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Author Topic: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated]  (Read 770358 times)
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SoylentCreek
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January 09, 2014, 07:03:49 PM
Last edit: January 09, 2014, 07:14:23 PM by SoylentCreek
 #7201

I'm sorry, but at this point I have to assume that my investment is gone.  This update was riddled with so many contradictions, that I cannot help but think that Ken is just treading water at this point.

On the matter of when and where we can trade shares:
Quote
As soon as we get time to finish the verification interface; however, our core business comes first and working on Intellihash.

Interesting.  I remember being told weeks ago that this process would be done within a week.  Sounds to me like Ken is quickly becoming aware of the bloodbath it will be the moment trading goes live, and he is holding our shares hostage to delay the inevitable.

On where we are currently at from a development standpoint:
Quote
Our engineers are still designing our board. We had to change our engineering firm, and
learn a few lessons about hiring an engineer firm.  We don't have a date at this time.

So basically, we are at square one, yes?  If a new engineering firm was brought in because the original firm was a collosal fuck up, why are we just now hearing about it?  Secondly, as of 1/1/2014, you guys were "[assembling] our miners for quick delivery."  Err... How have you been assembling miners if there is litterally nothing readily avaiable to go into them.  Oh!  You managed to put a power supply in a case.  Wonderful!  I guess we are well on our way then.

On what he anticipates the hash rate to be by the end of Q1:
Quote
Due to our inexperience with design, we have had a few set backs; however, we have hired
the most competent RTL design team to make sure that when we spin up our chip it will work.  They are
very competent at Low-Power and getting the most speed from the chip.

Uhh... The question was not how awesome the RTL design team was, it was "What do you estimate the ActM hashrate be at the end of January, February and March?" So basically, no hashing can be expected until after March, yes?  

Quote
What I see in the future is Bitcoin's exchange rate for USD going to over $10,000 in the next year.
Oh, so you are willing to go on record and pull an arbitrary Bitcoin valuation out of your ass, but you cannot give us a goddamn estimate of when we will be in full production, or when we can begin trading OUR shares.

Was I helpful or insightful?  Feel free to say thanks! 1PuoasR1dYtNq9yYNJj9NreDAfLEzc3Vpe
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January 09, 2014, 07:32:49 PM
 #7202

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What I see in the future is Bitcoin's exchange rate for USD going to over $10,000 in the next year.
Oh, so you are willing to go on record and pull an arbitrary Bitcoin valuation out of your ass, but you cannot give us a goddamn estimate of when we will be in full production, or when we can begin trading OUR shares.
What he is saying here is: "Unless bitcoin value goes to $10,000 we will not be in a very good position to make this work."
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January 09, 2014, 07:39:37 PM
 #7203

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What I see in the future is Bitcoin's exchange rate for USD going to over $10,000 in the next year.
Oh, so you are willing to go on record and pull an arbitrary Bitcoin valuation out of your ass, but you cannot give us a goddamn estimate of when we will be in full production, or when we can begin trading OUR shares.
What he is saying here is: "Unless bitcoin value goes to $10,000 we will not be in a very good position to make this work."

No he means, dont invest in mining companies. Just buy and hold BTC and save yourself the feeling of failure.
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January 09, 2014, 07:45:34 PM
 #7204

So who thinks the shareholders would have been informed of a few fundamental 'issues', if Bargraphics wasn't visiting?

Breif visit, me thinks.  Undecided
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January 09, 2014, 07:49:37 PM
 #7205

Quote
What I see in the future is Bitcoin's exchange rate for USD going to over $10,000 in the next year.
Oh, so you are willing to go on record and pull an arbitrary Bitcoin valuation out of your ass, but you cannot give us a goddamn estimate of when we will be in full production, or when we can begin trading OUR shares.
What he is saying here is: "Unless bitcoin value goes to $10,000 we will not be in a very good position to make this work."

I sort of took it as that as well. 

Was I helpful or insightful?  Feel free to say thanks! 1PuoasR1dYtNq9yYNJj9NreDAfLEzc3Vpe
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January 09, 2014, 08:33:46 PM
 #7206

Wow!  You really are an imbecile.  Every time you post you reinforce people's negative opinion of you.

edit-  since when has such an opinionated person like Stuart ever said he has no clue about anything, duh?

