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Author Topic: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated]  (Read 770358 times)
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VinceSamios
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January 10, 2014, 06:00:15 PM
 #7321

BTW - Anybody who invested in this and didn't have a reasonable expectation that there was a 50% chance they would lose their money is... a... dumb fuck. I tried to be more civil on that, but... it's the most accurate phraseology I could come up with.

So lets say we all lose all our money - you are equally as much to blame as Ken. Think about it people, greed begets pain.

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Bargraphics
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January 10, 2014, 06:00:46 PM
 #7322

<Bargraphics> there's no class action on this type of case
<Vigilante> BG, are you not a shareholder?
<Bargraphics> Yes I'm a shareholder of an unregulated company in belize
<uhm> well as you see i dont have any experience in these type of stuff but i'm willing to donate to get this started
<Bargraphics> the only people that have experience in this will not start it
<Bargraphics> I promise you
<Vigilante> OK, why is that?
<Bargraphics> you have to literally understand you are putting good money after bad
<Bargraphics> to want to do this

Bargraphics is completely right - let's discuss the potential outcomes.

1. you run out of money before you get a verdict, then have to cover the other sides costs (most likely)
2. you lose, and have to cover both sides costs (very likely)
3. you win, but all the winnings only cover legal expenses and put your investment out of business. (least likely)
4. you sit back, and see what happens, and you might get rich, or your shares might be worth nothing.

Options 1,2, & 3 look great. Good thinking team. /sarcasm

If people only filed rape reports when it was financially advantageous for them, rapists would be free to continue with their rapings.
You have been raped, punked, what have you.
I applaud you for "sitting back and seeing what happens."
*There are people who actually believe in things like justice, and don't enjoy surprise butsecs of the Slaughter variety.

Thankfully this is the difference between criminal and civil - although Bargraphics rightly points out that if things don't get sorted then there may be a criminal case to answer for, but trying to get that ball rolling would end us all up with nothing, whereas I'm still confident ActM will eventually come up with something. We aren't particularly overdue and we don't know the extent of the problems.

Business != Rape

Risk != Rape

Profit != Risk Free

Please stop responding to crumbs if at all possible.
fannybaws
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January 10, 2014, 06:03:17 PM
 #7323

...The way I (mis) understood the recent announcement was that the RTL thingy applied to the boards themselves and not the chips.  Could it be that the chips are all fine and ready to go but the boards are being redesigned?...

Lol no. RTL has nothing to do with boards.

Why are you laughing at someone because you have knowledge they don't.  Is that why you turned out like this?  Your teachers couldn't stop laughing at you was it? Fucking twat.
drawingthesun
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January 10, 2014, 06:04:35 PM
 #7324

BTW - Anybody who invested in this and didn't have a reasonable expectation that there was a 50% chance they would lose their money is... a... dumb fuck. I tried to be more civil on that, but... it's the most accurate phraseology I could come up with.

So lets say we all lose all our money - you are equally as much to blame as Ken. Think about it people, greed begets pain.

Thanks mate, I invested with the expectation of about 25% returns. I never really thought myself greedy.

Ken might have had hard issues and he may have had to do certain things, and if he was open and transparent about this I would not be so annoyed at the situation.

We have no idea what happened and what is going on.
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January 10, 2014, 06:05:17 PM
 #7325

freenode irc?  what channel?


Freenode #ActiveMining

Any chance the reCAPTCHA can be made accessible for humans? What a joke!

lol you can click on the audio button!

Lol, Tried that and thought I was on mushrooms for a second.
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January 10, 2014, 06:10:52 PM
 #7326


Thanks mate, I invested with the expectation of about 25% returns. I never really thought myself greedy.


LOL then you didn't really think about your risk/reward

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January 10, 2014, 06:12:41 PM
 #7327

BTW - Anybody who invested in this and didn't have a reasonable expectation that there was a 50% chance they would lose their money is... a... dumb fuck. I tried to be more civil on that, but... it's the most accurate phraseology I could come up with.

So lets say we all lose all our money - you are equally as much to blame as Ken. Think about it people, greed begets pain.

