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zero3112
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April 02, 2014, 08:06:50 PM |
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What ever happened after btct.co shut down. What exchange did the asset end up moving to?
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drawingthesun
Legendary
 Offline
Activity: 1176
Merit: 1015
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April 02, 2014, 08:15:18 PM |
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I thought all chip projects are cancelled at this point.
In reality they may be cancelled, but based on what Ken says, ActM is still working on one. It's up to the reader to decide whether they trust Ken's word or not. Ken does seem to avoid talking too much about our current ASIC efforts. |
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Ozymandias2
Member
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Activity: 98
Merit: 10
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April 02, 2014, 08:17:15 PM |
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What ever happened after btct.co shut down. What exchange did the asset end up moving to?
Short answer: Long(er) answer: From btct.co ActM migrated to bitfunder until it closed as well. From bitfunder ActM partially migrated to CryptoStocks (just a few thousand shares) and later to Crypto-trade (with a few hundred thousand shares). The majority of the 10M/25M shares are up in limbo until we either temporarily list them on Crypto-trade or just wait for colored coin implementation. I have no idea which option we're going with at the moment but cases can be made for either case. |
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Ozymandias2
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Activity: 98
Merit: 10
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April 02, 2014, 08:19:21 PM |
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I thought all chip projects are cancelled at this point.
In reality they may be cancelled, but based on what Ken says, ActM is still working on one. It's up to the reader to decide whether they trust Ken's word or not. Ken does seem to avoid talking too much about our current ASIC efforts. That's par for the course though. I'm certainly not one to necessarily defend the lack of info, and the past failures/cancellations/whatever term one wants to use, but Ken has his methods of getting stuff done and pending Bargraphics report tomorrow (and the ability to trade shares), it'll be up to the buyer/investor to trust or not trust Ken |
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zero3112
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April 02, 2014, 08:28:14 PM |
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I thought all chip projects are cancelled at this point.
In reality they may be cancelled, but based on what Ken says, ActM is still working on one. It's up to the reader to decide whether they trust Ken's word or not. Ken does seem to avoid talking too much about our current ASIC efforts. That's par for the course though. I'm certainly not one to necessarily defend the lack of info, and the past failures/cancellations/whatever term one wants to use, but Ken has his methods of getting stuff done and pending Bargraphics report tomorrow (and the ability to trade shares), it'll be up to the buyer/investor to trust or not trust Ken I didn't even know what was going on and I haven't kept up with all the posts on this thread. I'm glad I just sold everything weeks before btct.co shut down. |
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Ozymandias2
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Activity: 98
Merit: 10
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April 02, 2014, 08:30:48 PM |
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I thought all chip projects are cancelled at this point.
In reality they may be cancelled, but based on what Ken says, ActM is still working on one. It's up to the reader to decide whether they trust Ken's word or not. Ken does seem to avoid talking too much about our current ASIC efforts. That's par for the course though. I'm certainly not one to necessarily defend the lack of info, and the past failures/cancellations/whatever term one wants to use, but Ken has his methods of getting stuff done and pending Bargraphics report tomorrow (and the ability to trade shares), it'll be up to the buyer/investor to trust or not trust Ken I didn't even know what was going on and I haven't kept up with all the posts on this thread. I'm glad I just sold everything weeks before btct.co shut down. I'm glad that you're glad. Happiness is one of the most important things in this world  |
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BitSwe
Newbie
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Activity: 38
Merit: 0
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April 02, 2014, 08:38:46 PM |
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Man I gotto say im fucking excited now
Where do you see the price headed? I'm very excited as well. I hope to see it blast past the ATH from BitFunder which was 0.0075 per share. I assume that was an april's fool joke you just made there? Since last friday, ActM has sold 7 miners, 2 of them is to Bargraphics. Let's face it, people do not trust ActM as we've had nothing but bad PR for months. What might save ActM is when we start mining with our own gear, or a miracle happens and people forget ActM's history and start ordering Fast-Hash miners. As an atheist, I do not believe in miracles... |
