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Author Topic: [ActiveMining] Official Shareholder Discussion Thread [Moderated]  (Read 629604 times)
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ActM Thread
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February 12, 2014, 08:25:56 PM
Last edit: April 26, 2014, 11:11:09 PM by ActM Thread
 #1

Welcome to the Official Active Mining Discussion Thread

Shareholders have decided that this thread be moderated as interference from trolls made the previous Official ActiveMining Thread untenable.

All posts made by trolls will be deleted. Everyone else is encouraged to express themselves however they like, regardless of their viewpoints and will not have their posts deleted unless they break any of these simple rules:

Please do not post image macros.
Please do not post highly offensive or hurtful remarks.
Please do not quote or respond to trolls. For a list of banned accounts see below.
Swearing to express oneself is not an issue.
(These simple rules are a work in progress and we welcome feedback)


On this thread you will find details from the most important Official ACtM news releases, statements and published facts for easy reference.



Active Mining Corporation (ActM) is the parent company of Virtual Mining Corp (VMC) and is made up of a team of dedicated Bitcoin mining professionals with over 30 years of combined experience.

The current company structure is as follows:

Active Mining Corporation Management Team:

Kenneth E. Slaughter, CEO/CTO

Virtual Mining Corporation Management Team:

Kenneth E. Slaughter, CEO/CTO
Gerald L. Slaughter, COO/CFO
Micah Slaughter, VP Manufacturing Operations
Darin Carolus, VP Marketing

VMC also has 2 in-house Engineers in San Jose and a Project Manager working very closely with eASIC.
ACtM company offices are in Springfield MO - VMC website http://virtualminingcorp.com/index.html

Shares currently available at https://crypto-trade.com/tradex/ipo/amc_btc






--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

eASIC 28nm ASIC

Since IPO, ACtM/VMC has been perusing a 28nm ASIC chip with eASIC. http://www.easic.com/
In September ACtM and eASIC released a joint statement:

Santa Clara, CA and Springfield, MO – September 4, 2013 – eASIC Corporation, a
leading provider of NEW ASIC devices and Virtual Mining Corporation (VMC) today announced
that VMC will use eASICs 28nm Nextreme-3 devices to create a series of scalable Bitcoin
mining machines capable of generating up to 24.756 TH/s.


The above chip roll-out was delayed by ACtM in September due to concerns over ROI with BTC value at only 140 USD and competitors chips at 4-500GH/s. The ACtM chip was therefore returned to the design stage and the result is a more refined and more efficient full custom 28nm device which eASIC are presently in the process of producing. Chip specs will be known shortly.

This chip will be available for: bulk sales, the ACtM mining farm, and will be sold in premium high-power machines for retail and industrial customers.  
This chip is expected in Q3 2014.

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

UMC 55nm ASIC

On the 21st January 2014 ActM surprised investors when they published this press release:

Springfield, MO and Santa Jose, CA – January 21, 2014 – Active Mining Corporation (Belize) (AMC) a bitcoin Mining and Hardware Manufacture, and  People's ASIC a stealth Silicon Valley startup founded by two veteran engineers is proud to announce today the tape-out of their 55 nm UMC Bitcoin Mining ASIC. Simultaneously, AMC has acquired the Intellectual Property for the 55nm UMC Bitcoin Mining ASIC.  Delivery of chips is expected in Q2/2014.  Also, AMC will use the same design team and code which successfully taped out the 55 nm on AMC's eASIC's 28 nm.


This new full custom 55nm project (wholly owned by ACtM) is at a more advanced stage than the eASIC custom 28nm ASIC and has been taped out by UMC. http://www.umc.com/english/process/c.asp
This chip will be utilised in scalable bitcoin mining machines capable of generating upto 10.488TH/s.

The published specs of the UMC fabbed chip include:
11mm x 11m package,
1.9 GH/s, 2.5 Watts per chip
which is 1.315789474W/GH (before Intellihash is applied)

This chip will be available for: the ACtM mining farm. Bulk chip sales and production of budget medium-power machines for retail and industrial customers is yet to be confirmed.
This chip is expected in Q2 2014.

_______________________


Update: VMC has been slotted into UMC's February production run for the 55nm chip. Expected deliveries are 6 wafers in mid-April, 19 wafers by April-end, and in May VMC will receive full production batches of any quantity required. Expected 24x55nm chips per PCIe board. Engineering team are working on the sourcing and design of the boards and boards are due to be ready when chips arrive in April. Estimated yield of 6,800 chips per wafer giving 40,800 chips in mid-April for 77.52TH/s and then 245.48TH/s April-end to total 323 TH/s before full production commences in May.