I don't think anybody expected to lose ALL their money after the easic announcement. We thought we would get atleast a few dividends from WORKING hardware. At this point we have nothing atall - some dust. How can that be possible when everything was in place to have a decent stab at this. COMPLETE AND UTTER INCOMPETENCE.
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January 10, 2014, 06:13:28 PM
 #7328

@ crumbs

Oh shut up man!  If we all knew how our cars worked there would be no mechanics in the world.  Look back at all of my quotes and show me ONE where I have claimed to have a technical understanding of asic production.  After you've done that, explain to me why having a technical knowledge in a subject is a prerequisite for becoming a shareholder.  Get over yourself crumbs you arrogant individual.
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January 10, 2014, 06:20:35 PM
 #7329

BTW - Anybody who invested in this and didn't have a reasonable expectation that there was a 50% chance they would lose their money is... a... dumb fuck. I tried to be more civil on that, but... it's the most accurate phraseology I could come up with.

So lets say we all lose all our money - you are equally as much to blame as Ken. Think about it people, greed begets pain.

Why 50%? I don't understand, that seems quite arbitrary. With eASIC publishing a confirmatory news release I don't think 50% chance of total loss at that time would be a sensible assumption.

And in terms of apportioning 'blame' - I don't think investors are ever to blame for the actions of CEO's. Investors take risks with their own capital, in return for that risk they are usually rewarded. The reward does not always materialise as many small businesses fail. Investors are not to 'blame' for that - it's a fact of life. Now if someone has over-invested yes you can criticise them for that.
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January 10, 2014, 06:23:58 PM
 #7330

Obviously he didn't have a full business plan put together yet and figured he could only get away with 45nm with an IPO on here. So once he struck a deal with eASIC 28nm he then put that plan into action instead of a 45nm. Also based on his post he was going to do a 45nm Standard-Cell not FPGA Copy. It would cost just about the same as the 28nm eASIC (Probably more if he was planning on doing a flip-chip as that packing is not cheap.

To answer the Bold, the answer is NO, porting anything over is the very first step once you contact a backend design company. Then you get to wait around 12 weeks for them to finish that, 8 weeks for the mask, 8 weeks for the wafers.

Ahh some of this sounds familiar. Thanks Bargraphics, so the choice was made to go with 28nm after this news release. Check.
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January 10, 2014, 06:39:41 PM
 #7331

so where is eASIC in all this? Are they not proven and reputable?

How could they have fucked up and not delivered based on some kind of phantom, unbeknown timeline?

or was it all Ken in the fucking up?

Still not sure why they (eASIC) are so high and mighty that they can't be called into account? I don't get why we are on eggshells with them.

They were paid a lot of money. They are, after all, the vendor… are they not?
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January 10, 2014, 06:50:08 PM
 #7332

Well what can you do? Fire them off an email? They pass it on to Ken.

The chips are delayed.
The boards are delayed.

We need to deal with those facts - like grown ups. It's a waiting game now. Personally I do not expect to lose all my money in this. At the very worst I still see the 0.0025 paid back. It might take 10+ months but it will happen. At the best I see us taking 5% of global hash and holding it. Anyone willing to go there or are you all depressed and moribund?

Cheer up you old buggers.
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January 10, 2014, 06:58:15 PM
 #7333

so where is eASIC in all this? Are they not proven and reputable?

How could they have fucked up and not delivered based on some kind of phantom, unbeknown timeline?

or was it all Ken in the fucking up?

Still not sure why they (eASIC) are so high and mighty that they can't be called into account? I don't get why we are on eggshells with them.

They were paid a lot of money. They are, after all, the vendor… are they not?


my guesstimate would be, eASIC saw ken and his poor RTL code as easy money. They took the money and gave him the useless chips based on his RTL code and then laughing all the way to the bank.  After all eASIC based the chips on ken's code so can't blame eASIC for the failure

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January 10, 2014, 07:03:02 PM
 #7334

Maybe, but eASIC are very successful, they have Global customers, big names.

So I don't think they would risk their very solid reputation for 800k USD (est. max) profit and associate themselves with a sure-to-fail company which is so much tied to the success of a chip they supplied. eASIC have too much to lose for that. They would want ACtM to succeed I believe.

And Ken estimates 40Mill of chip sales in 2014 - that is good business for eASIC. If we do well they do well.
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January 10, 2014, 07:18:19 PM
 #7335

eASIC simply risk becoming associated with a failed company. One that has (this is speculative)  that has lost investors Millions, has the CEO arrested by the SEC and has an eASIC chip that doesn't work, for whatever reason.

