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

[finlof]

The loyalty here is both insane and totally unjustified.

Explain or no it isn't.

other statements that zumzero's argument works with:

1. the earth is round
2. the sky is blue
3. a day is comprised of 24 hours
4. my hairline is receding
and my personal favorite:
5. Activemining is the creator of a revolutionary software technology, aka intellihash, and is a viable company

[LorenzoMoney]

bean2012,

What in H*LL do you mean by that threat? What do you mean by "it could possibly turn out bad legally for Ken".  Are you threatening a law suit? What are you planning? What do you know that you are not sharing?

Ken only wants us all to do well and make money, is it his fault there were some delays and technical problems? You cannot fault him or send him to federal prison, or report him to the SEC for that.

You just watch it, mister, and be careful about you and what you threaten. Ken will come through, and you need to keep your pessimistic, dark, negative comments to yourself.


Isn't that right, Ken?

Ken?  KEN!?!?!?!?!

Isn't that right? You WILL come through and ARE working on an exchange and on getting the eASIC chips onto boards and up and running, right?

The loyalty here is both insane and totally unjustified.

Explain or no it isn't.

Ken makes Labcoin and Butterfly Labs PR look pristine.

I've written off this investment as a loss.  If Ken proves otherwise great, but I'm not going to blindly cheer when all we have seen is promises, vague timelines, and no proof whatsoever of claims.

No different than Labcoin in my opinion and could possibly turn out bad legally for Ken. Silence to shareholders is not very smart.  Putting out fluff press releases with no real substance or proof is still silence in my opinion.

[toastee]

I can't tell what is sarcasm and what isn't in this thread anymore

[lobbes]

The loyalty here is both insane and totally unjustified.

Explain or no it isn't.

The very second this comes online for trading again, almost all shares will be dumped instantly, and 50% or more wont get out any higher than half of what they're planning. Ken will not keep his word on the guaranteed .0025. It will be a nasty feeding frenzy as more savvy investors manipulate the minds of the less wise ones here on the forums and in the chat boxes just so they can cash out as high as possible.

This company has missed every deadline it set, been non-responsive, and failed to produce any product, and yet you guys keep coming back for more - some of you actually get offensive towards people trying to actually help you out.

It's very odd, and could very well be the first case of digital stockholm syndrome here in the cryptocurrency world.

What deadlines are you referring to?  You can't mean the deadline he just made for the most significant news announcement to date can you?

Personally I can't see a nasty feeding frenzy happening, and I only need to judge that from having read so many bullish posts since the announcement.  

When you say that Ken will not keep his word about the 0.0025, do you mean he will betray us, or do you think he will try but fail?

 Why say the company has failed to produce any product when Ken just stated that first products were shipped last week?

Where are you getting your information? Do you know something that we don't or are you simply mistaken?

Come on, Zum, you know he's referring to the delay in chips with regards to not meeting deadlines. Although you are right that Ken has at least stated that first products HAVE been shipped. Have there been any confirmations from customers who have received their orders? [Not trying to troll I just genuinely want to know]

[LorenzoMoney]

Ken just wants you all to succeed and be rich and you turn on him!


Am >>I<< going to be the only one who visits him in Federal Prison?

After all he has done for you all, would you all betray and abandon him like that?[/size]

-->Not sarcasm: serious annoyance at the fair weather friends of Ken. When Ken promised riches you were all there for him. Now that he is having trouble with Ukyo, and is suing people, and can't get the prototypes working, and eAsic is smoking up his nethers, you all just attack and attack!  Is that right???

Obviously, Ken needs our help, he needs my help. Buy 10,000 shares of ActM from me for 11.7 bitcoin and that will give me enough money to buy an airplane ticket to Missouri to spend time helping Ken with some project management.



http://www.youtube.com/watch?v=acXfUGO1f5c

[redbeans2012]

No I'm not threatening legal action.  I wouldn't know how to do it, and have better things to do.  I took a risk and lay the blame on myself. I just fear that people might not think like me and form together as patience wears thin.  Like you see Ken doing with UKYO.

Keeping shareholders informed weather good or bad is all you need to do. Simple

[zumzero]

The loyalty here is both insane and totally unjustified.

Explain or no it isn't.

The very second this comes online for trading again, almost all shares will be dumped instantly, and 50% or more wont get out any higher than half of what they're planning. Ken will not keep his word on the guaranteed .0025. It will be a nasty feeding frenzy as more savvy investors manipulate the minds of the less wise ones here on the forums and in the chat boxes just so they can cash out as high as possible.

This company has missed every deadline it set, been non-responsive, and failed to produce any product, and yet you guys keep coming back for more - some of you actually get offensive towards people trying to actually help you out.

It's very odd, and could very well be the first case of digital stockholm syndrome here in the cryptocurrency world.

What deadlines are you referring to?  You can't mean the deadline he just made for the most significant news announcement to date can you?