Weekly update from 29/1/14 - 'We are expecting to add 1 to 2 Petahashs of mining [from 55nm chip] in Q2.'

Genisis block payout schedule (official): http://thegenesisblock.com/mining/a/423f77e0be


--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Intellihash (TM)

Intellishash (TM) is a unique in-house process designed by ACtM and its engineering team which extends or boosts the usefull hashing life of Bitcoin mining ASIC's. For commercial reasons the full details of this technology are confidential. The process can be applied to ACtM chips and will boost chip lifetime-performance as hash-difficulty rises. The percentage of increased life-time efficiency over a standard ASIC chip is not public knowledge, but the boost is expected to be significant over non-Intellishash capable chips (ie competitors chips).


--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ACtM mining farm

With their own mining farm ACtM expect to utilise first their 55nm based rigs which generate 10.488 TH/s and shortly after their 28nm based rigs which generate 24.576 TH/s.
Electricity costs for ACtM are stated to be around 0.017 $/kWh.


--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Shares

Since the close-down of the BTC-TC exchange and thereafter the Bitfunder exchange, ACtM shares have been unlisted and untradable except for a very small number on Cryptostocks. Dividends have also been suspended. The CEO has been concentrating on developing the core of the business in the meantime but has actively considered the emerging Coloured Coins network as a trading solution. However due to increased shareholder requests to implement a trading solution ASAP ACtM shares will be listed on Hong-Kong based Crytpo-Trade https://crypto-trade.com/ in the next few days. 28/1/2014.

All shares on Bitfunder were requested to be tendered to the 'AMC-TENDER' holding account before the closure of BF so that Ken could batch-process them onto a new exchange when one was ready. Any holder who carried out the tender on BF should receive an email notification will log-in to a site (that is in the process of being created by Ken) and after successful verification of your identity your shares will be auto-sent to the account associated with your email address on Crypto-Trade. At this point no account needs to be manually opened on Crypto-Trade

The most recent information on this move is: 'The transfer of shares from AMC-TENDER to Crypto-Trade will be via an automated site. To verify your shares, you will need an email address that you want to register as a account on Crypto-Trade (fine if you already have an account using that email, shares will just be added to that account), the number of shares transferred to AMC-TENDER, and your AMC-TENDER transfer date and time of transfer (from your Bitfunder transfer logs, or from the screenshot you made of the transfer).'  

For the many shareholders who did not carry out the BF tender (or who do not have the date and time of your tender), you will likely be requested to confirm your identity by signing from your BTC wallet address which you registered on the Bitfunder site before you can send your shares to your CryptoTrade account. Due to possible manual processing of your shares (not part of the tender batch-processing) you may gain access to your shares sometime after those who did fulfill the tender request.

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Shareholder guarantee

There are a total of 10,000,000 (10 Million) publicly held shares in ACtM that represent interests in all VMC, and ACtM profits. The shareholder guarantee states that these 10M shares will receive all dividends until a total of 0.0025BTC has been paid per share. Currently around 2.5% of this total has been paid out. After the 0.0025BTC has been paid to each publicly held share the CEO's holding of 15 Million shares will also begin to receive dividends so that all profits are then shared out equally between the final total of 25,000,000 shares.


--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Dividends

All BTC mined by ACtM are currently paid into this wallet: https://blockchain.info/address/1DJpsvnM7xTnQbWEhLYyCyfxQyxwupEzCa
To date 629 BTC has been paid out to shareholders since IPO - equalling 0.00006291702 BTC per share. So 2.5% of the total shareholder guarantee (0.0025BTC) has so far been paid, leaving 97.5% still to be paid out to each of the 10million publicly held shares.

The balance of the current mining income (around 57BTC accruing from our Avalon miners) will be paid out to shareholders once the shares are listed on Crypto-Trade.


