[ActiveMining] The Official Active Mining Discussion Thread

[JoTheKhan]

So unless the share is locked during/right after the meeting, then no new information should be presented at this Rich Kid Only meeting.

Some points:

- There will be no general shareholder meeting. There is no need for one since you can speak to anyone, including Ken even, at any time. If there is company news to share, it'll be posted on this forum.

- I suggest again that you look around as you're clearly new to this and unaware of how even the best known of Bitcoin securities works with regards to 'rich kids'. ActiveMining is and always has been very open, too open it could be argued.

- I can't speak for you, but none of the people we're dealing with are children or could be called a 'rich kid'. You're talking about some people with years of business experience, CEO types, and some generally very successful people. Just because this is an Internet forum does not mean you're dealing with teenagers.

- What PR mentioned is a meeting to discuss general progress, to generate ideas, a forum to discuss certain things with people we know have a long term interest in the company or who we know can help. Someone who has a significant proportion of shares is very likely to have the long term interest at heart since disposal of those shares in any quick manner isn't possible on Bitcoin markets. Even then, it's not a right because the aim is to be productive in a controlled manner where every word isn't analysed and picked apart and distorted to suit certain people's needs. That would defeat the purpose of it and be potentially destructive - you can see how everything is picked apart in Bitcoin offerings as it is.

- As already mentioned, there will be no significant new information released for these meetings. There is simply no reason to do that apart from anything else. If there is news to share, far better to tell everyone!

This is my last post on this topic. If you continue to have a problem with it, please take it up privately.

Thank you. You have actually answered all of my questions. Btw, the rich kids wasn't me calling anyone here kids. It's just a turn a phrase. Just to paint a picture of the situation.

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[yuansuyi]

ff - before you sign off on this one can you please confirm that commercially sensitive news that may effect share price will be given to the Board at the same time it is given to the share holders and that is by a post on this thread only? Thanks.

It's Advisory Board appointed by Ken, why do you think Cheerleaders will get inside info?

This Board is merely exist for derailing key topic such as timeline,roadmap, teammember etc, and covering ass of Ken. And their posts are long but with nothing useful.

See, we have Board, we have Ken's phone number,what else are you greedy shareholders worrying about?  becareful,I will add you to my ignore list.

[ffssixtynine]

ff - before you sign off on this one can you please confirm that commercially sensitive news that may effect share price will be given to the Board at the same time it is given to the share holders and that is by a post on this thread only? Thanks.

I'm sorry Stuart but that's not a fair thing to ask. In order to do our job we're sometimes going to need to know what's going on, and that's for your benefit, where you are all the shareholders (as well as us). For one thing, we have to do the posts and PR! This is an actual (unpaid) job, it is not some free source of information to get rich and it's increasingly frustrating hearing that people think it is (and we're what, on the 5th day now?).

I cannot understate how much work is going on. I've basically not slept for 3 days and all 6 of us are using up all our time on this. That may help you understand a little of the frustration with the same questions going around and around which have absolutely nothing to do with progressing ActiveMining, improving it for everyone, and which are all to do with people worried about trading.

You're going to have that problem with every single Bitcoin security, with people related to the company, friends, those 'rich kids' (tm) with a board seat at AsicMiner, etc. Hell, it's even a problem out there in the real world, SEC or not. Besides, when you're already deeply vested, there isn't a lot you can do even if you were minded to, and volumes on Bitcoin exchanges show up trades of any size very quickly (VE, the recent AsicMining issue).

Ken chose us because he trusted us, and we're not going to break that trust.

We're here to try and make ActiveMining better in areas they've struggled with. And now we'd like to get on with that. Those who don't like it, well I'm not going to change your mind if I haven't already.

Jo: Understand the rich kids thing, thanks.

[Stuartuk]

I'm sorry Stuart but that's not a fair thing to ask.

Thanks for the detailed reply ff. I see it is a bit of a naive question now as ofcourse like you say for a start PR have to do the news releases. I can see that wouldn't work as a suggestion -  you guys are there to help decide what the news will be by advising what route the company will take etc. If it wasn't that way you wouldn't be helping Ken out with major decisions.

So lets look at it from another angle then. I would accept you need to know what is going on, so we can't keep the news away from you. So can we instead then see a historic record of the Boards holdings to make sure you are not trading big volume before a news release? Board members in the real world release their interests in the company don't they?

Or can you freeze shares as suggested around news release time?

I don't see this as a stumbling block or a huge issue right now if you collectively think this can't be done. But if you could think of a way to address this question you would create a lot of confidence for future investors and as a result ACtM will attract more money, more quickly and everyone's holdings will appreciate quicker. It's ok having us lot holding shares and having faith and trust in you lot but when big money from outside starts showing interest they will ask these same questions and to our detriment may decide not to invest because of this issue. I hear you saying it's the same all over the btc world but we are expecting big things and when big money comes along they will want the assurances that they presently do get in the real world - exceptional abuses aside ofcourse, nothing is 100%.

