[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[mannybitcoins]

Ken when are you expecting to start the liquidation process? This seems to be the only logical way to move forward considering your inefficiencies and lack of knowledge in this field, as proven by your constant blunders and inability to get anything done.

[MilkyWayMasta]

These remaining Bitcoins need to be kept offline in multiple  cold wallets otherwise they could be lost to a hack.  Ken can you confirm you are storing the coins in cold wallets? It's crucial.  

Yes, all of our bitcoin's are in a cold wallet.

Post the pubic addresses.

[drawingthesun]

Remember Active Mining has paid out or is going to pay out $ 462,115.81  in dividends.  So, Active Mining has gave a lot of money back.

Ken this is such a lie.

You paid back 90% of that money when the price was $100 a bitcoin.

Please prove ownership of a 1500 bitcoin address. Your going to have to use our funds to pay back our customers.

[bitdog101]

Weekly Update 3/5/2014

2.  How many bitcoins were on MtGox and why where they there to begin with?

VMC's 453 BTC from Pre-Orders.  No Active Mining BTC was lost.

3.  How much did ActM lose on the cancelled 55nm deal?

Less than $1,000 plus Active Mining shares.  At the same time we gained a lot of experience and the help of 2 engineers.  I think in the long run it will be a net positive.

3.1 Were the 55nm ever even taped out? Do you have any proof of their existence?

The 55nm was taped out on a shuttle run.  Production run was not taped out.

3.3 How much money did ACTM lose in the 28nm eAsic failure?

This has not be finalized as of this date.  We are working this week a plans which will recover the complete eASIC NRE.

5. Proof of a 55nm deal, proof of a tapeout. They were offered as preorders: https://bitcointalk.org/index.php?topic=297503.msg5129392#msg5129392 and https://bitcointalk.org/index.php?topic=464145.msg5129458#msg5129458

The tapeout was the shuttle run for prototypes.  This was cancelled and transferred to a production run, which was then cancelled also.

6. Intellihash?? Can you please explain what this is/was and how this factors into everything?

Not any more than what has been explained before.

Can you please give us ANY proof of ANY of the above.

Crypto-trade is up and running in audit mode. As specified on their page during the 2-3 weeks audit "All people can either withdraw their funds or can keep in our site. Trading and API will be disabled during the auditing period. All the withdrawals will be processed manually.". I hope Ken will get the shares list and keep it secured.

Ken please get the asset list ASAP.

I will get it today.

Have you got the asset list?

Virtual Mining Corporation 02/27/14
 
Virtual Mining is currently processing and confirming pre-order refund requests. It is a very timely process because we are in the final stages of configuration before all of our pre-orders are shipped. Look to your email for product shipping order schedule. At the current time we are not immediately moving every order to a refund status due to our final staging and rigging our products for shipping.
 
We are contacting all of our valued customers with pre-orders  with our new product specification details that includes an increase in hashing power.  This increase in hashing power will make up for our delay in shipping.  Should any of our customers still wish to receive a refund even with the increase in hashing power please contact our customer service department.
 
Thank you for your continued patience and good luck on your Mining Ventures
 

How are you configuring and getting ready for shipping without any chips? Do you have 28nm chips?

Hi,
One user, coindesk12, has received a refund, but only after filing a complaint with the Attorney General ( https://bitcointalk.org/index.php?topic=206488.msg4699254#msg4699254 ).

Others are pretty much where you are:

...
It's now been 8 weeks since I requested my refund and still have not got my money back.

Ken Slaughter is being investigated for securities fraud,

Weekly Update 2/19/2014
...
Management is preparing for the MSD investigation, management believes that the MSD will clear VMC of any wrong acts in Missouri as VMC has NOT offered ActiveMining shares.
...

@
...so, in all likelihood, your shares are a total loss.

On the other hand, consumer fraud is an entirely different kettle of fish, and would be extremely damaging to Ken's securities case.
You're likely to get a refund if you follow coindesk12's example.

This is a moderated thread, and this post is likely to get deleted.  I'm sending you a copy via PM.

All the best.

@V2Rocket, you should get your facts correct coindesk12 contacted the Attorney General to get a shipping date.  VMC issued a refund  due to the fact that at the time we did not have a confirmed shipping date for coindesk12.  Coindesk12 did not want a refund.

