[ActiveMining] The Official Active Mining Discussion Thread

[wasubii]

All that matters is $/Gh and delivery date. 130nm chips may pay for themselves within a month if they're all up and running by the end of October. 28nm chips may never pay for themselves if they're delivered in February.

GH/W is just as important. If it takes 4x as much power to get the same hashrate then there are going to be issues scaling to compete with companies producing lower power chips. This is likely the reason that ASICMINER is having so much difficulty expanding beyond ~50TH/s -- the amount of power infrastructure required to expand becomes enormous, and LABCOIN will likely face the same issue after its first 50TH/s is deployed.

I live in China - there was a bitcoin documentary on one of the state run 'CCTV' channels a while back and they interviewed people 'familiar with' the operations at ASICminer. Their private fundraising presentation talked about not expanding past 30% hash share so that they didn't undermine bitcoin itself. Imagine if they had 60% of the hash rate, people would be running around claiming the end was nigh because the chinese now 'controlled' bitcoin. What do you think that would do to the market confidence in bitcoin and hence the USD rate?

I'm not usually one for wild predictions but i imagine that as the network hash rate grows, ASICminer has the chips ready to deploy to maintain their market share - if something is profitable you can always find way to support the 'power infrastructure' - there a tons of server farms in china! And anyone who thinks ASICminer only has 130nm chips ready to deploy is just kidding themselves.

The fact that they have chosen to hover around 30% hash share just shows that they want bitcoin to be a strong network with more than a monopoly controlling it - something that would only hasten the demise of the golden goose! A smart, long term move if you ask me.

[ffssixtynine]

1) updated roadmap
2) high level project plan (task list, back log or what ever you like to call it) with milestones, dates and cost estimates
3) detailed, short term project plan with milestones, dates and cost estimates
4) regular updates to 1-3
5) financial statements like CF, PL
6) update balance sheet

1) Spoken to Ken about this. Some dates have been updated on the website but there is more to be done.

2 and 3) You're not going to get these as you're not a private investor. If it were my company, I'd certainly consider that proprietary information and would not disclose it. We know for sure that Ken isn't going to release these details.

Additionally, I can tell you 100% that much of this IS COVERED by the NDA and that's not unusual. Virtually all of my NDAs/Contracts consider milestones, dates and cost estimates strictly confidential.

That said, we're on at Ken to get some things excused from the NDA with regard to dates (at least as estimates) as they're important.

4) With regard to (1), yes. There is a balancing act to play with regard to timing of information release and it's one that's going on with competitors. VMC/ActM are poor in this regard.

5/6) I know this is Bitcoin but some of this you're not going to get all of that, or frequently, and nor should you as you're not a private investor. However, there are supposed to be some monthly accounts and ActM are definitely behind on this (in time and quality). They've ended up low priority compared to everything else so we're doing what we can to get that up the priority list. No excuses from us, we also think it needs to be sorted.

In summary, if you were a private investor then you're asking fair questions. However, you are not and much of your list just isn't suitable. Where they are, I've covered them where I can and I'm certainly not going to defend the situ on monthly statements or the roadmap (although this genuinely has been affected by the NDA).

[stslimited]

bitfunder is annoying

[Stuartuk]

1) updated roadmap
2) high level project plan (task list, back log or what ever you like to call it) with milestones, dates and cost estimates
3) detailed, short term project plan with milestones, dates and cost estimates
4) regular updates to 1-3
5) financial statements like CF, PL
6) update balance sheet

How many times do you need to repeat these same old demands? You've been told countless times by PR and Ken that this is all under a commercial confidentiality agreement. Do you not get that? Really??

If you don't agree with me confronting the Trolls that's fine. But the fact is they are filling the news void with FUD and share price has tanked partly due to that coordinated assault . If they are left to it they will grind this share further into the ground. I tried ignoring them before and what happened - we got Mabsarks week long attack on ACtM and he drove investors over to LabCon. So ignoring them clearly doesn't work does it?

