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

[hak8or]

It's Friday kids. That means EVERYONE on BITFUNDER now has SIX days to tender their shares before the CUT-OFF DATE.

This is how you do that


Log in to BF.
Go to the 'Transfer' page.
Select 'ActiveMining' shares.
Select amount - (all your shares)
Input AMC-TENDER into Username box
Click TRANSFER.

Before you do that, go to the 'Settings' page and make sure your 'Public Bitcoin Address' is one that you can sign from -  eg a Blockchain Wallet- https://blockchain.info/wallet

Take a screenshot of your tender confirmation page and save it. You do not need to email or PM Ken. You may be asked at some point in the future to sign from your wallet address (with your Bitfunder name) to prove you are the owner of that address.

Easy enough?

Announcement:
https://bitcointalk.org/index.php?topic=297543.msg3492434#msg3492434

Thank you, this is exactly what should be posted, simple steps with no assumptions. This should be stickied even to the top of the securities section, along with instructions for other securities participating, so people can know what to do without asking over and over.

[minerpart]

I love you all too. Sniff.

If this all goes down the shitter, can we have this as the ACtM Support Group theme tune?

http://www.youtube.com/watch?v=Uok45fZ44f8

[zumzero]

If it goes down the shitter we could get cleaning jobs in Springfield Underground with Uncle Ken as our supervisor..

'Making good use of the things that we mine.."

http://www.youtube.com/watch?v=FZ2mJPSccvo

[drawingthesun]

With the Blocks taking around 9-10 minutes instead of the usual 6 - 8 minutes this would be a very good time to get some hash power from the first batch.

I am hoping we are hashing at 20TH/s - 50TH/s in a week at least. I know NDA and such but this is a real shame as its the best time to get the miners on now...

Please Ken...

[kleeck]

With the Blocks taking around 9-10 minutes instead of the usual 6 - 8 minutes this would be a very good time to get some hash power from the first batch.

I am hoping we are hashing at 20TH/s - 50TH/s in a week at least...

Please Ken...

Highly unlikely.

[drawingthesun]

With the Blocks taking around 9-10 minutes instead of the usual 6 - 8 minutes this would be a very good time to get some hash power from the first batch.

I am hoping we are hashing at 20TH/s - 50TH/s in a week at least...

Please Ken...

Highly unlikely.

Isn't this the time the first batch comes? Or am I off with the schedule?

[kleeck]

With the Blocks taking around 9-10 minutes instead of the usual 6 - 8 minutes this would be a very good time to get some hash power from the first batch.

I am hoping we are hashing at 20TH/s - 50TH/s in a week at least...

Please Ken...

Highly unlikely.

Isn't this the time the first batch comes? Or am I off with the schedule?

I said this somewhere. Maybe it was on your Reddit post. It all comes down to how many chips Ken could afford and how many orders he has to fill. If all of his first batch just fill orders then the mining operation may be pushed off. I don't know how he is prioritizing but I'm sure he's thinking about it. This time next Friday we should know where we stand with the prototypes, future hashing, and how many orders need to be filled.

[Nosniw]

Speaking of business plan...

You stated this:

What are the current plans for chip development?
ActiveMining is developing a 28nm Bitcoin mining chip using eASIC.

• Chip samples delivered in 9 weeks;
• Low-volume chip production starting in 12 weeks, using an e-beam process;
• Normal volume chip production starting in 16-18 weeks.

Does this timeline start at the completion of the NRE payment?

No

Does this timeline start at the time of the post?

No

[/quote]

Ken, can we be told about the starting date of the timeline mentioned above?
Or is it a part of NDA?

[chairforce1]

This time next Friday...

My first thoughts were:

1) China buys all the BTC
2) BTC is at $1000000

[Vigil]

Hopefully there is just a random announcement: "Mining rigs will be shipping on _______." Soon.

[knybe]

Next week will be an interesting one…

[aquarius]

Hopefully there is just a random announcement: "Mining rigs will be shipping on _______." Soon.

I think this is the most likely scenario.

