[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[bhokor]

then it is a confirmed scam?  no asic at end?

[1714255615]

1714255615

[SebastianJu]

I accumulated shares over all the different platforms. I had to list where when and how much I paid for each purchase. I wound up doing it manually - copying the info from all the accounts - I was unsure if this was adequate and included screen grabs but S Hagerty assured me my reporting was good.

Nothing can happen until ken shows his face and pays his fines. They will issue a warrant for his arrest if he refuses then he will face a "disgorgement" where all his assets are seized. We only get restitution after the fines are paid.

I did give Shawn Ken's home address (home worth about 100k)

Hopefully they bleed him dry, throw him in jail and make his whole family homeless.did anyone determine what happened with the supposed refund from hashfast?

It was supposed to be ~1 000 000 wasn't it?

You are lucky then when you had all the trading data. I did not get the idea that it could go wrong or that i could need it. Only later i made backups with other exchanges.

Unfortunately bitfunder already was gone when shawn haggerty asked for proof.

[SebastianJu]

then it is a confirmed scam?  no asic at end?

Not exactly a scam in legal view. More of a failed business. They go after him for compensation of the investors and buyers of hardware.

Though ken did a lot of bad things, for example not allowing the shares to trade. I lost quite some bitcoins in that time because i could not sell.

[Phildo]

It was clearly a scam. They couldn't/didn't ship products that they had in hand. The fact that there weren't a ton of customers screaming like in the BFL threads was a clue that he was lying about how much there was in preorders.

The claim that money was lost in Gox was also a clue because the money in gox was allegedly from preorders and the reason for the preorders was to raise funds for making hardware. How could he make hardware if all the assets were sitting in Gox?

Taking money from you rubes and not doing anything is not a failure, it's a scam. One that people fell for over and over again back then.

[gogxmagog]

It's a scam as far as I'm concerned, but what Ken is legally guilty of is running a security illegally. They don't actually care what happened to active as a company, it's just that if you are going to offer shares to be trad d you have certain responsibilities you must adhere to... Like making good on promises of guaranteed returns. Also to not be misleading to investors. Ken owes every shareholder returns he promised yet failed to deliver. If his business went bankrupt legitimately he is still required to do a buy back. He should have held back enough funds to do so yet obviously didn't. Or he did but decided to reneg

[Phildo]

It's a scam as far as I'm concerned, but what Ken is legally guilty of is running a security illegally. They don't actually care what happened to active as a company, it's just that if you are going to offer shares to be trad d you have certain responsibilities you must adhere to... Like making good on promises of guaranteed returns. Also to not be misleading to investors. Ken owes every shareholder returns he promised yet failed to deliver. If his business went bankrupt legitimately he is still required to do a buy back. He should have held back enough funds to do so yet obviously didn't. Or he did but decided to reneg

They don't care about your returns. Whether he paid you or not, it was an illegal security. It so happens that the people who don't pay returns are the people that get busted because those are the people who get ratted on to the authorities.

He couldn't pay your returns because there was no business because it was a scam. He told you there were customers but there was no proof. Compare the reaction to all the other mining companies failure to deliver to the active mining failure to deliver. The only time there was traction was when he had (someone else's) product in hand, and someone was stupid enough to send him money for it after "failure" after "failure" and there was no delivery because the whole point was to get money from you guys to keep.

[SebastianJu]

It was clearly a scam. They couldn't/didn't ship products that they had in hand. The fact that there weren't a ton of customers screaming like in the BFL threads was a clue that he was lying about how much there was in preorders.

The claim that money was lost in Gox was also a clue because the money in gox was allegedly from preorders and the reason for the preorders was to raise funds for making hardware. How could he make hardware if all the assets were sitting in Gox?

Taking money from you rubes and not doing anything is not a failure, it's a scam. One that people fell for over and over again back then.

It's long time ago so did he really have the products he wanted to create? I believe he only bought miners from another company. Why should he do that when he really was able to create his own miners?

Taking preorders is not like an investment, right, though a scam would be when you take preorders knowing you won't deliver. Saying that, it might be that he knew at some point and still presold. So at that time it might be possible to say it was a scam at least.

