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

[Vigil]

You guys can argue figures all you want with your fancy percentages, but at the end of the day there's going to be more dividends flowing into shareholders wallets than all the mail in crumbs' bitcointalk inbox.

** A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted. **


*super lolz*

Its going to be nice looking back on all this on that day.

[Jasun7211]

Just a thought why chips may be delayed industry wide.   I know I have personally expierenced the shortage in silver myself.

http://beforeitsnews.com/gold-and-precious-metals/2013/12/silver-set-to-double-according-to-apple-2561510.html

[Ozymandias]

So one update and the clouds are gone again? And in 3 days its back to old right? Its so easy to move atmosphere in here.

Whats your bet on the valuation of shares on crypto-trade? Where will it settle after some days?

This is quite clearly not a scam anyone who really thinks that is insane. A scammer does not pay out $500k+ in dividends.

You obviously never heard of ponzis. The business model is to promise some percent per week. The
issuer then starts to pay out pennies until people believe him. At one point he stops paying out and keeps what he has. Pirateat40 did it the same way.
So its a perfectly fine thing for a scam to pay out. I dont believe ActM is a scam though.

I agree in that I also don't think ActM is a scam, but it's especially not a ponzi. A ponzi is built on paying a little out to encourage more to be put it (to the ponzi-runner's pocket), but not a dime has been collected since the latest IPO and in fact, money has been coming out and (according to the guarantee if we are to take it at face value) will continue coming out at least until the IPO funds are returned to the shareholders. I would be concerned if more money for the company was solicited (as then the ponzi definition would fit adequately well), but as far as I know, it hasn't been since July and there are no signs of it happening in the future. If this was a scam, then Ken would have been long gone by now.

[Kasaf]

So I've just come back after two months away. Bitfunder seems to have died and I missed the transfer window? Is there any way I can get my Active Mining Shares back?

[zumzero]

So I've just come back after two months away. Bitfunder seems to have died and I missed the transfer window? Is there any way I can get my Active Mining Shares back?

Most people transferred their shares to AMC-TENDER which is the BF account that Ken controls.  Accounts are being created automatically on the new exchange Crypto-Trade for these people.

He has a list of those remaining shares which were not transferred (including yours) and you will be able to confirm ownership by providing your public wallet address that you set in Bitfunder and the number of shares.

I would pm Ken for specific instructions.

[VolanicEruptor]

So I've just come back after two months away. Bitfunder seems to have died and I missed the transfer window? Is there any way I can get my Active Mining Shares back?

Most people transferred their shares to AMC-TENDER which is the BF account that Ken controls.  Accounts are being created automatically on the new exchange Crypto-Trade for these people.

He has a list of those remaining shares which were not transferred (including yours) and you will be able to confirm ownership by providing your public wallet address that you set in Bitfunder and the number of shares.

I would pm Ken for specific instructions.

Yet somehow Icedrill managed to assign shares based on the list of public addresses from Bitfunder, without any transferring to ICEDRILL-TENDER

kind of neat, huh?  Makes you really wonder WHY.

[JoTheKhan]

I think that 0.006 Buy order is gonna be removed right before shares are transferred. I think its a bait to get people to bid above .002 thinking that it's what the price should be at so someone can sell out for a reasonably decent price. Pretty smart, I doubt it will work though.

[wasubii]

Weekly Update:

We are going to try and give a weekly update on Wednesday of each week
to keep all of Investors up to date on our progress.

First, Ken will be taking all of the AMC-TENDER transaction and adding
those transactions to a database.  This database will be used to verify
your shares.  Once your shares are verified, they will added to the
queue which will be used at Crypto-Trade to create your account.  As
your account is created on Crypto-Trade the number of shares verified
will be added to your account.  If you already have a Crypto-Trade
account using the same email address used to verify your shares, then
the shares will just be added to that account.  The procedure when ready
will be posted in our Announcement the thread.

Active Mining PR Staff

This is a really great post to wake up to - i am really looking forward to receiving these updates regularly.

Could you please clarify something - you mention a queue to get the shares on to crypto-trade, does this mean that some people will have their shares available for trading before others???

I imagined we would all be given the shares, then at some point the starting gun would go off, the bells would start ringing and we would all be off in a frenzy of buying and selling - all at the same time.

If this is not the case, then how will you determine who has their shares available to trade first? i.e. how is the order of the queue decided?

If there is a long delay between the first person starting trading and the last person starting trading then this is obviously unfair to the guys last in the queue who may have missed out on the higher buy orders.

When you are back online, please clarify this - i am also sending this in a PM in case you miss it on the thread.

[Ozymandias]

I think that 0.006 Buy order is gonna be removed right before shares are transferred. I think its a bait to get people to bid above .002 thinking that it's what the price should be at so someone can sell out for a reasonably decent price. Pretty smart, I doubt it will work though.

