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

[minerpart]

Well you (and numerous others) have registered just to post on the ACtM thread, so I guess the answer to your question is - you want them. 

[1714177073]

1714177073

[VinceSamios]

FYI - there is a limit on the number of shareholders in a private company under which they would have a lot of freedoms.

I believe it is currently still a limit of 500 shareholders however legislation is in process to increase that to over 1000 through the "Jumpstart Our Business Startups Act" which has been approved but will be added to the JOBS Act and therefore requires another vote and presidential signature (I'm not sure if this has happened yet)

The latest list of ActiveMining investors shows 323 people (http://bitfunder.firstitinc.com/asset-list/assetlist-2013-12-07-01:40.txt) although we need to take into consideration that a lot of people tendered shares prior to this.

Searching for a pre-bitfunder shutdown list (http://bitfunder.firstitinc.com/asset-list/assetlist-2013-11-01-23-50.txt.bz2) shows 768 investors. We can guestimate this is higher as not all BTCT.co investors would have moved across prior to this. (if I understand correctly)

It might have been recommended, possibly even by the SEC, for Ken to delay listing the shares until the amendment to the JOBS Act has been passed (it may already have been, I haven't bothered googling it).

[VinceSamios]

All you Trolls are wasting your time.

Ken is not going to list shares anywhere until AFTER we have the  major news release we all know is comming. You sad f-ed up little low-lifes have all reaped your just rewards for trying to sabotage this project and treating Ken like dirt - nothing.

If you hadn't acted like low-life scum on here for months and months I think Ken would have put more effort into getting the shares back online after Bitfunder folded. But instead, he has done most definitely the best thing which is to concentrate on BUILDING THE BUSINESS rather than getting the shares back up so that Trolls can get their grubby stinking little hands on them at a cheap price.

I'm p-ing myself at your 'mis-fortune'. You have created this situation yourselves, now see what your reward is for acting like complete scum? Nothing. Zero. Zilch.

You want shares? You gonna have to pay up. lolly lolzy lol.

 

I don't like the words, but I like the meaning. This!

[Cropcircle]

Devils Advocate:

The company is registered in Belize (I believe) which solves most of the problems of offering shares in a company. If those shares become publicly tradable then the US imposes it's own laws (rightly or wrongly) which prohibit trading with US citizens. In that respect ActM might need to limit access to share trading with US citizens.

Don't let your confirmation bias lead you - this has to be a consideration for ActM, weather it turns out to be an issue or not.

The fact that Ken egistered a company in Belize does not change the fact that ken sold his unregistered securities to US persons.  Fact.
Even a full buyback won't absolve him any more than returning the money stolen from a bank would absolve a bank robber.  Fact.
The law was already broken, the only thing to be done now is wait & see if Ken's daring do was interesting enough for the SEC to go after.  If Ken didn't lie about the SEC contacting Jon abo​u​t Active Mining, my guess is Ken should ​get ​a love letter​ ​from them sometime soon.

[knybe]

….

In the world that we are in, when we don't have information, the only action we can take is to ask for information.

…or consider it a failure or a scam.

[Cropcircle]

FYI - there is a limit on the number of shareholders in a private company under which they would have a lot of freedoms.

I believe it is currently still a limit of 500 shareholders however legislation is in process to increase that to over 1000 through the "Jumpstart Our Business Startups Act" which has been approved but will be added to the JOBS Act and therefore requires another vote and presidential signature (I'm not sure if this has happened yet)

The latest list of ActiveMining investors shows 323 people (http://bitfunder.firstitinc.com/asset-list/assetlist-2013-12-07-01:40.txt) although we need to take into consideration that a lot of people tendered shares prior to this.

Searching for a pre-bitfunder shutdown list (http://bitfunder.firstitinc.com/asset-list/assetlist-2013-11-01-23-50.txt.bz2) shows 768 investors. We can guestimate this is higher as not all BTCT.co investors would have moved across prior to this. (if I understand correctly)

It might have been recommended, possibly even by the SEC, for Ken to delay listing the shares until the amendment to the JOBS Act has been passed (it may already have been, I haven't bothered googling it).

Vinny, please stop making shit up.  Unregistered securities are unregistered securities.  If you wish to play interweb lawyer, at least cite the laws you're invoking​.​

Any future changes in the applicable laws will not be retroactive.  What Ken did was illegal at the time that he did it, and remains illegal now.  I to enjoy fantasizing about possible hospitable future, though I do not base my financial decisions on those fantasies.

[minerpart]

This is already very old. The SEC sent a desist letter to Bitfunder (months ago). He acted and they didn't prosecute Ukyo/Jon.

He would have been a huge scalp if that's what they were after - they are not, they are out to protect US investors.

So clearly they have no intention of prosecuting this industry unless instructions and guidance are ignored.

So nothing to worry about, if there was, ACtM would be shut down already.

[Bargraphics]

Well you (and numerous others) have registered just to post on the ACtM thread, so I guess the answer to your question is - you want them. 

Crumbs alt was banned

NickDanger, a virtual identity which I chose for you as my manifestation on this forum, was banned without a warning.

All of his other Alts have commented on that thread including webgypsy (admittedly), cropcircle, and thumper650. This list also includes Doloreshaze, Dolor, Doloresmaze, accountmarketing.

Please understand who you are talking to on this thread as he is going through great lengths to create multiple accounts.

Carry on.

[VinceSamios]

Devils Advocate:

The company is registered in Belize (I believe) which solves most of the problems of offering shares in a company. If those shares become publicly tradable then the US imposes it's own laws (rightly or wrongly) which prohibit trading with US citizens. In that respect ActM might need to limit access to share trading with US citizens.

