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

[kslaughter]

Thanks Ken.  Looks like it will be a busy year for ActM.  Full steam ahead! 

Yes, everything is coming together.  Our project manager is keeping everyone working together and the project moving forward.

[JoTheKhan]

@ Ken what is the procedure for the share verification. Can you tell us ahead of time incase any of us need to get old paperwork, dig out old wallets ahead of time?

Sure, you will need the email address you want to use on CT, if you have an account already the shares will just be added to that account, if you don't then an account on that email will be created and the shares added to that account.  Next you will need the date and time of your transfer to AMC-TENDER and the Number of shares tendered.  To be verified the data must match our transfer records from bitfunder.

Thank you.

[zumzero]

Thanks Ken.  Looks like it will be a busy year for ActM.  Full steam ahead! 

Yes, everything is coming together.  Our project manager is keeping everyone working together and the project moving forward.

I do that job in a totally unrelated industry and to hear that gives me enormous confidence.  We might have been slow out the gates but fingers crossed we can build enough momentum to start overtaking the competition.

[mainline]

Update on trading and wafers:

It is going to be a few more days before, I can get the verifying program uploaded to the server.
...

...Once the verifying program is on the server, I will facilitate further forward-looking projections.

[mainline]

...I do that job in a totally unrelated industry and to hear that gives me enormous confidence.  We might have been slow out the gates but fingers crossed we can build enough momentum to start overtaking the competition. OMG I fell and broke my hip!  HAELP!

[wolfbiter]

@ Ken what is the procedure for the share verification. Can you tell us ahead of time incase any of us need to get old paperwork, dig out old wallets ahead of time?

Sure, you will need the email address you want to use on CT, if you have an account already the shares will just be added to that account, if you don't then an account on that email will be created and the shares added to that account.  Next you will need the date and time of your transfer to AMC-TENDER and the Number of shares tendered.  To be verified the data must match our transfer records from bitfunder.

Thank you.

What if we did not transfer our shares on Bitfunder to AMC-TENDER?

[JoTheKhan]

@ Ken what is the procedure for the share verification. Can you tell us ahead of time incase any of us need to get old paperwork, dig out old wallets ahead of time?

Sure, you will need the email address you want to use on CT, if you have an account already the shares will just be added to that account, if you don't then an account on that email will be created and the shares added to that account.  Next you will need the date and time of your transfer to AMC-TENDER and the Number of shares tendered.  To be verified the data must match our transfer records from bitfunder.

Thank you.

What if we did not transfer our shares on Bitfunder to AMC-TENDER?

I remember him having an updated Asset List as of Late/Mid November.

@Ken can you answer this for people?

[klondike_bar]

Update on trading and wafers:

It is going to be a few more days before, I can get the verifying program uploaded to the server.

I have been busy getting on the February UMC production run for our 55nm chip.

We are going to get 6 Wafer in the middle of April with about 1 week to package the chips.  Based on our estimated yield of 6,800 chips per wafer this give us 40,800 chips for a total hash rate of  77.52 TH/s.  Next we are going to receive 19 wafers by the end of April for a total of 245.48 TH/s, giving us 323 TH/s.  In May we will be able to get all of the wafers we want to run.

so ~320TH deploying late may on 55nm -> good news but hardly amazing. If difficulty climbs 75% a month till then, difficulty will be slightly less than 10x what it is now.

For reference I am running 1.63TH of equipment NOW -> rough equivalent of 16TH by the time actm can deploy 20x that (if they meet schedule)

[JoTheKhan]

Thank you Klondike. I would just like to say that a late start is better than no start at all. He did say that in May there is no limit to the number of wafers we can order. So Late June we could potentially jump up to what he predicted earlier in the week and continue to increase from there.

[zumzero]

Update on trading and wafers:

It is going to be a few more days before, I can get the verifying program uploaded to the server.

I have been busy getting on the February UMC production run for our 55nm chip.

