[ActiveMining] The Official Active Mining Discussion Thread

[EskimoBob]

just to avoid future confusions and Voorhees moments:
1) please list the names of current management and how many shares each holds (including you).

kslaughter, as someone else pointed out,  you must have plenty of free time on your hands to hang around here.   Because you used to get straight A's in econ class:
2) on what date can we expect the proper financial reports from you?

[Jimmy2011]

Jimmy : to my understanding 45 nm was a backup plan in case of lack of funding for 28 nm. 45 nm costs $400,000 vs. $1,000,000 for 28 nm.
But I dunno how many chips in this $1 million bucks order.
So this 45 nm plan  will be cancelled now.

Thanks. 28nm process is much more complex and difficult than 45nm process. It's better to produce 45nm chips successfully and then 28nm.

[gambit1]

I have a slight problem.

I'm an AMC-PT shareholder and I want to transfer these shares for the better ones. However, do I need a bitfunder account to make this happen. The thing is, I can't get google 2-factor authentication working and my bitfunder account says you can't transfer shares without it.

Also, how would I transfer shares from BTC-TC to bitfunder?

Thanks in advance, including for your patience.

[lolstate]

Vbs, Streets 2.0 and the others: great job!

The next barrier to overcome will probably be the convertion of Bitcoin -> USD. One of the reasons (besides expenses) for the issuing of the last 500k shares was a falling BTC/USD price and KS last calculation was done with 93.30, but he also mentioned he has a puffer now.

Such huge amounts create a wide spread, potentially move the market and there is the probability, that KS gets goxed. Furthermore and this is very important as well: there are daily and monthly withdrawal limits and large amounts need additional verification, i.e. notarized documents.

I do a lot of cross exchange Arb with btc and have a lot of code with the major exchanges to break up iceberg orders . Ken I'd be more than willing to help you spread out the orderflow into USD to remove market impact.  For the record I'm an algorithmic trader in equities, BTC is just a hobby, I also am a large shareholder and want to see this all work out.

+1

[matuszed]

I have a slight problem.

I'm an AMC-PT shareholder and I want to transfer these shares for the better ones. However, do I need a bitfunder account to make this happen. The thing is, I can't get google 2-factor authentication working and my bitfunder account says you can't transfer shares without it.

Also, how would I transfer shares from BTC-TC to bitfunder?

Thanks in advance, including for your patience.

On btct the shares will be switched to active mining ones once it gets approval.

 Also Liquidity is better on btct so I'd wait till the approval goes through.

[Vbs]

Board is being formed as we speak, hold on just an inch more!

This should make sure all future actions are agreed upon, so we can get smooth sailing from now on.

[navitatl]

Board is being formed as we speak, hold on just an inch more!

This should make sure all future actions are agreed upon, so we can get smooth sailing from now on.

Is it going by number of shares? I'd like to be considered since I'm a fairly large shareholder, even if I'm less vocal on the forums than many others.

[keepinithamsta]

just to avoid future confusions and Voorhees moments:
1) please list the names of current management and how many shares each holds (including you).

kslaughter, as someone else pointed out,  you must have plenty of free time on your hands to hang around here.  Because you used to get straight A's in econ class:
2) on what date can we expect the proper financial reports from you?

I've been relatively quiet for a while but I'm a sys admin with a relatively strong accounting background.  The biggest part of my accounting background is that I've prepared complete financial reports for a $35m/yr non-profit solely by myself.  The monthly report that I finalized was ~275 pages. 

I'm still curious what's up with the balance sheet we saw.  When was the property lease signed?  How much is the property?  Where is that money coming from?  What is the US$ budget?  Are there seriously no expenses beyond manufacturing costs?  That surely can't be right unless Ken owns that property but then who is paying for electricity.  What's going to be the monthly budget for Springfield Underground per 1U?  Per rack?  There's quite a few questions I'd like answered.  The biggest one is exactly how much funds are held in US$?  With a budget, no income and knowing how much US$ is in the coffers, a serious investor will have an idea how long a company can last.  If it's only ~3 months of expenses ready to be covered by US$, we're pushing the limits of eAsic timeline in the case of an engineering delay which is quite a risky investment.

[EskimoBob]

just to avoid future confusions and Voorhees moments:
1) please list the names of current management and how many shares each holds (including you).

kslaughter, as someone else pointed out,  you must have plenty of free time on your hands to hang around here.  Because you used to get straight A's in econ class:
2) on what date can we expect the proper financial reports from you?

I've been relatively quiet for a while but I'm a sys admin with a relatively strong accounting background.  The biggest part of my accounting background is that I've prepared complete financial reports for a $35m/yr non-profit solely by myself.  The monthly report that I finalized was ~275 pages. 

I'm still curious what's up with the balance sheet we saw.  When was the property lease signed?  How much is the property?  Where is that money coming from?  What is the US$ budget?  Are there seriously no expenses beyond manufacturing costs?  That surely can't be right unless Ken owns that property but then who is paying for electricity.  What's going to be the monthly budget for Springfield Underground per 1U?  Per rack?  There's quite a few questions I'd like answered.  The biggest one is exactly how much funds are held in US$?  With a budget, no income and knowing how much US$ is in the coffers, a serious investor will have an idea how long a company can last.  If it's only ~3 months of expenses ready to be covered by US$, we're pushing the limits of eAsic timeline in the case of an engineering delay which is quite a risky investment.

