[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[kleeck]

Would appreciate information instead of guessing games Ken.  Thanks.

We don't release vendor information anymore.  i.e. VE bugging eASIC.

Fair enough. Good to hear about the NRE being mostly refunded.

Any chance at getting chip specs?

[1714004119]

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[Subcide]

Not asking for vendor information, asking who the "Management team" of the company we invested in consists of, now that that's who the weekly updates are coming from.

Not releasing information on vendors is perfectly understandable.  I get that.

[kleeck]

The hardware gurus love you!

That has nothing to do with hardware.

Also, the giant text is very spammy. Refrain from posting such.

You're wrong again.  Doogie's a hardware vendor/opinion maker.  Moves some serious gear.

Care for some tasty crow, or are you saving room for teh humble pie?

Don't be obnoxious. The critique of VMC was not related to hardware at all.

[mannybitcoins]

Weekly Update 2/19/2014

We have started with a new vendor for our 28nm project.  Our custom 28nm will be very competitive in the market place and will be air cooled and use a double slot.  The estimate speed of the new card will be 432 GH/s and will be listed at $1499.00.

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.  Management believes that the company can be successful in the long run.  The management team is committed to seeing this through.

ActiveMining-PR Staff

Cool Ken, but what about our shares? All this means NOTHING since we can't trade our shares, you know that right?

PLEASE UPDATE US ON OUR SHARES, AND PLEASE, NO EXCUSES THIS TIME.

[MilkyWayMasta]

I don't get it. Why would anyone buy a miner that does 432 GH/s for $1,499 that won't ROI if it isn't mining by this month?

[MilkyWayMasta]

Since shares may stay untradable for a long time, I think shareholders would appreciate an asicminer-style direct dividend payment. IE use satoshis to signify number of shares, and pay out that ~55 BTC sitting in the mining account. Verifying share ownership in some way would help a lot with investor sentiment.

Ken, when are you going to begin the share verification process on your server? It might not be possible to put up the shares on Crypto-Trade just yet due to legal issues but at least let shareholders verify their shares to get the ball rolling. No harm in that.

[minerpart]

I don't get it. Why would anyone buy a miner that does 432 GH/s for $1,499 that won't ROI if it isn't mining by this month?

Those specks will ROI. And the time it takes will vary depending on the price of BTC when the cards are ready to ship. Today it would be 35 days. But remember we are in the middle of a crisis price-slump.

[arousedrhino]

Not asking for vendor information, asking who the "Management team" of the company we invested in consists of, now that that's who the weekly updates are coming from.

Not releasing information on vendors is perfectly understandable.  I get that.

What do you mean by "Management Team" like what kind of people are on that team(thinking positions)?  I don't see any value in knowing the company or the actual people involved in the "Management Team" since if they are known VE will bug them with phone calls until he gets info or they quit. Remember its VE's goal to destroy this company by any and all means necessary, we should not assist him in this quest.

[MilkyWayMasta]

I don't get it. Why would anyone buy a miner that does 432 GH/s for $1,499 that won't ROI if it isn't mining by this month?

Those specks will ROI. And the time it takes will vary depending on the price of BTC when the cards are ready to ship. Today it would be 35 days. But remember we are in the middle of a crisis price-slump.

At current mining difficulty it looks like even if shipping in March, let alone Q3, those chips wouldn't ROI the bitcoin you spent on them http://thegenesisblock.com/mining/a/30b8b7310d

[drawingthesun]

What matters is the cost per GH to us.

Hopefully it will cost us a lot less than $1,500 to get 400 GH/S.

[minerpart]

At current mining difficulty it looks like even if shipping in March, let alone Q3, those chips wouldn't ROI the bitcoin you spent on them http://thegenesisblock.com/mining/a/30b8b7310d

With BTC at 600 USD no but then if BTC stayed at 600USD difficulty would probably not be able to rise as quickly it is now. With BTC at 2k USD ROI with mining in April is around 30 days.

http://thegenesisblock.com/mining/a/cfd8b8a6d8

[thefunkybits]

What matters is the cost per GH to us.

Hopefully it will cost us a lot less than $1,500 to get 400 GH/S.

[MilkyWayMasta]

At current mining difficulty it looks like even if shipping in March, let alone Q3, those chips wouldn't ROI the bitcoin you spent on them http://thegenesisblock.com/mining/a/30b8b7310d

With BTC at 600 USD no but then if BTC stayed at 600USD difficulty would probably not be able to rise as quickly it is now. With BTC at 2k USD ROI with mining in April is around 30 days.

http://thegenesisblock.com/mining/a/cfd8b8a6d8

Thanks for that. I guess calculating mining profits is more confusing than I thought.

