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

[knybe]

can't say a fucken thing in here without some whinny bitch trolling it.

[1715673937]

1715673937

[1715673937]

1715673937

[zumzero]

...
The long term shareholders don't care about the short term share price.  This has been stated over and over. They are in it for the divs and long term share value.

Best of luck to you with your own investments, I genuinely hope you make lot's of coin from them.  

Critical posts are welcome but do try to be as constructive as you can so that we can all benefit from you contributions.

Not sure i understand how this long-term investing stuff works.  See if i got it right:

Naive long-term investors such as myself misconstrue plummeting share prices as "a bad thing."  Operating under mistaken assumption that buying shares at a lower price is somehow better than buying the same shares at a higher price, they fail to lose money (which, as you know, is the real goal of long-term investors).

Given a chance to enter a position, shrewd investors wait for the price to rise to its apex, buy, and watch with satisfaction as the price tanks.  By skilfully timing the process to exit at the lowest & enter at the highest price points, a savvy investor manages to lose substantially more coin than the bitdust received in dividends -- a goal each ActM investor aspires to.

That about right?

Not interested in playing that game.  Just like the top 15 whales, I'm simply watching and waiting and have plenty of patience.  I'll be here longer than you crumble and WILL have the last laugh.  Anyway, it's nice to see you drop the childish patter.  Seems like Ken constantly deleting your posts finally forced you to abide by the rules.   

[Nootnewbie]

Some back-of-the-napkin calculations show that Actm needs about $3.5M in profits in order to pay back 0.0025 BTC/Share to the first 10M shares.

Are there any estimates based on other operations such as AsicMiner as to how long this may take when taking into account Sales/Mining?

[SebastianJu]

Some back-of-the-napkin calculations show that Actm needs about $3.5M in profits in order to pay back 0.0025 BTC/Share to the first 10M shares.

Are there any estimates based on other operations such as AsicMiner as to how long this may take when taking into account Sales/Mining?

Asicminer is not near to Activemining to be able to compare. Asicminer was nearly alone in a time of way lower difficulty. Activemining will have a harder stand here.

[Nootnewbie]

Some back-of-the-napkin calculations show that Actm needs about $3.5M in profits in order to pay back 0.0025 BTC/Share to the first 10M shares.

Are there any estimates based on other operations such as AsicMiner as to how long this may take when taking into account Sales/Mining?

Asicminer is not near to Activemining to be able to compare. Asicminer was nearly alone in a time of way lower difficulty. Activemining will have a harder stand here.

That's true; I was wondering about calculations such as if Actm controlled X% of total hashing, its daily BTC would be Y BTC, or something to that extent.

EDIT:  With at least realistic/expected numbers

[navitatl]

Haha, crumbs and iceman are back in full force! I'm back to munching on my popcorn and hanging onto my shares (along with the considerable amount of IceDrill and AsicMiner I've accumulated to hedge my bets). I'm glad there's people out there enjoying this as much as I am.

[SebastianJu]

Some back-of-the-napkin calculations show that Actm needs about $3.5M in profits in order to pay back 0.0025 BTC/Share to the first 10M shares.

Are there any estimates based on other operations such as AsicMiner as to how long this may take when taking into account Sales/Mining?

Asicminer is not near to Activemining to be able to compare. Asicminer was nearly alone in a time of way lower difficulty. Activemining will have a harder stand here.

That's true; I was wondering about calculations such as if Actm controlled X% of total hashing, its daily BTC would be Y BTC, or something to that extent.

EDIT:  With at least realistic/expected numbers

Realistic is a bit complicated. 7200BTC per day. I dont have a clue what percentage ActM could get since there is much competition. Lets say 1%. Thats 72BTC per day. $140 per BTC means $3.5M are 25000BTC. Means 347 days to reach by mining. They already sold for over 1M and probably at least half of it is profit so the time will be less. Maybe ActM even is able to hold more than 1% of network hashrate. 1% is 17TH at the moment. And that amount is rising 20-30% each 2 weeks. So keeping a certain percentage is hard. Even Asicminer has to struggle. Though thats all very speculative.

[Bargraphics]

Without knowing the die size of ActM's chips it will be hard to know just how many chips per Wafer.

We have no idea how many wafers were ordered.

This all being said, ActM only need ~65,000 chips to mine at a Petahash if their chips are 16GH/s

That honestly isn't that much considering ASICMiner must be using at least 100,000 of their chips to mine with and they consume much more power than these will.

If ActM does have a working chip at 16GH/s then I suspect we will be fine. Since eASIC is doing the work to make sure this chips is working I have little doubt that the chip won't be working.

The high estimates I've heard from some of the larger players in the mining game is 30PH come the end of February. That would still be a little over 3% of the network even then not to mention all the sales that they will have advertising an actual working product.