[Phildo]

It was clearly a scam. They couldn't/didn't ship products that they had in hand. The fact that there weren't a ton of customers screaming like in the BFL threads was a clue that he was lying about how much there was in preorders.

The claim that money was lost in Gox was also a clue because the money in gox was allegedly from preorders and the reason for the preorders was to raise funds for making hardware. How could he make hardware if all the assets were sitting in Gox?

Taking money from you rubes and not doing anything is not a failure, it's a scam. One that people fell for over and over again back then.

It's long time ago so did he really have the products he wanted to create? I believe he only bought miners from another company. Why should he do that when he really was able to create his own miners?

Taking preorders is not like an investment, right, though a scam would be when you take preorders knowing you won't deliver. Saying that, it might be that he knew at some point and still presold. So at that time it might be possible to say it was a scam at least.

He had hashfast miners in hand and didn't deliver. Scam

Can you come up with an explanation for all those coins on Gox that doesn't end in scam?

Either he was lying about them being there (was there any proof?)

Or they were preorder money from customers (that there's still no proof of) that should have been cashed out to pay for development/expenses/whatever or held in a wallet he controlled until needed.

Or they were the coins you geniuses gave him for the same reasons a the "customers," and all the same reasons that they shouldn't have been on Gox apply to those coins also.

Not to mention that this paragraph:

Intellihash (TM)

Intellishash (TM) is a unique in-house process designed by ACtM and its engineering team which extends or boosts the usefull hashing life of Bitcoin mining ASIC's. For commercial reasons the full details of this technology are confidential. The process can be applied to ACtM chips and will boost chip lifetime-performance as hash-difficulty rises. The percentage of increased life-time efficiency over a standard ASIC chip is not public knowledge, but the boost is expected to be significant over non-Intellishash capable chips (ie competitors chips).

is 100% bullshit aka SCAM

[SebastianJu]

It was clearly a scam. They couldn't/didn't ship products that they had in hand. The fact that there weren't a ton of customers screaming like in the BFL threads was a clue that he was lying about how much there was in preorders.

The claim that money was lost in Gox was also a clue because the money in gox was allegedly from preorders and the reason for the preorders was to raise funds for making hardware. How could he make hardware if all the assets were sitting in Gox?

Taking money from you rubes and not doing anything is not a failure, it's a scam. One that people fell for over and over again back then.

It's long time ago so did he really have the products he wanted to create? I believe he only bought miners from another company. Why should he do that when he really was able to create his own miners?

Taking preorders is not like an investment, right, though a scam would be when you take preorders knowing you won't deliver. Saying that, it might be that he knew at some point and still presold. So at that time it might be possible to say it was a scam at least.

He had hashfast miners in hand and didn't deliver. Scam

Can you come up with an explanation for all those coins on Gox that doesn't end in scam?

Either he was lying about them being there (was there any proof?)

Or they were preorder money from customers (that there's still no proof of) that should have been cashed out to pay for development/expenses/whatever or held in a wallet he controlled until needed.

Or they were the coins you geniuses gave him for the same reasons a the "customers," and all the same reasons that they shouldn't have been on Gox apply to those coins also.

Not to mention that this paragraph:

Intellihash (TM)

Intellishash (TM) is a unique in-house process designed by ACtM and its engineering team which extends or boosts the usefull hashing life of Bitcoin mining ASIC's. For commercial reasons the full details of this technology are confidential. The process can be applied to ACtM chips and will boost chip lifetime-performance as hash-difficulty rises. The percentage of increased life-time efficiency over a standard ASIC chip is not public knowledge, but the boost is expected to be significant over non-Intellishash capable chips (ie competitors chips).

is 100% bullshit aka SCAM

I thought he actually shipped those hashfast miners out. For those who agreed to receive those instead. Well it is probably too long ago.

The gox coins... i can only say when i remembered that gox coins should exist when i saw that victims of mtgox should claim them then that was the time when ken logged into the forum again when i wrote about that in this thread here. It looked like he wanted to claim them so the community acted fast and informed haggerty, if i remember his name right, who is the executioner of activemining or so. He found it interesting and surely would have approached the trustee who will pay out the victims. So i'm sure when there are coins then these coins will flow back. At least 20 to 25%. Ken had claimed they were there because he misused mtgox as a wallet. At that time it was relatively common since exchanges going down was nothing usual.

