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

[WildFire.ca]

Disclosing material non-public information to your advisory board is a violation of SEC reg?

[minerpart]

Never do business with someone who deceives you using semantic games.  And never trust anyone who would defend such behavior.

Buy One get One Free.

New improved recipe.

Can help lower cholesterol (as part of a calorie controlled diet).

Because You’re Worth It

The future’s bright. The future’s Orange

[ffssixtynine]

Disclosing material non-public information to your advisory board is a violation of SEC reg?

None of this is properly covered by the SEC. Picking over specifics isn't really helpful.

My due diligence resulted in words like grey area, cluster fuck, no one knows... And the result was in the immediate future the real concerns are fraud through misrepresentation of information, misuse of investor funds, but primarily investors not getting their investment back. US investors that is.

[minerpart]

So WTF are you on about then. There has been no fraud, no misrepresentation of information. There has only been PR in this instance.

I did not for one minute believe that shipped product meant mining machines or rigs. If you or anyone else did that is your right. It doesn't make Ken a criminal, it just means you misunderstood the implications of VMC having shipped 'product'.

If I think 'New Improved Recipe' means the product's recipe has been improved to be more healthy for me then that's my assumption, but it would be wrong, as it's usually been 'improved' for more flavour. Just because a statement is vague doesn't mean you can apply your own strict interpretation to it and have that upheld in a court of law. That is just not how the world works.  

[WildFire.ca]

Disclosing material non-public information to your advisory board is a violation of SEC reg?

None of this is properly covered by the SEC. Picking over specifics isn't really helpful.

My due diligence resulted in words like grey area, cluster fuck, no one knows... And the result was in the immediate future the real concerns are fraud through misrepresentation of information, misuse of investor funds, but primarily investors not getting their investment back. US investors that is.

I would agree with most of that. The use of the word fraud, misuse is a bit strong. If this were fraud Ken would be in Mexico by now and we all be talking about how we wished we were scammed by labcoin. If Ken is smart he's going to take the time that has been spent doing {put your own info here} and realize the potential of the hashrate's ability to go up. If he was to print chips when we thought the hashrate would max out at 50% a mo we would be getting killed. We will print chips, we will make boards for those chips. What we do with them and when they come out is the only question at this point.  

[zumzero]

Never do business with someone who deceives you using semantic games.  And never trust anyone who would defend such behavior.

Buy One get One Free.

New improved recipe.

Can help lower cholesterol (as part of a calorie controlled diet).

Because You’re Worth It

The future’s bright. The future’s Orange

8 out of 10 cats, whose owners preferred it, said their cats also preferred it.

LOL.

[SebastianJu]

So WTF are you on about then. There has been no fraud, no misrepresentation of information. There has only been PR in this instance.

I did not for one minute believe that shipped product meant mining machines or rigs. If you or anyone else did that is your right. It doesn't make Ken a criminal, it just means you misunderstood the implications of VMC having shipped 'product'.

I was a shareholder at that time and of course i thought he shipped the first miners. Everyone thought so because the time was matching the anticipations of the start of shipping. I cant see what "product" of VMC could be shipped to be worth to announce it like "the products" started to ship. I dont think its illegal but at least its not correct and misleading for the purpose of holding VMC up.

[hobbymd]

just got only three words to say....   Amazing company NDA all the way to the moon.

On a serious note this is pathetic, ken has created a cluster fuck here, can't believe what he says any more.  Anybody else wonders what else ken has  fed us so far that might turn out to be as the " shipped product" ?!  can't wait for next smoke blowing session this Wednesday 

[toastee]

Hi kslaughter, I buy 256Gh/s x 5, before decemebr and that is will in 31.12.2013, so already 21 days and I did not receive yet, what??? and I also send email several times and no answer, so what is?? I dont like waiting from your, so please let me as soon as possible, thanks

[CanadianGuy]

Hi kslaughter, I buy 256Gh/s x 5, before decemebr and that is will in 31.12.2013, so already 21 days and I did not receive yet, what??? and I also send email several times and no answer, so what is?? I dont like waiting from your, so please let me as soon as possible, thanks

Did you receive your empty case?     Apparently those were the products he shipped.  Can you take pics of the case so we can see if it might work?   

[VinceSamios]

I think Ken's mistake was choosing board members from a forum full of loonies (not saying any of the board members were loonies, just it's impossible to tell.)

I sit on a few boards and we universally meet in person - you cannot have the level of discussion a board requires via email/chat/etc

[VinceSamios]

Q. What went wrong with the RTL?
A. I didn't get a direct answer with this other than delays were made to make better decisions about what direction the company would take due to competition and bitcoin price.

The difficulty rise was too rapid and manufacturers started offering very efficient 28nm products at $3/GH - Ken realised Nextreme chips were too expensive to manufacture and too inefficient on power. The right decision was to switch to Easicopy, and this is the decision I believe Ken made. I've been saying it for a while now, quote me on it later.

If this is the case, people should be extremely impressed with the companies ability to "turn it up", and ken's guts to take this step despite the fallout we're seeing on the forums.

