problem solved.

We will be creating Pass-Through shares on a yet undetermined exchange for our shareholders.

After the Pass-Through is created, we will pay the suspended dividends.

Active Mining Corporation (Belize)

Step-By-Step Guide to Tendering Shares to ActiveMining

So I figured I'd do this for those who have absolutely no idea.  I realize that most of us DO know what we're doing, but there's no point in having people left behind because they're too afraid to ask.

I use bitcoin-qt for my Bitcoin dealings. I don't have much trust in the online wallets at this point, so I'll provide steps based on what I know.  If you would prefer to use another wallet, do your research and don't be afraid to ask questions to determine if it is right for you.  For example, make sure you can sign messages from whatever client you intend to use.

Part 1.  Bitcoin-qt

1. Google for and install the official bitcoin-qt client on your computer.  In fact, just to save you some time, go here: http://bitcoin.org/en/download

2. Once the software is installed, run it.  It will create a local wallet.dat file for you among other things.  This wallet.dat file is what stores your bitcoin addresses, balances, etc.  Never lose this file.  This is important.  You lose the file you lose your Scrooge McDuck riches.  Simple as that.  Also note that the client will start to download the entire blockchain.  It weighs in at 10+ gigs right now. If you have a terribly sucky low-bandwidth cap service from your ISP, just bear in mind that this could up your numbers.

3. First and foremost. SECURE YOUR WALLET!  Here's how...

     - Under the "Settings" menu item, click "Encrypt Wallet"
     

     - Enter a passphrase.  This is possibly the most important password you'll ever enter. Please ensure it's STRONG.  10+ characters, random letters numbers and symbols. add caps.  For example:  "yT658!{93%$#uyhgjKIyshI"  ... Write this down somewhere and keep it safe!

4. Go to the "Receive" tab.
     

5. Click on "New Address" at the bottom-left


6. Enter an appropriate name for this address so you know what it represents.  When you click Ok, a new address will be generated for this account.


7. You should now see the account you created with it's address in the grid. Congrats.



Part 2.  BitFunder

1. Log in to BitFunder.com

2. Go to "Settings" in the upper-right hand corner.


3. Under "Public Bitcoin Address" on the right side, copy and paste the newly created address from bitcoin-qt into the new address field.  Double-check to ensure you're copying the right address!


4. After saving the public address, click on the "Transfer" menu item on the left-hand menu.


5. Enter the appropriate information on the transfer screen. make sure to enter ALL shares you own of ActiveMining into the "Share Amount" field.  no use in keeping any of them around BitFunder now.  Oh, I already tendered mine, so sorry for the sloppy paint job. Worth a chuckle at least, right?

NOTE: make sure you get the user name correct!  It's "AMC-TENDER". No spaces!


6. Once you click the "Transfer!" button, that's it that's all.  make sure you get your info right before you click.  If your palms are sweating, good!

7. Click on the "Transactions" menu item. You'll see the latest transaction history menu item reads "Send Transfer To: AMC-TENDER" along with the number of shares you transfered.  TAKE A SCREENSHOT OF THIS PAGE AND SAVE IT!  The entire browser window.  ALL of it. Include the blue bar at the top too with your username.  This will be helpful in case there are complications in the future.


Well that's it.  Message signing was already covered, and we don't really have official word on what to do yet from Ken, so just complete this guide and hang tight for more info when it's time.

Hopefully this helped a few of you anyway.  If I missed something, let me know.

[WikileaksDude]

if people don't actually tender their shares, they are going to be automaticly tendered. by 14 november.

[WikileaksDude]

VMC Sales:

3rd Quarter 2013           $1,404,217

October 2013                   $520,898

Total Sales YTD             $1,925,115

source: https://bitcointalk.org/index.php?topic=297503.msg3551557#msg3551557

[iikun]

VMC Sales:

3rd Quarter 2013           $1,404,217

October 2013                   $520,898

Total Sales YTD             $1,925,115

source: https://bitcointalk.org/index.php?topic=297503.msg3551557#msg3551557

well, unfortunately:
Profit= Sales - Expenses

and you didn't give expense figures. 

Additionally, only real sales are usually counted as sales. Pre-sales are actually a liability in accounting terms as they are undelivered.  And if things go on much longer they'll magically turn into "cancellations"

Any idiot can sell. It takes smarts to make a profit. (pre-sale "profits" don't count btw)

[CoinHoarder]

To: kslaughter / whomever it may concern

ROI is looking quite dismal. Is there any chance the delivered equipment will run faster than advertised? Or is there any other way you can make it up to your customers somehow by delivering extra units or something? I spent over $10,000 with you guys and would appreciate it if you allow me to at least break even on my purchase. If not, do not expect me to be a repeat customer.

Thanks for your time,

Ch

[kslaughter]

To: kslaughter / whomever it may concern

ROI is looking quite dismal. Is there any chance the delivered equipment will run faster than advertised? Or is there any other way you can make it up to your customers somehow by delivering extra units or something? I spent over $10,000 with you guys and would appreciate it if you allow me to at least break even on my purchase. If not, do not expect me to be a repeat customer.

Thanks for your time,

Ch

This is very important to us.  This is our moto: "If You Make Your Customers Successful, You Will Be Successful".  Now that being said we have no control over the difficulty, so we are working on R & D to make our machines run faster.  Now, here is our promise to our customers, if at anytime before we ship the machine to our customer and the machine will not return a positive ROI within the first year, we will at their option refund 100% of the purchase price of the machine.

[Epoch]

This is very important to us.  This is our moto: "If You Make Your Customers Successful, You Will Be Successful".  Now that being said we have no control over the difficulty, so we are working on R & D to make our machines run faster.  Now, here is our promise to our customers, if at anytime before we ship the machine to our customer and the machine will not return a positive ROI within the first year, we will at their option refund 100% of the purchase price of the machine.

Not sure what "if at anytime before we ship the machine to our customer" means. Also, is this ROI promise in BTC (20BTC investment must earn 20BTC in a year) or fiat ($5k investment must earn $5k in a year)?

[kslaughter]

This is very important to us.  This is our moto: "If You Make Your Customers Successful, You Will Be Successful".  Now that being said we have no control over the difficulty, so we are working on R & D to make our machines run faster.  Now, here is our promise to our customers, if at anytime before we ship the machine to our customer and the machine will not return a positive ROI within the first year, we will at their option refund 100% of the purchase price of the machine.

Not sure what "if at anytime before we ship the machine to our customer" means. Also, is this ROI promise in BTC (20BTC investment must earn 20BTC in a year) or fiat ($5k investment must earn $5k in a year)?

The machines are priced in fiat, so the promise is in fiat.

[CoinHoarder]

Good to know kslaughter. Thanks for being more honorable than some other companies I won't mention.

[WikileaksDude]

Good to know kslaughter. Thanks for being more honorable than some other companies I won't mention.

Just check how honorable VMC / ActiveMining can be lol:

https://bitcointalk.org/index.php?topic=297503.msg3562481#msg3562481

6 x 24.576 TH/s Fash-Hash One Platinum machines sold for $933,592.80 today

[filharvey]

When is current expected shipping time for these if you ordered now?

Thanks

[tiaguitah]

When is current expected shipping time for these if you ordered now?

Thanks

December time window.