Surely intellihash was some stupid code optimization that would not have been able to bring in such amounts of profits to make it worth it.

[wasubii]

Guys, lets not forget that after setting up the mining farm he pocketed ALL of the coins 'to cover development costs'.

Those coins should have been paid out to shareholders but instead they just disappeared

Edit: I can't remember how many there were but it was in the hundreds

[shrodes]

Guys, lets not forget that after setting up the mining farm he pocketed ALL of the coins 'to cover development costs'.

Those coins should have been paid out to shareholders but instead they just disappeared

Edit: I can't remember how many there were but it was in the hundreds

It was 366.32541676 BTC (http://eligius.st/~wizkid057/newstats/userstats.php/1DJpsvnM7xTnQbWEhLYyCyfxQyxwupEzCa)

Roughly $168K USD in today's value.

[Temo58]

hi guys

i remember the old prospectus of AMC the days at btc-t , was it btct-t?

if i remember correct, it said like we aim to capture no more then 45% of network.

that statement is like floating around my head and its making my face smile with no happiness, and making ehee ehee voice.

[drawingthesun]

If Ken has the coins, thousands of them, I wonder how long he will wait before cashing out?

Does anyone know if he is living in a larger house now? I feel like the guy is an idiot and if he had stolen the coins, is probably already cashing them out.

-dts-

[Temo58]

I agree they are scammers - but scammers with chips.

The court papers indicate they were trying to make a deal to move all the assets to another company. Funneling the profits to themselves and the partner.

It seems they do have the stock, they just don't want to part with it, even when paid.

[SebastianJu]

I agree they are scammers - but scammers with chips.

The court papers indicate they were trying to make a deal to move all the assets to another company. Funneling the profits to themselves and the partner.

It seems they do have the stock, they just don't want to part with it, even when paid.

The sad thing is that these kind of gray legal stunts often enough are not punishable. Then it was a bad business decision to funnel that money to that other company your brother owns and not getting something in return worth the money.

Sometimes it's simply too easy to scam unfortunately.

[kaw2019]

Seeing that the trustee of the Mt-Gox bankruptcy process has released the full oversight of claimnants in clear names, we can read as following:

Kenneth Eugene Slaughter has filed a claim of 457.05763687 BTC, which has been fully accepted by the trustee.


So what's next?

[Pompobit]

Seeing that the trustee of the Mt-Gox bankruptcy process has released the full oversight of claimnants in clear names, we can read as following:

Kenneth Eugene Slaughter has filed a claim of 457.05763687 BTC, which has been fully accepted by the trustee.


So what's next?

He will use them to cover development's cost, of course

[gogxmagog]

I told Shawn Haggerty that Kenny would make a claim. I hope he's paying attention. I suggest all bag holders let him know that it's proceeding. That's our money, at least a small percentage of it.
I lost ~35 btc on this piece of crap. Even if I never see a satoshi back I'd at least like to know Kenny gets his btc snatched away. Better even he goes to jail too.
I'm serious though, the more people bang on haggerty's door the more heat gets turned up under kenny's fat ass.
Call the man

[stereotype]

I told Shawn Haggerty that Kenny would make a claim. I hope he's paying attention. I suggest all bag holders let him know that it's proceeding. That's our money, at least a small percentage of it.
I lost ~35 btc on this piece of crap. Even if I never see a satoshi back I'd at least like to know Kenny gets his btc snatched away. Better even he goes to jail too.
I'm serious though, the more people bang on haggerty's door the more heat gets turned up under kenny's fat ass.
Call the man

Maybe Shawn Haggerty can make an official application to Gox trustee/liquidators, to claim the BTC does not belong to Ken. 

[bobboooiie]

Even if we snatch them from KEN (which should absolutely happen) how do we even verify who has how much shares anymore? Crypto-trade is dead as far as I know. I took some screenshots but I doubt they are proving anything to be honest. And I doubt most of the shareholders even have that.