[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[JoTheKhan]

What is the profit per share generated from the recent mining endeavors and equipment sale so far?

No shares = no share holders = no profit for us.

But lets assume there is for a moment.

10,00,000 public shares.

120BTC for Dividends ( 60 from before this new mining endeavor, 60 mined with this new equipment)

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

120/10,000,000 = 0.000012 BTC a share

= $0.00534 a share at BitStamp's going price of $445/1BTC

[kslaughter]

are you kidding?

http://lmgtfy.com/?q=adjustable+breaker

sorry now i did my research - they are real but IMO not a very good method of cicuit overload protection when the key safety component can be adjusted to higher/lower sensitivity. 

What happening is that under load the voltage was going down to 115 which caused the overload.  Our electrician came over on Sunday morning and adjusted the voltage up to 130 which under load went down to 122 and solved the problem.

[Simon Templar]

He's not only solved that problem but allowed us to climb another place in the Contributors list as WildFire has pointed out.  Good work guys.  Slowly catchy monkey.  

[Elokane]

What is the profit per share generated from the recent mining endeavors and equipment sale so far?

No shares = no share holders = no profit for us.

What do you mean "no shares"? There's still a share ledger and shareholders. It's just not implemented anywhere.

[snowdropfore]

70th now, we stll have 100th to go?is it enough time ? left 3 days.

[Subcide]

So up until the problems over the weekend, we'd been adding about 5TH/s every 2 days roughly.  Ken, do you have a revised estimate for the 170TH/s?  Adding over 100TH/s in even 10 days (a week overdue) seems like we'd have to at least double our throughput to achieve. 

A realistic estimate is better than a hopeful one.

Thanks.

[LorenzoMoney]

ActM is now down to #8

Were # 6 on Elgius now, Nice work Ken.
http://eligius.st/~wizkid057/newstats/topcontributors.php

[Ozymandias2]

So up until the problems over the weekend, we'd been adding about 5TH/s every 2 days roughly.  Ken, do you have a revised estimate for the 170TH/s?  Adding over 100TH/s in even 10 days (a week overdue) seems like we'd have to at least double our throughput to achieve. 

A realistic estimate is better than a hopeful one.

Thanks.

70th now, we stll have 100th to go?is it enough time ? left 3 days.

The farm is expected to be up to 100th/s around the end of april and up to 170th/s around the end of May.

[funkymunky]

Sorry, Ken clarified the other day that it would be within days:
https://bitcointalk.org/index.php?topic=462370.msg6380807#msg6380807
"No, we have everything in place and my Project Manager has told me to expect ~170 TH by the end of the month.  It may take a week or so longer as there are only a few more days left in this month, but we do have everything is place to put THs on line quick."

So up until the problems over the weekend, we'd been adding about 5TH/s every 2 days roughly.  Ken, do you have a revised estimate for the 170TH/s?  Adding over 100TH/s in even 10 days (a week overdue) seems like we'd have to at least double our throughput to achieve. 

A realistic estimate is better than a hopeful one.

Thanks.

70th now, we stll have 100th to go?is it enough time ? left 3 days.

The farm is expected to be up to 100th/s around the end of april and up to 170th/s around the end of May.

[TooDumbForBitcoin]

What happening is that under load the voltage was going down to 115 which caused the overload.  Our electrician came over on Sunday morning and adjusted the voltage up to 130 which under load went down to 122 and solved the problem.

Until you add 6% more load to that circuit.  Are you planning to add any new load to that circuit?

[Subcide]

Ah you're right Ozymandias2, my bad.  At 10 days that seems achievable then.  All good.

[wonker]

What is the profit per share generated from the recent mining endeavors and equipment sale so far?

No shares = no share holders = no profit for us.

What do you mean "no shares"? There's still a share ledger and shareholders. It's just not implemented anywhere.

Shareholders have shares.
Shareholders can buy or sell their shares if they want or need to.
Shareholders are getting dividends if there is a profit.
Shareholders can see a financial support.
Shareholders are not lied to again and again and again...

We are no shareholders anymore since ages...

