[ActiveMining] The Official Active Mining Discussion Thread

[kleeck]

Friedcat of AM fame released the AM financial statement today and I noticed something interesting in his Project Timeline, specifically in Nov-Dec...

Update

Financial Status

...
blah blah blah
...

August-September: Deploy/sell all hashpower arriving in July and early August.
September-November: Deploy/sell the hashpower ordered at early July.
November-December: Experimental products of 2nd-gen chips and modular large-scale deployment solutions.

Modular, you say? What a brilliant idea!

now THAT... is good shit.

October/November Active Mining Deploys and Sells our 1st Gen 28nm 16 GH/s chip. 
Modular Deployment for Active Mining's mining farm with up to 24.576 TH/s per 34U's of rack space.  Now that is good stuff if I say so myself.

You make me happy, Ken. I'd love to see this happen in that time frame.

[deltanine]

Friedcat of AM fame released the AM financial statement today and I noticed something interesting in his Project Timeline, specifically in Nov-Dec...

Update

Financial Status

...
blah blah blah
...

August-September: Deploy/sell all hashpower arriving in July and early August.
September-November: Deploy/sell the hashpower ordered at early July.
November-December: Experimental products of 2nd-gen chips and modular large-scale deployment solutions.

Modular, you say? What a brilliant idea!

now THAT... is good shit.

October/November Active Mining Deploys and Sells our 1st Gen 28nm 16 GH/s chip. 
Modular Deployment for Active Mining's mining farm with up to 24.576 TH/s per 34U's of rack space.  Now that is good stuff if I say so myself.

Hey, Ken.  What do you make of this from Friedcat's financial statement?

Update

Hardware Franchising

This is a new business model option besides self-mining and hardware sales. We will rent the excessive hashing power to financial and technical capable people, accepting full deposits at the market price, shipping the devices and collecting a certain PPS rate based on the theoretical hashrate. The PPS rate, the dividing of cost coverage, as well as warranty/exit strategy are being discussed in detail and executed as small-scale experiments.

This model is similar to hardware sales in the aspect that we do not have in control on how the users make use of our devices, therefore has more decentralization in spirit. And like with self-mining, it aims at settings in scale, enjoying the reduction of NRE cost and operating cost overall, and reducing potential marketing/advertisement/customer service costs.

Any similarity to your "people's miner" concept that babefoot touched on?

[ffssixtynine]

My not legal opinion:

https://bitcointalk.org/index.php?topic=261235.msg2790057#msg2790057

[Greymist]

I was surprised that no one has mentioned the no vote on ACTIVEMINING:

Anonymous voted NO with comment: No evidence that I've found as yet that VMC is actually shipping operational hardware. No evidence of 28nm ASICs either. Will amend vote if evidence of live, hashing equipment is provided (not screenshots of e-commerce sites selling pre-orders!).

The 28nm part of that might be provable by showing the below link, but the other parts will take longer, unfortunately.
http://www.easic.com/easic-contact/28-nm-registration/

kslaughter: Happy to accept some VMC branded hardware so I can post to the world about it and get that 5th vote through.

[Streets 2.0]

I was surprised that no one has mentioned the no vote on ACTIVEMINING:

Anonymous voted NO with comment: No evidence that I've found as yet that VMC is actually shipping operational hardware. No evidence of 28nm ASICs either. Will amend vote if evidence of live, hashing equipment is provided (not screenshots of e-commerce sites selling pre-orders!).

The 28nm part of that might be provable by showing the below link, but the other parts will take longer, unfortunately.
http://www.easic.com/easic-contact/28-nm-registration/

That is an odd comment when BlackLilac voted yes... and he is the most analytical of the bunch, and that is a good thing.  Aside from the fact that ActM holds 6 Avalon hashing machines right now, that comment just doesn't make sense. 

[Vbs]

Hey, Ken.  What do you make of this from Friedcat's financial statement?

Update

Hardware Franchising

This is a new business model option besides self-mining and hardware sales. We will rent the excessive hashing power to financial and technical capable people, accepting full deposits at the market price, shipping the devices and collecting a certain PPS rate based on the theoretical hashrate. The PPS rate, the dividing of cost coverage, as well as warranty/exit strategy are being discussed in detail and executed as small-scale experiments.

