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

[Ozymandias]

So is the $1.4M money that is received in hand (or already paid to easic or whatever) or is that the amount pledged with no commitment? That's a good number and I'm happy to see it, but I'd like to know what it means.

Also, very excited about both the exchange and the colored coin plan, next couple of months should be exciting!

[Sou]

So is the $1.4M money that is received in hand (or already paid to easic or whatever) or is that the amount pledged with no commitment? That's a good number and I'm happy to see it, but I'd like to know what it means.

Also, very excited about both the exchange and the colored coin plan, next couple of months should be exciting!

This is a good question; i would also like to if this is money in hand, or just an orders placed. I believe we should find out tomorrow the 15th - hopefully.

[drawingthesun]

So is the $1.4M money that is received in hand (or already paid to easic or whatever) or is that the amount pledged with no commitment? That's a good number and I'm happy to see it, but I'd like to know what it means.

Also, very excited about both the exchange and the colored coin plan, next couple of months should be exciting!

I remember Ken saying it was pledged with no commitment, I can't find exactly where he said that though.

[int3ractivodular]

Good to know we won't have to be super worried about the exchanges shutting down all over the place.

[aquarius]

Lets say that ActivingMining ends up not selling as many units as one would like.  Couldn't Actm just use those unsold units to mine?  It seems like a focus on selling units is short sighted if you actually trust that Actm will produce units that will exceed ROI.

Yeah I think that is all pretty obvious. It goes without saying. There is no focus only on selling, not sure where you get that from.

ACtM are going to both sell all the machines they can for instant income to reinvest and at the same time fill the mining farm up for longterm payouts.

this is great, assuming that Ken can move faster than a drunken sloth.  Hope he takes all his meds..

Must be tough to be involved with you in real life... negative people are a total downer.

I don't discuss this dark world of bitcoin stocks with RL people.  I skydive and am currently taking flight lessons, not shitting you, I also get out a lot and am quite the family guy.. my life is fun as fuck right now and I'm actually a nice guy to get a long with, ask anybody who knows me in person.  Ken has forced me to break character on here, long time ago.

yeah, because everyone knows that if you don't get what you want, the optimal behaviour is to throw a fit and act like a spoiled child. Reason and debate in a civil tone is what sub-humans do, right?

[BitcoinForumator]

What does the over 1M$ in sales mean for investors? The price of shares reacted after this announcement but now it's leveling. I would think this would have a bigger impact, but i guess this 1M$ isn't worth much?

[drawingthesun]

What does the over 1M$ in sales mean for investors? The price of shares reacted after this announcement but now it's leveling. I would think this would have a bigger impact, but i guess this 1M$ isn't worth much?

Nothing matters until we have chips from eASIC and we put them on boards and get those boards hashing. This is the only thing that matters.

If we don't get the chips soon this company is worth nothing.

The million dollars has to be returned if we cannot deliver the machines anyway, Ken said this himself. So if we don't hash this share hits 0.

The reason that the price is so low is that most investors do not believe we will hash in time, and they may be right.

EDIT: And I am quite heavily invested, if we do not hash in time I will lose a lot. And when I say in time, I mean if we keep delaying each month reduces our potential profits by over 60% If we can't hash in November this company is out for good.

[sparky999]

Ken posted this on 19th septemeber


What are the current plans for chip development?
ActiveMining is developing a 28nm Bitcoin mining chip using eASIC.

    Chip samples delivered in 9 weeks;
    Low-volume chip production starting in 12 weeks, using an e-beam process;
    Normal volume chip production starting in 16-18 weeks.


This should mean we have chip samples at end of Nov and won't be hashing fully till Jan. Can you confirm this is accurate Ken or have things changed?

[drawingthesun]

Ken posted this on 19th septemeber


What are the current plans for chip development?
ActiveMining is developing a 28nm Bitcoin mining chip using eASIC.

    Chip samples delivered in 9 weeks;
    Low-volume chip production starting in 12 weeks, using an e-beam process;
    Normal volume chip production starting in 16-18 weeks.


This should mean we have chip samples at end of Nov and won't be hashing fully till Jan. Can you confirm this is accurate Ken or have things changed?

I was under the impression that the process had started long before September 19th and that when Ken wrote that he did not mean from that point we have to wait 3 months.

If so this is severely unfortunate. Hopefully the sample chips can offer a decent hash rate.

[drawingthesun]

This should mean we have chip samples at end of Nov and won't be hashing fully till Jan. Can you confirm this is accurate Ken or have things changed?

