[ActiveMining] The Official Active Mining Discussion Thread

[ffssixtynine]

But FFS it just doesn't make financial sense for the company to pay these back as dividends. I personally believe it would be very irresponsible.

Vince, if you're a public company and you raise money with a prospectus defining what it'll be used for, you can't then just change it's use. If you're a private company then you can do what you want.

ActiveMining is in a grey area in between.

It's not as simple as, "it's ActiveMining's money to do with as they wish" - shareholders have different opinions too.

I can go either way but 50:50 works for me. Other opinions may differ.

[N_S]

Vince, if you're a public company and you raise money with a prospectus defining what it'll be used for, you can't then just change it's use. If you're a private company then you can do what you want.

ActiveMining is in a grey area in between.

It's not as simple as, "it's ActiveMining's money to do with as they wish" - shareholders have different opinions too.

I can go either way but 50:50 works for me. Other opinions may differ.

It's going to be hard to argue that 100% reinvestment isn't in the company's best long term interest.

[redbeans2012]

I'm in favor of 100% reinvestment.

+1

[kleeck]

Meanwhile, in a real (IE full custom) 3rd gen ASIC company...

HashFast's Golden Nonce GN ASIC successfully taped-out yesterday, Wednesday the 28th, and has been released for 28nm fabrication to a well-known, leading-edge foundry.  More details will follow in next week's joint press release.

-John

As the ACTM Cheerleaders dither about how best to waste an Avalon refund which belongs to Ken...

It's kind of awkward that everyone is entering chip fab and are piecing together their prototypes while we're being reminded there's an NDA.

Why is it awkward?  Because HashFast managed to tape-out a full custom 28nm chip without a Board of Yes-men?  

Or because those Yes-men wasted a lot of money by ignoring me, anchoring their oar-less little canoes in front of my 75,000 horsepower, dual nuclear reactor-powered icebreaker?  

There is room for other 28nm players, provided they are full custom.  Cointerra will play AMD to Hashfast's Intel.  KnC may be the nVidia.  

But ACTM is destined to be the Cyrix of Bitcoin ASICs.  Sure, they'll spin their wheels and waste a lot of money.  But their 386SX ('sucks') chip won't compete with the full custom Golden Nonce which taped out yesterday and is on its merry way to TSMC, Fujitsu, or whatever advanced fab has the honor of making them.  

Yes. We are all excited to see them enter the market in December.  

[ffssixtynine]

It's going to be hard to argue that 100% reinvestment isn't in the company's best long term interest.

In pure company terms absolutely, but there are shareholders who have been unhappy and understandably so, and there are shareholders who expected dividends sooner rather than later.

We've let Ken know there is some support at 100%.

[Stuartuk]

I voted for 50/50 earlier but if the Board and Ken think the company would be better to re-invest it all and that would improve long term prospects then that's cool.

[N_S]

We've let Ken know there is some support at 100%.

We appreciate it!

[iCEBREAKER]

Vince, if you're a public company and you raise money with a prospectus defining what it'll be used for, you can't then just change it's use. If you're a private company then you can do what you want.

ActiveMining is in a grey area in between.

It's not as simple as, "it's ActiveMining's money to do with as they wish" - shareholders have different opinions too.

I can go either way but 50:50 works for me. Other opinions may differ.

It's going to be hard to argue that 100% reinvestment isn't in the company's best long term interest.

It's Ken's money, not ACTM's. 

As Chairman Emeritus, it is my humble suggestion that he reserve it for additional hashpower, whether from our own or other companies' chips.

[redbeans2012]

Is ordering the cheaper friedcat blades out of the question?

[VolanicEruptor]

Is ordering the cheaper friedcat blades out of the question?

You're joking right?

[VinceSamios]

But FFS it just doesn't make financial sense for the company to pay these back as dividends. I personally believe it would be very irresponsible.

Vince, if you're a public company and you raise money with a prospectus defining what it'll be used for, you can't then just change it's use. If you're a private company then you can do what you want.

ActiveMining is in a grey area in between.

It's not as simple as, "it's ActiveMining's money to do with as they wish" - shareholders have different opinions too.

I can go either way but 50:50 works for me. Other opinions may differ.

The original funds were for hashing power, they should be used for hashing power. There are also serious considerations and concerns with paying out a disproportionately large dividend this early on in the piece.

The one thing that is lacking from the board is business acumen. Also, there isn't "some support" for 100% reinvestment, the MAJORITY favour this option.

[ffssixtynine]

I voted for 50/50 earlier but if the Board and Ken think the company would be better to re-invest it all and that would improve long term prospects then that's cool.

Clearly if Ken reinvests the money then it's better in the long term as long as all the plans are followed through.

That decision ought to have strong back though, so please keep posting.

[VolanicEruptor]

I believe the money shall be used as a bribe for eASIC to throw away NDA and let us know what the fuck is going on.  I would pay big money for that.

[ffssixtynine]

The original funds were for hashing power, they should be used for hashing power. There are also serious considerations and concerns with paying out a disproportionately large dividend this early on in the piece.

The one thing that is lacking from the board is business acumen. Also, there isn't "some support" for 100% reinvestment, the MAJORITY favour this option.

Vince, a key part was earning dividends from Avalon in the very near future, if not now. It's not Ken's fault that's gone screwy, but you don't speak for all shareholders. Also, a refund doesn't have to be paid back in one dividend.

I've clearly said it's better for the business (to reinvest) and I've also clearly said that there are also shareholders of various kinds to consider who have given us different feedback (certainly on more than this public page).

When I said 'some' support I meant that in a positive sense BTW and let Ken know accordingly.

[ffssixtynine]

I believe the money shall be used as a bribe for eASIC to throw away NDA and let us know what the fuck is going on.  I would pay big money for that.

$5k?

[VolanicEruptor]

I believe the money shall be used as a bribe for eASIC to throw away NDA and let us know what the fuck is going on.  I would pay big money for that.

$5k?

I would pay that.. yes. 

[Stuartuk]

Clearly if Ken reinvests the money then it's better in the long term as long as all the plans are followed through.

If an investor isn't confident about a total re-invest they wouldn't be happy holding any shares atall surely? I'd just be putting my 'super-div' (TM) into more shares, but if a reinvest makes the shares I hold already worth 10% more in the long run that's a better deal?

[iCEBREAKER]

I believe the money shall be used as a bribe for eASIC to throw away NDA and let us know what the fuck is going on.  I would pay big money for that.

LOL VE, good to see you back to your usual voluble self.   

IDK why you are so eager to know whether ACTM's <20GH failASIC is on schedule or not.

Wouldn't you rather pay the cancellation fee to get back whatever we can salvage out of eASIC, and buy some real 28nm chips to deploy down the Batcave?

[redbeans2012]

Is ordering the cheaper friedcat blades out of the question?

You're joking right?

Um. No? 

[ffssixtynine]

I believe the money shall be used as a bribe for eASIC to throw away NDA and let us know what the fuck is going on.  I would pay big money for that.

$5k?

I would pay that.. yes. 

Go pay them and see if it works