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

[drawingthesun]

If we were to make guesses as to where we were on the timeline, would we be at the "low volume chip production" phase right now?  As in the extra hashing power we received recently was from low volume chip production as opposed to sample chips?

Whenever I bring this up I get called a FUDster or something.

I am sure we were meant to have the low-production run about 2 weeks ago now, having the prototype at the beginning of November. And no, the hashing power only adds up to 2TH/s MAX (it's a lot lower), that is 700GH/s from the old miners and around 1TH/s from the prototype.

I expect the low-production run to give us between 2TH/s and 8TH/s, this would bring in about 5 bitcoin per day.

So we are still barely hashing and are way behind. We are now entering December with half our hashpower still being Klondikes and Avalons.

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[kleeck]

Ken,

IceDrill has done a very good job at verifying everyone based on Bitfunders Address List

https://icedrillasic.appspot.com/

You log in using your google accounts (easy)

You then sign a message with the BTC Address that has your shares on it in Bitfunder

The website verifies the signed message and looks at bitfunder and claims your shares on the website so everything is 100% automatic and verified. Perfectly ready for Direct Shares and Trading come Dec 2nd Bitfunder shutdown.

I know that most of us tendered shares to you but this is a good model to look at. Kudos to the IceDrill team for the website which is in their control contrary to who they purchased equipment from hah.

I'm going to have to jump in here one last time and agree with this.  I am surprised that ActM is not using this solution.  It eases the mind of investors and I am no longer worred about my icedrill shares.  My Act shares, however are sitting in someone elses bitfunder account.

+1 for the simplicity and ease of use for the icedrill website. I will say however that icedrill has less to worry about considering that the are operating a simpler business than one which designs and manufactures mining equipment.

Ken - how about shedding some light on when you plan to have ActM shares on exchange or in use for a colored coin solution? I'm more interested in having a trade or transfer solution, but if we're not getting that anytime soon, we at least deserve a method for confirming our ownership.

Ken did recently share with me that we are slated to be on a new, centralized, exchange once transfers complete. This is an intermediary step, as a decentralized solution is the end goal. I'll shoot him a PM so he can officially address this. (I'd quote him but it was via IRC and I don't have a log.) He did not say what exchange he was working with, but the exchange was ready to create accounts/move shares, so it should all happen quick once it happens.

[Nootnewbie]

If we were to make guesses as to where we were on the timeline, would we be at the "low volume chip production" phase right now?  As in the extra hashing power we received recently was from low volume chip production as opposed to sample chips?

Whenever I bring this up I get called a FUDster or something.

I am sure we were meant to have the low-production run about 2 weeks ago now, having the prototype at the beginning of November. And no, the hashing power only adds up to 2TH/s MAX (it's a lot lower), that is 700GH/s from the old miners and around 1TH/s from the prototype.

I expect the low-production run to give us between 2TH/s and 8TH/s, this would bring in about 5 bitcoin per day.

So we are still barely hashing and are way behind. We are now entering December with half our hashpower still being Klondikes and Avalons.

If each chip hashes at 16,000 Mhz, then I think that it may make sense that we're at low production.  This would mean that we'd have approximately 1000 chips at this point right?  That would seem more than just sample chips.

[drawingthesun]

If each chip hashes at 16,000 Mhz, then I think that it may make sense that we're at low production.  This would mean that we'd have approximately 1000 chips at this point right?  That would seem more than just sample chips.

No. At the moment we have 1TH/s divide 16GH/s = 62 chips.

If we are at low-production then based on your 1000 chips we would be hashing at 16TH/s (Twice my estimate by the way)

So again no, we are hashing at perhaps 62 - 100 chips. And if that is the low-production run, then we are in trouble. I hope that is just the prototype.

[wasubii]

Does the 16GH/s guestimate come from some kind of rough calculation? If so, based on what premises?

If it is plucked out of the air then il go back to lurking and let the rest of you FUD it out

[somestranger]

Does the 16GH/s guestimate come from some kind of rough calculation? If so, based on what premises?

