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

[4ju5tice]

It may have been this way for a while, but the big walls are gone on Bitfunder.

[Nootnewbie]

What is ActiveMining's policy towards customers who pre-ordered miners that are predicted to have a negative ROI?  I'm thinking of throwing some money down on a miner now that BTC is way up....

[somestranger]

What is ActiveMining's policy towards customers who pre-ordered miners that are predicted to have a negative ROI?  I'm thinking of throwing some money down on a miner now that BTC is way up....

There is no "insurance policy" if that's what you're asking. If it will have a negative ROI in your calculations then don't order. Less orders just means the ActM Batcave will have more hash power for itself.

[4ju5tice]

What is ActiveMining's policy towards customers who pre-ordered miners that are predicted to have a negative ROI?  I'm thinking of throwing some money down on a miner now that BTC is way up....

Here's the thing. It's a bet on whether or not you think that the difficulty increase is going to be 100+% compounded monthly. There's got to be a stopping point to the difficulty growth. The genesis block measures it at an extremely high increase over time. Maybe that's realistic but since we've hit the best asic technology that will exist for a while, I think we'll stay within the same order of magnitude for some time. I expect that we will see the difficulty levels flatten out. With that in mind, the calculator becomes negligible in the current environment. Maybe I'm making some bad assumptions and I welcome friendly discussion, but I think that mining will still continue to be profitable, especially with the btc value constantly increasing.

This is a liquid free world-wide market that can't be controlled. The world has never seen anything like this before. Don't be surprised if crazy shit happens.

[wasubii]

Ken,

Can you verify what U.S. Bitfunder users need to do to be sure that their shares preserved?  Do we need to be sure our public bitcoin address is one where we can sign?  For example, a non-CoinBase address?

Yes, you need to have a public Bitcoin address that you can sign, so that we can verify the number of shares you own from the Bitfunder Asset List.

If I run my wallet on my local machine, is that not good enough? I have shares currently on bitfunder, US customer.

It is scary when you have people in here investing in super risky mining securities who don't really have a grasp of how the blockchain and bitcoin protocol works in general.

maybe he only has 25 dollars worth of shares, in which case I don't see what's wrong with investing in something you don't completely understand

Patience, old dogs... teach don't spurn.

It's all part of the learning process.

The more using Bitcoin, the merrier.

 

+1

[Nootnewbie]

What is ActiveMining's policy towards customers who pre-ordered miners that are predicted to have a negative ROI?  I'm thinking of throwing some money down on a miner now that BTC is way up....

There is no "insurance policy" if that's what you're asking. If it will have a negative ROI in your calculations then don't order. Less orders just means the ActM Batcave will have more hash power for itself.

Oh ok, I just thought I heard somewhere (maybe his interview?) that he was planning on something like an "insurance policy" like giving extra hashing power or something.

[redbeans2012]

What is ActiveMining's policy towards customers who pre-ordered miners that are predicted to have a negative ROI?  I'm thinking of throwing some money down on a miner now that BTC is way up....

There is no "insurance policy" if that's what you're asking. If it will have a negative ROI in your calculations then don't order. Less orders just means the ActM Batcave will have more hash power for itself.

Oh ok, I just thought I heard somewhere (maybe his interview?) that he was planning on something like an "insurance policy" like giving extra hashing power or something.

He did say if he missed the scheduled date he would give extra hashing power.

[WildFire.ca]

I for one am glad that Ken is spending his time working and getting the company sorted as well as other things that help the company. This is how this works. Ken needed money to get an ASIC mining company going. We lent Ken that money and he is using it to make us a fantastic company. He is not spending his time in here answering every ones questions about when, how and why, hes busy. Get it.. He's busy working on building us a great company we can be proud of. It sad when I can skip 5 pages of BS and know I have missed nothing, Not One Thing.   Focus on the project people,  Stay on target.   If your worried about the price dropping, my guess is that its Americans that fear that Bitcoin's, or Colour Coins are going to fail. I do not see this happening. I feel that the SEC sent the regular letter out expecting the BTC stock exchanges to comply and pay the extravagant fees. The SEC did not expect them to exclude Americans and they are rethinking this. Either way they missed the boat, Coloured Coins are here to stay thanks the the SEC, TY SEC.

[crumbs]

What is ActiveMining's policy towards customers who pre-ordered miners that are predicted to have a negative ROI?  I'm thinking of throwing some money down on a miner now that BTC is way up....