“The fast design and turnaround time of Nexteme-3 28nm single via configuration ASIC devices
coupled with the impressive performance and low power makes this an ideal solution for our
Fast-Hash-One Bitcoin Mining Machines,” said Kenneth E. Slaughter, CEO of VMC

I don't think waiting 3 months for miners from September 19th is a fast turnaround, the eASIC deal has been ongoing for a while. So actually the turnaround is more like 5 - 6 months. Its a shame this is being considered fast.

With 60% loss in profits per month, well its a little too depressing to think about actually.

[deizel]

Ken posted this on 19th septemeber


What are the current plans for chip development?
ActiveMining is developing a 28nm Bitcoin mining chip using eASIC.

    Chip samples delivered in 9 weeks;
    Low-volume chip production starting in 12 weeks, using an e-beam process;
    Normal volume chip production starting in 16-18 weeks.


This should mean we have chip samples at end of Nov and won't be hashing fully till Jan. Can you confirm this is accurate Ken or have things changed?

The timing of sample chips (end of Nov) seems correct given the following statement from last month:

eASIC press release:

http://virtualminingcorp.com/pr130904.pdf
http://www.easic.com/vmc-uses-easic-to-achieve-24-756-ths-bitcoin-miner/

Additional important news for shareholders from Ken via the Advisory Board:

First units on schedule for second half of November.

PR will post this formally shortly (re: press release)

Also, it seems some customers will have equipment in hand before January:

I tried to place an order but the approx delivery is 31 December.
"Approximate date of delivery with this carrier is between Tuesday 31 December 2013 and Thursday 2 January 2014 * "
Is this Right??

Thank You

This is what our shopping cart is estimating, based on the pre-order queue.  It should be before this date.

I think it's safe to say we will be mining before customers.

[zumzero]

What does the over 1M$ in sales mean for investors? The price of shares reacted after this announcement but now it's leveling. I would think this would have a bigger impact, but i guess this 1M$ isn't worth much?

Nothing matters until we have chips from eASIC and we put them on boards and get those boards hashing. This is the only thing that matters.

If we don't get the chips soon this company is worth nothing.

The million dollars has to be returned if we cannot deliver the machines anyway, Ken said this himself. So if we don't hash this share hits 0.

The reason that the price is so low is that most investors do not believe we will hash in time, and they may be right.

EDIT: And I am quite heavily invested, if we do not hash in time I will lose a lot. And when I say in time, I mean if we keep delaying each month reduces our potential profits by over 60% If we can't hash in November this company is out for good.

I hearby declare your new title to be that of 'drawingthecloud'   

Seriously though, why all the doom and gloom?  I disagree with your explantation for the current share price.  I think it's more to do with the fact that the flippers and speculators left long ago, not to mention recent events with the BF announcement.  Add to that the fact that we were let down with the Avalon chips and should have been mining weeks ago at a respectable rate.  In this game hours are days, days are weeks and weeks are months, and if a company isn't seen to be making giant leaps forward all the time then share price declines as the short term speculators jump ship. 

[LorenzoMoney]

Changes. About two weeks apart, and mostly the same addresses own the same amounts.
Position #8 seems to have sold off all of his or her shares. After that, there is some position shifting.
What does that all mean?

10/1/2013       0   Asset   Shares   Public Bitcoin Address 1   ActiveMining   556,687   14yTynjmSe5bsRGykDaaCL5bm2pxiEfcqE 2   ActiveMining   240,000   1GU4U6oPgBDjBzq7F5jrArJ5UyT8dy6MrQ 3   ActiveMining   232,175   1Mn65Q9Xm6NBoPdF8ppS3AzgRLt92ZKtTq 4   ActiveMining   226,306   1LKSeSk8cE2hEPGPs4Chx7EsGa5KuAwmDQ 5   ActiveMining   205,991   1Pn9fHiHJsgBgbYf1rksof2xRRDZLrzW6q 6   ActiveMining   203,293   1FscNBYzd5CqDzUVQ9YapLQNtLbswkM4NL 7   ActiveMining   196,948   1Gphg5x9zTk1MNVDjwKm9c2MSH73K4GAhX 8   ActiveMining   186,764   1AgcKvKFw1UTMifBWMkcMt1jPCnJMXjx3P 9   ActiveMining   173,477   1NAZhPAhVKNbek9rgXSTjk2v5FXuyGPqsS 10   ActiveMining   160,422   1PsUo73wzp8MbCy9adAxH3Kom1cz6HFJ8q 11   ActiveMining   160,420   13DzTjabVGGN64Rc8V7tAkSZJ7BHUxuQqY 12   ActiveMining   159,430   1AGwbfHjaddMwWA9zSEwSJLV2ZBoSSWXP9 13   ActiveMining   144,777   1D5dbRqnULwJUBQKaJM8zWzd6iXWBjDkQB 14   ActiveMining   137,267   1KQDRue63B2MVYWdP2FbGYnBJE2trDnWX5

