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

[drawingthesun]

Please see https://bitcointalk.org/index.php?topic=361930 for useful ActiveMining stuff.

[Stuartuk]

Our exclusive supplier (eASIC) is one of the most sought-after and successful ASIC chip manufacturers in Silicon Valley.

We only need 40 of our 24.5TH/s miners to be deployed by the end of January to be on target for taking over 10% of network by end of 2014.

We have the funds in place to build and deploy those mining rigs.

Ken has no reason whatsover to exagerate ACtM business predictions.

So pankkake - please explain why you are active on here all of a sudden now that we are days away from being listed on CryptoTrade.

[Stuartuk]

What you need is actual things happening, and not trying to subtract yet another set of coins from investors (the Cryptostocks thing, AMC-TENDER, etc.)

Ken is not selling shares or raising any funds on any exchange. He hasn't taken any funds from investors since IPO days. So that is lie number 1.

lying to...customers (announces shipping but actually isn't)

There has been no attempt to misrepresent shipping dates to customers. Shipping dates are explained in full when customers place orders. Not a single customer has complained about missed shipping dates for any specific order - because no shipping dates have been missed. So that is lie number 2.

Do you have anything else to say pankkake?

Edit - telling the truth isn't cheerleading. Misrepresenting the facts is cheerleading. Tell me one single fact that I have misrepresented. If there are none then I am just putting forth the facts - do you have a problem with someone putting forward the facts on the Official Thread?

[Stuartuk]

Stuartuk, lying and aiding scams isn't painting you in a good light. Since your coins are obviously already gone, you should try to look after what's left of you.

I would like to see some evidence of:

1) lying

and

2) scamming

In you own time, we have all day.

[Stuartuk]

That's because there are no verifiable customers.  For all you know, Ken's Active Mining is buying gear from Ken's Virtual Mining.
Oh, wait...  You don't even know that, do you?  You just took Ken's word for it

So either way, pankkakes comment about shipping dates is a complete lie. If there is no evidence of customers there can be, by definition, no evidence of missed shipping dates for customers.

Your lies are not mutually supportive in this instance - so please try harder.

[Stuartuk]

Sadly there are,

I have asked VMC for a shipping estimate and they have so far ignored me.

That is not evidence of a missed shipping date. The poster does not mention a missed shipping date.

Is that the substance behind your claim of lying to customers? A two line post from an anonymous poster?

[Stuartuk]

I suppose you are right.  If there are no customers, there are no shipping dates given, and thus no lying could take place.
I believe you just had yourself a pyrrhic victory, Stuartuk.  Let me be the first to congratulate you.

Absolutely - there is no evidence of customers apart from 2.1 Million USD in orders in November alone.

The 'victory' I had there was proving you both post brazen lies on here and when pushed to back up those statements you have nothing whatsoever to back up those lies.

Why are you two here again???

[zumzero]

...
There has been no attempt to misrepresent shipping dates to customers. Shipping dates are explained in full when customers place orders. Not a single customer has complained about missed shipping dates for any specific order - because no shipping dates have been missed. So that is lie number 2.
...

That's because there are no verifiable customers.  For all you know, Ken's Active Mining is buying gear from Ken's Virtual Mining.
Oh, wait...  You don't even know that, do you?  You just took Ken's word for it

Come back and tell us all about verifiable customers when we are shipping products using Intellihash.  It will be a cold day in hell when you show your face in this thread.

[zumzero]

No it won't. 

[Stuartuk]

Show me the receipts...

Do you see customer-order receipts from any listed company? No. It never happens.

What we do have is an Official News release which is a legal document.

If it was false Ken would be committing fraud and opening himself up to being prosecuted and imprisoned or fined.

Considering he has nothing to gain from exaggerating customer orders (as he is not issuing shares or raising funds) the likelihood that the statement about orders is false is almost zero. There is no benifit to lieing in this case but an immense ammount of risk.

Your next point please.

[Stuartuk]

He has plenty to gain by exaggerating.

Name one gain to be had by exaggerating customer orders at this time.

Take your time...

[Stuartuk]

So again your statements are proved to be lies - there is no substance behind your accusations today and there will be none tomorrow either.

Very poor show.




EDIT

This man wants ACtM shares.

ACtM holders, do not sell below 0.0025 because he WILL pay that and more for them.

Sell to him at 0.0025 and above  - if you have to.

[Mabsark]

Edit - telling the truth isn't cheerleading. Misrepresenting the facts is cheerleading. Tell me one single fact that I have misrepresented. If there are none then I am just putting forth the facts - do you have a problem with someone putting forward the facts on the Official Thread?

You said:

3600BTC are generated every day, there is no speculation in that.

That's not a fact. The fact is, that 50,400 BTC are generated every round, whereas the amount generated daily is variable.

