[Active Mining] The UNofficial Active Mining Discussion Thread [UNmoderated]

[minerpart]

To be fair, the points I make are not facts, they are mostly opinion and that isn't difficult to admit.

Sure, but remember I said your 'points are based in facts' so was meaning your opinions are formed from facts as opposed to conjecture or made up stats - so meaning they are worthy opinions. You have done a good bit of research and are paying attention to what is being said, more so than most of the vast majority of the bag-holders. It's so easy to go along with the dream when the reality is painful to take, so easy to live in denial as we see in most scams or terminal situations.

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[bitlind]

To be fair, the points I make are not facts, they are mostly opinion and that isn't difficult to admit.

Sure, but remember I said your 'points are based in facts' so was meaning your opinions are formed from facts as opposed to conjecture or made up stats - so meaning they are worthy opinions. You have done a good bit of research and are paying attention to what is being said, more so than most of the vast majority of the bag-holders. It's so easy to go along with the dream when the reality is painful to take, so easy to live in denial as we see in most scams or terminal situations.

Sorry was reading from my phone, now that I am at my PC I see now.  Sorry had a version of my own KenScam senior moment.  Garsh I should go get checked out!

[RoadStress]

<rant about the latest answered questions>

Good job! I planned to do something like this too, but I was too busy to do it. The latest answers are just retarded and I don't understand how come the investors don't see anything weird about them. The evading in the answers is screaming such a big incompetence.

[bitlind]

<rant about the latest answered questions>

Good job! I planned to do something like this too, but I was too busy to do it. The latest answers are just retarded and I don't understand how come the investors don't see anything weird about them. The evading in the answers is screaming such a big incompetence.

Thank you for the kudos, but I couldn't have had such a rant without the help of KenScam SlaughterFail™. 

[RoadStress]

Are there any tangible proofs regarding People's ASIC? Because I haven't seen any and just like the other deals ken prefers to keep his investors in the dark. From the eASIC deal we saw nothing but a signed NDA which could be for anything. Haven't seen any other proofs, as for numbers I don't think we will ever see any of them except what ken will say, but he can easily lie.

I still don't understand how come all the other ASIC manufacturers are sharing details, but ken is the only one that CAN'T share anything and has everything under NDA. Nobody is like this! I wonder why.

[lobbes]

Good post, bitlind.

In my opinion, any bag-holder should be heading towards the exit at this point.

There is no evidence of a proprietary chip coming from ActM anytime in the foreseeable future. The company's reputation is in the crapper, mostly due to horrible customer service. Several suspicious activities such as unsigned refund checks, among other things. Not to mention the MSD investigation.

I'm happy I got out with something, although I am upset that I was unable to sell for almost 6 months while I watched this thing be horribly mismanaged.

People will start to smell the coffee and either call their own lawyers, or contribute to the Woodlaw investigation which will hopefully lead to a class action. Will be interesting to see how this plays out, but I hope no one else gets tangled up in this mess.

[bitlind]

Are there any tangible proofs regarding People's ASIC? Because I haven't seen any and just like the other deals ken prefers to keep his investors in the dark. From the eASIC deal we saw nothing but a signed NDA which could be for anything. Haven't seen any other proofs, as for numbers I don't think we will ever see any of them except what ken will say, but he can easily lie.

I still don't understand how come all the other ASIC manufacturers are sharing details, but ken is the only one that CAN'T share anything and has everything under NDA. Nobody is like this! I wonder why.

I have not seen any tangible proof and I would not expect there to ever be any proof of what KenScam™ does or any deal, lack there of, signed or created.  Such acronyms as NDA™, MSD™ and CPA™ are not actually what you think and are used to confuse.  I suspect, Not Doing Anything, Mining Scam Directive and Can't Produce At-all are potential definitions for the abbreviations.  Here is another one for KenScam™ - c.u.n.t (Can't Understand Normal Thinking).

Here is the thing with KenScam™ and the refusal to be transparent -> if he were to be transparent, then everyone, all shareholders and bitcoiners alike, would be unable to deny the magnitude of his deficiencies.  Even MarkScam bowed in shame, looked at the ground, and at the very least outwardly gave the illusion the he acknowledged the shame upon his name.  SlaughterFail™, in all of his arrogance and superiority, may indeed recognize his shame, but he will do everything in his power to keep that shame from the public eye.  The way to accomplish that is to lock up all information in a safe, tint the window panes into his operation and distract you with shiny objects and toys (his announcements).

@all - humor is the only way to deal with ActiveScam™, and if you look at it as a whole, it is tragically hilarious.  I feel sorrow for those wrapped up in this, I am sure a lot of people lost a ton of money on this man and his vision.  If only you knew those visions were of grandeur and based upon his dementia.

