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

[Sou]

what about this?

someone already created ActiveMining_Test. It's still Beta and runs testnet, but looks promising.

+1

[knybe]

what about this?

someone already created ActiveMining_Test. It's still Beta and runs testnet, but looks promising.

That's BitcoinX's colored coin wallet implementation and I would venture to guess that Ken created the ActiveMining_Test...

Things are looking interesting.

[Sou]

what about this?

someone already created ActiveMining_Test. It's still Beta and runs testnet, but looks promising.

That's BitcoinX's colored coin wallet implementation and I would venture to guess that Ken created the ActiveMining_Test...

Things are looking interesting.

Could be a troll, but i definitely love the idea of Activemining being on there. Also a Asicminer name listed as well.

[bitwhizz]

so how do you convert an activemining share into a colored coin active mining share? how does this work? and thanks for the link!

[SoylentCreek]

what about this?

someone already created ActiveMining_Test. It's still Beta and runs testnet, but looks promising.

That's BitcoinX's colored coin wallet implementation and I would venture to guess that Ken created the ActiveMining_Test...

Things are looking interesting.

Could be a troll, but i definitely love the idea of Activemining being on there. Also a Asicminer name listed as well.

The question I have is who is hosting the bitcoinx site, and where is it hosted?  I think that P2P is a little more full proof.  Still, I hope that this is a clear sign that Ken & Co. are looking at Color Coin implementation, and understand that it is the most logical step forward (even though it's not quite ready yet).

[SoylentCreek]

so how do you convert an activemining share into a colored coin active mining share? how does this work? and thanks for the link!

That actually would not be too difficult. The easiest way would be to convert everyone's (US users and anyone else who wants to use CC instead of Bitfunder or whatever else) shares into Direct Shares.  Assuming there are then say 8M direct shares outstanding, then Ken would issue 8M ActM Colored Coins and tender them to each users address.  Now, the thing I am unsure of is whether an issuer can go back and issue more CC's on top of the existing ones.  This would be essential, seeing as you will likely run into latecomers or say another exchange (Bitfunder for example) decides to close their doors completely.


Edit: To be clear, Color Coins are not out of development yet.  Hopefully though, there is enough demand from the community for the protocol to be released relatively soon though.

[finlof]

all this is great except for the fact that I have already reduced my ActiveMining position to 0, as I assume most other Americans have done or soon will do.  too little too late.  good luck with the company.

[kleeck]

all this is great except for the fact that I have already reduced my ActiveMining position to 0, as I assume most other Americans have done or soon will do.  too little too late.  good luck with the company.

False.

Why would I cash out at a loss when none of the reasons I'm invested in ActM have changed? There are many other of us Americans that are still long on ActM. The exchange issue is short-term.

[drawingthesun]

all this is great except for the fact that I have already reduced my ActiveMining position to 0, as I assume most other Americans have done or soon will do.  too little too late.  good luck with the company.

False.

Why would I cash out at a loss when none of the reasons I'm invested in ActM have changed? There are many other of us Americans that are still long on ActM. The exchange issue is short-term.

Ken, I am not American but for people like kleeck that are in America can you turn their shares into direct shares? This will allow them to create pass throughs on other exchanges without you having to be involved?

[minerpart]

I only held 50,000 shares after the "big crash" down to .0015.  
Before that, I managed to sell 150,000 above IPO value on BTCT.
Don't worry, I'm alright.  Ken is the only reason the share price has plummeted this far, nothing to do with BF or BTCT
I'm Canadian BTW

Every Canadian I've met (once spent 3 weeks in BC/Vancouver) has been friendly, fair, a decent person. There is always the exception the rule.

[thefunkybits]

@girlfawkesy

First problem: how do you avoid a 51% attack?

I think this is where something like colored coins shows it's value - using the strength of the already well established Bitcoin network.

Edit: It might be possible to avoid Blockchain manipulation be keeping the difficulty low, and some how privately mine it in house. But, that's not quite decentralized, is it.

to avoid a 51% attack simply make the coin merge-mined with BTC no?

similar to namecoin, freicoin....then it doesnt matter what the hash rate is or if anyone even mines it at all. It doesnt even have to be sha-256 or scrypt, some form of proof of stake similar to PPC could be implemented

[knybe]

all this is great except for the fact that I have already reduced my ActiveMining position to 0, as I assume most other Americans have done or soon will do.  too little too late.  good luck with the company.

False.

Why would I cash out at a loss when none of the reasons I'm invested in ActM have changed? There are many other of us Americans that are still long on ActM. The exchange issue is short-term.

+++++1

The fundamentals of ActiveMining have not changed. What's more; this has pushed the market to find a decentralized way of exchange.

