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

[VolanicEruptor]

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Quote from: bitlind on April 17, 2014, 03:27:37 PM
I have been a shareholder since the "second IPO" at .0025, I consider myself a small shareholder at just under 5 figures, and Actm is less than 10% of my investments.  I almost never post in any forum on the net but I had to register and post after this latest update just because it was so comical.  Some words come to mind with this latest update, such as 'what a joke.'

If you take a step back from all of this and analyze the updates at their entirety, you see a pattern of deception.  With out going into the absolutely bold face lies from the past, looking at the most recent examples: "you have an accountant" when shareholders were calling for an audit, and also stated that at "the end of the month" detailed reports would be released.  Now, it is Ken saying he is "getting an accountant" to work on the books.  On April 2nd you stated that "I will be working with our CPA next week to get our books in order and pay any taxes that are due."  This infers you have had one for some time, never mind the fact you have said prior to this date that you did/do/had/looking/found one.  So which is it, you have one or you don't?  Digging through this mound of crap, one can determine you are full of it and most likely do not have any CPA representation.  If you did, those questions on financials would have been answered long ago.  Actm is in a niche market, there isn't 1000s of different products being pushed out the door, it is not in several different market spaces where different tax laws and accounting procedures need to be introduced.  Actm is in one space, bitcoin, mining and selling.  If a CPA were truly working on "the books" for this long, at the very least a summary report and profit forecast model would have been created.

The lawyer mirage.  Ken has said time and time again that his attorney is working with the MSD regarding the legality of shares and your shareholders.  Ken has always portrayed this as a slippery slope, which I would agree it is very much so.  However, during Kens excuses for why long term shareholders cannot get trading, day traders and even Ken himself have traded shares on Crypto Trade (Ukyo shares).  If the MSD investigation is such a sensitive element to the game right now, I can almost guarantee that Kens "attorney" would have suggested all trading be halted, if there was to be any suggestion around share trading, not some of the shares trading across exchanges, but all trading ceasing IF it was an issue.  Considering that this is an unlicensed security on the current unlicensed exchanges, and the vagueness of US law, it is clearly a grey area, so one would assume if the advice was given to not allow us our shares, all trading would be stopped.  However, this is not the case, and even the "CEO" traded shares of his security, belonging to another investor (Ukyo), to recoup losses on this shareholders exchange by placing a legal "lien" on his shares.  Is there any proof of this lien?  nope.  Isn't that considered unethical, to trade as we are now?  Some can, most cannot?  Never mind the fact that I could never see an attorney advising you; "No Ken, do not allow the majority of your shareholders who were from the defunct exchanges of bitfunder and btct to access their shares because of the MSD investigation.  However, go ahead and issue/release/confiscate shares from a shareholder who you say owes you coin (Ukyo) and place them on another unlicensed exchange, sell them to the masses, and allow these shares to be day traded.  No, it won't cause an issue in the eyes of the MSD, SEC, or FinCEN, only the past shares will."

If Ken had an attorney, the advice would not have lead to him allowing some shares to trade, while at the same time allowing him to trade his own shares (Ukyo lien).  He/she would have advised him to cease all trading or to continue trading, not this one foot in one foot out scenario we find ourselves in now. I am not claiming this to be 100% the case, but can we not agree it seems odd that the attorney would deem this ok in its current form?  Common sense eventually has to take a precedence over blind faith.

The trading promises.  Over the last 5 pages of Kens latest posts, he has lead us to believe no less than 5 different times that he would be getting the shares up and trading for us either soon or next week.  This is just the last 5 pages going back to March 28th.  If we go back even further, we have heard him say at least 8 times that he was getting the verification site/process uploaded/finished/available over the last two and a half months, and countless references that trading will start soon.  The man cannot even verify that we own the shares, or chooses not to.  On March 30th Ken had the gall to say he has always been honest with his shareholders, even though we can all go through his post history and dig up countless lies or deception.  Ken, do you really feel it is honesty to withhold information, lead us astray and make false promises?  It is still untruthful even if you steer the truth into a lie later, or omit to telling the truth in the first place.  This is what he has done with our shares, and has continued to drag out this process for some reason other than the MSD issue.  I am starting to think he doesn't have the asset list, it was asked for a while back, he said he had it, but didn't produce it.  I want to state explicitly I am not at all wanting my shares just to trade, I actually do not want them on Havelock or CT, I would much prefer Counter Party or something of the like.  All I really need is to be able to verify they are my shares!  That is it, no trading, just verify.  Is the MSD stating I cannot do this?  No they are not.  So let us verify please sir.  Though, considering we do not have a verification site, and we keep getting the run around on empty promises, all we can assume is that the deception at play here means he cannot verify the shares, lost the list, and we are only able to verify by screenshots.  Hope you all took those!