[minerpart]

ActM is now down to #8

Sorry but LOL.

The placing on Eligius does not really matter does it? It's just something to get a bit excited about when we go up a place. % of total network hash is the important bit.

Also there is less than a single TH/s between 6th 7th and 8th place on Eligius:

6th - 67.87 TH/s
7th - 67.71 TH/s
8th - 67.02 TH/s (actm)

So don't worry, we will go up and down through the ranks during this period of expansion (and tripping breakers).

[lobbes]

This is a really good point.  What is so difficult about bringing the website up to date?  Should this not be a priority?    Put me in charge for 24 hours please and I'll have a meeting to start the day, "Right, who's in charge of the website then?  You? Right.  I want it brought up to date and you've got until 3pm.  Right, who's in charge of shipping...?  Now get the MSD on the phone..."

++++

If only Ken had something, like an advisory board, to look over things like the website and make recommendations...

[JoTheKhan]

This is a really good point.  What is so difficult about bringing the website up to date?  Should this not be a priority?    Put me in charge for 24 hours please and I'll have a meeting to start the day, "Right, who's in charge of the website then?  You? Right.  I want it brought up to date and you've got until 3pm.  Right, who's in charge of shipping...?  Now get the MSD on the phone..."

++++

If only Ken had something, like an advisory board, to look over things like the website and make recommendations...

Ingenius idea ol' chap. Ingenius. I wonder why we never thought of that before.. /s

[minerpart]

Hi Ken,

So we have these One Gold Rush boards on the site now and the listing says they are 512GH/s but the details section ('Board Highlights') says they are 750TH/s. You also said they were typically 750 so must be a typo in the listing?


It also says under availability - 'more coming soon'. So does that mean we have sold a bunch of these? If so can you say how many roughly and where the profit from these boards will go? Are you doing a 100% reinvest into the company or are you setting some aside for the shareholders?

btw I think the majority on here have said they are happy with the idea of a 100% reinvest for now as we get the business going.


Thanks man.

[drawingthesun]

Hi Ken,

So we have these One Gold Rush boards on the site now and the listing says they are 512GH/s but the details section ('Board Highlights') says they are 750TH/s. You also said they were typically 750 so must be a typo in the listing?


It also says under availability - 'more coming soon'. So does that mean we have sold a bunch of these? If so can you say how many roughly and where the profit from these boards will go? Are you doing a 100% reinvest into the company or are you setting some aside for the shareholders?

btw I think the majority on here have said they are happy with the idea of a 100% reinvest for now as we get the business going.


Thanks man.

I was only ok with 100% reinvest because I assumed share trading was around the corner. Now we know an investigation can take 12 months I am sure many people will back me in at least getting 25% - 40% of profit paid out direct as a dividend to our addresses. Many of us would like the dividend now instead of next year.

I am in agreement for 60% - 75% of profits being reinvested however.

Who agrees with me?

[chairforce1]

Has VMC sold miners lately? I check the website at least once every two days and I have seen 163 Prospectors in stock for a while and I believe this is an issue. Can you, Ken, or anybody else address the following concerns? Thanks.

Some concerns regarding Prospector sales:

• The longer those sit there the higher the opportunity cost of not having them mining.
• Negative customer service posts. Apart from Bargraphics, and the random person somebody posted an eligius address for, I haven't seen anybody posting positive reviews
• Obviously the website.
• The new Gold Rush board and how it will affect the Prospector board sales.

On a separate note, can we have a list of what all employees are working on? From my perspective I see hashrate going up slowly and a new thumbnail on the website. This doesn't seem that great. Maybe I am underestimating the difficulty of getting miners operational. Is the entirety of VMC's workforce allocating 100% of their time to putting miners online? From the first page of this thread AMC only employs Ken. I'm led to believe VMC is not putting up hashing in the datacenter. Is this true? Is AMC contracting VMC or is it a third party? According to the front page of this thread VMC employs six people. I would like accountability for the 240 weekly man hours, assuming a normal 8 hour work day. As CEO I would expect Ken to easily surpass the standard 8 hour work day.

