[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[kleeck]

My lawyer has just responded to the MSD with the information they requested.  I think that due to the couterparty risk with these bitcoin exchanges, that we will be using colored coins.  CC is getting very close to being usable.  I do want to get everyone where they can trade; however, I need to consult with my lawyer before doing anything.

My understanding of CounterParty is that it rides on the same blockchain as bitcoin. As long as two parties are using a CounterParty aware client I believe they can exchange issued assets directly without the use of an exchange.

Honestly Ken at this point CC just feels like a continued excuse for not re-listing.

I could be wrong about CounterParty; but in my professional opinion it is much further down the road than CC in just about every way.

https://wiki.counterparty.co/w/Assets#Introduction:_Assets_in_Counterparty

I think you misread Ken's post. I believe he means this type of "counterparty risk": http://www.investopedia.com/terms/c/counterpartyrisk.asp

[klondike_bar]

Will you soon be releasing more information specifying the details of the mining equipment being used?

It is our Fast-Hash One 600 GH/s board, soon to be on our website.

Have you implemented an intermediate 'stop-gap' solution for the business while we develop our own 28nm chips or are we much further ahead than we thought?

I would not call it a 'stop-gap' solution.  We are doing what is required in the business to make the company and our shareholders successful.  There are a number of strategies we are using to make this happen.  

How are things coming along with the pre-ordered products?

We are getting ready to start issuing refunds again.  We are also using our new 600 GH/s board as we get them in full production to solve our refund problem.

Are you able to give us an update on the MSD investigation specifically referring to the status of our shares?

My lawyer has just responded to the MSD with the information they requested.  I think that due to the couterparty risk with these bitcoin exchanges, that we will be using colored coins.  CC is getting very close to being usable.  I do want to get everyone where they can trade; however, I need to consult with my lawyer before doing anything.

Could we get the chip specs and maybe a picture or two of the chip/board/miner?

Its obvious neithe will come. what was the last photograph that was given to demonstrte the ability of ACTM? AFAIK it was a workbench with a few empty PC cases on it

[JimmyJazz]

You mentioned the 'March good news' recently.  Is it related to the schedule for the 28nm full custom and when will you share this news?

It is related to a 28nm full custom chip.  As soon as I can.  Still working on some of the details.

I am guessing that there is more news to come Mr. Slaughter?
I very much hope so.
Good day.

[lobbes]

My lawyer has just responded to the MSD with the information they requested.  I think that due to the couterparty risk with these bitcoin exchanges, that we will be using colored coins.  CC is getting very close to being usable.  I do want to get everyone where they can trade; however, I need to consult with my lawyer before doing anything.

So why haven't you frozen trading on CT so at least all shareholders are in the same position - it is ridiculous to allow some shareholders to trade and not others. Either halt trading for all on CT or get everyone trading there until such time as CC is ready.

[snip]

If Ken halts trading on CryptoTrade immediately this will show good faith. If Ken doesn't halt cryptotrade within 24 hours it shows that he wants to keep it open for what I suspect is the ability for Ken to issue more shares for fund raising when he needs to.

[/snip]

+1

I just don't understand how there's counterparty risk if he releases our shares, but not for people who buy in today.

[JimmyJazz]

We should be trading ASAP - TOP PRIORITY.

Mr Slaughter, have you been in contact with the colored coins team? Do you have knowledge of when they will be ready for public? Are we going to go straight onto this before testing?

As the head of a company which has taken millions from the shareholders, I ask that you be more clear and concise with your information. I am much happier now that we have the weekly news announcement process. However, it sometimes feels as if you are intentionally only replying to questions that are convenient to you or are being deceitful in your wording.

I fully expect more information in the next few days on the 28nm chip. You stated that you would provide news on it in March and have yet to do so. I understand that March still has longer than a few days to go. However I did notice a post in which you stated 'come back and see if I have got what it takes in 2 weeks'. I think a statement like this only indicates you were talking about the 28nm. Anyone who says something as 'bullish' as this and then releases a statement in which they are buying competitors chips is either foolish or out of his depth.

