[ActiveMining] The Official Active Mining Discussion Thread

[neilol]

Guys, can we not reply to Icebreaker et al here. Those posts are for the speculation thread or PM, not for here.

More feedback on the avalon situation would be appreciated.

It's actually quite simple. If the company can't make better use of its capital than shareholders, it should go out of business. This isn't a widow / orphan stock, it's a start up tech company where presumably every dollar / coin can be put to use.

Any return of capital, at this point, will be taken as an admission that the company has no confidence in its own ability to deploy capital to increase shareholder wealth.

Very well put,

It should go directly into speeding up or ordering more of NDA™

Well put - it would be worth investigating if cash would speed up the process at eASIC..paying for overtime or something. Literally every day we shave off the process at this point would be worth serious cash.

[N_S]

Guys, can we not reply to Icebreaker et al here. Those posts are for the speculation thread or PM, not for here.

More feedback on the avalon situation would be appreciated.

It's actually quite simple. If the company can't make better use of its capital than shareholders, it should go out of business. This isn't a widow / orphan stock, it's a start up tech company where presumably every dollar / coin can be put to use.

Any return of capital, at this point, will be taken as an admission that the company has no confidence in its own ability to deploy capital to increase shareholder wealth.

Very well put,

It should go directly into speeding up or ordering more of NDA™

Well put - it would be worth investigating if cash would speed up the process at eASIC..paying for overtime or something. Literally every day we shave off the process at this point would be worth serious cash.

Getting this NDA is the rearview mirror should definitely be a priority. I'm not sure if it's something money can help, although it's certainly possible.

I'd submit that the NDA is the single biggest source of skepticism surrounding ActM.

[redbeans2012]

What if Activemining used some of the funds to buyback shares? 

[Stuartuk]

Well put - it would be worth investigating if cash would speed up the process at eASIC..paying for overtime or something.

You should be on the Board that's a seriously good idea. I'm sure eASIC are working to an agreed deadline, but can that be brought forward if more resources are thrown at the project?

[Stuartuk]

What if Activemining used some of the funds to buyback shares?  

I think you should explain how that would help anybody because I don't know how it could - no offence.

[zumzero]

I vote for 100% refund and an opportunity to increase the number of shares I own by 0.5%.

We all have our own opinions and logic, I see success in the same time frame regardless of a possible reinvest.

If this stock increases in value forty fold, then those extra 0.5% shares I own will have been bitcoin well spent.

[Pale Phoenix]

Agree. The website really needs a refresh.

I haven't looked into the shopping cart too deeply, but the website does seem clunky. Since time is of the essence, has anyone considered using Shopify or something like it to get a modern, simple site up quickly?

[redbeans2012]

What if Activemining used some of the funds to buyback shares?  

I think you should explain how that would help anybody because I don't know how it could - no offence.

It makes each share worth more if they buy them back and retire them.

[Stuartuk]

I vote for 100% refund and an opportunity to increase the number of shares I own by 0.5%.

We all have our own opinions and logic, I see success in the same time frame regardless of a possible reinvest.

If this stock increases in value forty fold, then those extra 0.5% shares I own will have been bitcoin well spent.

I think we need to see what Ken says on this. If he thinks reinvesting the money will speed things up I'll go with that. Again, speed to market is crucial.

[Stuartuk]

What if Activemining used some of the funds to buyback shares?  

I think you should explain how that would help anybody because I don't know how it could - no offence.

It makes each share worth more if they buy them back and retire them.

OK but that would also reduce liquidity and require a re-write of the entire agreement with shareholders. It would just squeeze share supply and as there are no buyers right now it's not guaranteed to raise share price.

[N_S]

Again, speed to market is crucial.

+1

[Pale Phoenix]

I vote for 100% refund and an opportunity to increase the number of shares I own by 0.5%.

We all have our own opinions and logic, I see success in the same time frame regardless of a possible reinvest.

If this stock increases in value forty fold, then those extra 0.5% shares I own will have been bitcoin well spent.

We're in an all out race against serious competitors, who seem to be well ahead in name recognition and sales, and very possibly production. Every single day counts now and, to my knowledge, we don't even have a proper website or visible sales rep.

You may want an extra .5% of shares, but I'm more interested in turning this into an actual functioning company with real products and a real datacenter full of machines hashing away, as soon as humanly possible. I don't think that you appreciate how important time to market is for the overall success of this venture.