--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Ukyo Shares

Through his Bitfunder securities exchange and WeExchange processing site Ukyo misplaced, lost or miss-invested over 6,000BTC from the community. ACtM had company funds in both Bitfunder (38BTC approx) and WeEx (70BTC approx) which represented assets raised from the IPO, funds for the purposes of paying dividends, and funds being used to transfer ACtM shares to CryptoStocks via a free transfer option for share holders. (This scheme was in it's very early days and so only a few thousand shares were exchanged to CS before Bitfunder was closed). These monies appear to have been lost and after legal notice was served on Ukyo for the return of these funds no refund was made. ACtM has therefore adopted the rights of lien under Corporation Law to seize Ukyo's ACtM share holdings. Ukyo held approx 232,000 shares in ACtM. These shares are being sold on Crypto Trade solely for the purposes of reimbursing ACtM lost funds and legal fees and costs relating to this case. Once these funds have been reimbursed the remaining shares/raised BTC will be returned to Ukyo so that hopefully the community can get back some of their lost monies. At the current listed price it is expected that most of the shares will need to be sold to recover ACtM's losses.

EDIT - all Ukyo shares appear to have been sold.

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Pre-order Refunds

With BTC savings retained from the IPO, and BTC having appreciated almost 10fold, ACtM has ample liquid assets to refund 100% of all pre-orders plus continue with full production of the 55nm and 28nm projects. Of the few pre-order customers who have requested a refund all have been repaid in full in a timely manner. Pre-orders paid for in FIAT are currently held in FIAT by the company to safeguard this company liability from a fall in BTC prices.

-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Trolls

The following accounts, and owner(s) of the listed accounts, are hereby formally asked to cease posting in this thread:

Fawn
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mainline
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Bitdust
Snowflake
Rawted
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Volcanic Eruptor
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If you ask someone to leave your topic and they keep posting, they will be banned. PM me in such cases.
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February 12, 2014, 08:48:26 PM
Last edit: February 13, 2014, 01:44:52 AM by ActM Thread
 #2


ActiveMining

Introduction
ActiveMining is a virtual identity totally owned by the Active Mining Corporation (Belize) that represents both itself and its profits. ActiveMining's business includes cryptocoin mining and sales of self-built ASIC devices through its wholly owned subsidiary Virtual Mining Corporation (VMC).

Currently, it is expected for interested ActiveMining's public investors to hold 10,000,000 ActiveMining shares (40% of the profits), while Active Mining Corporation owner(s) shall hold 15,000,000 ActiveMining shares (60% of the profits), for a total of 25,000,000 ActiveMining virtual shares that represent 100% of the global profits of ActiveMining.

The issuing of more ActiveMining shares can be allowed in the future, as a last resort measure and after a shareholder's vote, provided there is strong economic justification, mainly on the basis of covering emergent capital needs. Existing shareholders also get the first choice for buying new shares before they are sold on the open market. The volume of new shares shall be kept at a minimum as much as possible and the pricing of them should be such that the total value of all ActiveMining's assets (tangible and intangible) per ActiveMining share does not diminish, protecting shareholders as much as possible from future dilution of value.

Public investor's protection plan
The first 10,000,000 ActiveMining shares have the privilege of getting all profits until BTC0.0025/share is paid, starting from the day when dividends begin to be paid.

How to buy shares
ActiveMining shares will be sold on BitFunder and BTCT.CO and any other exchange, following asset approval or tendered by AMC shares. Existing Active Mining Cooperative (AMC) shareholders will be entitled to tender their shares for ActiveMining shares, on a 1:1 basis and are also covered in the public investor's protection plan.

Dividend payment
The global ActiveMining's income, including mining income, hardware sales via bitcoins, other cryptocoins and fiat transferred to bitcoins, will be paid to ActiveMining shareholders proportionally, when all manufacturing, maintenance, labor costs, R&D, growth and miscellaneous expenses are deducted. The first BTC0.0025/share dividends will only be paid to the first 10,000,000 ActiveMining shares, providing public investors a priority in getting back 100% return of their investment.

Our chips in development
Generation 1: Fast-Hash. 28nm. Each chip's rated frequency is 800 MHz at 1.15V. It translates to 16,000 MH/s because it does 20 hashes per cycle. Chip requires proper handling of heat and power supply. It is expected the chip can be overclocked to 1000 MHz @ 20,000 MH/s.
eASIC Press Release

"Our existing hardware assets from AMC liquidation
  • 6 Avalon miners, currently running on BTC Guild under "Team AMC" for around 430 GH/s;
  • An order of Avalon chips from steamboat's batch #1, for 68 Klondike-16 boards, rated at 68*16*282 = 307 GH/s;

AMC owns Virtual Mining Corporation (VMC) which is a manufacturer of Bitcoin Mining Machines:

Virtual Mining Website

VMC Website:

July Visitors:           10,135
August Visitors:       12,676
September Visitors: 26,894 9/19.      