The above 2 posts were posted by Ken on the SAME day.

Our project manager and engineers have worked to get a chip that can be air cooled, this will work in our expansion cases.  The project manager with our engineers has managed to reduce the cost of the expansion cases to about 25% of what the cost was.  This will be changed on our website soon.

Am i missing something? How is the possible? You have been working on something with no chips or with chips that have been canceled? How do you even have a board at this point? On a further note how does intellihash work when you don't even know what the chips look like?

Pre-Order 55nm Chips Shipping April 17,2014

How were you selling pre-orders for a product you knew you were going to cancel or had already canceled or that you thought might be canceled ? How come no announcement was made about not accepting pre-orders because you had no chips or chips were going to be delayed/canceled?

[zumzero]

Ken, there is an interesting discussion on Letstalkbitcoin! E89 which announces the forthcoming Goxcoin project using the Mastercoin protocol.  It early stages but they think it could be off the ground fairly quickly and would provide an opportunity to retreive some of the lost funds.


http://letstalkbitcoin.com/e89-goxcoin-and-the-meta-lair/#.UxhLHn8gGSN

[minerpart]

Goxcoin is a Ponzi Scheme and should not be  encouraged.  It could do more harm to the community than the failure of Gox itself.  Do you understand the concept? It's unique in the realm of other Ponzi-like alt coins in that it openly admits it's a classic Ponzi.  Anyone accepting benefit from it would be on dangerous ground.

And you think con-man Karpeles is going to email them over the user data base from Gox? It ain't gonna happen.

[drawingthesun]

Look guys Ken screwed up big time and lost 25% of our finances on Gox. There is no getting this back.

All we can hope for is the 28nm being finished and produced very soon. We need to make some profits now.

[zumzero]

Goxcoin is a Ponzi Scheme and should not be  encouraged.  It could do more harm to the community than the failure of Gox itself.  Do you understand the concept? It's unique in the realm of other Ponzi-like alt coins in that it openly admits it's a classic Ponzi.  Anyone accepting benefit from it would be on dangerous ground.

And you think con-man Karpeles is going to email them over the user data base from Gox? It ain't gonna happen.

Before judging, be sure to know what Goxcoin we are discussing.  Have you listened to the podcast?  Have you read up on Mastercoin?

Not:

https://bitcointalk.org/index.php?topic=481185.0


But:

http://www.humint.is/goxcoin/

http://www.ibtimes.co.uk/bitcoin-backers-propose-goxcoin-recover-assets-lost-mt-gox-1439065

I haven't made a decision about how good an idea this is or isn't because it's very new.  I'll reserve judgement until I've read a few more discussions.  It seems they are keen to work with the authorities and MtGox and that is not what the ponzi alt coin creators consider.  

"The tokens enable pro-rata distribution of any bitcoin that may be recovered through forensic investigation, law enforcement, and/or the liquidation of MtGox as a corporate entity, according to the proposal."

It's a way of consolidating and centralising all the numerous separate legal cases that will arise, not simply trading a commodity.  If money is recovered it provides a brilliant solution for reimbursing those who lost through MtGox who have chosen not to sell their Goxcoins.

EDIT:  Have just noticed you referenced the database, so clearly we are talking about the same Goxcoin.  Not sure it should be shot down in flames so quickly though. 

[runam0k]

Goxcoin is a Ponzi Scheme and should not be  encouraged.  It could do more harm to the community than the failure of Gox itself.  Do you understand the concept? It's unique in the realm of other Ponzi-like alt coins in that it openly admits it's a classic Ponzi.  Anyone accepting benefit from it would be on dangerous ground.

And you think con-man Karpeles is going to email them over the user data base from Gox? It ain't gonna happen.

Doesn't Goxcoin simply allow the trading of claims against Gox? What makes you think it's a Ponzi scheme?

[snowdropfore]

ken,you get 25000 from ipo.and how many btc left now? did you have enough money to made the 28nm chips??

[canth]

Goxcoin is a Ponzi Scheme and should not be  encouraged.  It could do more harm to the community than the failure of Gox itself.  Do you understand the concept? It's unique in the realm of other Ponzi-like alt coins in that it openly admits it's a classic Ponzi.  Anyone accepting benefit from it would be on dangerous ground.

