[ActiveMining] The Official Active Mining Discussion Thread

[lewicki]

Apologies for not understanding entirely...

I hold shares of AMC on bitfunder.  How do I do this:

On BitFunder.Com:

1). Tender our AMC shares by pushing the shares to AMC-TENDER.
Your AMC shares will then be tendered for ActiveMining shares.
2).  Then email the above information to tender@activeminingcorp.com

What is AMC-TENDER?

How does one "push" shares?

Thank you,
Dave

Don't do it now though. Wait for the dividends to come out tomorrow before you transfer your shares to AMC-TENDER. The deadline to transfer your shares before dividends tomorrow was 1pm Wed. If you don't, your shares will be stuck in limbo and you won't receive anything.

[Technologov]

1. Is the conversion from AMC -> ActM shares automatic ?
1.a. What is AMC-TENDER ?
2. What is the estimated time-frame for glueing the 20,000 Avalon ASIC chips into motherboards and building working systems from them ?

[lewicki]

1. Is the conversion from AMC -> ActM shares automatic ?
1.a. What is AMC-TENDER ?
2. What is the estimated time-frame for glueing the 20,000 Avalon ASIC chips into motherboards and building working systems from them ?

First page has everything you need.

1) Conversion of AMC->ActiveMiner shares is not automatic. Transfer your AMC shares to the user AMC-TENDER on Bitfunder tomorrow after Divs are paid out (the deadline for transfer before AM/AMC divs are paid this week was yesterday at 1pm CST).  Then send an email as stated on this first page of this thread. If you send them now you will not receive divs. Conversion of AMC-PT shares is on hold until ActiveMiner is approved on BTC-TC. Do no send anything if this is the case.

1a) AMC-TENDER is the account name that is accepting the AMC shares. After sending your shares to that account, send an email (check the first page for details) letting Ken know how many shares you sent and at which time, etc. Within a day you will be sent ActiveMiner shares.

2) Chips are shipping as we speak. Prototype will be complete the week of July 21st I believe. Complete Avalon clones will be done sometime in August.

[finlof]

Clearly ken's response means that he does not plan to pay out dividends. Oh well time to see what effect this has on the stock price.


The main problem is that there will be little to no accountability on whatever happens to these pre-order sales figures.

I plan on pay dividends and a lot of them.  I want to make all the Investors in AM very successful, because if the Investors are successful I will be successful.

Sorry my statement was unclear. Obviously you intend to pay out dividends.

What I meant to say was that you are not going to be factoring the pre-sale revenue into the dividend payout.

paying dividends on a pre-order would be like paying dividends on a business loan.  as a business owner i cant even fathom thinking as you all are thinking.  i would have run my business into the ground years ago if i practiced the accounting principles floates and volcanic are suggesting.  seriously guys yall need to chill the fuck out and quit assuming you know how to run a business without doing a little research 1st...

[Vbs]

For me, this part is very clear and makes perfect sense:

(...)
https://en.wikipedia.org/wiki/Revenue_recognition

The revenue recognition principle is a cornerstone of accrual accounting together with matching principle. They both determine the accounting period, in which revenues and expenses are recognized. According to the principle, revenues are recognized when they are realised or realisable, and are earned (usually when goods are transferred or services rendered), no matter when cash is received. In cash accounting – in contrast – revenues are recognized when cash is received no matter when goods or services are sold.

Basically, revenue recognition vs. cash accounting.

[lewicki]

For me, this part is very clear and makes perfect sense:

(...)
https://en.wikipedia.org/wiki/Revenue_recognition

The revenue recognition principle is a cornerstone of accrual accounting together with matching principle. They both determine the accounting period, in which revenues and expenses are recognized. According to the principle, revenues are recognized when they are realised or realisable, and are earned (usually when goods are transferred or services rendered), no matter when cash is received. In cash accounting – in contrast – revenues are recognized when cash is received no matter when goods or services are sold.

Basically, revenue recognition vs. cash accounting.

Which also means that sometime in August we might get dumped on with a huge dividend (from this sale, and future ones between now and then).

