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

[Bitdust]

OK if we sell these shares Ukyo wants all the proceeds divided equally not us first and everyone else later. Now do the maths. I don't know how much he owes and to how many people.

I've done a little digging and figure that if Ken managed to sell all Ukyo's shares at 0.01btc per share, then after we recouped 106btc for ActM and paid the other 2214btc to the community, there would still be just over 3500btc outstanding that Ukyo would still owe the community.

Lol, you're confusing Ken with Robinhood.  Ken never set out to redistribute *anything* to the community.
Where'd you get that sweet shit you're smoking?

[sayonara_sam]

OK if we sell these shares Ukyo wants all the proceeds divided equally not us first and everyone else later. Now do the maths. I don't know how much he owes and to how many people.

mid december he paid 386 BTC, that was about 6,175%,
so in total he owes the community 6251 BTC - 386 BTC already paid out
= 5865 BTC outstanding

[zumzero]

Thanks say,

That confirms my figures above and also supports the information I received from another source.

It would leave 3545btc outstanding less any possible ActM legal costs.

This is based on the assumption that Ken would return all money to Weexchange users after ActM recovered theirs and that all Ukyo ActM shares sell for 0.01btc per share.

[Thumper650]

...
I imagine that Ken only wants the companies BTC back plus possibly legal expenses which would make sense.

The rest of the coin will barely cover the legal expenses.  Slaughter Law Belize charges serious coin.

[minerpart]

Zum you need to put some reality goggles on.

These 232k of shares will not sell for 0.01 That price will only be attained once we have the farm up are batch selling chips and shipping machines enmass.

The likely average  price is 0.004.

That will make 928btc.

If that is shared around everyone will get around 15% of their money back in btc. Do you want to thank this thief again for his generosity?

So we loose 85btc. Good news?

[zumzero]

If Ken wanted to recoup the money quickly, he would sell the lot at 0.000457 per share and be done with it.

I am not saying the shares will sell for 0.01 (edit:  in the near future), but I am saying there is a reason they are listed at that price.

Edit:  If Ken is happy to wait months for these shares to sell, doesn't 0.01 become a possibility?

I would expect Ken to recover 100% of money owed to ActM and ONLY THEN distribute the remainder amongst the larger community.

[Flashman]

with the last information of any kind about 5 months ago being a broken deadline so cause the prices
of ActM shares to drop so much you can continue to buy them back for pennies on the dollar compared
to what you pumped them to and be able to claim that all the shares I hold are worth less than the 100btc
you are personally having an issue with?

Hummm, mining shares dropped like a stone the instant someone got cold feet about running an exchange... ActiveMining didn't do allll that bad compared to IceDrill, even LRM whose shares went to 1/4 IPO prices or less.

If I were you I would be grateful that shareholders of everything on your exchange aren't getting together a class action due your actions effects on their asset values.

[minerpart]

Zum- And I agree with that - we need to look after ourselves at this crucial time. But Ukyo thinks differently. Thats the point and thats why you shouldn't be thanking him.

[iSnow]

If everything is paid for, why are you so desperate for your 100btc worth?
Why not leave the shares locked until I have paid everyone back. Are you now having to heavily count on this 100btc?

From the "Trust summary for Uyo":

• Users of UKYO's service are currently unable to withdraw funds. I will remove this rating when the matter is cleared up. https://bitcointalk.org/index.php?topic=326395.0
• He has scammed at least 800 BTC from users.https://bitcointalk.org/index.php?topic=337523.0

That's why.

I am pretty sure if you cough up the money right now, Ken will give back your shares.

[knybe]

I don't get how it's suddenly ACTM's responsibility to pay back WeEx/BF opaque malfeasance.

[zumzero]

If you want to play hard-ball Ukyo lets do it.

Please tell me you're not a marriage guidance counsellor!  

[drawingthesun]

I don't get how it's suddenly ACTM's responsibility to pay back WeEx/BF opaque malfeasance.

Agreed!

We must only sell 106 btc worth of shares of cover ActM owed money. Once the company is square we must return the leftover shares to UKYO so he can deal with everyone else. It's criminal to take ALL of UKYO's shares and sell all of them, his debts are not our issue.

I am only defending UKYO to this point because it's the right thing to do. UKYO slammed me down in front of everyone when I was among some of the first people to call out the possibility that UKYO would be unable to pay the funds from Bitfunder because he probably used them and was running a fractional reserve. I was correct but UKYO still attacked me so I am not defending him because of friendship, but because it's not right to steal his property after ActM is square with the owed 106 btc.

Ken please don't go down this rabbit hole, get the 106 btc and leave it at that. Please.

[zumzero]

..and round and round we go...

[iSnow]

Ken please don't go down this rabbit hole, get the 106 btc and leave it at that. Please.

Why do you even believe Ken is about to sell all of Ukyo's shares? He wrote:

We are selling Ukyo shares on Crypto-Trade to recover our losses on Bitfunder.

[mainline]

I am pretty sure if you cough up the money right now, Ken will give back your shares.

Minus the legal expenses.  And missed opportunities.  And filing charges.  And expenses.  And pain and suffering.

[drawingthesun]

Ken please don't go down this rabbit hole, get the 106 btc and leave it at that. Please.

Why do you even believe Ken is about to sell all of Ukyo's shares? He wrote:

We are selling Ukyo shares on Crypto-Trade to recover our losses on Bitfunder.

So why are 200,000+ shares on CT?

[VinceSamios]

To be clear: I have no issues with 100% of funds from the sale of all ActM Shares assigned to me to be distributed to weex users.
Everyone should be able to see the numbers.

-Ukyo

So:

Ukyo is actually giving Ken licence to sell his shares. For the record Ken can retain/sell them as lien anyway, so it's a bit besides the point but firms up Ken's position
Ukyo is then giving Ken licence to distribute funds to weex users, without being specific on a methodology. So that's up to Ken.

That said, Ken's best move would be to recover the 106BTC, and then return the remaining shares to Ukyo to figure out.

[VinceSamios]

Ken please don't go down this rabbit hole, get the 106 btc and leave it at that. Please.

Why do you even believe Ken is about to sell all of Ukyo's shares? He wrote:

We are selling Ukyo shares on Crypto-Trade to recover our losses on Bitfunder.

So why are 200,000+ shares on CT?

Ken said he would be working on it this week, maybe he is working on it as we speak.

[mainline]

Ken please don't go down this rabbit hole, get the 106 btc and leave it at that. Please.

Why do you even believe Ken is about to sell all of Ukyo's shares? He wrote:

We are selling Ukyo shares on Crypto-Trade to recover our losses on Bitfunder.

So why are 200,000+ shares on CT?

Ken said he would be working on it this week, maybe he is working on it as we speak.

Math is hard.

[Jasun7211]

with the last information of any kind about 5 months ago being a broken deadline so cause the prices
of ActM shares to drop so much you can continue to buy them back for pennies on the dollar compared
to what you pumped them to and be able to claim that all the shares I hold are worth less than the 100btc
you are personally having an issue with?

Hummm, mining shares dropped like a stone the instant someone got cold feet about running an exchange... ActiveMining didn't do allll that bad compared to IceDrill, even LRM whose shares went to 1/4 IPO prices or less.

If I were you I would be grateful that shareholders of everything on your exchange aren't getting together a class action due your actions effects on their asset values.

Mining shares are designed to drop like a stone from the get go.  Thats why I bought this company since it sells equipment and the mining is a cherry on top.  If intellehash provs its worth ACTM will have created another segment of the mining market.  You cant compare ACTM to a pure miner or a PMB.