The other thing that will grind this share further into the ground is the sort of unfulfillable demands you CONSISTENTLY come out with - despite you being made fully aware that this info CANNOT be released. Every time you make these demands which you know cant be answered you make the company look like laughing stock. Keeping you quiet is actually one of my strategies, as you are a fool.

[crumbs]

All that matters is $/Gh and delivery date. 130nm chips may pay for themselves within a month if they're all up and running by the end of October. 28nm chips may never pay for themselves if they're delivered in February.

GH/W is just as important. If it takes 4x as much power to get the same hashrate then there are going to be issues scaling to compete with companies producing lower power chips. This is likely the reason that ASICMINER is having so much difficulty expanding beyond ~50TH/s -- the amount of power infrastructure required to expand becomes enormous, and LABCOIN will likely face the same issue after its first 50TH/s is deployed.

I live in China - there was a bitcoin documentary on one of the state run 'CCTV' channels a while back and they interviewed people 'familiar with' the operations at ASICminer. Their private fundraising presentation talked about not expanding past 30% hash share so that they didn't undermine bitcoin itself. Imagine if they had 60% of the hash rate, people would be running around claiming the end was nigh because the chinese now 'controlled' bitcoin. What do you think that would do to the market confidence in bitcoin and hence the USD rate?
...

Don't bother with logic in this thread.  As i understand it, the Advisory Board is planning to pwn a lamb without blemish for a burnt offering unto the LORD Ken.  We'll see how that goes, some members insisted a goat was moar appropriate.

I'll leave a difficulty chart for the nonbelievers & tinfoilset.  REPENT!

[stereotype]

Is anybody else thinking, that a certain individual is off the scale, as far as narcissism goes?

Just a  would do.

[Stuartuk]

Imagine if they had 60% of the hash rate, people would be running around claiming the end was nigh because the chinese now 'controlled' bitcoin. What do you think that would do to the market confidence in bitcoin and hence the USD rate?

Interesting point but, if they have the capacity why don't they simply mine the 30%+ under a different name? If the China issue was even relevant (which it isn't really as China already controls the worlds rare earth metals market and holds the largest portion of US national debt outside the US) they could mask their location couldn't they?

[Mabsark]

1) updated roadmap
2) high level project plan (task list, back log or what ever you like to call it) with milestones, dates and cost estimates
3) detailed, short term project plan with milestones, dates and cost estimates
4) regular updates to 1-3
5) financial statements like CF, PL
6) update balance sheet

How many times do you need to repeat these same old demands? You've been told countless times by PR and Ken that this is all under a commercial confidentiality agreement. Do you not get that? Really??

If you don't agree with me confronting the Trolls that's fine. But the fact is they are filling the news void with FUD and share price has tanked partly due to that coordinated assault . If they are left to it they will grind this share further into the ground. I tried ignoring them before and what happened - we got Mabsarks week long attack on ACtM and he drove investors over to LabCon. So ignoring them clearly doesn't work does it?

The other thing that will grind this share further into the ground is the sort of unfulfillable demands you CONSISTENTLY come out with - despite you being made fully aware that this info CANNOT be released. Every time you make these demands which you know cant be answered you make the company look like laughing stock. Keeping you quiet is actually one of my strategies, as you are a fool.

Why do you care if the share price has tanked? You keep claiming to be a long term investor so the current price shouldn't even bother you.

I'm starting to think you bought in at around 0.008 BTC and now want to get out and in to Labcoin. All your whining is because you can't sell your shares without taking a big loss. You're just jealous.

[Stuartuk]

Don't bother with logic in this thread.  As i understand it, the Advisory Board is planning to pwn a lamb without blemish for a burnt offering unto the LORD Ken.  We'll see how that goes, some members insisted a goat was moar appropriate.

I'll leave a difficulty chart for the nonbelievers & tinfoilset.  REPENT!

I'm confused as your reply has nothing whatsoever to do with the post you are apparently responding to.

And the chart is to backup what point? Difficulty is going up quickly? Maybe that's why we have a super quick ASIC manufacturer onboard. Maybe eh?