And you think con-man Karpeles is going to email them over the user data base from Gox? It ain't gonna happen.

Please explain why you think that goxcoin is a ponzi. I see it as a token for tracking an asset class that will be part of a bankruptcy proceeding and potentially other civil or criminal proceedings involving MTGox and Karpeles. No one is promising that there will be any worth to these tokens, but without a way to track them it'll be impossible for courts to view accounts as anything besides a value in JPY or USD, etc.

[wosinddiehirsche]

to keep the thread clean: goxcoin is not the primary topic

[kslaughter]

ken,you get 25000 from ipo.and how many btc left now? did you have enough money to made the 28nm chips??

Active Mining did not get 25,000 BTC from our IPO.  The first IPO was at .0005 BTC and a lot of those sharesholders tendered their shares for Active Mining shares.

[tiaguitah]

I believe in you ken.

[wasubii]

3.2 How much money does ACTM have?

~1500 BTC

How much has been spent?
What was it spent on?

[minerpart]

To clear up the Goxcoin issue - there are it seems three identically named projects. I was commenting on this one:

https://bitcointalk.org/index.php?topic=500241.0

It's not the same project as the one mentioned on the podcast.

[interJ]

3.2 How much money does ACTM have?

~1500 BTC

How much has been spent?
What was it spent on?

Also, are these 1500 XBT counting or discounting the coin lost on Gox?

[chsados]

Weekly Update 3/5/2014

1.  What is the status of our shares?

Active Mining Corporation (Belize) is holding shares for  investors, pending the MSD investigation and colored coins.

Question part 2: How many bitcoins have been accumulated from dividends - is the investigation keeping you from sending out dividens to users?  Why have you not even attempted to verify users bitfunders addresses?  How/who can we reach out to the verify this investigation is actually going on?

2.  How many bitcoins were on MtGox and why where they there to begin with?

VMC's 453 BTC from Pre-Orders.  No Active Mining BTC was lost.

3.  How much did ActM lose on the cancelled 55nm deal?

Less than $1,000 plus Active Mining shares.  At the same time we gained a lot of experience and the help of 2 engineers.  I think in the long run it will be a net positive.

3.1 Were the 55nm ever even taped out? Do you have any proof of their existence?

The 55nm was taped out on a shuttle run.  Production run was not taped out.

3.2 How much money does ACTM have?

~1500 BTC

I find it interesting that you cannot give an exact number.  I think we as investors deserve a signed message from an address where these supposed coins are.  Again, a third party audit should be able to do this for you in under a few hours.

3.3 How much money did ACTM lose in the 28nm eAsic failure?

This has not be finalized as of this date.  We are working this week a plans which will recover the complete eASIC NRE.

4. Who is on the payroll (What companies are you currently working with and how many people (and who) currently work at VMC/AMC)

We don't release the names of who is on the payroll and we don't release the names of our vendors.

5. Proof of a 55nm deal, proof of a tapeout. They were offered as preorders: https://bitcointalk.org/index.php?topic=297503.msg5129392#msg5129392 and https://bitcointalk.org/index.php?topic=464145.msg5129458#msg5129458

The tapeout was the shuttle run for prototypes.  This was cancelled and transferred to a production run, which was then cancelled also.

6. Intellihash?? Can you please explain what this is/was and how this factors into everything?

Not any more than what has been explained before.

7. Are said financials which are forthcoming going to be prepared to GAAP or IFRS levels? Last time financials were forthcoming they were two lines of text in a monthly update.

Active Mining - No Virtual Mining - Yes

Thank you for the response - please see bold text.
I am ignoring the obvious that 99% of the other responses are just words and there is absolute no way to verify them as truth....

What I am most concerned with to be addressed promptly is a signed message proving the existence of the coins held.  I do not see this as an unreasonable request and would show good faith on your part.

[lobbes]

[snip]

What I am most concerned with to be addressed promptly is a signed message proving the existence of the coins held.  I do not see this as an unreasonable request and would show good faith on your part.

+1

[minerpart]

Can a signed message be sent from a cold wallet without compromising the private key? ie entering it online?