[ffssixtynine]

Cheers Stu.

Right now we're just going to concentrate on helping address ActiveMining progress.

Should it become some massive profit making enterprise and/or should Bitcoin markets explode then it's a topic that could be revisited by all Bitcoin securities. It's a general issue, not an ActiveMining one, it's just that we have 6 people who are public about helping out. At various other securities, it's rather less obvious let's say.

If you have further q's, PM me.

[kslaughter]

Bitfunder, BTCTC Dividends Paid [.00000282]

[VolanicEruptor]

Bitfunder, BTCTC Dividends Paid [.00000282]

That will make up for the happy meal I bought today.  Thanks boss..

[SoylentCreek]

I cannot wait until we can drop an order of magnitude, or two, off of that div.  Nonetheless, still a good feeling.  Thanks Ken!

[ffssixtynine]

I cannot wait until we can drop an order of magnitude, or two, off of that div.  Nonetheless, still a good feeling.  Thanks Ken!

Me neither!

Still, it all helps

[knybe]

gotta love the

[VolanicEruptor]

I cannot wait until we can drop an order of magnitude, or two, off of that div.  Nonetheless, still a good feeling.  Thanks Ken!

[SoylentCreek]

I cannot wait until we can drop an order of magnitude, or two, off of that div.  Nonetheless, still a good feeling.  Thanks Ken!

Yes... I did say that.

[SebastianJu]

I ran the numbers on those chips and they would be a real gamble even at half off. With 75-90% monthly increases we would have to get the chips into Avalon clones and hashing no later than the first half of October to make any sort of profit.

The network hash rate is unlikely to continue to grow at 75-90% for the next 12 months, as it becomes less profitable to buy mining equipment the increases will level off and likely drop.

One have to take the assembly cost in account that are again the costs the chips costs originally on top too.

But i think the rise will go on a long time. Since at the moment the people dont buy because its profitable... they pre-buy and that means when the hardware comes its not profitable anymore. They only dont know yet. And the difficulty will rise very strong because of all that prebought hardware.

[knybe]

Just wondering how this rise in difficulty factors into ActM's future plans:

(Grabbed from reddit):

We went from 19m to 65m in roughly 2 months:
65,750,060 -> 29.40%
50,810,339 -> 35.88%
37,392,766 -> 19.63%
31,256,961 -> 19.47%
26,162,876 -> 22.63%
21,335,329 -> 10.32%
19,339,258 -> 23.92%

[SebastianJu]

110% difficulty rise in the last 30 days. Poor guys with preorders coming in some months only... http://mining.thegenesisblock.com/

[N_S]

110% difficulty rise in the last 30 days. Poor guys with preorders coming in some months only... http://mining.thegenesisblock.com/

Yeah, I'd hate to have a personal preorder outstanding...

This rate of difficulty increase is making foresight and proper future planning all the more important. It's almost impossible to understate this.

[iCEBREAKER]

ff - before you sign off on this one can you please confirm that commercially sensitive news that may effect share price will be given to the Board at the same time it is given to the share holders and that is by a post on this thread only? Thanks.

It's Advisory Board appointed by Ken, why do you think Cheerleaders will get inside info?

This Board is merely exist for derailing key topic such as timeline,roadmap, teammember etc, and covering ass of Ken. And their posts are long but with nothing useful.

See, we have Board, we have Ken's phone number,what else are you greedy shareholders worrying about?  becareful,I will add you to my ignore list.

^This one shows potential.

You learn quickly, Grasshopper!

[Phinnaeus Gage]

Hello everyone,

I'm in with ActM but I've to say I've always been suspicious about Ken's reliability. That's why I've sent a lot of e-mails to eASIC to have a confirmation about a relationship between them and VMC, and few days ago I received a reply:



my question:

Dear eASIC,

The Virtual Mining Corporation and his CEO Kenneth Slaughter are claiming that are involved with you to develop a 28nm ASIC chip able to mine bitcoin, and it should be the actual state-of-art in the mining bitcoin field.

I know that these are probably reserved information, but I'd just like to know whether such a relationship exists to avoid scams and inferences about you and the VMC CEO.

the answer:

Hello

I can reveal that we have engaged in discussions with VMC, however those discussions are protected under NDA. Therefore for further details I would suggest you contact VMC directly

///Paul

I hope this is interesting for someone of you

You're late to that party!

https://bitcointalk.org/index.php?topic=158806.msg2605456#msg2605456

Thanks to Jeff Ownby scrubbing the internet, his actions caused me to dig a little deeper. Care to guess where those 28nm chips are coming from?

[Rebelution]

Where?

EDIT:  BFL?

[VolanicEruptor]

phincter gage, not sure exactly what you're getting at.. mind elaborating?  Pretty vague conclusion..