[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[minerpart]

We have gone  TOP TEN on Eligius!!!

TOP OF THE POPS!!!!!

[snowdropfore]

without actm chips,we can not so happy now .

[ThunderSheep]

It may only be half-way there but it's visible progress.  You have to acknowledge that achievement at least.

[Simon Templar]

Great progress Ken.   Let's climb the leader board on Eligius and get to #1.  Have we overtaken Bragraphics yet?  

[drawingthesun]

Great progress Ken.   Let's climb the leader board on Eligius and get to #1.  Heve we overtaken Bragraphics yet?  

I believe Bargraphics has between 100TH/s and 150TH/s.

[RoadStress]

The last mention of it that I could find was from March 30th.

<snip>

Yes, and we are still working on developing our own 28nm chip.

That means that the project isn't paused/cancelled. From Tape Out to receiving the chips you only need 2 months for a 28nm chip, but it seems that shareholders care only about being able to trade shares and for mining with 3rd party chips(which is conflicting with the initial scope of the IPO).

[somestranger]

The last mention of it that I could find was from March 30th.

<snip>

Yes, and we are still working on developing our own 28nm chip.

That means that the project isn't paused/cancelled. From Tape Out to receiving the chips you only need 2 months for a 28nm chip, but it seems that shareholders care only about being able to trade shares and for mining with 3rd party chips(which is conflicting with the initial scope of the IPO).

It is unlikely that we have enough money to cover the tape out costs which are over $1M to my knowledge. I think Ken's plan is to profit off of selling these prospector/gold rush boards and mining in our farm in order to pay the tapeout costs.

The website really needs to be updated because it's extremely confusing having products that don't exist on the front page and in the shop which I'm sure is affecting sales of the existing products. Only 50 cards sold so far...

[JimmyJazz]

If we have dropped the 28nm then were totally fucked.

If Ken does not do what any respectable businessman would and addresses his shareholders with the development of the project he is defrauding us all.

END OF CONVO BBZ.

[drawingthesun]

If we have dropped the 28nm then were totally fucked.

This is why building our own ASIC is important:

http://imgur.com/a/CcIhX

Because competing with KNC using other companies chips is a quick way to die.

It would be nice for Ken to respond to KNC's huge mining farm @ 17PH/s and how we intend to compete. KNC will likely have 1,000PH/s by years end.

The total network hashrate at the end of the year will be about 2,500PH/s, so I overestimated how much KNC would have.

EDIT:

My calculations show if Ken is getting the whole package for less than $1GH/s we can compete for a while ONLY if Ken reinvests about 65% back into buying more hardware at $1GH/s.

If Ken can someone get our own ASIC then we can guarantee less than $1GH/s for the foreseeable future. Hashfast will either screw us eventually or die due to customers litigating against them.

[JoTheKhan]

Thank you Jimmothy,

I thought I must be high as shit right now.

[drawingthesun]

1,000PH/s by years end? That would definitely be over 50% right?

It's likely the total network hashrate will be about 2,500PH/s at the end of the year.

I think I underestimated how much the network would grow, I just did a 20% diff change calculation and it comes to around 2,500PH/s.

[drawingthesun]

KNC has 7PH not 17. And they will likely never go above 8PH since they are limited to a 10MW datacenter.

1,000PH would require 10% of swedens electricity..

If KNC have 10% of the network (2,500PH/s) at the end of the year we can expect that to be around 250PH/s.

Also they are about to release their 20nm very soon, it'll likely allow for these gains. I could be wrong.

[JoTheKhan]

KNC has 7PH not 17. And they will likely never go above 8PH since they are limited to a 10MW datacenter.

1,000PH would require 10% of swedens electricity..

If KNC have 10% of the network (2,500PH/s) at the end of the year we can expect that to be around 250PH/s.

Also they are about to release their 20nm very soon, it'll likely allow for these gains. I could be wrong.

I'm starting to think that Cryptocurrencies might be one of the most environmentally unfriendly forms of barter.

[drawingthesun]

I'm starting to think that Cryptocurrencies might be one of the most environmentally unfriendly forms of barter.

I wouldn't worry so much at the moment. Once we close in on the next halving then things will get very interesting.