The positives.  Praise and criticism surely come hand in hand with any success or failure.  Ken has done a significant 180 in his bid to create a competitive mining farm.  I never felt this was a scam and still do not see it as such.  There have been some large hurdles to overcome in the process over this last year, and Ken has been able to accomplish some of his goals in this instance, to that we give him kudos.  The road map is still long and there are still many things for him to complete.  The positives, however, are far outweighed by the negatives that are self created, namely with the shareholders and investors in his ambition.  These negatives are not hidden or swept under the rug by the positives achieved in his endeavor.

I am not foolish to think that Ken will actually read this post and take it to heart.  He will not change his tune by my voice or yours, and this post is subject to deletion because it has negative overtones, whether they be real or not.  In the end, TLDR; the blundering incompetence and down right misinformation being spread by this CEO is astounding.  It's actually an amazement to me that Ken has been able to accomplish anything with how far in over his head he truly is from a PR standpoint as well as an investor confidence stance.  To continue this charade of blatant misinformation regarding the shares, the MSD, the legal council, the CPA and financials and the current trading situation is not only reckless it is insulting.

I find it also some what amusing that the usual confidence building, Ken can do no wrong, suspects, are silent on this latest update.  Normally the process is for Vince, Zum, Bara and the like to follow Kens usual update with lines support.  I will admit I do love the confidence these guys have, and I have followed in step with them for some time.  I commend them on their hard work and faith, and I am not joking or being facetious.  But, even they cannot distract nor find a positive light shining in this filthy update just released by Ken, so they remain quiet, and I understand why.  Even they consider this to be a daunting update, as do the rest of us.  It is right there in black and white, and it cannot be denied.  The misinformation, failed promises, and outright lies are like a slap in the face to them as well.  We are all in this boat together, albeit sinking from a shareholders perspective.  The only person profiting from this is Ken, while the rest of his shareholders stir up emotion on this forum, bikker and go toe to toe.  For Ken that is a welcome distraction away from the limelight shining upon his ineptitude, while he can continue doing what he does.

As I see it, right now if we stay within the cage Ken has said we must be in, the least that can be done is verify our shares.  This will help a lot of us in terms of confidence, because right now I do not own my shares, AMC-TENDER does, and I have no legal right to them.  If we verify, I am sure a lot of us can look past these indiscretions for what they are and move on.  After restoring confidence with share validation, the next equally important, if not more, is to verify your financials.  We have a right to see where our money has gone, been lost, spent and stored.  In doing so, these two steps would create bullish sentiment amongst all of us.  I don't know who has Kens ear, but someone needs to spit in it and get the ball rolling on these two very important details.

If Ken continues this volley of feces week in and week out, eventually something is going to break, and we do not want that, we will all suffer.  I am surprised some of you haven't snapped already and taken matters into your own hands considering some of the ugly posts I have seen from Actm shareholders.  People get worked up over money and wealth, it will only be a matter of time with a world full of crazy investors and wealthy hungry individuals.



We could use you on our team.  I'll pay you for your efforts of compiling a case against the Slaughter Family.  PM me.
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Loving the attention, keep it up!   Cheesy  I feel like rodney motha fuckin' KING!    Grin
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oh btw that $5000 was discovered by another investor because he noticed a difference in shares issued between BF and BTCT.  Someone actually phoned Ken about it and it was him who opened his mouth about it that it was me.  Wink

That was not the shadiest deal that ken did with me btw. 

[1714004781]

1714004781

[RoadStress]

So, where are the 5000 boards?

Question is when will shareholders gain what they invested almost one year ago...

[drawingthesun]

So, where are the 5000 boards?

Yeah this concerns me a lot.

Our hopes mainly rested on getting this '2-4PHs' online or sold.

If this doesn't happen soon 4PHs will be 0.001% of the network in just a few months and 4PHs will make 0.1 bitcoin per day.

My calculations show we need to add 10PHs per month by early 2015 just to maintain 1%

[drawingthesun]

So, where are the 5000 boards?

Question is when will shareholders gain what they invested almost one year ago...

We need to step up income by at least 20 times to have any chance of getting ROI.

[magzy]

So, where are the 5000 boards?

