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

[mainline]

@Bargraphic:  ROFL!

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[ActM Thread]

So someone please out this as a scam already and let's be done with it.

If there is anyone out there with a difinitive answer please chime in... Bargraphics?

It's not a scam,

Ken goofed (Which honestly I don't know how as those chips are OBVIOUSLY bitfury)

The board is legit, it IS for bitfury chips and I know the 55nm chips will have a similar packaging.

The Engineering team has working custom bitfury boards, the same design will likely be used for ActM's 55nm chips


At this point there's two options.

You either believe the trolls who have never met with Ken or the Engineering team that he hired/bought the IP from.

Or you join up in #ActM and get real information from someone who actually flew to California and met with Greg / People's ASIC and happened to fly to Missouri and met with Ken.

The trolls will try to make this black and white and it's not. Ken is obviously not listening to the engineering company or letting them tell him what to say because saying these are BFL chips is absurd. I have total faith that Ken from this point forward will consult with his engineering team before posting on here and clarify his misunderstanding

For those  who may not be aware, there is also a new self moderated ActM thread that is successfully being kept free from troll posts while not stifling discussion.  

https://bitcointalk.org/index.php?topic=462370.0

[VinceSamios]

The recurrence of poor spelling, creative capitalization and insider information makes me think this is another kslaugher sockpuppet.

This is the guy that did the interview with Ken.

Everyone who is serious, and actually holds actm shares, join #ActM on IRC - we make a lot more sense there and discuss/debate things rationally.

[EduardoDeCastro]

Why are we over analyzing pictures of a chip that we know hasn't been spun yet.

Ken has said on multiple occasions that they opted to not go for a small sample run and instead have placed a full order. That schedule has been released you know there are no chips yet so why all of the concern over what must be some stock photo.

Because

...
This is a board that our engineer designed and those are BFL chips.  ...

If Ken said it was a stock image, it would have ended right there.
He didn't - he said the board was made by the "stealth startup" that he allegedly bought.

But he fucked up, not knowing dick about electronics in general, and ASICs in particular.

The chips aren't BFL, they're BitFury.  Ken can't even lie right.

If Ken actually had engineers to advise him, he wouldn't make such laughable blunders.  The guy is not just a scammer, he's an incompetent scammer.

So someone please out this as a scam already and let's be done with it.

If there is anyone out there with a difinitive answer please chime in... Bargraphics?

It's not a scam,

Ken goofed (Which honestly I don't know how as those chips are OBVIOUSLY bitfury)
...

http://s30.postimg.org/a0rqxlja9/miracles.jpg
  Bargraphics.  He'll Take You There!

[RoadStress]

So someone please out this as a scam already and let's be done with it.

If there is anyone out there with a difinitive answer please chime in... Bargraphics?

It's not a scam,

Ken goofed (Which honestly I don't know how as those chips are OBVIOUSLY bitfury)

The board is legit, it IS for bitfury chips and I know the 55nm chips will have a similar packaging.

The Engineering team has working custom bitfury boards, the same design will likely be used for ActM's 55nm chips


At this point there's two options.

You either believe the trolls who have never met with Ken or the Engineering team that he hired/bought the IP from.

Or you join up in #ActM and get real information from someone who actually flew to California and met with Greg / People's ASIC and happened to fly to Missouri and met with Ken.

The trolls will try to make this black and white and it's not. Ken is obviously not listening to the engineering company or letting them tell him what to say because saying these are BFL chips is absurd. I have total faith that Ken from this point forward will consult with his engineering team before posting on here and clarify his misunderstanding

Why do you come here to defend ken? He should apologize for the mistake invoking being tired doing hard work for his company. But he didn't. Instead he is busy deleting posts from here and coming up with more lies instead of real tangible proofs.

[ab8989]

It would have to be a redesign, but not much of one.

I am slightly wondering about the chip dimensions. You have stated that ActiveMining chip package dimensions are going to be 11mmx11mm. However I believe bitfury chip package dimensions are 7mmx7mm. The board seems fairly tightly packed with the 7x7mm chips. If you increase the size of package you would have to decrease the number of rows and columns of chips to make them fit. So I do not understand how this could be not much of a redesign as basically everything changes.

The board is legit, it IS for bitfury chips and I know the 55nm chips will have a similar packaging.

I am also a bit wondering how you can know that 11mmx11mm chips are similar than 7mmx7mm chips?

[Bargraphics]

The board is legit, it IS for bitfury chips and I know the 55nm chips will have a similar packaging.

I am also a bit wondering how you can know that 11mmx11mm chips are similar than 7mmx7mm chips?