Here's the thing. It's a bet on whether or not you think that the difficulty increase is going to be 100+% compounded monthly. There's got to be a stopping point to the difficulty growth. The genesis block measures it at an extremely high increase over time. Maybe that's realistic but since we've hit the best asic technology that will exist for a while, I think we'll stay within the same order of magnitude for some time. I expect that we will see the difficulty levels flatten out. With that in mind, the calculator becomes negligible in the current environment. Maybe I'm making some bad assumptions and I welcome friendly discussion, but I think that mining will still continue to be profitable, especially with the btc value constantly increasing.

This is a liquid free world-wide market that can't be controlled. The world has never seen anything like this before. Don't be surprised if crazy shit happens.

Of course there's going to be a point where exponential growth slows down and even stops.  It's not happening any time soon, and banking on it happening is betting against the odds.  If anything, Genesis block predictions proved to be optimistic.  With Bitfury and KNC gear coming online and Hashdfast, Cointerra & co. scheduled to do the same, BFL & other established players are also introducing 28nm offerings.  There is no reason to expect a slowdown.

As far as free market rhetoric, this market is controlled by people with money -- the same people who have always controlled the free market, and brought you the wonderful innovations you know and love -- the nation-state & the government.

[drawingthesun]

Crumbs.

[crumbs]

Crumbs.

Yep.  It's me.  The guy who called it from day one & tried to save you from this cesspool of fail.
Now total failure is guaranteed, even if these chips prove to be more than a fever dream

[drawingthesun]

Crumbs.

Yep.  It's me.  The guy who called it from day one & tried to save you from this cesspool of fail.
Now total failure is guaranteed, even if these chips prove to be more than a fever dream

Do you have a link to this post on day one? I am genuinely curious.

[crumbs]

Crumbs.

Yep.  It's me.  The guy who called it from day one & tried to save you from this cesspool of fail.
Now total failure is guaranteed, even if these chips prove to be more than a fever dream

Do you have a link to this post on day one? I am genuinely curious.

I'm not going to look for it now, this forum's search is sort-a painful.  You're right, it wasn't on day 1 -- simply my first encounter with ActM, my first post in the now-locked thread ~3 months ago.  My ignore button was still a virgin then, but got raped to its current color within a few days  
I'll find the post for you in a bit -- thanks for asking.

[drawingthesun]

Yeah I wish I had done some more research into the criticisms before investing.

Not much I can do now, I hope that we get miners soon and a decent dividend.

[zumzero]

It must be very difficult to make a statement saying a high risk buisness investment is unlikely to succeed.

[SebastianJu]

Wheres the latest depression comes from? The last time everyone was hyped because ActiveMining was mentioned in BBC or similar and now all is bad again? What news support this?

Sometimes some labcoin and activemining trader looks to me like manic depressives, changing from deep depressions to high euphorica and back to start again...

[drawingthesun]

Wheres the latest depression comes from? The last time everyone was hyped because ActiveMining was mentioned in BBC or similar and now all is bad again? What news support this?

Sometimes some labcoin and activemining trader looks to me like manic depressives, changing from deep depressions to high euphorica and back to start again...

Everytime the difficulty increases by 30% - 40% many of us freak out. We are being left far behind with no reassurance that we are on track, Ken has not even ordered the first batch yet.

[knybe]

Well somebody's out there mining gettin coin... And it ain't us.

[SebastianJu]

Wheres the latest depression comes from? The last time everyone was hyped because ActiveMining was mentioned in BBC or similar and now all is bad again? What news support this?

Sometimes some labcoin and activemining trader looks to me like manic depressives, changing from deep depressions to high euphorica and back to start again...

Everytime the difficulty increases by 30% - 40% many of us freak out. We are being left far behind with no reassurance that we are on track, Ken has not even ordered the first batch yet.

Right... its no fun to see.

[kleeck]

Wheres the latest depression comes from? The last time everyone was hyped because ActiveMining was mentioned in BBC or similar and now all is bad again? What news support this?

Sometimes some labcoin and activemining trader looks to me like manic depressives, changing from deep depressions to high euphorica and back to start again...

I'm not a FUDster, nor am I panicking, but I get why the mood is depressed.

It's hard to see other ventures taking advantage of the lower current difficulty while also participating in growing the difficulty for the next period. This hardship is exacerbated by the fact that Ken has offered no real news to his investors. So people are in the dark about their investment, when it might be profitable, and how profitable it might be - while at the same time watching others profit immediately.

Ouch, right?