[neilol]

I own the original shares on BTCT..am I missing dividends if I wait to tender? Is there any gain from tendering ASAP or should I just wait until the second security is approved? Can't sort that out from reading Ken's posts

[bougelahi]

I own the original shares on BTCT..am I missing dividends if I wait to tender? Is there any gain from tendering ASAP or should I just wait until the second security is approved? Can't sort that out from reading Ken's posts

If your shares are on BTCT, they will be transferred to ActiveMining shares automatically after the second listing is approved. You shouldn't tender, just wait

[Streets 2.0]

I own the original shares on BTCT..am I missing dividends if I wait to tender? Is there any gain from tendering ASAP or should I just wait until the second security is approved? Can't sort that out from reading Ken's posts

If your shares are on BTCT, they will be transferred to ActiveMining shares automatically after the second listing is approved. You shouldn't tender, just wait

LOL it is like people don't bother to read anything... I would tend to think if you have money tied up in bitcoin, and bitcoin securities, you wouldnt lack lusterly just toss it around and would read everything you could in site before tossing around your investments.  Im not trying to single anyone out, but if you are investing in anything, it would be prudent of you to research EVERYTHING and stay up to date on EVERY information release you could get your hands on.  It just boggles my mind that people don't research what they throw their bitcoins at.

[canth]

I own the original shares on BTCT..am I missing dividends if I wait to tender? Is there any gain from tendering ASAP or should I just wait until the second security is approved? Can't sort that out from reading Ken's posts

If your shares are on BTCT, they will be transferred to ActiveMining shares automatically after the second listing is approved. You shouldn't tender, just wait

LOL it is like people don't bother to read anything... I would tend to think if you have money tied up in bitcoin, and bitcoin securities, you wouldnt lack lusterly just toss it around and would read everything you could in site before tossing around your investments.  Im not trying to single anyone out, but if you are investing in anything, it would be prudent of you to research EVERYTHING and stay up to date on EVERY information release you could get your hands on.  It just boggles my mind that people don't research what they throw their bitcoins at.

It's only virtual money.

[Streets 2.0]

I own the original shares on BTCT..am I missing dividends if I wait to tender? Is there any gain from tendering ASAP or should I just wait until the second security is approved? Can't sort that out from reading Ken's posts

If your shares are on BTCT, they will be transferred to ActiveMining shares automatically after the second listing is approved. You shouldn't tender, just wait

LOL it is like people don't bother to read anything... I would tend to think if you have money tied up in bitcoin, and bitcoin securities, you wouldnt lack lusterly just toss it around and would read everything you could in site before tossing around your investments.  Im not trying to single anyone out, but if you are investing in anything, it would be prudent of you to research EVERYTHING and stay up to date on EVERY information release you could get your hands on.  It just boggles my mind that people don't research what they throw their bitcoins at.

It's only virtual money.

LOL yeah, they can keep telling themselves it doesn't exist while I pay my bills with it 

[neilol]

I own the original shares on BTCT..am I missing dividends if I wait to tender? Is there any gain from tendering ASAP or should I just wait until the second security is approved? Can't sort that out from reading Ken's posts

If your shares are on BTCT, they will be transferred to ActiveMining shares automatically after the second listing is approved. You shouldn't tender, just wait

LOL it is like people don't bother to read anything... I would tend to think if you have money tied up in bitcoin, and bitcoin securities, you wouldnt lack lusterly just toss it around and would read everything you could in site before tossing around your investments.  Im not trying to single anyone out, but if you are investing in anything, it would be prudent of you to research EVERYTHING and stay up to date on EVERY information release you could get your hands on.  It just boggles my mind that people don't research what they throw their bitcoins at.

I have the same stance as you - not that I need to justify myself..but I do read/understand everything and keep up to date. This is why I was just holding on BTCT and waiting for the auto xfer. I read some posts that confused me this morning about div payments - just wanted to double check. Better to be safe than sorry.

I agree that a large number of people in Bitcoin/AMC/ASICMINER have *no idea* about how the companies operate or market dynamics. Hence all of the ridiculous panic selling and buying, unrealistic div predictions etc.