We are going to get 6 Wafer in the middle of April with about 1 week to package the chips.  Based on our estimated yield of 6,800 chips per wafer this give us 40,800 chips for a total hash rate of  77.52 TH/s.  Next we are going to receive 19 wafers by the end of April for a total of 245.48 TH/s, giving us 323 TH/s.  In May we will be able to get all of the wafers we want to run.

so ~320TH deploying late may on 55nm -> good news but hardly amazing. If difficulty climbs 75% a month till then, difficulty will be slightly less than 10x what it is now.

For reference I am running 1.63TH of equipment NOW -> rough equivalent of 16TH by the time actm can deploy 20x that (if they meet schedule)

Don't discount to possibility of this being retrospectively 'amazing' news.  We start at the beginning and build from there.  This is the first time we've been given figures that can be used to quantify our position and for anyone to FUD post about the incessant rise in difficulty factor, which has the same proportional effect on all miners, it is suggestive of ulterior motives. EDIT : .., or evidence that they do not see the bigger picture. But hey, what would I know?

[Minor Miner]

I actually think the news is quite positive.    It appears to be realistic, the yield per waver is in line with the node and the dates seem achievable.   I am impressed with the disclosure.   should be hashing in June since there will be some problems here and there to address and the number is doable whether you build out or find someone to host.   

[kleeck]

Update on trading and wafers:

It is going to be a few more days before, I can get the verifying program uploaded to the server.

I have been busy getting on the February UMC production run for our 55nm chip.

We are going to get 6 Wafer in the middle of April with about 1 week to package the chips.  Based on our estimated yield of 6,800 chips per wafer this give us 40,800 chips for a total hash rate of  77.52 TH/s.  Next we are going to receive 19 wafers by the end of April for a total of 245.48 TH/s, giving us 323 TH/s.  In May we will be able to get all of the wafers we want to run.

When you talk about having ###TH/s do you mean that all of these will be used towards the ActM mining operation?

[JoTheKhan]

@wolfbiter You might want to PM Ken directly as I know him to answer PMs far sooner than a response on this thread.

[JoTheKhan]

Update on trading and wafers:

It is going to be a few more days before, I can get the verifying program uploaded to the server.

I have been busy getting on the February UMC production run for our 55nm chip.

We are going to get 6 Wafer in the middle of April with about 1 week to package the chips.  Based on our estimated yield of 6,800 chips per wafer this give us 40,800 chips for a total hash rate of  77.52 TH/s.  Next we are going to receive 19 wafers by the end of April for a total of 245.48 TH/s, giving us 323 TH/s.  In May we will be able to get all of the wafers we want to run.

When you talk about having ###TH/s do you mean that all of these will be used towards the ActM mining operation?

[zumzero]

Is there an implication that ActM may redirect their mining profits away from shareholders?

[klondike_bar]

Update on trading and wafers:

It is going to be a few more days before, I can get the verifying program uploaded to the server.

I have been busy getting on the February UMC production run for our 55nm chip.

We are going to get 6 Wafer in the middle of April with about 1 week to package the chips.  Based on our estimated yield of 6,800 chips per wafer this give us 40,800 chips for a total hash rate of  77.52 TH/s.  Next we are going to receive 19 wafers by the end of April for a total of 245.48 TH/s, giving us 323 TH/s.  In May we will be able to get all of the wafers we want to run.

so ~320TH deploying late may on 55nm -> good news but hardly amazing. If difficulty climbs 75% a month till then, difficulty will be slightly less than 10x what it is now.

For reference I am running 1.63TH of equipment NOW -> rough equivalent of 16TH by the time actm can deploy 20x that (if they meet schedule)

Don't discount to possibility of this being retrospectively 'amazing' news.  We start at the beginning and build from there.  This is the first time we've been given figures that can be used to quantify our position and for anyone to FUD post about the incessant rise in difficulty factor, which has the same proportional effect on all miners, it is suggestive of ulterior motives. EDIT : .., or evidence that they do not see the bigger picture. But hey, what would I know?