Don't let your confirmation bias lead you - this has to be a consideration for ActM, weather it turns out to be an issue or not.

The fact that Ken egistered a company in Belize does not change the fact that ken sold his unregistered securities to US persons.  Fact.
Even a full buyback won't absolve him any more than returning the money stolen from a bank would absolve a bank robber.  Fact.
The law was already broken, the only thing to be done now is wait & see if Ken's daring do was interesting enough for the SEC to go after.  If Ken didn't lie about the SEC contacting Jon abo​u​t Active Mining, my guess is Ken should ​get ​a love letter​ ​from them sometime soon.

I had a call myself from the SEC about ActM

[knybe]

fuck this.

woulda been better off sinking all my money into KnC miners and doing it myself.

WE SHOULD HAVE BEEN MINING WEEKS AGO TO HAVE MADE THIS PROJECT WORTH WHILE.

[minerpart]

I had a call myself from the SEC about ActM

What was their line of inquirery? And when was the call?





Yes Bargraphics - that's what I was saying. The Trolls are after the shares - we know who they are.

[knybe]

Yes Bargraphics - that's what I was saying. The Trolls are after the shares - we know who they are.

at this point they're just trolling to be mean.

based on other "no info" bitcoin projects results, I'm afraid the trolls may be right…

[Mabsark]

This is already very old. The SEC sent a desist letter to Bitfunder (months ago). He acted and they didn't prosecute Ukyo/Jon.

He would have been a huge scalp if that's what they were after - they are not, they are out to protect US investors.

So clearly they have no intention of prosecuting this industry unless instructions and guidance are ignored.

So nothing to worry about, if there was, ACtM would be shut down already.

With US investors getting screwed by ActM and the SEC being there to protect US investors, why would the SEC not take action against Ken?

[Cropcircle]

Well you (and numerous others) have registered just to post on the ACtM thread, so I guess the answer to your question is - you want them. 

Crumbs alt was banned

NickDanger, a virtual identity which I chose for you as my manifestation on this forum, was banned without a warning.

All of his other Alts have commented on that thread including webgypsy (admittedly), cropcircle, and thumper650. This list also includes Doloreshaze, Dolor, Doloresmaze, accountmarketing.

Please understand who you are talking to on this thread as he is going through great lengths to create multiple accounts.

Carry on.

Bargraphics, whose sock are you?  You didn't join this forum in June just to unload your Terrahash preorder on some sucker, did you?  I mean, IN YOUR FIRST POST?

You're not the only one entitled to socking, don't get so uppity & butthurt when others do it.

[VinceSamios]

I had a call myself from the SEC about ActM

What was their line of inquirery? And when was the call?

Not a lot, but it seemed to be in the consumer protection vein - this was just after the bitfunder shutdown.

[VinceSamios]

fuck this.

woulda been better off sinking all my money into KnC miners and doing it myself.

WE SHOULD HAVE BEEN MINING WEEKS AGO TO HAVE MADE THIS PROJECT WORTH WHILE.

% network share is the same BTC ROI regardless - and with BTC price increases we've got just as good a chance as before regardless of difficulty.

I think you, and others, need to grow a pair.

[minerpart]

With US investors getting screwed by ActM and the SEC being there to protect US investors, why would the SEC not take action against Ken?

Because they don't prosecute legitimate businesses unless they have deliberately flaunted legislation to scam, defraud, or avoid taxes.

The SEC have already shown their colours here. They have troddon softly with cease and desist letters instead of Police raids or InterPol/extradition requests. The Bitcoin economy now has official sanction in the US, no legitimate BTC mining business will be closed down if they follow SEC guidance after direct contact. Ken appears to be doing that.

[webgypsy]

fuck this.

woulda been better off sinking all my money into KnC miners and doing it myself.

WE SHOULD HAVE BEEN MINING WEEKS AGO TO HAVE MADE THIS PROJECT WORTH WHILE.

% network share is the same BTC ROI regardless - and with BTC price increases we've got just as good a chance as before regardless of difficulty.

I think you, and others, need to grow a pair.

The only problem being this:  To secure the same percentage of the total hashrate, you now need many more chips, many more cases, many more power supplies.
Grow a brain.

[VinceSamios]

fuck this.

woulda been better off sinking all my money into KnC miners and doing it myself.

WE SHOULD HAVE BEEN MINING WEEKS AGO TO HAVE MADE THIS PROJECT WORTH WHILE.

% network share is the same BTC ROI regardless - and with BTC price increases we've got just as good a chance as before regardless of difficulty.

I think you, and others, need to grow a pair.

The only problem being this:  To secure the same percentage of the total hashrate, you now need many more chips, many more cases, many more power supplies.
Grow a brain.

Isn't it lucky the price of BTC has gone up so substantially since the first estimates were made.

bye troll

[minerpart]

Not a lot, but it seemed to be in the consumer protection vein - this was just after the bitfunder shutdown.

This will be their main concern in the BTC arena.

We need to remember that they are also bound by the laws of the US and they can't barge into a business premises and close them down without serious evidence or serious criminality. They do not want to be taken to court for a multi-million dollar law-suit, which is what they would face if they closed down any legitimate business that is serving it's customers and investors well. If they have issues then a company is wise to follow their advice or instruction but so far they have decided to guide the industry down he right path rather than kill it. Bitcoin will create tens of thousands of jobs in the US, if Ken and others don't do this business in the US then the Chinese will simply steal the share of the market. That's not good for the US economy or US investors.