[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[bigdude]

Havelock ... please!

[Flashman]

I don't want to be FUDing, but seems to me there's something "going on" with Havelock, wrt to changing Canadian legal climate. Cavirtex took their shares off. I'm not saying it's a complete no-go, you'd just want a candid dialogue with them to see what's going on, and how they plan to handle suspected changes in law.

[equipoise]

I don't want to be FUDing, but seems to me there's something "going on" with Havelock, wrt to changing Canadian legal climate. Cavirtex took their shares off. I'm not saying it's a complete no-go, you'd just want a candid dialogue with them to see what's going on, and how they plan to handle suspected changes in law.

Havelock is not based in Canada. It was sold to the Panama Fund long time ago:
"The Panama Fund
Owner and Operator of HavelockInvestments.com
The Panama Fund is a Private Investment Company, licensed with the S.M.V, Superintendencia del Mercado de Valores (Superintendency of Securities Market). The Panama Fund has been licensed since October, 2008. The Fund is administered by a practicing Legal License Company that specializes in International Business Law in the Republic of Panama."

[minerpart]

Nobody should ever store funds on an exchange... they serve a very temporary purpose. Shares are a different story because they can be tracked, ownership proven, and reversed/fixed.

Absolutely. But during times of high volatility say, a lot of people will have BTC in their exchange account in order to be ready to take advantage of price moves. With hundreds of investors involved these trading funds can amount to a significant number coins. Others may at times liquidate all their shares and hold the BTC in their account ready to buy back low. A risky strategy for sure, not to be recommended, but it's made all the riskier if the exchange has major security flaws!

[JoTheKhan]

If it's not one thing, it's another lol. Should honestly do direct shares, but that will just cause more of a hassle IMHO.

[minerpart]

Crypto-trade: "Volume :/"

:/ <- My thoughts exactly.

I wonder how easily they will be able to cover the lost 30k USD. Could they have even made that much in fees yet? Does anybody know how to work out their fee structure for the sale of Ukyo's 232k shares? What would they have made off the 100-odd BTC that went through their books?

EDIT - lol I may have found their bug?

'News Updates
1st Jan,1970'

[qwertyqwerty]

If it's not one thing, it's another lol. Should honestly do direct shares, but that will just cause more of a hassle IMHO.

seems many exchange hacked recently, could be even worse in future.. time for decentralised exchange?

https://counterparty.co/

[Flashman]

I don't want to be FUDing, but seems to me there's something "going on" with Havelock, wrt to changing Canadian legal climate. Cavirtex took their shares off. I'm not saying it's a complete no-go, you'd just want a candid dialogue with them to see what's going on, and how they plan to handle suspected changes in law.

Havelock is not based in Canada. It was sold to the Panama Fund long time ago:
"The Panama Fund
Owner and Operator of HavelockInvestments.com
The Panama Fund is a Private Investment Company, licensed with the S.M.V, Superintendencia del Mercado de Valores (Superintendency of Securities Market). The Panama Fund has been licensed since October, 2008. The Fund is administered by a practicing Legal License Company that specializes in International Business Law in the Republic of Panama."

Whoops, guess it was the Canadian based securities on there re-arranging their ducks. Good to know it's licensed by the securities commission in the country of "residence".

seems many exchange hacked recently, could be even worse in future..

True, what grinds my gears in connection with that is the KYC/AML that everybody wants now even for SMALL traders. If there's say a 10% risk an exchange will be hacked, sending documentation to 10 different exchanges practically guarantees your personal information will be exposed. I quantify that as about a $10,000 risk, as the potential amount a scammer could scam with your ID, and resultant damage to credit rating, and PITA to sort out. When you're trading on the level of barely a couple of thousand on the high side, that amount of risk is too high. Ergo, I'd rather have direct shares than have to send documents to yet another exchange.

[kleeck]

If it's not one thing, it's another lol. Should honestly do direct shares, but that will just cause more of a hassle IMHO.

seems many exchange hacked recently, could be even worse in future.. time for decentralised exchange?

https://counterparty.co/

If anything these events seem to further reinforce the necessity of a decentralized blockchain solution such as colored coins. The problems of centralized exchanges don't seem to be going away.

[drawingthesun]

What's important is that Ken took the Bitcoin he made from UKYO's shares off of the site as soon as possible. What if the $30,000 stolen is Ken's money? Another hurdle for us to overcome.

Ken, please update and confirm you had no Bitcoin on crypto trade at the time of the hack. Thanks.

[ActM Thread]

From CT's homepage:

Crypto-trade is currently down for maintenance!

Update: We discovered a bug in our system which allowed someone to hack around $30 000. All coins are safe and we will pay ourself for the lost in order that any user doesn't suffer a lost. Crypto-trade.com will open back in 24-48 hours with trading halted. You will be able to withdraw your coins, USD and EUR. When all users will have been refunded, we will close the website for an undetermined period (2-3 weeks estimated) in order to fix our software and make a security audit to reopen later in best conditions. We hope you will keep trust in us, any user will have his money back within next days.

[JoTheKhan]

I don't know if these have been answered before.

Questions for the thread/Ken.

Does Ken/ACTM have a center picked out and paid for where the mining setup will be?

What price does BTC have to be at for this operation to be in the black? @ $547 I believe we are in the red. Can anyone elaborate on this?

Thanks

[Ozymandias]

From CT's homepage:

Crypto-trade is currently down for maintenance!

Update: We discovered a bug in our system which allowed someone to hack around $30 000. All coins are safe and we will pay ourself for the lost in order that any user doesn't suffer a lost. Crypto-trade.com will open back in 24-48 hours with trading halted. You will be able to withdraw your coins, USD and EUR. When all users will have been refunded, we will close the website for an undetermined period (2-3 weeks estimated) in order to fix our software and make a security audit to reopen later in best conditions. We hope you will keep trust in us, any user will have his money back within next days.

Good enough for me, CC all the way!

[tiaguitah]

Colored coins it is!

Been telling everyone since day 1.

edit: i laugh at those who bought actm shares from that shitty exchange.

[GTR_JOEY]

Yea, because the share is now worthless because it was bought on CT...Derpa derrrr

*looks at the roof and shakes head*

[knybe]

Colored coins it is!

Been telling everyone since day 1.

edit: i laugh at those who bought actm shares from that shitty exchange.

what's to laugh at? ANY shares can be converted into colored coin shares, like any other shares… hardy har har.

now we wait for CC to mature to a usable state… sometime in 2015? hardy fucken har.

[JoTheKhan]

Colored coins it is!

Been telling everyone since day 1.

edit: i laugh at those who bought actm shares from that shitty exchange.

what's to laugh at? ANY shares can be made into colored coin shares, like any other shares… hardy har har.

now we wait for CC to mature to a usable state… sometime in 2015? hardy fucken har.

Getting an asset list from CT shouldn't be difficult, so I don't think anyone has lost any shares. The main issue is the BTC. Was any of ACTM's BTC still on Crypto Trade. (Any rational person would have taken 100k BTC off CT. That's how much in shares sold right?)

After that it's back to the waiting game.

[kslaughter]

What's important is that Ken took the Bitcoin he made from UKYO's shares off of the site as soon as possible. What if the $30,000 stolen is Ken's money? Another hurdle for us to overcome.

Ken, please update and confirm you had no Bitcoin on crypto trade at the time of the hack. Thanks.

No bitcoins on CT.

[Subcide]

I assume no bitcoins on MtGox either Ken?

[shaofis]

No bitcoins on CT.

Do you have a copy of the share holders list from CT?