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

[iCEBREAKER]

The ACTM ship has sunk, but the cheerleaders are still cheering in their reality-free bubble.

HashFast now has native CGminer support.  ACTM doesn't.

HashFast has released their revolutionary Golden Nonce Interface Protocol.  ACTM?  Crickets.

HashFast has an exclusive partnership with CIARA, to maximize assembly/testing/shipping capacity.  ACTM?  More crickets!

Ice come on! The eASIC thing is real, it might not pay off but its still on the table. How can we actually sink without the main product being tested? Yeah it might fail but none of us know that yet.

Anyway, do you really want to know why no one over in the moderated thread listens to you? Because you are heavily invested in the competition and thus have a bias to everything you say.

Also you are not invested in HashFast and I told you ages ago that was your error, now IceDrill is not doing so well and turning shares into a mining machine, the entire investment is certainly lackluster (I was also once a massive shareholder in IceDrill but got out a long time ago)

My mistake was investing in ActiveMining sure, but I definitely can't say for certain its sunk when we have chips around the corner.

You can easily sink without the main product being tested.

ACTM's pokey little 16GH chip is not a true 3rd gen ASIC.  It is not more efficient than KnC or BitFury, much less HashFast.

The difficulty has exploded while Ken fooled around deleting my posts and designing endless logos/hideous web graphics.

That's how your ship sunk before leaving the harbor.

I'm very happy to be getting hardware for my IceDrill shares.  Now I don't have to pay for hosting and reinvestment funds!

And I'd much rather have 1.2TH Batch One Sierras than any number of ACTM shares.

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[drawingthesun]

You can easily sink without the main product being tested.

ACTM's pokey little 16GH chip is not a true 3rd gen ASIC.  It is not more efficient than KnC or BitFury, much less HashFast.

We all know the ActM ASIC is not comparable to KnC, Bitfury and HashFast for efficiency. The advantage was meant to be the ability to order large amounts of chips on the go very quickly once the initial design was complete. That was the eASIC advantage, although admittedly the difficulty rises are leaving us behind and no one predicted this, even IceDrill shareholders had no idea.

Will the eASIC deal ever make us back? Possibly not, especially if we don't get over 100TH/s in the next few weeks. Like I said, startups, many fail.

Although a failed startup does not make it a scam.

I'm very happy to be getting hardware for my IceDrill shares.  Now I don't have to pay for hosting and reinvestment funds!

And I'd much rather have 1.2TH Batch One Sierras than any number of ACTM shares.

The trouble with getting hardware is that the only one who profits is the company that made the device. This is also my concern with the current climate in Bitcoin mining. The only people now making profits in Bitcoin mining are private companies. Bitfury, HashFast, etc....

I originally got interested in ActiveMining because I supported the idea of a public company that could take a piece of the pie.

I know everyone wets themselves over HashFast and Bitfury these days, but just remember who is making the real profits. Not the community, but a handful of private investors. I fail to understand the circle jerk surrounding these wealthy private concerns. I was wrong about Bitcoin, its not about the community and being decentralised for most people, its all about the money. I failed in my investments because I was naive.

[iCEBREAKER]

I expected a financial report. What more can I do?

The aggressive tone is not needed Ice, chill.

Lets assume I bought a share at 0.0005, its not stupid to expect a good return if eASIC delivers a large amount of chips.

Not sure how a badly run company and late order of experimental chips becomes a scam. Start-ups take investment money everyday and most fail, are they scams too? No. Invest in risky ventures with unproven founders and sometimes you will lose money, thats the way this scene works in Bitcoin and outside Bitcoin. To me it sounds like you would never risk money on a unproven person or unproven technology, which confuses me as you are obviosuly into Bitcoin.

VBS was never employed by ActM, so I doubt he has to worry about anything.

Not sure why you are hostile to unlicensed security scheme's all of a sudden, it was ok when you was investing in Ice, but ActM is not ok?

Double standards really do not paint your argument well.

Ice, you are throwing shit at the wall and your points are badly made or simple too overly aggressive as if I have hurt you. I don't understand why you are wasting your time here.

Hi Sun,

I know you expected a financial report, but you should have learned from previous ACTM failures and known better.  Do less expecting, not more.

eASIC can deliver slow, obsolete chips for a million years.  If nobody buys them, it's stupid to expect a good return.

Start-ups get venture/angel capital, which involves oversight and accountability.  ACTM has zero oversight and zero accountability, because it raised capital using illegal securities.

There is no aggressive tone here bro.  I'm simply making my points as explicit as possible.  Your (all too common) mistake is to conflate disagreement with aggression.

VBS may not have been formally employed by ACTM but he was on the Board, provided rosy profit projection spreadsheets, and induced Americans to purchase ACTM shares on unregulated exchanges.

He could at least have the decency to show up, admit being wrong, and apologize to those his idiocy cost time/money.

