[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[Bargraphics]

Great, not very formal coming from a news article. Might be cheaper to sue if your correct!

Good thing you have your Jupiters because this imploded as expected and as predicted.

The jupiters are old man, I've had 100TH+ running of Bitfury equipment for ~2 months now.

I believe everyone knew that if the MSD came in and ruled "against" Ken it was over.

If they just walked away then Ken could probably keep on going until the next "bump in the road".


Once refunds are fully open the liquidity of this company will vanish, all the money will be used towards paying back investors, the leftover will be used to fight woodlaw who will likely piggyback off the MSD ruling. Anything that is left will be used to pay MSD Fines.

I don't believe after this there will be any money to produce the HashFast boards needed even if Ken even gets selected as the vendor to do so.

[Jasun7211]

DTS,

You are wrong.

You are wrong because the "smart investors" are not to blame.

The investors that sought big brother because they actually think the Government cares about them are partially to blame for the fine. Had this been left alone I am sure Ken would have failed eventually anyway, he has no idea what he's doing. However the investors are to blame for cutting the cord short.

What purpose does the fine serve? To simply enrich the MSD at the expense of the investors? Notice how that money will not be used for share buy back, Ken has to share buy back with the left over money.

That fine is essentially legal theft and deprives us of that money.

Ken is to blame. Had he been honest from thebeginning, had he done what he promised, had he not ignored the advisory board, had he not played the NDA game, the company would be in great shape and there would have been no unhappy investors.

What you are saying is equvalent to a man yelling at his wife who is hupset that he is being arrested, "Honey! If you hadn't called the police when I beat you, the cops wouldn't be taking me away."

All that being said, Ken has some serious nerve calling this all a bump in the road. The road is unpaved and full of potholes.
This is more than a bump. It is a sign saying, bridge out.

The solution is simple: Ken, produce and make public a proper financial report. Also, answer all the lingering questions peopel have been asking for months.


Lorenzo Money

For the rest of your reply I agree, Ken has done everything wrong.

I hate the man, I can understand VE's anger now.

From what I understand it was VE's greed that blew up the eASIC deal.  I would do the same thing if I were eASIC if the story is correct.  If anything VE's actions and the continued fallout from them are more to blame, and is a major factor imo for the way Ken is.  I'd keep my cards close to my chest if a manic investor of mine started pounding the eASIC phone lines like that.  

In the big picture I hope most of the shares are in stronger hands and we can ride this to the moon or to 0 satoshis without much more external influence.    1000 freakin satoshis per share....1000 freakin satoshis....lol

[Phildo]

DTS,

You are wrong.

You are wrong because the "smart investors" are not to blame.

The investors that sought big brother because they actually think the Government cares about them are partially to blame for the fine. Had this been left alone I am sure Ken would have failed eventually anyway, he has no idea what he's doing. However the investors are to blame for cutting the cord short.

What purpose does the fine serve? To simply enrich the MSD at the expense of the investors? Notice how that money will not be used for share buy back, Ken has to share buy back with the left over money.

That fine is essentially legal theft and deprives us of that money.

Ken is to blame. Had he been honest from thebeginning, had he done what he promised, had he not ignored the advisory board, had he not played the NDA game, the company would be in great shape and there would have been no unhappy investors.

What you are saying is equvalent to a man yelling at his wife who is hupset that he is being arrested, "Honey! If you hadn't called the police when I beat you, the cops wouldn't be taking me away."

All that being said, Ken has some serious nerve calling this all a bump in the road. The road is unpaved and full of potholes.
This is more than a bump. It is a sign saying, bridge out.

The solution is simple: Ken, produce and make public a proper financial report. Also, answer all the lingering questions peopel have been asking for months.


Lorenzo Money

For the rest of your reply I agree, Ken has done everything wrong.

I hate the man, I can understand VE's anger now.

Why so upset that the money is going to Missouri? All the money is going down the drain anyway. If it wasn't going to missouri it was going to get wasted on salaries or whatever the hell else Ken has been doing for months.

