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

[zumzero]

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.

You just stand there, look pretty and don't say anything. 

[LorenzoMoney]

Ken will make me a millionaire. I have full faith in Ken.

Go ahead, buy my shares, Zums.

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.

You just stand there, look pretty and don't say anything.  (<---Zumies, quit using drugs)

[Mabsark]

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.

Please explain how not getting 10% of the network by the end of January means that they're on track to get 10% by the end of 2014?

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?

Labcoin didn't go well for me, obviously, but it didn't go bad for me either. I'm better off than I would have been if I just kept my ActM shares. What I said about ActM at the time was true, there would be no miners till December at the earliest and the price would plummet. The price dropped but there's still no miners.

[JoTheKhan]

Why do you guys continue to argue with other people who have the same information as you (none)? I'm sure your time can be better spent. We understand; for the few of you who think it is a scam. We get it. We will heed your warnings and proceed with caution. There is no more reason to try and beat it into our skull.

For the rest of you who don't think it is a scam. Please proceed with caution because a few others who you don't know at all think it is a scam and wish to protect you from the real world. Say thank you. Now can we stop this conversation which seems to have been going on for weeks. As you can see we have made NO ground in this regard.

It is Wednesday, do we expect an announcement from Ken today? Or is that starting next week?

[Stuartuk]

Please explain how not getting 10% of the network by the end of January means that they're on track to get 10% by the end of 2014?

The funds raised from 40 machines in month 1 is enough to expand the mining farm above the increase in difficulty rate, so the farm growth will outstrip network difficulty increase month on month. See my post, I have calculated the divs month on month till December 2014.

Labcoin didn't go well for me, obviously, but it didn't go bad for me either.

Under-statement of the century. You lost a majority percentage of your money in LabCoin. I warned you about it endlessly, but you chose to believe the unbelievable - that you would make 1000BTC in LabCon. You were on here everyday trying to keep ACtM prices low by spreading FUD so that you had the option to buy back in on a low share price. That was very damaging to ACtM shareholders but here you are back again trying to pretend you did nothing wrong.

Mabsark - I am very very happy that you lost 75+% of your money in Labcoin, lessons like that are invaluable in life.

So how many ACtM shares do you have now?

[zumzero]

It is Wednesday, do we expect an announcement from Ken today? Or is that starting next week?

I think it's a good idea to think of these announcements as 'The Weekly Update' rather than the 'Wednesday Update'.  

Let's say Wednesday plus or minus a day and perhaps that will prevent people getting antsy if it turns out to be a Thursday.  

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

[Mabsark]

Please explain how not getting 10% of the network by the end of January means that they're on track to get 10% by the end of 2014?

The funds raised from 40 machines in month 1 is enough to expand the mining farm above the increase in difficulty rate, so the farm growth will outstrip network difficulty increase month on month. See my post, I have calculated the divs month on month till December 2014.

Since when are estimations facts? Especially when those estimations are clearly wrong.

Labcoin didn't go well for me, obviously, but it didn't go bad for me either.

Underestimate of the century. You lost a majority percentage of your money in LabCoin. I warned you about it endlessly, but you chose to believe the unbelievable - that you would make 1000BTC in LabCon. You were on here everyday trying to keep ACtM prices low by spreading FUD so that you had the option to buy back in on a low share price. That was very damaging to ACtM shareholders but here you are back again trying to pretend you did nothing wrong.

Mabsark - I am very very happy that you lost 75+% of your money in Labcoin, lessons like that are invaluable in life.

So how many ACtM shares do you have now?

That was not the understatement of the century at all. I didn't lose about 75% of my money. When I sold my ActM shares, I could have bought about 3 AM shares. When I sold my LC shares, I bought 5.89 AM shares.

I wasn't spreading FUD at all about ActM. What I said would happen, did happen. It was obvious it would happen. You just buried your head in the sand though and ignored the maths. You continue to ignore reality and keep pushing your obvious hype as fact. But no, it's not you that's mad, it's everyone else.

[Stuartuk]

Since when are estimations facts? Especially when those estimations are clearly wrong.

Care to mention anything specific?

[babybonobo]

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.

What exactly are you trying to imply by this?  So what if someone else was faster doing this?  I agree that DeadTerra is a good manager.  They had more time and/or different future plans.  This proves nothing about ActiveMining, just ICEDRILL---Next!

[damiano]

God this thread is complete and utter shit

+1 I recommend DTS's Fact Only Thread. Even the people who you guys call trolls are only giving relevant information in there.

Yeah I saw it,  it's good and appreciated. 

[Mabsark]

Since when are estimations facts? Especially when those estimations are clearly wrong.

Care to mention anything specific?

You claimed to be posting facts. I pointed out your so called facts were nothing but wild speculation designed to make ActM look better than it actually is. You responded by saying I was wrong because you've did the estimations.

[Stuartuk]

Here is my post Mabsark

https://bitcointalk.org/index.php?topic=297503.msg3906211#msg3906211

Care to mention anything specific?