Personally I can't see a nasty feeding frenzy happening, and I only need to judge that from having read so many bullish posts since the announcement.  

When you say that Ken will not keep his word about the 0.0025, do you mean he will betray us, or do you think he will try but fail?

 Why say the company has failed to produce any product when Ken just stated that first products were shipped last week?

Where are you getting your information? Do you know something that we don't or are you simply mistaken?

Come on, Zum, you know he's referring to the delay in chips with regards to not meeting deadlines. Although you are right that Ken has at least stated that first products HAVE been shipped. Have there been any confirmations from customers who have received their orders? [Not trying to troll I just genuinely want to know]

There is a difference between missing a payment and defaulting on a loan.  I think we need to keep this in perspective.  Ken has not missed every single deadline at all.  He made the decision to delay the chips because in the long run it is better to have an improved product which out performs the original rather than rush to market with a sub par product which will have a much reduced useful lifespan. 

[hobbymd]

The loyalty here is both insane and totally unjustified.

Explain or no it isn't.

The very second this comes online for trading again, almost all shares will be dumped instantly, and 50% or more wont get out any higher than half of what they're planning. Ken will not keep his word on the guaranteed .0025. It will be a nasty feeding frenzy as more savvy investors manipulate the minds of the less wise ones here on the forums and in the chat boxes just so they can cash out as high as possible.

This company has missed every deadline it set, been non-responsive, and failed to produce any product, and yet you guys keep coming back for more - some of you actually get offensive towards people trying to actually help you out.

It's very odd, and could very well be the first case of digital stockholm syndrome here in the cryptocurrency world.

What deadlines are you referring to?  You can't mean the deadline he just made for the most significant news announcement to date can you?

Personally I can't see a nasty feeding frenzy happening, and I only need to judge that from having read so many bullish posts since the announcement.  

When you say that Ken will not keep his word about the 0.0025, do you mean he will betray us, or do you think he will try but fail?

 Why say the company has failed to produce any product when Ken just stated that first products were shipped last week?

Where are you getting your information? Do you know something that we don't or are you simply mistaken?

Come on, Zum, you know he's referring to the delay in chips with regards to not meeting deadlines. Although you are right that Ken has at least stated that first products HAVE been shipped. Have there been any confirmations from customers who have received their orders? [Not trying to troll I just genuinely want to know]

There is a difference between missing a payment and defaulting on a loan.  I think we need to keep this in perspective.  Ken has not missed every single deadline at all.  He made the decision to delay the chips because in the long run it is better to have an improved product which out performs the original rather than rush to market with a sub par product which will have a much reduced useful lifespan. 

I guess nothing worries you   

[zumzero]

I'm worried about the potential long term damage to share price if this thread is allowed to go unchecked.

[canth]

a 20% increase in hash power is what, 1 week worth of difficulty increase?  I don't understand the purpose of delaying a product in order to gain a 1 week advantage.  Can someone explain this to me?

I presume that the delay is unrelated to the 20% increase. In an ideal world, we would be on time + a 20% increase in hash power. Hell, KNC was more or less on time and they had a 20-25% increase in hash power from the 400GH they sold.

[hobbymd]

are you serious?!?

 I don't see how can It be damaging IF ken would have come out and showed something to us investors who wants to believe that everything is on track.  So in a way is the Ken's responsibility to come out and clear out the fud.


while I'm at it I say this as well....

hey ken to just put the things into perspective for you here, I'll give you a simple example of how some of us investors feels about you.

We all know how you have 106 or so coins stuck in bitfunder/Ukyo and how you been trying to get those coins back for weeks and how frustrating/time consuming has been for you so far?!! how does it feel to be in that position?!!

 guess what...... some us investors feels this way about you     

 we still can't a definitive time/date for when we have our mining farm up and hashing!!! IT IS STILL UNDER NDA or what?! 

 all we get is promises on top of promises for months and months . Maybe time has come for the concerned investors to send a reporter directly to eASIC and ask them about the progress??? maybe they might be more honest and open about it than you . All  in all sad state affairs . I see investors picking up their pitchfork one by one as we edge closer to end of this year.

[knybe]

Heck there's a chance I might be in the San Jose area next week, maybe I should pick up the phone and make an appointment with Niall Battson of eASIC…

Sure would like a field trip tour of the facilities.

[Bargraphics]

Heck there's a chance I might be in the San Jose area next week, maybe I should pick up the phone and make an appointment with Niall Battson of eASIC…

Sure would like a field trip tour of the facilities.

I will be flying into San Jose on the 13th for the weekend, let me know if you get that tour!

[knybe]

Heck there's a chance I might be in the San Jose area next week, maybe I should pick up the phone and make an appointment with Niall Battson of eASIC…

Sure would like a field trip tour of the facilities.

I will be flying into San Jose on the 13th for the weekend, let me know if you get that tour!

