[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[superduh]

i care more about the 6 month delay to deployment (huge in crytoworld) over how much btc he has left.

being a year late to mining doesnt matter what kind of chip you have 55 28 or whatever.
it's catastrophic but could be salvaged.
i'm just afraid there will be more failure and more "just wait we're about to do something" releases

[thefunkybits]

Ken - Shareholder sentiment is at an all time low and legal action will inevitably be coming to suck us dry if you don't smarten up.
Maybe we can't trade right now but there are two things you can easily do right now to stop the constant bitching and whining in this thread if you so choose. (Its not just bitching and whining, we are ALL creating a pr stink in our circles and you will have no customers left)

1. Setup a site for us to input our timestamps, public address, email etc. so we can verify our shares. MSD investigation would not have happened if you had done this earlier like you promised. This is not a hard thing to do.

2. Give us the public address where the avalon refunds are sitting.

[keepinithamsta]

Ken - Shareholder sentiment is at an all time low and legal action will inevitably be coming to suck us dry if you don't smarten up.
Maybe we can't trade right now but there are two things you can easily do right now to stop the constant bitching and whining in this thread if you so choose. (Its not just bitching and whining, we are ALL creating a pr stink in our circles and you will have no customers left)

1. Setup a site for us to input our timestamps, public address, email etc. so we can verify our shares. MSD investigation would not have happened if you had done this earlier like you promised. This is not a hard thing to do if you are as competent as you claim to be

2. Give us the public address where the avalon refunds are sitting. Given the company's track record, it is safe to assume you are lying if this can't be done

I'm betting on them having been held at Flexcoin.  Because any reasonable logic should not be assumed at this point.

[zumzero]

Ken - Shareholder sentiment is at an all time low and legal action will inevitably be coming to suck us dry if you don't smarten up.
Maybe we can't trade right now but there are two things you can easily do right now to stop the constant bitching and whining in this thread if you so choose. (Its not just bitching and whining, we are ALL creating a pr stink in our circles and you will have no customers left)

1. Setup a site for us to input our timestamps, public address, email etc. so we can verify our shares. MSD investigation would not have happened if you had done this earlier like you promised. This is not a hard thing to do.

2. Give us the public address where the avalon refunds are sitting.

3. Brief us on the status of the MSD investigation and the trading platform(s) with regard to their effect on the timeframe for us having complete access to our shares.  Do this regularly.

4. Publish a schedule which identifies key targets/objectives and corresponding dates from now until customer hardware ships and mining farm operation commences.

5. Inform the shareholders as part of the Weekly Update if we are on schedule.

6. Give us a specific date for your announcement that will reveal details of the 28nm chip that is in development.  

[kslaughter]

Can a signed message be sent from a cold wallet without compromising the private key? ie entering it online?

Armory can do this.

Ken hasn't said he is using Armory though I don't think. There is a security issue here we need to be aware of. You are asking Ken to confirm he has a million dollars of BTC on a laptop with Armory on it (for example) and his work address is public knowledge. Do you see the issue? I would think the cold wallet keys are kept in a safety deposit box in a bank in Springfield or Kansas City and there they should stay until they are needed and their safety shouldn't be compromised just to supply a signed message. Surely we want evidence of chips and not just company cash deposits?

There is no issue. Ken just needs to use the private key on a clean, offline computer to create a signed message and copy it to external storage then an online computer.

I am using Armory with an off-line wallet.

[kslaughter]

Perhaps go into the bank and run Armory there?

Yes that's possible if they allow you to take a Laptop into the secure area to generate the signing code. Being safe is an area I'm sure Ken is highly aware of due to him being a known face and having an open work address. Security is everything both online and in the real world. A lot of people would do almost anything to get their hands on a million untraceable dollars. With the previous VE threats I warned Ken about taking his own personal security seriously and he assured me he had taken steps to increase it and was treating it very seriously.

I have PM'd etotheipi asking him to kindly join in the discussion about how to best sign a paper wallet.

Ken this needs to be done ASAP once we get clear and concise information on how to do so.

Ken, how did you create the cold storage wallet?  Is it via a paper wallet or a secure offline computer?  If on a computer what client are you using?
 