It's an interesting time... If you have the stomach for it

[Technologov]

It seems that BitFunder won't be able to accept U.S. citizens because of the U.S. regulations, and the tendency of U.S. government to go after overseas banks and exchanges. Peter Schiff explained regulations in YouTube videos.

1. I'm from Israel, investor in Active Mining and willing to send my documents to BitFunder and WeExchange, if needed.

2. I *can* store other (U.S) people's shares in my account, for a fee. (like a warehouse)
(it means the people will not be able to sell them anytime soon, lets say 6 months, because my time is valuable, and I don't want to spend too much time around. Also a minimum position would be required, of say 20,000 shares at least, again to save my time. I really cannot help the small investors out there with few hundred shares due to time constraints.). It would require trust.

3. It is only until we (the community) find a better solution. (Colored Coins?). Once solution is found, all shares will be returned.

4. I can help only a small amount of people. (a few dozens at most)

5. I have warned about the centralized bitcoin stock exchange risk back in July, 2013. Here:
https://bitcointalk.org/index.php?topic=259272.msg2765334#msg2765334

6. I strongly recommend you to often backup of Bitfunder's public holder's asset-list:
https://bitfunder.com/assetlist

-Technologov

[neilol]

It seems that BitFunder won't be able to accept U.S. citizens because of the U.S. regulations, and the tendency of U.S. government to go after overseas banks and exchanges.

1. I'm from Israel, investor in Active Mining and willing to send my documents to BitFunder and WeExchange, if needed.

2. I *can* store other (U.S) people's shares in my account, for a fee. (like a warehouse)
(it means the people will not be able to sell them anytime soon, lets say 6 months, because my time is valuable, and I don't want to spend too much time around. Also a minimum position would be required, of say 20,000 shares at least, again to save my time. I really cannot help the small investors out there with few hundred shares due to time constraints.). It would require trust.

3. It is only until we (the community) find a better solution. (Colored Coins?). Once solution is found, all shares will be returned.

4. I can help only a small amount of people. (a few dozens at most)

5. I have warned about the centralized bitcoin stock exchange risk back in July. Here:
https://bitcointalk.org/index.php?topic=259272.msg2765334#msg2765334

6. I strongly recommend you to often backup of Bitfunder's public holder's asset-list:
https://bitfunder.com/assetlist

-Technologov

I might be interested depending on how things develop over the next few weeks.

[VolanicEruptor]

I only held 50,000 shares after the "big crash" down to .0015.  
Before that, I managed to sell 150,000 above IPO value on BTCT.
Don't worry, I'm alright.  Ken is the only reason the share price has plummeted this far, nothing to do with BF or BTCT
I'm Canadian BTW

Every Canadian I've met (once spent 3 weeks in BC/Vancouver) has been friendly, fair, a decent person. There is always the exception the rule.

We weren't talking about manners, it was about the US ban..

[thefunkybits]

Does ACTM have any plans to move their mining farm out of the US in the case of something like this happening with mining?


The fact that US citizens are running this company and that our mining farm is located in "The land of the free"-USA scares me a little bit. 

[knybe]

Does ACTM have any plans to move their mining farm out of the US in the case of something like this happening with mining?


The fact that US citizens are running this company and that our mining farm is located in "The land of the free"-USA scares me a little bit. 

As far as I know, mining BTC has nothing to do with securities that fall under the SEC's jurisdiction.

[kslaughter]

all this is great except for the fact that I have already reduced my ActiveMining position to 0, as I assume most other Americans have done or soon will do.  too little too late.  good luck with the company.

False.

Why would I cash out at a loss when none of the reasons I'm invested in ActM have changed? There are many other of us Americans that are still long on ActM. The exchange issue is short-term.

+++++1

The fundamentals of ActiveMining have not changed. What's more; this has pushed the market to find a decentralized way of exchange.

It's an interesting time... If you have the stomach for it

I think decentralized is the only way to go as this will happen to any other centralized exchange.  Looking into the Namecoin code to create a decentralized exchanged.  As was said above it can be merged mined with Bitcoin.  We could uses our own miners to get it going.

[kslaughter]

Does ACTM have any plans to move their mining farm out of the US in the case of something like this happening with mining?


The fact that US citizens are running this company and that our mining farm is located in "The land of the free"-USA scares me a little bit. 

Mining is legal in the US, should mining become illegal in US we would move our mining fram(s) outside the country.  I don't see mining being illegal anytime soon in the US. 

[SebastianJu]

Coming from Labcoin-Thread where everyone screams to call the SEC and seeing the ActiveMining Thread were everyone hates the SEC and wants to get rid of them... oh the irony...

I dont like the pricedrop i see in my asset so far...

@kslaughter... Whats the status of the mining farm?