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zumzero
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March 06, 2014, 11:27:28 PM |
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Added and PM'd.
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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damiano
Legendary
 Offline
Activity: 1246
Merit: 1000
103 days, 21 hours and 10 minutes.
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March 06, 2014, 11:29:55 PM |
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Ken said good news will come this month..We have waiting a for a while now and waiting another few weeks shouldn't matter much.
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knybe
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March 06, 2014, 11:34:28 PM |
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Ken said good news will come this month..We have waiting a for a while now and waiting another few weeks shouldn't matter much.
Ken has stated that "good news will be coming" and "you'll see" quite a few times. |
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kslaughter
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March 07, 2014, 12:04:09 AM |
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1. Setup a site for us to input our timestamps, public address, email etc. so we can verify our shares.
I need to check with my lawyer before doing this. 2. Give us the public address where the avalon refunds are sitting. Show proof of ownership of said address with ~1,500 BTC by signing.
Check the Active Mining threads for the address. 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.
Had a meeting with our lawyer yesterday, does not sound like it will cause VMC or AMC to much trouble. 4. Publish a schedule which identifies key targets/objectives and corresponding dates from now until customer hardware ships and mining farm operation commences.
I will be announcing this in the near future. 5. Inform the shareholders as part of the Weekly Update if we are on schedule.
Ok 6. Give us a specific date for your announcement that will reveal details of the 28nm chip that is in development.
I wish I could, this is a moving target at the moment |
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zumzero
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March 07, 2014, 12:06:46 AM |
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Ken thanks for the quick reply. I'm looking forward to getting some of this info in the near future.
On No 3, does this mean that we are just waiting for Colored Coins and not the MSD issue you alluded to yesterday?
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kslaughter
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March 07, 2014, 12:21:17 AM |
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Ken thanks for the quick reply. I'm looking forward to getting some of this info in the near future.
On No 3, does this mean that we are just waiting for Colored Coins and not the MSD issue you alluded to yesterday?
I think Colored Coins is the answer. |
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tiaguitah
Member
Offline
Activity: 111
Merit: 10
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March 07, 2014, 12:26:33 AM |
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Ken thanks for the quick reply. I'm looking forward to getting some of this info in the near future.
On No 3, does this mean that we are just waiting for Colored Coins and not the MSD issue you alluded to yesterday?
I think Colored Coins is the answer. one step closer, on CC. https://groups.google.com/forum/#!msg/bitcoinx/Iqlq__HtuYU/i7EfMW7NaIUJ |
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chsados
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March 07, 2014, 12:28:49 AM |
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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.
If ken really doesn't have the coins and has to go out and hunt down an address with ~1500btc I find the likelihood of him finding someone complying to be very low. In essence, if I see proof of an address that ken has ~1500BTC my worries will be somewhat resolved. |
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zumzero
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March 07, 2014, 12:34:17 AM
Last edit: March 07, 2014, 12:52:07 AM by zumzero |
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16yTynjmSe5bsRGykDaaCL5bm2pxiEfcqP Source: https://bitcointalk.org/index.php?topic=158806.msg2285617#msg2285617Quote from: ThickAsThieves on May 27, 2013, 02:45:39 PM
Quote from: kslaughter on May 27, 2013, 02:21:51 PM
Quote from: Shasoudas on May 27, 2013, 09:05:56 AM
Would publishing AMC's bitcoin address add transparency since we can see proof of purchase of Avalon chips, etc.
I think it would: Here is the address we are holding bitcoins at to purchase the chips: 16yTynjmSe5bsRGykDaaCL5bm2pxiEfcqP
We would like to purchase a full batch as group purchases have a commission of about 9.5%
Where did the other 460BTC go?
We have already made deposits to VMC for machines and they have purchased Avalon chips in steamboats batch 1.
We will be posting on bitfunder a full accounting of the funds by the 15th of June for the month of May.
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thefunkybits
Legendary
Offline
Activity: 1218
Merit: 1000
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March 07, 2014, 12:46:21 AM |
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This address is legit! I remember this being the address of "AMC-TENDER" on Bitfunder. Thank you Ken, please keep us updated on the shares. Even a simple verification process would cool alot of heads around here |
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kingcrimson
Legendary
Offline
Activity: 1025
Merit: 1000
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March 07, 2014, 12:53:05 AM |
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Didn't he start with 25,000 coins? 1,500 left is crap. Threw away 95 % of our money.
