[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[kleeck]

Interesting read regarding Bitcoin scams. ActiveMining, Labcoin and Icedrill are all mentioned!

http://fc15.ifca.ai/preproceedings/paper_75.pdf

In addition to gathering data directly from the blockchain, we also analyze scams
that raise funds through selling shares. We gather the share holdings from BitFunder and
cross list that with cost of the shares from announcements on bitcointalk.org.
For each scam, we omit the top holding who we verify is the scammer in all instances.

It's a nice read...

"This report partially funded by the Department of Homeland Security"
Where you gonna run to now, Kenny?

SMU?  LOL, fundy cow school should stick to praying and studying cows.

Icedrill never "raised money to purportedly make ASICs."  They did (eventually) get the ASICs they ordered from HF, and are paying dividends.

Your tax dollars at work!   

Right... Because the time frame of operations is completely irrelevant in the Bitcoin space. You're delusional if you think that "eventually" getting a shitty product is a legitimate claim to authenticity.

Ken paid dividends and sold boards.

[iCEBREAKER]

Icedrill never "raised money to purportedly make ASICs."  They did (eventually) get the ASICs they ordered from HF, and are paying dividends.

Your tax dollars at work!   

Right... Because the time frame of operations is completely irrelevant in the Bitcoin space. You're delusional if you think that "eventually" getting a shitty product is a legitimate claim to authenticity.

Ken paid dividends and sold boards.
[/quote]

True, Ken paid dividends from the Avalons.  But I never said he didn't; those dividends provided the credibility for his later fundraising.

What I did say was that Icedrill never claimed to be building their own ASICs, in stark contrast to Ken's homespun NDA iNTELLiHASH eASIC nonsense.

Ironically, the boards Ken eventually sold were from the same source as Icedrill's.  But Ken waited far too long to jump on the HF train.  Too bad, they could have been partners.   

[gogxmagog]

Interesting read regarding Bitcoin scams. ActiveMining, Labcoin and Icedrill are all mentioned!

http://fc15.ifca.ai/preproceedings/paper_75.pdf

sent that study off to Hagerty. Makes for a nice bonfire under Kenny Boy. I wish these things moved as fast as the silk road trial, we'd all be vindicated already!

[zumzero]

Interesting read regarding Bitcoin scams. ActiveMining, Labcoin and Icedrill are all mentioned!

http://fc15.ifca.ai/preproceedings/paper_75.pdf

sent that study off to Hagerty. Makes for a nice bonfire under Kenny Boy. I wish these things moved as fast as the silk road trial, we'd all be vindicated already!

Good work bro.  Very proud of ya.

Shame these university kids aren't fussed about differentiating between scams and failed business's although who could blame them, they needed data for their colourful graphs and charts.  'We have identified 1000 scams because it says so on bitcointalk but we won't include the biggest scam of all, MtGox.'
Laugh my bum off. 

[gogxmagog]

"Active Mining ... are (sic)
operations that raised money to purportedly make ASICs and share the profits but never
delivered"

Really, ken is facing charges of operating a security illegally, but I'm happy to throw everything at him and see what sticks,

plus

"We also show that the most
successful scams draw the vast majority of their revenue from a few victims, presenting
an opportunity for law enforcement to track down and prosecute the scammers"

and, probably the most helpful part...

"The next goal is to identify payments made into and out of the scam."

Ken already ignored the order to show up to the hearing, automatically defaulting his right to appeal. Its over buddy... but here's one for you anyway...

https://www.youtube.com/watch?v=z79o7Q_Dy1s

[RoadStress]

Good work bro.  Very proud of ya.

Shame these university kids aren't fussed about differentiating between scams and failed business's although who could blame them, they needed data for their colourful graphs and charts.  'We have identified 1000 scams because it says so on bitcointalk but we won't include the biggest scam of all, MtGox.'
Laugh my bum off. 

You can't fool anyone. This was a scam from day 1. This wasn't a failed business. There is not a single proof that ken was trying to create a custom ASIC chip besides a worthless NDA signed with eASIC. All the rest were just beautiful words and switching strategies. This company started with a plan of creating a custom ASIC chip and ended up mining with third party miners. The $10k that you lost were worth it for all the drama that went around this.

[zumzero]

For a person with forum 'Legendary' status I am quite amazed at the innumerous contradictions to be found in your last post.  

Please tell me that you are not a native English speaker and all will be forgiven.    

