[ActiveMining] The Official Active Mining Discussion Thread

[VolanicEruptor]

It's Friday, where's my Satoshi dust?  Weekly dividends need to be paid weekly, regardless of how small.

Please sell your shares..

[Ytterbium]

I think that we shouldn't expect the way this board and this company acts to be exactly dictated by how things work in the fiat world. Definitely should take inspiration and methods, but an exact replica is not only unfeasible it won't make sense in some situations. There should definitely be an organized dimension to it for sure though.

Perhaps on the IRC channel shareholders are +'d and the mute command enabled. Allowing spectators to watch and shareholders to participate. Proof would be required in some way, not exactly sure how you'd go about that.

If the board is getting privileged information maybe there should be a form of lock on shares for a short time after board meetings/before information being released until good faith can prevail. I think this may have been discussed previously.

IRL you have both a shareholder meeting and a board meeting.  The shareholder meeting is open to everyone, the board meeting is not.

If you have an open meeting, the board won't be able to discuss aspects of the project under NDA. You can see how that would be a problem, right?

I'm not an ActM investor (Well, I did buy one share to test btct.co while I was waiting for the Labcoin IPO).  Sooo I don't really care one way or another.  But presumably it would be good for the board to be able to discuss what's going with eAsic, which can't be done in a public forum.

[karsy]

Anyone have any insight on the price difference between bitfunder and BTCT?

In Bitfunder there is people that bought at the original AMC IPO at 0'0005 so they are probably more willing to sell at 0'004x that people on BTCT that started buying at a higher price.

You may be right.

[zefyr0s]

...

I agree with you, I don't know why you think we are in disagreement on this one. About the IRC chat I was speaking about a 'shareholder meeting' of sorts over IRC. And like ff69 said, you can go in the room at any time to ask questions. This would just be a more formal version with board members and other members of Ken's team.

[JoTheKhan]

I don't mind the Board meetings where NDA/private/confidential information is discussed, I trust that these meetings will not cause board members to do insider trading (I believe they were selected on credentials and not share amount right?).

The problem are these Rich Kid Only Shareholder meetings. If Hypothetical Jim has the right to attend a meeting solely on the amount of shares he has. Then I have just as much right to be in that meeting; whether I am allowed to voice an opinion on the meeting does not matter to me. But I DO NOT feel safe with Jim knowing information before I do, especially since he has the power to manipulate share price. I would like the chance to hear it at the same time he does.

So unless the share is locked during/right after the meeting, then no new information should be presented at this Rich Kid Only meeting.

It is disrespectful and unprofessional to say that because I haven't invested a certain amount of BTC into this company that I am excluded from any shareholder meeting. I Hold Shares; therefore the shareholder meeting is for me, hell it is named after my title with the company. A Shareholder is allowed into a shareholder's meeting. Case closed.

I do not know and frankly do not care if it is done differently in the real world. The real world has regulations to protect shareholders. This new community does not have these same rules and regulations and therefore it is up to the company and the shareholders themselves to product against misconduct such as insider trading.

[4ju5tice]

Anyone have any insight on the price difference between bitfunder and BTCT?

In Bitfunder there is people that bought at the original AMC IPO at 0'0005 so they are probably more willing to sell at 0'004x that people on BTCT that started buying at a higher price.

You may be right.

Very true. Additionally, there are about twice the amount of shares on bitfunder (of which about half of those IPO'd at .0005-.0008). In the beginning, .5 btc bought 1000 shares and now buys about 100 shares. There's a lot of people on bitfunder that bought these really cheap shares. Another thing to think about is the amount of speculative liquidity on btct compared to bitfunder. There have been a lot of big IPO's on btct recently that have a lot of volatility. For someone that wants to chase the volatility, it's easier for them to stay on one exchange to keep their btc most liquid. When actm gets good news, they'll buy it quick rather than try to send to weexchange and waste valuable time.

[kleeck]

I don't mind the Board meetings where NDA/private/confidential information is discussed, I trust that these meetings will not cause board members to do insider trading (I believe they were selected on credentials and not share amount right?).

The problem are these Rich Kid Only Shareholder meetings. If Hypothetical Jim has the right to attend a meeting solely on the amount of shares he has. Then I have just as much right to be in that meeting; whether I am allowed to voice an opinion on the meeting does not matter to me. But I DO NOT feel safe with Jim knowing information before I do, especially since he has the power to manipulate share price. I would like the chance to hear it at the same time he does.

So unless the share is locked during/right after the meeting, then no new information should be presented at this Rich Kid Only meeting.

It is disrespectful and unprofessional to say that because I haven't invested a certain amount of BTC into this company that I am excluded from any shareholder meeting. I Hold Shares; therefore the shareholder meeting is for me, hell it is named after my title with the company. A Shareholder is allowed into a shareholder's meeting. Case closed.

