[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[drasted]

Whatever, that was a fun little hypothetical. That problem is the past, I'll repeat the question I asked that you all shoudl be asking, how much money has gone into the data centre? Why aren't you guys asking that question every day?

People are asking for it in the form of the financial reports. But ken keeps putting it off and saying he has/will get someone else to do it

[finlof]

pretty ridiculous that i get deleted because i mentioned a troll by name.  the whole point of my post was to not blame/credit anyone other than Ken for ACTM's failure/success.  trolls have no power to make or prevent Ken from making process on chip development, data center deployment, product shipping, etc.  100% of all current success and failure lies squarely on that man's shoulders.

EDIT - oh and as it seems is most important - shares and dividends.  Ken has had plenty of time to get this going.  it just isnt something that is a priority for him.  cause if it was it'd have been done long ago.

[drawingthesun]

Why don't you guys ask the relevant questions?

Not sure if you're being stupid or trolling but, we have asked all these questions and we always get turned down. At this point in time many of the old shareholders that have been pestering Ken have given up asking. I used to ask all the relevant questions but it only showed an example of what Ken didn't want to answer.

Ken has never given us hardware costs and has always been quiet about our own ASIC development. I doubt we'll ever learn the truth.

[wasubii]

Why don't you guys ask the relevant questions?

At this point in time many of the old shareholders that have been pestering Ken have given up asking.

Sad but true - i still read the thread but have given up trying to get through to Ken. In my eyes my investment is still a write off - if i ever get anything back from my initial 'investment' then i will be happy.

[finlof]

Why don't you guys ask the relevant questions?

At this point in time many of the old shareholders that have been pestering Ken have given up asking.

Sad but true - i still read the thread but have given up trying to get through to Ken. In my eyes my investment is still a write off - if i ever get anything back from my initial 'investment' then i will be happy.

Hell I couldnt even get him to sell me a miner for BTC.  i was begging him to take my money.  I left a couple of messages and never had anyone contact me back.

I've since ordered a few 1TH dragon miners and a 1TH bitmine unit.  I ordered one of the dragon miners on Tuesday of this week and it arrived Friday.  that's a 3-day turn around FROM CHINA.  I should have been able to have even faster service than that from a company within the US.  sadly ACTM is still working the kinks out of their operations.  if they should get their act together then I will consider trying to order from them again.

[finlof]

I've since ordered a few 1TH dragon miners and a 1TH bitmine unit.  I ordered one of the dragon miners on Tuesday of this week and it arrived Friday.  that's a 3-day turn around FROM CHINA.  I should have been able to have even faster service than that from a company within the US.  sadly ACTM is still working the kinks out of their operations.  if they should get their act together then I will consider trying to order from them again.

Does Dragon miner have a website? I wouldn't buying some 1THs miners if I knew they would ROI. Delivery in 3 days sounds enticing.

PM sent.  (damn wish i got commission for this!)

[minerpart]

They ship from  the US and are now sold out.

[finlof]

They ship from  the US and are now sold out.

not so!  PM sent for more details...

[gaba]

My experience says Counterparty is not ready for this yet, unfortunately, and is certainly not completely functional.
  

What function do you need. You can create asset, trade, dividends can be distributed to shareholders. Most important, your shares are tied to your bitcoin address.

[stereotype]

My experience says Counterparty is not ready for this yet, unfortunately, and is certainly not completely functional.
  

What function do you need. You can create asset, trade, dividends can be distributed to shareholders. Most important, your shares are tied to your bitcoin address.

Functions that at least come close to expectations and give me reason to not use a centralised exchange. I would rather take the risk of a centralised exchange than not know if, when, and how, my simple buy/sell trade will actually execute or not.
At the moment, the CP process feels like a clunky Heath Robinson event, where you are not entirely sure if the ball will reach the end of the obstacle course!

Sorry, OT.

[Simon Templar]

I'm getting some really strong pings on my Trolldar when that Phildo is about.  His posts are nothing more than attempts to incite anger and create conflict.  An obvious enemy to the prospects of ActiveMining and the mods should look at what he's posted in the past and take action.

Hell I couldnt even get him to sell me a miner for BTC.  i was begging him to take my money.  I left a couple of messages and never had anyone contact me back.

I've since ordered a few 1TH dragon miners and a 1TH bitmine unit.  I ordered one of the dragon miners on Tuesday of this week and it arrived Friday.  that's a 3-day turn around FROM CHINA.  I should have been able to have even faster service than that from a company within the US.  sadly ACTM is still working the kinks out of their operations.  if they should get their act together then I will consider trying to order from them again.

finlof, could you try again today and report your findings please.  I know Vince didn't seem to have any issues that you describe and I believe he ordered more recently than you.  I would but couldn't commit to the order due to lack of funds and don't want to create a bogus order.  Looking forward to hearing back from you.  