10/14/2013        1 509,979   14yTynjmSe5bsRGykDaaCL5bm2pxiEfcqE 2 240,000   1GU4U6oPgBDjBzq7F5jrArJ5UyT8dy6MrQ 3 232,175   1Mn65Q9Xm6NBoPdF8ppS3AzgRLt92ZKtTq 4 226,806   1LKSeSk8cE2hEPGPs4Chx7EsGa5KuAwmDQ 5 207,887   1Pn9fHiHJsgBgbYf1rksof2xRRDZLrzW6q 6 203,293   1FscNBYzd5CqDzUVQ9YapLQNtLbswkM4NL 7 201,537   1Gphg5x9zTk1MNVDjwKm9c2MSH73K4GAhX 8 161,941   1NAZhPAhVKNbek9rgXSTjk2v5FXuyGPqsS 9 160,959   1PsUo73wzp8MbCy9adAxH3Kom1cz6HFJ8q 10 159,312   1KQDRue63B2MVYWdP2FbGYnBJE2trDnWX5 11 159,084   1PZQxfkrufudbNa4bKyc1Vas3RSv6d7C1A 12 155,025   1AGwbfHjaddMwWA9zSEwSJLV2ZBoSSWXP9 13 137,183   1BeAEnppvVgT7T8US8mUNe7n2nxDudApmG 14 128,777   1D5dbRqnULwJUBQKaJM8zWzd6iXWBjDkQB

[/size]

[kleeck]

Ken posted this on 19th septemeber


What are the current plans for chip development?
ActiveMining is developing a 28nm Bitcoin mining chip using eASIC.

    Chip samples delivered in 9 weeks;
    Low-volume chip production starting in 12 weeks, using an e-beam process;
    Normal volume chip production starting in 16-18 weeks.


This should mean we have chip samples at end of Nov and won't be hashing fully till Jan. Can you confirm this is accurate Ken or have things changed?

We have had this discussion multiple times in the various ActM threads.

The time ranges are correct, as per eASIC's own information*, but the clock starts at the time of NRE payment. Due to the NDA covering all monetary exchanges between parties, Ken could not inform us exactly when the NRE was paid, but did say towards the end of August that it had been "quite some time ago". By most estimates the NRE was paid within the first two weeks of August. I estimate off of an NRE paid on the 12th.

For what it's worth, I think Ken could have prototypes hashing before the end of the month.

* http://www.easic.com/high-speed-transceivers-low-cost-power-fpga-nre-asic-45nm-easic-nextreme-2/easic-nextreme-2-overview/

[iCEBREAKER]

I love how we all have to guess at what's gong on with ACTIVEMINING.

I don't need to guess, having taken my money out of ACTM at a huge profit back in August.

But yes, I do love how you, zum, and the other one or two die-hard cheerleaders don't even know exactly what your cheering for any more.

KnC shipped a much more complex chip in less time. 

HashFast is getting chips 3x more efficient than KnC in a week.

ACTM is doomed.

[drawingthesun]

HashFast is getting chips 3x more efficient than KnC in a week.

ACTM is doomed.

Actually your beloved icedrill is also doomed. Troll.

[Elokane]

I love how we all have to guess at what's gong on with ACTIVEMINING.

I don't need to guess, having taken my money out of ACTM at a huge profit back in August.

But yes, I do love how you, zum, and the other one or two die-hard cheerleaders don't even know exactly what your cheering for any more.

KnC shipped a much more complex chip in less time. 

HashFast is getting chips 3x more efficient than KnC in a week.

ACTM is doomed.

What exactly are they getting in a week?

[knybe]

I love how we all have to guess at what's gong on with ACTIVEMINING.

I don't need to guess, having taken my money out of ACTM at a huge profit back in August.

But yes, I do love how you, zum, and the other one or two die-hard cheerleaders don't even know exactly what your cheering for any more.

KnC shipped a much more complex chip in less time.  

HashFast is getting chips 3x more efficient than KnC in a week.

ACTM is doomed.

If you're not in this anymore, then why do you keep coming in here to look at it and snark like a twelve year old...
Now step your silly ass out of this thread and kindly take a flying fuck at the pit of hell.