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Ozymandias2
Member
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Activity: 98
Merit: 10
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April 02, 2014, 08:44:44 PM |
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Man I gotto say im fucking excited now
Where do you see the price headed? I'm very excited as well. I hope to see it blast past the ATH from BitFunder which was 0.0075 per share. I assume that was an april's fool joke you just made there? Since last friday, ActM has sold 7 miners, 2 of them is to Bargraphics. Let's face it, people do not trust ActM as we've had nothing but bad PR for months. What might save ActM is when we start mining with our own gear, or a miracle happens and people forget ActM's history and start ordering Fast-Hash miners. As an atheist, I do not believe in miracles... So starting to mine with our own gear might save ActM? Doesn't sound too difficult considering that we already rented the space and have the miners in hand. |
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MilkyWayMasta
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April 02, 2014, 09:04:54 PM |
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Man I gotto say im fucking excited now
Where do you see the price headed? I'm very excited as well. I hope to see it blast past the ATH from BitFunder which was 0.0075 per share. I assume that was an april's fool joke you just made there? Since last friday, ActM has sold 7 miners, 2 of them is to Bargraphics. Let's face it, people do not trust ActM as we've had nothing but bad PR for months. What might save ActM is when we start mining with our own gear, or a miracle happens and people forget ActM's history and start ordering Fast-Hash miners. As an atheist, I do not believe in miracles... So starting to mine with our own gear might save ActM? Doesn't sound too difficult considering that we already rented the space and have the miners in hand. Yeah, anyone remember where those price projection charts are in the old thread? |
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zero3112
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April 02, 2014, 09:06:10 PM |
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Does activemining just buying mining equipment form bitcoin asic company's or is activemining trying to be an asic chip company like asicminer and mine for itself and sell chips.
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Ozymandias2
Member
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Activity: 98
Merit: 10
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April 02, 2014, 09:07:40 PM |
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Man I gotto say im fucking excited now
Where do you see the price headed? I'm very excited as well. I hope to see it blast past the ATH from BitFunder which was 0.0075 per share. I assume that was an april's fool joke you just made there? Since last friday, ActM has sold 7 miners, 2 of them is to Bargraphics. Let's face it, people do not trust ActM as we've had nothing but bad PR for months. What might save ActM is when we start mining with our own gear, or a miracle happens and people forget ActM's history and start ordering Fast-Hash miners. As an atheist, I do not believe in miracles... So starting to mine with our own gear might save ActM? Doesn't sound too difficult considering that we already rented the space and have the miners in hand. Yeah, anyone remember where those price projection charts are in the old thread? The ones from 7+ months ago? I hate to break it to you but they might be out of date by now... Does activemining just buying mining equipment form bitcoin asic company's or is activemining trying to be an asic chip company like asicminer and mine for itself and sell chips.
The original plan was to design ActM's own chip a la Asicminer. Due to "issues" ActM has had to resort to a stop gap reselling measure while the 3rd attempt at a chip is underway |
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MilkyWayMasta
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April 02, 2014, 09:16:11 PM |
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Isn't it about how much mining power we have in respect to the total network? 1% = 1080 BTC a month -> Half into re-investment, half into dividends -> 540 BTC for dividends / 10,000,000 shares = 0.000054 BTC per share per month in divs.
2% = 0.000108 BTC per share per month.
Hopefully we can have the 800 TH up before the network reaches 80 PH which would be 1%.
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Ozymandias2
Member
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April 02, 2014, 09:28:13 PM
Last edit: April 02, 2014, 09:49:16 PM by Ozymandias2 |
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Isn't it about how much mining power we have in respect to the total network? 1% = 1080 BTC a month -> Half into re-investment, half into dividends -> 540 BTC for dividends / 10,000,000 shares = 0.000054 BTC per share per month in divs.
2% = 0.000108 BTC per share per month.
Hopefully we can have the 800 TH up before the network reaches 80 PH which would be 1%.
