[ActiveMining] The Official Active Mining Discussion Thread

[superduh]

hahaha

Kenneth said he reached funding goals, and said previously that he would pull any walls once funding has been reached.

However, he puts up a new 100,000 share wall on BTCT as well as a 100,000 share wall on BitFunder at .00265

The email went out at 355.. 7 minutes ago.

Posting from my SG3

We at this point have enough funding to pay the NRE; however, there still are funding needs over the next few weeks to pay expenses as I have outlined in a previous post.  So, as soon as those funding goals are made, then the walls will come down.  Should we receive enough wire transfers on the machines we have sold, then the walls will come down.

don't crash the market selling all at once

[ffssixtynine]

Volcanic, that's not the way to go about things.

Ken, you should be very specific about the walls and have hard numbers posted up here. Whatever you have on there should be the amount you want and IMHO they should stay. Done. Finito.

I didn't agree with them going up but once there, they affect the market. Removing them would then be a further manipulation and that's what's got people riled up.

If you want to make any change, or have less on bitfunder and more on btct (which I would suggest personally given volume issues) do it now and post on here what the full details are.

[kslaughter]

without information about where his walls are, he could easily sell shares for Ferrari funding rather than expense funding, and we would still think he needs more.
we need more transparency NOW, or I'm out.  You have 1 hour..

@VolanicEruptor Go ahead and jump out, the last time you did that it cost you plenty.

[mobile]

IPO over.

In Man vs FUD, Man won.

+1
Once the weak hands were purged this was inevitable 

Awesome!

So, only thing remaining is the funds for the last expenses then. Nice!

+1 on the awesome, let the rally begin...

[Rumpel]

So,
https://bitfunder.com/asset/ActiveMining
Asset Name   ActiveMining
Asset Issuer   AMC
Shares Total   25,000,000
Shares Issued   6,176,329
Pays Dividends   Yes
Issuer may Increase Shares:   Yes, with vote.
Issuer may Modify Description:   Yes, without vote.

https://bitfunder.com/asset/AMC#pane_profile
Asset Name   AMC
Asset Issuer   AMC
Shares Total   100,000,000
Shares Issued   8,886,710
Pays Dividends   Yes
Issuer may Increase Shares:   No
Issuer may Modify Description:   Option not set.


https://btct.co/security/AMC-PT
Outstanding 2516711 / 5000000 Issued

So how many shares have been issued to the public? Looks like over the 10mil that is specified in the original post...

The issuing of more ActiveMining shares can be allowed in the future, as a last resort measure and after a shareholder's vote

What ever happened to this?

[kslaughter]

Volcanic, that's not the way to go about things.

Ken, you should be very specific about the walls and have hard numbers posted up here. Whatever you have on there should be the amount you want and IMHO they should stay. Done. Finito.

I didn't agree with them going up but once there, they affect the market. Removing them would then be a further manipulation and that's what's got people riled up.

If you want to make any change, or have less on bitfunder and more on btct (which I would suggest personally given volume issues) do it now and post on here what the full details are.

Yes, I don't mine doing that, however some on here disagreed with that.  I have said we need to sell 500,000 more shares.  I am only going to sell what is necessary, not one more share.

[Ozymandias]

without information about where his walls are, he could easily sell shares for Ferrari funding rather than expense funding, and we would still think he needs more.
we need more transparency NOW, or I'm out.  You have 1 hour..

@VolanicEruptor Go ahead and jump out, the last time you did that it cost you plenty.

VE's calls for transparency are not unwarranted and entering into chest thumping contests with significant investors is a poor PR move that will hurt the entire company

[Pale Phoenix]

I bought a truckload of shares today because it seemed this venture had its act together and recovered from the missteps of the past.

Can it really be that after all of the previous trouble, we still don't know how many shares are going to be issued, at what price, and where? I won't even get into the "what's the $ for" question.