I am using Armory with an offline wallet.  In addition, I created a program that keeps SHA256 ASIC from breaking the key.  I also have the keys stored in a paper wallet in a fire safe in 2 locations.

[stenkross]

I am using Armory with an offline wallet.  In addition, I created a program that keeps SHA256 ASIC from breaking the key.  I also have the keys stored in a paper wallet in a fire safe in 2 locations.

People know your name & address (at least to work).
I hope you keep them safe.

Edit: Use BIP38 encryption if you haven't already.

[MilkyWayMasta]

Perhaps go into the bank and run Armory there?

Yes that's possible if they allow you to take a Laptop into the secure area to generate the signing code. Being safe is an area I'm sure Ken is highly aware of due to him being a known face and having an open work address. Security is everything both online and in the real world. A lot of people would do almost anything to get their hands on a million untraceable dollars. With the previous VE threats I warned Ken about taking his own personal security seriously and he assured me he had taken steps to increase it and was treating it very seriously.

I have PM'd etotheipi asking him to kindly join in the discussion about how to best sign a paper wallet.

Ken this needs to be done ASAP once we get clear and concise information on how to do so.

Ken, how did you create the cold storage wallet?  Is it via a paper wallet or a secure offline computer?  If on a computer what client are you using?
 

I am using Armory with an offline wallet.  In addition, I created a program that keeps SHA256 ASIC from breaking the key.  I also have the keys stored in a paper wallet in a fire safe in 2 locations.

Do you have the public address?

[MrTeal]

Perhaps go into the bank and run Armory there?

Yes that's possible if they allow you to take a Laptop into the secure area to generate the signing code. Being safe is an area I'm sure Ken is highly aware of due to him being a known face and having an open work address. Security is everything both online and in the real world. A lot of people would do almost anything to get their hands on a million untraceable dollars. With the previous VE threats I warned Ken about taking his own personal security seriously and he assured me he had taken steps to increase it and was treating it very seriously.

I have PM'd etotheipi asking him to kindly join in the discussion about how to best sign a paper wallet.

Ken this needs to be done ASAP once we get clear and concise information on how to do so.

Ken, how did you create the cold storage wallet?  Is it via a paper wallet or a secure offline computer?  If on a computer what client are you using?
 

I am using Armory with an offline wallet.  In addition, I created a program that keeps SHA256 ASIC from breaking the key.  I also have the keys stored in a paper wallet in a fire safe in 2 locations.

What on earth does that even mean? While I agree it would be trivial to write such a program, can you explain how an SHA256 ASIC could ever be used to break the encryption scheme used by Armory?

[thefunkybits]

What on earth does that even mean? While I agree it would be trivial to write such a program, can you explain how an SHA256 ASIC could ever be used to break the encryption scheme used by Armory?

He's talking about the ability of SHA-256 machines to break SHA-256 encryption and decipher the Private Key from the Public Key. This is impossible even if the hashing power of the entire network X 1,000,000 was pointed at an address.

[MrTeal]

What on earth does that even mean? While I agree it would be trivial to write such a program, can you explain how an SHA256 ASIC could ever be used to break the encryption scheme used by Armory?

He's talking about the ability of SHA-256 machines to break SHA-256 encryption and decipher the Private Key from the Public Key. This is impossible even if the hashing power of the entire network X 1,000,000 was pointed at an address.

No current Bitcoin ASIC would have that ability, even if you did have a billion exahash of them. To brute force the private key from a public one, you'd need an ECDSA ASIC.

[4ju5tice]

What on earth does that even mean? While I agree it would be trivial to write such a program, can you explain how an SHA256 ASIC could ever be used to break the encryption scheme used by Armory?

He's talking about the ability of SHA-256 machines to break SHA-256 encryption and decipher the Private Key from the Public Key. This is impossible even if the hashing power of the entire network X 1,000,000 was pointed at an address.

Anything is possible if you just believe.

[chsados]

Perhaps go into the bank and run Armory there?

Yes that's possible if they allow you to take a Laptop into the secure area to generate the signing code. Being safe is an area I'm sure Ken is highly aware of due to him being a known face and having an open work address. Security is everything both online and in the real world. A lot of people would do almost anything to get their hands on a million untraceable dollars. With the previous VE threats I warned Ken about taking his own personal security seriously and he assured me he had taken steps to increase it and was treating it very seriously.

