The current state of AMC/VMC/AM threads is typical for the progression of a scam.
Just look at the pirate threads, or Patrick Harnett's threads, Nefario's, or tradefortress, BFL, etc, etc.
Essentially everyone can smell the rotting corpses under the pretty facade. But a core of delusional suckers, unable to accept their losses are hanging around cheer leading, and hoping for anything that might validate their bad choices. Around this you have an array of folks stopping by for entertainment like at any public disaster. Then there is the group of folks warning away any naive schmucks who might wander in and become a bagholder.
It all makes for a lot of noise and light.
Is it unpleasant for those aforementioned bag holders? I'm sure it is. But the sooner they come around to recognizing their losses and taking honorable actions to mitigate the losses, the better it is for everyone.
Your problem is you mouth off about everything being a 'scam' because it gives you the opportunity to brag about it further down the road and unfortunately you now have a bad reputation for doing that.
You said BFL was a scam. Fraught with issues, yes, but a scam? You said Avalon was not a scam. Fraught with issues, but not a scam? Then there's Asic Mining. Are we sure there was nothing scammy about their pricing for block eruptors and other devices when ROI was clearly impossible over holding bitcoin? I know when there's a fuel shortage and one petrol station charges way over the price for fuel, there's something scammy going on in my town.
I'd say that you and others of your ilk such as crumbs, pankkake, iCEBREAKER etc., are just too quick to condemn fledgling companies who are trying hard to succeed in a very competitive and quickly evolving market. Are you guys just butt hurt that someone else got there first or what?
Your issues with Activemining started back when you were convinced Ken was lying about producing his own chip. eASIC anyone?
Back then you were also very vocal about the shares issues and structure of AMC/VMC and rightly so, but your opinions never came with ideas for improvement, only anger at Ken. Without your help Ken reached out to the community and together we restructured the company into Activemining.
So with two of your main reservations about ActM sorted long ago, why do you continue with your vendetta? It's personal isn't it? You want Ken to fail and are trying to make that happen. I'm not wrong am I? If it wasn't Ken but someone you respected who was at the ActM helm, you would be garnering support rather than posting malicious statements such as the one above.
Regardless of how you colour your language, fud is fud and if my farm dung spreader ever runs out, I'll send you a pm.
*Please do not delete the Official ActM thread. It is a very useful tool in combating the trolls and fudsters and we should have the history preserved.*
My big beef with AMC is not his Avalon mining plans. It is his claims to be building his own silicon. It is BFL all over again. He and his people have no competency in the field, and no idea of the capital required to deliver devices at the process nodes they claim to be working on delivering a device.
Want to sell stock in a company to develop a device? Include a stack of resumes showing a background in the field, and a real schedule and budget to get the job done.
More from Entropy...
It horrifies me that the first experience most newbs have with bitcoin is getting ripped off. That negative taint can create thousands of ill-will ambassadors who advise their friends to stay away from bitcoin because it is a scam.
As for Ken, he might succeed. But running an ISP qualifies him to develop ASICs like driving a taxi qualifies you to start a company competing with Tesla.
If he does succeed he will be one of dozens, and will never capture the market share he imagines. Plus his VMC holding company will have the IP rights to the hardware. Lucky AMC shareholders will just get to pay him for equipment.
I have been calling BS on BFL since the day of their first press release a year ago. And I called out many other scams. Friedcat and Avalon I did not object to - hell, I have more orders with Avalon than Ken does. The valuation of ASICMINER shares I own exceeds all the money that Ken has collected so far.
A wise man figures out whose council he should heed.
Look, it's simply far too late to be calling ActM a scam and be taken seriously. When I bought my shares at 0.0005, I took a gamble knowing that I could be getting involved in a scam. That was a risk I was delighted to take because I knew the rewards were unimaginable if it all worked out. So with chips on the way, first orders shipped, massive pre-order sales taken and the assembly of miners underway, it looks as though I backed the right horse!
Weekly Update 12/18/13
Crypto-Trade:
I have all of the legal issues worked out, and I am programming them into the verification site.
VMC:
We are working with eASIC and our engineers to get our chip and boards in full production.
We have stock piled all the hardware to build the miners and we are per-assembling the miners.
Poll
