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

[fannybaws]

freenode irc?  what channel?

Freenode #ActiveMining

Any chance the reCAPTCHA can be made accessible for humans? What a joke!

lol you can click on the audio button!

Lol, Tried that and thought I was on mushrooms for a second.

[VinceSamios]

Thanks mate, I invested with the expectation of about 25% returns. I never really thought myself greedy.

LOL then you didn't really think about your risk/reward

[JimmyJazz]

BTW - Anybody who invested in this and didn't have a reasonable expectation that there was a 50% chance they would lose their money is... a... dumb fuck. I tried to be more civil on that, but... it's the most accurate phraseology I could come up with.

So lets say we all lose all our money - you are equally as much to blame as Ken. Think about it people, greed begets pain.

I don't think anybody expected to lose ALL their money after the easic announcement. We thought we would get atleast a few dividends from WORKING hardware. At this point we have nothing atall - some dust. How can that be possible when everything was in place to have a decent stab at this. COMPLETE AND UTTER INCOMPETENCE.

[fannybaws]

@ crumbs

Oh shut up man!  If we all knew how our cars worked there would be no mechanics in the world.  Look back at all of my quotes and show me ONE where I have claimed to have a technical understanding of asic production.  After you've done that, explain to me why having a technical knowledge in a subject is a prerequisite for becoming a shareholder.  Get over yourself crumbs you arrogant individual.

[minerpart]

BTW - Anybody who invested in this and didn't have a reasonable expectation that there was a 50% chance they would lose their money is... a... dumb fuck. I tried to be more civil on that, but... it's the most accurate phraseology I could come up with.

So lets say we all lose all our money - you are equally as much to blame as Ken. Think about it people, greed begets pain.

Why 50%? I don't understand, that seems quite arbitrary. With eASIC publishing a confirmatory news release I don't think 50% chance of total loss at that time would be a sensible assumption.

And in terms of apportioning 'blame' - I don't think investors are ever to blame for the actions of CEO's. Investors take risks with their own capital, in return for that risk they are usually rewarded. The reward does not always materialise as many small businesses fail. Investors are not to 'blame' for that - it's a fact of life. Now if someone has over-invested yes you can criticise them for that.

[minerpart]

Obviously he didn't have a full business plan put together yet and figured he could only get away with 45nm with an IPO on here. So once he struck a deal with eASIC 28nm he then put that plan into action instead of a 45nm. Also based on his post he was going to do a 45nm Standard-Cell not FPGA Copy. It would cost just about the same as the 28nm eASIC (Probably more if he was planning on doing a flip-chip as that packing is not cheap.

To answer the Bold, the answer is NO, porting anything over is the very first step once you contact a backend design company. Then you get to wait around 12 weeks for them to finish that, 8 weeks for the mask, 8 weeks for the wafers.

Ahh some of this sounds familiar. Thanks Bargraphics, so the choice was made to go with 28nm after this news release. Check.

[knybe]

so where is eASIC in all this? Are they not proven and reputable?

How could they have fucked up and not delivered based on some kind of phantom, unbeknown timeline?

or was it all Ken in the fucking up?

Still not sure why they (eASIC) are so high and mighty that they can't be called into account? I don't get why we are on eggshells with them.

They were paid a lot of money. They are, after all, the vendor… are they not?

[Stuartuk]

Well what can you do? Fire them off an email? They pass it on to Ken.

The chips are delayed.
The boards are delayed.

We need to deal with those facts - like grown ups. It's a waiting game now. Personally I do not expect to lose all my money in this. At the very worst I still see the 0.0025 paid back. It might take 10+ months but it will happen. At the best I see us taking 5% of global hash and holding it. Anyone willing to go there or are you all depressed and moribund?

Cheer up you old buggers.

[hobbymd]

so where is eASIC in all this? Are they not proven and reputable?

How could they have fucked up and not delivered based on some kind of phantom, unbeknown timeline?

or was it all Ken in the fucking up?

Still not sure why they (eASIC) are so high and mighty that they can't be called into account? I don't get why we are on eggshells with them.

They were paid a lot of money. They are, after all, the vendor… are they not?

my guesstimate would be, eASIC saw ken and his poor RTL code as easy money. They took the money and gave him the useless chips based on his RTL code and then laughing all the way to the bank.  After all eASIC based the chips on ken's code so can't blame eASIC for the failure

[Stuartuk]

Maybe, but eASIC are very successful, they have Global customers, big names.

So I don't think they would risk their very solid reputation for 800k USD (est. max) profit and associate themselves with a sure-to-fail company which is so much tied to the success of a chip they supplied. eASIC have too much to lose for that. They would want ACtM to succeed I believe.

And Ken estimates 40Mill of chip sales in 2014 - that is good business for eASIC. If we do well they do well.

[Stuartuk]

eASIC simply risk becoming associated with a failed company. One that has (this is speculative)  that has lost investors Millions, has the CEO arrested by the SEC and has an eASIC chip that doesn't work, for whatever reason.

Firms like this are very careful about who they supply and partner with. The eASIC press release says we have worked together to make the 24TH/s rig. So it's a partnership in all but name and for that reason eASIC could come out of this very badly if we fail big-time. I think they will be actively involved in trying to make this work out for everyone.

[babybonobo]

My synopsis:

1) Investors and trolls freak out over news of delays (me included).
2) Technically ACTM is only delayed by about 2 months max (maybe less depending on the sample chips).  Not good news, but not "sky is falling" news.
3) This is definitely a delay and NOT a scam (make your own decision, but I know this for sure)
4) Boards are being redesigned, unclear of status of chips
5) Trading shares not a priority especially with regulation/laws looming that could fuck up the whole endeavor
6) Knowledge is power...there are many competitors and other snakes with sharp teeth...
7) Sit back and wait for Colored Coins.  I am 100% in and long on ACTM, but make your own decision...this should make for an exciting year!  2014 FTW


Taken from http://s3v3r3dh3ads.blogspot.com

[knybe]

…
I think they [eASIC] will be actively involved in trying to make this work out for everyone.

