[ActiveMining] The Official Active Mining Discussion Thread

[ffssixtynine]

To reiterate, it's not a money or time thing to Ken, he is just happy with how his site and how it is performing.

As a shareholder, a significantly large one, that is simply scary.

Well it depends how it's performing and he's also said he will update the site. When I say happy with it, I didn't mean he thinks it's all fine and dandy, just that it'll do for now (we disagree, but then he has all the stats and we don't).

We've said this before - please contact Ken if you have strong feelings about the website but please also be respectful.

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[ffssixtynine]

re: share price - I'd like to get some more into BTCT (including personally). I've given Ken some options and to be fair he's offered to move a proportion of shares of the advisers over as we've been doing a shedload of work unpaid (VE paid $5k for this not so long ago) and couldn't do any trading pre-eASIC announcement due to being on the board (so we bought at 0.0025ish, and that's where the price is now).

I don't mean to sound ungrateful but did you really each do ~$5k worth of work? May I ask what on? How many advisors are we talking about here? And you couldn't do any trading? Not even set an ask order?

My own thoughts are if it happens, it should be a once-off opportunity open to everyone to transfer the shares. Anyhow, don't mean to bust your balls over your thoughtful reply, thanks for what you do and sharing this info.

Mate, it's been an awful lot more than that as it happens, not that a share trade is worth $5k (Tat's are to be 1 BTC I believe and I'd want them free if just a one off).

It'd also need to be limited both to be fair to BTCT and to keep the work limited for Ken.

Anyway, it's all moot if he doesn't go for it. If that's the case, what about ways for a third party fund to manage it perhaps?

(I hope you guys understand that I knew this topic would be tricky to raise in public but I did so because I think it needs to be an open discussion.)

Edit: The only trading I did was to reinvest my little ActM dividends. Anything else could have been seen the wrong way.

[EskimoBob]

Up to date summary schedule AFAIK:

Current
PCIE/USB boards for eAsic chips under development by specialized engineering firm
R&D on chip hashing/power improvements until metal layer sign off is needed

Scheduled
October: Sample chips & Low-volume process
Mid-November: High-volume process and Customer delivery (from mid-november onwards)

Unknown
Awaiting Avalon delivery for Klondikes

(the 20k avalon chips were cancelled)

Also, as a reminder, the first 0.0025 of shares will be repaid in full before ActiveMining take out any profit.

Thank you for the update, but this is only part of the picture. 
What about the rest:

What if we attempt to be more constructive?

At the moment, Actm need to clean up this PR mess. Clearing up this mess, will clear up a lot of other BS.

So, I propose the following (this is addition to what ever you guys are doing over there):

1  Make a short term list for the next 2 weeks (all tasks must be fully completed in next 2 weeks)  – [publishing date]
   1.1  get the accounting in order – [date]
      1.1.1  and publish financial statements – [date]
1.2  Get the project plan in order and give short but clear statement to shareholders (do not hide fuck up's)  successes, failures, status of failures as of now – [date]
   1.3  publish the updated roadmap for next 3 weeks – [date]
      1.3.1  and 3 months.  – [date]
  1.4  Publish a list potential risks involved at current stage and what is your estimate for those risks to materialize (0%-100%)

Can you do all that in one week?
(this is actually 1-2 days, with <40% workload, worth of work, unless this is the first time)

[ffssixtynine]

EskimoBob, you're mostly asking questions only VC's or Angel's get to ask (and under strict confidentiality clauses at that).

If you want to invest a big wedge of cash with Ken directly and as a private investor, you can require access to those details. As someone with a virtual share, no. Nor do I have access, nor does anyone other than the company execs. So contact Ken directly and offer him $500k+ and you'll have your answers. Kidding, but you get the idea.

I'm not going to answer this one again as I've done so at least once before, if not twice.

[carpetbagger]

Fair enough ffs69, like I said, thanks for whatever you are doing. I missed a big chunk of the middle of this thread so I probably missed it like the PR thing.

How about some kind of (minimal/reasonable/realistic) fee for transfers?

[EskimoBob]

EskimoBob, you're mostly asking questions only VC's or Angel's get to ask (and under strict confidentiality clauses at that).

If you want to invest a big wedge of cash with Ken directly and as a private investor, you can require access to those details. As someone with a virtual share, no. Nor do I have access, nor does anyone other than the company execs. So contact Ken directly and offer him $500k+ and you'll have your answers. Kidding, but you get the idea.

I'm not going to answer this one again as I've done so at least once before, if not twice.