Ah, I see what you're getting at. Network hashrate for this difficulty period, is ~40ph/s and increasing at a rate of approximately 15% every 12 days. At this rate the hashrate (and therefore difficulty) doubles every 2 months. According to Ken, ActM will add 100th/s to its mining farm per month starting with April. Compared to the total 3.5-4ph/s that the 5,000 boards will generate, the mining farm will generate far less than sales and will take 8 months (December 2014) to get up 800th/s by which point the network hashrate will double 4 times to 640ph/s assuming the same growth rate as before. At that point, 800th/s will be barely a blip on the radar. Selling is where the money is at, while self mining sets a base income when there are lulls in sales. Now, if ActM can sell all 3.5ph/s at an average price of $2.5/gh/s that would be a total revenue of $8.75M. Of this, we don't know how much is profit considering that we have to take into account the chip costs of Hashfast ($800/chip if order is <500 chips but presumably not much cheaper after, maybe $700/chip) so $3.5M of those $8.75M are for chips, a slightly lesser amount for the boards ($3M at $600/board though this is a guess that I am pulling from deep within my ass) together leaves $2.25M for profit (less any other expenses which I have not listed here but are not limited to transportation, boxes, logistics, etc.) which at $500/btc is 4500btc half of which will go to reinvestment and half get paid out as dividends (2250/10000000 = 0.000225btc/share) from the hashfast reselling. |
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MilkyWayMasta
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April 02, 2014, 09:48:11 PM |
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Selling is where the money is at, while self mining sets a base income when there are lulls in sales.
Interesting, thanks for the analysis. |
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Ozymandias2
Member
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Activity: 98
Merit: 10
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April 02, 2014, 09:56:44 PM |
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Selling is where the money is at, while self mining sets a base income when there are lulls in sales.
Interesting, thanks for the analysis. It's my pleasure. Time is very much a factor here, I have no idea about the financial situation of ActM (still hoping for the financial report by the way, Ken), but I find it highly unlikely that ActM can afford all 5,000 chips right now, hell, I don't even know if the 5,000 boards are all paid for or if we'll be manufacturing say 200 boards at a time and using the revenue from those miners to construct more miners until it's no longer profitable. The longer we wait/don't sell, the lower a price we'll be selling for. This point is ... sticky, however, since it depends on in what one denominates profit/income, higher btc price may mean higher $/gh/s but lower overall btc income so I'll standardize the price into btc/gh/s using $500/btc and $3/gh/s making each gh/s worth 0.006btc (at which point I'll think back to June 2013 when 1btc/gh/s was common) which should fall proportional to the increase in network hashrate. |
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toastee
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Activity: 62
Merit: 10
to the moon, etc.
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April 02, 2014, 09:57:29 PM |
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I'm trying to place an order with btc but still am getting nowhere. i used the "call us online" link and never was connected to anyone, tried email and haven't received a response, and tried calling the 855-663-2482 number only to go to a voicemail box. If anyone from the company is monitoring this I'd like to get an order in, so please respond to my email or voicemail. thanks.
Quoting for visibility. Ken, fix the contact info on the website and the cs@virtualminingcorp.com address. You have people wanting to give you money that can't, and pissed off pre-order customers. |
[16:41] <gecko_x2> stfu bitch
[16:41] <gecko_x2> i know more about the us SEC and the illuminati than you could ever dream of
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minerpart
Sr. Member
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Activity: 280
Merit: 250
IIIIII====II====IIIIII
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April 02, 2014, 11:01:33 PM |
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Q1) Would the ACtM data centre/s be better located in Canada to avoid paying tax on the mined coins?
Q2) The US IRS says taxation applies to coins mined in the past - so Ken has to pay 20% on the coins mined already?
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thefunkybits
Legendary
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Activity: 1218
Merit: 1000
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April 02, 2014, 11:11:56 PM |
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Q1) Would the ACtM data centre/s be better located in Canada to avoid paying tax on the mined coins?
Q2) The US IRS says taxation applies to coins mined in the past - so Ken has to pay 20% on the coins mined already?
These rules dont apply to VMC/AMC since they aren't a US company... |
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drawingthesun
Legendary
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Activity: 1176
Merit: 1015
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April 02, 2014, 11:18:17 PM |
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Q1) Would the ACtM data centre/s be better located in Canada to avoid paying tax on the mined coins?
Q2) The US IRS says taxation applies to coins mined in the past - so Ken has to pay 20% on the coins mined already?
Also Ken might be able to work it so that he is mining on our behalf and thus we need to pay our mining taxes as individuals. |
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