Well it sure would be nice to know eASIC's fancy overhyped and "under NDA" opinion about this whole thing.

Are they laughing at Ken? Are they attempting to make "the fastest hashing bitcoin miner?" All this is a total fucking X-files mystery and the answer is out there.

[knybe]

My synopsis:

1) Investors and trolls freak out over news of delays (me included).
2) Technically ACTM is only delayed by about 2 months max (maybe less depending on the sample chips).  Not good news, but not "sky is falling" news.
3) This is definitely a delay and NOT a scam (make your own decision, but I know this for sure)
4) Boards are being redesigned, unclear of status of chips
5) Trading shares not a priority especially with regulation/laws looming that could fuck up the whole endeavor
6) Knowledge is power...there are many competitors and other snakes with sharp teeth...
7) Sit back and wait for Colored Coins.  I am 100% in and long on ACTM, but make your own decision...this should make for an exciting year!  2014 FTW

Interesting read regarding CC et al:

Bitcoin 2.0 Explained: Colored Coins Vs Mastercoin Vs Open Transactions Vs Protoshares

[fannybaws]

Lol crumbs, you just posted information which the the best news we have heard in ages.  This was going to be sat on because it is obvious that you trolls would just have something else to attack, so why feed you?

So go ahead folks, now the cat is out the bag, read it in context.  This is very bullish news indeed!  

Here, I will help....


IRC chat in the last few minutes...

[19:28] <abillionhorses> Just that there is a meeting this weekend with the board designers and another with eASIC.  Forum coming for investors, SEC fears stop ACTM from developing trade portal (they dont want to fuck their company or investors)...sounds to me like we will be waiting for CC or similar (good).  BTCtalk posts have been thin due to eASIC NDA and Ken's policies...this is due to competition and annoying
[19:28] <abillionhorses> immature teenager like attitudes being dealt with on the forums in the past (decided they didn't want to deal with that--i dont blame em).  Hearing how gerald spoke, his tone of voice and the professional intro recordings at VMC plus this info is enough to me that this is definitely not a scam (I wasn't perfectly sure before) and that we are just facing delays.  After looking at ken's
[19:28] <abillionhorses> original timeline we are not delayed as much as some trolls would make you believe...2 months MAX--fine with that.  I'm gonna take a chillpill and step back and watch
[19:29] <shaofis1> Would be nice if Ken would give some indication how far behind schedule he might be... if anything to help preserve pre-orders... those who have ordered are reading this and coming to the same conclusions we all are.
[19:30] <fannybaws> haw, minerpart.  YouTube Limmy: Requiem. Lasts 3:38
[19:30] <minerpart> I never doubted this project. We will all at the very worst get our BTC back. Yes BTC. Have a good weekend guys. This aint over yet.
[19:31] <abillionhorses> ehh yeah...he will let us know at some point IMO but he also reserves the right to tell us when he wants to tell us (for sake of the company--competition etc).  I wouldnt let my competitor know my timeline either...so eh it depends how you look at it.  I dont see it as nefarious

[iSnow]

So, VE, how is your inquiry at eASIC going? Could we get an update or are you pulling a Ken on us?

[Minor Miner]

Wow, that IRC is great news!!!
Strange, the way they spoke on it, but great news anyway.
Can anyone point me to thread WHERE THE $6 MILLION WORTH OF CUSTOMERS ARE SPEAKING WITH EACH OTHER OR ASKING ABOUT POWER NEEDS ETC.?
It seems you have sold miners that are over 2 months late to the most patient (and quiet) people in all of bitcoin land.

[fannybaws]

Lol crumbs, you just posted information which the the best news we have heard in ages.  This was going to be sat on because it is obvious that you trolls would just have something else to attack, so why feed you?

So go ahead folks, now the cat is out the bag, read it in context.  This is very bullish news indeed!  
...

This might be the best news you have heard in ages, but have you wondered about the mock secrecy?  Just as everybody thinks everyone on irc is crumbs, this beauty is released into the chan?  Do you really think babymonkey is that stupid?  

*I'll help:  No, babymonkey is NOT that stupid.  So

Get a life for gods sake!  You make me laugh so much it's not funny.  If you aren't getting paid a lot of money to sit and monitor all the ActM threads and IRC chats and are doing this for any other reason then all hope is lost for you my friend.   Where traders have multi-monitor set ups to display graphs and all that shit, I bet you have the same set up but each screen has something ActM on it.

Go and get some fresh air and take the cats out for a walk or something, it will do you good.  I promise.

[fannybaws]

Wow, that IRC is great news!!!
Strange, the way they spoke on it, but great news anyway.
Can anyone point me to thread WHERE THE $6 MILLION WORTH OF CUSTOMERS ARE SPEAKING WITH EACH OTHER OR ASKING ABOUT POWER NEEDS ETC.?
It seems you have sold miners that are over 2 months late to the most patient (and quiet) people in all of bitcoin land.

And what exactly is your motive for frequenting the ActM thread?  Tell us a little about your connection to this company or another perhaps?  What have you got to say for yourself?  I challenge you to take me on and I promise I will decimate every point and argument to can come up with.  Let me see what you've got ManicMinor.  GO!

[Minor Miner]

OK SockPuppet answer this:
1.  Where are these customers?  How many customers do you think are in $6MM?
2.  Where is a picture of the chip?   You think that is covered by NDA?
3.  Where are the products that were shipped?   That was clearly stated.

Pick any two of the three and give a full answer and we will all be convinced.