Look, here's the thing folks; Ken is not a criminal as perhaps many of you see him, nor is he the Devil.  Nor was this a scam.  It was merely a shambolic business which, on the face of it, presented itself as having enormous potential and yet failed to deliver on its promises.  In my eye (pls include MSD) that makes it a failed business and nothing else.  Simple.

Ken, however, is absolutely at fault and to be blamed for failing on his responsibilities and duties to the shareholders.  His management fell far short of that expected by a company leader.  For this his burden shall be the shame and guilt that may follow him into retirement and possibly the removal of wealth, who knows.

He has conducted himself in a way that is not becoming.  I was deeply saddened by his departure and 'going off grid' as I knew once he felt he could no longer communicate with zumzero then all hope was truly lost for the shareholders.  The reality is zumzero's efforts kept a line of communication open with kslaughter (continuously relayed to fellow shareholders) far beyond what would otherwise have been.  

I stand by everything I've said in these threads.  My actions/posts have ONLY been motivated by my desire to protect an investment, not withstanding the occasional ego row.  I've also been critically aware of taking responsibility for trying to do the exact same for fellow shareholders at the expense of ridicule.  

EDIT;  If I was clever enough to act upon my gut instincts I would have sold every single share when the 'Board of Advisors' jumped ship and directed funds into NEOBEE, like many of them did.  Same outcome.  High risk investment loses again. Go figure.

The End?

Perhaps my fellow Scotts have the answer...    

http://maidsafe.net/

[RoadStress]

For a person with forum 'Legendary' status I am quite amazed at the innumerous contradictions to be found in your last post.  

Please tell me that you are not a native English speaker and all will be forgiven.    

Of course.

[zumzero]

For a person with forum 'Legendary' status I am quite amazed at the innumerous contradictions to be found in your last post.  

Please tell me that you are not a native English speaker and all will be forgiven.    

Of course.

Clearly quantity over quality matters.  Whatever ups your post count there bud.

AI is so overdue.

[btcminer021]

Did this one implode yet? I've been reviewing all the mining pools for the last few hours and am amazed at the scope. Gotta love good ol' fashioned GREED!

[gogxmagog]

implode? That would imply that it ever actually occupied any amount of space or even could promise as much. Not that that ever stopped Ken slaughter from making empty promises to begin with.
Implode? No, it just passed like the vapour of a fart in the breeze. Poof. Ask zumzero about it. He had his nose right up in there the whole time.

[zumzero]

Ouch!

Actually very humorous gog,   I congratulate you.  But has anyone stopped to consider that venting on zumzero is a double whammy to their investment woes?  Vent all you want I can handle the flack, although perhaps not the smell, oo-er!  Bawdy humor is right up my street and as a citizen of the freest country on the planet the only place this nose goes is right up the 'shit pipe' when I drop in successfully.  Maybe Ken should come over here and don his neoprene.

https://www.youtube.com/watch?v=RLExKBjFcJc

The lyrics are for all my AMC/VMC buddies, the ones who thought this might be a scam from day one but chose to take a risk/reward punt.  It very nearly worked out!!!

Edit;  It's called shit pipe because of the peat that discolours the water, and yes the sky is that colour in God's country (3:51).

[gogxmagog]

Troll level: +300 Lindsy West Mode... 3/10 (extra points for mutant albinism posing as Anglo-centric developmental-delay..

I'll put it this way zum ... And I think I can fairly speak for the few who remain (re)visiting this tragedy and thread... "Please oh please... Bring it on!
  I... me... we... Ain't none of us can't hardly fucking wait!"

[zumzero]

I honestly have little to say regarding the content of your last post *bites lip*.  I tried really hard to google a few of your sounds bites but wasn't able to decipher the 'up for a few days', presumably chemically fueled rant.  

Look, while I do like a glass of Fitou myself and enjoy getting a little vocal, I just don't agree with the 'have a go at zum' philosophy.  I worked very hard during this venture and was purely motivated by protecting our investments.  To do this I was clever by getting as close to our bumbling leader as I could. Some of you guys are so transparent and what really makes me laugh is the fact that for some freaky reason you have always needed a 'hate' figure to have a go at.  Stinks of pitiful self loathing and the sense of impotence at having made an investment decision that was ill thought out.

What you need to think about is how Blahgrahipcs could get so close and yet NOT ring alarm bells.  I was sat in my basement cat dwelling in Scotland but he actually met Ken at the ActM laboratories!  Go figure. Deals done?  Who actually has the money, money, money?  

