[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[arousedrhino]

Ken,

Any chance you would be willing to enlighten the shareholders as to what the 300 BTC were spent on today?

More mining equipment would be my guess but it would be great to hear from you about it.

Thanks

[klondike_bar]

Aww man, just as it looks like things are picking up someone goes and files a lawsuit, damn Americans and their "sue everyone" tendencies. Just kidding, but really I hope this is resolved soon so we can get back on track, although this will require Ken to step up and be completely open about whatever's gone down, regardless of how bad it is.

Sadly its true, you have over-invested panicky Americans who think the courts will save them from their own financial mistakes when the only person that can be blamed is themselves for committing too much money to this security.

Ken hasn't done a great job but this lawsuit doesn't make sense at this time. A month ago we had nothing so it had logic, now there actually have been shipped products(albeit poorly) and we are actually hashing so that seems like an ideal time to try to ruin your investment prospects by filing more lawsuits.

The complaints are about much more than a few poorly packaged and shipped hashfast boards.

[arousedrhino]

Aww man, just as it looks like things are picking up someone goes and files a lawsuit, damn Americans and their "sue everyone" tendencies. Just kidding, but really I hope this is resolved soon so we can get back on track, although this will require Ken to step up and be completely open about whatever's gone down, regardless of how bad it is.

Sadly its true, you have over-invested panicky Americans who think the courts will save them from their own financial mistakes when the only person that can be blamed is themselves for committing too much money to this security.

Ken hasn't done a great job but this lawsuit doesn't make sense at this time. A month ago we had nothing so it had logic, now there actually have been shipped products(albeit poorly) and we are actually hashing so that seems like an ideal time to try to ruin your investment prospects by filing more lawsuits.

The complaints are about much more than a few poorly packaged and shipped hashfast boards.

I was just outlining that we finally started moving in a positive direction at which time people decide to file lawsuits. However when everything was negative, lawsuits were not being filed we did have the MSD investigation started and given the lack of information it made sense that it was filed. It doesn't make much sense to file the lawsuit when things are finally looking up, the biggest issues we have had at this moment are shipping, refunds, financial report, and getting the hashrate to 170 TH. The shares have always been an issue for the last 6 months so if the shares are the reason for the lawsuit I don't understand why it wasn't filed months ago Ken has been stonewalling on those for months now.

[kslaughter]

Weekly Update 4/30/2014

AMC:

Datacenter:

We are continuing to add TH; however, at this point our 2 units of air conditioning are maxed out.  We have been repairing the third unit and it should be up and running next week when parts arrive.  After the third unit starts running we will be adding more THs to the datacenter.

VMC:

We are improving our logistics and our shipping is starting to run a lot smoother.  We have just added our Gold Rush boards to the website and at less than $2 GH these are starting to sell.

MSD:

No new news this week.

Shares:

No new news this week.

[MilkyWayMasta]

Weekly Update 4/30/2014

AMC:

Datacenter:

We are continuing to add TH; however, at this point our 2 units of air conditioning are maxed out.  We have been repairing the third unit and it should be up and running next week when parts arrive.  After the third unit starts running we will be adding more THs to the datacenter.

VMC:

We are improving our logistic and our shipping is starting to run a lot smother.  We have just added our Gold Rush boards to our website and at less than $2 GH these are starting to sale.

MSD:

No new news this week.

Shares:

No new news this week.

Financial Report?

[hobbymd]

Weekly Update 4/30/2014

AMC:

Datacenter:

We are continuing to add TH; however, at this point our 2 units of air conditioning are maxed out.  We have been repairing the third unit and it should be up and running next week when parts arrive.  After the third unit starts running we will be adding more THs to the datacenter.

VMC:

We are improving our logistic and our shipping is starting to run a lot smother.  We have just added our Gold Rush boards to our website and at less than $2 GH these are starting to sale.

MSD:

No new news this week.

Shares:

No new news this week.

Financial Report?

i guess financial report is history    funny part is ken so blatantly ignoring this financial report weeks after weeks . He got some balls to keep going like this

[MilkyWayMasta]

He probably can't post ANY information until the MSD investigation is cleared up. 

[hobbymd]

He probably can't post ANY information until the MSD investigation is cleared up. 

last year we had eASIC NDA crap to deal with and this year we have MSD nonsense maybe next year we get SEC to deal with if we survive this one

[drasted]

There's no reason that the MSD would stop him from posting a financial report. He's said that he will post the report while the investigation has been on. He's got someone else to put together the report so it's not that he's too busy doing something else.

The only reason he has to not post it is either because he doesn't want to or that his company is so poorly managed that they can't figure out what they've spent.

[chairforce1]

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.
• 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? 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?

[kslaughter]

24 Hour Sale on our Gold Rush boards $200 off with this voucher K0JLPCYB

Limited to the first 25 boards sold.

[gogxmagog]

I really wish ken would address the lawsuit and MSD investigation. Both are troubling.

[klondike_bar]

Weekly Update 4/23/2014.

Datacenter:

We are up to 64.34 Th/s and expect by the end of the month to be around ~170 TH/s.  Everything is in place to expand our hash rate to this level.