VMC Sales:

2013 sales $6,311,788.33



ActiveMining F.A.Q.

What is ActiveMining?
ActiveMining is the natural evolution of two previous projects: Active Mining Cooperative (creating a bitcoin mining farm) and Virtual Mining Corporation (selling bitcoin mining hardware), that are now unified under the roof of ActiveMining. Both original contract proposals were quite complex, so we decided to rip them apart and start from scratch, using the same tried and tested model of Asicminer. This allows for a much needed flexibility that is key in the bitcoin world.

Where can I buy ActiveMining shares?
Currently, there is only one way to do that:
  • You can buy ActiveMining shares directly from CryptStocks

What is the Virtual Mining Corporation (VMC)?
VMC is a subsidiary of ActiveMining that is in charge of building hardware. Think of it as a department of ActiveMining, with all its profits funneled into ActiveMining shareholders.

So, where can I see the current ActiveMining hashrate and mining profits?
Currently ActiveMining mines on BTC Guild at around ~700GH/s, as User 211435 and as Team AMC. Accumulated mining profits are stored in BTC address 1DJpsvnM7xTnQbWEhLYyCyfxQyxwupEzCa. Here's a graph of that.

What are the current plans for chip development?
ActiveMining is developing a 28nm Bitcoin mining chip using eASIC.
  • Chip samples delivered in 9 weeks;
  • Low-volume chip production starting in 12 weeks, using an e-beam process;
  • Normal volume chip production starting in 16-18 weeks.


Can you please provide some documents as proof of the existing claims?
Engineering Firm quote for the machines that will host the incoming Avalon chips: http://axs.net/AMC/SB-Prototype-Quote.jpg
eASIC chip NDA: http://axs.net/AMC/eAsic-NDA0001.jpg and http://axs.net/AMC/eAsic-NDA0002.jpg
eASIC Press Releases

    
Additional useful links:
 
Active Mining Announcements

Information Thread by drawingthesun
        
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February 12, 2014, 08:56:44 PM
 #3

I would advise posting links to the official Active Mining Announcements thread.  Also, any resources that shareholders, or potential shareholders might find handy should also be included (timelines, mining addresses, dividend information, etc).  Someone also needs to notify Ken that there is an effort being made to transition to a new thread, and ask if he would be willing to post updates into this thread as well as the official one.

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February 12, 2014, 09:00:53 PM
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Also, someone needs to write some posting guidelines, so people will have a clear understanding of what constitutes trolling.  For example, I would automatically remove any posts that include image macros of any sort. 

Was I helpful or insightful?  Feel free to say thanks! 1PuoasR1dYtNq9yYNJj9NreDAfLEzc3Vpe
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February 12, 2014, 09:08:12 PM
 #5

Some good ideas.  If this thread works out there would be somewhere potential and current shareholders could get up to date company information without having to trawl through endless pages of nonsense.  Half the problem with the noise created by these trolls is that quality information usually gets lost, and of course that's what they want.

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February 12, 2014, 09:18:44 PM
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Exactly the reason why I stopped frequenting the forum.  There is just WAY too much chattering and nonsense going on.

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February 12, 2014, 09:57:05 PM
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I don't really see how this thread is going to solve any of the issues we've seen over in the official, self-moderated, thread. The trolls will make alt accounts and continue to troll. Honestly, the addition of another thread will probably just lead to confusion over where the proper information is to be obtained.


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February 12, 2014, 09:58:11 PM
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LorenzoMoney agrees with Kleeck.

I don't really see how this thread is going to solve any of the issues we've seen over in the official, self-moderated, thread. The trolls will make alt accounts and continue to troll. Honestly, the addition of another thread will probably just lead to confusion over where the proper information is to be obtained.

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February 12, 2014, 10:12:41 PM
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The issue with the Official Thread is that although it's moderated Ken doesn't have the time to spend to keep it free from trolls.  Here we do because the shareholders can delete the troll posts 24 hours a day if we work together.  It makes no difference how many troll accounts are created because as SoylentCreek has suggested, we work together and create posting guidlines and issue them above.  The known trolls get all posts deleted and then we manage it using simple guidelines and add to the troll list if we need to.

Regarding the issue of causing confusion with the Official Thread I'd say this;  due to the noise in the other thread created by trolls and those who engage with trolls, valuable information is constantly getting buried and there is no hope for potential investors or current shareholders to keep up to date with developments unless you read up to 10 pages of garbage every day.