[bitlind]

The same question/request in different form, from another investor, on a different day, and the crickets are chirping.  A financial report could be issued at some point, but any senior can put together a legitimate looking spreadsheet by punching any numbers into cells.  The only verifiable numbers are mined coin, sales numbers are difficult to verify, salaries and the illustrious "miscellaneous" expenses will never be verified.  So, in short, if you received a financial report, would you believe it in its entirety? 

Where there is doom and gloom, I see opportunity for him.  If he is truly in a confident position and feels good about ActiveScams future, providing detailed financials, screen grabs of the books coupled with his future plans and projections, people might not be so gloom and he would increase confidence/sentiment/legitimacy.  If he is using some small business box software like Quickbooks, he can easily provide those grabs without divulging sensitive information that only internal accounting personnel should see.

We need more information regarding the amount of money refunded from eASIC, the amount of combined funds (BTC and USD) AMC/VMC currently holds as well as liabilities waiting to be paid out.

This is dire information. May you please release some numbers or even a rough Microsoft Excel "rundown" prior to hiring an accountant to prepare and audit a professional and tangible set of books.

Shareholders, trolls, cheerleaders, speculators and random passer-bys have been waiting since 2013, far too long. If you truly want to separate VMC ( and AMC) from any BFL comparisons, like you mentioned when someone suggested using BitPay, then you would give everyone some financials.

Everyone knows the overwhelming situations and pressing timelines the companies are facing. But there are 7 days in a week and 24 hours in a day, please manage some time to update us on these continually promised financial reports with actual figures.

Many people dont even care how detailed or precise the info is as long as this "rough draft" is provided, considering it would be better than nothing.

[lobbes]

...
Where there is doom and gloom, I see opportunity for him.  If he is truly in a confident position and feels good about ActiveScams future, providing detailed financials, screen grabs of the books coupled with his future plans and projections, people might not be so gloom and he would increase confidence/sentiment/legitimacy.  If he is using some small business box software like Quickbooks, he can easily provide those grabs without divulging sensitive information that only internal accounting personnel should see.
...

So, he is either stalling or he is very unorganized in terms of bookkeeping.

[VolanicEruptor]

wow you guys are still discussing activemining?  I thought there was nothing left?

[bitlind]

wow you guys are still discussing activemining?  I thought there was nothing left?

There is always something to discuss with them because they provide hours of comedy, for example KenScam™ response below.

Ken this needs adressing.

It's getting to a point now, within this long drawn out process that I'm starting to disbelieve everything you say.

I've been an avid supporter for almost a year now.

You  are not treating our invest and trust in you and ActM with any outward facing business acumen.

Sparky has questioned exactly what I was going to as I've been good at keeping my feelings to myself, however; that is unfortunately changing by day the day with ActM.

Shares which were transferred to the issuer by bitfunder will be automatically transferred to CT after the AMC-TENDER shares have all be verified and transferred.

Why has the website still not been updated? You said it was a top priority more than 10 days ago and still nothing. It is a 4-6 hour job to re-do that site not a 10 day job.

Why has the extra hash power not been added to the DC yet? You said once the AC was fixed (which you have since said it has been) it would just be a case of flicking the on switch as everything was set up already, was this just another lie?

Do you have any comment on the equipment that is just sat idle depreciating in value by the day?

We are working on something else more important.

ScamHash™! 

[minerpart]

lol what is more important than selling in-stock goods that are quickly devaluing?

This is a business isn't it?? So WHAT is more important than making money on current stock?? NOTHING.

Avoiding court cases perhaps?

Basically Ken is saying we can afford to discard 300 cards (as well as our reputation) at close to 250k USD.

Does anyone believe that when we can't even afford to refund our own customers?

This is a genuine OMFG comment Ken.

You have been promising something big for 10 months. And if you did have something big you have shown time and time again that you would not be capable of handling it. You can't even fix a website when it's a few hours of work!! How stupid do you think your shareholders are?

[theMiracle]

...How stupid do you think your shareholders are?

Stupid enough, it seems...

[bitlind]

Someone mentioned that KenScam™ probably has the missing hash rate pointed at a separate address and is siphoning off BTC discreetly with the gear that these poor souls assume he doesn't have deployed and it depreciating in value hour by hour.

ZumZero and Vince hopefully will receive the same wrath as KenScam™ when this company dissolves and liquidates.  I suspect Vince and Zum will disappear when this happens, and will create new accounts so they can participate in this community without the stigma of contributing to this buffoons scamming enterprise.

[minerpart]

Someone mentioned that KenScam™ probably has the missing hash rate pointed at a separate address and is siphoning off BTC discreetly with the gear that these poor souls assume he doesn't have deployed and it depreciating in value hour by hour.
 

OK I get it now. So he doesn't want to sell these cards because he is mining with them for his own pocket, that's why the website remains unfixed.


Fucker.