[Stuartuk]

I'm starting to think you bought in at around 0.008 BTC and now want to get out and in to Labcoin. All your whining is because you can't sell your shares without taking a big loss. You're just jealous.

Utter BS. Go back to the LabCoin thread your shares need more pumping as they are nose-diving!!! LOLZ

The quicker ACtM price recovers the more money this fool will loose.

[crumbs]

Don't bother with logic in this thread.  As i understand it, the Advisory Board is planning to pwn a lamb without blemish for a burnt offering unto the LORD Ken.  We'll see how that goes, some members insisted a goat was moar appropriate.

I'll leave a difficulty chart for the nonbelievers & tinfoilset.  REPENT!

I'm confused as your reply has nothing whatsoever to do with the post you are apparently responding to.

You're confused because you're stupid.  Always go for the simplest, most obvious explanation.

And the chart is to backup what point? Difficulty is going up quickly? Maybe that's why we have a super quick ASIC manufacturer onboard. Maybe eh?

As far as you're concerned?  Just enjoy the colors & learn about shapes.

[wasubii]

Imagine if they had 60% of the hash rate, people would be running around claiming the end was nigh because the chinese now 'controlled' bitcoin. What do you think that would do to the market confidence in bitcoin and hence the USD rate?

Interesting point but, if they have the capacity why don't they simply mine the 30%+ under a different name? If the China issue was even relevant (which it isn't really as China already controls the worlds rare earth metals market and holds the largest portion of US national debt outside the US) they could mask their location couldn't they?

Good point - i dont claim to know anything beyond what i and the rest of the audience saw - perhaps ASICminer are already starting to bring more hash online through pseudonyms. I dont know.

I just find it hard to believe that the company that was first to market with an ASIC and has been creaming fat profits since would; contrary to the benefit of all the shareholders (the founders included no doubt), decide to forgo any future chip development. Lets also remember that the company is run in China where a large proportion of the worlds electronics are produced and assembled. I do not think, given the massive early profits, that they would have had trouble creating a second and third generation chip in order to keep the good times a rollin'

Just speculation of course and sorry for going off topic. Lets get back to Ken and ActM

 

[Mabsark]

I'm starting to think you bought in at around 0.008 BTC and now want to get out and in to Labcoin. All your whining is because you can't sell your shares without taking a big loss. You're just jealous.

Utter BS. Go back to the LabCoin thread your shares need more pumping as they are nose-diving!!! LOLZ

The quicker ACtM price recovers the more money this fool will loose.

Someone sold 180,000 shares 3 hours ago which took the price down to 0.002988 BTC. The last LC share sold was for 0.00361300 BTC about 30 minutes ago.

Do you see me crying about that drop in share price. I say good for them if they made a profit. If they could have waiting just one more week though, they would have made 3x more profit.

[crumbs]

Don't bother with logic in this thread.  As i understand it, the Advisory Board is planning to pwn a lamb without blemish for a burnt offering unto the LORD Ken.  We'll see how that goes, some members insisted a goat was moar appropriate.

I'll leave a difficulty chart for the nonbelievers & tinfoilset.  REPENT!

I'm confused as your reply has nothing whatsoever to do with the post you are apparently responding to.

You're confused because you're stupid.  Always go for the simplest, most obvious explanation.

And the chart is to backup what point? Difficulty is going up quickly? Maybe that's why we have a super quick ASIC manufacturer onboard. Maybe eh?

As far as you're concerned?  Just enjoy the colors & learn about shapes.

Crumbs, give it up man.

Everyone is aware of the "impending doom" that is the genesisblock mining calculator.

It's made for morons and those same morons use it to model their ROI.

This is not a calculator, Bargraphics.  It's a chart of things that *have already happened*.  If the facts seem frightening, adapt or die.

[snip]

[LorenzoMoney]

When the Chinese control 60% or more of the hashing of Bitcoin, I am going to use some of the profits I will have from ActM and hire a pretty teacher to teach me Mandarin!

All that matters is $/Gh and delivery date. 130nm chips may pay for themselves within a month if they're all up and running by the end of October. 28nm chips may never pay for themselves if they're delivered in February.