The business failed due to having an inept leader at the helm and NOT because he was an Einstein at scamming as perhaps the more doltish of you continue to whine about.  Very often in life the most obvious truth is that that is staring you in the face.  The actual truth.  For those of you who continue to think otherwise, gawd bless, have a bountiful journey but please start taking responsibility for your own actions you spoilt little American bastards.

Here's another gem.  You can thank me afterwards. Remember to 720p it and do listen to the lyrics.  Even better, re-read my post as the lyrics start and perhaps they might marry up for some multi-tasking interactive fun!

https://www.youtube.com/watch?v=69Mw5S6tFxU

Here is another song that is on topic with 1080p quality.  Who is the winner?  My best guess is the US Gov.  Sadly some things never change and there was me thinking we could work together to do just that.  Good night America, you have so much to answer for and if civilization crumbles it will be at your hands, so get prepping before it's too late, hehe...

https://www.youtube.com/watch?v=jfsfflkFd6k

[lobbes]

Who is the winner?

Ken was the winner, obviously. He has the money.

You can't fool anyone. This was a scam from day 1. This wasn't a failed business.

Exactly. The sad (weird?) thing is that in 4 months this discussion will still be going on and on ad nauseam. No one will have any money back.

Never Forget^tm

[zumzero]

I'm not going to sit idly by and watch you lot rewrite the history books.  No, not a chance.  The sad reality is that these detractors are the same ones who have had it in for this project since day one (excluding those of you who were genuine investors and have a legitimate beef with kslaughter and his shortcomings) and are either sad fucks who get an ego boost from upping their post count on this monstrosity of a forum and likely never owned shares or are simply incapable of free thought and jump on the back of like-minded morons who keep the cycle of hatred going.  Pft!

To the others, get over yourselves and accept you lost your money by investing in a high risk business which did not succeed.  Want a few dimes back by watching Ken getting done for operating 'shady' securities, be my guest, but understand your contradiction as an alleged Bitcoin enthusiast.

And finally, to those that understand what went on, well, they've all left and I'm here to be their voice.  

[gogxmagog]

I dunno, the MSD is putting together their sentencing. We'll see what they hand down. Looks like ken has already decided to ignore them. Jail then?

[arousedrhino]

I'm not going to sit idly by and watch you lot rewrite the history books.  No, not a chance.  The sad reality is that these detractors are the same ones who have had it in for this project since day one (excluding those of you who were genuine investors and have a legitimate beef with kslaughter and his shortcomings) and are either sad fucks who get an ego boost from upping their post count on this monstrosity of a forum and likely never owned shares or are simply incapable of free thought and jump on the back of like-minded morons who keep the cycle of hatred going.  Pft!

To the others, get over yourselves and accept you lost your money by investing in a high risk business which did not succeed.  Want a few dimes back by watching Ken getting done for operating 'shady' securities, be my guest, but understand your contradiction as an alleged Bitcoin enthusiast.

We don't know the full history so there is nothing to rewrite. All we know is what Ken has told us, and the posts from Bar's investigation efforts which unfortunately did not expose Ken's real intentions. Thank you for trying Bar, of all the investors, you were the best hope of discovering Kens intentions albeit too late for many of us to do anything about it had we found out at the time. Still thank you for at least trying. 

I really cannot believe you are still defending this, his lawyer dropped him. Do you think that was because Ken only failed at the business? I doubt it, a lawyer would likely stay around for the trial if thats the case. He either found something that made him give up, Ken ran out of funds, or realized that working with Ken was like working with a hand tied behind his back since Ken was not being forthcoming with all the information he needed. If a lawyer you hired drops you thats a really really bad sign.

I would love to believe this was just a failed business, but given how this has played out so far it seems very very unlikely and I really doubt any BTC will be returned to any shareholder.

And finally, to those that understand what went on, well, they've all left and I'm here to be their voice.  

Really? you represent those who just put their heads into the sand and are screaming lalalalalala it was not a scam! You are thinking if it was a scam then I really screwed up? Well guess what, all of us that invested in this did screw up. We made a bad investment decision and we have to deal with the consequences. Trying to convince yourself and others that this was not a scam to make yourself feel better is not going to allow you to learn from your mistakes and move on. If anything this was a lesson in how to spot a scam even when things seem to be legit. I lost about $3k on this but I've learned some valuable lessons I would not have without following and investing in this venture.