[minerpart]

If Ken halts trading on CryptoTrade immediately this will show good faith.

One rule for all Ken. Why does some other guy get to trade and not me?

I don't agree with this DTS and think it is a strange request. If trading is halted on CT for no good reason that will create a lot of pissed off investors. The BitFunder closure was not our choice and it was the reason for our shares being frozen - not Ken's direct choice. Instead of asking for CT shares to be frozen we should be telling Ken he needs to get CC shares working ASAP for the rest of us. Like tomorrow.

Secondly you can trade on CT, it is open to all. I know all your money is tied up already as is mine but for the CT investors I think it would be unfair on them - rather than making things fair for us, it would do nothing for us atall.

[addi]

counterparty risk should be ok on havelock.. If colored coin ever gets to a stable release you can always make the switch if it really keeps you awake at night
And otherwise there is still direct shares, ASIC & Friedat seem to be doing just fine with this approach

[minerpart]

photos are not aloud in this thread.

I think you mean allowed.


Who is it that does the technical analysis here again? You views on a triple bottom at $400? I think we are definitely on our way to $540, likely by end of March.

[kslaughter]

We are currently running one of our Demo boards on BTCGuild and our total hashing rate is:

Team AMC:

 211435   926.93 GH/s

[VinceSamios]

We are currently running one of our Demo boards on BTCGuild and our total hashing rate:

Team AMC:

 211435   926.93 GH/s

Go on Eligius Ken - just use the mining address as the username on cgminer/bfgminer - no need for new accounts - 0% pool fee - NMC co-mined... much better.

[sparky999]

We are currently running one of our Demo boards on BTCGuild and our total hashing rate is:

Team AMC:

 211435   926.93 GH/s

Whose chips are in those boards Ken?

[thefunkybits]

Wow, awesome...does anyone have a direct link to our team page on the pool? I am unable to find that with a quick search. We should start to see btc start picking up in our dividend address soon enough if testing is being done on that account

[MilkyWayMasta]

Wow, awesome...does anyone have a direct link to our team page on the pool? I am unable to find that with a quick search. We should start to see btc start picking up in our dividend address soon enough if testing is being done on that account

If you sign up and join Team AMC you can see the rates. Currently: 1,034.38 GH/s

First TH of hopefully many to come!

[thefunkybits]

Wow, awesome...does anyone have a direct link to our team page on the pool? I am unable to find that with a quick search. We should start to see btc start picking up in our dividend address soon enough if testing is being done on that account

If you sign up and join Team AMC you can see the rates. Currently: 1,034.38 GH/s

First TH of hopefully many to come!

mind posting a screenshot for all of us that are too lazy?

[gjpminingco]

211435   1,034.38 GH/s

is the current speed by the account on BTCGuild

[MilkyWayMasta]

Wow, awesome...does anyone have a direct link to our team page on the pool? I am unable to find that with a quick search. We should start to see btc start picking up in our dividend address soon enough if testing is being done on that account

If you sign up and join Team AMC you can see the rates. Currently: 1,034.38 GH/s

First TH of hopefully many to come!

mind posting a screenshot for all of us that are too lazy?

[tempestb]

Does anyone still think this is ok?  Honestly?

Ken took in millions of dollars.  Instead of investing that into mining equipment, he blew it all on god-knows-what.  No custom chip at all.  No 55nm, no 28nm.  Nothing.  He has what is left, which appears to be very little, and is buying 200th in mining equipment.  Part of it is being used to refund the people on VMC.  So we end up using our money for that B.S. now too.  Great.  Like how that worked out for us.

Anyone find it odd that the board mines at 600gh and is a PC slotted board?  The timeline also falls in-line when BFL is "supposed" to start shipping.  Are these just rebranded Monarchs?  Maybe not, but it's an odd coincidence that they are coming off the assembly line at the same time with the same hash rate.

Also, because he said that 100th comes now, and 100th comes later.  It makes me think that he's going to get the bonus board (The free extra one for BFL being late) at the end of the shipping queue.  Which would explain the division in getting some now and some later.