[zumzero]

Changes. About two weeks apart, and mostly the same addresses own the same amounts.
Position #8 seems to have sold off all of his or her shares. After that, there is some position shifting.
What does that all mean?

10/1/2013       0   Asset   Shares   Public Bitcoin Address 1   ActiveMining   556,687   14yTynjmSe5bsRGykDaaCL5bm2pxiEfcqE 2   ActiveMining   240,000   1GU4U6oPgBDjBzq7F5jrArJ5UyT8dy6MrQ 3   ActiveMining   232,175   1Mn65Q9Xm6NBoPdF8ppS3AzgRLt92ZKtTq 4   ActiveMining   226,306   1LKSeSk8cE2hEPGPs4Chx7EsGa5KuAwmDQ 5   ActiveMining   205,991   1Pn9fHiHJsgBgbYf1rksof2xRRDZLrzW6q 6   ActiveMining   203,293   1FscNBYzd5CqDzUVQ9YapLQNtLbswkM4NL 7   ActiveMining   196,948   1Gphg5x9zTk1MNVDjwKm9c2MSH73K4GAhX 8   ActiveMining   186,764   1AgcKvKFw1UTMifBWMkcMt1jPCnJMXjx3P 9   ActiveMining   173,477   1NAZhPAhVKNbek9rgXSTjk2v5FXuyGPqsS 10   ActiveMining   160,422   1PsUo73wzp8MbCy9adAxH3Kom1cz6HFJ8q 11   ActiveMining   160,420   13DzTjabVGGN64Rc8V7tAkSZJ7BHUxuQqY 12   ActiveMining   159,430   1AGwbfHjaddMwWA9zSEwSJLV2ZBoSSWXP9 13   ActiveMining   144,777   1D5dbRqnULwJUBQKaJM8zWzd6iXWBjDkQB 14   ActiveMining   137,267   1KQDRue63B2MVYWdP2FbGYnBJE2trDnWX5

10/14/2013        1 509,979   14yTynjmSe5bsRGykDaaCL5bm2pxiEfcqE 2 240,000   1GU4U6oPgBDjBzq7F5jrArJ5UyT8dy6MrQ 3 232,175   1Mn65Q9Xm6NBoPdF8ppS3AzgRLt92ZKtTq 4 226,806   1LKSeSk8cE2hEPGPs4Chx7EsGa5KuAwmDQ 5 207,887   1Pn9fHiHJsgBgbYf1rksof2xRRDZLrzW6q 6 203,293   1FscNBYzd5CqDzUVQ9YapLQNtLbswkM4NL 7 201,537   1Gphg5x9zTk1MNVDjwKm9c2MSH73K4GAhX 8 161,941   1NAZhPAhVKNbek9rgXSTjk2v5FXuyGPqsS 9 160,959   1PsUo73wzp8MbCy9adAxH3Kom1cz6HFJ8q 10 159,312   1KQDRue63B2MVYWdP2FbGYnBJE2trDnWX5 11 159,084   1PZQxfkrufudbNa4bKyc1Vas3RSv6d7C1A 12 155,025   1AGwbfHjaddMwWA9zSEwSJLV2ZBoSSWXP9 13 137,183   1BeAEnppvVgT7T8US8mUNe7n2nxDudApmG 14 128,777   1D5dbRqnULwJUBQKaJM8zWzd6iXWBjDkQB

[/size]

Thanks for taking the time to compile these lists.  To me this information is a clear indication that one of the following is true, (i) some or all of these investors are only holding these shares because the 14 day mean share price suggests they are in negative equity (ii) some or all of these shareholders believe that holding these shares is a sound investment. (iii) some or all of these shareholders are dead.

Given that the vast majority of the above shares were purchased at the price of 0.0005 btc per share, and that it's extremely unlikely they've came to a sticky end, I declare (ii) the winner.  

[zumzero]

HashFast is getting chips 3x more efficient than KnC in a week.

ACTM is doomed.

Actually your beloved icedrill is also doomed. Troll.

When "doomed" means I'm getting at least 4 Batch 1 Sierras, that's fine with me!  

My Sierras will be hashing at 5TH+ before you get your crappy ActiveFailing chips.

Also, IceDrill enjoys the option to stay on Bitfunder, unlike ActiveFailing (soon to be seen in an unconstitutional SEC administrative "court").

I was called "troll" by many who lost their shirt betting on ActiveFailing.

How did that work out for them?  

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 your contributions.