[ActiveMining] The Official Active Mining Discussion Thread

[ChefBorjan]

Your constant suppression of legitimate questions is tiresome. Ken has given a hard date for the end of share tendering when some of us who prefer BTC-TC over Butfunder would like to know if that date would change due to delays in the BTC-TC approval process. We are also curious about dividend payouts for those of us that will be in AMC until there is an ActiveMining offering on BTC-TC, which probably won't happen between now and dividend payouts tomorrow.

These are legitimate questions. Do not tell us to "chill" and better yet, don't even bother replying if you don't know the answer to our question(s) - which is often.

Suppression of questions? I'm sorry, I see no such thing. Where has VBS struck down questions regarding the dividends? Where has he told you to be quiet over the BTC-TC tendering? VBS is one of the more helpful posters around here. What actually happened was this:

Streets 2.0 "I am waiting to tender on BTCT, to give Ken some time, and for the ActiveMining security to be established... unless anyone thinks this is a terrible idea. "

VBS has replied saying: no, don't worry, waiting is not a terrible idea, as Ken has shown that he doesn't want to leave everyone behind and is working to get it done. Burnside even chipped in with comments on how this would happen.

Neither Streets nor VBS said anything out of line, instead its your bizarrely hostile response that stands out. Are you mad at him for pointing people to page one every so often perhaps? Would you prefer he just copy and pastes instead or something? 

Anyway, I've submitted my tender request. I wonder how many Ken will have to get through when he wakes up!

[runeks]

one question - comes Havelock Investments not in consideration?

Because Havelock wouldn't allow this crap most likely...


Are you seriously naming whatever this is AM? As if you weren't enough of an ASICMINER wanna-be already...  

@TAT  Whatever this is, it is going to be a lot bigger that ASICMINER.

I don't think ASICMINER has one of these: 24.576 TH/s, 6 Expansion Cases,  96 256 GH/s boards.

You're right, ASICMINER doesn't have a picture of a Chenbro 4U Open-bay Compact Rackmount Chassis on a website. Primarily because:

1. ASICMINER doesn't have a website
2. ASICMINER doesn't sell Chenbro 4U Open-bay Compact Rackmount Chassis

I mean, let's be honest here. ASICMINER doesn't have a 24.576 TH miner, and neither do you. ASICMINER does, however, have a lot of 10 GH miners, which you don't.

[kleeck]

Your constant suppression of legitimate questions is tiresome. Ken has given a hard date for the end of share tendering when some of us who prefer BTC-TC over Butfunder would like to know if that date would change due to delays in the BTC-TC approval process. We are also curious about dividend payouts for those of us that will be in AMC until there is an ActiveMining offering on BTC-TC, which probably won't happen between now and dividend payouts tomorrow.

These are legitimate questions. Do not tell us to "chill" and better yet, don't even bother replying if you don't know the answer to our question(s) - which is often.

You should really take a chill pill!

You're obnoxious.

Ken has given a hard date for the end of share tendering when some of us who prefer BTC-TC over Butfunder would like to know if that date would change due to delays in the BTC-TC approval process. We are also curious about dividend payouts for those of us that will be in AMC until there is an ActiveMining offering on BTC-TC, which probably won't happen between now and dividend payouts tomorrow.

These are legitimate questions. Do not tell us to "chill" and better yet, don't even bother replying if you don't know the answer to our question(s) - which is often.

Ken is talking with Burnside at the moment to have the shares automagically turn into ActiveMining ones.

So how many companies will we have to follow as holders of AMC, VMC, AM? Seems like all are owned by Ken and feed each other.  Why is one joining another and swapping into a different set of shares? Just to hit that adjusted IPO price? Is a new company going to be formed with each Fast-Hash unit that is made?

Why all the hoops?

I am a little confused as to why this couldn't be handled at the exchange level.  Mergers and buyouts happen on wall street all the time and the exchanges handle things behind the scenes for the shareholders.

Ken, if you need help I'm happy to help transition everyone on AMC-PT to the new issue...  That way noone gets left behind.

Cheers.

You rock burnside! Currently all of mine are on bitfunder but I'd like to have them split between the two

I just PM'd Ken and offered up the assistance of btct.co.  When the new issue is approved we would lock trading on AMC-PT and transfer over all the shares to the new issue.  It'd be painless for everyone involved.

Cheers.

