[ActiveMining] The Official Active Mining Discussion Thread

[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.

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!

For example this guy Ozymandias ^^^ strikes me as the real deal, a genuinely concerned citizen, if you will. Unlike STS et al.

[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 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

There is no name calling to be done. FUD lost. You lost. Move on to another stomping ground. 

[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

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'.

Believe me, I am not denying this fact.  This is definitely a different world in this community, which is why I have stated a board of members or a PR individual or staff is required now.  I have been trying my best to fill that void, because we are all in this together, tied by our Bitcoin.

When I speak of the why they request, it is simply that, an understanding as to this 500k wall now going up.  I understand why it is going up, lolstate you understand why it is going up.  For one, Active Mining owns most of those AMC shares on Bitfunder.  All the numbers being tossed around are not exact because of the merger and the shut down on both exchanges of AMC.  The fact is, less than 10 million shares are issued, and until those 10 million shares are issued, they will be released.  Im not going to say whether now or later, in chunks or in bulk is the smartest idea, because I haven't thought it through yet.  But it remains, those shares are going to be issued, if you understand this fact, then you will see that it is smart to buy now rather than when share price is 0.0035+

Secondly, it was stated before that the expenses for the machines being built, which was documented and the links are on my first post of the overview thread, were needed.  The IPO is over, the NRE is complete, would you rather have Ken release those shares available to his shareholders (us) at a low rate of 0.0028 or 0.035+ (which is where I see this going)?

[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

There is no name calling to be done. FUD lost. You lost. Move on to another stomping ground. 

okay then, no name calling, I don't actually know what a "fake" is in this context. Just assumed it was a derogatory term 

[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 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

There is no name calling to be done. FUD lost. You lost. Move on to another stomping ground. 

okay then, no name calling, I don't actually know what a "fake" is in this context. Just assumed it was a derogatory term 

Highly derogatory. Stop playing games, you have been called out.

[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 legimitimate long term share holders.

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

Believe me, I am not denying this fact.  This is definitely a different world in this community, which is why I have stated a board of members or a PR individual or staff is required now.  I have been trying my best to fill that void, because we are all in this together, tied by our Bitcoin.

When I speak of the why they request, it is simply that, an understanding as to this 500k wall now going up.  I understand why it is going up, lolstate you understand why it is going up.  For one, Active Mining owns most of those AMC shares on Bitfunder.  All the numbers being tossed around are not exact because of the merger and the shut down on both exchanges of AMC.  The fact is, less than 10 million shares are issued, and until those 10 million shares are issued, they will be released.  Im not going to say whether now or later, in chunks or in bulk is the smartest idea, because I haven't thought it through yet.  But it remains, those shares are going to be issued, if you understand this fact, then you will see that it is smart to buy now rather than when share price is 0.0035+

Secondly, it was stated before that the expenses for the machines being built, which was documented and the links are on my first post of the overview thread, were needed.  The IPO is over, the NRE is complete, would you rather have Ken release those shares available to his shareholders (us) at a low rate of 0.0028 or 0.035+ (which is where I see this going)?

At this stage, mistakes and smart moves included, we are 99% done. So I say sell everything now that can be sold because in a week's time this will all be forgotten.

[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

There is no name calling to be done. FUD lost. You lost. Move on to another stomping ground.  

okay then, no name calling, I don't actually know what a "fake" is in this context. Just assumed it was a derogatory term  

Highly derogatory. Stop playing games, you have been called out.

Mature. the only reason people have been trying to count all the shares for the last 3 pages is because I posted a pretty objectionable analysis about why things about this investment are unclear.

[Streets 2.0]

Reign it in guys, lets get back on track!  nothing is gained bickering

[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 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

There is no name calling to be done. FUD lost. You lost. Move on to another stomping ground.  

okay then, no name calling, I don't actually know what a "fake" is in this context. Just assumed it was a derogatory term  

Highly derogatory. Stop playing games, you have been called out.

Mature. the only reason people have been trying to count all the shares for the last 3 pages is because I posted a pretty objectionable analysis about why things about this investment are unclear.

Well, the answer is simple, then: don't invest.

[ffssixtynine]

Lolstate you are really not helping. Please stop being childish.

Ken, can you quickly:

Specify which walls are yours on each exchange and at what price?

Confirm that you will sell 500k shares in total, and if you'll add to an exchange if that will sell 500k better (and pull that same amount from the other exchange)?

Confirm concisely and clearly how the share counts in the 3 funds relate to each other? We know 10 million in total but the details need to be made clear.

I posted other questions earlier which street will organise properly I hope

[Stuartuk]

A few things people are missing here-

if Ken had not put up these latest walls what would have happened? Price would have shot up to maybe .004 and there would have been a big sell off. Fact. This place is flooded with speculators and any big big percentage move will always be followed by a sell off. That is the nature of short term market speculation. So it's likely we would have been back sitting around .0025.