Just profit from all the noobs

[moneymanagment]

Is it possible to have my AMC shares on Bitfunder, tendered an converted into AMC-PT on BTC-TC. I bought these shares 3 weeks ago.

[Streets 2.0]

I own the original shares on BTCT..am I missing dividends if I wait to tender? Is there any gain from tendering ASAP or should I just wait until the second security is approved? Can't sort that out from reading Ken's posts

If your shares are on BTCT, they will be transferred to ActiveMining shares automatically after the second listing is approved. You shouldn't tender, just wait

LOL it is like people don't bother to read anything... I would tend to think if you have money tied up in bitcoin, and bitcoin securities, you wouldnt lack lusterly just toss it around and would read everything you could in site before tossing around your investments.  Im not trying to single anyone out, but if you are investing in anything, it would be prudent of you to research EVERYTHING and stay up to date on EVERY information release you could get your hands on.  It just boggles my mind that people don't research what they throw their bitcoins at.

I have the same stance as you - not that I need to justify myself..but I do read/understand everything and keep up to date. This is why I was just holding on BTCT and waiting for the auto xfer. I read some posts that confused me this morning about div payments - just wanted to double check. Better to be safe than sorry.

I agree that a large number of people in Bitcoin/AMC/ASICMINER have *no idea* about how the companies operate or market dynamics. Hence all of the ridiculous panic selling and buying, unrealistic div predictions etc.

Just profit from all the noobs

Just to clarify, I was directing it at you, just was the following post in line I was replying to 

[bobboooiie]

Is it possible to have my AMC shares on Bitfunder, tendered an converted into AMC-PT on BTC-TC. I bought these shares 3 weeks ago.

It is possible for you to read at least first page ?

[4ju5tice]

Unfortunately I did my transfer yesterday afternoon, which apparently means that I won't get the dividend.  And I have a decent amount of shares, so the dividend isn't trivial. I feel like this information really should have been communicated better. I don't think it is fair that shareholders do not receive their dividend payments from transferring over their shares. Even in limbo, the shares have value. Ken or the 'unlimboed' shareholders should not pocket the dividends from the people that are trying to transfer shares. I'm usually not much of a complainer but this is frustrating to me. My btc is being used for the company, I should receive the benefit from the investment I made.

[navitatl]

Unfortunately I did my transfer yesterday afternoon, which apparently means that I won't get the dividend.  And I have a decent amount of shares, so the dividend isn't trivial. I feel like this information really should have been communicated better. I don't think it is fair that shareholders do not receive their dividend payments from transferring over their shares. Even in limbo, the shares have value. Ken or the 'unlimboed' shareholders should not pocket the dividends from the people that are trying to transfer shares. I'm usually not much of a complainer but this is frustrating to me. My btc is being used for the company, I should receive the benefit from the investment I made.

Nobody's gotten anything yet, don't leap to conclusions that you'll be screwed out of your dividends. You people are so panicky sometimes! Give it a few days at least.

[kslaughter]

Unfortunately I did my transfer yesterday afternoon, which apparently means that I won't get the dividend.  And I have a decent amount of shares, so the dividend isn't trivial. I feel like this information really should have been communicated better. I don't think it is fair that shareholders do not receive their dividend payments from transferring over their shares. Even in limbo, the shares have value. Ken or the 'unlimboed' shareholders should not pocket the dividends from the people that are trying to transfer shares. I'm usually not much of a complainer but this is frustrating to me. My btc is being used for the company, I should receive the benefit from the investment I made.

Nobody's gotten anything yet, don't leap to conclusions that you'll be screwed out of your dividends. You people are so panicky sometimes! Give it a few days at least.

Yes, I agree, I don't want to profit from this.  However, it is a manner of logistics.  I will try and push the shares back to your account so you can receive dividends.

[VolanicEruptor]

The dividends will be shit anyway.  Last time I got paid about $25 for having 200,000 shares.  Dividends are pointless anyway until something actually happens with this company.. so why do people care so much?

[navitatl]

The dividends will be shit anyway.  Last time I got paid about $25 for having 200,000 shares.  Dividends are pointless anyway until something actually happens with this company.. so why do people care so much?

Better than a savings account, amirite?