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

[zumzero]

finfloss, your garbled post is very difficult to understand.  Might I request you re-submit or edit it so it becomes clearer.  Perhaps you could punctuate it and reduce the wall of text into clear and concise points you wish addressing.  Also, if you are going to criticize others methods, please stop contradicting yourself by following suit.

Why invest in any security if there is a chance the CEO could run away with shareholders money?  This argument of VE's is lame.  It has no substance and is an attempt to undermine Ken's credibility once again which is falling on deaf ears.

where is Ken's credibility?  has he shown/given you all the answers to these questions we've been asking?  

Might I remind you that a person's credibility is not based solely on their propensity to reveal commercially sensitive information.   Remember 'Loose lips sink ships'.

While most would agree, Ken has not been forthcoming with information and has been selective in which questions he answers, however he shows up on this forum regularly to do more than delete posts.  He is also very good at replying to pm's.  So why not give it a try, pm Ken with valid questions and report back to us his responses rather than attacking his character and general mud slinging.

[drawingthesun]

Ken's credibility and ActiveMining's credibility are really in limbo until November. Once we start chewing through November Ken's reaction to eASIC or lack of eASIC chips will determine his character and resolve.

Until eASIC make their move Ken cannot show his colors.

[zumzero]

I disagree. There are only two days left before Ken reaches the end of October deadline.  He has to submit the P&L statement and balance sheet before the start of November otherwise he damages his reputation in my opinion.

[Puppet]

We're probably not yet on their radar, but I don't see the SEC as being our friends here. Unless they come up with some new, more relaxed regulations then they are going to suffocate the Bitcoin securities market because of a high cost of compliance.

Yes, we are on there radar, as they have talked to Ukto about us last month.  I sent Ukto our Belize documents so he could send them to the SEC.

No one picks up on this? SEC going not only after exchanges, but asset issuers .
Ken, do you have any insights on your own legal liability? Would the SEC consider it the exchange fault for targeting unsophisticated (US) investors, or yours too?

[stereotype]

We're probably not yet on their radar, but I don't see the SEC as being our friends here. Unless they come up with some new, more relaxed regulations then they are going to suffocate the Bitcoin securities market because of a high cost of compliance.

Yes, we are on there radar, as they have talked to Ukto about us last month.  I sent Ukto our Belize documents so he could send them to the SEC.

No one picks up on this? SEC going not only after exchanges, but asset issuers .
Ken, do you have any insights on your own legal liability? Would the SEC consider it the exchange fault for targeting unsophisticated (US) investors, or yours too?

Wow Puppet. Was is it with you, and the SEC? Weeks of it, everywhere. Why the fear?

[shaofis]

I'll be honest I don't know a thing about stocks....

If the shares issued by ActiveMining are not actual ownership shares of the company... why is it that the SEC would care? I thought the shares granted only a return on the bitcoin mined by the organization as well as a portion of sales. I'm curious if there is a distinction between partial ownership and just getting a bitcoin disbursement.

It's probably to late now... but if there is a difference... perhaps calling it something other than a security or a stock might be a good idea?

[drawingthesun]

Lol, you're late to the party.  It's not a company, it's a "virtual identity."  You're not buying stocks, you're buying "virtual shares" according to Burnside of BTCT (also of Belize, currently defunct), and heaven-knows-what according to Bitfunder (of heaven-knows-where, soon to be defunct amidst wailing and gnashing of teeth).

If you push unregistered shares on unlicensed exchanges, it doesn't matter what you call it -- the courts call it crime.

Sure the shares are registered, in Belize.

[minerpart]

Hey finlofs I guess you haven't been round here long. Everything in your rambling post has been gone over time and time again. You are repeating yourself like a mad man. Read page one, then take a chill pill. Alternatively sell your shares the stress is killing you. lol

[drawingthesun]

No.  The "virtual identity" has some sort of paperwork in Belize.  The shares are unregistered. 
Registering an LLC doesn't automatically allow you to trade it.  Otherwise every hicktown yokel would be funding some monorail project

It really depends on what you mean by trade. I am able to set up a LLC today and sell the shares to other people for investment capital. My friend has done this and its completely legal. What you are probably talking about is offering the shares to the public and you are right, doing this in most jurisdictions is illegal.

However we have the new crowdfunding law coming into effect that will hopefully allow for an easier pathway to legitimate small time public share offerings.

[knybe]

I see the churning circle of FUD continues...

[minerpart]

Churning circle is right, this Belize issue has been gone over what 15-20 different times already. Give us a break.

[SebastianJu]

All of our Klondikes have been received and we are in the process of getting them up and hashing.

We expect that each Klondike will hash at ~5 GH/s for a total of ~340 GH/s increasing our total hashing power to ~770 GH/s.

Of course, this is not what we expected by this time to be hashing after we ordered 20,000 Avalon chips @ 5.64 TH/s which did not arrive at the stated time and had to be refunded.

Thanks for the info but please say something about the real target of this security. I mean you cant be sued for vague info. And i even dont see how someone could sue you for saying that in week x you probably will be able to start mining with x TH.

[kslaughter]

We're probably not yet on their radar, but I don't see the SEC as being our friends here. Unless they come up with some new, more relaxed regulations then they are going to suffocate the Bitcoin securities market because of a high cost of compliance.

Yes, we are on there radar, as they have talked to Ukto about us last month.  I sent Ukto our Belize documents so he could send them to the SEC.

No one picks up on this? SEC going not only after exchanges, but asset issuers .
Ken, do you have any insights on your own legal liability? Would the SEC consider it the exchange fault for targeting unsophisticated (US) investors, or yours too?