Also, this:

We only need 40 of our 24.5TH/s miners to be deployed by the end of January to be on target for taking over 10% of network by end of 2014.

which is quite clearly speculation and not fact. Speculation designed to lead people to think that ActM will perform better than it will.
Do you know how many chips that would take? Around 60,000. How many chips and miners have been sold? How many chips will be produced in the first batch? 40 x 24.5 Th/s miners is about 1 Ph/s. What makes you so certain that the network hash rate will only be 10 Ph/s by the end of January? That's only a 33% increase, whereas the network has increased by 78% in the past 30 days alone.

[Mabsark]

...
There has been no attempt to misrepresent shipping dates to customers. Shipping dates are explained in full when customers place orders. Not a single customer has complained about missed shipping dates for any specific order - because no shipping dates have been missed. So that is lie number 2.
...

That's because there are no verifiable customers.  For all you know, Ken's Active Mining is buying gear from Ken's Virtual Mining.
Oh, wait...  You don't even know that, do you?  You just took Ken's word for it

Come back and tell us all about verifiable customers when we are shipping products using Intellihash.  It will be a cold day in hell when you show your face in this thread.

IntelliHash - the DowloadMoreRAM of bitcoin ASICs.

[zumzero]

@ pankkake

No investors are willing to be scammed, and fewer of them have a tendency to scam.  People take on risks, and some are better at that than others.

Just because an investment is not risk free certainly doesn't mean it's a scam.  

You have totally confused your figures if you genuinely believe that the risk that comes with an ActM investment outweighs the potential for high reward.

[Stuartuk]

You said:

3600BTC are generated every day, there is no speculation in that.

That's not a fact. The fact is, that 50,400 BTC are generated every round, whereas the amount generated daily is variable.

Averaged out yes it's a fact. Sorry if the finer detail was not explained - it is not atall relevant to the estimates being put forward. If you think it is relevant let us know why.

Also, this:

We only need 40 of our 24.5TH/s miners to be deployed by the end of January to be on target for taking over 10% of network by end of 2014.

What makes you so certain that the network hash rate will only be 10 Ph/s by the end of January?

I didn't say it would be - not atall. I said quite clearly (you quoted it) that 40 miners would put us on target for 10%+ by end of 2014.
You should read my post from the other day for more detail. https://bitcointalk.org/index.php?topic=297503.msg3906211#msg3906211

So in summary you are wrong on both counts.




BTW Mabsark - where have you been? How did Labcoin go for you? Have you made your 1000BTC yet? Did the LC experience humble you or have you turned up here to cause trouble again and tell everyone how much you are going to make from trading BTC securities?

[LorenzoMoney]

Zummikins,


No investor with Madoff was looking to get scammed. No one looks to get scammed. People had big eyes and dreams and ignore data.
We all wants to be the stuff of bitcoin legend having invested in a company that becomes wildly successful.
Active Mining is not a scam, but, at some point, even an honest man can panic when schedules are missed and he wants to save face. A little lie about deadline is a little lie because What does a week or two matter? Then a missed week is two weeks, a month, two months, and another lie has to be formulated to cover the previous little lie, if only the chips HAD come in on time, then the first lie would not have mattered.


Despite that, I still believe in Ken and if you believe in Ken, I will sell you all 169,000 of my shares in ActM for 1218 bitcoin. This offer is open until a viable exchange is operating. Put your money where your faith is.

 

@ pankkake

No investors are willing to be scammed, and fewer of them have a tendency to scam.  People take on risks, and some are better at that than others.

Just because an investment is not risk free certainly doesn't mean it's a scam.  

You have totally confused your figures if you genuinely believe that the risk that comes with an ActM investment outweighs the potential for high reward.

[SebastianJu]

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.

I agree that its not like a ponzi. But you should think about your last sentence. I followed the same logic and find myself now in the situation helping to hunt down the labcoin scammer. He collected the bitcoins and scammed clearly. We have proof enough. So not disappearing instantly is not a proof in itself.

But like i said i think Ken is legit. At least i hope.

[LorenzoMoney]

Gains to be had by exaggerating customer orders:

1. It makes the reality that things are falling apart seem less real. It is a gentle white lie to save face.
2. It is like boasting, by exaggerating sales, everybody thinks you and the company are doing better, so there is an emotional ego gain.
3. It is hopeful thinking. By exaggerating sales, it is a way of saying, see, things could be good, and will be good.
4. It is a way of getting the doubters and self doubt to go away, exaggerating sales is a form of self deception to encourage oneself.

We could go one, four is enough.

He has plenty to gain by exaggerating.

Name one gain to be had by exaggerating customer orders at this time.

Take your time...

[zumzero]

@ crumbs

Your analogy is broken.  There is no trust and therefor no investment opportunity with a 'guy at the bar', but there is ample with a Chief Executive Officer who has a business partnership with a leading North American company who has just hired a former Apple Executive to join the Board of Directors.

Implying I'm a child warrants no response and if your post was an attempt to 'educate' me, you get an E-. Go straight to bed and do not pass go and do not collect 200 bitcoins.