[minerpart]

Lets say 5% of total Hash and BTC at $250 which I think is more reasonable for around Jan 2014.

360x250=90,000USD per day

Lets say only 50k is pure profit (electric costs etc)
So it would be 20days to make 1Mil USD from mining
Website should also be making approx 1Mill USD every 30 days.
So in that case around 40days to make 3.5Mill USD.

Ofcourse BTC could be higher in Jan and % of total Hashing could be lower or visa versa - and Utility costs could be lower.

[deizel]

From the previous thread:

The network will mine BTC1,314,000/year (1 block solved every 10 minutes with a reward of BTC25) until the reward halves in 2016 (also a leap year).

To make annual return with dividends alone, the public investor's protection plan should succeed within one year (see page 1):

= 10,000,000 shares × BTC0.0025/share = BTC25,000 in dividends

From a yearly perspective, meeting just one of these goals would achieve this:

- average 1.9% of the network for a year (by mining BTC25,000 out of the available BTC1,314,000)
- average $250,000/month in hardware sales profit (BTC25,000 × $120 ∕ 12 months)

ActM has incentive to quickly meet a combined version of the above goals if they are to share in profits.

[crumbs]

... Maybe ActM even is able to hold more than 1% of network hashrate. 1% is 17TH at the moment. And that amount is rising 20-30% each 2 weeks. So keeping a certain percentage is hard. Even Asicminer has to struggle. Though thats all very speculative.

1% is about 24, not 17TH/sec.  The difficulty is also climbing quite a bit faster than 20-30%, so double that.  And ActM certainly won't be mining at today's difficulty -- the difficulty is not waiting for Ken to start hashing, it keeps rising regardless.
The little errors make your calculations as optimistic as the notion that plummeting share price is irrelevant.

[Nootnewbie]

Is there an expected date/milestone as to when the NDA will be lifted?

[deizel]

Is there an expected date/milestone as to when the NDA will be lifted?

Basically, we don't get to hear anything about eASIC's process due to NDA:

eASIC's Nexteme-3 is not released, so we are still under NDA.  Only thing we can say about it, is what is in the Press Release.

Has eASIC given a time frame for when this NDA will be put to rest?

It never will be; however, when they release their products on their website, then we can talk about them.

However, we should get to hear about the VMC's chips/products when they arrive.


_{In short, "it's not ready yet".. http://www.youtube.com/watch?v=w-x8nh949JQ}

[4ju5tice]

Has anyone seen the website recently? Maybe this was already known, but it got updated and looks much better now and you can actually see that you can pay with BTC. Golly wolly.

http://www.virtualminingcorp.com/

EDIT: Well, at least the homepage got updated. Anyways looks pretty good, hope the rest will look as slick soon.

[LorenzoMoney]

Yup! It says shipping starts in November 2013.

http://virtualminingcorp.com/shop1/index.php?id_product=23&controller=product#/fh_exp_case_16_pcie_slots-6_expansions_cases/fh_256ghs_expansion_a-24_576_th_s_19_200_watts/fh_256ghs_module_a-1_536th_1_400_watts

Personally, I find the site confusing. I am not sure which case and which option goes together.

Even though BFL has and had all sorts of delivery problems, their website was clear and simple and comprehensible.

As long as people with money understand the site and preorder or buy, that is all that is important to me. I would walk away from the site, though, even with it current design.

Has anyone seen the website recently? Maybe this was already known, but it got updated and looks much better now and you can actually see that you can pay with BTC. Golly wolly.

http://www.virtualminingcorp.com/

EDIT: Well, at least the homepage got updated. Anyways looks pretty good, hope the rest will look as slick soon.

[KCK402]

So what about the US share holders? Are we still just waiting for what we should do?

[knybe]

So what about the US share holders? Are we still just waiting for what we should do?

Short Term Solution/Long Term Solution

[thefunkybits]

So there will be an escrow system, but will there be an easy way to receive and place bids besides on bitcointalk?



Maybe a third party website designed by someone not related to Activemining Corp. could be developed (I dont know code but just a suggestion)

[4ju5tice]

Personally, I find the site confusing. I am not sure which case and which option goes together.

Even though BFL has and had all sorts of delivery problems, their website was clear and simple and comprehensible.

As long as people with money understand the site and preorder or buy, that is all that is important to me. I would walk away from the site, though, even with it current design.

Yeah, I find it a little confusing too for the same reason. I figured that people that do a lot of mining would know what to buy. It's not exactly the most friendly to new miners, but then again, neither is the current mining environment.

[bobdude17]

Finally a little bit of press for ActM :

http://www.bloomberg.com/news/2013-10-15/bitcoin-mining-rush-means-real-cash-for-hardware-makers.html