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

[drawingthesun]

By the way, the panic buying will get us down to 140,000 at most. Unfortunately this wall will be with us until the end.

Soon people will freak out and start putting up 0.00049 walls and Ken will be forced to keep moving the wall lower and lower. I expect panic in the next few weeks because people who expected the wall to sell out realising their mistake. Once they do all those 0.0005 shares people bought will be moved down forcing Ken's "firesale" to either end or go to the next bargain level.

[drawingthesun]

Ken is trying to do it, no matters whether it will succeed or not, he could lower the price again.
Ken is trying to fuck everyone with shares that he doesn't own, crashing price for his shareholders and stealing a possible way to get some money back to weexchange users.
If this last part could be used against Ken in the legal action against Weexchange (I'm still not sure about it, I'm researching), we'll do it

Everything you said here makes sense.

Guys, we are on the wrong side of the argument this time. This chaos over the stupid 100 bitcoin is such a misdirection it's not even funny. It's almost as if it was planned...

[MilkyWayMasta]

I don't understand what's behind all this commotion.
Are people just waking up to Ken's shiftiness?
Is it surprising that some panic buys happened when the asks got dropped from .1 to .0005 (err... two-hundred-fold)?  People like "bargains," panic buying is a thing.

And there's nothing worth mentioning being sold anyhow.
Really a tempest in a teacup.

The asks got dropped from 0.01 to 0.0005, a 20-fold decrease, not 200.

See?  Only twenty-fold decreese.  Nothing to get wound up about!

That's at the previous ask. With the sentiment I see around here, an optimistic peg of the price would have been 0.005 (10-fold decrease) and on the low end 0.00075 - 0.001 (50% off and even less). But that's not the problem, the problem is Ken not making it possible for the weak hands to get out.

[Jasun7211]

Well in all fairness Ken did say he was going to do this.   This shouldn't be a surprise.  To me this is a great deal even if AMC has just the 6 avalons running and thats it.  As much as I hate pure mining, this is still something to take advantage of, since we know the whole situation with the sale.  UKYO has proven to me personally that he is worthless, since he didn't have the decency to respond back to me about my bitfunder situation.  Ken has always been very respponsive to me via PM.  How can anyone blame Ken for being tight lipped after the VE situation.  People just need to look at the bigger picture and stop using their amygdalas for making decisions on how to act.  All those that were on their high horse a few weeks ago about I can't wait to snap up some cheap shares.....here is your gift.  

[Pompobit]

As a user affected by the weexchange mess, I really blame Ken that is liquidating Ukyo's shares to get his debt back before other users.

Ukyo said more than once that he intended to liquidate shares to partialy refund weexchange users. I don't know if he is in good faith, but in this way Ken is fucking one of the few hopes we have to get some money back.
He doesn't have rights on those shares more than the other weexchange users, so this is a very unfair action.

I hoped that Ken would have sold the shares at higher prices to five the differences later to Ukyo or weexchanges users, as he stated here
in a Pm with Ukyo:

The shares have a lien on them.  You are hereby notified that if the ~100 BTC is not paid in the next 10 days, we will sell your shares to the public to satisfy your debt to the company.  Should the shares not satisfy your debt to the company you will still be liable for the remaining debt.  Any amouts over the debt will be disperse to you less any cost of the sale.

but now that with the current prices he only can earn 100XBT in total, there will be no "amounts over".

As we speak things are moving for a legal action against weexchange, I need to investigate if it is possible to include Ken Slaughter and Active Mining in this action.

Back to you Mr Pom, as I said you're right about Ken doing this the wrong way, however you're wrong about this damaging UKYO's chances to give back the Bitcoin his stole from you. Those shares would never sell above 0.0005, in fact with all things considered that's too much of a premium.

Ken is wrong selling the shares at any price. Getting back HIS debt before everyone else puts him in wrong. Even selling shares at 0.0005 and getting 100XBT, those money should be split among ALL the weexchange users and not paying him before. So it's wrong from the beginning.

As a user affected by the weexchange mess

By the way, if you believe the weexchange is a mess then you're delusional and should probably stop posting. UKYO stole funds and lost, he stole your money so stop defending him. An exchange never needs to run a fractional reserve. The fact you call the theft a "mess" shows us all you don't know what your talking about.