[minerpart]

What do we think cost price will be of these cards inserted into our farm rigs?

Lets say 20% of retail. Is that reasonable?

Well if that is the case and we have them running by June then with BTC again at 2k USD ROI would be 23days.

There are a lot of variables, some of them still to be set as manufacturing progresses. One thing is for sure the higher BTC is by Q3 the sooner these chips will ROI. Is that a face-palm statement? Pretty obvious I guess.

http://thegenesisblock.com/mining/a/b1ebec17ea

~correct link inserted~

Edit we are on target to get to market around the same time as CoinTerra with their GSX I ready in June 'At just $1,599 and delivering over 400 gigahash per second'. Except we will be 100dollars cheaper for 32GH more. And as our offering is air cooled and theirs water do we have a cooler running chip?

[Duffer1]

Fair enough. Good to hear about the NRE being mostly refunded.

Careful now.  He didn't say anything about a refund, or how the NRE would be "recovered."

[kslaughter]

What do we think cost price will be of these cards inserted into our farm rigs?

Lets say 20% of retail. Is that reasonable?

Well if that is the case and we have them running by June then with BTC again at 2k USD ROI would be 23days.

There are a lot of variables, some of them still to be set as manufacturing progresses. One thing is for sure the higher BTC is by Q3 the sooner these chips will ROI. Is that a face-palm statement? Pretty obvious I guess.

http://thegenesisblock.com/mining/a/b1ebec17ea

~correct link inserted~

Edit we are on target to get to market around the same time as CoinTerra with their GSX I ready in June 'At just $1,599 and delivering over 400 gigahash per second'. Except we will be 100dollars cheaper for 32GH more. And as our offering is air cooled and theirs water do we have a cooler running chip?

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.

[MrTeal]

What do we think cost price will be of these cards inserted into our farm rigs?

Lets say 20% of retail. Is that reasonable?

Well if that is the case and we have them running by June then with BTC again at 2k USD ROI would be 23days.

There are a lot of variables, some of them still to be set as manufacturing progresses. One thing is for sure the higher BTC is by Q3 the sooner these chips will ROI. Is that a face-palm statement? Pretty obvious I guess.

http://thegenesisblock.com/mining/a/b1ebec17ea

~correct link inserted~

Edit we are on target to get to market around the same time as CoinTerra with their GSX I ready in June 'At just $1,599 and delivering over 400 gigahash per second'. Except we will be 100dollars cheaper for 32GH more. And as our offering is air cooled and theirs water do we have a cooler running chip?

That calculation doesn't work as you set it up. Because you're setting the BTC price to 2000 and the price rise to 0, you're basically saying that the miner itself only costs 0.15BTC, or under $100 at the current price. Of course it will turn a profit quickly at those numbers, but you have to spend the money now in order to get that hardware, when the price is lower. If you want the price to be 2000 in June, it would be better to set the price to 630 now, and set the increase/month to 34%.

That's obviously still not perfect because there will be a large expense coming up very soon with tapeout and the wafer order, and then further expenses for parts and assembly later. If you really want to keep it in BTC it's pretty simple to break it down into different costs at different times based on their exchange rate at the time, and the calculate the total.
IE, if you think the cost if going to be $300 per card, and half is going to upfront NRE (at current rate, $630) and half will be boards/parts/assembly (in early May, at say $1500), then the cost of a board in BTC is 0.33. Using all the same numbers you did, except using 0.33BTC for hardware cost, it looks like this.
http://thegenesisblock.com/mining/a/83c5caae7d

BTW - Why are you estimating starting hashing at the start of June, even Ken's prediction was that tapeout would be 8 weeks after a vendor is chosen (so late April) with chips in Q3.

[auto2nr1]

Ken, can you please address the issue of getting us our shares? Please hurry up and get on this. We have been waiting way too long. I want my shares in my possession. Thanks.

[shaofis]

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.

Ken,

Can your card be used in any computer similar to BFLs? Or will it only work with a VMC Base Unit or Expansion Unit? I assume this is all software; but curious your plans.

Shao

[minerpart]

BTW - Why are you estimating starting hashing at the start of June, even Ken's prediction was that tapeout would be 8 weeks after a vendor is chosen (so late April) with chips in Q3.

It's just an estimate, the beginning of June is a full 14 weeks away and I don't think that is an unreasonable date. Remember Ken made the prediction about Q3 before choosing the vendor so I am assuming that was a rough estimate on his part as not all vendors will offer the same time to delivery of product. The beginning of Q3 is 18 weeks away and the end of Q3 is 26 weeks away so feel free to do an analysis based on those dates. At the moment we just don't know what the vendor is quoting Ken for a timeline.