Firms like this are very careful about who they supply and partner with. The eASIC press release says we have worked together to make the 24TH/s rig. So it's a partnership in all but name and for that reason eASIC could come out of this very badly if we fail big-time. I think they will be actively involved in trying to make this work out for everyone.
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January 10, 2014, 07:43:50 PM
 #7336

My synopsis:

1) Investors and trolls freak out over news of delays (me included).
2) Technically ACTM is only delayed by about 2 months max (maybe less depending on the sample chips).  Not good news, but not "sky is falling" news.
3) This is definitely a delay and NOT a scam (make your own decision, but I know this for sure)
4) Boards are being redesigned, unclear of status of chips
5) Trading shares not a priority especially with regulation/laws looming that could fuck up the whole endeavor
6) Knowledge is power...there are many competitors and other snakes with sharp teeth...
7) Sit back and wait for Colored Coins.  I am 100% in and long on ACTM, but make your own decision...this should make for an exciting year!  2014 FTW


Taken from http://s3v3r3dh3ads.blogspot.com
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January 10, 2014, 07:45:23 PM
 #7337


I think they [eASIC] will be actively involved in trying to make this work out for everyone.

Well it sure would be nice to know eASIC's fancy overhyped and "under NDA" opinion about this whole thing.

Are they laughing at Ken? Are they attempting to make "the fastest hashing bitcoin miner?" All this is a total fucking X-files mystery and the answer is out there.
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January 10, 2014, 07:50:38 PM
Last edit: January 10, 2014, 08:11:22 PM by knybe
 #7338

My synopsis:

1) Investors and trolls freak out over news of delays (me included).
2) Technically ACTM is only delayed by about 2 months max (maybe less depending on the sample chips).  Not good news, but not "sky is falling" news.
3) This is definitely a delay and NOT a scam (make your own decision, but I know this for sure)
4) Boards are being redesigned, unclear of status of chips
5) Trading shares not a priority especially with regulation/laws looming that could fuck up the whole endeavor
6) Knowledge is power...there are many competitors and other snakes with sharp teeth...
7) Sit back and wait for Colored Coins.  I am 100% in and long on ACTM, but make your own decision...this should make for an exciting year!  2014 FTW


Interesting read regarding CC et al:

Bitcoin 2.0 Explained: Colored Coins Vs Mastercoin Vs Open Transactions Vs Protoshares
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January 10, 2014, 08:20:38 PM
 #7339

Lol crumbs, you just posted information which the the best news we have heard in ages.  This was going to be sat on because it is obvious that you trolls would just have something else to attack, so why feed you?

So go ahead folks, now the cat is out the bag, read it in context.  This is very bullish news indeed!  Smiley

Here, I will help....


IRC chat in the last few minutes...

[19:28] <abillionhorses> Just that there is a meeting this weekend with the board designers and another with eASIC.  Forum coming for investors, SEC fears stop ACTM from developing trade portal (they dont want to fuck their company or investors)...sounds to me like we will be waiting for CC or similar (good).  BTCtalk posts have been thin due to eASIC NDA and Ken's policies...this is due to competition and annoying
[19:28] <abillionhorses> immature teenager like attitudes being dealt with on the forums in the past (decided they didn't want to deal with that--i dont blame em).  Hearing how gerald spoke, his tone of voice and the professional intro recordings at VMC plus this info is enough to me that this is definitely not a scam (I wasn't perfectly sure before) and that we are just facing delays.  After looking at ken's
[19:28] <abillionhorses> original timeline we are not delayed as much as some trolls would make you believe...2 months MAX--fine with that.  I'm gonna take a chillpill and step back and watch
[19:29] <shaofis1> Would be nice if Ken would give some indication how far behind schedule he might be... if anything to help preserve pre-orders... those who have ordered are reading this and coming to the same conclusions we all are.
[19:30] <fannybaws> haw, minerpart.  YouTube Limmy: Requiem. Lasts 3:38
[19:30] <minerpart> I never doubted this project. We will all at the very worst get our BTC back. Yes BTC. Have a good weekend guys. This aint over yet.
[19:31] <abillionhorses> ehh yeah...he will let us know at some point IMO but he also reserves the right to tell us when he wants to tell us (for sake of the company--competition etc).  I wouldnt let my competitor know my timeline either...so eh it depends how you look at it.  I dont see it as nefarious
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January 10, 2014, 08:30:59 PM
 #7340

So, VE, how is your inquiry at eASIC going? Could we get an update or are you pulling a Ken on us?
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