[zumzero]

I absolutely agree that for those of us who invested and lost money there are lessons to be learned.  I have learned from this experience myself. I have no issues whatsoever in admitting when I've been scammed.  For me that was Labcoin and NeoBee (others not included due to minimal losses incurred), but not AMC.  Ken is as predictable as shit, and it comes as no surprise he has fallen far short of the minimun expected from a defense team. There you have that reliant whiff of ineptitude that follows everything he does.  I stand by my point that he never set out to create a scam. His actions throughout the process give some credence to those who argue that a scam might be the inevitable outcome of a flailing business, however I strongly disagree with that notion.  I genuinely believe that Ken set out with an American dream however things didn't work out for him for numerous reasons, not least of all the rise in difficulty, unexpected Moon-shot missed trajectory and the untimely hash per chip offered by rivals which forced a rethink in strategy. Against all odds he kept the dream alive way beyond it's expirey date.  THAT IS A FACT.

It's important to understand that this venture actually held real promise and it's unfair to beat oneself up over lost opportunity as it was Ken's arrogance and unwillingness to take on board and react to advice given by the Board of Advisors which would ultimately lead to it's demise. Ken failed to capitalise early on when the numbers looked exceptionally promising (likely way before the butt-hurt-quick-fix-loud-mouth brigade and accompanying trolls got boners) and as time progressed it all started to inevitably cloud over.

My part in all of that was to try and delay the storm in the hope that we'd all get to collect a pot of gold IF the fractal appeared, although in hindsight I became more like Cnut the Great and the only rainbows we got to see were those offered by our little sociopath ponies.  

And by the way, I am defending no-one.  I am voicing my opinions.  He is accountable and has to live with his failure and I sincerely hope he can learn from this and move forward as hopefully the rest of you are doing.  I lost £10,000 not $10,000 and it hurt (past tense).  I pick up the pieces and move forward undeterred.  I believe in this technology and have no issues with losing more than I can afford on my next gamble with the expectation that I'll dine guests on my yatch and bore them senseless with stories of how the bitcoin community were once honoured by Volcanic Eruptor's tantrums.  

Jump into bed with the state all you want, but you can't have it both ways.  I know what side my bread is buttered and I know how to get to the Southern Ocean with a reinforced hull.  What will you do with your bitcoin?

http://youtu.be/jeDK2PKNgaI

[RoadStress]

I absolutely agree that for those of us who invested and lost money there are lessons to be learned.  I have learned from this experience myself.

What have you learned?

I genuinely believe that Ken set out with an American dream however things didn't work out for him for numerous reasons, not least of all the rise in difficulty, unexpected Moon-shot missed trajectory and the untimely hash per chip offered by rivals which forced a rethink in strategy. Against all odds he kept the dream alive way beyond it's expirey date.  THAT IS A FACT.

American dream my ass. An American dream doesn't mean that your investors should blindly follow you while you do not provide one single hard proof of what you are trying to do.

My part in all of that was to try and delay the storm in the hope that we'd all get to collect a pot of gold IF the fractal appeared, although in hindsight I became more like Cnut the Great and the only rainbows we got to see were those offered by our little sociopath ponies.  

Thanks for admitting that you knew that this was a failure and that you only tried to delay the inevitable. I guess that makes you a accomplice to Ken's lies and thievery.

He is accountable and has to live with his failure and I sincerely hope he can learn from this and move forward as hopefully the rest of you are doing.

 

You are greatly mistaken here. Ken has a past of failed businesses and from the looks of it the only think that he learned was how to perfect in his lies. Please prove me otherwise. As for the "accountable" part I can only laugh because I don't see him as being accountable at all. He is all fine and dandy.

I lost £10,000 not $10,000 and it hurt (past tense).  I pick up the pieces and move forward undeterred.  I believe in this technology and have no issues with losing more than I can afford on my next gamble with the expectation that I'll dine guests on my yatch and bore them senseless with stories of how the bitcoin community were once honoured by Volcanic Eruptor's tantrums.  

No! You lost 10k pounds and you kept/keep defending the guy that made you lose that money instead of hunting him down.

You believe in the technology, but you want other people to dedicate their time and resources just so you can be on a yacht instead of trying to participate. It's the "lottery" mindset which brings nothing to the table and which allows scumbags like Ken to exist.