[drawingthesun]

I'm not sure about that theory, Ken keeps reducing the price in his signature, if he wanted cards for himself he wouldn't do that.

[minerpart]

I'm not sure about that theory, Ken keeps reducing the price in his signature, if he wanted cards for himself he wouldn't do that.

I'm not so sure, they are not selling anyway because of the terrible reputation we have and the website and the EXTREMELY poor customer services. He might be reducing the price to appear like he wants them to sell but in reality he knows they wont sell even at 899USD.

And the Prospector is still at 2k so they definitely WILL NOT sell.

EDIT - The remaining 163 500GH/s cards have clearly been priced above the market so that they will not sell. They are over 1kusd more expensive than out Gold 750GH/s cards. Ken must be mining with them for his own coin. Vince said his board had thermal paste remains on it which may have been a burn in test or it may have come from Ken's private farm.

[NotLambchop]

Someone mentioned that KenScam™ probably has the missing hash rate pointed at a separate address and is siphoning off BTC discreetly with the gear that these poor souls assume he doesn't have deployed and it depreciating in value hour by hour.

ZumZero and Vince hopefully will receive the same wrath as KenScam™ when this company dissolves and liquidates.  I suspect Vince and Zum will disappear when this happens, and will create new accounts so they can participate in this community without the stigma of contributing to this buffoons scamming enterprise.

Nah, they'll hang around, just like Bargraphics.  Who remembers TerraHash anyhow?

[bitlind]

I'm not sure about that theory, Ken keeps reducing the price in his signature, if he wanted cards for himself he wouldn't do that.

You do understand he has to give the illusion of not scamming you right?  It appears he wants to sell them by reducing the price, but that is trumped by the website, his horrible mismanagement, lies, and disdain for his current customer base by insulting them.  When he does sell a board, it takes 5 weeks or more to get there, or comes DOA.  He is mining with them into his own pocket, then shipping or deploying them to the companies DC.  Try to not be so naive and think critically as well as outside the box, I do not mean this as an insult, hope can bring on the blinders.  Clearly this operation stinks to high hell, any plausible explanation can and will be the correct one.

Trade with caution.

Update [May 9 2014]
Of the 31 known Prospector boards ordered from VMC:

15 Delivered are dead on arrival - still waiting for replacement - (computerjesus/ Kodemadge)
4 delivered and working. (2 to bargraphics & 2 to 'unknown user')
5 Delivered - waited 30 days - all  confirmed working (emjay47)
6 ordered by rogerli9 (ordered 2014-04-11) delivered 25 days late
1 orderd by VinceSaimos - took 5 weeks to arrive - working ok.

Refunds:
@Magzy- 2nd Refund check arrived - awaiting clearance at bank.

@metalchain - Still waiting - I sent PM to Ken many times. He always reply to me "We will ~~, ASAP~~~, Quickly~~~, next week~~~"

@cryptoconomist- still waiting  - "Two weeks ago on a Friday I spoke to him again and he  literally promised me he was going to ship my order on the following Monday, but haven't heard from him. Since then, when I log into my account, my initial order has now been moved to "refund" status and my new order to "cancelled" which contradicts what Ken and I discussed.  I wrote so many emails to him and to the Active Mining threads but my posts keep getting deleted"

@meccaflare0 - still waiting "ken owes me like $x"

@greek_hephaestus - unknown  -"Thank you very much Magzy for your suggestion . I will do it in a few days. [contact the AG] First I send one more message to VMC. Thank's again."

@coindesk - http://www.coindesk.com/mining-hardware-companies-miners-roundup/

@lenart_o - I'm waiting for refund [of $10k] since february this year there is no chance to get back my money?? I'm from Poland and I don't have idea how to  get back my money . I was stupid and I was belive in company with no proof now I'm without money

...

[bitlind]

I'm not sure about that theory, Ken keeps reducing the price in his signature, if he wanted cards for himself he wouldn't do that.

Vince said his board had thermal paste remains on it which may have been a burn in test or it may have come from Ken's private farm.

Oh yes, I remember this and I actually chuckled over this.  Vince believes KenScam did a burn in test, the same KenScam that mismanages everything, can't remember to sign all the first and second refund checks, the same KenScam that had an accountant, then didn't, but did, and was releasing financials, but not, because he wasn't hired yet.  The same KenScam that had a web designer, Genius, duh, that was working on the site, while he is looking for a web designer.  By all means, that same KenScam did burn in runs with your boards Vince, yeah that is it, he was doing this service for you.  Laughable, they came out of his rack Genius, they were already mining for him! 

Those who had DOA boards... hmm, they had no thermal compound on them, thus no burn in right?  Just shipped DOA boards, Vince must get 'da special treatment!  Had to make sure your sock puppet received a working board, pull from the rack!

Open them eyes ActiveScam investors!