I am given the impression that they may be a bit late joining the party, especially if there are any unforsen delays or problems in the chip. Hashfast already demonstrated how long it can take from the photo of a dorky CEO holding a sealed box of wafers to actually putting equipment in the hands of miners. (Without checking, I think it was close to 5-6 weeks). By that time there will be a lot more 28nm options available (probably including bitfury if they are working on something in the background) and big promises on a 40nm by asicminer (ie: very cost-effective) - and the cost of hardware could begin to drop faster as buyers simply can't operate any larger a cluster at home

[JoTheKhan]

Is there an implication that ActM may redirect their mining profits away from shareholders?

He wants to know if Ken plans to sell any of them.

[Vigil]

Update on trading and wafers:

It is going to be a few more days before, I can get the verifying program uploaded to the server.

I have been busy getting on the February UMC production run for our 55nm chip.

We are going to get 6 Wafer in the middle of April with about 1 week to package the chips.  Based on our estimated yield of 6,800 chips per wafer this give us 40,800 chips for a total hash rate of  77.52 TH/s.  Next we are going to receive 19 wafers by the end of April for a total of 245.48 TH/s, giving us 323 TH/s.  In May we will be able to get all of the wafers we want to run.

so ~320TH deploying late may on 55nm -> good news but hardly amazing. If difficulty climbs 75% a month till then, difficulty will be slightly less than 10x what it is now.

For reference I am running 1.63TH of equipment NOW -> rough equivalent of 16TH by the time actm can deploy 20x that (if they meet schedule)

The network won't be 10x what it is now in May. It will be somewhere between 40-100 PH.

[zumzero]

Update on trading and wafers:

It is going to be a few more days before, I can get the verifying program uploaded to the server.

I have been busy getting on the February UMC production run for our 55nm chip.

We are going to get 6 Wafer in the middle of April with about 1 week to package the chips.  Based on our estimated yield of 6,800 chips per wafer this give us 40,800 chips for a total hash rate of  77.52 TH/s.  Next we are going to receive 19 wafers by the end of April for a total of 245.48 TH/s, giving us 323 TH/s.  In May we will be able to get all of the wafers we want to run.

so ~320TH deploying late may on 55nm -> good news but hardly amazing. If difficulty climbs 75% a month till then, difficulty will be slightly less than 10x what it is now.

For reference I am running 1.63TH of equipment NOW -> rough equivalent of 16TH by the time actm can deploy 20x that (if they meet schedule)

Don't discount to possibility of this being retrospectively 'amazing' news.  We start at the beginning and build from there.  This is the first time we've been given figures that can be used to quantify our position and for anyone to FUD post about the incessant rise in difficulty factor, which has the same proportional effect on all miners, it is suggestive of ulterior motives. EDIT : .., or evidence that they do not see the bigger picture. But hey, what would I know?

I am given the impression that they may be a bit late joining the party, especially if there are any unforsen delays or problems in the chip. Hashfast already demonstrated how long it can take from the photo of a dorky CEO holding a sealed box of wafers to actually putting equipment in the hands of miners. (Without checking, I think it was close to 5-6 weeks). By that time there will be a lot more 28nm options available (probably including bitfury if they are working on something in the background) and big promises on a 40nm by asicminer (ie: very cost-effective) - and the cost of hardware could begin to drop faster as buyers simply can't operate any larger a cluster at home

I'm not convinced that the Soviet's detonation of the Tsar Bomba would be considered 'a bit late joining the party' when you consider the potential for planetary devastation.  Likewise, our little startup may metamorphose into the dominant player and that's why this thread garners so much attention from non-investors.

Edit:  Make no mistake, this IS an arms race and ActM shareholders have front row tickets.

I laugh in the face of the .0009ers!  

[kactech]

Great updates, thank you Ken.