StuartUK would say something like you just did because he would think that people would be too stupid not to see through it.

I also think you are StuartUK due to the fact you brought up Labcoin in response to me pointing out that customers will be demanding refunds and that by the time ActM start mining, their chips will be useless. StuartUK and zumzero have always pulled that shit but zumzero has been posting as zumzero and I haven't seen any posts from StuartUK.

Therefore, you are most likely StuartUK.



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January 09, 2014, 08:38:25 PM
 #7207

that doesn't mean that a high risk investment in a developing company is automatically a scam.  There is a major difference between scam and failure.
The only thing that concerns me is that Ken was on record on IRC saying "this is a scam" a couple of hundred troll posts back.
Where is that IRC log, anyway?
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January 09, 2014, 08:44:42 PM
 #7208

It was being worked on back then but I can't say how much time it took. Can't say whether it delayed anything much but it would have required some software changes and it was all on Ken to do so. Once I sussed what it was he was doing, we tried to talk him out of it, or at least to wait until the next hardware iteration & hiring in specialists. It was valid R & D, to a point anyway, but the timing was off.

I wouldn't expect it to have resulted in the current delay but neither did I consider it a good spend of the CEO's time during that key period. I don't mind saying that Ken then told us we were backward thinking and weren't innovators. We felt it got a little unpleasant. I still stand by what we said about the tech. Happy to eat humble pie if we were wrong but there are implications which Ken never answered, even if it was economical.

Great! So we end up with a %§&*'# perfectionist that want a really perfect chip and board without the mental ability to make compromises. Not even when the more perfect solution only means way less profit. Really great. The more stupid is that ken already had a working prototype that he tested.
How can it be more important to get 20% more hashrate when you crash the project in the meanwhile. I mean he has to look away from the difficulty for doing that. Doesnt he realize that the diff is rising? The 20% are shit when the profits overall are dropping 50% each month. Even when Intellihash only would have taken two more week development time it wouldnt have been worth it. But he now threw away months already. Really stupid thinking ken. And all shareholders loss. Including Ken.
Of course thats only valid when Intellihash is the problem of all. But i dont see another reason because there was already a running prototype.
*sigh*

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
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January 09, 2014, 08:52:48 PM
 #7209

ken's intellihash reminds me of ukyo's special portal lol
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January 09, 2014, 08:53:22 PM
 #7210

Have removed the paragraph appealing to others better judgement in the hope this post is not deleted as well.



So here's what I'm thinking.  Ken has two solutions to the shares issue with coloured coins number one and CT a fallback option.  He will continue to stall the CT option in favour of a permanent decentralised solution.  That is excellent and is telling of Ken's long term aspirations to make this company a success.  The day he gives off signals to the contrary is when all hope is lost, until then we are still in the game.

Regarding the technical side of things of which I am almost clueless, I recall that BFL also changed their engineers for similar reasons that Ken has given.  They seem to have got over that hurdle which didn't sink them.  Now perhaps we are assuming that changing engineers means we have to go back to square one but surely the second firm might be able to build on work already done?  Also we don't know how long the second firm have been on board (no pun intended  Grin) and how close they may be to completion.  Add all that to the quote below and I'd say once we negotiate with Ken to release more details there's every chance we look back on this episode and realise 'mass hysteria' sucked a lot of us in.  Now before you flame me, I am only sharing my opinion and have a very positive outlook on life.  My cup is always over half full and if you lose hope then you throw away any remaining chance of success.  This is from the most legitimate person in this thread due to his inside knowledge who is willing to post.

All in all, ActiveMining could still do really well if it could get mining in bulk ASAP. That's why I think Ken should be a lot more up front about what's going on. I simply don't understand how this situation has arisen. Having eASIC on board was a real coup for which Ken deserves a lot of credit, but it's no good if there is no end result.
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January 09, 2014, 08:53:30 PM
 #7211

ken's intellihash reminds me of ukyo's special portal lol

It is not nice to bring math to this fantasy fest.  It is far more fun to dream that "Ken" will dream up a brilliant plan and everyone will get rich.   "Ken", a man with over 6 million dollars in pre-order money plus all the millions in investor funds that could not hire people over the last months to make an eASIC chip and get it on a board (a process with a total NRE of around $1.5M including board design)Huh
"Ken".   Has anyone thoroughly researched who Ken is and where the money is?