Man, I realize that's pure speculation but it adds up.


Lets say Ken bought 100 Black Arrow miners at $5,000 a piece (Retail).  That would give you 200th.  The total cost would be $500,000.  That's what was left to do this?  Wow...

If it IS Monarchs, I wonder when the order was placed, as I can see the real "two weeks" being months from now when all of this hardware is worthless.


I don't think I'll ever see my shares, I think Ken doesn't have the tender list.  Even if he does, he's never going to do it.  He can't even respond to questions properly, why would he sit and and organize that kind of thing?  I can't see it happening.  I guess it's good that Ken just didn't vanish and leave town like so many other Bitcoin company failures.  There's that...

[klondike_bar]

We are currently running one of our Demo boards on BTCGuild and our total hashing rate is:

Team AMC:

 211435   926.93 GH/s

""Our existing hardware assets from AMC liquidation
6 Avalon miners, currently running on BTC Guild under "Team AMC" for around 430 GH/s;
An order of Avalon chips from steamboat's batch #1, for 68 Klondike-16 boards, rated at 68*16*282 = 307 GH/s;
An order of 20,000 Avalon chips (end of May and beginging of June orders), for a combined hashrate of 20,000*282 = 5,640 GH/s.

In total, around 6,377 GH/s, expected to be fully operational in the middle of August."

taken from https://bitcointalk.org/index.php?topic=252531.msg2685502#msg2685502     July 08, 2013, 10:46:58 PM

In a recent news video from about a month ago, it was clear you still had those machines. Thats 737GH so I dont know what to expect your demo board is worth - 190GH.

Without further explanation or (im serious) a photo, my assumption would be that you threw an antminer into your collection at a simple 375Mhz (190GH+/- 2GH) overclock.


nobody understands what is going on, and you are evidently a man of few and imprecise words. Maybe photography would be more your style if you actually want to post useful updates

[neilol]

We are currently running one of our Demo boards on BTCGuild and our total hashing rate is:

Team AMC:

 211435   926.93 GH/s

First real concrete progress in a while - keep up the good work. Lets see the other 99TH and possibly some pictures?

Will 100% of this mining revenue be used to fund pre-orders?

[damiano]

Does anyone still think this is ok?  Honestly?

Ken took in millions of dollars.  Instead of investing that into mining equipment, he blew it all on god-knows-what.  No custom chip at all.  No 55nm, no 28nm.  Nothing.  He has what is left, which appears to be very little, and is buying 200th in mining equipment.  Part of it is being used to refund the people on VMC.  So we end up using our money for that B.S. now too.  Great.  Like how that worked out for us.

Anyone find it odd that the board mines at 600gh and is a PC slotted board?  The timeline also falls in-line when BFL is "supposed" to start shipping.  Are these just rebranded Monarchs?  Maybe not, but it's an odd coincidence that they are coming off the assembly line at the same time with the same hash rate.

Also, because he said that 100th comes now, and 100th comes later.  It makes me think that he's going to get the bonus board (The free extra one for BFL being late) at the end of the shipping queue.  Which would explain the division in getting some now and some later.

Man, I realize that's pure speculation but it adds up.


Lets say Ken bought 100 Black Arrow miners at $5,000 a piece (Retail).  That would give you 200th.  The total cost would be $500,000.  That's what was left to do this?  Wow...

If it IS Monarchs, I wonder when the order was placed, as I can see the real "two weeks" being months from now when all of this hardware is worthless.


I don't think I'll ever see my shares, I think Ken doesn't have the tender list.  Even if he does, he's never going to do it.  He can't even respond to questions properly, why would he sit and and organize that kind of thing?  I can't see it happening.  I guess it's good that Ken just didn't vanish and leave town like so many other Bitcoin company failures.  There's that...

For right now I think this is "OK".  Were slowly going baby steps in the right direction although I wish we were going a lot faster.

@Kslaughter: Using CC should be the end game plan, but for right now we need to be trading ASAP.  Halt trading on CT and get us on Havelock for the time being please