Edit: Stuart just mentioned it too... but it can't be stated enough. Time to market will make us or break us.

[ffssixtynine]

Agree. The website really needs a refresh.

We've moved heaven and earth on that front, but we're only going to get tweaks and bug fixes in the immediate future. We've supplied a very large number of those, particularly to try and make the store less of a clunkfest and to get visitors where they need to go quicker.

Ken wants to keep his current site as he doesn't want to risk changes at the moment,  although he does accept it needs some minor improvement. He definitely has a typical engineer's view of it - he doesn't see the quality of it or how difficult it is to understand and use. He also says customers are happy with the store.

If you have feedback on the current site then send him a PM.

[Ozymandias]

My vote would absolutely be for reinvestment. Someone did the math earlier that the ~1500btc could translate into 240th/s of chips which at a network hashrate of 10ph/s would be 2.4% of the network and pay itself back in 3-5 months (and be straight profit after that) assuming a less steep difficultly growth 7-8 months from now.

[Ozymandias]

Agree. The website really needs a refresh.

We've moved heaven and earth on that front, but we're only going to get tweaks and bug fixes in the immediate future. We've supplied a very large number of those, particularly to try and make the store less of a clunkfest and to get visitors where they need to go quicker.

Ken wants to keep his current site as he doesn't want to risk changes at the moment,  although he does accept it needs some minor improvement. He definitely has a typical engineer's view of it - he doesn't see the quality of it or how difficult it is to understand and use. He also says customers are happy with the store.

If you have feedback on the current site then send him a PM.

In a related note, can it be shared with us what our status on pre-orders is? As in how many have been made and, if any, refunded?

[ffssixtynine]

In a related note, can it be shared with us what our status on pre-orders is? As in how many have been made and, if any, refunded?

That's something to do a short while after the eASIC announcement in order to keep the PR ball rolling. You need to keep the press going.

[zumzero]

I vote for 100% refund and an opportunity to increase the number of shares I own by 0.5%.

We all have our own opinions and logic, I see success in the same time frame regardless of a possible reinvest.

If this stock increases in value forty fold, then those extra 0.5% shares I own will have been bitcoin well spent.

I made a wee mistake it's not 0.5%, it actually ten time that at 5%.

So that one new share for every 20 you own at current prices.

[afrotec]

I think it's pretty clear: a massive div payout would mostly benefit the speculators and short termers, while reinvesting the funds ultimately benefits the company and in turn the long-term shareholders.

That being said, I think the obvious avenue for the board to pursue (who's purpose is to represent long-term shareholders) would be to reinvest the funds.

I think there are several things that need to be addressed at this point:

We need to work on building a solid brand. We need a clean, cool logo. We need completely new website. We need to have a coherent line of products, and market them appropriately to gain some much needed public exposure.

I think those issues should be addressed before other more substantial investments like ordering additional chips, since the company's success depends greatly on those several important things.

But a proper budget for those ideas would still probably leave a great deal of funds left for further investment.

Thinking about what to do with the rest of the coinage, we can ask ourselves, what does ActiveMining do? ActiveMining makes chips for retail sale and it's own mining operation. So then it seems clear that that the funds should be spent on... making chips to sell and use for the mining operation. I don't think it's as simple as just picking up the phone and saying "Moar chipz pls!", but this is definitely by far the most logical use of the freed up funds.

Several weeks ago, we were thinking that these funds were basically lost. Now we can be basically sitting on a pile of liquid coin. I think ActM is in an incredibly good position, provided the funds can be used properly

[ffssixtynine]

The work is visible and it's a good direction but imho some minor tweaks could go a long way. The logo on top seems a bit off to me. I'm just a website user but if you compare similar sites they appear a step above VMC.

The next person to mention the logo is going to get ..... something.

I think it may have got fixed a bit, but not properly. It's still on the very lengthy website to-do list they have from us.

At least we've got rid of a lot of the superfluous store stuff (much more to go) and had the text rewritten.

Please give it another day or two then contact us with bugs or use issues and we'll stack them up and pass them on. There have been so many that we're bound to have missed some.

[ffssixtynine]

We need to work on building a solid brand. We need a clean, cool logo. We need completely new website. We need to have a coherent line of products, and market them appropriately to gain some much needed public exposure.

Every single one of your points heavily advised (more than you possibly imagine as Ken will attest to) and some of which are being acted on. We'll keep working on the rest.