[zumzero]

I think a lot of ActM investors will be heading for the exit as soon as the share price hits 0.0025 - 0.003

A lot of people have been sweating as they've seen their investments fall up to 70% and will be happy just to recover their bitcoin given the recent spike in value against fiat currencies.

I expect there will be be a number of good news announcements prior to the shares becoming tradable again and this is going to be quite a quandary for most.

The moment the ActM market opens for business the share price will explode with panic buying on one side and a few whales and weak hands who lost faith rushing to sell.

In terms of speculating our progress, it's fine piecing together dates from an old post, but as Ken doesn't inform us as to when certain milestones have been met, he's not going to share with us any delays that may have occurred.  

Let's face it, this industry is all about delays is it not?

[Bargraphics]

Who said there were problems? Last time I checked we were on schedule.

Might want to fix your watch/calender

I'd like to see your "functioning" watch/calender.

Just like the rest of the lazy ass shareholders on here I have to do the work for you.

NRE Stated as Funded - July 20th, 2013

The NRE, which I believe is the most important and most critical, to the success of the project has been funded. This is a great time for the company and all of its shareholders.

+ 9 Weeks (Chip Samples)

• Chip samples delivered in 9 weeks;

Saturday, September 21, 2013

+ 12 Weeks (Low Volume Production)

• Low-volume chip production starting in 12 weeks, using an e-beam process;

Saturday, October 12, 2013

+ 16 - 18 Weeks

• Normal volume chip production starting in 16-18 weeks.

Saturday, November 9, 2013 - Saturday, November 23, 2013

You base your "functioning" calendar off of the assumption that the copy/pasted eASIC timeline starts when Ken posts? Ken has not specified when that "9 weeks" starts.

Examples of laziness below:

Speaking of business plan...

You stated this:

What are the current plans for chip development?
ActiveMining is developing a 28nm Bitcoin mining chip using eASIC.

• Chip samples delivered in 9 weeks;
• Low-volume chip production starting in 12 weeks, using an e-beam process;
• Normal volume chip production starting in 16-18 weeks.

Does this timeline start at the completion of the NRE payment?

No

Does this timeline start at the time of the post?

No

Everyone understands that obviously the "Timeline" didn't start at this point. eASIC doesn't just bullshit it's customers with their timelines (Hell their whole business model revolves around guaranteed/short timelines). However this is all we have to go on so it is where it will start unless Ken directly says that they started 1 week, 2 weeks, 3 weeks, etc... afterwards.

If the prototype actually does come at the end of this month (week 3) it would mean that eASIC started around September 23, 2013 or just about 9 weeks AFTER the NRE was paid.

If Ken said this was true then yes we would be on perfect timing with eASIC however I believe I heard Ken wanted to get prototypes in October if I do recall.

Fast-Hash-One shipping is October/November 2013

Good try though!

[kleeck]

Who said there were problems? Last time I checked we were on schedule.

Might want to fix your watch/calender

I'd like to see your "functioning" watch/calender.

Just like the rest of the lazy ass shareholders on here I have to do the work for you.

NRE Stated as Funded - July 20th, 2013

The NRE, which I believe is the most important and most critical, to the success of the project has been funded. This is a great time for the company and all of its shareholders.

+ 9 Weeks (Chip Samples)

• Chip samples delivered in 9 weeks;

Saturday, September 21, 2013

+ 12 Weeks (Low Volume Production)

• Low-volume chip production starting in 12 weeks, using an e-beam process;

Saturday, October 12, 2013

+ 16 - 18 Weeks

• Normal volume chip production starting in 16-18 weeks.

Saturday, November 9, 2013 - Saturday, November 23, 2013

You base your "functioning" calendar off of the assumption that the copy/pasted eASIC timeline starts when Ken posts? Ken has not specified when that "9 weeks" starts.

Examples of laziness below:

Speaking of business plan...

You stated this:

What are the current plans for chip development?
ActiveMining is developing a 28nm Bitcoin mining chip using eASIC.

• Chip samples delivered in 9 weeks;
• Low-volume chip production starting in 12 weeks, using an e-beam process;
• Normal volume chip production starting in 16-18 weeks.