It is actually better for long term steady growth that share price does not go up too quickly. 25% in a few days is actually way too fast. We all  saw btc surge to 260USD followed by a huge sell off that it is yet to recover from. That sort of volatility is not healthy for any stock.

A 10% gain per week is sustainable and will prevent massive sell offs that scare away investors and make a company look rocky. 10% a week will make us all very rich so be sensible and calm down everyone.

[Ozymandias]

Lolstate you are really not helping. Please stop being childish.

Ken, can you quickly:

Specify which walls are yours on each exchange and at what price?

Confirm that you will sell 500k shares in total, and if you'll add to an exchange if that will sell 500k better (and pull that same amount from the other exchange)?

Confirm concisely and clearly how the share counts in the 3 funds relate to each other? We know 10 million in total but the details need to be made clear.

I posted other questions earlier which street will organise properly I hope

You, I like you

[lolstate]

Lolstate you are really not helping. Please stop being childish.

No, that's not true. There are two classes of critical/concerned poster here: a) genuine ones we need to communicate with and b) fakes who are trying to disrupt proceedings.

We need to call out the disruptive element and refuse to humour them, because although it is too late for them to stop ActM, they will be a pain in the arse for who-knows-how-long. If you've been here for a while, it is easy to recognise them and smile when they pop up, but it is unfair on new investors who will be scared away by the FUD. There is also the nastier element (of which Floates it the best example) who are trying to play people to favour their trades.

However, as I said to Streets, we are 99% done. The IPO has been a success. So let's look forward to a rosy future.

[ffssixtynine]

Ozy, should I be scared?!

Stu, when you ipo that is the nature of the beast. The stock sold well because many people think they can make a quick buck. That's how it works. Ken makes money, they make money, and more people are pulled in for the long term or the next 'roll over' as it were.

What you can't do is engage in market manipulation, whether you meant it like that or not, because then the market won't trust you.

The stock would probably have settled around 0.003 as so many people bought in at 0.0025, lower on bitfunder. 20% profit in a day is pretty good and a lot of people will take it. Much more wont happen until a lot more money enters the exchanges and/or mining gear goes on-line, or there is been sufficient turnover at a higher stock price than the ipo.

Edit: lolstate: do not rise to the bait, some of the questions are very fair, don't quote the whole post and generally just walk away. As I said, you are not helping anyone. Leave it alone. In your head you already won, and you may be proved right, so be happy and go celebrate!

[knybe]

A few things people are missing here-

if Ken had not put up these latest walls what would have happened? Price would have shot up to maybe .004 and there would have been a big sell off. Fact. This place is flooded with speculators and any big big percentage move will always be followed by a sell off. That is the nature of short term market speculation. So it's likely we would have been back sitting around .0025.

It is actually better for long term steady growth that share price does not go up too quickly. 25% in a few days is actually way too fast. We all  saw btc surge to 260USD followed by a huge sell off that it is yet to recover from. That sort of volatility is not healthy for any stock.

A 10% gain per week is sustainable and will prevent massive sell offs that scare away investors and make a company look rocky. 10% a week will make us all very rich so be sensible and calm down everyone.

hear hear... agreed 100%

I think the circling sharks (specs) still smell chum in the water though.

[canth]

Lolstate you are really not helping. Please stop being childish.

Ken, can you quickly:

Specify which walls are yours on each exchange and at what price?

Confirm that you will sell 500k shares in total, and if you'll add to an exchange if that will sell 500k better (and pull that same amount from the other exchange)?

Confirm concisely and clearly how the share counts in the 3 funds relate to each other? We know 10 million in total but the details need to be made clear.

I posted other questions earlier which street will organise properly I hope

+1. I'd also like to add a request that any of the 15M shares owned by AMC won't be sold without adequate (over 24 hours) notice. If this has been covered already, great - but I didn't see anything in the prospectus.

[lolstate]

Edit: lolstate: do not rise to the bait, some of the questions are very fair, don't quote the whole post and generally just walk away. As I said, you are not helping anyone. Leave it alone. In your head you already won, and you may be proved right, so be happy and go celebrate!

ffssixtynine, don't you see at least one person here *up until now* couldn't walk away? There have been/are some very cynical and manipulative posters on the ActM threads, and I shudder to think what could have happened if we had simply kowtowed to them. So, there you go, I gave the secret away! I would rather lurk here and not post, but since no one stepped forward to call out the FUDsters, I thought I would be a hypocrite to hide away, when I saw what had to be done.

[sebastienurbain]

Just a side note, AMC-PT has 1000BTC more 24h volume than ASICMINER-PT on BTC-TC!

[lolstate]

Just a side note, AMC-PT has 1000BTC more 24h volume than ASICMINER-PT on BTC-TC!

That is freaking amazing. Ok, if we were not on Friedcat's radar before today, we are now!

[Pompobit]

I agree with every single word that ffssixtynine says. Ken, just answers to his asks and it will be enough for all of us