I do not know and frankly do not care if it is done differently in the real world. The real world has regulations to protect shareholders. This new community does not have these same rules and regulations and therefore it is up to the company and the shareholders themselves to product against misconduct such as insider trading.

To be absolutely clear, there are no plans for a general shareholder meeting. Any one of you can contact us on IRC or by PM at any time.

Monthly shareholder meetings will be held for all qualified, vested shareholders to take part in with The Advisory Board as it is formed, and Ken directly.  We feel this will allow for further transparency, but also give each of you who are deeply invested in Active Mining a voice in the process.  There was a number of substantial applications who we felt can represent all shareholders of ActiveMining through these meetings.

Edited for clarity: These meetings will be for those deeply invested or original applicants who the board feel have much to offer. They will be a fair representative group of investors and they will not be privy to confidential information, so no one will be missing out.

The matter of "The Monthly Shareholder Meetings" has been heard and responded to. No amount of bashing our heads against these proverbial forum walls will change the current situation. I'd recommend any further rants regarding Ken and the Adviser's decision be pointed directly at a board member via IRC or PM.

[crumbs]

I don't mind the Board meetings where NDA/private/confidential information is discussed, I trust that these meetings will not cause board members to do insider trading (I believe they were selected on credentials and not share amount right?).

The problem are these Rich Kid Only Shareholder meetings. If Hypothetical Jim has the right to attend a meeting solely on the amount of shares he has. Then I have just as much right to be in that meeting; whether I am allowed to voice an opinion on the meeting does not matter to me. But I DO NOT feel safe with Jim knowing information before I do, especially since he has the power to manipulate share price. I would like the chance to hear it at the same time he does.

So unless the share is locked during/right after the meeting, then no new information should be presented at this Rich Kid Only meeting.

It is disrespectful and unprofessional to say that because I haven't invested a certain amount of BTC into this company that I am excluded from any shareholder meeting. I Hold Shares; therefore the shareholder meeting is for me, hell it is named after my title with the company. A Shareholder is allowed into a shareholder's meeting. Case closed.

I do not know and frankly do not care if it is done differently in the real world. The real world has regulations to protect shareholders. This new community does not have these same rules and regulations and therefore it is up to the company and the shareholders themselves to product against misconduct such as insider trading.

This is difficult to understand... 
You would be happy if some guys on the interwebs promise you not to discuss this virtual company behind your back?  What's to stop them from doing it, regardless?

[knybe]

The matter of "The Monthly Shareholder Meetings" has been heard and responded to. No amount of bashing our heads against these proverbial forum walls will change the current situation. I'd recommend any further rants regarding Ken and the Adviser's decision be pointed directly at a board member via IRC or PM.

+1

Please end the static on this channel so we can actually see any important and pertinent updates as they occur.

Much appreciated.

[JoTheKhan]

I don't mind the Board meetings where NDA/private/confidential information is discussed, I trust that these meetings will not cause board members to do insider trading (I believe they were selected on credentials and not share amount right?).

The problem are these Rich Kid Only Shareholder meetings. If Hypothetical Jim has the right to attend a meeting solely on the amount of shares he has. Then I have just as much right to be in that meeting; whether I am allowed to voice an opinion on the meeting does not matter to me. But I DO NOT feel safe with Jim knowing information before I do, especially since he has the power to manipulate share price. I would like the chance to hear it at the same time he does.

So unless the share is locked during/right after the meeting, then no new information should be presented at this Rich Kid Only meeting.

It is disrespectful and unprofessional to say that because I haven't invested a certain amount of BTC into this company that I am excluded from any shareholder meeting. I Hold Shares; therefore the shareholder meeting is for me, hell it is named after my title with the company. A Shareholder is allowed into a shareholder's meeting. Case closed.

I do not know and frankly do not care if it is done differently in the real world. The real world has regulations to protect shareholders. This new community does not have these same rules and regulations and therefore it is up to the company and the shareholders themselves to product against misconduct such as insider trading.

This is difficult to understand... 
You would be happy if some guys on the interwebs promise you not to discuss this virtual company behind your back?  What's to stop them from doing it, regardless?

I do not want anyone to promise anything. I'd expect the board members to hold board meetings. I'd also expect to be able to sit in on a shareholders meeting.

[AstroBoy]

This is the Official Active Mining Discussion Thread.  So lets discuss.

Lets also have a locked "Official ActiveMining Announcement Thread" and solve the problem that way.  Trolls will be Trolls.

[iCEBREAKER]

I don't mind the Board meetings where NDA/private/confidential information is discussed, I trust that these meetings will not cause board members to do insider trading (I believe they were selected on credentials and not share amount right?).

The problem are these Rich Kid Only Shareholder meetings. If Hypothetical Jim has the right to attend a meeting solely on the amount of shares he has. Then I have just as much right to be in that meeting; whether I am allowed to voice an opinion on the meeting does not matter to me. But I DO NOT feel safe with Jim knowing information before I do, especially since he has the power to manipulate share price. I would like the chance to hear it at the same time he does.