GH/W is just as important. If it takes 4x as much power to get the same hashrate then there are going to be issues scaling to compete with companies producing lower power chips. This is likely the reason that ASICMINER is having so much difficulty expanding beyond ~50TH/s -- the amount of power infrastructure required to expand becomes enormous, and LABCOIN will likely face the same issue after its first 50TH/s is deployed.

I live in China - there was a bitcoin documentary on one of the state run 'CCTV' channels a while back and they interviewed people 'familiar with' the operations at ASICminer. Their private fundraising presentation talked about not expanding past 30% hash share so that they didn't undermine bitcoin itself. Imagine if they had 60% of the hash rate, people would be running around claiming the end was nigh because the chinese now 'controlled' bitcoin. What do you think that would do to the market confidence in bitcoin and hence the USD rate?

I'm not usually one for wild predictions but i imagine that as the network hash rate grows, ASICminer has the chips ready to deploy to maintain their market share - if something is profitable you can always find way to support the 'power infrastructure' - there a tons of server farms in china! And anyone who thinks ASICminer only has 130nm chips ready to deploy is just kidding themselves.

The fact that they have chosen to hover around 30% hash share just shows that they want bitcoin to be a strong network with more than a monopoly controlling it - something that would only hasten the demise of the golden goose! A smart, long term move if you ask me.

[Stuartuk]

It's a chart of things that *have already happened*.  If the facts seem frightening, adapt or die.

I am QUAKING in my boots that this is actually possible. Difficulty is going UP you say? And that increase is like, getting a bit BIGGER each cycle?

OMG WHY DIDN'T SOMEONE TELL US THIS BEFORE!!!

You will be telling us the sun goes down at the end of the day next and that as a result ACtM will have to turn their lights on which will cost money. I love how all the other ASIC operators work through the darkness using nothing but touch.

[LorenzoMoney]

 
You praise StuartrollUK, yet you have him on ignore.
That is clever!
And you claim he is embarrassing the trolls. And, since you have him on ignore, how would you know?

I have a neighbor who feeds the stray cats by placing bowls of cat food in from of the side of her house. Now the raccoons are coming to feed alongside the cats. She says she is actally reducing the number of cats in the neighborhood because she traps the cats, gets them fixed and then releases them, and feeds them, but from what I see, there are more cats here than before. Yes, feeds the cats or trolls. Respond to every one of their silly demands. If Stuart The UK Troll WERE banned, I bet some of the trolling would disappear.

At least someone is fighting against the blatant trolling in ActM. I personally put them on ignore, but it is satisfying that he's able to embarrass them so easily.

[crumbs]

It's a chart of things that *have already happened*.  If the facts seem frightening, adapt or die.

I am QUAKING in my boots that this is actually possible. Difficulty is going UP you say? And that increase is like, getting a bit BIGGER each cycle?

OMG WHY DIDN'T SOMEONE TELL US THIS BEFORE!!!

Because they do not like u.  Ur a spaz.

You will be telling us the sun goes down at the end of the day next and that as a result ACtM will have to turn their lights on which will cost money. I love how all the other ASIC operators work through the darkness using nothing but touch.

Calm down.  And stop saying "other ASIC operators."  ActM is not an ASIC operator -- it has no ASICs, sunshine.

[Stuartuk]

Because they do not like u.  Ur a spaz.

.....it has no ASICs, sunshine.

ha ha looks like I upset you? Are you a wittle bit upsetty now? Ahhh

Freak.

[Stuartuk]

Yes, feeds the cats or trolls. Respond to every one of their silly demands. If Stuart The UK Troll WERE banned, I bet some of the trolling would disappear.

The most silly and damaging demand made on here all day has been EskimoBobs  - and now thankfully he has shut TF up.

All the rest has been waffle but tell you what Lorenzo. As you have PM'ed me multiple times telling me to shut up I'll do so. It's all yours now. See how you get on. I don't know what the feck you are going to talk about, but hey maybe another week of silence will do wonders for the share price. Be seeing you.