This model is similar to hardware sales in the aspect that we do not have in control on how the users make use of our devices, therefore has more decentralization in spirit. And like with self-mining, it aims at settings in scale, enjoying the reduction of NRE cost and operating cost overall, and reducing potential marketing/advertisement/customer service costs.

Any similarity to your "people's miner" concept that babefoot touched on?

LOL! Renting "excessive hashing power"??

So, AsicMiner is also going the "Mining Bond" route where the buyer takes the risk of difficulty increases... How quaint ...

[kslaughter]

BTC-TC,

Anonymous voted NO with comment: No evidence that I've found as yet that VMC is actually shipping operational hardware. No evidence of 28nm ASICs either. Will amend vote if evidence of live, hashing equipment is provided (not screenshots of e-commerce sites selling pre-orders!).

[knybe]

BTC-TC,

Anonymous voted NO with comment: No evidence that I've found as yet that VMC is actually shipping operational hardware. No evidence of 28nm ASICs either. Will amend vote if evidence of live, hashing equipment is provided (not screenshots of e-commerce sites selling pre-orders!).

what to do?

[gski]

We are live on BTCT!(Though I am unsure how...)

[VolanicEruptor]

BTC-TC,

Anonymous voted NO with comment: No evidence that I've found as yet that VMC is actually shipping operational hardware. No evidence of 28nm ASICs either. Will amend vote if evidence of live, hashing equipment is provided (not screenshots of e-commerce sites selling pre-orders!).

Thanks Ken, but that has already been brought to our attention.  Do you have anything else to add?

[gski]

We are live on BTCT!(Though I am unsure how...)

Never mind I see now that moderator score and votes are different.

[adub]

Hey All,

Just a little introduction first... I've been lurking but am a decent size share holder at 10K and a professional in the legacy payment processing industry with a special interest in the regulatory side of Bitcoin.

Regarding the SEC developments...

One of the things you see many of the Bitcoin exchanges who operate in the US or service US customers is, they will try to be as transparent as possible by registering with the regulatory entities they can, regardless of it being clearly required or not. This is a show of good will and expresses an intent to be compliant in a space that lacks clear compliance guidelines.  

I think it's at least worth considering this approach and would likely have a positive impact on the opinions of potential investors/nay sayers who question ActM's authenticity.

Ken, see my IM.

[Greymist]

And Approved (ACTIVEMINING on BTCTC that is):

Anonymous voted YES with comment: Do your due diligence before investing.

[joele]

Hey Ken, I made a transfer 2000 AMC to AMC-TENDER (for ActiveMining shares) on bitfunder 11 hours ago.
Bitfunder date transferred 2013-07-23 04:24:15

When is this shares will be transferred?

[Streets 2.0]

Hey Ken, I made a transfer 2000 AMC to AMC-TENDER (for ActiveMining shares) on bitfunder 11 hours ago.
Bitfunder date transferred 2013-07-23 04:24:15

When is this shares will be transferred?

Allow 24-48 hours for the transfer, it will go through.  He has to do it manually and works on them nightly

[Mabsark]

Ken, now that ActiveMining has been approved, can you officially confirm that the shares of AMC will automatically be converted? If this is not the case, do we need to send the shares to AMC1?

[ffssixtynine]

One of the things you see many of the Bitcoin exchanges who operate in the US or service US customers is, they will try to be as transparent as possible by registering with the regulatory entities they can, regardless of it being clearly required or not. This is a show of good will and expresses an intent to be compliant in a space that lacks clear compliance guidelines.  

With the exchanges they have the problem of being money transmitters that work in fiat. Even if not in the US, if they want to deal with US banks or money services then they need to do what they can.

[ffssixtynine]

re: Share transfers - Ken is off to eASIC so away Wednesday. New transfers may need to wait a couple of days. He posted about it earlier in this thread somewhere.

[kslaughter]

Ken, now that ActiveMining has been approved, can you confirm that the shares of AMC will automatically be converted? If this is not the case, do we need to send the shares to AMC1?

I am working on this now.  Shares will be automatically tendered.

[foxykah]

Ken, now that ActiveMining has been approved, can you confirm that the shares of AMC will automatically be converted? If this is not the case, do we need to send the shares to AMC1?

I am working on this now.  Shares will be automatically tendered.

Sorry for the impatience, but about when will they be tendered? I am really excited about the things happening these days