Not sure if this is the answer you are looking for, but the packaging is similar (QFN) just larger and the Engineering team has worked extensively with Bitfury Chips so I'm fairly confident that this will be similar.

Elaborate on your definition of similar and I'll try to answer better.

[mainline]

...

The board is legit, it IS for bitfury chips and I know the 55nm chips will have a similar packaging.

I am also a bit wondering how you can know that 11mmx11mm chips are similar than 7mmx7mm chips?

BFL, Bitfury.   49mm², 121mm².  Heat dissipation?  FUD!  Don't sweat the details.
Join Bargraphics' Kool-Aid Fanciers Club aka #actm, and wait for the magic beans to sprout.

*The boards also have no voltage converters (to step down 12V to the voltage needed by the chips).  Only Bitfury chips could be daisy-chained.
The cooling is also going to be pretty lulzy -- Bitfury chips are currently the best J/GH performers, and each chip hashes a small fraction of what Ken claims his 55nm chips will hash.  Meaning more heat needs to be dissipated.

TL;DR:  Ken doesn't understand shit, Bar is simply talking shit.

[RickJamesBTC]

I still can't figure out why people thought that "investing" was sending sending anonymous currency to an unregistered company to buy "Shares" despite sec regulations. This wasn't high risk investing, this was fraud. Once you clear your head of the idea that maybe this was like buying lottery tickets, and realize that ALL OF YOU should be contacting the authorities and demanding ken refund your deposit value at the beginning, you will be able to agree on all these topics.

[runam0k]

I still can't figure out why people thought that "investing" was sending sending anonymous currency to an unregistered company to buy "Shares" despite sec regulations. This wasn't high risk investing, this was fraud. Once you clear your head of the idea that maybe this was like buying lottery tickets, and realize that ALL OF YOU should be contacting the authorities and demanding ken refund your deposit value at the beginning, you will be able to agree on all these topics.

I think everyone understood this to be the wild west. That doesn't mean all issuers are scammers -- there have been BTC security success stories.

[mainline]

...I think everyone understood this to be the wild west. That doesn't mean all issuers are scammers -- there have been BTC security success stories.

Sure.
There have been scratch ticket lottery success stories too.  Which doesn't mean investing in scratch tickets to make money is smart.
It's not.

Of course, if by "success stories" you mean traders making money, that has little to do with issuers not scamming.  Many people made serious coin trading Labcoin, which "investors" are beginning to acknowledge is a scam.

[runam0k]

...I think everyone understood this to be the wild west. That doesn't mean all issuers are scammers -- there have been BTC security success stories.

Sure.
There have been scratch ticket lottery success stories too.  Which doesn't mean investing in scratch tickets to make money is smart.
It's not.

Of course, if by "success stories" you mean traders making money, that has little to do with issuers not scamming.  Many people made serious coin trading Labcoin, which "investors" are beginning to acknowledge is a scam.

So what are you trying to say? That there are zero bona fide, worthwhile investments in the BTC space?

EDIT: I am definitely not implying ActM is a bona fide or worthwhile investment - it looks more like a Labcoin drag it out forever type scam to me.

[drawingthesun]

So what are you trying to say? That there are zero bona fide, worthwhile investments in the BTC space?

Even if the investment is valid, almost everything is crushed when compared to the investment that is Bitcoin itself.

[mainline]

...I think everyone understood this to be the wild west. That doesn't mean all issuers are scammers -- there have been BTC security success stories.

Sure.
There have been scratch ticket lottery success stories too.  Which doesn't mean investing in scratch tickets to make money is smart.
It's not.

Of course, if by "success stories" you mean traders making money, that has little to do with issuers not scamming.  Many people made serious coin trading Labcoin, which "investors" are beginning to acknowledge is a scam.

So what are you trying to say? That there are zero bona fide, worthwhile investments in the BTC space?

I'm not trying to say anything other than what I have said.  I wish I could dumb it down further, but there's only so much one can do.
Sometimes reading a passage several times brings better understanding, so maybe give that a shot?

*In case the simple logic of "The issuer needs not be a scammer for you to lose money" escapes you, that's also true.

Anyhow, we've strayed into semantic irrelevancy.  As an investor, you shouldn't care whether Ken will lose your money due to ill intent or honest American stupidity.
The main takeaway here is your money's gone, either way.

[Entropy-uc]

I still can't figure out why people thought that "investing" was sending sending anonymous currency to an unregistered company to buy "Shares" despite sec regulations. This wasn't high risk investing, this was fraud. Once you clear your head of the idea that maybe this was like buying lottery tickets, and realize that ALL OF YOU should be contacting the authorities and demanding ken refund your deposit value at the beginning, you will be able to agree on all these topics.