Ken could you clear up the meaning of the text above that I've bolded.  It suggests that we will be at 170 TH by the end of the month which is only one week away.  Did you actually mean we will be at 170 TH one month from now?

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.

Weekly Update 4/30/2014

Datacenter:

We are continuing to add TH; however, at this point our 2 units of air conditioning are maxed out.  We have been repairing the third unit and it should be up and running next week when parts arrive.  After the third unit starts running we will be adding more THs to the datacenter.

In the course of one week you planned to install >100TH, but only installed <10TH. Assuming your third broken AC is the same as the first two, its unlikely that you will be able to get above a total hashrate of 100TH total, let alone 170TH or more

[WildFire.ca]

There's no reason that the MSD would stop him from posting a financial report. He's said that he will post the report while the investigation has been on. He's got someone else to put together the report so it's not that he's too busy doing something else.

As a Federally Covered Securities issuer Ken is required by law to publish financials.
http://www.investopedia.com/terms/a/annualreport.asp

Weekly Update 4/30/2014
Datacenter:
We are continuing to add TH; however, at this point our 2 units of air conditioning are maxed out.  We have been repairing the third unit and it should be up and running next week when parts arrive.  After the third unit starts running we will be adding more THs to the datacenter.

That means that the most TH that the DC your currently in can handle is 114Th/s. Are you looking for a new DC, or do you have some other plan. It's not even summer yet so when it warms up I doubt we will even be able to run the 114/Th/s

[thefunkybits]

Welp its all downhill from here boys!   With our hashrate climbing daily and the most competitive mining equipment on the market in stock (as well as assets that magically print money) imminent failure is upon us and curses await the stupid, hopeless shareholders

smh...

 
In reality the only thing left to plague this company is an investigation that just loops back on itself (shareholders are unable to trade because of legal uncertainty, eventually an investigation will lead to this conclusion and things will be made more clear). There are solutions being built everyday to build more secure and legal platforms for micro-ownership and decentralized stock. VMC/ACTM are clearly running a legitimate business at this point and for these legal threats to materialize into anything of substance would be shocking (the pace of the legal system will continue to be outdone by the pace of our success)

[knybe]

Weekly Update 4/30/2014

AMC:

Datacenter:

We are continuing to add TH; however, at this point our 2 units of air conditioning are maxed out.  We have been repairing the third unit and it should be up and running next week when parts arrive.  After the third unit starts running we will be adding more THs to the datacenter.

VMC:

We are improving our logistic and our shipping is starting to run a lot smother.  We have just added our Gold Rush boards to our website and at less than $2 GH these are starting to sale.

MSD:

No new news this week.

Shares:

No new news this week.

gee thanks Ken!

pffffftt, fizzle pop and out. what a great waste of a year, an absolute and unequivocal write-off.

if anyone's interested in acquiring my bitcointalk account, it's up for grabs: PM me.



good luck all.

[VinceSamios]

Weekly Update 4/30/2014

AMC:

Datacenter:

We are continuing to add TH; however, at this point our 2 units of air conditioning are maxed out.  We have been repairing the third unit and it should be up and running next week when parts arrive.  After the third unit starts running we will be adding more THs to the datacenter.

VMC:

We are improving our logistic and our shipping is starting to run a lot smother.  We have just added our Gold Rush boards to our website and at less than $2 GH these are starting to sale.

MSD:

No new news this week.

Shares:

No new news this week.

Update on my order:

It has been market as shipped - I don't think I have a tracking number (but I haven't looked in detail)

My advice to Ken, as someone who ships products to customers myself, is to improve the sales flow in both speed and communication. As soon as payment is received send a confirmation to the customer. Ship the item as quickly as possible and provide a tracking number ASAP. Simple things like this are super important to customers experience, reputation, and ultimately sales.

Regarding the TH rollout - things need to accelerate. Adding just 10TH/week is going to fall behind difficulty growth fairly soon. You should have A/C installed for 400TH if you're aiming to have 200TH online. If you need more hands to help install gear, get more hands. If you're planning a 7 day rollout, get enough hands to do it in 3.

In this game time is literally money.

But all in all things are looking positive and keep this baby on course :-)

[VinceSamios]

Preparing...

I went for the Corsair H100i to hopefully reduce potential noise levels and increase scope for overclocking. Same with the Liquid Ultra.

[VinceSamios]

Ya i have H80i's and 650RM from corsair .
I have already installed them on 4 of the boards - http://imgur.com/qGYFeqN
1 works perfect .
I still have to install on one other board .
Ill do that 2mro .

Do you have gold rush boards or prospectors? I'm wondering if the 650RM's aren't providing enough power... Gold rush boards will need 850w I think.

[rogerli9]

Ya i have H80i's and 650RM from corsair .
I have already installed them on 4 of the boards - http://imgur.com/qGYFeqN
1 works perfect .
I still have to install on one other board .
Ill do that 2mro .

Do you have gold rush boards or prospectors? I'm wondering if the 650RM's aren't providing enough power... Gold rush boards will need 850w I think.

He got prospectors he told me via pm cause i have been contacting him lately about my 6 orders that i am still waiting for. I just wish i can get some tracking