You're awesome! Thank you, Lewicki.

[Vbs]

You're right, ASICMINER doesn't have a picture of a Chenbro 4U Open-bay Compact Rackmount Chassis on a website. Primarily because:

1. ASICMINER doesn't have a website
2. ASICMINER doesn't sell Chenbro 4U Open-bay Compact Rackmount Chassis

I mean, let's be honest here. ASICMINER doesn't have a 24.576 TH miner, and neither do you. ASICMINER does, however, have a lot of 10 GH miners, which you don't.

Do we really need to go the bashing route? More than one business following the Asicminer model is a good thing, not a bad one. That is just a pic of the main chassis that the upcoming miners will use.

[navitatl]

Got my swapped shares successfully. I'm hanging on, it will be interesting to see how the next few months play out. Hoping the best for the ActiveMiner team.

[themagicdrake]

So, how long is it taking for shares to be swapped?

[matuszed]

So, how long is it taking for shares to be swapped?

I got most of mine done last night.  I did it in two batches just to be safe.  Ken's doing them by hand so I'm assuming sometime today he'll start back again with the transfer.  It kind of depends how big the queue is now for people waiting to transfer.

[kslaughter]

So, how long is it taking for shares to be swapped?

Taking a short break from doing the transfers, the queue is about 6 hours behind right now.

[gambit1]

How do I transfer shares on btc-tc?

[kslaughter]

How do I transfer shares on btc-tc?

At the moment you can only transfer AMC-PT to a bitfunder account.  We will be applying for ActiveMining to be
traded on BTC-TC, if and when approved, they have an automatic system for transferring the shares.

[lewicki]

You're right, ASICMINER doesn't have a picture of a Chenbro 4U Open-bay Compact Rackmount Chassis on a website. Primarily because:

1. ASICMINER doesn't have a website
2. ASICMINER doesn't sell Chenbro 4U Open-bay Compact Rackmount Chassis

I mean, let's be honest here. ASICMINER doesn't have a 24.576 TH miner, and neither do you. ASICMINER does, however, have a lot of 10 GH miners, which you don't.

It's really interesting reading some of these comments. Right now, investing in ActiveMining would be seen as too high of a risk for some; which comments like the above reflect. Nevermind when AMC didn't even have an Avalon actually mining back in April/May.

As more of AM's promises come to fruition, AM's price will, again rise (or fall) to reflect the risk involved with investing. And that's OK.

What we have to look forward to in the near future (cross-post from the AMC thread):

AM is currently Hashing at 426.53 GH/s http://www.btcguild.com/index.php?page=rankings&section=teams with a weekly dividend of .00000139 spread over 40 million shares. This translates to 55.6 BTC per week. Wording in the AM contract is left with the vague impression that only the shares sold so far will recieve dividends. And with only 6 million shares sold at the moment, dividends split 40 million ways, has been reduced to 6M or 6.6x the current dividend pay per share. So, .00000139/share becomes about .00000926/share

Soon(tm) - hopefully sometime this month (300GH of Klondikes will be arriving). At current difficulty, payout becomes .000016205/share

Other things to be looking forward to:

• 20,000 Avalon chips -  (end of May and beginging of June orders), for a combined hashrate of 20,000*282 = 5,640 GH/s will be coming online late August.
• Avalon prototype boards - The engineering firm that he employed for the boards has the 60 sample chips from the 2 avalon chip bulk orders, pictures will be coming for those when he gets his hands on them within 2 weeks. There are 20,000 of them incoming. Avalon will start shipping the chips at the beginning of July. AMC has pre-orders a for a few of these, the rest will be built and mined by AM
• AM's proprietary chip - AM has a contract with eASIC to develop their own chip. If we raise money for the chip's NRE, we can start printing them out at cost
• Storage - Springfield Underground is currently for sale. AM is looking into acquiring it to host all of AMC's mining needs when the need arises.
• When do I get my money? - 100% of profit through sales and mining are given to the first 10 million shares sold until .0025BTC is payed per share. I suppose there is a duality here. The less shares sold, the greater the dividends. But on the other side of the coin, the more shares sold, the quicker AM can print their own money with their chip.
• What happens after the .0025BTC/share is paid off? - After 100% of the promise is paid off in the form of dividends, AM will activate their shares and 25Million shares will then start recieving dividends. Up until this point AM will have not been recieving any money.