[babybonobo]

God this thread is complete and utter shit

+1 I recommend DTS's Fact Only Thread. Even the people who you guys call trolls are only giving relevant information in there.

Yeah I saw it,  it's good and appreciated. 

I have moved my bookmarks :p

[Mabsark]

Here is my post Mabsark

https://bitcointalk.org/index.php?topic=297503.msg3906211#msg3906211

Care to mention anything specific?

First of all, using https://bitcointalk.org/index.php?topic=297503.msg3741018#msg3741018 shows profit being spent each month to buy more chips. That isn't a possibility. You can't just give eASIC $1.6 million and expect to get $1.6 million worth of chips from them instantly. They're not wizards and magic does not exist. Those chips have to be ordered and produced. When was the NRE paid again? We still don't have chips after months. What makes you think eASIC can produce millions of dollars worth of chips every month? The whole post is based on a flawed foundation.

So we can expect that by the time we are a few weeks into January we will have a fund of over 4Mill USD to spend solely on the ACtM mining farm.
Therefore by end of January we can expect to have in the region of 40 fully deployed 24.5TH/s machines on our farm. (The machines are retailing at 233k. I would expect cost-price would be sub 50% of retail, so at 90k per machine that gives us 400k change for install costs from a 4Mill fund).

Why would you expect that when Ken recently said:

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

.

First you pull $4 million out your arse, then you pull 1 Ph/s out your arse too. You don't know how many chips eASIC wil produce for ActM and you don't know how many chips have already been sold.

You claim not to be a lying piece of shit, misrepresenting facts in order to hype up the share price, yet in that post you claim to be using the latest update from Ken dated 2013-09-24, whereas the latest update from Ken was on 2013-11-30. I also checked the pdfs and couldn't find any mention of $4 million.

[kleeck]

Here is my post Mabsark

https://bitcointalk.org/index.php?topic=297503.msg3906211#msg3906211

Care to mention anything specific?

First of all, using https://bitcointalk.org/index.php?topic=297503.msg3741018#msg3741018 shows profit being spent each money to buy more chips. That isn't a possibility. You can't just give eASIC $1.6 million and expect to get $1.6 million worth of chips from them instantly. They're not wizards and magic does not exist. Those chips have to be ordered and produced. When was the NRE paid again? We still don't have chips after months. What makes you think eASIC can produce millions of dollars worth of chips every month? The whole post is based on a flawed foundation.

So we can expect that by the time we are a few weeks into January we will have a fund of over 4Mill USD to spend solely on the ACtM mining farm.
Therefore by end of January we can expect to have in the region of 40 fully deployed 24.5TH/s machines on our farm. (The machines are retailing at 233k. I would expect cost-price would be sub 50% of retail, so at 90k per machine that gives us 400k change for install costs from a 4Mill fund).

Why would you expect that when Ken recently said:

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

.

First you pull $4 million out your arse, then you pull 1 Ph/s out your arse too. You don't know how many chips eASIC wil produce for ActM and you don't know how many chips have already been sold.

You claim not to lying piece of shit, misrepresenting facts in order to hype up the share price, yet in that post you claim to be using the latest update from Ken dated 2013-09-24, whereas the latest update from Ken was on 2013-11-30. I also checked the pdfs and couldn't find any mention of $4 million.

Welcome back to the forums, Mabsy. I appreciate you actually discussing ActM here. I'd like to toss in a little data that might shed some light on this.

According to eASIC it takes them 8 weeks from tape-out to tested chips. As development will be complete in the scenario above, that is the most realistic time frame for a new batch of chips from them, I believe. That being said, I'm not sure how many batches of current 28nm Netreme-2 chips we will be reordering as the real benefit in using eASIC is that one can move from FPGA -> Nextreme -> easiCopy (Full Cell-Based ASICs) seamlessly. Once Ken gets Intellihash working on the current pending batch and ActM gets moving with production I suspect Ken will be in talks with eASIC to start planning the easiCopy move.

Resources:

http://www.easic.com/high-speed-transceivers-low-cost-power-fpga-nre-asic-45nm-easic-nextreme-2/easic-nextreme-2-overview/
http://www.easic.com/Spatr7ve/website-wp1/wp-content/uploads/2011/05/easicopy-ASIC-Product-Brief.pdf

[zumzero]

Here is my post Mabsark

https://bitcointalk.org/index.php?topic=297503.msg3906211#msg3906211

Care to mention anything specific?

First of all, using https://bitcointalk.org/index.php?topic=297503.msg3741018#msg3741018 shows profit being spent each money to buy more chips. That isn't a possibility. You can't just give eASIC $1.6 million and expect to get $1.6 million worth of chips from them instantly. They're not wizards and magic does not exist. Those chips have to be ordered and produced. When was the NRE paid again? We still don't have chips after months. What makes you think eASIC can produce millions of dollars worth of chips every month? The whole post is based on a flawed foundation.