[gaba]

At the moment, the CP process feels like a clunky Heath Robinson event, where you are not entirely sure if the ball will reach the end of the obstacle course!

Sorry, OT.

Just like bitcoin (process). I really doubt that anybody here have problem with that.

[shaofis]

Hell I couldnt even get him to sell me a miner for BTC.  i was begging him to take my money.  I left a couple of messages and never had anyone contact me back.

I've since ordered a few 1TH dragon miners and a 1TH bitmine unit.  I ordered one of the dragon miners on Tuesday of this week and it arrived Friday.  that's a 3-day turn around FROM CHINA.  I should have been able to have even faster service than that from a company within the US.  sadly ACTM is still working the kinks out of their operations.  if they should get their act together then I will consider trying to order from them again.

If true; this is pretty frustrating. I don't see the sales demand being so high on this product right now (Maybe I'm wrong) but from the numbers we've all heard tossed around fulfilling a few 30 or 40 orders should be easy to do.

We've all seen pictures of the facilities laid out to process orders... we know Ken hired staff and built servers (Which aren't even being used). I just don't understand why we can't ship out an "In Stock" product in a reasonable timeline or respond to people who want to purchase. I don't know the details ... but I'm running out of "benefit of the doubt" on cases like this.

[Stuartuk]

If true; this is pretty frustrating.

With you on that one. But I think he said they had issues taking BTC as payment due to the old payment system on Gox being unavailable. What is the latest on taking BTC payments Ken?

[shaofis]

Ken,

I think you owe an update on the process of an ActM custom asic development. You can dodge all you want on this... but this is after all one of the primary reasons people trusted you with our money.

I can figure out how you came to HashFast; after all the purchase and development of a 55nm asic wasn't as profitable as others 27nm. But the reality here is everyone sent you money to develop/use/sell a 27nm asic. Obviously we are way behind where we should be at this point even considering any reasonable delays.

The shares and SEC issues being what they are; you should still feel some obligation to keep us reasonably informed when your plans change or do not work out.

Are we still even developing an asic? Please confirm the status... was it canceled is that why we aren't hearing anything? Did we run out of funds? Is the order of HashFast gear the only hope for some sort of sustainability? Is the business plan to try to outsell HashFast themselves using their own gear? What is the strategy here?

[Stuartuk]

I might have said this before but I think these 5000 boards are all our money. If BTC continues to climb and they ROI then it was a good move and will make us stronger to continue with the 28nm (not 27) custom chip. If BTC stays where it is and we don't ROI we will be in a weaker position. In a fluid market place it was likely the best move if we didn't have enough is USD (with BTC at $400) to continue with the 28nm.

You can't blame Ken for BTC being $400 and that meaning we don't have enough to finish the 28nm project. If BTC was at 2k the 28nm would be full steam ahead. So my opinion is it was likely a decent move considering the weakness of BTC in Q1.

[drawingthesun]

I might have said this before but I think these 5000 boards are all our money. If BTC continues to climb and they ROI then it was a good move and will make us stronger to continue with the 28nm (not 27) custom chip. If BTC stays where it is and we don't ROI we will be in a weaker position. In a fluid market place it was likely the best move if we didn't have enough is USD (with BTC at $400) to continue with the 28nm.

You can't blame Ken for BTC being $400 and that meaning we don't have enough to finish the 28nm project. If BTC was at 2k the 28nm would be full steam ahead. So my opinion is it was likely a decent move considering the weakness of BTC in Q1.

You mean they will be all of our money? 5,000 boards/chips will cost about 7,000 bitcoin so Ken is probably going to buy them bit by bit with mining dividends. Right now taking into account the 100TH/s we are meant to have bought, we probably have enough Bitcoin left for about 700 boards.

[Stuartuk]

Could be yes. Whatever the figures all our money is probably going towards this third party 28nm and our own boards. We will be making a saving using our own fabbed boards, so we are not just using other peoples hardware to mine. We have lower hardware costs than off the shelf hashfast trade customers.

[drawingthesun]

Could be yes. Whatever the figures all our money is probably going towards this third party 28nm and our own boards. We will be making a saving using our own fabbed boards, so we are not just using other peoples hardware to mine. We have lower hardware costs than off the shelf hashfast trade customers.

My calculations take into account that our costs are much lower than a normal hashfast customer.

I agree that it's unlikely we are buying 5,000 boards for $3,500,000 and also funding a custom 28nm at probably $2,000,000 with what money we have left.

[SebastianJu]

I think the behaviour of ken and the incompetence of others that even make bitcoin projects turn scammy or bankrupt will be the reason no one will invest in bitcoin things anymore. I dont feel any urge to invest somewhere anymore. Its so very risky and when i see the latest projects it looks like practically none led to rich investors. Most even led to total loss.

Its really a pain at the moment. Its like the gold digging time is over and we are the poor guys trying to get some grain of gold in the rivers though having a higher chance of getting bankrupt.