Does this timeline start at the completion of the NRE payment?

No

Does this timeline start at the time of the post?

No

Everyone understands that obviously the "Timeline" didn't start at this point. eASIC doesn't just bullshit it's customers with their timelines (Hell their whole business model revolves around guaranteed/short timelines). However this is all we have to go on so it is where it will start unless Ken directly says that they started 1 week, 2 weeks, 3 weeks, etc... afterwards.

If the prototype actually does come at the end of this month (week 3) it would mean that eASIC started around September 23, 2013 or just about 9 weeks AFTER the NRE was paid.

If Ken said this was true then yes we would be on perfect timing with eASIC however I believe I heard Ken wanted to get prototypes in October if I do recall.

Fast-Hash-One shipping is October/November 2013

Good try though!

This whole thing started here:

What problems could they really be having? eASIC knows how to make ASICs... the only thing that would make this not work is if the hash generating logic was wrong.

Who said there were problems? Last time I checked we were on schedule.

Might want to fix your watch/calender

I was just being clear that your watch/calender doesn't have any magical indicator that we're NOT on track. Devices CAN be shipping inside November still (low production, of course), and they can certainly be mining - given that in all likely hood we will be mining on a prototype by the end of next week.

If you assert to know something that the rest of us don't you'll be called to account. In this case, you do not. Also, there isn't any need for the childish hostilities. I'm no mindless fanboy. Ken could very well be behind, but we just don't know that yet.

I'd like to apologize if I came off as rude or hostile. I'd like to contribute to an honest flow of information here, not the incessant trolling we're used to.

Cheers.

[minerpart]

I'd like to apologize if I came off as rude or hostile.

Cheers.

This is the ACtM thread dude, wtf is wrong with you.

You need to man-up and tell someone to FO. That's the way it rolls round here.

[zumzero]

Yeah, you think this man said sorry when he cleared out the Iranian Embassy in London? 



No, he got the job done and had a brew.

[Stuartuk]

You'll need more than the SAS to clean up this thread.

[Bargraphics]

I was just being clear that your watch/calender doesn't have any magical indicator that we're NOT on track. Devices CAN be shipping inside November still (low production, of course), and they can certainly be mining - given that in all likely hood we will be mining on a prototype by the end of next week.

If you assert to know something that the rest of us don't you'll be called to account. In this case, you do not. Also, there isn't any need for the childish hostilities. I'm no mindless fanboy. Ken could very well be behind, but we just don't know that yet.

I'd like to apologize if I came off as rude or hostile. I'd like to contribute to an honest flow of information here, not the incessant trolling we're used to.

Cheers.

I understand,

however I try to use every ounce of information Ken gives us (which isn't much)

Fast-Hash-One shipping is October/November 2013

If shipping was on for October at any point then we are at least 3 (The amount of weeks of low volume production) + 3 weeks (What we assume to be the first "Prototypes" to start hashing. So 6 Weeks behind.

There are/were delays 100% sure else we would have had a product to show in October and wouldn't be waiting til end of November for a potential prototype (Let's hope!)

Either way thankfully there are delays on everyone else so we still have a decent chance!

[Stuartuk]

Either way thankfully there are delays on everyone else so we still have a decent chance!

Look at it this way. If we can get 1% market share by around December sometime do you know how much that will be in FIAT with BTC at $350?

Is it still 7200BTC a day being mined or has the block reward been halved?

Lets say it's still 7.2k. 1% would be 504BTC a week.
504x350= 176,400 USD a week we could be making.

With BTC at 1k USD we would be mining 504,000 USD a week.

With BTC at 1k and our share of network at 5% we will be making 2.5MILLION USD per week.

ACtM could be mining for years so lets say this time next year we have 2% of network and BTC is at 5k. We would be making 5MILLION dollars a week.

This is all rough estimate stuff, daily BTC might not still be 7.2k. But you can see the general figures we are talking about.

Whatever you do kids, do NOT sell your ACtM shares, not for anything. Live off the divs.