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Author Topic: [ActiveMining] Official Shareholder Discussion Thread [Moderated]  (Read 629699 times)
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knybe
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April 07, 2014, 06:46:32 PM
 #1881

How about the dividends? Are they accumulated and then paid out once exchange is up?

The dividends have been stored here:

https://blockchain.info/address/1DJpsvnM7xTnQbWEhLYyCyfxQyxwupEzCa

They have been relatively flat but now we are putting more power online we might see more.

I don't remember if we get all the dividend from this address once we are trading, some must be used for reinvestment.

Technically after a very informal vote. 50% of the Dividends are going to go out to public shares and 50% into reinvestment (This vote was back in November though the choice is solely up to Ken). Lately there has been a movement to have 100% of Divs/Mining Profit to go into reinvestment until we are at a comfortable place of growth.

If you have an opinion on either path please feel free to state it. Though the decision comes down solely to Ken.



with all due respect:
Technically there's a lot of discussion in here as to how to run this business when in reality none of us have any say whatsoever.
JoTheKhan
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April 07, 2014, 06:49:17 PM
 #1882

How about the dividends? Are they accumulated and then paid out once exchange is up?

The dividends have been stored here:

https://blockchain.info/address/1DJpsvnM7xTnQbWEhLYyCyfxQyxwupEzCa

They have been relatively flat but now we are putting more power online we might see more.

I don't remember if we get all the dividend from this address once we are trading, some must be used for reinvestment.

Technically after a very informal vote. 50% of the Dividends are going to go out to public shares and 50% into reinvestment (This vote was back in November though the choice is solely up to Ken). Lately there has been a movement to have 100% of Divs/Mining Profit to go into reinvestment until we are at a comfortable place of growth.

If you have an opinion on either path please feel free to state it. Though the decision comes down solely to Ken.



with all due respect:
Technically there's a lot of discussion in here as to how to run this business when in reality none of us have any say whatsoever.

Yup, I think we've all figured that out though it was perfectly clear at the start of this company.
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April 07, 2014, 06:49:36 PM
 #1883

Just a note for Ken-

Ken did you see that Karpeles PC may have had a trojan on it that was embedded in files related to the MTGox transactions app? I think that's what you said you were using? If so you should as a priority do a full security and virus scan of all ACtM PC's online or off.

https://coinreport.net/mtgox-stolen-data-bitcoin-stealing/
SoylentCreek
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April 07, 2014, 07:17:38 PM
 #1884

Just a note for Ken-

Ken did you see that Karpeles PC may have had a trojan on it that was embedded in files related to the MTGox transactions app? I think that's what you said you were using? If so you should as a priority do a full security and virus scan of all ACtM PC's online or off.

https://coinreport.net/mtgox-stolen-data-bitcoin-stealing/

+1

Was I helpful or insightful?  Feel free to say thanks! 1PuoasR1dYtNq9yYNJj9NreDAfLEzc3Vpe
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April 07, 2014, 07:19:04 PM
 #1885

Technically after a very informal vote. 50% of the Dividends are going to go out to public shares and 50% into reinvestment (This vote was back in November though the choice is solely up to Ken). Lately there has been a movement to have 100% of Divs/Mining Profit to go into reinvestment until we are at a comfortable place of growth.

If you have an opinion on either path please feel free to state it. Though the decision comes down solely to Ken.

I would feel very uncomfortable with 100% reinvestment considering the complete lack of transparency provided by Ken.
We do not know if Ken's next move will be successful or not. Heck, we don't know what his next move will be at all!
We do not know anything about ActM's finances, what the chips cost, how much (if anything) we earn by mining, etc...

By the time Ken starts to show some transparency, financial reports and provides us with at least a vague idea of what his future plans and estimates thereof I strongly advice towards a 50/50 split between divs and reinvestment.
The reason is that I know that Ken has made quite a few bad strategic decisions in the past, if he refuse to show transparency one can only guess if his next move will be a good or bad one, and thus, I want my div's NOW rather than risking no divs later.

English is not my native language, I hope you get what I mean.
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April 07, 2014, 07:23:57 PM
 #1886

So now that you are hashing at 19TH/s what's the estimate of investors recouping their investment?

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April 07, 2014, 07:28:43 PM
 #1887

Nothing, we are waiting to be allowed to trade on either counterparty, coloured coins or cryptotrade. So far it's wait and see.