So unless the share is locked during/right after the meeting, then no new information should be presented at this Rich Kid Only meeting.

It is disrespectful and unprofessional to say that because I haven't invested a certain amount of BTC into this company that I am excluded from any shareholder meeting. I Hold Shares; therefore the shareholder meeting is for me, hell it is named after my title with the company. A Shareholder is allowed into a shareholder's meeting. Case closed.

I do not know and frankly do not care if it is done differently in the real world. The real world has regulations to protect shareholders. This new community does not have these same rules and regulations and therefore it is up to the company and the shareholders themselves to product against misconduct such as insider trading.

This is difficult to understand... 
You would be happy if some guys on the interwebs promise you not to discuss this virtual company behind your back?  What's to stop them from doing it, regardless?

I do not want anyone to promise anything. I'd expect the board members to hold board meetings. I'd also expect to be able to sit in on a shareholders meeting.

ACTM gets more like a cult every day. 

The unwashed deserve only recruitment propaganda.  If they refuse to join, to hell with'em!

If you shell out enough BTC for 100,000 shares (~$50,000) you may attend cult services.

Those demonstrating extraordinary unfailing devotion and committing to rabid, rigid offense against the cult's enemies (chiefly apostates and would-be de-programmers) are selected for the Holy Board, wherein they receive the sacred ear-whispered NDA Truths of the Inner Sanctum.

Any resemblance to Scientology is sheer coincidence, of course. 

[alexius89]

Have a look guys:

https://bitcointalk.org/index.php?topic=273887

10,000 Chips for half of the retail price.

Maybe something for ActiveMining?

[pheaonix]

Have a look guys:

https://bitcointalk.org/index.php?topic=273887

10,000 Chips for half of the retail price.

Maybe something for ActiveMining?

looks soooo scammy

[Ozymandias]

I ran the numbers on those chips and they would be a real gamble even at half off. With 75-90% monthly increases we would have to get the chips into Avalon clones and hashing no later than the first half of October to make any sort of profit.

[CoinHoarder]

I ran the numbers on those chips and they would be a real gamble even at half off. With 75-90% monthly increases we would have to get the chips into Avalon clones and hashing no later than the first half of October to make any sort of profit.

The network hash rate is unlikely to continue to grow at 75-90% for the next 12 months, as it becomes less profitable to buy mining equipment the increases will level off and likely drop.

[ffssixtynine]

So unless the share is locked during/right after the meeting, then no new information should be presented at this Rich Kid Only meeting.

Some points:

- There will be no general shareholder meeting. There is no need for one since you can speak to anyone, including Ken even, at any time. If there is company news to share, it'll be posted on this forum.

- I suggest again that you look around as you're clearly new to this and unaware of how even the best known of Bitcoin securities works with regards to 'rich kids'. ActiveMining is and always has been very open, too open it could be argued.

- I can't speak for you, but none of the people we're dealing with are children or could be called a 'rich kid'. You're talking about some people with years of business experience, CEO types, and some generally very successful people. Just because this is an Internet forum does not mean you're dealing with teenagers.

- What PR mentioned is a meeting to discuss general progress, to generate ideas, a forum to discuss certain things with people we know have a long term interest in the company or who we know can help. Someone who has a significant proportion of shares is very likely to have the long term interest at heart since disposal of those shares in any quick manner isn't possible on Bitcoin markets. Even then, it's not a right because the aim is to be productive in a controlled manner where every word isn't analysed and picked apart and distorted to suit certain people's needs. That would defeat the purpose of it and be potentially destructive - you can see how everything is picked apart in Bitcoin offerings as it is.

- As already mentioned, there will be no significant new information released for these meetings. There is simply no reason to do that apart from anything else. If there is news to share, far better to tell everyone!

This is my last post on this topic. If you continue to have a problem with it, please take it up privately.

[Ozymandias]

I ran the numbers on those chips and they would be a real gamble even at half off. With 75-90% monthly increases we would have to get the chips into Avalon clones and hashing no later than the first half of October to make any sort of profit.

The network hash rate is unlikely to continue to grow at 75-90% for the next 12 months, as it becomes less profitable to buy mining equipment the increases will level off and likely drop.

Just 6 months of that sort of growth will take the chip income to near the cost electricity for a net 0 profit.

[Stuartuk]

ff - before you sign off on this one can you please confirm that commercially sensitive news that may effect share price will be given to the Board at the same time it is given to the share holders and that is by a post on this thread only? Thanks.

[CoinHoarder]

ff - before you sign off on this one can you please confirm that commercially sensitive news that may effect share price will be given to the Board at the same time it is given to the share holders and that is by a post on this thread only? Thanks.

This sounds like a sensible policy. IMO the board should be disbanded. There's too much opportunity for inside trading with NO regulation or oversight like in the real world with the SEC.