Where did you see that? URL please. Thank you.

[VolanicEruptor]

Why are we stuck now at 0.025? I thought there would be some up movement. Wasn't expecting much but this is no movement.

If you read the thread, Ken came short on his funding and needs a bit more.  This is why you see a wall of 260,000 shares at .0025.  Those are his shares he is trying to sell to cover additional expenses of building the machines.

[MilkyLep]

So i'll have to catch up on the last 25+ pages created in the past ~36 hours when I have the time.

However I dug deep enough to see the extremely close fall of the original walls

VolanicEruptor, feel free to tender those 100 shares over to MilkyLep on btct at your earliest convenience. 

I'm interested to see why so many more shares are being listed again-this is why people have been requesting detailed financial reports-and what this talk of 45nm is floating around for. Please don't bother berating me, i'll catch up later.

[VolanicEruptor]

shares have been transferred 

[gambit1]

"On btct the shares will be switched to active mining ones once it gets approval.

 Also Liquidity is better on btct so I'd wait till the approval goes through."

Really? So I don't need to do anything then? Is that right? There's a whole thing at the start of this thread about what to do to get them transfered.

[iCEBREAKER]

Jimmy : to my understanding 45 nm was a backup plan in case of lack of funding for 28 nm. 45 nm costs $400,000 vs. $1,000,000 for 28 nm.
But I dunno how many chips in this $1 million bucks order.
So this 45 nm plan  will be cancelled now.

It's moot since pre-orders have been sold, but what was the ROI on 45nm?

The idea of spending $400k on the chip and $600k on tons more machines full of those chips seems advantageous.

Winning the race to 28 has overwhelming appeal, if we can fund it all the way to mass production.  I'm glad the market is giving AMC a shot.

FriedKen has decided to go big or go home!  

[VolanicEruptor]

FriedKen.. I like it.

[matuszed]

"On btct the shares will be switched to active mining ones once it gets approval.

 Also Liquidity is better on btct so I'd wait till the approval goes through."

Really? So I don't need to do anything then? Is that right? There's a whole thing at the start of this thread about what to do to get them transfered.

Right do nothing and sit tight.  Burnside jumped in the thread later and said the shares would be auto transferred.

[wiak2]

Wall's coming down!  Let's finish it boys!

[gambit1]

Sweet. Thanks for the help, appreciated.

[Vbs]

Jimmy : to my understanding 45 nm was a backup plan in case of lack of funding for 28 nm. 45 nm costs $400,000 vs. $1,000,000 for 28 nm.
But I dunno how many chips in this $1 million bucks order.
So this 45 nm plan  will be cancelled now.

It's moot since pre-orders have been sold, but what was the ROI on 45nm?

The idea of spending $400k on the chip and $600k on tons more machines full of those chips seems advantageous.

Winning the race to 28 has overwhelming appeal, if we can fund it all the way to mass production.  I'm glad the market is giving AMC a shot.

FriedKen has decided to go big or go home!  

There is no doubt about the chip die size, it's going to be 28nm, since having that almost before everyone else is a very great advantage.

Everyone is probably underestimating the volume that can be made on bulk chip sales. By releasing reference board specs, ActM can have a huge profit with this.

The latest news of Avalon talk about around $14,000,000 in bulk chip sales and that's 110nm tech. I'd expect 3x of that just on the first months when those are available from ActM.

Some wise man once said that the profit is made selling shovels and pickaxes, whenever there's a gold rush!

[keepinithamsta]

just to avoid future confusions and Voorhees moments:
1) please list the names of current management and how many shares each holds (including you).

kslaughter, as someone else pointed out,  you must have plenty of free time on your hands to hang around here.  Because you used to get straight A's in econ class:
2) on what date can we expect the proper financial reports from you?

I've been relatively quiet for a while but I'm a sys admin with a relatively strong accounting background.  The biggest part of my accounting background is that I've prepared complete financial reports for a $35m/yr non-profit solely by myself.  The monthly report that I finalized was ~275 pages. 

I'm still curious what's up with the balance sheet we saw.  When was the property lease signed?  How much is the property?  Where is that money coming from?  What is the US$ budget?  Are there seriously no expenses beyond manufacturing costs?  That surely can't be right unless Ken owns that property but then who is paying for electricity.  What's going to be the monthly budget for Springfield Underground per 1U?  Per rack?  There's quite a few questions I'd like answered.  The biggest one is exactly how much funds are held in US$?  With a budget, no income and knowing how much US$ is in the coffers, a serious investor will have an idea how long a company can last.  If it's only ~3 months of expenses ready to be covered by US$, we're pushing the limits of eAsic timeline in the case of an engineering delay which is quite a risky investment.

Where did you see that? URL please. Thank you.

This one.

I understand they were operating strictly as a BTC based currency company for a little while.  I also understand it's quite a bit easier to have an expense account or petty cash available and just reimburse but is there even US$ accounting being done?  There should also be a trail in US$ for what is being purchased.

Anyways, there has to be significantly more expenses for July and I'd like to know how long the company can survive in the worst case scenario of a delay in manufacturing.  I have a tiny bit invested compared to what others have invested but budget is very important when you're talking about a company behind a US$1M NRE investment that may have delays until steady income comes along.