[drawingthesun]

Why so upset that the money is going to Missouri? All the money is going down the drain anyway. If it wasn't going to missouri it was going to get wasted on salaries or whatever the hell else Ken has been doing for months.

I was hoping for some type of dividend from that mining address. :p

What makes me upset is we input money and it's now not just Ken playing around with it like it's playdoh but now the US Government profits from my money. My money was used to buy those boards and the proceeds are now going to Uncle Sam.

I love how the US thinks it's entitled to anything it wants.

Actually not think, but is, the US is entitled to anything it wants.

It doesn't surprise me that the US is the most hated nation in the minds of most other non-US "westerners".

[Jasun7211]

Why so upset that the money is going to Missouri? All the money is going down the drain anyway. If it wasn't going to missouri it was going to get wasted on salaries or whatever the hell else Ken has been doing for months.

I was hoping for some type of dividend from that mining address. :p

What makes me upset is we input money and it's now not just Ken playing around with it like it's playdoh but now the US Government profits from my money. My money was used to buy those boards and the proceeds are now going to Uncle Sam.

I love how the US thinks it's entitled to anything it wants.

Actually not think, but is, the US is entitled to anything it wants.

It doesn't surprise me that the US is the most hated nation in the minds of most other non-US "westerners".

It's actually not Uncle Sam.  It is more Huck Finn and the Show me State blues gang.  I agree with the US perspective.  Thats why after this you will find me on a beach in Rio.  Anyone going to the World Cup soon?

[Phildo]

Why so upset that the money is going to Missouri? All the money is going down the drain anyway. If it wasn't going to missouri it was going to get wasted on salaries or whatever the hell else Ken has been doing for months.

I was hoping for some type of dividend from that mining address. :p

What makes me upset is we input money and it's now not just Ken playing around with it like it's playdoh but now the US Government profits from my money. My money was used to buy those boards and the proceeds are now going to Uncle Sam.

I love how the US thinks it's entitled to anything it wants.

Actually not think, but is, the US is entitled to anything it wants.

It doesn't surprise me that the US is the most hated nation in the minds of most other non-US "westerners".

You were never going to get anything worthwhile as a dividend. The dividend was supposed to be from profits, how can this company have any profits when the preorders from November are still lurking in the background and people that sent bitcoins last week are freaking out because they are having zero communication?.

[drawingthesun]

You were never going to get anything worthwhile as a dividend. The dividend was supposed to be from profits, how can this company have any profits when the preorders from November are still lurking in the background and people that sent bitcoins last week are freaking out because they are having zero communication?.

I was hoping that Ken was making enough from boards to pay the pre-order liabilities.

In any case, I wasn't 100% sure of this so that is why I had sold some shares.

However, having to give our last money to the MSD really does irritate me, how does that help? I wonder if the lead litigant sitting over at the MSD makes commision?

[drawingthesun]

then you shoudn't have gone into business with several people in the US.

This is true, at the time I expected the company to run in similar fashion to ASICMINER, being out of sight.

Yes yes, I was very naive.

[Phildo]

then you shoudn't have gone into business with several people in the US.

This is true, at the time I expected the company to run in similar fashion to ASICMINER, being out of sight.

Yes yes, I was very naive.

The difference between this and ASICMINER isn't government intervention, it's that they were successful.

I had this conversation with Minerpart, but it somehow got deleted. You guys went into a business collaboration with lots of people. When there is a business collaboration everyone has to do their part or the whole thing falls apart. If the business is illegal or questionably illegal, one of the risks is that someone who is unhappy will run to the authorities.

you guys gave money to ken to make miners, he didn't do that. Someone in the collaboration was unhappy and did went to the authorities to make it right. Complain about the government all you want, but the truth is the government wouldn't be involved if Ken kept all his investors happy.

[damiano]

Is anyone speaking with Woodlake atm?  I'm just wondering if that's an avenue I should look down..

[Phildo]

glad to see that the censorship is back, although that was a very odd choice of post to delete.