I think everyone understood this to be the wild west. That doesn't mean all issuers are scammers -- there have been BTC security success stories. story

Fixed that for you.  The only success has been Asicminer.  You can cherry pick buy and sell dates to claim others were good bets, but ultimately every issue except for Asicminer has left somebody holding 10 Kilos of shit in a 5 Kg bag.

[RickJamesBTC]

I'm saying it is NOT AN INVESTMENT. They aren't even allowed to offer this kind of "investment" as a US based company without being SEC registered, filling reports, etc. Why do you think your "shares" are now waiting until ken can talk to his securities lawyer???  Guess what, almost none of you are accredited investors, even offering shares to the general public as they did should violate a number of SEC regulations. I understand the enthusiasm to be a part of something, but come on. Where are the financial docs? Where are the reports? Where are the contracts, shareholder agreements, dividend details, etc?


Lottery tickets would have been a better way to throw your money in a toilet. Lottery tickets are not investing, they are gambling. Btw, gambling is illegal or highly regulated in this country as well.

[runam0k]

Thanks mainline - back on ignore.

Even if the investment is valid, almost everything is crushed when compared to the investment that is Bitcoin itself.

True, but I think that has more to do with the huge loss of confidence (and volume) after BF and BCTC shut (with lots of BTC lost or stolen) and securities laws and other regulatory considerations seemingly coming to the fore. Putting those things aside for a second, a well run operation with limited or zero exposure to fiat, should net you more bitcoins.

Fixed that for you.  The only success has been Asicminer.  You can cherry pick buy and sell dates to claim others were good bets, but ultimately every issue except for Asicminer has left somebody holding 10 Kilos of shit in a 5 Kg bag.

Point taken. That said PETA is currently up despite hardware delays, certain other mining ops look well positioned in terms of hardware coming online, CasinoBitCo.in seems like a really well run business (with recent acquisitions, no less), etc. Not wild success stories yet but a million miles away from Labcoin and this BS.

(I recognise I'm in the wrong thread to expect anything but extreme negativity - I have a small number of ActM shares too - so I'll leave it at that.)

[keepinithamsta]

I'm saying it is NOT AN INVESTMENT. They aren't even allowed to offer this kind of "investment" as a US based company without being SEC registered, filling reports, etc. Why do you think your "shares" are now waiting until ken can talk to his securities lawyer???  Guess what, almost none of you are accredited investors, even offering shares to the general public as they did should violate a number of SEC regulations. I understand the enthusiasm to be a part of something, but come on. Where are the financial docs? Where are the reports? Where are the contracts, shareholder agreements, dividend details, etc?


Lottery tickets would have been a better way to throw your money in a toilet. Lottery tickets are not investing, they are gambling. Btw, gambling is illegal or highly regulated in this country as well.

Honestly, I would've been significantly better off just going to the casino and blowing it at the high roller tables.  At least I would have gotten tons of comps.

[MrTeal]

It would have to be a redesign, but not much of one.

I am slightly wondering about the chip dimensions. You have stated that ActiveMining chip package dimensions are going to be 11mmx11mm. However I believe bitfury chip package dimensions are 7mmx7mm. The board seems fairly tightly packed with the 7x7mm chips. If you increase the size of package you would have to decrease the number of rows and columns of chips to make them fit. So I do not understand how this could be not much of a redesign as basically everything changes.

Changing the chip dimensions and even moving them around really isn't much of a change. It's a pretty simple respin of the board that wouldn't take more than a couple days, maybe one if you sat down and worked on it full time. As long as the interface and communications protocol is similar, the size of the chips is pretty much a non-factor.

[finlof]

It would have to be a redesign, but not much of one.

I am slightly wondering about the chip dimensions. You have stated that ActiveMining chip package dimensions are going to be 11mmx11mm. However I believe bitfury chip package dimensions are 7mmx7mm. The board seems fairly tightly packed with the 7x7mm chips. If you increase the size of package you would have to decrease the number of rows and columns of chips to make them fit. So I do not understand how this could be not much of a redesign as basically everything changes.

Changing the chip dimensions and even moving them around really isn't much of a change. It's a pretty simple respin of the board that wouldn't take more than a couple days, maybe one if you sat down and worked on it full time. As long as the interface and communications protocol is similar, the size of the chips is pretty much a non-factor.

his most recent post about the boards is that they would hold 24 ActM chips, not 32 chips like the board he has in the pictures.  we all know Ken has posted pictures of "product" that are not representative of their final states.  this appears to be one of those times.