[kslaughter]

So,
https://bitfunder.com/asset/ActiveMining
Asset Name   ActiveMining
Asset Issuer   AMC
Shares Total   25,000,000
Shares Issued   6,176,329
Pays Dividends   Yes
Issuer may Increase Shares:   Yes, with vote.
Issuer may Modify Description:   Yes, without vote.

https://bitfunder.com/asset/AMC#pane_profile
Asset Name   AMC
Asset Issuer   AMC
Shares Total   100,000,000
Shares Issued   8,886,710
Pays Dividends   Yes
Issuer may Increase Shares:   No
Issuer may Modify Description:   Option not set.


https://btct.co/security/AMC-PT
Outstanding 2516711 / 5000000 Issued

So how many shares have been issued to the public? Looks like over the 10mil that is specified in the original post...

The issuing of more ActiveMining shares can be allowed in the future, as a last resort measure and after a shareholder's vote

What ever happened to this?

Active Mining is only issuing 10M shares, that is all we can issue without a vote.  Most of AMC shares are owned by Active Mining.

[FloatesMcgoates]

Volcanic, that's not the way to go about things.

Ken, you should be very specific about the walls and have hard numbers posted up here. Whatever you have on there should be the amount you want and IMHO they should stay. Done. Finito.

I didn't agree with them going up but once there, they affect the market. Removing them would then be a further manipulation and that's what's got people riled up.

If you want to make any change, or have less on bitfunder and more on btct (which I would suggest personally given volume issues) do it now and post on here what the full details are.

Yes, I don't mine doing that, however some on here disagreed with that.  I have said we need to sell 500,000 more shares.  I am only going to sell what is necessary, not one more share.

You have covered the NRE and clearly have enough funds, yet you plan to unload another 500,000 shares on the market for what reason? "Expenses" as in a rolex here, a ferrari there, and then a picasso for a friend?

Just a few days ago you said that you would be operating just fine even without the NRE being covered or any additional shares sold, now you are in dire need for more cash?

[lolstate]

without information about where his walls are, he could easily sell shares for Ferrari funding rather than expense funding, and we would still think he needs more.
we need more transparency NOW, or I'm out.  You have 1 hour..

@VolanicEruptor Go ahead and jump out, the last time you did that it cost you plenty.

+1

[lolstate]

Volcanic, that's not the way to go about things.

Ken, you should be very specific about the walls and have hard numbers posted up here. Whatever you have on there should be the amount you want and IMHO they should stay. Done. Finito.

I didn't agree with them going up but once there, they affect the market. Removing them would then be a further manipulation and that's what's got people riled up.

If you want to make any change, or have less on bitfunder and more on btct (which I would suggest personally given volume issues) do it now and post on here what the full details are.

Yes, I don't mine doing that, however some on here disagreed with that.  I have said we need to sell 500,000 more shares.  I am only going to sell what is necessary, not one more share.

You have covered the NRE and clearly have enough funds, yet you plan to unload another 500,000 shares on the market for what reason? "Expenses" as in a rolex here, a ferrari there, and then a picasso for a friend?

Just a few days ago you said that you would be operating just fine even without the NRE being covered or any additional shares sold, now you are in dire need for more cash?

Stop talking your book. Have you no shame?

[kslaughter]

without information about where his walls are, he could easily sell shares for Ferrari funding rather than expense funding, and we would still think he needs more.
we need more transparency NOW, or I'm out.  You have 1 hour..

@VolanicEruptor Go ahead and jump out, the last time you did that it cost you plenty.

VE's calls for transparency are not unwarranted and entering into chest thumping contests with significant investors is a poor PR move that will hurt the entire company

I have been very transparent.  I have said that we are issuing 500,000 more shares.  These will be spread between bitfunder and BTC-TC.  This is less than we had posted at first after the price of bitcoin went down to around $68.  At that point we added 1M shares, 500,000 on bitfunder and 500,000 on BTC-TC for a total of 4M shares, however because of the flippers bitfunder shares were not selling, so the wall was taken down after a post here.  Now that bitcoin has gone up we can sell less total shares which we are doing.