Absolutely, when trading goes live we WILL (and you can mark my words) hit 0.0005 and probably stay there for at least a few days, maybe even a week or two. This pressure cooker has been steaming and shaking for weeks and a lot of people want to get out. And that's fine, for ideological (grr we're mad at Ken and going to sell our shares because that'll show him), practical (I kinda need some money so going to cash some out), or panic (oh god, chips don't exist, this is all a massive scam, the sky is literally falling!) reasons there will be heavy sell pressure. Over time, [assuming] more info gets released and progress is made on our chips the market will revalue our shares.

To those seeing the bids at 0.006 or the 0.012 from earlier, those are obviously joke prices [at this point in time] but that does not mean that we will never hit those levels, I fully believe we will, but it will take a few weeks. My out of the ass guess is 0.012 before the end of January 2014. No one can see the future, so I guess we'll see if the above comes to pass or if I'll be drinking alone in the dark thinking about what could have been. Here's hoping it's to the former!  

[wasubii]

Nice quick reply from Ken on this issue as below:

Hi Ken,

Im not sure if it is you or someone else posting with the PR account. I have a question that i have posted on the forum and as a PM to the PR account. I am copying it here again for your reference.

Weekly Update:

We are going to try and give a weekly update on Wednesday of each week
to keep all of Investors up to date on our progress.

First, Ken will be taking all of the AMC-TENDER transaction and adding
those transactions to a database.  This database will be used to verify
your shares.  Once your shares are verified, they will added to the
queue which will be used at Crypto-Trade to create your account.  As
your account is created on Crypto-Trade the number of shares verified
will be added to your account.  If you already have a Crypto-Trade
account using the same email address used to verify your shares, then
the shares will just be added to that account.  The procedure when ready
will be posted in our Announcement the thread.

Active Mining PR Staff

This is a really great post to wake up to - i am really looking forward dot receiving these updates regularly.

Could you please clarify something - you mention a queue to get the shares on to crypto-trade, does this mean that some people will have their shares available for trading before others???

Yes and No, we will have a time for shareholders to verify, then we will move those shares in a batch; however, there are always laggers which will get moved in the next batch.

I imagined we would all be given the shares, then at some point the starting gun would go off, the bells would start ringing and we would all be off in a frenzy of buying and selling - all at the same time.

If this is not the case, then how will you determine who has their shares available to trade first? i.e. how is the order of the queue decided?

If there is a long delay between the first person starting trading and the last person starting trading then this is obviously unfair to the guys last in the queue who may have missed out on the higher buy orders.

It really won't be that way.  There will be enough time for anyone that wants to get into the first batch to get in.

When you are back online, please clarify this - i am also sending this in a PM in case you miss it on the thread.

[JoTheKhan]

I think that 0.006 Buy order is gonna be removed right before shares are transferred. I think its a bait to get people to bid above .002 thinking that it's what the price should be at so someone can sell out for a reasonably decent price. Pretty smart, I doubt it will work though.

Absolutely, when trading goes live we WILL (and you can mark my words) hit 0.0005 and probably stay there for at least a few days, maybe even a week or two. This pressure cooker has been steaming and shaking for weeks and a lot of people want to get out. And that's fine, for ideological (grr we're mad at Ken and going to sell our shares because that'll show him), practical (I kinda need some money so going to cash some out), or panic (oh god, chips don't exist, this is all a massive scam, the sky is literally falling!) reasons there will be heavy sell pressure. Over time, [assuming] more info gets released and progress is made on our chips the market will revalue our shares.

To those seeing the bids at 0.006 or the 0.012 from earlier, those are obviously joke prices [at this point in time] but that does not mean that we will never hit those levels, I fully believe we will, but it will take a few weeks. My out of the ass guess is 0.012 before the end of January 2014. No one can see the future, so I guess we'll see if the above comes to pass or if I'll be drinking alone in the dark thinking about what could have been. Here's hoping it's to the former!  

Yeah I pretty much agree with you've said. If things go smoothly I can see people jumping the gun with rising BTC prices and bring the share way above actual valuation come January (People in this BTC investment game don't all have a concrete understanding at fair valuations of companies. Even I don't.)

At .012 I'll be hard pressed not to sell out and pay off some of these college fees. But I think we will hit a new low before we hit an ATH. I'm even ready to get in on the ground floor when we do get low ( VE didn't let me buy 10k Shares for .0001 D= ) since I've already bought the BTC for them.

[VinceSamios]

I guess I was completely spot on with this then? Since it was deleted? There was literally no other reason to delete my speculation (which I said it was) unless it was a little too accurate for comfort.

IntelliHash

I can't see how intellihash could possibly work... the only thing it possibly could be is an over-clocking utility. It cannot change a chip (Ken said it would work on avalons too), it cannot fake proof-of-work (and if it can, bitcoin is broken), so the only option is an over-clocking utility. Which would be coherent with the 20% increase quoted, as that would be about the max you could reliably overclock.