Counterparty and Coloured Coins are a bad idea for our shares.  They are unproven and will require a ton of Ken's time and energy to implement.  Why would anybody want this?  Wait 6 months and let somebody else be the guinea pig.

Weekly Update 4/2/2014
...
Shares:

Next week I will start transferring shares to CT so our investors can start trading.

Crypto-Trade is already set up and running with our shares.


EDIT - a small number of our shares

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April 07, 2014, 07:32:17 PM
 #1888

The reason is that I know that Ken has made quite a few bad strategic decisions in the past, if he refuse to show transparency one can only guess if his next move will be a good or bad one

I agree 100% that we would need an outline of where the 100% reinvest would go but I would back it completely if that outline made sense.

Also stenkross I see where you are coming from but Ken now has a project manager and an engineering team onboard and these people were not there in the early days when we had the delays. The project manager has not been with us long and he seems to have done wonders in just a few months. So I think whatever decision Ken comes up with in combination with the engineering team and project manager will be the right one.

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April 07, 2014, 07:32:39 PM
 #1889

So now that you are hashing at 19TH/s what's the estimate of investors recouping their investment?

19TH/s will mine about 80 - 90 bitcoin in it's lifetime.

That equals 0.000008 per share and 0.000004 after 50% reinvestment. This does not take tax into consideration.

Also we will hopefully have 100TH/s online soon and much more after!

I would like Ken to let us know how much of the hardware sales will turn into dividends for the investor.
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April 07, 2014, 07:36:21 PM
 #1890

By the way, If Ken can get those 5,000 boards online, we would be looking at about 8,000 bitcoin mined in their lifetime.

This isn't bad at all, We need about 50,000 mined bitcoin to give 25,000 to shareholders before the other 15,000,000 shares activate as normal shares.
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April 07, 2014, 08:52:57 PM
 #1891

Just started paying attention to this again, but it looks like Ken might turn this around after-all *knock on wood*

Seems like he got some project management that has helped out quite a bit. Also good news with him releasing audited financials soon:


Ken.  Release the financial reports.  You have a responsibility to do this.



We have hired an accounting firm to get these done.  With the new IRS ruling, the firm is having to look at how that affects our books.  When we release the financial reports they will be audited reports.

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April 07, 2014, 11:48:04 PM
 #1892


Crypto-Trade is already set up and running with our shares.


EDIT - a small number of our shares

So who are these lucky people who have had their shares transferred? On what basis is it decided who goes first?
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April 07, 2014, 11:49:33 PM
 #1893


Crypto-Trade is already set up and running with our shares.


EDIT - a small number of our shares

So who are these lucky people who have had their shares transferred? On what basis is it decided who goes first?

They were shares formerly owned by Ukyo which Ken sold in order to recoup the 106btc that ActM lost on weexchange
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April 08, 2014, 10:40:15 AM
 #1894

Hi Ken,

What's the deal with the hashrate drop over the past day?
https://i.imgur.com/PAz12tN.png
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April 08, 2014, 11:20:35 AM
 #1895

Hi Ken,

What's the deal with the hashrate drop over the past day?

I'd guess you could attribute that to heat. Ken has said on a few occasions that the DC air conditioning hasn't been setup yet. I'm guessing he shut off a rack to try to keep the heat manageable.

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April 08, 2014, 11:46:20 AM
 #1896

Hi Ken,

What's the deal with the hashrate drop over the past day?


If I were a guessing man I'd say the heat issue is the cause of the drop. (Remember: Ken is still waiting on a proper AC installation.) If the temperature in the room was approaching 92F then you can imagine how hot those boards/chips were getting.


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April 08, 2014, 11:50:32 AM
 #1897

how  about we moving to lceland?? just kidding.

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April 08, 2014, 12:35:03 PM
 #1898

Wasn't People's Asic out that way?
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April 08, 2014, 01:03:10 PM
 #1899

Wasn't People's Asic out that way?

Out towards Iceland? I'm pretty sure they're in Cali.


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April 08, 2014, 01:59:01 PM
 #1900

how  about we moving to lceland?? just kidding.

Iceland, Northern Canada, Alaska, all options I would think if we are expecting to mine big. Power is supposed to be cheap in Iceland but it looks cheap in Canada too. In a few years from now I think most industrial operations will be in Iceland or similar. Power supply is vital too, I'm not sure where you could get a lot of power in Alaska or Northern Canada. 'Cloud Hashing' are in Iceland.
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