Unlike ACTM, IceDrill is not a US-based company.  It's incorporated outside the US.  It's principles live outside the US.  It's assets are also outside the US.

Bringing IceDrill into a discussion about ACTM is "throwing shit at the wall and your points are badly made or simple too overly aggressive."

Stop wasting your time fretting over your failed ACTM investment.  Write it off and move on.  Don't worry, we all make mistakes.

[iCEBREAKER]

i CAN confirm that i received this from Ken in a PM.  assume what you want to assume from this reply.  cheerleaders will cheer it as proof that it's eAsic chips that he cant talk about cause of NDA, trolls will say he's being ambiguous cause he hiding the truth about buying from other companies, and i say that it gives us no real info either way.  it's just Ken's classic communication.

can you confirm or deny whether the additional hashing (not the klondikes or the initial avalons) are from Activemining chips (samples/demos/etc) or whether they are from 3rd party hardware (KNC, Bitfury, new Avalons, etc)?

We will be making major announcements in November.

If the eASIC is done with the chips, the NDA is over.

Maybe Ken's "major announcement" will be that he took my advice in August, got a refund from eASIC, and bought a bunch of HashFast/CoinTerra chips instead.

I truly believe ACTM's core competence is provision of hosted ASIC mining (not marketing/sales/R&D/chip design).

It sucks for ACTM investors/customers that they gave Bitcoins to ACTM right as the sun was setting on the era of one-guy-in-his-garage ASIC firms.

[drawingthesun]

Hi Sun,

I know you expected a financial report, but you should have learned from previous ACTM failures and known better.  Do less expecting, not more.

eASIC can deliver slow, obsolete chips for a million years.  If nobody buys them, it's stupid to expect a good return.

Start-ups get venture/angel capital, which involves oversight and accountability.  ACTM has zero oversight and zero accountability, because it raised capital using illegal securities.

There is no aggressive tone here bro.  I'm simply making my points as explicit as possible.  Your (all too common) mistake is to conflate disagreement with aggression.

VBS may not have been formally employed by ACTM but he was on the Board, provided rosy profit projection spreadsheets, and induced Americans to purchase ACTM shares on unregulated exchanges.

He could at least have the decency to show up, admit being wrong, and apologize to those his idiocy cost time/money.

Unlike ACTM, IceDrill is not a US-based company.  It's incorporated outside the US.  It's principles live outside the US.  It's assets are also outside the US.

Bringing IceDrill into a discussion about ACTM is "throwing shit at the wall and your points are badly made or simple too overly aggressive."

Stop wasting your time fretting over your failed ACTM investment.  Write it off and move on.  Don't worry, we all make mistakes.

I might respond to your points tomorrow as right now I am falling asleep at my keyboard. (Blame assignments keeping me up.)

Some points you make are good, but I wanted to address this before I log off for the night/morning:

There is no aggressive tone here bro.  I'm simply making my points as explicit as possible.  Your (all too common) mistake is to conflate disagreement with aggression.

How stupid must one be to expect anything except complete financial loss from ActiveScamming?

I got an aggressive vibe from this, I don't think I am conflating much. :p

Stop wasting your time fretting over your failed ACTM investment.  Write it off and move on.  Don't worry, we all make mistakes.

Well I have a value of x right now that could be worth x++ in a month or x-- in a month, so until then I am glued.

[iCEBREAKER]

Financial report?

It's not going to happen.

But if it does happen, it will be terrible news.

[Vbs]

So no financial report?

Are you kidding?

How stupid must one be to expect anything except complete financial loss from ActiveScamming?

You actually thought there was going to be a financial report?

That's cute.

I suppose you also think VBS is going to update his failed ActiveScamming profit projections?

Too bad VBS ran away a month ago.

VBS is desperate to cover his ass from the inevitable repercussions of his aiding and abetting ActiveScamming's fraudulent unlicensed security scheme.

He could apologize to his victims at the very least.  What a coward!

You seem to have a permanent knack to manipulate everything...

My original estimates were targeted at the short to medium term profit which was based primarily on the delivery of 20k Avalon chips and made sense until Ken decided to cancel those orders and ask for a refund.

At that point I decided to stop doing more, as: (1) without quantities, (2) more concrete dates for eAsic hardware delivery and (3) correct sales revenue, they would just turn into 100% speculation and I didn't want that.

Even so, all my estimates specifically described the scenarios and conditions they were based on, as thoroughly as possible, with the available info at the time they were made.

[iCEBREAKER]

You seem to have a permanent knack to manipulate everything...

My original estimates were targeted at the short to medium term profit which was based primarily on the delivery of 20k Avalon chips and made sense until Ken decided to cancel those orders and ask for a refund.

At that point I decided to stop doing more, as: (1) without quantities, (2) more concrete dates for eAsic hardware delivery and (3) correct sales revenue, they would just turn into 100% speculation and I didn't want that.