Well, yeah...  But magical thinking is the backbone of Active Mining

http://i.imgur.com/sJcc6wo.jpg
Stuartuk
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January 09, 2014, 08:55:16 PM
 #7212

I haven't seen any posts from StuartUK.

Therefore, you are most likely StuartUK.





mmm

I haven't been posting because I've been on the Continent having a holiday. What are you so obsessed with me dude? Can't you just leave me alone?

I also had my PC hacked by VE. I mentioned this before. I've not wanted to log-in since then for obvious reasons. My connection to this site keep dropping and other odd things have happened. VE hounded me off the board basically. I don't know if I'll stay, VE could hack me again. It's a bit shit. Oh and I haven't registered as any other name - Mods can verify that.
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January 09, 2014, 08:59:22 PM
 #7213

There is some serious censorship going on in here.

Thanks, whoever was deleting my posts, I now get it.

Who?
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January 09, 2014, 09:02:03 PM
 #7214

We'll that's fine by me. It's Kens thread. Funny how you (Crumbs) don't get deleted isn't it.
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January 09, 2014, 09:03:31 PM
 #7215

Have removed the paragraph appealing to others better judgement in the hope this post is not deleted as well.



So here's what I'm thinking.  Ken has two solutions to the shares issue with coloured coins number one and CT a fallback option.  He will continue to stall the CT option in favour of a permanent decentralised solution.  That is excellent and is telling of Ken's long term aspirations to make this company a success.  The day he gives off signals to the contrary is when all hope is lost, until then we are still in the game.

Regarding the technical side of things of which I am almost clueless, I recall that BFL also changed their engineers for similar reasons that Ken has given.  They seem to have got over that hurdle which didn't sink them.  Now perhaps we are assuming that changing engineers means we have to go back to square one but surely the second firm might be able to build on work already done?  Also we don't know how long the second firm have been on board (no pun intended  Grin) and how close they may be to completion.  Add all that to the quote below and I'd say once we negotiate with Ken to release more details there's every chance we look back on this episode and realise 'mass hysteria' sucked a lot of us in.  Now before you flame me, I am only sharing my opinion and have a very positive outlook on life.  My cup is always over half full and if you lose hope then you throw away any remaining chance of success.  This is from the most legitimate person in this thread due to his inside knowledge who is willing to post.



are you ken?
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January 09, 2014, 09:06:03 PM
 #7216

OK while I'm on here and VE isn't about I'll state my view on the latest.

1) It's not ideal.

2) Worse things happen at Sea.

3) Bunch of freaks on here. Never changes. What did you Trolls do with your lives before ACtM came along? Did you bully, humiliate and try to destroy other hard working businessmen? I dread to think what harm you've done in the world. Nothing but pieces of dirt.

4) Anyone want to buy any shares?
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January 09, 2014, 09:07:35 PM
 #7217

Hold on I thought minerpart was Ken, and zumzero was me, and I am minerpart, and so fannybaws must be Spartacus?
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January 09, 2014, 09:11:09 PM
 #7218

4) Anyone want to buy any shares?
Eh, you won't get 0.04BTC/share...

No you are right. I'd be happy to take 0.0000004BTC for my entire holding. You interested?




WELCOME to ACtM 2014!
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January 09, 2014, 09:15:54 PM
 #7219

4) Anyone want to buy any shares?
Eh, you won't get 0.04BTC/share...

I'll offer one DOGE or Mooncoin per share.

Will Dance For Satoshis - 1F1q93wAqgH8WFghRKpnBW8HxShuzkRrqc
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January 09, 2014, 09:19:09 PM
 #7220

THUMPERCRUMBS:


Yeah dude! I wanna buy a Hashfast machine. And I reckon by the time I get one it's ROI will be about 0.0000005BTC. So it will be a good investment.
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