TLDR; IntelliHash is, in my judgement, an overclocking utility.

Did you read that old KnC article? They got their 30% performance boost from cgminer tweaking. If this is the case, then the delay with the chips is unrelated to the Intellihash development.

except Ken has explicitly said that the chips will be late due to alterations needed for Intellihash. He has also said that Intellihash could be a game changer for ActM, I don't thin he would use this language lightly in a formal update about the company.

Upon further review, you are correct:

Intellihash(tm)

Intellihash is our new trademark for our new Bitcoin mining software which gives up to a 20% increase in hashing speed and has the possibility to increase the speed of our mining machines as the difficulty goes up.  We have had to modify the software in our chips to make it work with our new software.  The chips are going to be late; however, our new Intellihash software could be a game changer for the company.

I don't believe I'll be talking about this on a public forum anymore in respect of Ken's wishes. I'm satisfied that Intellihash is real and will be very good for our miners.

The problem with this is kleeck, that ken also said:

AMC expects to use its Intellihash technology to increase its revenue with its existing machines until its eASIC designed chip is in full production.

That means it doesn't require chip modification. It can only be an overclocking utility.

[equipoise]

So I've just come back after two months away. Bitfunder seems to have died and I missed the transfer window? Is there any way I can get my Active Mining Shares back?

If you know your Bitfunder Public Address and it's one you could sign from you'll be just fine.

[sparky999]

I guess I was completely spot on with this then? Since it was deleted? There was literally no other reason to delete my speculation (which I said it was) unless it was a little too accurate for comfort.

IntelliHash

I can't see how intellihash could possibly work... the only thing it possibly could be is an over-clocking utility. It cannot change a chip (Ken said it would work on avalons too), it cannot fake proof-of-work (and if it can, bitcoin is broken), so the only option is an over-clocking utility. Which would be coherent with the 20% increase quoted, as that would be about the max you could reliably overclock.

TLDR; IntelliHash is, in my judgement, an overclocking utility.

Did you read that old KnC article? They got their 30% performance boost from cgminer tweaking. If this is the case, then the delay with the chips is unrelated to the Intellihash development.

except Ken has explicitly said that the chips will be late due to alterations needed for Intellihash. He has also said that Intellihash could be a game changer for ActM, I don't thin he would use this language lightly in a formal update about the company.

Upon further review, you are correct:

Intellihash(tm)

Intellihash is our new trademark for our new Bitcoin mining software which gives up to a 20% increase in hashing speed and has the possibility to increase the speed of our mining machines as the difficulty goes up.  We have had to modify the software in our chips to make it work with our new software.  The chips are going to be late; however, our new Intellihash software could be a game changer for the company.

I don't believe I'll be talking about this on a public forum anymore in respect of Ken's wishes. I'm satisfied that Intellihash is real and will be very good for our miners.

The problem with this is kleeck, that ken also said:

AMC expects to use its Intellihash technology to increase its revenue with its existing machines until its eASIC designed chip is in full production.

That means it doesn't require chip modification. It can only be an overclocking utility.

Or that the Intellihash tech already works with the avalons and doesn't need any modifications to those chips to work but modifciations are needed for the eAsic chips.

It's possible Ken has been working on Intellihash for quite some time using the Avalon chips for testing since he had no eAsic chips available at the time and when they arrived and he tested it on the eAsic chips he realised some modifications were needed.

[VinceSamios]

I guess I was completely spot on with this then? Since it was deleted? There was literally no other reason to delete my speculation (which I said it was) unless it was a little too accurate for comfort.

IntelliHash

I can't see how intellihash could possibly work... the only thing it possibly could be is an over-clocking utility. It cannot change a chip (Ken said it would work on avalons too), it cannot fake proof-of-work (and if it can, bitcoin is broken), so the only option is an over-clocking utility. Which would be coherent with the 20% increase quoted, as that would be about the max you could reliably overclock.

TLDR; IntelliHash is, in my judgement, an overclocking utility.

Did you read that old KnC article? They got their 30% performance boost from cgminer tweaking. If this is the case, then the delay with the chips is unrelated to the Intellihash development.

except Ken has explicitly said that the chips will be late due to alterations needed for Intellihash. He has also said that Intellihash could be a game changer for ActM, I don't thin he would use this language lightly in a formal update about the company.

Upon further review, you are correct:

Intellihash(tm)

Intellihash is our new trademark for our new Bitcoin mining software which gives up to a 20% increase in hashing speed and has the possibility to increase the speed of our mining machines as the difficulty goes up.  We have had to modify the software in our chips to make it work with our new software.  The chips are going to be late; however, our new Intellihash software could be a game changer for the company.