LOL! Are you high right now? There is NOTHING secret about fkn balance sheet, especially, if Actm asked money via exchange - openly. Virual or not. I am not asking to see the general ledger with every transaction. Is it possible, your lot has no idea wtf balance sheet actually is and how it looks like? What a load of bull shit!
Amazing!

PS! Seriously ffssixtynine, you are yapping about topics way above you competence level and should stfu, before you make it worst than it is.

[ffssixtynine]

PS! Seriously ffssixtynine, you are yapping about topics way above you competence level and should stfu, before you make it worst than it is.

Ken -does- need to provide the accounts he promised monthly but he doesn't and shouldn't be providing most of the rest of that info. And if you want to talk competence, I've won 3 awards this year for business and just been nominated for best UK digital entrepreneur in my sector.

And this is where you hit my ignore list. Congratulations on making sure you don't get your few good points heard.

[ffssixtynine]

Fair enough ffs69, like I said, thanks for whatever you are doing. I missed a big chunk of the middle of this thread so I probably missed it like the PR thing.

How about some kind of (minimal/reasonable/realistic) fee for transfers?

I suggested that. He doesn't want to have to spend time on it.

[EskimoBob]

PS! Seriously ffssixtynine, you are yapping about topics way above you competence level and should stfu, before you make it worst than it is.

Ken -does- need to provide the accounts he promised monthly but he doesn't and shouldn't be providing most of the rest of that info. And if you want to talk competence, I've won 3 awards this year for business and just been nominated for best UK digital entrepreneur in my sector.

And this is where you hit my ignore list. Congratulations on making sure you don't get your few good points heard.

OMfG! He put me on his ignore list...    You understand, that this resolves nothing ans is as good as hiding your head under the sand. Keep clicking that "Show/Hide" button.

"digital entrepreneur in my sector" what dose it even mean? Selling large furry buttons on your web site?

[jinyoubei]

Thanks for the update ffs69.

I am a little confused here. If I invest ActiveMining now which is below 0.0025 on bitfunder.com, will I get 0.0025 on dividend return eventually? (If everything is going as planned of course.)

In other words, some of that 0.025 has already been paid out, so how much is left per share?

I think basically 0.00249xxxxx!

The price will bounce around with news (PR would be helpful here for sure) but they are certainly inherently worth the original asking price given that the eASIC deal has been confirmed.

[ffssixtynine]

Thanks for the update ffs69.

I am a little confused here. If I invest ActiveMining now which is below 0.0025 on bitfunder.com, will I get 0.0025 on dividend return eventually? (If everything is going as planned of course.)

There are 25 million shares. 10 million shares receive the profits until each share has received 0.0025 BTC. After that, profits are split 25 million ways instead of 10 million ways.

So yes you'll get that back if you hold the shares for the time period required (and the profit allows of course).

[crumbs]

Yesss...  Heady times, making one ask:  What, exactly, does the ActM share represent?

[jinyoubei]

How many shares have been sold on bitfunder.com and btct.co already? 10 million?

Thanks for the update ffs69.

I am a little confused here. If I invest ActiveMining now which is below 0.0025 on bitfunder.com, will I get 0.0025 on dividend return eventually? (If everything is going as planned of course.)

There are 25 million shares. 10 million shares receive the profits until each share has received 0.0025 BTC. After that, profits are split 25 million ways instead of 10 million ways.

So yes you'll get that back if you hold the shares for the time period required (and the profit allows of course).

[stereotype]

EskimoBob, you're mostly asking questions only VC's or Angel's get to ask (and under strict confidentiality clauses at that).

If you want to invest a big wedge of cash with Ken directly and as a private investor, you can require access to those details. As someone with a virtual share, no. Nor do I have access, nor does anyone other than the company execs. So contact Ken directly and offer him $500k+ and you'll have your answers. Kidding, but you get the idea.

I'm not going to answer this one again as I've done so at least once before, if not twice.

You/Ken are just avoiding pertinent questions by making shit up, and making excuses as you go along now.  

The request for a more meaningful and scheduled plan (with achievement dates) still stands.

[thefunkybits]

I think splitting the 10 million public shares between Bitfunder and BTCT is fair. I personally have half on each anyways. Everyone is saying Bitfunder is undervalued but what if BTCT is overvalued. The demand on BTCT is far greater with a limited supply, this taints the price. The only way to tell would be to split the shares evenly, or to let people go back and forth freely for a fee (I dont see why Ken has to do all the share swapping)

[bobsag3]

PS! Seriously ffssixtynine, you are yapping about topics way above you competence level and should stfu, before you make it worst than it is.

Ken -does- need to provide the accounts he promised monthly but he doesn't and shouldn't be providing most of the rest of that info. And if you want to talk competence, I've won 3 awards this year for business and just been nominated for best UK digital entrepreneur in my sector.