[kslaughter]

...Whatever this is, it is going to be a lot bigger than ASICMINER.

I don't think ASICMINER has one of these: 24.576 TH/s, 6 Expansion Cases,  96 256 GH/s boards.

You're right, ASICMINER doesn't have a picture of a Chenbro 4U Open-bay Compact Rackmount Chassis on a website. Primarily because:

1. ASICMINER doesn't have a website
2. ASICMINER doesn't sell Chenbro 4U Open-bay Compact Rackmount Chassis

I mean, let's be honest here. ASICMINER doesn't have a 24.576 TH miner, and neither do you. ASICMINER does, however, have a lot of 10 GH miners, which you don't.

Yes, let's be honest we are going to build these and when we do, how may of those 10 GH/s miners will it take to make 1 of these, the answer is 2,457 and these will use a lot less power to boot.

[kslaughter]

You're right, ASICMINER doesn't have a picture of a Chenbro 4U Open-bay Compact Rackmount Chassis on a website. Primarily because:

1. ASICMINER doesn't have a website
2. ASICMINER doesn't sell Chenbro 4U Open-bay Compact Rackmount Chassis

I mean, let's be honest here. ASICMINER doesn't have a 24.576 TH miner, and neither do you. ASICMINER does, however, have a lot of 10 GH miners, which you don't.

It's really interesting reading some of these comments. Right now, investing in ActiveMining would be seen as too high of a risk; which comments like the above reflect. Nevermind when AMC didn't even have an Avalon actually mining back in April/May.

As more of AM's promises come to fruition, AM's price will, again rise (or fall) to reflect the risk involved with investing. And that's OK.

What we have to look forward to in the near future (cross-post from the AMC thread):

AM is currently Hashing at 426.53 GH/s http://www.btcguild.com/index.php?page=rankings&section=teams with a weekly dividend of .00000139 spread over 40 million shares. This translates to 55.6 BTC per week. Wording in the AM contract is left with the vague impression that only the shares sold so far will recieve dividends. And with only 6 million shares sold at the moment, dividends split 40 million ways, has been reduced to 6M or 6.6x the current dividend pay per share. So, .00000139/share becomes about .00000926/share

@lewicki  Nice work, great post.

l

Soon(tm) - hopefully sometime this month (300GH of Klondikes will be arriving). At current difficulty, payout becomes .000016205/share

Other things to be looking forward to:

• 20,000 Avalon chips -  (end of May and beginging of June orders), for a combined hashrate of 20,000*282 = 5,640 GH/s will be coming online late August.
• Avalon prototype boards - The engineering firm that he employed for the boards has the 60 sample chips from the 2 avalon chip bulk orders, pictures will be coming for those when he gets his hands on them within 2 weeks. There are 20,000 of them incoming. Avalon will start shipping the chips at the beginning of July. AMC has pre-orders a for a few of these, the rest will be built and mined by AM
• AM's proprietary chip - AM has a contract with eASIC to develop their own chip. If we raise money for the chip's NRE, we can start printing them out at cost
• Storage - Springfield Underground is currently for sale. AM is looking into acquiring it to host all of AMC's mining needs when the need arises.
• When do I get my money? - 100% of profit through sales and mining are given to the first 10 million shares sold until .0025BTC is payed per share. I suppose there is a duality here. The less shares sold, the greater the dividends. But on the other side of the coin, the more shares sold, the quicker AM can print their own money with their chip.
• What happens after the .0025BTC/share is paid off? - After 100% of the promise is paid off in the form of dividends, AM will activate their shares and 25Million shares will then start recieving dividends. Up until this point AM will have not been recieving any money.

[forensick]

You're right, ASICMINER doesn't have a picture of a Chenbro 4U Open-bay Compact Rackmount Chassis on a website. Primarily because:

1. ASICMINER doesn't have a website
2. ASICMINER doesn't sell Chenbro 4U Open-bay Compact Rackmount Chassis

I mean, let's be honest here. ASICMINER doesn't have a 24.576 TH miner, and neither do you. ASICMINER does, however, have a lot of 10 GH miners, which you don't.

It's really interesting reading some of these comments. Right now, investing in ActiveMining would be seen as too high of a risk; which comments like the above reflect. Nevermind when AMC didn't even have an Avalon actually mining back in April/May.