[zumzero]

In other news.  I got my shares today!! 

Anyone else?

[ActM Thread]

The deleted posts were purely due to the quoting of a banned poster.

[noah tall]

.... The MSD gets its $100,000...

maybe

... pay a fine of up to $100,000 ...

maybe not

[Jasun7211]

.... The MSD gets its $100,000...

maybe

... pay a fine of up to $100,000 ...

maybe not

That is a piece of my thinking as well.  Lets say the fine is only 20K and the price of BTC continues to rise  before the money is due....which could  be 180 days. 

[sparky999]

When the dust settles there is a very good chance ActM comes out of this deal way way ahead. MSd will never rule in anything othwer than uS dollar and I tyhink most people agree bitcoin is about to enter another growth phase, it really is possible that ken gets to buy back shares when bitcoin is $3-4k range!

[Bargraphics]

When the dust settles there is a very good chance ActM comes out of this deal way way ahead. MSd will never rule in anything othwer than uS dollar and I tyhink most people agree bitcoin is about to enter another growth phase, it really is possible that ken gets to buy back shares when bitcoin is $3-4k range!

Sparky, please let a dead company die.

Regardless of Bitcoin price Ken will never be able to repay the 0.0025 owed to investors especially after getting all this money taken from him by the MSD.


I would have loved nothing more than to see this company succeed and in fact I went above and beyond to give Ken connections that basically kept him afloat this far.

Time to call time of death.

[Jasun7211]

When the dust settles there is a very good chance ActM comes out of this deal way way ahead. MSd will never rule in anything othwer than uS dollar and I tyhink most people agree bitcoin is about to enter another growth phase, it really is possible that ken gets to buy back shares when bitcoin is $3-4k range!

Exactly there are major arbitrage opportunities within arbatrage opportunities here!!!!  You just need to fully understand the State's mind and methods. vs. your average bitcoin investors mind.  Thats the fundamental basis of this section,  Plus shares are now in more limited supply by stronger hands that will not sell at the drop of a hat because they feel some sort of way about Ken.  Also, there are many new people entering the BTC space as we speak. Once they fid out that BTC has its own exchanges and stocks there will be another wave of investors that are going to want to find a place they can  (or think they can invest their BTC for gain).

[Phildo]

When the dust settles there is a very good chance ActM comes out of this deal way way ahead. MSd will never rule in anything othwer than uS dollar and I tyhink most people agree bitcoin is about to enter another growth phase, it really is possible that ken gets to buy back shares when bitcoin is $3-4k range!

How so? A big bunch of coins disappeared at the last peak, and the only time we know ken spent money (recently giving it to hashfast) probably resulted in selling coins right before the price going up.

You guys are putting an awful lot of confidence in a guy who has fucked up several times and has given you absolutely no evidence of how much money is left.

[tempestb]

Ken does not know what the deal is yet.  The MSD are waiting for their (Ken and his lawyer) idea of what it should be.  The MSD is likely to change it and submit their own plan and this will go back and forth for awhile.  Until the MSD accepts the deal and outlays that for everyone, a lot of what is happening with reimbursement is guessing.

Ken does not know what the fines will be.  He's guessing (or his lawyer is telling him) that the maximum fine is $100,000.  That is a guess based on a single infraction.  The MSD can fine him multiple times and even put him in jail if they want to.  Though they probably won't unless Ken fails to pay or tries to deceive them.  They can also charge him a lot less than $100,000.  It really depends on how they see it.

Keep in mind, this is a State investigation.  It does not clear Ken from a potential federal investigation which would be a lot worse.

The MSD said that Ken would not be allowed to sell shares.  Those of you with shares could end up with nothing.  If Ken deploys funds to your shares, such as a dividend payout, he will be in violation of his agreement with the MSD.  And he could face severe fines or jail time.

Your best bet is to get out.  

Honestly, Ken should liquidate the company.  There is no money left for anything.  Just sell off while the hardware can fetch a profit and distribute to shareholders.  

Liquidate.