I don't believe I'll be talking about this on a public forum anymore in respect of Ken's wishes. I'm satisfied that Intellihash is real and will be very good for our miners.

The problem with this is kleeck, that ken also said:

AMC expects to use its Intellihash technology to increase its revenue with its existing machines until its eASIC designed chip is in full production.

That means it doesn't require chip modification. It can only be an overclocking utility.

Or that the Intellihash tech already works with the avalons and doesn't need any modifications to those chips to work but modifciations are needed for the eAsic chips.

It's possible Ken has been working on Intellihash for quite some time using the Avalon chips for testing since he had no eAsic chips available at the time and when they arrived and he tested it on the eAsic chips he realised some modifications were needed.

You're basically suggesting Avalon came up with IntelliHash(tm) - which they didn't because its a ActM trademark.

So if it works on Avalon chips, then it is software
If it is software, it cannot fake proof of work
If it can't fake proof of work, but increases hashrate, then it is an overclocking utility.

Where is the flaw in my logic?

[kleeck]

I guess I was completely spot on with this then? Since it was deleted? There was literally no other reason to delete my speculation (which I said it was) unless it was a little too accurate for comfort.

IntelliHash

I can't see how intellihash could possibly work... the only thing it possibly could be is an over-clocking utility. It cannot change a chip (Ken said it would work on avalons too), it cannot fake proof-of-work (and if it can, bitcoin is broken), so the only option is an over-clocking utility. Which would be coherent with the 20% increase quoted, as that would be about the max you could reliably overclock.

TLDR; IntelliHash is, in my judgement, an overclocking utility.

Did you read that old KnC article? They got their 30% performance boost from cgminer tweaking. If this is the case, then the delay with the chips is unrelated to the Intellihash development.

except Ken has explicitly said that the chips will be late due to alterations needed for Intellihash. He has also said that Intellihash could be a game changer for ActM, I don't thin he would use this language lightly in a formal update about the company.

Upon further review, you are correct:

Intellihash(tm)

Intellihash is our new trademark for our new Bitcoin mining software which gives up to a 20% increase in hashing speed and has the possibility to increase the speed of our mining machines as the difficulty goes up.  We have had to modify the software in our chips to make it work with our new software.  The chips are going to be late; however, our new Intellihash software could be a game changer for the company.

I don't believe I'll be talking about this on a public forum anymore in respect of Ken's wishes. I'm satisfied that Intellihash is real and will be very good for our miners.

The problem with this is kleeck, that ken also said:

AMC expects to use its Intellihash technology to increase its revenue with its existing machines until its eASIC designed chip is in full production.

That means it doesn't require chip modification. It can only be an overclocking utility.

Or that the Intellihash tech already works with the avalons and doesn't need any modifications to those chips to work but modifciations are needed for the eAsic chips.

It's possible Ken has been working on Intellihash for quite some time using the Avalon chips for testing since he had no eAsic chips available at the time and when they arrived and he tested it on the eAsic chips he realised some modifications were needed.

You're basically suggesting Avalon came up with IntelliHash(tm) - which they didn't because its a ActM trademark.

So if it works on Avalon chips, then it is software
If it is software, it cannot fake proof of work
If it can't fake proof of work, but increases hashrate, then it is an overclocking utility.

Where is the flaw in my logic?

Vince, you should hop on IRC some time so we can discuss this over a less public medium.

[VolanicEruptor]

...Vince, you should hop on IRC some time so we can discuss this over a less public medium.

Dec 08 04:38:54 <AMC-CEO>       I am thinking about quiting, but I am not a quiter, so I can't
Dec 08 04:39:08 <Kleeck>        Yes. It would be wise to not do that.
Dec 08 04:39:15 <AMC-CEO>       Why

The deep, unwashed recesses of the interbutts.

Umm cause you took all our money and now our lives depend on you?  jesus...

[JimmyJazz]

...Vince, you should hop on IRC some time so we can discuss this over a less public medium.

Dec 08 04:38:54 <AMC-CEO>       I am thinking about quiting, but I am not a quiter, so I can't
Dec 08 04:39:08 <Kleeck>        Yes. It would be wise to not do that.
Dec 08 04:39:15 <AMC-CEO>       Why

The deep, unwashed recesses of the interbutts.

Dec 11 08:38:54 <Crumbs>       I am sorry guys, I have no life. I have never been with a girl and spend my life on bitcoin securities forum.
Dec 11 08:39:08 <JimmyJazz>       You could always try and get a hooker with the dividends paid from ACTM?
Dec 11 08:39:15 <Crumbs>      I don't have any shares - and anyway I have never been with a girl because my penis is to small and i'm scared.

[snowdropfore]

ken, you said there will bw additional 3TH hashrate online in the next few weeks,but where is now ??

[finlof]

ken, you said there will bw additional 3TH hashrate online in the next few weeks,but where is now ??

+1