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

[cedivad]

Good news, I guess.
I didn't realised that they were using a 85 years old guy to cover their civil/penal liabilities.

[NotLambchop]

Game over.

http://www.news-leader.com/story/news/local/ozarks/2014/06/02/secretary-state-halts-springfield-bitcoin-business/9871263/

How unexpected

Thanks for the link, TooDumbForBitcoin, many lulz were had.  Wonder how many "investors" will chose to keep their sharez?

Slaughter said Kander's actions prevent from him from selling shares, and that current investors "have a choice of whether they can stay in or get reimbursed." He said he didn't have an estimate of how many would choose to be reimbursed, and stated that the companies are in an "excellent position."

Slaughter and his companies now face the prospect of multiple penalties from Kander's office, according to today's release.

@cedivad:  The tinfoil fan in me always suspected that Ken is a fall guy, an aging drunk given a Goodwill suit and a few grand to front this thing, but who knows...

[bitlind]

[lobbes]

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.

Here is ANOTHER company he ran.

This one also dissolved, getting to see a pattern here.

http://www.companies-missouri.com/strategic-travel-corporation-8jmh/

Many of his past failures were uncovered months ago, especially in the unmoderated thread, but I also saw some in the original IPO thread.
Unfortunately the amount of noise from shills drowned the actual information.

This is the truth.

Examples of more Kentures:

'Bit-vestor' (same phone# as VMC)
https://bitcointa.lk/threads/if-you-want-to-see-amc-listed-on-bitfunder-com-vote-yes.112359/
https://web.archive.org/web/20130924003558/http://prelaunch.bit-vestor.com

'Million-Dollar Web Hosting'
https://web.archive.org/web/20110201184304/http://milliondollarwebhosting.com/
Posted from Bitcointa.lk - #ZcPJzxC8zsaPmfYq

[minerpart]

I'd appreciate it if this wasn't deleted: (it was)


OK guys you have some serious decisions to make now. I just sold all my shares and took out 4BTC. It's a massive loss on my investment but at some point you NEED to step away from this and see the bigger picture.

4BTC could be a shit-load of money in just a few years.

If you can even take 0.5BTC out of this it could be the best thing you ever did.

You might have a few days before Ken comes on with the bad news but it's a 99% certainty. There is no money left, HashFast have gone with Pepper mining, the cards are NOT selling atall and the static data centre will be killed by 30% difficulty increases every 14 days soon.

This is not BS. If you have everything or most of your coin in ACTM then get it out for the love of God. If it is only a little investment leave it sure why not. If it means a lot to you protect it now. Do it. BTC is going to the moon, you need to have BTC, that's all that matters.

[bitlind]

@arousedrhino:  What you are hearing from Ken is Ken's reading* of MSD ruling.  Knowing Ken, he's simply making stuff up.

*Try not to imagine him reading.

I lol'd

Actually picture Ken interpreting the document out loud to you, rather than reading, bumbling along.  It's actually pretty amusing.

Ken is going to be taking a beating over this.

[tempestb]

This has gone a long way to distract everyone from the missing money in the accounts that were recently withdrawn as well as the condition of the website.  So some of this has worked well into Ken's favor.

[kokoarm]

Date Registered:    2014-05-25
Who are you exactly? How do you know the company is bankrupt? I am pretty sure it isn't and Ken wants the coins for himself. Don't allow him. (Unless you're one of his accomplices, given your very new account creation date.).

I'm just a small shareholder who got back into it now the shares are back.

The big wallet is empty. How can I be an accomplice when I say what he's done is wreck the company? Be sensible. How would me saying there is no money left help him?? I'm saying it how I see it. If people can trace where all the coins went that will be good. Let's try, I don't know how to do that. I just told people that he has hidden coins away and that's why he will close the company. I don't see a way to find out if he has stolen coins but I think he definitely has stolen coins.

[IPO Magic]

@kokoarm:  There is no reason for Ken to steal coin directly.  Active Mining/VMC never published financials.  You know neither how much money is in teh corporate coffers, or how much should be there.