Another note, what are shareholders paying you, Ken, and the rest of VMC's workforce? According to the first page of this thread Ken is employed by VMC and AMC. Are you, Ken, getting paid by both entities?

A third note. The first page of the site says VMC's 2013 sales are 6.3 MILLION USD...?

A fourth note. On the topic of the first page of this thread, can there be some updates? Is this first page supposed to be a reference for VMC/AMC's current snapshot? It still says things like, "Weekly update from 29/1/14 - 'We are expecting to add 1 to 2 Petahashs of mining [from 55nm chip] in Q2.' ". ^{Why was this considered not profitable?}

I could go on...

So we have these One Gold Rush boards on the site now and the listing says they are 512GH/s but the details section ('Board Highlights') says they are 750TH/s. You also said they were typically 750 so must be a typo in the listing?

It looks like a lackadaisical copy and paste job.

[JoTheKhan]

Hi Ken,

So we have these One Gold Rush boards on the site now and the listing says they are 512GH/s but the details section ('Board Highlights') says they are 750TH/s. You also said they were typically 750 so must be a typo in the listing?


It also says under availability - 'more coming soon'. So does that mean we have sold a bunch of these? If so can you say how many roughly and where the profit from these boards will go? Are you doing a 100% reinvest into the company or are you setting some aside for the shareholders?

btw I think the majority on here have said they are happy with the idea of a 100% reinvest for now as we get the business going.


Thanks man.

I was only ok with 100% reinvest because I assumed share trading was around the corner. Now we know an investigation can take 12 months I am sure many people will back me in at least getting 40% of profit paid out direct as a dividend to our addresses. Many of us would like the dividend now instead of next year.

I am in agreement for 60% of profits being reinvested however. But I cannot get behind 100% because it's likely the funds will be misspent at some point.

Who agrees with me?

I am with 100% Reinvestment after a Good Faith event has been proven with our shares. By this I mean we have our shares and some Dividend has been paid out for it. Specifically I am with 100% reinvestment if these things happen:

• Shareholders get access to our shares on a exchange the majority has accepted. Whether it be some Decentralized Exchange/Havelock/(Whatever)
• A legitimate Financial Audit happens (I don't want Ken to just reinvest 100% if it isn't going to help anything)
• Ken lays our a plan for the realistic plan for the foreseeable future. By this I mean that Ken lays out a path, really any path that can hold up to criticism about where he wants to take this company over the next 6-9 Months.

I am a long time shareholder, plan to stay a long time shareholder, and I doubt my views line up with everyone here. If anyone disagrees with me please let me know I am always willing to listen/learn.

[drawingthesun]

I am with 100% Reinvestment after a Good Faith event has been proven with our shares. By this I mean we have our shares and some Dividend has been paid out for it. Specifically I am with 100% reinvestment if these things happen:

• Shareholders get access to our shares on a exchange the majority has accepted. Whether it be some Decentralized Exchange/Havelock/(Whatever)
• A legitimate Financial Audit happens (I don't want Ken to just reinvest 100% if it isn't going to help anything)
• Ken lays our a plan for the realistic plan for the foreseeable future. By this I mean that Ken lays out a path, really any path that can hold up to criticism about where he wants to take this company over the next 6-9 Months.

I am a long time shareholder, plan to stay a long time shareholder, and I doubt my views line up with everyone here. If anyone disagrees with me please let me know I am always willing to listen/learn.

I would most certainly be ok with 90% reinvestment after such a "good faith" event. If we are trading and getting the 10% dividend for example.

The reason why I am no longer ok with super high reinvestment is because many of these investigations have taken 12 months, and thats a very long time in the world of Bitcoin to get access to our property. Essentially the investigation has taken our very shareholder rights away and we are awaiting the US Government in being allowed to have our property returned to us. Because of this I would love to get the dividend so if the investigation forces Ken to shut down and lose our investment, we still make off with a little amount of our original invested amounts.

Even if I can get one bitcoin returned from the dividend it's better than zero for my 400-500 bitcoin investment in this company.