[Bitdust]

...
If this is the case, people should be extremely impressed with the companies ability to "turn it up", and ken's guts to take this step despite the fallout we're seeing on the forums.

I, for one, am quite impressed.
Amazing Company!

[Bitdust]

Mr Hashfast-

just as you seem a bit slow to catch on/paranoid - I'm not the one after you. I'm talking about the lawyers and specifically the Judge who you should be meeting sooner rather than later. I wonder what evidence they will take into account. mmm Just keep keeping your customers happy. lol

But don't get paranoid dude, try to stay calm, I'm not interested in a pathetic little runt like you. I honestly wouldn't waste my time threatening a short-arsed, low-life, coke head - with a drug-related squint. No the big boys on the wing will do all the sorting out I could ever hope for. Enjoy.  

Ha ha ha!  HashFast has hax0red Ken's Intellihash and is mining with your intelectual property.  Making crazy coin.  Why do you think Ken's not hashing yet, huh?  Thaaaat's right.
I'm on a nuclear sub in international waters, doing hookers and blow I bought with your money.  The future looks bright, chump.  I ain't worried.

@minerpart:  I have intercepted and logged VLF transmissions likely originating on the Eduardo/"Mr.Hashfast"/Thumper650 nuclear sub.
Though the analog hypertrunking encoding is proving difficult to decrypt, recursive application of high Q bandpass filters reveals what is described by our cryptotechnical team as "totally hookers and blow."  The team rated derived clearsound with Scientific Certainty Coefficient of over 9000.

Intelligent guys like us should join forces.  If you choose to accept this proposal, kindly encrypt your reply with PGP666 and burn both keys at midnight.

[Matt_S]

How is it that certain people are privy to detrimental information about the company, yet the majority of investors aren't?
Just the fact we arent able to trade at the moment SOMEWHAT makes it not as bad.

[Stuartuk]

How is it that certain people are privy to detrimental information about the company, yet the majority of investors aren't?
Just the fact we arent able to trade at the moment SOMEWHAT makes it not as bad.

No one had any detrimental info. The advisory board thought Ken wasn't listening to them and that their choices about products to develop were better than his, so they resigned. They also thought he should hire more staff.

Oh yes and they all fancied jumping onto NeoBee instead of ACtM.

[Bitdust]

How is it that certain people are privy to detrimental information about the company, yet the majority of investors aren't?
Just the fact we arent able to trade at the moment SOMEWHAT makes it not as bad.

No one had any detrimental info. The advisory board thought Ken wasn't listening to them and that their choices about products to develop were better than his, so they resigned. They also thought he should hire more staff.

Sure, from the horse's own mouth:

...
I see that you did not say what your timing was when you sold your shares.  Mostly likely you sold because of being on the board and having inside information.  

[Puppet]

Q. What went wrong with the RTL?
A. I didn't get a direct answer with this other than delays were made to make better decisions about what direction the company would take due to competition and bitcoin price.

The difficulty rise was too rapid and manufacturers started offering very efficient 28nm products at $3/GH - Ken realised Nextreme chips were too expensive to manufacture and too inefficient on power. The right decision was to switch to Easicopy, and this is the decision I believe Ken made. I've been saying it for a while now, quote me on it later.

If this is the case, people should be extremely impressed with the companies ability to "turn it up", and ken's guts to take this step despite the fallout we're seeing on the forums.

You are overlooking one crucial element : timing. Easycopy as I understand is a full mask set process, like any other asic. Tape out process would be pretty much identical too, and therefore if the RTL is only finished just now, and even assuming eASIC has some magic software to synthesize an RTL in to a GDSII by pressing a button, it will be months before that results in actual chips.

OTOH, nextreme should in theory allow at least samples in a very short amount of time (especially ebeam samples, but even single mask wafers ought to be lot faster). So even if those chips are less power efficient and (far) more expensive, I doubt it wouldnt be worth it. We are no where near the point yet where asic production cost is an issue. I do agree that Easycopy should be developed in parallel for when that happens, but I see no reason to halt nextreme chips unless for whatever reasons, these cant be manufactured within a short order either. Which would point to eASIC nextreme 3 not being ready.  

[Stuartuk]

Do you know what 'detrimental' means?

The guy has done an interview with ACtM as he has a project about Mining Hardware and he is interviewing all the big companies. The info he has is for publication in the future but he is not allowed to publish it right now. With no shares being sold as you say there is no opportunity for insider trading from this guy.

It's a good idea for Ken to think about future exposure for the company through this project. When people decide who to buy miners from they will check this guys work and we will be looking good with the details he will list.

[minerpart]

Sure, from the horse's own mouth:

...
I see that you did not say what your timing was when you sold your shares.  Mostly likely you sold because of being on the board and having inside information.  

We went over this yesterday. That is simply a counter-accusation from Ken to put FF69 on the spot. By their own admission and Kens, the Board had no sensitive 'inside info'. Ken is just making the point that all people within the company do not need to be hauled before a judge to face charges of insider trading. He is turning the tables on FF69's accusation.