I don't want to discuss about SCAM or not SCAM here. I'm following this "mess" closely (as you can see, I'm tracking every information since the beginning: https://bitcointalk.org/index.php?topic=342122.0) and the situation is complicated, the intervention of Danny from Neo&Bee complicated even more. So yes, I know what I'm talking about

[drawingthesun]

So yes, I know what I'm talking about

Fair enough, I'm a little worked up at the moment, this stupid move selling UKYO's shares for 100 bitcoin is insane.

[drawingthesun]

To me this is a great deal even if AMC has just the 6 avalons running and thats it.  

0.0005 values ActiveMining at 12,500 bitcoin.

Those Avalons will mine another 10 bitcoin before they are put in the trash.

How is this a great deal?

0.0000004 per share is a more realistic deal, this value takes into account our expected hashrate from the Avalons.

[mainline]

...the problem is Ken not making it possible for the weak hands to get out.

Ken *is* making it possible for the "weak hands" to get out.  He's getting out - like a boss!

[Pompobit]

So yes, I know what I'm talking about

Fair enough, I'm a little worked up at the moment, this stupid move selling UKYO's shares for 100 bitcoin is insane.

It's ok man, I know you are one the largest shareholder here (I invested in ActM too, luckily I got out in time), and Ken fucked his investor once again, no surprise you are upset

[MilkyWayMasta]

Ken is wrong selling the shares at any price. Getting back HIS debt before everyone else puts him in wrong. Even selling shares at 0.0005 and getting 100XBT, those money should be split among ALL the weexchange users and not paying him before. So it's wrong from the beginning.

How is Ken responsible for Ukyo's mistakes? This is between Ukyo and Ken as the CEO of ActiveMining, not Ukyo, Ken, and also the users Ukyo stole from.

[minerpart]

As a user affected by the weexchange mess, I really blame Ken that is liquidating Ukyo's shares to get his debt back before other users.

We are all users effected by the WeEX mess - Ukyo stole 106BTC of our investment capital. That was money from us investors stolen by Ukyo.

Now your money might well be important to you but you need to remember who stole it from you. You also need to realise ACtM has lost money from it's balance sheet and that money needs to be returned. Hundreds of people are invested in this company and we and the employees of ACtM have a legal right to get our stolen money back. You obviously don't like that but it's out legal right and we are exercising it for the sake of this company. If you want to see some of your money back buy these shares, at this price you are guaranteed a full return on your money.

[finlof]

As a user affected by the weexchange mess, I really blame Ken that is liquidating Ukyo's shares to get his debt back before other users.

We are all users effected by the WeEX mess - Ukyo stole 106BTC of our investment capital. That was money from us investors stolen by Ukyo.

Now your money might well be important to you but you need to remember who stole it from you. You also need to realise ACtM has lost money from it's balance sheet and that money needs to be returned. Hundreds of people are invested in this company and we and the employees of ACtM have a legal right to get our stolen money back. You obviously don't like that but it's out legal right and we are exercising it for the sake of this company. If you want to see some of your money back buy these shares, at this price you are guaranteed a full return on your money.

wise words from a man who knows his math...

[minerpart]

Guys lol.. There is no fire sale, because there are no buyers.

Haven't 21.5% of the shares been sold already? Am I missing something?

If that rate continues they will all be gone in 4days.

[mainline]

...If you want to see some of your money back buy these shares, at this price you are guaranteed a full return on your money.

To be more precise, if Ken isn't lying, the buyer is *guaranteed x5 return on his money*.

[drawingthesun]

As a user affected by the weexchange mess, I really blame Ken that is liquidating Ukyo's shares to get his debt back before other users.

We are all users effected by the WeEX mess - Ukyo stole 106BTC of our investment capital. That was money from us investors stolen by Ukyo.

Now your money might well be important to you but you need to remember who stole it from you. You also need to realise ACtM has lost money from it's balance sheet and that money needs to be returned. Hundreds of people are invested in this company and we and the employees of ACtM have a legal right to get our stolen money back. You obviously don't like that but it's out legal right and we are exercising it for the sake of this company. If you want to see some of your money back buy these shares, at this price you are guaranteed a full return on your money.