And this is where you hit my ignore list. Congratulations on making sure you don't get your few good points heard.

OMfG! He put me on his ignore list...    You understand, that this resolves nothing ans is as good as hiding your head under the sand. Keep clicking that "Show/Hide" button.

"digital entrepreneur in my sector" what dose it even mean? Selling large furry buttons on your web site?

Pretty sure if this was run like any other public company and not "special" because of bitcoins he would have to follow some standard discloser rules... and until he acts like he runs a mature company, he wont get any of my money.

[drawingthesun]

PS! Seriously ffssixtynine, you are yapping about topics way above you competence level and should stfu, before you make it worst than it is.

Ken -does- need to provide the accounts he promised monthly but he doesn't and shouldn't be providing most of the rest of that info. And if you want to talk competence, I've won 3 awards this year for business and just been nominated for best UK digital entrepreneur in my sector.

And this is where you hit my ignore list. Congratulations on making sure you don't get your few good points heard.

OMfG! He put me on his ignore list...    You understand, that this resolves nothing ans is as good as hiding your head under the sand. Keep clicking that "Show/Hide" button.

"digital entrepreneur in my sector" what dose it even mean? Selling large furry buttons on your web site?

Pretty sure if this was run like any other public company and not "special" because of bitcoins he would have to follow some standard discloser rules... and until he acts like he runs a mature company, he wont get any of my money.

He doesn't get any more money from shares, his got all the money he needs. Buying shares goes to a random stranger.

[ffssixtynine]

Pretty sure if this was run like any other public company and not "special" because of bitcoins he would have to follow some standard discloser rules... and until he acts like he runs a mature company, he wont get any of my money.

No company needs or wants (or often legally is able) to disclose internal project management documents and provide task details etc which is what EskimoBob is asking for. If this were a 'regular' company, it would not be any different.

ActiveMining aren't looking for investors. If they were then they'd have to decide what to release and some of this would be different.

Neither you, I, nor anyone else has any say in the running of the company. We are not VCs or Angels, we're people trading in shares. It seems some people genuinely don't understand what they're actually trading in.

The core plan was laid out, people invested, the plan is being followed. So I have to wonder why certain people keep dredging up the same trash instead of things which have legitimate questions.

[iCEBREAKER]

As a shareholder, a significantly large one, that is simply scary.

It shows a serious lack of judgment on Ken's part. It's one thing to be an engineer, it's another to try to run a business ... and as time progresses, it is becoming more and more evident that he not only does not have any skills in other areas of business, but worse, he is not willing to acknowledge that and bring in people who DO know what they are doing.

   You think that's bad?  There are much worse obstacles in ACTM's path than a website made by Grandpa Simpson and Hans Moleman.

Here's a great example, breaking on Coindesk:

http://www.coindesk.com/hashfast-tapes-out-400-ghsec-28-nm-mining-chip/

The firm is already well into development for its second-generation chip, which uses a FinFet design. FinFet uses 3D structures, in which the microscopic transistors on the chip rise above the planar substrate on the chip. This gives them more volume than a traditional transistor gate, which enables them to conduct electricity more effectively, reducing the necessary voltage and increasing switching performance. The result is a faster, lower-power chip.

“It’s the most aggressive design available in our time schedules,” said Barber, who believes he’ll be taping out this chip in the fourth quarter. He wouldn’t say what process node the design used, but CoinDesk notes that last year, TMSC announced plans for a 16 nm FinFet capability in early 2014.

Will ACTM have a sub-28 nm FinFet design taped out this year?  No, not a change in Hell that's going to happen! 

BTCT's price is artificially inflated by their small supply of shares.  The real price is on Bitfunder, where investors no longer believe ACTM will even repay the 0.0025 IPO value.

Get out now Bigdude, before we have to start calling you BigLoss.   

[stereotype]

Pretty sure if this was run like any other public company and not "special" because of bitcoins he would have to follow some standard discloser rules... and until he acts like he runs a mature company, he wont get any of my money.

No company needs or wants (or often legally is able) to disclose internal project management documents and provide task details etc which is what EskimoBob is asking for. If this were a 'regular' company, it would not be any different.

ActiveMining aren't looking for investors. If they were then they'd have to decide what to release and some of this would be different.

Neither you, I, nor anyone else has any say in the running of the company. We are not VCs or Angels, we're people trading in shares. It seems some people genuinely don't understand what they're actually trading in.

The core plan was laid out, people invested, the plan is being followed. So I have to wonder why certain people keep dredging up the same trash instead of things which have legitimate questions.

What legitimate questions should we be asking, ffssixtynine?