[ActiveMining] The Official Active Mining Discussion Thread

[creativex]

I'd guess that management at these companies will do fine, but their shareholders will not.

Completely disagree.

Time will tell, however

...based on? Confirmed net hashrate of all the companies I mentioned above is umm...what's ActM's hashrate again? 430Gh? ...and how much have these companies absorbed from the crypto security market? Performance to date is rather unimpressive to put it mildly. Let's add the total market cap of all of these companies and calculate the yield based on their hashrate shall we? I believe that return would be similar to what you'd get from the local counterfeiter banker for opening a savings account.

Growth investors are flocking to these things, yield investors need not bother. So here you have another pure growth play with no growth catalyst for months into the future.

[N_S]

...based on? Confirmed net hashrate of all the companies I mentioned above is umm...what's ActM's hashrate again? 430Gh? ...and how much have these companies absorbed from the crypto security market? Performance to date is rather unimpressive to put it mildly. Let's add the total market cap of all of these companies and calculate the yield based on their hashrate shall we? I believe that return would be similar to what you'd get from the local counterfeiter banker for opening a savings account.

Growth investors are flocking to these things, yield investors need not bother. So here you have another pure growth play with no growth catalyst for months into the future.

Sigh...

Please do the best you can. I'll do the same.

[iCEBREAKER]

eASIC announcement and price adjustment wasn't made until September, so expect next months report to be fucking spectacular.  Thanks again, PR

I just checked the group buy sub, and don't see a single thread for organizing an ACTM purchase.

BitFury?  Of course there are tons! (I'm in one.)

KnC?  Yes, plenty of those!  (I'm in more than a couple.)

HashFast?  Sure, at least 4-5!

CoinTerra?  You bet, I see at 5-6!

ActiveMining?  Hmm that's funny, there don't seem to be any!  

See for yourself: https://bitcointalk.org/index.php?board=137.0

[ffssixtynine]

September 16, 2013

Subject: ActiveMining’s virtual “Board of Advisors” Stand Down

It is with deep regret that we wish to announce that the current ActiveMining’s virtual “Board of Advisors” is standing down, effective immediately.

The reasons for our resignation are threefold:

1) Some members of the board wish to pursue other avenues within the Bitcoin world that are tied to potential conflicts of time and interest, so the ethical choice is to step-down.

2) The board was originally convened primarily to improve upon pressing communication issues and the initial setup of the internal structure of ActiveMining. Despite our best efforts, some issues still remain in these areas, especially Marketing/PR. As such, we have recommended and facilitated the hiring of professional PR services which Ken has agreed to do.

3) Various strategies being undertaken by ActiveMining are contrary to those being advised and incompatible to the beliefs of current advisors to what would be the best overall outcome. At this time, we feel ActiveMining would be better serviced by a new board with a line of thought more in-line with the CEO vision and/or the hiring of key internal staff, such as a Director of Sales and Marketing.

We have made a number of diligences and recommendations, including:

- Engaging professional PR services to resolve what we see as significant PR and marketing issues.
- Creating a high quality website incorporating a new web store (for which we prepared a template).
- Revamping of the product line-up to reduce costs and to increase clarity for customers (for which we provided specifications) from the consumer to the professional market.
- A more strategic approach to the business as a whole, emphasising profitability and stability (for which we provided detailed guidance).
- Reduced emphasis on the CEO being the key decision maker across all areas of the business. In particular, we strongly recommend that ActiveMining hires new staff in key areas.
- Increased communication and clarity for shareholders.
- Increased information for customers.

We are grateful for the opportunity to serve as virtual advisors for ActiveMining since the 20th August 2013, and we offer our best wishes for its success.

[stereotype]

Not a shock at all. Actually glad to hear it.

[ar9]

Is that a quote, or is ffssixtynine a staffie of ActiveMining?

[lewicki]

Is that a quote, or is ffssixtynine a staffie of ActiveMining?

That is our (ffssixtynine lolstate vbs lewicki) public resignation letter.

[SoylentCreek]

Not a shock at all. Actually glad to hear it.

I think the writing has been on the wall for sometime.  I really hope people keep in mind that the Advisory Board were just that, a team of volunteer "advisers."  It became apparent that their vision did not coincide with Ken's.  At the end of the day Ken held the position that he could do whatever he pleased, for better or worse, seeing as it is his company.  I don't know how this will affect the company moving forward, but I am glad that the guys who have been working hard over these last few weeks were able to accomplish what they did, and can now catch up on some much needed sleep.  We'll see where things go from here.  I will say that we need to really stay on top of Ken, and insure that he does deliver on hiring the PR team, which is without a doubt ActM's weakest aspect at the moment.  