We are working with our Lawyers on these points, of which one of our lawyers has worked at the SEC.

[zumzero]

I think transparency and co-operation are key.  Let's be open and work with these people then we have little to fear.

[finlof]

Hey finlofs I guess you haven't been round here long. Everything in your rambling post has been gone over time and time again. You are repeating yourself like a mad man. Read page one, then take a chill pill. Alternatively sell your shares the stress is killing you. lol

I guess when someone asks real questions you call it rambling.  guess we differ on that.  and i've read page 1, not only of this thread, but the original threads, and every page of each of those threads.  we've had a few spurts of some information, but when was the last time there was anything real or substantial released?  i know there was the eAsic release.  that is good news.  but what else?

listen i've got 10 shares (apparently someone on cryptostocks sold me 2 more overnight), which means i've got no stress.  but just because i have no stress doesnt mean if i see a guy struggling i wouldnt try to help him.  i would speculate you, on the other hand, probably are much more deeply invested.  i know yall like to point out icebreaker's bad trade he made by turning 120k icedrill shares into a sierra, but at least he turned his "worthless" shares into something.  we know that zumzero has 700000 shares,

700,000

so it's obvious why he champions ACtM (he has to because if he were to think that he couldnt get his money back he would probably have killed himself by now)  since even if he were about to buy all of those shares at the lowest possible price (was it 0.0005 btc?) then that would be 350btc which is worth around $70k right now, and i HIGHLY doubt he only spent 350btc acquiring those shares.  but what about you?  how heavily invested are you for you to overlook the "rambling" that "has been gone over time and time again", AKA real questions about the status of this company etc?  and you know, ACtM doesnt have the corner on the market of a stock that is worth 1/10th of what it was in its glory days.  look at ASICMiner. a solid company built on delivering equipment without preorders, a fairly steady dividend stream, and not-so-great (but better than ACtM) communication.  it's also currently selling for close to 10% of its high.  and it also doesnt have a website (ACtM website has come a LONG way from the beginning days though).  difference - we know they deliver.  we know they have a decent pile of cash and BTC saved up.  we know they are working on a few different projects.  do they give all the info everyone requests?  No.  do they respond to every post in their thread asking questions?  No.  but when a post is made it at least has some substance to it.  Ken could do (and is doing) waaaay worse than trying to emulate Friedcat's company.

*edit - fixed a couple of posting mistakes

[zumzero]

finfloss,  I bought into AMC when shares were 0.0005 and back then there was REAL risk of it being a bad investment.  That was the appeal.

That tells you something about my investment strategies.  If I was willing and happy to invest in something that was, at that time being called, yet not proven not to be a scam, then it goes without saying I am still happy to be invested provided I believe in the business.

I was always in it for the long run and have, and still am, happy to ride the peaks and troughs.

I am still very confident about ActM's future and have no intention of selling any of my shares.

EDIT: and what if someone was invested in AM and turned 35btc into 350btc and those 35btc were purchchased under $50?

ANSWER:  $1,750  

[kleeck]

Hey finlofs I guess you haven't been round here long. Everything in your rambling post has been gone over time and time again. You are repeating yourself like a mad man. Read page one, then take a chill pill. Alternatively sell your shares the stress is killing you. lol

...
i know yall like to point out icebreaker's bad trade he made by turning 120k icedrill shares into a sierra, but at least he turned his "worthless" shares into something.
...  

You do realize that is Sierra is officially worthless? His best bet was to get it inside of October, which did not happen.

http://mining.thegenesisblock.com/a/854deda93a

His grand investment turned out to be just as good as ours.  Except we have ventures like ActiveExchange and future models to potentially profit off of.

[minerpart]

so it's obvious why he champions ACtM (he has to because if he were to think that he couldnt get his money back he would probably have killed himself by now)

You really need some help young man. You are rambling again and clearly unhinged and talking about suicide.

I know zero has 700k and good for him, that's super cool. I am a bigger investor than that actually thanks for asking.

You shouldn't try so hard to help us out, I mean thanks and everything for the concern but your posts just give me a headache!
See you around.

[Bargraphics]

We're probably not yet on their radar, but I don't see the SEC as being our friends here. Unless they come up with some new, more relaxed regulations then they are going to suffocate the Bitcoin securities market because of a high cost of compliance.

Yes, we are on there radar, as they have talked to Ukto about us last month.  I sent Ukto our Belize documents so he could send them to the SEC.

No one picks up on this? SEC going not only after exchanges, but asset issuers .
Ken, do you have any insights on your own legal liability? Would the SEC consider it the exchange fault for targeting unsophisticated (US) investors, or yours too?

We are working with our Lawyers on these points, of which one of our lawyers has worked at the SEC.

As November creeps closer,

We need some kind of substantial information.

I understand this has been said before but we are past certain ambiguous deadlines that were imposed.

I imagine all Sales Revenue is going straight into these Lawyers/Engineering/New Trading Platform which will likely leave little for dividends once and if you do begin shipping (Being realistic here guys)

There's no volume right now, you can't possibly spike Shares by providing decent information now.

Estimate timelines cannot be under the NDA you signed this much is true at the very least.

[SebastianJu]

Estimate timelines cannot be under the NDA you signed this much is true at the very least.

And even if they were... wheres the problem speaking with eASIC and negotiate what can be released to shareholders now? The NDA is between those two only. So they can say what can be released.
I mean eASIC is having its trust in the game too. Waiting time without info is not good for anything.