[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[sparky999]

I thought the point of this thread was to stop trolls not stop actual shareholders posting their opinions? You can't just delete posts that hv a negative opinion of the company. Kens mismanagement is glaringly obvious he should never hv told a reporter anything before shareholders. That is the definition of mismanagement and my post should not be deleted for pointing that out.

[ActM Thread]

I thought the point of this thread was to stop trolls not stop actual shareholders posting their opinions? You can't just delete posts that hv a negative opinion of the company. Kens mismanagement is glaringly obvious he should never hv told a reporter anything before shareholders. That is the definition of mismanagement and my posh should not be deleted for pointing that out.

You are absolutely correct. Occasionally a legitimate (positive or negative) post gets deleted if it pops up during a troll barrage. In those rare cases please accept our apologies and re-post your concerns.

Cheers

[auto2nr1]

The only way canning the 55nm makes sense is if the 28nm are on the same schedule... like... within 6 weeks of the 55nm timeframes... here's hoping this is the good news.

I feel the same way. This is the only good news we should be expecting from Ken this month. If this is not the good news he is talking about i will be very disappointed.

[snowdropfore]

i just want to know did actm still have enough money to develop 28nm chip, if no ,we all will be get f*k

[Flashman]

Well the good thing about that is, the price close to halves every 6 months on the most recent node sizes... and there's the overbuilt 28nm capacity driving prices down faster...

Anyway, this time last year it was almost inconceivable that any ASIC outfit would be able to afford 28nm before 2015 or late 2014 at best.

[Flashman]

I believe the 55nm IP is applicable to the 28nm core, and that was most of the reason for getting it in the first place.

Also I think we've had a handful of Avalons slogging away all this time, and that has probably helped keep the lights on, though they're probably down to a single coin between them for this month.

[finlof]

well as others have mentioned it being difficult to remain optimistic, maybe the 4th chip's the charm (1st a 45nm, then a eAsic 28nm, then a purchased 55nm, then a custom 28nm).  how much money has been spent on the 1st 3 failed chips?

[JoTheKhan]

well as others have mentioned it being difficult to remain optimistic, maybe the 4th chip's the charm (1st a 45nm, then a eAsic 28nm, then a purchased 55nm, then a custom 28nm).  how much money has been spent on the 1st 3 failed chips?

4th lol. You mean 1st, we have no proof of the other 3.

[Mabsark]

The worst thing about this is that Ken was saying how great ActM's financial situation was (and still is) and how great the 55nm chip was before selling Ukyo's shares. Now the shares are sold, it turns out ActM's being investigated, the 55nm chip has been cancelled and bitcoins have been lost in Gox.

In his last update, Ken said:

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
 

What products would those be? The ones he just cancelled earlier?

[Vigil]

Why is it that every time we get closer to a date of delivery something happens and plans are changed?

[Duffer1]

Ken, why did you have your investors coins on Mt. Gox?

[auto2nr1]

Why is it that every time we get closer to a date of delivery something happens and plans are changed?

^ What he said. I was really looking forward to April.

[bigdude]

Since bitfunder closed, and all shares transferred back to ActM for holding, we have not received dividends of any kind.

I think it is time to sort that out please Ken.

Getting our shares on an exchange should be high priority, but sorting them out atleast (like LabRat Mining did), so that we can verify our holdings and receive our built up dividends should be the HIGHEST priority (after hashing).

What is happening with our shareholdings?

[Vigil]

Since bitfunder closed, and all shares transferred back to ActM for holding, we have not received dividends of any kind.

I think it is time to sort that out please Ken.

Getting our shares on an exchange should be high priority, but sorting them out atleast (like LabRat Mining did), so that we can verify our holdings and receive our built up dividends should be the HIGHEST priority (after hashing).

What is happening with our shareholdings?

^Yes.

[Entropy-uc]

i just want to know did actm still have enough money to develop 28nm chip, if no ,we all will be get f*k

Mask costs for 28 nm are ~5x 55 nm.  There is no chance ActM is capitalized to fund masks let alone wafer starts, packaging and boards for a 28 nm build.

I believe the existing 28 nm ASIC manufacturers went through $7-10M to get a product to market.

[hak8or]

Since bitfunder closed, and all shares transferred back to ActM for holding, we have not received dividends of any kind.
[snip]
What is happening with our shareholdings?

I completely agree. At the very least, how many dividends are we owed?  I am fine with even waiting longer if it means we are almost complete with a colored coin implementation, but for pete's sake give us some concrete information, a new screenshot, what works, what doesn't, how many people are working on it, is it just actM working on it or is AsicMiner working with you guys, have you guys considered using something like mastercoin for the time being, anything at all. We need some cold hard concrete information. No whitewashing of (everything is doing well, we are almost done, just a bit more, lots of progress), something concrete with actual details.

Somewhat related, going further, have you guys considered working with AsicMiner to help each other get a distributed exchange out quicker? I am sure it is in pretty much all companies with shares best interests to get a distributed exchange going.

[knybe]

Since bitfunder closed, and all shares transferred back to ActM for holding, we have not received dividends of any kind.

I think it is time to sort that out please Ken.

Getting our shares on an exchange should be high priority, but sorting them out atleast (like LabRat Mining did), so that we can verify our holdings and receive our built up dividends should be the HIGHEST priority (after hashing).

What is happening with our shareholdings?

Please do this Ken.

[Vigil]

Ken, why did you have your investors coins on Mt. Gox?

He didn't. Its just a good excuse, I think.

[JoTheKhan]

Ken, why did you have your investors coins on Mt. Gox?

He didn't. Its just a good excuse, I think.

Good Excuse or he tried to do Arbitrage...

I am sure this question will not be answered.

I am sure there will be no proof of any 28nm chips next month.

I am sure there will be no proof of the 55nm chips from last month, or the 20nm chips that will probably be announced in April when we inevitably scrap the 28nm chips around March 14-21st (We won't find this out until April but he'll make the executive decision in March).

I am sure we will not be finding out how much money Active Mining still has.

I am sure we will not be finding out how much money we lost with the eAsic deal, the People's Asic deal or w/e Asic deal that falls through for these 28nm chips.

Ken just a few days ago you said the company isn't in a "dire mess". I can promise you that every single one of your shareholders (except maybe Zumzero) believes it is. It's time to do PR. It's time to show us the P/L and the Balances of the company, who specifically is involved in the company and your plans going forward. The fact that these plans seem to change by the week (without even informing us) is crazy.

I am a little confused though, how are we going to pay for the 28nm chips if we couldn't afford the 55nm chips?

[gjpminingco]

Ummm it was not said that we couldn't afford the 55nm chip, It was scrapped because it turned out to not be as profitable as first thought / calculated that is why the 55nm chip was scrapped it had nothing to do with couldn't afford it, but i guess if he went ahead with the non-profitable chip anyways and did it then you would be downing him for that one too huh Jo? Give the man some slack and at least give him a Kudos for scrapping a project that he felt would have been a waste of money and deciding now to go forward with it and wasting the time and money just to get a chip out the door that would have just ended up a loss



I for one Give Ken Kudos for having the insight to drop the project and instead moving FULL STEAM AHEAD with the FULL custom 28nm project instead now that there is only one project on the table maybe ken will have a lil more time to getting trading active along with maybe providing a lil more info into what goes on a lil more behind the scenes at ActM and VMC.