Question is when will shareholders gain what they invested almost one year ago...

We need to step up income by at least 20 times to have any chance of getting ROI.

How about me being refunded before you take over the world?

[drawingthesun]

So, where are the 5000 boards?

Question is when will shareholders gain what they invested almost one year ago...

We need to step up income by at least 20 times to have any chance of getting ROI.

How about me being refunded before you take over the world?

Haha you know I have advocated many times that Ken take all the money from this mining gear on http://eligius.st/ and pay out to all the customers requiring refunds first. I have mentioned this many times.

[NotLambchop]

^
If Ken really did sell the $6 mil. in pre-orders like he has claimed, he's got some serious mining to do...

[RoadStress]

So, where are the 5000 boards?

Question is when will shareholders gain what they invested almost one year ago...

We need to step up income by at least 20 times to have any chance of getting ROI.

I tried to warn you people for a long time, but everyone kept supporting ken. I don't think it will last much. He has no chip project going and he is using 3rd party chips/hardware while this wasn't the initial plan.

[drawingthesun]

So, where are the 5000 boards?

Question is when will shareholders gain what they invested almost one year ago...

We need to step up income by at least 20 times to have any chance of getting ROI.

I tried to warn you people for a long time, but everyone kept supporting ken. I don't think it will last much. He has no chip project going and he is using 3rd party chips/hardware while this wasn't the initial plan.

I feel like DeJa Vu with you. I'm sure we have had the conversation: "I warned you! --> I know, but I am already invested and the exchanges have been closed!"

I haven't been in a position to do anything for a very long time. I have been wanting out for six months but Ken has issued a trading block and there seems to be nothing we can do about it.

[NotLambchop]

Buying HashFast boards is not a plan but an exit strategy.  The coup de grace to make Active Mining look like a honest failure instead of a scam.

@drawingthesun:  You were warned before you "invested," while you were "investing moar" on the way up, and sure, now it's too late.  The trick's listening to advice of your betters, instead of calling them trolls, shutting your eyes, and hoping for the best.

[drawingthesun]

Buying HashFast boards is not a plan but an exit strategy.  The coup de grace to make Active Mining look like a honest failure instead of a scam.

@drawingthesun:  You were warned before you "invested," while you were "investing moar" on the way up, and sure, now it's too late.  The trick's listening to advice of your betters, instead of calling them trolls, shutting your eyes, and hoping for the best.

I only got involved heavily in the ActiveMining thread and read Crumbs warnings after I had amassed my large number of useless shares and then I was too scared to sell at a loss. (A loss being 200 bitcoin)

Yep, I know I'm an idiot. But I wasn't buying up tens of thousands of shares during the time I was talking to the critics of this company.

[Phildo]

Buying HashFast boards is not a plan but an exit strategy.  The coup de grace to make Active Mining look like a honest failure instead of a scam.

@drawingthesun:  You were warned before you "invested," while you were "investing moar" on the way up, and sure, now it's too late.  The trick's listening to advice of your betters, instead of calling them trolls, shutting your eyes, and hoping for the best.

I only got involved heavily in the ActiveMining thread and read Crumbs warnings after I had amassed my large number of useless shares and then I was too scared to sell at a loss. (A loss being 200 bitcoin)

Yep, I know I'm an idiot. But I wasn't buying up tens of thousands of shares during the time I was talking to the critics of this company.

You need to give Ken a reason to do what you want/need him to do.

[sporket]

Precious

I know this post will be controversial but I'm going to play Devil's advocate.  We don't need a financial report and shouldn't see one for the next three months.   Here's why;

We don't need a financial report to see how little money ActiveMining has.  That information has been posted in the last few pages with links.  We don't need a financial report to prove that Ken is doing what he says he is because the Data Center has a climbing hashrate and small numbers of miners have been reported in the wild.  We don't need a financial report to know that the company's situation is precarious and are we essentially living from hand to mouth to stay afloat.  Whatever money we did have has been invested in the FastHash chips and hardware and the cost of setting up the Data Center.  There has not been any money to continue with developing our own chip.  That's a fact.  In order for ActiveMining to succeed over the next few months we need to sell many miners but crucially we also need the next Bitcoin wave of adoption to happen.  Without a substantial rise in the value of Bitcoin we are totally sunk.  

So with a financial report what we have is evidence to back up everything I've just said.  Can you imagine the reaction on this thread as people vent their anger and frustrations when they realise how we are barely keeping our heads above water?  I think Ken is doing a fantastic job and will keep on fighting well after most shareholders have totally given up and for all his faults, he's clearly doing his very best.  Can we ask anything more than that?