Even so, all my estimates specifically described the scenarios and conditions they were based on, as thoroughly as possible, with the available info at the time they were made.

Hooray, vBS is alive!

Thanks for showing up.  The cheerleader squad really sucks without your leadership.

It would be very easy for you to update the projections.  Simply replace all the revenue projections with zeroes!   

PS Your warm fuzzy projections were always 100% speculation, as cold hard reality has amply demonstrated.   

[iCEBREAKER]

Due to the Klondikes showing up this week after being ordered for 5 Months and the deployment of other resources for mining, we are going to delay our
P & L and Balance sheet reports until the 15th of November.

Good job stringing the cheerleaders and true believers along for a little while longer.

Amazing Company!   

[iCEBREAKER]

He could apologize to his victims at the very least.  What a coward!

That certainly isn't enough. Any member of that "advisory board" should be considered a scammer.

Nah, Vbs is good people.  I just had to give him enough of a hard time sufficient to goad him into speaking up.

The rest of the cheerleader squad is a different story...

[coinfresh]

oo cool. circlejerk time. can i join guys? /sarcasm

[iCEBREAKER]

oo cool. circlejerk time. can i join guys? /sarcasm

You want the other thread for that.  This is the non-cheerleader one.

[crumbs]

To be fair, Ken's an adequate businessman.

Perhaps not as adept as the mysterious Sam Noi of Labcoin, but noteworthy nevertheless.

His strengths are creative transitioning from seemingly failed ventures (with ugly endgames) to stunning, bold new creations, just bursting with win.

The seamless segue from VMC, an enterprise with nothing but debt & fail, to ActM -- a refreshingly abstract virtual identity [sic] stands as a solid testament to Ken's creativity.

VMC, an established failure & a liability to a lesser man, was transformed by Ken into ActM, with VMC bagholders given a second lease on life via a *second* IPO & creatively worded prospectus.

Wait...  How did that???  Wha?  

The goals of alchemy pale in the presence of such  transformative magic.
Watch, aspiring bitcoin entrepreneur, study and hope to someday emulate.
Ken Slaughter FTW!

[lobbes]

Ice and/or Crumbs,

If you believe ActM is truly dead in the water, why do you spend so much time beating a dead horse? There's no real liquidity at this point, so anyone taking this ride is either going to sail to shore or go down with the ship.

[drawingthesun]

Ice and/or Crumbs,

If you believe ActM is truly dead in the water, why do you spend so much time beating a dead horse? There's no real liquidity at this point, so anyone taking this ride is either going to sail to shore or go down with the ship.

Maybe they are large holders and want the share price low for as long as possible, to buy more!

/Jokes

[crumbs]

Ice and/or Crumbs,

If you believe ActM is truly dead in the water, why do you spend so much time beating a dead horse? There's no real liquidity at this point, so anyone taking this ride is either going to sail to shore or go down with the ship.

This dead horse insists on crawling out of the lime pit & dragging its stinking rotting carcass all over mah nice Bitcoinworld.

Zombie horses feed on my helpless Little Ones, so Ah'ma charging mah wooden stake & gassing up my F450.  Hope to make it to the glue factory before sunset.
Wish me luck & God Bless.

Edit:  Little Ones = ActM "investors"

[iCEBREAKER]

Dividends MIA.

Financial report MIA.

Chips MIA.

Amazing company! 

[crumbs]

But do they ever listen?  What's a mother to do?

A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

It may even improve liquidity as people deal p2p on the forum who are currently spooked by the exchange

This is pretty funny to think about... Bitfunder has screwed itself over so badly that direct shares could actually improve liquidity. Good luck getting a response to support requests if anything goes wrong with your account, too. Direct shares don't have that issue.

Important Notice (November 4, 2013)
 
Please be advised that BitFunder is ceasing operations. ...
Thank You,
Ukyo

[lobbes]

Great news, everyone!

I'd imagine this is what all the bitfunder assets look like right now  

"Centralized Bitcoin stock exchange" sounds like an oxymoron anyway...

[crumbs]

Active Miner becomes a laughingstock.  Ken deals with this in his usual fashion -- delete fucking EVERYTHING!!!

A reply of yours, quoted below, was deleted by...

Smile everyone, you're famous!

ActM is used by TaT as Failstock poster child:

...
Are you familiar with ActiveMining/AMC/VMC's history. They are a good example.

What you get is a business being distracted with writing a poor prospectus, and setting up poor IPO plans. Then they break the IPO plans and become/create victims of their prospectus, etc. In this specific case there were also instances where the CEO provided arbitrage opportunities to select shareholders as an incidental service for personal benefit.
...

Edit: Follow-up for extra lulz, from your ex-boardmember:

Tat, that's just basic mismanagement. You can't use that as an example.

I obviously dealt with Ken directly and whilst I wish him all the best, my view on his business skills could not be written here because children may be reading.
...