I have PM'd etotheipi asking him to kindly join in the discussion about how to best sign a paper wallet.

Ken this needs to be done ASAP once we get clear and concise information on how to do so.

Ken, how did you create the cold storage wallet?  Is it via a paper wallet or a secure offline computer?  If on a computer what client are you using?
 

I am using Armory with an offline wallet.  In addition, I created a program that keeps SHA256 ASIC from breaking the key.  I also have the keys stored in a paper wallet in a fire safe in 2 locations.

OMG, my morale is sinking with every word.  

Ken, public address of said bitcoins now please.....  

A dev from The Armory Client has taken the time to educate you on how to sign the key, I'm sure if you need further help he would be willing to step you through it - this should take no more than an hour and it will show good faith on your part.  

I have literally kept my mouth shut for months and to be honest I am almost at a breaking point - hell I have already written this off as a loss but I feel compelled to either prove or disprove you have either A) lost all our money or B) are running a scam.

Do us a favor Ken and just give your investors a shred of hope with a simple action.  

[tempestb]

I honestly think we may have invested in someone's fantasy.

[knybe]

As time marches on and the world realizes the importance of crypto-currency, the A-Listers will take over and the "Mark Karpeles D-List types" (and the fake Satoshi Nakamotos) will be thoroughly weeded out of this system.

...unfortunately they're taking a lot of us with them.

[zumzero]

I think it's long overdue that Ken does something to restore confidence, however I am not convinced that 'proving' ActM is not insolvent is the way to do it.

Once Ken complies and gives you what you want, what proof gets asked for next?

Proof of the 55nm tape out?
Proof of pre-orders?
Proof of the 28nm project?
Proof of having the shareholder list?
Proof of the pudding?

Where does it stop?

My point is while Ken has some way to go in restoring trust, the solution to our woes is not to require him to prove what he is not, but to require him to show us what he is.  He knows exactly where we all stand and what is expected of him.

Ken, I implore you to consider taking the necessary steps that lead to an announcement which leaves the shareholders in no doubt where this business stands and where it is going.  Share your vision and share some facts and please do it very soon.

[knybe]

it stops when this is outted for what it is and we don't ever have to come here ever again looking for validation that we invested in a real mining company.

[minerpart]

It's not an hour of work if you need to access safety deposit boxes/safes in storage centres/safes in other cities. And the dude just said it's an exercise that proves nothing as the coins could belong to anyone happy to sign from their own wallet for a fee. So it's not as conclusive as you are hoping. It would be easy to forge. Instead think chips not coins.  Proof of chips is substantial not this.  

[zumzero]

All I'm seeing here is a bunch of whiney spoilt brats who make no effort whatsoever to try and improve our situation.  Totally selfish attitudes and not a jot of consideration for those who come here to try and get information or try to take part in a sensible conversation.

I am sick to death reading all these useless posts with people just moaning their tits off all the time.

Man the fuck up!

[SoylentCreek]

Ken - Shareholder sentiment is at an all time low and legal action will inevitably be coming to suck us dry if you don't smarten up.
Maybe we can't trade right now but there are two things you can easily do right now to stop the constant bitching and whining in this thread if you so choose. (Its not just bitching and whining, we are ALL creating a pr stink in our circles and you will have no customers left)

1. Setup a site for us to input our timestamps, public address, email etc. so we can verify our shares. MSD investigation would not have happened if you had done this earlier like you promised. This is not a hard thing to do.

2. Give us the public address where the avalon refunds are sitting.

3. Brief us on the status of the MSD investigation and the trading platform(s) with regard to their effect on the timeframe for us having complete access to our shares.  Do this regularly.

4. Publish a schedule which identifies key targets/objectives and corresponding dates from now until customer hardware ships and mining farm operation commences.

5. Inform the shareholders as part of the Weekly Update if we are on schedule.

6. Give us a specific date for your announcement that will reveal details of the 28nm chip that is in development.  

I would also ad Show proof of ownership of said address with ~1,500 BTC by signing to that list.