It's highly improbable but worth a shot…

[shaofis]

AMC is in an excellent position with the rise in Bitcoins this last month.  As of this date at the current price of Bitcoins we have over 2.3 Million in liquid assets, this includes Bitcoins, Cash from VMC, and  AMC purchased ActiveMining shares. During the time since the IPO, AMC has paid out all of the revenue from the Avalons which is a total of 667.22167902 BTC ( $812,676.01 ) USD including the accumulated dividends to be paid out when all the shares are moved to a new exchange.  Also, AMC has added additional hashing power from our Klondikes.  AMC expects to use its Intellihash technology to increase its revenue with its existing machines until its eASIC designed chip is in full production.

Anyone care to guess how many shares Ken purchased from who and and what cost? I'm sure there are many others on here who'd like their shares re-purchased.... just saying.

[neilol]

AMC is in an excellent position with the rise in Bitcoins this last month.  As of this date at the current price of Bitcoins we have over 2.3 Million in liquid assets, this includes Bitcoins, Cash from VMC, and  AMC purchased ActiveMining shares. During the time since the IPO, AMC has paid out all of the revenue from the Avalons which is a total of 667.22167902 BTC ( $812,676.01 ) USD including the accumulated dividends to be paid out when all the shares are moved to a new exchange.  Also, AMC has added additional hashing power from our Klondikes.  AMC expects to use its Intellihash technology to increase its revenue with its existing machines until its eASIC designed chip is in full production.

Anyone care to guess how many shares Ken purchased from who and and what cost? I'm sure there are many others on here who'd like their shares re-purchased.... just saying.

Ken had ~98k that were personal shares. If I recall ~600k shares went over to CryptoStocks for a short time - unclear if those were a large investor, AMC treasury shares, or both. Either way, if there was a share repurchase going on, we should have known about it.

[Vigil]

If anything, all this talk is going to make Ken hate the shareholders.

[Vigil]

^ Not what I said. But we can express concern without throwing around lawsuit comments and everything else, unless you really think Ken is up to no good... I don't think that is the case.

[shaofis]

Ken had ~98k that were personal shares. If I recall ~600k shares went over to CryptoStocks for a short time - unclear if those were a large investor, AMC treasury shares, or both. Either way, if there was a share repurchase going on, we should have known about it.

Personal shares would not be listed as ActM's liquid cash.

[bigdude]

Someone contacted me about purchasing some of my shares.

All sales offers will be anonymous until sales contracts are signed by both parties.

The offer was for a partial number of the shares being offered.

Here is my response to the offer and in addition, this is an offer to anyone else who is interested in buying lots of 20,000 shares from me.

--------------------------------------------------
Thank you for your kind offer of buying 13800 shares.
The only sized lot that if being offered is 69000 shares.
Nothing smaller. (Note: since writing that, I have decided that I will sell lots of 20K shares at a price of 0.0016 per share.)
The only accepted price for that lot of 69000 shares is 100 bitcoin.
Ken is not able to actually implement any trades.
The escrow person whom I would trust would be Kleeck. If there is someone else whom you would prefer, please suggest him or her and we can talk about it.

The way I propose doing this is you and I talk to Kleeck. Kleeck is generally well known on the irc channel and on the thread as level headed and sober and balanced. You and I write up a formal contract. We both sign the contract using our public bitcoin addresses. We then create a thread on Bitcointalk where we post the sales contract and the bitcoin verification hashes of the contract.

By doing that, it makes our trade public and forces me to uphold my end of things. You send me the bitcoin and the moment there is a public exchange, Kleeck monitors that I transfer the shares to you.

In our contract, we put terms together for what happens if Ken never opens an exchange, if ActM totally fails and if I fail to follow my end of the agreement. I will privately provide you with all my personal contact information so that you have a means of addressing any legal satisfaction should you feel that I have not upheld my end of the deal. If you send me the bitcoin, I will be totally transparent to you so that you will be able to identify me and be able to take me to court. On transfer of the shares, I will ask you to use bitcoin to sign a release saying that you are satisfied with the transaction.  I will also ask that we both sign a bill of sale in hard copy and fax it to each other or send it in PDF.

Also, I will ask that a small fee be paid to Kleeck, by both of us, to be agreed to in the sales contract for his escrow services to be paid upon completion of the sale. Really, the seller, me, should pay the escrow, but by us both paying, it insures that the escrow will be unbiased.

 Since there is a possibility that Ken and ActM might fail, that has to be written into our sales contract. There also is the possibility that the price of ActM shares will go up should an Ken get the shares to an exchange, so the contract should obligate me to transfer the shares to you regardless of what the value is after you send me the bitcoin. The way to guarantee that and reduce your risk is for me to sign a contract that would be binding in the courts of law in both the US state where I live and the place where you live.

I would consider small lots than 69000, but only at a higher per price share than 0.001449275
per share.

So what happened to our agreement LorenzoMoney that we made on IRC and then continued via emails?

We already had an agreement, and were working out the transfer/escrow side.

You just walked away, say nothing, start making new offers?