So keep the financial report Ken until either the company is in a commanding position or as soon as you'd like every troll, neigh sayer and ActiveMining critic to say, " I told you so".

Feel free to comment on this post but the Devil's advocate won't respond.  

[magzy]

Buying HashFast boards is not a plan but an exit strategy.  The coup de grace to make Active Mining look like a honest failure instead of a scam.

@drawingthesun:  You were warned before you "invested," while you were "investing moar" on the way up, and sure, now it's too late.  The trick's listening to advice of your betters, instead of calling them trolls, shutting your eyes, and hoping for the best.

I only got involved heavily in the ActiveMining thread and read Crumbs warnings after I had amassed my large number of useless shares and then I was too scared to sell at a loss. (A loss being 200 bitcoin)

Yep, I know I'm an idiot. But I wasn't buying up tens of thousands of shares during the time I was talking to the critics of this company.

I don't think all is lost with this.

Either your investment will make you incredibly wealthy or incredibly sad.

But it doesn't help when ken says one thing then can't backtrack fast enough, states a deadline that has never been met or made a promise that has been fulfilled. These are red flags in the real world that convincingly point to scam or a long con at worst.

He just needs to manage the SH expectations and only make promises that he can keep.

People judge you by your actions but it appears ken is judging himself by his intentions, which I am 50/50 as to wether they are good/bad.

[gogxmagog]

I still feel like he's going to get a good percentage of the network, then lose it, all the while without any shares being able to trade. They might have some decent value for a few weeks, but all share holders are shit outta luck on that one.
If the shares were online right now, with the amazing increases in hashing hes bringing online they would already be substantially inflated in price. alas, I fear he will lose his capability to keep up with the network and difficulty. Watch him then spend all accumulated divs to try and catch up, only to crash miserably. Think ASICMiner in the summer of 2013, and ASICMiner (unlike ActM) is a competent, solid operation. ActM share "holders" may never see a satoshi.

dude inspires zero confidence.

I really hope I am wrong though. If he comes through I might apologize, more likely I'll just quietly cash out, go away forever, and never think of this headache again.

[drawingthesun]

I still feel like he's going to get a good percentage of the network, then lose it, all the while without any shares being able to trade. They might have some decent value for a few weeks, but all share holders are shit outta luck on that one.
If the shares were online right now, with the amazing increases in hashing hes bringing online they would already be substantially inflated in price. alas, I fear he will lose his capability to keep up with the network and difficulty. Watch him then spend all accumulated divs to try and catch up, only to crash miserably. Think ASICMiner in the summer of 2013, and ASICMiner (unlike ActM) is a competent, solid operation. ActM share "holders" may never see a satoshi.

dude inspires zero confidence.

I really hope I am wrong though. If he comes through I might apologize, more likely I'll just quietly cash out, go away forever, and never think of this headache again.

Bingo.

Even if we had a good month, nothing matters, this 'investigation' will go on for years.

[theMiracle]

...
Bingo.

Even if we had a good month, nothing matters, this 'investigation' will go on for years.

It's happening because you're letting it happen.  Ken knows this crowd -- submissive, passive, and incapable of cohesive response.  He knows that you will never do more than complain on the interweb -- he couldn't care less.

He knows not one of you could even pick up a phone and call MDS.  Sure, you'll discuss the plausibility of that phone call, the pros, the cons, the ramifications, get into arguments about it and ...forget it.

He'll make his excuses just credible enough so you could continue doing nothing.  Just enough to let you rationalize doing nothing to yourself.

Ken's not flashy like Danny -- he's more of a slow 'n steady guy, more mature.  He's not vain like Danny, he doesn't mind keeping his head down and looking like a bumbling fool.  That's how he grinds, and successful guys mostly grind.  No pyrotechnics, but gets the job done and he comes out on top.  Fascinating to watch.  

[Stuartuk]

He knows not one of you could even pick up a phone and call MDS.  

lol so 15, yes FIFTEEN complaints to the Attorney Generals Office count for nothing?

You talking nonsense dick-weed.

[theMiracle]

Have you called, Stuartuk?  I know people are pretty pissed off at Ken, enough to fill out web forms even, but actually picking up a telephone?  Ooohhh....

[Stuartuk]

From the UK?!

Yeah I'm going to call them and they will say 'Are you a US citizen?' I will say no, and they will hang up. Dumbass.

US looks after US I know that.