If we give this thread a chance I do think it could work very well indeed. With a clean ActM thread we encourage proper discussion and when we get closer to production and mining we need a thread like this for the company image.  I'm all for showing 'warts 'n all', but let's do that without the trolls dictating things.

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February 12, 2014, 10:21:41 PM
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LorenzoMoney agrees with Kleeck.

I don't really see how this thread is going to solve any of the issues we've seen over in the official, self-moderated, thread. The trolls will make alt accounts and continue to troll. Honestly, the addition of another thread will probably just lead to confusion over where the proper information is to be obtained.
I'm skeptical that this will have the desired outcome, but since I will not be participating in the moderating I guess I have no qualms about yall trying.
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February 12, 2014, 10:42:31 PM
 #11

If this can be modded by a few major shareholders - or longterm contributors who we can trust - then I'm all for a new thread.

We need ground rules and they need to be stuck to. We can't have genuine posters getting deleted just because they have an argument with a mod for example. But it's pretty obvious what a Troll is and so banning them would be the easy bit. In terms of getting Ken onboard I don't think that is a big issue if we treat this as the shareholders thread. He's obviously too busy to Mod the official thread properly so we need to do something.
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February 12, 2014, 10:43:59 PM
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If this can be modded by a few major shareholders - or longterm contributors who we can trust - then I'm all for a new thread.

We need ground rules and they need to be stuck to. We can't have genuine posters getting deleted just because they have an argument with a mod for example. But it's pretty obvious what a Troll is and so banning them would be the easy bit. In terms of getting Ken onboard I don't think that is a big issue if we treat this as the shareholders thread. He's obviously too busy to Mod the official thread properly so we need to do something.

Perhaps banning can be put to a vote by those managing the thread? Simple majority votes for ban = ban
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February 12, 2014, 10:58:21 PM
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Well, it can't get any worse than the official thread.
Good initiative guys!

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February 12, 2014, 11:45:47 PM
 #14

Of course nonsense will find its way into here but when this thread is moderated, means deleting useless posts, then i would appreciate it. Someone other would do the work to delete posts without worth and all others can enjoy the relevant info.
Lets see how it turns out to be.

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February 12, 2014, 11:46:47 PM
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This isn't a bad idea.

May I ask, Ken was meant to post an update yesterday correct? Any ideas why he hasn't?
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February 12, 2014, 11:53:23 PM
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No it's later today, should be within the next hour or so. (Updates on a Wednesday)
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February 12, 2014, 11:54:30 PM
 #17

Ken usually posts his update about now.  He's kept us guessing recently with one or two early updates though.  I'd expect something within the hour.  Really hoping for something definitive regarding access to our shares.

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February 13, 2014, 12:05:42 AM
 #18

Ken usually posts his update about now.  He's kept us guessing recently with one or two early updates though.  I'd expect something within the hour.  Really hoping for something definitive regarding access to our shares.

No it's later today, should be within the next hour or so. (Updates on a Wednesday)

Thanks, It's Thursday here so I figured the USA must be really late Wednesday. Is it still light where Ken lives?
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February 13, 2014, 12:09:46 AM
 #19

I worked it out once, MO is six hours behind where I am and it's about midnight here so that makes it about 6pm local time when Ken puts his update up. So the end of the working day for him.


World timezone map:

http://www.timeanddate.com/time/map/
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February 13, 2014, 12:22:08 AM
 #20

Weekly Update 2/12/2014

On the 55nm project:

This week has had a number of developments, our project manager is working on wrapping up all the detail of our 55nm project.  We are expecting to receive our first 55nm wafers on April 10th, with next batch due on April 29th, May 5th and May 8th for a total of ~104 wafers.  It will take 1-2 weeks to have the chips packaged and then shipped to our board manufacturers.  We will be selling and mining with these chips and boards, depending on what makes the most since at the time.  The tape-out was done on Peoples ASIC account for a shuttle run of 50 prototype chips, we have canceled the shuttle run and changed to a full production run of the chips on VMC own account.  Peoples ASIC IP has been signed over to VMC and the FAB has all the legal paper work to start VMC's production run of wafers.

On the 28nm project:

We are getting quotes from a number of vendors including eASIC.  After the project is started we expect it to be completed in 8 weeks, after which we will tape-out.

On Crypto-Trade:

I am hoping to get shareholders shares transferred ASAP and get full trading up and running.  We have received a letter from the Missouri Securities Division asking for information on Active Mining Corportation, at this point we have ask for more time to respond and have seeked legal advice.

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