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

[navitatl]

Question Regarding Bitfunder Shares and Future Transfer.

My shares/assets are listed under a CoinBase public address that I guess is difficult to sign.  Will this be a problem?  Do I need to switch to a different public address?

I definitely think it'd be advisable to switch it to a secure paper wallet address.

[Nootnewbie]

Question Regarding Bitfunder Shares and Future Transfer.

My shares/assets are listed under a CoinBase public address that I guess is difficult to sign.  Will this be a problem?  Do I need to switch to a different public address?

I definitely think it'd be advisable to switch it to a secure paper wallet address.

Any particular reason for this?

[coinfresh]

Bloomberg article is very cool. Good job Ken.

[navitatl]

Any particular reason for this?

One less layer of trust, as long as you know what you're doing. And it won't be associated with your identity.

[knybe]

Any particular reason for this?

One less layer of trust, as long as you know what you're doing. And it won't be associated with your identity.

Doesn't necessarily need to be a paper wallet, you can also use Bitcoin-Qt client to make a new public address for BF that you can sign as well.

[Nootnewbie]

Any particular reason for this?

One less layer of trust, as long as you know what you're doing. And it won't be associated with your identity.

Doesn't necessarily need to be a paper wallet, you can also use Bitcoin-Qt client to make a new public address for BF that you can sign as well.

Thanks for the help guys.
Am I right to assume that I can't sign anything with a coinbase wallet? 

[knybe]

Any particular reason for this?

One less layer of trust, as long as you know what you're doing. And it won't be associated with your identity.

Doesn't necessarily need to be a paper wallet, you can also use Bitcoin-Qt client to make a new public address for BF that you can sign as well.

Thanks for the help guys.
Am I right to assume that I can't sign anything with a coinbase wallet? 

I would imagine so, don't know where you'd do that on CB.

[wasubii]

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.

Shouldn't that be 60% reduction in profits every 2 weeks?

[drawingthesun]

Shouldn't that be 60% reduction in profits every 2 weeks?

Difficulty change is between 25% - 35% every two weeks.

[Nootnewbie]

Shouldn't that be 60% reduction in profits every 2 weeks?

Difficulty change is between 25% - 35% every two weeks.

With all these increases in difficulty, would we be able to get a rough estimate of total profit from sales/mining with the chips currently in development?

As in would we be able to find out what the shelf life of this batch would be?  3 months?  6 months?

[drawingthesun]

Shouldn't that be 60% reduction in profits every 2 weeks?

Difficulty change is between 25% - 35% every two weeks.

With all these increases in difficulty, would we be able to get a rough estimate of total profit from sales/mining with the chips currently in development?

As in would we be able to find out what the shelf life of this batch would be?  3 months?  6 months?

I think the idea is that Ken must put a decent amount of money back into R&D every week just to keep the hash rate percentage the same. How effective this is depends on if that reinvested money is enough to keep us going.

If we just get these chips and send all profits to investors then the shelf life of the eASIC hardware is about 2 months absolute max before they are bricks.

[Nootnewbie]

Shouldn't that be 60% reduction in profits every 2 weeks?

Difficulty change is between 25% - 35% every two weeks.

With all these increases in difficulty, would we be able to get a rough estimate of total profit from sales/mining with the chips currently in development?

As in would we be able to find out what the shelf life of this batch would be?  3 months?  6 months?

I think the idea is that Ken must put a decent amount of money back into R&D every week just to keep the hash rate percentage the same. How effective this is depends on if that reinvested money is enough to keep us going.

If we just get these chips and send all profits to investors then the shelf life of the eASIC hardware is about 2 months absolute max before they are bricks.

Is this weekly-reinvestment reasonable?  Any idea how much $$ as well as how much time it would take to keep up with the hash rate?  I'm just saying as it seems like it will take approximately 6 months from chip design to production for this current batch.  Perhaps it will take about the same time for the next batch?  Maybe it's best to just one and done it?  Take the money and run?  Just playing devil's advocate here.  I'm invested in Actm; just curious to see if people knew what Ken's game plan was.

[drawingthesun]

Is this weekly-reinvestment reasonable?  Any idea how much $$ as well as how much time it would take to keep up with the hash rate?  I'm just saying as it seems like it will take approximately 6 months from chip design to production for this current batch.  Perhaps it will take about the same time for the next batch?  Maybe it's best to just one and done it?  Take the money and run?  Just playing devil's advocate here.  I'm invested in Actm; just curious to see if people knew what Ken's game plan was.

Then that is an issue, Ken needs to pay just under 0.0025 to 10,000,000 shares before he starts earning on his 15,000,000 shares. Will the current batch be enough to earn more than 0.0025? Most likely not. Thats why we need reinvestment.

[coinminers]

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

I know I am ... =/

[superduh]

almost nov. good news should start rolling out soon right?

[zumzero]

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

I know I am ... =/

What is it with all these symbols?  What do they mean?  Is this the same thing as the American's strange obsession with abbreviating everything, that we now need to understand random symbols as well? ==/ ==/=

[zumzero]

almost nov. good news should start rolling out soon right?

Depends on your perspective.

Some might suggest that Ken failing to deliver on his promise of releasing a 3 month P&L and balance sheet yesterday means that he can't be trusted to keep his word in the future.

I, on the other hand, would settle for an apology and an explanation as to why he hasn't kept his word.

[drawingthesun]

What is it with all these symbols?  What do they mean?  Is this the same thing as the American's strange obsession with abbreviating everything, that we now need to understand random symbols as well? ==/ ==/=

By creating many abbreviations and symbols, the speaker can seem more intelligent when they are asked to explain what their symbols mean. Its shifts position of power in an argument to the person who knows what all the symbols mean.

Using language everyone can understand would create too much of an equal footing, especially when most internet arguments/discussions are really weak.

[zumzero]

What is it with all these symbols?  What do they mean?  Is this the same thing as the American's strange obsession with abbreviating everything, that we now need to understand random symbols as well? ==/ ==/=

By creating many abbreviations and symbols, the speaker can seem more intelligent when they are asked to explain what their symbols mean. Its shifts position of power in an argument to the person who knows what all the symbols mean.

Using language everyone can understand would create too much of an equal footing, especially when most internet arguments/discussions are really weak.

 

[drawingthesun]

almost nov. good news should start rolling out soon right?

Depends on your perspective.

Some might suggest that Ken failing to deliver on his promise of releasing a 3 month P&L and balance sheet yesterday means that he can't be trusted to keep his word in the future.

I, on the other hand, would settle for an apology and an explanation as to why he hasn't kept his word.

Lets hope his explanation is good. EDIT: P&L at the end of the month.

Dividend day is today and its going to be really poor. I expected single digit satoshi dividends within several weeks.