If it is plucked out of the air then il go back to lurking and let the rest of you FUD it out

Seriously? Post #1

Our chips in development
Generation 1: Fast-Hash. 28nm. Each chip's rated frequency is 800 MHz at 1.15V. It translates to 16,000 MH/s because it does 20 hashes per cycle. Chip requires proper handling of heat and power supply. It is expected the chip can be overclocked to 1000 MHz @ 20,000 MH/s.
eASIC Press Release

Why did you invest if you know nothing about the company?

[Nootnewbie]

If each chip hashes at 16,000 Mhz, then I think that it may make sense that we're at low production.  This would mean that we'd have approximately 1000 chips at this point right?  That would seem more than just sample chips.

No. At the moment we have 1TH/s divide 16GH/s = 62 chips.

If we are at low-production then based on your 1000 chips we would be hashing at 16TH/s (Twice my estimate by the way)

So again no, we are hashing at perhaps 62 - 100 chips. And if that is the low-production run, then we are in trouble. I hope that is just the prototype.

Thanks for the clearup

[wasubii]

Does the 16GH/s guestimate come from some kind of rough calculation? If so, based on what premises?

If it is plucked out of the air then il go back to lurking and let the rest of you FUD it out

Seriously? Post #1

Our chips in development
Generation 1: Fast-Hash. 28nm. Each chip's rated frequency is 800 MHz at 1.15V. It translates to 16,000 MH/s because it does 20 hashes per cycle. Chip requires proper handling of heat and power supply. It is expected the chip can be overclocked to 1000 MHz @ 20,000 MH/s.
eASIC Press Release

Why did you invest if you know nothing about the company?

Thanks for pointing that out.

Actually I have been around since the beginning and know as much about the company as the more vocal shareholders in this thread - But it has been many many months and four different threads since I read the IPO statements from beginning to end, so forgive me if this one slipped my mind in the torrent of disinformation and speculation.

I find it hard to sniff out the unsubstantiated claims from the fact, whether it is coming from one of the cult-like happy-clappy die-hard cheerleaders or from one of the trolls - sometimes its hard to tell the two apart.

This would all be put to rest if Ken gave us some information - and i don't mean chip info that is covered by the NDA but merely some info about boards, power supply, WIP, cash in hand etc. That should all be known by shareholders at this stage.

I hope the NovemberAnnouncement^TM will help clear things up.

EDIT: Punctuation

[kactech]

I think that best thing now would be to create, even by hand, colored coins transaction, send outputs to BF addresses and start paying dividends on specified chain heights. CC client, ActM price and VMC attention will follow this soon.

[deizel]

I am sure we were meant to have the low-production run about 2 weeks ago now...

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)

Just to point out to everyone who keeps saying it.. the second half of November is not the same as "mid-November".

Unless we have new information, "on schedule for second half of November" is not "about 2 weeks ago now"

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.

September 19 + 9 calendar weeks (including public holidays and weekends) = Thursday, November 21, 2013
September 19 + 9 working weeks (excluding public holidays and weekends) = Friday, December 20, 2013
_{(Excluding 13 Saturdays, 13 Sundays and 3 US public holidays - Columbus Day, Veterans Day and Thanksgiving Day)}

If the 8 planets have aligned, maybe we received something on Thursday. Otherwise, please be realistic and stop making up dates.

At no point did I read that we would be hashing with prototypes right now, but do point out if I missed something.

I hope the NovemberAnnouncement^TM will help clear things up.

^^

[Technologov]

I have seen, that Active mining is traded on crypto stocks.
Anyone knows about this platform?
Are those stocks official?

[Sou]

I have seen, that Active mining is traded on crypto stocks.
Anyone knows about this platform?
Are those stocks official?

This information is in the thread.

[stenkross]

Unless we have new information, "on schedule for second half of November" is not "about 2 weeks ago now"

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.

September 19 + 9 calendar weeks (including public holidays and weekends) = Thursday, November 21, 2013
September 19 + 9 working weeks (excluding public holidays and weekends) = Friday, December 20, 2013
_{(Excluding 13 Saturdays, 13 Sundays and 3 US public holidays - Columbus Day, Veterans Day and Thanksgiving Day)}

If the 8 planets have aligned, maybe we received something on Thursday. Otherwise, please be realistic and stop making up dates.

At no point did I read that we would be hashing with prototypes right now, but do point out if I missed something.