As more of AM's promises come to fruition, AM's price will, again rise (or fall) to reflect the risk involved with investing. And that's OK.

What we have to look forward to in the near future (cross-post from the AMC thread):

AM is currently Hashing at 426.53 GH/s http://www.btcguild.com/index.php?page=rankings&section=teams with a weekly dividend of .00000139 spread over 40 million shares. This translates to 55.6 BTC per week. Wording in the AM contract is left with the vague impression that only the shares sold so far will recieve dividends. And with only 6 million shares sold at the moment, dividends split 40 million ways, has been reduced to 6M or 6.6x the current dividend pay per share. So, .00000139/share becomes about .00000926/share

Soon(tm) - hopefully sometime this month (300GH of Klondikes will be arriving). At current difficulty, payout becomes .000016205/share

Other things to be looking forward to:

• 20,000 Avalon chips -  (end of May and beginging of June orders), for a combined hashrate of 20,000*282 = 5,640 GH/s will be coming online late August.
• Avalon prototype boards - The engineering firm that he employed for the boards has the 60 sample chips from the 2 avalon chip bulk orders, pictures will be coming for those when he gets his hands on them within 2 weeks. There are 20,000 of them incoming. Avalon will start shipping the chips at the beginning of July. AMC has pre-orders a for a few of these, the rest will be built and mined by AM
• AM's proprietary chip - AM has a contract with eASIC to develop their own chip. If we raise money for the chip's NRE, we can start printing them out at cost
• Storage - Springfield Underground is currently for sale. AM is looking into acquiring it to host all of AMC's mining needs when the need arises.
• When do I get my money? - 100% of profit through sales and mining are given to the first 10 million shares sold until .0025BTC is payed per share. I suppose there is a duality here. The less shares sold, the greater the dividends. But on the other side of the coin, the more shares sold, the quicker AM can print their own money with their chip.
• What happens after the .0025BTC/share is paid off? - After 100% of the promise is paid off in the form of dividends, AM will activate their shares and 25Million shares will then start recieving dividends. Up until this point AM will have not been recieving any money.

Would be nice to get those increased dividends

[grimholt]

Public investor's protection plan
The first 10,000,000 ActiveMining shares have the privilege of getting all profits until BTC0.0025/share is paid, starting from the day when dividends begin to be paid.

This is probably a stupid question, but this means that the first 10 million shares will get all profits until BTC0.0025/share is paid in total?

As we have now received a total of BTC0.00000397/share, this leaves 0.00250000 - 0.00000397 = 0.00249603 BTC to be paid per share, right..?

[navitatl]

I think as soon as the higher dividends start hitting, the remaining shares will be snapped up and NRE costs will be in the bag. Would be nice to get the process started ASAP, but I guess people need to see more money before they'll have faith. I'd buy up those 2 million shares if I had that kind of cash!

[Vbs]

Public investor's protection plan
The first 10,000,000 ActiveMining shares have the privilege of getting all profits until BTC0.0025/share is paid, starting from the day when dividends begin to be paid.

This is probably a stupid question, but this means that the first 10 million shares will get all profits until BTC0.0025/share is paid in total?

As we have now received a total of BTC0.00000397/share, this leaves 0.00250000 - 0.00000397 = 0.00249603 BTC to be paid per share, right..?

Those were AMC dividends, not ActiveMining ones!

[lewicki]

I think as soon as the higher dividends start hitting, the remaining shares will be snapped up and NRE costs will be in the bag. Would be nice to get the process started ASAP, but I guess people need to see more money before they'll have faith. I'd buy up those 2 million shares if I had that kind of cash!

My thoughts as well, once we start chewing on .0025 it will start getting rabid.

[grimholt]

Public investor's protection plan
The first 10,000,000 ActiveMining shares have the privilege of getting all profits until BTC0.0025/share is paid, starting from the day when dividends begin to be paid.

This is probably a stupid question, but this means that the first 10 million shares will get all profits until BTC0.0025/share is paid in total?

As we have now received a total of BTC0.00000397/share, this leaves 0.00250000 - 0.00000397 = 0.00249603 BTC to be paid per share, right..?

Those were AMC dividends, not ActiveMining ones!

Ah, of course. MOAR DIVIDENDS FOR US!

[ChefBorjan]

Let's hope that happens sooner rather than later! Part of me wishes I could be braver and put more in, but I'll hold out at several thousand shares for now.