$80,000 is not a lot of money, if you look into the risk/reward analysis of the situation it's not worth the effort. Ken makes the company look even worse, pisses off hundreds of people already pissed at UKYO who may now threaten legal action against ActiveMining.
That $80,000 is not even enough to follow through a solid legal defense, what a waste!

In addition some perspective is needed, the 100 bitcoin represents 0.000004 per share and shows Ken's hand. He must desperately need that 100 bitcoin to take such an immense risk.

What if Ken was to sell 40,000 of UKYO's shares at 0.0025 to make back the 100 bitcoin? UKYO keeps 180,000 shares to do what he wants with and Ken does not devalue his investors shares. Everyone wins.

[Pompobit]

As a user affected by the weexchange mess, I really blame Ken that is liquidating Ukyo's shares to get his debt back before other users.

We are all users effected by the WeEX mess - Ukyo stole 106BTC of our investment capital. That was money from us investors stolen by Ukyo.

Now your money might well be important to you but you need to remember who stole it from you. You also need to realise ACtM has lost money from it's balance sheet and that money needs to be returned. Hundreds of people are invested in this company and we and the employees of ACtM have a legal right to get our stolen money back. You obviously don't like that but it's out legal right and we are exercising it for the sake of this company. If you want to see some of your money back buy these shares, at this price you are guaranteed a full return on your money.

It is really easy to get, probably you are in bad faith.

Let's explain with easy numbers.

Ukyo stole 1000 XBT from 10 users, Ken was on of the users and robbed by 100 XBT
Ken holds (not owns) 100 ActM Ukyo's shares with 1XBT value each one.
Those shares are owned by Ukyo and he could (and should) liquidate them to partially refund ALL weexchange users, so 10XBT each one
Ken instead sells him and pays back his debt entirely, leaving none to the other users.

Is it fair? Is it legal?

[wasubii]

Why the immense rush to sell these shares Ken?

Why not hold on to our 'lien'?

What are you not telling us?

[minerpart]

What if Ken was to sell 40,000 of UKYO's shares at 0.0025 to make back the 100 bitcoin? UKYO keeps 180,000 shares to do what he wants with and Ken does not devalue his investors shares. Everyone wins.

Good idea. I would go along with that. But who is going to pay 0.0025 when you keep saying the shares are worth 0.0001??

I don't understand how they would sell at that price. Are they worth 0.0001 or not?

[mainline]

Now is a perfect time for Bargraphics to join this lofty debate and reinstill us with confidence.

[Jasun7211]

As a user affected by the weexchange mess, I really blame Ken that is liquidating Ukyo's shares to get his debt back before other users.

We are all users effected by the WeEX mess - Ukyo stole 106BTC of our investment capital. That was money from us investors stolen by Ukyo.

Now your money might well be important to you but you need to remember who stole it from you. You also need to realise ACtM has lost money from it's balance sheet and that money needs to be returned. Hundreds of people are invested in this company and we and the employees of ACtM have a legal right to get our stolen money back. You obviously don't like that but it's out legal right and we are exercising it for the sake of this company. If you want to see some of your money back buy these shares, at this price you are guaranteed a full return on your money.

$80,000 is not a lot of money, if you look into the risk/reward analysis of the situation it's not worth the effort. Ken makes the company look even worse, pisses off hundreds of people already pissed at UKYO who may now threaten legal action against ActiveMining.
That $80,000 is not even enough to follow through a solid legal defense, what a waste!

In addition some perspective is needed, the 100 bitcoin represents 0.000004 per share and shows Ken's hand. He must desperately need that 100 bitcoin to take such an immense risk.

What if Ken was to sell 40,000 of UKYO's shares at 0.0025 to make back the 100 bitcoin? UKYO keeps 180,000 shares to do what he wants with and Ken does not devalue his investors shares. Everyone wins.

Remember Ken said he is dumping these shares incase one day a judge sustains an injunction to halt the shares.  No shares, no halt.  Smart play by me.  Also this scenerio is highly unlikely anyway because UKYO will be muddled down with all kinds of other stuff.  Better for him to just take his 500 BTC and go to Rio