[kokoarm]

@kokoarm:  There is no reason for Ken to steal coin directly.  Active Mining/VMC never published financials.  You know neither how much money is in teh corporate coffers, or how much should be there.

I don't see your point here. You say no-one knows how much should be in the coffers so obviously if that's true he can take 200 coins or 50 coins and no-one would know anyway. The reason to steal them is they are worth money!

Ofcourse he can also steal them 'officially' by getting bills for work or goods that are exaggerated. For example he can ask a contractor to bill him twice the actual amount that some work actually cost. So you only pay the contractor 10k USD but your bill for the books says 20k and the extra 10k goes to your back pocket. When the accounts are done everything looks legit. With big orders for chips or boards you can steal a lot doing that and the supplier gets an extra 10% sweetener for falsifying the bill.

The third way is he just pays himself 250k a year for his wages. I think he will have done all three of these schemes.

So you don't think he has stolen coins or what?

[IPO Magic]

We pretty much agree, but what would chasing coins around the blockchain accomplish?

[kokoarm]

Pretty much nothing. He's had a year to hide his tracks and likely has turned IPO coins into USD then back to coins and they would be clean and untraceable.

[kokoarm]

We pretty much agree, but what would chasing coins around the blockchain accomplish?

Crumbs or whoever you are I have a question. Did you really know that Ken was scamming people as long as 6 months ago? I used to read the old thread and thought you just hated him or had some competitive company. Tell me did you actually KNOW, I mean really know? Or was something else going on? I don't think anyone will be that bothered if it just so happens that you had a competitive business and just was doing competition. If it was competition on your part I don't mind and at the end of the day you may have stopped more people giving him money.

So we're you sure or was it a good guess?

[VolanicEruptor]

Thomas Gounley is an idiot.  Why is he mentioning only $200,000?  He took us for a million.

[U.S. SEC]

Thomas Gounley is an idiot.  Why is he mentioning only $200,000?  He took us for a million.

Perhaps kslaughter managed to hide the $800,000.

Not for long.

[hobbymd]

Thomas Gounley is an idiot.  Why is he mentioning only $200,000?  He took us for a million.

Perhaps kslaughter managed to hide the $800,000.

Not for long.

I really hope so

[IPO Magic]

@kokoarm:  Crumbs started posting pretty late in the game.  The evidence was overwhelming, there for anyone who bothered to read VMC/Active Mining threads.  Many others brought up the same basic points, but none of Ken's marks wanted to listen.
It's not that there was a smoking gun, but *nothing* about this added up--from the ridiculous corporate structure to every c-suite exec being a Slaughter to Ken's blatant illiteracy to the 90s throwback website to...

From the opening line of Ken's prospectus:
"AMC is a virtual identity totally owned by the Active Mining Corporation (Belize) that represents both itself and its profits."
How could anyone take this seriously?  I guess it sounds vaguely legalese... as long you don't ask yourself "WTF does that MEAN?!"

How is it that people fell for this?

[kokoarm]

OK I guess you picked up on little but important things and surely they were mentioned but I just thought it was just a personal grudge. I mean with all the pictures and photo shop and joking it didn't ring true to me that you genuinely thought it was a scam. Do you know what I mean?

If you had said it in a straight forward way with no pics or jokes I and others might have paid attention. Maybe you did and we were blinded by the promise of big times ahead. All I'm saying is next time drop the pictures of sinking boats and just explain the facts you see if you really want to help people. I still think you enjoyed the game more than you wanted to help investors but if I'm wrong I'll take that back.


Dunno what else to say other than can I borrow some btc?

[gogxmagog]

fearless leader has spoken abouit current actm situation; "don't worry guys, this is just a bump in the road...."

[Entropy-uc]

https://bitcointalk.org/index.php?topic=245713.0
Almost a year ago.

The first page of that thread should have been enough for any rational person to stay out of this mess. I really have no sympathy for anyone who invested, or stayed invested after July of last year.

How many AMC created threads are there on securities?  5, 6, more?  Ken seemed to create a new one every time the stench got too heavy in the old one.  Then his cohort of pimps created the latest sham - a thread where anything but happy talk gets deleted instantly.