The Bitcoin developers have to keep an eye on our competitors, so many green coins coming out. I am not a fan of POS however, because all the POS coins enrich the rich and create even more inequality.

To be honest I am really surprised KNC allowed someone to take these photos, they must have know the backlash would be huge on two fronts 1) they are still delayed in sending out miners but have built this farm and 2) people will start to see the 'centralised' nature of bitcoin in a different light, a more negative light.

[Jasun7211]

http://www.torelco.com/QEG-Generator.htmlhtthttp://www.torelco.com/QEG-Generator.html://www.torelco.com/QEG-Generator.html

I'm starting to think that Cryptocurrencies might be one of the most environmentally unfriendly forms of barter.

I wouldn't worry so much at the moment. Once we close in on the next halving then things will get very interesting.

The Bitcoin developers have to keep an eye on our competitors, so many green coins coming out. I am not a fan of POS however, because all the POS coins enrich the rich and create even more inequality.

To be honest I am really surprised KNC allowed someone to take these photos, they must have know the backlash would be huge on two fronts 1) they are still delayed in sending out miners but have built this farm and 2) people will start to see the 'centralised' nature of bitcoin in a different light, a more negative light.

It doesn't have to be....
http://be-do.com/index.php/en/

And for the lazy with some dough to throw...
http://www.torelco.com/QEG-Generator.html

[wasubii]

http://www.torelco.com/QEG-Generator.htmlhtthttp://www.torelco.com/QEG-Generator.html://www.torelco.com/QEG-Generator.html

I'm starting to think that Cryptocurrencies might be one of the most environmentally unfriendly forms of barter.

I wouldn't worry so much at the moment. Once we close in on the next halving then things will get very interesting.

The Bitcoin developers have to keep an eye on our competitors, so many green coins coming out. I am not a fan of POS however, because all the POS coins enrich the rich and create even more inequality.

To be honest I am really surprised KNC allowed someone to take these photos, they must have know the backlash would be huge on two fronts 1) they are still delayed in sending out miners but have built this farm and 2) people will start to see the 'centralised' nature of bitcoin in a different light, a more negative light.

It doesn't have to be....
http://be-do.com/index.php/en/

And for the lazy with some dough to throw...
http://www.torelco.com/QEG-Generator.html

LOL

By the way, I've got a bridge I'd like to sell - interested?

[Jasun7211]

Kind of but not really.  It is a Tesla patent and the blue prints are now a available.  We tend to think as electricty creation from exothermic, and endothermic reactions....this creates electricity via induction.    You have to change what they tought you in public school about electricity(similar to bitcoin vs. Fiat)....if anything at all.  It does work.

[kleeck]

Kind of but not really.  It is a Tesla patent and the blue prints are now a available.  We tend to think as electricty creation from exothermic, and endothermic reactions....this creates electricity via induction.    You have to change what they tought you in public school about electricity(similar to bitcoin vs. Fiat)....if anything at all.  It does work.

Could you point me to evidence of people using this design to generate electricity?

[lobbes]

Kind of but not really.  It is a Tesla patent and the blue prints are now a available.  We tend to think as electricty creation from exothermic, and endothermic reactions....this creates electricity via induction.    You have to change what they tought you in public school about electricity(similar to bitcoin vs. Fiat)....if anything at all.  It does work.

Could you point me to evidence of people using this design to generate electricity?

Lol,  I love this quote from the FAQ:

If ‘free’ energy devices work, why aren’t the electric companies using them?
This should be obvious but in case you need a reference, please see:

http://hopegirl2012.wordpress.com/

But back on topic:

Ken, what is the status of the financial reports?

[knybe]

KNC has 7PH not 17. And they will likely never go above 8PH since they are limited to a 10MW datacenter.

1,000PH would require 10% of swedens electricity..

If KNC have 10% of the network (2,500PH/s) at the end of the year we can expect that to be around 250PH/s.

Also they are about to release their 20nm very soon, it'll likely allow for these gains. I could be wrong.

I'm starting to think that Cryptocurrencies might be one of the most environmentally unfriendly forms of barter.

If you compared the production and consumption of massive amounts of physical fiat currency (printing, movement, storage, cost, etc.) to the energies it takes to create crypto-currrencies, I'm sure cryptos would come out more abundantly environmentally sound.