So we can expect that by the time we are a few weeks into January we will have a fund of over 4Mill USD to spend solely on the ACtM mining farm.
Therefore by end of January we can expect to have in the region of 40 fully deployed 24.5TH/s machines on our farm. (The machines are retailing at 233k. I would expect cost-price would be sub 50% of retail, so at 90k per machine that gives us 400k change for install costs from a 4Mill fund).

Why would you expect that when Ken recently said:

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

.

First you pull $4 million out your arse, then you pull 1 Ph/s out your arse too. You don't know how many chips eASIC wil produce for ActM and you don't know how many chips have already been sold.

You claim not to lying piece of shit, misrepresenting facts in order to hype up the share price, yet in that post you claim to be using the latest update from Ken dated 2013-09-24, whereas the latest update from Ken was on 2013-11-30. I also checked the pdfs and couldn't find any mention of $4 million.

Welcome back to the forums, Mabsy. I appreciate you actually discussing ActM here. I'd like to toss in a little data that might shed some light on this.

According to eASIC it takes them 8 weeks from tape-out to tested chips. As development will be complete in the scenario above, that is the most realistic time frame for a new batch of chips from them, I believe. That being said, I'm not sure how many batches of current 28nm Netreme-2 chips we will be reordering as the real benefit in using eASIC is that one can move from FPGA -> Nextreme -> easiCopy (Full Cell-Based ASICs) seamlessly. Once Ken gets Intellihash working on the current pending batch and ActM gets moving with production I suspect Ken will be in talks with eASIC to start planning the easiCopy move.

Resources:

http://www.easic.com/high-speed-transceivers-low-cost-power-fpga-nre-asic-45nm-easic-nextreme-2/easic-nextreme-2-overview/
http://www.easic.com/Spatr7ve/website-wp1/wp-content/uploads/2011/05/easicopy-ASIC-Product-Brief.pdf

[deizel]

You can't just give eASIC $1.6 million and expect to get $1.6 million worth of chips from them instantly.
What makes you think eASIC can produce millions of dollars worth of chips every month?

Keep in mind that eASIC - once the design/conversion has been finalised - outsource to foundries such as GlobalFoundries and Fujitsu.^[1]

AMD had previously contracted to buy $500 million in wafers in the fourth quarter from GlobalFoundries

Granted, the chips don't just materialize on the spot; though I don't see us hitting a ceiling with chip order sizes in the range of a few million dollars.

[Stuartuk]

MabSark - very quickly as it's late.

Your disrespectful attitude is not on. You are not a five year old so stop acting like one. I was perfectly polite to you.

Firstly eASIC do not fab the chip's. Their many foundry partners do and these suppliers can easily produce repeated large orders - look at the size of the companies eASIC supply to and think of the size of their current orders.

Second, we are taking in 2.1 million USD in orders per month - as you would know if you paid attention. Hence a conservative estimate of having 4 mill available to fund the farm in January. We are expected to take in 4mill by then giving us over 6mill in fund's total.

Thirdly I don't know what you are talking about with this 1 PETAhash. I didn't mention 1 PETAhash specifically. Yes I say in my post we will have 7% of network hash through the month of February. And my estimate places that around 40 of our mining rigs -
24.5TH/s each = 0.98PETAhash. That is how many rigs I believe we can deploy by end February with a 4mill invest fund.

Finally you are extremely rude and clearly unable to do reasonable research or hold a grown-up conversation so you are now on my ignore list - incase you wonder why I don't reply to your nonsense.

[Mabsark]

You can't just give eASIC $1.6 million and expect to get $1.6 million worth of chips from them instantly.
What makes you think eASIC can produce millions of dollars worth of chips every month?

Keep in mind that eASIC - once the design/conversion has been finalised - outsource to foundries such as GlobalFoundries and Fujitsu.^[1]

AMD had previously contracted to buy $500 million in wafers in the fourth quarter from GlobalFoundries

Granted, the chips don't just materialize on the spot; though I don't see us hitting a ceiling with chip order sizes in the range of a few million dollars.

You're missing the point. It takes more than 1 month to produce the chips and the foundries have far bigger customers such as ARM, AMD, etc. The foundries don't have infinite capacity and can only produce a limited amount of chips in a specific time frame. While ActM may not be hitting that ceiling, you can bet that AMD and ARM will be.

Expecting the hash rate to keep increasing every month shows a complete lack of understanding of the subject.

[ActiveMining-PR]

Weekly Update 12/11/13


Crypto-Trade:

Still working on the verification program, which should be finished this week.  After the verification program is finished we will have a time where shareholders will be able to verify their shares.  After that we will move this batch over to Crypto-Trade and start trading.  Lagers will still be able to verify there shares and will be moved to Crypto-Trade in batches.

VMC:

We are continuing to bring in all the parts for mass production of our miners.

AMC:

We will be using a minimum of 50% of our manufacturing capacity to build miners for AMC's mining farm.