I hope the NovemberAnnouncement^TM will help clear things up.

^^

Why are you using september 19'th as date?
AcTM reached it's funding goal to provide funds for the NRE on July 19th.

ActiveMining: Reaches Its Goal to Fund The NRE to Create the Worlds Fastest Bitcoin Mining Chip

SPRINGFIELD, MO, - July 19, 2013 - Active Mining (AM) and Virtual Mining Corporation (VMC) are announcing today that they have reached their funding goal to provide funds for the NRE required by eASIC.  VMC is in the process of creating the  "World's Fastest Bitcoin Mining Chip"  the Fast-Hash-One 28nm 16 GH/s chip. The Fast-Hash-One machines starts at 256 GH/s with a retail price of $3,999 or $15.62 per GH/s also making it the price leader in the market place. The Fast-Hash-One series of bitcoin mining machines are  "The Gold Standard Of Bitcoin Mining Machines"™

So, you are saying that it took exactly 2 months (July 19 --> September 19) from the time that he got the BTC's to pay eASIC the $1M USD?
I do recall that it took some time to get out the BTC's and convert them to USD etc, but 2 months?
Wow!

[sparky999]

Pretty sure Ken already clarified that post from the Sept 19th was not when the timelines stated started.

[Sou]

Pretty sure Ken already clarified that post from the Sept 19th was not when the timelines stated started.

He did, but people show up uninformed then start throwing out opinions.

[drawingthesun]

Pretty sure Ken already clarified that post from the Sept 19th was not when the timelines stated started.

You're right. What is happening is the shareholders are in denial that we are very much behind schedule.

Ken has said that the future dates in that post are not from the date that post was created.

I will say this again and again and again; we are behind schedule. It's not helping the situation when the worshipping shareholders start spreading misinformation.

Why would the eASIC NDA be so strong that Ken can't even tell his investors if the company is on track? We are left with two options:

1 - Ken has made the decision not tell us anything, or...

2 - eASIC need a strong NDA because the 28nm is experimental and they have not delivered this new product to any client yet, and knew that delays were possible. The strong NDA is to stop negative press forming from angry clients.

I personally believe option 2 is the case and have voiced this opinion before, only to be called a "FUDster".

[finlof]

You're right. What is happening is the shareholders are in denial that we are very much behind schedule.

Ken has said that the future dates in that post are not from the date that post was created.

I will say this again and again and again; we are behind schedule. It's not helping the situation when the worshipping shareholders start spreading misinformation.

Why would the eASIC NDA be so strong that Ken can't even tell his investors if the company is on track? We are left with two options:

1 - Ken has made the decision not tell us anything, or...

2 - eASIC need a strong NDA because the 28nm is experimental and they have not delivered this new product to any client yet, and knew that delays were possible. The strong NDA is to stop negative press forming from angry clients.

I personally believe option 2 is the case and have voiced this opinion before, only to be called a "FUDster".

there are only a few shareholders that are in denial.  unfortunately they are the loudest and act as bullies would and try to silence any real questions and requests for more info.  comical, but also very sad.

[zumzero]

To be able to say with certainty that we are behind schedule you need to have possession of that schedule.

We have never been privy to Ken's schedule and that's for the best.

vbs stopped updating his spreadsheet months ago however if you used that to form the assumption that we are behind schedule then I would have to agree with you.

[kleeck]

To be able to say with certainty that we are behind schedule you need to have possession of that schedule.

We have never been privy to Ken's schedule and that's for the best.

vbs stopped updating his spreadsheet months ago however if you used that to form the assumption that we are behind schedule then I would have to agree with you.

We are behind schedule. I believe that is clear. The good news is: So is the competition.

With the rise in Bitcoin value, it doesn't matter as much to us now. Not to sound calloused, but I don't care much about ActM customers. If they get their miner before the end of year they'll make a nice profit. I don't want to see us miss any promised deadlines, but that's about it.

I want to see hashing power for ActM, ASAP - and so do you!

[stenkross]

If Ken fails to deliver within next few days, he has promised to refund the customers.
I wonder if this might be a problem?

3) What happens if you cannot deliver my miner by October/November as stated on your website? Will I get a refund in this case?

Yes, we will give refunds if we can not deliver on time.