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

[breadcrumbs]

A) It seems as if things really are happening now

B) Soon we will all be rejoicing and thanking you know whom!

[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)

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

we are seeing roughly 20% jump every 10 days. If ACTM has wafers by late april it will probably take until the END of may to get them packages, mounted, and through certification/testing if there are no holdups. That is roughly 120 days from now = 1.20^12=8.916 times larger than the current network. Depending who you ask, 20% per jump may be a conservative number, hence my rounding to 10x the current network size.

[drawingthesun]

It sounds like we might be able to grab and maintain 1% of the network. This is really good news.

I know many of us want 10%+ but lets be realistic.

Also the 28nm should be taking over just as the 1% starts to fall, so this is really good and could be fantastic.

I would still like to know if the 28nm will be a 100GH chip? If it's close we might have a chance in the long run to remain competitive even against KNC.

[equipoise]

@ 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.

Ken:
Some of us made more than one transfers to AMC-TENDER on different dates. Should we claim our shares in portions for each different date or we should use the date of the last transfer and claim them all at once? Thank you.

[hammurabi]

@ 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.

What transfer date should I consider valid for shares automatically transferred out of BitFunder?
I mean the shares which were not moved manually to AMC-TENDER.
Thank You.

[minerpart]

Who wants to sell me some cheap shares? Anyone interested pm me. I've got a reasonably sized budget but I want your very best price.

[nyc77]

...

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.

Ken, we appreciate your efforts. Still after all this time the most important info is missing: When exactly will the shares be tradeable?

[kslaughter]

@ 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.

Ken:
Some of us made more than one transfers to AMC-TENDER on different dates. Should we claim our shares in portions for each different date or we should use the date of the last transfer and claim them all at once? Thank you.

Thanks, I meant to mention that if you made more that one transfer to AMC-TENDER, each will have to be verified.

[mainline]

@ 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.

Ken:
Some of us made more than one transfers to AMC-TENDER on different dates. Should we claim our shares in portions for each different date or we should use the date of the last transfer and claim them all at once? Thank you.

Thanks, I meant to mention that if you made more that one transfer to AMC-TENDER, each will have to be verified.

Ken, now that you're no longer making any of the gear advertised on your site, why is it still listed as "available"?

[kslaughter]

...

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.

Ken, we appreciate your efforts. Still after all this time the most important info is missing: When exactly will the shares be tradeable?

As soon as I get the verification program up on the server, then as investors get verified we will start sending the list over to CT to create the accounts which will include the shares.  So, once the accounts are created then trading will start.

[kslaughter]

@ 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.

Ken:
Some of us made more than one transfers to AMC-TENDER on different dates. Should we claim our shares in portions for each different date or we should use the date of the last transfer and claim them all at once? Thank you.

Thanks, I meant to mention that if you made more that one transfer to AMC-TENDER, each will have to be verified.

Ken, now that you're no longer making any of the gear advertised on your site, why is it still listed as "available"?

We are still going to be making that gear; however, I will be changing the available dates on the 28nm products today or tomorrow.

[kslaughter]

@ 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.

What transfer date should I consider valid for shares automatically transferred out of BitFunder?
I mean the shares which were not moved manually to AMC-TENDER.
Thank You.

The date and time in your Bitfunder transfer log.

[mainline]

...
As soon as I get the verification program up on the server, then as investors get verified we will start sending the list over to CT to create the accounts which will include the shares.  So, once the accounts are created then trading will start.

What were you doing the last few months?  Did it really take you that long to write a script?
And this script is so fricking huge that it takes weeks to put it up on a server?
And it's so fricking slow that it will take weeks to work?

[kslaughter]

@ 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?

Your shares will be transferred after the AMC-TENDER shares are transferred.

[mainline]

@ 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.

Ken:
Some of us made more than one transfers to AMC-TENDER on different dates. Should we claim our shares in portions for each different date or we should use the date of the last transfer and claim them all at once? Thank you.

Thanks, I meant to mention that if you made more that one transfer to AMC-TENDER, each will have to be verified.

Ken, now that you're no longer making any of the gear advertised on your site, why is it still listed as "available"?

We are still going to be making that gear; however, I will be changing the available dates on the 28nm products today or tomorrow.

Did you forget to do that earlier?  You knew that you won't be making that gear for how long?
And what will you be changing the shipping date to?  
At this point, you don't give any shipping dates, only mentioning in fine print that the product will be shipped within days of manufacture, i.e. NEVER.
What changed?

[kslaughter]

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

I will never redirect any profits away from Active Mining shareholders for any reason.  I want all of my shareholders that have backed Active Mining to reap the benefits of their investment.

[kleeck]

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.

Exactly.

Ken has stated that he is going to make a ~10TH "budget" miner but the way he is talking about chip development seems to imply that he is going to mine in-house on the Q2 chips. Are we selling this "1-2PH" raw? Are we building a miner to sell them in? Are we mining on them exclusively? If we're doing a mixture of these, then how much will be put to mining and how much sold?

[PurpleTentacle]

Ken, during the share verification, will I have to convert the transfer time to a specific time zone?

[neilol]

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

I will never redirect any profits away from Active Mining shareholders for any reason.  I want all of my shareholders that have backed Active Mining to reap the benefits of their investment.

Thanks Ken for the last few posts. Starting to get some real updates feels good.

[kslaughter]

Ken, during the share verification, will I have to convert the transfer time to a specific time zone?

@PurpleTentacle I think all of Bitfunder transaction where on Central time.  PM me your bitfunder username, transaction time and number of shares from your records and I will look it up in our transaction records to see if they match.  If you have more that one transfer just send one.