[ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated]

[drawingthesun]

Probably a good thing for those holding the traditionally cheaper shares on bitfunder. Not a good thing for those holding the traditionally higher priced shares on btc-tc.

Well there are a few walls left to salvage some bitcoin, which is honestly the only secure investment at the moment. Actual fucking bitcoins.

[Puppet]

what reason is there to believe bitfunder will not follow the same path as glbse and btct?
These company shares are contracts that are tradable "for value". In our case, that value happens to be expressed in bitcoins instead of dollars or oil, but that doesnt make them exempt from SEC regulation. Its already been established by SEC that bitcoins do have value, and bitcoin contracts are considered securities. Just ask Pirate. I argued this before the closure of glbse, but it seems that even after pirate, glbse, gigamining and now btct it still hasnt quite sunk in.

My advice: do what giga-vps did. Make these shares compliant with relevant laws regulating issuance and trade of securities. Its not so hard to comply and being compliant makes it whole lot more trustworthy.

[drawingthesun]

what reason is there to believe bitfunder will not follow the same path as glbse and btct?

Damn.

[JoTheKhan]

Is Ken aware of the situation with BTCT?

How are we handling this situation?

Are people just selling at a loss and then buying up on Bitfunder?

If possible I would like to see our Btct shares switched over to Bifunder, but I think that goes with out saying. 

[drawingthesun]

Are people just selling at a loss and then buying up on Bitfunder?

I am selling but not buying any at the moment, just want actual Bitcoins, this story does not end well.

[PurpleTentacle]

Is Ken aware of the situation with BTCT?

How are we handling this situation?

Are people just selling at a loss and then buying up on Bitfunder?

If possible I would like to see our Btct shares switched over to Bifunder, but I think that goes with out saying. 

Ken is probably sleeping right now...

[Puppet]

Even if he is not sleeping, its not reasonable to expect him to come up with a well though out plan mere minutes after btct announced its closing its doors.

[PurpleTentacle]

Even if he is not sleeping, its not reasonable to expect him to come up with a well though out plan mere minutes after btct announced its closing its doors.

I agree and really believe that it won't be an issue to transfer the shares over to bitfunder. It might be a hell lot of work but doable.

[aquarius]

bitfunder has an open asset list which means that if the site gets shut down everyone will still have the information of how many shares are owned by each bitcoin address.

and thus someone can make a new trading platform and migrate those shares on the asset list over there.

[JoTheKhan]

Oh I had no idea that this news just came out. These posts say like 8:xx am. I thought this was posted over 12 hours ago seeing as it is night time where I am at.

[PurpleTentacle]

bitfunder has an open asset list which means that if the site gets shut down everyone will still have the information of how many shares are owned by each bitcoin address.

and thus someone can make a new trading platform and migrate those shares on the asset list over there.

The same thing was forced on btct.co the last few days. You had to specify a public btc address and could not trade without one, so burnside should have such an asset list.

[Puppet]

even if its just hours, the man would barely have had time to speak to legal counsel or explore options like moving the shares elsewhere or taking them off exchange and make them compliant a la gigamining.
What more could you expect from him than "Im aware of the situation and Im looking in to possible solutions"?

[desired_username]

I would be interested in how the transfer is planned. I'm not too fussed to sell my shares. I would rather have them transferred.

[zumzero]

Are people just selling at a loss and then buying up on Bitfunder?

I am selling but not buying any at the moment, just want actual Bitcoins, this story does not end well.

Calm down.  Stop panicking.

[freedomno1]

IMPORTANT NOTICE TO ALL BTC TRADING CORP WEBSITE PARTICIPANTS

As a result of recent changes in the virtual currency regulatory environment, the btct.co and litecoinglobal.com virtual stock market websites will be closing down.  The following is our current schedule:

Approximately a week ago, both sites were closed to any new users and new asset creation was disabled.
 
Effective immediately, in conjunction with this release, trading will be halted, all order books cleared, and trading re-enabled.
 
October 7, 2013, all forms of secondary market trading will be halted on both sites.
 
Approximately October 31, 2013, both sites will be taken offline.  It is strongly suggested that participants take the following steps to protect all of their virtual assets:
 
All participants should take steps to transfer all of your BTC and LTC (and any other data you wish to keep, such as CSV trade histories) held on the sites to your personal computer or another trusted site.
 
All participants should make sure that their public BTC or LTC address is properly set in the Account page on the Settings tab whereby it can be shared with all issuers.
 
All “issuers” should have the contact information concerning their “investors”, and we ask that all “issuers” communicate with their “investors” as soon as possible as to how they will ensure that all are treated appropriately.

We regret this development. However, we want to do everything we can to minimize problems arising from this transition.  It is our goal to keep this shutdown orderly and calm.

Thank you for your participation, creativity, loyalty and sense of community over the past year.  Additional communications will follow as we work out the details.

Ethan Burnside
BTC Trading Corp.

How will dissolution occur
*For future posters just make sure the question is always on the same page so its not missed *

[kleeck]

Just an excerpt from my panicked chat with Ukyo:

<kleeck> You may not have answers for me, but I'll shoot anyways.
<kleeck> Is it possible for ActM holders to have shares transfered over to BF?
<Ukyo> sure. talk to ken
<Ukyo>
<Ukyo> I have no control over actm on btct
<Ukyo> user list
<Ukyo> etc

Let's move on this, Ken.

[kslaughter]

Just a quick note on the BTC-TC shutdown.

We will be looking into this problem today, and will post a solution later today.  All investors on BTC-TC should have their bitcoin address set.  Also, I would have a bitfunder account set up if you don't already have one.

[Subcide]

Thanks for the quick response Ken.

[runam0k]

Just a quick note on the BTC-TC shutdown.

We will be looking into this problem today, and will post a solution later today.  All investors on BTC-TC should have their bitcoin address set.  Also, I would have a bitfunder account set up if you don't already have one.

Thanks for the update, Ken.

[Can people please stop panicking now. This is going to take time to sort out. Weeks, possibly, which I know is an eternity in bitcoin land, but it is what it is. Relax, deep breaths.]

[funkymunky]

Just a quick note on the BTC-TC shutdown.

We will be looking into this problem today, and will post a solution later today.  All investors on BTC-TC should have their bitcoin address set.  Also, I would have a bitfunder account set up if you don't already have one.

On the ball, thank you Ken.

This would be a great time to show ActiveMinings forward thinking by being one of the first major securities to facilitate a working fix for its shareholders.