[Streets 2.0]

without information about where his walls are, he could easily sell shares for Ferrari funding rather than expense funding, and we would still think he needs more.
we need more transparency NOW, or I'm out.  You have 1 hour..

@VolanicEruptor Go ahead and jump out, the last time you did that it cost you plenty.

VE's calls for transparency are not unwarranted and entering into chest thumping contests with significant investors is a poor PR move that will hurt the entire company

I have been very transparent.  I have said that we are issuing 500,000 more shares.  These will be spread between bitfunder and BTC-TC.  This is less than we had posted at first after the price of bitcoin went down to around $68.  At that point we added 1M shares, 500,000 on bitfunder and 500,000 on BTC-TC for a total of 4M shares, however because of the flippers bitfunder shares were not selling, so the wall was taken down after a post here.  Now that bitcoin has gone up we can sell less total shares which we are doing.

I think what they are saying is that though it is transparent on what you are doing, it is still the 'what' and not the 'why' that is being communicated

[FloatesMcgoates]

Our Plans For Shares and the NRE:

When we reach our goal of funding for the NRE from any of the following sources (shares sales, machine sales, chip sales, private funding, mining, loans etc) with a bit of leeway for other expenses, I will make a post here in the thread and then take down the wall immediately.

SPRINGFIELD, MO, - July 19, 2013 - Active Mining (AM) and Virtual Mining Corporation (VMC) are announcing today that they have reached their funding goal to provide funds for the NRE required by eAsic (www.easic.com).  VMC is in the process of creating the  "World's Fastest Bitcoin Mining Chip"  the Fast-Hash-One 28nm 16 GH/s chip. The Fast-Hash-One machines starts at 256 GH/s with a retail price of $3,999 or $15.62 per GH/s also making it the price leader in
the market place. The Fast-Hash-One series of bitcoin mining machines are  "The Gold Standard Of Bitcoin Mining Machines"™

Just did a quick adding up of our funds.  Converted @ 93.40 we have ~$890,000, so I am going to add 500,000 shares to the wall.  We need funds to cover the 40-60 machines we are building, to finish paying for our prototypes, finish paying for the engineering of the prototypes, and some for general operating expenses.  Also, we need some room just in case the price of bitcoins goes down.

Hurray for ever changing barometers

[VolanicEruptor]

how many of these 500,000 new shares have been bought up so far?  How are we supposed to know???

[Ashitank]

Just did a quick adding up of our funds.  Converted @ 93.40 we have ~$890,000, so I am going to add 500,000 shares to the wall.  We need funds to cover the 40-60 machines we are building, to finish paying for our prototypes, finish paying for the engineering of the prototypes, and some for general operating expenses.  Also, we need some room just in case the price of bitcoins goes down.

I have been very transparent.  I have said that we are issuing 500,000 more shares.  These will be spread between bitfunder and BTC-TC.  This is less than we had posted at first after the price of bitcoin went down to around $68.  At that point we added 1M shares, 500,000 on bitfunder and 500,000 on BTC-TC for a total of 4M shares, however because of the flippers bitfunder shares were not selling, so the wall was taken down after a post here.  Now that bitcoin has gone up we can sell less total shares which we are doing.

Trying to clam things down here

[lolstate]

without information about where his walls are, he could easily sell shares for Ferrari funding rather than expense funding, and we would still think he needs more.
we need more transparency NOW, or I'm out.  You have 1 hour..

@VolanicEruptor Go ahead and jump out, the last time you did that it cost you plenty.

VE's calls for transparency are not unwarranted and entering into chest thumping contests with significant investors is a poor PR move that will hurt the entire company

I have been very transparent.  I have said that we are issuing 500,000 more shares.  These will be spread between bitfunder and BTC-TC.  This is less than we had posted at first after the price of bitcoin went down to around $68.  At that point we added 1M shares, 500,000 on bitfunder and 500,000 on BTC-TC for a total of 4M shares, however because of the flippers bitfunder shares were not selling, so the wall was taken down after a post here.  Now that bitcoin has gone up we can sell less total shares which we are doing.