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zumzero
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March 07, 2014, 12:57:57 AM
Last edit: March 07, 2014, 01:08:32 AM by zumzero |
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Read the page I linked and notice the shares were selling for 0.0005 in the original IPO. The vast majority of shares were purchased at 0.0005 and up to 0.0008. Ken also said yesterday that they are working on a plan to recover all of the eAsic NRE which was around $1,000,000 and accounted for an enormous amount of the funds raised in the IPO given the low price of bitcoin at the time. The money is being handled well and it does look as though Ken was being factual when he has repeatedly said we are in a good financial position albeit having suffered the significant mtGox loss. Goodnight folks. Good progress, let's keep chipping away.  |
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minerpart
Sr. Member
Offline
Activity: 280
Merit: 250
IIIIII====II====IIIIII
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March 07, 2014, 01:57:33 AM |
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I can't see how a transaction occurring today says anything about the set up of the wallet or how easy it is to access.
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JoTheKhan
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March 07, 2014, 02:22:00 AM |
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I can't see how a transaction occurring today says anything about the set up of the wallet or how easy it is to access.
lol.. Ken just said the coins are in -> cold <- storage. The bolds are a hint. Anyways. Ken I have a few curious questions. How much money has already been put down for the 28nm chip? How much money has been lost on the recent 55nm chip? If you expect to get something of value back from eAsic; why has it taken so long? I expect the eAsic thing fell through at least a month or two ago. Is this another hold up? |
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DeadwoodDan
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March 07, 2014, 02:53:53 AM |
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Anyone who owned bitcoins could prove they own the bitcoins, wherever and however they were stored. This is a feature.
If proving he owns bitcoins is a security risk for Ken, then so is spending them. He needs to be able to handle that without exposing himself to a keylogger as a matter of daily business.
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minerpart
Sr. Member
Offline
Activity: 280
Merit: 250
IIIIII====II====IIIIII
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March 07, 2014, 03:02:43 AM |
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Jo,
Sorry to press the point as it's a bit academic but again, someone accessing a cold wallet on a given day tells you nothing whatsoever about how long it takes or difficult the process has been made to access that wallet.
To access this wallet Ken may have to travel to a bank in another city, he may also have to give notice of his visit. He may then have to visit a second bank to retrieve the second portion of a split private key. I can't see how you can make an inference that access is easy just because access has been made recently.
edit- OK maybe this is something to do with you not knowing that you can send from a cold wallet when you use Armory .
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JoTheKhan
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March 07, 2014, 03:23:45 AM |
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Jo,
Sorry to press the point as it's a bit academic but again, someone accessing a cold wallet on a given day tells you nothing whatsoever about how long it takes or difficult the process has been made to access that wallet.
To access this wallet Ken may have to travel to a bank in another city, he may also have to give notice of his visit. He may then have to visit a second bank to retrieve the second portion of a split private key. I can't see how you can make an inference that access is easy just because access has been made recently.
edit- OK maybe this is something to do with you not knowing that you can send from a cold wallet when you use Armory .
Then what's the point of the cold storage if you can send from it on a computer that is connected to the internet. That defeats one of the points of a true cold storage. So he is actually using a hot wallet with a little extra protection including this SHA256 safeguard he created? |
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MrTeal
Legendary
Offline
Activity: 1274
Merit: 1004
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March 07, 2014, 03:34:10 AM |
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Then what's the point of the cold storage if you can send from it on a computer that is connected to the internet. That defeats one of the points of a true cold storage. So he is actually using a hot wallet with a little extra protection including this SHA256 safeguard he created?
'You don't actually send from the cold wallet. You generate the unsigned transaction on the connected wallet, and then bridge the air gap somehow to get the transaction signed, and then return to the online wallet to broadcast it. |
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knybe
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March 07, 2014, 06:20:57 AM |
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Then what's the point of the cold storage if you can send from it on a computer that is connected to the internet. That defeats one of the points of a true cold storage. So he is actually using a hot wallet with a little extra protection including this SHA256 safeguard he created?
'You don't actually send from the cold wallet. You generate the unsigned transaction on the connected wallet, and then bridge the air gap somehow to get the transaction signed, and then return to the online wallet to broadcast it. was just about to say what MrTeal said. Cold storage doesn't mean it's not accessible, just means it's not directly connected to the network. |
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