Thanks guys, for all of your hard work.

[TMAN]

Sorry guys, you guys would of made a big difference here. Real shame

[N_S]

Sorry guys, you guys would of made a big difference here. Real shame

*would've

Sorry, huge pet-peeve.

[TMAN]

Sorry guys, you guys would of made a big difference here. Real shame

*would've

Sorry, huge pet-peeve.

Mobile device.. Sorry

[SoylentCreek]

Sorry guys, you guys would of made a big difference here. Real shame

Not if Ken was unwilling to actually take their advice.  The board was merely there to advise, not decide.

[thefunkybits]

eASIC announcement and price adjustment wasn't made until September, so expect next months report to be fucking spectacular.  Thanks again, PR

[kingcrimson]

Sorry guys, you guys would of made a big difference here. Real shame

Not if Ken was unwilling to actually take their advice.  The board was merely there to advise, not decide.

It sounds like they wanted to call the shots, and weren't willing to accept anything less.

[VolanicEruptor]

can we please fuck off with the logos already?  We need to focus on something more significant to increase hardware sales, like a new group buy...

[VolanicEruptor]

can we please fuck off with the logos already?  We need to focus on something more significant to increase hardware sales, like a new group buy...

Ever heard of multitasking?

No then suck a dick, which I'm sure most of this thread would prefer you to do instead of yapping away like some giddy school girl.

No.  More.  Logos.  Thank you.

[iCEBREAKER]

September 16, 2013

Subject: ActiveMining’s virtual “Board of Advisors” Stand Down

It is with deep regret that we wish to announce that the current ActiveMining’s virtual “Board of Advisors” is standing down, effective immediately.

The reason for our resignation is

   What a giant waste of time, money, and effort.

"With deep regret?"  LOL, have fun "spending more time with your family."

Besides designing a billion stupid logos, you accomplished nothing.

I told you all a Board of Cheerleading Yes-Men was a worse than worthless pursuit.

Look at how much the share price has tanked since the Board of Cheerleading Yes-Men appointment!

I don't mind being resented, reviled, vilified, and ignored.

Being proven absolutely correct was completely worth 'enduring' (IE enjoying) the screeching of the haters.   

iCEBREAKER
Chairman Emeritus

[kingcrimson]

Are advisory members selling their shares?

[SoylentCreek]

Oh look, iCEBREAKER's back with another round of FUD.  Guess that means he's ready to buy a few more shares. By the way, how's that ICEDRILL IPO doing for you?  Oh... Wait... I forgot.  I have you ignored.  Oh well, guess I'll never know.  Quick! Log back in as crumbs and post another witty photoshop macro.

[granitemouse]

In this bitcoin world, everyone seems far more impatient than in the Wall Street world. I realize that things move faster, technologies involve and change, and the difficulty rate increases. Nobody wants to get left behind putting their money into something that will become obsolete, or miss a better opportunity. I personally have accepted this current timeline and for me the eASIC announcement was enough to solidify my belief that this will pay off.

If some catastrophe were to occur and Ken was not able to deliver what he said he will, I will accept that this is a much riskier somewhat insane form of investing. If it pays off as big as I believe it will, that will be because this is a much riskier somewhat insane form of investing. Whereas I think more information is always helpful, I also personally don't feel entitled to the daily updates everyone is always wanting. I don't know to what things Ken wasn't listening to the board in order to have them all resign, but this is a very new thing and the board had not been in place for that long. I realize that despite these being virtual stock shares, this is not a public company subject to the same parameters. The board was put in place to advise Ken, and it sounded like they were doing that and in some regards progress was being made to bettering the company. To immediately resign perhaps is reflective of the expectations of immediate results that the bitcoin investing world seems to expect.

I am going to continue to trust Ken with the results I am expecting in the coming months. I expect the stock price to either sit or drift downwards until we have those results or until dividends begin to be paid on the presales. I realize this is probably at least six weeks out from now. This isn't so much a cheerleader mentality, but rather the mindset that I got into this expecting something big after the eASIC chips are made, and as far as I know that is in progress so I stopped worrying in the short term. Nobody wants to lose money. After the initial share walls fell and the price began to climb that felt great. When it began to sink I was first disheartened but then stopped worrying. I remembered that I didn't get in to this as a speculative daytrader leaping from stock to stock to make short term profits. I got in to this to reap the longer term rewards of the eASIC partnership and the product this company will manufacture. Nothing has happened to discourage me from my belief that the future is still very bright in that regard.