I think what they are saying is that though it is transparent on what you are doing, it is still the 'what' and not the 'why' that is being communicated

A CEO doesn't have to explain himself every 10 minutes to complete strangers (and fakes) like Floates, STS, Eskimo etc.

The NRE is raised. The IPO is over. Some small expenses remain to be gathered. We can safely ignore people like Eskimo and try and identify genuine share holders with genuine concerns and take all steps necessary to reassure them. Floates, STS, Eskimo etc are trying to drive a wedge between a very successful start up (ActM) and its legitimate long term share holders.

I still can't get over that 'Caveat Emptor'.

[Ozymandias]

without information about where his walls are, he could easily sell shares for Ferrari funding rather than expense funding, and we would still think he needs more.
we need more transparency NOW, or I'm out.  You have 1 hour..

@VolanicEruptor Go ahead and jump out, the last time you did that it cost you plenty.

VE's calls for transparency are not unwarranted and entering into chest thumping contests with significant investors is a poor PR move that will hurt the entire company

I have been very transparent.  I have said that we are issuing 500,000 more shares.  These will be spread between bitfunder and BTC-TC.  This is less than we had posted at first after the price of bitcoin went down to around $68.  At that point we added 1M shares, 500,000 on bitfunder and 500,000 on BTC-TC for a total of 4M shares, however because of the flippers bitfunder shares were not selling, so the wall was taken down after a post here.  Now that bitcoin has gone up we can sell less total shares which we are doing.

And that is wonderful news that you are sharing less, but what I would like to know is the price points at which you are selling the shares. I don't know how much of a difference it makes to us investors, but I would like to know which asks on the exchanges are yours and which are undercutters. Did you put up the ~90k and ~120k walls on btct? Of the additional 500k that are going on btct, how many have still not been placed as "asks"?

As an aside, please do not take any of what I say is attacks; it's just that whenever I have any significant (to me) amount of btc invested in a venture I try to stay as aware of the market as I can. I very much want this venture to succeed!

EDIT: "sharing less" should be written as "issuing less shares", not sharing less information, bad typo on my part

[stslimited]

without information about where his walls are, he could easily sell shares for Ferrari funding rather than expense funding, and we would still think he needs more.
we need more transparency NOW, or I'm out.  You have 1 hour..

@VolanicEruptor Go ahead and jump out, the last time you did that it cost you plenty.

VE's calls for transparency are not unwarranted and entering into chest thumping contests with significant investors is a poor PR move that will hurt the entire company

I have been very transparent.  I have said that we are issuing 500,000 more shares.  These will be spread between bitfunder and BTC-TC.  This is less than we had posted at first after the price of bitcoin went down to around $68.  At that point we added 1M shares, 500,000 on bitfunder and 500,000 on BTC-TC for a total of 4M shares, however because of the flippers bitfunder shares were not selling, so the wall was taken down after a post here.  Now that bitcoin has gone up we can sell less total shares which we are doing.

I think what they are saying is that though it is transparent on what you are doing, it is still the 'what' and not the 'why' that is being communicated

A CEO doesn't have to explain himself every 10 minutes to complete strangers (and fakes) like Floates, STS, Eskimo etc.

The NRE is raised. The IPO is over. Some small expenses remain to be gathered. We can safely ignore people like Eskimo and try and identify genuine share holders with genuine concerns and take all steps necessary to reassure them. Floates, STS, Eskimo etc are trying to drive a wedge between a very successful start up (ActM) and its legimitimate long term share holders.

I still can't get over that 'Caveat Emptor'.

and the name calling begins. Seen it all

One time, I saw a CEO get early investors on as "Directors", and then if the directors asked too many questions, he would proclaim to everyone on the email list that those directors were liar hackers and that any email from them would contain a virus. Also would "kick out" the director and keep their shares, or the value of them